The Sun.
London, England, 1848-07-05 00:00:00

PORTUGAL.

By the Peninsular and Oriental steam-ship Tagus,
which arrived at Southampton yesterday, we have
received intelligence from Lisbon to the 29th ult.

The tranquillity of Lisbon had been uninterrupted.
The dismissal of the Spanish Minister from England
had created a great sensation in Lisbon.

THE FRENCH REPUBLIC.

DISSOLUTION OF THE ATELIERS
NATIONAUX.— ABANDONMENT
OF THE RAILWAY PROJECT.
We hare received the Paris papers of yesterday.
The Jloniteur contains the following decree dis-
solving the Ateliers Nationaux, for the appearance of
which we had been prepared by the announcement
made by General CAVAIGNAC to the National As-
sembly during the sitting of the day preceding :
" ICI THE NAME OF THE FRENCH PEOPLE.
" The President of the Council of Ministers charged
with the Executive power, determines—
" Art. 1. The Ateliers Nationaux of the department
of the Seine are suppressed.
" Art. 2. Succour will continua to be given to la-
bourers without work, under the surveillance of the
mayors of the different arrondissements.
" Art. 3. The same measures will be successively ap-
plied to the Ateliers Nationaux of the different places of
the territory of the Republic.
" Art. 4. The Minister of Public Works is charged
with the execution of the present decree. ,
" The President of the Council charged with
the Executive Government,
" E. CAVAIGNAC.
" The Minister of Public Works, Recurt.
" Paris, July 3, 1848."
The following five decrees are to be proposed to
the Assembly by M. GOUDCHAUX, the Finance
Minister :

" 1. loan of 150 millions, concluded between the State
and the Bank of France.
"2. The repayment of the deposits in the savings-
banks in rentes at the price of the present day.
"3. The reimbursement of bons du tresor issued before
the 24th of February on the same terms.
"4. Modifications proposed in the droits d'engistre-
ment of donations and successions.
"5. A loan of five millions of francs to the Builders'
Society."
The announcement of the financial policy of the
new Ministry seems to have given great satisfaction,
with the exception of that portion of it which relates
to the repurchase of the railways by the State. M.
GOUDCHAUX, while announcing that it was not his in-
tention to carry out the project of his predecessors for
the immediate purchase of the railways by the State,
declared that in his opinion the State had an un-
doubted right to expropriate the railways, should the
public necessities call for such a measure. While
on the one hand, the Debats, the Siecle, and the
other organs of the railway interest, express their
dissatisfaction at the admission by the Finance Minis-
ter of the existence of any right on the part of the
State to expropriate the railways under any circum-
stances, the supporters of the late Government attack
M. GOUDCHAUX with much severity for not at once
proceeding to the repurchase of the railways.
On this subject the National says—
" The Government does not contest the principle of
the repurchase of the railways presented by the former
Minister of Finance ; it merely postpones its applica-
tion. We must franly avow that on this point it has
been wanting in decision and firmness ; the course it has
adopted is but a compromise between a principle, the
justice of which it admits, and the feelings of a certain
part of the Assembly, and, as is always the case on such
occasions, it misses its end in both cases. It compromises
the principle by deserting the application of it, and
equally endangers the fate of the companies by allowing
the dread of expropriation to hang suspended over their
heads, and thus paralyses their means of action. In pre-
sence of a future of such uncertainty, how can those com-
panies who stand in need of a loan venture to contract
it? How can they feel authorised in making another
call on their shareholders? And this is not all. The
principal argument brought forward by the companies
against the repurchase, was the respect due to contracts
entered into by the State. If they are to be respected in
favour of companies they should be equally so in fa-
vour of the State. Consequently any company which