The Sun.
London, England, 1851-03-18 00:00:00

RISE IN RAILWAY SHARES.

We receive urgent letters calling upon us to put forth
some words of warning regarding the existing speculation in
the railway-market. In the present state of affairs, however,
it is not our business to do co. It is true that since the Ist
of January shares have risen on an average upwards of 40
per cent., while other descriptions of security have rather de-
clined, and that upon the lines of worst repute, such as the
Caledonian, East Anglian, &c., the increase has been equal
to 70 or 80 per cent. It is likewise to be admitted that
eothing has transpired to account for this extraordieary
movement, except the promises held out in connexion with
ti e Exposition, and that it is not easy to see how the wildest
calculations in that respect, especially when it is borne in
mind that the temporary half-year's inflation will be
followed by dulness and reaction, can be considered
to offer an explanation. But these points solely concern the
parties who are now speculating. The same means of form-
ing an opinion are open to all, and each person has a right
to indulge his hopes, and to act upon them to any extent he
may deem proper. We can neither prove nor disprove any-
thing in the matter, and even if the case were otherwise,
we do not know that we are entitled to assume the prospects
of the Exposition to be the only or the chief ground of
the new rush to these investments
public entertain anticipations of reformed management, o-
It may be thatt the
nomical discoveries, and increasing commerce,
except that whatever may
their minds to warrant all that has taken place. There ?a
consequently nothing to be said,aith
which has sprung up,
stated or made apparent.
be the causes of the renewed
generally
they have not yet been
rattention should be called
month or two the operations
to the fact that for the
n all in one direction, and that ac,eord.,
At the same time, hopwasevte ,
of the public have bee
CeS a e a
experience prices under such circumstan t k
ing to .
weighing these circumstances, individuals
course wholly irrespective of any 9uestions as to intrinsic
they can see the future more than is at present
If, after
value.
d they will of course be quite justified •
in continu-
ingapprec'ate'purchases • and supposing,
their ~
that the whole affair is, as our correspondents infer, merely
still think
a new development of gambling infatuation, they must be
left to take the consequences, i J.
since ~.. is quite certain that no
homilies will restrain them. There is no oan a'
1 ga between
what is going on now and the mania which ended in the
convulsion of 1817. The evil was then a national one, in-
volving the waste of millions upon undertakings which could
never bring an adequate return, and leading to an adverse
state of the exchanges sufficiently plain to be demonstrated a
year or two beforehand. In the existing movement there is
nothing of the sort. Supposing it to be entirely a gambling
one, there is still no waste beyond that of the gambler's
time, since what one party loses another gains. There is no
new capital drawn is and sunk, no misdirection of the ener-
gies of the labouring population, and any misfortunes which
may result will be simply those to which all persons are liable
who seek to make their fortunes by play instead of by indus-
try and invention.--TimEs.

THE BRITISH MUSEUM.—Among the additions to
the treasures of the manuscript department of the library
during the past twelvemonth, is a collection of nearly one
hundred ancient manuscripts on vellum, containing theolo-
gical, judicial, metaphysical, and miscellaneous treatises, the
greater part of which termed a portion of the library of the
Benedictine monastery of Mount St. George (Jorgpey of s?:
nberg
near Schwartz, in the Tyrol. Among them is aco
Clement's Recognitions and Epistles of the tenth century,
and a copy of Bede's Ecclesiastical History of the same age-
Also a I'salter of the tenth century, formerly belonging to
the monastry of Stavelot, in the diocese of Liege; and a
remarkably line Greek manuscript, containing the works as-
cribed to Dionysius, the Areopagite, and the Homilies of
Gregory of Nazianzium, with Scholia, written in 972.
'fan LOUVRE.—Very extensive alterations are at
present being effected in the picture-galleries of the Louvre.
One of the most important improvements is that by which.
the Long Gallery is lighted from above—a measure which,
has been long called for, and
by which the ECG pigswill
which it contains will gain Gonsiderably.;