The Sun.
London, England, 1856-12-05 00:00:00

moats to " the Orenburg corps d'armcc," and the
power of bringing it " by the rivers Oxus and
Jaxartes to the frontiers of India." It also speaks
of the activity prevailing on the Caspian Sea, and
in the army of the Caucasus. All these matters
are clearly intended to render the SCHAR more
obstinate, and induce him to resist the just re-
rmisitions of the British Government. should he
uiCortunately be persuaded to incur the danger, Le
will himself be the chief sufferer. Whatever may be
the result it will most injuriously affect the per-
manence of his dynasty and the welfare and pros-
perity of his people. Should he ever succeed by
Muscovite assistance he might find it more diffi-
cult to deal with pretended and grasping friends
than of avowed and magnanimous opponents.
The doubts respecting the alleged capture of
Herat still continue. The Presse d'Orient contains
accounts from Teheran that seem to negative the
prevailing rumours as to its downfall. It would
appear that the rumour originated in the
treacherous admission of a small party of
Persian soldiers into the fortress, who were
driven forth with great slaughter. The besiegers,
it is said, anticipate speedy success. We trust,
however, that the demonstration by the British
Government, and the pecuniary assistance sup-
plied to DOST MOHAMED may prevent the realisa-
tion of these hopes, and that the gate of India
may not pass into the hands of a Persian, which
i 3 virtually the same as a Muscovite master.

Is the present Metropolitan Board a bad life—
that the assurance offices can't help it, and the
Chancellor of the Exchequer is so afflicted with
dolorous contingencies in relation to it ? The
poor Board—that has hardly learned to talk with
discretion, much less to earn its title to be desig-
nated the Board of Works. It really looks very
hard to treat the youngster after this fashion !
Such may be ,;he comment of a superficial
reader of the report of yesterday's proceedings at
the interview of the deputation of the Board with
the Chancellor of the Exchequer. It is not, how-
ever, precisely the comment which the proceed-
ings call for. A more careful perusal will show
the Board want a large sum of money to carry
out certain needful improvementh, including the
drainage ; and, having serious doubts whether
they eau get it at a reasonable rate of interest from
the assurance offices, if at at, have applied to
Government to render them assistance by improv-
ing their borrowing powers (now practically limited
to these offices) by advancing the sum required,
taking for security the rates on the metropolis.
Under these circumstances, the Board and the
Chancellor of the Exchequer stood forth much in
the relation of borrower and agent of the pro-
bable lender—than accounting for the general
characteristics of the interview. The borrower
had to make out as good a case as he could, and
the party applied to to sift it, and satisfy himself
as to the nature of the security.

The proposition of the Board, stated in brief,
is—Enable us to borrow or advance us four mil-
lions, to carry out the main drainage—to supply
the population with parks, and in part to improve
the thoroughfares of the metropolis ; the money
to be repaid., principal and interest, within fifty
years; and we will pledge you, by way of security,
the rateable property in our jurisdiction. That
property we estimate at about eleven and a-half
millions—its value is increasing—and the rate
required to repay the loan, principal and interest,
in half a century---las it appears to us—
will not exceed threepence halfpenny in the
pound. The Chancellor of the Exchequer, in
reply, after some remarks on the rate of interest
usually demanded by Government, inquires a
little into details. What is required for the
main drainage ? Answer—About three millions ?
How much for parks and other metropolitan im-
provements? Answer-Half a million for parks,
leaving half a million for metropolitan improve.
ments, exclusive of 600,0001., or rather 500,0001.,
for the new street in Southwark, to be raised by
loan, subject to ground rents. " You reckon
you would raise 200,0001. per annum on the
sinking fund and interest ?'' Answer—lf the
4,000,000/. is borrowed at 3/ per cent., we
should have to furnish 162,1981. as (diminishing)
interest. May there not be some dispute as to
the validity of the tax, or the mode of levying it,
which might invalidate the security ? Suppose
there is a new Board in ten years, and the people
are dissatisfied with the result of the drainage,
and both parties object to pay the interest—what
would be the position of the Government—would
it not have to tax the town ? Answer—No diffi-
culty whatever ; the rate could be enforced by
mandamus. The Chancellor of the Exchequer
puts the case still more strongly, and meets with
additional assurance. To make, however, assur-
ance still more sure, he inquires—What would be
your total demand upon the ratepayers ? You
think that with the interest on the four millions,
and sinking fund, 6d. in the pound would be all
you would have to levy for all purposes what-
ever. Mr. THWAITES—That is a hard question
ito answer. That would depend upon the im-
provements that are carried out.
We should think it would. The Board, it seems
to us, is hardly aware of what improvements are
required, and makes too niggardly a demand. As
to the security—of the goodness of that there
can be no doubt, provided the money be judi-
ciously expended—indeed in any case. The large-
ness of the amount sought for, and still more
required, makes it, as Sir G. C. LEWIS seems to
think, all the more desirable we had a Board in
which more reliance could be placed. The people
of London are too public-spirited to grudge- what
is necessary for the real improvement of the
metropolis if the rates are duly supplemented by
Government aid ; but they have a right to look
for the most judicious administration of the
money they will be called upon to pay.
It is because wo would have the calcu-
lations of the Board thoroughly sifted we
have given a resume of the principal points
eliminated at the interview. The Chancellor of
the Exchequer has promised to give the proposi-
tions of the Board his most careful attention, and,
en the part of himself and colleagues, to see what
can be done in the matter on the meeting of Par-
liament. Let a thorough calculation be made,
and care be taken to borrow enough when the
Board is about it. One of our reasons for be-
lieving the sum sough for is not enough is, we
see no allowance made for the freeing of
the Metropolitan Bridges of tolls, and the
construction of a bridge at or about Charing-
cross—both measures demanded on every ground
of public utility, and necessary to rescue the
metropolis from a great and long-standing re-
proach. Three millions for the drainage and half
a million for the Parks—leave but half a mil-
lion out of the four millions for improve-
ments, to say nothing of the 500,0001.
debts and liabilities, bequeathed by the late
Commissioners of Sewers, and the 500,000/.,
out of the 600,0001. required for the new street
in Southwark, which must be met. The Board,
we feel confident, will have to ask for more, if
and every one acquainted with municipal matters
they persist in demanding only four millions now;
will agree with us in thinking it were best to
borrow what is really likely to be wanted at once.

So great a quantity of snow fell lately at Arlon
(Netherlands) and in the Ardennes that the roads wcre
rendered almost impassable. The Liege mail arrived at
) Vt i, hours behind time.