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

the men ache had selil hie -thews. wee) wrerld reeeive one antra jeeted. NP wee en-e v sn e se te e t he himself had ' Now hr w wood the case? A man was allotted 100 shares in of the profit, noteethstanuing he had g Lid the deed isen a qtedndly, particularly in new lines. In one 1 cne of th ese new companies, upon which he paid a deposit of of the company.—( Hear.) B * p art i ng s s i s .it e e his. scrip ei . line with which he was con nec t e d h e t oo k a particular in t eres t, 1 2 1. per share on 2001., and afterwards sold them at a premium he had forfeited all interest in the undertaking. : and a number of shares, bec a u se h e b e li eve d i t wou ld b e remu - for 700/. Now he was informed, at lea s t he gather e d from He agreed with an Hon. Member, who had spoken this even- i nerative, but the ve r y rev erse h a d b een the result. He had the newspapers, that in the event of the Government Bill not inn., that it would not be safe at the present moment to go jno objection, and hehclieved that none was to be found, in these passinf , the purchaser of the scrip would be at liberty to bring further than to apply the reso l u ti o ns propose d by hi s W ow , resolutions. His impression, indeed, was that one-third of the an act: ,on to recover back the premium he had paid, and how, Friend to the Bills now before Parliament. shareholders wou ld pl e d ge t h emse l ves to move for no aneration, let hi t .n as k, wou ld thi s o p erate ? Wh y, w h en ca ll e d together Mr. w s e iwt ewe HERE s aid the object of the resolutions was and that that measure would give them general satisfaction ; , undew these resolutions the scriphold ers wou ld sa y t o them twofold. w First, to pa a Bill to regulate and amend the Bills arid this imp ress i on m i g h t not b e t h e less from th e cireum- l selves. "If we sanction the breakin g u p o f thi s company we under which railway Companies we e constituted, an d h e stances that the success of several of .he s c hemes had laid ! shall abandon our right to receive the premiums we paid on which they were csrriee on ; an d, secon dly, to s e ems , doer a rule of the experses which dew ought to bear. Yet, i owe shares." general question of railway speculation , to ,at the sane ti me , it mus t b e reco ll ecte d t h at t h e compan i es as 1 Th e SOLICITOR-GENER AL said it was quite clear that thee iich he should shortly devote his attention. ' they now stool were unable to divest themselves of the ex- I that the purchaser of scrip never could recover back the price Ile heartily rejoiced that her ntajesty's Government h a d t urne d pens, sto which they wire subjected. They could not divest I he_ had_ r J i a s id ß t o o R th N e F original allottee. was glad he had called attention to this e heir awe ,lion to a subject of such paramount importance. themselves of the exi.emes of the inquiry, of the employment . M Any one aho had the p tid slightest attenth nto what had been of counsel, and os all th e ot h er i nc id en t s w hi c h werdefnerc,7e- mindpolnt.for the would have the effect of appeasing the public to I Lord SANDON had but a few observations to make upon on subject. going on during the period of undue speculation must have nary to take the means for carrying out the pr w oj e e r c e t, ae a e n essary seen that the attention of the Government should be directed, . institution of such further experiments as and the itwerventien of the Legislature asked, to put an end confirm the va lidity o f t h e pro j ec t. Th en as t o t h e thi r d the cubject of these resolutions He confessed he had received ear, hear.) The prin t* discriminate were iii intended e sandoeudl b dt e af t e w eh to a s t a t e of things which were extremely prejudici a l ; resolution, he felt. it necessary to ,ask its , meaning, i t he m with most . hearty satisfaction, , an d s h ould give -to individuals, and net creditable to the cern_ I His impression was, that those who were in possession of the . ' them, his cordial support.—(H in deciding upon anercial character of the country. There was only one i scrip ought to be considered the bond fide proprietors. It was ciple would be for the C omm i t t ee, the ss et rl fa i n pe d te er e di e l e e h c n i o m n point with reference to this subject to which he should venture necessary to ascertain this point, af • because he believed that I the various railw i ay h projecis, hedouble schemes now in pendentli to advert ; namely, what the Right Hon. Gentleman had nine-tenths of the proprietors stated with respect to reserved shares by directors of railways. existence were guise ready to . dissolve their companies since feetonep t al l i . l e es s a al n ie . a t d;cr e st w ab h lTs h hed. o e r nis e e thoughtm o stfairly proper for r r the th e them benefit ta he o a f a the rrie d c o i ti n n t ()- the commencement of h t e p i d c and he would gu p arantee his e ly me a s,R i h e i e eh rty in deciding unhesitatingly in favour of those He confessed he was rather surprised at. the innocence of the Right Honourable Baronet on the subject, because he h chemes of the last few years. He try. It Ho p u r s Hon. Friend, the Me t m e e s r e s :Taunton, that no attempt would scheme they would result in the public good, there thought the. prevalence of the practice was a matter be madefrtioeardetearataertial legislation, but he believed that for effect, and the that of notoriety, and, he might add, scandalous noto.- was the n n e o xt twenty years il such a lesson had been read as would would . be no difficulty in allowing these projects to be pro riety. This system of reserving shares on be a sufficient guard for the time to come. On these accounts seeded with. Theonly other point to which he should call the he was quite ready to assent to the words of the resolution, attention of the Ho . use was as to the inconvenience of fixing part of the persons who, from their station and influence, t h h . e: thought would have been incaeable of such a the proceeding — this Very harsh language had been used with regard to the conduct upon the period antecedent to the third reading as a time at practice, had been carried to a very great extent, and hart of the provisional committees and directors, but it was ad- which these resolutions should have effect. It had been stated milted on all hands that the late railway enterprise hal bee n by those who were sensible that their Bills were not likely to effect of completely deceiving the great body of the public i by most useful, and that it was desirable for the interests of this be carried out, that theywouldnot have sufficient —.those persons of small property who were inv h e a t t g in shoals into these railway projects. He repeated. t . country that that speculation should be carried on. The rail- time to canvass the feelings of their constituents, nor could way directors had, to the best of their power, endeavoured to they take upon themselves the responsibility of witholding reserving these shares, which the parties either allotted to scertain the best projects in which the money of them se l ves the further progress of the Bill. He would appeal to his themselves or their friends, they also frequently c h am m e off scot free themselves, and deceived those w . and o the public could he invested, and he could not conceive Rittht Hon. Friend, whether swedes were not at present coln they had induced to join them. He did not know whether it wa possible for the Legislature to check these ti mu w t lion.Alembers co u ld j u stl y cry t h em d own , a lth oug h h e pelted by the sessional order of the House to go into Corn evils, but if s the Government would, by the Bill c ertainly ,am admit that during the late railway mania there mittee within a limited period from the presentation of the had been exceptionable transactions. He could assure petition ?He thought that that sessional order should be they were about to introduce, remedy the abuses, he thought These . the Right ' Hon - . Baronet that he laboured under an error when amended in some degree, in order that the parties promoting they would be accomplishing a very great advantage. he conceived it to be his du. yto attack the practice of reserving Bills might be restrained from going into Committee. If the things, however, would be matter for discussion when the Bill came before them, and he shou l d confine the few observations shares. Th ere m i g h t h ave b een cases in which those shares course he had suggested was adopted, it would facilitate the he had o make to the present propesi ion of the were reserved f or th e purpose o f f rau d , b ut he could assure him contention of many parties connected with Bills, would re- Right Hon. Baronet. He had observed, with satisfaction, a that the number of applications in railway projects had been move a great difficulty, and would issue in reconciling, to desire, on the part of the House, to give a general support to so exceedingly large that it was found necessary by the direc- some extent, the conflicting interests of the railway public. the proposition; and, for himself, he was ready to say that he tors to reserve the sha res i n th e manner w hi c h t h ey had. Out Mr. WILLIAMS observed, that amongst the numerous con c urred in the conclusion which the Right Hon. Baro ne t of the 500,000 applicatio ns f or s h ares, h e was sure that the Bi lls before the House, there were several which contem had come to. He thougid the course recommended by the Right Hon. Baronet would, had he been engaged in these rail- plated the formation of long lines of railway, and which were Right Honourable Baronet was the best they p oss ibly way undertakings, h ave f oun d very great difficulty in allotting in posse s si on o f enormous capital. Weenie to understand the en could adopt under existin g c i rcumstance ,. —(Hear.) le, shares with sa f e ty t o t h e 40,000 that hail applied. The di. tire capital of these companies was to remain in the hands of the did not mean to say, however, that it was not open to rectors had experienced the greatest dif f iculty in the proper directors, to be disposed of at their will and caprice? The persons objection and inconvenience, but in the present stale of things exercise of their duties. He could assure the Right Hon. who had requested him to brine this question before th e ,it was impossibe to take a step which would not entail incon- Baronet that the greatest schemes had been used for the pur- House were of opinion, that the *lass of Bills which comprised veniences of a dangerous nat ore upon some pat ties. All the pose of deceiving the provisional committees. Forged names large undertakings might be dealt with in rather a more sum other suggestions he had heard spoken of were surrounded and false residences had been made use of in the applications mary manner than Bills of this description generally before the with more objections than the recommendation of the Right for the purpose of deceiving the directors. He was perfectly House. Now, it was no very simple thing to make an applica- Ron. Barone t ; an d on t h e w h o l e he thought it was the new in the affair himself, and he h a d no t th e l eas t d ou b t t h at a ti on f or a Bill i n the next session of Parliament. There were best they could adopt. He must say, however, that he could very great many errors had been committed in the allotment the details of the traffic to be gone into—the surveys must be not agree with th e op i n i on o f t h e R ig h t H onoura bl e of shares in the comp an y w ith w hi c h h e was connecte d , b ut h e comp l eted—the whole of the notices must be properly served, Baronet that thi s was th e l eg i t i mate an d prop e r t i me f or b r i ng - certainly did, in his ch arac t er o f c h a i rman o f th e prov i s i onal and time estimates mus t b e m i nute l y calculated and fixed on. ing this measu re f orwar d, f or h e reco l lecte d a speec h w hi c h directors, reserve at least one-t en th o f th e warns of th e com - And f ur th er , b y t h e standing orders of the House, an entirely Several Honour a bl e M em b ers o f th a t H ouse h a d f ound new su b scr i ption deed must be made out... With those corn the Right lion. B arone t hi mse lf ma d e at th e commencemen t Pante of the sessio n , w hi c h l e ft an i m p ress i on u p on hi s m i n d themselves involved i n thi s ra il way specu l at i on, f rom a d esire, pan i cs who were compelled to wind up their affairs, by giving that the Government considered th e su bj ec t, an d in common with p eo pl e out o f d oors, to pro fi t b y it.—( Hear, power to them to enable them to come before the House at had come to the conclusion that interference was hear, and laughter.) For his own part, he thought it was any future session of Parliament, much difficulty would be necessary even at that time. That was the im- highly creditable for men to be concerned as directors in a re- created in the operation of the law, and many subsequent al spectable railway u n d er t a ki ng. A n d o f t hi s h e was confident, tera'ions would be required. pression on his mind, and he believed it w a s thi s impression which the public generally had after readi ng th e that these projects had had the eff ec t o f f ur th er i ng th e prospe- Th e SOLI CITOR-GENERAL said that the object of the sewe d ' it s elf, but more particularly the speech made at the rity of the count) y• He had no doubt that the share- resoluti -ns was merely to enable the parties connected with same time by Lord Lincoln, and he thought it would have holders, in those companies that ought to be dissolved, railway companies to dissolve, which was a right that they at. been better had they tsken more decided steps then, would take the earliest opport unity of availing them- pr sent were not legally entitled to. But with respect to He thought that in questions of this kind it was the duty of the selves of the advantage held out to them by the giving them power as regarded any future application to Government to undertake the responsibility.—( Hear, hear.) resolutions of the Right Honourable Baronet, at le a st Parliament, that was a purpose not at all contemplated by the They ought not to wait until the public out of doers were in a to proceed with their original intentions. After what they Bill. complete ferment in consequence of the uncertainty of the law. had heard, and very truly heard, of railway speculations in th e Mr. WILLIAMS again urged that power had been taken —( Hear, hear.) And he therefore could not quite &Tree course of the summer, this proposition was only making an by the managing directors to take the control of the capital with the Right Hon. Gentleman, that he had been very appeal from Philip di unk to Philip sober, and giving them an into their own hands, and they had retained this immense - .felicitous in introducing his measure at this particular period. opportunity of recording their opinions. He felt that there amount of money to proceed with their Bills at any future However, as it had been proposed at last, he was prepared 'stare some objections of a smaller character, but they were session; and there were no legal means by which the share to give it his cordial support. There was one inconvenience doubtless considered by the framers of the Bill. He would holders could compel the managing directors to wind up. The which would probably result from this measure—he alluded to give his support to the proposition. directors had the power of adding to their number, and conse the new companies which h a d l a t e ly b een p ro j ec t e d as Mr. F. W. BARING, who was very indistinctly heard,in quently of increasing their influence. He had, therefore, rivals to the great independent rallweY companies already his epening rema r k s , sa id t h at not t h e slightest objection hoped that the Hen. and Learned Gentleman would take into in existence. Thi s measure wou ld most pro b a bl y h ave the could be urged to the proposition of the Right Hon. Bsrenet, his consideration the position of parties connected with projects effect of bringing these projects to an end, and the It was in reality an appeal to the promoters of these schemes— to be carried on to a future session. They were placed in a public would consequently be deprived of the interests it was wising them an Opportunity of reconsidering their eon- worse position than those who had Bills already before the which they must have received had those companies dition—it "airs asking them indeed whether they were prepared. House. succeeded as rivals to the already existing companies, He himself would gladly giv e his vot e f or the dissolution of The SOLICITOR -GENERAL observed that it was one of and he thought that the Government should have taken that the company of which he was chairman. He, like several the especial objects of the Bill to provide for that class of Point into their grave consideration. This, he confessed, ether railway directors, had been put to much expense and cases which had been alluded to by the Hon. Gentleman oppo• was a very wide subject, and he would not say whether trouble, fer which they expectsd no thanks. That was the site. That power would he given to a certain number of it was an evil or a goo d ; b ut h e wou ld say that it was the duty benefit connected with the se ra il way un d erta ki ngs. -- ( Hear.) sharehold ers i n th e un d erta ki ng, w hi ch would render it compnl of th e Gove r n ment , i n th ese matters, to protect the public Mr. B. DENISON confessed that he originally thought sory in them to wind up the affairs of the company.' interests. No d o ubt h er M a j esty ' s G overnment had taken the t h at some steps ought to have been taken to put an end to the Mr. COLLETT was much obliged to her Majesty's Soli advice of competent parties before they had ve .lured t o p ro p ose mad speculations which were convulsing the country, and eitor- General for having explained various points in the reso the present measure , and must be better informed which were withdrawing capital from their wholsome a n d lotions before the House. He considered that the directors than any Honourable Gentleman who might offer natural channels. It had the effect of locking up capit a l, of many of these schemes had been very ill-treated—they had leis suggestions across the table to the Members of the Govern-. which otherwise would have been freely circulated throughout been subjected to a deal of hard work, were exposed to misrepre extent. At the same time he would venture to make one the country; but, however, he tho u ght it was batt e r no w t o sentation and 'insinuations of various kinds, and yet they were or two suggestions upon this subject ; one of those interfere than not to interfere at all, and he certainly should bound by their position to retain the original amount of the suggestions was this—whether it wou ld not b e give his -hearty concurren ce t o th e p ropos iti on o f t h e Ri ght s h ares wh i ch they Lath. With resp ec t to th e t hi r d reading, he possible to propose as an alternative to the ecrieewriers. that Honourable Baronet. Some Honourable Gentlemen had corn- really thought, that before any progress was made in railway Whey should have the p ever of expressing their wishes and opt- ~lained that the contingent expenses attending the committal Bills, that some regulation should be adopted to prevent the mewls as to the desuablenewn or otherwise, of proceeding and second reading of the Bill would be still increased, but he further carrying on of those schemes before they arrived at while their hills by written communication, instead of for one could not see how they could be. Parties might avail that period. He would only say, with respect to the estimates being comp, lied t' attend at those meetings, themselves of the resolutions within ten days from the present of the construction of the lines, there was no increase what• It was not stated when the meeting of the scripholders was to time, and if they did not meet with . sufficient en- ever in the price of the materials. There was ouly a slight l a n ce p l ace , An Irish railway company might be summone d couragem en t th ey m i g h t a b andon the Bill alto- increase in the price of l a b our , an d a tr i fl i ng increase in the to meet in London. With regar d to the suggestion of eet h er. Th ere was ano th er point to which he wished to call cost of conveyance. He firmly believed that contracts could his Hon. Friend, the Member for Weymouth, to the attention of the Right Hon. Baronet, who, in the course of be performed at a lower rate during the present year, than postpone all railway business, to avoid s u bj ec ti ng his speech made an a ll us i on t o a recent statement made by Mr. they could have been done duringthe last year, the parties to any inconvenience or expen se , un t i l Brunel, as t o th e cos t o f ma ki ng ra il ways. The Hon. Member or any previous year. The Hon. Gentleman concluded by' this Bill should be passed, he doubted wheth er an y b ene fi- for Sund er l an d h a d answere d t h at statement, but had he not, expressing a hope, that the powers of the different companies c'sal object could be effected by such a course . Th e he should have f e lt it t o b e hi s d uty to state, that he had put might still be continued in the hands of the directors or the people would k now th e p ersons connecte d w i t h t h ese purpose of windin g u p th e underta ki ng. himself in com mun i ca ti on w i t h part i es who were in the habit companies, and would judge whether there was any of contracting for the construction of railways, who told him The SOLICITOR -GENERAL said it was the intention cf prospect of the shar e h o ld ers of t h e company p ers i st i ng that Sir. Brunel's statement was a most extravagant and in- the Bill to enable the shareholders to bring before the directors, :an desiring to pa ss th e Bill ; an d h e took it for granted that they cautious one. He Lelieved there was no doubt that a railway in as unanim ous a manner as possible, their wishes as to would in most cases avoid passing the Bill through unnecessary could be made at very little additional cost to what it whether the Bill should be proceeded with or not. He thought stages, if it was not their intention ultimately to proceed would have taken lately.—( Hear.) The Right Hen. Baronet, that, considering the importance of the question, there could with it. He would not trouble the House with any further ob- in the course of his speech, referred to a letter relating to the be no objection to relieve the directors of a portion of the nervations. He should only state that he heartily rejoiced that London and York Railway, and seemed to do so with a view responsibilities by throwing the onus on the shoulders of the her Majesty's Government had directed their attention to this of convincing the House that the directors of the company shareholders. inaportant subject ; and he thought that their proposed pro- were disposed to break up the company. Mr. O'CONNELL was grieved to confess that the Right .ceedings would give satisfaction to the country. Sir ROBERT PEEL—No, no. Hon. Baronet had made out a complete ease for this House. eWin HUDSON said that he fully agreed with he r M a _ Mr. 13ECKET T DENISON said he knew instances in What was the effect of these resolutions? They raised a numer esto Government in the time which they had ch o s en f or t hi' whi c h com p et i ng compan i es were buying up shares of the ous array of other question s , and would lead to no en d of corn . meant re, for the present ti me was almost the only one in w hi c h rival lin es , f or t h e purpose of obtaining a majority in the plieated litigation. He did not know a worse tribunal t o dig they could act effectually in this matter. He believed that if meetings proposed to be held under the provisions of the pros cuss a question of this nature than a House of Commons. t h e G ov ernment had brought forward this measure at an posed Act• it was in the case of the London and York Rail- They diminished a number of railway schemes, but th en ear li er period of the session, it would not have met way. The Eastern Counties Company, of which the Hon. the number of Bills was increased. They should hav e with the public support which it would meet w ith on thi s Member for Sheffield was one of the directors, were donee so something like a railway at home. They ought to have a rail occasion. The measure would be placed o n a soun d, so lid at the present moment; and he thought that was conduct way judge, and to him should be committed the care of these basis, for parties would seriously consider the position in which which one company should not pursue towards another. For matters. Let it not be considered that the appointment of they had placed themselves, and th e consequence was th a t b y eis own part he would not do so; he did not possess much in- such a tribunal would be extraordinary. They had separate the meetings that would take place under this measure 'crest in that railway—he held but twenty shares in it—he judges in different departments of law. There were ecclesi little trouble would be given to Parliament to decide o n th ese supported it upon public grounds, and with adesire to obtain astical judges, judges in the civil courts—and there were even cues. He did not deny that during a short time there had the best mode of communication between London and York ; registration judges—then why not a railway judge and a rail been an excitement in the railway world, and it had arisen from lie had no fear as to the ultimate success of that line, way court? The Hon. Solicitor-General had told the House the successful progress of existing companies. Every person in spite of all that opposition.—( Hear, hear.) He thou g ht distinctly that the power of dissolution was compulsory. Now who had considered the subject former what would be the the proposed Bill would give to competing lines advantages how was it to be made compulsory? An Act of Parliament effect of the success of the present companies, and that others which might be unfairly used against rival companies, a n d could not be considered compulsory in questions of this kind, would attempt the like success, at. the time when the parties enable them to burke their competitors. Existing companies because the utmost they could do would be to levy a fine, and 'who had been toiling in the field for a long time began to reap would have a very decided advantage over those who were it would be difficult to enforce those fines. They ought, then, the harvest of their endeavours. He had not been unfaithful mere promoters of lines, and he considered that no person to have a railway court and a railway judge. Take from the to the public on that occasion. He held in his hand a lon g seould he allowed to vote at these meetings who was not a bar one of those gentlemen who by their attainments and Falser, in which he had taken the trouble of collecting the holder of scrip on the 4th of April last, which was the time their experience are entitled to the confidence of the public, numerous observations made by him at meetings which he had when the first notice was given of their intentions. The and make him a railway judge. It might be said that the ne attended, and in which he bad cautioned them against these House was aware that when a motion was on the paper which cessity for such a judge might not exist for more than wild specul a ti ons an d thei r results.--( Hear, hear.) It was of was not agreeable to parties, those opposing it refused to come two or three years. Well, then, the expense of the experi no use ; and had her Majesty's Government interfered at into the House in order that there might be an adjournment. ment would be diminished. The confidence which would that time, it would have been said they were interfering with This would be precisely the mode adopted by those opposing result from the present state of the administration of railway measures for the benefit of the country. It would have been a line or wishing for its dissolution. If he would permit th e affai r s wou ld b e , th a t one would apply to one court, and of no use to tell them that their works should not commen ce meeting to consist of oneefifth o f th e whol e sharehold er s in another go to another tribunal, so that the litigation on these until they had got certain sums of money to execute them, the first instance, instead of three-fifths of the amount as pro- matters would be greatly extended and greatly amplified. He Had her Majesty's Government interfere then, he was satisfied posed, . it . would ' be a simpler arrangement, a n d c o ll ec t would eubmit . to the consideration of the Government whether that they would not have interfered successfully, a . nd . it was better the opinions of the shareholders much more effectively , these difficulties would not be obviated if such a court as he to allow it to rouse until astaesna w ti a o a n id of i, public opinion occurred. Parliament,, if it could set its face against this undue specula- had suggested was appointed. The thing itself was a novelty. The measures now proposed He owned that there was great advantagepartae i a salutary l effect, lion, it ought to do so. He was applied to repeatedly to be- Those railways destroyed the whole common law with respect aa n e ra ta i railway comma - , come d a provisionall. committee-man, but he invariably r e f use d to public ways. The public ways were understood to be the nication, and that it was of essential im he i country, t o aihs o a so. titing the whole course of the autumn when the smroperty of the public, but since the railways came into opera but an excess of speculation might be injurious There mania th prevailed to its greatest . extent, he actually tion there was no such thing as the public claim being ring a statement made in that House, on the authority if trembled at person from whom, however eminent or distinguished he i * haits .e extent . of this . speculation, and on account of nised. He therefore suggested the propriety of having these be . , he (Mr. Hudson) felt bnund, in Justice to Parliament might conseque . neee, and he advised his friends to abstain from matters investigated by a railway judge. ment and speculating in railways, The statement w After a few words from Mr. PACKE, to the country, to differ. u, that the expense The CHANCELLOR of the EXCHEQUER said there Mr. MILNER GIBSON wished to ask a question of the he n ' e did seemed so general a con rut r in the with that statement, and thought that nothing the Gov t. ence - General. He wanted to know whether, if a not agree ernment, that it would be unnecessary for • than to allow such an opinion to go forth to dress the House him to ad- shareholder who had purchased scrip in the market should could be worse He would refer to a paper which he at any length with respect to them • , attend a meeting, and sign a petition, his position would be the country. reference to that matt had in but as certain • had objectionsbeen taken as to the courseof his Pocket, which here some matter. the Government, he should make one or two fora series of t observations in visions as those to which the original allottee was liable? He had been connected with railways him of years, and reply to them. It had been, in the first i of capital entrusted to had the largest amount ssne c , stated that The answer of the Solicitor-General did not reach the ashamed of such a might have interfered at an earlier period with Gallery. individual in the country, but he would be . respect to those projects, and more directly than inform, they af had now Mr. BARKER wished to know whether the scrip position if he declined to come forward and suchthis subject . Witt ,iiicie*Every one who had watched the tion as he could supply in reference to .of . j 10/ ration in . railways, must be aware that rogrew the s . pecu- holders who signed the requisition that a project should be respect to the Midland Company, the price iron was . was carried was in • were 7s. the cum • the extent to which it carried through did not itself pregnant with considerable danger • to ginal shareholders? place themselves in the position of (wi per tun at the time of its construction. The sleepers The non in commercial temper of the country ; and lac d• a piece and land, and everything else in proportion . could ta wich he was, he certainly did use p all then i the situ- The SOLICITOR- GENERAL said that the point was the other day he bought iron at 91 . the ton, and sleepers from 4s._discourage all those on whom he thou means he subject of his most anxious consideration; and he could not were not influence front embarking• ght he had any answer it at resent. to ss. Land also was cheaper, and prices in general . in those speculations, or •' g BE . to their countenan • Lord G. NTINCK said that he did not desire to dis ao excessive as in 1841. He had a few further observations se to them ; but it appeared to him: girl'''. reach would to an extent which that it courage those railway speculations which were founded on a snake. He was quite sure that the directors of every company Parliament could not ssibl i d • foresee. It is would give an opportunity to the shareholders of considering true they might, by the adoption of arbitrary so d and rational basis, but he was greatly rejoiced to see the the course iroper to pursue un d e r t h e c i rcumstances , With measures , t ahave materially reduced this speculation, by onlyl thisirtro introduction of measures tending to repress the excess of respect to one railway w ith w hi c h h e was connected, and he l ow i n h introduction of Bills required by the wats ot a tie Sun sort ti of speculation. His Hon. Friend the Member for was sure that many others would be similarly c i rcums t ance d, c ountry ; _ but then the difficulty of selecting those which should her Majesty's . hcl a expressed his approbation of the conduct of every 501. share rose to the value of 3001., owing to the ex. be he pro d c tffi ee i d a e l d t wifthhend those which should be withdraw n . Bentinck ) could Government in r in iw thi t s ha m t atter,l l3 4 he (Lord George ortions of a few individuals, and himself among th . e numbe!., 1 e ( t A o ir. t Aisfawrir r f i oresee n by the Hon. Member for duct. The Right Hon. Gentlemana, p s t r e aaoana Chancellor l 1 their e ior of the strongly supported it He had great pleasure in supreme - Nlanchester drawal of all competing linesh i liPs),_who suggested the with. Exchequer had drawn the distinction between the people drunk ing the resolutions. with ords on a attended enormous difficulties, on from Parliament ; but that was and the people sober; but he (Lord G. Bentinck) begged to Mr. MARK PHILIPS begged to say a few w account of the selection ask whether her Majesty's Government had not had a great and the arbitrary nature of the • that involved su much public interest. He could course. This opinion was share in making the people drunk on railway speculation ?Up d b the Hon. question had taken place be- also expresse y Member for Sunderland (Mr to the say it was his wish, as some interference - ' he Hudson) which was no doubt in the recollection ofthe * 1.. year 1844 the excess of railway speculation was checked fore now this subject. At an early period of the session, , , House , .3 , the necessity that existed of making a deposit of 10 per cent upon course which they thought it advisable to pursue, was on the ' motion to the House for taking the The only _ . shares . That was a wholesome restriction on wild was inclined to submit a • dto cool a little, and that there should s wouldofto allow the public min peculation, and had the effect of preventing bubble matter into consideration. He thought the House dof the don f th - the pu lc min ger o here ape- schemes In the year 1844 her Majesty's Government reduced come to a resolution of not taking any lines of railway this culatlons. That, of these s eculations and the responsibility and that reduction 10 per cent, per share to 5 per cent., session which were of a competing character. That was his saw the danger had, p the delay in bringing, for- lotions in on tended very much to encourage wild speeu view of the case ; but he was told, that if he were to bring it. attached to them. They by nee of the Hon. Stem- money market railway matters. But this was not all. Whilst the forward, he would most undoubtedly fail. He was certain that ward this motion, gained the concurrence forward h 'I was easy in the year 1845, those speculations had brought sue on tai ways rose to a still greater • ' much capital had been absorbed in railway speculation which her for Sunderland. which, if they_ It was sid rule at a Board, at the head height. It was an established should have been laid out in manufacturing districts. He was of a Bill before now, they would not have gained. for this ful understanding, and a of which sat a nobleman of power opinion that the development of the railway principle was that they had done wrong by not having legislated saved Lord Dalhousie, the Chaerigarnfectf man of business — he meant of great public benefit.; and those who had studied before such Bills as these went into Committee, and courage the number of competingo the. Board of Trade—to dis thatbeen done, lines already in the market. principle were persons who would have reflected honour such parties expense. But this could not have Government did not in the ca • 'Tying of any great mercantile principle — 4 Hear, There had been a Bill progressing the Trade, but on the contrary. The Right back the Board of hear.) They had studied * s ' If the assent was given to Hon. Gentleman at the system, and the' had found a effected the whole uestion. - the Government stated beneficial result, constituency, there the head of that House, that and they had conferred large a amount of third reading of the good on their country, et was important to see that too much would be no further interposition between . . and most direct railway communication. capital was not directed from the legitimate have the shortest actions of the country ; and while commercial trans- thebehind him had said that a check Bill. His Hon. Friend . these What was this but an encouragement to this sort of speculation, with he hoped the proposed should he put upon those who had purchased scrip on ion to the old exist and an inducement to set up lines in opposition course would not interfere the full and fair development inchoate railways, because if that was not allowed, those great . of It was in that way that a great part of exist of the railway principle, which he looked lines railway . upon as one of the raelway companies, whose interests might be furthered ing . tion originated. The Right Hon. Gentle evils blessings of the country, he trusted greatest the railway specula resulting from undue speculation. it would check the by the dissolution of several of the present railway pro with increasing these railway schemes in On these grounds, he jects, might, before the proposed meetings were called, purchase man was not content . that it not to be endured gave his most cordial support to the resolutions he also stated Manchester, Liverpool, and Birmingham the resolutions proposed by the Right Hon. impression that enabling them to vote for their dissolution, and thus removing that such towns as miles round. When the Baronet were not rival companies out of their way ; but his Hon. Friend should should have to send ten or twelve his own . He (Mr. Newdigate) however concurred i in this way, no had fallen from the Hon. Member for Manchesterin what recollect, that it was impossible to impose such a check, because Hon. Gentleman encouraged these schemes . , respecting they could not ascertai n at what period those scrips were issued person could be surprised that the public entered into these t h e ev ils of speculation. The Right Hon. Ba'ronet to him to have trusted too much to the operatior of his because of the infinite rapidity with which they passed hands, speculations, but not only did he encourage them in this way, nia of 1844 to check this speculation. It had h's He was sati s fi e d th a t the present proposal would have the effect the Right Hon. Gentleman consented to be the hero of the doubt with a heavy hand in interfering with s etuiati operated of more effectually' preventing tricks being practised than under silver trowel ank the mahogany wheelbarrow.—(Loud laugh nobut that had not been sufficient, for it appeared a:3.th tkne the present law. He wished not to imp. ach the privileges ter.) So much was the support of these speculations attributed requirements of deposits they had given scrip a charalcter which these several members possessed; but he at the same to the Hon. Gentleman, that in the town of Burton, in the which did not belong to other kinds of commercial paper. hme must remind th e Hou s e of the peculiar position in which neighbourhood of Tamworth, there were no less than eleven tad been made to assume the character of money, and ex- a these l members were placed. As, for instance, in the case of competing railway schemes got up by enterprising specula bad empleyed in that capacity. He could see no due , waerrg: to snake . it was very evident that they possessed 1 tors —(Laughren.) means of limitiug railway speculation, unless all shares issued ceu ' ying u th:i a r shares intereie in the smaller companies, by ; Mr. CARDWELL said that he would be excused for not were registered, , and to afford the means of access to the book* suchbuying up ' ares, and against such reports he had no ' feeling with the Noble Lord ins the allusions which he had just complaints to make. Yet while sayine thus m h Is e lar el d ' fact, to make • • e uc , ee eee I made, but as one observation he had made partook very g y in which they wereregsseere —in a similar measure lievcd that the resolution was no e tuffi i t for the registration of scrip as had been done with respect to for it was well known that the shares en remedy for the evil; of matter of fact, he (Mr. Cardwell) would take the liberty of the money weekly issued by bankers, fur it was evident that pidity, almost with incredible raide Chan li Ted bands with ra- stating his opinions , with regard to the important statement Scrip partook of the nature of money, and ought to be sub- the danger that was to be apprehended, aand thaetriceoknsequeeely with e hick the Noble Lord had commenced his speech. The jested to a sismiler provision. so much had been said, was to be provided a ' gainst. , of which Noble Lord said thot the Chancellor of the Exchequer had Mr. WARD agreed with his Hon. Friend (Mr. Mark Mr. GISBORNE would only detain the House but a spoken of the people drunk and the people sober, and that if Y the people were drunk, her 111&esty's Government had Philips) that no speeal,ation like that with respect to railways sheet time, and, in doing so, he should b t Yer '• .eg C) refer to his made them drunk bm „r the alteration which had taken place in had existed in i• L 'lli city Hon. Friend th Fioree the South : , ea bubble and the ' e Slumber for Manchester. and the Right Hon therate • Alississi n scheme. - tie also agreed with him that it had ! the Chancellor of the Exchequer. In doing so, he must ; ment p d er cent, with regard to the deposits. If the Clovern divertedPicapital from ' its nroper chat - we:a. Persons of ' that the course which the Government had prescribed was thesew m ai La the people drunk, and caused their speculations in mall means - entered into t h i s s p ec elation to tin alecioet ' contrary to the object which the Bill was intended to attain. in the yeara?r B s 4 by4 l .h a at circumstance, he would add that it was and r f heir ()elect evidently was to carry a restraining Bill ; hut#B44 that trade was not in a good condition, and incalculable extent, re eardlees of the consecences, by 1 that the money et was not fieterishine. In the year 1844 wo. . this measure it woeld seem that, under the present state of the also matters began without any previous in hf Id I the ' retry as to t e east i ity o e. to mend and speculations' began to such a measure was impcssi/ele. He wished that the 1 increase. If her Al • '* ' • railway ' jests in which they hazarded g their capital—no one iriquired law, , . . ajesty s Government caused this increase, where a '1 h 'whether it was Right Hon. riarotiet: the First Lord of the Treasury, 470;:ld.1 it was because th ' rat way went to—(Laughter)—or required in the district throughwhich it act upon the principle of was pro- the Chancellor of the Exchequer; more easy this state f the ' 4 and , • P money mar et, that improved state was the eatiae of the evil complained of. The statement was not his (11r. Cardwell's) but the Noble Lord's, who drew his own deductions from his statement, and he (Mr. Card well) now defied the Noble Lard 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 int ox i cat i on was at its height, and the rule then in force w as , t h at previous to the presenting of any petition for a railway, th e sum of one -tenth per cent. on the money to be subscribed sho u ld b e d eposited in the Court of Chancery. If the intoxication contintnal 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 peculation?s Mr. HODGSON did not agree with the opinion of the Hon. Gentleman w h o h a d j u't spoken. airier; the period of de pression which preceded the ye - a• 1844 it was difficult to obtain money 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 d epos i t to 5 per cent. When, however, during the summer, specul a ti on rose to a great h e i g ht again , th e 10 p er cent. w as f orce d to be re-introduced. Mr. T. S. D UNCONI BE said that be thought . that Govern ment was not m os t t o bl ame w i th 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 for 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 opini ons o f t h e present script orders of companies. The Right Hen. Baronet, in his statement that evening said, that circumstances had changed since the introduction of th eso projects, but the Ri g h t H on. 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 send them to the Committees up s'airs ? Were Hon. Members to wade through all this filth and dirt described by the Right Hon. Baronet? He (Mr. Duncombe) should propose some resolution to the House, which would push this ques tion to the bottom. It would decide what requi sites these companies must have, and the bond fide sincerity of these 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 Hononrables. It was an advertise ment of the Direct Manchester, and Northern Railway. He had been looking for the Bill amongst tte Committees, but could not find it. There were no less than 172 provisional com mittee-men on it, arid 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 out 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. He 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 how could the public 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 lie 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 was 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 millions 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 amount 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 of the company did not exceed the depesits paid, then he ad vanced the balance to comp), to 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 immedi a t e l y 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 hail been paid up to meet th e standing orders, found out the mistake by the calls that were immediately made to make up the deficiency. The g rea t es t an d mer est bubble might go befor e P ar li ament under this mode of raising the 10 per cent. deposit s , i n order to comply with the standing ord e r s o f the House of Lords. Another resolution he meant to propose called upon the projectors of those companies who went b, fore Committees of that House to give an explanation, not only of the amount of deposit paid up, but also of the spurce 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 Howe, 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 private Bill, originated in this House, relating to any railway, before proceeding with the merits of such Bill, to require to be produced before them, and verified by the promoters without the appearance of counsel, " A copy of the original return made for the purposes of provisional registration with the names of the promoters as then registered. The names, residences, and descriptions of the present and past provisional directors, treasurers, solicitors, secretary, and other officer, if any. " The present and proposed amount of the capital of the company. 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 holder of railway shares, feels the necessity of protection here. Her Majesty's 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 take n . H e qu i te 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 of 51, per cent., or double that amount, in compliance with the mt s Gh t a eee deeqeinrudeagmii qualification. r new d at a e t I r do s ee , :i ne ga to The equally nht nde e qualificatione uncertainty, t thisn e ffi s e t a s t c e i a o nuedsf made. having h H n eg o s w g, ht wt havinglei i t ec t ne l e h m aoednettrehh changede ago was changed to what was considered one more 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. Bentinck) had referred to the circuin , tance s 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 did so? The Chief Minister of the Crown himself—a great Finance Minister was the party who did so at the time which his Hon. Friend the Secretary of the Treasury described as the height of the railway mania. In doing so, that the Right Hon. Baronet, in investing himself with the railway paraphernalia, and giving effect to the occasion on which he made his appearance, gave an impetus to speculation no one could deny. He (Mr. Disraeli) had it in his power to give evidence of the effect of that performance, as be had papers in his possession which, 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 Alinisier 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 Manchester or Liverpool would not submit to be carried round ten or twelve miles about by existing lines, but 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.) He could not acquit the Right Hon. Baronet of fostering and encouraging the railway mania; neither the House nor the country could do so. —(Hear, hear.) They (the protectionists) were never allowed to refer to the prosperity of the country as arising from good harvests; the Ministers took credit to themselves for 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, end lead to public disgrace.—(Loud cries of " Hear, hear.") It was the duty of the Government to gua public tone fortunes.—(Hear, t of u the n es. — p public r m , mind, hear.) and B to et twatch systemand which direct everything to take care of itself, to follow its own course, whatever might be the e ffe c t on the condition of the trhhdaed the hitherto gained such favour, that of leaving 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 lone 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 1 The senators we re 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.) Honourable 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 Frederiek 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 Government 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 House with one or two observations, after the remarks which haa been made by the Hon. Member for Shrewsbury. He had, in the whole of his speech, endeavoured to show that the Government were incon sistent in bringing in these resolutions, and in their general police with regard to this suLject. But he (Mr. Bright) con 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 interfering 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 bad, 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 lately 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 had 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. Ile had every confidence that this measure would produce a steadiness in the money market to which they had 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 or gambling. Mr. DUNCOMBE, in answer to an observation from Sir George Clerk, said he would be exceedingly 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 will naturally say to the committee of management, what money have you in hand? 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 tcnFvtwihhoia w inlhemenml ould tend to any uosful purpose. How could it be possible 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 receivel.—( Hear.) Mr. DUNCOMBE said he would adopt the suggestion of the Hon. 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 must materially. Colonel SIBTHORP said be would enter his pretest against the Government doing that at the eleventh hour which they should have done at the first. A A oiascwet f hrseu t . esprrwiroooha:r. provisional tß:eoiwt counties nhne had idlwordsesaiCOLLETTn,lnuwo committeemenfoi r udi o heno m b. S o tuisi subscribed b G dhts aht . hchtaree C sivyhvbte L aeewhdr E dt,eeoa ß rwelabedeseynoa , tion was most inquisitorial ; and after the many sufferings h thought it somewhat unjust.— ( Hear, hear.)osdniaydwenteteheirtxehpd experienced, r t ei h ei etnhcreeerds the _ ds l a i n s n o n t o n oian o t e l hopeme o i n t tfiedoetrfnmeheeenno, benefiting and fitt as ihnegi r nmaatn fellowyt h o e mra f themesenl men. The themselves, comea hh d aet Ht bad to hold them up now to the world as parties unwohrtechirtyifeoosrf owthheetrhberu,t afterhonest th m e motives, but shff sufferings n p g u s ti t provisionalt t heHon. committee-menCe nman had encountered, it was fair to publish their names in th• man ner proposed by this resolution.—( Hear, hear.) The CHANCELLOR of the EXCHEQUER apprehended that the Hon. Member for Finsbury did not require the names, but only the amounts subscribed collectively by the provisional committee. Mr. DUNCOMBE said that was all he wanted. euncea.ttteolleAdwaileetrii forwarded,nitsob,dvw The resolution was then agreed to, as was also No. 9. On No. 10 being proposed. ask A After r a establishe d short discussion objectionable disclose their words were struck Mr. WARBURT ON was understood to object to the words "and of th e li a bili t i es " on the ground that it was not right to ::.. nd w t A he ß r n es u ol ß u T ti resolution, as as said amended , this resoalgurteioedn in its ld flia n dnH o ece t fit jer a anD p wyt i i ) sin l ft y uoghn t N o ttithsi t i h eseia e npi eri ß oxht i vpah l Bills promoted ndi l osH , en r tosooomnof.of enablet tt e hGh d eeemi b nr y t el to e exh s t nuie t st a mat established to igw s o Aai carry d caeqtriuorr companies, fepouraitrg thihat e.. present form On No. 10 being proposed, for they raid no deposits at all, but merely certified that they Many companies we-e seeking proposed undertaking. for powers to construct works in surplus capital. Mr. RICARDO remarked that there were many companies not in so fortunate a position as to have surplus capital, and in such a ease as that it would he desirable to know how the funds were rain. d. lhawoncaueocAdAtunol: "The number of shares, and the amount of each share. " The cumber of shares actually allotted, with the names, residences, and descriptions of the original allottees, and the number of shares allotted to each. " The amount of subscriptions paid up by such original allottees. " The amount of shares retained by or for the provisional committee. '• The amount of subscriptions actually paid up by such pro visional committee, and the number of shares now held by them. " The original subscribers' agreement, signed by the allottees. " A statement of the amount of money in hand, and of the liabilities of the proposed company, together with an abstract of all receipts and expenditure up to the presentation of the petition for the Bill. " A statement of the source whence the deposit was paid to the Accountant-General, whether out of the deposits, or by loan. " A statement of the source whence the additional 51. per cent. required to be paid by the other House of Parliament will be paid or rai'ed. " And that, in case the said Committee shall find that the particulars, or any of them, are not furnished, or shall be of opinion that the said intended railway was not origically pro posed, or has not been carried on bona fide, or from any Other cause is not likely to be executed if the Bill be passed, the said Committee shall desist from Proceeding with the said Bill, and shall report the facts to the House. " And that the Committee reporting on any railwa_ Bill re port specially on each of the foregoing particulars." Y Mr. MONCKTON MILNES said that he had remarked nn a former occasion that many of the railway companies (Mr. Dun proposed would not admit of examination. Although the in quiries sought by the Hon. Member for Finsbury combe) might be very amusing, and the mysteries of Capri"- court might serve the " Mysteries of Parispc' r st p il a l e. h_e did not think they were necessary for any practical hear.) The, Hon. Gentleman had omitted the interest of Hear,the have again, public in the matter. They had got before them greater amount of railway business than they would ever and he should regret their carrying any resolutions that would deprive the measure 'before the House being as fully and large)y considered as possible. If submitted to the probing andf investigation of the House, he was persuaded that the best F ree would be carried into effect. He did trust no resolution of i t n h e e s House would be agreed to that would prevent the presentou schemes from being investigated before Committ ees of the H Mr. DISR A ELI said he could not but b e li eve the di,eusse. sion in which they were engaged was one of considerable im portai,ce. He thaught the resolutions of the Hon. Member for Finsbury contained a great deal of good sen se , 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 p er.l. Wty at so late a time offer such co_nsid e Hear, h ear. ) All rations, wh et h er fro m the Opposition or the t ;overnment ? ( ac knowledge the mi , chief done, and all are now ready to p ropose 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 Governm ent, however anxious to free industry, or facilitate the application of ycapital, had acted as well as a neighbouring countr , w ho had not the character either in the amount of its capital,. or the character great of its labour, that this country had. He ;Fight game France, B.y projects, for instance, where . Complaints hid been niade of th e dela- wliich had taken place in the granting of raik thotigh be believed ota complaint was trw ma d e. And while no complaint was made of the tardiness of of France,interference there u was great complaint respecting the swiftness England. In France, be admitttd, thpy were Lenefito in this 'respect 14 the Government, but in England they were ' not so benefited.—( Hear, hear.) '' The Government were now seeking to ihtertere with capital and labour. I f ,Il T act, to carry Sir R. PEEL said the resolution simply called for the source whence the deposits were obtained, and he thought the objections urged against it would be removed by omitting the restrictive words, namely, " whether out of the deposits or by loans." Mr. BROTHERTON thought the existing companies had an oodoe advantage over th e new compan i es ; f or w hil e t h e 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 he had no objectioo to omit the words suggested by the Right Hon. Barooet. The resolution was agreed t o as a mended. Mr. W. COLLETT, having in a few observations, which were indistinctly beard it} the reporters' gallery, condemned th e . . .. tuqututorta character of the course proposed by the Gov ern . meat, T. 4, F, SUN, I:ONDON, FRIDAY MORNING, APRIL 24, 1846. 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 INSURRECTION. 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 wi,hed 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 so addressed, whether there would 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 proceeded to move for copies of the memorials received by the First Lord of the Treasury and the President of the Beard of Trade, respecting a reduction on the duty off tea. He thought that it ssas desirable that the attention of the House should be called to the enormous duty at present payable on tea. The increase in the consumption of that article had not increased in proportion with other articles of consumption. The increase had only been 1,796,0001b5. during the last five years. That article was at present subject to a higher duty than had been paid for the last thirty or forty years. When the tea trade was in the hands of the East India Company an ad va'orem duty of 100 per cent. was imposed ; - when that monopoly was done away, a fixed duty was applied, 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 bein g 2s. 24 - d., would n o t b e 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 tra4e 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. In the United States there was no duty. In Holland the duty ranged from lid. to 4d. Even in our colonies the daty 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 to the consumer was from Is. 3d. to ls. 6d. per pound, but the best result for him to mention was the amount consumed. In Australia the amount was 12i lbs. per head, while in England it was only 1 1-3 lbs. per head. 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 used. He trusted, therefore, that this subject 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 Presiders` of the Board of Trade, praying for a reduction in the duty on tea. Mr. MOFFATT rose to second the motion. This was a sulject of vast importance as affecting our commerce with the East. The great complaint of the Chinese was that so much of their specie was sect to this country. The exports from Great Britain to China in 1944 amounted to 8,971,000/., while the imports were only 4,379,000/. We also imported 3,400,0001. in specie from China in that time. The Hon. Gentleman went into a variety of details, for the p urpose of showing that by the reduction m a d e in c offee 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 q u it e assure d 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 imports tion of that article was now very mu,;ll reduced. We charged from one hundred to three hundred per cent. on the importa tions from China, and our exportations to that country were only charged at three per cent. The rates of ditty 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 Hon. 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 upon 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 trede. He had had many opportunities eurin g the present session of discussing many of the points in reference to this subject, and therefore he should say that he hoped the matter would be more fully discussed ; and when he came to 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 he looked upon as one of the most important that could be brought under its cowl deration. He did not consider that the statement made by the Right Honourable Gentleman opposite, was at all inconsi-tent with that of his Honourable Friend near him. He assured Hon. Members that there need be, and was, no limit to our t ra d e w i t h Chi na, b ut unless some change took place the trade could not increase but decrease. He had no ,ish 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 Chita. 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, so as to give them a larger proportion of our manu factured goods in exchange for their produce. There might 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 fur 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. RAILWAY COMMITTEES (YESTERDAY.) GROUP %XXIV. There not being a sumcient number of Members present to make a quorum, the Committee was adjourned till to-narrow. Sub•• Committee No. 1. This Committee met again at twelve, in Reom No. 7, when there were present Mr. Strutt (Chairman), Mr. Beckett, and Mr. R. Clive. The only Bill upon the list was the YOILIC AND LANCASTER. The evidence in support of the allegations of the petition before the Committtee was resumed. The remaining allegations of the several petitions against the Bill having been discussed at great length, the Cominittie finally de clared the standing orders not complied with. They then adjourned at about quarter-past ens till twelve to morrow. Sub-Committee No. 2. The members assembled at twelve precisely, Sir J. Y. Buller in the chair. There were but two Bills on the list, namely, the Thames Haven, Dock, and Railway (No. 2), and the Bideford and Tavisteck, both of which stood over from yesterday. THAMES RAVEN, DOCK, AND 12.AMCNITILY. The refractory witness, whose absence caused this Bill to be ad journed yesterday, having been brought to his senses by a summons, the case was proceeded with, and the standing orders declared corn- i plied with. 31ZDZ.VORD AND TIVVISTOCS. 1 The case for the opposition was resumed. The evidence and discussions as to the allegations against the Bill occupied the Committee up to a quarter past two o'clock, at which hour they adjourned till to-morrow at three o'clock, in order to give time for an arrangement to be made between the parties concerned, as to which of the allegations should and whi c h should not be ' ad mitted. Upon some of the allegations the standing orders were de clared not complied with. ______.......,.....• Sub-Committee No. h. This Cemmitee was to have met this day, but at twelve o'clock Mr. T. Egerton was the only Member present, and the Committee stood adjourned till Tuesday, the 28th inst. The Committee met Su short Cly ommitte There were three Bill s on the e list tweviz.lve, Capt. Jones in the Chair. Treat Valley lands, and Gr an d Junction. 2. Warwickand Worcester (both , which Bills stood over from yesterday), and 3, Birkenhead and Llangollen. TRENT VALLEY, niEZDLANDS, AND GRAND JUNCTION. The formal proofs, the deficiency of which caused the cage to stand over, were now completed, and the standing or,iers were declared compiled with. WARWICK AND WORC EsTER. This Bill was again called cn, and the evidence for and against the allegations of the petitioners against the Bill was given at great length. Mr. Fitzgerald, civil engineer, from the office of Mr. Hughes, was examined to disprove the allegations of the petition, and the Com • mittee declared severa of the allegations proved and others not proved. The discussions on the points raised occupied them up to the time we went to press. The ease not being completed at tar o'clock stood over, and the Committee adjourned till to-morrow at twelve. STANDING ORDERS' COMMITTEES. HOUSE OF LORDS. Their Lerdships met this day, for' the first time since the Easter recess, for the dispatch of public business. The Committee, in con sequence of Lord Da!housie's motion, came to the determination of adjourning all the Railway Bills which came before them on second reference to Monday next. Amongst the Bills so adjourned were the following : — Londonderry and Enniskillen Extension Railway— Waterford, Wexford, Wicklow, and Dublin Railway—Dublin and Kingitown Extension Railway—Clonmel and Thurles Railway— Limerick, Ennis, and Killaloe Junction Railway—Great Southern and Western (Ireland) —Cork Extension—Mallow and Fermoy Railway—Killarney Junction Railway—Mount Mellick Junc tion Railway—Larne, Belfast, and Ballymena Railway —Bally mena and Ballymoney Railway—The Newry, Warrenpoint, and Rostrevor Railway Bill—and Omagh, Dungannon, Armagh, and Belfast Junction Railway Bill. The Sunderland Waterworks Bill went through the Standing Or ders, and also the Sunderland Gas Bill. PARLIAMENTARY BUSINESS. (From the Votes and Proceedings of the House of Commons.) WEDNESDAY, APRIL 22. The following Railway Bills were withdrawn : Liverpool, Warrington, Manchester, and Stockport Direct. Ayrshire and Caledonian Junction. The following Committees on Railway Petitions have been ad iOurn-d to Monday, May 4 ;—. Midland Great Western of Ireland (MalUngar to Galway). MidilVA Great Western of Ireland (Longford to Sllgo). Midland Groat Western of Ireland (Liffey Branch and Longford Deviation). The officers of the National Guard of Paris, being at the muster on Sunday last, got up impromptu escape from assassination. ft dinner, to cele brate the King's happy The most loyal greatest en thus atm,toasts and speeches were given and receiv e d With the ! AMOUNT of RAILWAY D. '~.. , ; k!,OSITS'; I 1 X. s. d. X 49,895 1 ,in 47,500 50,519 12 0 in 48,400 199.816 10 4 . in 189,500 99,222 6 9 in 93,900 104,747 0 2 in 99,700 14,994 16 3 in 14,500 206 16 6 in 200 42,088 17 9 in 40,700 37,463 2 6 in 36,000 36.899 1 2 in 35,300 1,992 17 3 in 1.900 8,568 14 3 in 8,300 4 029 3 9 in 3,900 4,300 2 8 in 4,100 4,425 13 6 in 4,300 18,732 7 0 in 18,200 56,226 0 10 in 54,300 14,924 2 6 in 14,500 20,585 0 0 in 20,000 1,339 16 3 in 1,300 41,913 19 9 in 441,600 Exchequer-bills ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto ditto 811,891 18 10 in 777,100 ditto The whole amount charged as commission on the purchase of the said securities was 459/. 1 ls. 5d., of which sum 275/. 145. 10d was received by the Accountant-General, and 183/. 16s. 7d. by his broker. No portion of the Stock or Exchequer-bills has been sold, but the sum of 56,815!. 3s. Bd. Three per Cent. Consols has been transferred, and Exchequer-bills, amounting to 494,4001., have been delivered out to parties by orders of the Court, without any charge as commission on the said transfer or de livery being made by the Accountant -General or his broker. The remaining E xchequer -bills are still standing in the name of the Accountant -General to the credit of the several rail way undertakings. WILLIAM RUSSELL, Accountant-General. Accountant-General's-of:Hee, Feb. 14, 1846. G. MORTIMER, Broker. DARING ROBBERY BY A CLERIC EXTRAORDINARY CONFESSION. On Saturday last, information was received at the T digi t sion station-house, Kensington, that, about one o'clock that 1 attesnoon, a young man, named Henry Norman, clerk in the service of Mr. Villiam Hoof, the builder and exten t' sive railway contractor, had absconded, stealing and taking r with him - the sum of 571., the property of Mr. Hoof. O a the same ev e ni ng Mr. Horeceived the following letter from his dishonest servant, which was a curiosity, as a confession of misdeeds :-- "Sir,—l have to inform you that I am not what I repre sented myself to you when I came to your office, and to give you a alight history of myself, that you may understand that it was quite impossible that I could remain a clerk in your service. At 17 years of age I entered the Queen's service, in the ' customs' of Jamaica, and continued robbing them of many thousands o f poun d s before I was 21 years of age. I afterwards went to the United States of America, where I committed numerous crimes, not even hesitating at murder, and finished of by robbing a pawnbroker's shop of about 1,000/. worth of money and property. Since my return to this country I have committed so many robberies in different places, and so many people know my renown, that you must have soon discovered it. Circums stances over which human beings can have no control have made me what I arn. The principal is my having had the misfortune to have the most degraded, drunken monster for a father that ever a p tor devil had. What I might have been had not the Almighty made me the son of a despicable wretch, I dare not think of, or I should drive myself mad, Caesar, in his account of his Gallic war, says he took I,S'OO cities by assault, and slew a million of men. I have com mitted more than 1,800 distinct robberies, and have been concerned in five murders, besides many other atrocities, which, on a small scale, entitles me to consider myself as great as Cxsar. Fortune sent him into the world nobles born, in fortunate times, to push his fortunes, and the some jade sent me into the world the son of a low --, and that scoundrel took care that I should not have a chance of being anything higher in the social scale. Mr. add is at --. If y ou are l uc k y enough to catch him sober, ress he will inform you of the truth of what I tell you, or you mase ascertain it by calling at the Custom-house, in Thames-street ; ask to see the secretary. The greatest gamester, felon, villain, murderer, and swindler in the world, bids y ou f arewell for ever. " HENRY - NOR M AN." The letter was addressed to " William Hoof, Esq., Ma. deley House, Kensington," and bore the post-mark of " Judd-street, New -read." Similar letters were also saint to Dr. Palin, at whose school at Barnes, Surrey, the debnqnent was educated, and to another gentleman to whom he was known. It has subsequently been ascertained that he re signed his situations in the Customs on the 31st December, 1841, his defalcations amounting at that time to 7501., and also that he was apprehended, by Superintendent Beresford. C division, in August, 1842, on a charge of stealing a gold watch from a house in the Haymarket, at which he was lodging, but was a cqu it te d . Inspector ' Shackell (detective police), Inspector Itsvell (T division), and other active officers, are engaged in tracing the retreat of the fugitive ; and. there is every reaosn to believe that he will be soon in custely. He is described as about twenty-seven years of age, five feet six inches high, dark hair, eyes, and whiskers, rather bow-legged, and the little finger on his left hand contracted ; was dressed in a blue pilot-coat, blue trousers. with black vest and stock, and was tbrmerly clerk to Messrs. Richirond, of Whitehall. • SALE OF THE GREYHOUNDS of MR. PALMER, O Bateroe.—Wednesday th e ent i re kennel of greyhounds of Mr. Palmer., F of Bristol, who has declined coursing, Was disposed of by auction, by Mr. Houghton, at Aldridge's Repository, St. Martin's-lane, which was numerously attended. Among the lots, of which there were twenty five, there were some celebrated winners of cups. The following were the prices at which several of the lots were sold ;—Pilgrim, a red dog, the whaler of the Great Western Puppy Cup, beating Bow yer Sinytlt's Spinster, and several other does, in 11s. ; Priam. Lawn dog, out of Little Vic, 10 guineas ; Little Vic, a well-known winner of many cups, 7 guineas; Paler, a fawn and white puppy, 91. 19s. 6,1. ; Peregrination, a fawn bitch, Si. las. 6d. ; Perseverance, a red and white bitch, 91. 19s 6d. A puppy whelped this year sold for five guineas, another for six guineas, and a third for 61. 15s. Gd., in consequence of the excellence of the breed. ACCIDENT TO THE REF. H. WINCH.—On Thursday last the reverend gentleman, who is a brother of Lady Sale, was re turning to Rye in a small four-wheel carriage ; on approaching Messrs. Roars ship yard, on the Winchlisea-road, the horse skied, and becoming unmanageable, kicked the front of the carriage to pieces. The servant escaped by jumpleg out, but Mr. Winch, who had hold of the reins, was forced out by the phulging of the horse, and was dragged along the road for some distance between the wheels of the carriage, till at length the horse broke away from the carriage with the broken shafts at 11:s heels. Assistance was procured, and the reverend gentiman, who had received several contusions on the head, was conveyed to the Cinque Port Arms, and in the course of the evening was removed to his residence. ITALIAN POTATONS.—A vessel, called the DeWdr Op, arrived at the port of Liverpool from Leghorn, had on board ten tons of potatoes, the produce of Italy. The importations of potatoes from the Channel Islands continue at regular intervals; several arrivals of the article having taken place since the matter was last noticed. ELECTION INTELLIGENCE. —Alderman Gibbs has pre sented to himself a valuable snuff box, as a slight testimonial of his esteem, in honour of his having again elected himself churchwarden of Walhrook. After the election Alderman Gibbs invited the church. warden to dinner. —Punch. PALMERSTON IN PARIS.—It is an extraordinary fia t that Lord Palmerston dined with the King of the French on Sinday, and nevertheless the Nation did not the next day warn its readers that France was sold, and perfidt Albion had bought her.—Pance. The remains of the late Earl of Erroll will be removed on Monday next, from Portman-square, to Wimbledon, Surrey, there to be interred. The Queen Dowager visited the Noble Earl's of tinted family on Wednesday. MARRIAGE IN HIGH LIFE.—The marriage of Made moiselle Lisboa, eldest daughter of his Excellency Commendeur Marques Lisboa, Envoy of his Majesty the Emperor of Brazil at the Mash Court, and Madame de Lisboa, with the Chevali er de, Sequeira, Secretary to the British Legation at the Court o f d d de Lima. A ft er the, in York-place, Portman square , by the Nev. Dr. nobility and members of the ceremony, a distinguished party of th e e was celebrated on Wednesday, at the residence of the bride's fa ther, a t p h i e w ir e p y r e e n s t e . nce at a ciiieuner given by that lady, in celeb r ation JURORS.—On Tuesday night a very nu merousPAYMENT of diplomatic corps honoured Madams fleeting of the inhabitants of Wandsworth WAS held in the dLisb° O; the h appy la 1-eroo l m of the Rain Inn, for the purpose of petitioning Paths meat for an alteration of the law relating to jurors, as advised by Lord Chief Justica Denman at the Lent Assizes at Kingeten. Mr. I. Benchard, one of the churchwarden.s, took the chair, and after several speeches, in which the hardships to which petit jurors are now exposed, were dwelt upon, petitiona to Parliament were agreed te, praying that petit urors, in civil cases, may be properly remus aerated for their loss o f time. THE VICTORIA FOUNTAIN AT BRIGHTON. --Her Ma jesty's approaching birthday, the 25th of May next, has been fixed upon as the day for opening the Fountain on the Steine, and it is in tended to celebrate the event with no little eclat. The programme include, a fancy bazaar, a fete in the royal gardens, and other at tractive amusements.--Brighton Guardian. DANGEROUS FREAR.—Some mischievous scoundrels have amused themselves during the past week with cutting about six feet out of the centre of a narrow bridge on the banks leading to Bracebridge. The bridge is at present left in this state, te the great danger of poring returning from Lincoln te Bracebridge night.— Ilhcoln Her. EMIGRATION.—The number ( f German (migrants constantly arriving in the port of London and sailing for the United States is beyond all former precedent. Every New York packet ship has taken from 200 to 300 emigrants to America during the pre sent year. The regular liners leave the St. Katharine Dock three times every month. The last three carried out 600 emigrants, prin cipally from Prussia. THE REAL RAILWAY RING.—A gentleman in the Queen's Bench has papered his room with nothing but railway share t. The effect is very rich. It is calculated that not less than three millions of capital has been sent in this way to the wall. Every county in the United Kingdom is there represented. The whole railway world is compressed into the space of eight feet by six. Th e gentleman breakfasts in England, takes his tiffin in India, dines at Paris, and sleeps in Switzerland, just according as he moves his chair We must not forget to mention that every share has been made to run in the direction of the fire-place. In this way the flue Inge niously represents the grand central terminus of all the lines in the world. —Punch. The licensed public-houses in St. Heliera amount o 192. MELANCHOLY ACCIDENT.—Mr. Philip W ha i ndtadis l h d yen , tfeio a os: s nri t a u nil d mee e li n u,t t of St. Edmund's Roman Catholic College, near Ware, and nephew of the late Cardinal Weld, was accidentally drowned the other day, while engaged in the amusement of boating with some of his fellow collegians at the Rye-house, near Broxbourne. lie was a tailor aacit a it:tor v u e iir r n : promising youth, about 17 years of age.. CHOLERA IN RUSSIA.—The Universal German Gazette states, on the authority of letters from Riza, that the cholera has just penetrated into Russia from Persia, and has advanced as far asi f f it ar st i , tl3° th v e. Casan and Orenburg. Coc(k3eUritinifithSwelintrtSoTaAnKeEig:.ihim:oiAluAarrft'steefgthoherrooowrwtunnephsehi.di.rtaarttetohahowreyffitnvhhtitaineanig.mleetl::ewjehabcrkeaecott which ch if "easgerness and haste, nee ojfatchkiestmouistboafp, af,K lo u rnd. u t itgp s ho o e h:ef f et tsb otohoQh commence ic n y e tt e . shl t a fil e h ca: f loi ntioitsi,lauolotinnil completed oe d s a tr, drti th e h , i nwh e ol cs iel o jataoe ac i di:tato:: coats. On 7sith all days ag h o e , an :: tel. absent el roYr that m hi l s r.d fah , t le tt ilidsu unfortunate uenh"" tailor had to stud home for anothet' : A TRIP T. LONDLO:.leaving que y the house of his patron.--Cv.m- CbManOalltt ‘l9l,dy:Prebackeliteentg.wudead th ink ---A worthy hi t h s e o re% l c t . o f London, left his residence, Monday, accompanied magistrate of this by the ashboouwtintgenhmisilessonfr from p h . 0 t his wande rscity, of n youtb, and arnved at the Ex eter station just in time for the earkv express train. They reached London in safety; and after a hasty repast, pro ceeded to view St. Paul's, the Tower, Westminster Abbey, the new Palace of Westminster, and other sights. At half-pat five they were again in the railway carriage at Paddington station ; and soon after eleven were seated around their own festive board, recounting the wonders of London; having travelled about 430 miles, and spent seven hours in the great . metropolis.--Exeter Gazette. A Return of the Aggregate Amount paid to the Accountant -General in Chancery during sion of Parliament, on account of Railway Co also, Statement of what Portion of the said 74 _CAL. invested in Stock or Exchequer-bills, with the Date of each Investment;—also, the Amount charged as Commission on the Purchase and Sale of the said Securities, showing by whom the said Commission was received. The Aggregate Amount paid to the Account of the Ac countant-General, during the last Session of Parliament, on account of Railway Companies, was 3,444,3061. ss. The portion of the said Money invested in Stock was 56,2001., invested in 56,8181. 3s. Bd. Three per Cent. Consols, on the 23d of April, 1845 ; an d i n Exchequer -bills as follows : I 1845 . , I February 20 February 20 1 February 22 February 24 March 12 March 15 March 13 March 15 April 1 April 1 April 5 April 22 April 26 May 8 JuLe 20 June 20 June 20 June 20 June 20 June 25 August 11 NS-A Lc • A; 7 - 1 , i