The Sun.
London, England, 1848-11-24 00:00:00

THE SUN,

• " A Few Words on a State Endowment for the Irish
Clergy." By a Catholic Ecclesiastic. • Pp. 32, Bvo.
Ridgway: London, 1848.

Many valuable suggestions are contained in that
letter ; and although we cannot agree with the author
in every particular, we must admit that the points
to which he refers are worthy of mature and
attentive consideration, and that beneficial re-
sults would very probably follow if some por-
tions of his advice were carried into execu-,
tion. We are disposed to place confidence in Mr.
WHITEHEAD'S assertion, that he wishes "to sustain
railway property in its integrity, to see it placed
above doubt, so that the most timid may select it
without fear for the means on which their income—
their all—depends." His letter contains internal
evidence of the fact. It is not vox et praterea nihil,
a mere lip service, a profession of friendliness towards
those whom he is at the moment endeavouring to in-
jure. On the contrary, he speaks in the most
favourable terms "of the present and prospec-
tive position of the company," about whose
affairs he is writing, as detailed in their recent
statement, which he truly declares to be " a docu-
ment of the highest importance," and adds, " its
publication has not only dispersed every doubt of the
solidity of that enterprise ;" but it has done more—it
has imparted confidence and comfort to proprietors in
these railways, the stocks of which have experienced
equally with your own, the blasting effects which
want of confidence ever carries with it." This is not
the language of a concealed enemy. It is an admis-
sion that would not readily be made by one anxious
to promote the objects of the " Bears." His ob
jections may, therefore, be regarded as those of
a friend anxious to sae a really sound undertaking
placed upon the most favourable foundation, and to have
its capabilities fully developed. His arguments are
therefore entitled to a calm and dispassionate perusal,
and to carry with them the weight to which they may
be justly entitled.

Mr. WHITEHEAD argues forcibly against the prat
tical monopoly of the goods trade that has been ob-
tained since the company became carriers on their
own account, and compelled those who had previoUsly
carried on the business to retire from the unequal
contest. This course, he avers, has been alike inju-
rious to the interests of the community and of the
shareholders. According to the former system, all
private carriers were permitted to use the line under
certain regulations. They collected and delivered
the goods, took every risk upon themselves, and paid
certain stipulated tolls for the use of the road, and for
the locomotive power. This allowed a clear and cer-
tain profit to the company on every transaction,
while at the same time that competition was main-
tained amongst the parties engaged in the traffic that
was so very desirable, and which afforded the best, if
not the only, security to the public against any over-
charge, undue detention of goods, or other impropriety
of conduct. This has now been altered. The private
carriers have been driven from the field, and the mo-
nopoly would be complete but that new and unex-
pected rivals appeared. The canal companies Lave
followed the example of the railways, and also
become carriers on their own account. A brisk com-
petition is now taking place. The canals convey
bulky or heavy goods at a much cheaper rate ; on
the other hand, the railway possesses incalculable ad
vantages in the additional speed obtained (often of
the utmost importance), and also in the certainty that
the traffic can be carried on at all times, without
impediment or interruption— that the " goods" sent
for speedy transmission cannot remain icebound for
weeks together to the serious injury of the owners.
Both parties are exerting all their energies to defeat
the other. The charges are, therefore, at present
(as stated by Mr. WHITEHEAD) ruinously low, so
much so, " that a considerable portion of the profit
derived from passengers cannot fail to be absorbed
by the losses which are incurred in the conveyance of
goods." Without in any respect pledging ourselves
to the accuracy of this assertion, sufficient appears in
the comparisons which Mr. WHITEHEAD has made
between the earnings of carriages for the conveyance
of passengers and those for the conveyance of goods
to justify the alternative, that " either the goods
rates are too low or the passenger rates are too high."
It may be said that the public benefit by the present
low charges for the carriage of goods and merchan-
dise, and that if the company are willing to carry on
the traffic, either at an absolute loss or a very inade-
quate remuneration, they should not Le interfered
with therein. This argument, however, can-
not stand ; for any position radically wrong
cannot permanently be maintained. The gain,
therefore, will be but temporary, and much
more will be extracted from the pockets of the
public when the monopoly is completely established,
than will be an equivalent for the present advantage.
Mr. WHITEHEAD shows that, at present fares, a
first-class express carriage from London to Manches-
ter " is capable of earning 38/. 55.; a second-class
carriage, for the same distance, 40/, ; a third-class
ditto, 251. ls. 4d.; while a goods truck can only ob-
tain 51. 55., and a cattle truck only 41. 14s. These
are certainly startling facts, and require explanation.
The suggestion that the passenger fares should vary
in proportion to the rate of speed at which they are
conveyed appears to be a useful one. Third-class
carriages would not then be made uncomfortable for
those whose necessities compel them to resort thereto,
in order that others in better circumstances may be
forced into the other classes. The Legislature
should, however, be appealed to, to sanction such an
arrangement, the present enactments forbidding such
an attempt.

Persons having capital at their disposal cannot do
better than to inspect the table of returns that may be
obtained for money invested in Government Stock,
or in what is termed Preference Shares—that
where one of the great companies has guaranteed a
certain amount of dividend, which must be paid in
full before any sum can be divided among the share-
holders. These guaranteed stocks are fully as safe
as Consols themselves; and yet, in many instances,
nearly 6 per cent. can be obtained without a possibi-
lity of risk or loss.

THE FRENCH REPUBLIC.

We have received the Paris papers of yesterday.
The Legitimatists, or more properly speaking,
the Parti Pretre, speaking through their organ, the
Gazette de France, have at length thrown off the
mask, and declare openly that they shall vote for
Louis NAPOLEON BONAPARTE, because his success
will lead to the immediate dissolution of the Assem-
bly, and ultimately to the destruction of the Republic.
As the Sernear justly observes, " the Legitimatist
party, squires and priests, peasants and beggars, shop-
keepers ruled by their wives, and traders, wishing to
preserve the custom of the clergy, will, with some
honourable exceptions, vote for M. Louis BONAPARTE.
Those very Legitimatists who, the day after the revo-
lution of February, pretended such enthusiasm for
the Republic, now enter into a plot for the
avowed purpose (a purpose which they seek not to
dissemble) of destroying the Republic. They will
drive their herds of peasants, the pagani, the ignorant
Pagans of the 19th century, to the poll, but the day
will come when these very peasants will turn against
them, and then they will deplore the ruin of that faith
which they were themselves the first to betray and to
dishonour."

Among the honourable exceptions alluded to by
the Semeur we are glad to be enabled to class M.
BERRYER, who, if he does not support General CA-
VAIGNAC "with his exclusive Republicanism," is at
least equally opposed to M. BONAPARTE, " with his
palpable incapacity and entire ignorance of his situ-
ation."

insist upon the
necessity the Monarchists of all shades,the
The Gazette de France and the Legitimatists, in-
necessity of excluding General CAVAIGNAC from
pos-
sible ; and the Constitutionnel, we are-sorry tolin
M. T
find, is
i
Presidency, and of utterly destroying him, if
t 8
following the example of the Presse in resortingiiiEits
the weapons of calumny and slander.
should, however, be cautious. His antecedents will
provoke some crushing retorts ; he, of all the living
statesmen of Prance, should avoid provoking a per-
sonal controversy.
M. COQUEREL has addressed the following later to
the editor of Galignanes Messenger :--
" eMe.ssenger has inserted a few lines bor-
rowed from L'Evenement of Monday last, stating that
I have refused to recommend Gcm-ral Cavaignac, as
President of the Republic, to my brethren, the ministers
of the Protestant churches of France. This is in every
respect a mere invention. I have not had to refuse what
has never been asked. Though Icm far from for-
getting the eminent services General Cavaignac has
rendered to his country, writing a circular letter or
charge to my fellow-ministers would be uffectiug a sort
of episcopal influence. We aro Presbyterians, and such
a presumption would be at once in direct opposition with
the principles of our Church and my constant line of
conduct. "I remain, &c.,
" ATHANASE-COQUEREL,
"Pastor of the Reformed Church of Paris;
Member of the National Assembly."