A new form of governing equation is derived from Hamilton's principle of le
ast action for a constrained Lagrangian, depending on conserved quantities
and their derivatives with respect to the time-space. This form yields cons
ervation laws both for the non-dispersive cases (Lagrangian depends only on
conserved quantities) and the dispersive cases (Lagrangian depends also on
their derivatives). For the non-dispersive cases the set of conservation l
aws allows to rewrite the governing equations in the symmetric form of Godu
nov-Friedrichs-Lax. The linear stability of equilibrium states for potentia
l motions is also studied. In particular, the dispersion relation is obtain
ed in terms of Hermitian matrices both for non-dispersive and dispersive ca
ses. Some new results are extended to the two-fluid non-dispersive case. (C
) 1999 Elsevier Science Ltd. All rights reserved.