The Sun. — London, England, 1858-05-04 00:00:00

I, and f year es re- position is incapable of proof: (Hear, hear.) There was one point of the hon. gentleman's speech. however, in which I entirely concurred. I deplore as much he does the great expenditure of thi.4 country in armaments, and I regret that the state of affairs should render that expenditure necessary. (Hear, bear.) Ido not, how euer, despair that—not immediately, perhaps, but in a few sensing, and when some of the Excitement that has Prevailed unhappily of late has passed away—the who dom of Cabinets will bring about such a rednctien of Military expenditure expenditure as would be beneficial to the interests of all ratios s. (Hear.) But that is only to be done by frank communications, by encourag ing a spirit, not only in this country, but among our More immediate neighbours, not of that exasperation Which unfortunately has prevailed of late, but of mutual kindness and confidence, and which, notwithstanding the sneers we have heard, we must all see it to be the interest of both nations to_ encourage; and the great body of the-pop u l a ti on t o a d op t an d sanc ti on . (H e a r , h ear.) This is not an occasion on which I ought to touch on these points, but I have not brought them into debate. (Hear.) Unquestionably expenditure de pends on policy. I make no comments on the 'policy that is past, but I say for that which is at present pur sued that it has no other objects to maintain than the honour of this country and to conciliate the kindness of foreign nations. (Cheers.) Mr. WILSON said Mr. Gladstone had observed that the late Chancellor of the Exchequer might, if he thought is Proper, have approp r i a t e d the sums that were in his hands t o p ay o ff t h e E xchequer b on d s . The righthon. gentleman, however, must know that the state of the law and the state of the facts prevented his doing that. The late Chancellor of the Exchequer had four millions and a half of the war income tax at his disposal last Year, and they had two'rnillions, in bonds falling due, but he had no authority whatever to pay off those bonds out of the sum in his bands. The only way in which he could have paid them would have been by going into the market and p ur chasing the bonds ataaextravagant p r ice. lie had no means of receiving the money, because the Sinking Fund Act required that any surplus there was at the end of a quarter should be applied under that act. The charge,,therefore, against the late Chancellor of the Exchequer was entirely unfounded, inasmuch as it was impossible for him in the state of the law to apply any Money last year to the payment of bonds due this year. There were some points in the budget which appeared to him ro require explanation. He could not briog him• self to believe that the calculations of the right hon. gen tleman would prove to be correct. The Chancellor of the Exchequer stated that in the last year the receipt from customs was 23,100 0001., that the actual receipt was 23 ,300,000/. ; but 200,0001. bad been left in the hands of thecollectors for he purpose of paying the sale -488 ; and that, therefore, the actual receipts should be taken at 23,300,000/. Now, though there was a balance of 20 0,0001. left in the outports this year, there was a ba lance left .1 207,0001. last year for the same purposes, and therefore the right hon. gentleman was not entitled to take credit for that 200,0001 as_ a balance which Would be applicable to the expenditure of the present Year. Again, the right bon. gentleman admitted that there was a sum of 400 000/. in the receipts of last year, Which properly belonged to the year before. That 400,000/. was nearly 600,000/., and it arose from the additional quantity of tea on which - duty was paid. If that were so; the right hon. gentleman would have to *how that he would have an increase of 900,000/. on customs upon the receipts of last year. Then with re gard to the Excise, which the right hon. gentleman had taken at 18,600.000/., and in which he expected an in• crease of 300,0001., notwithstanding the exceptional Mr cnnestances of last year. With regard to the Post-office, the right hon, gentleman had taken an increase of 200,000/. • He did not ex met that increase from the re eiPtB, but on l y f rom the balances which he said were to the ponds of the country postmasters. Last year, Weizichever, there was a b a l ance i n t h e i r h an d s o f 390 , 0001 ., ought to go against the 300,0001. balance this y e ar. He did not think the right hon. gentleman had .e "..ht to expect a general increase in the revenue this gea r as compar e d w ith l as t year. Th e expor t s t o th e c ited States had fallen off . in the first three months of this Year, as compared with the same period last year, from 6 ,246,000/. to 2,168,000/. ; and the general exports : ) , i :the cou n t ry h r d f a ll en off 5,300,000/. during the first e 7 r ee months of the year. - Mr. Gladstone said • had a strong objection to the income tax, Wh• ich was not only inquisitorial, but immoral. ▪ iv, he could not help thinking that they were apt to overrate the objection there was in the country to the income tax. That objection arose from ancient times, when it was supposed that when the war ceased the tax should cease. There was no tax so little liable to evasion as the income tax. The only schedule order which there could be any evasion was schedule D, and there was only 20 per cent of that which was sub lect to evasion. He thought there should always be kept up an income tax of small amount ready to be ex- Pesnded in cues of emergency. He looked upon the re duction of th e i ncome tax which had just taken place as 1 10 first re t rograde step in the policy of the last 20 years. n ee 1341 they had kept up the income tax for purpose of repealing indirect taxes—a policy which had been most successful. The stamp on cheques, he thought, Would inflict great injury on trade. He believed that a t his moment there were nears) , 50 than 40 millions de- Posited in joint-stock banks in London, the deposits in Which had not been made by the withdrawal of deposits ?!em private ba n k s . Alt eget h er there were a 100 roil hone deposited in banks in London, 50 Millions in Scot -I,ned, and in the pr ov i nc i a l districts England an d Ire land a 100 millions more, making 250 000,000/. alto- ' geth er in small sums aggregated for the use of trade. Arad of late banking had become general even' among seasmall trad ers an d farmer. And -this great economy of all it was pr o p ose d to i mper i l b y the imposition of a r n eii i nv stamp on c h eques. It was true this was proposed ' 48 i 5 ; but there was war they. If this tax should interfere to th e ex t ent o f on l y 10 per cent, wit h b an ki ng erations, the loss to the country would be four times Greater than the produce of the tax. He thought the income tax should not have been repealed. There were coties on silk, and on many small articles of manufac ture, bringing in less than a million altogether ; and it ' was to prevent smuggling with respect to those duties • that it was necessary that the luggage of passengers coaling from France should be searched: It should dalso be remembered that there was a large protective uty on fo re i gn sp i r i ts. T hose dut i es shou ld b e got of befo re they repealed the income tax. They teked o f getting rid of the income tax in 1860, but `,.' O W were they to do that—seeing that there were 0,000,000/. duo on Exchequer bonds, and that they W e re postpon ing t h e payment of them till 1860 It was id that they w ou ld h ave t h e l ung annuities fal l ing i n ; e tt-tot only would they have to set against that the expiring income tax, but they would also have to pre ride for a f a l l i ng off in the tea and sugar duties amount i,ng to 2,400,000/., o r 1,600 , 000/ . if they made the most i 'vouratl e estimate for increase"' consumption. (Hear.) right hon. gentleman, when ha was pressed upon the Point, said he did not bind himself to the obligation of r epealing the income tax ; but the whole tenour of the tight hon, gentl e ma n ' s sp eec h went on the assumption at faith. must be kept with the public and that the in r'ome tax must be extinguished. (Hear, hear.) It was boIIY titne th e y l oo k e d t h e quest i on i n the face. No dy beli eve d the tax would be got rid of ; aad to make it abolition an excuse for the present budget was only a.ddi n (4 _ g ornbarassment to the finances of the country. „'art) It was true that bolder and more manly lan rge was held ; for what tax was there that would net 1 colsopular if those who should •be its 'defenders were e. first to point out and exaggerate its inconveniences 11d defects ? He (Mr. Wilson) could not nelp looking Present difficulties only toincreave future ones ; and that e rl o ae in reality a reaction from the policy under which the ii_Otry h a d prospered in so remarkable a manner. ''?.lr WILLOUGHBY objected to the income-tax o co ',true of peace, because whatever they did with it they h u 'd not make it just. He thought that the Exchequer bit d 8 should have been converted into 'die ordinary ill so as no t to embarass future operations. ▪ r. S LANEY protested a ga i ns t th e a ss e rtion of Mr. ceiel.lreig the bl finance rud t, r th en a s t uitpori toewasthe desire of the house to impose un poor. He took a favourable view of of the country, as its resources were yearly Increasing. Mr. HAMILTON defended the right hon. friend the Chancellor of the Exchequer from the charge of having, as the hon. gentleman (Mr. Wilson) appeared to think ! ir eneetimated the probable income of the country dur ing the current financial year. For a long period the futimates f various Chandeliers of the Exchequer had almost always been considerably within the amounts tetually rea li se d ; an d h e s h ou ld be curry, the-refore, if he budget of his right honourable friend were to ferns an exception to that rule. (Hear, hear.) He believed, I,wever, that no esti ma t es b a d eve r b een mote care -otiy scrutinised wiih a view to avoid such a The money actually paid into the Exchequer e i s ider the he a d of custom during , the year ending the 44 t of 's March last was 23,109,000/. ; and the hon. gen tleman , (Mr. Wil son ) w i shed to know how it was his 'got hon, friend estimated the receipts of the current y e ar at 23,400,0001. In the first plac e , th ere was a 'dif t . er ence betw een t h e b alances in the hands of the collec tors at the beginning and the end of the last financial year amounti ng to 117 . 0 00/. ; and there was, in addi tion to that, a sum of 63,000/. which bad been advanced !)y tho board on account of pensions, and now due fro m the t reasur y t o the customs. Those two sums made a tot a l of 180,0001., which left only 111,000/. of the excess in the estimate of the present year to be accounted for. Now, the ordinary annual iner.-a-e in the consumption of Sugar was calculated at 200,000 cwt. at 13c per owt, , Whi c h made 130,000/, I n lik e manner they might refl..- konably expect a similar increase of 60,000/. in tne article of tobacco, and an increase under ten minor heads of revenue' amounting to 120,000/., making a total increase of 3 10,G00/. But from that it bad been thought right , t 0 make a deduction in respect of the estimated l oss on t he tea and coffee duties, arising from the excessive a mount which had paid the duty last year. The dinii• nutio n in the quantity of tea was taken at 3 : 1 million P o unds, whi c h a t is. sd. wo uld come to 170,000/. The 4 * on coffee was put down at 30,000/. ; and deducting t he total estimated loss of revenue (200,000/.) from the total estimated gain, there would be a balance of .10;00011., the sum required to justify his right hon. tends increased-estimate. (Hear.) It was perhaps hardly fair at p resent to d raw any i n f eren ce with regard of the yield of the coming year, but so far as the receipts st month went they were perfectly eati.factory. e" -b ag the total estimated receipt of 23,400,000/. by a etheY would get 1,950,000/. per month ; whereas they " Re'suan Y received 2,105,0001., being an excess of inlaunsdtoms e te 5,0001 ., a difference which, if sustained throughout oe c whei ° Year, would make an excess under the head (vial to 900,000/. (Cheers.) With regard to th e c !- e "nite n be bad carefully contrasted each item of lot:nte with the actual receipts under the same head as. j uatif year the result appeared abundantly to tnateli ' 8 right bon. friend in putting the total esti krit,y.rocne from excise at 18,100,000/. It was most ' l ' gto observe the extraordinary rapidity with which our rePources bad recovered themselves from she de pression under which they laboured in November last. IL- ,greed with the hon. gentleman opposit, that they ought not to look with deqrondency to the future, but that they had every reason to indulge, if not iu sanguine expectations at least in no unfavourable forebodings. (Hear, hear.) With regard to his hon. friend's (sir H. Willonghby'Q) suggestion on the subject of converting the Exchequer Booth into Exchequer Bills, he must re mind him that the Exchequer Bill market was a very sensitive one, and that this was not a time at which to venture upon_anv rash experiments. (Cheers.) Mr. CAYLEY made some observations on the finan cial measures of Sir R. Peel. Mr. W. EWART opposed the principle of the stamp upon cheques, and objected to the budget as not con formable with sound principles. The bill was then read a second time. STAMP DUTIES ON .DRAFTS BILL. On the motion for the second reading of this bill, • Mr. T. BARING said that a few days ago, he pre sented a petition against this bill from a body of men whose transactions and character were second to none in the kingdom, the members of the Stock Exchange, who opposed it as contrary to the sound principles of taxation. He was so unwilling to do anything that would disturb the budget that his should not take any active part in the matter, but he did share the doubts of the petitioners as to the soundnese of principle of such a tax. What reconciled him to it was that the Chancellor of the Exchequer took it fur the purpose of making a eurplol. He said that he wanted a surplus. Every Chancellor liked a surplus, and the house were seldom unwilling to give it, and so that he might not be left destitute, the Chancellor of the Exchequer said, "Give me a penny." (A laugh.) The appeal was so touching that he was inclined to say, " Take 2d. at once." (A laugh.) It might be thought that the stamp would fall on the bankers, who were airich class, but they were a shrewd class, and had determined to put it on the cue oilier. It was a tax on correct accounts. It was true it was a very small tax, but itLwould cause much in convenience. M. Si - ney Smith had given an amusing aceeunt of the life of an Engli,=htuan, from his taxed cradle to his taxed grave. (An hon. member : You mean Brougham.) He be ieved it was Sidney Smith, hut there was room now for a history of commerce which was built up on stamps from beginning to end. He sugge'ted that cheques which had passed the clear ing -house, and were paid on the day of date, should be exempted. Mr. GREAVES did not intend to oppose the tax, but he thought it would operate as a check upon the drawing of cheques ; and it was to he regretted that it was not withheld till after the committee, who were considering the whole subject, had reported. Still, be so approved of the general provisions of the budget that he would not oppose it. There had been a meeting of bankers on the suhj -et, and they bad resolved not to oppose the tax, but they hoped that more time would be allowed before it passed through committee, in order that some incon venience might he obviated. Mr. BAI MB said the tax was one as little objec tionable as any that could be proposed. He did not share in the apprehensions that it would act as a check on the banking system. The present system had pre vailed so long that the public were too familiar with it • advantages to g i ve t h em up for t h e sa k e o f a penny. (Hear.) In Scotland, where the sy-tem was older than in England, there we. not only no opposition, but some expression of feeling in its favour. He thought it would act as a hardship to no one. Perhaps in a few places in the country, where the cheque system was as yet rather an innovation, a large cheque might be occasionally sub stituted for several smaller one , . That might also be the ewes in some of the larger houses, which were even more close-fisted and short-sighted. (A laugh.) The objection that it would do so generally was one which came ill from bankers, because, if that were so, they would save the labour of a certain number of clerks, so that it would be, in fact, a saving. But, what they were really afraid of was, that some liberal banker should offer, as an ad vantage to the customer, to pay for the stamps, in which case they would all have to follow the example, and It would become a tax on them. Air. TURNER had presented a petition from a consi derable number of bankers and merchants at Manches ter, who objected to this as a step in the wrong direc tion. It was a tax on commerce. ' Its only merit was its smallness, but it would be a tax, and would tend, though he could not say to what extent, to restrict the use of the cheque. The latter was a conve nient and economical substitute for the circulat ing medium, and the restriction would compel the use of a larger quantity of the precious metals. He did not think so large a. revenue as was expected would arise from the tax, as instead of taking a receipt for the sum paid by means of a cheque, the person drawing it would after wards get. it back from his bankers to serve as a receipt. Sir G. B. PECHELL asked whether the cheques issued by loan societies would come under the operation of this bill ? By their special act they were exempted from all stamp duties. Mr. WILLIAMS did not share in the objection to this tax, or think it would be a restriction on trade. Of course all taxes were objectionable, and nobody objected to them more than tradesmen ; but life reduction of other taxes, including the receipt stamps, and the reduction of the postage to a uniform rate, were recent improvements which quite compensated for that. Mr. S. EWAAT suggested that postage stamps should be used for this purpose. Colonel SYKES suggested a stamp on tradesmen's bills above 10s. (A laugh.) After a few words from Mr. DENT, The CHANCELLOR of the EXCHEQUER said that the bill had been opposed by gentlemen who said that they objected on principle, as it introduced restrictions on com merce, but the fact was that the bill only sought to extend a principle which was already part of the law of the land. (Hear, hear.) That being so, the exemption could not be justified on any principle whatever, and ought no longer to be permitted to exist. (Hear.) The law was that every barker's cheque should pay a stamp, and he need not now discuss the principle of the exemption in favour of cheques drawn within a circle of 15 miles from the b4nk at which the cheque was payable, for no one had at tempted to vindicate it. (Hear, hear.) Objections had been raised on the part of the gentlemen of the Stock Ex change, and if there was any body of her Majesty's sub jects more remarkable for ingenuity than another, it was the gentlemen of the Stock Exchange. (A. laugh.) Accord ing to the arguments of that acute and ingenious body of gentlemen, they would suffer injury and inconvenience from the tax, which they at t'ne same time said they could evade. (Hear, and laughter.) He had that confidence in the in genuity of the members of the Stock Exchange, that he had no doubt they could. (A. laugh.) While he was sure that they would not care much about the impost of ld., he had no doubt that if they had any artificial arrangements which the stamp would interfere with, they would adept themselves to circumstances, so'as to get rid of the incon venience. But, if so, where was the injustice to them? (Hear, hear, and a laugh.) And if, on the other hand, they find it more convenient to use a stamp, where then was the injustice of making them pay a penny for that convenience? (Hear, hear, and laughter.) It was, in fact, a tax on convenience, not on luxury—(hear, hear)—and when they remembered the great reduction in their income tax, and reflected that Government could not reduce and finally extinguish the income tux unless the revenue of the country was substantially built up by means like the pre sent, he was sure they would soon cease to murmur about the stamp. (Hear, hear.) As to the complaint that com merce was restricted by a system of stamps, he would re mind them that by this new system of taxation by stamps there was no interest that had been so much benefited as commerce. (Hear, hear.) Commerce had benefit e d mos t by the reduction of the rates of postage, and the hon. member who raised theobjection being perhaps the greatest among commercial men, he might be said to have profited the most. (Laughter, and hear, hear.) The suggestions which had been thrown out were such as could not be con sidered now, as they did not affect the principle of the measure, but they might be brought before the committee, who would, no doubt, failly consider them, though he could not hold out any promise that he would sanction them. In answer to the hon. and gallant member for Brighton (Sir G. Pechell) he could only say that if benefit societies enjoyed any exemption it would not be interfered with by this act. [Sir G. Pechell—l said loan societies.] He believed he had entered as much as was necessary at this stage into the question; he did not understand that there was any serious objection on principle. He was glad to hear from the hon member for Montrose that the peo ple of Scotland— another class of her Majesty's intbjects, probably not inferior in acuteness and ingenuity to the gentlemen of the Stock Exchange—(a laugh)—approved of the measure. (Hear, hear.) He should nowask the house to sanction the second reading of the bill. The bill was then read a second time, and ordered to be committed on Friday. In reference to Mr. Ewart's inquiry as to postage stamps,_ Tb - e CHANCELLOR of the EXCHEQUER observed that the question had been considered, and there were very great difficulties, but it was not entirely decided, and ho should speak on the subject in committee. Ti-1E INDIAN QUESTION. The debate on the Indian resolutions was then resumed. Mr. AYRTON, in using to move the amendment of which he had given notice, said that he did not think that the nature of the existing Government was understood. In his amendment he proposed the substitution of the words "Minister of the Crown" for more precise terms, because, though he did not wish to enter into a merely ver bal discussion, he felt that if the name was of any value at all, it was as being consonant with the nature of the office, and they could not give a name till they had settled the duties and practice of the office. He should therefore propose that the fixing of the title of the Minister should bo left to those whose duty it would be to bring in a bill founded on those resolutions, though of course it should be a Minister equal in rank to a Secretary of State. (Hear.) He should also propose the insertion of words to set forth the purpose of the resolution, this being the only one in which the p ur p ose was not explained. Being anxious, then, to secure individual responsibility in the members of council, and a controlling influence over the acts of the Minister, be should propose in resolution No, 2 to leave out after the first word "that," and insert "in order to ensure the administration of such Government with due care, caution, and efficiency, all the powers and duties now vested in the East India Company, the Court of Direc tors, or the Court of Proprietors of the said Company, either alono or with the approbation of the Commissioners for the affairs of India, shall be exercised and performed by a Minister of the Crown in council." c h o e l l b e c e speech on of re t and learned the votes whichgentleman Lord STANLEY—I confess that when I heard the introduction of the bill of the oble s lord (Palmerston), h g gave—first, felt-- fi rs somet o sur priseth and, secondly, on the proposition which was submitted to us on Friday last, for the whole of the hen. gentleman's speech to-ni g ht was, in its practical effect an argument in s now favour of th e G overnment of India a , .don bythe East India C ompany, and against the conduct stte Go vernment by a Mi n i s t er of the Crown. (Hear,. hear.) He has spoken of the risk of leaving the Go v ernment to Minister; of the secrecy which would attend'his admini stration ; of his practical irresponsibilit y action and his and of the danger which w ou ld result from such se cr e c y and irresponsibility. If I b a d so little faith as the hon and learned gentleman appears to have in the efficacy of a Parliamentary check, and of the control to be exercised by this house, I confess I should have thought twice, and should have hesitated long, before I consented to vote for a transfer of the government of India to a Minister of the C r own. Now, what is the object which the hon: gentle man proposes to attain? He wishes the duties of the Home Government of India to be performed by a Minister of th ) Crown in council. It is true the bon. and learned member drew a distinction between the acts of a Minister THE KN, MAY :4, 18.5 r~T3TfALiA: - We have frereived by special express our trail:in Advice , by the overland roqt- via Mare lit.s. The, dates ari--Mr.lbourne, March 17 ; Sydney; March 11 ; King George's Sound; March 23. The fidloWing vesels had arrived in the port of Melbourne :—From Loudon ; Siam, Clarissa Bird, Hindostan, and Queen of the Elst,. Feb. 24 ; Charles Napier, Feb. 26 ; Wild Ringer, March 9 Esmerald, March 16. From Liverpool; Anglo. Saxon, Feb. 15 ; Caracrtacus, Feb. 16 ; Herald,Feb. 20 ; Oceatiica and Caribou, March 10 ; Men.' chant Prince, March 15. "VICTORIA. The following are extracts from the summary of the Melbourne Herald of March 16 : One great event has signalised the peliiical his tory of the past month—it is the fall of the second Haines Ministry, and the reinstatement of Mr. O'Shana.ssy at the head of the administration. The immediate cause of the retirement of the late Minis try from office was a vote of the Assembly, rejecting Mr. Haines's scheme for apportioning the electoral districts under his new Reform Bill. Having car ried the clause embodying his new principle of giving representation 'o minorities, but only after much sharp discussion, and by a narrow majority, Mr. Hain es ' s proposed plan for a re-distribution of, the general representation came on for discussion. The plan gave much dissatisfaction to the great body of the Ministerial supporters, since its direct effect would have been to absorb many of the rural constituencies of which they were the representa tives. Hence, when the schedule was mov. d for adoption, a strong opposition to it was at once avowed on the Ministerial side ; and Capt. Clarke, formerly surveyor -general, and member of the first Haines Ministry, moved an amendment, amount ing in effect to direct rejection of the schedule. His amendment was carried by 26 votes against 18, and of the latter no less than nine were votes from the opposition side of the house. The conse quence was that the Ministry saw the main holy of their own supporters arrayed against them on a question which they, rightly enough, held to be a vit 11 one. There was no course, therefore, re maining open to them but one—resignation, and they resigned ae,c3rdingly. _ _ F. , r three or four days after the resignation an unusual atid significant pause took place in the arrangements for appointing a new caqnet. People began to wocder what was going forward, and all sorts of sinister rumours were set afloat. Subse quently, Capt. Clarke was sent for by his Excel lency, and asked if he would undertake the forma tion of a new . Ministry. On one condition, he said, he 'would con , ,ent to do so—that in case of a failure in the As-ernbly at first, the Ministry he should form should be permitted to appeal to the country. To this - his Eicellency replied that he had formerly refused that condition to Mr. Haines, and could not, therefore ; grant it to 04pt. Clark.. The latter gentleman thereupon recommended his Excellency to send for Mr. Chapman, wile) had t%ken the lead in oppo4ng the ministerial principle of representing minbrities. That gentleman having been summoned accordingly, he commenced the formation of a Ministry ; and by calling in Mr. O'Shanassy to take the chief place, while lie re served that of Attorney-General for himself, he succeeded in what would else have been an impos sible task. Mr. O'Shanassy, it is true, was one of the nine opposition members who voted for Mr. Haines's principle ; but it was evident at once that unless Mr. Chapman could prevail on him to hold that principle in abeyance, and unite with himself on broader grounds of policy, the attempt to con struct a Cabinet would utterly fail in his bands. Besides, it had become apparent that a recall, or even a reconstruction, of the Haines Minis ry was quite impracticable ; for the latter had been his Excellency's first proposition after the . re ignation to the ex-premier, and Mr. Haines had endeavoured to accomplish it, but without success. There was no possible Ministry, at the moment, therefore, except one formed by a junction of Mr. O'Shanassy with Mr. Chapman. These considerations led the former gentleman to accede to the proposed terms, and the new cabinet was framed as follows :—Chief Secretary, Mr. O'Shanassy; At rot n,y-General, Mr. Ire'and ; Trade and Customs, Mr. Henry Miller ; Land and Works, Mr. Gavan Duffy ; Postmaster- General, Dr. Evans ; Treasu ter, Mr. Harker. The country has acquiesced in the fill of the Haines ministry, because everybody sAw it to be inevitable; and the general opinion now i 4, that the new, men should certainly be allowed a fair ch Ince. -Fateenceof oureler.ghamizillg received Il favourable in , ollige II CO l'alitS6W(4.)t 03: P Cr- , c ' ezliois ir ..1 of E dish slitiWeit - fetiagliiiti the ni64.li`of Nov., 1857. The mmifest falling off in the exports to this' caloity Isriii,ili ti •k pis in tha,t:mon• b, led to the impression hatth-Warn:rigsand exp istulatons , which bad been addre.i ed tohtime spiculatorsfrom time to time b ad at I;ngth produced a beitefiCial re sult. The effec iof ihe advicestb us relived was to causeincreaed.activity .in our, import Markets, and to check the downward tendency of prices. • But we regret to state. that the - niercantile . news to bald by the Eumpean has again brought about a depres sion from which it is not probable that our trade will revive, until it definitively appear: tliat. English exporting firms have' determined to regu late their transaction% with a more cautious refe rence to our actual requirements. It would be difficult, if not impossible, to point. attention to 'a single article of merchandise which is not held in excessive quantities; and it therefore need occasion _very little surprise that filthiness is fre - quently brought to a complete stand-still, or that forced 'sales 'are effected, to the .prejudice of the whole trading community: We would, Eoes;er, once more assure bur friends at home that our .powers of ceniumptiori may now be regarded 'as infinitely more limited than they were two years or ev en a year - ago. The habits, of our popuhtion have totally changil, - for we see nothing of that reckless extravaganc)for which somerof the inh.bitants of the colony ;were once celebrated; and we might safely rest wsured that the variations in • prices which have arisen out of the extraorlinary fluctua tions that h i ave taken place in the inquiry, are not likely to be produced heucjorward • by the . super fluous demaids of coi,stmers.' In the local market for ale, ac., a goodbusiness has been done, through out the week, in bulk goods; and holders of every description 4of brand have, owing to the scarcity_of Bass'-, been!enabled to place portions of their stocks at full quotkions. Bottled ales, kc., have not been in extensive , demand, and few sales have been ef fectel at a: higher figure, th n 10s. fid. for the, most approved' . qUalities. Butter ' has com manded a tolerable sale at 15d., but, in con sequence of the news to hand, per European, respecting !th s article, holders are likely to submit to A slight reduction on that rate. Bel iont sperni, canules are quoted at 14,1. to 14id., and at e not!readtly saleable. Cheese of very primp' quality is in fair requi st at 13id. to 14d. The Eastern prqduce market has not experienced any . material change. Cossipore sugar is worth 631. ; crystals, fine, are in many instances held for 491. ; and countefr range from 391. to .421., in a firmer market. Several large parcels of inferior and damaged tea have been b roug ht f orwar d for prompt sale, to the !prejudice of importers, and prices of all varieties haire receded. P atna rice maY, be quoted. , . at 18/. to 1 /. The articles u n d er the be a d o f oil men's store ~which have be en i n continued. request at satisfac ory rates, are bottl e d f ru it s , jams, il pickles, and mustard, all of whiCh command buyers. In the win and spirit market prices are still low. Martell's b i andy cannot be placed ar a higher figut e than 14s. 6a., and is generally selling at 14s. 3d. Old Tom and Geneva bring reduced prices, the for mer not being saleable, in else, at more than 15s. 61, a. d the latter at 16s. 6d. Port wines are improving • value, but other descriptions barely command 1. st month's rates. In the money mar ket capital s freely offering, on first-class security, at 10 to 12 per cent. Business in the stock and. In share mark t has been very good, and previous rates have been exceedingly well sustained.' • • i , SYDNEY. . The ele4ions in New South NWales'werd ; ovel, and a large number of new men had been returned. The Parlia cut was to re-assemble on the 231 of March. °thing of political importance had taken place duri &the multi). The fell wing ships had arrived at. Sydnef:- 1 From Lou lon : Octavius, Feb. 10; Cairngorm,. Feb. 26 ; nion, Feb. 28 ; Lismoyne, March 2 i Omar Pa , 3, 'Ma re h 3. From Liverpool—Queen of the A on, Rh. 27. From Plymouth—The S;ebonheath. From Glasgow—The T. E. Mdlidge. A frightful story of the immorality prevailing among thr4 young women on board the emigrant ship Steb nheath during the v o y age was t o ld by the wane es who were ca ll e d on th e i nques t, held o n t 6 b ,dy of A nn C ox , age d 18, one o f the irnmi, ante. The inatr,.n and surgeon of the ship were 1 strong in 'heir representations, and the joy rgetureed a verdict in which they said : —" We e2press our severe censure and displeasure at the di; graceful immorality that has, existed among the single females and the crew. At the same tim , we highly commend the conduct of Misi Chas , the matron, and Mr. Rowland, the surgeon." The Sy ey Morning Herald says ;---"Since our last summary, the present state of our commer cial affairs. has assumed, a somewhat troubled aspect. The monetary crisis which has taken place in ngland, New York, and on the conti nent, has temporarily affected us. Our large mer caiitile hohses are sound and unaffected, althoug'i idle rumors, without any foundation, have for the la,t onth be-n industriously spread as to their stability; but more particularly of those who are in any way related or connected with the houses that have suspended in England and elsewhere. It is but fair, therefore, that we should calmly consider our present position ; and if there are grounds of alarm take every precau tion to *vent the mischief which would inevi tably ensi i e should a monetary panic take place here. During the present year and towards the close of list year, the banks have evinced a de sire to chock reckless speculation by partially refusing i the accommodation they so lib era lly granted d ring the last two years. " Agail , even since 1854, th e G overnmen t h ave been larg borrowers of money, which has been ex pended i railways and ether publi c wor k s . Th ese have not yielded any return for the outlay ex pended. ,Besides, the Government are again in the market asiborrowers for about 400,0001., and - will require tio pay off debentures, due in 1858, 1 100,0001. ; in 1859, 80,0001. ; and in 1860, 418,0001. The effect of all this has been to Cause a scarcity of money, and au anxiety to realise on all descriptions of . securities, and has tended to bring about a decline in bank and other shares. "The quantity of gold dust imported into the Sydney branch of the Royal Mint for the_purpase of coinage during the mouth of February has been 21,767 ounces, and the amount cf geld coin issued during the same mouth was 220,000 sovereigns. The total amount of gold dust received for coinage from the Ist of January to the sth of March, 1858, has been 98,816 ounces, and the number of sove reigns issu d during the same period was 445,000. This is a very large increase of busines3 as corn p ired with the corresponding mouths of 1807, and is a ttributable to the quantity of gold dust sent for ceinrge from Melbourne, particularly during the month. of January, and also to a slight improve ment iu the yield of our gold-fields. , oree amount of gold dust received by the escorts from our several gold-fields during the month of February has been 15,436 ounces ; for the same m onth of 1857, 9,289 ounces. Th ere is, therefore, ae increase of 6,147 ounces on the receipts of the. month." Country Markets. GRANTHAM-MAT 1. There was a tolerable supply of wheat, and all demi?. Hoes met a revly sale at is per qr. over last week's prices. The highest quotations for fine white samples were 49r., red 45.:, per 36 stone. LEICESTER—MAY L The supply of wheat was good and there was a fair attendance. The wheat trade ruled active, and farmers succeeded in obtaining an advance of ls. YORK—MAY 1. At our corn market to-day there W 39 a largo attend ance, and wheat and oats met a brisk sale, realising an advance of is per qr.— superior white making 486 and red 445. Barley a slow sale, at late rates, and oats in good demand at rather more money. --- COLCHESTER—APRIL 30. Prices to-day were as follow:—Wheat, white, ( 3Bs to 50 3 ; red, 42s to 463; barley, 36s to 439 ; oats, 24s to 30s ; b eaus , Mazagan, 31s W 38s; middle And small, 38s to 425; pea', white, 40s to 42s ; grey, 40s to 448. Official Statement of the Quantities of Corn, &c., received in the port of London, from the following ports, fiom April 26 to May 1, both inclusive. a 1 ) 14 Ai a; 0 44, ai Colchester l9l / 00 Harwich ll6 75 35 foigh , N 2B 3 40 51 [Walden 1.20 21 6 t 300 , 2461 660 KIRKCALDY—MAX 1. Here, to-clay, we had moderate supplies of all kinds of grain. Sales ready, at prices in favour of sellers. Wheat. I I Barley. Oats. Beans; First Sacond Os 01 Third 3ss Od 30s Od 23e Gd I" Os Od THE ADMIRALTY PIER AT DOVER.—We are very gratified to learn that the magnificent marine prome nade formed at the newly-constructed Admiralty pier is about to be completed and thrown open to the public. During the week the engine-nouse and some of the im mense blocks of stone which have hitherto held it in possession, have been removed, and the process of cleat ing the pier of these obstacles is to be rapidly proceeded with. There iy no doubt, therefore, that before the corn ] meneernent of the fashionable season, thi s moat a tAC.I. tive addition will be made to the ma rine deligh ts tr of Dover.—Dover Chronicle. LONDON, in council and those of a Minister having no council; but, although he drew such a distinction with great ingenuity , at one moment, I think he forgot it the. next. He con tends that power is to be exercised by a Minister in coun cil, but only with the approval of the council. If, how ever, you say that a Minister is only to exercise power with the approval of his council, you mean there is to be a con joint authority—a division of power—between such Mini ster and the council ; and, surely it is obvious, that if you do divide powers between the Minister and the council you are doing away with one of the main principles upon which we are endeavouring to legislate—namely, that of securing the undivided responsibility of a Minister. There seems to be—if T may venture to say so—some confusion in the minds of many persons as to what it is they really desire. I often hear persons arguing against the danger of giving authority to a Minister, and at the same time desiring that he should be made responsible. Now, I say you cannot separate the one from the other. If you intend to impose responsibility you must give power. Constitute a council having conjoint power with the Minister, and if any act of that Minister is impugned in Parliament, what will be his answer? He will say, "You have bound me to act with the approval of certain persons. That approval, therefore, I must necessarily obtain, and I could only obtain it by following the line of policy I have adopted in this (instance ; and you who have im posed upon me this restriction have no right to reproach me with its natural and inevitable consequence." It may be the object of the hon. and learned member to establish such a state of things, but that result was not contemplated by the Government, nor is it, I apprehend, contemplated by the house. We want individual Ministe rial responsibility. (Hear.) It will bo asked, no doubt, if that is our object, why have a council at all? Ittnow that question has been put, and I refer to it for the pur pose of showing that it admits of an answer. I think my right hon. friend described very truly the object and inten tions of the Government in proposing a council, when he stated that the council is intended to exercise a moral con trol—that is to say, the Minister is to be surrounded by those who can bring long experience to bear on the ques tions submitted to their consideration, who can give the Minister the best advice, and supply him with the beat materials on which to form his judgment; but having the benefit of that advice and experience, he is bound to act on his own single experience. (Hear ) There is one other ob jection to the proposed amendment. I think that, to some extent, it neutralises the effect of the course we are now taking in proceedin g by way of resolution. The object of proceeding by way of resolution is that we should go on step by step, advancing one step at a time. Now, in the amendment of the hon. and learned gentleman we are made to take two seeps at a time. The amendment de clares, first, that there shall be a Minister for Indian Affairs ; and, secondly, that that Minister shall stand in a particular relation to his council. These are separate propositions, both open to contr hersy and debate. Many persons, those especially who support the administration of Indiaby the Company, object to conferring on a Minis ter such a power as is contemplated by the resolutions. Other persons, willing to give him such a power, are un willing that he should share it with a council. These, then, are separate questions, to be discussed apirt, and it seems like anticipating the judgment of the committee on a fu tnie resolution if on the present occasion we adopt the words proposed by the hon. and learned gentleman. On these grounds I hope the committee will not agree to the amendment. Mr. MANGLES,- for the first time since he had the honour of a seat in that house in conjunction with the hon. member for the Tower Hamlets, found himself in accord with that honourable gentleman. (Laughter.) He was sorry to hear the argumentum ad invidium raised by the noble lord (Lord Stanley), besides which the noble lord quite misunderstood the proposal before them, what the amend ment contended for was that before acting the minister should be compelled to sit in council and hear all recom mendations of his councillors That was precisely the po sition of the Governor-General of India at that moment, and no one pretended that he was not practically absolute. Unless they compelled the minister to listen to the opinions of the council, the council would be a mere sham, without any substantial power. And what possible protection had they otherwise against the rash acts of a minister i He was not opposed to absolute power being vested in the minister; all he contended for was that he ought to be obliged to hear what his council had to say. The CHANCELLOR of the EXCHEQUER said, that if the committee should be allured from the straight path 'before them the result would be that the progress of pub lic business would be very much impeded. He confessed that he entirely shared in the interpretation put upon the amendment by the noble lord—namely, that there should be a joint power between the Minister and the Council. [Hr. A:yrton intimated dissent.] But he wished to impress on the committee that the resolutions were drawn with the intention of advancing, if possible, step by step, to a general settlement of the question. Having first of all asserted that the government of India should be trans ferred from the Company to the Crown, the next prinoiple laid down was that the authority of the Government should be exercised by a responsible Minister. He thought it unnecessary and unwise to introduce at this stage the question whether there should be a Council or not. If the committee subsequently decided on the formation of a Council it would then be open for the committee to decide whether the functions of the Council should be exercised in the manner approved of by the hon. director, and as tie holt. and learned gentleman now intimated he proposed. What the committee had now to do was to determine whether there should be a Minister for India under the name of a Secretary of State, and when they had arrived at a conclusion on that head, it would be for them to decide whether there should be a council, and, if so, how it should be composed, and how its functions should be exercised. (Hear, hear.) There were many gentlemen of opinion that there ought to be a Minister in this country solely responsible for the Government of India, whe were not in favour of a council. Again, many who were in favour of a council were against the Minister having an undivided authority. The hon. and learned gentleman (Mr. Ayrton) w a 3in neither category: He (the Chancellor of the axchequer) for those reasons hoped the committee would not sanction the amendment even if they approved it. It might be a just and proper amendment in the right place, and in the right season, but he maintained that this was not the right occasion for its introduction. Mr. V. SMITH entirely agreed with the noble lord op posite as to the interpretation to be put upon the amend ment of the hon. member—namely, that it declared that in no case was the new minister to act independently of his council. Now he thought that all those who weresin favour of concentrating responsibility in the minister r were bound to vote against uch a proposal. At the same time he desired to guard himself against the notion that he was voting against the amendment, supporting the proposal that the new minister was to occupy the position of a Sec retary of State. Sir H. VERNEY was one of those who held it to be es sential for the' maintenance of England's dominion in India, that there should be an intermediate power between the Crown and the people of India. He denied that the house of Commons would or could be any check upon abuses of Government practised in India. Mr. ROEBUCK said the had been told more than once that they must proceed step by step with theseresolutions. He thought, however, that if anything they had taken a step backwards that Eevening, for he blieved that it was determined on Friday night by a large majority that the company was no longer to govern India ?' Well, then, the question which they had now to discuss was, how was the Crown to govern India. Ho differed, however, entirely from the noble lord and right hon. gentleman opposite, that they were debarred from discussing the duties and nature of the council upon that occasion. They were dis cussing the establishment of a Government in England for India similar to that -of 1783. The real Government of England was in that house, which was becoming more and more the representation of the people of England, and the practical conclusion he drew from it was, for them to have a Secretary of State for the Government of India on his own responsibility, and without the aid of (showing the power and responsibility that would result from) a council. He wanted a Secretary of State for India who should be responsible, and alone responsible, for the government of India. In speaking of the phantom of " old Indians," he considered the worst council they could have for the government of India was a council of "old Indians, whose knowledge and experience of India _would b 3 con fined to the particular spot in which they had located, and the effect would be that the Secretary of State would be able to impose upon the people on the authority of the board of " old Indians." He was an advocate for undi vided responsibility, as the only means by which India could be pro-erly governed. Sir P. WILLOUGHBY asked if it was safe to transfer to a Secretary of State, without control, the governnfent of India ? It would give him a despotic power over the army, the civil power, and 30 millions of reve nue, which it was not desirable any man should possess for the benefit of that country. It was intended that the Secretary of State should be paramount, but in difficult cases it was desirable he should take the advice of a council; and however much honourable members might sneer at " old Indians," it was only from those who had had experience in India knowledge of India could be ob tained. It was of the utmost importance there should be a council of state to advise him in directing his important duties, and share the responsibility with him. It was to the interest of the house and the country to insist on the appointment of a council. He objected to one individual being invested with so much power as a Secretary of State for India would be without the control and assistance of a council. Lord PALMERSTON thougbt the committee were die' cussing two questions which ought to be made the subject of separate resolutions. By assenting to the resolution which had been put from the chair, they would neither affirm nor deny the propriety of appointing a council, but would leave themselves at liberty to deal with that ques tion whenever it came regularly before them. Those who were of opinion that ti e government of India should be transferred from the Company to the Crown could not rea sonably or consistently object to the present resolution, because the Crown must act through a responsible Minister and he agreed with the hon. and learned member for Shef field, that what Parliament and the country had in view was to make the Minister of the Crown answerable for the administration of India at home ; but that purpose would be defeated if the Minister were surrounded by a council who should have the power of controlling bim. To consti tute such a council would ba to re-establish the "double government" in a worse form than before. It was pre mature, however, to discuss whether or not there should be a council, and what its functions should be. There was a subsequent resolution to the effect that the Minister should be assisted by a council, and the committee would do well to postpone until that resolution was put the ques tion of what would be the composition of the council, whether it should be nominated or elected, and in what degree,it should be an advising body. The present resolu tion gave him the title of Secretary of State, while the bill of the late Government called him President in Council. That was a matter which might be discussed at a future stage, but he trusted the committee would not agree to the amendment, which was inconsistent with the principle of transferring the government of India to the Crown. (Hear, hear.) Lord J. RUSSELL said the question raised by the pre sent resolution was not whether there should be a council, but whether the Minister for India, like the Governor- General, should never act without consulting his council. It was necessary the committee should eon-ider how the council in India arose. At one time the Governor-General waged wars and conclu3ed treaties of peace which were be lieved in England to be inconsistent with justice and ad verse to the policy which the country ought to pursue. In order to control the Governor-General, acting as he did at a great distance, the plan was hit upon of sending' out three or four persons to form his council, and, without deprivi ng him of the absolute power of carrying his own views into effect, Parliament resolved that if he differed from his council, the members should be at liberty to record in writing the reasons of their dissent. That contrivance, though perhaps tbo best that could b e adopted, was not very successful, for it led during many years to dissensions in the council, at one time Warren Hastings, and at another Mr. Francis having a majority. But, whether the contrivance was good or bad, the case of the Governor-General bore no analogy to that now under consideration, for he presumed they did not want the Minister for India to be obliged on every occasion to go to THE GOLD FIELDS. As was the case last year, the gold returns for the first two months of this year exhibit a serious falling-off from the quantity produced in the cor responding period of 1856. There is also a decrease in the quantity raised since the opening of the current year, as compared with 1857. In the pre sent condition of mining in this colony, fluctuations in the quantities of gold produced are to be looked for, the cause being attributable less to any deft• ciency in the natural wealth of our gold fields then to the unsettled habits of the miners, and the very wasteful manner in which they work. New dis coveries of auriferous deposits are constantly being made, and, if none of them equals in richness the gold-fields which were first worked, the proofs welch they furnish of the dispersion of our mineral treasures over almost the entire colony are highly sati-factory, as indicating an illimitable field for the present and future employment of c , ipital and lab cur. Indeed, there is already ample evi dence to show that the generations which exist will all be exhausted long before the gold deposits of Victoria have cease , l to yield a profitable investment for the labour of the working man. But that labour must be more economised than it is at pre en% Now, it would scarcely b 3 au exaggera tion of fact to tate, that of the thousands who live by gold digging a very large proportion waste their time and what money they may have in joining in mattes, and iu the idle and unproductive habit of "shepherding." The close of the year saw the colony, with regard to its gold produce for the previous twelve months, at a great disadvantage as compared with its poi= tion at the end of 1856. There was, in fact, a fall ing off on the year to the extent of 274,750 oz. We began the next year badly, the escort, returns for January showing an adverse balance against the month, at compared with the corresponding period of 1857, of 42,698 oz. Last month's returns also exhibi•ed a comparative decrease of 12,016 oz. We will now proceed to compare the quantities received at Melbourne and exported during the last four weeks, with the produce and shipments of thQ cor responding weeks of 1857. The escort returns for the two periods showed the following results : 1857. 1858. oz. oz: Week ended Feb. 20 Feb. 27 PP March 6 57,124 ... 47,854 PP March 13 169,686 168,871 168,871 D creae 815 The shipments during the two mon•hs, when compared, are considerably in favour of this year. The customs returns of geld exported, for the four weeks ended the 131 Mamb, w,re -1857. 1858. Week ended Feb. 20 )9 Feb. 27 ft March 6 67,069 ... 32,731 f t March 13 192,434 .- 209,212 192,434 Increase.., 16,778 The following ships have sailed with gold friegh's since our last summary :—Feb. 15, Simla, for Suez, 33,514 ozs. ; Feb. 16. Invinc:blo, for Liverpool, 16,191 OZ3. ; Feb. 24. Swiftsure, for Loudon, 80,050 oze. ; March 1. Medway, for London, 9,593 ozs. ; March 4. Hebe, for Hong' Kong, 5,546 ozs. ; March 4. Oithona, for Hong Kong, 5,076 ozs. ; March 5. Indemnity, for Loudon ' 11,130 oze. ; March 9. Red Jacket, for Liverpool, 40,234 ozs. ; March 11. Pericles, for Calcutta, 1,359 ozs. ; March 11. Jupiter, for Hong Kong, 5,407 ozs. ; steamers for Sydney, 1,026 ozs. ; small shipments, 36 ozs.-209,212 OZ3. Amount shipped from Jan. to Feb. 15, 302,207 ozs.—total amount, 511,419. A rise has taken place in the rates of exchange on London, consequent on the advance in the price of gold. In presence of an inadequate supply of the precious metal, it was found itnposs.ble to keep the t price down, as the urgent demands for shipmz . placed buyers in active competition with each o how. Should the yield of gold continue to increase, ever, ever, we may expect to learn that a rektuurnowt issue pre vious rates will take place. The banat drafts on England, at 60 days' Drafts sigh e t bi ju s ca l . per cent premium ; ditto, 30 days, 1.14 Freight on gold, against gold purchased at p per sailing vessels, 3d. per ounce ; per overland mail steamers, per cent., e deliverable to the bul lion-office, B an k of England . Insurance, 1i per cent. ; and overland, 1f per cent. Bank rates of discount : 8 per cent. onLbills having less than 95 days to run, and 9 per cent, beyond 95 days' cur rency. Over 125 days, 10 per cent. The charge on overdrafts is 12 per cent. Freight on gold trans mitted by the overland route, tpercent. Insurance lf to 1i per cent. TRADE AND COMMERCE. During the past month the condition of commer cial affairs in Victoria slightly improved, in conEe- E►VENING,. his council ant obt , tin their opinions in - writing. He VA zn , t to act at a distance ; he wss not tci'ex.irci§e any des potic powers, and upon any Matter of great. importance he would ha,e tlae advi , e of hie colleagues in the Callinet. Probsbly, however, in the majority of cases he would con sult with his council and hear what their opinion was. But whether he had council or whether, as proposed by some, ho should simply be assisted by an under-secretary, he would certa'nly not despise the opinion of "Old Indians ;" on the contrary, he would doubtless deem it his duty to consult with men of knowledge and experience. At the present moment, however the real question before the Committee was whether the Minister should be so controlled by his Council as to lose all responsibility. The amendment of the hon. member for the Tower Hamlets seemed to answer that question in the affirmative, and therefore the Committee ought to reject it. (tear, hear.) M. GLADSTON I?, said he understood resolutions of this kind were to be considered as precise in the convey ance of ideas as if they were in the discussion of a He considered it was essenjally necessary that the duties of a Secretary of State should be clearly defined, and if he was to be a president of a council it was right ho should be named so in the resolution. They were not called upon to decide his exact functions, but the resolution put a ne gative on all separate power in the government of India, and he thought it was desirable for the house to consider and decide the question now, rather than when the bill came before them IT consideration, although, as the right hon. member for Sheffield had said, it would be a great evil to have a council composed of men of experience. (Hear, hear.) The council perhaps would have one pecu liarity, it would show that a parliament of " old Indians" was a sufficient practicable body to expose the pedantry and show the ignorance of old members of P .rliament en Indian affairs. (Laughter.) It was desirable to know if the aouucil was to be merely a council of reference, or if they were to take a prominent part in the administration. The amendment was in accordance with the remark of the noble lord the member for King's Lynn. viz , that the busine4s in connection with the government of India should be transacted by a minister in council, who were to be cog nizable of the proceedings. To that extent he should vote for the amendment, which was in accordance with the views expressed by the leaders of her Majesty's Govern ment. Mr. WHITE, as an old Indian, ridiculed the idea of the responsibility of a Secretary of State, and protested against such powers beingentrusted to one individual. Responsi bility be read as accountability, or answerability— (laugh ter)—but if auy great calamity occurred in India under the new rule, who would dare to impeach such a Ministei? Sir C. WOOD (amidst loud cries of "divide") said it was impossible fur any man to conduct the government of India, without bAng assisted by a council of men of ex p?rience. The resolution did not state the extent of th.- authority, and that was a question that could be better considered when the next resolution was before the house. (Cries of : 4 Divide."). Mr. AYRTON said that by the amendment the govern ment of Indc aoald not be vested in an ordinary Secre tary of State but in a Minister of the Crown, who must consult his Council before he acted, although he could act without them; and thus, so far from diminishing his re sponsibility to Parliament, would increase it, because he would be obliged by the pressure of an intelligent council to give and to record his reasons. _ _ _ Air. MANGLES (who was greeted with loud cries of "Oh") said a question so important had been raised by the noble lord (J. Russell) that he hoped the house would allow him to correct a historical mistake into which the noble lord had fallen The noble lord had spoken of the council of Warren Hastings as having been the first ever appointed ; but the fact was that all the governors always bad councils. The noble lord also said that th e counc il crippled the power of Warren Hastings , and so it did i n his time ; but at a later date powers were given to the Governor-General which enabled him to o verrule h i s coun cil, and to act on his own responsibility. W arren Hast ings had not that power, and so was crippled. He should propose that the Minister of the Crown s h ould have that power which Warren Hastings had not, so that he might not be crippled by his council. Colonel - gYKES inquired whether he was to under stand that any decision that was now come to did net debar the house from considering the question of the power of the council in reference to the Minister of State? Mr. FITZROY said that the committee would not be debarred from considering any question of the kind on a subsequent resolution. The committee then divided— For the amendment ...... ICO Against it Majority ................ ........ --231 The result was hailed with laud cheers. Mr. ELLICE moved that the Chair m tn report pro gress, and gave notice of his intention to move that a Pre sident in Council bo sub 3tituted for a Secretary of State. it w The CHANCELLOR sof ose theof EXCH EQUER thought would to di the manta on the second resolu p tion. remaining amend- After a short discussion, the motion for reporting pro gress was agreed to. CHANCERY AMENDMENT BILL. The house then went into committee on this bill, and, after several clauses had been agreed to, the Ch a i rman re ported progress. FRANCHISE PRISONS BILL. This bill passed through committee. PORTUMNA BRIDGE (IRELAND) BILL. This bill was read a third time and passed, JURIES (IRELAND) BILL. On the order of the day for the second reading of this bill, Mr. WHITESIDE said the subject was under the con sideration of the Government. He was in consultation with the Attorney-General for England, and hoped to be able to introduce a bill applicable to both countries. The bill was then read a second time on the understand ing that the committee was to be postponed. CONFIRMATION OF EXECUTORS, &c., BILL. The LORD ADVOCATE obtained leave to bring in a bill to amend the law rela'ing to the confirmation of exe cutors in Scotland, and to extend over all parts of the United Kingdom the effect of each confirmation, and of grants of Probate and administration. DEBTORS AND CREDITORS. Mr. HEADLA.M obtained leave to bring in a bill to an thori.e and carry into execution the voluntary assignments of debtors for the benefit of their creditors. The house then adjourned at 10 minutes to 1. LAST NTGFIT'S BUDGET DEBATE. if the unhappy financiers wish to pronounce funeral orations over ingenious Sinki ng F un d s , patriotic taxes, or self-imposed economies, we ought not to grudge them that small consolation. But That what is to be d one ? is the question. If a man will exceed his inc or meddle his affairs, and if calamity aggravates consequences of ill thrift, there is nothing to be done but to make motters strai g ht and begin a ga i n . It is a fatal bat very common error to persevere when the game is up, and to pursue the course which was once the best, and is so no more. sent Chancell or o f the The position Of the pre- Exchequer is that of some professional accountant called in to make an im mediate settl ement of embarrassed affairs. We have no reason to believe that Sir G. Lewis would have done worse, such rse,or that our finances were in a state to interposition. demand But with war after war,r, witwithth with fresh necessity of more costly armaments, fresh demanis for civil pur poses, and withanew cabinet every other year, no of the Chancel lor_ finance Exchequer ca n note hope to carry out any echemeonence to last longer than a year, What, then, is tut either lay on newhfie done in that year ? He mu s t taxes te or continue existing debts. The Chancello r o f Exchequer proposes to lay on two taxes which inequan have the simple effect of destroying an Ire land and a particular y between England and 'exemption affecting bankers. As there does not appearpaf to be much difference of opinion its to this . the financial scheme, we may pass it. There remains a real bone of conten tion in the question whether to keep up the income taxNo on t e h or the debt. ventures absolutely or unreservedly to propose , e former course. On this point Sir G. Lewis Mr. Gladstone, Mr. T. Baring, Mr. Bright, Mr.. Cardwell, and the Chan cellor of the Exchequer are all agreed. Th e y h ave not the audacity or a t n h y eheartle ssnes s t o t e ll t h e nation, of er so m promises to the contrary , that it must pay 7d. in the d pound incom e -t ax f or a f ew years longer till all meet again. If there were any statesman or any m tatty in the house who tendered this council it be worth while to consider it ; but there is nor, and the question is settled without us. Thus great engine of financial reform is doomed for e ' ' ' alternative, ver. Of course, there is another reduce e ich is conceivable, but no more. W e too, as on the onr ex p en diture. On this point, income tax, it may be said that there is a universal agree ment. Whatever is e x pressed, there is a uuani mous feeling that this is not a time for retrench ment, and that no impression can be made on the esimates of the year. They W h o usually talk most of economy assum e thi s as a disa greea bl e necessity, and as if the less said about it the better. So we are driven back to the choice e etwe en new taxes and c e rinued debt. As to new ta xes, p ro poses more than has been done. Nobody 1, no one adds it to the Budget already before t he house • end certainly is not cur pl ace to su pp l y the deficiency, So at length, by an exhaustion of all our Ways and Meaus, we come to th e s e much e a nvaseed'it m —the million and a ha lf that were to have b e , n paid to the war sinking fund, and th e two millionsi of Exchequer-bonds that were to have been re deemed. Are these ope rations to be suspended, or are we to perform th, in by borrowing in another form t In fact, nobody propos e s to do so , Sever ai speakers list night, as on prev iou s occasions, ex pressed their disgust at having to give up these little schemes. People do not like t o give pet up a long cherished scheme of saving. But, disgu st i ng as it may be to abandon or suspend these two processes of financial mot ality, no one really and honestly advises us to persist in them. No one will t a k e that responsibility. It comes to t his, then, th a t t the general m.o. tification of the house, b ut yet with . ,e , its universal consent, it is found necessary to Con tinue about three millions and a half of indebted ness for one more year at least, with no small probability of having to do more in this way next year, and perhaps the year after.—Times. A SLIGHT MISTAKE.—It would appear that bailiffs, although gen erallylooked upon as hard-hearted wretches, are susceptible of the tender passion. A county court bailiff in East Yorkshire was sent to distrain the goods and chattels of an unfortunate family, but found neither goods nor chattels in the house. He, therefore, e n _ dorsed on the back of the warrant, " No girls to love." This document coming into the hands of his employer, not a little puzzled him. By some defect in the worthy functionary's caligraphy, the above reading arose. The sentence on the back of the summons was iutooded to be, !‘ No goods to levy." !LIA MENTA Y 1.1117.18t0N. T1015.•E Ole COMMONS—MAY 3. GOVERNMENT 0 1 4 ' - INDIA: Question proposed, ' That for this purpose it is expedient to provide that her Majesty, by one of her principal Secretaries of State, shall have and perform all the • powers and duties relating to the government and re ' venues of India which are or may now be exercised and performed by Cue East India Company, or by the Court of Directors or Court of Proprietors of the said Com pany, either alone or with the approbation of the Com missioners for the Affairs of India : Amendment pro posed, to leave out' from the first word " that" to the end of the question, in order to add the words " in order to ensara the administration of such government with due care, caution, and efficiency, all the powers and duties now vested in the East India Company, the Court of Directors or the Court of Proprietors of the said Company, either alone or with the approbation of the Commissioners for the Affairs of India, shall be exer cised and performed by a Minister o f the Crown in Council," instead thereof. Question put, "That the words ` for this purpose it is expedient to provide that her Majesty' stand part of the question." The committee divided—Ayes, 351; Noes, 109. AYES-351. Adeane, H. Fitzgerald, W. R. S. Montgomery, Sir G. Agnew, Sir A. Fitzgerald, J. Morgan, O. Akroyd, E. Fitzwilliam, G. Mowbray, J. R. Alexander, J. Foley, J. H. Naas, Lord Annesley, Hon. Hugh Foijambe, Francis Napier, Sir C. Archdall, Capt. M. Forde, Colonel Neeld, John Ashley, Lord Forester, Col. Newark, Viscount Atherton, W. Forster, Sir Geo. Neel, G. Bagwell, John Foster, W. 0. North, Col. J. Bailey, C. Fortescue, Hon. F. North, F. Bodine, H. Franklyn, G. Ogilvy, Sir J. Baines, Rt. Hon. M. Frazer, Sir W. Ossuiston, Lord Baring, H. Freestun, Colonel Packe, C. daring, T. G. Gall wey, Sir W. Paget, C. tarnard, Thomas Gard, R. Paget, Lord C. sernard, T. Garnett, William Pakenham, Colonel itatiurst, A. A. Gavin, Major Pakington, Sir J. Beach, W. Gilpin, Col. H. Palk, L. Bective, Earl Glyn, G. • Palmer, R. Beecroft, G. Goderich, Viscount Palmerston, Viscount Bennet, Capt. P. Greaves, E. Paull, Henry ;entinck, G. Greenall, Gilbert Pease, Henry Berkeley, F. Greenwood, John Peel, Gen. • Bake, J. Greer, Samuel Pennant, Col. E. Bolder°, Col. H. G. Gray, Captain Perry, Sir E. Souverie, Hon. E. P. Grey, Rt. Hon. Sir G. Pevensey, Viscount Bovill, W. Grey, R. Pilkington, J. lowyer. G. Griffith, C. Potter, Sir J. Boyd, J. Grogan. Edward Powell, Francis 3ramley-Moore, J. Grosvenor, Earl Pritchard, J. tira.mston, T. W Gunton, Brampton Proby, G. Brand, Hon. H. Hall, Sir Benjamin Pugh, D. Bridges, Sir B. Hall, General John Puller, Christopher rocklehurst, J. Hamilton, G. A. Ramsden, Sir J. drowns, Lord John Hamilton, Capt. Rebow, J. Bruce, [I. A. Handley, H. Repton, G. ruen, H. Hankey, T. Ricardo, 0. Butler, sir J. Hardy, G. Richardson, J. toiler, J. W. Harris, J. D. Robartes, T. Banbury, W. B. Hassard, Michael Robertson, P. turghley, Lord Hatchet!, John Roebuck, J. A. Burrell, Sir C Hay, Lord John Rushout, Capt. G. Sutt, I. Hayes, Sir E. Russell, Lord J. duato 1, Sir E. N. Ileadlani, T. Russell, A. 3aird, J. Heathcote, G. Rust, James Cairns, 11. Henley, J. Sandon, Viscount 'alcott, M. Holford, R. Sctater, George Campbell, R. Hopwood, John Scott, Major Cardwell, E Hornby, W. Scrope, G. Carnac, Sir J. R. Horsfall, 'l'. ' Seymer, IL Cartwright, 11. Horsman, E. Shelley, Sir J. Cavendish, W. Howard, C. Shirley, E. Cavendish, G. C. Howard, Lerd E. Slaney, R. !cell, Lord .11. Hudson, G. Smith, V. ffiarlessvorth,..T. C. D. Hume, W. Smith, Sir F. atild, Smith Hutt, W. Smyth, Col. Christy, Samuel Ingestre, Viscount S mallet t, A. Clatk, J. Inglis, John Somerset, Colonel Clay, James Jermyn, Rt. Hn. Ealr Somerville, Sir W. Clive, George Jervoise, Sir J. Spooner, R. Clive, R. Johnstone, H. B. Stanhope, J. Close, H. Johnstone, Hope Stanley, Lord Cobbold, J. C I Jolliffe, H. Stapleton, John Codrington, Gen. Kelly, Sir F. Stephenson, Robert Cole, 11. A. Kendall, N. Stirling, W. 'oilier, R. P. Kerrison, Sir E. Steuart, A. Collins, T. Kershaw, J. Stewart, Sir M. Coningham, W. King, J. Sturt, H. Conolly, T. King, Edward Sturt, C. Cowper, W. F. Kinglake, A. Sullivan. Michael Corry, H. T. L. Kinglake, J. Thornhill, W. Cowan, C. Kingscote, Capt. R. Tite, W. Cox, W. Kinnaird, A. Tollemache, F. Cranford, E. 11. 3. Kirk, W. Tollemache J. :Iross, R. A. Knatchbull, W. Tottenham, C. Curzon, Viscount Knatchbull-Nuguessen Trefusis, C. Dalkeith, Earl , Knight, F. Trelawny, Sir J. Davey, R. Knox, Col. B. W. Trollope, Sir J. , Davison, R. Labouctlere,lit.Hon.H Truman, C. Deedes, William Langton, W. G. Turner, J. A. , )eniaon. W. H. Langton, TI. G. Vance, John Dent, John Laslett, W. Vansittart, G. De Vere, S. E. Lennox, Lord 11. G. Vansittart, W. Devereux, J. Leslie, C. P. Verner, Sir W. Disraeli, B. Levinge, Sir R. Villiers, C. Dobbs, W. C. Lewis, Sir G. C. Vivian, H. H. Du Cane, C. Lindsay, W. Waddington, H. Duff, AL Lisburne, Earl Walcott, Admiral. Duff, L. Locke. J. Walpole. S. Duke, Sir J. Lopes, Sir Ai: Walsh, Sir J. Dunbar, Sir W. Lovaine. Lord Warn, John Duncan, Viscount Lowe, R. Warren, S. Duncombe, A. Lowther, Col. H. C. Welby, W. Duncombe, Hon.W. E Lowther, Capt. Western, S. oundas, G. Luce, T. Westilead, Joshua Dunkellin, Lord Lygon, Hon.F. Whitbread, S. Dunne. M. Lytton, Sir E. Whiteside, J. Du Pre, C. Mscartney, George Wickham, H. Dutton, Hon. R. U. MacEvoy, E. Williams, B. Edwards, Henry Mackie, J. Williams, W. Egerton, Sir P. Mackinnon, W. Williams, Sir W. Egerton, W. M'Clintock, John Willson, A. Egerton, Edw. C Maguire, J. F. Wilson, J. Elton, Sir A. H. Matins, Richard Wingfield, R. Emlyn, Viscount Manners, Lord J. Winnington, Sir T. Ennis, John March, Earl of Wise, J. Esmond e, J. Marshall, William Wood, Sir C. Estcourt, T. Martin, C. Woodd, B. Evans, T. W. Massey, W. Woods, Henry Ewart, W. Matheson,Sir J. Wortley, Major Ewart, J. Maxwell, J. Wyndham, General Fagan, W. Mellor, John Wynne, J. A. Farnham, E. Miles, W. Wynne, W. ii'arquhar, Sir M. Miller, Taverner Yorke, E. Feilowes, E. Miller, ',Warne Young, I. Fenwick, 11. Mills, T. T k.'LLEILI. Ferguson, Colonel Moffat, G. Jolliffe, Sir W. Ferguson, Sir Robert Monsell, W. Taylor, Colonel NOES-100. Adair, H. Fox, W. J. Pinney, Cel. Aear-Ellis, Hon. L. G. Gifford, Earl of Rawlicson, Sir H. Baeshaw, Robert Gladstone, W. Ridley, George Baring, A. Greene, John Roupell, W. Baring, Sir F. Gregory, W. Schneider, Ilenry Baring, T. Grenfell, Charles W. Scott, F. Bass, M. Greville, Colonel F. Shafto, R. Baxter, W. Gurney, I. H. Sheridan, H. B. Bland, L. H. Hanbury, , Robert Smith, J. A. B , mham-Carter, J. Harlington, Marquis Smitl ,, A H. Beuverie, Hon. P. Heathcoate, Sir W.Smith, Briscoe, John Holland, E. Steel, John Bruce, Major Hope, Alexander Stuart, Colonel Buchanan, Walter Hotham, Lord Sykes, Colonel Buxton, C. Ingham, R. Talbot, C. Byng, G. H. C. Johnstone, Sir J. Calcraft, J. Knightley, R. Clinton, Lord R. Langston, J. 11. Cobbett, J. M. Liddell, 11. G. Thompson,irT Taylor,a a Tempest, n n c e, redBo H r . L i Ord A. V . H. General Colebrooke, Sir E. Lock.. Joa Crawford, U. W. Lockhart, A. E. Verney, Sir H. Dalglish, R. Macarthy, Alex. Waldron, Laurence Darner, L. D. Mangles, R. D. Watkins, Col. Wegael Deasy, R. Mangles, C. Whatmin, T. an, J. Dill wyn, L. L. Marjoribanks, D. W Dunlop, A. Melgund, Lord White, Jam es East, Sir J. Milnes, R. White, Henry , Ebrington, Viscount Morris, D. Willyamsoughb E. Ellice, E. Newdegate, C. Willoughby, y, J. Ellice, E. Nicoll, D. Wood, W. Elliott, J. E. Nisbet, It. P. TELLERS. Elphinstone, Sir J. O'Brien, P. Ewing, Crum O'Donoghoe. The . Ayrton, A. Fitz william, C. Paxton, Sir J Willoughby, Sir 11. Fortescue, C. S. Philips, It. FATAL STEAM-SHIP COLLISION AND SINKING OF BOTH MESS 'LS. A fearful collision with a serious loss of human life was reported yesterday at Lloyd's by their agent at Milford Haven. The catastrophe appears to have occurred between the hours of 11 and 12, between Wicklow-head and the Kish light ship on the Irish coast. The Bri gand, screw steamer, from Bristol and Swansea, with her ordinary complement of passengers, and a cargo of general merchandise, was pursuing her way up the St. George's Channel for Belfast and the Clyde, when she came in contact with the William Campbell, Capt. Sivell, master, bound to Trinidad from Greenock. Such was the force with which the vessels came together that both of them foundered in comparatively a very short period. Capt. Sivell, of the William Campbell, and six of his crew are supposed to have perished, and 21 of the crew and passengers of the steamer are missing, and serious apprehensions are entertained fur their safety. The survivors of bith vessels, numbering in all 19, were picked up by the Espoir, from Ostend for Liverpool, which safely landed them at Milford Haven, on Sunday morning. Amongst those rescued by the Espoir was Wm. William, a boatswain of the schooner George, Capt. Cross, of London, who was the only survivor of his ship, which went down on the morning of Friday last, 27 miles east of the Tuskar Light. The vessel was bound to the river Niger from Liverpool, and suddenlycapsised and disappeared, Williams saving his life by clinging to a piece of wreck, on which he was found floating, and picked up by the Brigand, steamer, a few hours before the collision with the William Campbell. The schooner George sailed from Liverpool on the same day. She was laden with a valuable cargo which was insured. SPORTING INTELLIGENCE. MANCHESTER STEEPLE CHASES.—SATIIIMAY. Handicap Hurdle Race of 5 soya each, 1 ft, with 25 added. About two miles. 18 sub% Mr. B. Land's Etiglernere, 4 yrs, lOst (Mr. Edwards) 1 Mr. Morris's Boadicea (b b), 6yra, 95t5113 (R. SI v,jun,) 2 Cap'ain Shaw's Wslterstown, 6 yrs, est 51b (Thorpe) 3 Earthatopner, Lizzie, and Rialto also ran. Betting.-7 to 4 agst Englemere, 3to 1 agst Earth stopper, 6to leach agst Boadicea and Lizzie. Won by a length and a half ; half a length between the seoond and third. The Trial Handicap of 3 sovs each, 1 ft, with 20 added. About one mile. 12 subs. Mr. Edwi - n's Blewbury, 3 yrs, 6st (Pritchard) 1 Mr. Bretherton's Reveille, aged, BAt 21b ......(Nixon) 2 Mr. Baring's Earthstopper, 6 yrs, Bst 6lb ...(Thorpe) 1 Florence and Cumberland also ran, Betting.-5 to 4on Blewbury, 2to 1 agat Vlorence, 3to 1 agst Cumberland. Won by half a length. Corn• berland bolted. The City Steeple Chase (Handicap) of 5 sow; each, 1 ft, with 40 added. About 34 miles. 23 subs. _ _ _ _ _ _ . Mr. B. Land's Englemere, 4yrs, sst 121 b (Mr. Edwards) 1 Mr. Pears's bl g Little Wonder, aged, bst 91b (Mr. F. Lotan) 2 Capt. Baker's Ganymede, aged, 9st 61b ...(W. White) 3 The following also ran :--Old Dog Tray, Theodine, Speculation, Brompton, Walterstown, Tom Newcome, Harry, Little Wonder, and Free arid Easy. Betting.-9 to 4 agst Old Dog Tray. sto 1 each agst Theodine and Speculation, 7 to 1 agst Broropton, 8 to 1 agst Eoglemere. Won by a head ; a neck between the second and third. Theodine fell. /1 -1 LT E S A Y not cape. ).) I ►ut I inish Some cash ) We Mug upon oat's- -The i ae ming nk I 13E00 'tate• ) ex- Lring last h he neat said for :h I 860 T