The Sun. — London, England, 1863-04-17 00:00:00

fJIONEY MARKET AND COMMERCIAL INTELLIGENCE. CITY, TWELVE O'CLOCK. There is a fair demand for money in the general discount market, but the rates continue easy, 31 per cent. being the usual rate for first class three months' bills. About £9,000 in gold waa taken into the Bank yesterday. The Bank of England return, as expected, shows an important improvement in the principal items. There were many who considered that the directors should have reduced their minimum yesterday after noon, but although the bullion and reserve of notes have been increased, and the other securities have fallen off, there are, no doubt, sufficient reasons for the course pursued. Annexed is our usual analysis : Active Circulation Increase .. Bullion .. .. Increase .. Rest .. • • .. £20,706,780 • • 5,690 .. 15,229,237 .. 265,402 .. 3,094,427 Increase .. Public Deposits Decrease .. Other Deposits.. Increase Seven Day and other Bills .. Increase Government Securities • • .• • • No alteration. Other Securities .. 18,748,232 Decrease .. 972,107 Notes Unemployed .. 8,342,445 Increase .. 273,335 During the last few days there has been rather more activity in the Foreign and Colonial Produce Markets. Tea, however, has been inactive, owing to the large quantity announced for public compe tition to-day and the uncertainty felt with regard to the alteration in the duty. Sugars have been rather largely dealt in at enhanced prices, while coffee fully sustained previous quotations. Rice, fruit, and spices were without material alteration, and tallow continued inactive for both present and forward delivery, being quoted 425. 9d. to 435. on the spot, and 455. 6d. to 455. 9d. for last three months. .. 7,088 .. 5,769,276 .. 944,833 .. 15,013,391 183;559 .. 620;040 .. 41,791 .. 11,129,445 Two O'CLOCK. At the Paris Bourse this day, seem ding to Mr. Reuter's telegram, the 3 per Cent. Rentes were 69f. 80e.—flat. There has been no change in the English Stock Market this morning, Consols having remained at 921 for money, and 92/ 93 for the account. Business, both real and speculative, has been con ducted on a limited scale, but prices are well sup ported by the favourable budget and the easiness of money. The New Threes and Reduced are 912 2 ; Indian 5 per Cents., 1691 ; and Exchequer quer Bills, ls. prem. Foreign Securities have continued to attract attention, and prices have been buoyant. Turkish 6 per Cents., 1862, are 70/ 71; do. Consolides, 481 ; Greek, 28/ 29k; do. Coupons, 131 14; Mexican, 33/ 2; Peruvian, 89 a ; Portuguese, 47./ 48 ; Russian, 951 a ; Italian, 711 4 ; Spanish Pas sive, 291 301 ; do. Certificates, 10/ 8 ; and the Confeeerate Loan, 1 11 prem. Business in the Railway Share Market has been dull, and in some instances prices have slightly given way. Great Easterns, London and Black wall, and London and Brighton have receded 55.; while North Westerns, Midlands, and South Easterns improved ss. The Foreign and Colonial lines exhibit no change of importance. Joint Stock Bank and Miscellaneout: Shares show no material variation in values. . • _ BRITISH FUNDS —CLOSING PRICES. Bank Stock 231 6 3 per Cent. Reduced Annuities 3 per Cent. Consols Annuities 9l 3 New 3 per Cent. Annuities India Stock Ditto 5 per Cent Ditto Enfaced Paper, 4 per Cent .. Ditto 5 per Cent Consols for Account, May 7 Oh 3 Exchequer Bills, £l,OOO 21 per Cent 1 pm FOREIGN FUNDS—CLOSING PRICES. Brazilian 6 per Cent' Ditto 41 per Cent., 1852-58-60 Danish 4 per Cent., 1825 . Ditto 1863 Ditto Scrip, £4O paid 1 pm Egyptian 7 pet Cent 9Bl 78 Ditto, Second Issue - - 971 / Greek 5 per Cent., 1824-5, ex-Coupons.. Ditto Account.. Ditto Coupons I taiian 5 per Cent. (Maremmana Railway) 751 1 Mexican 3 per Cent .... Ditto Account Moorish I m p er i a l 5 per Cent lisw Granada Ditto Deferred Peruvian 41 per Cent. Ditto 1862 Ditto Account B9l 9 1 Portuo b mese 3 per Cent., 1853 Ditto Account Ditto 1862 . 8 Russian 5 per Cent., 1822, £ St 9si ' Ditto 44 , per Cent ~ 1850 Ditto 3 per Cent., 1859 6O/ Ditto 6 per Cent., 1862 Sardinian 5 per Cent. Spanish 3 per Cent Ditto Account . . 6 31 1 Ditto Passive .... Spanish Cert. of Coup not funded Turkish 6 per Cent. 1854 BB Ditto Account Ditto 6 per Cent. 1858 Ditto Account. 6Bl Ditto 6 per Cent. 1852 Ditto Account 7O/ 1 701 1 Venezuela, 3 per Cent Ditto 6 per Cent., 1862 Dividends on the:above payable in London. Italian, 5 per Cent., 1861, Ex. 25 francs.. Ditto Account 7 lB 1 11 THREE O'CLOCK. Consols, Money _ , 92/ Ditto Account 92/ 93 KEATS'S GRAVE AT ROME.—The number of the Atlantic Monthly for April contains, under the title of " Oa the Vicissitudes of Keat's Fame," some interesting recollections of Keats's last hours, and of cot versations about Keats, after his death, with Samuel Rogers, Sir Walter Scott, and others, wiitten by the artist, Mr. Severn, the well-known friend of Keats, who tended him at Rome on his death-bed, and whose portrait of Keats is the autkentio likeness. Mr. Severn, who returned to Rome after an absence of 20 sears in 1861, and is now residing there,. has sent these recollections to the American periodical. The following pas sage about the present state of Keats's grave at Rome will interest here, as well as in America :—" That grave, which 1 can remember as once the object of ridicule, has now be come the poetic shrine of the world's pilgrims who care and strive to live in the happy and imaginative region of poetry. The head-stone, having twice sunk, owing to its faulty foundation, has been twice renewed by loving wrangers ; and, each time, as I am informed, these strangers were Americans. Here they do not strew flowers, as was the wont of olden times, but they pluck everything that is green and living on the grave of the poet. The Custode tolls me that, notwithstanding all his pains in sow ng and planting, he cannot 'meet the great consumption. Latterly an Engli s h l a d y, alarmed at the rapid disappear ance of the verdure o n an d around the grave, actually left an annual sum to renew it.' ' Mr. S evern adds that he is now engaged on a picture of the poet's grave, in which he is introducing suggestions and associations from 44 E n . clymion.' He tells us also that he has renently met Keats's sister in Rome, whom he had known in her childhood, but had not seen since then, though he had heard of her marriage to Senor Llanos, "a distinguished Spanish patriot?' nd of her permanent residence in Spain,—The Reader. ATTEMPTED SUICIDE.—A very singular case of attempted suicide occurred at Nottingham on Wed nesday evening last. Between 10 and 11 o'clock r n the above evening a police-officer was standing near the General Hospital when a man, with clothes dripping wet, and with out a hat, came up to him and asked him the way to the ILftr ala , Y. The officer conducted him to that establishment , and on the way the man, who had a large black beard, sud- ZelY,,stood still before a gas lamp and exclaimed, " Look wh ich the There of was a g a pi ng woun d i n th e throat, from h ad do ue it blood fl owe d f ree l y. The eer asked him who vaaat onee i t and h e coolly repliee, " I did it myselt. " He to. r ho ae alien into the Infirm ar y an d hi s wound attended effect :-....T h : t i Tt he gav e o f hi mse l f was to t h e f o ll ow i ng Tient, b ut the wt e had fir s t o f a ll j umpe d i n t o th e r i ver hint, and h e theno!tes was not sufficiently deep to drown 2i inches in lengtilauflicted the wound on his throat, about best it done he made th e "Tenting, it seems, of what he had be at present rem a i ns of his way t o t h e I n fi rmary, w h ere It 's expected th a t h e w ill recover . Lord Robert Montagu jlntends, on fuesday week, 118 an amendment to with a view to provide for the Eiphinstone's motion, e:oc,,otnsomical construction of ships for the royal navy of the Aitadble forms and ma terials, to move—" That the Board of forms Admiralty should be e mpowered by Parliament to introduce into thepublic s r vice a class of persons equal in education and positionet tilt) military cadets of Woolwich, who (subje . ct to certain regulations and conditions, to be made by or with the sanc tion of the Comptroller of the Navy) may ultimately fulfil th e duties of the loyal naval architects." SHARE Ei,ARKGTS--This day. ORDINARY ST ARES. AND STOuR S. Itailwaya. ' [Hr., Wol., and Str. Val. !Blythe and Tyne. Best.,Sleat.,and !Bristol and Exeter ;Caledonian Cork and Ilan.clon Corn wall Do A A ete illy B tille)pc.pnri.ha, been paid to B. : Dublin & Belfast June. ! Dun,,Perth,&Ab. June. !Edinburgh & Glasgow. Glasg. and S. Western. l Great Eastern, Ord. stk Ditto A stock I Ditto East Anglian std ;GreatNorthot Scotland 'Great Northern ' Do A stock Do B do ,Gt. S. an I W. of Ireland Great Western .. Do Str Val gua. stock Lancashire & Yorkshire London and Blackwall Lon., Bright.,& S. Coast Lon., Chat., and Dover !Lon. SE North Western , Lon. & South Western 1M an., Shef., & Lincoln. Maryport and Carlisle. Do Z shares Afetropoll tan Midland Do New Do Binning. & Derby Nfld. Gt. W. of Ireland Do. shares .Mid Kent Do Cray Line North British Edin., Perth, & Dundee' Nth. Eastern—Berwick Do, G.N.E. purchase Do Leeds Do York Do Carlisle North London Do New North Staffordshire N. and S. W. Junction Scottish Central ,Scot N. E., Aber. stock Do Scot , Mid. stock ; Shrews. and Welchpool Shropshire Union !South Devon (South Eastern South Wales S. York. and River Dun Staines,Wok.,andWok Stockton do Darlington , Do Do New, 1800 Taff Vale.. . Do B Do e Ulster Do D Vale of heath Victoria sta, and Pim t Waterford Az Kilkenny West Cornwall . Hartlepool H ar. ez R West Midland Oxford Do Newport Do Hereford BRITISH P ih STS 100 stk 1 20 Railways t t lantio & St Lftwrenct 204 10 100 1 100 100 3oni.,Baroda,t.Cent Inn Gn. 5 per cent. — Do. New . ••• •• Do. E. Shares... Buffalo and Lake Huron Do. Preference stock stock t3uffalo,Braut,&Godricl p. et. bds. Aug. 1, 1872 Do. do. July 1, 187: )o. do. Juue I, ls;4 stock 100 100 100 100 100 100 100 100 stock 1 uttaat S. Eastn. (1,11 `,apeTown do Dock Seri!' Eastn. Bengal gu. 6 p. haat Indian. au. 5 P. c. stock st st iteck Do. do. -6 do. 11 do. Grand Trunk of Canada no. Ist Pr st. Bonds.. Do. co. deferred...... )0. 2d Pref. Bones.. Do. do d ler - ed...... Do. 3d P ef. stock ... Do. do. &tem Do. 4th Pref. s o k... Do. do deferred...... Gt.lnchaPentn.gua.sp.c Do. New gua. 5 p. c... Do. January, 1862 .. South.of India(Lim guaranteed 5 per cent. Gt. W. of Canada Sharek ISSR Pald. SIONS. Closime Price. 62 61 1071 II 83 1 16 p 1 4f ' lo 1 p 76 8 100 100 100 100 100 100 1, 6 1(8 108 110 108 f g ttgi lb 1 p 19i o }i 62 66 , 9 60 54 67 40 , t 5 :17 42 32 ?6 23 26 20 23 1194 111 1 lip 1 lip Do. New Do. 6 p.c. '73 with't opt. Do. 5i p. c. do. '77-5.... fndian Branch Limited Madras, guar., 5 p. 0. t . Do. 4¢ p. o. Extension Dc. 4. d 0........ 106 ICS 12} i2l sa 8 100 102 91 93 1 i 10 0 / i Io7 p i 701 103 47 9 Do. Fifth Extension. Ntelb.('orp. S p.O. Bnds, Helb. & Hobson's Bay. Do. 7 p. c. Mortg. Bd4. Nlewßrunswick Candt, Class A an I B ... N.lll.C'da6 pc Ist pi bds Scinde .......... Do. Delhi i • Do. do Do. Punjaub r .0. Do. o. Do. Indus. St . Flo.) 47 49 all NO (100 i 100 2 15 100 00.0 3 6 O r 2 1(8 iog 111 IC9 4 _P IC6} 1674 IC4 COLONIAL GIVER. MEN 6 p.e.J a. &J ul7 :—. 1677-St Do. 6 p. c. Feb. & Aug "--; • Do. 6p. 0.31 ar. & Sept p. c..Tan.&July. , Do. 5 Inscribed stock 'apeG.Flope, 6 p —!‘ Do.Ap & Oct 188( Do. .18S - 'DO. Jan. & July, 1691.. 'Ceylon, N0v.1841, 6 p 3isut Ulna 4 per cent .. Business don• , Na`fil Gov. 6per cont.. -= ' N.8.G0v.6 t Do. 6p. c.Ap. & Oct. N. S.W. Gov. 5 p 1,18 - Do. sp. c.,18,. I';7f Do. d0.,1888 dzupwds - tigw Zealand 6 p cent. .Nova Scotia Gov. 6p. c. L atexiing 1875. ,Queensland Gov. 6p. c. Aug G6p.c.1678.,t up.. Vte,.Gov. 6 p.c. Ja.,4Jul) —• Do- to sp.c. An..17:00k. 100 100 100 100 100 1081 1081 110 91 616 631 1101 108} 1' RECURITT-RS. 105} 1014 103 its 103 105 05 96} 94 46 110 112 111 113 111 113 113 115 1 111 U 3 169 110 It 5} log; 96} 62 112} 1014 1024 101 i 1024 1014 1124 110 112 BRTTISH NIT 100 107 :1 113 111 113 [O9 110 09 109! 1021 101; 1091 t 2 , Cambrian Consol. Gold s 1 4 Id !,,iitiora Amalgamated 20 22 9evon G. Cons. (Taoist 1 515 :525 li:ast Bassett (Illozan). 30 84 87 1 East Cloga u Gold Ltd. - Is. id p East Caradon ..... 2.14., 42 42j lEast Carn Brea.... . . 3.1.0 85 9 E. W'l Russel (Tavistk., 8.1.6 4 4 ) Gam..tSt.Aunyn(Gwen.; 14 16 (3 reat South Tolgus 17s 55 5t T. Wheal Vor(Helsten lo 64 7 Grenville ilerod's- Foot I 8.12 46 48 , tingston Downs 4. 7.0 24 21 Lady Bertha - 41argaret (tiny Lelant 19% 34 36 11arke Valley.. 1 qyndy Iron Ore (Lim 2l 1 d New Setun .. 191 130 140 North Downs 24 25 3 WWI Basset (111o4au 2.17.( , 4 44 corth Wheal Crotty ()sr Consols (St. Blazey 14 44 55 20 ''rovidence(Uny Lelnt.; 10.6.7 40 42 South Caradon(St.Cleer, 14 395 405 400 S. Cara Brea (Illogan) 5.15.6 24 • •7:.li'heai Fran. (Mogan; 18.1 , 9 87 i 92 * Stray Park 5 famar Silv.& Lead Min. 44 t 1 10 lin Croit 9 215 22 214 West Basset (Illogan) l4 12 13 124 W Caradon (Liskeard 5 32 34 West Seton 11 - heal Basset (Mogan 14 (.74 724 Wheal Buller( Itedruth, 5 58 62 Wheal Kitty (U.Lelant; 2.0.6 WhealLud:ott SlaryAnn(3len ) 8 154 164 Wheal Seton 584 215 255 .3. heal Treiawney (Las ` 7 7 175 Wheal Union ' 3.17 • 44 51 PREFERENCE SHARES. Great Eastern, E. Counties, Ext. No. 2, 111 104 Great orthern, 4i per cent., red. at 10 per cent. pm., 1031 4 Gt. Western ( • erks & Hants Ext.), 44 per cent. red., 99/ London, Chatham, and Dover 5 per Cent. pref., VOI North Eastern (G.N.E. 4 per cent. pret.), uti PREFERENCE SHARES AND STOCKS. Great Eastern, 5 per cent., pf., 95' London, Chatham, &c , 6 per cent. 2d pf., 80 LINES LEASED AP FIXED RENTALS. Chester ;,nd 110 yhead, 5 per cent., 1141 Hull end Selby, 110; Lancaster and CarPsle, 206 5} FOREIGN RAILWAYS. Antwerp and Rotterdam, si Bahia and San Francisco gua. 7 per cent., 2i I , Copiapo (Extension), 4 Great Luxembourg, 141 amur and Liege gua. 14f. per annum, 81 Namur and Liege, gua. 6 per cent. pf., 21 Northern of France, 41t ban Paulo :lira.), gua. 7 per cent. (all), 231 West Flanders, 5j per cent. pf., 11 itat. P : St. tam r de , tani Nor h Santa B a r bar a litfterl; FOREIGN DRey 1 MINES. (441 tm 3 . r ) i , n s e 4A n 2 2 14 , , Port Plaiiiiim .)' 51 4t O°Y t rn AustrsUa (lira% 3 4 . . s A Al n l a ir o ce r B JOINT-STOCK IiANKS. ,-. Drank uese don and Liverpool (Urn.), 29 Australasia, 72 (lira% 2* Bank of Egypt, 291 ,„,,, Bank of London, 116 . r Bank of Wales, 2 Chartered Bank of British C ii,,,,,, a, 9i Chartered Bank o. A of India, , °- n City, 94 55 netraita , and China, 251 6 6 6i f English and Irish (Urn.), svg Eng., Sco'., and Australian Chartered. 22 London Ch trtered Bank of Australia, 28* London and Comity, 43/ London and South African, 281 i London and Westminster, 77i Oriental Bank Corporation, 54* Provincial of Ireland, 89 6 Scinde, Punjaub, and Delhi (lim. ) , 2i South Australia, 38 Union of England and Franco (lim.), 32 Union of London, 34L DOCKS. London, 57 MISCELLANEOUS. Berlin Water Works, 91 9 1 81 Crystal Palace, (3 per cent. perpetL deb., 114 Electric Telegraph, 10111 Joint stock Discount, 21 London Gem ral Omnibus Company (lint), Quebrada Land, Rail, aua Mining (iim.), 21 Rio de Janeiro City Improvements (lim.) (.£2`, Governor Hamilton and Mrs. and the Misses Hamilton have arrived at the Brunswick Hotel, Tempi tstreet, from Paris. The theatrical journals announce that Count Walewski, Minister of State, has granted a pension of 2,000 f, to the son of the late M, Bocage. Bushiest. Paid Pn. , ce. i dens 8 8} 7 8 84 €6 112 113 64 7 40 42 13 14 89 91 167 109 52 53 15 47 241 25i 1201 12111 120 121 ' 134 136 100 102 66-1 (6f 108 1081 754 ;65 115 116 39 40 9i4 98i 101 102 44 45 12i 12} 123 123; 1} Iba 91 93 50 51 24 25 98f 991 55 65} 66 66i 116 118 1 1 1 s 161 161 11,E 12 120 122 43 14 98 IGO 48 CO 32 33 92 82i 67 G 9 99 101 7 8 87 38 9 10 ID 7 ]5 153 t 4i 5 2 31 p 79 81 154 156 28 30 434 444 P 6 38 98 100 52 1 I .1 461 1201 101 66! 1081 75t 115 391 40 924 81 1011 441 121 123 99 84 5 5 2 - ii Ifi 16 THE SUN; LONDON, FRIDAY EVENING, APRIL 17; 1863. IMPERIAL PARLIAMENT HOUSE OF LORDS—Last Evening. The Lord Chancellor took his seat at the usual hour. PETITIONS. Lord COLVILLE presented a petition against the sale of intoxicating liquors on Sunday. Lord CHELMSFORD presented a petition against the viaduct which the London, Chatham, and Dover Railway proposed to erect across Ludgate-hill. The noble lord said the proposed erection was uncalled for, that it would lead to great inconvenience, that it would be un sightly, and that it would shut out the only view which could be had in that direction of St. Paul's Cathedral. As the company had come to Parliament for further powers and an extension of time, he thought it would be unwise to let such an opportunity slip as now presented itself of pre venting the work being carried into execution. It would be a great hindrance to business, a complete eyesore to the me tropolis. The company proposed to construct a portion of their works after Ludgate-hill had been crossed by tunnelling, and he thought it quite possible that instead of a viaduct, the object of the railway company could be effected by commencing the tunnelling before it came to Ludgate-hill. PRIVATE BUSINESS. The Fochabers and Garmouth Railway, and Cork and Kinsale Junction Railway bills were read a third time and passed. ALKALI WORKS REGULATION BILL. Lord STANLEY of ALDERLEY moved the second reading of this bill, the objct of which was to make it compulsory on the part of owners of such works to take steps and make such arrangements as would prevent the escape of muriatic gas which created such injurious effects to property and the inhabitants situated in its vicinity. The bill made it compulsory on all owners of such works to effect such alterations as would be deemed satisfactory to an inspector to be appointed by Government, whose duty it would be to see that the injurious gas was condensed at 95 per cent. In the event of non-compliance, the measure laid very heavy restrictions on the owners, and also a fine of £2 per day for every day that the nuisance was allowed to exist after conviction before a magistrate. The works were also to be subject to visitation by the Go vernment inspectors both day and night. He hoped the house would agree to the present bill ; and if it was thought proper to deal with other works, that it would be done by a separate measure. The Earl of DEBBY said the bill to a certain extent embodied the recommendations of the committee which had lately investigated the subject, but he should have much wished that, in addition to alkali works for the manufac ture of sulphuric acid and ammonia alum should have been included. He should not oppose the second reading, although he thought there would be a great deal of danger in applying it as a remedy for so great an evil. (Hear.) He approved of the appointment of inspectors, because although the evil might be mitigated during the day when it would be palpable, during the night the noxious vapours might be emitted, and thus defeat the intentions of the Government. lHe should like to know whether the inspectors were to be the only parties entitled to sue for penalties, because, in the event of that being so, and the district of each inspector being of great extent, it would ba impossible for them properly to execute their duties, because it could not be expected that they should be present at more than one place at a time. The committee to which he had alluded re corded that any person might sue for the penalties, and he thought that course a much better one than that proposed in the measure at present before them. The penalties he considered rather peculiar, for the first offence the owner of the works to be fined £5O; for the second £2O ; and for every day the nuisance was continued after conviction £2 a day. He thought that the penalty for a second conviction was generally larger than the first ; and as to the infliction of £2 a day, he thought it would be found that some of the manufacturers would submit to the infliction rather than go to the expense of making extensive alterations. Earl GREY said what was urgently required was some general law which would enable persons who suffera d from nuisances of every description to proceed against the parties by whom he had been injured. He did not object to the present bill, but he should have been pleased if the measure had been more extensive. Lord WODEHOUSE, as a member of the committee, defended the course pursued by the Government with re g 'rd to the bill. Lord STANLEY of ALDERLEY promised to consider the various suggestions, and try to make the measure more perfect in committee. After afew words from Lord CHELMSFORD, The bill was read a second time. COURTS OF THE CHURCH OF SCOTLAND BILL. Lord HAMILTON moved the second reading of this bill. The Earl of DALHOUSIE offered several objections, after which the bill was read a second time. THE MUTINY BILL. On the - motion of Earl DE GREY and RIPON, this bill was read a third time and passed. MARINE MUTINY BILL. 1 n4h yrs e. In Sc' h .4,t 0 0 1511311700 MIT, ti r, till was read a third time and passed. GR BECE. The Earl of MALMESBURY rose to inquire of her Majesty's Government what was the present state of the negotiations respecting the crown of Greece and the c -s -sion of the island and fortress of Corfu in that country. He said it was time their lordships should receive some information upon those subjects. He thought the conduct of her Majesty's Government had been most disrespect ful towards the Crown and the nation in making use of Prince Alfred's name as a means of checking the candi dature of the Prince of Leuehtenberg. They had, in fact, made use of Prince Alfred as a " dummy," or man of straw, which was disrespectful to the Prince, to the Queen, and to the country. (" Hear, hear," from the Opposition, and ironical laughter from the Ministerial benches.) Two other Royal personages had been sub sequently put forward—the Prince of Saxe Coburg and the King of Portugal—both of whom had, it seemed, been proposed to the Greeks by her Majesty's Government, without ascertaining whether they would accept the crown if it were offered to them. This was treating the Greeks badly. The Greeks had not acted with proper fore thought. They had not followed the example of their great masters in the art of revolution—the French—who, in all their violent changes of government, had the man ready be. forehand who was to supersede the rejected ruler. The Greeks had, on the contrary, depreciated themselves. They had no man of their own nation to put forward, and they looked to other countries to supply them with a king. After the Duke of Saxe-Coburg had refused the crown, the noble earl—who seemed to have stood at the door of the Foreign Office with the Almanack de Gotha in his hand—selected the Prince William of Denmark, second son of Prince Chris tian. And he wanted to know whether the noble earl had obtained the consent of the Princes and of the King of Den mark before he proposed the Prince William to the Greeks. The great Powers who had signed the treaty of 1852 settling the succession to the throne of Denmark had a right to be consulted in the matter, seeing that the King of Greece should at least consent to have his children brought up in the faith of the Greek Church, which would bar their suc cession to the Danish throne. His first question therefore was, whether or not the noble earl had proposed to Prince Christian that his son should be recommended to the Greeks as their king; and whether he had also consulted the Danish Government, and whether they had approved of the mea sure before the Greeks had been called upon to elect Prince William of Denmark as their king. His second question re lated to the cession of Corfu to the Greek Government. The present state of Greece was most dismal. Industry was paralysed, commerce was degenerating every day. The country required peace to establish itself, and the best course for it would be to he a neutralised state. It otrzht not to have either armror navy. In that case it might obtain mo; ey; but the possession of Corfu, which was a military fortress, would give it the appearance of an aggres,ive power. He therefore asked, did her Majesty's GovernMent propose to give up Corfu to the Greeks ? Earl RUSSELL said that, with regard to matters still under consideration, he could not reply to the questions put ro him ; but he would answer as plainly as possible to the rent of the noble earl's inquiries. He could not assent to the censure passed upon the Greeks. He thought they had acted with great prudence. They could not live any longer under under King Otho's Government, and they re• moved him. With that no one had any right to interfere or complain. Her Majesty's Government had warned King Otho's Government that such a catastrophe would be litely to occur unless the system was changed. The people of Greece were very much blamed by the noble earl. They wore said not to have shown the wibdom which the French had exhibited—but, remembering the history of the French revolutions, and especially that of 1848—when a King whose faults it would not be very easy to point out was overthrown—he (Earl Russell) could not agree with the noble earl. The Greeks wanted a King and a constitutional monarchy. He thought they had shown much wisdom. (Hear.) They had chosen Prince Alfred. and it might have thrown them into a state of anarchy if the Prince had been at once refused to them. By giving them a little they had consolidated public opinion, and when the proper time ar rived the protecting Powers informed them that none of the Royal families of those Powers were eligible. He agreLd that it was necessary that Greece should be a peace able State. As to Prince Christian's son, he had directed the British envoy at Copenhagen io ascertain from the King whether his Majesty would have any objection to the acceptance of the Crown of Greece by Prince William, and he had received an answer that the King would have no objection. When the proper time arrived he would lay before the house all the correspondence upon the subject, and their lordships would then see whether or not he had done anything undignified or unbecoming a member of her Majesty's Government and a Minister of a free country. (Hear, hear.) He communicated with the British envoy ha Greece. The Greek Govern ment communicated the name of Prince William to the Assembly, and they at once unanimously and by acclamation elected him King. The claim of Prince William was cordially supported by the Emperor of the French, and they expected no opposition from Russia, so that he had the assent of the three protecting powers. As to the question of the lonian Islands, the noble earl had gone into it as a person who was not so well informed miEht be expected to have done. The noble earl knew very well that in 1815 the protectorate of Great Britain over the islands had been constituted. The islands themselves were consti tuted a republic, free, and only under the protection of Eng land. Count Capo d'lstra was most:anxious that he should represent Greece. there being no other representative of Greece at that tine. In no sense were the islands the pro perty of Great Britain, or in posseEseion of her Majesty's Government; and it would not be becoming in the Govern. ment to refuse the Icnians if they expressed a wish to be joined to the newly organised kingdom of Greece. As to Corfu, of course, it would go with the other islands. There was no right in her Majesty's Government to keep it as a British possession. He felt that by thin cession and the course they had pursued her Majesty's Government would contribute largely to the future happiness of Greece. The Greek people had great talents, and if they exercised them under increased advantages, and became prosperous, her Majesty's Government would have reason to rejoice, The Earl of DERBY said that the noble earl had avoided the question pressed upon him by his noble friend. The question was, whether the noble earl had ascertained, before he proposed Prince William to the Greeks, that the Prince, with his father, and the King of Denmark, were willing to accept the offer of th e crown'? As to the lonian Islands, more than the wish of the lonians would be necessary to justify the cession. The consent of the great powers shculd be obtained. Earl RUSSELL --That i 4 what 1 have said myself. The Earl of DERBY—But, then, hai the noble earl taken measures to obtain their consent ? In another place it had been stated that the Austrian Government had protested against the measure. He (Earl Derby) thought it would be a dangerous experiment, and that her Majesty's Government had acted with great rashness with regard to the nomination of the Sovereign of Greece and the cession of the lonian Islands. Earl GRANVILLE defended the conduct of the Govern ment and of the Greek people, upon whom, he thought, the two noble earls opposite had cast most undeserved stigmas. As to the French revolutionists, they had no one ready at the first great revolution ; and at that of 1848 the very last thing that entered the minds of the movers of it was, that tho present Emperor would ever be at the head of affairs. (Hear, hear.) The noble earl (Russell) had received the consent of the King of Denmark before the name of Prince William was submitted to the Greeks. After a few brief remarks and explanations between the Earl of MALMESBURY and Earl RUSSELL, the subject dropped. THE LTJDGATE-HILL RAILWAY. Lord CAMPBELL asked the intentions of the Govern ment with regard to the Ludgate-hill Railway. Earl GRANVILLE said that the question would be answered by the motion he was about to make. He then moved for the appointment of a select committee to inquire whether any, and if any, which of the schemes now before Parliament for the construction of lines of railway within the limits of the metropolis could be proceeded with in the present session without the risk of interfering with the future adoption of a comprehensive plan of metropoli tan railway communication, and to consider what pro vision could be made for the securing such a compre hensive system, with the greatest advantage to the public and the least inconvenience to the local arrange • ments of the metropolis. After a brief discussion, the motion was agreed to. Their lordships ajourned at ten minutes before eigh o'clock. HOUSE OF COMMONS —Last Evening. The SPEAKER took the chair at four o'clock. THIRD READINGS. The following bills were read a third time :—Bala and Dolgelley Railway—Caledonian Railway (Improvement &c.)—Flint, Holywell, and Mostyn Roads—Great Wes tern and West Midland Railways Amalgams• tion—Great Western, West Midland, and Soutb Wales Railway Companies Amalgamation--Guild ford and Leatherhead Railway—London, Brighton, and South Coast Railway (Dorking to Leatherhead)— Lon don, Brighton, and South Coast Railway (South London, Tooting, &c., Junction Railways) —Maidstone Water— Manchester Corporation Water—Mercantile Marine Ser vice Association, Liverpool—Ogmore Valley Railways -- Peterborough Cattle Markets—Saint Luke's (Middlesex) Workhouse and Vestry Hall—Southampton Port, Har bour and Pier. The following bills were considered and ordered to be read a third time :—Evesham and Redditch Railway— Farness and Midland Railway. LONDON AND SOUTH-WESTERN RAILWAY BILL. Mr. H. MILLS objected to proceeding with this bill, on the ground that the company did not do its duty to the locality, actually putting the inhabitants of Egham and Staines to 6s 6d. expense to telegraph to London (21 miles), whereas the people of Leeds and Manchester could commu nicate with London for ls. (Hear.) He moved that the further progress of the bill be postponed until to-morrow. — Agreed to. ATTENDANCE OF H.R.H. PRINCE ALFRED AND PRINCE LOUIS OF HESSE. At a quarter after four their Royal Highnesses were usuerea into the Peers' Oafiery, ana too' up rneir pursuani immediately in the centre at the back of the clock. The CHANCELLOR of the EXCHEQUER entered the house at 25 minutes after four. At this period the house—espe cially the Opposition benches—was exceedingly full. Every seat in the Strar gers' Gallery was fully occupied, and the Members' Gallery, opposite the Government benches, was nearly filled by hon. members. THE DISTRESS IN THE COTTON DISTRICTS, Mr. FERRAND gave notice that on the 27th he should move that it is the duty of the Government to take into consideration, without delay, what measures were neces sary to relieve the distress prevailing in the cotton districts SEIZURE OF THE ALEXANDRA. Mr. HORSFALL gave notice that to-morrow week, on the motion for going into committee of supply, he should call attention to the seizure of this ship. In reply to Lord A. CECIL, Sir G. GREY said detectives had been employed by the authorities of Liverpool to watch the conduct of Confede rate agents in London suppsed to be engaged iu the con struction of Confederate ships. No " spies" had been em ployed by the Government. THE BUDGET. The house having resolved itself into Committee of Ways and Means, Mr. MAssair in the chair, The CHANCELLOR of the EXCHEQUER rose, amid loud and general cheering, to make his financial statement for the year. The right hen, gentleman spoke as follows : Sir, the causes which have during recent years attracted an unusual degree of interest to the annual financial statement are not of such a nature that any well-advised lover of his country should desire them to be permanent. They may be summed up thus—that the few years which have lastpassed have been years of unusual pressure upon our resources, and that times of unusual pressure are necessarily times of unusual anxiety. That anxiety during the course of last session found irs most legitimate method of expression in a resolution of the House of Commons. In that resolution her Majesty's Government found it declared by the house, the legitimate organ of the sense of the country, especially upon such a subject, that while it was the desire of the house--1 am not now quoting the words, but referring to the spirit of the resoluticn—that ample provision should be made for the honour and security of the country and for the efficiency of the public service, it was likewise the feeling of the house that the burden of tax-ttion was inconvenient, and that efforts ought to be made by the Executive Government to afford relief to the people in that respect. Therefore, sir, the statement which I have now to submit is not merely a statement of the annual account and estimate of receipt and expenditure, but it is likewise, I may presume to any, the answer of the Government to a solemn, deliberate, and I believe I may add, a unanimous resolution of the House of Commons. (Hear.) And, sir, it is well the people should understand what the Government by the mouth of my noble friend the First Lord of the Treasury fully acknowledged, that that resolution was not premature, but on the contrary, was well founded and justified by the circumstances of the case. It is well they should understand how rapid, how peculiar, I will venture to say how Exceptional, has been up to a certain point the growth of our expenditure, and how much of it was to be desired, and, indeed, required, in the interests of the public that particular attention should be paid to the subject. The expenditure of the financial year 1858.9, which followed the Russian War, was an expendi ture very considerably exceeding that which had prevailed before the Russian War. It amounted to £64,664,000 ; but in the year 1859-60 the expenditure increased to £69,502,000, showing an augmentation of £ 4 ,838,000. In the year 1860-1 it rose to £72,842,000, showing an augmentation within two years of £8,178,000. (Hear, hear.) The average of the fou r years, from 1859 to 1863, which I take because they are the years to which the general description of the rapid growth and augmentation peculiarly applies, was £71,195,000, in cluding the amount laid out in fo rtifications, and £70,678,000 without the fortifications. The increase upon the aggregate occurred at a time when we had been enjoying a peculiar relief from expenditure in consequence of a diminution Of more than £2,000,000 on the charge of the National Debt, owing to the lapse of Long Annuities. Now, Sir, it may bring this statment and the state of facts which it is in tended to illustrate more clearly and fully to the mind of the committee, if, instead of comparing the aggregate ex penditure at two periods, I compare that portion of the ex penditure which may be said to be m a tt er o f option and choice on the part of the Legislature, because a la-ge part of the expenditure of the country—first of a ll, th a t w hi c h is devoted to the payment of dividend on th e N at i onal Debt, and, secondly, that which is devoted to the discharge of other engagements placed upon the C onso li dated Fund—is not in point of fact practically within the control of Par liament from year to year. There is another important item—that, namely, connected. with the c o ll ec ti on o f th e revenue—which is regulated invariably by certain fixed rules, and does not partake of the remarkable upward movement to which I have referred. I wi s h to say that these two items are items which it is de sirable to exclude from the account. I desire, therefore, to state briefly to the committee what wee the growth of our expenditure at the period to which I have referred. After striking off from the total the two very important items, and the only two of great consequence, which may be re• according to certain garded either as Axed or as varying constant rules—namely, the interest of the debt and the charge of between 4000,000 and £5,000,000 for the collec tion of the revenue, in the year 1858-9 our expenditure— that opinion in the country and upon the vote of Parliament— was £31,621,000. In the year 1860-1 it had risen to £42,125,000. There had been an increase of £10,500,200, or about 25 per cent., in two years only. If we make the com parison with the year which immediately preceded the Rus sian war, it is still more remarkable. In the year 1853 4 the optional part of the expenditure of the country—the com mittee will understand the sense in which I use that epithet —was £23,511,000. In the year 1860-1 it was £42,125,000. (Hear, hear.) The increase in a period of seven years was £18,614,000, or more than 80 per cent. That, sir, was the state of facts which attracted the particular notice of the House of Commons last year. Let it not be supposed that in mentioning these facts I mean to imply that that in crease was a causeless increase. The causes are well known. They are subject, I believe, to little controversy or dispute. There were the extensive and costly transformations which were required by the progress of military and naval science, There was also the progress of philanthropic views in re gard to the condition of those who serve their country, which had led to great expenditure, but an expenditure grudged, I believe, by none, with the view of adding to the well-being of these services. There was a great increase of our military establishments, having refer ence in no inconsiderable degree, as must always be the case—such is the sympathy that now prevails between nation and nation—to the like increase of military establish ments abroad, and to the general circumstances of Europe. There was a desire in which, I think, the public, whether unanimously or not I do not say, but in which they very generally partook—namely, that the fixed defences of the country should be strengthened. And, lastly, there were in 1860-1 direct war charges which came to a very considerable amount. I should not do full justice to the circumstances of the case if I did not add that while these causes prevailed another cause came into operation which is quite sure to appear whenever, from whatever reason, a vast and sudden increase of expenditure takes place. I mean that together with the increased expenditure itself there grows up what may be called a spirit of expenditure—(hear)--a desire per vading the country, insensibly and unconsciously, perhaps, but yet really affecting the spirit of the people, the spirit of Parliament, the spirit of the departments, and perhaps even the spirit of those who are most immediately responsible— : a spirit of expenditure and some relaxation of those prin ciples and rules of prudence which direct and require that whatever service is to be performed for the public should be performed in the most efficient manner, but likewise at the lowest practical cost. (Hear.) bir, it is not on the part of the Government that I make that statement, All I have to say on the part of the Government is this—and it may be said without reproach to any other body or any other Power —that I do not think that in proposing to Parliament the out lay of these vast sums her Majesty's Government in the slightest degree outran the general state of public opinion and conviction, but if it were necessary it could be proved from the annals of the time, and in particular, perhaps, from the annals and journals of this house, that instead of having outrun the course of opinion their proposals rather fell some what short of it. But the effect of all this has been that the finances of the country have been kept in what may be called a state of tension for a period of four years. And having spoken thus far without reference to the special part taken by any organ of the State in regard to this expendi ture, I do not hesitate to make the admission that that ten sion was in reused by the policy pursued by the Government and recommended by them to the House in the year 1860. For one result of introducing in a period of high expendi ture a policy involving remissions of taxation, although it might have been warranted under the eircumstances, was undoubtedly to produce an increase of that tension and a necessary aggravation of whatever solicitude might have prevailed in respect to the condition of our finances. Well, that is the general position of affairs anterior to the state of circumstances which I have to describe to-day. And in now coming to consider the balance-sheet of the year just expired, which I have to submit to the committee, I must beg hon. members to remember the peculiar terms in which the estimates of last year were presented, because I do not think it possible to form a just appreciation of the real con dition of the country, or of the power and elasticity of its resources, without taking those particular circumstances into view. The mere figures of a comparison between one year and another, in the first place, requires to undergo a careful analysis before we can arrive at sound conclusions ; and, in the second place, they require an accurate regard to be had to the main circumstances determining the commer • cial and material condition of the nation before our conclu sions can be such as will be fully sufficient to warrant any course of policy which we may seek to found upon them, Sir, I submitted the estimates of last year to the House of Commons on the part of my colleagues, and speaking their sense, with particular reserve. Wo are able to present only estimates of income and expenditure which may be said to have precisely balanced one another, and we were compelled to accompany the presentation of that too nicely balanced statement with a reference to the particular causes which we thought it was obvious might disturb, and fatally disturb, that balance in an unfavourable sense. The account of receipt and expenditure for the last x,ser which Iva hnsra now in Inuit, vrnri to nrmoiri4v. tr. T I hint , a remarkable and hopeful account. But in order to judge whether it is really, and how far, remarkable and hopeful, it is absolutely necessary to have regard to the specialities in the state of the country. I don't now refer simply to the fact that the harvests have now fur a series of three years been in no instance equal to an average yield; but I refer to two causes, both special, and both of which, also, as it hap pens, have been mentioned in the short conversation which preceded the n,mmencement of our principal business to night. There is, in the first place, the condition of the Lan cashire cotton manufacture. Towards that Lancashire to which up to this time every Englishman has referred, if not with pride, yet with satisfaction and thankfulness, as among the most remarkable, or perhaps the very most remarkable of all the symbols that could be presented of the power, the progress, and the prosperity of England—(hear, hear)—to wards that Lancashire we feel now more warmly and more thankfully than ever in regard to every moral aspect of its condition, (Cheers.) The lessons which within the last 12 months have been conveyed, if in one aspect they have been painful, and even bitter, yet in other aspects, and in those, too, which morn intimately and permanently relate to the condition and prospects of the country, have been lessons sueh as I will venture to say none of us could have hoped to learn. For, however sanguine may have been the anticipations entertained as to the enduring power and pluck of the English people, I do not think that any one could have estimated that power of en durance, that patience, that true magnanimity in humble life, at a point as high as we now see that it has actually reached. (Cheers.) But, sir, with respect to the material condition of Lancashire, no doubt for the time the tale we have to tell is a melancholy one. It was my duty, so me nacing did we regard the state of the case 12 months ago, to state frankly to the Committee, in presenting the Estimates of the year, that vie had before us a deficiency in the supply of the material of labour in Lancashire of so alarming a character that if it continued throughout the year wecould not presume to say that our estimates would be justified by the result; that the case was so serious that it was useless for us at that time to pretend to ask the house to make such provisions as might be adequate to the calamities which were impending over us; and that consequently we thought it best to wait for the teaching of experience, and to meet the evil when it arose. Now, the anticipations of that evil were founded on the supposition that the scarcity would continue at the point which it had then reached; but what has been the fact ? The scarcity has not only continued at that point, but, unhappily, it has proceeded much further. The price of cotton, which I quoted to the Committee last year as having been in the spring of 1861—the price of those which are commonly taken as the average descrip tions of American cotton—viz., the Upland and the New Orleans, which in the spring of 1861 had been between 7d, and Bd. per lb., had risen at the time at 'which I spoke to between 13d, and 14d. per lb. And that NI as the state of things which we regarded as so formidable to the revenue of the country. But in the course of the last autumn that high price was nearly doubled, and at this very moment, as I find from the latest quotations, the price of the cotton required to carry on our manufactories, and which usually sells at 6d. or 7d. per lb., has risen to 24d, and 25d per lb. (Hear, hear.) So that the calamity which has be fallen Lancashire, viewed in its material and com mercial aspects, has not only continued at the point it then reached, but has become far more severe. It has attained, undoubtedly, a degree of the most afflicting strin gency; and the partial and temporary mitigations which have arisen —and, thank God I they have arisen—during the last few weeks, do not, I am afraid, warrant us in enter taining any sanguine hopes for the immediate future. And yet it is with, I may almost presume to say, the wealthiest portions of the country, and with perhaps the very wealthiest portion of its labouring population, in that condition of prostration and stagnation that the balance-sheet which I am about to present to the Committee has been arrived at. The other special cause of depression is one which has been little mentioned in the house, but it is one which I think the committee will agree with me I should'not be j u stified_ in altogether overlooking,—it is the state of Ireland, _enl and ,e very much doubt whether the British pub lic has I awakened to the depression which during the las t rn f . evi That has befallen that portion of the United King"_ vo 10 That depression is no doubt partly balanced by the fm our condition of the linen manufacture, and is like ot co ncentrated and driven to an extremity at a local point, the distress in Lancashire. It is diffused o ver the surf ace of the country, its extent is as broad as the agricultural area, and it is ex clusively connected with the failure of the crops. But it will be a matter of peculiar interest to the committee to receive the with information w hi c h her Majesty's Government have regardre ceived to the extent of the failure in Ireland of late years. (Hear.) Her Majesty's Government have caused statsnients to be carefully drawn up, as far as they are able, to exhibit the facts of _the case, and I need hardly remind English and Scotch members that with respect to Ireland they have the peculiar aid of a very highly organised and elaborate system of agricultural statistics carried on by pu bli c authority. (Hear, he ar .) I shall avoid all details; it is enough for me to present a single statement,only en d ea vouring to con vey to the committee a clear view of the basis on which it is founded. The statement refers to the crops of the last three years, 1960, 1861, and 1862, and the standard of comparison is with the crops of the preced- ing four years, from 1856 to 1859. Up to 1859 we have the ' consolation of believing that the state of Ireland was one of steady and even of remarkable progress. In 1859 that pro gress was materially checked, but still the four years I take as representing what I may call the normal or average con dition of Irish agricultural wealth are from 1856 to 1860. The mode of estimating has been this : the three principal crops are taken—the oats, wheat, and potato crops —and ' then an attempt is made to estimate the value of the residue of the principal agricultural products of the ground by es cortaining the number of the head of stock, valuing them at the prices which are known to have ruled during the period, and assuming that one-third of the total value of the stock of the country represented the annual return of stock. That may be perfectly correct or slightly incorrect, but at any rate it seems quite sufficient for the purpose of compari son. Now the amount of these four items—the oats, wheat, potato crop, and one-third of the annual value of the live stock—in this country was, from 1856 to 1860, on an ave rage, £39,437,oooperannum. In 1860-61 it fell t0i34,893,000 , a decrease of £4,550,000. In 1861-62 it fell to £29,077,000, a decrease of £10,360,000. In 1862.63, low as was the previous point, it descended yet lower, and fell to £27,327,000 from an average of £39,437,000, showing a decrease of some what above £12,000,000, nearly one-third of the total value of the estimated agricultural products on the prin cipal items or constituents of agricultural wealth, and not very far short of the full amount of the established annual valuation of the country, which is £13,400,000. Now, that was a very remarkable state of circumstances in Ireland, and I may mention, as a fact, in all cases the first effect of pressure on the labouring classes is to tell on the consumption of strong liquors. It was no wonder that under these circumstances the consump tion of spirits, which in Ireland was in 1861-62 2,463,000 gallons, fell in 1862 63 to 2,292,000 gallons, a decrease of 171,000 gallons. Now, the operation of these two special cases, the one in Lancashire and the other in Ireland, must certainly be to deprive the revenue of the country of a very large amount which under other circumstances it would have received. It is not for me to estimate that amount ; but it is quite essential that we should bear circumstances of so unusual a character in mind when we form our judgment on the actual revenue and expenditure of the country dur ing the year just expired. The expenditure during the year that expired on the 31st of March last was es timated at, and the amount for which provision was made by Parliament was, £70,040,000 ; it was afterwards raised to £70,108,000. The actual expenditure was £69,302,000 —less than the estimated expenditure by £806,000. There is very little to call for observation here. lam happy to say there were no supplementary estimates. There was an excess on the army estimates of about £200,000, but that is very likely to disappear on the final se ttlement of accounts. The miscellaneous estimates, again, show an augmentation of something like the same amount—about !00,000—I be lieve entirely due to the change of system that took effect on the 31st of March last, when, for the first time in our financial history, all the services were required to surrender the balances found to their credit; and I presume it is na tural, both with individuals and departments, when there is a certain date on which they must surrender a balance, to take care that that balance shall not be larger than they can help. (A laugh.) The amount of expenditure in former years is matter of considerable interest, and in stating the figures I shall compare the expenditure with former years, not as standing on the account of the 31st of March, but as it stood in the final account, when all charges were brought home. The expenditure of 1852-63 was £69,302,000, and that of the immediately preceding years £70,830,000, showing a decrease of £1,500,000, and, as compared with that of 1860- 61, which was £72,504,000, of £3,200,000. As compared with 1859-60, which was £70,017,000, there was still a de crease of £1,700,000. But, in point of fact, the decrease was still greater, because in .1862-63 there was brought to ac count as expenditure and revenue a sum of about £1,125,000 which had not appeared at all in the account of formes years, and after rectifying the account by the addition of this sum the real diminution in the expenditure of last year was, as compared with 1860-61, £2,061,000 ; as compared with 1861-62, £4,327,000 ; and as compared with 1859.60, £1,840,000. The expenditure of the financial year just ex pired is £69,302,000. The revenue as known to the com mittee, having been already published in the journals, is £70,603,000, showing a surplus of £1,301,000. (Hear, hear.) Then with regard to what is always matter of considerable interest—namely, the comparison of the actual outturn of the revenue, as compared with the estimate formed of it be. fore. I estimated on the 3d of April, 1862, the probable outturn of the revenue at £70,190,000 ; hut, as part of the general restrve I made with regard to the cotton district, I likewise stated that a sum would have to be deducted from that account, intercepted on its way to the Exchequer, in respect to the drawback on hops, if the home adopted the proposition I made for the remission of duty, both as to stocks on hand and for export. I took the two at £140,000, so that the estimated revenue of the country as corrected was £70,050,000, and the actual revenue was £70,603,000, showing an excess of £553,000 —not a very large excess, it we consider it absolutely, hut a very large excess if we con sider it with reference to the actual circumstances of depres sion to which I have adverted. Now with regard to the particular branches of the revenue. The Customs exhibit an increase of £484,000. That was variously affected by an An „; ‘ ,„ as ea s h bed a non abroad of a nrobable change in the duties on tea and sugar, and likewise by a bill which I in troduced for altering the duties on tobacco. The revenue was injured to a certain extent by the expectation of some possible change in the duties on tea and sugar; on the other hand, the effect of the Tobacco Duties - Bill was partly to injure and partly to benefit the revenue. On the whole the tendency was to keep the Customs' revenue below what it might have been, but not, I think, to any material extent. The income tax produced an excess of £467,000 over the estimate. That excess was due to a new assessment of the property of the country, which has never failed, whenever it has been made, to disclose a very considerble increase in the amount to be paid upon. (Laughter.) No, I mean an increase not due to the discovery of malpractices, for I am not aware that they vary much with time, but an increase occasioned by the natural growth of the wealth of the coun try. The amount of credit taken for payments from China which I estimated at £170,000, was really £212,000. I might have taken it at a somewhat greater amount, because we are morally certain we have received money since the last amount taken into account which has not reached us, the last account only coming down to the 13th of last Novem ber. Still it is safer to adopt that date, only taking credit for the actual receipt of so much into the Exchequer. Then comes the head of the Excise. The Excise shows a large deficiency in comparison with the estimate, and likewise some deficiency, not considerable, in comparison with the previous year. The deficiency, as compared with my first estimate, is not less than £1,185,000; from that we have to deduct the hop drawback, which was about £150,000 or £160,000:; but still there was a deficiency of somewhat over £1,000,000 in the Excise, as compared with the esti mate. That deficiency is practically divided between the two articles of malt and spirits. The malt duty, which was estimated at £5,800,000, produced only £5,322,000 in the financial year, leaving a deficit of £408,000. This de ficit was in part owing to the difference of the seasons, the former having been a very favourable season; but it was, also in part owing to othe- causes. One of them was that the season of 1861-62 was a particularly early season. As it was a particularly early season the malt was brought to malting at a very early period, and an unusual proportion of the whole receipt therefore entered into the revenue of the year. Although there is this large deficiency in the comparative portion of the malt duty which we have re ceived for the present year, yet the portion which has yet f a e 4132 ; 0 1 in this prevailed. upon thohneeßy thea r labouringes class ats os to come will, as is anticipated, show an improvement upon e the revenue of the previous year. Spirits, which were esti mated to yield £10,000,000, have yielded only £9,394,000, showing a deficiency of £606,000 as compared with the esti mate. These two items do not precisely, but practically, dispose of the question as respects the deficiency in the Excise ; and it is upon those two items that I hope the Committee will fix their attention. There is a remark that has been made with regard to malt which affects perma nently all the estimates of Excise now and hereafter to be presented. Under the old system the practice was to give in round numbers six months' credit to the maltster; and, inasmuch as malting only begins in the month of Septem ber, and then for the most part but lightly, the consequence was that nearly the whole of the duty levied upon the malt of one year entered into the revenue of the next ye t t7, and as the charge is taken at the time when the .00 m m al .2 ; malted the amount was ascertained, and tebe stated matter a i s a malt revenue could, under the old spite e irintr T o h du is ee l d s matter of fact. Now, on the contrary, da 0 over r t e n Y eti o ya f ee malt revenue is received within they ea l l; 1 enue accurate estimate it cannot be made the subject of equally £: 3 state oo,oo ° of the or not a matter of very vital cot at the time of the previous nfinseasquilcao:tabluerat a rzan r (l3" e v true ut r an uncertainty to the ep t r h e e .. surprise a t o o v o o ,ooo tha i nttovrthihec li estimate e apurses spirits . iifo roiu ° trssi truth is that I see t no and irevenue from 1 bteatjeat luxuries,e( ecil ( Scan ) co w afr h se h oadi c tni °as distress casesaeb be them, bwhich greatdispensed f owrel'xi gchhiseweighs pressure wi t comforts,l2 are those upon W hich at w e see economy some I do not thi n k the wonder is h in the receipts of Excise; the that takes falling place.off true wonder is that w e d o not see much more of correspond ing decrease in other branches of the revenue. (Hear.) With respect to the spirit duty, that t o h f eg duty reat interest, hasthat is, of course, a matter beenrai havinged, regard rand th e to c confident dheingthpoint assertion to which b li e s e e n d, re p a a li r s t e ly d It is undoubtedly has been made that the d u ly e expected from f t r h o e m wh it ol h e as of pct the revenue anticipated from the spirit duty has not been rea lised, think, owing to distress in the country. That, however, may be in some degree a matter of opinion, but as a matter of fact it is not true, nor is it anything near the truth, that no part of that anticipated revenue has been realised, for the greater part has been realised. The tots! amount expected was £1,400,000—£400,000 upon foreign and colonial spirits, and £1,000,000 upon British spirit. The £400,000 upon foreign and colonial spirits has been re ceived, and the figures which I am now giving to the com mittee with respect to British spirits will show that although undoubtedly not nearly the whole has been received, yet some part has been received. lam speaking of a year not ending in Dec. or in April, but ending at the date nearer to the time when the new duty was imposed. The new duty was imposed in July, 1860 . I therefore take the 12 month ending on June 30 which immediately preceded the impo sition of the duty, and I compare with the receipt of those 12 months the receipt for the corresponding 12 months in the three years ending on June 30 which have fallen since then ; and these figures will show pretty exactly—l might have been still more exact, and produced a statement more favourable to my own argument—but these figures show with sufficient exactness what is the real state of the case. In the last year of the Bs. duty—the year ending June 30, 1859—the receipt en British spirits was £9,410,000. Under the new duty in 1860 it was £9,750,000, in 1861 was £9,702,000, in 1862 it was £9,988,000, and in 1863 it was £9,837,000. If Re take the two years together which preceded the new duty they would show about £9,600,000.; and some, if not the greater part of the anticipated revenue has been received. Sir S. NORTHCOTE—Up to what period is the last year's statement The CHANCELLOR of the EXCHEQUER—Up to June 30. It is, of course, an estimate up on the last quarter of the year; but the estimate i s based upon goud grounde, and may be taken, I think, as the pr o d uce o f the revenue in that period. Tha material point, after all, comes to this— at least such has been our view—since the change in the law is the failure to receive the full amount of revenue which was anticipated from the additional duly due to illicit dis tillation? (Hear, hear.) That is the only question, I think, which ought to exercise an influence upon the judgment of the house. lam not aware that we have ever adopted the principle with regard to spirits which we have adopted with regard to commodities in general that are consumed by the public—namely, the principle that it is desirable to raise the money we want off as large an area of consumption as pos sible. I think the principle of Parliamentary legislation with respect to spirits has rather been that we should raise the money which we want off as small an area of consumption as possible, only taking care that we do not stimulate illicit distillation. That is the essential limit to be imposed upon legislation. Now, upon that question I am, of course, very much dependent upon those whom I consult; but this I can say, that whenever allegations of illicit distillaeon have been made to me by those interested in the trade, or by others. we have invited the communication of facts and details, which we have usually and almost uniformly been unable to obtain, and that the firm conviction of those who super intend the collection of the revenue in the three king doms taken together, founded upon the information they derive from their large staff of very intelligent officers and likewise from that most respectable body, I must say, the distillers themselves, though not with uniform testi mony so far as they are concerned—l say the conviction of the revenue departments is, and I fully share and am pre pared to defend that conviction, that there never was a period when illicit distillation has been so small as during the last three years. (Hear.) It is a matter of very consi derable interest to draw a contrast between the effect of dis tress—and I think it was pointed out that distress had an important influence—upon the Excise and upon the Cus toms revenue; and we find the revenue from malt and the revenue from spirits, as far as they are dependent upon consumption, show that effect before the revenue from tea, sugar, and tobacco. I think it is impossible fully to com prehend these figures and this state of facts—this compara ratively unchecked amount of Customs' revenue and this very serious check to the revenue from Excise —without taking into view a circumstance which seems to me esta blished by full evidence, and which is undoubtedly of a gra tifying character—namely, that there is slowly, gradually . , but steadily proceeding a change of taste in the country, and a transition from the use of the strong and the more inflammatory beverages to milder and more wholesome drinks. sir, comparing the general revenue oftheyear which has last passed with the revenue of thelyear that immediately preceded it, I will endeavour to present the figures to the committee in what I believe to be a perfectly accurate form. I need not observe that it is impossible, in the dry state ment of figures which appears on the last day of the finan cial year, to convey this explanation. It is not possible to give this explanation to the public except on the authority of the Executive Government. Hence arises a good deal of misunderstanding, the main source of which is in the item called Miscellaneous. It is commonly supposed that this item consists of various branches of revenue which it is not worth while to enumerate with specific names, and which, therefore, are combined under this one head; but in point of fact, the proper term is "Miscellaneous Receipts," and, though the distinction may appear fanciful between receipts and revenue, there is a distinction, and it is this : A very small portion of this item consists of revenue at all —this year, only £200,000 or £300,000, With respect to the great bulk of the amount which appears under this head, it partly consists of the repayment of money which has been voted by the house, and a very large portion of it is made up of repayments made by the conversion into money of what are called " old stores." Therefore, the safer way to compare the revenue of two years is to begin by deducting from both accounts what appears under the head "Miscel laneous." If the committee will follow me, bearing that in mind, I will endeavour to give them the revenue of last year as compared with the revenue of the year preceding, This is a matter of iu p , rtance, for it enables us to measure the elasticity of the resource+ of the country. The gross revenue for the year 1861-2 was V 9,674,009 ; but if we deduct the miscellaneous revenue and the China indemnity, the real ine gross - - - - 7 -""." revenue for the year 1862-3 was £70,603,000; but deduct- ing the miscellaneous receipts, the China indemnity, and a sum paid to the credit of the revenue from Stamps, which did not appear in the previous year, the real revenue was £67,790,000. As the figures which appeared in the news papers were too favourable to the year 1862-3, so the figures which I have now stated, if left without correction, would be too unfavourable to it, because, to obtain a fair compari son, we must deduct so much of the revenue of 1861-2 as corresponds with the amount of taxation remitted in 1862 3. The sources of loss by remission are three. In the year 1861-2 there was one quarter's income tax at 10d., which afforded an additional sum of £350,000. That was lost to the revenue in 1832-3. Then, by the remission of the duty on paper there was a sum of £351,000 lost to the revenue without deducting drawbacks. Again, there was a sum of £241,000 for hops, and there was one of £152,000 for drawback allowances; making in the whole £942,000, which must be deducted from the revenue of 1861-2 in order to make a fair comparison. When that is done the relative amounts for the two years will stand : For the year 1861.2, £66,985; for the year 1862-3, £67,790, showing an increase of £805,000 in the revenue of the year 1862-3, not a very large and striking increase, but one which, under all the circumstances, I think eminently satis factory. (Hear.) Certainty it is an increase which I could not for a moment have ventured to anticipate 12 months ago if I had been aware of the severe distress which was to continue and be aggravated in Lancashire and Ireland. (Hoar, hear.) I need not trouble the committee with de tails of what the growth of the revenue has been in each of several years from 1858.9, but I may observe that the amount which I have just stated as the increase in the year 1862-3—namely, £805,000, has been al:out the average an estiwateaosrsa enable whichr eanttahe whatrit epneao thecot it may be t , * heir an nual increase for the last four years. (Hear, hear.) There is one branch of the revenue on which I will say a word to the committee. It is material to see what has been the con sequence to the revenue of the great changes which hats taken place since '5B-59. In 1858-9 the Customs' revenue amounted to £24,118,000, or, deducting the charges for col lection, £1,063,000, to £23,055,000, In 1860 extensive changes were made in the Customs' revenue, which involved abolitions and remissions amounting to £2,450,000. In 1862-3 itnhge charges Customs' £991,000, re venue t amounted o4 23 to ll,taoheb4et3lree, hst o.£to estimates, againstaa, O ttee 3 s 4 to,ow xhh o, 2i 3 0 , o r , 55 d , e oo d u 0 tn -1858-9 ; the year before £2,450,000 of duties had been exre mitted. (Cheers,) 'We now come to the account of t penditare and revenue for the current financial year. CH s debt, according F For the he y t e o a r the the chargepreee present t for funded charges,ad nso e 4f d e ::: : :e i:onso t t e , a oi f o u r aw: unfunded d o ott e eh i 'tierdavYto•l'tlh'' house, 426, 330, 000 ; the Consolid a lo t s e d no:ddo F y0 : 0 ; itshpenee e e tlt e hh7 t i l e : o b h a:23ernchyn settled.t. Miscellaneouso P a ; Therer ef Estimates,tw hEi which sii hnn I.heave:lllllsaa Therea r already are not ci d i u h ty av t e o n d o o t , ff, com pany—(some ironical cries of mainly connec t e d with some ch tahnedG•alway HI, hear) —a r e n i a n o p t e t . h y s ; Government to make with and the arrangements t sy : o v ec° e fa p ur proposal, p pa o lta s uc a re l e , tdh o ea s r r e t o t with those service are still under consideration,respect to the West India mail observe, therefore, thatl The c - mmittee will figures which relate to thoseeannot present to them the precise matters. There is a bill be fore Parliament which I hope may become law, and which proposes for the benefit of tlr further transfer of stocks with the vie t w o e e n f ab e l e e n u e s t t t o . make a yet e.e r finallyalli certain items deEi Committer:s connected se p t oi readeo per petualc into terminable annuities. If that bill v pas i s n i g t will add £140,000 to the annual charges, though for this year the amount will be only about £lO,OOO. Taking these three items —the packet service, which we may put down at be tween £900,000 and one million, the other miscellaneous charges whichlare not at present before the house, and the charge connected with the funded debt—we may estimate them at £1,270,000, which, added to the £7,692,000, will bring the miscellaneous up to £8,962,000, and give no a total of £67,749,000 as the estimate for the year 1863-4. As the statement forms in some measure an answer to the re- solution of the v houte, TOUght toput this estimate of ex penditure in comparison with that of former years. It is less than the actual expenditure for 0362 , 3 by .C 1,50,000, and higher than that of 18689 by £3,086,000, although the charge for the debt was then greater by £2,197,000. Hear, hear.) The estimate of revenue stands as follows : Customs revenue estimate is £24,180,000. For the p urpose of affording a clear understanding of this account to the committee, I assume a renewal at the present rates of all taxes which expire this year. In estimating.) th e : t C o u t s h te e m p s a a y t , £24,180,000, there is taken into account the alteration in the tobacco duties. It is not easy to estimate its effect on the e The actual Excise receipts for it estimate. The estimate for Excise is A 17,600,000. Af ter revenue, but I take it at 0 £ 0: 1 0 0: 8a , t 0 ta l a 0 d , what I have already 55oI:aid u , ti the hmeyay were e a r tu e ra: u ly t b . e e asked whytha n j produced should lnlast y e yea r t h . the last meat, rt7anterior to their arrival in the E deduction's, such as from £150,000 to xx che of hop drawbacks. The 160,000 on acc'l t onding datlclionthecUrrent.nig portionof y ear 1 * better the mal ticioirrie,ocefluvdaerdioiottri Sit :tr e 13.14. 25 10 St 50 20 8.4.0 ►9.26.4 12.10