The Sun.
London, England, 1849-01-05 00:00:00

ASTLEY'S ROYAL AMPHITHEATRE.

- , Proprietor, Mr. W. Ratty.
Tudei-tlie PlielSnage of her Majesty the Queen, his Royal Highness
• - Prince Albert, &c. -
Ignormous success of the Holiday Novelties, the most astounding in
the lletropolls.—rA gorgeous spectacle.—Herr Hengler, the most
ititraordinary Rope-dancer in Europe.--Brilliant Scenes of the
Arena. -The Arabs in their wondrous Performances.—A new
t .comic Pantomime.

THIS EVENING,
l'he curtain will rise at Seven o'clock precisely to the Magnificent
Spectacle of the-.
• •
" eWARSI OF THE JEWS ; oy, Tt.o Fall of Jerusalem.
After whlch,:Herr Hengler on the Tight-rofve.
'To 'be followed by an, inimitable disp!ay of SCENES IN THE
CIRCT.t; supported by the first Equestrian tal..nt of the day.
'To conclude with a • new Equestrian Pantomirrie, entitled BOLD
ROBIN d 11304. or, The Pretty White Horse and Enchanted*Prin•
cess of Sherwood Forest. ; a , ; ~ • ;
WlviCc,leprote4 AlitAAA,will agpca,2 -
llox-offtee open from Eleven ,
;•. t " • 414tritiMar4sbr,'Mr:17.1Vezi. • '

-
TO COR:'.E4i)rOtlili..V.Y,S;
1441:eimiiiiiinication can be attended to uuless autbeNt
care
d by the name,and address of the writer.
,r Rejected communications cannot be returned.

T 'WEATHER--,SUN OFYICE, 'JANUARY 5.
Tetzttatonzlity, towest, 32 Highest, 33, Noon, 33.
134ostXTEItz
flirty foggy :weather, with rain and sleet.

- - -
WAVER, AT LONDON FliLlH3>>
two. )3'4; Pala. after 10 I Evening, 43. rain. after 10.
To-Mortaodr-=Mornlng, A min. after I I I Evening, 50 min. after 11.

of the insurrection which had recently broken forth
beyond the frontiers of Caubul. Neither is it, by
any means improbable that the disastrous, character
of that supplemental outbreak had , been grieveusly
exaggerated in the course of its `transmlssion
as a rumour from the suburbs of Peshawul%
Notwithstanding the dejection naturally produced
by these calamities—both anticipated and ex-
perienced—the British troops and the sepoys
have shown themselves in every instance the worthy
descendants of the heroic battalions who mingled
their blood with the bang of Arcot, and triumphed
over the legions of the Great Nabob under the mango
trees of Plassey.

From a consciousness of the comprehensive scheme
of the campaign, as already determined upon by the
veteran Commander-in-Chief, and the extensive outlines
of which are by this time more than conjectured—
the principal share of our attention is of course
directed to the line connecting together the cities
of Attock and Umritsir ; for along that
line extend the most important movements
of the belligerents. Yet, in spite of the paramount
attraction thus presented to the imagination, our
mind does not fail to revert with interest to the pro-
ceedings which have taken place in the camp of
General Wilts's. Saddened by an increasing sense
of their isolation, by a belief that the main body of
the Sinde reinforcements had not adventured beyond
Sukkur, and by the accounts obtained respecting the
escape of Colonel LAWRANCE from Peshawur—
the forces under General WHISH were suddenly, on
the 6th of November, assaulted by a formidable sortie
from the battlements of the Moonftea. By singular
good luck the assailants issued forth against
the quarters occupied by the Irregulars of Major
EDWARDES. Under their youthful and heroic com-
mander those troops did not fail to sustain their high
and rapidly-acquired reputation. After driving back
the Seikhs in a hand-to-hand encounter, the soldiers
of EDWARDES were joined by the brigade of General
MARKHAM ; and then, not satisfied with the simple
retreat of their enemies, the Major and the Brigadier
caused their men to advance simultaneously with an
impetuosity which defied opposition. The result of
the attack was as brilliant as could possibly
have been desired the soldiers of the MOOL-
RAJ were, with a severe loss in killed and
wounded, compelled to seek shelter within the fortifi-
-1 cations—one of the most formidable of their outworks
was seized—battery after battery fell into the posses-
sion of the Europeans, and with the exception of two
guns hurriedly conveyed behind the ramparts, the
victors were enriched by the capture of the whole of
the heavy artillery. In this vigorous encounter the
brigade is conceivA to have experienced a loss of
merely six killed and about fourteen wounded, the
sufferers among the irregulars, both killed and
wounded, are estimated at nearly two hun-
dred, whilst their antagonists are presumed to
have borne the brunt of an assault which as far
as regards themselves might almost be designated
a slaughter. The triumphant result of this
collision must in some measure, we conjecture, be
attributed to the indignation excited in the hearts of
the Europeans by the perfidious conduct of the
Asiatics, the latter hiving recently endeavoured to
corrupt the artillery at Dun -Dam, while they had
actually succeeded in inciting to desertion six com-
panies of the regiment of General CORTLANDT.
While these events were transpiring amongst the
brick- kilns and orchards of Meultan, the position of
the other insurgent chieftains was becoming every
day more precarious. CIIUTTUR SINGH continued in
the vicinity of Peshawur, and by those few who re-
garded his destinies with interest it was yet hoped
that victory would cover the banners of the hoary
and graceless rebel of JUMMOO. His son SHEER
SINGH remained at Vizierababad, awaiting a rein-
forcement of five Seikh regiments from the direction
of Bunnoo, until the approach of Bigadier CURE-
TON affrighted him from his lethargy, and com-
pelled him to hasten with the utmost rapidity
to the opposite banks of the Chenaub. Such
was the posture of affairs when Lord Goucu,
crossing the Ravee near Rumnugger. took up
his position within sixty miles of Lahore, and
when, somewhere about the same time, Lord DAL-
, HOUSIE, emerging from the gates of Allahabad,
advanced in the directioo of the north-west frontier:
The question is no longer whether, but when the
Punjaub is to be conquered : and its definitive anexa-
tion with the British dominions has been at length
fully and resolutely -determined upon. Thanks to
the insane faithlessness of the Seikhs, the Asiatic
territories of England will very soon have stretched
as far northwards as the foot of the Himalayas.

Some time since, when railway property was de-
preciated to the utmost, when a panic prevailed in the
market, and purchasers could scarcely be obtained for
shares in dividend-paying lines at any price, we
ventured to offer some encouragement to share-
holders. We exposed the machinations of those who,
for their own vile purposes, invented and circu-
lated the most unfounded rumours, and plun-
dered their fellow-subjects of their pro-
perty without the least compunction or remorse,
and we entreated of the shareholders not to sacrifice
their property.by casting it recklessly on the market
to be sold for whatever it might bring, and thus to
play the game of their ruthless assailants. On the
25th October, when the gloom was deepest, we ad-
dressed the following recommendation to those in=
terested in railway stock, which we shall offer no
apology for transcribing. We said, "On the whole
let the shareholders, not be dispirited. Let them be-
lieve there is a good time 'coming, and it will,
come. Let them determine not to. sacrifice 'their
property for less than its fair value, but to retain it
i❑ their hands until a fair price is offered, and that
price will eventually be offered. Above all, let them
not encourage the 'Bearing' systeprby sending in.
ther shares, to enable those partiesl'O' CorriPlete fb•stir:'
speculative contracts, by wh4 thy nauat„heueunc"
severe losers, if the shareholders do not play into their
hands, to their own grievous loss, perhaps ultimate
ruin." We are happy "to say that those who
followed our advice, an'l acted on the recommendations
which we offered almost every day, had no cause to
regret tbeir confidence. The predictions which we
uttered, have hitherto been verified, and they are still
but in course of completion. There is no word of
hope which we then uttered that is not applicable to
the present enoment. The tide has been turned, and
it has flowed upwards in a gentle but
steady stream. And we have no doubt but that
it will continue to do so for a considerable time,
without let or hindrance, until the actual and bond
fide value of stock is arrived at.

We' are proud to think that we contributed in
some degree to that improvement, by indicating the
causes of the general depreciation, and proving that
the panic . was ascribable in a great degree to the
operations of the 'Bearish' fraternity, and not to any
real' deterioration in the value of railway pro-
perty.' We shall still endeavour to lay a true
state of facts before the public, and to
point out, that prices have not yet attained their fair
level,• and that an improvement to the extent of at
least 25 per cent. on the shares of the principal lines
may still reastmably be expected ; that there is
every prospect that shares will arrive at the quotations
of last January, if not still higher. .

The financial statements that have been issued by
the principal companies completely establish the
soundness and stability of their positions.
They have proved clearly and satisfactorily
that there is every reason to calculate upon
a fair and remunerative dividend being main-
tained without diminution, and that if a general im-
provement should take place, and a greater degree of
activity should prevail throughout the country, a
considerable increase on the estimated profits might
fairly be looked for. In many respects, therefore, the
position of railway property is better than it had been
twelve months since, inasmuch as the shareholders
have now full and satisfactory evidence on those
points which they then took upon trust. Assur-
ances have also been given that demands will not
be made upon shareholders for the construction of
works for which powers had been obtained. Certain
lines have been formally abandoned, at least for the
present, and no progress will be made therein until
the assent of the general body of the shareholders has
been given thereto. We, therefore, unhesitatingly
say, that railway property si-ould now (without any
reference to the state of the Money-market) bear
higher prices than in January, 1848 But, inasmuch
as every circumstance connected with monetary

'airatis is now very much more favourable than it was
,atflititperiod, a still further improvement might
fairlyeberlooked for on that account.
Atthii...tiene last year, the minimum rate of inte-
, reetacc.ptechey the Bank was five per cent., and it
vaS not unfit-the 27th of January that it was re-
duced to four per cent., a reduction which was pro-
tested against in the strongest terms by some of our
contemporaries, as not being warranted by the condi-
tion of the country. That minimum rate .now
stands at three per cent., and if we look to the
high state of the banking reserve (considerably
more than 11,000,000/. sterling), the enormous
amount of bullion uselessly stored in the coffers of
the Bank, and the comparatively small amount of
"other securities," it will appear more than probable
that a further reduction must speedily take place.
The prices of Consols for the opening on the 18th of
January, 1848, were 851; they now stand at 894,
an improvement of 3 per cent., which is
more than warranted by the more propi-
tious prospects of the country. There is
also an improvement in almost every other
description of property save in railways, and although
they are far better than in October, when we endee-
voured to encourage the shareholders, they are still
far below the quotations of January, 1848.
We shall now point the prices of a few of the
leading lines as they stood upon the: 27th January,
1848, the 23.1 October, 1848, and the 4th January,
1849, and confidently ask why a further material
improvement should not take place. North-
Westerns, which in January sold at 1531., had
fallen in October to par or one discount, and have
since rallied to 127/. Great Westerns, which in
January were at 15 premium, and in October at 23
discount, are now 9 discount. Eastern Counties, in
January, 16; in October, 11+; now, 12*. Midlands,
in January, 115 ; October, 66; now, 87. York, Nev, -
castle, and Berwick, in January, 35i ; October, 21 ;
now, 29. York and North Midland, January, 78:
October, 42; now, 57. South-Eastern, January, 31;
October, 20; now, 244. London, Brighton, and
South Coast, January, 43 ; October, 25 ; now
321. London and South-Western, January,
56; October, 36; now, 42. We might multiply
cases, all showing similar results. We have, how-
ever, adduced sufficient evidence to show how fully
our predictions have been verified; and that although
a rise of from 20 to 25 per cent. has already taken
place, an improvement on present prices to at least
an equal extent, may reasonably be looked far witldn
the next few months, unless some unforeseen (-rents
should darken the pelitical horizon and lead to a general
gloom. We therefore repzat the advice we tendered
in October to shareholders, to preserve their property
until a fair price can be obtained, rind to capitalists
to look to railway shares in preference to any other
description-of investment that may offer which does
not possess extraordinary attractions. Let theta
recollect that 6 or 7 per cent. c:9l still be obtained in
safe lines, and to what other quarter can they look
with such favourable prospects ?

1111 E FRENCH REPUBLIC,

We have received the papers of yesterday.
It appears that there will be no explanations in the
National Assembly on the subject of the recent dif-
ference between the Prince-Pa ESIDENT and his ex-
Minister of the Interior. A quasi reconciliation has
been patched up. The PEACHUM and LOCKIT of the
Republic, exclaim "Brother ! Brother ! we are both
wrong ;" and forthwith fraternise.
The proposition of M. RATE AU, fixing the general
elections for the new Legislative Assembly for the
4th of March, has been rejected by the Committees
of Legislation and Justice, to which it bal been
referred. The Committee of Legislation rejected
the mrasure by a majority of 19 votes to 18, and in
the Committee of Justice the votes were 18 to 18.
A report on the question will be submitted to the
Assembly.
In the sitting of Thursday, the National Assembly
resolved that henceforth there should be three deliber-
ations and three votes on every measure before it can
have the force of law. The Assembly also adopted
a Bill authorising the Bank of France to make a loan
of three millions to the department of the Seine, and
another granting a credit of 400,000 f. to the Minister
of Public Works for indemnities to the clergy ; and
another credit to the Minister of the Interior of
130,000 f. for the expense of the transported in-
surgents.
The following law has been proposed to the As-
sembly :
"Shall be punished with imprisonment, varying from
six days to three months, and a fine of 100 f. to 1,000 f.,
all who have conspired to cause a rise in wages, either
by menace, violence, or any other means of intimidation;
or by workmen abandoning their workshops, or by those
who employ them suddenly dismissing them without
conforming to the stipulations mutually agreed upon."
The proposed conferences on the affairs of Italy,
which were to have been held at Brussels, are, it is
said, indefinitely postponed. We find the following,
on this sulaject, in the Patrie
" Some days ago we announced that M. de Ricci, the
Sardinian-Ambassador, who was to represent the Court
of Turin in the conferences at Brussels, had quitted
Paris,; leaving in his place the Count d'Antioche, as
elitirg6cl'affaires, and M. Barromae as first secretary.
This fact has led to the belief in another, which, without
being'OffiCial, Was current yesterday in the diplomatic
world. The Congress of Brussels will ,not take place.
The project of mediation may be considered as aban-
doned. It is well known that Austria only accepted the
mediation by constraint. She has therefore seized with
readiness the-first opportunity, of pointing out the inuti-
lity of conferences which could lead to nothing. The
programme. manifesto of 'Gioberti has been made the
pretext. Gioberti said that Sardinia would not cease
to prepare _ for war.' Austria has pretended to see in
th,at assurance.a sort of declaration of war,- and she has,
ii is said, proclaimed that the Congress was an absurdity
from -the moment that Sardinia did,not think of peace."
,•,Ciao Caaitilittionnel, in relation-to the departure of
the Sardinari Envoy from Paris, says, it must not be
nfeiTed, from the sudden departure of the Marquis
..41fir, that .the.. Congress at -Brussels has been
iihandoned. The Marquis DE Ricci was recalled in
orderiO', nßother place, Ann the.sardinian Govern-
ititent a*.t OnCe Ennounced., to the. ceabitietteof Paris and
Lond,Otj:That another Envoy would ,16. at oiCce!ap-
stead, with aimilar,povers..s,
The GranCpuchess STEPHANIE of Baden, Jthe
cousin of Queen HonTralss and the mother of the
Marchioness of DOUGLAS, is daily, expected in Paris
to do the honours of the Elysee Bourbon.
Great dissatisfaction is expressed. by many of. the
National Guard at, th.e manner of tbe,reception of the
PRESIDENT on New-year's-day; they also object to
the personal entourage of the PRESIDENT, as being
Composed' of persons, who are known to be hostile to
Republican principles.
The Ministry is considered to be in a very ricketty
condition. Overtures, it is said, have been. made to
M. DUFAURE to join the Cabinet.
Marshal BUGEAUD has arrived at Lyons.
M. PROUDHON is suffering from an attack of typhus
fever.
M. DE FALLoux, the Minister of Public Instruc-
tion withdrew yesterday the measure respecting
public instruction which had been introduced by N
CARNOT.

The Moniteur publishes a decree appointing a
commission, to draw up, along with the Minister of
Public Instruction, a law with respect to primary
instruction. The commission is composed of the Mi-
nister of Public .Instruction himself, and MM. Pou-
LAIN DE BOSSAT, CUVIER (pasteur) MICHEL, assistant
of Father GERARD ; ARMAND DR MELUN, President
of the Society of Economical Charity; HENRI DE
RIANCEY, member of the same society; COCHIN,
member of the Society of the Friends of Infancy ; and
MM. BUCHEE, SIBOUR,ROUX-LAVERGNE, DE .MON-
TREUIL and PEUPIN, representatives of the people.
Another decree appoints a similar commission re-
specting secondary instruction, consisting of the
Minister and MM. Cousin, St. Marc Girardin,
Dubois, Dapanloup, Vicar-General of the diocese of
Paris; Janvier, Laurentie, Inspector-General of the
University • Bellaguet, President of the Chefs cl' In-
stitutions of the Seine ; and MM. Thiers, Freslon,
Montalembert, Come, Corcelles, and Fresneau, repre-
sentatives of the people.
The ceremony of the formal installation of JEROME
BONAPARTE, as Governor of the Invalides, took place
yesterday. JEROME BONAPARTE arrived at the In-
valides at noon, accompanied by his son Jerome Na-
poleon Bonaparte, General Changarnier, and Lieute-
nant- Colonel Ciary. There were also present Colonel
Cipriani, the aide-de-camp of Jerome Bonaparte at
Waterloo ; M. de Vatry, Count Walewski, M.
Arrighi de Padua, and his son, M. Thayer; the
Director-General of the Post-office, &c.
General PETIT and his staff received the new
Governor at the entrance. The Invalides were then
formed into a square, dressed out in their dress equip-
ments. Among them were several who left their sick
beds to do honour to the brother of the EMPEROR.
After JEROME BONAPARTE had been proclaimed
Governor of the Invalides, General PETIT surrendered
to him the command; after which he addressed the
old soldiers in the following terms :
" Officers, Subalterns, and Soldier 3 !—The Govern.
meat of the Republic, in callin . tn,- to the h-nour of
commlnding you, and in entrusting tile with the custody
of the tomb of the Emperor, my brother, endeavoured to

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