The Sun. — London, England, 1861-06-08 00:00:00

MONEY MARKET AND CITY NEWS. CITY, Two O'CLOCK. The Bank of England return completed to the sth inst., is of an unfavourable character. Owing to the remittances of 'specie to New York there is a decrease of about a quarter of a million in the stock of the precious metals ; the reserve of notes also S hows a diminution of three quarters of a million !terling. The increased demand for money is shown In the addition that has been made to the other tiecurities amounting to a quarter of a million, and In the private balances there is also a falling off of nearly a million sterling. The other items of the balance sheet show little change of importance. Subjoined are the particulars:— Active Circulation Increase .. Stock of Bullion Decrease Rest .. £19,865,695 496,025 11,940,817 .. 227,451 .. 3,222,592 1,469 7,219,540 345,717 • 10,714,028 • 929,537 • 620,170 00 F 4,570 9 916„ 605 No alteration. Other Securities • • • • • • 19,862,603 Increase . . •• 225,695 Notes unemployed . 1 . •• • • 5, 6 7 9 ,7 40 Decrease .. • • • • • • 763,120 A furth er sum o f £45,000 in gold was taken into the Bank yesterday. In the Foreign Exchanges, yesterday afternoon, there was very little alteration, but more firmness Vas generally apparent. In the Liverpool Cotton Market, yesterday, the "ales amounted to 10,000 bales, but there was no Material alteration in prices. The imports of specie since Monday last amount to £147,315, and the exports to £538,729. There has not been much animation in the English Stock Market to-day, but increased heavi riess has prevailed, Consols having receded to 891 for money, and to 90 for the account. Specu lation is extremely dull, but the Bank return being considered unfavourable has led to a continuance of sales. The New Threes and the Redneed have receded to 891- -7-, ; but Exchequer Bills are firm, at 2 8. dis. India 5 per Cent. Loan receded to 977,-, ; ditto Debentures, are 951 96 ; and ditto Bonds, 10s. dis. Increase Public Deposits • • • • Increase .. • • • • Other Deposits • • • . Decrease .. • • • • Seven Day and other Bills .. Increase .. • • • ' Government Securities • • There has been very little alteration in the Foreign Stock Market, but the dealings have been numerous. Turkish 6 per Cents. are 701 711; ditto, 1858, 55 1; ditto 4 per Cent. Guaranteed, 1001; Venezuelan, 181; French 41 per Cents., 94f.; Brazilian, 981 99 ; Buenos Ayres, 901; ditto De ferred, 28 . 1; Equador, 111 ; Mexican, 218 ; Portu guese, 471; and Spanish Deferred, 43. The dealings in the Railway Share Market have been very limited, but prices generally have shown little variation. Great Northern A Stock, however, bas declined about 10s. to 15s. ; and North Eastern (Berwicks) have improved ss. The other lines dealt in remain at about their previous values. In the Foreign and Colonial Markets the opera tions were of an unimportant character. South Austrian and Lombardo-Venetian brought 151 ; East Indian were flat at 1001; Great Western of Canada brought 101; and Grand Trunk of Canada, 191. Joint• Stock Bank and Miscellaneous shares continued very inactive, and prices were without alteration. BRITISH FUNDS—CLOSING PRICES. 3 per Cent. Reduced Annuities B9a k 3 per Cent. Consols Annuities New 3 per Cent. Annuities B9l 1 India Stock • Ditto 5 per Cent 1 utto Debentures, 1859 96 Ditto Bonds £l,OOO lO dis Consols for Account, July 10 .. COI. Exchequer Bills, £l,OOO, lid. • D tto £5OO 2 dis FOREIGN FUNDS—CLOSING PRICES. E - azaian 5 per Cent .. 981 9 Ditto, 1839 & 1859 9 Bi Buenos Ayres, 6 per Cent. ......... „... Ditto Account Ditto Deferred Equador New Consolidated tdexican 3 per Cent Ditto Account New Grenada Active, 31 per Cent. Ditto Deferred .. 5 ortuguese 3 per Cent., 1853. .. 47 1 -ardinian 6 per Cent. Ditto Account SpAnish 3 per Cent Ditto New Deferred — Ditto Account Turkish 6 per Cent Ditto Guaranteed, 4 per Cent. Venezuelan 3 per Cent Ditto Account ilividends on the above payable in London. French Rentes, 4i per Cent., Ex. 25f 94f. THREE O'CLOCK. Consols ' M oney Ditto Account 9Ol i , COURSE OF EXCHANGE. —YESTERDAV. A ft 'Sterdara ........ Short. 11 19 11 191 Ditto Rotterdam? W u : e n h Br a 25 621 25 671 -- 25 621 25 67 3 / 4 I :; ra D i r i s s t e t i n o e g s Short. 25 35 25 40 3 Months. 25 671 25 724 25. 70 25 75 Frankfort on Maine 1191 1191 Trieste vlelina ' ' .- .... 14 30 14 40 --- 14 30 14 40 Petersburgh 33 33! Berlin - — k liadrid C adi_z — `4B3 48 .Leghorn 25 25 90 48/ 48 Itilan 25 Q 25 774 Genoa 25 771 Naples 394 1 Paler mo Messina lTh Lisbon. Oporto 524 Rio Janeiro New York ii 7 2 t 25 72t 39/ 117/ 1174 52/ 52i .• •• Foreign Gold in Bars (Standard).... per oz. L 3 17 9 Mexican Dollars .• .. „ 0 411 Silver in Bars (Standard) „ 0 5 01 South American Doubloons IRIS DAY'S SHIPPING. __LONDON, June S.—Wind this day at noon, North , •Kasterly ; moderate breeze, and cloudy weather. Ponasmounr, June 7.—Wind N.E.—Arrived—Her st Majesty' s ship Wye, from Woolwich. ,SWANSEA, June 7.—Wind S.W.—Sailed—Rota, for CLYD E June 7.—Wind S.W.—Sailed—Helenia, for Itomberg. ea.RDIFF, June 6.—Wind S.E.—Sailed—Ellemine Maria, for Bilboa. Sailed—D ane , scr ew P Lymounr, June 7. — Wind steamer, for the Cape of Good Hope. C ° l 'rEs, J une N.N.E.—Arrived—A rago steamer, trom New York. YouunA,L June 6.—Wind S.W. — Sailed — Nameless, for Miranaioid: (BY ELECTRIC TELEG RAPH.) SOUTHAMPTON, Saturday Morning. Arrived__Aili ance, steamer, from Havre; Courier, . tr teemer from Jer s ey ; Queen of the T y ne. from Riga ; -1-lavelock, from Shields , Dan, from Scilly ; Isabella, from Sunderland; Mechanics' Own, from Newport. S ailed—Argyll, steamer, for Carentan. (BY SUBMARINE AND MAGNETIC TELEGRAPH.) GRAVESEND, Saturday Morning. Arrived Love, June 7—Karsina, from Groningen Norsk e, from Krameroe ; Sienkaversema, from Got henburg ; Mathilde,'from Thisted ; Margaret Eiizlbeth, from O dessa; Silus, fr, m Uddewalla ; Fo tuna, from Em den ; AJ/nora, from Guernsey. Sailed, June B—Leipsig, for Hamburg. DEAL, Saturday Morning. Wind N.N.E., moderate. Passed —Edmund Graham, from London for Madras , Brenda, screw steamer, from London for Genoa ; nova Lavrouse, freak. London for Cardiff; Padre, from London for Marseilles. Sailed—Boudicar, for London, in tow. successor to the late The s at the Board of Admiralty but we believe directionshltr Sir Richard S. Dundas not been officially announced, patent, in which the name ofe gear -Admiral issued to prepare a fresh Hon. Sir Frederick William or e ar - A.dufiral of the Red the eluded. It was at one time suiplriovy;edl(. thate.B .will be Vice-Admiralin- taken the vacant seat, of the Blue Henry Eden would yganalldant officer is not but we have been informed that th e e GuildhaAll By Navy Gazette. covetous of civil employment.—Arm CPONFIDEN EMBEZZLEMENT OF £lO,OOO lice-court, 'rta.L CLERK.—Yesterday, at the , W r, as Fabris, Ernest Brown, who for many years filled a with highly -respon sible position in the employ of Messrs. Boii and Co., merchants, of 30, Throgmorton-str ee t at the bar before Mr. Alderman Hale, charged em bezzling various sums of money, amounting in the ag gre gate to about -£lO,OOO. The prisoner was apprehended in South Africa, by a City detective. The information u p on which the warrant for the apprehension of the prisoner was issued having been read, evidence was adduced in support Of three charges, involving an amount of £1,060, out of a g r eat many that were discovered upon a care ful investiga tion of th e b no k s a ft er th e prisoner had abscon ded. Havin g 4 eald the whole of the evidence for the prosecution, the Pri soner expressed no desire to make any defence to the 1 , h eavy charges against him. Ald erm an Hale committed gun for trial, con- they iation, raders it rea -1 order which of all ing to d who i they being pinery ary to ss it is rs deal apidly then these , t Com irehen ;eneral nly to nd we would. their ng the secret 6t it is ck has I ever with Iperior etiring This out of ras the ng else se this o back Appeal ovelty, fleral's of this traders Lion in was in tnutila isford's )ge to carcely .e clear s given, to lie is left r pretty d prin- Llectiom ) hands Tought ras the Is mis rer, the bank. nkrupt d upon ch the Pe fear of the by no certain ;ye the :ontent rites of for the tection l hoped ver, to will be vetting lminis at that e other Peers convic 3urely, iires of -evail ? .t their lestion in dis yet be remise ews of Cham to be good. to see e muse Lu the mend- r is a reports of the ty are we give arrived re each 95 cwt, ra, bow rifled. lows— 3 arm a- ham, is ur 100- id two )endent es and arma- under f rifled stands ered to 3e sup- —The Iham- mails ,000 in leaves il, and r, with renaa, York. y with , Cap • , • the of the )011ey, 9 SHARE MARKET.- (TIM DAY). OTWIINARY SHAAES AND STOCKS. Closing Business Railways. 50 lir ast and .1-1 , Wol , and Str. Val. ock Birk., La., and Ch June 25 Blyth and Tyne • 10 Boat, Sleaf. andMid,Co. ock llristol and Exeter ock Caledonian 10. Carmarthen & Cardigan 50 Cork and Bandon. 20 Cork, lilrocic, &Passage 20 Cornwall A gets no div. 10 Do A 1 ( until 6pc peran. 10 Do B hasbeeni toB 50 Dublin & Belfast June 25 Dun., Perth, &Ab..lunc ock East Anglian Get. Eastern Counties ock Eastern Union, A stock ccit Do do B do 25 Do Nw A, late EU3ds ock East Suffolk ock Edinburgh & Glasgow ock Edin. Perth, & Dundee 10 Forth & Clyde Junction ock Furness ock Glasg. and S. Western 10 Great Nthn. of Scotland ock Great Northern ock Do do A stock ock Do do B do ock Gt. S. & W. of Ireland ock Great Western ock Do Str Val gun. stock 12 Irish South-eastern ock Lancashire & Yorkshire ock Loudon and Blackwall ock Lon., Bright.. &S Coast ock Lond., Chat., and Dover ock Lond. &Nth. Western ock Lond. & .th. Western 25 L'derry & Coleraine 25 i;derry & Enniskillen ock Man. Slid. & Lincoln 50 Maryport and Carlisle 12i Do do k shares 10 Metropolitan ock Midland 1.0. Do new. ock Do Firming. & Derby 50 Mid. Gt. W. of Ireland 25 Do > shares , 5 Mid Kent .............• 10 Do, Cray Line 00 Newcastle and Ctrlisle 10 Newry & Armagh, def 20 Newry, Warnpt. & Ros ock Norfolk •• • • ock North British .. ock Nor.Dev.Rail&Dk.stoct ock Dh 4 stk ; A recs no fi.l until fipchas beenpd.B ock Do B stock • • • ock Nth. Eastern—Berwick) 25 Dodo , purchaser ock Lee Cs...... ' ock Do York OCR North London ........ 10 Do new ,16.4 North taffordshire 1 0 N. and S. W. Junction ock Not. & Grantham Rail 1 10 rzebles •• • 20 Portsmouth 10 Rhymney....._ ock Scottish Central i ock scot N. E., Aber. stock , 11 ock Do Scot. Mid. stock j 1( ock Shropshire Union It 10 Sittingbourne & Sheer a ock South Devon 10 25 S.-Durham & Lanc.Un 2' ock South Eastern ock South Wales 10( ock S. York. and River Dun 10( 20 Staines, Wok,. and lx.rok al 25 Stockton & Darlington al 25 Do do .. 11 25 Do New (1860) 3 ock Taff Vale 100 )ck Do Pref. No 1 lOO [5 ThamesHavenDk&Rail 22 ;0 Ulster .. • • 25 . 10 Do .• . : ....... ,ck Vale of Neath 10 Victoria Sta. and Pim • all Waterford & Kilkennyl 100 10 Waterford & Limerick , all 10 West Cornwall !O West London ... all ip Do l et class all , 0 Do 24 class .. all ck WestHartlepool Harbrl and Rail 7lc West Midland—Oxford, 100 Do. Newport, 100 Do. Hereford, 100 8 84 81 83 6 7 97 99 90 D7i 1( 1( 98-Ili 1 11 40i 11 11 721 f i I 1; ] 111 el 81 et Oi: 18t; 46 48 41 13 85 87 PREFERENCE SHARES. Railways. Paid ! Closing Business Share Price. Done. 25 Blythe and Tyne 10 per c. pref. (issued at £s‘ stock ifsris. & Exet.4 p.et.stocb 20 ' Do. do. do. Shares stock ,Caledon £10,4, percent stock , Do. Quar. Shares, No. 2.1 4 ',Cork & Bandon, 5i p. c. 20 Cornwall, 5 per cent 6i ' Dun.Perth&Aber.Jun. 14 Do Ist Class Pref stock E.Angn.Class A 7 &sp.c. stock Do. do. Class B 8 p.c stock Do. do. Class C 7 p.c stock E. Coun. Ex. sp. c. No.l stock Do. do. No. 2 stock Do. New Open ct. stock. stock Eastern Union, 4 per ct. I stock Do. 5 per cent. guar... stock ; Edin.&G las. 5p.c,. shares, stock I Do. 4p. c gua. S. & D., stock ; Fdin. Perth& Dun. 4 p.e. )ck ' "urness, 5 per cent .... )ck ;Glas.& S. West.g.a. 5 p.c. opt; Great Northern, sp. ct. ock i ro.sp.c.Redm., 10 p.c.pm ock , Do. 4i p. c. do. do. 00 ; Do. sp.c. Redm. 5 p.c. pm 10 iot. Nh. ot Seottd. 184 pt. ock I Gt. Sn. & W (Ireland) 1 p. et. pref. stock 50 Great West. (Berke and Hants) Ext. 5 p. ct ock r:o. Redeemable, 4i p.ct. ock Do. Redeemable. 4p. ct. ock Do Irredeemable, do ock Do. 5 p.et. Redeem. Pref. a Do. Birm. Pref. Shares. 10 Gt. W. Ches. 8 p.c. pf.sh 1 0 Do. do. sp. ct. pref ock Do Birmg.uruar. stock 26? Do. Chester gua. shares 1:3 Do. do. do. 20 Do. do. do. 100 Lan. & Carl. 4ii pc. pref. ock Lan.&York 6p. c. stock. ;ock Do.Barnstst.£s 3s 10d pc toes Do. 6 per c. (E. Lan.) lock Lon.& Brig. 5 pc.gu. No 1 lock Do. sp. c. No. 2 lock Do. gua. 6p. c. took Do. do. 5 p.c. No. 4 tock Do. do. 4 per cen'. 5 Do. do. 4 p. c. shares tock Do. 7 p. ct. Pref. stock took Do. 6p.c. do. (W.E.&C.P I took Do.4p.e.S.(div.dettil '6s' tock ;Do. 4 per cent. Pret took I Dover , Lon. Chat, and Do.W. A rceiv. no div. 10 I Ex.A til 6pcis pd on /' " , o. B B. & Brom ex. 10 ' Do. Metropolitan Ex B ;took Lon. and N.W. Coy. and Nuneaton, 5 p. ct ;took I ,on. & S.W, 7p. et. stock ;tock Do. 44 per cent is. id. Do. (Prtsm. perpl anns. of 2s. 6d. 124 Londondy. & Cole. ish 124 Londony. & Ennis. ish stock ;Sian. Sh. &Lin. 6 per ct 6 Do. .£6 stock Do. 3% per cent 10 I Do. redeem. 6 percent l2i I lary.;ort & Car., 4 p. c 12 q i Do. 4% per cent. stock 1 Mid. Con. 6 p c. stock stock I Do.Con.Bris. & Bir. 6 p.c. stock I Do. 4i p. C. pref. stock 6 ;Do. 41 per cent stock !Do. Leic. & Hit. pref. st., stock ;NDoor. 5%1 p s . p c. . c. p r E e x t . d s o t. l lB B 4 47 s l stock cstockkk Do.sWay.Val.Ex.st.lB47 h do. do ;Nilo:. te\Bvr,igutisa.h,sspp.,oo . 0 0 t i Do. Bor. 'Uri. g. pf. shs ,t ' Nth. Dev. Rail. & Dck.Co. t ; N:-East. Cons. Pref. 4 p.c. t D o . 44 pO. redeemable.. it Do. G.N.E. 4 per c. pef. 17 ; Do. Berw ick, 4 p.c. Pret. 20 Do. Leeds, 6 p. 5. No. 1 12% I Do. do. QURTICrS, 1848.. 25 ;Do. York, H. &S. Purch. 20 ;North Staffordshire • 10 IRhymney Guaranteed. 8i ,Scottish Central , new p 1 st ;Scottish North-Eastern 3% p. c. pref. stock.... st Do.Aberdeen,gua.tip.c st I Do. 7p. o. pref. stock 10s. South Devon, Ann. 105. 10 I Do. Fixed 4% per cent. .0.6 ;south Eastern (Readin!2" Ann., 1.0.6) it Do. 41 per cent 't Do. Fixed ' ip.c. Ist is it south Wales, gua. 4 p.c it Do. 4% per cent. it Do. 5 per cent ;t S.-Yorksliire, 4p. c gun. '5 Stock. & Per, Asp. c. 5 Do. B 6 Der cent 15 Do. C 6 percent ,t Watrf d & Kilkny, 6p. c. 4 W.MiDo -Oxf Ist Gu do astk 4 . 2d st Do.; 1 ; v Do o .. r N e er pe o t. T 6 t ri p. P c x . . p PAr B ed 66 . 3 t no. tin 1869, Ist is. 1100 102 20 21 5i 6 99 101 108 112 105 108 108 110 106 108 122 124 80 82 109 111 90 92 75 77 LINES LEASED AT FIXED RENTALS. Leasing Bug Dote." R a ilways. a ' d Co.'s Price. Bedford and Bletchley all Ln Bu Ilringhamshire , 100 Do ... •... 94 90 Chester & Holyhead... 100 D0.......' 52 3 / 4 63 3 / 4 Do. 5 3 / 4 per cent 100 Do ....... 121 123 Do. 5 „ 100 Do. .• • 110 111 Clydesdale June ......1 100 Caledon... 100 102 Colchester, Stour Val. all C 15 3 / 4 16 3 / 4 ELincolnsh. g 6 p , r c., ICC Gt. North. 131 133 E.Union, H arwi eh Sits. ali E. Counts. 4 3 / 4 41 Do. Woodbridge.— 100 , • • Gls.Barr .&Neils.Drct. 100 Calcdon... Do. new • 100 Do. .• ! Gl os ter & Dean Forest all Gt. West.' H rtlp' I Dock. Rail.. all Br , Hull and 5e1by........! all Yk.N. Md. Do. ....... Do. D o . quarters... all Do, Lanc. &Carl. gua. 5 p.c. 100 'Ln& . N,W.' London & Greenwich.! 100 100 'S.astern' D o . Preference .... 1D0. E .....• • T,on.,Tilbury,& S -end 100 Peto &Co.) Lowestoft gua. 4 p c.. 1 100 !Norfolk.. Do. ki per cent....... 100 IDo. Mnc., Bxtn.,&Matlock all , L NW&M Mid. Bradford Prefer- 110 112 1 198 202 60 62 112 117 187 90 31 31 91 96 i 4P 55 57 - /s, : e e D w n o ce m . a S r n k:t e . ,B k e urYEx• N ' D r t u o , a h: n r s . ct i lli e e r a d c s e t s n m p t 15 . North Western Preston and Wyre. Do. i Shares A. Ro ystn.Hiteli..&Shep Shrewsbry& Hereford Do. do. S. -Staffordshire Wilts and Somerset Wimbledon 44Qvatin E.Counts. Do Do• iDo. Midland IL& NWI L.Yk• Do. I Gt.Nortli T.Ttrassey 15i 16 131 133 115 120 - -P 10i 11 89 91 9t Do. Gt. West. 14.diBreu 108/ I eta 1021 2 2l Share 12 . sine) all 100 100 100 100 100 100 !6 13 4 100 100 100 5 8 41 43 8 4 fl 174 18 49 N 38 40 27 29 82 134 25 278 107 109 125 127 108 110 102 104 130 1:12 103 105 721 73 60 62 10} 111 50 61 18 120 44 46 94 944 94 05 101 11 42i 43 4 3d 120 i 121 lit lIP 94 96 8 6d 54 56 62t 63i 103 103 P 0 59 60 911 91i 95 98 4} 4i - 91 )01 77 114 116 324 43i 85 87 46 48 39 41 39i 9 1' 5 1 121 I 55i 6 63 1031 / I( 2( 591 60 591 21 1 91 180 581 80 791 391 Z. o . pl 55* 53 2* 3* * d * 81 83 11* Hi 5 6 80j t 113 110 102 106 115 112 104 108 97 99 98 100 89 91 90 92 102 104 94 10 17 18 19i 101 74 76 20 21 10 104 15 154 13 115 13 115 [37 140 113 115 101 103 L5O 155 128 131 ?1 74 85 87 131 124 126 PI 68 70 [35 137 LOI 103 91 93 LO9 111 108 110 1 3 li PI 91 93 99 101 LOO 101 P its } d ip 22i 23 131 133 10 10i 221 23; 99 100 99 100 98 100 85 87 26i 27i 32 33 32 33 45 48 1124 126 1120 125 1101 103 1120 122 ,115 117 100 100 all all 100 100 100 all all THE SUN, LONDON, SATURDAY EVENING, JUNE 8, 1861. !Business done lf li d i pr 1 id 1001 101 97 99 981 991 981 991 191 20/ 65 68 54 53 34 36 44 47 35 36 34 35 98 99 d 4 d 91 96 d 10/ 11 91 91' 95 98 90 92 85 87 95 96 87 89 5 7 5 7 /100 15 all 100 1 99i 1004 lid .11 93 95 dl 'AYS. 2 11,1 I 1 11 12 3}21 3 2i 22 23 7/ 7/ 81 81 19i 204 ?8/ 394 8 9 36 37 53 65 5 4id 13 14 61 6 8 , ,f it 16 gds 22 23 6 61 9} 91 20 21 1001 The supply of produce was trade ruled steady, as follows s. d. s: d: Pine apples, perlb 8 oto 12 0 Colonial do., each 1 6to 2 0 Grapes, per lb 6 oto 10 0 1 Foreign do 2 oto 3 0 , ltelons, each Peaches, per doz 15 oto 30 Nectarines, per dz 15 0 to 24 0 Apples, per doz. 0 6to 1 6 Pears, per do Oranges, per 100 6 oto 10 0 Lemons, per 100 4 oto 8 0 Apricots, per doz 2 oto 4 0 VEGETJ Greens, dz bunch 6 oto 8 0 Cabbages, pr doz. 1 6to 3 0 Savoy do., pr do. 1 6to 1 91 Cauliflowers, pdz 3 oto 6 0 Brocoli, per bush. 1 2to 1 4 Potatoes, per ton 60 to 120 0 New ditto, pr ewt. 8 oto 14 0 Peas, per sieve 4 oto 8 0 Turnips, dz bunch 4 oto 6 0 Carrots, pr do 5 oto 7 0 Cucumbers 0 6to 1 6 Garlic, per lb Sorrel, per sieve 0 oto 0 0 Spinath, hf.-sv 0 Bto 1 2 Brus. sprouts, h.s. 1 6to 1 9 Onions, hf. sv 0 oto 0 0 New Do., dz bun 0 9to 1 0 French beans, 100 0 9to 1 6 Leeks, per bunch 0 oto 0 0 LA TV INTELLIGENCE—(Zhts Day). COURT OF DIVORCE. (Before Sir C. Cresswell and a Common Jury.) CLOUr V. CLOUT AND TIOLLIBONE. This was a suit of the husband, a butcher, in business at Kennington, for a divorce on the ground of his wife's adultery with the co-respondent, who is a tailor in the same neighbourhood. The respondent pleaded denial and cruelty, and the co-respondent merely denial. Mr. Huddleston, Q.C., and Dr. Spinks were counsel for the petitioner; Mr. Overend, Q.C., and Mr. M. Hill for the co •respondent ; and Dr. Wausbey for the respondent. From the opening statement of counsel, it appeared that the parties were married at St. Mark's Church, Kenning ton, in 1849, and cohabited until March, 1860, where the petitioner discovered his wife's infidelity. After marriage they lived for several years at Stockwell, and then removed to Mansion-house, Kenning ton, where the petitioner was at present residing. Shortly after the marriage the respon dent contracted habits of intemperance, which rendered the petitioner's home very uncomfortable, and he made every endeavour to reclaim her, but without effect. She was in the habit of pawning whatever articles she could get pos session of in order to obtain the means of gratifying her unfortunate propensity. She formed an acquaintance with a woman named Summers in the neighbourhood, who, no• minally, was a marine-storedealer, but in reality kept an improper house, and used to give her drink. There she met the co-respondent, who was aware that she was the wife of the petitioner, and immoral intercourse commenced. As soon as Mr. Clout discovered his wife's misconduct he immediately sent her away, and made her a weekly allow ance. She went to Gravesend, where she wrote several letters to the petitioner, in which she used expres sions in confirmation of an admission of her guilt which she was alleged to have made to him previ- Ously. In these communications she described herself as his " sinning wife," expressed the greatest regret for what had occurred, and implored his forgiveness. She described her mind as being in a most distracted state, and in one of her letters she said—" If one thing pains me more than another it is going to the butcher's." (Laughter.) Some witnesses were called, from whose evidence it ap peared that the respondent stated that she had been at the Surrey Gardens one night, and on leaving went into a house in the neighbourhood with a gentleman, and that she was scarcely ever sober. She was also alleged to have confessed to her servant that she had improper intercourse with the co-respondent. The petitioner's conduct was de scribed as being invariably kind and considerate, but it was elicited in cross-examination that he had quarrels with his wife, and pushed by r, and that herlace was blackened and bruised as she stated from the effects of his violence. [The case was proceeding when we went to press.] COURT OF BANKRUPTCY. (Before Mr. Commissioner Goultmrn.) IN RE E. ROWLAND-JUDGMENT. The bankrupt had carried on business as a builder and contractor in Coleman-street, Now North-road. This was a second bankruptcy, the bankrupt having failed in 1856, when in partnership with a person named Evans, for £90,000 and upwards, and although the estate did not pay a shilling they obtained first class certificates, and on the present occasion the accounts showed debts to the amount of about £12,000, and Mr. Pennell the official assignee, did not think the estate would realise more than ls. in the pound. At the application for certificate, the only opposi tion was by Mr. Linklater, on behalf of the assignees of Davies and Langton (the Shoreditch Bank), who were creditors to a large amount, and had been creditors to the tune of £3,000 in the previous failure. That was the only opposition, the other creditors appear ing desirous that a high-class certificate should be granted. His Honour could scarcely contrive a worse case of reck less trading, and he was somewhat surprised that the cre ditors had come forward to eulogise the conduct of the bankrupt, but the conduct of the Shorediteh Bank had been somewhat extraordinary. After his experience of the bank rupt upon a previous occasion, his Honour expressed his surprise at the bank's bolstering up a tradesman hopelessly insolvent, and enabling him to commit frauds to a large amount upon the community. The certificate would be suspended for twelve months from the present date, with protection for three months, then to be of the third class. POLICE INTELLIGENCE.—(This Day.) MARLBOROUGH• STREET. ROBBERY AT THE GERMAN CLUB.—Johann Blenz, a tall German, was charged with stealing a quantity of pro perty from the German Club, Dean-street, Seho, the pro perty of the keeper of the club, Mrs. Bibra. Mr. Albert interpreted the evidence. Mrs. Bibra said she had employed the prisoner as porter, and while in her service she missed a quantity of property of every description from boxes. Amongst other articles she missed a quantity of knives and forks bearing the name of the " German Club," and a piece of silk about 16 yards in length. Her loss was mere than £3O. Elizabeth Bosholt, a young German woman, employed in Berners-street, said the prisoner had given her several articles, all of which Mrs. Bibra identified as her property, and the witness also stated that she had pledged a piece of silk, about the quantity stated by Mrs. Bibra, to pay herself 10s. she had lent the prisoner. The prisoner pleaded guilty, but wished to be dealt with leniently. The Magistrate told the prisoner that it was an especially bad robbery, being at an hotel, where a number of guests' property was deposited, and committed him to four months' hard labour. THIS DAY'S MARKETS. moderately extensive, and the a. d. e. d Cherries, per lb. 0 Bto 2 0 Filberts, per lb 1 oto 2 0 Cobnuts, per lb 1 6to 2 0 Almonds, per bus 0 oto 0 0 Walnuts, ner 100 1 oto 2 0 Figs, per aoz 2 oto 4 Stiawoerries pun 1 0 to 5 0 Gooseberries Id sy 4 oto 5 0 Currants, per do. 4 oto 5 0 Plums, per do. Greengages, pr do. 0 oto 0 0 Raspberries, pr ptlo oto 0 0 A.BLES. Shallots, per lb Horseradish, pbn 1 oto 2 0 Parsley, per ditto 0 2to 0 4 Celery, per ditto 0 Bto 1 6 Beet, per doz. Parsnips, per do 0 oto 0 0 Small salad. p. pn, 0 2to 0 3 Mushrooms,p pun 1 oto 1 6 Artichokes, pr dz 4 oto 6 0 Cabbage lett,score 1 oto 2 0 Endive, per score 1 oto 2 C Radishes, dz hnds 0 Bto 0 10 Tomatoes, doz 6 oto 0 0 Walnuts, per 100 0 oto 0 0 Chillies, per ditto 0 oto 0 0 Capsicums, per do 0 oto 0 0 Rhubarb, per bun 0 2to 0 6 Asparagus, pr do. 3 oto 6 0 Seakale, per pun. 1 0 to 1 9 NEWGATE AND LEADENHALL. Turkeys, Os Od to Os Od ; poults, 5s 00. to Gs Od each ; geese, Os Od to 8s Od ; goslings, 4s 6d to 7s 6cl; ducklings, 2s 6d to 4s Od; rabbits, 18 Od to is 9d each; wild do., 6d to is Od ; pigeons, Os Gd to 10d each ; large Surrey fowls, 9s Od to 18s Od ; chickens, Os Od to 8s Od; barn-door fowls, 4s Od to 8s Od ; capons, 4s Od ; hares, 2s 6d to 3s Od ; grouse, is 6d to 2s Od each; pheasants, 3s 6d to 4s 6d ; ptarmigan, 2s Od to Os ; woodcocks, 2s 6d to 3s Od; snipes, is 6d to 2s Od; teal, Os Od to is Gd ; wild ducks, 2s 6d to 3s Od ; widgeons, is 6d to Os Od ; plovers, is Od to is 6d each ; guinea fowls, 7s Od to 9s Od ; roasting pigs, 5s Od to 8s Od each ; Ostend fresh butter, 10d to is Od ; English, is ld to is 3d per lb ; English eggs, 7s 6d to Ss Od ; French do., Os 6d to 7s Od per 120 ; leverets, 2s 6d to Os Od each. BRITISH POSSESSIONS. Paid. 6 7 100 100 100 all 2s. 75 80 65 70 65 70 41i 5* Closing Price. 6-} 66 95i 961 4i 5 d 2} I' i ISO 190 365 375 90 c+s 27 28 tarsi Railways. )0 Atlantic &St Lawrence, 1 Bom.,Baroda&.Cent Ind l : Gu. 5 per cent.. ...... 1 '8 Do, Do. B' !04 Buffalo and Laxe Huron (:)4 Do. New ....... ..... Do. Preference S Buffalo,BrantazGodrieli t 6 p. et. bds. Aug. 1, 1872 Do. do. July 1, 18731 )0 Do. do. June 1, 1871 1 5 elcutta.&S.Eastn. (Lim; I 9 j Cape,Ea s tn. Prov. (Lim.) !O 'CapeTown & Dock Scrip 9 Ceylon Gnarantd. 6p. C [7i Demerara !CI Eastn. Bengal gu. sp. c ocklEast Indian, hu. 5 p. c. . , !O Do. F Shares Est :0 Do. Jubbulp ore )0 Do. 4-a p C. Debentrs >0 Do 5 p e Deb 1664 DO Do. 1865-1870 took Grand Trunk of Canada ,00 Do. 6 per cent. Pref ,C 0 Do. 2d Pref. 6 pev cr ,00 Do. 6 per ct. Debentr SK) Do. 7 per ceu;;. 1862 [OO Do. do. 1867.. Do. do. 1872.. :k G t.lndiaPenin.g - ua.sp.c. Do. New gua. 5 p. C. :k Gt. South.of India (Lim, guaranteed 5 per cent. :0 Do. do. Gt. W. of Canada Shares Do. New .. ....... ... Do. 6 p.c. '73 with't opt. Do. 54 p. c. do. '77 d 0... Do, 54 p. c. do. '7B d 0... ;k Madras guar., 4i p. c... k Do. do. 5 per cent ...., :lc Do. 4 p. c. Extension' ) Do. 5 At tlelb.Corp. 6 p. 0. Bnds. ) Newßranswicktt Canda Ry.&Land(Lim.)g.6pc Class A Capital Share Do. do. Land d 0........ ',O Do. do. B Capital do. ..1 Do. do. Land do. .- .... - Oude (Limited) ........ stock Scinde .......... 4 ..,; i 20 Do. Punjaub .... ca re, 20 Do. Do. ........ 'id' c? stock Do. Indss.St. Flo. g it „g. 10 Trinidad (Lim.) Scrip.. IMPERIAL PARLIAMENT. ~.. ~ --- HOUSE OF LORDS,—(YESTERDAY.) ROYAL COMMISSION. The royal assent was given to the following bills by corn- mission : The Consolidated Fund (X 10,000,000). Smoke Nuisance (Scotland). Combination of Parishes Dissolution (Scotland), Haslingden Union Gas. , Northern Assurance Company. Swansea Gas. Neath Water. Dartmouth and Torbay Railway. Northampton Water. Bazgymoor Drainage. Kilkenny Markets. Lancashire and Yorkshire Railway (Branches to Shaw forth). Lltintrissant and Taff Vale Junction Railway. Ryde Water. Liverpool Improvement. Newcastle-under-Lyme Marsh Lands. Nantwich and Market Drayton Roads. Uxbridge Gas. West Cornwall Railway. Berwick, Norham, and lslandshire Roads. Huddersfield Gas. Midland Railway (new lines). Newgate and Metropolitan Meat Market. Isle of Wight Water. Leeds, Bradford, and Halifax Junction Railway. Universal Private Telegraph. Whitehaven, Cleator, and Egremont Railway. The Royal Commissioners were the Lord Chancellor, Earl St. Germans, and Lord Sydney. The LORD CHANCELLOR took his seat on the woolsack at five o'clock. __ PRIVATE BUSINESS. Atkinson's Trust Estate, Manchester and Welmslow Road, Cheshire Midland Railway, Midland Railway (Ex tension), Henley-in-Arden Railway, East India Irrigation and Canal Company, Uxbridge and Rickmansworth Rail way bills were read a second time. The Birmingham Canal Navigation, Stockton and Dar lington Railway (new lines), Sneyds Branch Railway, Thorne Moor Drainage (Amendment), Sowerby Gas, and Tyne Improvements Bills were read a third time and passed. BANKRUPTCY AND INSOLVENCY BILL. The LORD CHANCELLOR presented a petition in ayottr of this bill. CUSTOMS AND INLAND REVENUE BILL- THE BUDGET. Earl GRANVILLE, in moving the second reading of this bill, said—My lords, I rise to move the second reading of this important bill, the successor of that one which was moved last year under circumstances of a somewhat diffe rent character. At that time an amendment was moved by a noble lord, whose former connection with the office of Chancellor of the Exchequer, as well as his present connec tion with the Treasury, gave great weight to any motion of his on a bill like the present. On that occasion your lord ships' house was crowded and great excitement prevailed, and therefore I felt it to be necessary, even at the risk of seeming tedious to your lordships, to go at length into all the details of the bill, to meet by anticipation every objec tion which I thought it probable might be made, and to make every appeal that I humbly could to your lordships to take that course which I thought most expedient and prudent with respect to so important a bill. And I cannot help believing that the arguments I then used' must have had some effect, for we find ourselves this year met to dis cuss the same bill under somewhat different circumstances. Until this morning no notice whatever was given of any motion adverse to the bill. A statement, if I might be allowed to mention it, has been made in another place to the effect that it was not likely any opposition would in this house be offered to the bill, and if I am not mistaken the noble earl the leader of the party opposite stated at a City entertain ment that it was not his intention, should the bill pass the Commons, to offer it any further opposition in this house. For these reasons I do not now, certainly, anticipate the re jection of the bill. A noble duke has, it is true, given notice of rejection, but I can hardly believe him tp be serious in so suddenly adopting what your lordships must feel would be a most serious step for this house to take, thus placing your self in opposition to the other House of Parliament, and on grounds which, until I hear them again stated and strength ened, I can hardly believe to be tenable. The notice of the noble duke has already excited great alarm among the mer cantile community, but I cannot believe that alarm to be well founded. I am rather inclined to assume that the noble duke put his notice on the paper merely for the purpose of giving spirit to the debate, or possibly with a view of show ing that his confidence was not quite unlimited in the noble earl who is generally considered. to be the leader of the pa-Ay. The noble duke perhaps wishes to show that he can take his own course with respect to a great question, but I can hardly imagine that he means to press his amendment to a division. With this conviction I shall confine myself to a simple statement of the objects of the bill, and of the prin cipal reasons which have induced the Government to re commend it to the other house of Parliament, reserving to myself the right of replying at greater length should any arguments be put forth in the debate requiring, in my ju.dg , ment, more detailed observation. I beg to say, however, that I do not take this course w ith any view of deprecating discussion; on the contrary, I think it desirable that the measure should be most fully debated, but I think, in the first instance, the course I have indicated will be the most convenient t) the house. It is not my intention to go over every point of the bill in detail, but will merely recall a few circumstances connected with the budget of last year. The deficiency then was £850,003, and if you added £850,000 loss, which would have occurred from the repeal of the paper auttesrthere would have beeu a total deficiency of £1,700,000. Now. the best way to show the comparative importance of this 'deficiency will be to mention one fact. It was Mr. Huskisson who stated that the consequences of a bad harvest were equivalent to a loss of 7 per cent. on a re venue of 60 millions, so that according to that calculation we should last year, instead of a deficiency of £1,700,000, with so bad a harvest as we had, have had a deficiency of seven millions. I think the comparison is very satisfactory, for it will not be necessary to go farther than to state that we paid 24 millions for foreign corn to show how deficient was last year's harvest. I might also, however, quote the opinions of the persons most conversant with agri culture, that seldom has there been seen a greater de - ciency of food, both for man and beast. I think it, therefore, a satisfactory proof of the beneficial effects of our commercial legislation during later years that a sufficient supply of food should have been ensured under such very unfavourable circumstances. lam also satisfied that the actual amount of deficiency shows that if we had not a good but even an average harvest, the Chan cellor of the Exchequer would not have over-estimated but considerably under-estimated his resources. With regard to the present bill, the calculations of the Chancellor of the Exchequer were made afte7 the mode adopted by all previ ous Chancellors of the Exchequer, and which I suppose will be continued by all his successors—namely, that of making careful comparisons of the opinions of heads of de partments, and of all persons conversant with the facts ; and it appears to me the most sensible way of approaching the question. The calculations of the Chancellor of the Exche quer gave in round numbers a surplus of about two millions, and I apprehend that the amount of that surplus is not now to be called in question. As a general rule, so long as a Minister is permitted to retain his office his calculations are accepted as correct ; and in addition, I have to mention that a right hon. gentlemaD who lately held the office frankly admitted the Governrnrert calculations to be correct, and has proposed to reduce the surplus by an amount much greater than the reduction submitted by the Government. Having, then, this surplus to dispose of, the Government have de termined to distribute it in the following manner. In the first place, it is proposed to reduce the income tax from 10d. to 9d. in the pound. I am happy to propose that reduction, and I am sure my satisfaction will be shared by your lord lords—(hear)—my only regret being that a still further re duction cannot be conveniently made. (Hear.) It would have been no doubt agreeable to many, both in and out of Parliament, if we could have proposed a reduction in the duty on tea, an article in which the community is so gene rally interested. Some attempts have been made to show that the duties on tea and sugar press more heavily on the poorer than on the richer classes ; but my answer to this is that four years ago, Sir G. Lewis, who was then Chan cellor of the Exchequer, made a statement to the effect that 60 per cent. of the tea and sugar duties were paid by the richer classes, leaving only 40 per cent. to fall on the poor, and that statement was adopted by the leader of the Opposition. lam inclined, therefore, to rely on that state ment. The reasons why we do not propose any reduction in the tea and sugar duties I shall now briefly explain. In the first place, your lordships are aware that a very small ream duction of duty does not produce a proportionate reduction in pi ice, and very small would be the amount which we could have spared under any circumstances, besides which the cost of collection would remain the same. We did not think, therefore, there was any urgency for such a reduction of the tea duty as we could have made ; and with respect to that on sugar, I do not believe that any proposal came from any quarter for its removal. There is another small item in this bill which it will not be necessary to dilate on. The only object in re-arranging the duty is to protecttherevenue, and prevent the adulteration which has become so general in an article of almost universal consumption. I now come to the question of the abolition of the excise duty on paper. Last year I detained your lordships for nearly an hour in describing the disadvantages of that tax, and I cannot help thinking the statement must have had some effect, for no answer tending to show that the tax was not injurious to the manufacturer, that it did not prevent competition, or to deny thatit was a tax which entered into the price of every article that was wrapped in paper, has been attempted since. I showed also how injurious was its operation with regard to the diffusion of cheap literature among the people. I showed conclusively that it increased a hundredfold the price of educational and useful books, whilst it did not in the slightest degree stop the circulation of those deleterious works which are only too widely circulated among the people. I do not intend to go over all that ground again. The arguments for and against re peal have been long . before the public. Nearly 30 years ago, a commission presided over by one of the ablest of our financiers condemned the tax. Since then an abstract resolution recommending its abolition passed the House of Commons, which resolution was supported by many of our leading public men, including Lord Stanley and Sir E. B. Lytton, who, in spite of all the considerations of party, has so nobly supported his previously expressed con victions. On that occasion nothing was expressed but con demnation of the tax—expressed, too, in the strongest and most decisive language. The bill came to this house and was rejected—upon what grounds I will shortly state to your lordships. It was said that subsequently to the introduc tion of the budget there had happened events which made the calculations of the Chancellor of the Exchequer impro vident, and that there was in fact no surplus revenue to deal with, consequently that it would not be wise to get rid of money which ought to be kept in the exchequer, and therefore the House of Commons should have another op portunity of making the financial arrangement for the year, Those were some of the arguments used last year, but they were not used by the Government. This year, however, the Government has a sufficient surplus to enable us to propose the abolition of the paper duties, and there will be no risk in doing so. Your lordships might have objected to the repeal of this tax—not upon its merits, but upon differiali grounds. This question was now the only bone of ooF . t r e! 2 .. tion between the two Houses of Parliament. and therefore think it will be wise, instead of dealing with anY S2g witli that we should take the earl iest opportunity of 41 to which it. (Hear, hear . ) There is only one otherPZ obatinCEl A Rill new refer. I hayi) Whom, c opiderm t NEWPORT. Beef, from 3s 4d to 4s ladintitton, 3s 8d to 5s Od; lamb, 5s 4d to Gs 4d; veal, 4s Od to 4s 10d; and pork, 4s Od to 4s 10d per 81bs. WHITECHAPEL. Beef from Ps 4d to 4s 100 ; mutton ' 3s 8d to 5s Od ; lamb, 5s 4d to 6s 4d ; veal, 4s Od to 4 s 10d ; and pork, 4s Od to 4s 10d per Sibs. by the carcase. BILLING SGATE. Salmon, is 4d to is 8d ; trout, Os Od to Os ; eels, Gd to 10d , prawns, 580 d to Os; pike, skate, sturgeon, and halibut, Gd pei lb. Turbots, 3s Od to 12s ; cod, 3s Od to 4s Od ; brills, 2s 64 to 6s Od; doreys, 3s Od to 4s Od; mullets, Os Gd to 2s 6d; lobsters, 6d to 2s Od ; crabs, 6d to 2s 6d ; plaice and garnets, 4d to is Od each; soles, Gd to is 6d per pair; common oysters, lOs to 128 ; natives, 40s to 44s per bushel ; whitings, 3s Od to 6s Od ; haddocks, 5s to 12s Od ; smelts, 4s Od ; flounders, is Gd to 2s 6d per dozen ; mackerel, 42s ; fresh herrings, 12s ; bloaters, Os to 8s per 120 ; carp and tench, is Od to 3s per brace. BREAD. The prices of wheaten bread in the metropolis are from Bid to 9d, of household do., 61d to 8d per 41b loaf. HIDES AND SKINS. Market hides, 561 b to 641 b, 2/d to 3d ; 641 b to 721 b, 3d to ; 721 b to 801 b, 3 i ld to 31c1; 801 b to 881 b, 4d to 41d ; 881 b to 961 b, 41d to 44d; 961 b to 1041 b, Od to —d. Horse hides, 8s to 9s 6d; calf skins, light 2s Od to 3s Od ; do. full, 6s Od to Os Od ; polled sheep, Os Od to —5 Od ; half•breds, 9s Od to lOs Gd ; Downs, 5s 6d to 8s 6d; lambs, 2s 3d to 3s 10d; shearlings, Os 10d to is 2d. iILY MARKTN'TS. SMITHFIELD.—AIeadow hay, £2 Os to £5 Os Od ; cloves do., £3lOB to £ 5 18 s ; and straw, £1 lOs to £2 Os per load. Trade dull. C UMB ERLAND. Meadow hay, £2 Os to £5 Os ; clover, £3 lOs to £5 18s Od : and straw, £1 10s to £2 per load. Both hay and straw moved off slowly, at our quotations. WIIITECHAPEL. -- Meadow hay, £2 Os to £5 Os Od ; clove', £3 10s to £5 18s Od ' • and straw, 10s to £1 18s per load. A heavy demand. DEATH FROM DRINKING THREE QUARTERNS OF WHISKY.—Last evening (Friday) one of the Covent garden Market porters, named Patrick Geary, was taken to Bow-street Station in an insensible state, having drunk no less a quantity than three quarterns of Irish whisky. It was thought advisable by the authorities to take the man without delay (on it being made known what he had drank) to King's College Hospital, but unfortunately he died on the road thither. The whole of the affair, and the parties concerned in it, will be placed before the coroner.— Era. ITALY.—Letters dated fiom Turin previous to the death of Count Cavour say, "the lion is down—the vultures; are comegatbag." FOREIGN RAIL !O Akerian . [0 Antwerp 4t Rotterdam Ardenne5........... .. :0 Bah.lzS.Fran..Lim.7 p.c. 5 Belgian East. Junction !O Beziers to Graissessac.. Carmeaux Mine & Rail ) 0 Copiapo 10 Ditto Extension .... Dutch Rhenish .. O Eastern of France Grand Rua Guar. 6 p. c ;0 Do. do. :0 Great Central of France 20 Gt. Luxem., Con. shs 20 Italian Junction 20 Lierre 85 Turnhout 20 Lyons 85 Geneva 20 Namur & Liege 20 Do. 6p. c. Pref. .....• • • 16 Northern of France 16 Do. New Shares 10 Norwegian Trunk Pref ' 20 Paris,Lyons, 85 Mediter 20 Paris do Orleans 20 J Recife 85 S. Fran. (Fern ) gua. 7 p. ct. lirn 20 Riga 85 Dunaburg 20 Royal Danish 5 Royal Swedish ...... 4 Do. 7 per cent. Pref 20 Sambre 85 Meuse 10 Do. 5i per cent. Pref 20 San Paulo, lim, g. 7p. c 20 S. Aus t. ezfomb'Venetin _ ISouthern of France.... 20 S. East Portugal 7 p ct. 8, West Flanders ...... 10 Do. 54 p. c. Preference •1 20 W. & N.W. of France .. 23 West'rn of Austria.... 20 West,rn of Switzerland 6 Wiesbaden ...... 6 Do. 8 per cent Pref.... 20 Zealand . 18. R. all all all all all sr. TTTSI - 1 MI: - 'Mired Consols (Philack) , British Iron - 'Clifford !Devon G. Cons. (Tavist.) East Bassett (Mogan) 1 East Caradon IE. WI Russel. (Tavistk ) Gam.&St.Aubyn(Gwen ), 'Great South Tolgus 1 G.Wheal Alta. (Phil ack)l G. Wheal Vor Grenville Herod's- Foot Hingston Downs Lady Bertha Margaret ( tjny Lelant) !North Downs ' ; North Frances (I1logan), N.Wh'l Baseet (1110 - 4 anj ;North Wheal Crofty Par Consols (St. Bla - zey); 10 , Providence (Uny Leint.)l ' Sortride:e Cons. Min. Co. South Caradon(St.Cleer) 'S. Cam Brea (Illogan) 1 S. Dev. Iron &Gen., Lim ;S.Wheal Fran. (Mogan), jStray Park 5 Tamar Silv.ez Lead Min 10 I ,Tin Croft 310 320 3 34 130 .140 34} 364 14 2 41 5* 18A 194 53 56 365 375 90 95 105 115 1 2} 9 10 11 13 14 16 Vale - of Towey (Caren.) West Basset (111nan).. W. Caradon (Liskeard) West Seton Wheal Basset (Mogan) Wheal Buller (Redruth) Wheal Edward (Cals.) Wheal Kitty (1J• Lelant ) Wheal Mary Ann (Men.), Wheal Tre tawney (Lis.)! FOREIGI Australian Ron Areord Conory r.lim.l 17.6 Brazil S;..J.del Itey,Limf 15 IDo.Land and Dltning - ,C0.1 all Clarendon Cons.AlinCo 1 Cobre Copper ! all Copiapo Dunllfoun.Cop.bling,r C . o l ail Fortuna. General all 'Gt N. Cop. of S. Austr 1 Kapunda (Limited) 1 Linares all t d 34i 35i 39 41 7 9 24 3 24 25 1i 14 p 7k 84 y r id 5 Lusitanian , 1 Mariqui tit 1 N.lthineCopotS.AllB. L 20 Pontgibaud Silver,Lead; Mining and Smelt 5 Port Philip 1 Scottish Austrin. (L.) 1 W 2•84 United Mexican 1 Worth o ing (Limited) D all 1 10s. all all 3 4 # ii 51 51 I i 5 I JOINT- STOCK BANKS. , 100 Agra4:,,-L nitedSercce Bk 60 84 86 40 jAustralasia all 59 61 60 25 ( Bank of Egypt all 18 19 100 Bank of London ... • 5O 53 55 20 (Bank of Turkey 50 British North American all - - 20 Chtd.Bank of India, Ac. all j 201 201 25 Ch. Mer. of In. Lon.dz Ch. all 31 33 100 'City 100 Colonial ....... 20•11 Corn. Bank of Canada.. all - - 100 Commercial of London . 20 - - 20 Eng.. Scot., & Aus. Ch.. all 151 165 20 ,Gen. Bk .of Switzerland all - - 20Lon. Char.Bkof Austral all 221 231 120 Do. new 5 14 If 50 'London and County 50 London Joint Stock 20 'London and S.Airican lO 1121 11 100 London & Westminster 20 1651 664 66 1 100 ;Nat. Prov. of England . 12 - - 20 'Do. new l2 - , - 50 'National Bank ........ 25 - - 20 , New South Wa1e5...... all - - 25 ,Orient. B. Corporation 20 Ottoman Bank 100 , Proveicial of Ireland II 10 I Do. new. I all - -- 25 South Australia .. - - 25 ',Union of Australia 50 Union o , London 100 'Unity Mutual. ...... . - 60 - - COLONIAL GOVERNMENT SECURITIES. - Can.uov. 6 p.c.Ja. &July 1 - 187',-9 lOO 110 114 - Do 6p. cent.lBBo-2 100 - - - Do. 6p. cent 1883-4 100 - - - Do. 6p. c. Feb. & Aug. 100 :08 110 - Do. 6p. c. Mar. & Sept: 100 108 110 - Do. 5 per cent lOO 1011 1011 - Cape G.Hope, 6p c,lBBO 100 1051 1061 - Do. 1890 100 106 107 - N.B.Gov. 6 p.c. Ja.&July 100 108 100 - Do. 6p. c.Ap. & Oct. 100 - - - N. S.W. Gov. sp. c., 1866 100 99 100 - Do. sp. c.,1871 to 1876 100 99 100 - Do. p.c., 1888 & upwds 100 99 100 - Nova Scotia Gov. 6p. c ' sterling, 1875 lOO 1071 1081 - S. Au5,66p.c.1878.& up lOO - - - Vic. Gov. 6 p.c. Ja &July 100 - - - I Do. do. 6 p.c. Ap.&Oct lOO 105% 1051 1051 1 DO 0 ' c S . stock ;Commercial leo - stock I Do. 4 per Cent.Pret.Min lOO - stock 'East and West India stock 'Londe - lOO 51 53 stock 'St Katharine j 100 60 62 62 stock i Southampton lOO 155 stock Victoria -•.. 100 96 - 98 20 Do New ._ - -...--, .... 2 ld par --- - ---- MISCELLANEOUS. 10 Anglo-llexican Mint ..1 all 13 14 10 Atlantic IL MI. Stm (Id)' - 2 21 1000 Atlantic Tel. (Limited) all 25 Australian Agricultural 19 30 32 : a_ t 15 2 000, BerlincDoop. British.C. (Limited) Ll,.i Water omf iii:ne American( L i (Limited) t a e n d d ) all 4o 4 . 1 _45 23 5 120 0 02: CcßDla.o:na. Do. : Bap . ;11 , Ir7aesp a it L. g a. c .n . 7at T in: 1 ds e pil L TB A : . (Lim) .(:,L iim.:, allaa l l all 30 3 11_8 0 1 3 2_1 5 30 • s a t t . Crystal Electric st. Do. PreiPeTracel e g d : Sz cent Si 1t g l aa a ao l l l lo l l l l st. Do. 6 p ct. Perpet. Deb l l l o ° o ° ool l na e ce g ee r a 1 20 E.lndia Irrign. & Canal id 1 d 23 Do. New p l• • • • 15 - - 5 English & Aus. Copper, 11 15 Gen. Steam Navigatlrn ail 34 34 1 Great Ship I.lmited) all - -1 1 Do. 171 pet Preference all . 5 Lon. District TeL (Lim.) 35 1 i 4 ,L.G. Omnibus Co. (Lim.) all 5 - 15 20 ,Madras Irr. and Canal 1 / 1 - ii. 10 !Med. Exten. Tel. (Lim ) all 25 35 - 25 'National Dis. Co. (Lim ) 5 11 Idi 20 Nerbu.Coal&lron (Lim ) 5 1 05d1 10 Netherlands Land all - - I 5 , Do.B p.c.Pref..iss.atl dis. all 4 1 ' 100 N.Br.&NovaScotiaLand, 80 5 10 1 ! NJl.Australasian (Lim.) all 5 1 I ( Oriental Gas (Limited). all 1 1 1 ,Do. New Shares (Lim.). 15s. pr 1. 10 ,Orintl. In. Steam (Lim.) 8 - - St. i Peelß.Lnd.&Min.(Lim) 100 51 53 50 Teri. & Oriental Steam all 70 72 50 Do. New 3O 11 13 42 20 IRed Sea&ln.Tel.g.4lp.c. all 17 18 50 Rhymney Iron all 161 171 15 ' Do. N"v all 45 5/ 100 , Royal Mail Steam 6O 47 49 :810912=055:s 11137:930878 10 st. 'Scot. Austin. Inv.(Lim.) 100 127 130 25 ;South Australian Land all 33 34 1 ',Submarine Tel. Scrip a s p i 4 O R . eistered ' do Austrlasia (11m)14 i 1 d Agency or 1 1 0 0 D TI ° II . s d t ols all _ 2 58 0 00 ii try f ri.utiD,L.dllloerr:Tow.neeltii. C 0.1114 i i c ai m a ....). 2 8 5 1 4 ii -Ivor 3.2.10] 20 I 1 I 20 5 1 40 1 2 20 2 2.14.6 7.4.0 1 17e 112,12.6 40 6.8.6 8.12 4.11.6 , 1.10.61 2 114 1.4.0 9.18.9 I* 10.6.7 all 24.8.0 13s 6.11 8a 1.7.2 :NES. all '128.6.1 of the bill, I will now speak of the form, and I think there is not a noble lord present who will suggest that the form is not perfectly constitutional. In 1787 Mr. Pitt introduced a measure which repealed Med imposed taxes basednpon3,soo resolutions, and the bill included a schedule of 61 pages. The bill was obje ed to in this house and a great debate arose, but in the en i it was agreed to. Again, in 1808, Mr. Pitt pur sued the same course, and with the same result. A measure of the same kind was passed in every year from 1809 to 1822 ; therefore as to the course now followed being a constitutional mode of dealing with the subject of finance there can be no doubt whatever. This being the case, I will now remindyour lordships of what passed last year. Your lordships rejected the bill. whether wisely or not I will not now attempt to argue, and the reasons for doing so were of a very unusual character. No doubt there was some excitement created in the other house, but upon the whole, the conduct of the other house last year was singularly moderate, and nobody can deny that that was in consequence of the proposal of the Government to refer the matter to a select committee. That committee was appointed ; and Mr. Walpole, who was Home Secretary in the Government of the noble earl oppo site, was selected for chairman. The report of the com mittee showed that the House of Commons has the p ower of instituting a tax for any period of time, and that they have the power to combine in one bill several taxes or mat ters relating to finance. This bill, therefore, is framed strictly in accordance with the recommendations of that select committee, which recommendations were em bodied in certain resolutions, and were proposed by the Prime Minister in the other house, and unanimously agreed to. (Hear, hear.) The Government thought the only re spectful course for the House of Commons to take would be to act in pursuance with the recommendations of that com mittee. The bill is not framed or brought forward with the idea that it would be disrespectful to the House of Lords, or with a view of showing insult to this house. At the same time it was thought respectful to the House of Commons that their position to repeal or maintain taxes should be clearly defined. I believe your lordships will see that it is more respectful to present the measure in this form than to have brought up a bill for the repeal of the paper duties singly, when the house had rejected the repeal of that tax last year. Whether this house has a right in particular cases and in times of great emergency to deal with the finances proposed by the other house is a question of great importance; but at any rate, even admitting that, it will be more convenient that we should have before us the com plete and whole financial arrangements at one time, than that we should have in various bills the great financial scheme of the year. Whatever may be the result of this debate it will leave the position of both houses the same as last year, and this house will have the right to reject a money bill, but not to alter it. (Hear, hear.) This house is in a position to reject a money bill in times of great emer gency, and in that case to leave the country to saywhether the taxes should be imposed or repealed. I hope the noble duke will withdraw his amendment—at any rate that, if he persists in moving it, it will not receive the sanction of your lordships. By passing this measure their lordships CH attain three great objects : we shall be able to complete that commercial legislation which has been so universally , useful in developing the industry and unshackling the en terprise of this country, thereby increasing to an incredible degree the sources of both indirect and direct taxation which have afforded very large sums for meeting an increased public expenditure. (Hear, hear.) In the second, we shall take away the only question which remains between the two houses, and which was likely to engender a bad feeling between them. (Hear, hear.) And, thirdly, by passing this bill we shall obtain a reduction of the income tax and the repeal of the paper duties. (Hear.) But in doing that it will not show an intention on the part of the Legislature to increase the direct taxes for the means of carrying on the expenditure of the country. For these reasons I beg leave to nrove the second reading of the bill. (Cheers.) [The noble earl was throughout his speech very indistinctly heard in the gallery.] The Duke of RUTLAND, on rising to move the amend ment of which he had given notice, viz., that this bill be read a second time this day six months, said he must throw himself upon the indulgence of their lordships—an indul gence which was never refused. He had put this amend ment on the notice paper because he found no other motion for negativing this bill—one which he.believed if passed would inflict very great injury upon the country. He thought a longer notice ought to have been given by the Government before proposing the second reading of a bill of such vast importance, politically and financially, and constitutionally. His objections to this bill were three fold. In the first place, he ventured to doubt whether there would be a real and substantial surplus. (Hear, hear.) Secondly, if there were a surplus, he believed a majority of the other house and'of their lordships and the country were of opinion that there were other taxes which if repealed would confer a greater benefit on the peo ple than taking the taxes off paper—(hear)—and thirdly, the bill was in a shape which would paralyze their lord ships' action, and prevent their giving an attentive consi deration to a bill of this nature. His objections were greatly strengthened by the very doubtful and hesitating manner in which the noble earl had referred to a surplus revenue. Since the budget had been introduced they had already di minished the surplus by £175,000; £150,000 in respect of the Stade Dues, and £25,000 for increased interest on Ex chequer Bonds. Last year the calculations of the Chan cellor of the Exchequer were not sound, and some such catastrophe as occurred last year might happen again. He hoped the harvest would be better this year, but who could say that it would be more abundant than in 1860 ? (Hear.) Supposing there was a surplus, would any man of fair and impartial spirit not admit that the labouring classes world not be more benefited by taking off the extra tea duty than by repealing the paper duty ? He felt persuaded the Chan cellor of the Exchequer agreed with him on that point, be cause last year when he introduced his budget he expressed the difficulty of his position in reference to it. (Hear.) But with that boldness for which he was so remarkable, and that ingenuity which no man could surpass, the right hon. gentleman found out that the labouring classes wou'd be benefited by a repeal of the paper duties, because all their tea and sugar was wrapped in paper. (Hear.) The Chan cellor of the Exchequer now came forward and recom mended this repeal on other grounds; and he had disco vered that in the reduction of a duty the consumer did not get all the benefit to which he was entitled, and he said there would be a great extension of commerce by the repeal of the paper duties, but all must feel that there would be a greater increase to commerce by a reduction of the tea and super duties. (Hear.) If the price of tea were lowered it 'would be brought more within the reach of the labouring classes, and therefore that duty ought to be first diminished. But he would ask at what time were they asked to take o ff those duties? Was the political horizon rnclouded? Were they quite certain that there would not be war ? Let them look abroad and across the Atlantic, and what would they see ? A nation plunged in cisil war, and cannon already sounded and reverberated upon these shores. They knew not whether this country would not be drawn into this quer. rel, and they knew not what demands would be made upon this country. This was not a time then to give up without the slightest necessity li million of revenue. If they looked at Italy—lately emerged from revolution—what did they behold ? Monarchies destroyed and a country almost with out any settled form of Government. There was a generous and an exciteable people given up alternately as a prey to a victoriors army—to disbanded soldiers and desperate bri gands. (Hear.) And it was only yesterday that their lord-. ships heard with the deepest regret—however much they might have differed from his views—that the great man who had kept together the elements of that divided and unhappy country had passed away. (Hear, hear.) How could they now tell what the future of that country would be ? If they looked nearer home, to the country which, as Mr. Cobden had happily expressed it, was united to us by a few miles of sea, what did they find ? Why, on the one hand they were signing a treaty of commerce, and on the other both France and England were grasping the hilts of their swords. Mr. Cobden had lately returned from Paris, and his words were looked at with the greatest possible interest ; and it was only yesterday that gentleman said he looked with the greatest alarm at the naval preparations going on in France and Eng land ; and at the conclusion of his speech in the City said, it would be better to prepare for peace than to prepare for war. He did not think there was one of their lordships who would say, when France was the initiator of great arma ments, that it was possible for this country not to keep pace with her. (Hear, hear.) While upon this part of the subject perhaps he might be allowed to express his admira tion at the patriotic and spirited reply recently given by the noble lord at the head of the Government, in the other house, in the debate on the navy estimates. The noble lord's words would thrill through every patriotic breast in e country. He aame now to the co nstitutional part ofthe ethipsesn weret up pqlueeeestdionbyanthdethmtahneneprosioitiwonhiienhwthhiiechbilti h hei o r d tn b to this house in one bill, by, he would not say the House of Commons, or by her Majesty's Government, but he would say by that overruling and p owerful mind which seemed to giiide both the one and the other. The noble earl said they in a very different position this year to what they were pwerelac placed last year. Then the bill was sent up to repeal the duty which their lordships decided, not in consequence of its merits, but in consequence of there then being no surplus to reject. They now had, he said, a surplus, and he hoped they would not divide. He wanted to know why the bill was not sent up as a separate measure, so that their lord ships might pass a deliberate judgment on it. It must have been the thought that their lordships would throw out the bill that induced them to take an underhand step, tacking it on to another bill and sending it to their lordships in such a state that they were almost powerless to resist it, and that they were unable to alter it, or it would be only optional to adopt the course he (the Duke of Rutland) had proposed, and reject it entirely. Among the precedents as to tacking bills Lord Macaulay had been quoted, and it was observed that he was in favour of tacking bills. The noble lord had quoted a passage from Macaulay's " History" to the effect that he was of opinion that the greatest Was occurred to a country where a system of tacking bills existed. The noble dyke proceeded to say, he would call their lordships' atten tion for one moment to the position which the noble earl asked them to occupy, and not to divide upon it. But what was the use of a debate which was to have no practical end, if the thing was already settled before the House of Com mons had sent up a bill which you cannot alter or amend. He asked what was the use of his occupying their time in addressing them. They were placed in more difficulty by the course which had been pursued than any other body of men; for they were told that they werq not com petent to have an opinion, and if any of them ventured to express their views as the noble earl below him did at the Mansion-house, they were told that they should wait till the bill was before them before offering even an opinion in reference to it. He would briefly call attention to the views that were entertained by the people of France in re gard to retrospecave debates. The noble duke here quoted a letter of the Paris correspondent of the Times on the subject, and went on to say, such was the opin:Lon of the people of France on these retrospective de bates which took place in their own country. He had 10 __ briefly—though he feared very inefficiently—laid his fe e a _ sons before them ter the course he had taken, to shnowantl? that this was not a bill that ought to become _2 1 , e 1 Parliament. He had only taken the lord he h a tal ` move an amendment, as he thought thisnd of the country at cause he could not find any other noble biwwasassog a oi d n v g er t s o e to the interests of their lordships tan to enter his protest that this bill be read large that he ventured at all evoevned against its passing. He nowp? a second time, this day six mon ths . The Earl of DE Rim—No one who had the pleasure and the honour of a persona s ac quaintance with my noble f r i en d can, for a single mo ment, doubt that the step he tak es i s dictated by the most conscientious motives, and wisothinuthche best intent ions ; and no one can fail to see from th e manner in w hi c h he has moved this amendment, with moderation and ability, that we must regret he does not more frequently take an active part in our proceedings and join in our debates. But, my lard., 1 twat pref ace th e f ew observations T em about to offer by saying, in th e fi rs t instance, that notwithstanding the high respect which I entertain, and which I believe your lordships all entertain, of the opinions and character of my noble friend, notwith standing the able wawa is %job, lie boa brought this matter before us, he has not induced me tp come to the practical conclusion at which he has arrived. At the same time I must concur in a great portion of the noble duke's objections to the bill now before your lordships. We are not allowed, as my noble friend says, to have any deliberate opinion or consideration; but I also concur with the noble duke in thinking that the bill is objectionable in point of form as well as in point of substance, because if that surplus does exist which the Chancellor of the Exchequer anticipates with so much confidence, but of which serious doubts are entertained by a very large proportion of the House of Com mons, and in which doubts I confess I share—l say - it that surplus does exist, in my judgment, and I believe in the judgment of many others, in the deliberate judgment of the House of Commons, and I am not sure I am incorrect in saying the deliberate judgment of her Ma jesty's:Government, there am other taxes which have a greater claim at the hands of parliament for repeal than the paper duty can be said to have. (Hear, hear.) There are other taxes which operate more injuriously and with greater hardship on the industry and comforts of the great masses of the community. There are taxes which have been. imposed for special and temporary purposes, and which have consequently a far preferable claim over the paper duly to be taken off, or at all events reduced, so soon as the temporary exigencies for which they were im posed have ceased to exist. (Hear, hear.) I think the bill objectionable in point of form, on the ground stated by my noble friend, because it is sent to your lordship, and sent deliberately with the s iew of precluding your lord ships from exercising upon it that deliberate judgment which I think it is for the benefit and advantage of the con stitution, as it is for the honour of your lordship's house, that you should be able to exercise on all matters sub mitted to you. (Hear, hear.) The noble earl who introduced the bill has stated that last year we were in a very different position to that which we are in now ; that last year it might be a question of doubt whether we had or had not a sirplus ; but on the present occasion that fact is universally admitted. I will not here stop, my lords, to take exception to the expression as to the fact of the surplus being universally admitted. The fact is that it is agreed in the House of Commons that in matters of this kind the Chancellor of the Exchequer is the best authority on the subject, and that on his statement we must be prepared to rely in our legislative capacity, whatever our personal and private opinions may be as to the soundness of the reasoning on the subject. The conclusions at which he has arrived my lords, I accept. The noble earl took great pains to show that if it had not been for a very bad harvest the anticipations of the Chancellor of the Exchequer with re gard to the revenue of last year would have been fully and entirely borne out—though the noble earl did not take into account the £BOO,OOO additional and unexpected Customs revenue which the Chancellor of the Exchequer received. (Hear, hear.) Now, my lords, in the first place, the time when your lordships were discussing this measure was in the month of July, at a time when it was clear to every human being that we could not ex pact anything but a very bad harvest. (Hear, hear.) Though in ordinary cases it would be perfectly fair for the Chancellor of the Exchequer to reckon not upon the circumstances of an unparalleled prosperity, but upon an average harvest and an average revenue, yet I find that at the period when the Chancellor of the Exchequer brought forward his first budget, which I presume is the one to which we are now directed—(a laugh)—about the period when we were discussing this measure, and before the Chancellor of the Exchequer brought forward his second or supplemental budget, it was perfectly clear that we must expect nothing but a bad harvest. (Hear.) Perhaps the noble earl will permit me to remind him also that at the period when the budget was under consideration her Ma jesty's Government were under a doubt, which I believe was shared in by no other human being in the kingdom, as to whether we were likely to be at war with China, and the provision taken in the budget for the China war was last year the modest amount of £500,000. Now, at a subse quent period the Chancellor of the Exchequer found out that that took place which all the world had foreseen, but to which he had wilfully shut his eyes, and consequently it was necessary that he should come down and ask for are additional and supplementary vote of £3,800,000. That, however, had not taken place when we discussed the ques tion ; but I hope your lordships will do me the honour to recollect that I thought it my duty to fatigue your lordships by a very lengthened analysis of the estimated expenditure cf the country. I then assumed for the purpose of argu ment that all the calculations of the Chancellor of the Exchequer were perfectly correct—that he was not wrong in any of his figures—that no unexpected circumstances would arise to derange his calculations ; and on the faith of that I took the liberty of showing to your lordships, and as. I think proved to your lordships, that if circumstances re mained precisely the same the provisions of the budget itself of last year were so contrived as to ensure, not for the year 1860-61 but for the year 1861-62, a deficiency to the amount of £2,800,000. (Hear, hear.) And I rested my support of the motion brought forward by my noble friend not upon any supposed error in the calculations of the Chancellor of the Exchequer, but upon the fact that the statement of the Chancellor of the Exchequer himself, as suming the correctness of all his figures, involved us in a certain deficiency of £2,800,000 at the least for the year 1861-62. Well, my lords, under these circumsta n c es y our lordships were induced to act, and I think very advanta geously for the country—(hear, hear)—and I believe the country generally now consider that your lordships acted very wisely—(hear)—to exercise an indisputable right— (hear, hear)—and refused to accept an improvident sacri fice of permanent revenue. My lords, Ido not quite know about her Majesty's Government; but lam afraid the Chancellor of the Exchequer has not ahoy' a himself suffi ciently grateful to us—(hear, and a laugh)—because we cer tainly contributed very largely to diminish that enormous deficiency which there would have been upon the revenue,, not of 1860-61 but of 1861-62, by the present ani e made to him of a million and a quarter by saving the paper duties. The right hon. gentleman certainly made no difficulty about accepting our gratuity,for he took advantage of the amount, and at the same time protested that never were people so ill-used as her Majesty's Government, or grossly affronted as the House of Commons. Then, my lords, with a meek ness which is worthy of all praise, the right hon.gentleman proceeded to frame a new budget to meet those altered cir cumstances, and in that new budget he took credit for the £1,300,000 which was secured to him by the intervention of the House of Lords. (Hear, hear.) How was the re mainder made up ? The remainder of the deficiency was made up, so far as I can make out in figures, by a course of proceeding which is of an exceptional character, but justi fied by the circumstances of the time, by withdrawing a sum of no less than £1,500,000 from the balances in the Ex chequer, that is, in point of fact- practically increasing to that amount the liabilities of the country, or, more properly speaking, dimin:shing its assets to meet those liabilities. That was the mode—in addition to the relief he got by the retention of the paper duties—in which the Chancellor of the Exchequer contrived to make both ends meet for the ser vice of last year. (Hear, hear.) What I stated on the former occasion was,that the revenue of last year was made out of odds and ends, waifs and strays, pickings here, antici pations from another quarter, and throwing into the service of one year that which belonged to another year, that which might be relied upon for the circumstances of that year, but which,:if the circumstances were not changed, would leave the revenue of , the next year in a deficiency to the amount of between £2,000,000 and £3,000,000. But when we come to discuss the budget of this year, every one is thinking how the Chancellor of the Exchequer will pre pare to make up his deficiency. The right hon. gentleman came down with the same courage and dexterity which he exhibited in dealing with the budget of last year and deal ing with the budget of this year. Last yea r he astounded the House of Commons by announcing that theyh s a s d to e provide for a deficiency of £ 9 , 400,000, and nevertheless right hon. gentleman proposed to take off taxes that would have increased that deficiency to £12,400.000. He pro vided for that deficiency by the anticipation of revenue from a variety of sources, partly on the faith of £250,000 he received from Spain, and partly from other sources, but principally by the increase of the income tax by a ld., or rather by an increased tax of 10d. in the pound, and this income tax the right hon. gentleman contrived not only to get for four quarters in the year, but he arranged so that five quarters should be paid in one year. (Hear, hear.) That of course was an operation that could not be defended ; and then hon. gentlemen, noble lords, and the public gene rally are looking about saying, " What is the Chancellor of the Exchequer to do with a deficiency of £5,900,000, and many resources wanting to him which he had last year P'' Thisyear the right hon. gentleman says that there is no de ficiency at all, bat a surplus of £1,900,000. He managed the thing as simply as Columbus managed the egg. The deficiency last year was £9,400,000, assuming that the in come tax would fall to the ground, and that tea and sugar duties" would be reduced to their ordinary and normal amount. That was the right hon. gentleman's demonstra tion of last year • but this year he proceeds upon a different assumption—th at all these duties are to be continued— (hear, hear)—and not only to continue, but with the in crease of the penny income tax which the right hon. gentle man imposed last year, and imposed for one year only. and my in of wh ic hl:l nob le x i° (Hear, hear.) If you assume, in the first inFtauce, that taxes have expired which produced between L10,000,00 0 _ and £11,000,000, and thereby showed a deficiency of £9,400,000 in the one year, it is not very difficul to et to the conclusion that if you continue those taxes to e ru us lifts up amount, they will also provide a surplus for th come. (Hear.) And then the House of Comma what a its hands and its eyes in admiration and rliequer is." wonderful man the Chancellor of the ful bod is • what andonder y (Laughter.) But I likewise say d juggled by this the Home of Commons to be cajolp last year and a transparent fallacy of creatingear to nation of an extraordinary pw a deficiency of between a deficien cy ri nitted to say in passing t s h ur a p t l t u h s is th g i i s v y es ea a r. ver l y m ettoy ust ex be p Mat t between an estimate or the Controller of the Exche te e ars discrepancy which appears In qu in er e , and sugar duties, would l oo rooo, =dray noble friend a deficienc £2,000,000 and ( t i he tea xu,000,000. i3ut the solution is this , and of £ 10,000,00 0 or £ ll ,. assumed that those that my noble fri end o b noxious taxes of the additional 1 • b e remove d , I and assume d that they would be continued. Our statements, therefore, precisely tally. We made the and th e y same e stimate, would be perfectly correct if it had not occurred in the meantime that the China war had oome to an end. Consequently it was in the power of the Govern ment and of the Chancellor of the Exchequer to make a re duction in the expenditure, and so give a small apparent surplus. As I said b e f ore I sh a ll assume that the calcula tions of the Chancellor of the Exchequer are all correct, and I shall not dispute whether the £750,500 which he calcu lates on receiving from China is likely to come into the Ex ch-quer or not, or whether he has not made an extraordi nary miscalculation with regard to the military and naval expenditure of the country. I shall take the fact as it stands. Then the question arises how that surplus of two million is to be disposed of to the best advantage of the country. I will assume the version of those who say the Chancellor of the Exchequer has dealt most fairly and im partially in dividing the relief between direct and indirect taxation ; for if, on the one hand, he has taken off the paper duty, he has, on the other hand, taken off an equivalent amount from the income tax.. That is true ; but the relief given, with regard to direct taxation, consists in taking off the individual penny he put on the year before, and the relief of indirect taxation cons sts in denrivLig the country of a permanent source of revenue. (Hear, hear.) lam glad that that gratifies the noble duke opposite—(laughter)—(the Duke of Argyll). I am not going to discuss the merits of the paper duties. I always admitted that it was an objectional tax, and Erne which, with an overflowing exchequer, it might be desire ible to re lieve the country from the pressure of ; but I do not think the repeal of the paper duty will produce those -marvellous effects attributed to it by the noble earl, or that. • it will give that muyellotts relief to commerce or to th e , ,ccullan'"i