The Sun.
London, England, 1846-03-28 00:00:00

has not been by any means settled by that verdict. Our
non-professional readers should be informed, that where
a point of much importance—particularly if it be a bad
one, and that the decision of the full court thereon is
desirable—is raised before a judge at nisi prius, it is
usual for him, even though his opinion should be with
the defendant, to rule it in favour of the plaintiff,
reserving to the defendant liberty to move for
judgment as in case of a nonsuit. And it is
just and reasonable that it should be so, because
if the defendant be right he can sustain no damage by
such a course having-been adopted. No judgment has
ever been marked against him. The questions raised
are calmly discussed before the full court ; the argu-
ments are prepared with full opportunity for the counsel
on each side to examine every authority at all bearing
on the point at issue, which it is often (indeed almost
always) impossible for them to do on circuit, not having
books torefer to, even if sufficient time were allowed for
the purpose ; the decision is arrived at with that delibe-
ration which should ever characterise legal pro-
ceedings ; and it is that of all the judges
of the court, and not of a single one, and
therefore generally is conclusive on the question.
On the other hand, great hardship would be inflicted on
the plaintiff if a point was wrongfully decided against
him on the trial. Even, if successful in setting aside the
nonsuit, he should under any circumstances again go to
trial, all the expenses of such a new hearing would be
rendered necessary, and he would be subject to the con •

tingency of his witnesses being absent, and if he finally
succeeded in getting his judgment it would be at a later
period, and perhaps rendered less valuable, if not totally
inoperative, by reason of new incumbrances affect-
ing the defendant, incurred subsequently to the
time when he would have been entitled to recover
if a proper conclusion had been arrived at in the first
instance. Such was the course in the present instance :
the Learned Baron heard the various objections urged
by the defendant's counsel, and without offering an
opinion on them himself, he reserved them for the
decision of all the judges ; there has, therefore, as yet,
been no valid decision on the question ; it has been
placed in train for solemn argument, and we sincerely
trust that such a result will be arrived at as to settle
speedily this very important question. We cannot
agree in the truth- of the proposition, now advo-
cated by many of our Contemporaries, that parties
applying for shares should bear their propor-
tion of the expenses of an abandoned project.
It might be just, if the parties, on putting down their
names, or writing their letters of application, thereby
insured to themselves the possession of a certain number
of shares in the undertaking ; but their case is very dif-
ferent from that of the provisional committeemen. In
one instance, the party, before putting down his name, is
admitted behind the scenes; he has the fullest opportu-
nity of examining the ground on which the undertaking
is commenced, with its prospects of success, and he owes
it, not only to himself, but to the public, many
of whom may be influenced by the additional
sanction the authority of his name and influence may
confer on the project to join therein. He has also
the certainty of being connected with it, and having a
large allotment of shares in the undertaking, which may
be a source of considerable profit to himself. Such, how-
ever, was not the case with the applicant for shares ; he
could have no opportunity of knowing in what state the
project was, or whether competent persons were engaged
in taking all the preliminary steps; he made his appli-
cation solely on seeing the names of the parties
who came forward as managers. If they were men
of property, of respectability, and of character, he had
fair grounds for supposing that the undertaking was
good in itself, and that it would be carried on with vi-
gour and with every reasonable prospect of success. He
had no certainty of having any number of shares what-
ever allotted to him ; on the contrary, if the undertaking
was a prosperous one, if the scrip came out at a premium,
no matter what might be his respectability and sol-
vency, unless he had some interest with the alloting
committee, he had very little chance of receiving
any answer whatever to his application. It is a
well-known fact, that it required considerable canvassing
to get any allotment of shares, even the tenth part of
those applied for in the early part of last year, when
every project good or bad was coming out at a premium ;
that the general rule was that a small number of shares
was allotted to persons who might be useful in bringing
the scheme favourably before the public, and that the
great majority of the shares were kept, and from time
to time sparingly distributed to members of the com-
mittee or their personal friends, and in too many in-
stances the deposits actually paid were employed
in purchasing up the shares issued to members of the com-
mittee themselves ; but if, on the other hand, it appeared
likely to end disastrously, then, indeed, all the shares
were allotted to the persons who would not otherwise
have heard of them. We have ourselves known an in-
stance (and we believe it not to be a solitary one)
where a gentleman had applied for shares, and no
answer was given to his application, although the shares
were allotted, and in the market realising a high premium.
After a time the project shared the fate of many others,
the panic arose, and what had been selling at
two or three pounds premium got below par,
and could not be disposed of save at a
heavy loss, and then a letter of allotment
was sent, giving the full number of shares demanded,
and calling on him to pay the deposit within a few days,
—an application, varich of course failed to be complied
with, Would it not be monstrous if that gentleman
could now be called on to bear any part of the expensei
of that undertaking, which (it is almost unnecessary to
say) was shortly afterwards dropped? when, from the
course of proceeding, it is quite manifest that he would
have had no share if the project had been successful—in
other words, he (and it may be so predicated of appli-
cants in general) was to have a partnership in the losses
to be incurred, if such there should be, but none what-
ever in the profits, if any. We therefore agree in
the justice of the rule, that where persons set a scheme
on foot, and assume to be the managers of it, all the
expenses incurred before the scheme is in actual oper-
ation must be sustained by them, if that scheme should
afterwards be abandoned.
The question is one of very general interest, and we
think we are only discharging our duty in putting the
public on their guard, that they may not be induced,
through misapprehension of the real state of facts, to
lend too ready a credence to the statements made to
them from interested quarters ; and to satisfy demands,
the very urgency of which may fairly raise the presump-
tion that the demandants know the weak foundation on
which their claims rest, and are anxious to extort from
fear that which they could not hope to obtain from reason
or justice.

We have accounts from Madrid to the 20th instant,
but they add little to the previous intelligence. The
capital remained quiet. On the 20th General MA.zze.-
REDO held a review of the troops in the garrison,
amounting to upwards of 7,000 men under arms, to
make an impression on the inhabitants. The editors of
all the Opposition journals, with the exception of the
Tiempo, had announced their intention to suspend pub-
lication so long as the present state of things lasted.
The Espectador, published on the 20th, consisted of only
a half sheet, printed on one side, and the whole of the
contents were the manifesto of the Government, and the
decrees against the press, headed by the following two
articles of the Constitution in large type

" Art. 2d. Ali Spaniards are at liberty to publish
their ideas without previous censorship, and subject only
to the laws.

" Art. 12th. The power of making laws resides in the
Cortes, with the concurrence of the Monarch." •

Several Carlists had been appointed to important
offices, and a considerable number of Deputies had left
Madrid for the provinces. The funds continued to rise.
On the 20th the Three per Cents. closed at 32 3-16. for
cash, and 32i at 30 days; and the five per Cents. at 22
for cash; the shares of the Bank of San Fernando at
255; and those of Isabel at 136.

The Paris papers are chiefly occupied with the affairs
of Spain. The Journal des Debats contains an article
vindicating the French Government against the charge
in the Constitutionnel, that it abetted this new coup d'etat
Of NARYAEZ. It thus concludes:—" What we know,
and what the Constitutionnel knows as well as us,
is, that our Government will always support in Spain,
by its counsels, the cause which it defends in France,
that of moderation and temperate liberty." According
to the Courtier Francais, several of the Moderado
leaders had precipitately left Madrid and taken refuge
in Bayonne.
On Wednesday evening the Dukes of NEMOURS and
MONTPENSIER left Paris for Tours, to be present at the
opening of the Orleans and Tours Railway.
The Universal German Gazette contains the following
from. Cracow, March 18 :

-
"Five companies of Austrian troops set out to-day for Si-
lesia. Letters from Gallicia still speak of commotions among
the peasantry, which are renewed without ceasing, but which
are attended with little danger. The circle of Saodaz is in
particular exceedingly agitated. Several of the National
Guards of Cracow have passed over to the insurgents.
Count de Potulicki, who was made prisoner, has returned to
his estate at Bobrek, on the Cracow territory. Arrests are
multiplied beyond measure, for all kinds of denunciations are
listened to."

Paris was visited on Wednesday afternoon by a vio
lent thunder-storm, accompanied with a heavy fall of
hail, which was followed by torrents of rain.
The Elltmla were lese Area on Thursday, The Three per