The Sun. — London, England, 1854-05-23 00:00:00

two or three hundred thousand pounds of the sum sub scribed, upon which no instalments, were paid. This is a mode of managing the public finances of the country which produces only public scandal, and does no good to public credit. (Hear.) I have by the a series of letters from some of the most obscure and hopeless varlets in the we, id, all subscribing 5,000/. to each of the series of the Chancellor of the Exchequer's bonds. But that is not all ; these fel lows not merely sent in their subscriptions for the 15,0001. of Exchequer bonds, but they have received an official answer, not only giving them what they ask, but much more, and begging them to take the whole series in the "A" bonds, and assuring them that if they do so they shall receive all the advantages which attach to the other series. (Laughter.) The right honourable the Chancellor of the Exchequer, with his great ability, may no doubt prove this to be a most patriotic movement—one equal to the " loyalty loan" of Mr. Pitt, of whose conduct and example so much has been said. (A laugh). But if you refer to these thins and these failures, the Chancellor of the Exchequer indignantly refuses to listen to you. Who would suppose, when they listened to the indignant obser vations of the Chancellor of the Exchequer, that he had re cently been in correspondence with all the scamps in Lon don. The right hon. gentleman comes forward as if he were to be the victim of the Government he has served. He will not allow his colleagues to take any share of the faults he has committed, and he takes refuge in a quota tion certainly more classical than novel, and ono which, considering the great classical education of the right hon. gentleman, we might have expected would have been a felicitous line. The house will probably recollect the cir cumstances, and I certainly thought at the time, when the right hoc, gentleman made use of it, that he must have venture a little on the forgetfulness of others :—a young gentleman, attended by his companion, was detected in plundering the Rutulians, and the young gentleman ex claims— " Me, me - adsum qni feci in me convertite ferru." If the right 'hon. gentleman had proceeded to the next line, he would have found an appropriate rapier— s" 0 Ratuli,emea, fraus omnis" (Laughter.) And this, I would suggest, would be a good motto for the new Exchequer-bonds. (Renewed laughter.) I have endeavoured to point out the series of failures and errors which have brought the right hon. gentleman to his present condition ; and finding it impossible to escape from the pains and penalties of an empty l'reasury, an ex hausted Exchequer, he is now brought to the last expedi ent of this loan in masquerade. (Laughter.) It was impos sible to add anything to the able remarks of the hon. mem ber for Huntingdon upon the inconvenience of raising money in the manner proposed. If money was required to be raised, it would be infinitely cheaper and more con venient to raise it by the ordinary mode rather than by having recourse to these fantastical expedients. Besides all the evils which you say Mr. Pitt committed, and which you are so desirous of avoiding, you have already imitated for you are now attempting to raise money at a discount. (Hear, hear.) In order to show not only the inconvenience but the danger of the course you have adopted by the at tempt to raise money by these bonds, I will instance the case of the last loan made in 1817. When that loan was raised for a great national purpose, it was raised in the old fashioned style, in an official manner, and in a mode which the public understood, and which generally succeeded, that of giving 1001. Consols for as much as you could get for it. (Hear.) The right hon. member for Halifax (Sir C. Wood) went into the market with disadvantages which the right honourable the present Chancellor of the Exchequer never experience I, and he raised his 8,090,000,1. under the old system without tlisturbie g the market one-half per cent. But suppose he had raised those 8,000,0001. by the fantastic projects of the present Chancellor of the Exchequer, and had agreed to pay off the bonds at par in 1854, 1855, and 1856, what would have been the condition of the country at this moment, and how grievously would the country have felt this additional burden, to their already severe imposts and taxation? (Hear, hear) It is perfectly idle to talk of this vote being a question of confidence—a question of con fidence in a Minister who has asked for 10,0 0,0001. of money and virtually received them, and we are not to set our mark against a system of administering the finances which we think is not only inconvenient, but which may prove, as I have shown you just now, most injurious and intolerable to the country. (Cheers.) lam sure the com mittee will vote upon this question according to what they believe is for the advantage of the country. Sir, my opinion is, that the advantage of the country will be best studied by following as much as we can at this moment the prece dents which we possess for raising the ways and means of the country. Now. I say there is no precedent for the system of the right hon. gentleman, for it has this most anomalous feature—it is paying off the amount of old debts at the same time that it is increasing taxation to carry on new war. (Hear, hear.) The right hon. gentleman is defraying the legacy of burdens which bid wars have left this country, whilst at the same time he is raising taxes within the year to carry on new wars. The right hon. gen. tleman laid down the other night a variety of principles upon which he thinks the finances of the country ought to be managed in a time of war, and the Secretary of the Treasury had to-night re-echoed the same opinions and quoted the authority for them, which the right hon. gen tleman did not—for all the opinions which he favoured the house with as to the expediency of raising the supplies for carrying on the war within the year, and not having re course to loans, are a reproduction from the "Financial Reform" of Sir Henry Parnell, in language as well as sen timent. The name of Sir Henry Parnell will, I trust, always be mentioned in this house with the respect of which it is worthy. He was a sound financier and a skilful economist, but he was not a great statesman, and he was not a man who, if he had to decide on the means of carrying on a war, would have had recourse to any other maxim than the rule of three, or supposed that it could be conducted on any other plan than the severest principles of political economy pointed out. But there are other principles to be looked at, with such an end in view, then the favourite doctrines of Sir Henry Parnell ; you must look a little to the temper of a people, to the character, the passions, the weakness, the genius of a people, anti you must conduct your war, no doubt with some regard to scientific finance, but also with some regard to the spirit of the age and the country. (Hear, hear.) There is this difference between the work quoted by the right lion. gentleman, of which he " Another and another still succeeds." appears a disci le and an ardent votary —there is this dif- I cannot say the catalogue is finished, because I think at ferenco between a man who acts upon such views and Mr. the end of that fatal year, or rather in the month of Pitt, that it is possible he may carry small matters to a August, when the right hon. gentleman found that all his successful conclusion, but I should not like to see him en schemes had failed, and that his exchequer must be empty trusted with the management of great enterprises. (Hear.) T unless he had recourse to means for replenishing it, the The right hon. gentleman told us that Mr. Pitt was not a funds being then at 97 and a fraction—when he could good war minister, and he must allow me to say that he have raised the money on ver y eas y t e rms—the right hon. certainly indulged in v try free criticisms of the career of Mr. Pitt, and even spoke of his conduct in terms of repro gentleman, of course , b e i ng i n p ossess i on o f gra v e s tate seer ets, which must have assured him that even if peace bation. Ido not believe that the phrase of " heaven -born could only be preserved by a combination of the happiest minister", which came in for a pressing censure, originated circumstances with the exercise of the greatest skill on the with the Stock Exchange. I believe the fact to be that it part of diplomatists, and on the part of Governments the was the Duke of Chandos who, in the House of Lords, necessary prudence and firmness united—the right hon. called Mr. Pitt a heaven-born minister, and therefore the sneer of the right hon. gentleman on this head was hardly gentleman with co nt em t let the ortunitass b, and the year 1853 te rm i na t e d ppo on the part of the y p right hon. correct. But if the right hon gentleman will allow me, I gentleman with the failure of all his financial projects, will presume to give him a piece of advice ; I would give with almost the c er tainty of a war, and with an empty over these unworthy sneers, levelled at the reputation of a exchequer. (Cheers from the Opposition.) Now that is great minister—l would, if I were the right hon , gentle the way in which the right hon. gentleman commenced man, confine myself in future to self-glorification, an art o the campaign of 1854; and I want to see what are the of which, I admit, that he is a master. (Hear, and a measures which he has adopted, first of all, to compensate laugh.) Let him dilate upon the astuteness with which for the mistake s of the preceding y ear ; an d, secondly, to he effects the conversion of South Sea Annuities ; let him do that which the right hon, gentleman had also to do, dwell upon the intrepid courage with which, to show his not merely to compensate for the mistakesof last year, but spite against the party he has quitted, he can double the to encounter the difficulties of the present one. The right malt tax. (Cheers.) But let him cease from these reffec hon. gentleman, in breathless haste, one month before the tions upon the memory of a statesman who, I can assure financial statement was due, came down to Parliament, him, is still clear to the people of England. Let him re and announced his determination to make the financial member that Mr. Pitt, whatever might have been his exposition to the country. It was a month before it failing.. in the opinion of the right hon. gentleman, held was due. I think on the sth March the right hon. with a steady hand the helm, when every country but gentleman came down with, if not war absolutely declared, Great Britain was submerged in the storm ; and when he an army of 25,000 men having quitted our shores and a taunts Mr. Pitt with courting bankers and money-lenders, large fleet being in the Black Sea, a month before it was he may also remember that that rninis'er owed to a grate necessary, but with a frankness which gait) confidence to ful country an eleemosynary tomb,- --(Cheers.) the country, in order to put us in complete possession of The CHANCELLOR of the EXCHEQUER—Sir, both our financial situation, so that we might thoroughly un- the lateness of the hour, and the recollection of much for derstand the responsibilities that we might incur, and pro mer indulgence, and, I may add too my view of the debate vide for the difficulties in which the preceding year had which the committee have heard to-night, combine to left us. Well, the right hon. gentleman told us on that impress occasion that he had a considerable eurplu —fortunately upon me the necessity of not again d raw i ng upon for us, to the amount of 3 , 000 , , / 00 /. , and the in c re as ed esti- that indulgence by detailed statements and elab ora t e ca l cu • mates be had to propose would coins to somewhere about lations. The speech we have just heard from the right the same sum, or something exceeding 2,850,0001. The hon. gentleman, and the speech with which the bon right hon. gentleman entered into many p articulars as to member for Huntingdon prefaced his moti on , cons i s t e d the moving and bringing back the large force which had i n • great part of references to what they have termed my quitted these shores. The right hon. gentleman aao financial errors ; Now with respect to those financial errors, offered us estimates to something like a million and a quar ter, which was a large sum ; but he said it was right that if such they be, all that I have to say may be summed up the country should know what was necessary for moving in three or four sentences; because I think, after having and bringing back— listened to the debate, that we have at length pretty The CHANCELLOR of the EXCHEQUER (interrupt- nearly exhausted all that can be said upon these questions ing)--Removing and bringing back. —a matter, I venture to think, of no small consolation to Mr. DISRAELI (resuming) —Well; removing and bring- the committee. (Hear, and laughter.) Th 3 case stands ing back will suit my argument. I say the right hon. very simply thus. The right hon. gentleman says that the gentleman gave us this estimate of a million and a quarter, first financial error was the error of reducing the rate of which was a large sum, he said, but it was right that the interest upon Exchequer bills. On that head I fairly tell country should know what was necessary for removing and him, and I fairly tell the hon. member for Huntingdon, I bringing back this force to our shores. How he could re- have nothing to retract and nothing to repent—(hear, concile that with the much larger sum which was after- hear) ; for, in my opinion, the reduction of interest to the wards asked for the transport of troops I never could com- public was both a great and a just advantage, and the re prehend. But the whole statement of the sth of March ductiou of the amount of the unfunded debt in June last was a statement either inadequate or deceptive, and of was another great advantage, that being also the first time course I cannot believe anything deceptive on the part of since the war when a large reduction of the unfunded debt the right hon. gentleman. And how was it inadequate? had been effected without loss to the public. So far, then, He succeeded in conveying to the committee and the as that subject is concerned, I hope the hon. member, if country that, although it might be necessary early in July, he is disposed to do so, will not scruple to bring it before it would be necessary to ask for further supplies ; and on the house, because this house is the ultimate judge upon the sth of March the house was put in a position of, gene- what principles every department of our finances should rally speaking, further responsibilities and. requirements. be managed. I have announced plainly and without dis- If that were not his intention what was the meaning of guise the principles upon which I have proceeded, namely, that precise and almost pedantic vote for Exchequer-bills in the first place, that the public is entitled to borrow upon to the amount of 1 750 0091. to be Paid off out of the pro- the best terms on which people are willing to lend ; and, i duce of th e taxes n November ? The house certainly un- in the second place, that the sound p o licy i s to reduce your derstood th a t th e es ti ma t es o f the Chan ce ll o r o f the Exche- unfunded debt in easy times, in order that you may be ZIT: "upon the whole estimated to give them an idea able to make an effective use of that great instrument in ot h te r anirements of the country and the responsibilities times of di ffi culty. (Hear, hear.) These are the principles • " Majesty's subjects is consequence. The house almost on which I stand ; the hon. . gentleman says truly . that I immediatel after adjourned for the holidays, and they do not recede from those principles, and it is for hint to had so adjourned but a few days when they found that the consider whether he chooses to submit the issue between Chancellor of the Exchequer and the First Lord of the him and myself to thejudgment of the House of Commons. Treasury w ere which was at endeavouring to raise money by a mode With respect to the second subject, that of the conversion met the o Ch nce sn a ce tra ll nge and quaint. No sooner had the of the minor stocks, I really have nothing to do but to re houseberg found that the tabl e of the I have stated Exchequer than hon. inem- peat, and it is needess for me to repeat what the increased estimates a groaned beneath the weight of on former occasions. The right hon. gentleman accuses No person objected to either ' 6 ' 1 '46,000,000/, was required. me of self-glorification ; he says that I have not spoken thought the honour and interestor 12 millions when they upon that subject with sufficient humility ; I have only g Si,. country required it; described it as an abortion, and that he thinks i s a p hrase but what many hon. members di had a Minister of Finance who Was calle d of was, that we savouring so much of conceit on my part—(a laugh), that gate the great question of the requite r' upon to investi- it is far from expressing what is due to the character of the placed himself ienntadireo et f the noun- measure. Well, sir, if the right hon. eentleman will him . try, and who must have with the heads of department s on the communi- self frame a form of words which he thinks ought to be cation sth of March , put in my mouth in the shape of a confession, I will see and which during the interval of the E as t er , . amount of 000 holidays he whether I can accept it • but if he undertakes that task, found to be erroneous to the 6, ,_ 1. (gear.) , . We now have the consequence of these con u t ttotim err.) I very much doubt whether he will be able to invent in the administration of the an d stronger terms of description than the words I spontane systematic errors to raise finance s , ill oasis usedat the ofthe session . (A l h ) commencement . the attempt by the Govern ment a loan—for each informed as to the object of The right hon. gentleman, in order to lengthen his cate r must still call it unt il t hethat log os of Treasury. Even Chancellor of the march delinquencies , appears to me to have stolen a proceeding of the come forward and say that his the er ror upon us when he made an error do duty twice, for Exchequer cannot himself proceeding and he has not yet advanced. so first, and b proceeding was successful, . abortion. (Hear.) But this the su sequently as the fourth. (A laugh). I take far as to confess that it was an . e liberty of ttended by some of the most remarkablewhat I hey retrench i ng that excrescence, and stating attempt was a ded a financial transac- hon. gentlem an done found anothe r English Minister. The Chancellor tampered with the f error in saying that I had tion of that kind by an t a time of unrivalled pros- had b een, as a finds of savings banks, and that there of the Exchequer of England, a appeared from the papers laid on the table, ld l appears in the in ' perity and of unexampled wealth, sm. en y cent., and who het' conseq uence of that tampering, a loss to those parsons market as a borrower of 6,003,009/. at four per . invested their money in ' banks. must Now, I unable to raise the fund which he requires. . again say, that I rebut an d • savings be is absolutely repudiate the charge of thought of this it having tampered with What the Emperor of Russia must have the funds of the savings banks. I have dune with is impossible for me to ascertain, but I should ce rtai nly fnr a Minister to I them precisely that which it is the duty of think he might consider it as a countervailing incident t o ; when the deposit anti a hands, he is bound to invest money comes into his the bombardment of Odessa at least. (Hear, hear,it according to what he be• laugh.) How the Chancellor of the Excheq uer could have lieves to be most for the int eres t o f the country. (Hear, hear.) I must confess it is my proceeded in the matter, or bye what management it w as rally, I it opinion , and, speaking gene. that he arrived at such a result is a mystery. The wild , rally, s u p pose w ill be the opinion of the house, that desert of the city of London inhabited I will not say by the Chancellor of the Exchequer ought not to apply savings banks money to meet the expenses of the year. I ha ve savage beasts, for some of them are " balls" and the rest done, as the right hon. gentleman knows, no such thing. aro " bears"—Chancellors of the Exchequer are supposed to have some kno w l e d ge o f these animals.Butnotcontent What then have I done ? I might have invested it in re , with " bulls" and " bears," the Chancellor of the Exche- : during the funded debt ; I invested it in reducing the un quer aimed at higher prey, and he sought to bring down funded debt. The creation of stock which took place was the antlered monarchs of the forest, and indeed all the ' a creation of stock against reduction of the unfunded debt. •' - - 'a - stage" in Laudon were eorstribnting to maintain the credit . ! In that. way I ,say you may examine if you will that red ma of the Chancellor of the Exehequer. The right hon. gen- lion wich took place in consequence 'of tlie purchases fa= Wig actually Buda the necessity of striking out . mad. with the moneys of sirtios bomb, and you will Mid sc hedule D, appear to touch the principle involved. These facts, if they be facts, are arguments for another assess- merit of schedule A; they are arguments for a net instead o f a gross assessment ; but they are no arguments why the difference of percentage was so great as was once state .I by the right honourable gentleman. There are no details which affect the principle whether there should be a dif ference between the assessment on temporary and perma nent incomes. " But," said the right honourable gentle man, "the schedules were not placed on the table, on the income tax proposed by the late Government." The right honourable gentleman might have learned from those persons who are authorities on the subject, and to whom he himself will be ready to bow, that there is no precedent for the schedules of an income tax being placed upon the table. It is against all precedent, and against all rule. The house will recollect that the question of an income tax was never proposed by the late Government in the House of Commons (Hear.) I, as the organ of the Government, never had an opportu nity of stating the reasons which had induced us to come to this result. It was clearly understood that until after Christmas the question would not be brought before the house; but there was a reason why we were obliged to pro pose the assessment on the schedules, because it was a com mittee of ways and means, and it was our duty to show the means by which au adequate amount of ways and means might be furnished. Therefore, the resolutions merely re mained on the table in their usual form ; and it was not until the final debate that a right hon. gentleman opposite entered at all into the schedules ; and that right hon. gen tleman having stated that 1 had omitted, in not producing the schedules, an important part of my d uty, what I satd was " that we did not ask you to vote for tl the schedules — when the schedules are befo re the consideration of the house it will be open to any hon. geneman to propose any alteration in the elements of the schedules ; all we contend is this—we have considered this proposition, and no finan cial difference will be made, whatever changes you may make in the schedules." Id o sa y —that expression having been misrepresented by the right hon. gentleman— between the speech that was made on the elements of the schedule and my reply, that although it was not my duty to place the elements of the schedules on the table I did not shrink from it, and would wil lin g l y have done it, but I had no time— meaning from the pressure of i business—form a ll y t o pre pare those sch edules, which t was absolutely against all precedent to place upon the table And then the right hon, gentleman denounces the false p r i nc i p l es o f fi nance w hich Mr. Pitt would never have recogn i se d—(h ear , h ear ) — an d upon which the project of income tax proposed by the late Government was brought forward. It was, in fact, a graduated scale, according to the right hon. gentle man ; and he denounced it a few months afterwards, when bringing; in his own plan of an income tax, in which there was positively a graduated scale of the most flagrant and the most perilous natu re . (O ppos iti on c h eers .) W e d rew a distinction between incomes of a different character ; but the right honourable gentleman brings forward an in come tax in which he makes an assessment on different amounts of property, thereby saying that the rich man shall pay a higher rate than the poor man, the most dan gerous principle, to my mind, that can possibly be adopted. (Renewed cheers (ruin the Opposition.) I hope the com mittee will excuse me for entering into these details. I had hoped the late Government were entombed in Hansard— (a the right hon. gentleman revived the ques tion, and I cannot shrink from answering a charge which has been repeated by the right hon. gentleman. There is only one point more on which I must touch. The right. hon. gentleman has often praised himself on account of the efficient income tax which he brought in. He said the income tax which I pro posed would have brought in much less to the revenue, in consequence of my mode of assessment. He found it con venient to forget that while we admitted the principle, which I believe to be a just principle, that there should be a difference recognised between temporary and permanent incomes, and the recognition of which would have saved you from the succession duties —(hear, hear)—he found it convenient, I say, to forget that we destroyed, or greatly removed, that immense mass of exemptions which had risen up in the course of years, and that by increasing the area of direct taxation we raised exactly the same sum as the income tax of Sir Robert Peel ; and we not only did that, but by increasing the area of direct taxation we gave you the security that property assessed to the income tax should only pay an income tax of 6 per cent. instead of 10 per cent., for that increased confiscation which woillal have been the inevitable consequence if you had retained the old constructed scheme. I have now touched upon three grievous errors in the financial cam paign of 1853, and which I touch upon because the right hon. gentleman vindicated himself on these points, not in a tone of humility which should make me silent—(cheers from the Opposition)—and because, as I shall show, it is these errors which are the cause of our present difficulties. But these errors are not the only ones in the campaign of 1553. What was the fourth error? It was that reduction in the rate of interest which forced the right hon. gentleman to pay off 3,000,0001. of Exchequer-bills from the public ba lances. That I chink to have been the fourth error. I make the catalogue as brief as I can ; but still I will go on. (Cheers.) There was a fifth error. (A. laugh.) I think it was a great error that the right hon. gentleman com mitted in tampering with the funds of the savings banks as he did. lam perfectly aware that the right lion, gen tleman took no step which I believe was not legal in that respect; but it was an inconsiderate use of the privileges of a Minister of Finance which led him to have recourse to a subject of such great delicacy ; he treated it, however, in a manner which must have damaged the credit of those invaluable institutions, the savings banks among those classes for whose especial benefit they exist. It would appear from papers on the table that there was a series of stock-jobbing operations, a catalogue of speculation in the funds, many of which resulted in a loss to those who in vested their money in savings banks. It appeared from those papers, if I am not greatly mistaken, that savings bank money was in one day sold out of the public funds, then invested in th e E xc h equer -bill s , an d th en th ose Exchequer-bills invested again in stock, and that upon those transa,tions there was a positive pe,uniary loss. (Hear, hear.) I think that was the fifth blunder —tue fifth great error of the right hon. gentleman in the campaigu of 1853. But - __... " THE SUN, LONDON, TUESDAY EVENING, MAY 23, 1854. that it was a more economical reduction—a more economi cal funding of Exchequer-bills, for that is what it amounts to—than had ever been made upon any former occasion. But I cannot express the astonishment with which I heard the right hon. gentleman say that the consequences of my tampering had been a loss to those who invest their money in savings banks. Why I spoke the other night of mythical histories; but I really begin to doubt now whether it is not a mythical history that the right hon. gentleman him self was once Chancellor of the Exchequer, and that being so, he was trustee and manager of the moneys received from savings banks. (A laugh.) Why, he either has never known, or has entirely forgotten, the terms upon which these moneys are held ; and his statement of a loss to the investers is so mischievously absurd that I am bound pub licly to state to the house what I really should have hoped it would not have been necessary for me to state to the right hon. gentleman, namely, that the use made by the Chancellor of the Exchequer of the savings banks moneys has no bearing whatever, and no conceivable connection with, the security of the parties for the amount invested by them. These investments are investments made by the State for account of the State, and at the risk of the State. The covet-ant of the State with the depositors in savings banks is a covenant totally irrespective of that investment—the money, when received becomes the money of the State ; and these are the elementary facts of the business of a Chan cellor of the Exchequer. But, sir, the right hon. gentle man stated, and I think truly, that this was not the gravest error that has been committed. He said that the great error of the last year, among the series of five which lie enumerated, was the error of the peace budget. Now I wish to know whether the hon. member for Huntingdon and the right hon. gentleman aro or are not prepared to challenge a verdict either from this house or from the country upon the budget of 1853? One would suppose, from the lan guage of the right hon. gentleman, that that was the case, because he has laid down the doctrine that no taxes what ever ought to be repealed when there is a chance of this country being engaged in a war. Now, first of all, what are the merits of that doctrine ; and, secondly, what would have been our position if we had ventured to act upon it last year? Why, sir, we had the greatest difficulty in de fending the taxes of the country from the rapacious fingers of the right hon. gentleman. (A laugh.) Not following the course which had been usual with an ex-minister of finance, the right hon. gentleman thought he best dis charged his Parliamentary duty by joining with every vote and catching every vote for the repeal of this tax or of that. (Cheers.) One week it was the hop duties—another week it was the advertisement duty, which, as a Minister, he had declined to repeal—another week it was the consolidated annuities, which, as a Minister, he had declined to remit. (Cheers.) One week it was one tax, another week it was another tax, but I am in the recollection of the committee when I state that twice a week usually, until the time of the budget of 1853, it was my duty on Tuesdays . and Thursdays to appear in this place for the purpose of defend ing —and not always successfully—the finances of the coun try against attacks either joined in or led on by the right hon. gentleman. (Cheers.) I would like to know what would have been my success if I had ventured to lay down the doctrine that as long as there was a chance of war no tax should be repealed. (Hear.) Now, is that a sound doc trine or is it not? What is the situation of this country with respect to the chances of war? Why, with the power you possess, with your extended relations, with the arms of Britain's strength and influence encompassing the globe, there is always a chance of war for this country. There has been no period for many years past at which there have not been grave questions in agitation, sometimes in rela tion to one Power and sometimes to another, sometimes in relation to one continent and sometimes to another. If you pass over these events, you will find that if you are to wait for a period of absolute and entire tranquillity throughout the world, you will never repeal your taxes. (Cheers.) And now, sir, I am obliged to say—and that with out rendering myself liable to the charge of self-glorifica tion—because the budget of 1853 is the budget of the house, which adopted it, and of the people, who approved it— (cheers)—l am bound to say that, at this moment, Ido not regret the repeal of taxation which took place last year. (Renewed cheering.) I do not regret the repeal of taxes which gave an immense stimulus to the trade of the coun try, and which ended iu a surplus revenue of nearly 3,500,0001. (Cheers.) Again, I say, this question goes very deep ;it opens up the history of past years—it opens up the policy with which the right hon. gentleman and his adherents were so long identified, namely, that policy which declined to reform the finances of this country with a view to tha extension of its industry—that policy which is fortunately the opposite of the policy which has go verned the proceedings of Parliament now for a period of ten or eleven years, and the happy and blessed fruits of which the people of England are ;now reaping. (Cheers.) Sir, the right hon. gentleman adverted to the charge which I made against him with respect to the income tax. I think he was perfectly justified in referring to that tax, but I wish him to understand that he has entirely miscon ceived the nature of the charge which l made against him. He says my charge was, that in December, 1852, ho did not lay upon the table the schedules of the income tax. I made no such charge against him. What I said was he did lay upon the table the schedules of the income tax, and he accompanied them with a declaration that schedule A was to be taxed at 7d. in the pound, that schedule C was also to be taxed at 7d. in the pound, and that schedules I) and E were to be taxed at s{d. in the pound ; and my charge against him was, that at that moment he had not prepared any plan for carrying his proposition into effect. I founded nay charge not upon a mere rumour or upon any indirect information, but upon the declaration of the right hon. gentleman himself, because, when charged by a right hon. friend near me and others with the absurdities which would result from the schedules as he hat stated them, his re dy was that lie had not hail time to look into the sche dules. (Hear.) One word more upon the qusstion est the peace budget The right hon. gentleman and others mix up, in a manner not altogether convenient for the discus sions in this house, the responsibilities which attach to the department of finance, and the want of foresight and fore thought which they impute to the Government with re ference to the war. I have already stated what our posi tion was in that respect. If the Government were wrong in their anticipations of continued peace, and if they fell into error on that point, that of itself is a subject for dis cussion and consideration in this house. We do not shrink from the issue. We do not think the budget was a had budget even for a time which threatened war. By that budget instead of sacrificing the revenue of the country, we greatly strengthened its basis and enlarged its resources. And, sir, we did more. I would like to know whe her the right hon. gentleman has ever considered the moral grandeur of the spectacle which the people of Englan t present at this moment with respect to the willingness to make great and generous efforts for a just and necessary war? (Cheers ) ft is a noble attitude in which the people of England stand. There is a willingness to undergo taxation such as, I think, has never been seen in former times. Why do the people show th it. willingness? Because, sir, they have confidence in the House of Commons—because they see that it has been the business of Parliament to remit taxes, and to re lieve them from burdens, when such remissions could be made. In my opinion, the financial measures of last year, which remitted such a large amount of taxation, with the series of similar measures which preceded them, form some part of the cause why the people have evinced so great a disposition to meet the wishes of this house, and to make an effort to provide by an immediate sacrifice for the great expenses of the war. (Cheers.) Sir, the substance of what I have to say in regard to my own past conduct is this—it seems to me that these are questions which have pretty nearly, to use an ancient phrase, "bolted the bran!' I think we now know pretty well all that can be said for or against them, and it is time for the house, if they wish to do more, to proceed to consider them in a more definite shape. In the meantime, it is needless for me to detain the committee any longer upon the matter of the unfunded debt, the conversion of the minor stocks, or the alleged tampering with the money of the savings banks. Sir, the hon. member for Huntingdon made a speech to which I listened with a sense that, while it was the speech of a gentleman opposed to us as the member of a party, and be longing to a most powerful and highly respectable class, with which. quite contrary to my desire, circumstances seem to have placed me in contact, yet, at the same time, that it was the speech of a gentleman who stated nothing that he did not sincerely and conscientiously believe, and the speech of one, moreover, who well knew how to place his opinions and sentiments before the house. I might even go a little further, and soy, that if there was one sentence in his speech which appeared to me entirely out of place, it was that in which Le alluded to his own want of custom in addressing the house, and apologised for having ventured to speck upon aqu stion of so much importance. I must say that I take the hon. gentleman to be a first-rate Parliamen tary artist. I never heard a man make either a more elaborate or a more effective use of his materials. It ap peered to me that ho ascended to the very height of Par liamentary oratory, for I never saw a gentleman display so much dexterity in fixing the attention of the house upon matters of secondary importance, on which we did not ask you to vote, and in shading over and putting out of sight the resolutions upon the table and his own amendment upon them. (Cheers.) My purpose is, air, to draw the attention of the house to those resolutions. They have been described by the right hon. gentleman opposite as a loan in masquerade. I have stated to the committee why I think that description is fundamentally untrue. Criti cisms may be male upon that project. One has already been made by the hon. member for Wick, who says that it would be wiser to issue the Exchequer bills at a higher rate of interest. I am disposed to coincide with the justice of that criticism. (Hear.) The rate of 31 per cent. was fixed at a time when, according to the best advice I could receive, there was reason to suppose that money might have been raised at that rate; but circumstances have changed since then, and with the permission of the Louse I will amend the resolution by saying, " at any rate not ex ceeding 4 per cent." (Hear.) I wish, sir, to describe to the house what is the meaning and intention of this pro posal. When in March we proposed that we should be authorised to levy a double income tax for the first half of the financial year, taking into view the interval which should necessarily elapse before we could receive the pro ceeds of that tax, we asked for power to raise 1,750,000/. by Exchequer bills. When we Caine to make a further proposal to the house, and to propose to raise nearly 7,000,0001. of new taxes, we had to consider that not only the same but a more considerable interval must elapse be ore the proceeds of these two taxes should reach the ex chequer. Twopence halfpenny upon the income tax will yield us about 3,250,0001., but no appreciable portion of that sum will be realised within the financial year at all. It will only begin to be realised, with certain small excep tions, after the month of April 1855. Nearly the same is the case with regard to the other duties. With respect to the malt duty, the proceeds of which formed the principal item in the catalogue, after the income tax, it will not begin to be realised in any considerable quantity until the winter has approached; and therefore it followed, as a matter of course, that when the right hon. gentlemen near me had framed their estimates of what the war expenditure would he—a work of no small difficulty—it was our duty, after determining to call upon Parliament to make one effort to meet that expenditure by new taxes, likewise to make a pro posal with regard to a temporary supply of money before these taxes could be received. Now, sir, the lowness of the public balances may be referred to in this matter; and it is true that, to some limited extent, about 1,000,0001. or so, it might have been necessary , to raise money even irre spective of the war. But, sir, that was a small matter. The object of the proposition that we are making to the house is twofold. In the first place it is necessary to an ticipate the taxes which the house has been pleased to vote to supply us with funds to carry us over the is interval be fore the taxes can be raised. In the second, it impossible at the opening of a war to form a reliable calculation of o a n n t h s be fo adequater - h w a h n a d t . our n eic 7 p o e 3 n r e ri v, t , t ill th b o e ug f i e l r t t h a e . el m ve ad m e provision for the expenses of the sYar by creating 6 mil lions of debt, which realised 4 millions in money ; but so far did the expenditure exceed his estimate, that he was obliged to create some millions of unauthorised debt in the course of the year. I pretend not to foresee what will be our expenditure under circumstances like these, but in order to endeavour to provide for the future as far as pos sible, we ask you to give us this considerable margin —this considerable power of raising money, with a view to the services which m a y be sanctioned by Parliament, or which it may be necessary to undertake without the sanction of Parliament—and in order to meet th'.l extraordinary . state. of things —a state of things unknown to our experience, and known only in history—which is brought about by a general European war. These are the grounds on which the proposal of the Government rests. Is this, then, really to be called a loan, dr not' What lays the hon. member for Huntingdon ? He undertakes to define a loati, and he defines it in such a manner that his definition absolutely excludes everything known by the name of a loan in this house. He says it is somethinc , which, in some form or other, you are to repay. Well , ° that is precisely what a loan in this country is not. For if you were to give a de finition of a loan in this country, it means a sum of money taken on condition of paying for it a perpetual annuity, but upon the condition that the lender has no right to re claim it. Mr. BARING remarked that what he said was that a loan was a sum of money for which the lender got some return. He got a return in the form of interest. The CHANCELLOR of the EXCHEQUER—Then it is obvious that the word " reture " is a very ambiguous word. It is quite obvious that it was the natural inter pretation of it to suppose that it meant a return of the capital borrowed. However, that is really a mere question of words, and nothing turns upon it. You will not dis pute that Exchequer-bills are not a loan. If you describe them as a loan you are playing with words. They are a temporary borrowing of money. (Loud laughter.) Well, Ido not wish to quarrel abort; a question of terms. If you choose to say that Exchequer-bills are a loan, then I must call on you to be tried by that principle, and in that case what in the world is meant by those who charge me from the other side with having pro m raisedised on the 16th March that n o l oan s h ou ld b e at the very time when I had proposed to raise 1,750,d00/. by Exchequer bills? (Hear.) I pass away now from the word loan. These Exchequer -bonds you may call a loan or not. They are not the creation of new stock. They are not, of necessity, the contracting of a debt permanent in its form and character. That with which you should compare, if you wish to understated their nature, is the unfunded debt of the country. They belong to the unfunded debt of the country, only they are in a form more permanent than Exchequer- bills. That is the nature of the plan we pro pose, with a view to provide for the interval before the taxes can be realised, and with a view to give that large command of money which in such an exigency as the pre sent the Government may require, without asking you to place in our hands the power to raise a sum much larger than we should otherwise have demanded. It is not the sum that is immediately wanted. It is not the sum which is required for the services that have been stated to you in the form of estimates. It is both to anticipate taxes and to give an amFle margin to Parliament and to Govern. ment for whatever services the course of the financial year may bring into view. Wel:, that is the view of the motion that is before the committee. And now I ask is it stated that these Excheuer-bonds are an undesirable form of security ? For no q w, having described the motion, I must come to the consideration of what is the nature of the amendment, and this, I am bound to say, is the part of my case which I enter upon under a sense of the greatest difficulty. It was with the utmost curiosity I listened to the hon. gentleman when he came to that part of his speech —a part which I must say stood in strange contrast with the rest. Nothing could be more effective than that part of the hon. gentleman's speech in which he was criticising my operations —nothing more limping than the argument of the hon. gentleman when he described and defined his own amendment. Does he, or does he not, mean to tell us that Exch equer -b on d s —th a t is to say, documents of the nature of Exchequer-bills, but current for a longer period —does he mean, I say, to tell us that the opinion of the city of London is adverse to the creation of such a secu rity? The hon. gentleman carefully avoided making any such assertion. It is very well for the right hon. gentle man opposite (Mr. Disraeli) to refer to the various classes of wild animals with whom, according to his own account, he has been in correspondence? (Laughter.) The right hon. gentleman having favoured the committee with au account of the information which has been privately im parted to him as a matter of favour, I possibly may also not go far wrong if I acquaint tee committee with certain infor mation that has been imparted to me as a matter of favour. It is to this effect :—That some of those letters which are sent out from the Bank—l apprehend as a matter of form on all such occasions, and before the payment of the deposit, which is the decisive time for determining whe ther the transaction shall go on—were purchased at a low rate by gentlemen, who did it with a view to send them to the right hon. gentleman, who, they were pretty cer tain, would turn them to the best account in the House of Commons. That is the counter-information which has reached me through some of the private channels of infor mation to which the right hon. gentleman has referred. But does he, any more than the hon. member for Hunt ingdon, state that the Exchequer-bonds are a kind of se curity which has been condemned by public opinion in the city of London? I claim no credit for the invention of these securities. Their creation was recommended to me by persons of great weight, with whom the hon. member is in daily communication. My belief is, that it is a very rational and convenient kind of security ; and that al though of course there are difficulties in the establishment of a novel kind of security in the London money market, which make the course of such a transaction less smooth than if we were dealing with matters entirely known and usual, yet I do not hesitate to express my belief that pub lic opinion is in favour of the creation of such a stock. What, then, does the hon. member for Huntingdon mean by this motion ? Does he mean a vote of want of confi dence in the Government? He did not say that he meant a vote of want of confidence, and I will not discuss it on that ground, because the right hon. gentleman opposite said it was idle to treat it as a matter of want of confidence. He said the committee had a perfect right to pass a judg ment—and so I agree with him, it has—upon the means proposed by Government—for what? Not the means proposed by Government to meet the exigencies of the case, for that has been done by the taxes which have is ceived the sanction of the house—but to make a temporary provision in anticipation of the proceeds of those taxes. What, then, does the motion mean? The hon. member for Huntingdon does not say that we are making an un reasonable demand—that we are asking too much ; nor does he deny that the taxes will have to be anticipated by some provision in the way of ready money. He referred to Sir H. Parnell, who states in his admirable and useful work on finance that oue great reason for reducing a large unfunded debt was, that at the commencement of a war it deprived Government of the command over Exchequer bills, until the war taxes should become productive. That is precisely the case with reference to which this pro posal is brought forward. The honourable gentleman, then, does net refuse it because the sum asked for is too large—he does not venture to condemn Exche quer tonds, or to say that that is an inconvenient form of security, or unacceptable to the capitaliste of London. Ile has not stated that I am wrong in asking for Exche quer-bonds, instead of Exchequer bills. I heard the hon. member, indeed, say at one part of his speech that the money might have been raised by Exchequer-bills if I had not destroyed the market by injurious measures. Well, now, the hon. gentleman not having told us in plain terms what his amendment did mean, I am obliged to get at an affirmative proposition by showing what it does not mean. It does not mean that we should have raised the money by Exchequer-bills, because he said that we might have done it if we had not spoiled the market ; and, of course, if the market was spoiled, it is clear that we could not take this course. He does not say that we ask too much ; and while asking you to condemn the issue of Exchequer-bonds by his motion, he does not think fit to say that they are a form of security of which he disapproves, or that they are a form of security disapproved of iu the city of London. (Haar.) Well, then, what is the meaning of the amend ment ? I must say that lam only aware of one meaning it can have. It appears to me, after watching the debate carefully, that the meaning of the amendment is thatthere should be a loan in the ordinary sense of the word—that there should be a creation of stock. I think that is the inference to be drawn from the'fip3ech of the hon. gentle man ; indeed, I think it was declared with tolerable plain ness and ingenuousness by him. It apj eared still more clearly in the course of the debate, for the hon. member for Belfast (Mr. Cairns) stated that he thought there should be an equitable adjustment of bur lens between ourselves and posterity. Well, sir, I was very much struck by that phrase "equitable adjustment." It seems I was wrong in the conjecture I repeated from others with re spect to the birth of the phrase " heaven-born." Let us see if I shall be more happy in tracing this phrase to its origin. I think it was a phrase invented by Mr. Cobbett, and in tended to describe the terms on which what is familiarly called the sponge should be applied to the national debt—it meant with him the composition which the nation should make with its creditors ; and now the hon. member for Belfast proposes an "equitable adjustment" of burdens between the present generation and posterity, and I think did pretty well correspond, a s to its inequality, NhviisthPin t he idea of Mr. Cobbett, for his plan was simply to borrow in the money market whatever you may require for the expenses of the war. Well, that is the plan of the hon. gentleman the member for Belfast. The right hon. opposite held, as I thought, very much the same I think he said it was better, if we wanted money, to raise it in the usual manner; and to th a t he thought we should follow as much as possible lgaenngtul raiseersn i g e a . n the precedents in our possession. I could not help being struck on an early night of the session —I think the first evening on which we had any financial discussion—by a sen t en ce which fell from him. He said, "You had better go and borrow seven or eight millions now, fori f you do not do it now you will have to borrow it on worse terms, and at a higher rate of interest." The recommendation snowed me that the right hon. gentleman greatly cherished the idea of a loan. He has thought fit to taunt me to-night with having proposed to increase the malt tax out of spleen towards the party opposite. I cannot, sir, enter on any such discussion with the right hon. gentleman. If there be those in this house who think that I myself could be actuated by such motives, or that, if I were actuated by such baseness, gentlemen of this disposition must un doubtedly be quite beyond the reach of such feeble argu ment or expostulation as I can offer to the m . (Ch eers .) I , therefore, wish the right hon. gentleman to understand that if he should repeat charges of that nature in this house they will receive from me, at least, no other answer than silence. I cannot help reminding the right hon. gentle. man, who is sometimes fond of a reference to history, that this doctrine of loans is not the doctrine that in ancient t i mes was in favour with that party of which. as he informed ns the other night in expli c it t erms, h e i s "the humble leader." (Laughter.) Yes; the right hon. gent eman has reproached me—no doubt very jus ly—with want of humility, and I want to show the terms in which he has advertised his own position. (Renewed laughter.) Well, now, to pr coed with my reference to history. What are we doing—we who are adverse to the landed interest ? We are resisting, as far as we can—not on abstract princi ples—not with a vow registered in perpetuity, but under present circumstances —a proposition sometimes insi diously suggested, sometimes timidly and faintly half uttered, some ti m es broadly proclaimed, under the title of an " equitable adjustment"—to shirk bearing the weight of the burden at once, and to recommence the ca • reer which Mr. Pitt was obliged to commence in 1793. But the right hon. gentleman the "humble leader" of what he calls "the interest connected with land" is pressing for loans. Let him, however, go back to the origin of the funded system, to the times of Dean Swift. He denounced the early and unnecessary recourse to that system as im politic, and as injurious to the nation at large, but as most of all injurious to land. And, so far from admit ting the charge, that the Government is actuated by spleen against the party opposite—so far from believing them guilty of a baseness that would deserve impeach ment if there were a grain of truth in the accu sation—l say that we are defending the interests of most of all of the most permanent and substantial description of property in this country, when we ask the House of Commons to meet as far as they can the expenses of the war from the taxes of the year, instead of by mortgages on posterity. (Loud cheers.) The labourers of the coun try may emigrate to distant shores. The movable capital of the country may emigrate;even while the owner re mains at home, by being lent in foreign investment. But the land ! That cannot emigrate—that must remain, sub ject to the mortgage of the national debt. It is that mort gage which we are endeavouring to keep comparatively light. (No, and a laugh.) It is that mortgage to which the right hon. gentleman repreaches us for not making an addition. Now, sir, I have stated this at some length,be eanse I was-not' - willing to make a light - assumption-on a matter which I must confess appears to we-of groat im• portance. I hope the attention of the committee will be fixed oil the matter really at issue. (Hear.) I have shown you that the tefril of the motion are utterly unworthy of the occasion. (Cheers.) I believe it is a dwindled and emasculated form of some broader proposition which was PreVionsly entertained—(hear)—that sornesfeeks ago there was cmirigie enough to frame a design of endeatouring to tempt the House Of Commons out of the path of self-denial ' and self-command, into that eat 7 and downward course of immediate creation of stock ; but then it was seen in what manner the House of Commons answered the invitation of the Government to grant new taxes, it was then thought a motion in favour of a loan a little too much for the House of Commons generally to admit or endure—(cheers) —that it was better to disguise and soften it ; to perhaps present it—(l am greatly obliged to the hon. member for Buckinghamshire for the phrase he has supplied to-night) —not with its face and features fully displayed to the gaze and admiration of the world—but that it was better to make the amendment only commit the house to a loan in masquerade. (Loud cheers.) A loan in masquerade is what we are here to discuss. It is not because the Ex chequer-bonds are preferred to Exchequer-bills, for we have used the alternative that the Government may em ploy either which appears to be recommended by con veuience. It is not because the demand is unreason able—it is not because we can safety dispense with the meuey, or the power to raise the money. It is bscause we do not not raise a loan, and it is because upon a loan the humble leader of the landed interest is set. (Loud cheers.) I am unwilling, even in closing the remarks I have made to the committee to enter at large—and it is quite un necessary for me to enter at large on the discussion of the polity of creation of stock at this period. (Hear.) I ven ture to think that the manifestation of the feeling of the house on former evenings has been quite sufficient to show that it will not accede either to an open or to a co vert proposal for such a purpose. (Heat, hear, and cheers.) Sir, I have been told by the right hon. gentleman that I have indulged in unworthy sneers at Mr. Pitt, and the right hon. gentleman says that Mr. Pitt is revered by his countrymen, and received from them an eleemosynary tomb. I have claimed, with respect to Mr. Pitt, as I have claimed with respect to Mr. Fox, or any other historical personage, that freedom of criticism which belongs to our place in this house—which it is the duty of the represen tatives of the people to exercise when they are endeavour ing to draw wisdom from the experience of former times, with reference to modern emergencies. (Loud cheers.) Sir, it was in that spirit that I referred to the errors of Mr. Pitt. If I used one word which seemed like a sneer at that great man I deeply regret it. It was the keenness I freely grant, with which I was set of showing what ap peered to me the immense importance of the proposition for which I sought to obtain the practical assent of the house—the enormous dangers into which Mr. Pitt, not only as an individual, but acting, as I said, as the repre sentative of a misguided people, unfortunately led the country. (Cheers ) I stated at thatl period—l now state again most explicitly—l will not enter , nto the question whether the creation of loans is to be treated as the indi vidual error of Mr. Pitt, or the error of public sentiment. I will freely grant to you that has nothing to do with the argument. It was not Mr. Pitt depraving and perverting the public sentiment, but Mr. Pitt, as I believe, giving way to public sentiment. That, too feeble for the emer gency of the time, he entered on a policy for the creation of stock, the ruinous and disastrous consequences of which we are still feeling. (Cheers.) This may be stated in one sentence. Let us only recollect that if Mr. Pitt had made in 1793 the efforts which he matte in 1798, and in sub sequent years, the effect would have been this—the country would have paid heavy war taxes six or seven years sooner, and therefore six or seven years longer, and the debt at present would have been less by something like 500,00J,0001. of money. (Hear, hear, and cheers.) And was I not justified in making re ference to those errors ? It was not for the purpose of dwel ling on those errors that I referred to them, but for the purpose of drawing a broad contrast between the errors of the first years of the war and the noble and gallant efforts made to redeem them. (Loud cheers.) It was for the purpose of fixing, as far as I could presume to fix, the attention of the committee on the change of policy of which Mr. Pitt early perceived the necessity, and which he devoted the last years of his life and the last re mains of his strength to bring into activity and opera tion. (Loud cheers.) That was the motive with which I referred to Mr. Pitt. I referred to the error for the purpo -e of drawing the attention of the house to the mode in which that error was at a subsequent period retrieved. But the right bon. gen tletnan worships Mr. Pitt he lauds Mr. Pitt; he exalts him to the skies. For what purpose? That we may imitate his virtues—that we may come down like he did, and endeavour to inspire the British Parliament, as it is our duty to do so as far as our power extends, with sound views of the exigencies of the moment? No. But in order to induce us to imitate the errors of Mr. Pitt—(cheers and counter cheers)—and to repeat those errors in the light of experience, and without the excuses which may very fairly be pleaded on the part of those who ori g inally fell into them- (Cheers.) If the conduct of the right hon. gentle man is that which I have a right to suppose, and I think I am right in saying the meaning of this motion is that there ought to be an immediate creation of stock—if that is his recommendation, and he wishes to support it by reference to the memory of Hr. Pitt, it reminds tne of a scene which once took place in this house, when the memory and autho rity of Mr. Pitt were quoted against the principle of com mercial freedom. There is a particular instance in which Mr. Pitt, acting under the pressure of circumstances, did a Copt a measure hostile to that principle, and his authority was quoted in the House of Commons. Mr. Canning, his follower, who said his political allegiance lay buried in his grave, resented that reference as an insult to Mr. Pitt. He was not satisfied with compliments as a great Minister, when used as an inlucerneut and seduction to commit that Minister's error. Mr. Canning said :—" Those who allude to the memory of Mr. Pitt, while they wish to draw us into an imitation aids errors, remind me of those barbar ous nations who profess to worship the sun in the heavens, who adopt him for their deity, but indifferent, when in the blaze of meridian glory, when he falls into eclipse, come with their cymbals and their dances to adore him." (Loud cheers.) That is the view which Mr. Canning took of those who pronounced eulogies on Mr. Pitt, and said that Mr. Pitt was a great man and had an eleemosynary tomb, in order to conceal that which was steadily the policy of Mr. Pitt in his closing years, and to induce the repetition of the errors of the earlier portion of the war—errors which he saw, of which he le peuted, which he used, and induced others to use, the most tre mendous, efforts to redeem. What did Mr. ritt do when he found the country in the state into which it was come — sinking deeper and deeper into the mire by the lavish use of that national credit to which the hon. gentleman has re ferred? He did as we do. He came down to the House of Commons. The hon. member for Huntingdon said he hada great respect for the House of Commons, but at least there were some things which the House of Commons could not do, and I think he said the House of Commons could not induce a man to buy an article which he did not want or he did not like. I fully grant we have not the thumb screw, as in former times, for the pupose, according to the language of religious persecution, not of punishing those who were unwilling to believe anything, but to make them willing to believe. The house has no command of such instruments as those, but I am silly enough to believe the votes of this house have a considerable effect in inducing men to buy to-morrow what they will not buy to-day—to give a price to-morrow which they would not give yesterday. (Cheers.) And I rather think ex perience is on my side, because whereas fourteen or fifteen clays ago people would give no more than 871. for an annuity of 1001, bearing interest at 3 per cent. Consols, within three or four days they will give 891. and some thing more, for that very self-s one annuity. (Hear, hear.) Anti I am really apt to believe that certain votes of this house have a great deal to do in bring ing about that change. (Loud cheers.) But if you are satisfied with the experimental effect of votes of the House of Commons; I am still weak enough to believe that, if it be the determination of the House of Commons that the financial measures for raising new taxes shall be passed into law, they will be passed into law, and that no inconsiderable effect will be produced by that decision of Parliamenton gentlemen who deal in the particu lar commodity of money in the city of London—(cheers) — gentlemen with respect to whom, permit me to say, if I did drop a word which seemed to savour of disrespect, I deeply regret it, because I hold it is not for any one in this house to find fault with any class of his fellow coun trymen, least of all is it consistent with duty or propriety in a Minister of the Crown. (Hear, hear, and cheers.) As Mr. Pitt made his appeal to the House of Commons, so we appeal to the House of Commons; as Mr. Pitt placed before the House of Commons his vote for its sup port in the system which he proposed for raising the ne cessary means from the country, and thereby obviating., as far as possible, the necessity for resorting to stock, so we at the first moment of the war make our proposal to the House of Commons, entreating them to assist and support us in such an effort as may be reasonably ex pected from the wealth and power of the country to raise the means towards meeting the expenses of the year. (Hear, hear, and cheers.) The right honourable gentleman has referred to what was done in the year 1847, and I shall make a remark upon that subject, for it touches upon one point that I have not yet touched upon in the speech of the right hon. gentleman. He says in the year 1847 a loan was raised by Consols, and he asks what would bey. ur condition now if you had raised that loan by Exchequer bonds in 1847. It is quite unnecessary to enter into a comparison of the circumstances that dictated one course to my right hon. friend in the year 1847, and that dictates another course at the present moment. (Hear.) The cases are entirely different ; that was an isolated opera tion ; this is a period at which unfortunately we have before us the prospect of a continuing and extraordinary demand upon the public purse. (Hear.) The hon. mem ber for Huntingdon objects, according to the terms of his motion, that we bind ourselves to pay the Exchequer bonds in a particular year ; and I ask is that doctrine sustainable by a reference to practice of experience? It is the very thing we do in the case of Exchequer bills. (Hear, hear.) But with this diffetence, that we do it for five times the amount, and that in a few days it may be neces sary to call in nine millions of Exchequer-bills, and re issue Exchequer-bills for the same amount if necessary. (Hear,hear.) o pay off, But the hon. gentleman having felt that he got into a particular diffi cu lty d rew a di s tinction between promising and promising positively to pay off. (Cheers, and laughter.) I am unable to appreciate the value of the distinction certainly ; and I do not know that the hon. gentleman will attach much more value to a note which says, "I promise to pay," than to a note which says, " I promise. positively to pay." (Laughter.) He says that in the Exchequer-bonds we say we promise positively to pay, and that in the Exchequer-bills we only say we promise to pay; but that is not the fact; we make a promise to pay in the case of Exchequer-bonds as we do in the case of Exchequer hills ; the whole question of the renewal on agiven day, if it shall be thought fit to renew on a given day, or to liqui date them, and the rate of interest to be paid in case we shall think fit to renew them. The hon. member for the Wick Burgles has stated to-night that railway companies in this country are renewing their debentures every year to the extent of fourteen millions ; and will any hon. mem ber attempt to justify a vote in favour of amendment on the ground that we cannot renew two millions of Exche quer-bonds on the public credit? (Cheers.) No, sir; and we may make an appeal again to the House of Commons on the ground on which we stood at first. (Cheers.) As to the matt i f he wishes of retrospect for h t whicho t ep opinion iu of the House o honourable gentleman refers, of Commons on these matters, let him raise the issue in plain and intelligible terms. (Hear.) What we have now got before us is, the question of raising money for the expendi ture of war in anticipation of the taxes ; and until the proceeds of those taxes are received we make our appeal to the House cf Commons, with the full confidence that the House of Commons will answer it. (Cheers.) I join cordially in the sentiment expressed by the hon. member for Huntingdon; I—and I may say the same on the part of my colleagues—have no other desire but that the com mittee shall vote on this motion as they think shall be most for the advantage of their country. (Loud cheers, amidst which the right hon. gentleman resumed his seat.) Mr. T. BARING promised to say only a few words in reply, but felt that the right honourable gentleman had put questions to him which he could not evade. (Hear, - hear.) . The first. question the right honourable gentleman asked him, Do you object to the amount of the vote?" and to that he (Mr. T. Baring) would reply, that when the right hon. gentleman had ' (Yet two millions (the whole deficiency being 3.t millions). by his first resolution, and when four millions of taxes were to come in, in the course of six months afterwards he did not want an addi tional four millions of bonds. (Hear.) Then the right hon. gentleman asked if he would say the amount could be ob tained by Exchequer-bills, and to that he would answer that,'damaged as the market had been by the conduct of the right hon. gentleman, the Exchequer-bill market could still bear the amount. (Hear, hear.) And he would also state that when the right hon. gentleman proposed to bor row at 4 per cent., payable in four years, and the rate of Exchequer-bills was only 3 per ceht. ; they would, if they agreed to the proposal, be borrowing in an imprudent way for the country. (Hear.) He would say there was this ad vantage in borrowing on Exchequer-bills, that it would be borrowing from year to year, and if the war were short they coud reduce the rate of interest for the Ex chequer-bills, whereas by pledging themselves for four years, if the war should terminate to-morrow, they would be bound to pay the 4 per cent. (Hear.) Then the right hon. gentleman that his (Mr. T. Baring's) opinions tended a fortnight ago to make a motion in favour of a loan, and he would tell the right hon. gentleman that what ever he intended to have done he would have done openly. (Cheers.) He never had any other project or intention than to move the resolution he did move, and that reso lution was to the effect that whereas he thought it unwise to name any fixed period for payment of positive obliga tions, ho thought it was much less dangerous to fix a time after six years than it was according to the plan of the right hon. gentleman to fix the time at four and five years. (Hear, hear.) The right hon. gentleman asked would the bonds be unacceptable in the City, and to that he (Mr. T. Baring) would reply, let the right hon, gentleman look to his lists, and to the amount of subsciyptions, and then he would see if there was such a general wish to have those bonds. (Hear, hear.) He thought he had answered the question of the right hon. gentleman. (Cheers.) He made the proposition with no covert object or intention of moving a want of confidence, hut he said it was unwise to adopt the course which the right hon. gentleman had adopted. (Hear, hear.) He ould have let bygones be bygones, and not have referred to the statements of the right hon. gentleman, if he had not challenged criticism and defied contradiction, and ac cused those who differed with hina of gross ignorance. After that speech, it was impossible to let the right hon. gentleman go without some answer, however feeble. (Hear, hear.) And when the right hon. gentleman told him to bring the question to issue in the house, he would tell him that he would leave those financial measures of the right hon. gentleman to the judgment of the world. And if the right hon. gentleman wanted criticism, he would leave him to his hon. friend the member for the Wick Burghs, who had not treated his financial statement with extreme ten derness.. (Cheers, and laughter.) The committee divided, and the numbers were— Ayes 290 Noes lBO —lO4 The announcement was received with loud ministerial cheers. The Chancellor of the Exchequer's original resolutions were then put and agreed to, and afterwards reported to the house. The resolutions agreed to in committee of ways and means on Friday were reported and agreed to, and bills founded thereon were ordered to be brought in. STAMP ACTS. The house then resolved itself into a committee on the stamp acts, and, on the motion of Mr. WILSON, the following resolution on stamp duties, on conveyances, charters, &c., cp as agreed to, in order to remedy a defect in the act of last session :—" That the respective stamp duties granted and made payable under the several heads or titles of duplicate or counterpart,' and progressive duty,' in the schedule annexed to the act 13 and 14 Vict., c. 97, shall respectively be payable upon and in respect of, and deemed to apply to, the several con veyances, charters, dispositions, and contracts, described under the head or title of conveyance,' in the Schedule to the act of the last session of Parliament, c. 63, and to any duplicate or counterpart thereof. That, where any such conveyance, charter, disposition, or contract, as aforesaid, shall be male in consideration of any annual sum payable for the life of any person, or for any period determinable upon death, or any indefinite period, as here inafter mentioned, the gross value of such annual sum. calculated according to the respective tables in the schedule annexed to the act of the last session of Parliament, c. 51, in any case where such tables are applicable, shall be deemed to be the purchase or consideration money, and such deed or instrument shall be chargeable in respect thereof, as a conveyance upon the sale of property, with tne ad valorem duty granted and imposed by the said act of the 13th anil 14th Vict., cap. 97, in lieu of the duty chargeable under the said act of the last session, cap. 63. And where the annual sum shall be payable for any period determinable upon death, or for auy life subject to any event or contingency which may determine the same, or for any indefinite period not extending beyond a life in being, the value thereof shall be calculated as if such annual sum were payable absolutely for the life of the per son upon whose death the same may or must cease, and without regard to any such event, contingency, or period respectively." The resolutions on the stamp duties, agreed to in com mittee on Friday, were reported to thei house, and bills founded on them were ordered to be brought in. The Customs Duties Bill was read a third time and passed. The Valuation of Land (Scotland) Bill went th rough committee pro forma for the purpose of amendment. In answer to Mr. WHITESIDE, Sir J. YOUNG stated that the Towns Improvement (Ireland) Bill would be taken at a morning sitting after Whitsuntide. The Public Statues Bill went through committee, and was ordered to be read a third time on Thursday next. On the motion of Mr. PIGOTT, a select committee on medical relief was appointed. Mr. FREWEN said, before tha house adjourned, he wished to state that he had received a letter from a gentle man alluding to something he said on Thursday night. He was proceeding to read the letter, when he was called to order. The SPEAKER said no gentleman out of the house Was entitled to know what passed in the house, consequently no gentleman in the house could read a letter referring to what passed in the house. (Hear, hear.) The house then adjourned at a quarter-past two. SIIIPPINO INT ELLIGENCE. CUSTOM-HOUSE, MAY 22. ENTERED INWARDS —The Lion, from Gravelines ; Leonne, do.; Jane, Ghent ' • Stad Dordrecht, Dort ; John Henry Yates, Dantzic ; Vesta, Corunna ; Den Gode Moder, Christiansand • Fr eesland, Worcurn ; - White Mouse, Lisbon ; Release, Gallipoli ; Anna Catharine., Flensburg ; Palm, Antigu' ; Santos, Matanzas ; Pauline, Callao ; Lion, do. ; Pearl, Para ; George Guildford, Odessa ; George Frederick, Konigsberg ; Eclipse, Rouen ; Minerva, Mauritius ; Anglesea, Jamaica Kate, Galatz ; Wilber force, Mauritius ; Virginia, Odessa ; Kate Callao ; Duke of Richmond, Odessa ; Hylton Maid, do. ; Industry, Dun kirk; Juno, Uckermonde ; Anna Dorothea, Nykjobing ; Emanuel, Skive • Agnes Blackie, Callao ; Panama, do. ; Mary Ann, do. ; Ondemenong, do ; Garland, do. ; Johanna, Carolinenseil; Fendraglit, Ystad ; Kangaroo, Port Philip and Cape of Good Hope; Cormorant, Rotterdam ; Mary and Emily, Stettin : Clara Catharina, Carolinenseil ; Reena, Nykiobing; Vrow Hellegina, ditto; Renshaw, Mauritius; Emmanuel, Rander; Elizabeth and Mary, Brussels; Geb kea, Memel; Gen. Von Wrangel, Stralsund; Marie, Wool- Emerald, Antigua; Jantina, Groningen; Feliza, Belize; Marys, Memel; Giovanna Leopolda, Venice; Gretina, Skive; Essex, Thisted; Neptune, Aarhaus; Eindracht, Carolinenseil; Mentur, Memel; Elizabeth Marie, Aarhaus; Enigheden, Neustadt; Vriendschap, Dantzic • Saint Jocob, ditto ' • Mediterranean, Belize; Clarendon, ditto ; Artag • non, Dragomestra; Candidate, Hamburg ; Rio Packet, Rio Janeiro ; Prince of Wales, Gothenburg; Ondernening, Colding ; Furet, Gravelines ; De Tweeling, Svendborg ; Gloria 1)eo, - Nykiobing • Tennant, Hamburg; Ceres, Cal mar; Iliona, ; dolconde, Bordeaux; Patriot, Lan zarote ; Elizabeth, Dunkirk ; Vera, St. Kitt's and Neves; Genereuse, Caen; Zeus, Tarragono; Empire Queen, Cuba; Margienna Margaratt, Nykiobing; Nereid, Odessa. ENTERED OUTWARDS FOR LOADING The Reli ance, for Quebec and Montreal; Spirit of the North, Shanghai ; Stad Dordrecht, Dordt ; Thomas Ilvrrison, Madras and Rangoon ; Robert, Demerara. ; Vesta, Alex andria • Armaes, Ceylon; Braganza , Payta, ; Ripa, Cuba ; White 'Mouse, St. John's, Newfoundland; Queen, Oporto and Lisbon ; Jenny Lind, Demerara ; Top Smet, Port Adelaide; Emigrant, Hamburgh ; Clarendon, Sierra Leone ; Burgomestra Van Reenen, Melbourne; Dos, Demerara. CLEARED OUTWARDS WITH CARGO The Eliza beth, for Stockholm ; Elsina Engelina, Leer ; Rosa, Ber bice ; General Wiltshire, Aden ; Tantivy, Sydney ; El speth, St. Lucia ; Salacia, Hobart Town. LIVERPOOL, May 22.—The fore part of a vessel of about 400 to❑s, bottom up and copperecl, was passed, May 9, lat. 48 N., long. 28_W., in the vicinity of the Three Chim neys, by the Queen of the Ocean, from Virginia, who spoke and enchanged cheers with, on the 16th May, lat. 50.20 N., long. 9.38 W., the clipper ship Lightning, for Melbourne. The Glencairn, from Glasgow, has arrived at Quebec (May 10) the first and only ship from England at that date. MEMEL.—H.M. screw steamer Archer, arrived in the roadstead for provisions and water, reports an English steamer to be approaching with four itussian prizes in tow, supposed to have been taken out of Libau Harbour yesterday evening , where several steamers were in the roads. Weather fine ; wind variable ; 14 ft. 6 in. water on the bar. The, Bellona, of Bristol, from Cardiff to Quebec (cargo railway iron, was abandoned 18th April, with stern frame forced out, cargo shifted, and unmanageable, having been pooped by a sea during a heavy gale the day prey ous, in lat. 47, long. 31; crew saved by the Cleopatra (s.), arrived here as above. A DEFECT IN THE Lew.—Lord Campbell has done good service to the public by an emphatic assertion of the law of fraud on the trial of two persons at the Central Criminal Court for a conspiracy to defraud, by selling as Allsopp's ale a spurious liquor which was not Allsopp's, but compounded by themselves. The case is capable of extensive application to the public service. Thus, if it can be shown that two persons are engaged in it, so as to make out a conspiracy, the practice of adulteration, so extensively revealed by the exertions of the Lancet, might be brought, as it should be, within the grasp of the criminal law, and judges and juries will not be slow to discharge their duty and punish. But we would respectfully suggest to Lord Campbell whether the case does not plainly exhibit the defect in the law of fraud. Here, if the fraud had been practised by only one of the defendants, he could not have been convicted. The fraud, as such—that is, the act of cheating—is not punishable. It is only punished in this instance by a sidewind, alleging a conspiracy to cheat. Thus, accord ing to our much-vaunted criminal law, it is a crime to plan a fraud, but not a crime to execute it. Would it not be more rational to punish directly an offence which we punish indirectly—to make that a criminal act done by one which is criminal when done by two I —Law Times. [ADVERTISEMENT.] - HOLLOWAY'S PILLS FOR THE CURE OF LIVER COMPLAINTS, INDIGESTION, AND DISOR DERED STOMACH.-Mr. Richard Haynes, of her Majesty's Dockyard at Plymouth, for several years had not had the enjoyment of a day's good health, constantly suffering from indigestion and liver complaint. He had the best medical advice from both army and navy surgeons, but the disease yielded not to their treatment, and various other remedies were tried with a like result. At last he began to use Holloway's pills, and this fine medicine has so strengthened the tone of his stomach and invigorated his constitution, that he is most perfectly cured, and en joys the best of health.—Sold by all druggists, and at Professor Holloway's Establishment, 244, Strand London. COUNTRY MAIIKETS. CHELMSFORD—MAY 19. The market to-day commenced with an advance of from is Od to 2s Od per qr., but a great number of samples being on offer that advance was not sustained. Spring corn, ex cept oats, met a dull sale. Malt advanced in price to the extent of the new duty, lOs per qr. Prices to-day were as follow :—Wheat, white, 'old 6Gs Od to 85s Od, new 663 to 85s ; red, old 54s to 81s, new 563 to 81s ; barley, 27s to 35s ; chevalier, 33s to 38s ; grindin • 21s to 30s ; malt, 71 s to 65s ; chevalier, 74s to 78s ; oats, 263 to 33s ; peas, partridge, 40s to 45s ; white, 47s to 495; boiling 54s t o 6 s ; dun, n ew , 40 s t o 42s ; beans, tick, 41s to 41s ; Harrow ticks, 39s to 47s ; Mazagan, 40s to 443. COLCHESTER -MAy 20. A better supply of wheat, but, owing to the price' asked, only a limited business was done at last week's prices. Barley, beans, and peas saleable at quite as much money. Prices to-a..ty were as follow :—Wheat, white, 763 to 83 , '; red, 72s to 845 ; barley, 34s to 3s ; oats, 29s to 33s beans, Mazagan, 4'.'s to 44s ; middle and small, 44s to 48s ; pe 39, white, 56s to (30s ; grey, 42s to 445. Official Statement of the Quantities of Corn iu the port of London, from the followir the 15th to the 20th May, both inclusive. , &c., received ig ports, fro' -.1 I g Colchester Harwich ~ Leigh Mallon 20) 490 250 - - • 785 609, 115, 1001 - f - 16; - 308) 21 KIRKCALDY—MAY 20. Here to-day we had small supt.lies of all kinds of grain. Wheat, owing to the high prices asked, sold slowly, but made 2s per qr. advance. Oats, too, were about 13 per qr. dearer, and barley was is per qr. lower. Wheat. I Barley. I Oats. I Beans. First Second I Third 62s Od 35s Od 358 Od I Os thl Oatmeal, per bag of 2801bs imperial, 48s Od to 52s Od. COAL MARKET.—MAY 22. Prices of Coal per ton at the close of the market ~ d. Wallsend, tee. Bate's West Hartley 19 6 s. d. Buddle W. Hartley 2 ' 6 Wharncliffe l7 3 Carr's Hartley 2O 6 Bell's Primrose 16 0 Chester Main 17 3 Eden Main 18 0 Holywell .... . ..... .........18 6 Bell ' l7 9 Howard's West Hartley !Belmont 17 9 Netherton 2O 6 Hetton l9 0 Old Adairs 16 0 Haswell l9 , 3 , Ravensworth Hartley ...20 6 Kepler G range lB u Redheugh Main.. 15 6 Russell's Hetton 18 0 'Canfield Moor Butes 18 0; Stewart's l9 0 Walker Primrose .........16 3' Denison l7 3 West Hartley 20 Heugh Hall . 18 0 Wylam 19 (!South Kelloe 18 9 Birehgrove Graigol a 25 4, "„, I Derwentwater Hartley. 20 n u Harton l7 3iGrey's West Hartley ....20 n u Harvey Wylam 16 3; Kil ge tty St eam 4l v Hilda 16 91 Wallsend, &c. SEABORNE MAILS. (N signifies that the mails are Gent from the General Post-offlCe by tin nixht —and If by the morning—despatch.) Day when in wit ui From we:. When COUNTRIES in General 'Post- Port du- 111 Office, London.. Oise ache. England. Imerlea(byllrit.pack)N Every Friday - Liverpool Each Mon. America (by United Sts. packet) .......... N 'day 2 .... ...... Liverpool {Arrived Unerica (by U States packet) ..........N April 25.. .• Southampton] ‘ustralia (via South.; ampton) .......... M ; May 4 ..... • Fouthampton 'Way 29 Ditto (via Nlarseilles) NMay 8 . Ditto (via Cape of goodl Hope) ........... !rneertela Africa ( West Coast)..Nl'?3d of the month . Plymouth .. June ti Alexandria.......... N 'B, ' 1 ,24, & 30 of ni Dover .... Alexandria ..........M 4th & 20th of moo. Southampton Bahamas ...........M ;17th of the mont' Southampton' Belgium .... Nll tally Dover ... .May 1 Brazil .• • • • • •....:.. Al ;9tb of the mouth.. Southamptot June 16 Buenos '9th of the month.. Southametoo May 1 6 Cape of 1005 Ilope ..Nll4th of the moat Plymouth .. Cape of Good Hope ..N ;14th of the month. Southern nton Cape de Verds • N 14tH of the mo n th S ou th amp t on Ceylon (see India) Ceylon .. .......... ..N 1 14th of the montf Channel Isles ........NlMon.,Wed.,&Ftld. Aouthampton Tu.Tl , 9° Chili.... M 125 & 17th of moat, Slouthamptor, { May 1 China (see India) 1 Constantinople N {7,8,17,21,&27 of m. Dover Constantinople ........ ;4th & 20th of moat Southamptoll Cont. of Europe M& N Twice daily ...... Dover .. ; T w icedelli Egypt (see India) France ...... M& N {Twice daily— ... Dover Twicedll ll l .;lbraltar .......... 11 1 4, 7, 17, 20, 27 of ti, Southamvun: May 6 Greece (see India) 1 Greytown ..........Mi2nd & 17th of mon. southampto, may 1 ltamhurgh ..........N;Tuesday & Friday {London ....• Havannah .......... At 2nd of the mont , !Southampton June 1 Holland .. M; Daily ...... •14allv Honduras 17th of the month.iSoutham pit). May 16 India (vlaSouthampt.)M,4th & 20th of imoi.lPlym uth May 20 India (via Marseilles) Lk! Bth&24th of meet! Dover lonian Isles (see India)'7, 17, & 27 of moo Dover.... • • , Ireland ........M & N;Twice flatly {Holyhead . • ,Twice(Pr/ Li5h0n.............. MI, 9, 17, & 27 of m.lSouthampion'MaY ' 26 Madeira At {9th of the month Aouthammonllay 1 6 Madeira .........,... N , 235 of month .... Plymouth Malta (see India) melta ~.,.•......., 5 ;7,17,19,27, 30 of m.{Dover mauritius (see India) vatirithis .......... NII 4th of the month Mex'co ....... ..... '2lul of the month. .Southampton June I Naples . ........N ; hth th2stholmon.{Dover ;may 2 New Granada ......M;25 & 17th of montl Southampton Ay 1 New Ze ;By private ship „Various part ;Uncertain Papal states ........ NI 15th2 , thormon. iDover ey 2 Peninsula 17 th2Bthohnon. !Southamptot. May 6 Peru . ..... ..,Me td & 27th 01 mon {outharriptot, May 1 iDover May 2 Southampton, May 6 Houthamptoi. May 1 Plymouth _ - „.. Natal .... 14th of the month N l 'bth I ,tll2sthointon,, Tuscany...N sthlstt , 2sthotmoti. Venezuela .. ~ ~ „ ~IVf i 2cl & 17th of month Van blemen's Lanc (teer Australia) ........ West Indief, DO'ver ..... Il‘lay 2 'Dover 2 SoutharnptoniMay ISouthamptetjJune I NI 12d I7th o month * When any of these late fall o i a iunday, the mail. will 19 .: lespatchei on the following day with the exception of the Indii. Southampton), and the Malta, both of which will be despatched t h day preceding. MELANCHOLY SUICIDE.— On the evening of Saturday last the proprietor of an hotel situated in one of th e most fashionable quarters of this city, lodged infortnai tion at the central police-office, that a young lady ha just committed suicide in his house. Lieutenant Robb was instantly despatched to the hotel, in one of the bed-rooms of whi c h h e f oun d a woman, appare ntly nearly thirty years of age, in her night-dress, suspende d by the neck with a cord f rom th e w i n d ow - s hutter, quite dead. The mode- in which the fatal act ha, been accomplished wa s by un f as t en i ng th e cor d o f tll window blind, supple men ti ng i t w ith h er b oo t an staylace, fastening the end to the knob of the shutterj and passing it over the shutter at the top. She ha stood on the windowsill, and, with the shutter partia ll y closet), put her neck into a noose, thrown her feet offs and thus effected her purpose. It appears that she caul° . to reside at the hotel on Monday last, since which tits ° she had been complaioing and pretty much confined to bed, but had occupied a good deal of her time in writing' She was last seen alive by one of the servant girls of the house on Saturday, about mid-day. The swa e girl, on going into her room with a letter about 3 o ' c locl' in the afternoon, found her in the position already described. She had brought no luggage along with he r beyond her articles of wearing apparel, and an orgy mental Fiench fruit-box. This latter contained a fe cv , trifling articles, and a n um b er o f letters, which le a to her being identifi e d as J ess i e Lauder, whose family resides in Edinburgh, to which city she apparently belongs. The melancholy act appears to have been the result of disappointed love, and to have been deliberately premediated. She must have been elr gaged f or th e l ast day or two in writing parting let' ter. to relati ves an d f r i en d s, all couched in the Ws affectionate and endearing terms. These display an iri s ' tensity of f ee li ng , an d, at t h e same ti me , a p hil oso phy under the most poignant sorrow, that is almost W e : concileable with th e desperate issue. One letter is 10i ; dressed to a young man, who appears to occull situation in the Customs in a neighbouring seapor t ' whom she frequently addresses by the endearia appellations of "My own Jem," and "My d ellr husband." She asks him to abstain from drinls iog, to come t, Glasgow to receive her body, ai l o also to lay her head in th e grave. S he appear s w have written to her lover a few days previously, and the letter which the servant girl took up to deceased's roo: when she found h er d ead was an answer to it. 11., apologises fo r d e l ay i n writing to her, ascribes this ""t, lay to her letter having been mis-sent to a town thre. miles distant f rom hi s proper a dd ress, and i n proo f of 1 ,, t he enclosed the envelope, marked "Mis-sent to Lieutenant Robb took possession of the property of deceased, and immedi a t e ly inti Mated the melanchl e fact to her father and t o th e young man to who'll 9 .4 seems to have been so deeply attached.—North Brit" Daily Mail. 818 T II S. OF A SON. On the 19th inst., at Brussels, Zoe, the eldest daug ll s of John Ryan, M.D., of Maryland-house, Stratford , o f wife of Adrien Carton de Wiart, advocate of the Cour t Appeal, Brussels. t he On the 19th inst., at 1 , Oxford-square, Hyde-park , wife of Dr. Van der Byl. OF A DAUGHTER. Oa' On the 19th inst., at Clapham-ri se , M rs . Benjamin _. 4 / 0 On the 19th inst., at 88, Ebury-street, Pimlico, the''' . of James G. Lynde, jun., Esq. MARRIED. rharle fi On the 18th inst., at St. M ar y' s , Ch e lt en h a m, - Waterloo Hutchinson, E sq ., B enga l E ng i neer st° Ell G. beth Montier, eldest daughter of the late Lieut.-W(3" Hutchinson, F.R.S., Bengal Engineers. DIED. On the 22d inst., at Blackheath, Mrs. George B rc)ckel' bank. On the 19th inst , at Amherd-house, Somersetshire, J°l3ll Gould, Esq., aged 84. On the 6th nit.n her 21st year, at St. Thom e, v g i:, Indies, Henrietta, i wife of Lieutenant F. V. R. ler 56th Regiment Bengal N.I. On :he 28th ult., at Elmwood, near Montreal, Ca a te tC rea l, at an adva nce d age, Mary M`Gillivray, sister o f th Hon. W. M'Gilli vra y, o f St. Antoine-house, g° ll and Penighael, Argyleshire. .0711.reps.a. LONDON: Printed and Published by MURDO of No. 112, Strand, Printer, at The Sun 0131e 0 , o f Strand, in the Precinct of the Savoy, in the C 01132 "J Middlesex, Tueschry, Jirser 13; 185, ,d 1 13 4 300 Tllli Satur Stalls till 4 anuot next, Postp the C: taken FUN VA , ' didat tines Api ii or be tie i Coun Is col Is MT it, at miser -T and CEL Fair La' lone Das Lfc OF Chili Dee CII Nov Use dou Pre