The Sun.
London, England, 1858-09-30 00:00:00

RAILWAYS.

Cash. Account.
Orleans
Northern
New ditto 835
Lyons and Mediterranean BB5
New ditto
Geneva .
Midi

665
605

665 - ..
600 -

Western
Eastern
Grand Central
Sardinian

645 .. 642 50
745 - 747 50

463 75
670 -

•• • 671 25 ..
Exchange on London, at sight, paper, 25f. 20c. ; money,
25f. 15c. ; three months, paper, 25f. 21c. ; money, 2.51.

Austrian.

ITALY.

A correspondent writes from Nice, 27th :—"You
will, I am persuaded, have placed no great depen-
dency on the explanations offered by the journals
of Turin in reply to the very absurd statements ad-
vanced by certain London newspapers in reference
to the presence of the Russians in Villafranca. If
a portion of the London press has exaggerated the
importance of that event, the Turin journals have in
their turn committed an equally serious blunder in
endeavouring to divest it of all signification. Villa-
franca is not destin cd to become the 'Sebastopol of the
Mediterranean,' for the good reason that Sardinia
has not the intention of transforming herself into the
Crimea of that sea ; but it is equally false to pretend
that the privileges accorded to the Odessa company are
simply limited to the gratuitous cession of a tumble-
down bagne. The aim of the Odessa company is
too well known here to permit the latter supposi-
tion to be seriously entertained. This company has
the firm intention of obtaining a direct market in
Germany and the north of Europe for the pro-
duce of Southern Russia and of the East. The
port of Villafranca is the only spot which by
its position could render that project feasible.
Villafranca is at no very considerable distance in
a direct line from Coni or Cuneo, and this town
—the last station of the Turin Railway—is in
communication by rail (excepting the Mount Cenis
section) with all continental Europe. A railroad
constructed from Villafranca to Coni would conse-
quently place the Russian commercial depot in
direct communication with Central. and Northern
Europe. Villafranca would then become the deadly
rival of Trieste, and perhaps of Marseilles, though
such an idea would be scouted at the present
moment in France. After this preliminary expla-
nation, let me state that one of the conditions made
by the Russian company in the convention, which
still remains unpublished, is the concession of the
said line. The Sardinian Government would have long
since carried its railway communications to the coast,
had its limited pecuniary resources permitted the
outlay ; it is too alive to the advantages which
would accrue to the country by an active transit
and by the presence of foreign capital, to dream of
refusing to facilitate the operations of a company
which promises prosperity to Sardinia, and per-
dition to Austrian interests. The interview held
here between General de Lamarmora and General
Bagaawood, the representative of the Russian com-
pany, was connected with this line, and the
Minister of War, instead of returning to Spezzia, as
he had at first intended, left Nice for Turin by the
Col di Tenda, along which the projected railroad
will have to proceed. The views of the Odessa
company will render necessary the possession of
important docks (which will have to be constructed),
and of all the available port accommodation. It
is, therefore, puerile to question the cession of the
wet-dock of the port ; it would be wiser to calculate
the expenditure which will have to be incurred
before that basin can be adapted to the purposes of
the company. The adhesion given by the Paris
press to the Russian scheme is naturally explained
by the belief entertained at Marseilles that the
transit of Russian merchandise intended for
the North will be exclusively enjoyed by
France. But when it shall become painfully
apparent that the commercial interests of Marseilles
and the prospects of the Messageries Imperiales '
are seriously endangered by a rival favoured in
every manner by the Sardinian customs, and enjoy-
ing more rapid communication with Central Ger-
many via Switzerland, and with the north, a very
different tone will proceed from that press. We
shall then, perhaps, learn that the delicious joke of
ruining Trieste and weakening Austria may be
purchased at too costly a price. I have purposely
avoided entering into the political features of the
Sardinia line long been playing t bold game,