The Sun.
London, England, 1856-11-15 00:00:00

THE SUN, LONDON, SATURDAY `VEINING, NOVEMBER 15, 1856.

termined to maintain a position of perfect equa- mended. The motive we have urged ought surely
lity. That she clearly knew, and would firmly to bo enough.
assert her rights ; and that the duplicity and Hardly had the effects of the successive shocks
special pleading of Russia could have no effect but given to public confidence by the disclosure of the
to excite the indignation of the English people, great banking frauds passed away before we had
and prevent them from being tempted to wander to announce the detection of Etc:limos in his melo-
into the labyrinth of Russian Railways. We term dramatic career of infamy, and now, in addition
it " labyrintlb" advisedly, for most assuredly it to what is inferred by the suicide of the cashier of
will be impossible for any one who ventures in to
find his way out with out ',submitting to a severe
plucking in the first instance.
That the Moniteur, and those from whom it
derived its inspiration, received a salutary cau-
tion, is more than probable. Notwithstanding the
burst of honest indignation which proceeded -from
the English Press, with some few (we shall not
terra them " base " exceptions), there was no re-
turn to the charge, as there unquestionably would
have been if the topic had emanated from, or re-
ceived the previous approval of, the EMPEROR.
There was an instant retreat on the failure of the
first onslaught. The silence might possibly have
been regarded as ominous had it not been for the
summary castigation inflicted on the unfortunate
ConstitutionTal, which, in the erroneous supposi-
tion that it was " rendering the State some ser-
vice," not only followed in the same direction, but
trespassed far beyond the limits, specified by its
leader. The terms, too, were significant. There
Was no attempt to ignore the fact that differences
had existed between the Cabinets of St. James's
and the Tuileries ; but they were (assez foible) of
trivial importance—nothing that could possibly
disturb the cordial alliance happily existing be-
tween the Governments and Peoples of both
countries.

the Midland Great Western Railway of Ireland,
we have to record the apprehension and examina-
tion of a swindler supposed to have been to some
extent in league with ROBSON, but compared with
whom ROBSON was a very tyro in his art. The
public mind is for the moment paralysed, and
those who have invested their money, or are de-
sirous to invest it, in joint-stock undertakings,
know not what to think or what to do. The
ground seems to tremble beneath their feet, and
every one is anxious to see what the morrow
will bring forth. Nothing appears so in-
secure as that which is lent on the most
approved securities nothing to need so
much caring for as that which is fenced round
by the most legitimate safeguards. Do the mana-
gers of public companies affect religion Who so
pious as Sir JOHN DEAN PAUL, foremost in good
works, even to the building of a church ? Are
they weighty in the Senate and possessed of the
ear of Government ? Who weightier than SID-
LEIR and others ? The profession of religion is
nothing ; position is the State of no account.
The professor turns out a double-dyed knave, the
M.P. a self-condemned villain. Worse still, let
the directors of a company be men of unimpeached
and unimpeachable personal integrity, the share-
holder still cannot feel himself safe. As though
a judicial blindness had come over the race of
directors, instead of their being safeguards of the
interests of the shareholders, two instances have
come to light where, by an astounding laxity of
oversight, they have proved themselves a screen
for the depredations of their subordinates. In the
wide field of plunder nowhere could be reaped so
rich a harvest, or any harvest at all, with so little
pains as under their wings. So infatuated have
the directors in these instances shown themselves
that warning on warning has been literally thrown
away upon them. The shallowest knaves in the
world have been too many for them, and all but
to the very last could talk them over. Well
may reflections of this sort, warranted by fast
succeeding facts, have the benumbing effect we
have described, and render all available measures
to restore confidence imperative. It is not enough
to say matters are exaggerated, mad the worst is
past. The public would not be justified in be-
lieving it were it true, as we hope it is—the most
thorough proof must be forthcoming where.it is
not already, or directors will have themselves to
thank for the evils consequent on delay.
Of the two cases the last is the worst, both as
regards the directors and the culprit. Their
similarity, however, is remarkable. Both ROBSON
and REDPATII sprang from comparative obscurity
to the occupancy of a position of grave responsi-
bility, and were alike in receipt of inadequate
remuneration. The main difference so far is,
ROBSON had a good previous character, and RED •
PATH a bad one. Both had every possible facility
'or committing fraud set before them. To all in-

It was also stated by the official organ,
that " the only question was whether the matters
were to be settled by a previous understanding,
or by the Conferences." The nature of the dif-
ference, or differences, was thus clearly indicated,
and but little doubt could remain that the point
at issue referred to the rectification of the Bessa-
rabian bohndary, the questions raised by Russia
respecting the Isle of Serpents, Bolgrad, and
others of a similar character. We cannot, how-
ever, regard anything relating to the faithful
execution of a treaty, solemnly and deliberately
entered into, as of trivial consequence. If any
matter, however insignificant, could again be re-
opened, and a ne w discussion raised, the Treaty
would not be worth the parchment on which it
was engrossed, and a renewal of hostilities would
be rendered inevitable. Nor would that be by
any means the most inauspicious part of the trans-
action. The mutual confidence—which is of
vital importance between friends and allies—would
necessarily be greatly impaired, if either were to
lend themselves to the intrigues and fraud of a
third party trying to slip out of its engagements.
Were it a question respecting future pa licy
difficulties might arise, and each Power would
unquestionably have the right to advocate its
own peculiar opinions and to expect consideration
and indulgence therefrom. But when it merely
relates to the interpretation of existing stipula-
tions, when there can be no possible doubt as to
the ordinary and common-sense view of the sub-
ject, or that the only object of the party raising
the dispute is to get rid, on the easiest terms, of

the conditions previously agreed on, then it is a
duty to abide firmly by the agreement already in
operation, and not to suffer it to be disregarded
or frittered away. Any other course would com-
pletely destroy the prestige of the Power that
permitted itself to be bamboozled in so barefaced
a manner.

If the directors of public comptnies consult
their own interests they will forestall the cry
which will otherwise be speedily raised by the
great body of shareholder; and at once, if they
have nut done so already,
set about a thorough
overhauling of their accounts.
Nothing less than
this will suffice to avert the panic which we see
impending, and which wouldinevitably be fol-
lowed by the most disastrous results. At the
present moment the public are stunned by the
rapid succession of disclosures of fraud, committed
with unparalleled facility, and to a perfectly
astounding extent. In theyery nature of things
a reaction will follow of the character we have iadi
cated. We say
(nothing at present of the pre-
ventive and the moral considerations which ought
also to have their wei.,;lit in inducing directors cf
public c3Enpanit,,s to take the step vie have recom-

,cuts and purposes oversight the di rectors had none
Both yielded to temptation, and indulged in the most
reckless extravagance. Etch, however, after his
own fashion. One earned the reputation of being
the fastest man about town—the other of being a
most munificent and wealthy patron of public
charitable institutions. Their style of living was
The traditional policy of Russia not only refers the subject of general admiration. REDPITH'S was
to its aeeressive objeats in acquiring new territory, princely—s-money flowed from
.both likewater. In
but it also indicates the means by which that RoeseN's case the contrast between his visible
policy is to be carried out. Oue, and perhaps the means and expenditure was so great as to excite a
most important of these means, is by dividing vague suspicion in the minds of the Directrm
other nations, which might by union retard its He speedily dissipated it. REDPATH'S ern:o-toyers
objects. It is unnecessary to say that France and not only observed a like contrast, but bi4d it thrust
England are the most important of all. In the on their attention—were positive'4 warned that
notorious communications respecting " the sick something must be wrong. T....c does not appear
man's" assets, the late AUTOCRAT completely that the directors condese,ended to entertain so
ignored the existence of the German nations. He much suspicion as to mijestion him. sc my plays
had previously made " all serene" with Austria and my antimony
w 'the exemplar, practices and orks" suffice d to avert suspi-
and Prussia, and he hoped to bribe England, so cion from one ;
repu-
that he could afford to treat with contumely the table associations of the other saved him from
French Government, which he had not then re- inquiry ..)Itogether. 'One thieved by tens and
cognised, and was disposed to treat with in-
the ot).ter by hureixeds of thousands, yet the latter
difference. That deep laid project was only was 'the last to .be brought to book. Alt in vain
defeated by the firmness of England and the 'vas the startling inquiry, " Why are we paying
•
judicious conduct of the recently-elected Estrenen, in divisl,ands fifteen or twenty thousand pounds
The CZAR believed that a cordial alliance between whic:4 is not due from us?" Mr. REDPATR was
those whom he erroneously supposed to by "he
reditary enemies" was impossible—and front that.
miscalculation the entire scheme fell to
ground, and he suffered severely from the
error. Then he tried to gain England
his designs ; but the utter itepossibilit vs
to make France the object of set-'4„tion.. " too respectable" to be suspected. Wherever he
( moved the halo of good works su.srounded him like
'Ate a shield against the directoral police. In no age
fatal but one of religious cant and social humbug could
saver to your PAULS and REDPATHS have pursued their
i 'of such a career with impunity. Not even RHDPATICS
result being perceptible his success,
`r endeavoured confederacy with ROBSON sufficed to shake the
rascal's reputation for trustworthiness. English-
A partial success attended the unconscientious men are, or have been, in the habit of boasting of
attempt. Those who reFs•e'sented Louis NAPO- their superior business qualifications. How the
LEON, during his hours of relaxation, yielded for Directors of the Great Northern could suffer
a time to the voice of Pee charmer—or, possibly, themselves to be so gulled will be the wonder of
to more substantial inftrks of his favour. It was the world. The ablest financiers, the most close
more than hinted, that Russia had secured an ab- inspectors of their affairs, have been deceived, but
solute majority in any new Congress that might the Directors of this company seem to have taken
be opened, aneA, that her own representatives, sup- no precautions whatever. Most men look for a
'Jse of France, Prussia, and Sardinia, character with their servants. The Directors of
ported by th
could leave those of England, Austria, and Turkey the Great Northern took REDPATII into their
in the mir xrity. Could a new Conference be ob- employ with worse than none ; and instead of
tained, 'all that had been accomplished when the fencing, as they ought, the interests they had in
allieo, fleets were in the Euxiue and the Baltic, charge with every possible security, placed him in
ar:d their troops in the Crimea, would be corn- a position in which a knave might riot, and left
pletely neutralised ; and trivial as were the him there exposed, without oversight, to hourly
concessions to which Russia had submitted temptation. Great must have been their faith in
they would virtually be abrogated, and she would the virtue of three hundred a-year. In common
be enabled to give new proofs of her prowess to honesty they ought to pay for it, for nothing
minor States, so as to insure the restoration of short of infatuation can be urged to palliate their
her waning supremacy. The firmness of neglect. A breath alone was needed, as in the
the English Government has defeated this in- case of the Crystal Palace frauds, to burst the
sidious scheme, and the sound sense of the bubble, but it was not forthcoming until too late.
French EMPEROR has induced him to disregard the It is a bad case indeed, to which the latter is but
minor influences brought into operation. We secondary., In further proof of the propriety of
trust, then, that the alliance may be really per- the advice wita which we started, we have but to
tnanent. It is even more for the interest of point to the flight of the solicitor of the West-
Lotis NAPOLEON than of our own SOVEREIGN that minster Freehold Land Society, the extent of
it should be so. For ourselves, we look even whose defalcations is not yet known. A little
more to the principles of truth and justice than moral ;resolution is all that is wanted to restore
of expediency. We shall faithfully observe our public confidence to officials who deserve it.
obligations to France, and we look for and believe
that there will be similar fidelity on their part.
While it is
so there can be no serious interrup-
tion of the Pelee and tranquillity of Europe.