The Sun.
London, England, 1846-07-03 00:00:00

the other to legalise the transfer of scrip,
and to require, in every instance, a registration of
the purchaser, and his substitution in place of the
vendor. The Committee prefer the fir,t of these
plans, and we think with justice. No one would

then venture to apply for shares unless be could afford
to lie out of the deposit for a considerable time, and
no project would obtain subscribers unless its chances
of succes3, and of yielding a fair return for the capital
to be expended in its construction, bad been fully
investigated and inquired into.
The Committee have come to the conclusion, that

it is absolutely necessary that some department of the
Executive Government so constituted as to command
general respect and confidence should be charged
with the supervision of railways and canals, with full
power to enforce such regulations as may from time
to time appear indispensable for the accommodation
and general interests of the public. The vast im-
portance:of the railways already made, or about to be
carried into execution, the large amount of capital in-
vested therein, and the great extent to which
the public are interested in the management thereof,
loudly demands the creation of such an authority,
which should be armed with sufficient power, and
responsible for its due and proper discharge. To
this board it is proposed that all propositions for any
railway sche►ne should, in the first instance, be sub-
mitted, with a general statement of its objects and
advantages, together with such evidence of the capa-
bility and boi,a fide intentions of the promoters as
might be deemed a sufficient guarantee for them to
sanction further proceedings.
They might then, if they pleased, give an autho-
rity for the survey of the intended line, requiring
security by the deposit of a sum of money, as an in-
demnity for any injury that might be inflicted during
the progress of the survey.
On the completion of the plan and section, the
Board might enter into all the preliminary inquires
rendered necessary as to standing orders, important
in a public point of view, practicability, interference
with private property, and the means which might be
adopted to obviate the objections of the proprietors
of land to be interfered with, &c. &c. The result of
these investigations might then be laid before Par•
lament, so as to save much time to the Legislature
and expense to the parties applying for Bills, without
any undue interference with the paramount
powers of Parliament and its sole adjudica-
tion as to the rights of property. Should
these suggestions be carried into execution, many
valuable improvements will doubtless be effected
in the entire system of railways throughout the
country, and if the proposed Board should be con-
stituted, the Earl of DArmousrE, who has exhibited
such knowledge and judgment in all matters relating
to the railway business of the country, will, we doubt
not, be unanimously pointed out by public opinion as
;s most fitting head.

Letters have been received from Rome which state
that the report of the death of Cardinal MICARA is
unfounded. He is still alive, although suffering
severely from illness. It appears that he was taken
so ill before entering the Conclave that he could not
proceed to the chapel where the ballot took place, but
gave his vote in his cell.

The States-General of Lower Austria met for the
first time on the 231 of June, at Vienna. The following
measures are to be submitted to their consideration :

-Ist. The proper means to be adopted to put an end
to the obligatory service of the peasants. 21. The
establishment of a rural police; and, 3d. The crea-
tion of provincial banks.

Madrid papers of the 26th have arrived. They
contain intelligence from Lisbon of the 22d. The
Miguelite rebels had been defeated and completely
dispersed by the. troops sent against them. It was re-
ported at Madrid that the QUEEN would, in a short
time, visit either Barcelona or the Basque Provinces.
The Prince DE JOIN VILLE, with the squadron
under his command, sailed, on the 23d, from Palma,
the capital of Majorca, for Tunis.
MADRID Boma, JUNE 26.—The Three per Cents.
closed at 33 for cash, and 33i for paper; the Five
per Cents. at 201 for paper; and the Debt without
Interest at GI for cash.

We have received the Paris papers of Wednesday.
English questions continue exclusively to occupy the
attention of the French political writers. The Mi-
nisterial crisis is the general subject of comment, and
it is admitted on all hands that the task undertaken
by Lord Jour; RUSSELL is most difficult.
The Presse, without waiting for the publication of
the articles of the Oregon treaty, concludes that by
consenting to it, England has consented " to make a
sacrifice of interest and national vanity the most
humiliating that had ever been imposed on her inor-
dinate ambition !" The writer endeavours to throw
discredit upon England, and to minister to the
prejudice of the war party in Franceby the following
observations :

"Did not time fail us, we should have only to search the
annals of the diplomacy on the Oregon question to find terms
sufficiently explicit, delivered from the mouths of English
negotiators, to mark the condemnation of the treaty of which
Lord Aberdeen has now taken the initiative. We should
discover that in 1827 Mr. Gallatin made an ofier of the 49th
degree, granting to England the navigation of the Columbia
river. Both Mr. Huskisson and Mr. Addington rejected this
partition, which nevertheless would have given to Great
Britain all the territory she will now gain, and have had
insured to her for ever that community of navigation which
is now conceded her for a limited number of years only.
Thus, the English Ministry of 1846 has not only accepted,
but even demanded, less than that which was refused by the
English Ministry of 1827. But what need have we to go back
into times past to seek fur comparisons? Cannot we find some
equally extraordinary and significative in the course of the
negotiations that have been carried on during the presidency
of Mr. Polk, and in which the two Governments have had for
their champions the same diplomatists as have been in-
trusted with drawing up this treaty of partition? Are not
the terms, in fact, identically similar to those which were
proposed by Mr. Buchanan in October or November last, and
rejected by Mr. Pakenham, to whom they appeared to be so
contrary to good faith and equity (these are his own words)
that he would not even submit them to his Government?
The American Secretary of State had, by order of Mr. Polk,
offered the line of the 49th degree, with common right of
entrance into the Straits of Fuca. Now these are the two
fundamental conditions of the treaty, the conclusion
of which we have hereafter to announce. To these condi-
tions, it is certainly true, there are added, for the benefit of
the Hudson's Bay Company, the temporary navigation of
the Columbia. But is it not evident that this, like the
question of expropriation and indemnity, is only a secondary
accessory interest which Mr. Polk could not oiler, but which
he would have as readily granted six months ago as .he
has to-day, had it been asked for. The English Govern-
ment will, no doubt, endeavour to shelter its diplomacy
under the small fragment of land through the concession of
which it has become the sole and legitimate sovereign of
Vancouver's Island. This however, will be a puerile justifi-
cation, because the acquisition cf that part of the island,
which lies between the 49th degree and the Straits of Fuca,
can have no other result than the giving it as a right of
boundary the navigation of the straits which Mr. Polk had
offered in perpetuity, as a concession, over a territory which
would have remained American. In short, the solution at-
tributed to the Oregon question is nothing more than a com-
plete retrogradation of Great Britain upon a ground in which
there was danger of war in case she should refuse to suffbr
herself to be forced back within the limits imperiously marked
out by the Federal Union. This solution is a first, though i
pacific triumph for America in her rivalry with Great Britain,
a triumph much more precious for the one, and compromis-
ing for the other, than if it had been the fruit of a sanguinary
and disastrous war, because it teaches not only America, but
France, and indeed the whole world, that it requires only to
show a bold countenance and use big words to compel Great
Britain to concede through prudence what would be de-
manded in vain from her justice
The Presse is generally considered to speak the
sentiments of Count Mor,r, and it would appear
that, undismayed by his
signal defeat last year,
the Count is again intriguing against M. GUIZOT, and
that by these attacks upon England he hopes to pro-
cure
the assistance of the republicans and Buona-
partists in driving M. GUIZOT from office, and in
bringing about his favourite
project of an alliance
in opposition to British
between France and Russia,

interests.
On Tuesday the French Chamber of Peers passed
the credits for Algiers. In the course of the dis-
cussion the Count DE MONTALEMBERT, in energetic
language, denounced the conduct of Marshal
BUGEAUD and General rELISSIER, and said that the
late outbreak in Algiers
and the massacre of the
prisoners by ADD-EL-KADER might all be traced to
the atrocities of Dahra.
A feeble apology rather
than a defence was attempted by Generals
LAPLACE, DELARUE, and FABVIER7 but the eloquent
speech of the Count DE MONTALEMBERT produced a
marked effect in the Chamber•
rlatnisce reportednegotiations
atrhdahtliaforhe testablishment of a are pending between
F
re-
gular line of steamers, twice a week, between Algiers
and Cagliari, and from thence to Corsica. There is
already established a regular steam communication,
twice a week, between Corsica and France.
According to the Presse, the electors of the Ist
arrondissement of Paris, who at one time intended
to have elected Marshal BUGEAUD as their Deputy,
have determined in consequence of the light which