The Sun. — London, England, 1802-06-04 00:00:00

• , tak e off 'faxes, weia'iltt, be I 8-68 ; and, if the 3 Per Cents. were at 9e, 13a,0001. would be the annual , lu ni lo'be ta k en o ff in Taxes. Now it 'Was- to be ' l e ° l le ft ed latafic. , Committee, . tlett by .the present t` an, at th i1 ," 1 ,,,i,a, the P u bli c will have h a d t h e "fit of avoiding the oharge aro-1ually•of 900,0001. i t'd th e i nterest of 4,z00;0001- would be applicable Etn a' year to'vear for the reduftion of the Debt; a nts to take cff Taxes in 1808, the suM of 5t 2,00°1. Spa the sum of t,coo,ocol - . that would fall in by the 4art Annuities, would be applicable, as he bad al.- tea dY stated. In r 808, under the old System, It a eo -aoool. supposing the 3 per Cents to be at par, ; ° 4l be annually paid in the course of /2 years— u2,, times 120 ' 000 l; would be the amount Of relief °r , led to the Subjtft in Taxes previous-to the year 8 8 i4; the whole purchase of which would be about e c*ioatal. What wou ld , b e the effeft in the other 'e.? The Publi c , i nstea d o f being r eliev e d 12 times 120,600 i. would be relieved to the ex. Ltr of 3, - 000,0001. ; that is, they will have paid 'e 40,00a,0001. less in Taxes than they would -47 e been liable to in the other case. He now !411 _,'e to the s trong poi n t of o bj e ftio n which was I ) ;9 4 ne to thi s p l an, an d w hi c h h a d b een state d b y 4 1 ', 80 0. Friend, and he was accurate as to tim e n " sums; there would be an interval in which the t.tiantity of unredeemed Stock would be greater by l ' it measure now . proposed than it would - by the d i lu ent now i n force.--Here he proceeded through e ' S tatement of the Calculations Number 2, of the e,,, `' n ted papers, s t at i ng h ow t h e unre d eeme d S toc k ' ,, ** ° °4lStand at different periods ; sliming, amongst e tn er thi ngs ; t h at su pp o si ng t h e ' 3 per C ents at igi and the 4 and s at par, &c. the difference in e mass of unredeemed Stock wider the two plans 1 1 -n etheyear 1 8 25 , w ill b e 2 6,6 00 ,a 00 1. To this he o a i n to p ropose this cons i derat i on (without repeating f', tu t's he h a d state d so o f ten already), and to which ofile attached great i mpo r tance , namely, the relief af_ o ili f t el-ed in th e ioterim, by not imposing die burden lif 9 Qclieraol. Taxes yearly, and - -the means afforded h e g rv 'ng relief by adually . taking Taxes off, which • °ad also stated already ; but let the Committee , e tc ,,Qed, that the p er i o d w h en t hi s diff erence wou ld s4t would not be long, and, as 'the amount of • ,: unredee m ed S toc k was greater at t h at per i o d, in a short time afterwards the present plan would t • utstaip the other, and then its progress would be '"de with accelerated velocity towards the total a: k e tin Oion of the -Debt, so as to leave behind.a t a 114 - distaa ce the plans of 1786 and of 1792. In ling this . and in taking the calculations upon the h t 'Plaasiti on of the 3 per Cents being at 75 ; he 14 ° Ped the Committee would not suppose that he was • It king the most favourable-posture of our probable - ,te of lii nance ; h e h a d certa i n l y h opes o f a muc h ;tore favourable condition for them.—He was fully a w are, as his H on . F r i en d h a d state d, h ow difficult w as to make arguments intelligible on such a sub le as this : h e h a d on l y to recap i tu l ate t h e su b. 44 nce of. what he had stated already on the subject, t'f this plan, the benefits of which were these, the mediate (-Wed of affording relief to the amount of ,°o ioool. annua lly, b?forbe ar i ng to l a y on Taxes ° that auriount.—LA further relief in tBoB to the ex 'srt''lt of Sr 2,0001. by the Short Annuities which ticliild then t a ll i n , an d a st ill f urt h er rel i ef when le S and 4 p er C ents s h a ll h ave b een redeemed 1 i n 18 08 the,plan otitaking:otT Taxes may corn. h f ce, at the •wili of Parliament, but which he ep . :d.would be continued to be carried to the re. of u 'crinn of the Debt ;-ararl, finally, that the whole laidhe present National Debt will have been off - much sooner by this new plan than t w ould have been' by the old - ores, both of 7136 and 1792. He had not concealed from the ii, nait nittee the objections to -which thi. ,, plan was ): Ib le ; he admitted them' as far as they went ; h u t Ite submitted to ahe Committee, that they were , 1 : 1 more than cote'iterbalanced by the advantages i t t ne measure. The effeet of this plan was, that et a "niti extinguish- the National Debt in a much r e '' Grt er period than by the former plan, and it af. Itrded relief f or t h e pa y ment o f 900 , 000 1. :F axes. ot afford e d means also f or supporting - t h e Finances io tits Country, in the event of its being eugaged a , V at', either for the security of its Possessions, 0 , the maintenance of its Honour. - It was for a e 'e nhjea.ts, th a t he su b m i tte d t hi s pl an f or t h e l i i e l ) ,oba t i on of the Committee, for the immediate re. t it wo uld afford in sparing 900,0b01. Taxes, for tiersbProvision it inade for the extinction of the whole till r, much sootier than . by the former plans—tenot. did he: me ant , t o say-- t h a t t hi s 'Pl an was ' o f a , f ro ere ot nature; o r f oun d e d , on diff erent p r i nc i p l es 1 4 1 1 those of 86 and 92, so far from . being so, it ten. , a measure groWmg out of these plans, and it f ot :ed to spew the wisdom in which they were p rec i l d cd ; and fiteie plans were not .only capable of tae• u ,cink all the advantages he had mentioned, and Sears we all 7hi'itl Witnessed within these - 8 or 9 , th e see in particular, but to these plana he imputed tl e „ sec urity we had found for every thing that was 4, - f t° "si especially our Constitution. li as ;i f. ' TniRNEY said, that whatever political te o t "ity had prevailed between himself and ,the au. e 4si r ° f the Sinking Fund, System, he had on all oc %tv ° ns given him the praise he deaerved far his per_ t li er ance in that measure. He was afraid the present T ti "cEet ma of the ExcliE4t7itt would not ac. I t, r e so much credit by hiS proposed alterations in - ta ro „ t' The pri nc i pa l argument advanced. for this al. • d e on wa s , t h at i t saves the laying on new litir- L,n_to provide for the one pe; Cent. on the Loan. ex7ll—W --Lca tecolleCted,, however,. thatethe_ chief tit ' rs ence of the plan adopted in 7792, over that • ta, e ?: s 7 , was, that it prevented any dangerous ac eiinulation of additional Debt, by constantly pro. ,L eti 2 a Fund for it 3 liquidation. A plan that ttie n lt ' s P i red so much confidence into the' monied arid which lea t erity4 442.441A1:4r . thq ,relief of pos- tugh t ' f "r'the-burd ens - -we- imposed- u po n the m , . tint not to he hastily abandoned. The dis- ' a / ate Pc'd effeets promised f rom t h e new pl an aa van uY no means to b e compa t e d w i t h the actual tb etv, t "ges of t h e old p actu al lan. He 'then p rocee d e d t o Of ten frotnseveral inst ances ,. t h at ca l cu l at i ons h a d • tioa s deceived us, and with regard to distant pe , Prove Iwere neaer to be trusted, unless we could te rven ,t_nat they were nit. to be affected by any in tat ey in g accidents or change of eirtinnstances.. b aeo st4posing the-new plan to operate as had, city , I Z e i ,`, l ,, kt i ti , i“):N. - coujd we imagine : that - poste_ . `l ne more p rov id ent - than ourselves- I If 'we refused to ,provide 000,0t6t. lot their far;ef ) would they allow 20 miliinns, the supposed pro 'dud of the new-plan. at ;a given' period, to he ap. ;plied to the extinction __debt, while they were :reduced to 'exigencies ? He contended ) that for the sake of o, or ratherabo,oool, we broke our pledged faith to the Public, 'the immediate corisequance of which would be, the distrust of the monied men, and :disadvantageous - terms on - all future Loans. He said he had never .paid more attention - to any measure than the present ; and he was fully don. viticed that it was most unwise in our_present cumstances ;. it was proclaiming to the world, that we could not bear an addition of 700,0b01. to our taxes. But this;present negative alleViation would never be acknowledged by the Public,' while the dreary vista of forty-one. years, without any further relief, would continually present a dreary prospect to them. The plea of necessity was indeed a strong one ; but instead of using it, advantages soere alledged in favour of the new plan. What these advantages were, he colild not at all perceive. The CHANCELLOR of the 11E(ATER said, the Hon. Gentleman (Mr. ERN Er) had bottomed his argument on the supposition that lie ( t h e CHAN CELLOR of the ExcHaottaa) had been driven to this measure by imperious necessity ; but he disclaimed any such motive, and he referred to the state of Public Credit at the present m oment ,' t o prove the absence of any such necessity. The Hon. Gentle man had asked, what adVantages they were to ex. pea from futbre Conti-116h far Loatis; if this mea sure was carried into effed? lie- looked forward future 'with the utmost confidence, a confi dence founded upon experience : let them only look at the late asttri, which was the subjea of exulta tion to the Country : he had' stated the ,present mea 'sure to the Contradors at the time of the Contract, whose Minds might be considered as made up to the benefits resulting from the Sinking. Fund, as it stood at present, and therefore adverse to, any al teration, particularly when that change was entirely new to them; yet notwithstanding this, the. terms of that Loan , were more beneficial than those of anyLoancontraded under circumstances more ad-, vantageous, and formed a 'subjed for the satisfac tion and exultation of the Country.; he therefore looked %vitli the utmost, confidence to the future, founded upon the experience.of the past. 'The Hon. Geutleman had said, they .had to look forward through a long dreary vista of forty years. He was glad that the Hon. Gentleman had founded this ob., servation, as he must found it, on the supposition that 'Stocks would he at par during that period, as it .must be perceived that, in proportion as the Stocks fell below par, so in proportion the - Hon. ,Gentleman's arguments must be weaketied. He would only observe, that the Country would be immediately relieved froM goo,000l; -or at least they must have been charged, and must be still, if this measure was not carried into effect, with additional sum of 870,0001. In iBoB, six years 'hence, there would be a relief of p 2,0601. more, whilst in that year, or the, next, there would he a further relief of 1,500,0001. by paying off the 4 and 5 per Cents. Has this any thing that ought to appal a mind so resolute as that of the Hon. Gen tleman The very idea of comparing the effects of the two Plans. he revolted at, as this was only to. ensure the efficacy of the old plan ; but he would observe, that there would arise from this plait, a relief of z,500,0001. in the year -180, whilst' from the old plan the first commencement of rolief at that period would lie only 120,0001. He had already said, that he hoped the :sums thus obtained would not be applied to the relief of the Country : he hoped that the, state of the Country would be such, that those sums might be applied to the increase of the Sinking Fund. He looked forvard to the wi's dona and fnrtitude of. Parliament for measures by which the Sinking Fund w6uld be reinforced so as to obviate, or at least-to diminish the f orce of the argument as to the quantity of unredeemed Debt, at one period more than another. Let it not he, supposed 'that the Sinking Fund could not be strengthened by fresh reinforcements. He asked this measure of Parliament at a time, when so far from sinking under burdens, those burdens were such at the present 'moment as not to create -the least uneasiness. He had beets compelled to propose a larger amount of permanent Taxes than had ever been proposed in any preceding Session of- Parlia ment, notwithstanding which, he had been enabled to propose a measure which relieved him from the necessity of adding one-tenth tothe public burdens. He had the greatest confidence in the future re sources of the :Country, which he conceived MIS measure peculiarly calculated to increase. • Mr. TIERNEY observed, that the s t 2,0001. which would fall in, in 1808, and the 1,56°,6061. arising from the redudion of the 4 and 5 per Cents. would have been equally available under the old plan ; the only sum which directly arose from time present plan was the stun of 870,0001. The Ria, , ht Hon. Gentleman (the CHANCELLOR of the EXCH E_ QUER) had spoken of increasing the Sinking Fund hereafter; how this was to he done he did not know : if the Right Hon. Gentleman conceived that it might be done by means of the surplus produce of Taxes, he thought the Right Hon. Gentleman was rather too sanguine in his expeaations. The CHANCELLOR Of the EXCHEQUER said, he was certainly sanguine enough to expett that the' ,Sinking Fund might hereafter be increased by means of the surplus produce of Taxes. Mr. THORNTON said, that to depart from the ancient system, for the purpose of adopting the present Measure, might perhaps tend to weaken . public credit, but certainly was in no degree a vio lotion of public faith. His objedion to the pre sent measure was rather of a political than of a financial nature. It seemed to him that we were . only postponing our difficulties, and though - we were only in a small degree postponing those difficulties, yet it seemed to him that we were postponing them to a period within which a War might probably arrive. His idea was, that, theya should provide for - those difficulties within the shortest 'period, in order that no new difficulty Might arise -in case at War should occur within a period not very distant. It seemed to him that the new system was less advantageous than - ihe old in that very period within which . aWar was most -likely to arise. If, however, as it appeared, there was a disposition on the part of the Howe to- re. in (time the Sinking Ft.l;l, much his ohjedion was dotleatneay,'arid.hewas eatremely glad to hear sornething-to thateffeCt from the Right Hon. Gell tieman, (the CHANC,ELLOR of the ExcitacasuEaj.— At the same time, the idea Of ir!Agip;- eery distant posterity and relieVing outselVes, wcei an idea very diff_leor t#i tha t . which had been hither'- tided npon. He would rather see rapid advanee's made in the course of a few year hence, thah a pldge given for futurity., He thought a large - Sinking Fund should be provided for, in the same,manoer as a Standing Army and Navy. 11r. BOYD said, that mach of what he meant to 'noise submitted to the CoMmittee, in reply to the observations of an Hon. Geotiemail opposite to him (Mr,, TlER.llfiy),, had been so ably antici pated by what had fallen from-the Right Honour able Gentleman on the floor (the CHANC EL.I.OR of the Ex EQUER), that he should not have occasion. to 'trouble. the Committee long on that' part of the sub jeet. One of the Hon. Geo' leman's observations re. fated to . the,effea upon the minds of monied men, which . the proposed consolidation of the Sinking Fund was calculated to produce. The recent in .stance Which had been stated by the Right' Hon. Gentleman, namely, the negotiation of the late loan, had indeed furnished a most striking example of that effeft. Not only2was the whole of the intend ed change in the Sinking Fund fairly disclosed to the ContraCtors before they concluded , the bargain, but an unprecedented circumstance in the financial history of the. Country was introduced into the con_ ditions, namely; the creation of a Deferred. Stock. NotWithstaoding all these circumstances, the conse quence, however, was, that the Loao was taken on terms the most advaotageous for the Public that perhaps ever were obtained: Government foresee- , ing the release of, certain Funds by the expiration of'. Annuities. in I (:)8, bargained for part of the Loan's hearing, interest only from that period, when - revenues, now otherwise engaged, Would be set free: • - This new species of Stock was taken at a price, in fair proportion with that of the other Stock. 4 great: part of what an kion. Gentleinan (Mr. ' Tir R.NEy), had said against the-present measure, turned upon the distant- period in which much of the proposed-plan would operate. He had never till now, heard tirat the Credit of the Country, or the. Faith of Parliament . was to ,be estimated by periods Of time : had never, understood, that there, existed in this Country such a spirit as led 'to occasion any difference in • point of con fidence, where,the Faith of. Parliament was pledg ed, whether it was confined to four years or forty years ; and the, whole 'financial transaaions of the Country warranted the, assertion. Had not many large, sums been borrowed on Long Annuities Of 7o and 4o years ? 'And had they. ever-been under estimated beaanse of their long duration ? No, Sir, the Public Credit of the Country has always fourid, and always will find its level, whatever the period of time may be in which that credit may have to Oise . - rate. There never was any- difference of conse quence between money now and money at a distant period, beyond that which fairly arise s from the In. . 1 terestlor the interval. An Han, Gentleman (Mr. Baaakas) has alluded to something like deception. having arisen from the terms Consolidated Sinking Fund." The-floe. Gentleman's own Mind is much too enlightened to suppose, for a moment ; that he can ever, have been exposed to such deception. If .there have been minds so superficial a nd light a s t o think that by the mere covsolidation of the two:Sink ing Funds, without any additional peczeniag power.r, any accession of strength was to be added, surely a mind such-as that of the Hon. Gentleman could not be one of them. Indeed, it-is hardly to be supposed, that any man could be the dupe of such deception, or that two separate sums of tool. could perform,either more or less than one.soni of 4.001. Not only no such deception has been praCtised ; but none cettainly . waS ever intended to be praClised by.thoae who brought forward the measure. The plan wanted no such shallow artifice to support it. It stands upon too solid and broad a basis to require such assistance.— Much has been said by an Hon. Gentleman (Mr. TiEftNEY) about the present measure being calcu lated to throw - upon 'posterity burthens which the present age shotild bear. This is not a correct state of, the case : it does not go to throw upon posterity burthens which the. present, day does not bear, It merely puts posterity upon the same footing with the present day. Not one single shilling will be borne by posterity, which the 'present day does. not bear. Instead of burthening t,le present age with an annual sum of 860,0001. in order that in - 8 or so or 20 years hence posterity may - be relieved of other burthens, it is the object of this Bill. to lay the-same burthens equally on both, until the whole debt be discharged. The question 'which the Committee has to decide uporn is, whether the Bill now on the Table,- does - all that it proposes to do ? Does this Bill really alleviate the present burthens of the People,' and at . the same time accelerate th e Redemption of the Public. Debt ? cc Having consi dered the subjea, (staid Mr. Boa)), with. great at tention, and with all imaginable .impartiality, I can from the bottom - of tny heart, and fullest approbation' of my judgment, declare that it does." Mr. BOYD then proceeded to examine the printed calculations which were in, the hands of Gentlemen. He seleCted the one which stwes. the 'progress of the Sinking Funds in the reduttion of the debt, on the supposition of Stocks being all at par. By this calculation, which was peCuliarly plain and simple, - an s i came' inure home to every Gentleman's Om prehension than more ahatrose and elaborate eaten_ lations could do, it appeared that the Debt would be paid off by the Consolidated' Sinking Fund in x 845 ;. but Gentlemen would find, upon revising the' .calculations, that there had slipped in an error, - doubtless altogether by a casual inadvertency, of tocnoook in the application of the food in 800(stated 6,91e , ,55,01, instead of 7,015,5501.) by whichnneans the peeitid of redemption which is. stated to take place in 18+5, aught to have been stated as more than effetied in I 844.: This error of rooooool. being ne cessarily repeated in every succeeding Sear amounts at the end of forty-five years .(whith,is the period to•which the attention of the Committee is called oh: this oceasion) to :7,282,720 and o therefore-it• will be -found, if the application of the Fond be carried. on- to the end 'of forty-five years, that ahe• Consolidated -Sinking. Fund would redeem 78 . ,8620++1, more than the present Sinking Fund, even v. ith -the one r ce.nt t th • t .per fl e sums 'ftiodedi Gentlemen may satisfy themselves upon the accuracy of • this statement, by try iug the pro_ gross of, the Fund echich is improved, upon this ,hypothesis,'et the rote of 3,30,5091. per Cent. Com. pound Interest, or about 3i. 6s, per eciit. Thus then,it appear. that there is ;to ;iddition . to the Sinking Fund .::of - 78,862,04+1. which, for a period of forty-five years, and ac the . sarne rate of 3,30,5091. is equal to an annual siren of ”,•;':ssjo. Instead,. therefore, of hae,ing riegkded iii e proeide I per' Cent. on - the 86,365,7601. last funded, it is evident that there has been ! iroiiided a -stun nearly: equal to '2 per. Cent.-" Gentlemen may indulge in melancholy - apprehensions ' and.. desponding piatires ; but in all this,• I, for my part (will e Mr. 'Born), can discover nothing kit soarces of sincere and •heart. felt Satiscadiott." But an Honourable Genileinan (Mr.: Tirotis•Er) sees no , thing but a dreary prospect of inci - easing distress in this Consolidation of the Sinking - Fuths. It may not be amiss to consider how the Country wo o l,' . stand ten years hence, should it then be again visited:, by the horrors of war. How would the account stand 'then ? Why, Sir, the Sinking Fund which is no~v 5;587,396i. about i-S7th part of the Debi:, would then (still upon the most unfavourable of all suppo:: sitions to the Sinking Fund, namely all 'at par) lie augmented to 7 ; 6 8,1751. I.eedi pair of the Debt which would then be existing; vi 424,019,1731. Thus there would be 64,96e483i. of our Debts paid Off, with a Sinkipg Fund, which, in 4 . 5 years from thence, would, at the same rare of Interest, redeem the whole Debt, and 27 5, - 980,82'e1.' more: Is this a dishearte n i n g •prospe'd ? this warrant gloomy fOrehodirigsl, and •all- thnF.4 melancholy apprehensions in . which the Honour::: able Gentleman (Mr. TiE R,Ntr) has 40 lih . erallY. indUlged ? I know - not; (said Mr. Born) how some minds maybe constituted; hut, as flit myself, I see nothing in the measure - before .the. Committee but matter of great and just satisfadion. It Las been stated, that Public Credit must have received great injury by the want of the r per Cent. on the R 6 Millions last. funded: The Hut:. Gentlernali trill readily acknowledp-,,ei that if that be the case, it will not - be stating that injury too high,• if it be supposed (merely by way of illuStration, and flat as Matter of opinion,' that. the_case is so); thatithe want of the i per Cent. On the £6 Millions may Oro:- duce a fall from par to 92 4.13, which is the next link iri the scale of•ca - lculations this were-to be 1: the case, the conseqUenee would, 'hoWevet, be a saving of 27 Millions - in the.course of 4.5 years.— This is mentioned merely to shew i that 'there• may be-cases, where,a greater Sioking:Fond doh not. necessarily ‘produce proPortionally greater pu l rchaseofstock. - Mr. I3or D .did not mean to say t,4at Ministers had it in contemplation to keep down the price of stock: He thought; on the don . trary, that every prineiple Of justice andlioimul- required „that nothing should be done by them to produce such an elf&I ; at the same time, when Ministers went to sell annuities, which was precisely what they did. when w'ent borrow money, this House :and the Country. certainly did expect that they were to-make the best possible bargain for the Country, and omit nothing within the nale ofitrin honourein order . to obtain their, end. if therefore, :they had even had it in contemplation to keep down the price of - Stocks from- rising' too rapidly upon them when they became buyers as Commissionersof the Sinking Fund, provided no breach of public faith was committed, nor any dishonourable or im. proper method lased to produce the effed, they certainly would be ,justified for doing so by every principle, and'even the nicest feeling of the most scrupulous himour. But no such idea is even supposed to have existed; only if so much' in_ jury has arisen from the ,want of the one per, cent. as the Honourable Gentleman states, it is at least agreeable to know that it has likewise its ad.:. vantages, over and above the convenience of avoiding a heavy Tax. • Mr. Born said, there were many other points into which he might go; but he should•nottreuble measure had Committee further than to say, th at t h e had his. most hearty and decided approbation.—He had admired it the first moment he heard of every subsequenteonsideratiOn had only increascd.his approbation. The hurthens of the Country for 'the public funded debt amount to 23,307,6331. ;. but of that sum 5,587,3971. consists•of the Sinking Funkl. This is a case aitogetherlinexampled, not only Oa the annals of this Country but of the world.. Not only are :all the positive indispensable engagements pundtrally e , provided for, but the Country voluntatily.chargel; • itself with one-third more, in order to discharge the capital of its debt. „ . Mr. N. VANSITTART observed - upon the ad. vantages - that would be derived from the present measure. There was - .one-point, -he observed, chat might be liable to objedien, as to the. large sum which would .eventually be placed in the hands of the Commissioners 'for the Reduction of the Na tional Debt;. and thrown upon the market ; 'but if this produced any-evils it must be left to futUre Parliaments to apply the remedy ; at' ,present they must not omit to apply Char remedy which sv'as in their' hands to an existing, Mr:".BANKEs, Mr. VANSITTAkT, and Mr. TIER, NEY, severally explained; atter which the Res,llu. cioni' were agreed to, 'and tjle House being restarted, the Report was ordered to be received on-Wednes day next. Mr. LET cH moved the second xeading of the Irish Election Bill. - ills. FOSTER wished the Hon. Gentleman would . postpqne the Motion, as there were several Gentle men who wished to deliver their sen►_iments upon ~that and who were not then present. Mr. LEIGH said the Session wa, Verytir n'aVan ced,and he had given notice to every Gentleman, Who had spoken to him upon the subject, - fiat it was his intention to Move the second reading of the . Bijl this day—he should, therefore, persist i n hi s tion. . , The 'House then divided, For the second reading Against it - Majority - 8 . The Order of the day being read for tziking into consideration the Report of the Police Lord WILLI 414 .RUSSELL proposed a Clause, :~~: ~:. ~h:..