The Sun.
London, England, 1849-08-20 00:00:00

Ala tninit '.. Ant

LONDON, MONDAY, AUGUST 20, 1849.

Sir JAMES DUKE must have felt proud of his posi.

tion the other day, when, on his visit to Scotland,
he was presented with the freedom of the city of
Edinburgh. It might be supposed that on the LORD

MAYOR, and, moreover, the Parliamentary Repre-
sentative of the city of London, such an event could
confer little additional honour. But not so. Sir
JAMES DUKE is a Scotchman, and as a token of the
respect entertained by his countrymen for his pri-
vate worth, and their congratulatory sympathy in
his successful commercial and political career, the
presentation of the freedom of the capital of
Scotland was an act most complimentary in
itself, and, as such, very gratefully appreci-
ated by its recipient. In addition to its indi-
vidual interest, the account of the ceremony of the
presentation is rendered valuable and attractive by
the encouraging example which it holds forth. As
the LORD PROVOST very justly remarked on that
occasion, "we see that the path to honour and emi-
nence is open to individuals of every class—there is no
royal road here to eminence, for we find that a bum-
ble Scotchman, leaving his native shores, and settling
in London, may have not only a seat in the British
Senate, but be placed at the head of the greatest cor-
poration of the country." " Your history," said the
LORD PROVOST, addressing Sir JAMES DIME,

" offers a bright example, and should act as, ND
inducement to others to follow in your foot-
steps." And what were those footsteps ? Now,
example is better than precept, and the lesson con-
veyed by Sir JAMES Duxn's adhesion to his past
career is better than a hundred homilies on the tri-
umphant efficacy of perseverance. " I am never
ashamed to confess," said the LORD MAYOR of Lon-
don, " that I sprang from the humblest ranks—that
I received but a good name when I left my native
town," and he added, after alluding to the many,
difficulties which had impeded his ultimately suc-
cessful career, " I mention this to show that in this

happy country (whatever differences of opinion
may sometimes irritate public men), the young
man who perseveres in a course of integrity,
sobriety, and, let me add, economy, can-
not fail to make himself respected and independent."
This is a testimony worth having, and, coming from
such a quarter, it will have double weight. Let the
struggling and the friendless think of this. This is no
delusive will-o'-wisp of glory, but a plain substantial
fact. The advice given is, happily, as practical as it
is truthful. Perseverance, combined with integrity,
sobriety, and economy, will ensure independence and
respect. But the lesson must not be half
learned—the forces must not be divided. It is
the old fable of the bundle of sticks. What will
perseverance avail without integrity ? and can integ-
rity prosper without perseverance ? Even these two,
all-essential virtues though they be, are insufficient.
How often are not both the one and the other ren-
dered fruitless by the fatal want of sobriety ? How
many happy homes have been rendered desolate by
that sad vice ; and how many once cheerful hearts
have borne bitter testimony to the expressive lines of
ELizA. COOK, in her splendid " Ode on Temperance ?"
" Who shall reckon all the anguish
Who shall dream of all the sin,
Who shall tell the souls that languish
At the spectre-shring of Gin?"

Integrity and perseverance, and sobriety and eco-
nomy—economy which has been beautifully and
truthfully styled "the nurse of independence ;" and
the truth of the epithet will be evident to all who, like
the LORD MAYOR, have tested it by experience—
Integrity, Perseverance, Sobriety, and Economy are
by this showing the four corner-stones of the temple
of Fortune. Many a temple has been built on a
worse foundation ! We cordially hope the LORD
MAYOR'S address may encourage many humble
beginners to follow his honourable example. Ilis
deserved success cannot fail to stimulate all who have
embarked on that most arduous path by which the
fable of SISYPHUS and his rolling stone is daily
realised—the pursuit of fortune under difficulties.
All may not, like Sir JAMES DUKE, become Lord
Mayors and Members for London, but all who follow
his advice will inevitably obtain what he promises
them, and what he himself has obtained, and which he
values mere than the freedom of the city of Edin-
burgh, or the confidence of the electors of London, or
even the civic mace itself—respect and independence.

Several railway meetings were held during the last
week, at which the accounts of the past half-year have
been submitted to the shareholders, and dividends
declared on the stock of the several companies. First,
perhaps, in importance was that of the London and
North-Western, which took place on Friday, in
the magnificent new Hall at the Euston-square sta-
tion. The proceedings of the leviathan company
must ever be regarded with the deepet interest by
all parties possessed_of property in railways, not only
from the enormous amount of capital invested, and
the vast traffic of the line, but also because the direc-
tors have ever enjoyed the utmost confidence of their
constituents, and have exhibited a praiseworthy ala-
crity in adopting every method by which the expenses of
management ana of the various charges incidental to the
working of the railway might be economised, and ample
provision made for every probable contingency. On
the present occasion the result of the meeting was
looked for with more than ordinary anxiety. It was
known that the usual dividend at the rate of seven per
cent. per annum would be maintained, for the direc-
tors, in accordance with their laudable practice, had
placed an abstract of the accounts of the half-year in
the hands of every shareholder some days before the
meeting, in order that it might be fully investigated
and an opportunity afforded of making any inquiry
on the subject. But it was also known that the
amount had not been fully earned during the six
months, and that a considerable dip into the reserved
fund was necessary, in order to keep up the
dividend ; and although there was no infringe-
ment on the capital, some apprehensions were
awakened in the minds of shareholders, lest
they might for the future be compelled to submit to
a falling off in the dividends which they had been
accustomed to consider as safe as those arising from
the public funds. We are happy to say that these
apprehensions were in a great degree mitigated, if
not entirely:removed, by the straightforward and manly
explanation afforded by the respected chairman, and
that the proceedings were conducted in perfect har.
mony, and were terminated to the satisfaction of al
parties concerned.
The gross receipts for the half-year, from the Ist of
January to the 30th of June, amounted to 1,032,9394
4s. 7d., of which 647,9171. 14s. 3d. was obtained from
the passenger traffic, including the carriage of parcels,
horses, carriages, and dogs, and of the mails; while
385,0211. 10s. 4d. was received for merchandise, ex-
clusive of the agents' costs of collection and delivery;
while the interest on cash balances and calls in arrear,
rents, and other small items increased the fund to
10,628,8461. 16s. On the other side of the balance-
sheet there appeared for working charges (including
maintenance of way, locomotive power, and coaching
expenses, police expenses, stores department, and
general charges), 366,5471. 15s. 4d. ; for parish rates
and taxes, and duty on passenger traffic, 51,368/. 14s.
10d. ; for interest on loans, 111,881/.lBs. ad., which,
with expenses connected with other railways,
amounting to 15,856/. Os. 9d., left a balance of
417,1g4/. 6s. 101, from which was deducted 7,5251.
for renewal of rails and interest; so that the net ba-
lance available for dividend was 509,669/. 6s. 10d.,
fairly earned within the half-year. There remained,
however, on hand from the preceding half-year an un-
appropriated balance of 71,493/. 12s. 11d., from which
the deficiency necessary to pay a dividend of 3* per
cent. for the half-year, was made up, by which the
reserved fund has been reduced to 15,5011. 19s. ld.
This certainly at first sight appears by no means
favourable, The simple fact that nearly 56,0904
sterling should be required from past earnings to keep
up evsa the reduced dividend of seven per cent. per
annum, would seem to justify the fears of the share-
holders, and to demand that the dividend should be
reduced to that which could be paid from actual
profits. The Chairman, however, stated that the
division of the earnings of the spring and autumn half-
years were very dissimilar in their comparative results;
that much larger profits were realised during the last
than the first half of every year, and that the com-
pany had found it necessary from time to time
—on one occasion to a much larger extent
than at present —to make use nearly to the
same degree of the reserved fund that had
been accumulated during the preceding half-
year. In fact the seven per cent. was clearly and
fairly earned over and above every fair deduction on
the entire year, but it seemed more desirable to de-
clare dividends of equal amount, that is to say of
3/. 10s. for each period of six months, rather than to
give 8/. ss. for the half-year ending the aoth of June,
and 3/. 16s. for that ending the 31st of December.
This fair and candid explanation was received with
perfect satisfaction by the assembled shareholders, and
the report was received and the dividend J.wared
without a dissentient voice.

We congratulate tho aJareholders and the public
generally
on tins result. Railway property has suf-
fered severely from the trying ordeal to which the
nation has been subjected during the disastrous years
of 1847 and 1848 ; but what description of property
has escaped unscathed ? All have participated
in the depression ; but there is every reason to hope,
that with the revival of trade and commerce, and
with a renewal of activity, the railway interest will
be restored to its former position, and that fair and
remunerative dividends would again be paid to the
proprietors. One beneficial result will at least follow
from the temporary depression. A greater degree of

caution will be exhibited ; a large expenditure will
not be rashly undertaken, and economy and retrench•
went will be the order of the day with every board of

management. Thus will good eventually spring from
evil ; and even in the prosperous years the bitter ex.

perience of 1847-8 will not be lost sight of or for-

gotten.

The Lord Mayor returned to town on Thursday
from Scotland.
The Queen has granted a pension of 1001. per
annum on the Civil List to Lady Hamilton, the wife of
Sir W. Hamilton, Processor of Logic and Metaphysics
in the University of Edinburgh, and a valuable contri-
butor to philosophical literature. Mr. Redington,
Under-Secretary for Ireland, is to have the rank of
C. 8., or second class of the Bath on the Civil Estab:ish-
inent. Mr. Henry Lawrence is appointed Cumberbatch
Deputy Surveyor of the New Forest, Hants. Dr.
James Vickery Drysdale and James Macfarlane, Esq.,
to be temporary members of the Council of St. Lucia.

TH.E FRENCH REPUBLIC.

We have received the Paris pApurs of Saturita),
and yesterday.
M. PIERRE BONAPARTE was on Friday found
guilty of striking M. GASTIER in the National As-
sembly. The Court of Correctional Police sentenced
him to pay a fine of 200 francs and costs.
In commenting on this sentence the Republique

says :--
"The Correctional Tribunal of the Seine yesterday,
tried Citizen Pierre Bonaparte, representative of the peo •
pie,' for the blow which he gave in the Legislative As-
sembly itself, to Citizen Gastier, his colleague. The
tribunal condemned Citizen Bonaparte to two hundred
francs fine. The same tribunal tried, on the 18th April
last, Citizen Euglisie Raspail, and condemned him to two
years' imprisonment and thousand francs' fine for a blow
given out of the Legislative Assembly! What a fine
thing is French justice? Will the fabulist, then, be
always right."
The National publishes the following pithy obser-
vations on the same subject :
"Some years ago a writer who thought himself in.
jured by a journalist struck his adversary a blow in the
face at a theatre and was summoned before the correc-
tional police (like M. Bonaparte). M. Bergeron was
condemned to be imprisoned for three years.
" The 11 th April, 1849, M. Raspail, representative of
the people, thinking himself offended by one of his col-
leagues, struck him in the face, in the passages in the
vicinity of the Assembly, and was brought before the
correctional police. M.. Raspail was condemned to two
years' imprisonment."
"On the 10th August, M. Bonaparte, representative
of the people, believing himself offended by M. Gastier,
gives his colleague a blow before the whole assembly,
and brought before the correctional police, he is this day
condemned to 200 f. fine."
It is rumoured that the delay in the return of
General OUDINOT is occasioned by a difference of
opinion between the Cabinet and the PRESIDENT of
the Republic, and that the latter has written to the
General, by M. EDGAR NET, informing him that
he need be in no hurry to obey the orders of the
Cabinet. In allusion to this subject the Stick says—
" Colonel Edgar Ney must have embarked at Toulon
on the 14th or 15th with the order for General Oudinot
to return home. In order to throw some disguise over
his recal the General would bring home a few of the
regiments which had suffered most fatigue; but, as all
the materials of war would be left behind, and as in 72
hours our marine could throw from 25,000 to 30,000
men into Civita Vecchia, the return of a portion of the
troops cannot be regarded as having any serious signifi-
cation. The truth is, the Pope has refused to return to
Rome, despite the most pressing instances of General
Oudinot, who could obtain no further favour than a pro-
mise that his Holiness would come to Albano to pro-
nounce a benediction on certain delegations from the
army representing the entire. The truth is that the
Statulo will be replaced by a Consulte; that all men of
weight and character refuse to aid the Pontifical com-
mission, and that should the army leave Rome to morrow,
the commission, and all connected with it, would be
ignominiously expelled by the people. Is that an affair
Which can be called settled, unless, indeed, the soldiers
of the Republic should have taken the Eternal Ciiy only
for the sake of allowing the Austrians and Neapolitans
to establish a garrison for the maintenance of the clerical
camarilla?"
The .Evenement says, " It is announced that after
several interviews between General VAILLANT and
the PRESIDENT of the Republic, and the Minister of
Foreign Affairs, orders have been sent to General
OUDINOT to postpone his return to France."
It is rumoured that in answer to the remonstrances
of the French Government against the Russian inva-
sion of Hungary, the Emperor I•TicuoLas declared
that he was determined to put down revolution at any
price, and hinted that after the settlement of the
affairs of Hungary it was by no means improbable
that he might, in conjunction with Austria, intervene
in the affairs of Italy and France. The Constitution-
nel of Sunday proclaims openly its sympathy with
the Austrians and Russians, and its detestation of the
Hungarians and their cause. After describing in
glowing colours the apocryphal victory of HATNAU at
Szegeden, the Constitutionnel thus proceeds :
" While the victorious Imperial army advances in the
south and centre of Hungary, the Hungarians appear to
be gaining ground in the west. The occupation of Raab
by 6,000 Hungarians, with 18 pieces of cannon, under
the command of Klapka, is now certain. 12,000 others
have been dispatched in two different directions, one of
which appears to be Oedenburg, the other Presburg,
which needs to be fortified against a coup de main. The
Austrian corps of General Czoriel is raised to 26,000
men by reinforcements sent to him ; it is to be regretted
that the greater part of these troops are newly-raised
soldiers. They are accordingly waiting for the greater
part of the corps of General Nugent, commanded by
General Loderer, in order to attack the Hungarians on
both sides at once. In the meantime it is affirmed that
the latter occupy Viszprim and Stuhl-Wussemburg."
There is something ominous in this appearance
of an approaching union between the Government of
the French Republic and that of Austria. The Aus-
trian alliance has invariably brought misfortune to
those French rulers who have entered into it. The
marriages Of MARIE ANTOINETTE and of MARIE
LOUISE were the precursors of the downfal of the
BOURBON and the BONAPARTE dynasties, and the
ardente cordiale with Austria for the suppression of
the Sonderbund was immediately followed by the
expulsion of Lours PHILIPPE from France. This
fear of offending the Absolutists, which is now the
characteristic of the French Government, is turned
to excellent economical account by the National. It
says—
" The army and fleet will cost this year more than
500,000,0001., or more than a third of the whole Budget.
What is the use of so expensive a military establishment?
The Government of M. Bonaparte, no more than the
majority, wishes not for war. In Italy it 'plays the
game of Austria, and looks on while Venice is crushed.
It has no sympathy with Hungary. It applauds the
savage war carried on by Russia and Austria& it expels
the Polish refugees pointed out by the Czar; it obeys
the desires and injunctions of Prussia. It has no desire
to quarrel with England. Wherefore their 500,000 men,
100,000 horses, and a considerable fleet? It might evi-
dently, without compromising its noble policy, reduce
the war and marine budget by a fifth. It has restored
the absolute royalty of the Pope—it has given true liberty
and the Holy Inquisition to the states of the Church.
It may at last repose under its laurels, and recal our ex-
peditionary army to Toulon. We do not imagine that
it has any intention of throwing 30,000 or 40,000 men
into Fiume, for the sake of aiding Russia and Austria to
bear true liberty to the Hungarians."
It was rumoured that MM. ODILON BARROT,
PASSY, and DUFAURE were about to succumb to the
intrigues of the Legitimatists, and to quit the Minis-
try, leaving the field open to M. DE FALLOUX and
his Jesuit friends. It appears, however, that at a
meeting of the Legislative Committee of the Assem-
bly on Friday the most unbounded confidence was
expressed in M. ODILON BARROT, in consequence of
which the intrigue of the parti-pretre has failed. The
Evenement of yesterday has the following :
" A modification of the Ministry had been talked of.
There Ministers, it was said, were to resign. Amongst
them M. Passy was mentioned. It appears, however,
that the differences was arranged at a Council held yes-
terday at the Elysee."
The Moniteur announces that the direction of the
Ministry of Public Instruction has been confided to
M. LANJUNAIS during the absence of M. DE FAL-
Loux, who has gone into the country for the benefit
of his health. We all remember the celebrated re-
tirements into the country of M. DUCIIATEL during
the-time he held office.
ICI M. VIDEL and TOCESSEREL, editors of the Tra-
vail Affranchi, have been released from prison, after
57 days' close confinement on a charge of having par- ,
ticipated in the revolutionary movement of the 13th
of June.

M. GOUACHE, a commissary of the Provisional
Government, and M. LAUTERRE, secretary to the
Socialist committee, who were arrested in Paris
on the 13th of June, have been discharged from
prison.

M. BERENOER (de la Drone) has been appointed to
preside over the High Court of Justice to try the
political offenders of the 13th of June.
It is said that M. LEDRU RoL,.ix is in Paris, and
intends to surrender to take his trial.
M. EtraEN. OARPENTIER, responsible editor of the
Trih.,,.c. des Peuples, who was arrested on the 13th
J une on a charge of complicity in the affair of that
day, was set at liberty on Thursday by order of the
Chambre des raises en Accusation, who found nothing
proved against him. M. HERMAN EWERRECK,
naturalized Frenchman, accused of being connected
in the same affair, has also been just released from
confinement.

The Court of Assizes of the Aisne has just pro-
nounced sentence on the parties implicated in the
riots at St. Quentin on the 13th June. One of the
prisoners has been condemned to five months, two to
three months, and one to two months' imprisonment,
and each of them to 600 f. fine. Four were acquitted.
At the moment when the prisoners quitted their
benches, they were saluted with numerous cries of
" Vive la Republisue !" and they were afterwards
surrounded and attended to the prison by the crowd,
crying " Vive les Rouges r At the door of the
prison the escort was obliged to charge on the crowd,
by which some persons were wounded.
The Minister of Marine has addressed a dispatch
to the Maritime Prefect of Toulon, declaring that
until the definitive vote of the Budget in 1850 shall
permit him to fix on a more large and regular basis
the composition of the squadron of the Mediterranean,
he has decided that it shall consist of the following
vessels under the name of squadron of evolution,
under the command of Admiral PERCEYAL DE-

SCHENES :—The Friedland, 120 guns ; Hercule, 100 ;
Jemmapes, 100; Inflexible, 90; lena, 90; Jupiter,
86 ; Psyche, 40; Pomone, 40 ; Descartes, 540 horse-
power ; Vauban, 540 ; and the Caton, 260. The
.Descartes, not being yet ready for sea, is to be finished
in her repairs as quickly as possible.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK-EXCHANGE, AUGUST 18.
East Indian, 3% —Greaklndian Peninsular, s%—Northern
of France, 3A dis.

He who can implant courage in the human soul, is
its best physician,—Eliza Cook's Journal