The Sun.
London, England, 1857-04-22 00:00:00

LONDON, WEDNESDAY, APRIL 22, 1857,

As we stated yesterday, the most energetic
efforts are being made to tempt the speculators of
the Stock Exchange into transactions in relation
to the Russian Railway scheme, which has just
been introduced, under the auspices of Messrs.
BARING, Brothers, and Co., to the English market.
Every inducement is at present held out. Appli-
cations for shares have been forwarded from
• France, Belgium, and other countries for English
allotment•, which, if bona fide, might be made
under far more favourable circumstances in
the immediate vicinities where the par-
ties reside. The object, however, is to create
a market by an artificial demand, and, to
achieve that object, considerable sacrifices
will be submitted to in the first instance. The
moment, however, that men have been induced
to deal, to the requisite extent, the illusion will
be dispelled. The Continental " Stags," who
have taken care that they will be indemnified, in
any event will get out of the business on the best
possible terms, and although they may apparently
sustain losses of 2,3, or even 5 per cent., they
will be speedily recouped, with handsome additions
for " the use of their names," and the discredit
that must necessarily attach thereto when the
bubble has burst. The jobbers will then have
the stock thrown on their hands, and have ample
cause to deplore in sackcloth and ashes the ver-
dant credulity that betrayed them into such an
untoward scrape. They may laugh to scorn the
folly of the yokels who are victimised by
the stile tricks of the ring-droppers, skittle
sharpers, and benevolent gentlemen who have
large sums of money to be handed over
to the casual acquaintances of the beer-shop, who
can give proof of respectability by exhibiting sums
of money as a test of respectability. But there
Are " ring-droppers" on a gigantic scale, " duffers"
who persuade them that some worthless article
posaessea sterling value, and that they can
profitably exchange their hard cash for notes of
the Bank of Elegance, or gilt counters.
As we stated, the first step is to create a mar-
ket ! When that has been accomplished the rest
necessarily and speedily follows. The "green
goose" is virtually plucked' at the very moment
when he fondly imagines that he has realised
handsome profits, and has perhaps treated the
"placens uxor" to a "duck of a bonnet" or a
handsome silk dress, on the strength of the ima
ginary gains. Shares are sleeted at a pre-
mium, and the gull, feeling assured that ho
can obtain an allotment, sells shares which he
has not in possession, thinking that he can
realise and cut the transaction before the
inevitable blow-up. But he has reckoned without
his host. The premium will not be paid before
a settling day has been appointed by the Com-
mittee of the Stock Exchange ; a matter that
may probably be deferred ad Grrecas Calendas,
or, according to the vernacular, until " to-morrow
come never." Meanwhile, the dupe applies for
an allotment of a far larger number of shares than
is required for the fulfilment of his contract, in
the expectation of getting only a portion of that
for which he has asked. The moment the deposit
has been made and the letter despatched his doom
pronounced, hi; fate sealed. lie has actually

lodged a considerable sum—possibly borrowed.

which he cannot afford to lose. He has tampered
with the Demon and must go on ! From that
time forth he will have no-rest. Whatever may
be the result of his application, he is chained hand
and foot. If he gets the full amount for which
he hag asked, he has a larger number of shares
than he can dispose of on favourable terms, and,
even supposing that the settling day will be
appointed within reasonable time, and that the'
purchaser fulfils his contract like a gentleman, he
will lose more on the balance than he gains on
the shares that he has sold at a premium, and
will be personally responsible for the payment of
future instalments.

But even that would perhaps be the most
auspicious phase of the transaction. The parties
may have decided on a deeper game. It may
suit their purpose to draw the victim farther on.
A small portion only may be granted, and in such
case he will be compelled to buy in the market at 2 or
3 premium what he has engaged to deliver at /
or 1. Here there will be a loss at the very com-
mencement, and few have the strength of mind to
submit thereto, and shake off the first entangle•
went. Convulsive efforts will be made to get
back the original stake, but every plunge will
merely sink him deeper in the mire, until every
hope has vanished, and his ruin is accc.mplished.

" Cest le Premier pas qui coute." It is the
first step that must be avoided. The "Russian
Railway Swindle" should be expressly tabooed.
It is "the unholy thing" that should not be
touched under any circumstances—the "pitch"
that must defile those who touch it, that will still
cling to their fingers, no matter what efforts they
make at purification. We implore our country-
men, then, to be cautious. They have artful men
to deal with, men with ample capital, who will
care but little for temporary sacrifices if they can
induce parties to engage in the unequal game.
The very thimbleriggers will let their victims win
the first stake, although certain of eventually
stripping them of their last shilling. Let the
public, then, beware of the Muscovite sharpers.
They are fully warned, and if they now suffer
themselves to be defrauded they can expect
neither sympathy nor condolence from the com-
munity at large. Their weediness will meet its
just reward. An avenging Nemesis will punish
their unpatriotic cupidity.

The Neuchatel Conference still continues, but
• the prospect of a satisfactory arrangement is more
remote than ever. Prussia still continues her un-
tenable demands—endeavours to wring a good
round sum from the hard hands of the Confedera-
tion, and to compel it to sacrifice its independence
and honour to the so-called dignity of the peddling
Monarch. They have too late discovered the
folly of placing their faith in Princes. As well
might a simple house-bolder appoint a com-
mittee of old clothes' men to value the stock which
a confederate was anxious to obtain, as the Republic
refer their cause to the arbitration of high and
mighty despots who possess no feelings in com-
mon with themselves. They had the game in
their own hands. They had within their power
those who attempted to erect the standard of in-
surrection in their dominions, and to disturb the
peaceful community. Those who committed si-
milar offences in Prussia would experience the
tender mercies of the axe, the gibbet, or the
fusillade, or a protracted imprisonment, under
circumstances scarcely conceivable in England.
But when it was only the sanctity of a Re-
public that was invaded then even a trial
could not be tolerated. Prussia, the faineant
whom no sense of honour or decency could stimu-
late to action during the Russian War, must
avenge her injured dignity against the inoffensive
people—who brought to trial those who assailed
the constituted authorities, and endeavoured to
subvert the de facto Government.

The first demand is that FREDERICK WILLIAM
should still retain the empty title of Prince of
Neuchatel ! Why, this was the sole cause of the
existing difficulty. It was because he assumed
that designation that the complications arose,
and fresh dangers must arise from the continued
assumption, especially if it be recognised by the
Confederation. It will be the drawn sword sus-
pended over their heads, which may fall at any
moment that it may suit the purposes of the
quasi Prince to produce a conflict. It may be
said that the Kings of England assumed that
of France also until the time of GEORGE
111., and that King BOMDA. still retains that of
Jerusalem. But the Governments of France and
Jerusalem did not officially sanction the ridiculous
claims, nor did they liberate rebels, who strove
to render the nominal titles practical advantages.
Switzerland may afford a smile of contempt
at the claim ; but the moment they sanction it in
any way they expose themselves to the repetition
of attempts of a similar character to the abortive
one of Count PONTALES, the ex-aide-du-camp of
King atcouor, the son-disant Prince of
Neuchatel. If any concession is to bo made
on this point it should be by Prussia. If
FREDERICX. WILLIAM be willing to surrender the
substance, as he declares himself t) be, he should
also yield the shadow—and not strive to create a
Swiss " ScuEmn," who must always pain-
fully feel the loss of the necessary
appendage—valueless to CLICQUOT, but of inesti-
mable consequence to the ether parties concerned.
A pecuniary indemnity is also claimed ! An
indemnity for what ? Not for private property
held by the KING in hisindividusl capacity, but for
state possessions attached to and inseparable from the
Government. Private property would, of course,
be respected. We know but little of Swiss sen-
timents if they would retain it under any possible
circumstances. But to concede the demand would
be to confess themselves wrong-doers ab initio,
to acknowledge that they did not possess the
authority that they have so long exercised. The
indemnity, too, must be relinquished. It cannot
be maintained with credit-, nor yielded without
dishonour.

The SAIDA may be said of the required guar-
antees respecting the administration of the
eccltsiastical property and the maintenance of cer-
tain benevolent institutions, in which CLICQUOT
affects to feel an interest. They are merely loop-
holes for interference in the internal affairs
of the Canton, which can do him no good,
but may be highly injurious to the 'safety
of Switzerland. No good can possibly
arise from the so-called "protection" so
greatly loved by despots. It is something
analogous to the " protection" afforded by the
wolf to the lamb, that invariably ends in the de-
struction of the weaker party. It should, there-
fore, be unhesitatingly rejected by Switzerland.
She has already yielded too much. If firm, she
must be sustained and really " protecter by
France and England, notwithstanding the suspi•
cious interference of the EMPEROR, or the con-
templated niatritnonial alliance between the Prince
of PRUSSIA. and the Princess Royal of ENGLAND.
If, then, the problem cannot be satisfactorily
solved, let her fling diplomacy to the winds and
entrench herself firmly in her mountain fortresses.
CacQucer will pause-befor he assumes the eff-n-
-sivo in a matter where he must eiacouutor

the opposition of France and England; and where
if even left to fight it out with Switzerland, she
might have but little to boast of as to the final
results of the conflict. CHARLES the Bold re-
ceived a painful lesson, that should not be
thrown away on " FREDERICK WILLIAM the
Timid."

HEALTH OF TILE DUCHESS OF GLOU-