The Sun.
London, England, 1850-09-11 00:00:00

extraordinary advantages to the community. The
tolls and rates were in some instances fixed so low
that there could not by any possibility be an adequate
return for the capital expended. The companies were
compelled to carry the mails at almost nominal
charges, which hardly covered the locomotive
expenditure, and they were obliged to run what
are termed "Parliamentary trains" on very favourable
conditions to the public generally, It might be sup-
posed that these various Oligations were sufficiently
onerous, and that when they were punctually per-
formed no further difficulties would be interposed.
But not only the Government of the country, but
every parish through which the railways are carried,
compel them to contribute to the national or local
expenditure far beyond their fair and just proportion.
From a return which has just been issued, it appears
that the amount of income-tax paid by different
railway companies for the year ending the sth of
April, 1849, was for Great Britain (Ireland not being
subject to the tax) 184,9211., representing a net in-
come of 6,164,0331. Of this we do not complain.
It is just and proper that accumulated and realized
property of every kind and description should contri-
bute in proportion to its ability to the maintenance of
the national establishments, and the liquidation of the
national liabilities. But the matter does not stop
there; immediately afterwards we find that the pas-
senger-tax during the same period amounted to
no less than 237,9091. 13s. 10d. This impost is levied
at the rate of 5. per cent, on the gross receipts from
passengers. No allowance is made for the cost of
earning that money, and if we estimate the total ex-
penses throughout the entire country at 50 per cent,
on the gross receipts, and we take that to be a per-
fectly fair average, we find an additional tax of ten
per cent. on the net profits, to which railway share-
holders are subjected. But even this is by no means
the worst feature of the case. The debenture holders
and guaranteed proprietors defray their proportion
of the income-tax. BLit the passenger-tax falls
altogether on the general body of shareholders,
without drawback or deduction of any kind, so
that it is by no means -an over- estimate to say that
the ten per cent, on the net profits, which the pas-
senger-tax amounts to, is increased to at least
25 or 30 per cent. on the amount distributed among
the shareholders. They thus practically pay income-
tax to that extent on their dividends, while the for-
tunate holders of Three per Cent. Consols, or,
in fact, of almost any other description of
property, escapes for 2/. 181. 44. per cent. on his in-
come. Is this equitable or just ? Is it what public
benefactors have a right to expect from their grateful
country ? We fearlessly assert that it is not, and
that it only requires to have the matter properly ex-
plained, and held up to.public indignation, to have this
flagrant grievance redressed—to ensure the total re-
peal of the passenger-tax on railways generally
throughout the United Kingdom.

THE FRENCH REPUBLIC.

We have received the Paris journals of yestarday.

The divisions among the reactionary party are be-
coming every day more palpable. The Patrie, the
organ of the Bonapartists, denounces the Legitima-
tists, the Orleanists, the Assembly, in fact all who
are imagined to be opposed to the permanent estab-
lishment of Louis NaroLxoN, in terms as severe as
those in which it has heretofore denounced Repub-
licans; while the Bourbonist prints, such as the
Assemblie Nationale, the Opinion Publifue, and the
Ordre, apply to the Bonaparthts those terms of vitu-
peration which they have hitherto devoted to the ex-
clusive use of the Red Republicans and Socialists.
General CHANCARNIER has ordered a large military
force to hold itself in readiness to put down
any attempt that may be made by the Society of the
10th December to get up a Bonapartist demonstra-
tion on the arrival of the PRESIDENT in Paris.

MM. GUIZOT, DITCHATEL, DUMON, and DE MONTE.
BELLO have returned to Paris from Claremont. M.
SALVANDT, who had been to Claremont, has set out
for Froshdorff. This has given rise to a rumour that
the negotiations for a reconciliation between the two
branches of the House of Bourbon have been renewed.

Letters from Algeria mention that five new arrests
have been made at Oran in connexion with the con-
spiracy discovered some time ago there; sixty-four
persons, not including the military, are now in cus-
tody. The Attorney-General was preparing his
indictment.

PAnis !OUBBE, SEPT. 10.—Latest Prices—Five per
Cents., 93r. 40c.; Three per Cents., 57f. 80c.; Back
Action'', 2,590 f.
BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON &LUCK EXCHAN6E, SEPT. 10.

East Indian, 914—Rouen and Havre, 9%—Tours and
Nantes, 3%.

SPAIN.

Madrid journals of the sth have arrived.
Their contents are unimportant.
MADRID BOLSA, SEPT. s.—The Three per Cents.,
33 11-16 ; Five per Cents., 14 Exchange on Lon-
don, 50 40.