The Sun.
London, England, 1849-02-16 00:00:00

01/4-
illeintit

LONDON, FRIDAY, FZBRUARY 16, 1549.

The construction of railways throughout our
Asiatic and American colonies is a project so fraught
with advantages both to the mother country and to
:ber remotest possessions, that the imagination is
almost bewildered by its magnificence. To give a
simple enumeration of these advantages within any-
thing like reasonable limits would be a miracle of
literary condensation. But a rapid mention of some
of the most conspicuous and important may be
sufficient to demonstrate the ingenuity, the genius,
and the patriotism of those who have proclaimed the
necessity as well as the practicability of the under-
taking. Every one who regards with proper vigi-
lance the progress of British power and of European
civilization in our Oriental dominions is ac-
quainted not only with the scheme now
on foot for the establishment of a gigantic
line of steam communication between the diffe-,
rent provinces of Hindostan, from Tanjore to.
Agra, and from Bengal to Hyderabad, but are
likewise familiar with the differences that have
interrupted, for the time being, the prosecution of
the adventure in consequence of the very reasonable
demeed made by the Directors of the Company, that
the Indian Government should guarantee the share-
holders a minimum dividend as an indemnity for the
loss of that authority which will be retained over the
whole system and working of the Indian railways,
by the Council at Calcutta and the Court in Leaden-
_ hall- street. Every one, however, is not equally aware
of a still more extraordinary proposition which has
recently emanated from a distinguished officer in one
.of her iiajesty's Highland regiments,* a proposi-
.tion fully and eloquently unfolded by him in a letter
'addressed to his friend, the celebrated novelist and
wit, llALmuaTost. According to the scheme dis-
closed in this remarkable pamphlet, mails, merchan-
dize, and passengers might be perpetually conveyed to
and Cro between England and her colonial territories
in the two hemispheres without having to traverse
the roads of continental Europe (which roads might
be rendered impassable at any moment by the out-
break of a general wart G
), and without the, necessit
of having to double eiher the Cape of ood Hopey
or Cape Horn, where the seas are as tem-
pestuous as the voyages are circuitous ; and
the, intercourse between Great Britain and her most
distant and scattered possessions would not only be by
thig -means less liable to interruption, but it would
be infinitely 'more rapid, and, in every respect, more
convenient. The proposed line of railway would
link 'together the 'two oceans, the Pacific and the
Atlantic; it would 'stretch in a direct line across our
colonies. in North America; it would commence at
Halifax, in Nova Scotia, and would terminate at
Frazer's River, pouring into the Gulf of Georgia ; it
would communicate by steam.vessels with the ports
of the United Kingdom in one direction, and in
the other would promote a continual interchange of
*commodities and intelligence with Pekin, with Canton,
with Australia, with New Zealand, with the Spice
Islands, with Ceylon, with Madras, and with Cal-
cutta. As an incitement to the enterprise of the
nation, and the Government, it is mentioned by the
projector (p. 22) that it is the determination of the
United States to commence at once, and to complete
with the utmost rapidity, a line of railway, extending
from New-York to the bay of San Francisco (" the
finest harbOar in the world "), and in this man-

A Letter to the Author of the Clockraaker' '
con-
taining thoughts on the subject of a Railway Comintt-
dation between the Atlantic and the Pacific, from til
magnificent harbour of Halifax, in Nova Scotia (North!
Eastern America), to the mouth of Frazer's River, in
New Caledonia (North-Western America), or such other
Port u Egli), be determined upon." a YO. pp. 59,, Lon,
. Metall LI; I a 49.

. r.

ner to afford a medium of communication
such as would convey the mails in one direction to
Canton in fourteen days, and in the other direction
to London in nine days—travelling the entir,, distance
between Macao and Thanet hi the astoundingly short
period of twenty-three days !
Having stated the nature of the intended line be-
tween Frazer's River and Nova Sco a—having
insisted upon the urgent requirement of some more
secure bond of union between the Home Government
and the dissevered Administrations in our Colonies—
having, moreover, endeavoured to stimulate the
energies of his countrymen, by announcing the
rival determination of the inhabitants of the
United States, the author of the pamphlet relating
to railway communication between the Pacific and
the Atlantic recapitulates some of the innumerable
and inestimable benefits which would flow from the
undertaking. Foremost among them are unquestion-
ably the following :—The North American Railway
from the Gulf of Georgia to the Gulf of St. Lawrence,
running from Nova Scotia by St. John's, through
New Brunswick, across the St. Lawrence and Otawa,
traversing Upper Canada along the shores of Lake
Huron and Lake Superior, through the dominions of
the Hudson's Bay Company to the south
of Lake Winnipeg, over the chain of the
Rocky Mountains to the coast of the
Pacific confronting the island of Vancouver—
this enormous line of railway would then be the first
substantial employment of that felicitous fact which
has been intimated in the expression that the shores
of the Pacific constitute "the end of the West and
the beginning of the East." It would enable the
busy population " from Halifax, from Toronto, from
Montreal, from Quebec, from New Brunswick, from
Byetown, from Kingston, from Hamilton, and from
the Red River settlement, to pour across the rocky
mountains of Oregon the produce of the West in ex-
change for the riches of the East." It would
render the whole Pacific alive with all descriptions
of vessels, sailing and steaming from our mag-
nificent Colonies—New Zealand, Van Diemen's Land,
New South Wales, New Holland, from Borneo and
the West Coast of China, from the Sandwich Islands,
and from a thousand other places, all carrying the
rich productions of the East, and landing them at the
commencement of the West, to be forwarded and dis-
tributed throughout our North American provinces,
and to be delivered in thirty days at the ports of
Great Britain." It would bring Halifax within a
a distance of merely fifteen or twenty days
from the north-west coast of North America
It would form "the great linh required to unite in one
powerful chain the whole English race." It would
penetrate the enormous barrier of the Rocky Moun-
tains. It would, in a particular manner, bind toge-
ther the interests of England, of the Hudson's Bay
Company, and the Canadas. It would present a
magnificent field for the employment of gangs of con-
vict labourers—criminals who by clearing and en-
closing lands, by constructing roads and building
bridges, would be withdrawn from the diabo-
lical contaminations of the penal settlements,
and would unconsciously, be instrumental in for-
warding the, grand labours of civilisation. It would,
byserecting a terminus in the vicinity of Quadra,
bring within fifty days sail of that point—Australia,
Canton, Pekin, Borneo, New Guinea, and New
Zealand. It would pass through regions "rich in
mines of silver and copper," such as the vicinity of
Lake Superior. It would draw into use the abundant
timber of the Oregon, the plentiful coal of Van-
couver's Island, the iron, lead, and tin, the granite,
slate, and sandstone, the oolites, the cattle, wool,
hides, and tallow, the salted meat, the beef, the pork►
the wheat, the barley, the Indian corn, the apples'
and the rest of the nutritious vegetation which now
flourishes unconsumed in the length and breadth of
the North American Continent.

Such is the noble project of a colonial railway
suggested by this patriotic pamphleteer.

Three important Railway meetings have just been
held. The directors of the Great Western, South-
Western, and Midland Companies have met their
respective shareholders, and presented reports con-
taining the fullest information on every point on
which it could be desired. Many important matters
were introduced that may materially influence the fu-
ture prosperity of the several undertakings. Complaints
were most justly made of the enormous burdens
imposed upon the industry and enterprise of
the community by the enormous charges levied
upon the property of the proprietors in the
shape of parochial and other rates and
taxes, and also of the tax on the passenger traffic.
It will be found in every instance that these charges
not only constitute heavy items in the working ex-
penditure—which is materially increased thereby—
but that it practically amounts to a very heavy in-
come-tax on their dividends. The question may
speedily arise how far the Legislature are justified in
subjecting railway property to imposts so heavy and
burdensome, by some of which they are almost exclu-
sively effected. Some time since a clamour was excited
against " the inordinate profits of the railway compa-
nies." It appeared to be considered a meritorious act to
place any charge or incumbrance for which there was
the slightest pretext upon them. It was as if they
had exclusive access to some ideal California, from
whence they could gather immense stores of wealth
at their mere will and pleasure, that it was only ne-
cessary to squeeze them sufficiently in order to obtain
benefits for the community at large, not only in the
shape of increased accommodation and diminished
fares, but also in obtaining fourfold payments
'for everything required by the companies, and
casting upon their shoulders an undue proportion of
public burdens. These days have, however, gone by.
The railway companies have seen adversity as well
as others, and although they can still return a reason-
able dividend to their shareholders, they are bound to
exercise a strict and vigilant economy, and to re-
strict their expenses within the narrowest limits. They
will no longer patiently submit to these wrongs
—they will no longer suffer in silence; but where
they feel themselves to be aggrieved, they will appeal
boldly to the honour and integrity of the British
Parliament and the British people, and demand that
justice which cannot be denied when a fair case is
made out.

Although these complaints were justly preferred,
there was full reason to be satisfied in every other
particular with the prospects of the several com-
panies. The dividends declared were not as high
as there is just cause to believe they will be
When the lines in course of construction are com-
pleted, the traffic fully developed, and the savings
and reductions indicated by the directors carried into
execution, still they offered fair and reasonable re-
turns for the capital invested, and none but those who
had participated in the general delusion, and expected
enormous profits, could justly complain thereof.
These dividends will be at the following rates for the
half-year ending 31st December last—that is to say,
on the Great Western Stock 3 per cent., being at the
rate of 6 per cent. per annum ; on South-Western
Stock 21 per cent., or 5 per cent. per annum ; and the
same on Midlands: We shall now allude to the
several statements more in detail.
tohna ta
ectolluen t Go
freat capital,Western
s
p a nayppheaavres receithen,
e cthe ievned ,
Company
amounting in the whole to 11,643,3571. ss. 5d., of
which the sums received on calls amounted to
7,010,7651. 10s., and by debentures and advances in
anticipation of calls on .shares, 404,2644 6s. sd.
These sums, together, 7,415,029/. 16s. 5d., may be
regarded as the paid-up capital of the company, on
which the dividend is to be declared. There has also
been received on debentures, which constitute mort-
gages of the various railways, 3,240,3171. 95., and
On loan notes, loans, &c., 983,0101., making alto.
gather 11,643,3571. ss. 6d., to be accounted for.
Against this, the expenditure of every
descrip-
tion fairly chargeable against capital up to the
31st of December amounted to 11,608,8151. 3s. 9d.,
leaving a balance in hand of 84,542/. :la. Bd. From
the revenue account it appears that the gross receipts
from every source of income for the half-year
amounted to 547,916/. 15s. Id.; that the working
expenses of every description for the same period
amount to 215,0951. lls. Bd., being at the rate of
39.691 per cent. on the gross receipts for traffic, of
which the Government duty on passengers amounted
to 15,332/. 17s. 10d., being 2.944 per cent., and the
Irates and taxes to 16,1631. as. 9d., being 2.713 per
cent. We thus find that the charges levied,
texclusive of.the regular income-tax of 2/. 18s. 4d.
'per cent. on clear profits, amount to 5.657 per cent. .

on gross receipts, or nearly 9.425 on profits, showing,
that, on the whole, the company is taxed to the extent
of about 12.350 per cent. on the sums divisible
amongst the shareholders.
In the South-Western Company the balance avail-
able for dividend is 96,9351. 16s. 2d., of which
92,6831. 7s. 6d. will be applied in payment
of a dividend after the rate of five per cent.
per annum on the paid-up capital, leaving
a balance of 4,2521. Bs. Bd. to be carried over
to the next half-year. The public charges on this
company are even more onerous than on the Great
Western. The parish rates during the half-year
amounted to no less than 10,8331. or upwards of 11
per cent. on the balance available for dividend, from
which 21. 188. 4d. per cent. additional is to be de-
ducted for income-tax.

We regret that we are unable to allude to the de
tails of the'Midland statement this day; we shall
however, do so on an early occasion.

From a letter of our esteemed correspondent, Mr.
RIGBY WASON, which appears in another part of our
impression, it will be seen that it is in the contempla-
tion of Government to render the valuation of
lands, &c., in Ireland fixed for a period of
seven or ten years. This would indeed be a very
lame and impotent conclusion. It would hold out no
inducement whatsoever to parties to improve
their lands to the utmost degree. As Mr.
Wesori has stated, it is well known that
nothing less than a certain tenure of
nineteen years will induce tenants to embark
their capital in lands that are in a proper state of cul-
tivation at the commencement of the term. For lands
requiring reclamation, or which have been exhausted
and worn out by over cropping and bad husbandry,
too often the case in Ireland, a much longer period
would be required, and thirty years would be the
lowest period for which a prudent man would enter.

In the letters on the reclamation of waste lands in
Ireland, which have from time to time appeared in
The Sun, Mr., Wasox pointed out the advantage of
rendering the valuation of lands in Ireland permanent.
By so doing a great benefit would be conferred upon
improving landlords, who would then have every in-
ducement to increase the value of their estates,
and to bring them to the highest pitch of cultivation,
without fearing that their profits would go to relieve
their idle and negligent neighbours. The
milk-and-water measure suggested would, however,
have no such effect. It would, on the contrary, prove
that after a brief period—indeed, almost as soon as
the beneficial results of their expenditure were
coming into operation—they would be likely to
have a new valuation of property, which would place
additional charges on their shoulders. The man-
ner in which railway companies are mulcted for the
improvements they have effected affords a salutary
caution to persons of capital and enterprise. The state-
ments at the meetings of the several companies, which
will be found in another part of our impression, will
act as beacon lights to other parties to warn them
against undertaking useful works until convinced
that they will be dealt with in a fair and liberal spirit.
If the Government really desire to encourage per-
manent and lasting improvements in Ireland—if they
would induce capitalists to embark their property in
the reclamation of the soil, they should render the
valuations permanent, as proposed by Mr. Wasorr, or
fix it for thirty or forty years, at the very least.
Anything short of that term would net meet the real
difficulty, and would be worse than useless.

THE FRENCH REPUBLIC

We have received the Paris papers of yesterday.
The amendment of M. SWUM) to the motion of
M. LANJUINIAB for the dissolution of the Assembly
having been rejected by a majority of 424 to 387, the
original proposition was adopted without a division.
It is supposed that the Assembly will have completed

its labou—ra in about eighty day;, and that the new
Assembly will meet in the month of May.
The Patric has the following from Italy :
"We have good reason for believing that news was
received in Paris to-day that on the sth, at two o'clock
in the afternoon, the Republic was proclaimed at Rome,
and the ton the same day the dethronement of the Pope was
pronounced. The dispatch which brings this important
intelligence, which might have been expected from the
turn things have lately taken, also announces that the
Grand Duke of Tuscany has not left his country, as
several journals have stated, but has taken refuge at
San Steffano. The same news has reached us from our
correspondent at Florence."
The Moniteur publishes the decree, passed by the
National Assembly, authorising the prosecution of
M. PEOUDHON for a libel on the PXISIADENT of the
Republic.

The Journal des Davis has the following from its
correspondent at Constantinople :
By the last English packet, Sir Stratford Canning
received some very energetic and explicit instructions
from Lord Palmerston, which appear to have been writ-
ten after an animated conversation between his Lordship
and M. Brunnow. England complains warmly of the
conduct of Russia in the principalities ; of the violation
of the residence of the commandant of the Turkish
troops, in order to seise a person who had placed him-
self under the protection of that functionary ; and,
above all, of the ill-treatment which an English subject
had received from the Russian authorities. England
is astonished at the prolonged presence of the
Russians in the principalities, and offers to the
Porte the aid of England in obliging them
to withdraw. This communication has created
a lively sensation here. It happened most apropos
that Russia had just, for the second time, made formal
propositions to the Porte for the conclusion of a treaty,
repeating in some of its clauses that of Unkiar-Skelessi,
of disastrous memory. Russia would have made with
the Porte an alliance offensive and defensive. In order
to stifle for ever the liberal ideas which are fermenting
in the Danubian principalities, the constitution of these
principalities was to be modified, after being suspended
for seven years. During the interval of these seven
years the Hospodar was not to be replaced, Russia was
to undertake the police and maintain order in concert
with the Porte, and at the end of the seven years the
two Powers were to agree together as to the future fate
of the provinces. M. Titow has just received from his
Court very pressing instructions for treating with the
Porte upon these bases; and already communications on
the subject have passed between the Russian Minister
and the Divan. This danger, however, is happily
averted by the new attitude assumed by England."
In the National Assembly yesterday, the Minister
of the Interior presented a Bill for the celebration of
the anniversary of the Revolution of February. The
Bill is in precisely the same terms as that proposed
by the report of M. PORTALIS. The fete will be
exclusively a religious one. A funeral service will be
performed in the churches, and alms will be distri-
buted to the poor.
The rest of the sitting, till the hour of post, was
occupied with the discussion on the third reading of
the Electoral Law.

M. NAPOLEON BONAPARTZ, son of the ex-King of
Westphalia, has addressed the following letter to the
Moniteur :

"It is by error that you have inserted my name
amongst those of the representatives who voted against
the order of the day on the subject of the interpellations
of M. Corelli. I was absent at the moment of the vote;
but I should have voted for the order of the day after the
fra❑k and dignified speeches and explanations of the
Minister of Justice."

BOURSE—PARIS, THURSDAY, FEB. 15.
THREE O'CLOCK.—It was expected that the vote in
favour of the Government, on M. Rateau's proposition,
would produce a favourable impression on the Bourse,
and accordingly the rise to day is very nearly 2 per
cent. The apprehension of any further contest between
the Assembly and the Government has now ceased. It
is therefore to be hoped that public confidence will at
length make some progress. The news from Rome
had a depressing effect on the Roman Funds. Ex-
change on London (30 days), 25 27i ; ditto (90 days),
25 20.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK-EXCHANGE, FEB. 15.
Anglo Italian (late Italian and Austrian), I—Boulogne
and Amiens, 93R—Central. of France (Orleans and Viarzon),
10%—Namur and Liege, BN—Northern of France, 9
Orleans and Bordeaux, 34 Paris and Orleans, 31—Paris
and Rouen, 2011—Paris and Strasbourg, 3—Rouen and
Havre, DA—Sambre and Meuse, s%—Tours and Nantes,
214—West Flanders (8 PA.

SPAIN.
Madrid papers of the 9th have arrived.
The Espana says—
" The mail which was dne yesterday from Bayonne
did not arrive. The account we have is that it was at-
tacked beyond Burgos by a party of twelve to fourteen
men on horseback, who carried it off the road and set
fire to it. An equal fate appears to have befallen the
one which left Madrid on Sunday last, the 4th, for
France. Three mail coaches have, therefore, been burnt
within a few days by El Estudiante, who is the person,
it appears, to whom belongs the opprobrium of this act
of vandalism."
The Postilion of Gerona, of the 2d (a Moderado paper),
says "that General Coucha's escort was surprised by
Marsal's cavalry at Fornells, and that was the way the
four officers, who were in advance, were wounded.
As soon as General Concha heard of the af-
fair he sent off the light infantry and Catalan
police to their assistance, upon the approach of
whom the Carlist cavalry made off. It is not said what
the lose of the troops was, but the Carlists are
said to have had five killed and several wounded,
hiswhom c a
vtahl er
yy
for carried
ha
effective
ff General
gr.
ank behavedt
oa C
brevetiloi Con
n cchata reprimanded
the
et
aianffwawho
o;hadand
while he gave
been wounded, and distributed some crosses among the

infantry, ho ordered the uniforms of three cavalry sol-
diers to be stripped off, and 100 blows of a stick to be
administered to each in the square at Fornells."
Nine hundred Carlist Infantry and 80 Cavalry
have invaded the province of Tarragona.
MADRID BoLse.—The Three per Cents. are re-
ported at 211 buyers, 11-16 sellers; Five per Cents.,
10 buyers, 10i sellers; Coupons were done at 6i
cash; Passive Debt, 3 13-16 buyers, sellers.