The Sun.
London, England, 1851-09-24 00:00:00

LONDON,

King of SARDINIA, and paying their servile homage
to the present Emperor of AUSTRIA.

It is difficult to understand by what conceivable
process of reasoning the professional alarmists—the
agents or dupes of the Bears—have contrived to ex-
cite apprehensions in the public mind, and to depre-
ciate the value of all descriptions of property. We
have seldom had so many auspicious auguries as to
the future condition of the country. The harvest is
abundant, and there is thus a certainty of ample food
for the people, at reasonable prices, during the en-
suing year, while the quantity and quality of the
produce should more than compensate to the farmers
for its exceeding cheapness. The great cause of ex-
citement in the money market and of monetary con-
vulsions is thus removed for a considerable period.
If there were no such countries as California or
Australia, we might look for a steely flow of bullion
to the vaults of the Bank ; but, with the sources from
whence the precious metals may be obtained now
fully available, we may confidently anticipate a large
increase;greater than anything that has been heretofore
witnessed in this country. We also hear of considerable
demand for our manufactures affording full employ-
ment throughout the entire country to the working
population. Neither is there any prospect of " a
drain" of bullion, more especially since the Austrian
loan—as we trust all other foreign loans will be—
was unequivocally and decisively eschewed in the
City. The Bank returns, too, offer equally propitious
aspects. There have been considerable additions to
the public and private deposits; and while the
"notes unemployed" have been increased by
nearly half a million of pounds sterling, the
stock of bullion and the " other securities"
have been augmented by more than a quarter
of a million respectively. These are cheering pros-
pects for the country, and yet we find that quotations
not merely of railway shares, but of almost every
other description of property, have been forced down
in the presence of every indication that should lead to
the very opposite results. The only possible expla-
nation of these strange and almost unaccountable pro-
ceedings is the general inactivity at this period of the
year. Men of almost every class, who have money at
their disposal, are engaged in taking their pleasure.
This is indeed the holiday season ; business is
for the time being, cast aside, and there is a species
of stagnation in the share market. Not from any
distrust in the state of affairs, but simply because
the legitimate dealers have for the present
eschewed all transactions and are taking their ease
in their respective inns, not only throughout the
United Kingdom, but in all parts of the Continent
of easy access. The Bears, wise in their generation,
take advantage of these circumstances. The ball is,
or rather was—for the tide has already turned—in
their hands, and they brought down prices
to the very lowest rate. London and North-
Westerns, Great Westerns, South-Westerns,
in fact, shares in every company, from the heaviest
dividend paying lines to the very humblest, were alike
peppered. The ursine fraternity know not where to
stop when they have once excited a panic among
unreasoning and unthinking men, who sacrifice their
property without being able to assign any possible
reason for their fatuity except that " there appeared
to be a falling market." Not knowing or not caring
that such a result has been produced by the
machinations of their inveterate opponents, they
offer themselves up willing victims, so that
the "sharpers," might feel some degree of shame at
taking advantage of such unsuspecting innocence)
when there was no credit to be derived from taking
in unsophisticated spooneys.

We would, then, once more emphatically urge
upon benti file investers the propriety of not parting
with their property at present prices, and also of not
affording any facilities to their inveterate opponents.
Let them look to the traffic receipts of the companies
in which they are interested, and they will find that
there is every prospect of fair prosperity for the
future. There is no longer a blind and unreasoning
confidence in boards of management, inducing share-
holders to plunge into the wildest speculations. The
evil is now altogether on the other side. It is an
excess of caution—an undue distrust, that paralyses
the action of the directors, and prevents them from
making really beneficial, arrangements. Everything
tends to show that railways have reached their
lowest point, and that henceforward there will
be a gradual but steady improvement. The dis-
covery of gold in Australia, as well as the
continued influx from California, will tend
to improve the value of railway shares and other pro-
perty of a fluctuating character even more than that of
a steady amount like the funds. We believe that
there is no longer any doubt as to the internal
prosperity of the country fur such a time
as our infamous monetary code will permit it to re-
main in such a happy condition. Even the most
rampant Protectionists are compelled to admit that all
but the agriculturists are enjoying almost unparalleled
good fortune, and this in a perfectly legitimate
manner, not the effect of any temporary excitement
that might produce a fearful reaction, but of a steady
demand for our produce, and, as a natural consequence,
for labour of every description—" a fair day's wages
being freely tendered for a fair day's work."
Let persons possessed of any description of property,
more especially i❑ railways, ponder on these things,
which are matters of public notoriety, and determine
not to dispose of it except under unsupportable pres-
sure, but patiently and steadily to await " the
good time" which is most unquestionably "coming."

Elsewhere in our impression of this evening will
be found an announcement respecting KOSSIITH.B de-
parture from Constantinople, from which it must be
evident that before many days have elapsed we shall
hear of that illustrious exile's arrival at Southampton.
A grand banquet will, of course, be thereupon
forthwith given to the glorious leader of the Hunga-
rians, in order that to himself personally we may
express our earnest admiration, affording him at the
same time an assurance that the people of England
still sympathise profoundly in his aspirations for the
independence of his gallant Hungarians.

We understand that the directors of the Electric
Telegraph Company have received the report of their
engineer, to the effect that the re-insulation of their
lines upon the new principle, patented by Mr. Edwin
Clark, is completed, and that they have determined
forthwith to make a considerable reduction in their
charges for the transmission of the messages of the
public, and at the same time to simplify their tariff,
by making it as far as possible uniform.
DEURY-LANE.—To-morrow evening Mr. M'Col-
lum, the first of American equestrians, will take his
benefit on the boards of old Drury, an occasion when we
doubt not his very great abilities will be rewarded by a
bumper. It will be seen from his announcement of the per-
formances that he has secured the services of such remark-
able performers as Madlle. Caroline and Mr. Eaton Stone.

ROYAL SURREY ZOOLOGICAL GARDENS.--The
proprietor of these gardens has, with much judgment, ar-
ranged the amusements so as to terminate shortly after nine
o'clock. We recommend all our country and foreign visitors
not to miss the opportunity of inspecting this place, satisfied
that no exhibition in London will more amply repay them.

The final decision of the Committee with reference
to Dr. M. Thomson's coloured signal lights for the use of her
Majesty's Navy has been laid before the Lords of the Admi-
ralty for their approval, and their Lordships, in accordance
with this desire of the Committee, have ordered a dozen of
lanterns to be made for the use of the Lisbon and Mediter-
ranean fleets. We shall now have an easy and simple method
of signalizing at night to any extent we please, at a distance
quite equal to the old system of angles, which could only
yield nineteen signals, and these, too, at certain positions by
particular ships, in a fleet not to be made out; but by this
new method the lanterns, being hoisted as flags, are readily
perceived by all ships, at a range of 31,4 miles nautical.

THE GREAT CABLE TELEGRAPH. Contrary to
expectation the coil of the submarine cable was not depo-
sited on board the Blazer by tide-time yesterday morning, as
the workmen, tired of the toil, did not continue their hauling
labours during the night. To-night, however, they will do
so, a relay having been provided. At a late hour last night
nearly 20 miles of the cable were on board, and the remain-
der will be there this morning, when the vessel will start for
Dover.

THE PREMIER IN WALES.—Lord and Lady John
Russell and family arrived at the Victoria Hotel, Llanberis,
on Wednesday last, from Carnarvon, ascended Snowdon on
Thursday, and on Friday viewed the slate quarry, the pro-
perty of Mr. T. A. Smith, which now employs 2,10 men.
On Saturday they were boating on the lake, and on Sunday
attended Divine service. On Monday Lord John left riti the
Pass of Llanleris, and the romantic scenery of Gwynant Yale,
for Beddgelert.
AMERICAN GOODS FOR THE EXHIBITION..--The
vessel Canada, arrived from Boston and Halifax, has brought
from the former place three packages of goods, declared to be
intended for the Great Exhibition of the Works of Industry
of all Nations, in Hyde-park, and they have been forwarded
to the building for that purpose.
We read in the Avinement—M. Proudhon, at his
own request, has quitted the Conciergerie for St. Pelagie.
Just as he had packed up his books and papers, two police
agents came to inquire how he would like to remove?
"Ah ! you are coming with me ?" asked M. Proudhon.
They replied in
.the affirmative. "Well, then," said M.
Proudhon, "we vi!ll walk ;" and the honourable Socialist
went though Pans between the two agents.