The Sun.
London, England, 1851-09-13 00:00:00

LONDON,

credit by lending the sanction of its name. In the
absence of such an arrangement, what security is
there that the subscriptions are not utterly fic-
titious—got up under the direction and surveil-
lance of the police ? We may be told of the
numbers who rush forward to sign the con-
tract, who are seeking to participate in the advantages
tendered for their acceptance. But that is nothing so
very astonishing, nor is it any very conclusive evi-
dence of the soundness of the transaction or solvency
of the borrower.

How many persons could be procured at this
moment, even in this country, to sign any
deed that might be produced to them fairly
engrossed, without taking the trouble of in-
quiring into its contents ? We think that the ex-
perience of 1845-6 will afford a satisfactory answer.
Although many promising projects fell to the ground
for want of " the sinews of war," there was not a
single instance of any one failing for lack of sufficient
signatures to the deed of settlement. The absence of
those signatures was scarcely regarded as a difficulty,
as it was known that they might be obtained at any
moment and to any amount, and for any pur-
pose that might be required. Neither were
these accommodating gentlemen by any means
unreasonable in their demands. Liabilities
were freely undertaken at the ridiculously low
remuneration of 6d., or, at the outside, ls. per
1001., and gentlemen with "unkempt" hair, and re-
joicing in exceedingly seedy garments and marvel-
lously foul linen, might be found in social converse
over the foaming pewter, boasting of the thousands
and tens of thousands of pounds sterling for which
they had become responsible during the preceding
week. It was an easy mode of obtaining a liveli-
hood, and the worthy "stags" set at defiance all
actions and suits in the superior courts, or even the
still more formidable proceedings under " the Wind-
ing-up Act."

" Cantabit vacuns coram latrone viator."

The genuine stag is deterred by no fears of civil suits.
The race was, however, becoming extinct in this
country. They bad been blown upon, and their
mystery had fallen into disrepute. Bubble schemes
were no longer at a premium. No projects were
brought out without a responsible committee,
to whom the allotment was entrusted, and
on which there was generally some member ac•
quainted with the names, residences, profes-
sions, and references of the writers. The ad-
dress, " Whetstone-park, Middlesex," would now
scarcely command the full number of
shares applied for, or the most imposing pretexts
prove available. But there is an invaluable
feature in the new Austrian loan that
would have regenerated the cervinc herd. As
an encouragement to early applications, it was
declared not only that 2 per cent. should be allowed
as a bonus to persons applying before the 16th in-
stant ; but there was also an assurance given that "they
should have the full amount of stock they wrote for."
Cruel BAcrt! inexorable SCHWARTZENBERG ! why,
oh why, did you refrain from making England a
place for receiving subscriptions ? It was too severe
a punishment for our audacious liberalism. Had you
published such a condition in Capel•court, not
merely seven, but even seventy millions, would have
been freely taken, and the market would have been
rigged, so as to produce if not a demand, at least a
considerable nominal dealing in the stock. It would
have been lauded as a first-class investment, while
railways and similar undertakings, that gave employ.
ment to our labourers and improved the traffic in our
country, affording facilities of transit previously un-
known, would have been depreciated to the
very utmost. Political hostilities, the sin
of lending our support and countenance
to the gallant Magyars, and affording shelter
and protection to fugitives from all nations—even to
METTERNICH himself, however, deserved a stringent
punishment, and in truth we are willing to submit to
the penalty on the present occasion with the most
becoming fortitude.

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday.
The Bulletin de Paris states that several influen-
tial members of the Legitimatist party have left Paris
for Germany, for the purpose of having an interview
with the Count DE CHAMBORD.
M. DUPIN, the President of the National Assembly,
intends, it is said, to pass three or four days in Lon-
don, and then return to Paris to preside over the
Permanent Committee.;
The Erenement publishes a long letter, dated Lon-
don, the 10th, from MM. LEDRU-ROLLIN, DELES-
CLUZE, DUPONT, and RIBBTROLLES, as writers in the
Voix du Proscrit, complaining of the arrest of the
conductors of that journal in France, on a pretence
of a connexion with a German plot, and denying
that the Voix du Proscrit has ever had any relations
with the German Committee. They promise to pro-
vide in a few days for the republication of the jour-
nal. M. BRATIMO writes to the Evenement, in the
name of the Central Democratic European Com-
mittee, to say it is not true that any papers emanating
from the Committee have been seized by the police in
Paris, and a M. SAUSENAU, in the name of "the Ger-
man Society of Agitation in London," writes to de-
clare that the society has no connexion with the
Germans who have been arrested.
For the last two days the Prefecture of Police has
been literally besieged by foreigners, wishing to re-
gularise their position and obtain permission to reside
in Paris. In order to afford additional accommoda-
tion, an entrance has been opened from the Quai des
Orfevres, and there, in the garden of the Prefecture,
the parties waiting are afforded seats until their turn
comes. No one is admitted to the garden after two
&clock. The bureaux are open from eight in the
morning until four in the afternoon, and about 6,000
permissions are given each day. "Notwithstanding,"
says the Siecle, "the great number of permissions
given every day, it is not very probable that the
week allowed by the ordinance will suffice, as there
are from 70,000 to 80,000 foreigners in Paris."
The Akhbar of the 2d says :—" Intelligence has
been received at Algiers, which would seem to imply
that the attempts of the pretended Cheriff Bou-
BAGEHA must be speedily brought to a conclusion. It
appears that his Kalifs HADJ-MIhTAPHA has left him,
and delivered himself up to Bin. KASSEM, a friend
and ally of the French, who at once forwarded him
to Blidah. AHMED-BEY, our old adversary at Con-
stantine, who gave himself up to us four years back,
and who has since then been living quietly at Al-
giers with his family, died on Saturday last. His
funeral was attended by the Mussulman magistrates
and a great number of the natives. He was allowed
a pension of 16,000 f. per annum by France, part of
which is continued to his family, consisting of five
daughters. He had no son."
The following are the chief items of the weekly
Bank account :

Francs.
Specie in Paris .., 487,891,559
Ditto branches 132,207,665
Paris portfolio ... 34,866,325
Ditto branches ••• ..• ... 61,257,464
Bank-notes in circulation ... 404,546,100
Ditto branches ... 114,272,325
Credit to Treasury „, ... 126,417,256
Private credits, Paris... 97,318,164
Ditto branches „, 29,308,862
Specie has increased by more than 21 millions, but
is less for the country by 1: million. The portfolio
is half a million lower for Paris, and 3i millions lower
for the country. The note circulation is contracted
by 41 millions, and 3- less in the provinces. The
credit to Treasury has increased a million. Private
credit accounts increased 5 millions for Paris, but
in the branches are less by 33- millions.
The Bourse continued to decline, without any rea-
sonable cause being assigned. The Five per Cents.
opened at 911. 90e., fell to 91f. 40c., and closed at 91f.
65e. ; the Three per Cents. closed at 55f. 60c.; Or-
leans Railroad Shares, 8688 75c. ; Rouen, 590 f.; Havre,
2331. 75c. ; Great Northern, 4571. 50c.; Avignon,
2031. 75c.; Vierzon, 427 f. 50c.; Bordeaux, 385 f.; ,Paris
and Strasburg, 355 f.; Tours and Nantes, 2651.
BUSINESS DoNE IN FOREIGN RAIL WA Yb aT THE
LONDON STOCK EXCHANGE, SEPT. 12.
Boulogne and Amiens, 101.4 Dutch Rhenish,
Namur and Liege, 61A —Northern of France, 1414—Sambre
and Meuse, 2%—Tours and Nantes, 64.

SPAIN.
Madrid journals of the 7th have arrived.
The Epoca states that the Cortes will meet on the
st of November.
The Bolsa was closed.