The Express. — London, England, 1847-03-04 00:00:00

dered th iscieeme not merely with a view to the Kepi neon of 'wealth, but to the accomplishment of the adveneement of the heahh, morality, and civilisation of the ;teat mass of the community. Ile (Sir R. Peel) would that charge was well founded or not, though .I:b7hlewvedh.ththere political economists of this country confined their writings to one bane of that very diversified subject ,• but he was ready to argue this question on the extended principles which the Italians would apply, and to inquire into the proposition, not with a Yin , / to the wealth of the min tifacture's, or its mere Requisition, hut with respect to its probable effect on the health, strength, comfort, and "rel. hre of the great MUG of the labouring population. (Hear, hear.) The ground upon which he shoald to-day give his y o u, was, the conviction of his mind that it would nut be for ou welfare of the working classes—that it would not be for their intelh cute culture or social improvement, to impose' restrictions on their hones of labour. (Hear, hear.) He looked at the ques ion as it regarded the general interests of the whole community, and he regarded with alarm the ow' siderations so ably adverted to by the right hon. pentium& opposite, the Viee-President of the Board of Trade (ldr. M. Gilson). What was the present state of things in this country ? Why, that at a time of comparative prosperity, they were levying at this moment 6,000,0001., to be strictly and actually applied to the relief of the destitute, and to the maintenance of those who could not support themselves by ordinary labour. (Hear, bear,) This important contagion all sides were compelled to make. The security for this relief was the capital, the maehivery, and the labour of this couutry. And was not the lose of gain sharpening the minds of other nations—the Germans, of whom honourable mention had been made in the course of the discussion ? Frenchmen and Italians were as desirous of gain and the acquisition of wealth as were Englishmen, while they were not inferior to them in intellectual acquire men's. And let him take capital, machinery, and labour ise the elements 'if this country's prosperity : Every man hoped for the continuance of peaoe, and in that event what impedi ment was there in the way of the employment of English capitol, with its machinery and labour in foreign countries? (Hear, hear.) Probably many foreign countnes would, in the event of the restriction being put on the hours of labour here, see the policy of inviting over these resources. (Heat, hear.) Machinery was already exported, and in that item, at least, them had not been any diminution. It was close, then, that capital might be taken abroad, that machinery was already exported, and it became necessary seriouely es consider the remaining question, should labour be mes demned to remain at ho Te ? The noble lord, the mossba for Lynn, was now a great advocate for the construed."' of railways—that system of locomotion wee extending itself both in England and on the Continent. The greater that extension, the more would the means he facilitated of free egress for the skilled manufacturers and artisans of this country to the receipt of higher wages abroad. The preju dices of the English artisan to removal from his home, weft fast declining from the English character. He read of higher wages abroad—he read, further, that the ancient hostility to an Englishman was ne more felt or encouraged— he found he could reach Rouen, or any other place in France, in 12 or 14 hours, and these facto, together with a feeling pertly of curiosity and partly of a hope of gain, ought all to operate upon this house as reasons why it could not continue to control English labour as formerly when locemotion wee difficult, and when prejudicesexeted and prevailed. Hebei account were true, what then was the present position of the house? Over the capital, machinery, and labour of the country they had no command ; at this moment when the manufactures and commerce of the country were exposed to active competition abroad, it was proposed to place re strictions nominally on the labour of women and children — but practically upon adult labour. (Hear, hear.) It was proposed that to a man in the possession of health, and having an anxious desire to labour now, foreeeeiag that age or sickness may sooner or later incapacitate him, it should, be mid, "You shall not work more than five days in the week." (Hear, hear.) With the facilities to which he (Sir R. Peel) bad already adverted for the egress from this country of capital, machinery, and labour, he must repeat that he feared the consequences which might result from the decision of that house in favour of such a proposition. Still, if the advocates of this measure could convince him that it was possible that the great cotton, silk, woollen, and linen manufactures, had take,, such deep root in the: country that it would be impossible for ether nations to compete with them—if they could convince him that there were no prospective dangers, end that the measure would *induce to the moral and intellectual improvement, and to the comfort and social welfare of the great body of the working classes—he should be almost tempted to yield to their arguments, and to consent to a trial of this further experiment. (Etter, hear, hear.) He believed that the welfare of the country depended upon the improvement in the condition and the elevation of the feelings of that clam of society—it would not he safe without it. But they were already giving them education and the means of intellectual improvement, and, unless they also increased their comforts—if, by legislative restrictions, and not as now was the case in Ireland by the visitation of Pro vidence, those c onions were diminished or interfered with, then the intellectual improvement of the people would be come a source of great danger. (Hear, hear.) He believed that the source of the future peace, happiness, and prosperity of the country must be in the religious and moral improve ment of this class of society. Was it then to their advan tage that the legislature should impose upon them those proposed restrictions upon their labour? The bon. member for Salford (Mr. Brotherton i who bad to-night delivered a speech most honourable to himself, and evinced feelings in which he (Sir R. Peel) must in a strong degree participate, had said that the only question was, to vote that a woman or child, under 18 yearn of age, shall work ten hours a day. If that were the question, he (Sir B. Peel) should decidedly be for eight hours, for he was quite of opinion that eight hours a day was quite enough for a young girl under 14, or • mother with three children, to work ; so that if the debate turned upon this point, be (Sir R. Peel) was not for a ten hours, but for an eight hours bill, provided all the advantages, which it was said the leisure thus afforded would give, were secured. He did not deny the advantage of leisure, hut of this he was perfectly convinced, that the real way to improve the habits and elevate the character of the working clears, was to give them the command of the necessaries of life. (Cheers.) It was said that the measure was not in tended to diminish wages, which gave the means of com manding those necessaries. Why it would be one of the greatest anomalies he had ever heard of in legislation, if it were not intended to interfere with wages, to say that a man should only work five days • week—that five days should be the maximum of labour, and yet expect the master will pay him the same amount, as though he worked six days. The employers of England were now exposed to com petition with the manufacturers of America, Fraece, Germany, and Italy, and was it common sense to require them for five days' labour to give six days' pay ? (Hear, hear, hese.) But, said the advocates of this measure, "there is • mode of doing this." What was that mode ? By straining all the faculties to accomplish is 11 hours that which was the produce oflel2 hours' labour. Now, if the master was compelled to realise the came amount of production in II hours as was now effected in 12 hours, the greater must be the strain on the tender faculties of mind and body of the operative. Nay, the hon. member for Leeds (Mr. Beckett) had declared his fears that such would be the case. (Hear, hear.) But to another view of the question. It was very easy to talk of this as a matter of wages, but indeed of the wages let them call it the "income" of the labouring man with which it was proposed to deal. Upon that " income " this measure would inflict an income-tax of the heaviest kind. (Hear, hear.) Supposing a manufacturer had 1,500 people employed on his premises, not engaged in the process of the manufacture, but necessary for the conduct of the business; by this restriction of the hours of labour, they would (suppo sing each of those persons earned 601. a year,) just deprive them done-sixth of their income, and lay upon them a tax, not of 21.185. 7d., but to the whole amount of the ten pounds which they lest through this restriction, and take from him not 3 per cent., but 10 or 12 per cent of all that he obtained. Without referring to the debates which had taken place on this subject, he would content himself with quoting a hick authority, whom opinion in this respect was pregnant with truth. In the pump before him it was stated that the working classes, in a time of _prosperity, part;cipated in the benefits enjoyed by their employers, but not to the same ex tent as they suffered from deproatiees in the time of adver sity, so that it was absolutely necessary for them to realise same surplus; for in the time of adversity it was sure to be ail absorbed. And this effect would be wrought by the endeavour to repeals wages through ill-advised legislation. By this means also they would deprive them of the °prone lenity of laying by the 6!. or 101. which had so often proved the foundation of the future fertilise and Indepen dence of the family. It was impossible to overestimate the value of this saving of • 51. or 101, note. It was a ques tion for the father of a Sally, imitating the honourable ex ample of the eon , m em b er for Salford, being left at liberty to exercise all his faculties in time of health and prosperity, and to call his family around him and declare that by working hard in times of health, he could la' the foundation of that fortune which hundreds in Lancashire bad acquired by honourable exertion and high integrity. He had known men who, when he was a boy, received their 26*, perm* to hare acquired fortunes of 100,0001., and be did not doubt the hon. member for Salford knew the individuals to whom he alluded. (" Hear" from Mr. Brotherton.) Bet would this be possible if the paralysing effect of legislation should be applied to the restriction of the hours of labour ? Impose restrictions on labour, and the avenues to advance ment would be cut off from the working classes, and the workhouse in the hour of adversity would be only open to them, Would not the able-uodied workman rush to Dover by spar. liamentary train, and take his skill, his industry, his know ledge, aye, and his English character, to some foreign place where, under a wiser policy, he would enjo the unrestricted exercise of hie labour? (Hear, hear.) With moped to th^ distribution of a man's earnings, he had be fore him a book containing an account which struck him most forcibly. It was an account of two families eiraMg, one Its., the other 9s. per week. The first ate fisted of 9 persons, and the earnings were thue= bated : for bread, 10s. 6d. ; rent, Is. ; fire, Is. ; washing, 11.—cieseeig 13e. 6d, per week, leaving 4s. 6l for clothes, ha, neon, and meat. The second family consisted of 7 pees etc, who, after expanding 6s. 6d. for bread, sad paying for rent, fire, &c., had only 9d , left for clothing, meat, - stud "her necessaries for a family. In the same book various Illations were put to the Rev, Mr. Unstable and others, se to how it was possible for a labouring man with a family Of for 6 children, to exist upon 10s. per week. Mr. Mutable "Plied that this was • problem not to be solved by human calculation, all attempts to arrive at it have meanly failed. Another gentleman, in reply to a similar ripertion, said that he had never surxeeded in eliciting a ea tieeterysumer from the wives of any of the labourers who ere in that position. (Cries of " Divide, divide.") He K Peel) would not further interfere, looking at the lour which had arrived (10 minutes to 6 o'clock). He would conclude by declaring that heattached the highest 101- Portance to the elevation of the working classes, and he "t 4,1 against going Into committee on this question, not be- woe he wanted a permanent fund for the purpose of taxa- i tion, but because ho believed that the bill would interfere with the comforts of the people ; because he believed that it would endanger the great resources of the country ; because he believed t at it would Clippie their energies and dissipate the national wealth ; and feeling, as he did, special obliga tions to the working classes of this country—believing, as he did, that this restriction would not be for their interest, he reconciled himself to promote by his vote their welfare, al though he might offend them in doing so. (Cheers.) The house then divided— For going into committee Against it lOO-90 The house then adjourned. share of profi!, on acme At of the business ability which he devoted to the concern. The Amendment being withdrawal, Mr. Wteaaw proposed another amendment fur 3,5001, wl.ich, after a short duces nos, wAs also withdrawn, and the original motion, for the paLment of 3001. to each director, was agreed to. The CHAIRMAN then moved a vote of thanks to Mr. oa bsrt, the general manager, and the managers of the several branch banks, which was un.inimoudy adopt,d, and was briefly acknowledged by Mr. Gilbert. Thanks were then voted to the chairman, which that gentleman acknowledged, and th•e proceedings then terminated. THE SAMARITAN SOClETY.—Yesterday the fifty sixth annual meeting of the governors and subscribers of this histitution, for too relief of various &airtime, for whirl no provision is ordinarily made by public hospiffils, by as sisting them when discharged, affording surgical aids, and the support of those convalescent patiente requiring country air and sea bathing, was held at the institution, for the pur pose of receiving the report of the committee for the past tear, and the election of officers for the ensuing year. The report stated that the rec:ipts (including last year's Wallet of 1741. 2..) amounted to 7601. 7a. 7d. ; tho expendi ture to 4991. Ils. Od.; the funded property amounts to 14,1411. A library has bees established for the use of the in-patients of the hospital, which now consists of near 800 volumes or works of piety and religious instruction, biography, natural and geaeral history. and works of us t ful information and interesting nature. fLe officer , being elected, thanks were voted to the chairman, and the meeting broke op. money A iety was held last theft roo ep m sgin t S rh er t o c eonp e ; f 7 7 ,tethninR Y :p. omffee F elt.: o ,re:r. R . ..tig.y.so T ito pr otb; : ::;7 A ,hd. E M .Qtoctun: S . Nic several . thb presided, pon the molio',, that t h rt subject for diacu•riea :cl,:wdi s r m eport shave t h as re of e e se to e mode f eeding be received, Mr. Stuart moved that it be referred to the committee to consider, and further to re port upon, a series of resolutions embodying numerous practical reforms— among others, whether matters in Cetaneeiy might not be disposed of by a master, without, reference tu' a judge; whether businisn might not be better distributed between the judges and masters; wh , dire many of the duties of masters might not be diee',,,reed by subordinate officers; and whether there might not be devised a more effectual mode for taking "wun'a and disposing of the administrat ive business. This mfe:ion, having been supported in an able Weed], was 11 18`0 80 ..ed by Mr. Commissioner Mule, but stew nuouilY °V.mri.-d by Mr. Spence ? upon the groubde that these =Nen were not contained m the original reference to the cfromittee, and that it would be a ri Section upon the conly.nittee to refer back its report, which deserved and emelt to be considered upon its own merits. Mr. Spence accordingly moved the previous question, and the meeting was occupied with this preliminary discussion up to the hour of adjo ailment, when the consideration of the entire num- Hob w.is postponed until the next meeting. YtIGHTLY SHELTER FOR THE. HOUSELESS POOL Yesterday, the committee of the above susseirtion stades '-eport of the number of unfortunate individuals who have sought shelter in the society's asylums during the incle mency of the weather sine' the 14th of December. In the central asylurr, Playhouse-yard, St. Luke's, 6,094 mew, women, end children, were admitted; in the eastern ay 11101, Gl a sshouse-street, East Sithfield, 4,807 ; the western asylum, Upper Ogle-street, Marylebone, 6,677: being a total of 16,578 distressed and homeless persona. During the above period 184,426 rations have been distri buted. S T ATISTICS OF C ON VICTS.—On the Ist of January, 1846, the total number of convicts in Vas Diemen's Land was 29,949, of which 7,236 were holding tickets of leave, 12,240 were prwbolders, and 10,473 were in the probation gangs. Of the 12,240 pass-holderi, 3,509 were unable to find work, and of the probationers 3,852 would reoeive passes in the year 1846. Of convicts sentenced to transportation In England the number received into ldillbenk prison in 1843 was 3,591, of which 2,420 were .rot to Van Diemen's Land ; in 1844 the number received was 3.240, of which 1,888 were sent to the colony ; and in 1815 the number was $229, of which 1,629 were sent to the same colony. By an order of the present government, transportation of male convicts to the colony of Van Diemen's L , nd has been discontinued. The subject of transportation and convict discipline is to be by Earl Grey. brought TtiE WATERLOO L b :Se/ for : B T . ?: e.DtoMilrolu'eyteesait,,RlArdaraldi,WcmidATl:dachEyead,Twiefsclikil,ortof rt. Martin's, sold the building msterials of fifty brush, situate in Broad-stmt, High-street, Centerbury-place, road, and , street, at the west side of Lsmbeth Palace ; the ground they occupy being required for the extension of this railway to Waterloo bridge. The viaduct on which the trains will run has already reached Lambeth-walk, having crossed the Wandsworth, Kennington, and Vauxhall-bridge-reeds. FlRES.—Yteterday, between 12 and 1 o'clock, information was received at the various fire stations that a fire was raging at Deptford. The engines of the Brigade and West of England Company, with a strong body of fire men, were despatched thither ; and on their arrival, two houses in Fisgon-row, Deptford, were on fire. One by that time (a clothier and draper's) was entirely con sumed. The firemen exerted themselves to the utmost, but by two o'clock both houses with their contents were re duced to a heap of rains.—About half-past nine, a.m., a ths broke out in the workshops belonging to Mr, Willoughby, carpenter and builder, Pearl-st;ein, slid Gravel-lane, Wap ping. Owing to the Combustible nature of the stock, and also of the building, the latter being nearly all wood, the fire travelled with great fury. The engines of the London bri gide, parish, and West of England o ffi ce attended, but the building was speedily burned down. The occupier was in sured in the Phecnix office. THE RECENT COLLISION ON THE RIVER.—It has been ascertained that the vessel which ran down the schooner Rose was the Royal Victoria steam ship, 300-horse power, Captain Miffidethwaite, the property of the London, Leith, Edinburgh, and Glasgow Navigation Company. The wreck lies in deep water, her cro , strees only being observ able at low water. The Trinity have placed buoys near it, and lights at night, so as to warn vessels getting foul edit. She has 150 tons of goods on board, comequently her raining will be a matter of considereble difficulty. Captain Fisher, of the City of London Harbour, inspected what is to be seen of the wreck yesterday, and commenced the necessary ar rangements to lift her. The number of lives lost amount, it is feared, to the extent already mentioned—seven ; two sea men, three passengers, and two friends of the captain. INQUEST,YF.sTKRDAV.—UNWHOLESOME LODGINGS, At the Shakspeare's Head, Wyetvetreet, Strand, before Mr. Bedford, on the body of James Laban, aged 54, an ivory turner. The deceased resided at No. 41, Wyeh-street, sod had been in great disteem for some time past. He died sud denly on Saturday night last. The witnesses agreed that he was in a very destitute condition, but did not think that he died from starvation.—Mr. B. Brookes, surgeon, of Bedford street, Covent-garden, said that he had made a post modern examination of the body, and found that the cause of death was hydrothorax, that is, water on the chest. He could not help bringing under the notice of the coroner and jury the filthy state of the locality where the deceased resided, the impurity of the air, the want of proper drainage and suffi cient light, all these most uncongenial to a man in his state of disease. His room was in a filthy condition, and destitute elf the necessary comforts of life. After ten years' expe rience as surgeon to the Strand Union, he could state that the poor did not die so often, as represented, from absolute want of food as from the impurity of the air they breathed. He mild not speak in terms too condemnatory of the neglect of sanitory regulations. The jury returned a verdict in accordance with the medical evidence. IRELAND. L DUBLIN, MARCH 2. The country correspondents of the Cork papers supply columns filled with descriptions of misery. The parish priest of Coachford states his belief that 4,000 out of 6,000 souls who compose the population of his pariah have not for the last three months had " even fine substantial meal in the day." One in every seren of the population is reported to be sick; and of 300 families, among the most destitute, " not less than three on an average in each family are afflicted with fever, dysentery, or dropsy." The mortality, as may be easily conjectured, is very great under such circumstances; so many as forty adults dying in one day. There are accounts as afflicting from other districts. In the city mortality progresses. The number of deaths in the workhouse, for the week ending March 1, was 168. The total number in the Louse was 5,704, of whom 688 were in hospital. An extensive land agent in the south informs me that the farmers are girding themselves for the spring work. The old potato ground, or, as it is called in local vernacular, " the redigging," has been prepared for oats, and other supplies, supposed to have had no existence, are beginning to appear. The early potatoes, however, are the great puzzle. The =an farmers generally contrived to store a fair quantity of seed, taking chance for the seundnesa They have been so far fortunate that the are turned out of the pita at least as souncl i ts t* t e h s ey were stored. This result has given them courage, and they would plant--but then the formidable risk. However, a fair breadth will be faid under the potato through out Munster. The registration for the whole Liberal party of the Irish metropolis has been for years managed by the staff of the Repeal Association, and the expenses de frayed from the funds of th at body. For the last year or two the Liberals or Repealer. have always maintained a lead at the sessional registrations ; but with the decline of the repeal funds the registry has not been worked with vigour. The consequence has been that the Conservatives have obtained majorities at the late registration sessions. To counteract this sue. eels, the Liberals—non-Repealer as well as &peeler. —have determined to organise an association for the express purpose of attending to the registration ; and a meeting to arrange preliminaries was held to-day at the Commercial-buildings. Mr. Brenan, a gentleman who had been a mer chant in Dublin, and who at present resides in England, has adopted a means to stimulate the people to the caltivatito of the land, which it would bo tel 1 ghe epprtoo. WAILS. The malls the the Breaths, the Weer Plate, Monte Video, Cermet =gßahia, Mediates, and Bassos Ayres, will be mode op on the of the 4th March. The mails for vivo, Oporto, Ligon, Madeira, Culla, and Gibraltar, will be made up on the morning of the 7th March. The overland eloped math, eio Marseilles, to the Mediterranean, rime. Aden, Ceylon, India, Kong Kowg, *c., will be made up on th e evening of the ath March. Tho overland trails for Gibraltar, Malta, Otte*, the lonian Wanda, Zit Aden, Ceylon, Hong-Kong, and China, Ma Southamton, p made up on the morning of the 20th of March. The moan for New South Wale., Van Diemen', Land, and New Zealand will be made up on the menthe of the Slat March. The Nest India mils, excluding those fur Mexico, Honduran and the Havannah, will be mode up on the morning of the Slat March. The moils for !ninth North America, Bermuda, and the Belted States, will be made ap on the evening ot the 3rd April. 14011 WATER AT LON IX)N-BIIIDGF. TIM DAT—Yoram 32 min. post 3; Allarnme, 44 min. put S. To.lionnow—Morninn, 1 rain. 13443 4 ; Afternoon, 17 min. peat 4. LONDON, THURSDAY, MARCH 4. AT the morning sitting of the House of Commons, yesterday, on the order of the day being read for going into committee on the Factories Bill, Mr. Reeorr opposed the motion. He implored the government to refuse their sanction to the bill, with respect to which the working classes laboured under • great delusion if they supposed that a reduction in the hours of labour would not lead to a reduction in the amount of wages also. Firmly believing that this question could never be satisfactsrily settled by legislation so long as the working classes were I exposed to periodical distress, and the con sequent discontent which such a state of circumstances must originate, he should con clude by moving that the bill be committed Oust day six months. Mr. Beeetre, being of opinion that the operatives, as a body, were anxious for the success of the bill, and knowing that the eleven hoar system, when it had been tried, had worked well, should support the original motion. Mr. WARD, after adverting to the decisions, and counter-decisions which had been arrived at in the last session, with respect to a similar bill to the present, said the ques tion was, could they pass this bill without reducing wages? He firmly believed they could not, rind, further, that there was not a working man who desired a ten hours bill with such a result. Looking to the difficulties by which the subject was eurround4 —dear cotton, dear food, a great calamity in Ireland spreading its influence over other parts of the world, with an influx of fresh labour pouring in upon the country,—these circumstances confirmed him in the opinion that the present period was moat unpropi tious for attempting by enactment to limit the hours of labour, and, being in favour of delay, he should vote for the amendment. Mr. BROTHERTOB could, of his own knowledge, say that the operatives gene rally were in favour of the measure. Parlia ment had already legislated to protect chil dren, and it most now interfere for the pro tection of females. When a boy he knew by experience what it was to be a factory worker, and had then formed the resolution, if ever he should have the power, to use his utmost endeavours to bring about a diminution of the hours of labour for women and children in factories. The reduction of the cotton-tax alone would more than compensate the masters for any decreased production consequent on each diminution, and believing the measure would prove advantsgcoua to all parties he should give it his cordial and hearty support. Sir J. GRAHAM con sidered the statement of Mr. Brotherton, that he had administered with his own hands to his own wan% did him the highest honour, affording, as it did, 114 most convincing proof that from the very; humblest classes of the community gentlemen might rise to the highest importance and influence, by the exercise of honest industry and unblemished integrity ; and the hon. gentleman was, in his own person, a striking example of the principle, that, by the careful employ ment of time in the branch of labour under discussion, the most useful and honourable acquirements were compatible with long hours of labour. The right hon. baronet then proceeded to take a comprehensive Aar of the whole question, concluding his observa tions by stating that the measure would operate as a tax upon machinery and upon wages; would limit the earnings of industry ; and, if extended to all trades, prove an intolerable barthen : entertain ing these 'dews, he felt compelled to vote against its further progress. Sir G. GREY replied to the argil , meats of the last speaker, observing, in condemn:a, that in committee he should vote for an eleven hours clause ; but, if that should be rejected and the tea hours clause affirmed, he should still consider it to be his duty to give his cordial support to the remaining stages of the bill. Lord Menrcrx should also vote for an eleven hours clause, bat could net say, if that were defeated, that he should support one for ten. Re presenting, as be did, a constituency deeply interested in factory labour, he weald not support any measure which he believed would interfere with their pros perity; but, thinking the ehange to eleven hoar' would not have that effect, he was prepared to vote for going into committee. Lord G. Sewn:Tree supported the bilL Mr. M. Gin4eie, in the course of a speceli of some length, asked, if this principle was to be applied to the manufacturing artisan, why it was not to be extended to the agricultural labourer, to nurses in hospitals, and to washerisomea, concluding his obeervations by stating, that, in return for a reduction of the hours of labour, the promoters of the measure had not offered anything which was tangible, nothing which practical men could accept; and therefore he felt it to be his duty to oppose it. Lord EBRINOTON intimated that in com mittee he should move a clause enacting that the in spectors of factories should be medical men. Sir ROBERT PEEL rid he expected to be in a minority on the present occasion ; and was therefore desirous to record under adverse circumstances his continued objection to all interference with factory labour. The effect of the bill must be to seduce wages, which would operate neither taws oar kw than as an income-tax on the admit labourer. Believing as he did that the bill, if carried. would endanger and dissipate the resources of the country ; cripple the energies and interfere with the comforts of the working dames, to whom he wee under special obligations; he should reconcile himself by endeavouring to promote their interests, although he might offend them in so doing, by voting against the committal of the bilL—The house having divided, the motion for going into committee was carried by a majority of 90, bat, u six o'clock had arrived when the numbers were declared, the house, as a matter of course, was adjourned, without proceeding further. We are told by the learned of the present day that the science of political economy and the science of government are two distinct and opposite things— one for show and syllogism, the other as an every day practical rule of conduct. One serves to preach about, the other to act upon ; one to look wise with, the other to enable ua to observe prudence and common sense. In foreign policy there are two sciences, the eso teric and exoteric, of pretty much the same kind. The one is founded on justice and philanthropy, the rights of man, the independence of nations, on words and things, huge, and respectable, and old as the Chancellor's woolsack. Bat statesmen prefer resting on the first easy chair. Now, being an enemy Ito humbug of all kinds, we would kick out of all discussion and respect that political economy which it is the pleasure of every editor to indite, and the duty of every government to neglect. In foreign policy we should also eschew mere wordy philanthropy at a time when no rational mortal thinks of founding a single act upon those bursts of feeling, however elo quent and indignant We feel all the cogency of Lord FraWlLLleses logic, the superabundance of Lord BEAUMONT'S liberal sympathies, the legal terseness and lucid arguments of Mr. Merrnsw HlLL—all employed in showing the infamy of Cracow's absorption. But the facts admitted, what then ? Will you go to war for Crsoow ? Nay, would you have gone to war for Cracow in 1814, when England, Fiance, and Austria leagued to protect Poland? No—you would not venture it then, with three Powers against two. How can you do so now, with one power (England) misname the trust wttion undertake, shall I who had not only to take care of but to manage (our rail-" L "' V" . `" would co nc l u d e brieciarbilithat ht7attaciei leagneo to protect rouunt r o un tkceeeci PamA in ettabliain a claim on the confidence sad good- lions of property ? (Hear, hear,) He felt hintsell in the England, has adopted a means to stimulate the PM*. Portant* to the elevation of tk e w orking clams*, and he not venture it then, with three Powers against two. named, ;n o atiTed thTlandawn - esca pe the former " 1440 itsinet going into committee on this question, not be- How can you do so now, with one power (England) decision and establish the present system of entails. will o f the wh9le situation of a senior partner, who was Witted to a larger to Lho cakflitien et the WW I which it world be Wei 4 THE EXPRESS, THURSDAY EVENING, MARCH 4, 1847. against the three absolutist courts, and France' alternating between false friendship and open enmity One plain fact dominates our foreign policy at present; and this is, that we cannot quarrel at the same time with France and with Russia. To this it is replied most often, let us be friends with France and defy Russia. Before wo try this it would be well to ascertain whether this is possible, or reliable. We have been dupes of France in one alliance, that re specting Spain. Should this encourage us to enter into another alliance with respect to Russia, in which, was England to be deceived or sacrificed, the result would not be merely insult and mortification, but total de struction ? Those who propose to us that bold game must know, that in so playing we stake exislence and empire. The question, therefore, is, at this moment espe cially, not one for dilettanti. It may, indeed, make a very pretty libretto for amateur performers to sing from. For our part, we have no objection to attend and applaud. The music is excellent, the sentiment generous and touching, the moral irreproachable, the corps is one of unrivalled brilliancy and talent; but, in this season of public distress and curtailed rents, we cannot afford a box for the season. Besides, there is not time: we have relief committees, and sanitory meetings, and mechanics institutes, and ragged schools, washing•house and lodging-house establish ments for the poor. Where are the time and the money for a Polish opera? Yet we do not yield to any one in anxious desires for the restoration of Poland, for the rehabilitation of the Selavonic race, and fur the establishment of an em re in which that race shall predominate and ders ltrj! itself. That this must take place, we fet - .1 ; con in It is in the nature and the ft,': al of things, in the growing er:aglitennient of nations , and of the thirst for independence which grows with it. But, whilst foreseeing and desiring that great consumma tion, we feel, what we have long since declared, that the restoration of Poland cannot be effected by the arms, or alliances, or conquests of the west. It is but just to protest: it is wise and generous to protect the existence, cherish the hopes, and honour the 'Silt of that great body of the Poles in exile. But it more than idle to fill either them or ourselves with inflated expectations of our arms or our threats being able to withdraw their country from the gripe of the three eagles of three puissant empires, all of whose talons are foxed in the heart of Poland. The government has done its duty. It has sent a dignified protest against the absorption of Cracow. Mr. HUME would have us go further, and enter upon a diplomatic war with Russia, based on the principle that all the stipulations of the treaty of Vienna are broken, and that some 100,0001. paid annually by England under that treaty to Russia must be withheld, Now, let us consider a case, in which the treaty of Vienna was more flagrantly broken than in the case of Cracow, although it was broken for liberal and popular advantage. This was the separation of Hol land and Belgium. The absorption of Cracow could not be more displeasing to England and France, than the severance of Belgium from Holland was to Russia. That severance was completed by the armies of France, and the countenance of England. Ituasia looked on in anger •, bat the Emperor saw, as we ought to see, that there was no dignified or politic medium between war and acquiescence. He there fore acquiesced in a signal breach of the treaty of Vienna by the events and the powers of the west, and that breach was thereby sealed up. Now, with respect to Cracow, is it not better to follow the example of Russian policy? If we think war advisable, and likely to attain the end of Polish independence, let us declare it. Or if continued remonstrance, diplomatic bickerings,' and a refusal to execute on our part the remaining stipulations of the Treaty of Vienna, be likely to lead to any good end, let that course be adopted. But to vent spleen, for the mere sake of venting spleen, would be puerile ; whilst to quarrel with Russia, Austria, and Prussia, at a mo ment when we can scarcely preserve the form of i diplomatic intercourse with France, is, if it be any thing more than empty words, atter insanity. Some of the anomalies, in relation to land, which exist in this country are most striking. A commer cial people, whose enterprises eminently require the most free disposal of all kinds of property, find all the landed property of the nation fettered by bastard feudalism, and a system of practical entails which, effectually puts such property out of the sphere of commerce. And, as a secondary effect of the same came, our soil is not half cultivated. Net only Ile there vast tracts of improvable land now lying Aso. late wastes, bat three fourths of the land usually eca sidered to be in cultivation does net produce one half the food for man and beast, which, with very mode rately good farming, it might be made irs do. While we have laud demanding only steady quietus of capi tal, farmers willing, nay maims, is improve their fortanes by rural enterprise and capitalists ready to second that enterprise by the supply of the needful, capital ; and wlsile the popalatiise is every day press ing more and more closely on the means of subsie-1 tome, there are the haughty and ignorant prejudices of the landowners interposed between the people - an! ' abundance both of food and of employ. We hear, occasionally, various sentimental whia ings by landed gentry over the conditioa of the work ing population ; and interference with wages is soma cases, and potato patches or some other quaskery in others, are advocated as nostrums. Bat let; any man of reflecting mind, possessing the eye of a farmer, go through rural England—let him tee' our peasantry—a peasantry more energetic than any in the world—pining on 7a., 9a, or 10s. a week, whi le the land requires nothing but the " might that slum• bets in the peasant's arm." aided by the capital tenant farmers are willing to bestow had they secure sod rational leases, to become doubly and trebly produc tive ; and then let him remember that it is the absurd selfishness of the body of landed proprietors which alone necessitates the continuance of this moral and physical wilderness. Will he not set down their sentimental professions of zeal for the welfare of the working classes as something worse than error ? And here let ns remark. in passing, that the most ardent advocates of factory bills, and such restrictions on manufacturing labour, found in the ranks of the land owners, are those who come from districts which exhibit most strikingly the effect of the landed system. Lord ASHLEY, the ten-hours agitation leader, is from Dersetehire, and his family estates afford the worst specimea of the worst cultivated county in England. It is, however, only a question of degree, for the bad pre-emineeee of Dorsetahire husbandry is rather acci dental; three-fourths of the land in England, situation and opportunities considered, being as disgracefully ill cultivated as Dorsetahire. Now, the root of these evils is the system which permits land to be entailed on an unborn generation ; and this, as we remarked on a former occasion, is no less foreign to the principles of our law than it is to the genius of our industrious people. It is true that our lairgirers have been ever desirous to fetter the , disposal of land, and to retain from age to age that feudalism which the judges, more true to the in terests of the community, have, from the earliest pe riods, endeavoured to counteract. And a moderate attention to our nation's history will make this per fectly intelligible. The fetters and trammels were imposed by the Norman conquerors ; the industrial energy which has striven to defeat or evade such trammels has been, and is, Anglo-Saxon. Until a comparatively modem period our legislators have re presented the Norman, oar judges the Anglo-Saxon race. Hence has arisen mach of the complication and difficulty of our law of real property. We shall not carry back our readers into the learning of early entails, or show how the judges, by holding that when the possessor of an entailed estate had com plied with the condition of having issue, he became master of the property • or how the ' legislature met that by direct e nactment- We shall simply remind them that by a resolution laid down by the judges in SHELLEY'S case, where property was given, in the then usual form, to a man for life, with remainder to his heirs, or to the heirs of his body, or his issue, such words were to be deemed words of limitation and not words of purchase. The effect was to make the tenant for life, by force of the superadded limitation, tenant in fee or in tail as the case might be ; as a tenant in tail could, by means of a ficti tious suit (invented by the judges to bar entails), acquire the absolute ownership, this had the practical operation of destroying entails. Then the limitations were altered from the " heir," or " heir of the body " to the "first sou," or the "children," and these words being deemed words of purchase, that is implying a direct gift to "sons" or "children," as persons named, enabled the landowners to escape the former decision and establish the present system of entails. Yet it is now a legal maxim that " the law abhors a perpetuity ;" and, by force of judicial decision alone, the law is firmly established that land cannot be settled on mote than one unborn generation. If more is attempted, the whole is void. But the permission to settle property on one unborn generation, has practically nearly all the evils of unlimited power to entail. Nothing can be done by way of settlement on a mar riage to secure to the unborn children of that marriage the succession to the property, and, at the same time, prevent such unborn children disposing of the pro perty when they shall succeed to it. And such chil dren, or, in the more common case, such eldest son, by steadily refusing to deal with the property during the parent's lifetime, must, if surviving the parent, `be entitled to the absolute ownership. But, in fact, there are various motives which induce eldest eons, as soon as they come of age, to concur with their fathers in resettling the estate, to render it inalienable for another unborn generation ; and so, from age to age, unless some accidental circumstance happens, the estate continues in settlement, producing the least possible benefit to its possessors or the public. No imaginable advantage is gained to any one, but a morbid gratifi cation of family pride or individual vanity. For persons, who have themselves acquired great wealth, are often as anxious to perpetuate their name, and to found a family, as the descendant of a long line of ancestral landowners is to perpetuate his family. Of this, the Thellusson case affords a remarkable example, and it produced an act of par liament, in accordance with the true spirit of our law, to limit the period during which property may be accumulated. What is now required is the applica tion or the same principle to entails. The will of PETER THELLUSSON, a man who made a great deal of money by buying up the jewels of the distressed French emigrants at the time of the revolution, limited his property, so that the income should be ac oumulated for so long a time as by law property could be rendered inalienable; that is, for any number of lives in being, and until some one then unborn child should attain twenty-one. The method he adopted was to direct accumulation during the lives of all his children and grandchildren, and of such of his grand children who might be born during his own life, and after the death of the survivor of all those persons, to convey the property in portions to the eldest male lineal descendants of his sons ; and in order to pre vent the accumulation being stopped, he gave the property ultimately, in case of failure of issue of his sons, to the crown. This case was contested ; but the right to direct accumulation during the same time for which property can be settled, was established to be valid in law.' The result, however, was, that the evils of thus tying up property to accumulate became so apparent, that an Act of Parliament (39 & 40 Geo. 3, c. 98) was passed, which expressly forbade accumulation for anylonger period than the life of the person making the settlement, and the term of twenty one years from his death. As a proof of the length of time be which, under the law, property may still be settled, though not now accumulated, we may mention that this man, TuaLLussos, died in J uly, 1797, and that the first person who is to enjoy th e property under the will is now an infant. N , Ar th e entailment of property, to a great extent, O wes it out of the reach of enjoyment, and renders it deem paratively little utility to the community ; ari d diff ers in degree only from the settlement for l. - ecesssulation. Now it has been wisely thought fit to 'Aerfere to pre- vent such an excessive accumulation as is obviously' , mischievous; and why should not ti. te evil of eti t A i& be dealt with in the same way ? We Crust that tie propertym wftli nt t ly his ap r k Tiesti inted on re b il oldl w te"lllah eier it dues or deal the public injury from eritin' A is 'nuking deep ins• presmon upon the mind of ,b e eeetTeueity. The Paris journals one. the Paris talk of Tuesday were all about the Guiz• R Nomnanby reconciliation. We can venture to affirm that most of the state ments which have br an circulated respecting the in tended ottion of the Ottoman Porte against the re gency of rediTans are 'inaccurate. A note has been lately sent by Prince Mel.ternialt to Count d'Appony, acopy of which has been delivered to M. Ouizot, in which the cabinet of Vienna declares that if any offensive mea sures should be taken by the Porte against Tunis, and that there should thence result a misunderstanding be tween these towers which are disposed to protect the regency on the one hand, and England and the Otto' man government on the other, Austria would employ every means in her power to prevent a collision from taking place, leading, as it might do, to a disturbance of the peace of Europe, and the embroilment of two great nations who should be instrumental in its main tens:sloe. The note contains the further assurance that Austria will offer her mediation in any difference • that may arise between England and France. We have been further assured that the reported mpedition from Constantinople will not be undertaken. The report that the Prince de Joinville has de parted to Toulon to sail for Tunis is unfounded ; the object of the prince is to make the cruise which he usually does at this season of the year. The journals and correspondence of Madrid of the 25th ult., were received in Paris on Tuesday. Queen Christina was expected to quit Madrid for Paris on the Bth. El Clamor Publico statee, on the information of persons connected with the royal household, that one of the objects of the Queen mother in visiting Paris, is to be present at the acemAchemcni of the Duchess of Montpenaier, which is expected to take place at the end of June. The debate on the address was continued without I interest in the Chamber. Advice. continued to be received of Carlist demon strations. The town of Guysona was surprised on the evening of the 16th, by a Carlist band. The gar rison were forced to surrender their arms; the town remaining in the possession of the insurgents from one until four in the afternoon. The susceptibility of the Madrid cabinet respecting the sentiments supposed to be entertained by Eng land in regard to the struggle now taking place in the Peninsula, may be perceived from the following paragraph, taken from the Heraldo, of the 23th ult., a journal which is well known to be the organ of the government: If England wishes ito preserve the legitimate influence which she still exercises is Spain and Portugal, if she wishes to turn that influence to account, if she wishes the two na tions of the Peninsula is feel towards her that gratitude with which she formerly inspired them, it will be necessary to dissipate every suspicion of her good faith, to western us that the British government is incapable of over. turning the established order of things, and of giviag support to retrograde ideas now abhorred throughost the Peninsula.. England must not forget that she has to deal with two nations whew very reverses have yen. dared them more jealous of their independents, who are prepared to defend id at every risk, sad who would seek sup port elsewhere if that power turned against diem. She must not forget the discontent that wee felt in the country at the words pronounced by a foreign tribune, sad which seemed to menace us that the claims of a pretender would find support. If England Aloes not wish to lee the last trace" of her influence 'snob from the Peninsula—if *beldam' not wish to see our ports closed against her mercantile reduc tions—darn dues not wish to hear curses uttered against her name, from the Pyrenees to Lisbon, she must cease to en courage, by her mictivity, the losensate projects of the enemies of the thrones of Isabella 11. and of Donna Maria." Zbe <Spurt. Her Majesty will hold a Privy Council on Tues day next, the flth inst., at Osborne House, Isle of Wight. ANSWER or H. R. H. THE PRINCE ALBERT TO TEE SENATE or CANDRIEOII.—. Mr. Vice-Chancellor and gentlemen of the Senata,—l thank you for the kind terms in which you have apprised we of the result of the recent election for the Chancellor,hip of the University of Cam bridge. I need scarcely observe, after so recent and public • deelarativn of my sentiments and feeling. with regard to my nomination so a candidate for that office, that the pro ceedings which have subsequently taken place have been entirely without my sanction and privity. The intention to propose me as a candidate was not known to me until a pe riod when the time for the election was at band ; and when the arrangements for ascertaining the muse of the University were already completed, I could only have suspended their program by a peremptory declaration, that under no eireurastrusees would 1 consent, if elected, to accept the office of diesueller ; and such • declaration I did not deem it respeedal ft the University to make. The election has now tenants& and a majority of the University, including a very greettaesaber of its mem ben most eminent for their servile, le the Charch, to the University, and to the cause of literature mad science, declared in hvour of my appointment to the vacant office. It is incum bent therefore on me to notify without delay the course which under these circumstances I shall pursue—l have re solved to accept the trust which the University is willing to coefide to me. In forming this decision I have been in fluenced by a respectful deference to the wishes of a majority of its members, by a great unwillingness to involve the University in the probable necessity of another contest ; but, above all, by an earnest hope that through a melons and impartial discharge of the trust which I undertake, I shall succeed in establishing a claim on the confidence and good will of else whole seadmicil body . LONDON AND WESTMINSTER BANK. The annual meeting of the shareholders in this bank was held yesterday at the company's banking-house, Lothbury, and was very nutneroucly attended. David Salo mons, EN., the chairman of the bosrJ of directors, pre sided. The business opened by reading the report. It stated that the net profits of the past year amount to 74,1751 15s. 9d., after payment of the income tax. Oat of these profits the directors paid, lest September.% dividend of Sit per cent. per annum for the halt year ending June 30, and they now declare a dividend, at the same rate, for the half-rear ending Dec. 31. They also declare a bonus of 8.. per share, or two per cent. on the capital, After these payments, there will remain a surplus of 10,175/. 15s. 9d. to be added to the reserved fund, which will then amount to 98,4241. 12s. Id. The directors eonsid red that the time had now arrived for disttibutieg the ten thousand unappropriated shares. They accordingly determined to issue them to the present preprietors at par, in the proportion of one to every four shares already held. The paid-up capital of the bank wall then be 1,000,0001., and the subscribed capital 5,000,0001. With the extended business and capital of the bank, it is desirable that there should be an increase Is the *umber of the directors. It will therefore be proposed to the present meting to appoint two additional members of the board. The vacancy caused by the lamented death of one of the directors. P. kf Stewart, Req., it was proposed should be sup plied by the election of T. Walker, Iloq. The CHAIRMAN then said, had the directors felt inclined to ge into business, nut even of a hazardous character, but involving somewhat more of rink than that to which they were in the habit of giving their attention, they might have been able to present a much Urger sum for division than 74,175!. That sum, on a capital of 600,0001., was equal to an interest of nine per cent. Under those circum stances, it had been thought expedient to deviate from the course hitherto pursued, of applying the whole sum beyond 6 per cent. to the reserved feud, thihking it an occa sion on which they might well offer a participation in those earnings to the proprietors. They still adhered to the see and sound principle of having a large reserved fund, which was now but a trifle short of 100,0001. (Hear.) This large nun had solely arisen from the legitimate transactions of the bank; it contained little or nothing extraneous; with the exception of 10010 trifling sums in the shape of premiums on share*, • saving of 100,0001. had been made out of the legitimate earnings of the bank. This had been done from • desire to act prudently. Last year, many proprietors thought that the sum of nearly 20,0001. then carried to the reserved fund might have been fairly divided ; but the directors thought it better net to be led away by the momen tary eclat of dividing a larger per tentage, wishing to have • large sum to fall back upon, in the event of any unforeseen reverse, without at all impairing the capital of the esta blishment. Of any such reverer, he did not believe there was the alighteet meltability ; he was confident that the same management which, in their earlier days, had steered them clear of difficulties, would continue to do the same, and that, in future, they might have the pleasure of dividing the same sum as a bonus, and at the same time keeping up the reserved fund. (Hear.) It was the original intention that the capital of this establishment should be five millions sterling ; they began with one million, 500,0001. being paid up ; and they gradually , increased it by calling the new shares into activity at inter vals. In 1836 they had carried their capital e, 600,0001, at which sum it rested till 1841, when 10,000 more share% were issued, bringing the capital up to 8000001. Now; they proceeded to put the apex to the pyiamel i , b e i ng featured that the bile war sufficiently broad, b 1 issuing other 10,000 shares; thus carrying their capite:. to the full amount of five millions, with one million paid up. (Hear.) They had acted thus cautiously from a deolre not to issue those shares until they were fully convinced 'Jut theirrevenue was nut liable to fluctuation under ordir Ary circumstances, and that there was • certainty of the. increased dividend being paid upon the larger capital *with eis much ease as upon the smaller. They believed '.sat the period had now armed when they could pay 'lx per cent. on the full amount ; they, therefore, proposed to divide the shares at par among their subscriber!, all ow ing them to subscribe this 200,0001 , which would probably be worth in toe market a profit of nearly 50 per cent. (Hear.) There was now an ample field foe the employm at of capital. There had been Isamu changes, alternations of scarcity and abundance, in the money market during the existence of this establishment ; but, amidst all these charges they had been able tes hold their own, and to pay a dividend of six per cent. Another change was impending, and in all probability there would be a great demand for banking capital during the next few years - . still he anticipated no such difficulties as had occurred I in 1842 and 1813, the trade and monetary transactions of the country bring now on a sound basis; but there would be an ample field for the employment of the increased espial now asked for, to the adnentage both of the shareholders and of those to whom accommodation wet granted when demanded upon fair and legitimate grounds. The proposed increase of the directors was rendered necessary by the great amount of capital which they had to take care of. The simple care of the property involved great responsibility; the safe and proper employment of it still more so; and, with a dilly increasing buskins, the directors had thought it right to recommend that the board should be strengthened by the evidition of two members. Without wishing to exercise any objecti noble selection, they recommended the two gentle men named in the report, as merchants of eminence, and well acquainted with the trade of the country. The chair man concluded by reading a resolution to the effect that the new shares should be offered to those proprietors who stood registered in the books of the bank on the 15th inst., in the proportion of one new share for every four shares which they head ; that the shares should he issued at par, via. 201. each, and that the payment+ should he 71. per share on 15th April, 6/. per Blare on 10th July, and 7!. per share on 15th October. The chairman added, that the new shares would be issued to all persons who eked registered in the company's books on the 15th February. Mr. Tire asked what was the amount which the directen proposed tl:c reserved fund should attain ? tic thought 100,0001. rather a large 'sum for a bank of this capital. (No, no.) He feared that, by carrying so large a sum as 20,0001. to the reserved fund this year, they might bajem the next year's dividend en the increased capital. Ho approved of the increase of the directors, and wished to know whether they could be carried beyond fifteen. He thought the directors had exercised a sound discretion in giving the proposed bonus to the shareholder; but he would not advise them to be so very anxious about increasing the reserved fund. The CHAIRYAN said that the directors and himself looked upon the shares in this bank decidedly as • oil per cent. stock, and they were extremely anxious to do nothing that eould affect this amount of dividend. It had been their wish to let • few years pass over before malting a permanent addition to the dividend ; and on this ground they now declared a bonus, to show that the increase was contingent. He did not say that circumstances would pee. vent a similar bonus next year; but he was anxious to avoid creating any expectation that such would be the moo. As to the proposed amount of the reserved fund, he would merely say that the directors had no anxiety to starve the preseat generation for the sake of then posterity— (laughter)—stall they were bound to guard against the acci dents, to which all human institutions were liable. The number of director might beinereased to 24, hut the board considered that 15 would be imply eufficient for the man agement of the business. Mr. Wtemaw asked whether the directors thought that, after the issue of the 10,000 additional shares, they would be able to pay the same amount of dindeud, and also a bonus. He wished to know whether there was any pros- pect of the, and the other joint-stock banks of the metropo lie being admitted to the advantages of the ci.anng-house also, whether the number of accounts at the bank had increased. The Citamiaow, in answer to the first question, repeated what he had already stated as to the probability of the dividend being kept up, that they regarded the bank as a six per cent. stock : and if monetary affairs went on well during the year, of which the shareholders themselves could judge, they might reasonably expect some bonus next year. The state of the hank's business was good ; they had every reason to be mailed with the accounts brought to them, and he hoped theft who had accounts with the bank were equally annelid with the prudence of the directors. (Hear.) During the year, no steps had been taken with regard to the clearing-hoar Sthe directors had thought it better to go on quietly and mutably with all their neighbours. Mr. Manneure wen 11113110 US that the reserved fond should sot be touched ; he would be better satisfied with a dividend of five per cent. then with one if six per cent., if the re served fund had to be drawn upon. (Hear.) He suggested the propriety of a decks' fund being established (or the clerks in the bank, r was done in some other eetabliah menu, in order that they might be taken care of in sickness and older. The CNAISMAN said the question of the amount of reserve might safely be left in the hands of the board. (Hear, hear.) As to the clerks, the directors had, last year, in con sideration of their large profits, added ten per cent. as a bonus to the clerks' salaries, ; and the same had been done this year. (Hear, hear.) With the abundant opportunities which young men now had of making the beat of their aaviage, that matter might safely be kft to themselves. Mr. Baowir *eked if those sharekokiers whose number of shares was not divisible by four would receive • propor tionate number of new shares; which the chairman turreted in the sfilrmative, stating that in such was the shareholders would remise an equivalent in money for the half or quarter shares. The report was then unanimously adopted, as were resolution's confinnino the election of Mr. JoshrsaWalker as a director, No-electing Mr. Thos. Farneomb, Mr. 1). Salmons, and Mr. H. Bosanquet, and appointing, as additional directors, Mr. Henry Buckle and Mr. John 8. Cattley. Mr. Kewanema said he had, loot year, proposed an in crease in the remuneration to the directors; and it had only been opposed by their late chairman. He wished sow to renew hr proposition. In anothersimilareigniiiimar. the directors had 5,0001.—A Shareholder Whine T—M. Km- . . shaid: In the 'London Joint Stock Bank,—lnerdieklar: It's a great shams. (Laughter.)—Mr. Karim mkt est in another establishment which only divided about 16,0001. the directors had 2,000!. He would propose that the thanks ' of the shareholders be presented to the directors, and that, in future, a sum of 3001. a year be allowed to each of the fifteen directors. (Hear, and cries of " Too much.") Sir C. Boannu. seconded the motion, and said that the shareholders could not do better than show their gratitude to the directors, which would be an incentive to future good management. Mr. M•UDIILIT said that many of the directors,' pro- bably, never attended at all, and it would net be right for them to receive their 3001. He would suggest that 3,000/. should be allowed, to be divided by the directors amongst themselves. The CRAIIIXAM said he would frankly state that the sum of 2,3001. was quite inadequate for the direction of the bank, which involved mush greater responsibility than either an insurance or a railway tromp/my. What was due to persons who had not only to take care of but to money four mil lions of property ? (Hear, hear.) He felt himself in the sitution of a make wiser, who wM ntittid 10 e WPC