The Sun.
London, England, 1861-02-20 00:00:00

THE BED SEA IBLEGRAPB.

In a discussion on the Red Sea Telegraph ques-
tion on the 9th inst. Mr. Gladstone stated that the
dividend to the shareholders was not yet due, and
that he hoped the necessary bill would pass through
Parliament in time to prevent any default. The

statement was erroneous and the hope unfounded.
The dividend was then eight days overdue, and
although a short period has hitherto been allowed for
sending out the warrants, that period in the present
case expired on Friday last. The British Govern-
ment, therefore, are now withholding from a large
number of families the payment of sums to which
it is admitted the moral title of the claimants is
as incontestab:e as ►hat enjoyed by the holders of
Consuls. Such technical irregularity as exists is
solely to the charged to tire carelessness of Govern-
ment functionaries; and at various intervals in
both Houses of Parliament it has been proclaimed
by members, not only of the existing but of the late
Cabinet, that the public might make investments in
this security with perfect reliance as to the nature
of the guarantee. It is believed that no similar
lapse ever before occurred with a public security in
this country, and perhaps the unpleasantness would
not now have been witnessed but for the circum-
stance of a peculiar system of subtle refinement
having crept into our financial dealings, The
amount involved in the temporary breach of
faith was £lB,OOO, and the Ministry had a
sense so delicate of "what was due to Parlia-
ment, and the respect they were bound to pay to
its authorit3 ," although Parliament had already
voted the money, that they could not
think of incurring the responsibility of disbursing
it after the Law Officers of the Crown had intimated
the discovery of some flaw in the wording of the
documents relating to it. Probably the House of
Commons, instead of being thankful for this extreme
deference, are simply conscious of the manner in
which their time is being wasted, and of the fact that
ten times £lB,OOO would be well laid out rather
than that the financial character of the Government
and the national credit should even for a moment
be compromised by such questions. There is a
narrow scrupulousness which may lead to results
akin to those from recklessness. If we are
once to establish the practice of appealing to
the Law Officers of the Crown with regard to the
propriety of making payments universally admitted
to be equitably due, there will not be a single lia-
bility of the Government that can be deemed secure.
Happily, however, public sentiment on these points
is in advance of that displayed by the Government,
and r o Ministry can resort to such proceedings with-
out loss of respect. In the present instance, all
persons would be greatly pleased if there were
some machinery by which, without inflicting
ruinous expense on individuals, an action could be
brou4ht for interest at 8 per cent. on the delayed
payments, together with the usual damages for the
breach of contract.--limes City Article.

The Queen and Prince Consort, accompanied by
the Prince of Wales and the Princess Alice, honoured the
performance at the Adelphi Theatre last evening with
their presence. In attendance were Lady Churchill, Hon.
Caroline Cavendish, Lord Cremorne, Lord Alfred Paget,
Lieutenant-Colonel the Hon. D. do Rosy and Major
Teesdale.

Accounts from Nicaragua mention the assassi-
nation of Mr. Joseph L. White, of New York, well known
both hi the United States and England as ono of the prin-
cipal promoters of the Nicaragua Transit Company. Mr.
White was shot by a fellow-countrymtuirho was engaged
in some rival speculation.