The Sun.
London, England, 1850-03-04 00:00:00

THE SUN,

cottager the trifling sum—occasioned by the excise
duty—makes all the difference in the world. It pre-
vents the publication of works suitable for his instruc-
tion and recreation at a price suitable for his scanty
finances. There are exceptions to the rule, it is true,
but at what a sacrifice such undertakings are ren-
dered possible the recent revelations of Mr. KNIGHT
hear witness. Similarly baleful are the consequences
of that other burdensome impost, the advertisement
duty. By this also every member of the community
is affected. In our state of extreme civilization, in
which that saying of the poet is utterly falsified,
" Man wants but little here below," every individual
is continually in want of something either to give or
to get, to dispose of or to purchase. In no way can
the seller find so great a market for his goods, and in
no way can the seeker find so profitable an
answer to his requirements as by the medium
of advertisements. But here again übiquitous
taxation makes itself felt. A sixpenny hook cannot
be announced to the reading world without paying
three times its price as a tax upon such an announce-
ment. Mr. KNIGHT might have added a supplement
to his pamphlet, showing how materially the adver-
tisement duty adds to the publishing cost, and
enhances the arduous struggles of a book. Let us
suppose an adventurous publisher brings out some
popular work at the lowest possible price, in order to
suit the means of the great majority. In order to
make it known to that great majority, exten-
sive advertising is essential, whereby, in conse-
quence of the tax, the cost of producing the
work is more than doubled ! Is it necessary then
to inquire if this tax be inimical to the diffusion of
knowledge ? Viewing it thus in only one of its
many objectionable bearings, its ill-effects are most
palpable. Yet we can hardly expect that this and its
obnoxious companion imposts will be at once abated,
unless the sentiments of the people thereon are
unanimously and unmistakeably made manifest.
There is yet, happily, before Mr. MILNEB. GIBSON'S
motion, time sufficient for such a demonstration.
Let the other constituencies of the empire follow the
example of the electors of Bradford and others, who
have already placed in the hands of their representa-
tives proof positive of their anxiety fur the unim-
peded diffusion of knowledge.

The question of the audit of railway accounts is
one of the deepest and most vital importance to the
welfare and prosperity of the shareholders in the
various undertakings throughout the country, in
which an amount of capital has been invested to the
extent of nearly two hundred millions of pounds
sterling. Until the last year, the entire matter appears
to have been left in the hands of the directors, who
practically possessed an unlimited control over
the affairs of the different companies. Abuses
and errors were, however, brought to light that
directed the public attention strongly to the impe-
rative necessity of securing for the general body of
shareholders an efficient, independent, and bona fide
audit, that could not be affected by any undue in-
fluences, which would insure to the parties interested
a full and accurate knowledge of the real state of
their affairs, and of the actual position and prospects
of the undertaking in which they were respestively
concerned, and at the same time would enable capi-
talists to know that they were possessed of sufficient
date to warrant them in making large investments. We
believe that there would now be but little danger of
directors exceeding the legitimate powers with which
they are entrusted, and that in many instances the
boards are as anxious as the shareholders themselves
to secure the adoption of such a system as will pro-
vide a continuous scrutinising and complete investi-
gation into the accounts, but without depriving the
proprietors of the control and management of
their own affairs. We also believe that there
is no probability of the general body of
shareholders being so supine-',' or remiss as
on former occasions, or by their owa'apathy affording
temptation to any future irregularities.- Bygone

transactions can, therefore, afford no legitimate pre-
cedents that can be relied on as 'guides to future
legislation. It is certain that whatev9r powers may
be granted to proprietors will be fully made available
and not turned into "dead letters" through any negli-
gence or carelessness on their parts.
Various plans have been recently brought forward
for the purpose of providing a fitting remedy
for the admitted evil. It has - been pro-

posed to call in Government superintendence,

and a Bill was actually prepared during the last ses •
sion for th it purpose, which was only postponed in
consequence of the urgent remon3trances of many
influential parties deeply interested in the welfare
and prosperity of railway property. It was supposed
that a measure would be prepared, under the sanc-
tion and authority of the directors of the different
undertakings, that would satisfy all parties ; but un-
firtunately no conclusive agreement could be ar-
rived at. A Government audit was strongly and,
as we conceive, most justly objected to, but no ade-
quate measure was brought forward as a substitute,
the Bill that had been prepared by a committee of
delegates from the boards of the principal railways
having been abandoned. Under these circumstances,
the proprietors have very properly determined on

taking the matter into their own hands, and for that
purpose committees of shareholders have been ap-
pointed by the leading companies to confer together
and determine upon the proper measures to be
adopted for additional legislation on the subject of the
efficient audit of railway accounts.
We have reason to believe that the gentlemen so
selected have already made considerable progress in
the arduous and important task which they have
undertaken. The principles of a large and compre-
hensive measure of railway reform have already been
fully discussed, and even the details of a Bill agreed
upon, which it is hoped may be brought forward
in the House of Commons within the present
week. It has, we believe, been decided that
no principle will be sanctioned which can take
away from the different companies the right
of controlling and managing their own concerns
in the manner which they may consider most con
ducive to their own interests, that no extraneous in-
fluence will be suffered to prevail in the appointment
of auditors, but that at the same time the most strin-
gent precautions will be adopted to prevent any un-
due subserviency on the part of the auditors to any
governing bodies, but that their sole allegiance will
be due to the shareholders by whom they are ap-
pointed to their responsible situations. This is
as it should be. It will at the same time
remove every well•grounded apprehension that could
be entertained, will restore confidence to the public as
well as to the shareholders, and will obviate the fears
that might reasonably be entertained if the principle
were affirmed that a body of commercial men could
not be entrusted with the direction and management
of their own affairs

We find that the Honourable Member for Reading
has given notice that he will on to-morrow, Tuesday,
the sth instant, ask leave to bring in a Bill "for the
more efficient audit of railway accounts." We fear that
this movement on the part of the Hon Gentleman ie,
to say the least of it, premature. It is hardly fair to
the gentlemen who have been for some time actively
engaged on the subject, and whose labours have
almost been brought to a conclusion, that either a
private Member, or even the Government, should
interfere before an opportunity is afforded of consi-
dering the measure, which may he said to emanate
from a body representing capital to the amount of two
hundred millions sterling, or rather more than one
quarterof the national debt. If any reasonable objections
can be shown to exist to the Bill about to be brought
forward under such auspices, other parties may be
warranted in interfering, but nothing certain canes
yet be known on that point. We feel convinced,
therefore, that the Honourable Gentleman, whom
we believe to be actuated by the most laudable
motives, will ecnsent to postpone hii Bill until, tlo
iiitrcductit.ii Of that to Is hich we hare which
will have Tee( ived the assent and approbation of the
(negates from the different companics.

THE AMERICAN MAir.—Tile British ar,d North
nerican Royal Mail .tt air er, Euroua, which sailed
fr,nl New York on ttn• 1941 ult., is expected in the
NilerEey this morning. She will have eleven days' later
news trom New York, and no doubt additional intelli-
gence from the West India islands.

DEATH OF THE REV. E. BICKERSTETH. The
Evang«,lieal party in the Church of England have sus-
tained a he avy loss by the demise of this divine, who ex-
pired late last week at the rectory, Factor, Hertford-
shire, where he had been settled for upwards of twenty
years.