The Sun.
London, England, 1849-02-09 00:00:00

ITALY.

The result of the Roman elections was proclaimed
in the midst of an immense crowd. The announce-
ment that STURBINETTI was at the head of the poll
was received with the most enthusiastic acclamations.

MR. PHIPPS'S PAMPHLET ON

_
THE THREE AMATEUR BUDGETS.
TO THE. EDITOR OF THE SUN.
SlR,—Had I seen the notice in your paper of the
error in Mr. Wason's calculations or his own acknow-
ledgment of it before my remarks were printed, I cer-
tainly should not have again adverted to it, though I
think his amended calculations open to the objections I
have pointed out. With so fundamental a defect in his
plan still unremedied, I did not think it necessary to
argue against his first proposition, viz., " that it is dis-
creditably dishonest not to pay off the national debt."
Lest, however, I should be misconceived, I would offer
to his candid consideration the following objections to
his arguments OR this point, which I believe may be thus
shortly stated:—" The debt was incurred merely to pro-
tect property against invasion from a foreign foe, there-
fore property ought to pay it off." This argument in-
volves, as I conceive, the fallacy of confounding " pro-
perty" with " the owners of property."
W ithout then contending, as I might, that considera-
tions much more important than the mere protection of
property were involved in the prevention of invasion.
I would remind him that during the 24 years that have
elapsed since the war, a very large part of the property
he would propose to mulct has been purchased with the
hard earnings of the commercial, professional, and
labouring classes, so that to say, that it is " discredit-
ably dishonest" not to pay off a debt assumed to be in-
curred in preserving that for which they have since paid
the full value, by suddenly taking from all such persons
20 per cent. or even 10 per cent. of their whole worldly
substance, would seem to be a misuse of terms. This
observation especially applies to the fundbolders in
whose favour the act of justice is to be done, but who
must not individually be expected to feel very grateful
for the repayment at the price of the day (by means of
a deduction of one•tenth from their whole possessions).
of that which at this moment each may receive without
any such deduction.

ibis. then, appears to be no question between "Oli-
garchs" or " Aristocrats " on the one hand, and the
professional or commercial classes on the other, but to
be a proposal for a violent and sudden change in the
relative position and fortunes of every Englishman, by
which the advantages honestly gained by economy and
industry, would be transferred for the future to those
who have been less providmt. It was with these views,
and with no disrespect for so consistent a reformer as
Mr. Wason, that I took the liberty of criticising (along
with others) his project, which, as it appeared to me,
would impose on certain classes of the community oner-
ous burdens upon untenable grounds.—l have the honour
to be, Sir, your obedient servant,
EDMUND PHIPPS.
Atheneum, February 8.

READING, GUILDFORD, AND
REIGATE RAILWAY.—(THIS DAY.)
The usual half-yearly general meeting of the pro-
prietors of the above railway was held this morning at
the offices of the compiny, in Exchange buildings, Mr.
Alderman Salomons, chairman of tha Board of Directors,
in the chair.

The report stated that the directors were highly de-
, lighted in being able to report satisfactorily upon the
progress of the works, while they could as-
sure the proprietors that the strictest economy
had been studied in the application of the funds.
A good deal of the credit of the economy was due
to the exertions If Mr. Barlow, the engineer, of
this and the South- stern Company, and the directors
had therefore thought it due to that gentleman to bring
his services specially under the notice of the pro-
prietors. The balance sheet represented the total re-
ceipts up to the present time to amount to 228,7591 155.,
and the expenditure to 180,4381. 2s. 2d., leaving a
balance at the bankers' of 48,3211. 12s. 103.
The CHAIRMAN, in moving the adoption of the re-
port, declared his belief thst the line would be completed
within the period necessary for giving it up to the
South-Eastern Company who were the purchasers of the
railway, and he had received a confident assurance from
the engineer the cost of the work would not exceed the
original estimate of 600,0001.
Mr. COOKE complained that interest due to him on his
paid up calls had been stopped because he had not paid
a subsequent call. For instance, interest due to him in
July had been stopped because he had not paid a call
due in September, and he thought it somewhat hard
upon him to stop his interest because ho had not called
for it exactly at the moment it was due.
The CHAIRMAN promised that this defect should be
inquired into, and remedied, it the law would allow it.
In reply to a question from Mr. MORELAND,
The CHAIRMAN said ho could almost undertake to
guarantee that the expenditure should not exceed
600,0001. The time for giving up the line to the South-
Eastern Company had been fixed for the 26th of next
August.
Mr. MACGREGOR, the chairman of the South-Eastern
Company, having seconded the motion for the adoption
of the report, it was put from the :chair, and carried
unanimously.

The retiring directors and auditors having been re-
elected, thanks were voted to the chairman and the di-
rectors, and the meeting terminated.

ADELPHI THEATRE.

The rentree of Madame Celeste, who has been recently
suffering from severe indisposition, attracted an over-
&ming audience to this theatre last evening. She chose
the character of Miami in the Green Bushes, and although
she looked as one who had been suffering from recent
!,,

illuess, yet as she warmed in the part, the fire of genius
overcame the languor of physical debility, and she was
as powerful, as intense, as pathetic as ever. She was
welcomed back to the scene of her many triumphs with
the most rapturous applause. The part of Geraldine
was sustained (for the first time, we believe,) by Miss
Ellen Chaplin, who made quito a hit in the part. Miss
Woolgar's Nelly O'Noil was excellent.

DUBLIN AND BELFAST JUNCTION RAILWAY.—The
portion of this line now ready for opening between Drog-
heda and Dundalk was in3pected by the Government
officer on Saturday last. He found the line in efficient
order, and will recommend that the usual cer-

tificate bo issued by the Commissioners of Rail-
ways, authorising the opening. Thursday, the 15th
instant, has been fixed upon for the public opening
of the line for traffic ; and we are happy to find
that the directors have considered it more advisable
to contract for the working than to incur the expense
and responsibility themselves. They have contracted
with Mr. Dargan to provide the entire working stock,
and to receive payment by a mileage rate. The loco-
motives and carriages already provided by the directors,
will be taken by Mr. Dargan ; so that Iv) loss will he
sustainer: by having them thrown on their Ninth'. Mr-
Dargmn has alEo.contraeted, on similar terms, to work
the DumLik and Enniakillen line Uctween Dili.(laik and
Castleblaney, which, it is expected, will be ready .for
openhag On the 1501 inotant.