Crossing the Pyrenees to view the works in the Peninsula, which _Bradshaw_ may possibly have to register in 1862, we find that, amid the financial difficulties of Spain, three lines of railway have been marked out--from Madrid to Irun; from Aranjuez to Almansa; and from Alar to Santander. The first would be a great line to the vicinity of the French frontier, to cost 600 millions of reals; the second would be part of an intended route from Aranjuez, near Madrid, to the Mediterranean; the length to Almansa, involving an outlay of 220 millions. The third line, from Santander to Alar del Rey, on the Biscayan seaboard of Spain, is intended to facilitate approach from the interior to the rising port of Santander; the outlay is put down at 120 millions. It is difficult to translate these high-sounding sums into English equivalents, for there are three kinds of reals in Spain, varying from 2-5/8d. to 5-1/4d. English; but taking even the lowest equivalent, the sum-total amounts to a capital which Spain will have some difficulty in raising. The Santander line, however, has attracted English capital and engineering towards it; the first sod was turned by the king-consort in May 1852, and the works are now in progress. There is also an important line from Madrid to the Portuguese frontier near Badajoz, marked out on paper; but the fruition of this as well as other schemes will mainly depend on the readiness with which English capital can be obtained. Unfortunately, 'Spanish bonds' are not in the best favour in England.