The Sun. — London, England, 1846-04-24 00:00:00

I ~~ I I cases. If he understood the proposition of the I cited where four-fifths of the holders not coming forward Right Hon. Baronet, it was to the effect - that if the f shoWed en htimositiption their part to the Bill, hut they would I have again au opportunity of petitioning against it; and it was holders of one-fifth of the shares in a railway under sentepetent to the Cofmnittee afterwards to reject the lidi on taking - ehould, at a meeting to be advertised. 'eenie t-, a ffi d t e •i o e i n si t o g n roun T ds he beit a i s g se s n h t ow o n f wh o y ne th fi eK h sho w u e ld nt corr t i l e e to l the conclusion that the Bill now before Parliament, to length authorise their projects should be withdrawn, the Bill of inducing them to entertain the Bill. When they considered eg should not then be allowed to be proceeded with ; that these resolutions would operate on every Bill, and that no but take the case of the representatives of 900,0001. Bill in the present state of public feeling would be entertained in a railway company, would it be just or without a compliance with them, he considered that the most reasonable that the hoidens of 180,000 L, whiell aas the beneficial results would be the consequence. Various objet ' fifth of that gum, should be allowed to decide the fate of tions were started, and one with regard to persons who had a the undertaking. The Right Hon. Baronet had very right to interfere, but who, by these resolutions, truly stated that the state of the law on this point would not be enabled to do so. It was only was very oncertain and undefined, and the those who could show that they had really paid oppressions that parties had been subjected to in their deposit who ought to have a voice in assent or dissent at those meetings. It had been said that they ought not to take consequence of that uncertainty had been very great. invoting In fact, he had a letter from one gentleman, whose awa y the right of the original shareholders• at name he did not think proper to mention, who had ac- such meetings. He could by no morns agree to that view of the case. If they hasi paid on their shares with tions commenced against him w hi c h would involve the intention of becoming bona fide shareholders, if they had him in expenses amounting to 90,0001. The llouse would taken up their scrip with the view of becoming investors in the probably have read the account of the late action of undertaking, they would have stood by the schemes whether Woolmer v. Toby—a new trial hod been moveil for and successful or not. The fact of many of the f original h i r obtained, and the consequence would he that most shareholders, however, probably, fix the next eighteen months or two the scheme turned out a eneficial one, it was no scrip, they had no intere h s a t vi vo ng ha h tev d e i r s t i l a r e _o d m the e Act their years, the public would be left quite in the dark as to the real state of the law oe this question sotahflee.tmhealnf wrhoofitadLotlwdihthisatasnhdarinegs w h h e o would h a had signedr ece e iv e the e y share deed Under these resolutions no Bill, either English, Irish, of the c p ompany.—( Hear.) . By parting wit his scrip or Scotch, could pass. There would be power he had forfeited all interest in the undertaking. enough to carry the second reading and the Bill He agreed with an Hon. Member, who had spoken this even ts; the Committee, and in that time suffi- ing, that it would not be safe at the present moment to go 6ex:it expenses might be incurred to ruin a great further than to apply the resolutions proposed by his Hon. many people. Those were considerations which he Friend to t the Bills -- 1 - J ita w ß E b e fsaid the Parliament. object of the resolutions was would venture to throw out for the consideration of the Mr. LA". twofold. First, to pass a Bill to regulate and amend the Bills Right Hon. Gentleman, and he would suggest to him under which railway Companies were constituted, and b' the propriety of taking steps for facilitating the windin which they were carried on ; a n d, secondly, to discuss ' tap of railway companies, as few of the Bills had rea ched the general question of railway speculation, to their second reading. which he should shortly devote his attention. The SOLICITOR-GENERAL rose to support the He heartily rejoiced that her Majesty's Government had turned propositions which had been submitted by his Right Hon. their attention to a subject of such paramount importance. Friend. The first matter which they had to consider Any one who had the paid slightest attention to what had been was. what were the evils which they were seeking to going on during the period of undue speculation must have stemedy ? The first great evil was that which had been seen that the attention of the Government should be directed, adluded to by his Honourable Friend who had just and the intervention of the Legislature asked, to put an end addressed the House, that these companies were totally to a state of things which were extremely prejudicial anew institutions—something which had not before to hadividuals, and not creditable to the com mercial character of th e coun t ry . Th ere was on ly one c misted, and therefore the la w r es p ectin g the m was m r o oint d with this su to h he should venture most complicated. The questions of law which arose vert ; reference namely, to what the bject Right w Hon. Gentleman had' s were most embarrassing and difficult , in conse- stateda with respect to reserved shares by directors of railways. qtuence of the extent of the transactions, and the num- He confessed he was rather surprised at the innocence of the leer of persons engaged in them. He found, Right Honourable Baronet on the subject, because he from the statement which had been male to the House, thought the prevalence of the practice was a matter that the railway Bills which had b( en passed the year of notoriety, and, he might add, scandalous notoo before last, and last year, would, for their completion riety. This system of reserving shares on the „rind carrying into effect, require upwards of one hundred part of the persons who, from their station and influence, he millions. It was the general complaint of the eommer- thought would have been incapable of such a proceeding—this t tial community of this country, that before these Bills could practice, had been carried to a very great extent, and had the ji. ass into a law, and the greater proportion of capital called in, effect of completely deceiving the great body of the public tl se locking up of the deposits would keep out of the circula- —those persons of small property who were inveigled ttti on of the country a sum amounting to from ten to twelve in shoals into these railway projects. He repeated, that by e millions of money. That would seriously interfere with the reserving these shares, which the parties either allotted to cm timercial operations of the country, in every one of its themselves or their friends, they also .frequently came -, braitches. They had heard this from the Noble Lord the off scot free themselves, and deceived those whom Member for Liverpool, who had presented a petition contain- they had induced to join them. lie did not know - ' 'ing complaints from Manchester and other parts of the country. whether it was possible for the Legislature to check these They heard the loud complaints in the City, and in Scotland, evils, but if the Government would, by the Bill t - „that all commercial operations, large and small, from the they were about to introduce, remedy the abuses, he tho ug ht they would be accomplishi n g a v er y grea t advantage. Th ese , . opulent banker to the small tradesman, were depressed to an things, . - alarming degree by the want of that capital which constituted however, would be matte r f or di scuss i on w he n t h e Bill their means, and which was taken from their hands and from came before them, and he should confi n e th e f ew o b servat i ons the country by the continued demands of further calls on these he hail to make to the present proposition of the schemes. How was this to be remedied ? It had been sue- Right Hon. Baronet. He had ob se r v ed, wi th sa ti s f act i on, a ' gested and urged upon her Majesty's Government when this desire, on the part of the House, to give a general support to . state of things was beginning to be felt, before the meeting of the proposition ; and, for himself, he was ready to say that he Parliament, that some measures should be adopted for selecting concurred in the conclusion which the Right Hon. Baronet from the numerous schemes brought under the attention of the had come to. He thought the course recommended by the Legislature those which might seem most necessary and reason- Right Honaurable Baronet was the hest they possibly able. He could not think that those who offered that suggestion had could adopt under existing circumstances.—(Hear.) He properly considered the difficulties of selecting from 500 schemes did not mean to say, however, that it was not open to those which ought to be submitted. When they censidered objection and inconvenience, but in the present stale of things the numerous grounds and various ingredients which entered it was impossible to take a step which would not entail incon- ' into an inquiry of that kind, as, for instance, which of the veniences of a dangerous nature upon some patties. All the projected lines was the moat direct, which passed through other suggestions he had heard spoken of were surrounded . the most populous district, and other investigations with more objections than the recommendation of the Right of that nature, it was impossible to go through all these in- Hon. Baronet; and on the whole he thought it was the quiries without exercising all the functions delegated to Sub- best they could adopt. He must say, however, that he could Committees. In fact, it was found impossible to make such a not agree with the opinion of the Right Honourable selection. All the commercial men and others who Baronet that this was the legitimate and proper time for bringo have given their attention to the subject were unable ing this measure forward, for he recollected a speech. which to make any practical suggestions that the House could the Right Hon. Baronet himself made at the commencement safely adopt. There were four distinct classes with whom of the session, which left an impression upon his mind they.would have to deal. The first class was the provisional that the Government considered the subject, and committee, or directors, or the governing body. The second had come to the conclusion that interference was takes was the original subscribers, who had subscribed the necessary even at that time. That was the im deede bet had ceased to possess an interest in the project. pression on his mind, and he believed it was this The third class was the holders of scrip ; and the impression which the public generally had after reading the fourth class those who had given credit to the company, speech itself, but more particularly the speech made at the and who were creditors in many cases to a large amount, same time by Lord Lincoln, and he thought it would have They-now saw the state in which they were situated. It was been better had they taken more decided steps then. better that a plan should be submitted which would allow He thought that in questions of this kind it was the duty of the Parliament to select the best scheme, and this Bill would have Government to undertake the responsibility.—(Hear, hear.) . that effect. As he said before, the promoters of many of those They ought not to wait until the public out of doors were in a complete ferment in consequence of the uncertainty of the law. Bills Were placed in great difficulty, for there was now no means of diaso/ving these schemes without the sanction of the original —(Hear, hear.) And he therefore could not quite agree shareholders, many of whom had parted with their scrip. If with the Right Hon. Gentleman, that he had b een very there were no means of dissolving those schemes; what would felicitous in introducing his measure at this parti cu l ar p er i o d . be the consequence of companies dissolving themselves? If However, as it had been proposed at last, he was prepared there With a company—and he was sure a great majority of them to give it his cordial support. There was one inconvenience Were so—in which the great majority , of the directius were honest, which would probably result from this measure—he alluded to and &great majority of the shareholders were honest , wh e re they the new companies which h a d l a t e ly b een pro j ected as would be willing to dissolve, they were under this difficulty, rivals to the great independent railway companies already that they were not legally able to do so, for they were bound in existence. This' measure would' most probably have the by their contract deed to carry out such works. They could effect of bringing these projects to an end, and the mot dissolve, they must proceed with the object of those deeds public would consequently be dep r i ve d o f t h e i nterests or they might be proceeded against by actions in Chancery. which they must have received had those companies they being bound by the various covenants into which they had succeeded as rivals to the already existing companies, entered.. He could state on his own knowledge, there were and he thought that the Government should have taken that many' companies who were willing to give up, but for being point into their grave consideration. This, he confessed, so bound; and they were thus compelled to go into was a very wide subject, and he would not .say whether Committee and incur - great expense by employ- it was an evil or a good; but he would say that it was the duty wig engineers and witnesses in the inquiry. of the Government, in these matters, to protect the public During the prevalence of the wild mania of speculation, coin- interests. No doubt her Majesty's Government had taken the - panics which were supposed to have immense sums of money, advice of competent parties before they had ventured to propose were projected, the unfortunate speculators in w hied', by yen- the present measure, and must be better informed Using to purchase shares, and by paying the deposits, rendered than any Honourable Gentleman who might offer themselies liable for the expenses, and if the Bills should pass his suggestions across the table to the Members o f th e Govern into law to su b sequen t ca ll s hereafter, and possibly to. the full meat. At the same time he would venture- to make one amount •of the company, or that portion ,of it 'for or two suggestions - upon- this subject ; one of'- those which - they had subscribed their names. . In some suggestions was this—whether it would n ot b e 150,000'., and one company, he knew 2 0 0 , 0 00/ , were paid in possible to propose as an alternative to the scripowners, that. to the Accountant-General, and there was locked up not they should have the power of expressing their wishes and opi only from general circulation, but beyond the reach, as the nions as to the desirableness, or otherwise, of proceeding law now stood, of those unfortunate persons who had subscribed with their Bills by written communication, instead of it, who had no power to abolish the company, so that their being compelled to attend at those meetings. money was for ever away from their hands, and was subject It was not stated when the meeting of the scripholders - was to to the Act of Parliament being obtained. But it was take place. An Irish railway company might be summoned evident that three out of four of the Bills before to meet in London. With regard to the suggestion of. Parliament could not, on any reasonable foundation, hope to his Hon. Friend, the Member for Weymouth, to receive the sanction of Parliament. Even if they were w e ll postpone all railway business, to avoid subjecting advised to stop they were unable to do so, or to the parties to any inco nven i ence or expense, until obtain their money from the Accountant-General, this Bill should be passed, he doubted whether anyhenefi and in the meantime the provisional directors, who cial object could be effected by such a course: The alone. had any control over the fund so d e p os it e d, people would know the persons connected with these were obliged to continue their exertions in the chance of ob- companies, and would judge whether there was any taming the Bill. Then,' again, it was not the rejection of th e Prespect of the shareholders o f t h e . company persisting Bill that would enable the company to dissolve it s elf, an d in desiring to pass the Bill ; and h e t oo k it f or granted that thef, obtain the money from the Accountant-General for would in most cases avoid passing the Bill through unne cesso O y . distribution amongst the shareholders. The Bill might stages, if it was not their intention ultimately to proceed be rejected, and, although introduced into successive with it. He would not trouble the House with any further ob s Parliaments, might not stand the slightest chance of success, servations. He should only state that he heartily'rejoiced that but yet in the face of all this the promoters must go on with her Majesty's Government had directed their attention to this the pr o j ec t i n th e endeavour t o ge t th e Bill i n a future sess i on. i mportant su bj ect ; and he thought that their proposed pro- Still the money was locked up, expenses increased, and there ceedings would give satisfaction to the country. was no means of putting an end to them. ' Th e l aw , as hi s M r . HUDSON sa id t h at h e fu ll y agreed w i th her Ma- Hon. Friend stated, gave them no power to dissolve. jesty's Government in the time which they had chosen for this In the existing state of things they would have managing corn- measure, for the present time was almost the only one in which raittee-men bringing actions against allottees and subscribers, they could act effectually i n thi s ma tt er . H e b e li eve d t h at if and allottees and subscribers against comm itt ee - men; b ut in' the Government had brought forward this measure at an the preaent state of the law it was impossible to say whether earlier period of the session, it would not have met these actions would be .maintainable or not. There could with the public s upp or t w hi c h i t wou ld meet w i t h on th i s be no doubt , ho wever , th a t t h ese part i es would. go on bringing occasion. The measure would be placed on a sound, solid actions against each other, the one relying upon th h de c i s i on,o f basis,_ for parti es wou ld ser i ous l y cons i der the position in which Wilmer and T o bi n , w hi c h h e contended was ne decision a t all, they had placed themselves, and the consequence was that by for the learned judge pronounced no opinion upon it, and what the meetings that would take place under this measure he did say was incorrectly repo r t e d i n t h e newspapers, and little trouble would be given to Parliament to decide on theie the consequence was that upon the faith of the verdict in the cases. He did not deny that during a short time there had case, 300 actions were commenced by three companies alone, been an excitement in the railway world, and it had arisen from thetf existing a companies. Every erson and ihe other relying upon the decision of Walstead and Spot- the successful tisworlOt Thus speculation having ended in railway shares who had consideredragrepresent uloiect companies,fors aw thatitld be othersthe the p ar ties commenced. . speculatin g ; .n actions at law; effect of the success of the and reallY in his opinion there would be no end to wouldattempt anwd° '' d mischief. That all these evils could be the like success, at the time when the parties the litigati on an re- who had been toiling in the field for a long time began tive • measures it wah 'in to reap moved by Legisla vain to the harvest of their endeavours. He to entertain a had not been unfaithful hope, b u t he ventured strong exp ect hereafter adoptedthe ' to the public on that occasion . He held in h• ishand a long tation that ; if parliament_ Bill paper , in which he had to them b Gover taken the trouble of collecting the which would be submitted Itts y th nment, numerous observations made by him at meetings which he had and in the meantime the present reso u ro a n a ,_ a _ e a evils them- attended, and in which he had cautioned them against these selves m'eht not indeed altogether be blih d, but they wild speculations and their most salutary check.---( Hear n results.—( Hear, hear.) It was of would at all events receive a . . . , o use ; and had her Majesty's ? Without going into the that hear.) Now, what wortld this Bill be time, it would have been said they were interfering House of the sub- with details, he might in a fex words possess the measures for the benefit of the first place power would be of no use to tell them country. It would have been staritial parts of the Bill.. In the f shares ,between u CI h that their works should number o . . n t t ey had got certain not commence given to the holders of some small d and the obtaining Had her Majest ' G sums of money to execute them. the time of signing the itubscription 4:e ! the managing that they ment interfered then, he was satisfied of the Act of Parliament, through to allowit would not have interfered successfully , and it better committee, to call a iteeeting of shareholchtt's to kn The measo t r o e run on until a stagnation of public opinion was sider the propriety of proceeding with the unde:ta mg. - 1 1. He owned that s Tr proposed would have a salutar e occurred. fi.ect It was proposed, that when the meeting should be convene, . nication, and t ere 7'" great advant ' 1 y . e in rai way commu that proper machinery should be provided for taking by proxy, an , that it was of essential importance to the country, or personally, th e votes of the shareholders, and if they sobut excess of speculation might be injurious. There had been choose they might come to the resolution to dissolve the coin- a statement made in that House, on the . authorit y pany at once, the number required to vote for that resolution person from whom, however eminent or distinguishe mlgh a t being at least three- fifths of the whole. Proper provisions would be, he (Mr. Hudson) felt bound, in justice to Parliament and also be made to enable trustees and all perso n s of an official d m _ t o the country, to differ. The statement was, that the expense ratter to vote at such meetings, and if the required majority came of railways thathad increased 50 per cent. He did to a determination at once i'o wind their affairs, their concern not agree h with s t t o ateT l ent, and he thought that nothing than would be brought to a termination in the same manner as all could worsee He would a referow such an opinion to go forth to partnership concerns were winend up. The directors would the country . pocket, which bore some° r a e e r a e p n er which he had in have power of possessing themse:ves of the funds of the corn his been connected with railways for a ee° series of matter. and pany, which they would have to dispose of, in the first place, in He had amount of capital entrusted to him of a yeara, the discharge of all liabilities into which they had entered ; had thelargestthe country, but he would be ashamed of privateao a and, in the second place, they would have to pay the surplus in individual in he declined to come forward and give such inforrna a fair proportion to such as were bona fi de holders position if in reference to this subject. With of shares in the company ; and he had hopes that tion as he could supply the price of iron was 10/. Midland Company , there would be large surpluses in most cases. The pro- respect to the Mid its construction. The sleepers were 7s. posal of the Right Hon. Baronet would create no new liabili- per ton at the time of , mg else in proportion. The and everythi n g ties, it would onl - relief hdesirous to • e and land, y give to each as were re- a thee , from 4s. t iron at W. the ton, and sleepers lieve themselves from the which they had entered other day he bough in general were not into in a time of engagements hear. ) to ss. Land also was cheaper, and prices, great excitement .—( Hear, He had a few further observations to The present proposal would involve no new difficulties ; so excessive as in 1841. . of every company its only object was to prevent the waste and useless ex- make. He was quite sure that the directors . derine penditure of the money of the public in foolish . undertakings. would give an opportunity to the shareholders of consi .. e , It was obvious that time under the circumstances. With 1 some must elapse before this Bill the course proper to pursue . and he could pass, and what lway with which he was connected, was to be done with the three or four respect to one rat hundred railway Bills o others would be similarly circumstanced, weeks that must elapsenbewf before Parliament, during the few was sure that many of 300/ owing to the ex. To let these Bills go on wi Le this Bill could pass into a law. every 50/. share rose to the value • , . the evil to go on at th tit any cheek, would be allowing trtions of a few individuals, and himself among the number, e period of time when it was most who strongly supported - it He had great pleasure in support pressing ; but, on the other hand suggested by his Hon. Friend ? , T i e ui re l t i hey to take the course ing the resolutions. that they should do more than classify 0, on. ,Friend suggested Mr. MARK PHILIPS begged to say a few words on a that they should at once suspend ' eel; Bills he proposed question that involved so much public interest. He could progress, until some reasonabe these . Bills from say it was his wish, as some interference had taken place be furtherelapse for the passing of this Bill._ (gear, should fore now upon this subject. At an early period of the session he It would be better to allow these me eon's to be(ear, hear .) was inclined to submit a motion to the House for taking the and the Bills to be stopped. In the ' first calledplace at once, matter into consideration. lie thought the House would of petitions could be framed, it was necessary to have efore the itself have taken the matter up, and that they would have serious operations, which were certainly attended recoursewith some to come to a resolution of not taking any lines of railway this difficulty. Most extensive interests were a° °i° session which were of a competing character. That was his in many of these schemes, arid the involvedview of the case ; but he was told, that if he were to bring it in some cases, would be compelled to' d. proprietors , forward, he would most undoubtedly fail. He was certain that their vrojects without having had any opportunity of express- much capital had been absorbed in railway speculation which ing their assent or dissent... It would, perhaps, be advisablexire should have been laid out in manufacturing districts. He was of to postpone the consideration of some of these Bills t opinion that the development of the railway principle was future period, when sufficient time might be had for the o a of great public benefit ; and those who had studied pro- that principle were persons who would prietors to decide on the coue se most prudent t o b e pursued. It in the carrying of - h ave reflec•.ed h onour was proposed by these resolutions , in case the company h ear. ) They iacstu a d n i y ed g trheeat s mercantile pri nc i p l e _ t fl e et. , intended to be incorporaled, that such m eet i ng beneficial result, and they had conferredstem, and they had found a as constituted of persons' producing scrip of thi s good on their country. It was importantt to a large amount of w see that to n muc h company representing one -third - part of the capital proposed to capital was not dir ec t e d f rom the legitimate commercial trans be raised under this Bill, ,and it would appear, unless one-fifth actions of the country ; should s i gn if y th e ir a ssent, they would be overborne by the course would not i n t er f ere w i t h t h e full an - • - d fair development remaining shareholders. l 3ut then the Hen. G en tleman (M r . of th e railway principle, which he looked upon as one of the Bernal) asked, would they proceed on the assent of so small a greatest blessings of the country, he trusted it would check the mumb er e T o that he woui d reply, that by these resolutions evils resulting from undue speculation. On these grounds,' he an opportunity would be giv. to to all the scripholders to come gave his most cordial support to the resolutions proposed. 'forward to exp fths of thet a ress their sentiments on the sub j ect. If, Mr. NEWDIGATE said it was a general impr e ol o , t h at ho wever, four-fifths held back, and only one - the resolutions p ro p osed b y the Ri g h t Hon. Baronet were not tufth came f orwar d , that - c ircumstance proved that it his own. He (Mr. Newdigate) however concurred in what :Ras ti. fit Bill to be enterte 1. No doubt cases might be . PIO had fallen from the Hon. Member for Manchester res • pecting Stine evils of • speculation. The Right Hon. Baronet appeared to •him -to • have trusted too much _to the _operation of .his Bill of ,1844 to check this speculation. 1 t had operated no d..ulit with a heavy bent in interfering with speculation but that had not been sufficient, for it appeared that by the requirements of deposits they bad given scrip a character, which slid not belong to other kinds of commercial paper. It had been made to assume the character of money, and ex tensively employed in that capacity. He could see no due means of limiting railway speculation, unless all shares issued were registered. and to afford the means of access to the books " in which they werereoistered—in fact, to make a similar measure for the registration of scrip as had been done with respect to the money weekly issued by bankers, for it was evident that scrip partook of the nature of money, and ought to be sub jected to a similar provision. Mr. WARD agreed with his Hon. Friend (Mr. Mark Philips) that no speculation like that with respect to railways had existed in this city since the South Sea bubble and the Mississippi scheme. He also agreed with him that it had diverted capital from its proper channels. Persons of small means entered into this speculation to an almost incalculable extent, regardless of the consequences, and without any previous inquiry as to the feasibility of the pro jects in which they hazarded their capital—no one ii•quired where a railway went to_( Laughter)—or whether it was required in the district through which it was pro jected. He was sorry to say that he himself had taken a quantity, particularly in new lines. In one line with which he was connected he took a particular interest, and a number of shares, because he believed it would be remu nerative, but the very reverse had been the result. He had no objection, and hebelieved that none was to be found, in these resolutions. His impression, indeed, was that one-third of the shareholders would pledge themselves to move for no alteration, and that that measure would give them general satisfaction ; and this impression might not be the less from the circum stance that the success of several of the schemes had laid down a rule of the expenses which they ought to bear. Yet, at the same time, it must be recollected that the companies as they now stood were unable to divest themselves of the ex penses to which they were subjected. They could not divest themselves of the expenses of the inquiry, of the employment of counsel, and of all the other incidents which were neces sary to take the means for carrying out the project, and for the institution of such further experiments as were necessary to confirm the validity of the project. Then as to the third resolution, he felt it necessary to ask its meaning. His impression was, that those who were in possession of the scrip ought to be considered the boncifide proprietors. It was necessary to ascertain this point, because he believed that nine-tenths of the proprietors of the double schemes now in existence were quite ready to dissolve their companies since the commencement of the panic, and he would guarantee. his Hon. Friend, the Member for Taunton, that no attempt would be made to reiterate the scheme s o f th e last few years. He was no friend to partial legislation, but he believed that for the next twenty years such a lesson had been read as would be a sufficient guard for the time to come. On these accounts he was quite ready to assent to the words of the resolution. Very harsh language had been used with regard to the conduct of the proviaional committees and directors, but it was ad mitted on all hands that the late railway enterprise had been most useful, and that it was desirable for the interests of this . country that that speculation should he carried on. The rail way directors had, to the best of their power, endeavoured to ascertain the best projects in which the money of themselves and the public could he invested, and he could not conceive how Hon. Members could justly cry them down, although he must certainly admit that during the late railway mania there had been some exceptionable transactions. He could assure the Right Hon. Baronet that he laboured under an error when he conceived it to be his duty to attack the practice of reserving shares. There might have been cases in which those shares were reserved for the purpose of fraud, but he could assure him that the number of applications in railway projects had been so exceedingly large that it was found necessary by the direc tors to reserve the shares in the manner which they had. Out of the 500,000 applications for shares, he was sure that the Right Hon.:Baronet would, had he been engaged in these rail way undertakings, have found very great difficulty in allotting shares with safety to the 40,000 that had applied. The di reetors-had experienced the greatest difficulty in the. proper exercise of their duties. He could assure the Right Hon. Baronet that the greatest schemes had been used for the pur pose of deceiving the provisional committees. Forged names and false residences had been made use of is the applications for the purpose of deceiving the directors. He was perfectly new in the affair himself, and he had not the least doubt that a very great many errors had been committed in the allotment of shares in the company with which he was connected, but he certainly did, in his character of chairman of the provisional directors, reserve at least one-tenth of the shares of the com pany. Several Honourable Members of that House had found themselves involved in this railway speculation, from a desire, in common with people out of doors, to profit by it.—(Hear, hear, and laughter.) For his own part, he thought it was highly creditable for men to be concerned as directors in a re spectable railway undertaking. And of this he was confident, that these projects had had the effect of furthering the prospe rity of the country. He had no doubt that the share holders, in those companies that ought to be dissolved, would take the earliest opportunity of availing them selves of the advantage held out to them by the resolutions of the Right Honourable Baronet, at least to proceed with their original intentions. After what they had heard, and very truly heard, of railway speculations in the course of the summer, this proposition was only making an appeal from Philip drunk to Philip sober, and giving them an opportunity of recording their opinions. He felt that there were some objections of a smaller character, but they were doubtless considered by the framers of the Bill. He would give his support to the proposition. Mr. F. W. BARING, who was very indistinctly heard in bis opening remarks, said that not the slightest objection could be urged to the proposition of the Right Hon. Baronet. It was in reality an appeal to the promoters of these schemes— it was giving them an opportunity of reconsidering their con dition—it was asking them indeed whether they were prepared. Hehimself would gladly give his vote for the dissolution, of the company of which he was chairman. He, like several other railway directors, had been put to much expense and trouble, fur which they expected no thanks. That was the benefit - connected with these railway undertakings.—( Hear.) Mr. B. DENISON confessed that he originally thought that some steps ought to have been taken to pat an end" to the mad . speculations which were convulsing • the country, and which -were withdrawing capital from their wholsome and natural channels. It had the effect of locking up capital, which otherwise would have been freely circulated throughout the country; but, however, he thought it was better now to interfere than not to interfere at all, and he certainly should give his hearty concurrence to the proposition of the Right Honourable Baronet. Some Honourable Gentlemen had com plained that the contingent expenses attending the committal and second reading of the Bill would be still increased, but he for one could not see how they could be. Parties might avail themselves of the resolutions within ton days from the present time, and if they did not meet with sufficient en couragement they might abandon the Bill alto gether.. There was another point to which he wished to call the attention of the Right Hon. Baronet, who, in the course of his speech made an allusion to a recent statement made by Mr. Brunel, as to the cost of making railways. The Hon. Member for Sunderland had answered that statement, but had he not, he should have felt it to be his &Ay to state, that he had put himself in communication with parties who were in the habit of contracting for the construction of railways, who told him that "Mr. Brunel's statement was a most extravagant and in cautious one. He believed there was no doubt that a railway coald be made at very little additional cost to what it would have taken lately.--( Hear.) The Right Hen. Baronet, hi the course of his speech, referred to a letter relating to the London and York Railway, and seemed to do so with a view of convincing the House that the directors of the company were disposed to break up the company. Sir ROBERT PEEL—No, no. Mr. BECKET T DENISON said he knew instances in which competing companies were - buying up shares of the rival lines, for the purpose of obtaining a majority in the meetings proposed to be held under the provisions of the pro posed Act. It was in the case of the London and York Rail way. The Eastern Counties Company, of which the Hon. Member for Sheffield was one of the directors, were doing so at the present moment; and he thought that was conduct which one company should not pursue towards another. For his own part he would not do so; he did not possess much in terest in that railway—he held but twenty shares in it—he supported it upon public grounds, and with a desire to obtain the best mode of communication between London and York ; he had no fear as to the ultimate success of that line, in spite of all that opposition.—( Hear, hear.) He thought the proposed Bill would give to competing lines advantages which might be unfairly used against rival companies, and enable them to burke their competitors. Existing companies would have a very decided advantage over those who were mere promoters of lines, and he considered that no person should he allowed to vote at these meetings who was not a holder of scrip on the 4th of April last, which was the time when the first notice was given of their intentions. The House was aware that when a motion was on the paper which was not agreeable to parties, those opposing it refused to come into the House in order that there might be an adjournment. This would be precisely the mode adored by those opposing a line or wishing for its dissolution. If he would permit the meeting to consist of one-fifth of the whole shareholders in the first instance, instead of three-fifths of the amount as pro posed, it would be a simpler arrangement, and collect the opinions of the shareholders much more effectively. Parliament, if it could set its face against this undue specula tion, it ought to do so. He was applied to repeatedly to be come a provisional committee-man, but he invariably refused to do so. During the whole course of the autumn, when the railway mania prevailed to its greatest extent, he actually trembled at the extent of this speculation, and en account of its consequences ; and he advised his friends to abstain from speculating in railways. The CHANCELLOR of the EXCHEQUER said there seemed so general a concurrence in the resolutions proposed by the Government, that it would be unnecessary for him to ad dress the House at any length with respect to them ; but as certain objections had been taken as to the course of the Government, he should make one or two observations in reply to them. It had been, in the first instance, stated that the Government might have interfered at an earlier period with respect to those projects, and more directly than they had-now d sv o a ri s e c . a r r E i evderwy aosn ine w i t h s o e had apdr pregnant watched w e d theth progressconsiderable c u c o r t a e ge snp Jation in r a il ways, must be aware that the extent to which it t of o t s h e e on w countryhom; he ned thought placed he e t h h e w s i i taanay tion in which h e was, he certainly did use a ll t h e means h e the commercial t odiv a ; h influence from embarking,' in those speculations, or giving their countenance to them ; but it p peered to him that it would reach to an extent which Parliamenta could not "possibly foresee. It is true they might, b y the adoption of arbitrary" measures, have materially reduced this speculation, by only al lowing the introduction of Bills required by the wants of the country ; but then the difficulty of selecting those which should be proceeded with and those which should be withdrawn. The difficulty of this was foreseen by the Hon. Member for Manchest , 'r ( Mr. Mark Philips), who suggested the with drawal of all competing lines from Parliament ; but that was attended With enormous difficulties, on account of the selection of the course. This opinion was Klan expressed by the tur Hon. n Member for Sunderland ( Mr. Hudson), which was no douht, in the recollection of the House. •t advisable to pursue, was The only course which they thought . to allow the public mind to cool a little, and that there should be some souse in the public mind of th e danger of these spe culations. That period at length arrived, and the public now saw the danger of these speculations and the responsibility attached to them. They had, by the delay in bringingi for ward this motion, gained the concurrence of the Hon. Mem ber for Sunderland. which, if they had brought forward such a Bill before now, they would not have gained. It was sid that they had done wrong by not having legislated for this before such Bills as these went into Committee, and saved such parties expense. But this could not have been done, There had been a Bill progressing in the other House which effected the whole question. If the assent was given to the third reading of the Bill by the proper constituency, there would be no further interposition between the third reading of the Bill. His Hon. Friend behind him had said that a check should be put upon those who had purchased scrip on these inchoate railways, because if that was not allowed, those great railway companies, whose interests might be furthered by the dissolution of several of the present railway pro jects, might, before the proposed meetings were called, purchase shares in those companies, for the express purpoie of enabling them to vote for their dissolution, and thus removing rival comp an i es out of the i r way; but his Hon. Friend shoUld recollect that it was impossible to impose such a check, because they could not ascertain at what period those scrips were issued THE SUN, LONDON, FRIDAY EVENING, APRIL 24, 1846. becauseeef the infinite rapidity with which they passed hands. He, was satisfied that the present proposal would have the effect of more effectually prevenen e tricks being practised than under the present l aw . H e wished not to imp:ach the privileges which these several members possessed; but he. at the same time must remind the House of the peculiar position in which these member, were placed. As, for instance, in the case of a large company, it was very evident that they possessed p .wens to make interest in the smaller companies, by buying up their shares, and against such reports he had no such complaints to make. Yet while saying thus much, lie be lieved that the resolution was no sufficient remedy for the evil ; for it was well known that the shares changed hands with ra:. pidity, almost with incredible rapidity, and that consequently the danger that was to be apprehended, and the risk, of which so much had been said, was to be provided against. Mr. GISBO N E would only detain the House but a very short time,. and, in doing so, he should beg to refer to his lion. Friend the Member for Manchester, and the Right Hon. the Chancellor of the Exchequer. In doing so, he must say that the course which the Government had prescribed was contrary to the object which the Bill was intended to attain. Their object evidently was to carry a restraining Bill ; hut by this measure it would seem that, uncisr the present state of the law, such a measure was impossible. He wished that the Right Hon. Baronet, the First Lord of the Treasury, would act upon the principle of the Chancellor of the Exchequer. Now how stood the case? A man was allotted 100 shares in one of these now companies, upon which he paid a deposit of 2/. per share on 2001., and afterwards sold them at a premium for 700'. Now he was informed, at least he gathered from the newspapers, that in the event of the Government Bill not passing, the purchaser of the scrip would be at liberty to bring an action to recover back the premium he had paid, and how, let him ask, would this operate? Why, when called together under these resolutions the scripholders would say to them selves, " If we sanction the breaking up of this company we shall abandon our right t o rece i ve t h e premiums we paid on our shares." 'the SOLICITOR-GENERAL said it was quite clear that that the purchaser of scrip never could recover back the price he had paid to the original allottee. Mr. GISBORNE was glad he had called attention to this point, for it would have the effect of appeasing the public mind on the subject. Lord SANDON had but a few observations to make upon the subject of these resolutions. He confessed he had received them with most hearty satisfaction, and should give them his cordial support.—( Hear, hear.) The prin ciple would be for the Committee, in deciding upon the various railway projects, te discriminate between the inde pendent lines and those which were intended to be constructed by companies already established. He should feel himself per fectly at liberty in deciding unhesitatingly in favour of those schemes which promised most fairly for the benefit of the coun try. If the House thought proper for them to be carried into effect, and that they would result in the public good, there would be no difficulty in allowing these projects to be pro ceeded with. The only other point to which he should call the attention of the House was as to the inconvenience of fixing upon the period antecedent to the third reading as a time at which these resolutions should have effect. It had been stated by those who were sensible that their Bills were not likely to be carried out, that they would not have sufficient time to canvass the feelings of their constituents, nor could they take upon themselves the responsibility of witholdieg the further progress of the Bill. He would appeal to his Right Hon. Friend, whether parties were not at present com pelled by the sessional order of the House to go into Com mittee within a limited period from the presentation of the connected adopted, withi w o petition ? He thought that that sessional order should be amended in some degree, in order that the parties promoting Bills might be restrained from going into Committee. If the ccoountresentihoeu wash of ad ma su z y g e p s a t r e t d ies c w il o it u a l t d e the contention of many parties connected with Bills, would re move a great difficulty, and would issue in reconciling, to uldfa some extent, the conflicting interests of the railway public. Mr. WILLIAMS observed, that amongst the numerous Bills before the House, there were several which contem plated the formation of long lines of railway, and which were in possession of enormous capital. Was he to understand the en tire capital of these companies was to remain in the hands of the directors, to be disposed of at their will and caprice? The persons who had requested him to bring this question before the House were of opinion, that the class of Bills which comprised large undertakings might be dealt with in rather a more sum mary manner than Bills of this description generally before the House. Now, it was no very simple thing to make an applica tion for a Bill in the next session of Parliament. There were the details of the traffic to be gone into—the surveys must be completed—the whole of the notices must be properly served, and the estimates must be minutely calculated and fixed on. And further, by the standing orders of the House, an entirely new subscription deed must be made out. With those com panies who were compelled to wind up their affairs, by giving power to them to enable them to come before the House at any future session of Parliament, much difficulty would be created in the operation of the law, and many subsequent al terations would be required. The SOLICITOR-GENERAL said that the object of the resoluti .ns was merely to enable the parties connected with railway companies to dissolve, which was a right that they at pr sent were not legally entitled to. But with respect to giving them power as regarded any future application to Parliament, that was a purpose not at all contemplated by the Bill. Mr. WILLIAMS again urged that power had been taken by the managing directors to take the control of the capital into their own hands, and they had retained this immense amount of money to proceed with their Bills at any future session ; and there were no legal means by which the share holders could compel the managing directors to wind up. The directors had the power of adding to their number, and conse quently of increasing their influence. He had, therefore, hoped that the Hon. and Learned Gentleman would take into his consideration the position of parties connected with projects to be carried on to a future session. They were placed in a worse position than those who had Bali already before the House. The SOLICITOR-GENERAL observed that it was one o 1 the especial objects of the Bill tO pre;vide for that class of cases which had been alluded to by'the Horn. Gentleman oppo site. That power would be given to a certain number of shareholders in the undertaking, which wouldirender it compnl sory in them to wind up the affairs of the company. Mr. COLLETT was much. obliged to her Majesty's Soli citor-General for having explained various. points in the reso lutions before the House. He considered that,,the directors of many of these schemes had been very ill-treated—they had been subjected to a deal of bard work, were exposed to Misrepre sentation and insinuations of various kinds, and yet they were bound by their position to retain the original amount of the shares which they had. With respect to the third reading, he really thought, that before any progress was made in railway Bills that some regulation sh ou ld b e a d o pt e d t o prevent t h e further carrying on of those schemes before they arrived at that period. He would only say, with respect to the estimates of the construction of the li nes , t h ere was no i ncrease what ever in the price of the mat er i a l s. Th ere was only a s li g ht increase in the price of labour, and a trifling increase In the coat of conveyance. He firmly believed that contracts could be perfiirined at a lower rate during the present year, than they could have been done during the list' ,year, or any previous year. The Hon. Gentleman concluded by expressing a hope, that the powers of the different companies might still be continued in the hands of the directors for the purpose of winding up the undertaking. The SOLICITOR-GENERAL said it was the intention cif the Bill to enable the shareholders to bring before the directors, in as unanimeus a manner as possible, their wishes as to whether the Bill should be proceeded with or not. He thought that, considering the importance of the questiOn, there could be no objection to relieve the directors of a portion of the responsibilities by throwing the onus on the shoulders of the shareholders. Mr. O'CONNELL was grieved to eonfess that the Right Bon. Baronet had made out a complete ease for this House. and woulddead to no end of com. What was the effect o f th ese resolutions? They raised a numer ous array of other question s, plicated He did not k no w a worse tribunal to dis- cuss a question of this nature - thana House of Commons. They diminished a number of railway schemes, hut then the number of Bills was increased. They should have something like a railway at home. They ought to have a rail way judge, and to him should be committed the care of these matters. Let it not be considered that the appointment of such a tribunal would be extraordinary. 'They had separate judges in different departments of law. There were ecclesi astical judges, judges in the civil courts—and there were even registration judges—then why not a railway judge and a rail way court? The Hon. Solicitor-General had told the House distinctly that the power of dissolution was compulsory. Now how was it to be made compulsory? An Act of Parliament could not be considered compulsory in questions of this kind, because the utmost they could do would be to levy a tine, and it would be difficult to enforce those fines. They ought, then, to have a railway court and a railway judge. Take from the bar one of those gentlemen who by their attainments and their experience are entitled to the confidence of the public, and make him a railway judge. It might be said that the ne cessity for such a judge might not exist for more than two or three years. Well, then, the expense of the experi ment would be diminished. The confidence which would result from the present state of the administration of railway affairs would be, that one would apply to - one court, and another go to another tribunal, so that the litigation on these matters would be greatly extended and greatly amplified. He would submit to the consideration of the Government whether these difficulties would not be obviated if such a court as he had suggested was appointed. The thing itself was a novelty. Those railways destroyed the whole common law with respect to public ways. The public ways were understood to be the property of the public, but since the railways came into opera tion there was no such thing as the public claim being recog nised. He therefore suggested the propriety of having these matters investigated by a railway judge. After a few words from Mr. PACKE, Mr. MILNER GIBSON wished to ask a question of the Hon. Solicitor-General. He wanted to know whether, if a _ _ shareholder who had purchased scrip in the market should attend a meeting, and sign a petition, his position would be altered, so as to lender him liable to come under the same pro visions as those to which the original allottee was liable? The answer of th.s Solicitor-General did not reach the Gallery. Mr. BARKER wished to know whether the scrip holders who signed the requisition that a project should be carried through did not plac e themselves in t he position of ori ginal shareholders? Th e SOLICITOR-GENERAL said that the point wa s th e subject of his most anxio us consider ation; and he cou ld not press the excess of answer it at present. this matter, but he (Lori),l,7lrgtoe f A b l u e n ra d b e:l r on fo a r Lord G. BEN TlNCKbustabide was st ghreeadtliyd r n e o i t e d e e d sir t e o stto:edis the measures tending_ to re people drunk t werehe tigiu tiosr n ioi r s l o e laur r nt l ed a to n i for d an: i h .po: a ncf d expressed ba'is' courage those r au a ll i a lw ti a o y n. spe n cu i l s at H io o n n s . wF•hriiechnd Bentinek) could not concu; in that approbation of their con her Majesty's Government in duet. The Right Hon. Gentleman, the Chancellor of the Exchequer: had drawn thatinn between the anti the people sober; he (Lord G, BentinnekP ask whether her Majesty's Gavernment had not had 1-areat share in making the people drunk on railway sp ecu l ation i'• u to the year 1844 the excess of railway sPeeulation was checked by the necessity that exireed of making a deposit of 10 per cent. on the shares.- Th3t was a wholesome reetrieti,er on wild speculation, and had the rff'ct of preventing schemes. In the year 1844 her Majesty's ( - e : ever ranent red o bb ce ' d the deposit from it) per cent. per share to 5 per cent;, and that reduction tended very much to encourage wild spect- i lations in railway matters. But. this was not all. Whilst the money market was easy in tire year 1845, those speeulatiens ' on railways rose to a still greater height. i • L w a , an established rule at a Board, at the head of which sat . a nobleman of po wer , fill understanding; and a perfect man of business —he meant Lord Dalhousie, the Chairmancf the Boa r d of Trade—to dia_ courage the number of campetine- lines already in the market. The Government did not • endeavour to b ac k the Board of Trade, but ox the contrary. The Right lion. Gentleman at the head of the Government stated in that H ouse, that it could not be e ndured that large towns should not have the shortest and most direct railway communication. What was this but an encouragement to this sort of speculation, and an inducement to set o ur lines ii h r oppositien to the old exist ing lines of railway ? • It was in d t at way that a.great parti of the railway Speculation origlinate . The Right Hon. G ent l e _ not content with increasing these railway scherries in man was but he also stated that it was not to be endui-ed this manner, Manchester, Liverpool, and that such towns as Birmingham twelve miles round, should have to send ten or t Wh en t h e lion. Gentleman encouraged these schem es in this way, no person could be surprised that t he public entered into these ' I speculations, but not only did he encourage them in this way, the Right' Hon. Gentleman consented to be the hero of the silver trowel ank the mahogany wheelbarrew.— (Loud laugh ter.) So much was the support of these speculations attributed to the Hon. Gentleman, that in the town of Burton, in the neighbourhood of Tatnworth, there were no less than eleven competing railway schemes got up by enterprising specula tors.—( Laughter:) Mr. CARDWELL said that he would be excused for not feeling with the Noble Lord in the allusions which he had just made, but as one observation he bad made partook very largely of matter of fact, he (Mr. Cardwell) would take the liberty of stating his opinions with regard to the important statement with e hich the Noble Lord had commenced his speech. The Noble Lord said that the Chancellor of the Exchequer had spoken of the people drunk and the people sober, and that if the people were drunk, her Majesty's Government had made 'hem drunk, by the alteration which had taken ,place in the rate per cent. with regard to the deposits. If the Govern meet made the people drunk, and caused their speculations in these railways by that circumstance, he would add that it was in the,year 1844 that trade was not in a good condition, and I that the money market was not flourishing. In the year 1844 also matters began to mend, and railway speculations began to increase. If her Majesty's Government caused this increase, it we, because they improved the state of trade, and rendered more easy the state of the money market, and that improved state was the eause of the evil complained of. The statement was not his (Mr. Cardwell's) but the Noble Lord's, who drew his own deductions from his statement, and he (Mr. Card well) now defied the Noble L 'rd to deny the correctness of his inference. He did not think that the Noble Lord would deny that in September and October last the railway mania or intoxication was at its height, and the rule then in force was, that previous to the presenting of any petition for a railway, the sum of one -tenth per cent. on the money to be subscribed should be deposited in the Court of Chancery. If the intoxication con ti nue d at its height, with the necessary. deposit of 10 per cent., how could the absence of 10 per cent. have caused it, and therefore how could the Government have given rise to this speculation ? Mr. HODGSON did not agree with the opinion of the Hon. Gentleman who had just spoken. During the period of de pression which preceded the year 1844 it was difficult to obtain m mey to promote these railways, and the deposit of 10 per cent. was enforced ; but in the year 1844, when trade was good and money became plentiful—at the very period when it would be necessary to continue the restriction—Mr. Gladstone re duced the deposit to 5 per cent. When, however, during the summer, speculation rose to a great height again, the 10 per cent. was forced to be re-introduced. Mr. T. S. DUNCONIBE said that he thought that Govern ment was not most to blame with reference to this question. He did not think the Government responsible for the specula tion in August last, and before he sat down he should be able to prove that the mania was produced by persons not connected 'with her Majesty's Government; but he wished he could say that, they were equally unconnected with the Houses of Par liament.—( Laughter.) All the blame should attach itself to Parliament for not coming forward sooner during the present session to tell the nation what was to be done. At Christmas last all the world was asking what would Parliament do with the Bills that were far their consideration ? They had now been sitting three months, and were floundering as to what they should be about. He had just produced a plan for ascer taining the opinions of the present scripholders of companies. The Right lien. Baronet, in his statement that evening .said, that circumstances had changed since the introduction of theso projects, but the Right Hon. Baronet must know very little ' on the subject if he supposed that the parties now holding scrip were the original parties who embarked in November last. He knew it was a fact—and it did look suspicious —that many of the 'Original parties were members of the Stock Ex. change ; and he felt that the House was not going far enough. The Right Hon. Baronet read a letter to the House, which he stated had shocked him terribly. ,An Hon. Member had remarked that it showed the innocence of the- Right Hon. Baronet in being shocked at that letter. The document was in reference to the practice of rigging the mar ket, and that. system was known to every man, woman, and child last Christmas. If the Government was so shocked by that letter, what were they about to do? Were they going to semi them to the Committees up stairs? Were Hon. Members to wade through all this filth an d di r t d escr ib e d b y th e Ri g ht Hon. Beronet? He (Mr. Duncombe) should propose some resolution to the 'House, which' would push this ques tion.; to . the •tbottom. .s4t would decide 'what requi sites theese companies must have, and the. &mei, fide sincerity orihese enterprises. No person could object to the resolutions he was about to propose if their project was bond fide—if it was-for the public good, and not for speculative pur poses. He should propose a preliminary inquiry on the part of the Committee to which it might be sent, according to this resolution. That Committee, before going into the merits of the Bill, should institute an inquiry as to how, and by whom, the enterprise had been got up. No company that was a real and well got up project could object to it, while all bubble schemes would dissolve into air. He had been told that even ing that the companies did not care one straw for the resolutions proposed to the House, and that the only resolutions they were afraid of were the resolutions he was about to propose. What he should propose was, that it be an instruction to the Committees on each Private Bill, before proceeding to the merits of such Bill, to have produced before them a copy of the registration and the names of the promoters, as registered. Under the regulation as it formerly stood, any man might register a company by himself for a small sum, and that was actually done in October last. The House would find that one-half of these things were registered by some surveyor or solicitor. He should also wish that inquiries were made as to the directors, solicitors, &c., for no gentleman could - object to have his name brought before the Committee. He should also propose the amount of capital, the number of shares, the names and residences and subscriptions of the original allottees. They should also know the amount of shares re tained by provisional committee men—(Hear, hear)—and no person could, as an honest man, object to that. He held in his hand a provisional committee advertisement of November last. An advertisement of such a length ought to command all the influence of the whole country —every sort of name should be there—Honourables, Right Honourable,. It was an advertise ment of the Direct Manchester, and Northern Railway. He had been looking for the Bill amongst the Committees, but could not find it. There were no less than 172 provisional com mittee-men on it, and he should like to see how many shares they had received, and how many they had paid upon. It would be very unsatisfactory to know that out of the 172 gentlemen not 200 shares had been taken in all. There were F.R.S., law, physic, and divinity, held nut as decoys to the public. He was curious to know how much had been paid on shares, and still more curious to know what had been received by Hon. Members to allow their names to be inserted as provisional committee-men. He had received several, and he held the prospectus of one in his hand. A letter accompanied it, pro mising to bear him harmless from all liabilities. He would ask the Solicitor-General whether that was a good guarantee? -(Laughter.) The public considered, when they saw these provisional committe-men published to the world, that they participated in the expense and the project. Us held in hand another list, in which he found the names of 102 clergymen. What would be the' consequence if the pa rishioners of those gentlemen should see their names on 'that provisional committee? There were Deacons, Arch- Deacons, Right Reverends, Reverends, and Vicars giVing. their spiritual sanction to the project. Loud laughter.) Under 'such circumstances bow could the peblic and their parishioners be blamed for joining the project? It was right that they should know the number of the shares retained by the provisional committees, and the amount 'paid up on them. Also the number of shares now held. That was one object which - he sought to obtain. When the shareholders now sought for information respecting the funds of the Com pany, or the mode of application, it was almost imposSible to obtain it ; but, by the resolutiOns he wai about to submit, they would be obliged to furnish to the Com mittees who sat on their Bills all these important particulars. The resolution he proposed on this point he was persuaded would operate in a most beneficial manner. The locking up of fifteen milliona of capital, with no guarantee whatever that the schemes proposed were not bubble speculations, was a most improper state of things. And what was the process by which these railway companies sought to get up the amouttt of deposit necessary for compliance with the standing orders? One or two other directors made application to some banker for assistance, and if he was satisfied that the liabilities if the company did not exceed the deposits paid, then he ad vanced the balance to complete the sum requisite for the stand ing orders, and the amount was placed in the hands of the Ac countant-General. If the Bill was rejected, the sum so ad vanced was immediately paid back to the party who advanced it ; if the Bill was carried, the same was done; while the shareholder, who had been led to believe that a sufficient deposit had been paid up to meet the standing orders, found out the mistake by the calls that were immediately made to make up the deficiency. The greatest and merest bubble might go before Parliament under this mode of raising the 10 per cent. deposits, in order to comply with the standing orders of the House of Lords. Another resolution he meant to propose called upon the projectors of those companies who went before Committees of that House to give an explanation, not only of the amount of deposit paid up, but also of the source from whence they intended to raise the 5 per cent. additional to meet the House of Lords. He hoped these resolutions, which he would hereafter submit, would meet the support of the Heine, and that they would be acceded to, in addition to those proposed by her Majesty's Government. If they were passed it would save a great amount of trouble, and do much to relieve the evils that at present existed.—(Hear, hear.) They would not do right unless they probed to the bottom all these expenses, and it was a course of proceeding to which he thought no honest man could object.— (Hear, hear.) The Hon. Member concluded by reading the following resolutions : ‘. That it be an instruction to the Committee on every beforei losteß ilr,originated in this House, relating to any railway, proceeding with the merits of such Bill, to require to be produced before them, and verified by the promoters. " 1. A copy of the original return made for the purposes of provisional registration with the names of the promoters as then registered. ‘, 2. The names, residences, and descriptions of the present and past provisional directors, treasurers, solicitors, secretary, and other officer, if any. " 3. The present and proposed amount of the capital of the company. " 4. The number of shares, and the amount of each share. " 5. The number of shares actually allotted, with the names, residences, and descriptio ns o f t h e or i g i nal allottees, and the number of shares allotted to each. " 6. The amount of subscriptions paid up by such original allot tees. " 7. The amount of shares retained by or for the provisional committee. "8. The amount of subscriptions actually paid up by such provisional committee upon the shares originally allotted to them. "9. The original subscribers' agreement, signed by the allottees. " 10, A statement of the amount of money in hand, toge ther with an abstract of all receipts and expenditure up to the presentation of the petition for the Bill. " 11. A statement of the source whence the Parliamentary deposit was paid, or whether a declaration was made of a surplus revenue instead of a deposit. ' " And that the Committee report specially on each of :the foregoing particulars." Mr. MONCKTON MILNES said that he had remarked on •a former occasion that many of the railway companies proposed would not admit of examination. Although the in quiries sought by the Hon. Member for Finsbury (Mr. Dun combe) might be very amusing, and the mysteries of Capel court might serve the " Mysteries of Paris," still he did not think they were necessary for any practical purpose.—( Hear, ,bear.) The Hon. Gentleman had omitted the interest of the public in the matter. They had got before thorn a greater amount of railway business than they would ever have again, and he should regret their carrying any resolutions that would deprive the measure sbefore the House being as fully and largely considered as possible. If, submitted to the probing and free investigation of the Houie, be was persuaded that the best lines would be carried into effect.' He did trust no resolution of the House would be agreed to that would prevent, the present schemes from being investigated before Committees of the House. Mr. DISRA ELI said he could not but believe the discus sion in which they were engaged was one of considerable im 'portance. He thought the resolutions of the Hon. Member for Finsbury contained a great deal of good sense, and while he considered so, he was not opposed to the resolutions pro posed by her Majesty's Government. Still, he could not but think they should have been proposed at an earlier period. Why at so late a time offer such considerations, whether from the Oppoaition or the Government ?—( Hear, hear.) All ac knowledge the mischief done; and all are now ready to propose , a remedy.—( Hear, hear.) One thing was certain, all parties, however unequal to the occasion, admited that something was required; and he could not conceive that Government, however anxious to free industry, or facilitate the application - of capital. had acted as well as a neighbouring country, who had not the character either in the amount of its capital, or the character: of its labour, that this country had. He might name France, for instance, where complaints had been made of the great dela- which had taken place in the granting of railway projects, though he believed no complaint was now made. And while no complaint was made of the tardieess of France, there was great complaint respecting the swiftness of interference in England. In France, be admitted, they were benefited in this respect by the Government, but in England they were not so benefited.—(Hear, hear.) The Government were now seeking to interfere'with capital and labour. In fact, to carry out the principle of protection; while on other questions they professed themselves against all such inteference with the ap plication of capital or the employment of labour. —( Hear, hear.) Every Member in that House, unless he is a:bolder of railway shares, feels the necessity of protection here; Her elsjestees Government on this question, however, seemed to have no settled opinion. In two years, they had twice changed the qualification on Railway Bills, showing that they enter tained no definite opinion as to the course which should be taken. He quite agreed with the Hon. Member for Finsbury in the expression of opinion which he had made, and which was generally entertained in the country, that the deposit cf 51, per cent., or double that amount, in compliance with the standing orders, was equally inefficacious. How little had the Government done to meet this state of things, having com menced in wavering and uncertainty, and having twice changed the qualification. The qualification made eighteen months ago was changed to what was considered one snore stringent, and now they sought to revert back to the former. This proved that the Government was totally inefficient, and was c hargable with the loss and ruin which had occurred.—( Hear, hear. ) His Noble Friend (Lord G. Bentinek) had referred to the circumstances of the Right Hon. Baronet raising the first sod of the Trent Valley Railway. That took place only in last October, at the very time that the railway mania was at its height.—(Loud cries of " Hear, hear.") What Minister whichgreat F h i i n s a H n Finance his .Ie F I i r n i i e s n te d r t w he a s s t e h c e re p t a . r r ty o f w t h h o e di d did so ? Th e Chi ef Minister of the Crown himself—a d t e h s e c r t i i b m e d e as the h e i g h t of the railway mania. y In doingTreasury so at so, that the Right Hon. Baronet, in investin g himself with the railway paraphernalia, and giving effect to made his appearance, gave an impetus to speculatio n could deny. H e ( M r. Disraeli) had it in his on no t one evidence of th e e ff ect of that performance, as he power ad pa P oersteine his possessi on Whi c h , as he had not intended to allude to the subject that night, he had not brought. with him. The Honourable Member for Finsbury may have seen the same results of the Trent Valley performance. He (Mr. Disraeli) had in his possession railway pro spectuses containing extracts from the speech of the Prime Minisier delivered on that occasion.—( Hear, hear. ) At the height of the mania they had thus the First Minister of the Crown giving an impetus—an unnatural impetus to the rail way speculations.—( Hear, hear.) He remembered words spoken by the Right Hon. Baronet—he would not quote Han sard, for that was not admissible now, but his memory would serve him—in which he said, that the people of.Manehestee or Liverpool would not submit to be carried round ten or twe . l4e miles about by ex i s ti ng li nes, b ut that they would have direct ones. This was in March, 1845, and in October, 1845, they found the Right Hon. Baronet raising the first sod of the Trent. Valley Railway.—( Hear, hear.) lie could not acquit the Right Hon. Baronet of fostering and encouraging the railway mania; neitherthe House nor the country could do so.—(Hear, hear.) They (the proteetionists) were never allowed to refer to the prosperity of the country as arising from good harvests; the Ministers took credit to themselves far the fact. WhO so ready as the First Lord of the Treasury or the Secretary for the Home Department to take credit for the diminution of distress and national adversity? But while he (Mr. Disraeli) was ready to give the Government credit for all they had done, they did at the same time suppose that the harvests had' something to do with that prosperity ; - and that when money was plentiful and the country flourishing it was not necessary to refer it all to a Ministry. The present appears to be the catastrophe of a great bubble.—( Great cheers.) Although they had greater experience -than any country in Europe; although their moral tone ,would stand a favourable comparison with any other na tion, it was their degrading fate periodically to manifest an inordinate desire for wealth, flying with that object into any mad speculation, however much it might produce national, in jury, entail private ruin, and lead to public disgrace.—(Loud cries of " Hear, hear.") It was the duty of the Government to guard the tone of the public mind, and to watch and direct the public fortunes.—(Hear, hear.) But the system which had hitherto gained such favour, that of leaving everything to take care of itself, to follow its own course, whatever might be the effect on the condition of the people or the interests of the country—this system was the fashionable system of political economy, which, however lauded, in his opinion led only to ruin and degradation.—(Hear, hear.) However, after what had been said on other questions in reference to this principle, he asked them how they could, in agreement with it, come forward and ask for that interfer ence with the investment and application of capital and labour which the adoption of the resolutions implied? Why depart from that course which had been so much lauded in re'erence to other questions? So long as the people were employed—so long as they were employed by these railways—by the Trent Valley railway and others of its class—so long as the people were so employed, the Ministry expected that they would sym pathise with the philanthropic Government.—( Cheers.) But now the thing was found out ! The senators were discovered to be stags—(Laughter and cheers)—and the people were looking up the losses they had sacrificed at the shrine of philosophy. They were beginning to find out that it was all humbug.—( Laughter.) They were now discovering that after all they must fall back on the old system. —( Cheers.) elonourable Members had often charged the party with which he was connected with unnecessarily delay ing the business of the country.—(Cheers.) Honourable Members then seemed to forget the saying of one of the greatest men of modern times—the saying of Frederick the Great, " That he who gained time, gained everything." They had opposed the measures of the Government, because they did not consider that they were advantageous to the country. They had opposed the Right Hon. Baronet's measures—he who cut the first sod of the Trent Valley Railway.—(Cheers and laughter.) They opposed a minister who knew that he had a great opportunity of doing his country good, and who neglected it. But now they had to discuss this question in sober sadness—(Hear)—and when they calculated what the resources of the country were, when they contemplated its in creasing population. and the inadequate means of employment provided for them, the Govertiment ought to be forced to look to its essential resources; to 'legislate on comprehensive and practical principles, instead of visionary theories, which had in too many instances assimilated to the practice of the com panies under their consideration. Mr. WARD explained. Mr. BRIGHT wished to trouble the Home with one ortwo . observations, after the retnarks which has been made by the Hon. Member for Shrewsbury. He had, in the whole of his speech, endeaeenred to show that the GovernMent were incon sistent in bringing in these . resolutions, and in their general policy with' regard to this subject. But he ( Mr. Bright) san sidered that the arguments of the Hon. Member were altoge ther founded upon error. If he understood the resolutions aright, they were not proposed for the purpose of interferirg with vested capital, but to' enable parties to withdraw from 'proceedings which would be unprofitable to themselves and disastrous to the country.—( Hear, hear.) The Noble Lord and the Hon.' Member who had last spoken had, he thought, adopted an ingenious course—more particularly ingenious as they were each recognised as the head of a great and patriotic party.—(Cheers.) They used to be loud in praises of the Ministry, and it was only litely that they had withdrawn their support. It was only' since Ministers had brought in their - measure for the abolition of the corn-laws that they had found out that they were unworthy of confidence.—(Cries of " Hear, hear.") Now, he believed that the real cause of the speculation in railways was that they had had many years of depression, which bad been followed by years of prosperity, and they were adopting the old adage of making hay - while the sun shone. They wished to make in one year the'profits that ought to have extended over three. He had every confidence that this measure would produce a steadiness in the money market to which they bad for some time been un • accustomed. He believed that these fluctuations were bad, and the Government had therefore reason to endeavour to put an end to them. If he (Mr. Bright) recollected aright, when he first came to that 'House, 'the Noble Lord, the Member for Lynn, only sat in his seat for the purpose of observing the progress of a Bill introduced to defend certain parties who were engaged in a mad speculation, dangerous in the extreme, and contrary to the letter of the law.—(Cheers, and a laugh.) He considered, therefore, that the Noble Lord was not the man to set himself up as an authority on any matter connected with speculation er gambling. The SPEAKER then read the resolutions proposed by Sir R. Peel, which were agreed to. Mr. T. DUNCOMBE then moved the resolutions which will be found in his speech. On the 10th resolution being read, Sir G. CLERK said he did not see how the amount of the liabilities of companies could be ascertained. Mr. DUNCOMBE said he would be sorry to admit any unjust details in any statement of the affairs of a company; all he required was that there should be laid before the Committee an estimate, stating the amount of money in hand, and the liabilities of the company, which every company ought to be aware of. Suppose the case of a shareholder; before he will enter into an engagement, he w ill na t ura lly sa y t o the commit tee of management, what money have you in band ? Why, we • have so much, will be the answer. Well, then, his next ques tion would be, what are the liabilities of the company ? Surely the committee should be able to give some estimate of their amount, and be able to say what persons were those who had claims upon them. Mr. HODGSON said he should vote against the resolution, as he was quite positive that the company would be utterly un able to give anything like an accurate estimate, and an inac curate might lead to more evils than none at all. Mr. HUDSON said that, from his experience, he could state that it would be impossible for any company to give an estimate of their liabilities ; nor did he think such an estimate would tend to any useful purpose. How could it be.possitee to tell the amount of a solicitor's or engineer's bill ? The only thing which could be given would be the amount of money paid and actually received.--( Hear.) Mr. DUNCOMBE said he would adopt the suggestion of the lion. Member, and alter the resolution to a statement of the money in hand, and a statement of the liabilities incurred. Mr. W. R. COLLETT observed that expenses were two fold those incurred, and those prospective; and an adjourn ment of the case might increase the latter most materially. , Colonel SIBTHORP said he would enter his pretest against the Government doing that at the eleventh hour which they should have done at the first. After a few words from Sir G. CLERK, Mr. W. R. COLLETT said that he considered the resolu tion was most inquisitorial ; and after the many sufferings which provisional committee-men had already experienced, he thought it somewhat unjust.—( Hear, hear.) He did not. know what the public could have to do with either the names or the amount subscribed by the provisional committee-men, and as many of them had come forwarded, in the hope of benefiting not themselves, but the towns, cities, villages or counties with which they were connected, it was too bad to bold them up now to the world as parties unworthy of the confidence of their fellow men. The lion. Member :for Finsbury, he had no doubt whatever, was actuated by none -other but honest motives, but he put it to the Hon. Gentleman whether, after th severe suffering: provisional committee-men had eneountererl, it was fair to publish their names in the man ner t roposed by this resolution.—( Hear, hear. ) The CHANCELLOR of the EXCHEQUER apprehended that the Hon. Member for Finsbury did not require rhe names, but only the amounts subscribed collectively by the provisional cow mittee. Mr. DUNCOMBE said that was all he wanted. The resolution was then a g reed to, as w a s a l so N o . 9. On No. 10 being proposed. Mr. WARBURTON was understood to object to the words "and of the liabilities" on the ground that it was not right to ask old established companies to disclose their liabilities. After a short discussion the objectionable words were struck out, and the resolution, as amended, agreed to. On No. 10 being proposed, • Mr. WARBURTON sa id this resolution in its present form would not apply to the Bills promoted by established companies, that they for they p a id n o deposits at all, but merely certified had • t funds in hand to enable them to carry out the su scien proposed undertaking. Mr. HUDSON said the Hon. Gentleman was quite right. were seeking for powers to construct w or k s i n Many companies accordance with the provisions of their existing Act of Parlia.;' merit, defraying the expense of them uut of their surplu capital. Mr. RICARDO remarked that there were many companies not in_so fortunate a position as to have surplus capital, and in such a cast. as that it would ho desirable to know how the funds were raised. Sir R. PEEL said the resolution simply called for the source whence the deposits were obtained, and he thought the objections urgeditzainst it would be removed by omitting the restrictive worTs,narnef:r, " wheth,r out of the depdsits or by loans." Mr. BROTHER TON thought the existing companies - had an undue advantage • oner the new companies ; for while the latter. where required to deposit ten per cent., the former only furnished a 'certificate signed by the secretary, to the effect that they had sufficient funds to carry"out the project. Mr. T. DUNCOMBE said be had no objection to omit the words suggeited by the Right Hon. Baronet. - • The resolution was agreed to a s amended. -Mr. W. COLLETT-, haring in a few obs , ervationt,- which were indistinctly heard in the reporters' gallery, condemned the inqubiitorial character of the course proposed by the Govern ment, The - twelfth resolution was put and agreed to. NOTICES OF MOTION —FEES OF COURTS OF LAW. Mr. THORNLEY gave notice that he should, on Thurs day, the 7th May, move for copies of the fees paid in the courts of law and equity. POLISH INSURREC I lON. Mr. C. BULLER had heard that the Austrian Government had issued a proclamation offering a reward to the peasants if they would bring in, dead or alive, the several Polish gentle men who had become obnoxious to the Government. He wished to ask the Right Hon. Baronet if it was true that the Austrian Government had addressed any note to the British, or any other European Court, denying this statement ; and if there had been any such note FO a !dressed, whether therewould be any objec ion to lay the same upon the table of the House? Sir ROBERT PEEL said that the Austrian Government had made no intimation whatever upon the subject to the British Court. He was not aware that the Austrian Govern ment had made any communication to any other European Court—certainly not to this. He had seen a statement which was not made, containing a peremptory contradiction of the statement. REDUCTION OF THE DUTY ON TEA. Mr. AIILN ER GIBSON presented a petition, signed by a great number of the inhabitants of Manchester, praying for a reduction of the duty on tea. Lord SANDON presented a petition, numerously signed, from Liverpool, to the same effect. The Noble Lord then nos p Fhhon r itor o usi c , t e d e L d o e r d d to move the T Treasury s c u o r p y i e a s n o d f the th e President memorials o f the received ß a b r y d t the Trade, r c. r a e i, s p ea ds e t n in p g r o a p r o ed r desirabletui proporton ion with n other the duty r d auattrtyttinoatuf of. be called to the enormous duty at present payable tea. The increase in the consumption of.that article had The increase had only been I - 96 00 1 of the H e consumption. thought ro us e ss , 0 bs. during the last five years. That articl e w as than had been paid for the presenta subject to a 'higher duty the tea trade was in the hanctsst o ;.h t i L ty or forty years. When ad vdorem duty of 100 per cent. wa s imposed East i lndia os ed C o mhp thatan monopoly was .dope . away, a fixed duty Zs applied, ve which ranged from 150 to 200 per cent. If the trade was at present in the hands of the East India Company, the duty, instead of being 2s. 24d., would not be more than 10d. or Is. The imposition of that high 'duty prevented the people of this country from enjoying an article which all the friends of tem perance and sobriety would wish to see extensively used. The trade with China was carried on almost exclusively by barter. This country must therefore take the goods of China in return for manufactures exported to that country. It ' was impossible, with the present amount' of duty, to increase the exports of this country to any great extent. It was impossible to increase the consumption of tea by' any other course than by a reduction of the duty. The duty at present formed two-thirds of the whole price paid by the con sumer. Iu the United States there was no duty.. In Holland the duty ranged from lid. to 4d. Even in oureolonies the duty was moderate. In Australia the duty was ten per cent., in Newfoundland it was Is. 3d. per pound, and in Guernsey it was nothing. In Australia the price tome consumer wasirom Is. 3d. to Is. 6d. per_ pound, but the best result for him to mention was the amount consumed. In Australia the amount was 12 lbs. per head, while in England it was only 1 1-3 lbs. 'perlead. In Newfoundland it. was 4 lbs. per head, and in Guernsey it was about the same. He thought they might with safety try an experiment in a reduction of the duty on tea. It must be recollected that. any increase in the consump tion of tea would cause a large increase the consumption of sugar. For every pound of tea consumed five pounds of sugar were usd. He tr us t e d, th ere f ore , t h at t hi s su bj ect would be duly'considered by the Government ; and he con cluded by moving for copies of all memorials addressed to the First Lord of the Treasury and the Presiden` of the Board of Trade,. praying for a reduction in the duty on tea. subj Mr. MOFFATT rose to second the motion. • This was a ect of vast importance as affecting our commerce with the East. The great complaint of the Chinese was that so much of their specie was sent to this country. The exports from Great Britain to China in 1844 amounted to 8,871,0004 while the imports were on l y 4,379,0004 We also imported 3,400,0001. in specie from China in that time. The Hon. Gentleman went into a variety of details, for the purpose of showing that by the reduction made in coffee and sugar the revenue in creased, while the public derived the advantage of having those commodities at a considerably reduced price. He saw no rea son, therefore, why tea should not be dealt with in a similar manner, as he felt quite assured that an immensely increased consumption must be the result, while, at the same time, the revenue would sustain no diminution.—( Hear. ) All our large exports of woollen goods:to China - brought no benefit to the trade of that country ; consequently the importa tion of that article was now very much reduced. We charged from one hundred to three hundred per cent. on ihe importa tions from China, and our exportations to that country were only charged at three per cent. The rates of duty on French goods were reduced, and why were not the duties on the im portations from China, reduced in equal ratio ? This he con sidered was the policy which ought to be adopted. The CHANCELLOR of the EXCHEQUER said, in answer. to the lion. Member, he was willing, on the part of the ---- Government, to say that - the -- House - should have every information laid before it in regard of the trade with China. The Hon. Member had said, that the duties on French goods had been reduced, and that, consequently, the duties on' our importations from China should also be reduced. It was true, that all our importation of tea came from China, as a matter of necessity, but that did not Make out a case for re ducing the duty npon that article of consumption. But he did think it was rather unfortunate for the view of the Hon. Member, that, some short time - ago, he (the Chancellor of the Exchequer) had received a deputation, who declared, that if the duty on the exports from China Were not reduced, they could not carry on their trade. He had had many opportunities during the present s ess i on of discus s i ng many of the points in reference to this subject, and therefore : he should say that he hoped the matter would tie more fully discussed; and wbenhe.cameto lay upon the table a memorial he had received upon the subject, he believed it would be better understood. Mr. J. A. SMITH should trouble the House with a few observations upon this subject, which heloOkej upon as one of the most important that could be brought. under its consi deration. He did not consider that the statement made by • the Right Honourable Gentleman opposite, was at alt inconsistent with that of his Llononrible Friend near him. He assured Hon. Members that there need be, and was, no limit to our trade with China, but unless some change took place the trade could not increase but decrease. He had no wish. to detain the House after the long and tedious debate, and he would conclude by recommending a total change of commercial policy in the trade with China. Mr. ENTWISLE regretted that an article so generally consumed in England should be so much restricted by heavy duties which were so contrived that the heaviest duty fell on the lowest priced teas. There could be no limit to the advantage that could be derived by the establishment of a trade with China, Fo as to give them a larger proportion of our manu factured goods in exchange for their produce. There ought to be some better system of reciprocity than that which existed at present, and therefore he supported the motion. Mr. WYSE said that the diminution of the duty on coffee had led to a considerable increase in consumption, and the same result, no doubt, would follow it the duty on tea was reduced. The motion was then agreed to. PROTECTION AND RELIEF OF EJECTED TENANTS IN IRELAND. Mr. S. CRAWFORD obtained leave to bring in a Bill for the protection and relief of ejected tenants in Ireland. COAL WHIPPERS (LONDON) BILL. This Bill was read a third time and passed. FRIENDLY SOCIETIES (SALARIES AND EX PENSES) BILL. This Bill passed through Committee. • The other orders of the day were then disposed of, and the House adjourned at a Quarter to One o'clock. PARLIAMENTARY BUSINESS. 'From the Votes and Proceedings of the House of Commons. _ • ' - THURSDAY, A PRIL 2S. The following Railway Bill was withdrawn: — Great Southern and Western Extension (Carlow to Kilkenny). O Ap F izI R L A 2 I 7 L . WAY BILLS, SECONDndClyde Scottish Central and Caledonian Junction. READINGS Oldham, lianehester, Liverpool, and Birkenhead Junction. Junction. Portbury Pier and Railway. Sheffield, Ashton-under-Lyne, and:Manchester (Whaley Bridge Forth Hayfisld Branches). Ipswich and)Bury St. Edmund' s (E xtension, to Ely, with a Branch therefrom London and Birmingham (Weedon and Northampton). West Cornwall. Oxford, Worcester, and Wolverhamptcn. Wilts, Somerset, and Weymouth. South Devon (No. 2 —Amendment and Branches). Midland (Clay Cross to Newark). REPORT FROM THE SELMT COMMITTEE ON GROUP (No. 20) OF EAILWAY MITCHAM AN]) SOUTH-WESTERN BILL. Mr. Sotheron reported f;•om the Select committee en Group (No. 2)) of Railway Bills, to whom several petitions against the Bills comprised in the said gre,up were referred, That in the case of the Mitcham and Seuth-Western Railway Bill they had heard counsel in support of several of the said petitions, and had also heard counsel in favour of the Bill, an'.l that they had examined into the allegations contained in the Preamble of the 11111, but that the same had not been proved to their satisfaction. REPORT FROM THE SELECT COMMITTEE ON GROUP (No. 19) OF RAILWAYS. EXETER, TOPSHA3f, AND EXMOUTH BILL. Lord Harry Vane reported from the Select Committee on Group (No. 19) of Railway Bills, to whom several petitions :against the Bills Oomprised in the said group were referred, That in the case of the Exeter, Topsham, and Exmouth Railway 'l3lll they had heard counsel in support of several of the said petitions, and had also heard counsel in favour of the Bill, and that they had examined into the allegations contained in the Preamble of the Bill, but the same had not been proved to their satisfaction. STANDING ORDERS' COMMITTEES. HOUSE OF LORDS. ' , hips met this day, for the first time sinca ttie Easter The Ceurmittee, in con -- -- oiocion, came to the determination of all the Railway Bills whteh came before them 00 second one-. to Monday next. Among:it the Wills so adjourned were de following : Londonderry and Enniskillen Extension Railway— Waterford, Wexford, Wicklow, i.nd Dublin ./tailway—Dablin an; , I 'stct lion Railway— Cionmill and Thutles Junction Railway—Groat :Intithr the Tspatcb of public basineim f Lord Li:at:rick, Ennis, And Kil!aloe .12/tr.-- anti We ern (Ireland) —Cori: Extenqion— Railway— liillariwy Junction tion Railway—Larne, Beitast, and Ballymena 1 111:11 , 1 and Ballymoney . and llostrevor Railway D ur ,_ Veltlaa Janetioa Railway Bill. The San,lerland Waterworkg \v.- &re, and aho the Sawicki,. , —M n 'ern - toy Juue •li renpolut. rnal.;ll, anu (las 1 the Standlng Or- . . MORTALITY OF, THE: l'., t ryriorous.--Tho. total number -of deaths registered in the metropolis during the week ending April 18, 1846, is 967 ; of these 30 are. deaths from violence. The number of deaths (exec - pt from violence) during the week, amount therefore to 939, showinz an-increase on the w e bk. preceding -of 1 07 —the - mitnber of deaThs from disease in the week ending 11th Aprii, having been 7 2 ; A great of the increase has taken place iu the reSpiratory organS; in the last w e l e e t ti :i s iey fro a m mounted to 318, irk the week preceding, to 270 only. ' Tli - e Bishop of Carlisle and the Chairmanof theE y x es c t i e s r e d h a a y d . interviews with the Chancellor of the Exchequer Mr. Denison, M.P., interview , ith the Earl of Dal haclice of the Board of Trade. lionsie yesterday at the °