The Sun. — London, England, 1859-07-22 00:00:00

THE SUN, LONDON, FRIDAY EVENING, JULY 22, 185 ii. [ . • MONEY MARKET AND CITY NEWS. 1 SHARE MARKET.-(THIS DAY.) BRITISH POSSESSIONS. * ' ____.4. _ _ORDINARY SHARES AND STOCKS. Share,' Railways. , Paid. Closing i Busbies CITY, Two o'CLoon. -„„ id. Closing Business I Price. Dons. The foreign and colonial produce markets during Share' Railways. - , Price. I Atlantic &St Lawrence ) I the last few days have exhibited rather more acts- - 100 all i 79 81 12.10 Amberg Nottin , Bost 1 •, • . •1 , Leased at 6 per cent. I Born., Baroda& Cent. Ind , I vity, and in several instances prices have shown I and Eastern Jupt , tion. 10 51 65 18 I 131 ! 161 17 50 13elfaq and Baliymena 1 all - - , gu. 5 percentJJ an improvement. The inquiries for : - .ea have been 13.14 itir., 'Wol., and Str. Val . .. all i 71 81 18 Do I all 1 - - steady, and prices continue exceedingly firm, par- Stock Birk., Lane., and Cliesh. i 18 ' Do. Addit. Capital A' 6 11 1 d Junction lOO 70 72 18 Do. Do. B 9 11 1 ticular]y for the better qualities of congou. 25 illackburn 25 Blyth and Tyne all - - 201 Do. New 165 6 7 d British Plantation sugar has been in good de- Stock Bristol and Exeter .... 100 94 98 100 f Buffalo,Brant.&Godrich / 100 mand, and the finer lities have slihtly Stock Caledonian - qua Stock Chester and Holyhead . 100 - - 100 Do. do. 1 July, 1873 100 - - g advanced. In the refined market a steady business 50 Cork and Bandon all --- - 190 Do. do. 1 June, 1874' • - - , 20 Cork, Blkrock,&Passage all - - 20 Clcutta.Bz S.Eastrn. Lim. 1. .1.0. 1 d 5 p has been transacted at fully late rates. For coffee 20 Cornwall all 41 51 20 Cape,Eastn. Prov.(Lim.) 2s. - 10 Do. A A rcves. no div - there has been an active inquiry at a slight advance 10 Do. B until6p.c.per an. all - - 20 Cape Town & Dock Scrip 2s. 15 1d [ all - - 20 Central' Oude (Limitea) 2s. 6d. - - on former terms. Rice has shown more buoyancy, hasbeen pd.toß. 20 Ceylon Guaranteed 6p.c. 71 - - - d 50 Dublin andßeltast Juno. all - - 17 4 (Demerara - the demand having been active for the superior 25 Dun.,Perth,& Abr.June. all 8 9 Stock East Anglian qualities. Fruit and spices have been dull, and the 100 141 151 Stock East Indian„cru. sp. c.. 100 98 99 9 85 i 8 Stock Eastern Counties lOO 585 591 585 20 Do. C Shares all - - public sales of indigo have proceeded steadily at Stock Eastern Union A Stock, 100 40 43 20 Do. 14 1 Shares Ext 5 - Stock Do. do. B Stock 100 28 30 20 Do. Jubbulpore - about the rates obtained at the commencement of 25 Do.Nw.A.(lte.E.U3ds)l 81 - - 100 D 0.41 p.c. Bds. pay.'s9 all s 99 - Toe 4 99 the series. Saltpetre has been in better demani 25 East Kent I a ll 13 15 14 20 Geelong& Mel.gua.s p. c. all 19 20 Stock East Lancashire ' 100 93 95 931 sto. f Geelong Corporation 6 1 100 - - and at a slight advance ; but tallow continues in- 20 East Suffolk all - - ( per cent. Bonds 10 Do , all - - Stock Grand Trunk ot'Canada 100 32 34 active both for present and future delivery. Stock Edinburg and Glasgow,' 100 ,72 '73 100 Do. 6 p.c. Deben.,pay.'7B all j 73 75 The second series of public sales of foreign and Stock Edin.,Perth, & Dundee.; 100 1 27 28 261 100 Do. 6 per cent. Pref lOO 91 93 10 Forth & Clyde Junction! all i - - 20 Gt.lndiaPenin.gua.sp.e l all 95 96 96 colonial wool commenced yesterday afternoon, and Stock Furness I 100 1 - - 20 Do. New, gua.s per cent. 4 14 1. d Stock Glasgow & South Westn 100 92 93 20 Do. do 20 f Gt.S.of Ind.Lim.-Scrip 2 4, - 14 j d notwithstanding the quantities to be offered were 10 Great North of Scotland all 105 101 exceedingly large there was a good attendance of Stock Great Northern lOO 102 104 Stock Do. do. A Stock , 100 84 86 201 Gt.W. of Canada Shares all 15 154 both home and foreign buyers. The biddings were Stock Do. do. B Stock lOO 130 132 100 21 ( all ,102 104 animated, and a rise of Id. to lid. per lb. was N o o e c i lc c Gt. South.& Wstn.(lreld) 100 105 107 Great Western i 100 6 0 604 60 5 5i 4 ( ept. till '6O '76,with Do. Bonds NBaroeanwndtseepdays.per cent. . all 102! 104 established on Sydney and Cape wools, and fully Stock Do.Str.Vl.Rail Gua.Stk I 100 55 6 0 100 Do. do. '73 till '6O 12 Irish South Eastern . I all - - 100 Do. do. '73 without opt all 101 103 Lancaster and Carlisle. all 85 90 11d. per lb. on Van Dieman's Land and Port Philip 50 100 Do. 54 p. c. do. '77 do 165 Do. Thirds qualities. 1613 4 Do. New Thirds l6 11 12 p 20 Do. do. 5 per cent. all - Stock Lancashire & Yorkshire 100 955 96 95 1 - 5 In the Liverpool Cotton Market yesterday rather 20 Do. 41 p. c. Extension.. 15 88 92 I 16 Do. do. F £l6 I 6 1 1 d 20 Do. Third Ex. gua.s.p.c., 15 19 191 d more activity was apparent, and 8,000 bales were 9 Do. do. £9 shares , 7 I } d 20 Do. Fourth do. at previous rates. The Railway Share Market 3 Do. West Riding Union 4 - - Stock Melb. Corp. 6 p.c. Bonds 100 - . - soldili Do. do. Brunswick&Canda. 20 Do. Southport - - 20 lt 1 a y . a t dc I L :0 .. a c n ßa d Lp. ( cai L tnia i Stock London and Blackwall. all 65 67 66 5 closed steadily, and prices were without material. d ni p sfa di r: d e . Pc . . o. .. 1i: - Tid - Do.Newiss.at 25105p.5h., - - - , , alteration. Stock Lon.,Brighton &S.Coast' 100 111 113 112 i A further sum of about L 12,000 was taken away Stock London & North Westn 100 945 951 945 124 Do. Eighths - from the Bank of England yesterday for the conti- Stock London& South-Westn lOO 95 96 95 20 { NorthoflndiaTramrod 2s. 25 IL'derry & Coleraine all all - - Limited, Scrip I neat. These withdrawals will probably continue, 25 ‘L'derry & Enniskillen.' .• an 5 7 „. 20 Oude (Limited) 1 ss. 1 - Stock Man., Shef., & Lincoln.. 100 35 4 864 'uz 20 Scinde 1 V, c, 1 1 a 2 5 11 l i - 1 1 9 d 2 - 1 0 d d unless fresh supplies are soon received from Aus- 10 Metropolitan - - d 20 Do. tral:a. Moderate remittances are still forwarded stock Midland 1 100 11034 104 103 4 5 20 ,Do. New Stock Do. Birmine• & Derby.; 100 79 8 1 20 Do. Punjaub from the United States, but as they are not suffi- 50 (Mid. Gt. West.. (Ireland), all - - 20 Do. Indus. St. Flo a„..2,•,' 5 111 1 1 5 1 25 IDo. 4 Shares ' all - - 20 St. Andrews & Quebec:ll 18 1 - - cient to satisfy the export demand, the bullion 100 Newcastle and Carlisle ' all - - 10 Trinidad(Limited) Scrip' 1 " - - dealers are resorting to the Bank. It is positively 25 New., Aber., & Herefd all 911 1 10 1 I asserted that some large consignments of silver are 20 Newry w A ar r p magh (def ) 9 - - t., & Ros I all - - FOREIGN RAILWAYS. - 'to be despatched to the East, which may render tock Norfolk lOO 60 62 8 50 North. Counties Union 34 31 1 a 10 Antwerp & Rotterdam' all 44 45 the specie movement still less favourable, and per- Stock North British lOO 564 674 20 Ardennes all - - p Stock Nor.Dev.Rall.&Dk. Stk.f 100 - - 20 Bah.&S.Fran.,Lim.7p.c 3 15 0 d haps lead to an important diminution of the bullion Stock Do.A Stk. - Arec.no div., 5 Belgian East. Junction all 1 1 • until 6p.c.hasbeenpdl3 l 100 - - 20 'Beziers to Graissessac. all - - in Threadneedle-street. Stock Do. B Stock - - 5 Carmeaux Mine & Rail. all 2 24 Messrs. D. Bell, Son, and Co., ive the following st oc ktNorth-Eastn.-Berwick 100 93 9 34 20 Dutch Rhenish g 25 Do. do. G.N.E.Purchase 1613 4 11 1 d d 6 Eastern of France is the price of American Securities :- Stock, Do. Leeds i 100 47 471 20 'Euphrates Valley 2s. ! - - p Stock n Do. York : 100 76 76 5 754 20 Great Central of France ce all ' - - Redeemable.' Prices, StocklNort h L on d on lOO 101 103 20 Gt. Luxem. Con. shs all 61 61 United States 6 per Cents..... 1867-1868 - - 10 N. &S.Westn., Hampstd 1 0 (Italian Junction .....:: 8 - - ' Do. 6 per Cent Bonds - - 20 !Lake Constance & Bale all - - ' Alabama l 5 per Cent. Bonds - 7 5 77 20 'North Staffordshire.... 174 43 d 1 31 20 Lierre and Turnhout... all - - Kentucky 6 per Cent. Bonds lB6B-72 92 94 20 North-Western Maryland 5 per Ct. Str. Bonds - 93 95 10 No. & Sou. W. Junction; all 6 8 20 Lucca & Pistoja, 5 p.c.pf. all - - Stock Oxford, Wor.,& Wolver.l 100 32 34 325 20 Lyons and Geneva .... all I - - Massachusetts 5 per Cent. Str. 10 Peebles all - - 334 31aria Antonia all , - - Bonds - 100 101 20 Portsmouth ll9 8 5 , 20 Do. do. New - --. Ohio 6 per Cent. Stock lBB6 98 100 10 Rhymney ,10 - - 20 Namur and Liege all 75 8' Pennsylvania ö per Ct. Stock. - 82 84 Stock, Scottish Central 1 100 110 112 20 Do. do. 6p. c. Pref..... all 184 19 Pennsylvania 5 per Ct. Bonds 1877 83 85 Stock' scoth. N. E., Aber. Stock; 100 25 26 16 Northern of France .... all 361 37 :365 Stock Do. Scottish Mid. Stock' 100 SO 82 20 Do. New Shares - - p Tennessee 6 per Cent. Bonds. Divers 80 82 ; 100 145 47 10 ,Norwegian Trunk Pref all 9 10 Virginia 6 per Cent. Bonds .. 1886 83 85 Stock Shropshire Union 10 Sittingbourne & Sheer ' all ' 4 3 d 20 'Ottoman. cm a. 6 per cent 7 - - Virginia 5 per Cent. St. Bonds 1888 83 85 Stock South Devon 1100 142 44 20 Paris,Lyons, and Medit. all 34 3.5 Boston 5 per Cent. St. Bonds - - - Stock South-Eastern 1 100 725 735 73 20 'Paris and Orleane_...... all 53 65 Illinois Central 7 per Cent. .. 1875 78 80 StocklSouth Wales IDe 62 64 20 j Recife& S. Fran. (Peru.) ll 25 21 d Illinois Central 6 per Cent. .. 1875 75 78 20 SouthYorks.&Riv.Dun all 6 0 6 5 / , gua. 7p. et. (Lim.) ... Illinois Central 7 per Cent. 20 'Do. do - 20 ,Riga and Dunaburg.... 4 - - (Freelands) 25 Stockton & Darlington. all 36 5 87 4 10 ;Rome and Frascati .... all - - 20 (Royal Danish all - - Do. shares, 60 dols. paid .... 34 32 dis 2.5 Do. do. 1855 7 - 5 Royal Swedish - - Michigan Central 8 per Cent.. 1869 82 84 2,5 Do. do. 1858 7 - - 4 Do. 7 per cent. Pref. .. all - - Do. do. shares - Stockton & ilartlepool 161 - - 20 'Sambre and Meuse. .... all 64 61 64 Panama 7 per Ct., Ist mort- Stock, Taff Vale lOO - - 10 ;Do. 51 per cent. Pref.... all 85 85 gage Str. Bonds, not cony.. 1859 100 102 StocleDo. Preference, No. 1 - - 20 'Southern of France .... all 20- 21 Do. do~ Ist. do. - - 81 I West Flanders Stock Vale of Neath I 109 68 72 10 Do. s}p. c. Preference . all 95 95 New York Central 6 per Ct , StockWaterford & Kilkenny 100 ' - - 20 W. & N.W. of France..' all 21 22 not convertible . - - 20 Western of Austria .. . 6 - - New Y or k Cent ra l 7 per. Ct , - 20 West Cornwall - - 10 i W-end Lon. & Cry. Pal all - - 6 Wiesbaden convertible, from June 15, - 1857-0 1864 93 95 5 Do.A.-Arecv.nodiv.tilll , 6Do 8 per cent. Pref.... all - - Do. do. shares 69 71 5 'West ,Do 7 . p ß .c. has been pd. to B all 3 85 ell 1 7/ 71 20 Zealand all - - New York and Erie, 7 per Ctall 1 - - •, 20 London 3d mortgage all all - - - - New York and Erie 7 per Ct., 20 Do. 2d Class . Closing Business convertible . 1862 - - PREFERENCE SHARES. Shire Mines. Paid. Price. Done. New York an d E r i e, 7 per Ct., _ _ ______ __ _ _ __ __ sinking fund . 1875 --- Share ,' Railways. ' Closing Business Paid.( Price. Done. I Do. d o . s h ares 7 9 - Alfred Consols (Philack) 2.11.10 5 6 20 British Iron With regard to monetary affairs there is very 25 Blythe and Tyne It per' 1 c. pref. (issued at e5O) all 149 51 - Condurrow (Camborne). 20 1 - - little alteration to report, but the discount houses f Stk Brie. & Exet.4p.ct.Stock 100 196 98 10 Devon G. Cons. (Taoist.) 1 1445 455 - East Bassett (Illogan). 30 175 185 are not offering such facilities as they did a few g2O Do. do. do. Shares , - Great South Tolgus.... 17s 13 14 Lock Caledon £lO, 44 per cent! 100 102 104 - G.WhealA lfd.(Phillack) 11.18.8 14 2 , days ago, owing to an impression that specie ex- 12.10 IDo. Quar. Shares, No. 2. ' 10 - -• -G. Wheal Vor(Helston) 94 1 5 Stock,Chester & Holyhd, 51 pc 100 - - - Lady Bertha ports, new loans, &c., may soon enhance the value Stock Do. do. sp. ct. - - - North Frances (Illogan) 84 6 7 of accommodation. Cork & Bandon, 54 p. c all - - ;Dun. Perth,&Aber.Jun all 55 65 - I Nea i h r - r ß heal Crofty... 7.9.9 7 8 A limited amount of business has been transacted StotlE.Angn. Class A 7 & spc 100 99 101 -- 'Par Consols (St. "ii , 2 1 8 i Stock,Do. do. Class B 6 pc lOO 110 114 - ,Porkellis Unit. (Wena.) 9 - - in the market for public securities to-day. There Stock l Do. do. Class C 7 pc lOO 107 111 - Sortridge Cons. Min.Co.' 6s 4 5 have been a few speculative transactions which Stook l E. Colin. Ex. 5 pct. No.l 100 114 ' 116 StocklDo. do N 0.2 100 1113 115 - ISouthCaradon(St.Cleer) 21 240 250 - !South C. Brea( Illogan). 2 25 25 ' have caused a retrograde tendency, a decline of StockiDo. New 6 per ct. Stock 100 1129 131 Stock Eastern Union, 4 per ct.' 100 178 82 - S Wheal Fran. (Illogan) 18.18.9 165 175 about 1 per cent. having taken place. Consols Stock East Lane. 6 per ct 1 100 1 - - iS Tamar Silver and Lead Mining Co 4l 2/ 21 Whit h have been 94: 95, are now quoted 941 95 for 5 'E.& W. York. Jcn. fifths all - - 10 Tin Croft 9 44 41 .%toeltiEdin.&Glas. s_pc shares' 100 ' - - - UnitedMines(Gwennap) 40 mouey and account. The public daring the Stock,din.Perth,& Dun. 4 pc. 100 - - - Vale of Towe l s (Carm.) 12s 6d, 4 5 last Stock Furness, 5 per cent ....I 100 - - few days have effected sales of money Stock Glas.NS West. , a. 5 pc. 100 ,112 114 - West Basset (llogan) l4 1 21 22 - W. Caradon (Liskeard) lO 1135 140 138 Stoc ks which have also created a heavy tone. Stock Great Northern, sp. ct. 100 'l2O 122 - Wheal Basset (Mogan). 54,170 180 , ...._- Wheal"ee' w h h eal lT Krß:uitaltylwneraceß;Le(dLeriiu.s.tkht.))) l : 1.74 5 .: 1 28 0 84 5 115 809 The k Do. 5 pcßedm.,lop.c. m 100 111 113 New Threes have receded to 95, and the Re-p. C. do. o. stock Do. 44 d P lOO 1051 107 --- Wheal Edward (Cal s.) ; 54 1 2 25 duced to 951 Bank Stock is firm at 223 ; India 100 Do.V.c. Redm.,s pc. pm. 80 !84 86 lo Gt. h. of Scotld, Ist pt. all 11 115 ditto • -* is steady at 220 i ; ditto Loan Debentures Stock f Gt. Sn.& w (Ireland) 4 / 100 - pref. Stock ... ) _ ..... - --. Wh'l 3laryAnn (Menhe), 81 38 40 (1858) are marked 95 ; ditto, 1859, 942 ; and the 50 rest WeAgerks t and a Scrip, 931. Exchequer Bills remain at 275. to Stock Do ll . re t c s leem' Redeemable, P i; p . . c . t . . 100 94 96 FOREIGN MINES -30 s. prem. Stock Do. Redeemable, 4p. et. 100 8.5 87 Stock Do. Irredeemable, d 0... 100 87 89 20 Australian The transactions in the Forein Securities h ave Stock Do. sp. et. Redeem. Pref. 100 99 101 1 Bon AccordCapper,Lim i 108 4 par f I p g 8 Do. Birm. Prof. Shares all 94 104 35 Brazil. Imp. (is. at £ s p.) 27 : 1 - been very restricted, and prices show a general 10 Gt. West. Ches. 8 p.c.pf. 20 Do.St.Johndelßey,Lim. 15 9 11 - decline. Turkish 6 per Cents. are 79 to 81; ditto shares all 164 174 all 95 10-5 :5 Do. Land and Mining-Co. all - 1 Clarendon Consols Min p. ct. pref ins Co. of Jamaica ... New, 68 to 70 ; Brazilian 4-1- per Cents, have re-I - - d St 2 l o o 6 c i k D D D O o o . B c d i o h rm . e s a i t n e g r . g gu aar ar a . i s i t ar oc e k a 100 all 17534 1976 40 Cobra Copper al 42 43 434 ceded to 941; Portuguese to 44 ; Belgian 4: per 134 ;Do. do. do I all 91 9 ,Copiapo l6 911 20 IDo do. do. 1 all 14 14 1 'DunMoun.Cop.Ming.Co all 1 1 Cents. to 97 ; Dutch 2: per Cents. to 651 ; and StocklLan . . & York 6 p.c. stock' 100 141 143 2 (Fortuna ditto 4 per Cents. to 1001 ; Russian 4: per Cents. Sto ck ,Lon.&Brif.r.spc. gu. No.l 1 00 20 General all 23 25 - - 3 Linares all 10 11 are steady at 9915 Lusitanian • sSttoocckk'Dpoo.. picreewf.,gus 1 Mariquita all 1 1 A very limited amount of business has been d0ne P a . . c ,.6 . p . .. N et 0 ... 2 . 1 100 00 -- - 1 New Granada all - - in the Railway Share Market, and a further reduc- Stock stock Do. Lon d .& 0. N 5 . 100 - - . & Lo n . 4_ 100 - - 1 N.RhineCop.of S.Aus.L 10 1 1 p 20 Poutgibaud Silver, Lead tion of about ito 1 per cent. is apparent in values. late 3d shares llOO 158 162 ' Mining and Smelt.... all 3 4 2 Stock Lo e n at .n. S W WP .1) , c. C 76. ° p t :I . c t . stock, 5 Port Philip North Westerns, South Westerns, Midland, Great3o 'Santiago de Cuba l6l - - western 1 1 2 21 'LLoontiddoonnddyy.&& RCoalnei,alahhs: all all I - 9 - 28.2.811 United Mexican all 15 15 ,14 estern, and North Eastern (York), have each Stock Man.,Sh., & Lin., 6p. ct. 100 126 , 44 1122 4 IP Do. Do. declined about 10s. ; South Eastern and Caledoniantoo ,68 70 - 12+1 a a ll _-• -_ 1 1 Share Joint-Stock Banks. I Paid. Closin gl, rie. I have improved ss. 3 4 5 6 per cent. 5 1 t 2 0 4 6 1 1: B D us o hi nc ess The Foreign and Colonial undertakings are also Do. cent... . 4 . 104 ' - - 85 22 21 19 001 II shade flatter. Lombardo-Venetian Old shares Stock Mid. Con. 6p. C. Stock . 100 I - Stock Do.Con.Bris.&Bir.6p.ct. 100 ;142 144 I 100 Agra&UnitedServiceßk 50 70 72 40 Australasia a ro dealt in at 9-4, and the New at 91, and the last .l allall 283, 25 Bank of Egypt Stockd Do. Do. with 44 p. c. op pref. stock.. 100 3 105 1074 P q u otations for the latter are 9 1 9 1 Northern of Stock Do. Leic. & Hit. p ref. st. 100 04 96 100 Dank of London ' 60 47 50 485 2 9 4' all 1 95 10 40 'Brit. Col. Bk. & LoanCo : all - - (00 'British North American' all - - Pr ance are steady at 361; and Sambre and Meuse, 10 i Npe.wport,Aber,&c.pret.sl c. redeem, at 5 p.c. r m at 10 Do. Perpet, 6p. c. with 20 IChtd. Bank of India, &c: 12 11 1 d 6 ii• East Indian are steady at 98 and 98: ; option till 1866 all 114 115 100 ;City Great Indian Peninsula, at 96. . Stock Norfolk Deb. 4 p.c. shares' 100 - 100 ;Colonial - - 20.11 ICorn. Bank of Canada all - - J oint-Stock Bank and Miscellaneous Shares showloo ICommercial of London 2O 18 20 Stock Do. sr. c. Ext. Stock,lB46 lee - - a slight improvement. Bank of London have ad- Stock Stock Do. sp. c. Pref. do. 1847, 100 - - 20 lEng , Scot., & Aus. Ch. all 155 165 , Do. Way.Val.Ex.Sk 18471 100 - - Stock North British, 5 percent! 100 110 112 20 Gen Bk. of Switzerland all - - Vaueed 10s. to 15s. ; London and Westminster, 20 Lou Char.Bk.otAustral. all 20 204 O ttoman Bank declined ss.and ss. Stock Stock Do. New, gua. 5 percent) 100 - - ; London Joint- Nth.Dcv.Rail.Bz Delc.Co. 100 - - Stock N-East. irred. 4 p.c. Deb. 100 - - 50 Loudon and County - - 301 50 London Joint Stock S tock£l. Electric Telegraph are steady at 1081, Stock Do. Berwick, 4 p. c. Pref. 100 98 100 100 London & Westminster 2O - - 515 t 17 Do. do. do. - and Royal Mail Steam have declined to 501. 20 Do. Leeds, 6p. c. No. 1 1 13 - - - 20 Do. new 1 0 - - 124 Do. do. Quarters , 1846 1 9 - - 50 National Bank 25 - 25 Do. York, H.& S. Purch.l 10 p 5 p 20 New South Wales BR ITISH FUNDS THIS DAY AT ONE O'CLOCK. 20 North Staffordshire . .1 all 22 23 25 Orient .Bk. Corporation all -- - 39 , 1:14111 E Stock 223 Provincial of Ireland ,11Per Cent. Reduced Annuities 9 55 i i it s St t oc oe k ki ,D po o . . 44dop..dc.oD.,b2datglik.ianperp11 100100 12992 101126 10 Do. New all - - tPer Cent. Consols Annuities - - 25 South, Australia - - N®l° .) 955 .5 5 Stock Scottish N.-Eastern deb 100 - - 25 'Do. New - - 1. e per Cent. Annuities i ll it dia Stock 2205 Stock Do. 31 per c. pref. stock' 100 72 74 25 lUnion of Australia ... s to Debentures, 1858 95 441 StocL Do.Aberdeen.gua.6Pc. 100 118 122 25 Do. New 2O - - , uitte 1859 60 - - Vitt° . 10s. South Devon, Ann. les. 11 105 101 100 Unity Mutual Loan Scrip Di tto Bonds, £l,000 - - 100 Western Bk of London' 50 - - d 6 1 d 1.0.6. South Eastern (Reading r . Under 41,000 _.olasols for Account (Aug. 9) i: X . chequer Bills, £l,OOO, 1 5d 3O 27 Stock Do. Fixed 44 p.c.lstis. 100 103 105 ~, Closing Business ..ftto f,500 Ditto - - Stock South Wales, gua. 4 p.c. 100 - - Share Securities. Pa m . ' Prices. Done. --.0 Small, 15d. - - ____ PR - - ~- - ICES OF FOREIGN FUNDS AT ONE O'CLOCK. - Can.Gov.6p.c Ja. & July 100 112 113 ur azilian 5 per Cent. - Do. 6p.c.Fb.&Aug. 100 113 115 - 25 , Do. 6 per cent Ditto 45 per Cent. 1858 945 StockWaterford & Kilkenny, , all 334 344 - Do. 6p.c.Mr. & Sep. 100 113 115 p ertugUese, 1853, 3 per Cent. - I 6 percent.- all 47 53 - N.8.G0v.6 p.c. Ja. &July 10C 1071 1081 - Do. 6p.c.Ap.& Oct. 101) - - _ Ditt o 3 per Cent., 1856, 7, and 9 44 - N. S.W. Gov. sp. C. Deb. 106 98 99 R ussian, 1822, £ St., 5 per Cent - LINES LEASED AT FIXED RENTALS. - NovaScotiaGov.6 p.c. S. 13 it 1 0 45 per Cent. .. 995 --- - - --- _ raid. l Leasing Closing Business Deb. redeemable, 1875 100 1074 1084 108 75 T urkish 6 per Cent Ditto Account - Railways. Co.'s. Price. Done. - S.Aus.Gt.6pc.Jan&July 100 108 110 81 791 - Vict•Gov.6p.c.Jan&July 100 - - Ditto New Loan - -- uitto Account - . • . ~ inn ' 'T . n Ji, NT w OR 100 Atlantic & St Lawrence I 100 all 79 81 Leased at 6 per cent I Born., Baroda& Cent. Ind 18 134 lo 17 u. 5 per cent 18 Do all I 18 Do. Addit. Capital Ai 6 15 1 d 18 Do. Do. B 9 14 1 204 Buffalo and Lake Huron all 5 54 204 Do. New 165 6 7 d /00 B . uffalo,Brant. &Godrich p. ct. bds. 1 Aug., 1872 100 Do. do. 1 July, 1873 100 190 Do. do. 1 June, 1874 • 20 Clcutta.&S.Eastrn. Lim. 1. 10. 5 d 4 20 Cape,Eastn. Prov.(Lim.) 2s. 20 Cape Town & Dock Scrip 2s. 15 11 20 Central Oude (Limitec.,) 2s. 6d. 20 Ceylon Guaranteed 6p.c. 75 d 175 'Demerara 20 'Eastern Bengal.gu.sp.c 5 11 14 d Stock East Indian„ , zu. sp. c lOO 98 99 98 4 1 8 20 Do. C Shares all - 20 Do. 14 1 Shares Ext 8 20 Do. Jubbulpore 5 100 D 0.44 p.c. Bds. pay.'s9 all 99 100 99 20 Geelong& Mel.gua.s p. c. all 19 20 Sto 5 Geelong Corporation 6 100 ( per cent. Bonds Stock Grand Trunk of Canada 100 32 34 100 Do. 6 p.c. Deben.,pay.'7B all j 73 75 100 Do. 6 per cent. Pref lOO 91 93 20 Gt.lndiaPenin.gua.sp.e i all 95 96 96 20 Do. New, gua.s per cent 4 15 d 20 Do. do 4 -- 20 5 Gt.S.of Ind.Lim.—Scrip 2s 14 Id ( guaranteed 5 per cent. 204 Gt.W. of Canada Shares all 15 154 204 Do. New 100 Do. Bonds pay. '76,with ( ept. till '6O 100 Do. do. '73 till '6O all 102 104 100 Do. do. '/3 without opt all 101 103 100 Do. 54 p. c. do. '77 do 20 Madras, guar., 44 p. c all 85 90 90 20 Do. do. 5 per cent all - 20 Do. 41 p. c. Extension.. 15 88 92 20 Do. Third Ex. gua.s.p.c. 15 19 194 d 20 Do. Fourth do. Stock Melb. Corp. 6 p.c. Bonds 100 Newßrunswick&Canda. 20 ( &Land(L 10 —d Class ACapitl.Share • Do. do. Land do .. 20 Do. do. B. Capital do --d ▪ Do. do. Land do lO 20 f Northof India Tramroad 2s j Limited, Scrip 20 Oude (Limited) 20 Scinde l5 d 20 Do. 20 'Do. New c ) 12 1 1 d 20 Do. Punjaub 5 1 lld 20 Do. Indus. St. Flo. '„;'' 10 1 1 d 20 St. Andrews & Quebec:Al 18 10 'Trinidad(Limited) Script 1 I FOREIGN RAILWAYS. 10 Antwerp & Rotterdam' all 44 4} 20 Ardennes all p 20 Bah.&S.Fran.,Lim.7p.c 3 15 0 d 5 Belgian East. Junction all f 1 20 Beziers to Graissessac. all 5 Carmeaux Mine & Rail all 2 24 20 Dutch Rhenish 6 Eastern of France 20 'Euphrates Valley 2e. p 20 Great Central of France all I 20 Gt. Luxem., Con. els all 65 61 10 'ltalian Junction 20 (Lake Constance & Bale all 20 Lierre and Turnhout all 20 Lombardo Venetian 8 25 2 3 p 104 94 20 Lucca & Pistoja, 5 p.c.pf all 20 Lyons and Geneva 334 Maria Antonia all 20 Do. do. New 20 Namur and Liege all 71 8' 20 Do. do. 6p. c. Pref all 18 V 19 16 Northern of France 20 Do. New Shares 10 Norwegian Trunk Pref all 9 10 20 ;Ottoman. tru a. 6 per cent 7 - 20 Paris,Lyons, and Medit. all 34 35 20 'Paris and Orleans 20 j Recife& S. Fran. (Peru.) 111 25 d gua. 7 p. et. (Lim.) 20 ,Riga and Dunaburg.... 4 10 ;Rome and Frascati .... all 20 'Royal Danish all 5 Royal Swedish 4 Do. 7 per cent. Pref. 20 'Sambre and Meuse all 65 61 64 10 "Do. 54 per cent. Pref. 20 Southern of France - 21 8f 'West Flanders 10 Do. 54 p. c. Preference 20 W. & N.W. of France all 21 22 20 Western of Austria 6 20 Western of Switzerlan all 6 Wiesbaden 6 Do 8 per cent. Pref all 20 Zealand all PREFERENCE SHARES. Share) Railways. l ' Closing Business Paid. l Price. Done. 25 Blythe and Tyne 1( per) all 149 SI C. pref. (issued at t,50), Stk Brie. & Exet.4p.ctStock 100 196 98 20 Do. do. do. Shares 9 took Caledon £lO, 44 per cent 100 102 104 12.10 'Do. Quar. Shares, No. 2. 10 Stock Chester & Holyhd, 54 pc 100 Stock Do. do. sp. ct. Sto4Cork & Bandon, 54 p. c all ;Dun. Perth,&Aber.Jun all 5 1 6 4 klE.Angn. Class A 7& spc 100 101 Stock Do. do. Class B 6 pc._ 100 1 99 10 114 Stock!Do. do. Class C 7 pc 100 107 111 Stook l E. Coun. Ex. 5 pct. No.l 100 1 114 116 StocklDo. do N 0.2 100 1113 115 Stock,Do. New 6 per ct. Stock 100 1 129 131 Stock'Eastern Union, 4 per ct. 100 i7B 82 Stock East Lane. 6 per ct lOO 5 lE.& W. York. Jen. fifths all ..qtocklEdin.&Glas. spc shares, 100 ' Stock ,F,din.Perth,& Dun. 4 pc.', 100 Stock Furness, 5 per cent 1 100 Stock ,GlasitS West. ,, a. spc lOO ,112 114 Stock 'Great Northern, sp. ct lOO , 120 122 Stock Do. 5 Redm.,lop.c.pm 100 111 113 Stock Do. 41 pc p. c. do. do. 100 Do.sp.c. Redm.,s pc. pm BO tB4 86 10 Gt. Nh. of Scotld, Ist pt all 11 114 Stock W (Ireland) 4 I p. ct. pref. Stock 60 reat West. (Berke and 6 Hants) Ext. 5 Act... • Stock Do. Redeemable, 44 pct. 100 94 96 Stock Do. Redeemable, 4p. ct. 100 85 E 7 Stock Do. Irredeemable, do lOO 87 89 Stock Do. sp. ot. Redeem. Pref lOO 99 101 8 Do. Birm. Pref. Shares all 94 104 10 Gt. West. Ches. 8 p.c.pf shares all 164 174 10 Do do. sp. ct. pref all 92 10} Stock Do Birming. guar. stock 100 73 76 264 I Do. Chester guanshares all 184 194 I 134 Do.l do. do 20 IDo. do. do. StocklLan. & York 6 p.c. stock' 100 ;141 143 St oc kiLon.&Brig.spc. gu. No.l 100 I -- StocklDo. pref.,c. ...No. 2 1 1 Stock Do. New gua., 6p. ct lOO Stook Do. do. sp. c. No. 4 100 I Stock L on. & N. W. Cov. & Nun eaton, 5 p. ct. 100 1 Stock Lon.&S. W, 7 p.ct. stock, late 3d shares 1 100 158 162 124 'Londondy & Cole, 4 shs 1 all , 124 Londoudy.& Ennis 4sh all 1 8 9 Stock Man.,Sh., & Lin. , 6 p. c t lOO 1 122 126 6 Do. £6 44 4 1p Stock Do. 34 per cent. 124 Maryport & Car., 4 p.c all 1 f Do. 4 per cent 124 I Do. Stock Mid. Con. 6p. c. Stock 100 1 Stock Do.Con.Bris.&l3lr.6p.ct lOO 142 144 Stock Do. 44 p. c. pref. stock lOO 105 107 6 Do. with option till 1860 3 p Stock Do. Leic. & Hit.pref. st. 100 94 96 10 NewportAber,&c.pret.s 1 all 91 10 p. c. redeem, at s p. c. m 10 Do. Perpet, 6p. c. with option till 1866 all 114 111 Stock Norfolk Deb. 4 p.c. shares 100 Stock Do. sp. c. Ext. Stock,lB46 1(W Stock Do. 54 p. C. Pref. do. 1847 100 Stock Do. Way.Val.Ex.Sk 1847 1 100 Stock North British, 5 percent , 100 110 112 Stock Do. New, gua. 5 per cent; 100 Stock Nth.Dev.Rail.& Do.k.Co. 100 Stock N-East. irred. 4 p.c. Deb. 100 Stock Do. Berwick, 4 p.c. Pref. 100 98 100 17 Do. do. do. 20 Do. Leeds, 6p. C. No. 1 1 13 124 Do. do. Quarters , 1846 25 Do. York, 11. &S. Purch.l 10 p 4 p 20 North Staffordshire .l all 22 23 Stock Ox. Wr. & Wol. 6pe. If3tgi 100 124 126 Stock Do. do. do., 2d gua .. 100 122 126 Stock' Do. 44 p.c. Db. stk.in perpl 100 99 101 84 Scottish Central, new ps all Stock Scottish N.-Eastern deb 100 Stock Do. 34 per c. pref. stock' 100 72 74 StocY Do.Aberdeen.gua.6Pc. 100 118 122 Stock Do. 7p. c. pref. stock. 100 118 122 10s. South Devon, Ann. 10s. 11 104 101 10 Do. Fixed 44 percent. 1 1.0.6. South Eastern (Reading Ann., 1.0.6.) Stock Do .44 per cent lOO 104 105 Stock Do. Fixed 44 p.c. Ist is Stock Do. New do., 2d issue lOO Stock South Wales, gua. 4 p.c lOO Stock Do. 44 per cent lOO 20 S.-Yorkshire, 4 p.c. gua all 25 i Stockton and Dar. 5 p.e all 28 294 25 , Do. 6 per cent 344 St oc klWaterford & Kilkenny, , all 334. 6 percent.- all 47 63 Bedford and Bletchley l all Ln & N.W .. .. MlSCELLANEMlL_____________—_ Buckinghamshire ... . 100 'Ln& N W 98 100 Clydesdale Junction. Share MiscellaneOns. 100 Caledonin 102 104 Paid. Closing f lus i n ees done . \ p rice. Colchester, Stour Val. all E.U.&E C , 17 18 E.Lincolnshire,g.6p.e. 100 Gt. North. 139 141 _ ____ ' E Union,Harwich Shs. all E.Counts. Do. Woodbridge . 100 I Gls.Barr.&Neils,Drct. a 100 Caledonin 1000 Atlantic Tel. (Limited). all 220 260 Do. New [ 100 Do. — 25 Australian Agricultural 19 28 30 Gloster& Dean Forest' all Gt. West. 10 Australian Royal Mail . all 1 i H a rtlpool.Dck.&Rail.' all Yk.N.&Br 10 Berlin Water Works ... all 2 3 Hull and Selby Do. 4 Shares all Do. - 50 IBritish American L a nd 40 Do. I Shares all Do. — 50 !Brit. & Irish Mag.Tel.A. all 36 38 London&Greenwich Do, Preference 1 100 !Do. Lon.,Tilby.&Soutend. 100 Peto &Co. 90 92 100 'Canada Land 324 110 116 Do. Barking Shares..l all I Do. — 10 Chan.lslands Tel.(Lim ) all 8 9 Lowestoft, gua. 4p. ct. 100 INorfolk . Stock Cop.Min.of Eng. &Smltg all Do.loo Do. ,Ard 5 Crystal Palace. Mane., u• • & Matk. all ILN W&M 24 2 .c. all IStk.& Da . 5 Do. Preference all 4 g 54 20 Eastern Steam all a.6B:rficoectrdn: ;P i. ' r g f. Stk.: l3P Newmarkt.,BuryEx 15. 5. 6.lE.Counts. 11 p PM Stock Electric Telegraph lOO 104 110 1081 5 Eng. & Anit. Cop.St.Co all 1 2 p guaranteed 5 p. c. 57 59 10 Europ. & Ind.Junct.Tel. 10m. ' 9 Europ.&Am.Stm.(Lim.) all Do. do. fi per cen . • • • all I Do. Do. Fixed 5 per cent. Northn.& Eastn. t 5 p.c. all all l 'r3g: L& NW ) 15 Gen. Steam Navigation. 14 Preston and Wyre. i all & Lyk . i 20 London Discount 5 1 11 d3l all Do. — 4 Lond.Gen. Omnibus Co all 1 1 11 Do. I Shares ......A• 10 Mediter. Electric Teleg all 10 Med. Exten. Tel. (Lim ) all 5 6 Shf.R ot h . &G o l. g .sp.c. 1811 612 _ rano), 94 10 25 National Di s oo un t Co 5 11 1 d Roystn,Hitch.,& Shep 100 , G i a t. n N sz or i tb k . I_3B 14_0 Shrowsbry& Hereford IS all .T 10 Netherlands Land 6 SwoeuatrhySatauffeoyr,dgshoirpe..c..l all tk.Sz Dar all 1 .... 3PClcanl . 101 11 10 Do do all Do. do. , all D0....... 6 Do g p.c.Pref.,iss.at idle. all I 1 100 N.Br.&NovaScotiaL and 80 1 N.B.Australasian (Lim.) all 1 i 5 Peel RiveraAustralian3rir na eiMail Land Tsetieegai n & . Mi n . W wim ilts bi a e n d d on S & osn c e r r o s y e dn t : 100 all { G L. t iß W r e g s t t n , 88 , 9 9 0 20 North of Europe Steam all 1 Oriental Gas DOCKS. 1 Do. New Shares l a s l s l. I 1 5 p 2 a i r • Sharel Closing Business Docks. Paid p r ice. Dose. 50 Pen. & Oriental Steam. all 77 79 50 Do. New lO 10 11 20 Red Sea & Ind. Tele r lO 5 IP 50 Rhymney Iron Stock Commercial lOO ..... 15 Do. New Slack Do 4 per Cent . Pref .Si in. 100 .... Stock East and West India... 100 .... tmadhloßegistered I d . scr an i d p Waal all l 4 35 9 t i 5 1 431 7 211 1 Sc ot. Austrin.lny.(Lim ) ll5 130 Stock London lOO ••-• Stock St. Katharine lOO -- 1:5 1 1 Do.SSßu:uby Stock Southampton lOO stock Victoria - 1 10 Tr.& Ln.Co.of Upr.Can. A 10 Do New 0 1$ M . 100 Van Diemen's Land;,, q 5 8 9 Dividends on th® above payable in London. Bel • 4 per Cent. Ex. 25f. 97 butch Exchange, 12 9 Guil. 21 per Cent 651 Ditto Certificates, 4 per Cent. TWO O'CLOCK. Consols, Money 941 5 Ditto Account THIS DAY'S SHIPPING. Nuorr, July 22.—Wind this day at noon, South 'Westerly ; light, pleasant breeze, and very fine clear Weather. b Sou Tulmrrox, July 21.—Wind S.W.—Arrived— .-ireraen, steamer, from New York. &m NEWP ORT July 21.—Wind S.W.—Arrived—Albun, itt S' l " wAI IsEA, June -rota Quebec. July 21.—Wind E.—Arrived—Envoy, and lie's Cave from Quebe c Alkmar, from St. Stephen's. Sailed—Opheila, for New York. 21.—Wind S.E.—Arrived—Fairy, (BY ELECTRIC TELEGRAPH.) LIVERPOOL, Friday Morning. Wind E. (BY SUBMARINE AND BRITISH TELEGRAPH.) f ti ou tt i Av h E o s u E rs x p e , b F b ri . da weather Wind S.W. ; tide,mofery utte. Wind S.S.W., moderate. DEAL, Friday Morning. been 'RE BORDER GIPSIES.—A townsman, who has making a Border tour, writes to a friend that he has d an interview with Blythe, King of the Yetholm .flpsies, who ascended the throne in 1848, and whose court la satiated seven miles south-east of Kelso. His Majesty, Who is in his 86th year, possesses no less than 500 acres of arable land, and is highly esteemed by his subjects. He Was extremely affable, and honoured his visit with a most pious reception.—Greenock Advertiser. IMPERIAL HOUSE OF LORDS—(YESTERDAY). The LORD CHANCELLOR took his seat on the woolsack at half-past 4 o'clock. ROYAL COMMISSION. The Royal assent was given, by commission, to the fol lowing bills : The Clerk of the Council, Manchester and Lincolnshire Railway, South Wales, Pembroke, and Tonby Junction, Tyne Improvement, Gateshead Railway, Hampstead Junc tion Railway, Great Western Railway, North British, Sel kirk, and Galashiels Railway, Caledonian Railway, Tenbury Railway, Worcester and Hereford Rail way, Lymington Railway, Great North of Scot land Railway, Reading and Hatfield Railway, Kingston-upon-Thames Gas, London and North-Western Railway (Edgehill and Garston), North-Eastern Railway (Nidd Valley Branch), Dundee and Newtyle Railway, Salford Borough (No. 2), Greenwich and South- Eastern Dock, Price's Patent Candle Company, Red Sea Telegraph, Vale of Neath Railway, Atlantic Telegraph (No. 2) ; Border Union (North British) ; Norwich New Street ; Wenlock and Severn Junction ; Liverpool Ex change; Castle Douglas and Dumfries Railway; Llanidloes and Newtown Railway; Portsmouth and London and Great Western Railway; Forth and Clyde Navigation; Cater ham Railway ; Maybole and Girvan Railway ; Hertford and Luton and Dunstable Railway ; and Sandwith's Divorce. The Lords' Commissioners were the Lord Chancellor, the Duke of Argyll, and Lord Alonteagle. Their lordships adjourned during pleasure. The LORD CHANCELLOR took his seat on the woolsack at five o'clock. PRIVATE BILLS, The Central Wales Railway Bill wi..s read a second time the Pneumatic De s p a t c h C ompany, the Merthyr, Tredegar, and Abergavenny Railway bills were read a third time and passed. _ _ COURT OF CHANCERY. Lord BROUGHAM presented petition complaining of the delay arising in the Court of Chancery. This peti , tion was in favour of appointing additional judges, but he did not agree in that prayer. PRIVATE BILLS. Lord REDESDALE moved that no private bills brought from the House of Commons shall be read a second time after Tuesday, the 2d of August.—Agreed to. DIVORCE COURT BILL. The LORD CHANCELLOR moved the second read ing of this bill, which proposed that all the puisne judges should become members of the court and take it in turns to sit with the Judge Ordinary, and form what was termed full courts more frequently, by which means, he trusted, the arrears of business would be expeditiously dis posed of. The bill further proposed that when the learned judge thought proper the court might sit with closed doors, as some of the cases that were heard there were totally unfit for the public, and could only tend to demoralisation. Another provision was that, where necessary, the assistance of the Attorney-General should be called in, and thus exer cise some control in certain cases. Lord BROUGHAM supported the bill. Lord CHELMSFORD was opposed to the bill. He thought a separate number of new judges should be appointed, as the time of the judges of the superior courts was already fully occupied. Lord CRANWORTH said he paid great attention to the proceedings of the court in question, and he must say that they had not attained that celebrity which he thought was desirable. He did not think the plan proposed would meet the evil which at present existed, but he quite agreed that the course recommended by the bill was the right one to be pursued in the first instance. He thought that one mode of meeting one of the evils complained of, was by granting a decree nisi in the first instance. Lord REDESDALE said he did not purpose to object to this bill, but he denied that the proceedings of the Divorce Court could be said to assimilate to the course which had been pursued by their lordships in divorce cases. He thought that in all cases of a judicial separation of mar riages, the proceedings should be made as public as possible. The Earl of WICKLOW said he could not understand why it was that the House of Commons struck out the clause which was inserted in the bill when it went before that house, by which its provisions were to be extended to Ireland and the colonies. It was said that a separate act on this subject should be passed for Ireland, but he, for one, wished that laws which were passed for the social improve ment of this country should be extended to Ireland. The Earl of DONOUGH'MORE concurred in the view of his noble friend who had last addressed their lordships. The object of this measure was to extend relief to the middle and lower elasses, and therefore they ought to be careful of increasing the expense. He did hope that the noble and learned lord would consider this point. The Marquis of CLANRICARDE wished to say a few words on extending this act to Ireland. They were in such a position that they must legislate for Ireland. He depre cated the establishment of any tribunal in that country. If any change was to take place there, it should be done as quietly as possible. He recommended the introduction of one or two clauses, to put an end to actions of crim. con. in Ireland, and to give relief through the courts of this country. Lord DUNGANNON thought the public morals had not been improved by the publication of the reports of this court. He was of opinion that a gross act of injustice would be done to Ireland unless they had the benefits and conveniences intended to be conferred by this bill. Lord TEYNHAM thought that the expense of the pro cedure should be diminished as much as possible. He should support the second reading. The LORD CHANCELLOR said that he could have no possible objection to introducing a clause or clauses extend ing the benefits of this measure to Ireland, and if any noble lord would take the responsibility of proposing such clauses he would make no objection whatever. In fact, he had himself prepared an amendment for that purpose, but he had been induced to give it up by the strong representations of persons connected with Ireland. In certain cases he thought the Divorce Court should sit with closed doors, and then there would be no violation of public decency. The bill was read a second time. THE ATTORNEY AND SOLICITORS' BILL. The report of amendments on this bill was brought up and received. PUBLIC HEALTH BILL. On the motion of the Earl of GRANVILLE this bill was read a second time. Lord DUNGANNON presented a petition from the clergy of Buckingham against any alteration in the present marriage law which might legalise marriage with a de ceased wife's sister. THE HARBOUR OF MALTA. The Earl of CARNARVON, according to notice, put a question to the First Lord of the Admiralty as to the ar rangements now under consideration by the Admiralty, for the redistribution of the harbours of Malta, and for the better naval protection of the town. Considerable dissen sion had arisen between the navy and the merchant service in consequence of the want of accommodation, and the in crease both in the number o f war vesse l s a nd merchantshipping requiring the use of the port. In fact, the pre sent arrangements wer e quite beneath the necessar y re quirements of the fleet and o ur merca ntile marine. The late Gave nment had a p l an before them, w hen they went out of office, by whi c h , at an expense of about £7 0 , 000, th is defect would hav e b een supplied, by converting a morass at one end of the e x i s ti ng harbours into a harbour for mer chant shippin g . H e wished to know whether the noble duke p intended to ca rr y out that lan 9 He did not say that at this period he w ou ld as k that the 'sum named should be introduced in a supplemental vote, but looking at the pressing n ecess it y o f the case with reference to the wants of our own maine, he begged to urge the completion of some such pl an a t th e earliest possible m oment. With re • spect to the latter part of his question which had reference to the better protection, it was desirable under the present state of affairs that as little should be said on such subjects as possible. He would therefore simply sonfine himself to the statement that the fortifications and defences of Malta were not in that satisfactory state which they ought to be, see ing how important a key it constituted for the defence of our commerce, and the ma i ntenance of our pos iti on as a great maritime power. He knew that the putting of these fortifications into a proper condition was a question con nected with the general subject of the military defences of the country. He knew also that of late those fortifications had in some cases been repaired and strengthened, but he was sure that the noble duke would agree with him, that look ing at the extremely important position of Malta, the port and harbours should b e put into the most perfect condition without delay. The Duke-of SOMERSET said he was impressed with the importance of the subject to which the noble earl had called the attention of their lordships. The difficulty in deal ing with the want of sufficient accommodation for both the navy and the merchant ships which used the harbours lay in the fact, that the greater the number of the Mediterra nean fleet the larger also was the number of merchant ships that frequented the harbours. That was forcibly shown during the time of the Crimean war, when the pressure upon the accommodation in the harbours was very great. He admitted that in that point of view alone, apart from the other considerations to which the noble earl had adverted, it was most desirable that some arrange ments should 'be made for remedying the admitted defi ciencies of those harbours, and he could assure the noble l•rd that the Government had the subject under their con sideration with a desire to do all that lay in their power for that purpose. With respect to the plans referred to by the noble earl he would only say that they had been prepared and sent over here a considerable time ago, and that they had been in the possession of the late Government for more than five months. When he came into office he found that, although the late Government had prepared not only the ordinary, but the supplemental estimates for the year, they did not include a vote for the carrying out of those plans. He did not like, therefore, in the course of a few days, to incur the responsibility of pressing a question which in• volved the expenditure of somewhere about £BO,OOO. The subject required some time, but he would admit that it was most desirable something should be done with the least possible delay. He repeated that the question was under the consideration of the Government, and they would do all in their power to carry out the objects in view. Lord STRATFORD de REDCLIFFE was grateful to the noble duke for the statement that this question was under the consideration of the Government, but he rose merely to say that though the question was an urgent and pressing one as far as regarded the accommodation to be given to our own shipping, both naval and mercantile, it was more important, looking at the present state of affairs on the Continent, in a military point of view. Malta was a port associated with historical recollections, to which he need not refer, but it was sufficiently obvious that the put ting of the harbours and the town into the most perfect state of defence was a question which demanded serious attention and instant action. The Duke of NEWCASTLE said he perhaps could ans Rer the question of his noble friend. He could assure his noble friend that neither ;the War Office, in the first place, nor the Admiralty in the second, had neglected this matter, and he could further assure his noble friend that the members of her Majesty's Government were in com munication upon the subject, and that no steps should be neglected in relation to it. Their lordships then adjourned. HOUSE OF COMMONS.—(YESTERDAY.) The SPEAKER took the chair at four o'clock. PRIVATE BUSINESS. The Lords' amendments to the Witney Railway (No. 2) Bill were considered and agre e d t o. Th e following Bills were read a third time and passed : Bagenalstown and Wexford Railway; British and Canadian Telegraph Company; Bury St. Edmund's Gas ; Cleveland Railway; Dublin and Drogheda Rail wa y ; D un d a lk and Enniskillen Railway; Finford Bridge and Banbury Road; Gloucester and Cheltenham Tramway Ab an donment; Kensington Station and North and South London Junc tion Railway ; Lancashire and Yorkshire and East Lanca shire Railway Companies ; Lancaster and Carlisle Rail way ; Leeds, Bradford, and Halifax Junction Railway ; London and North 'Western Railway (Sutton Coldfield Branch, changed from " Birmingham, Edringt9; and Sutton Coldfield Railway (Western Line) ; Londonderry and Lough Swilly Railway ; Malltraeth and Corsddaugau Marsh ; Midland Railway (Erewash Valley); Mid-Sussex and Midhurat Junction Railway; Newry and Armagh Railway ; North Eastern and Bedale and Ley burn Railway Companies Amalgamation; North Eastern Railway . (Harrogate Branches); Norwich Corn Exchange ; Perth, Kinross, and Fife Roads ; South Staffordshire Rail way ; South Yorkshire Railway and River Dun Company ; Stockton and Darlington Railway; Sunderland Dock (No. 2) ; Ulster Railway; Victoria Station and Pimlico Rail way ; and West-end of London and Crystal Palace Railway (No. 1). ROYAL COMMISSION. The house was summoned to the House of Lords by the Usher of the Black Rod to hear the Royal assent given by commission to several bills, for which see Lords' report. CORPORATION OF LONDON REFORM BILL. Mr. EDWIN JAMES gave notice that on the second reading of this bill he would move that any bill which did not embody the recommendation of the commission of 1854 would be an incomplete measure. MORTALITY IN TRINIDAD. Sir DE L. EVANS moved an address for copy of con tinuation of the correspondence concerning the mortality and sickness of the 41st Regiment at Trinidad, and con cerning the unhealthy location of the barracks in that co lony, dated War-office, the 7th day of April, 1859.—Or dered. NEW GOVERNMENT OFFICES. Lord ELCHO moved for copies of the official letters by which Mr. Scott was appointed the architect of theproposed new Foreign and Indian Offices.—Ordered. SMITHFIELD MARKET. Mr. K. SEYMER asked the Secretary of State for the Home Department whether it was the intention of her Majesty's Government to adopt so much of the site of Smithfield market as reverts to the Crown for the enjoy• ment and recreation of the public. Sir G. C. LEWIS said that he had seen the correspon dence which had taken place between Government and the city in reference to the subject, and the latter was ready to meet the Government in carrying out the object alluded to by the hon. member. FEEGEE ISLANDS. A motion of Mr. ADDERLEY, for a copy of any cor respondence which may have passed on the subject of the assumption by her Majesty of the sovereignty of the Feegee Islands, was agreed to. APSLEY HOUSE. In reply to Mr. BRADY, Sir G. C. LE WIS read a report from the Chief Commis• sioner of Police, to the effect that the regulations rela- tive to cabs taking up and letting down passengers oppo site the rails of Apsley House had been relaxed. It was necessary that the greatest care should be taken to prevent obstructions at that portion of the thoroughfare in question. EMIGRATION. Mr. ADDERLEY moved for returns of the total number of persons who had emigrated through the agency of the Emigration Commissioners during the last twelve months of which the reports were complete, and the names of the colonies to which they had gone. And, of the total cost of their emigration, including that of the agency of Emigration Officers and of the Board, and what portions of that cost had been provided by colonies, and how much each colony contributed ; and whether the Commissioners had any other duties besides those con nected with the superintendence of emigration ; and, if so, of what description.—Ordered. ARMY SURGEONS. Mr. PATRICK O'BRIEN moved an address for return of the names of the successful candidates at the competitive examination held for the appointment of assistant surgeons in the Queen's and East Indian aru•ies since the year 1855 inclusive ; also the names of the examiners, the place or school of medical education of each candidate, success ful or unsuccessful.—Ordered. ELECTION COMMITTEES. . Lord ELCHO, on the motion for going into committee of ways and means, drew attention to this subject and expressed his conviction that it would be most de sirable to postpone these committees until next session. He concluded by giving notice that he would bring forward the subject to-morrow. CORPORATION OF LONDON REFORM BILL. Sir J. SHELLEY again appealed to the Home Secretary not to press forward this bill during the present session, or at all events to postpone it for one month. Sir G. C. LEWIS said that he had no desire to press forward the measure, and he would postpone it until next session if the house wished him to do so. It should be remembered that the bill issued from the commis sion after a most careful investigation, and he could not see what benefit would result from the course advocated by the hon. bart. With regard to the postponement for a month, that would be useless, because that would inevitably lead to it being put off till next session. THE BUDGET. Mr. DISRAELI— Sir, before you leave the chair I wish to make a few observations on the present financial condi tion of the country, which it will probably be more conve nient for me to offer now than when we are in committee. It is scarcely necessary for me to advert to the conduct of our finances by the late Government, or to the condition in which they left them, because the right hon. gentleman the Chancellor of the Exchequer has noticed generally what took place under the late Administration with respect to our finances, and he spoke of their conduct in so fair a spirit that I am not disposed in 'any way to question his description, being quite sure that if in one very important particular he conveyed an erroneous impression to the house he did so merely through inadvertence. I may, how ever, remind the house that when we acceded to office, and it became my duty on the part of the Government to state the position in which we found our finances, and the ways and means which we proposed to meet them, the country had scarcely recovered from one of the severest monetary and in some degree commercialconvulsions which it ever had experienced. (Hear, hear.) Indeed, if we take the amount of commercial disaster as the test of the gra vity of the crisis, what happened nearly two years ago was without exception the worst state of depression which the commercial classes of this country have passed through in our time. It was under those circumstances that I was called upon to state the condition of our finances, and to propose the ways and means to this house at the early part of the year 1858. The house will recollect that on that occasion there was a deficit, if I remember right, of about four millions which we had to encounter. That deficit was met by a proposition on the part of the late Government that we should put an end to the fictitious sinking fund which had been instituted, and that we should not pay off two millions of Exchequer Bonds which were becoming due. The sinking-fund and the Ex chequer Bonds formed the greater portion of the deficit which we had to face. And it was the opinion of the Go vernment that it was not expedient, perhaps under any cir cumstance, but especially at a moment when the commer cial classes were suffering in the manner to which I have referred, to make any great increase in the taxation of the country, in order to pay off incumbrances and to reduce debt. Well, it was, I think I may say, the unanimous opinion of Parliament that we took a right course on that occasion. It was the opinion of Parliament, the country at that moment being in a state of considerable distress, that we should riot think of laying on £4,000,000 of new taxes to support an artificial sinking fund, and to pay off £2,000,000 of Exchequer Bonds for the sake of reducing the public debt to that amount. It is not necessary for me to vindicate the course we took upon that occasion. That course has not been impugned in this house or in the country ; on the contrary, it has been unanimously approved—(hear, hear) — and all the attacks that have been made upon it have been made out of doors, and I have no doubt in the same spirit, and probably by the sane machinery, with which attacks have been made upon other portions of the policy of the late Government which time has already vindicated. (Hear, hear.) The deficiency of £4,000,000, to a certain but much smaller degree, would have been increased by a re duction of the income-tax from 7d. to sd. That reduction had been provided for by law, and in the course of the year it would have effected a reduction of revenue to the extent of £1,000,000. The Government were of opinion that it would be most unwise to interfere with that natural and legal reduction of the income-tax. They thought that there were social and political reasons which ought to influence them in that decision, as well as fiscal and financial ones. It appeared to them to be a matter of the greatest import• mice that the general understanding which prevailed between Parliament and the country, that the income-tax was to be gradually reduced, and at a certain period to ter minate, should be observed in spirit at least if not in letter, and that we could not count upon the country rallying round the Government upon an emergency if, upon the first occasion, it found the Ministry anxious to relieve themselves from the engagement which had been entered into with respect to the income-tax. Our policy upon this point was almost unanimously approved by the house and the country ; and although there may have been some who thought that, under all the circumstances, it was toe hazardous a course to take, I think I may appeal to the re sult of the management of the finances under the late Ad ministration, as showing that totally irrespective of social and political considerations—looking only to financial con siderations—it was a course perfectly justifiable, and, in fact, ultimately very beneficial. (Hear, hear.) It was supposed then, by the late Government, that they would have to encounter in the year 1859-60, in consequence of the policy which they recommended Parliament to adopt, a deficiency of probably not less than £3,500,000, viz., £2,000,000 of Exchequer Bonds, a loss of £1,000,000 in the shape of the second half of the reduction of the income-tax from 7d. to 5d., and deficits amounting on the whole to about £500,000. Let me ask now, have the expectations held out by the late Government with respect to the re sources of the country been realized by the event ? We paid the £2,000,000 of Exchequer Bonds out of the balances in the Exchequer, and I may say here that the Chancellor of the Exchequer seemed to labour under a mistake when he assumed the other night that it was not the intention of the late Government to pay the Exchequer Bonds out of the balances, and that if we had,done so it was in consequence of the political and Parliamentary disturbances which ended in the recent dissolution. That is not the case. It was always the intention of the late Government to pay those £2,000,000 of Exchequer Bonds out of the balances. They found the balances in a strong state, and they in creased their strength by calling upon the Bank for that £1,000,000 which otherwise they would not have demanded, and which they were authorised to raise under a financial arrangement which the house sanctioned in 1858-9. Had we not contemplated paying the Exchequer Bonds out of the balances we should not have called upon the Bank to pay us the second moiety of that loan, but should have allowed that £1,000,000 of public debt to be extinguished. But we called for, that second £1,000,000 in order that we might meet these £2,000,000 of Exchequer Bonds, and that we should wit be under the necessity of continuing them or postponing their payment. (Hear, hear.) How then, were were we to meet a deficiency of £3,500,000 consistingmainly of £2,000,000 of Exchequer Bonds and a reduction of in come-tax to the extent of £1,000,000 ? We anticipated that we would meet it by a surplus revenue —by an excess of in come over expenditure. I estimated the revenue at a sum something like, but slightly under in round numbers, £64,000,090. It is not necessary to vindicate the conduct of the late Government upon every one of the items of that estimate. It is possible, and always will happen, that when you have at the commencement of the financial year to offer an estimate to t e house of the resources of the country, some of your items will not be exactly realised, because they must •-iiter all to a certain extent be hypothetical. All you have to expect from a Chancellor of the Exchequer is, that his estimate should as a whole prove adequate to the occa sion, and that the sums realised should not generally fall short of the calculated amounts. Au estimate of revenue which takes a whole year to accrue must prove inaccurate in some of its details ; but if you find it realises the sum which the Chancellor of the Exchequer has led you to ex pect you are bound to admit that in that respect at least he has done his duty. (Hear. hear.) What happened, then, in the year for which the late Government are responsible ? The estimate was under £64,000,000 ; the receipts were £65,500,000; showing an excess of £1,500,000. (Hear.) That £1,500,000 furnished us with resources for meeting a decline in the revenue occasioned by the second £1,000,000 of the reduction of the income-tax, and also left a sufficient surplus. It had been said that the excess of L 1,500,000 was not so genuine as could have been desired, (incurring to a considerable extent under the head of " Miscellaneous"— a source upon which implicit reliance cannot be placed. That is perfectly true, and it was foreseen by the Govern ment. At the end of the year, after the third quarter, when it became my duty to consider generally our finances, and to prepare for that exposition of them which ordinarily takes place at the commencement of April, we deducted the probable amount of " miscellaneous" from our surplus, reducing it to a comparatively small amount, and by ex tending the ld. stamp duty to a variety of instruments re ferred to by the Chancellor of the Exchequer the other night, and by some further financial operations, we made arrangements not only to meet • the deficiency occasioned by the loss of £1,000,000, upon the income-tax, but also to leave an ample balance in the exchequer. That is the general positiOn in which we should have left the finances had it not been for the occurrence of political events of great im portance, and therefoee I hope I may claim for the late Government that their management of the finances was sound in principle and prudent in administration. (Hear.) Such, then, is my answer to those who for a considerable period have alarmed the country by descriptions of our finances being conducted upon a hand-to-mouth system, of their being managed in a slovenly manner, and of the diffi cult and perilous state in which they would be found by our successors. On the Contrary, nothing we did in the post ponement of the public engagements was done without, not only the concurrence, but the unanimous concurrence of the House of Commons ; and I think the course of affairs since has completely vindicated the policy we recommended to Parliament, and which Parliament sanctioned—viz., not to waste our resources in maintaining artificial sinking funds, and not, after the catastrophe of November, 1857, to im pose £4,000,000 of new taxes upon an industrious people smarting under great disasters. (Hear, hear.) I have already mentioned that at the commencement of the year political events occurred which entirely changed the aspect of affairs and the situation of the Government in respect to the finances. It became necessary very early in the year greatly to increase the estimate for the navy, and also to make an addition to our military expenditure. No one on the other side can blame the late Government for the policy they recommended the house to adopt.. Our eonf pt_ has met with general approbation, and although the result of. our measure is, no doubt, a deficiency of between £4,000,000 and £5,000,000, all admit that our expenditure was called for by the highest interests of the country, and that no Minister could have shown himself in this house who was not prepared to make the necessarp arrangements for a crisis which at the beginning of the year seemed fast approach ing. (Hear.) Onr successors have had to meet difficulties from which we should not have shrunk, and of which we are conscious. I hope the house will not think I have said too much in vindication of our conduct. This is the first time I have noticed those continuous and utterly false at tacks that have been made upon our administration of, the finances. lam perfectly aware of the position of the pre sent Government, and I am anxious, as is every gentleman on this side of the house, that they should receive a fair and candid support. Let us now consider the course which the right hon. gentleman recommends us to take. I will, in the first place, say that to the decision to which the Govern ment has arrived of dealing with this deficiency by taxation, and not by raising a loan, I give my unqualified approba tion. (Hear.) I don't mean to say there are not cases in which even in time of peace we should not have recourse to a loan. Every one knows that such emergencies may arise, but they can occur only very rarely. Twice in the experi ence of the generation I am addressing those great emer gencies have arisen. I am not prepared broadly to lay down that even the question of the national defences, which I understand is to be brought before the house, maynot be an exception. I give no opinion at present upon ;ID wide a sub ject, which demands the most cautious investigation and the closest reflection. But I say there was nothing in the ex penditure incurred by the late Government, and sanctioned by their successors, which in its nature and amount justi fied recourse to a loan. (Hear.) Its amount, though con siderable, was not of that largeness which in this country is generally associated with sums raised in such a mannei. Treating it in round numbers as £5,000,000, we must recol lect that there had been a reduction of taxation to the amount of £2,000,000 within only a year and a half ; and I think the wisdom of the step then taken is made manifest by the position in which we now find ourselves, and by the course which the Chancellor of the Exchequer has now recommended us to take. Great as may be-the objec tion to his proposition, and great as even yet the diffi• cultiee he may have to encounter, everyone must feel what an advantage it is to him, in making this proposition, that the people of this country should remember in respect to the income-tax that the Government have already, at considerable hazard and with great difficulty, maintained their faith. (Hear.) The reduction of the income-tax from 7d. to sd. in the pound was an act which put the country , in good humour, and made them feel that this was a finan cial weapon which the Government were not inclined to re sort to except under peculiar circumstances and on great emergencies. Now, admitting that the present Govern ment are perfectly justified in the course which they have taken, and quite approving of their determination not to have recourse to a loan when the expenditure we have to defray is such as I think the country ought, when neces sary, to be always able to meet in time of peace without borrowing, I would ask the house to consider the mode in which these taxes are to be raised. I would first, however, observe, that, totally irrespective of the bad financial policy f unnecessarily in times of peace having recourse to loans, I can imagine nothing more impolitic, as regards the opinion of Europe and the world, than at the first mo ment of pressure, when an amount of £4,000,000 or £5,000,000 is wanting in order to place the armaments of the country in a proper position, to make it appear that this great and wealthy country is unable to defray such an expenditure without resorting to extraordinary measures. (Hear.) A loan under present circumstances must have produced a very bad effect, and must very much have influenced the opinion of the world as to the resources' of this country. (Hear.) Totally irrespective, therefore, of the error in financial policy which would be caused by now going into the market to borrow, I would say that nothing would have been more injudicious than such a pro ceeding, because it would have given to foreign Powers a very false notion of the resources of this country. But now as to the means by which these taxes are to be raised. The right hon. gentleman has proposed two measures ; there are two resources from which his Ways and Means are to be derived. With regard to the third resolution, relating to; he malt credit, I will at present on ly sa y th a t I think it might have been as well, when the right hon. gentleman was tak ing so considerable a step, that he should have endeavoured to obtain a larger result. I conclude that the right hon. gentleman may yet look forward to the dealing further with that source of supply, but if so I think it is only an ad ditional reason why he should have considered whether a greater result might not have been obtained at the present moment. No doubt inconvenience, if not injury, must be the result of this contemplated change ; no doubt tthis credit must be distributed over a considerable period of time ; and in making these arrangements and encountering the opposition and creating the prejudices to which they will naturally give rise, I think it is a question whether the right hon. gentleman might not have obtained a larger sum than the £780,000 which he expects from his proposal. ' Passing that over, I come to the means by which the right hon. gentleman contemplates obtaining no less a sum than £4,000,000. Now, I think it very unfortunate that at this moment, with 1860 so near at hand, the right hon. gentle man should have been forced to deal with the income tax; but I freely admit that under all the circumstances of the case, though I might think the adoption of a smaller rate was possible, the right honourable gentleman was forced to adopt that • tax to a very considerable ex tent as a means of supply--(hear, hear)—and if that be so, I do not think that it is for the house—approving the general policy and acknowledging the necessity—to split straws upon the particular amount which he is to raise. (Hear, hear.) So far, therefore, as that point is concerned I should not object to the amount of the tax which the right hon. gentleman has proposed. In so doing , however , I cannot refrain from expressing my opinion that all the arguments which have been offered to the house before, and even recently, against the property and income tax becom ing a permanent source of our revenue are not in any way enfeebled by the concession which the house may choose to make as to the increase now proposed. The opinion of the house, as I have understood it, is that the property and income tax is to be retained for emergencies. All admit that we are now appealing to it upon a state of things which is not of an ordinary character • and in agreeing to the pro position of the Government I not only see no reason to change the opinio n w ith respect to the tax which I hav e al ready expres se d, b u t I d o no t recogn ise that the right hon. n. gentleman's proposition, if acceded to, will at all interfere with the settlement in 1860 to which we have always d forward. But, although lam prepared to suppoi t l the ly epro posal of the Government, I confess I sho uld _ en its practice to modify it. I was not at at.! persuaded by any observations which fell from the right hon. entleman, T have not been persuaded by further consideration, or by the o th m at ni th an e y m ci od u e art in ers wh an ich d f in re f m orm re a p t re t n t ti c v h e h e ofm rea an ch y e e d lee m ee e e fr , the right hon. gentleman mean s m to e l n e th vy e, thi . s instead income tax, namely, in the course o of spread ing it over the year, is one which is at a ll necessary. (Hear.) That it is one against which many grave objections may be urged I think the right hon. gentleman hi mself will hardly deny. It certainly a dd s the seve r it y of the pres sure generally; in some particular te instances it accomplishes positive acts of injustice—(hear)—and, thirdly, it is not only an injustice, but in some cases wi ll prove absolutely im practicable. I will not trouble the house now by going into this point, because that will be better done in committee. The cases which might be mentioned, however, are nu merous and glaring, and I will answer for it that the more the proposition is considered the greater will be the objections and the more grievous the instances of indivi dual injustice and individual injury, (Hear.) If that ge neral description of the objections to this arrangement be a id edeeseither u t just one, I cannot see wh y the right hon. gentleman s h ou ld persist in it. Wehc be aumtwbedraewant, b I conclude,inthhwatietl should e or i o in is that this our L4 permanent 0 s e ha nt ll not n P be a de frayed out out of the taxes of the country. (Hear.) If the house is in that mood, as I believe it • • is, it can give the right hon. gentleman a first-rate security ; and I cannot under stand that any Chancellor of the Exchequer, much less one of the resources of the right hon. gentleman, with first-rate security for raising £4,000,000, will not be able to obtain the accommodation that he requires without visiting with unnecessary severity and annoyance the great body of the taxpayers. (Cheers) I should therefore be inclined, al though I trust that it will be unnecessary, to move in com mittee an amend men t t o om it th e l ast two lines and a half of the first resolution, which would render this vexatious ar rangement nugatory, and give to the right hon. - , 'gentleman all the resources he desires. (Hear, hear.) Now, Sir, I have touched on the conduct of the finances by the late Government, and I have, I hope, with candour, t rea t e d t h e proposal o f her Majesty's Government. I offer them as much support as financial schemes have-a right to expect. Some criticisms they generally occasion, and someobjections; modifications are sometimes offered, and occasionally ac cepted. I hope the right hon. gentleman will accept this. I make no opposition to direct taxation. I have no wish to diminish the present amount of direct taxation in our existing financial scheme. That it may take a form less unjust and 1 obnoxious ultimately I for one sanguinely hope. (Cheers.) I have long believed that it is possible to raise the same amount of direct taxation as at present without having recourse to an impost the objections to which never can be cured, and which is never felt at a moment of public emergency, when you appeal, and rightly appeal, to the higher feelings of the country. (Hear.) Therefore, in times of war, or even in war like times though times of peace, this is an instrument to which the Chancellor of the Exchequer may always appeal with confidence. It adds greatly, if not abused, to the influence of this country with foreign countries, and is, in fact, as important to this country as fleets and armies. The consciousness that this country by a single tax, if neces sary, at a moment of exigency, can raise a sum as great as those loans that despotic monarchs raise with so much dif ficulty, at a high rate of interest, and to which they appeal with so much boastfulness —the knowledge that by a single tax we can, in the ways and means of the year, give our Sovereign a sum as great as those leans which sanction aggression and invasion—this is one of those great facts that influence the minds of nations and of Cabinets, and is a source of strength to a country that is incalculable. That is one reason why we should not fritter away this treasure. And although it may be desirable to appe a l t o the income tax at times of great commercial change or risk to enable us to effect reforms, we cught not to l oo k upon this as the habitual creat u re f our financial schemes. And every scheme consistent with sound finance will reserve the income tax as a weapon in our armoury which ought not to be used for trifling and common purposes. (Cheers.) Sir, there is one other point to which it is my duty to call the attention of the house—l mean the general condition of our finance. The right hon. gentleman has had great difficulties to encounter this year. The prospects of this year under or dinary circumstances are extremely perplexing, but under the circumstances that have sprung up of late in Europe, and which are still in a state that occasions anxiety, the financial position of this country in time of peace ought not to be passed over without notice. We are now raising a revenue of nearly £70,000,000 per annum in time of peace. There is no country that can go on raising £70,000,000 a-year in time of peace with impunity. (Hear, hear.) England cannot do it, and if England cannot, no eountrY cail de it, (Hear, hear., How are we'o meet this grear and gro ing evil? It is useless to throw the blame on the Govern ment, to whatever party it may belong. There are no persons so interested in the economical administration of the country as the Government of the day, whatever party they may be of. (Cheers.) The struggle againvt expendi ture is always a struggle between the Government and the public, or between the Government and public events. The position of a Minister is much more easy, much more agree able, when he has not to lay on taxes ; and nothing has so much led to the destruction of Governments and the injury of parties as having to deal with national finance at a period of confusion or deficit. And we shall do nothing by mak ing declamatory speeches in this house and the country, and in enforcing what we call an economical admini s t rat i on unless we ourselves take the question in head, and see how far we can assist the Government in that great and neces sary result. (Cheers.) Now, sir, a great deal has been said about the civil service expenditure of this country, and I have heard it said that we are to obtain great results in re ducing the civil service estimates. I look upon that as quite delusive. (Cheers.) The Government of this country is upon the whole an economical Go vernment," and if you analyze the expenditure of the civil service estimates you will find that it is an expenditure really for the advantage, the welfare, and the advancement of the great body of the people. (Cheers.) The administration of justice, the education of the people, the. health of the people, are the three great richn l anc t ip m glee a ss y ua be pore true, and im aid then i e t ds n eed o m d ineas o a u y b ure t: es true, a ur o t un h s aodtfe some expenditure.ln and eof these the l exaggerated. There may be, no doubt, in the administra tion of the funds some expenditure that may be avoided. Sometimes there may be a secret job to be detected; but, if you look to the main objects and the main re sults, what are they ? You have an expenditure to in sure order, to insure education, and to secure the health of the people. Why, these are the three great sources of public wealth. An educated, an orderly, and, above all, a healthy people, are the three principal sources of public wealth. And if we in a moment of difficulty make war upon this expenditure for the civil services, and reduce the items of expenditure for these three sources, we are really making war on the civilisation of England —we are really making war on that progress which everybody is so fond of appealing to, and which every one is so ready to assist. (Hear, hear.) And therefore I hold that although these civil service estimates may be prepared with care and re vised with strictness, this is not the source from which we can obtain that relief and - those ways and means for which the country languishes. Now, sir, let us approach the great sources of expenditure in this country. They are enor mously increased. (Hear.) If we were to follow the advice of some, even of many in this house and the country, they would be still further increased to a very great extent. (Hear.) Great as is the expenditure, we are still told that the defences of this country are most imperfect. (Hear.) Vast as have been our preparations, we are still told that the honour of England is not safe, and that it becomes us to make still further exertions—that our fleet ought to be increased--(" hear, hear," from Sir C. Napier, and a laugh)—that our army ought to be increased—and that other means should be taken for rendering the position of this country more powerful and satisfactory. Well, then, what are the ways and means that ycu have to encounter? You have great difficulty in meeting the burdens that it is necessary to bear. How, then, are you to encounter the future prospect that is so frequently held out, of a further expenditure for armaments and defences ? Now, sir, I have once or twice endeavoured to impress this house that- when you come to public expenditure on a great scale, expenditure depends upon pclicy, and when those who sit in this house dilate upon the expenditure of this coun try, deplore the waste of our resources, and then call upon the Minister to reduce that expenditure, and administer with more ability the ways and means placed in his hands, when we do this we are in fact doing nothing. The minis ter only maintains that expenditure which upon the whole the policy of the country demands, and you are resposible for the policy of the country at this moment. (Hear, hear.) What is our present policy? 'What is our future policy? There are two points of your policy that you must not ne glect if you are sincere in your determination that this country shall not be involved in difficulties far more perplexing, and fromwhich it mill require the greatestest sacrifices to extricate her. There are two points of policy pressing upon us at this moment which it becomes the duty of the Houses of Par liament to consider fully, and respecting ,which they must require from those responsible for the administration of affairs the most precise views and the most accurate blew ledge. A little while ago—not more than two months ago —European war seemed impending ; a most sanguinary struggle in one European country had commenced. It had now terminated, and in a manner most unexpected, and even at this moment the house had scarcely recovered from the surprise with which it received the news that a struggle which many expected to last for years had suddenly been brought to a close. Now, he took no part in the transactions that led to the com mencement of that war. It was the policy of the late Go vernment under those circumstances to maintain a strict and impartial neutrality. It was misrep resen t e d f or a time, but th e country has already, I believe, done us jus tice in that respect. (Hear, hear.) Although from some speeches which were delivered from their (the Opposition) side in the last debate, when I addressed the house from the Government benches, it might have been supposed that our successors were on the eve of adopting a policy of a very different character, although it appeared as if a policy of a wholly different character must ensue from a change of Government, yet I have the satisfaction of knowing that no sooner had the new Government taken their seats than they announced their intention to follow in the footsteps of their predecessors upon foreign affairs. (Hear.) That was a very satisfactory statement, but events have occurred of se much importance and with such rapi dity as to add immensely to the value of that statement. There is an armistice that produces a peace, which is wel comed by every one, not only on account of the interest which all feel in the restoration of peace, but what I think is still more interesting to this country, because we were not at all mixed up with the commencement of the struggle, - . nor are we in any n way responsible for its conclusion. Now, we hear there is a prospect of a Congress or a Conference, but that Congress or Conference is to be attended by the neutral Powers. The moment either of these Poweis at- tends such Congress or Conference it ceases to be neutral — (hear, hear)—and not only ceasesto be neutral, but becomes responsible for the past as well as for the future. (Hear, hear.) I make no criticism upon the peace that has been arrived at. The Emperor of the French was denounced a few months ago because he would make war ; he is now denounced because he will make peace. But let us look --- at the position of England with reference to the st ar tli ng transaction at Villafranca. There are two things. First of all, we have peace. lam not at all disposed to treat that peace with the contemptuousness which some persons already exhibit. I believe peace to be a great blessing, th a t th ere i s no country in the world that benefits more by peace than England, but I believe that, materially speaking, peace was more necessary to every country in Europ e th an i t was to England. (Hear.) We have gained this great result by it, that it has given an impulse to our commerce and stinau-• lated the energies of our citizens. That is a great blessing. Then, as to the political and diplomatic considerations con nected with this peace, what do I see ? I find that not only we have a peace, but we have a peace concluded without disturbing that political equbrium which England has always declared to be her main object. Is that a slight matter to us? I say, viewing the startling events that have occurred in Italy from an English point of view, that both because they give us peace, and because that peace respects the balance of power, to maintain which we have in other times lavished millions of treasure and hundreds of thou sands of lives, and therefore, as Englishmen, we ought to look upon that transaction with great satisfaction.. All the fruits of recent events which are satisfactory we enjoy the benefit of. For those results which may not be satisfactory we are not at all responsible. Will you, then, thrust your selves into a business with which you have no connection — (hear)--in relation to which you stand in a satisfactory position ; and will you thrust yourselves into it from mere motives of public vanity, that you may say England has a hand in the settlement of the affairs of the world. (Hear.) Some of those settlements rise like exhalations and disappear like exhalations. Will you quitthe vantage ground you now occupy, and for such mean and vain objects? Will you thrust yourself into Congresses or Conferences, where. you may enter into engagements which will result in confusion, and will involve us in proceedings that must prove mos injurious to our resources, and from which we can only. reap disorder and ruin. (near, hear.) In 1815, when we had the Congre ss of Vienn,a, England could not refuse had e to send a representative to that great Assembly. taken too great a part, h a d b een t oo ac ti ve a party for a series of years, to allow her to shrink from the responsibi lityments of her own conduct. But what, were the engaßee there that we entered into at the Congress of Vienna? Tie entered into engagements which rio British Minister__ i f t n , i nad self would ever have contemplated, and which,. if been known beforehand that he would be required . to . at attach his signature to, would have led an alarmed and in . dig,nant House of Commons to prevent him . from attending that august assembly. By the Treaty of Vienna we have glu iran: teed the Saxon provinces of Prussia. It was by an acci dent, by the representation of urgent interests a' t that Congress that England was entrapped, I may as y into one of the most solemn and unqualified covenan ta this country ever entered into. We are told now &at the next war is to be against Prussia. How, then, shall we stand in the case of war between Prussia and. e great Power with this article of guarantee entered hal to by the Treaty of Vienna ? If we now send a Minister to the Cf,M gress or Conference—l don't care whether it meets at Zo.rich or at Paris—what will you send him to do ? To do wiling/ which would be only the symbol of our insignfficar ace.; or t 4 enter into engagements which must involve us is c ixreased