The Sun.
London, England, 1849-04-09 00:00:00

jeopardized by the lust of conquest which has abruptly
inflamed the ambition of Germany. Sicily perceives
with horror the inimical advances of the Neapolitan
despot towards the extinction of her freedom and the
degradation of her nationality. It is from the clear-
ness with which the Danes recognise the shameless
intentions of the pseudo-Emperor and with which the
Sicilians observe the designs of King Bomba, that
both the one and the other are solicitous to bring the
momentous quarrel to an issue as rapidly as possible.
Were we to overlook this fact, or to underrate its im-
portance, we should be peculiarly liable to accuse both
the Danes and the Sicilians of a rashness altogether
without palliation ; for in either case it appears that
the close of the truce has been decreed by the weaker
party, and the horn of war sounded by the eager lips
of the defenders. When it is remembered, nevertheless,
that it is, in a particular degree, to the interest of
each to push forward the struggle to its close, and
that the prolongation of the late armistices could
only tend to the accumulation of force under the
banners of the aggressors, it is clear that the reso-
lution arrived at almost simultaneously in Copenhagen
and Palermo, possesses something more than a spe-
cious justification. The course adopted was imperative.
For the sake of justice, and for the discomfiture of the
assailants, it was essentially necessary for the arma-
ment of FREDERICK WILHELM to be attacked in
one direction, and for the armament of FERDINAND
to be attacked in another. The rupture of either
armistice was forced upon the weaker side by cir-
cumstances—not seized through an idle emotion of

temerity:
Attention will henceforth be divided between the
aggressive movements of Austria upon Hungary ,
—of Russia upon Aloldo-Wallachia—of Naples upon
Sicily—of Prussia upon Denmark. Our sympathies,
it is scarcely necessary to say, will continue, as they
have been all along, on the side of those brave men
who are opposed to the secret or open promoters of
reaction, under the command of WisanscriGuAxs,
of DUHAMEL, Of FILANGIERI, and of the successor
of WRANGEL. Unaffected in the midst of the fluctu-
ations of sympathy which are unhappily at this time
so often perceptible, we preserve that devotion for
the cause of the unfortunate, which cannot in every
instance survive their reverses, and much less outlive
the moment of their approximating discomfiture.

Before the news of battle from the scenes
of contention have thronged in so abundantly
as to absorb the greater part of public obser-
vation—before the details of the events trans-
piring between the eight struggling powers
(Russia, Austria, Prussia, and Naples on the
one hand, with Sicily, Denmark, Hungary, and
Moldo-Wallachia on the other) have engrossed
general attention, to the exclusion for the time being of
all generalties—it may not be unimportant to direct
the popular intelligence upon one point which bears
in an especial manner upon the great cause now at
issue throughout Europe. In every instance it will
be observed that the reactionary party have been the '
aggressors and the depressors, the robbers and the
assassins, in Wallachia, in Hungary, in Sicily, in
Schleswig. If it is said that democracy has been
stained with atrocities during its late battles
against kings and emperors—we ask what are the
crimes of the Hungarians, of the Danes, of the popu
lation of the Danubian principalities ? 'We say of
the Danes, because the Danes are fighting under the
flag of a sincere democrat against men leagued to-
gether under a fictitious enthusiast for democracy.
If cruelties are laid to the charge of the Sicilians—
we ask what would have been the conduct of the least
ferocious amongst us if we had beheld our homes and
altars violated with a barbarity that made even the
uninterested spectators shudder with abhorrence,
and at last assumed an aspect of such diabolical atro-
city as to compel the British and French Admirals to
interfere, although unauthorised to do so by their
Governments? While the reputation of DUIIAMEL
has grown daily more and more sinister, until its
infamy has glared even as far as the shores of England
—while JELLACHICII has desolated vast tracts of coun-
try with the barbarous weapons of his Croatians—
while WINDISCEIGR,ITZ has acquired an infamous
celebrity by his judicial murders and wholesale mas-
sacres—we ask the apologists of reaction and the ac-
cusers of democracy to point out one slur upon the
fame of KOSSUTH, one stain upon the sword of BEM,
one blot upon the venerable renown of the undaunted
and indomitable SETTIMO ? Where is there a single
city depopulated or ravaged by the democrats ? And
while we make that inquiry the imagination will
summon again before it the smouldering ruins of
Messina, the battered walls of Bucharest, the deso-
lated streets of Pesth, and the still dilapidated
suburbs of Vienna! While individual assassinations
are recorded against the peasants of Hungary, re-
iterated murders, rendered yet more atrocious by their
deliberation under the pretence of trial and execution,
have been brought home to the Prince Field Marshal
WINDISCIIGICATZ and the rest of the high and mighty
champions of the cause of Absolutism. It is conse-
quently with this species of odium attached to their
banners that the Russians, the Austrians, the Prus-
slam, and the Neapolitans are now fighting sword to
sword with their antagonists. We leave the com-
batants to their destiny, with one cry—GoD defend
' the right !

The committee appointed by the shareholders of the
York, Newcastle, and I3erwick Railway Company to
investigate the Great North of England purchase ac-
count have just published their report, together with
the evidence on which it is founded. The report it-
self will be found in another part of our impression
this day, and we shall on an early occasion give the
entire of the evidence in extenso. It will now be seen
how unwarranted were the accusations that were
put forward with such pertinacity and virulence
against Mr. HUDSON. There had unquestionably
been mistakes, but it was manifezt that Mr. HUDSON
was not cognizant thereof, and that the moment he
discovered that higher prices had been paid to him
than to others from whom shares had been purchased,
and before any inquiry into the transaction was in
any degree spoken of, be gave a cheque for 2,8741. on
account, and informed the secretary-that immediately
after the meeting "he would go carefully
into the account, and have the matter set right."
This fact fully explains the statement made by Mr.
HUDSON at the meeting of the 20th of February last,
that "if he had received any overpayment he would
be ready to set it right," a statement which was tor-
tured into an admission of guilt sufficient to justify a
violent attack even while the matter was sub judice, to
seal his condemnation before the charge was in any
degree investigated.
A short summary of the facts appearing on the face
of the report will enable our readers to understand
fully the state of affairs.
" The agreement for the purchase of the Great North
of England Railway was entered into provisionally in
the month of June, 1845, and the Act of Parliament for
carrying out that agreement passed on the 27th July,
1846.

" At the time when such agreement was entered into,
and such Act passed, Mr. Hudson had not any share or
interest in the Great North of England Railway, nor
were any shares ever allotted to him."

These unquestionable facts must completely and
for ever set at rest the various calumnies
that have been industriously circulated, as
to Mr. HUDSON'S being in any degree
personally interested in paying a higher price for the
Great North of England Railway than it was fairly
worth to the company of which he was the chairman,
and in which he had made very large investments.
It may, possibly, be considered at the present day,
with the recent experience of railway prices, that the
bargain was very unfavourable to the York, New-
castle, and Berwick Company ; but such was not the
general opinion in the month of June, 1845, when
what has been termed " the railway mania" was at its
maximum, and when shares in every description of
project commanded the moat extravagant prices. It
was considered a Fnatter of the utmost importance to
the Newcastle and Berwick that the Great North of
England Railway should not fall into the hands of
rivals, who might be thereby enabled to enter into a
most formidable competition, and to abstract a consi-
derable portion of their traffic. Whatever may now
be thought of the policy of the transaction, when
there is no longer a danger of opposing lines
being sanctioned by the Legislature, it
was undoubtedly thought a masterly move
at the time of its occurrence, and that
the purchase was made at as moderate a rate as could
reasonably have been anticipated. Under any cir-
cumstances Mr. HUDSON could not have gained-a
single shilling by the transaction. hvi not then,

nor for a long period after, a single share in the Great
North of England as original allottee, or as purchaser
in the market. He must, therefore, be entirely exo-
nerated from every imputation on that score.
After the Act legalising the purchase had
received the legislative sanction, Mr. HUDSON
bought sundry shares from different brokers at
the market price of the days, these purchases having
been for the most part made in the early part of
October, 1846. "On the 26th October, 1846, a
special general meeting of the shareholders of the
York, Newcastle, and Berwick Railway Company
was held, when a stock was created to provide
for the purchase of the Great North of
England shares." This was clearly a mat-
ter of sound policy, for if the matter had
been deferred until the last moment, it might have
been impossible to have procured so large a sum as
3,500,0001., and the consequences might have been
deeply injurious, if not absolutely ruinous, to the
shareholders, if they had been unable to com-
plete the purchase, and proceedings had been insti-
tuted against them in Chancery for the default.
By spreading the payment over a period of three
years and a half this danger was averted. After the
termination of this meeting the directors assembled
together, when it was resolved that Mr. HUDSON
should have the management of the purchases. No
entry was made respecting the resolution, an omis-
sion which was accounted for by some of the
directors, who stated (Question 136) "that it was
thought advantageous that the shares should be
obtained as quietly as possible, because if it was
known that the company were purchasers, the shares
would be more difficult to obtain." The
committee do not consider this a sufficient
reason for the omission ; we cannot how-
ever, arrive at the same conclusion. Every addi-
tional degree of publicity would give greater firmness
tO the holders, and materially enhance prices. It
therefore seemed to be a prudent precaution. If,
however, there was an error, it must be looked upon
merely as one of judgment, and not involving any de-
gree of criminality whatsoever.
Mr. PLEWS, one of the directors!, was re-
quested to make a calculation of the value
of the different classes of shares, which
he accordingly did, and forwarded to Mr. CLOSE,
the secretary, as he believes, either on the 27th or
28th of October. It must have been on the former
day, as it appears to have been made the basis on
which Mr. Humsox sold all the shares he had pre-
viously acquired to the company.
On the 27th instant this sale took place. Mr.
HUDSON could not have purchased for the account of
the company until he was authorised to do so. He

had, however, purchased on his own account, and it
seemed to him most correct to dispose of those shares
to the company in the very first instance within the
limits assigned, which were based upon Mr. PLEWS'S
calculation, a fee- simile of which is appended to the
report, and which, in our opinion, fully explains the
error into which the secretary subsequently fell.
Mr. PLEWS, it appears, estimated the money to be
expended in the purchase as being worth 5 per cent.
interest, and on that basis he calculated the
value of the 1001. shares as being worth 2411. 55.,
the 401. shares at 631. 55., the 301. shares at 721.155.)
and the 151. shares at 211. ss. 3d. Unfortunately,
however, he did not work out the details of the value
of the 151. shares' as he did of the others; and at
the end of the calculation he placed 31. 3s. 6d. oppo-
site the 151. shares, which was assumed by Mr. CLoss
to represent the profit that would be realised by pur-
chasing at 211., the market price of the day. He
therefore, stated to Mr. HuDsoN that Mr. PLEWS had
calculated the value at 241. 3s. 6d. per share. Mr.
HUDSON, therefore, desired him to enter the prices at
23/. 10s., or 13s. 6d. below what he supposed to to
the estimated value, thus giving the advantage (as he
at the time conceived) in every point to the company,
and more so in proportion in the shares of which he
was the largest holder.
We regret that our space this day will not enable
us to conclude our observations on this important
subject. We must, however, express our deep satis-
faction at finding that a gentleman whom, although
differing widely in political feeling, we have ever re-
garded as a man of honour and integrity, has passed
unscathed through the trying ordeal to which he has
been subjected, and that nothing in any degree pre-
judicial to his character has been elicited during the
inquiry, although his two chief accusers oc-

copied the rather anomalous position of judges ;
and Mr. PRANCE, the chairman of the committee,
was at the same time presiding judge, prosecuting
counsel, and witness to sustain the charges. There
may have been irregularities which the committee
(so constituted) are inclined to visit very severely on
Mr. HUDSON ; but there has been nothing in any
degree approaching to fraud, or which might not
have been committed by a man of the highest integrity.
We congratulate, therefore, Mr. HUDSON, on
his complete and satisfactory vindication ; we con-
gratulate the shareholders of the York, Newcastle;
and Berwick Railway that the honour of their chair-
man remains intact; and we congratulate ourselves
in not having joined in the general outcry, but
pointed out how the statements made were consistent
with Mr. Tiunsox's entire innocence—innocence that
has now been so triumphantly established.

THE FRENCH REPUBLIC.

We have received the Paris papers of Saturday and
yesterday.
The cholera still continues to make fearful ravages
in Paris among the upper classes of society. M.
DOSNE, the father-in-law of M. Limas, died of
cholera on Friday. The official report on Saturday
showed, however, a decrease in the number of the
cases. The cholera, after having increased from the
3d to the sth, diminished from the sth to the 7th. On
the 4th and sth 89 new cases occurred in the Sal-
petriere; on the 6th and 7th the number was only 75.
The total number of cases which had occurred in the
hospitals up to last evening was 1,150, of which 667
died. Of this number very nearly the half were in
the Salpetriere.
Officer General
o
ft
hCen N
LegionGAß of
NI ERHohnaosurbbeeynthcerepaateEdslDGErsaTn.d
The
on
first party Thur
Thursday and
e English
on Friday a d
excursionists
ep arrivedutaon
at
Paris
waited on the Minister of the Interior. To an ad-
dress made by the secretary, and in which he de-
scribed the party as a deputation of merchants,
magistrates, and citizens of different towns in England
desirous of cultivating friendly relations with the
French nation, the Minister replied in English, that
it was not necessary for the visitors to have an official
character in order to obtain a cordial reception. He
had, he said, visited the principal establishments of
England, and could appreciate the importance of the
interests represented. He added that he was sincerely
desirous to see established more and more between
France and England the sympathy so important to
the interests of the two nations and to civilisation.
The Minister of Public Works has given orders for
all the national chateaux and reserved parks to be
open to the visit of the English party who arrived on
Thursday.:
M. GUIZOT is announced as a candidate for Calvados.
An official return is published by the Moniteur of
the amount of Customs duties received in January
and February of the present year. It is 20,938,938 f.
In 1848, the returns for the corresponding months
were 17,483,06 f. ; and in 1847, 16,940,839 f.
M. NAPOLEON BONAPARTE arrived at Bordeaux in
the morning of the 3d, on his way, to Spain. At five
in the evening he received at the Hotel de France the
Members of the Bureau of the Committee Central
Democratique Napoleonienne of the Gironde, and as-
sured them of the high estimation in which he held
his being proposed by the Committee as a candidate
for the department. Very shortly after this he left
Bordeaux.
The political prisoners condemned at Bourges have
been sent to Doullens. HUBER has been brought to
Paris, and imprisoned at the Conciergerie. The
Patric says that BARBES and ALBERT will probably
be transported.
The Patrie says :—" King Charles Albert, while
at Bayonne, was recognised by several persons by
whom he was known in 1823, when the French
army, in which he served as a simple grenadier,
passed through that town. In this campaign Charles
Albert, who was then Prince de Carignan, was no-
ticed in an order of the day to the army for his
valiant conduct in the attack of the Trocadero.
Another circumstance attracted further attention to
him at Bayonne. On the return of the army, in
1824, a violent fire broke out at Bayonne : the Prince
de Carignan, with a few sappers, was the first to
give assistance, and on the roof of the burning house
risked his life in his endeavours to extinguish the fire.
Charles Albert left Bayonne on Monday ; at the mo-
ment of departure his carriage was surrounded by
an immense crowd who stood bareheaded notwith-
4tanding the heavy rain that was falling. He took
the road to Saint •Sebastian, hoping to find there a
steamer for Oporto."
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