The Sun.
London, England, 1850-12-26 00:00:00

of the first portion of our proposition, we
would adduce the cases of Drury-lane and Covent-
garden, and of the second, those of the Adelphi and
Sadler's Welis. What is the secret of the great suc-
cess of the Adelphi pieces? Why, that there are no
stars there, that the company has been a permanent
one for years, that the artistes are thoroughly
used to each other, and know exactly how
and when to play up to each other, so as to produce
the greatest possible effect with the least apparent
effort, results the attainment of which the star
system renders impossible. At Sadler', Wells, again,
we have had recently our old sterling plays re-
presented in their entirety, instead of in
" starry" fragments, and with a unity and com-
pleteness that gives much greater pleasure to the
man of cultivated taste than could the isolated efforts
of the most resplendent star in the dramatic firma-
ment. The approaching retirement of Mr. MACISEADY
renders the success of an united effort on the part
of all managements to put down the star system
most hopeful ; and we trust they will unite, and,
once for all, effectually destroy a system which is
ruinous alike to manager and actor, to artist and
to art.

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday.
The trial of ALLAIS commenced on Tuesday at the
Police Correctionelle, and was likely to last several
days. It is made quite a party affair; the judge con-
stantly interfering to bully the accused and the wit-
nesses, more especially M. YoN, the Commissary of
Police of the Assembly, who denounced to M. Durex,
the Bonapartist plot (real or pretended) for his assas-
sination, which ALLAIS had revealed to him, whilst
M. DUPIN takes M. YoN under his protection, and by
his conduct shows that he at least believes in the truth
of the revelations of ALLAIS. This trial is the com-
mencement of the open contest between the PRESIDENT
of the Republic and the Assembly.
On Tuesday the Government narrowly escaped a
vote of censure for jobbing in the contract for cloth-
ing the army. The majority in favour of the order
of the day was 44 only, the numbers being 345 to 301.
The Constitutionnel has the following on the failure
of the negotiation for the loan :
"That the adjudication has not taken place is with-
out doubt to be regretted, but what is certain is that the
fault is not that of the Government. Every one, on the
contrary, was glad to see it fix its minimum at a rate in
proportion to the present quotation. The Bourse was
of that opinion, for after having fallen lf. the quotations
began to rise before the end, and closed 80a. lower than
the last prices of Saturday. It is to be remarked, also,
that the strange incidents of Saturday's sitting in the
Assembly, and the apprehension of seeing a new conflict
arise between the two Powers relative to M. Yon,
reckoned for much in that fall. What will the Govern-
ment do ? We cannot say; but we do not think it to be
very uneasy concerning the further results of this matter.
The capitalists will not fail probably to admit themselves
that they have esteemed our credit a little too low.
Already, it is said, offers have been made to the Minister
to take the roues at the pica of his minimum. At
all events the Government can wait, as the Treasury has
never had more money in hand. It is besides well known
that th 3 two millions of rentes were offered for sale less
on account of any present want, as to be prepared for
eventualities abroad. At present, seeing that the diffi-
culties which were apprehended have been in a great
measure removed, there is no hurry, and the Government
can take its time."

There was not much business transacted at the
Bourse on Tuesday, except in railroad shares, but Go-
vernment Stock was more firm than on Wednesday.
The Five per Cents. opened at 95f. 15c., fell to 95f.
10c., rose subsequently to 95f. 60c., and closed at
95f. 50c.; the Three per Cents. closed at 57f. 60c.
Orleans Railroad Shares, 860 f.; Rouen, 690 f.;
llavre, 272 f. 50,.; Great Northern, 487 f. 50c.;
Avignon, 195 f.; Vierzon,4lof.; Basle, 136 f. 25c. •
Bordeaux, 407 f. 50c.; Paris and Strnburgh, 358 f.
75c.; Tours and Nantes, 252 f. 50c. ; the New Pied-
montese Loan, 85f. 55c.

On Cbristmas•day the Bourse remained dosed.
The Five per Cents., however, were done out of doors
at 95f. 60c.

PORTUGAL.

Intelligence has been received from Lisbon to the
19th inst.

There had been a falling off in the Customs receipts
of 50 contos in the month of November, 1850, as com-
pared with the corresponding month of the preceding
S ear.