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

cases. If he and: retood the proposition or the Eight Him. Bw•otter, it was to the effect that if holders of oneslittii of the shoe es in a railway nude:- taking should, at a meeting to be advertised, corny to the conclusion that the Dill now tore Parlintneot, to authorise: their projects should be withdrawn, the Bid should nut then be allowed to be prose dell with ; but take the case of the representatives of 9.00,000/. in a railway company, would it be just or reasonable that the holders of 130,0004, which was the Afth of that sum, should be allowed to decide the fate of the undertaking. The Right Hon. Baronet had Very truly stated that the state of the law on this point was very tincertain and undefiiied, and the oppressions that parties had la en subjected to it consequence of that uncertaiety had been very great. In fact, he had a letter front one gentleinsii, whose name he ( I ,gl not think proper to mention, who had ac tions gotninenced against him which weuld invelee him. in expenses amotin:ing to 90,0001. The !louse would * a srobably have read the account of the late action of woohner v. Toby—a new trial hail been moved for and obtained, and the consequence would be that ino,t probably, for the next eighteen months or two years, the public would be left quite in the dark as to the real state of the law ost this question Under these re-olutione no Bill, either English, Irish, or Scotch, could pass. There would be power enough to carry the second reading and the Bill to the Committee, and in that time suffi cient expenses might be incurred to ruin a great • many people. Those were considerations which lie would venture to throw out for the considerati,,n of the Eight Hon. Genii• man, and he would suggest to tiim the propriety of taking step, for facilitating the winding up of railway companies, as few of the Bills had reached their second reading. The SOLICHOR-GENERAL rose to support the propositions which had been submitted by his Ri g ht H on. Friend. The first matter which they had to consider was, what were the evils which they were seeking to remedy ? The first great evil H as thet which had been alluded to by his Honourable nisei,' who lied just addressed the House, that these companies were totally new inssitutions—semething w hick had not before . 7 . existed, and therefore the law re-petting them was moat complicated. The questions of law which arose is - ere -moat embarrgyeing and clifficidt, in conse -g s.. tquence . ..r tfie extent of the transactions, and the num ber of persons eagaged in them. He found. s g '' s feet)n the atitecturnt which had been Whale to the 'liaise, tess g e setbat, the e•ailway. Bills which had b en pessed the year gfeeforis last, and last year, weuld, for their completion ; carrying into effect, require U. war's , f one liutelre4 - 1,„ millions. It was the general complaint of the crimrner -=%; • , .cial community of this country, that before these Bills could • pass into a law, and the greater proportion of capital called in, Nhelocking up of the deposits would keep out of the circula tion of the country a sum amounting to from ten to twelve millions of money. That would seriously interfere with the commercial operation. of the country, in every one of its branches. They had heard this from the Noble Lord the • Member for Liverpool, who had presented a petition contain. • ing complaints from Manchester and other parts of the country. They heard he loud complaints in the City, and in ScAland, that all commercial operations, large and small, from the • opulent banker to the small trtefesman, were depressed to an alarming degree by the want of that capital which constituted their means, and which was taken from their hands and from the country by the continued demands of further calls on these schemes. How was this to be remedied ? It had been sug gested and urged upon her Majesty's Government when this state of things was beginning to be felt, before the meeting of • Parliament, that some measures should be adopted for selecting from the numerous schemes brought under the attention of the Legislature those which might seem most necessary and reason able. He could not think that those who ,ffered that suggestion had ~ seg . g properly considered the difficulties of selecting from 500 scheme is.7 those which ought to be submitted. When they considered the numerous grounds and various ingredients which entered gA s V . "o,:g into an inquiry of that kind, as, for instance, which of the 5, projected lines was the moat direct, which passed through the most populous district - , and other investigations g e eess. WO at' ovum-it was impossible to go through all these in .. lies wiihoutlxercising all the functions delegated to Sub :-`• ~ --4 - - -e . „ Ic (. l lnlmittee - s. In-fact, it was found impossible to make such a (ection. - • All the commercial men and others who have given their attention to the subject were unable to, make any practical suggestions that the House could safely adopt. There were four distinct classes with whom they would have to deal. The first:class was the provisional committee, or directors, or the governing body. The second class was the original subscribers, who had subscribed the deed, bat had ceased to possess an interest in the project. rise third class was the holders of scrip ; and the fourth class those who had given credit to the company, and who were creditors in many cases to a large amount. They now saw the state in which they were situated. It was better that a plan should be submitted which would allow Parliament to select the best scheme, and this Bill would have that effect. As he said before, the promoters of many of those Bills were placed in great difficulty, for there was now no means of dissolving these schemes without the sanction of the original shareholders, many of whom had parted with their scrip. If there were no means of dissolving those schemes, what would be the consequence of companies dissolving thernselvei? there was a company—and he was sure a great majority of them were so—in which the ureat majority of the directors were honest, and a great majority of the shareholders were honest, where they would be willing to dissolve, they were under this difficulty, that they were not legally able to do so, for they were bound by their contract deed to carry out such works. They could not dissolve, they must proceed with the object of those deeds Or they might be proceeded against by actions in Chancery. they being bound by the various covenants into which they had entered. He could state on his own knowledge, there were many companies who were willing to give up, but for being ao bound; and they were thus compelled to go into Committee and incur great expense by employ. leg engineers and witnesses in the inquiry. During the prevalence of the wild mania of speculation, am patsies which were supposed to have immense sums of money, , 'Were projected, the untortunate speculators in which, by ven turing to purchase shares, and by paying the deposits, rendered themselves liable for the expenses, and if the Bills should pass into law to subsequent calls hereafter, and possibly to the full amount of the company, or that portion of it for which they had subscribed their names. In some 150,000/., and one company, he knew 200,000/. were paid in to the Accountant-General, and there was locked up not Only from general circulation, but beyond the reach, as the law now stood, of tho-e unfortunate persons whohad subscrib.ll it, who had no power to abolish the company, so that their money was for ever away from their hands, and was subject t.) the Act of Parliament being obtained. But it was evident that three out of four of the Bills before Parliament could not, on any reasonable foundation, hope to receive the sanction of Parliament. Even if they were well advised to stop thy were unable to do so, or to obtain their money from the Accountant-General, and in the meantime the provisional directirs, who alone bad any control over the fund so deposited, were obliged to continue their exertions in the chance of ob taining the Bill. Then, again, it was not the rejection of the Bill that would enable the company to dissolve itself, and obtain the money from the Accountant-General for distribution amongst the shareholders. The Bill might be rejected, and, although introduced into successive Parliaments, might not stand the slightest chance of success, but yet in the face of all this the promoters must go on with the project in the endeavour to get the Bill in a future session. Still the money was locked up, expenses increased, and there was no mea ns o f putt i ng an en d to t h em . Th e l aw , as his Hon. Friend stated, gave them no power to disso.ve. in the existing state of things they would have managing com mittee-men bringing actions again ;t allottees and subscribers, and allottees and subscribers against . committee-men ; hut in the present state of the be law was impossible to say whether these actions would maintainable tle or not. There could be no doubt, however, that o u ti p l o d n g t o h eon decisionbringing of actions against each other, the c o se ne lia r r e l l i y e i s ng ' Wilmer and Tobin, which he contended was no decision at all, for the learned judge pronounce e d e n te" ;i l o inio th n upon it, and what he did say was incorrectly reporteede the faith of etheeevwspapers, and the consequence was that upo n case, 300 actions were commenced by three w and the other relying upon the decision of tiswode. Thus speculation having ended in railway Spot aite eddi companies 9t alone,in the the parties commenced speculating in actions law;yatshares and really in his opinion there would be no end to the litigation and mischief. That all these evils could be re moved by Legislative measures it was i n vain to hope, but he vent ured to _ entertain a strong expec tation that if parliament hereafter adopted the Bill which would be submitted to them by Government, and in the meantime the present resolutions, the evils them selves might not indeed al to g ether be abolished, but they would at all events receive a most salutary check.--( Hear, bear.) Now, what would this Bill be ? Without p.ing into the details, he might in a few words possess the House of the sub stantial parts of the Bill. In the first place power would be given to the holders of some smal l number of shares , between the time of signing the subscription deed, and the obtaining of the Act of Parliament, through the managing committee, to call a meeting of shareholders to con sider the propriety of proceeding with the undertaking. It was proposed, that when the meeting should be convened, that proper machinery should be provided for taking by proxy, or personally, the votes of the shareholders, and if they so choose they might come to the resolution to dissolve the com pany at once, the number required to vote for that resolution being at least three-fifths of the whole. Proper provisions would also be made to enable trustees and all persons of an official cha racterto vote at such meetings, and lithe required majority came to a determinaiion at once to wind their affairs, their concern would be brought to a termination in the same manner as all partnership concerns were wound up. The directors would have power of possessing themselves of the funds of the com pany, which they would have to dispose of, in the first place, in the discharge of all ltabilities into which they had entered ; and, in the second place, they would have to pay the surplus in a fair proportion to such as were bona fide holders - of shares in the company ; and he had hopes that there would' he large surpluses in most cases. The pro posal of the Right Han. Baronet would create no new liabili ties, it would only give relief to such as were desirous to re lieve themselves from the engagements which they had entered into in a ti m e o f grea t exc .tement.—( Hear, hear.) The present proposal would involve no new difficulties ; ex penditure o i f eet was to its only object prevent the waste and useless ex t was obvio us themoney of the public in foolish undertakings. pass, aud , 41. some time must elapse before could this Bill hundred railway Riant.wae to be done with the three or four lap , e n beoewtob re ef t o h re i, P ß a i r l l l i c a , m m e i n d t, p ,i during i a h e l a f ew weeks that m ust e To let these Bill s go o at weithotit any ch ec k, wou ld be, allowing the evil to go on the pressing; but, on the other hand, of time when it was most Friem a i n , d, were they to take the course suggested by his Hon. classify Hon. Friend suggested that they should do more than these Bills ;he proposed that they should at once suspend all these Bills from further progress, pee ins of this some reasonable time should elapse for the this Bill- —(Hear, hear.) It would be better to allow ti.* meetings t o b e called at once, n and the Bills to be stopped• In the first place, before the petitions could be framed, it was necessary to have recourse to certainly . attended with some serious operati o ns, which were ,difficulty. _Most extensive interests were involved • ift7 . - "homy -of ' • these s, a p ri e d lied the to p rop relinquishrietors, " cases, 'Would be . their projects without having had any opportunity of express ingopferthbaepsse, be Bills advisable toa -; • - th'eir assent or dissent. It wo e uld e to postpone the consideration of some , • ' future period, when sufficient time might. be had for the pro prietors to decide on the course most prudent to be pursued. It • • was proposed by these resolutions , in case the co m p an y intended to be incorporated,that such meeting scrip Was constituted of persons p ro d uc i ng of this company representing one-third part of the tal proposed to be raised under this Bill, and it would appear, unless one-fifth should signify their assent, they would be overborne by the remaining shareholders. But then the Hen. Gentleman ( Mr. Bernal) asked, would they proceed on th e assent of so small a number ? To that he would reply, that by these resolutions an opportunity would be given to all the scripholders to come forwasd to express their sentiments on the subject. lf, however, four-fifths of them held back, and only one fifth came forward, that circumstance proved that it we aSt Bill W be entertained. Fe doubt owe might be • "1;*•!1;-..-.4 ~.t:6'' ;art ;• , 'w - .M"~i~ltc Fe. ,r ~- cited where four-fifths of the holders not coming forward showed an opposition on their part to the Bill, hut they would have again an spportunity of petitioning against it ; and h. was competent to the C O emittee afterwards to reject the Bill on sufficient grounds being shown why they should ct,,me to such a decision. The asseut of ones fifth went the length of inducing them to entertain the &IL When they considered that these reso:utions would operate on every Bill, and that no Bill in the present state of public feeling would be entertained without a compliance with them, he considered that the most beneficial results would be the consequence. Various objec tions were started, and one with regard to persons who had a right to interfere, but who, by these resolutions, would not be enabled to do so. It was only those who could show that they had really paid their deposit. who ought to have a voice in assent. or dissent at those meetings. It had been said that they ought not to take away the right of the original shareholders in voting at such meetings'. lie could by no merns agree to that view of the case. if they ha paid on their shares with the intention of becoming bona fide shareholders, if they had taken up their scrip with the view of b ecomin g investors in the e u n n e d e e e r s t s a f k u i l n g, or they not. The h a ve f Fact stoodfisp o by a t n he schemes th e whether successful or not. The fact of many of the original shareholders, however, havin d y sed of their g scrip, they had no interest whatever from the Act of sale. If the scheme turned out a beneficial one, it was not g e c n e e i d v e at se e y share deed who he would h ati s r i of the the e an w pr h o o fi h t, ad o s , o , l o d yt h th is of the company.—( Hear.) By parting with his scrip n otwithstanding he had forfeited all interest in the undertaking. He a greed with an lion. Member, who had spoken this even ing, that it would not be safe at the present moment to go further than to apply the resolutions proposed by his Hon. Friend to the Bills now before Parliament. Mr. L A BOUCHER E said the object of the resolutions was twofold. First, to pass a Bill to regulate and amend the Bills under which railway Companies were constituted, and by which they were carries! on ; and, secondly, to discuss the general quest ion of railway speculation. to which he should shortly devote his attention. lie heartily rejoiced that her Majesty's Government had turned their atte Aim' to a subject of such paramount importance. Any one who had the paid slightest attention to what had been going on during the period of undue speculation must have seen that the attention of the Government should be directed, and the intervention of the Legislature asked, to put an end to a state of things which were extremely prejudicial to individuals, and not creditable to the com mercial character of the country. There was only one point with reference to this subject to which he should venture to advert ; namely, what the Right Hon. Gentleman had stated with respect to reserved shares by directors of railways. He confessed he was rather surprised at the innocence of the Right Honourable Baronet on the subject, because he thought the prevalence of the practice was a matter of notoriety, and, he miAlit add, scandalous notos riety. This system of reserving shares on the part of the persons who, from their station and influence, he thought would hove been incapable of such a proceeding—this practice, hail been carried to a very great extent, and hail the effect of com,iletely deceiving the great body of the public —those persons of small property who were inveigled in shoals into these railway projects. He repeated, that by reserving these shares, which the parties either allotted to themselves or their friends, they also frequently came off scot free thenselves, and deceived those whom they hail induced to join them. He did not know whether it was possible for the Legislature to check these evils, but if the Government would, by the Bill they were about to introduce, remedy the abuses, he thought they would be accomplishing a very great advantage. These things, however, would be matter for discussion when the Bill came before them, and he should confine the few observations he had o make to the present proposi ion of the Right Hon. Baronet. He had observed, with satisfaction, a desire, on the part of the House, to give a general support to the proposition ; and, for himself, he was ready to say that he concurred in the conclusion which the Right Hon. Baronet had come to. He thought the course recommended by the Right Honourable Baronet was the hest they possibly could adopt under existing circumstances.—(Hear.) He did not mean to say, however, that it was not open to objection and inconvenience, but in the present state of things it was impossible to take a step which would not entail incon veniences of a dangerous nature upon some pat ties. All the other suggestions he had heard spoken of were surrounded with more objections than the recommendation of the Right Hon. Baronet.; and on the whole he thought it was the best they could adopt. He must say, however, that he could not agree with the opinion of the Right Honourable Baronet that this was the legitimate and proper time for bring ing this measure forward, for he recollected a speech which the Right Hors. Baronet himself made at the commencement of this session, which left an impression upon his mind 'hat the Government considered the subject, and had come to the conclusion that interference was necessary even at that time. That was the im pression on his mind, and he believed it was this impression which the public generally had after reading the s s eech itself, but more particularly the speech made at the same time by Lord Lincoln, and he thought it would have been better had they taken more decided steps then. He thought that in questions of this kind it was the duty of the Government to undertake the responsibility.—( Hear, hear. ) They ought not to wait until the public out of doors were in a complete ferment in consequence of the uncertainty of the law. —( Hear, hear.) And he therefore could not quite agree with the Right Hon. Gentleman, that he had been very felicitous in introducing his measure at this particular period. However, as it had been proposed at last, he was prepared to give it his cordial support. There was one inconvenience which would probably result from this measure—he alluded to the new companies which had lately been projected as rivals to the great independent railway companies already in existence. This measure would most probably have the effect of bringing these projects to an end, and the public would consequently be deprived of the interests which they must have received had those companies succeeded as rivals to the already existing companies, and he thought that the Government should have taken that point into their grave consideration. This, he confessed, was a very wide subject, and he would nut say whether it was an evil or a good; but he would say that it was the duty of the Government, in these matters, to protect the public interests. No doubt her Majesty's Government had taken the advice of competent parties before they had ventured to propose the present measure, and must be better informed than any Honourable Gentleman who might offer his suggestions across the table to the Members of the Govern ment. At the same time he would venture to make one or two suggestions upon this subject ; one of those suggestions was this—whether it would not be possible to propose as an alternative to the scripowners, that they should have the r wer of expressing their wishes and opi nions as to the desirableness, or otherwise, of proceeding with their hills by written communication, instead of being compelled to attend at those meetings. It was not stated when the meeting of the scripholders was to take place. Ass Irish railway company might be summoned to meet in London. With regard to the suggestion of his Hon. Friend, the Member for Weymouth, to postpone all railway business, to avoid subjecting the parties to any inconvenience or expense, until this Bill should be passed, he doubted whether any benefi cial object could be effected by such a course. The people would know the persons connects d with these companies, and would judge whether there was any pri-spect of the shareholders of the company persisting in desiring to pass the Bill; and he took it for granted thatthey would in most cases avoid passing the Bill through unnecessary stages, if it was not their intention ultimately to proceed with it. He would not trouble the House with any further ob servations, He should only state that he heartily rejoiced that her Majesty's Government had directed their attention to this important subject ; and he thought that their proposed pro ceedings would give satisfaction to the country. Mr. HUDSON said that he fully agreed with her Ma jesty's Government in the time which they had chosen for this measure, for the present time was almost the only one in which they could act effectually in this matter. He believed that if the Government had brought forward this measure at an earlier period of the session, it would not have met with the public support which it would meet with on this occasion. The measure would be placed on a sound, solid basis, for parties would seriously consider the position in which they bad placed themselves, and the consequence was that by the meetings that would take place under this measure little trouble would be given to Parliament to decide on these cases. He did not deny that during a short time there had been an excitement in the railway world, and it had arisen from the successful progress of existing companies. Every person who had considered the subject forsaw what would be the effect of the success of the present companies, and that others would attempt the like success, at, the time when the parties who had been toiling in the field for a long time began to reap the harve s t o f th e i r en d eavours . H e h ad not been unfaithful paper , ntime ou in s which he a, ien h s ad m a t d a e k e h n y t h h i t o r t () s w 11 collecting tchh o h the to the public on th a t occas i on . H e h e l d in his hand a lois m ub e l e e tin o g f attended, and in which he had cautioned them • against these wild speculations and their results. Hear, hear.) lt was of no use ; and had her ,Majesty's Government in t er f ere d at that ti me , i t would have been said they were interfering with measures for the benefit f of no o the country. It wou ld h ave b een use to tell them that thei until they h a d got certainr works sho u ld n o t commence Had he r filajesty,. Government sums of mon e y t o execute t h em. . interfered then, he was sa ti s fi e d th at they w o u ld not hav to allow it t o run on unte interfe re d success f u ll y, an d i t was b etter a stagnation of public opinion occurred. The measures now proposed would have a salutary effect. He owned that there commu nisation, a n d t h at it was w" great advant age i n ra il wa y commu but an excess of essential importance to the country, of speculation might b e i n j ur i ous . Th ere h a d b een a statement made in that House, on the authority of a person from whom, however eminent or distinguished he might be, he (Mr. Hudson) felt bound, in justice to Parliament and to the country, to differ. The statement was, that the expense of railways had inc rease d 50 per cent. He- did not agree with that statement, and he thought that nothing co uld he worse than to allow such an opinion to go f or th to the country. He would refer to a paper which he had in his pocket, which here some reference to that matter. lie hail been coenected with railways for a series of years, and of capital entrusted to him of an had the largest amount y pri p individual in t he country, but he would be ashamed of such a come forward and give such informa tionposi -*tion if he declined to reference to this subject. With as he could supply in the price of iron was 101. respect to the Midland Company, _ The sleepers were 7s. per ton at the time of its constru.ction in The and land, and everything proportion. a piece, and sleepers from 4 s. the ton, other day he bought. iron at 91. gene ral were not to 53. Land also was ch ea p er, and prices in _serva t t. ons to so excessive as in 1841 . H e had a few further ob every company He was quite sure that the directors of fc make. onsidering would give an opportunity to the shareholders o With the course proper to pursue under the circumstances. and he t to one railway with which he was connected, respect was sure that many others wou ld be similarly circumstanced, every 50/. share rose to the value of 3001., owing to the ex• ertions of a few individuals , and himself among the number, who strongly supported it He had great pleasure in support ing the resolutions. Mr. MARK PHILIPS begged to say a few words on a question that involved so much public interest. He could say it was his wish, as some interference had taken place be fore now upon this subject. At an early period of the session he was inclined to submit a motion to the Ilitu,e for taking the matter into consideration. He thought the House would of itself have taken the matter up, arid that they would have come to a resolution of not taking any lines of railwa y this session which were of a competing character. That was his view of the case ; but he was told, that if he were to bring it forward, he would most undoubtedly fail. He was certain that much capital had been absorbed in railway speculation which should have been laid out in manufacturing districts. He was of opinion that the development of the railway principle was of great public benefit.; and those who had studied that principle were persons who would have reflected honour in thu carrying of any great mercantile principle.—f Hear, hear. ) They had studied the system, and they had found a beneficial result, and they had conferred a large amount of good on their country. It was important to see that too much ca pital was not directed from the legitimate commercial trans -. actions of the country ; and while he hoped the proposed Course would not interfere with the full and fa ir develo p ment of the railway principle, which he looked upon as one of the greatest evils resulting tram undue speOn speculation. these grounds, he gave his most cordial support to the resolutions proposed. Mr. NEWDIGATE said it was a general impression that the resolutions proposed by the Right Hon. Baronet were not his own. He (Mr. Newdigate) however concurred in what had fallen from the Lion. Member for Manchester respeoticg because of the infinite rapidity with which they passed hands. He was sati=fied that the present proposal Would have the effect of more effectually preventing tricks being practised than under the present law. He wished not to impeach the privileges which these several members possessed; but he at the same time must remind the House of the peculiar position in which these members were placed. As, for instance, in the case of a large company, it was very evident that they possessed pwers to make interest in the smaller companies, by buying up their shares, and against sack reports he had no such complaints to make. Yet while saying thus much, he be lieved that the resolution was no sufficient remedy for the evil ; for it was well known that the shares changed hands with ra pidity, almost with incredible rapidity, and that consequently the danger that was to be apprehended, and the risk, of which so much had been said, was to be provided against. Mr. GISBORNE would only detain the House hut a very short time, and, in doing so, he should beg to refer to his Hon. Frrd the Member for Manchester. and the Right Hon. the Chancellor of the Exchequer. In doing so, he must say that the course which the Government had prescribed was contrary to the object which the l3ill was intended to attain. Their object evidently was to carry a restraining Bill ; but by this measure it would seem that, under the present state of the law, such a measure was impossible. He wished that the Right Hon. Baronet, the First Lord of the Treasury, would act upon the principle of the Chancellor of the Exchequer. Now how stood the case? A man was allotted 100 shares in one of these new companies, upon which he paid a deposit, of V. per share on 2001., and afterwards sold them at a premium for 700 1 . Now he was informed, at least he gathered from the newspapers, that in the event of the Government Bill not passing, the purchaser of the scrip would be at liberty to bring an action to recover back the premium he had paid, and how, let him ask, would this operate? Why, when called together under these resolutions the scripholders would say to them selves, " If we sanction the breaking up of this company we shall abandon our right to receive the premiums we paid on our shares." The SOLICITOR-GENERAL said it was quite clear that that the purchaser of scrip never could recover back the price he had paid to the original allottee. Mr. GISBORNE was glad he had called attention to this point, for it would have the effect of appeasing the public mind on the subject. Lord SANDON had but a few observations to make upon the subject of these resolutions. He confessed he had received them with most hearty satisfaction, and should give them his cordial support._( Hear, hear.) The prin ciple would be for the Committee, in deciding upon the various railway projects, te discriminate between the inde pendent lines and those which were intended to be constructed by companies already established. He should feel himself per fectly at liberty in deciding unhesitatingly in favour of those schemes which promised most fairly for the benefit of the coun try. If the House thought proper for them to be carried into effect, and that they would result in the public good, there would be no difficulty in allowing these projects to be pro ceeded with. The only other point to which he should call the attention of the House was as to the inconvenience of fixing upon the period antecedent to the third reading as a time at which these resolutions should have effect. It had been stated by those who were sensible that their Bills were not likely to be carried out, that they would not have sufficient time to canvass the feelings of their constituents, nor could they take upon themselves the responsibility of witholdieg the further progress of the Bill. He would anpeal to his Right Hon. Friend, whether parties were not at present com pelled by the sessional order of the House to go into Com mittee within a limited period from the presentation of the petition ? He thought that that sessional order should be amended in some degree, in order that the parties promoting Bills might be restrained from going into Committee. If the course he had suggested was adopted, it would facilitate the contention of many parties connected with Bills, would re move a great difficulty, and would issue in reconciling, to some extent, the conflicting interests of the railway public. Mr. WILLIAMS observed, that amongst the numerous Bills before the House, there were several which contem plated the formation of long lines of railway, and which were in possession of enormous capital: Was he to understand the en tire capital of these companies was to remain in the hands of the directors, to be disposed of at their will and caprice? The persons who had requested him to bring this question before the House were of opinion, that the class of Bills which comprised large undertakings might be dealt with in rather a more sum mary manner than Bills of this description generally before the House. Now, it was no very simple thing to make an applica tion for a Bill in the next session of Parliament. There were the details of the traffic to be gone into—the surveys must be completed—the whole of the notices must be properly served, and the estimates must be minutely calculated and fixed on. And further, by the standing orders of the House, an entirely new subscription deed must be made out. With those com panies who were compelled to wind up their affairs, by giving power to them to enable them to come before the House at any future session of Parliament, much difficulty would be created in the operation of the law, and many subsequent al terations would be required. The SOLICITOR-GENERAL said that the object of the resoluti .ns was merely to enable the parties connected with railway companies to dissolve, which was a right that they at pr, sent were not legally entitled to. But with respect to giving them power as regarded any future application to Parliament, that was a purpose not at all contemplated by the the evils of speculation. The Right Hon. Baronet appeared to him to have trusted too much to the operation of his Bid of 1844 to check this speculat:on. It had operated no d iubt with a heavy hand in interfering with speculation but that had not been sufficient, for it appeared that by the reqa rements of deposits they had given scrip a character, which Odd not belong to other kinds of commercial paper. It had been made to assume the character of money, and ex tensively empleyed in that capacity. He could see no due means of limiting railway speculation, unless all shares issued i w n e , re h i r e e h g t i s h t e e y r ed we . r and e registered—in to afford h the fact, means tom o a f k e access i t i o a r t h boo in eas u o t k r e s for the registration of rerip as had been done with respect to the money weekly issued by bankers, for it was evident that scrip partook of the nature of money, and ought to be sub jected to a similar provision. Mr. WARD agreed with his Hon. Friend (Mr. Mark Philips) that no speculation like that with respect to railways had existed in this city since the South Sea bubble and the Mississippi scheme. He also agreed with Lim that it had divert« d capital from its proper channels Persons of small means entered into this speculation to an almost incalculable extent, regardless of the consequences, and without any previous inquiry as to the feasibility of the pro jects in which they hazarded their capital—no one inquired where a railway went to—( Laughter)—or whether it was required in the district through which it was pro jected. He was sorry to say that he himself had taken a quantity, particularly in new lines. In one line with which he was connected he took a particular interest, and a number of shares, because he believed it would be remu nerative, but the very reverse had been the result. He had no objection, and he believed that none was to be found, in these resolutions. His impression, indeed, was that one-third of the shareholders would pledge themselves to move for no al'erat ion, and that that measure would give them general satisfaction ; and this impression might not be the less from the circum stance that the success of several of the schemes had laid down a rule of the expenses which they ought to bear. Yet, at the same time, it must be recollected that the companies as they new stood were unable to divest themselves of the ex penses to which they were subjected. They could not divest themselves of the expenses of the inquiry, of the employment of counsel, and of all the other incidents which were neces sary to take the means for carrying out the project, and for ;he institution of such further experiments as were necessary to confirm the validity of the project. Then as to the third resolution, he felt it necessary to ask its meaning. His impression was, that those who were in possession of the scrip ought to be considered the bonci fide proprietors. It was necessary to a-certain this point, because he believed that nine-ter.ths of the proprietors of the double schemes now in existence were quite ready to dissolve their companies since the commencement of the panic, and he would guarantee his Hon. Friend, the Member for Taunton, that no attempt would be made to reiterate the schemes of the last few years. He was no friend to partial legislation, but he believed that for the next twenty years such a lesson had been read as would a sufficient guard for the time to come. On these accounts he was quite ready to assent to the words of the resolution. Very harsh language had been used with regard to the conduct of the provisional committees and directors, but it was ad mitted on all hands that the late railway enterprise had been most useful, and that it was desirable for the interests of this country that that speculation should be carried on. The rail way directors had, to the best of their power, endeavoured to ascertain the best projects in which the money of themselves and the public could he invested, and he could not conceive bow Hon. Members could j'astly cry them down, although he must certainly admit that during the late railway mania there had been some exceptionable transactions. He could assure the Right Hon. Baronet that he laboured under an error when he conceived it to be his dm y to attack the practice of reserving shares. There might have been cases in which those shares were reserved for the purpose of fraud, but he could assure him that the number of applications in railway' projects had been so exceedingly large that it was found necessary by the direc tors to reserve the shares in the mariner which they had. Out of the 500,000 applications for shares, he was sure that the Right lion. Baronet would, had he been engaged in these rail way undertakings, have found very great difficulty in allotting shares with safety to the 40,000 that had applied. The di rectors had experienced the greatest difficulty in the proper exercise of then. duties. He could assure the Right Hon. Baronet that the greatest schemes had been used for the pur pose of deceiving the provisional committees. Forged names and false residences had been made use of in the applications for the purpose of deceiving the directors. He was perfectly new in the affair himself, and he had not the least doubt that a very great many errors had been committed in the allotment of shares in the company with which he was connected, but he certainly did, in his character of chairman of the provisional directors, reserve at least one-tenth of the shares of the com pany. Several Honourable Members of that House had found themselves involved in this railway speculation, from a desire, in common with people out of doors, to profit by it.—(Hear, hear, and laughter.) For his own part, he thought it was highly creditable for men to be concerned as directors in a re spectable railway undertaking. And of this he was confident, that these projects had had the effect of furthering the prospe rity of the counte y. He had no doubt that the share holders, in those companies that ought to be dissolved, would take the earliest opportunity of availing them selves of the advantage held out to them by the resolutions of the Right Honourable Baronet, at least to proceed with their original intentions. After what they had heard, and very truly heard, of railway speculations in the course of the summer, this proposition was only making an appeal from Philip drunk to Philip sober, and giving them an opportunity of recording their opinions. He felt that there were some objections of a smaller character, but they were doubtless considered by the framers of the Bill. He would give his support to the proposition. Mr. F. W. BARING, who was very indistinctly heard in his opening remarks, said that not the slightest objection could be urged to the proposition of the Right Hon. Baronet. It was in reality an appeal to the promoters of these schemes — it was giving them an opportunity of reconsidering their con dition—it was asking them indeed whether they were prepared. He himself would gladly give his vote for the dissolution of the company of which he was chairman. He, like several other railway directors, had been put to much expense and trouble, for which they expected no thanks. That was the benefit connected with these railway undertakings.—( Hear.) Mr. B. DENISON confessed that he originally thought that some steps ought to have been taken to put an end to the mad speculations which were convulsing the country, and which were withdrawing capital from their wholsome and natural channels. It had the effect of locking up capital, which otherwise would have been freely circulated throughout the country; but, however, he thought it was batter now to interfere than not to interfere at all. and he certainly should give his hearty concurrence to the proposition of the Right Honourable Baronet. Some Honourable Gentlemen had com plained that the contingent expenses attending the committal and second reading of the Bill would be still increased, but he for one could not see how they could be. Parties might avail themselves of the resolutions within ten days from the present time, and if they did not meet with sufficient en couragement they might abandon the Bill alto gether. There was another point to which he wished to call the attention of the Right Hon. Baronet, who, in the course of his speech made an allusion to a recent statement made by Mr. Brunel, as to the cost of making railways. The Hon. Member for Sunderland had answered that statement, but had he not, he should have felt it to be his duty to state, that he had put himself in communication with parties who were in the habit of contracting for the construction of railways, who told him that Mr. Brunel's statement was a most extravagant and in cautious one. He believed there was no doubt that a railway could be made at very little additional cost to what it would have taken lately.—( Hear.) The Right Hen. Baronet, in the course of his speech, referred to a letter relating to the London and York Railway, and seemed to do so with a view of convincing the House that the directors of the company were disposed to break up the company. Sir ROBERT PEEP,—No. no. Mr. BECKET T DENISON said he knew instances in which competing companies were buying up shares of the rival lines, for the purpose of obtaining a majority in the meetings proposed to be held under the provisions of the pro posed Act. It was in the case of the London aed York Rail way. The Eastern Counties Company, of which- the Hon. timber for Sheffield was one of the directors, were'doing so at the present moment ; and he thouelit that was conduct which one company should not pursue towards another. For his own part he would not do so; he did not possess much in terest in that railway—he held but twenty shares in it—he supported it upon public grounds, and with a desire to obtain the best mode of communication between London and York; he had no fear as to the ultimate success of that line, in spite of all that oppoaition.—( Hear, hear.) He thought the proposed Bill would give to competing lines advantages which might be unfairly used against rival companies, and enable them to burke their competitors. Existing companies would have a very decided advantage over those who were mere promoters of lines, and he considered that no person should he allowed to vote at these meetings who was not a holder of serip on the 4th of April last, which was the time when the first notice was given of their intentions. The House was aware that when a motion was on the paper which was not agreeable to parties, those opposing it refused to come into the House in order that there might be an adjournment. This would be precisely the mode adopted by those opposing a line or wishing for its dissolution. If he would permit the meeting to consist of one-fifth of the whole shareholders in the first instance, instead of three-fifths of the amount as pro posed, it would be a simpler arrangement, and collect the opinions of the shareholders much more effectively. Parliament, if it could set its face against this undue specula tion, it ought to do so. He was applied to repeatedly to be come a provisional committee-man, but he invariably refused to do so. During the whole course of the autumn, when the railway mania prevailed to its greatest extent, he actually trembled at the extent of this speculation, and en account of its consequences; and he advised his friends to abstain from speculating in railways. The CHANCELLOR of the EXCHEQUER said there seemed so general a concurrence in the resolutions proposed by the Government, that it would be unnecessary for him to ad dress the House at any length with respect to them ; but as certain objections had been taken as to the course of the Government, he should make one or two observations in reply to them. It had been, in the first instance, stated that j t twtc h ahinoat e euins,l iaGdcnorivnreierrn,ai which oww e a n asy t s m i,nm ig it h use t stl h f ave interfered at an earlier period with respect to th ose pro j ects , and more di rect l y th an th e y had now n done. Ev er y one w h o h a d watche d t h e progress o f t h e specu bpereagwnaarnet witht a considerable t e eztent to danger whic h to commercial to s uh discourage etaegme was,paeii h r t o he f o t s h e e o c no certainlyuwn t h r o y dmi and hue set hallopl aced thought g the e i he n means the ha i s i t anye he e influence from embarking in those speculations, or giving their countenance to them ; but it appeared to him that it would reach to an extent which Parliament could not possibly f orese e. It is true they might, by the adoption of arbitrary measures, have materially reduced this speculation, by only al lowing the introduction of Bills required by the wants of the country ; but then the difficulty of selecting those which should be proceeded with and thosewhichhyshthoue Hon. Memberldbewithdr nr aw i n. The difficulty o f this was foreseen competing lines from Parliament , with drawal of all difficulties, account of the selection Manchester (Mr. Mark Philips), who suggested hnt t t h h e atw a attended with enor mous Sunderland (Mr. This opinion was also expressed by t Hudson), which was no doubt in the recollectio n of the House. which they thought it advisable to pursue, was The only course and the arbitrary nature u r u e o n the Ale m c ° b lu e ' rf rs ° or the danger of these spe culations. That period at lengt h arrived, and the public now to allow the public mind to c ool a little, and that there should be some sense in the public m ind of saw the danger of these speculations and the responsibility attached to them. They had, by the delay in bringiegl for ward this motion, gained the concurrence of the Hon. Mem ber for Sunderland. which, if they had brought forward such a Bill before now, they would not have gained. It was s -id that they had done wrong by not having legislated for this before such Bills as these went into Committee, and saved such parties expense. But this could not have been done, There had been a Bill progressing in the other House which effected the whole question. If the assent was given to the third reading of the Bill by the proper constituency, there would be no further interposition between the third reading of the Bill His Hon. Friend behind him had said that a check should be put upon those who had purchased scrip on these inchoate railways, because if that was nut allowed, those great railway companies, whose interests might be furthered by the dissolution of several of the present railway pro jects, might, before the proposed meetings were called, purchase shares in those companies, for the express purpose of enabling them to vote for their dissolution, and thus removing rival companies out of their way ; but his Hon. Priced should recollect that it was impossible to impose such a check, because they could not ascertain at what period these scrip were issued Bill. Mr. WILLIAMS again urged that power had been taken by the managing directors to take the control of the capital into their own hands, and they had retained this immense amount of money to proceed with their Bills at any future session; and there were no legal means by which the share holders could compel the managing directors to wind up. The directors had the power of adding to their number, and conse quently of increasing their influence. He had, therefore, hoped that the Hon. and Learned Gentleman would take into his consideration the position of parties connected with projects to be carried on to a future session. They were placed in a worse position than those who had Bills already before the House. The SOLICITOR-GENERAL observed that it was one of the especial objects of the Bill to provide for that class of cases which had been alluded to by the Hon. Gentleman oppo site. That power would be given to a certain number of shareholders in the undertaking. which would render it compul sory in them to wind up the affairs of the company. Mr. COLLETT was much oblipul to her Majesty's Soli citor-General for having explained various points in the reso lutions before the House. He considered that the directors of many of these schemes had been very ill-treated—they had been subjected to a deal of hard work, were exposed to misrepre sentation and insinuations of various kinds, and yet they were bound by their position to retain the original amount of the shares which they had. With respect to the third reading, he really thought, that before any progress was made in railway Bills, that some regulation should be adopted to prevent the further carrying on of those schemes before they arrived at that period. He would only say, with respect to the estimates of the construction of the lines, there was no increase what ever in the price of the materials. There was only a slight increase in the price of labour, and a trifling increase in the cost of conveyance. He firmly believed that contracts could be performed at a lower rate during the present year, than they could have been done during the last year, or any previous year. The Hon. Gentleman concluded by expressing a hope, that the powers of the different companies might still be continued in the hands of the directors for the purpose of winding up the undertaking. The SOLICITOR-GENERAL said it was the intention c.l the Bill to enable the shareholders to bring before the directors in as unanimous a manner as possible, their wishes as to whether the Bill should be proceeded with or not. He thought that, considering the importance of the question, there could be no objection to relieve the directors of a portion of the responsibilities by throwing the onus on the shoulders of the shareholders. Mr. O'CONNELL was grieved to confess that the Right Hon. Baronet had made out a complete ease for this House. What was the effect of these resolutions? They raised a numer ous array of other questious, and would lead to no end of com plicated litigation. He did not know a worse tribunal to dis cuss a question of this nature than a House of Commons. They diminished a number of railway schemes, but then the number of Bills was increased. They should have something like a railway at home. They ought to have a rail way judge, and to him should be committed the care of these matters. Let it not be considered that the appointment of such a tribunal would be extraordinary. They had separate judges in different departments of law. There were ecclesi astical judges, judges in the civil courts—and there were even registration judges—then why not a railway judge and a rail way court? The Hon. Solicitor-General had told the House distinctly that the power of dissolution was compulsory. Now how was it to be made compulsory ? An Act of Parliament could not be considered compulsory in questions of this kind, because the utmost they could do would be to levy a fine, and it would be difficult to enforce those fines. They ought, then, to have a railway court and a railway judge. Take from the bar one of those gentlemen who by their attainments and their experience are entitled to the confidence of the public, and make him a railway judge. It might be said that the ne cessity for such a judge might not exist for more than two or three years. Well, then, the exrense of the experi ment would .be diminished. The confidence which would result from the present state of the administration of railway affairs would be, that one would apply to one court, and another go to another tribunal, so that the litigation on these matters would be greatly extended and greatly amplified. He would submit to the consideration of the Government whether these difficulties would not be obviated if such a court as he had suggested was appointed. The thing itself was a novelty. Those railways destroyed the whole common law with respect to public ways. The public ways were understood to be the property of the public, but since the railways came into opera tion there was no such thing as the public claim being recog nised. He therefore suggested the propriety of having these matters investigated by a railway judge. After a few words from Mr. PACKE, Mr. MILNER GIBSON wished to ask a question of the Id a sllhoanre.hSooldliecritowr-hGo ehnaedralp.urnHheaswedanstnerdiptoinkntohwe mwahrektheters,hninf attend a meeting, and sign a petition, his position would be altered, so as to render him liable to come under the same pro visions as those to which the original allottee was liable? The answe r of the Solicitor-General did not reach the Gallery. Mr. BARKER wished to know whether the scrip- H w o u n . Friend n . greatly the holders who signed the requisition that a project should be which were founded on a carried through did not place themselves in the position of ori ginal shareholders? The SOLICITOR. GENERAL td said ea d t id t o h ind a ; t ntaohnteddpehoseiinr could o w utl a od s d t ni h . os e t. T os i t N a c n K zio s u ai s d co th ns a i sgCti answer r u h o ot u i L or j s r d s ac d r o g a td urn e t i c d otG to tfa i h f r o t. rational t B iieEonfNr present.most railwaya speculation.,,i , but His he measures tending to apprebationt f e the conduct of rejoiced to G se e e o t r h g e e speculations t o h d f e t h e e x i c r e ss of rob t' Sunderland had expressed his Member for her Majesty ' s Government in this rnatter,but he Beutinck) could not concur in thmatanapp con duct. The Right Hon. Gentle Exchequer had drawn the distinction between Chancellor of the and the people sober; but he (L ord G.e the people drunk ask whether her Majesty's Government had not begged to share in making the people drunk onad not had a great to the year 1844 the excess of railway railway speculation ? Up by the necessity that existed of makingsapedculation was checked on the shares. That was a wholesome of 10 per cent. speculation, and had the eff ect of restricthas on wild venti schemes. In the year 1844 her Majesty's irroeverntnent re ng bubble the deposit from 10 p er cent. p e r share toduced and that reduction tended ver y muc h to encourages per cent., specu lations in railway m atters. But th is was not a wild money market was eas y in the year 1845, those Whilst the o n railways rose to a still greater hei ght. It speculations rule at a Board , at the head of which s at a noblemanwan established of power. ful understanding, and a perfect man of business—he Lord Dalhousie, the Chairman of the Bo meant number of competing • Board of Trade—to dis courage the num • lines already in the market. The Government did not endeavour to back the B m oa a r r d et i Trade, but on the contrary. The Right Hon. o Gentleman at the head o f the Government stated in that House, tha t it t t it could not be endured that large towns should not have the shortest and most direct railway What was this but an encouragement to thi s s or t and an inducemen t to set a p lines in oppoQit iothe old exist ing lines of railway? It was in that the railway speculation originated. Th e Ri ght Hon. Gentle man was not conte nt with increasing these railway schemes in this manner, but he also stated that it was not to be endured that such towns as Manchester, Liverpool, and Birmingham should have to send ten or twelve miles round. When the Hon. Gentleman encouraged these schemes in this way, no person could be_surprised that the public entered into these TME SUN, g4ONDON, FRIDAY EVENING APRIL 24, i 846. ei sd uHsteuetmxi: speculations, but not only did he encourage them in this way, the Right Hon. Gentleman consented to be the hero of the silver trowel ank the mahogany wheelbarrow.—(Loud laugh ter.) So much was the support of these speculations attributed to the Hon. Gentleman, that in the town of Burton, in the neighbourhood of Tamn orth, there were no less than eleven competing railway schemes got up by enterprising specula tors.—( Laughter.) Mr. CARDWELL said that he would be excused for not feeling with the Noble Lord in the allusions which he had jnst made, but as one observation he had made partook very largely of matter of fact, he (Mr. Cardwell) would take the liberty of stating his opinions with regard to the important statement with w hich the Noble Lord had commenced his speech. The Noble Lord said that the Chancellor of the Exchequer had spoken of the people drunk and the people sober, and that if the people were drunk, her Majesty's Government had made them drunk by the alteration which had taken place in the rate per cent. with regard to the deposits. If the Govern ment made the people drunk, and caused their speculations in these railways by that circumstance, he would add that it was in the year 1844 that trade was not in a good condition, and that the money market was not flourishing. In the year 1844 also matters began to mend, and railway speculations began to increase. If her Majesty's Government caused this increase, it was because they improved the state of trade, and rendered washis ownnot inference. his more easy the state of the money market, and that improved (Mr. cdnoai C ,fdt i a of r nnr d oo w wm e a l state was the cause of the evil complained of. The statement stl one-tenthh'hsaii ) st. k b isp u tt esta t hrtheat height, i eegenthnhttt_ the Noble Noble oaanNnn dodLtbhtolhheer the rule i n ' ri, s ( u, money nrei w ce, i t h .yt ohv would d oaon r ur e bdli w dni Card well) now defied the Noble L ,rd to deny the correctness of his deny that in September and October last the railway force was, that previous to the presenting of any petition for a r m a a il n w ia ay, or the in subscribed should be deposited in the Court of Chancery. If the intoxication continued at its height, with the necessary deposit of 10 per cent., how could the absence of 10 per cent. have caused it, and therefore hew could the Government have given rise to this speculation ? Mr. HODGSON did not agree with the opinion of the Hon. Gentleman who had just spoken. During the period of de pression which preceded the ye 'r 1844 it was difficult to obtain cent. was enforced; but in the year 1 8 44 , when trade was good money to promote these railways, and the deposit of 10 per and money became plentiful—at the very period when it would be necessary to continue the restriction—Mr. Gladstone re duced the deposit to 5 per cent. When, however, during the summer, speculation rose to a great height again, the 10 per cent. was forced to be re-introduced. _ _. Mr. T. S. DUN COM BE said that he thought that Govern ment was not most to blame with reference to this question. He did not think the Government responsible for the specula tion in August last, and before he sat down he should be able to prove that the mania was produced by persons not connected With her Majesty's Government; but he wished he could say that they were equally unconnected with the Howes 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 opinions of the present scriptiolders of companies. The Right Hen. Baronet, in his statement that evening said, that circumstances had changed since the introduction of theca projects, but the Right Hon. Baronet must know very little on the subject if he supposed that the parties now holding scrip were the original parties who embarked in November last. He knew it was a fact—and it did look suspicious—that many of the original parties were members of the Stock Ex change ; and he felt that the House was not going far enough. The Right Hon Baronet read a letter to the House, which he stated had shocked him terribly. An Hon. Member had remarked that it showed the innocence of the Right Hon. Baronet in being shocked at that letter. The document was in reference to the practice of rigging the mar ket, and that system was known to every man, woman, and child last Christmas. If the Government was so shocked by that letter, what were they about to do? Were they going to 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 bowl fide—if it was for the public good, and not for speculative pur poses. He should propose a preliminary inquiry nn the part of the Committee to which it misht 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 share. 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 Honourables. It was an advertise ment of the Direct Manchester, and Northern Railway. He had been looking for the Bill amongst the Committees, but could not find it. There were no less than 172 provisional com mittee-men on it, and he should like to see how many shores 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. Alembera 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 previsional 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 he sought to obtain. When the shareholders now sought for information respecting the funds of the com pany, or the mode of applic a tion, 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 depo s it necessar y for co m pli anc e 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 deposits paid, then he ad vanced the balance to complt 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 immediately paid back to the party who advanced it ; if the Bill was carried, the same was done; while the shareholder, who had been led to believe that a sufficient deposit had been paid up to meet the standing orders, found out the mistake by the calls that were immediately made to make up the deficiency. The greatest and merest bubble might go before Parliament under this mode of raising the 10 per cent. deposits, in order to comply with the standing orders of the House of Lords. Another resolution he meant to propose called upon the projectors of those companies who went before Committees of that House to give an explanation, not only of the amount of deposit paid up, but also of the source from whence they intended to raise the 5 per cent. additional to meet the House of Lords. He hoped these resolutions, which he would hereafter submit, would meet the support of the House, 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 t resolutions :t he b f : ll a o n wi i n n g eructionto : 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. " 1. A copy of the original return made for the purpose! of provisional registration with the names of the promoters as then registered. "2. The names, residences, and descriptions of the present and past provisional directors, treasurers, solicitors, secretary, and other officer, if any. " 3. The present and proposed amount of the capital of the company. " 4. The number of shares, and the amount of each share. 4 . .5. The number of shares actually allott e d, w ith t h e names , residences, and descriptions of the ori g i na l a ll o tt ees , an d the number of shares allotted to each. " 6. The amount of subscriptions paid up by such original allottees. " 7. The amount of shares retained by o r f or th e p rov i s i ona l committee. " f . 3. The amount of subscriptions a c t ua lly p a id u p by suc h provisional. committee upon the shares originally allotted to them. "9. The original subscribers' agreement, signed by the allottees. " 10. A statement of the amount of money in hand, toge ther with an abstract of all receipts and expenditure up to the presentation of the petition for the Bill. " 11. A statement of the source whence the Parliamentary deposit was paid, or whether a declaration was made of a surplus revenue instead of a deposit. " And that the Committee report specially on each of the foregoing particulars." Mr. MONCKTON MILNES said that he had remarked nn a former occasion that many of the railway companies proposed would not admit of examination. Although the in quiries sought by the Hon. Member for Finsbury (Mr. Dun combe) might be very amusing, and the mysteries of Carl court might serve the " Mysteries of Paris," still he did not think they were necessary for any practical purpose.—( Hear, hear. ) The Hon. Gentleman had omitted the interest of the public in the matter. They had got before them a greater amount of railway business than they would ever have again, and he should regret their carrying any resolutions that would deprive the measure abefore the House being as fully and largely considered as possible. If submitted to the probing and flee I investigation of the House, he was persuaded that the best lines would be carried into effect. He did trust no resolution of the House would be agreed to that would prevent the present schemes from being investigated before Committees of the House. Mr. DISRAELI said he could not but believe the discus sion in which they were engaged was one of considerable im portance. He thought the resolutions of the Hon. Alember for Finsbury contained a great deal of good sense, and while he considered so, he was not opposed to the resolutions pro posed by her Majesty's Government. Still, he could not but think they should have been proposed at an earlier period. Why at so late a time offer such considerations, whether from the Opposition or the Governmen t ?—( Hear, hear.) Ail ac knowledge the mischief done, and all are now ready to propose a remedy. —( Hear, hear.) On e thing was certain, ill parties, however unequal to the occasion, admited that something was required ; and he could not conceive that Government, however anxious-to free industry, or facilitate the application of capital, had acted as well as a neighbouring country, who had not the character either in the amount of its capital, or the character sf its labour, that this country had. He might name France, :or instance, where complaints had been made of the great Lela: which had taken place in the granting of railway projects, though he believed no complaint was now made. And while no complaint was made of the tardiness of France, there was great complaint respecting the swiftness of interference in England. In France, he admitted, they were benefited in this respect by the Government, but in England they were not so benefited.—(Hear, hear.) The Government were now seeking to interfere with capital and labour. In fact, to carry out the principle of protection, while on other questions they professed themselves against all such inteference with the ap plication of capital or the employment of labour.—(Hear, sear.) 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 he qualification on Railway Bills, showing that they enter tained no definite opinion as to the course which should be taken. He quite agreed with the Hon. Member for Finsbury in the expression of opinion which he had made, and which was generally entertained in the country, that the deposit of 51, per cent., or double that amount, in compliance with the standing orders, was equally inefficacious. How little had the Government done to meet this state of things, having com menced in wavering and uncertainty, and having twice changed the qualification. The qualification made eighteen months ago was changed to what was considered one 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 circum.tances 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 a which e hisbe height Hon. of Friendtbe railwaythe in Secretary ania . o f t l h n e d Treasurydescribed th i e Right Hon. B aronet, i n investing himself with the railway paraphernalia, and giving effect to the occasion on which he made his appeara nce , gave an impetus speculationto of Mr that . pe Disraeli) rf 0 r h ina a d it c e in e co vi u d l e d neeof the effect as his e powerad papers to give deny. He( his possession which, as he h a d not i nten d e d to alludetotre 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; neitherthe House nor the country could do so. —(Hear, near.) 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, and lead to public disgrace.—(Loud cries of " Hear, hear.") It was the duty of the Government to guard tne tone of the public mind, and to watch and direct the public fortunes.—(Hear, hear.) But the system which had hitherto gained such favour, that of leaving everything to take care of itself, to follow its own course, whatever might be the effect on the condition of the people or the interests of the country—this system was the fashionable system of political economy, which, however lauded, in his opinion led only to ruin and degradation.—(Hear, hear.) However, after what had been said on other questions in reference to this principle, he asked them how they could, in agreement with it, come forward and ask for that interfer ence with the investment and application of capital and labour which the adoption of the resolutions implied? Why depart from that course which had been so much lauded in reference to other questions? So long as the people were employed—so long as they were employed by these railways—by the Trent Valley railway and others of its class—so long as the people were so employed, the Ministry expected that they would sym pathise with the philanthropic Government.—( Cheers.) But now the thing was found out I The senators were discovered to be stags— (Laughter and cheers)—and the people were looking up the losses they had sacrificed at the shrine of philosophy. They were beginning to find out that it was all humbug.—( Laughter.) They were now discovering that after all they must fall back on the old system. —( Cheers ) Honourable Members had often charged the party with which he was connected with unnecessarily delay int, the business of the country.—(Cheers.) Honourable Members then seemed to forget the saying of one of the greatest men of modern times—the saying of Frederick the Great, " That he who gained time, gained everything." They had opposed the measures of the Government, because they did not consider that they were advantageous to the country. They had opposed the Right Hon. Baronet's measures—he who cut the first sad of the Trent Valley Railway.—(Cheers and laughter.) They opposed a minister whi) 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 hao 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 policy with regard to this subject. 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 interferkg with vested capital, but to enable parties to withdraw from proceedings which would he unprofitable to themselves and disastrous to the country.—( Hear, hear.) The Noble Lord and the Hon. Member who had last spoken had, he thought, adopted an ingenious course—more particularly ingenious as they were each recognised as the head of a great and patriotic party.—(Cheers.) They used to be loud in praises of the Ministry, and it was only 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. He 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. The SPEAKER then read the resolutions proposed by Sir R. Peel, which were agreed to. Mr. T. DUNCOMBE then moved the resolutions which will be found in his speech. On the 10th resolution being read, Sir G. CLERK said he did not see how the amount of the liabilities of companies could be ascertained. Mr. DUNCOMBE said he would be sorry to admit any -unjust details in any statement of the affairs of a company; all he required was that there should be laid before the Committee an estimate, stating the amount of money in hand, and the liabilities of the company, which every company ought to be aware of. Suppose the case of a shareholder; before he will enter into an engagement, he will naturally say to th e committee of management, what money have y ou in hand? W h y, we have so much, will be the answer. Well, then, his neat ques tion would be, what are the liabilities of the company ? Surely the committee should be able to give some estimate of their amount, and be able to say what persons were those who had claims upon them. Mr. HODGSON said he should vote against the resolution, as he was quite positive that the company would be utterly un able to give anything like an accurate estimate, and an inac curate might lead to more evils than none at all. Mr. HUDSON said that, from his experience, he could state that it would be impossible for any company to give an estimate of their liabilities ; nor did he think such an estimate would tend to any useful purpose. How could it be 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 received.—( Hear. ) I 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 most materially. Colonel SIBTHORP said he would enter his protest against the Government doing that at the eleventh hour which they should have done at the first. After a few words from Sir G. CLERK, Mr. W. R. COLLETT said that he considered the resolu tion was most inquisitorial ; and after the many sufferings which provisional committee-men had already experienced, he thought it somewhat unjust.—( Hear, hear.) He did not know what the public could have to do with either the names or the amount subscribed by the provisional committee-men, and as many of them had come forwarded, in the hope of benefiting not themselves, but the towns, cities, villages or counties with which they were connected, it was too bad to hold them up now to the world as parties unworthy of the confidence of their fellow men. The Hon. Member for Finsbury, he had no doubt whatever, was actuated by none other but honest motives, but he put it to the Hon. Gentleman whether, after the severe suffering , provisional committee-men hail encountered, it was fair to publish their names in the man ner proposed by this resolution.—( Hear, hear. ) The CHANCELLOR of the EXCHEQUER apprehended that the Hon. Member for Finsbury did not require t he names, but only the amounts subscribed collectively by the provisional committee. Mr. DUNCOMBE said that was allhe wanted. The resolution was then agreed to, as was also No. 9. On No. 10 being proposed. herds it was Hot rig o " and of the liabilities" on the ground that b .. . 0. Mr. WARBURTON was understood to object to the . ask old established companies to disclose theirliailwte struck After a short discussion the objectionable words out, and the resolution, as amended, agreed On No. 10 being proposed, . d establish d e t alicompes, apply to the Bills promote 3 would not all, but merely certified that they Mr. WARBURTON said this resoblution in its presen m for they paid no deposits at had sufficient funds in hand to enable them to carry out the proposed undert akin g . Mr. HUDSON said the Hon. Gentleman was quite right. Many companies were seeking for powers to construct works in accordance with the provisions of their existing Act of Parlia• ment, defraying the expense of them DUt of their Aurplu capital. Ai% RICARDO remarked that there weie many companies not in so fortunate a position as to hsse surphts capital, - and in such a case as that it would be desirable to know' how the funds were raised. _ _ _ Sir R. PEEL said the resolution simply called for the source whence the deposits were obtained, and he thought the:objections 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 cowponies had an undue advantage over the new companies ; for while the latter where required to deposit ten per cent., the former only furnished a certificate signed by the secretary, to the effect that they had sufficient funds to carry out the project. Mr. T. DiIIiCOMBE said he had no objection to omit the words suggested by the Right Hon. Baronet. The resolution was agreed to as amended. Mr. W. COLLETT, having in a few observations, which were indistinctly heard in the reporters' gallery, condemned the inquisitorial character of the course proposed by the Govern. men The twelfth resolution wag put and agreed to. NOTICES OF MOTION.—FEES OF COURTS OF LAW. Mr. THORNLEY gave notice that he should, on Thurs day, thz 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 wished to ask the Right Hon. Baronet if it was true that the Austrian Government had addressed any note to the British, or any other European Court, denying this statement ; and if there had been any such note so addressed, whether there would be any object 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. .MILN Eli 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 Board of Trade, respecting a reduction on the duty on tea. He thought that it was desirable that the attention of the House should be called to the enormous duty at present payable years. That articlo the ha nds n o o n t The increase in the consumption of that article had . proportion a t with e present 11 1. rs subject e i . c c l t es t o o consumption.fahighehigher d uty The increased in increase had only been 1,796 0001bs during the last five a cent . was wdasut than had been paid for s the en rd c s t o fthtihrteyEnarstfolrntydiayecarosta. Company y h a e n n the tea trade was i n present ad vabrem duty of 100 lied, monopoly was done away , ranged from 150 to 209 per cent. If the y trade imposed; t: when that in the hands of the East India Company, the duty, at Yostead of being 2s. 2 1 4 1, would not be more than 10d. or Is. The imposition of that high duty prevented the people of this country from enjoying an article whibh all the friends of tem perance and sobriety would, wish to see extensively used. The trade with China was carried on almost exclusively by barter. This country must therefore take the goods of China in return for manufactures exported to that country. It was impossible, with the present amount of duty, to increase the exports 'of this country to any great extent. It was impossible to increase ths'. 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 rras no duty. In Holland the duty ranged from ILI to 4d. Ev,Ji in our colonies the duty was moderate. In Australia the duty was ten per cent., in Newfoundland it was Is. 3d. per pound, and in Guernsey it was nothing. In Australia the price to the consumer was from Is. 3d. to Is. 6d. per pound, but the best result for him to mention was the amoun , 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 lb.. per head, and in Guernsey it was about the same. He thought they might with safety try an experiment in a redaction of the duty on tea. It muft be recollected that any increase in the consump tion of tea would cause a large increase lin the consumption of sugar. For every round of tea consumed five pounds of sugar were us€^ll. 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 Presiden t . of the Board of Trade, ;waving for a reduction in the duty on tea. 111 r. AIOFFATT rose to second the motion. This mitt subject of vast importance as affecting our commerce with fl( East. The great complaint of the Chinese was that so mutt' of their specie was sea to this country. The exports fro* ' Great Britain to China in 1844 amounted to 8,871,0001., while the imports were only 4,379,0001. We also imported 3,400,000 r. in specie from China in that. time. The Hon. Gentlemen went into a variety of details, for the purpose of showing that by the reduction made in coffee and sugar the revenue in creased, while the public derived the advantage of having those commodities at a considerably reduced price. He saw no rea son, theretore, why tea should not be dealt with in a similar manner, as he felt quite assured that an immensely increased consumption must be the result, while, at the same time, the revenue would sustain no diminution.—(Hear.) All our large exports of woollen goods . to China ;brought no benefit to the trade of that country ; consequently the importa tion of that article was now very much reduced. We charged from one hundred to three hundred per cent. on the importa tions from China, and our exportations to that country were only charged at three per cent. The rates of duty on French goods were reduced, and why were not the duties on the im portations from China, reduced in equal ratio ? This he con sidered was the policy which ought to be adopted. The CHANCELLOR of the EXCHEQUER said, in answer to the 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) bad received a deputation, who declared, that if the duty on the exports from China were not reduced, they could not curry on their trade. He bad had many opportunities during 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 ; avd when he came to lay upon the table a memorial he had received upon the subject, be believed it would be better understood. Mr. J. A. SMITH should trouble the House with a fever observations upon this subject, which he looked upon as one of the most important that could be brought under its consi deration. He did not consider that the statement made by the Right Honourable Gentleman opposite, was at all inconsistent with that of his Honourable Friend near him. He assured Hon. Members that there need be, and was, no limit to our trade with China, but unless some change took place the trade could not increase but decrease. He had no wish to detain the House after the long and tedious debate, and he would conclude by recommending a total change of commercial policy in the trade with China. Mr. ENTWISLE regretted that an article so generally consumed in England should be so much restricted by heavy duties which were so contrived that the heaviest duty fell on the lowest priced teas. There could be no limit to the advantage that could be derived by the establishment of a trade with China, so as to give them a larger proportion of our manu factured goods in exchange for their produce. There ought to be some better systemot 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 vi as then agreed to. PROTECTION AND RELIEF OF EJECTED TENANTS IN IRELAND. Mr. S. CRAWFORD obtained leave to bring in a Bill for the protection and tel , ef 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 Com - mittee. The other orders of the day were then disposed of, and the House adjourned at a Quarter to One o'clock. PARLIAYI TA RV BUSINESS. (From the Voles and Proceedings rt - the House of Commons. THURSDAY, APRIL 23. The following Railway Bill waz4 withdra wn: — Great Southern and Western Exten;lon (Carlow to SilkennY)• SECOND READINGS OF R A LLWAY BILLS. MONDAY, AP laL 27. : Forth and Clyde Junction. Scottish Central and Caledonian Junction. Oldham, Manchester, Liverpool, and Birkenhead Junction. Sheffield, l i s e h r to a n n - d un ß der l l a y y ne, and Manchester (Whaley Bridge Hayflild Branches). Ipswich and Bury St. Edmund's (Extension to Ely, with a Brands therefrom). London and Birmingham (Weedon and Northampton). West Cornwall. Oxford, Worcester, and Wolverhampton. Wilts, Somerset, and Weymouth. South Devon (No. 2—Amendment and Branches). Midland (Clay Cross to Newark). REPORT FROM THE SELECT COMMITTEE ON GROUP (Ng; 20) OF RAILWAY BILLS. :MITCHAM AND SOUTH-WESTERN BILL. Kr. Sotheron reported from the Select Committee en Group (No. 20) of Railway Bills, to whom several petitions against the Bills comprised in the said group were referred, That in the case of the Mitcham and South-Western Railway Bill they had heard counsel iu support of several of the said petitions, and had also heard counsel in favour of the Bill, and that they had examined into the allegations contained in the Preamble of the Bill, but that the same had not been proved to their satisfaction. REPORT FROM THE SELECT COMMITTEE ON GROUP (:Cpl 19) OF RAILWAYS. EXETER, TOPSIIAM, AND EXMOUTH BILL. Lord Harry Vane reported from the Select Committee on Group (No. 19) of Railway Bills, to whom several petitions against the Bills oompriscd in the said group were referred, That in the case et the Exeter, Topsham, and Exmouth Railway Bill they had heard counsel in support of several of the said petitions, and had also heard counsel in favour of the Bill, and that they had examined into the allegations contained in the Preamble of the Bill, but the flame 4 " not been proved to their satisfactiwn. STANDING ORDERS' COMMITTEES. HOUSE. OF LORDS. Their Lordships met this day, for the first time since the in East con. er recess, for the dispatch of public bus iness. The Committee, sequence of Lord Da:hr,usle's motion. came to the determination of adjourning all the Railway Bills which came before them on second referene^ Monday next. Amongst the Bills so adjourned were the following —Londonderry and Enniskillen Exteroion Railway— Wateribrd, Wexford, Wicklow, and land;ailwhu ay—D ries üblin and KiiKstown Extension Itailway—ClonmelT Railway— Limerick, Eimis, and Ki Junaion Railway—Great. Southern and Wezitern (Ireland) —Cork Extension—Mallow and Fermoy Railway—Killarney Junction Railway—Mount Alellick Jutle. lion Railway—Larne, Belfast, -- and Ballymena Railway—Air. m ena and liallymoneyr Rail ay u:ui Omagh, Dungam worksailway—The Newry, Warr esu;te:t ion, k rmaea, alelG+st Junction Railway hill. ent tllr • en.'ll dens, a nd also V:, the Standing Or. MORTALITY OF TII F. i'.fitoroLlS.—The total numbef of deaths registered in the - metropo li s dur i ng t h e wee k e nding April 18, 18-16, is 967 ; of these 30 are deaths from violence. The number of de a th s ( except f rom v i o l ence ) during the week, amount theref ore to 939, showing an an increase on the week preceding of 107—the number of death_s_f_pmAd igbreat in e . the week ending llth April, having been 63.1 from dise . ase of the increase has taken place in the . de_ respiratory . organs; in the in the week preceding, to 0. 0n1y... `1 th Chairman of the Excise had The Bishop of Carlisle and . of the F , chequer yesterday. . ncehor iuterviews with the cha . . t view with the Earl of Dal. • AI P, had an in er Mr. Denrlon, • last. eentsleyamounted to 318, housie yesterdarat the office of the Board, of Trade. I C