The Sun. — London, England, 1844-06-14 00:00:00

,-' .enee of t Va —E,; d id no hat therv.l:l:6, tho Cs' ve. i•jot i rt i n om! l i.f or e nce-; or t' ne t the tecurt;S lie 11 5 1r v ,4 4 11 1, 1 1 .;„. i hers• p l y. come to rd o nent for o , ll bo fr , by then', o Ltc +, o f thOb" bc hbOUrhOOU se; COLIV 3II . ni() ; 14 , 10,` notlalnh, 17: aanage nien , o r) it conduct. ts — En o nowleog bear.) gdtx e .00 qu est' I Lsion and o 1 L the fa ce s ilbi ) ore upo n th ht .4 h e thong to hd Wanly t " )° ' to I ° , eiP l e than detail, as More of tes. than would enable them to change their As long as they kept up the corn-laws or any i ler ; system that caused sueli a drain upon the bullion, n Woted be d erangements i n the currency' and sonse s_e,,t ,e ceiernercial einearessment ; and it must be re le sted that this corn, in being paid for, had drawn no • then tin millions sterling eut of the country. It was hat ne „ " ad al essary for hi m to go i nto any f urt h er d eta il s. H e uove men there, in his Opinion, the proposition of the rilMe Tit was soun d an d w h ere i t was unsoun d , an d though he should wish the measure mo:lified in the in stancesll4 he had shown, be had stall great pleasure in gi ring support t o i t. Mr, se ODEHOUSE said it was his good fortune to be n_Placed line a pa r t o f t h e country where the banks were admirably n a e d, wh ere the people were satisfied with their ma geme net, th em. an d where th e y h a d th e grea t es t con fid enc e i n hey deserved now the opinion which had been ex oPfret_s.cd lsy Mr Huskisso n in 1810 when writing on the subject e l e 7 t lting generall y . Th at em i nent aut h or i ty sa id , " Manyl.'ennarge them as being at the root of the evil, but let the rk)pa stock be r es t ore d to a soun d state o f h ea l t h , an d t h e va ult r amifications in the country would soon be found to de serve no blame." H e ( M r. W o d e h ouse ) did not w i s h to ex tenuate the evils that had followed from a too great ex ,7_u_slon of the currency, but he was afraid the Govern t7nt. would soon find that they had run into the con ") evil, and had subjected the country to the chances of micon e top great , contraction ; and, unfortunately, they were deter eeo not to give way at all—to permit of no relaxation what teir_et their plan. They said—" We will hold you fast and ssi xi!'t . and would listen to no suggestions—hear of no eompro to 'e To him ( Mr. Wodehouse) it would be much pleasanter the7,„fith.the Government if he could possibly do so. But di , n t t h h t e m no alternative ; he wished to (Sod they would do ntinder these circumstances, he could only satisfy his own fulfilment of his duty by voting against the propo ses of the Government. Mr • C. BULLER said, as he bad a little to do with the Wording of the re solution of his Hon. Friend, he felt some dig oe ment Hon. Mebm at the ojecti beronsfor th Monty-seat. had been taken ' to t it the form s rnt it• The objected . It ot e . toed as if no one could be pleased with it. The Chancellor Mererite came forward, and with what was rather a Mere rile taunt of the Government, said it would have been teatmanly to have moved that the Bill be read a s , cond time th t d aY six months; but his Hun. Friend did n)t object to th e renewal of the Bank charter, therefore he did not oppose fo ! great object of the Bill. Had he moved the second reading ss ,` that day six months it would have implied that he did not itch th e Bank charter , to be renewed at all. It was not his ' at ten tion to go a t an y l eng th i n to this question, but he must ss a .te this, th at i t h ad never b een c l ear l y l a id d o w n with w h a t insect this interference with the paper of country banks was d w e ; Some said that a large issue of parer by country banks 47" endanger the convertibility of the paper by the Bank of tive ß ' a nd The Right Hon. Bar net said that it would check rtoeation. Why ha d he red t them that long list of lv at s e banks which had failed, e xce p tp to intimate that he I, as going to provide a remedy for this undue speculation? He be t.:l,eci that the law as it stood did all that a legislature could do p s t_ i the circulation of the country on a sound footing. He ap is,"e" of the principle of the Bill of 1819. He thought it "hatfuunded on honesty and common sense—it put an end to e. Rasa kind of lie by Act of Parliament. Notes being but eo rt n !es to pay, it enforced the payment of those promises as Is enforce the performance of any others. He equally s eoved of the Bill of 1825, which put an end to the circula f-tt of ene.pound notes. The Legislature might always inter ees' not to regulate credit, but to regulate what were frauds credi t me . • It had not been shown that the disasters of the / it rican banks were caused by speculation in banking only. hwere caused by an over-speculation in all kinds of trades. ere the system of small notes was carried to ex e • The " shinplasters," which were in general "neulation, were notes of 2s. each, or half a dollar. 'Where ; 0 411 ' 1 (4es as these were current, it . was . impossible for any one tL eaow the stability of the banks issuing them . He thought 1;1 Government was also right in taking those measures which st : to the establishment of joint-stock banks. He thought e se tin eg was more unwise than limiting the number of persons r e rged in banking. The precautions that had been taken had Y answered, aid wherever the failure of joint-stock banks t ,!'d taken place he believed there was no instance in which helders of those notes had not been paid. The object of g; Present measure was still farther to change the banking j e ", t ern ol this country. There could be no doubt that the °b ole' of the Right Hon. Baronet in limiting the paper currency es t he country banks was to prepare the way for the ultimate tebli shmento) one bank of issue. Now this limitation j e e „(Nr- huller) objected to. All their measures on this sub th-`„nad hitherto been sound, but, in adopting this principle, of e Jtight Hon Baronet was embarking on the unsound course eporiting one particular form of credit . The only result WO, s d he, that the people would resort to otter forms of credit qa e -e ," ; would be less safe. Much confusion had arisen on this Sel e "On by the lee of the term " paper-money ;" the term was te.fonsistent one. What was the proper meaning of the of i r ,",_izoney ? It was some peculiar commodity of value e t s :ao all nations had agreed to take as the instrument of ex ti ge• What was a bank note ? It was nothing but a par ectalar form of credit—it had no intrinsic value. It might be a n j a gible instrument, but it was intrinsically worthless, and was 41 ,„Y a form of credit. He objected to the plan of the Govern et, because it was delusive, and was calculated to produce c` worst effects. He could not see upon what grounds the do ° :: r nment were justified in pursuing the course they had th;',,' There could be no doubt that it w as the intention of b k o,"ight Hon. Baronet ultimately to pu t a n end to p riva t e i s , - ,7 1 altog e th er . It was true that he did not attempt to do it ""e first instance; but he put such restrictions upon them 'el:ntild cause them to give up banking business altogether. present measure would cut down the circulation of the C at ry banks from eighteen to ten millions. He considered p r l Motion that had been made by his Hon. Friend a most .° A l' l O 7 one, and he should, therefore, give it his support. h e a l ". 112A8 FERMAN would vote for the . Governme b n e t, co b n u - t tid e °Ped that some of its obnoxious regulations would tae l ' e s cl in Corninttee and removed. The respectable . country Were tied do;Fn in too stringent atticy, by having their r ehati, missy m confined to :.,ea..yeragferomof last two years, a prudence and others during which, some of them Pelr''settuence of the difficulties of the country, had been corn teased, to curtail their issues. The proposal made by the 41. - ,."'Y bankers, that they should be either perm itted to is s ue th e amount than the average of the last two years, or that 4,!° 4 nnuin should be calculated upon an average for the last Ve n J e ars was certainty not unreasonable . He wished to a -10 t o, the subject of a memorial which he had presentedd Ra s t ut First Lord of the Treasury, and which %It , s i,gned by a great . n . umbe_r_of the bankers in London, Platning ot the restriction of the circulation to 14 000,0001., her P:°P.sing that a power of expansion should be vested in P rn 2lajesty's G o vernment and in the Bank of England. W' what th e y had heard that night farm the Right Hon. . to t i s t L s eman he feared that the Government would not consent th e sat Proposal ; but he hoped that farther time might make taffeta lock m er e kindly on the proposition It could not be th e t nat 14,000,000/. was the exact amount required , and all s o y asked was that a power of expansion should be vested thi -tw b h ere, so as to prevent a crisis, in the e v ent o f such a l ag eing likely to uccur. had "' WA RBURTtiN said the Hon. Member for Liskeard Of Pied wh a t was the object of the Bill ? Why, the object e,,,, p 'ne Bill was not to prevent speculationsano Bill could to e nt that • not to prevent baukruptey—no Bill hoVi d t , Pleven; that ; but to ensure . convertibility— res, s it sort of convertibility with which he had heard, to his she r l s e , the Mort. Member for Lambeth declare, that he ',sit s ; be satisfied that the paper should be worth so much Th e or so much Coffee.— ( " No, no," fro -n Mr. Hawes), Ib le ji"n• Member denied that ; but what was the test he had teas . " during the term of n on-convertibility ? Why, he con liesi'ed that thie Bank had conducted itself properly during that ale rki, and that the currency had not been depreciated.because, tes d it i ted acc or di ng to its value in sugar and certain other scora bss 'es, it h a d not undergone depreciation, The Hon. lent sitin °r Lambeth had certainly not gone so far as to set up an ass, rk t standard of value, but he had set up a standard of be' , which, he admitted, was something tangible ; but that 11 ) , n ot wh at h e (M r. W ar b ur t on ) und e rstood by convertibility. Itsti on sertibili t c e understood the convertibiley of paper into h e a pT ed the objet of the Bill was to secure that convertibility. ° 4lit` l " n • member for Warwick contended that the Bill ea t e - not to extend to the restriction of•country banks , be. `bos s k 't appeared from the statements made by persons from 41 41,1' 1 ' 4, a, before the Committee of 18-39-40, that they were ee eit e to regulate their country paper in conformity with the stl, 2e s , or with the gold in the hands of the Bank of Eng. it appeared that the country bankers never slid con bilit t° these exchanges, and it was indispensable to converti n, that they should do so. The only objection that could urged against the measure appeared to him to be Pi e d that the Bank of England paper , should ex del and contract in proportion to the stock of bullion ; but it 50 1'0 Provide the same with regard to the country banks, and *1 4% 4 was defective. It seemed to him of little importance 4 11,,r country bank notes were convertible into gold tati s ea of England notes, but it did not go far enough, inas tt as It did not make the country paper expand and can 'ars ' 4ent the Bank paper did. Ile did not find fault with the Gri ll ee for that--the present opposition showed that they to attem t it. The had let t r° visled f a o s r fa i r ts u e ' x t p w an a s s io p n rudent and contraction, but they y had ! L ate*. 4 „ s x linnet founded on the average of the two preceding t he , ss The effects to be apprehended from the contraction of ,l'ten l es rre s ney had been greatly exaggerated. The only conse ,4on.`,.et that contraction would be the substitution of a small La ;l el' of gold for the paper which would be withdrawn. Now war 'L o se that thi s gr eat country. which at the close of the ` • s old " a re an expenditure of 120,000,0001. per annum, 11(4 provide a little gold for the deficiency l ine r Z . currency, was toe absurd to maintain. An y entnent was, that a great deal of gold was produced in 1; 0 1414” and that Russia was so jealous of our power that she ha d h net allow it to come into this country. He ass h e s , s a t r d that " Aurum per medios viral Sattellite . s . ;" A sth s "(mid remind the House that, durirg the war, Air. th roe had • gh t ,. carried the gold for the payment of . our _troops t 'lee s we midst of the French army. It was ridiculous to thi s ' that any jealousy could prevent gold from being brought 'alas f eft ntryagethe facility of its transport rendered it se applie b kl n tl 1; 15r the Standard of e'alue. It passed over . all obstecles ; If s „ th s r u agine that a poor country like Russia would lock st . ti ni t , gold mines from us, was perfectly absurd. The k at; 0 , 11 " not profess to prevent speculation, which i h ' t say 4 one of the elements of rise of price. . He .did th °se b s ,Was not an element, for if every man deposited gold sne ""x, and had credit only for the amount of that gold, er ne pra of the country might be carried on without ey nY gold at all • but if they gave him additional credit ttetpak_egas, him ad . ditional power of purc_hase, and that would to et w00t.3 ot price. Lie was happy to hear that the Gove_rn -41..a115,„, w firmly resist the application of the London 1/tinkers e: t p Nit ) , an ., expansion of currency under circumstances of r r en e ,"; s i t vsould destroy the ehole plan, by expand g the e xa onl y ;_the very period when it ought to be reentracted. te s a Y te maintain convertibility was to contra4t and se !Cia tis In": currency in proportion to the amount of od the 14'ring co's• The Government had adopted that m e f sthat DAR nvertibyhat was the object of the Bill, and t:ir. overnment deserved the thanks of the robot's', el t t f, ' l t of E sI lY admitted that if they made the issues of the kt ° o _ , ett ier g and dependent upon exchanges they could not lie!ters eave out h country banks ; but whet the country b zet s , l n od s t elsnpla of was, that they were plaeed en too to 4cie l l it l e o r ri s,.....be u t a i s s l'l o Zhich would place not only the country who depended on them, in a very difficult .ker, `, Hear, hear," from Col. Sibthorp. ) Country th a p ir isse e ; a ' during the last few years, been very eare9 k . t oo _ a nd accommodations, and it certainly was limiting so ' t t h le, soa n xi r m r "le to take the average of the last two years Pe e , There had been no recently but : , :e ti , ,ineensu_ttlo w e_ utraloc.seen called for by the wants of the esti eti w ow , the effect of thus limiting the eirest. , i g n h d t ue b : everybody to contract their COMmer. tri lt et (s kL t Z b atlon in th e manufacturing districts tha deficiency of Partially remedied by mere of Nils . ef far rne *ind i f j_ could not be therms/ in the agricultural diss e en r could n u r ey so contracted the basis of the circulation, the sho w ed. 4 Possibly have that accommodellon which he th. contraction in the issues was very p.essekeintlst ‘ an bi oatenothie adoption of 6, eyetem of small bills, thee ke rn ' g F" 1 be more ruinous. Wi tined fordth respect to the that e -e rnu,s, a greater issue than that sdlewed by the te ens nrin c i lt was very strange that the Bill should mu. ed i n ctst ? e, and, at the same time, permit a license which te.`er c,,._ Qcs uPPosition to its provisions. thought the na.ek I socil s sh ould deti n_e_id be farther extended, nest,pt the coon tro,osisr " aurae advantage from it. "AR Would have beets iv,ery favourable to the seat th e B • be read isecoild tjxne that day six months. The first question was, had every person who had mercantile transactions a right to trust whom he pleased, but this Bill attempted, to abstract that liberty. A might go to under the present system, and offer him a price for his goods which he,_ia as willing to accept of, but as A had not the money, and as he was unknown to B, he gave him a bit indorsed by C, who was known to B; A having put his name on the bill was deemed satisfactory. B put the bill in circulation, but it happened that neither A or C were known to D, but he was willing to take the signature of E ; thus it was all the letters of the alphabet, as he might say, were engaged. These transactions were deeined perfectly innocent, and were never interfered with so long as they kept above the sum of 5/. ; and so long as the promise was to pay at the expiration of two or three months, but if the prom e was to pay " on demand," and the sum beneath five pounds, all the malignancy, and all the mischief was said to attach to it. Demand for gold caused a reduction of price, and abundance of gold the reverse ; and, therefore, he could perfectly understand how paper currency might depreciate or rather hinder the appreciation of gold. By our legislation, we certainly did run some risk of injuring the convertibility of the Bank of England, and the great danger that Bank had to fear was the loan of fourteen millions to the Government which the present measure imposed. He would now call the attention of the House to the way in which they had legislated upon this suject, and to which he (Mr. Gisborne) objected altogether. ( Here the Hon. Gen tleman took a h,storical review of the different measures passed by the Legislature on the subject of the currency, but has the same view has been given in reports of precedi• g speakers, we refrain from repeating it.) The Hon. Gentleman having d at the legislation of 1-19. said that he agreed in the pro priety of a return to cash payments, but he did not agree with the proposers of that measure in the standard of value they had established. When at a subsequent period this return to cash payments was not found to be sufficient to ward off the evil which afflicted this country, it was bound necessary to resort to other measures, and they were told if they only suppressed the issue of one-pound notes, all their difficulties would vanish. They were suppressed, and very shortly afterwards the coun try was again in trouble. They were told the currency bad only to be put on a sounder footing and all would be well again, and to this end the infallible remedy was hit upon of li miting the number of partners in a bank to six. This led him on to the time when trouble ccming again joint-stock banks were established. In 1836 or 1837, he forgot which, they first heard the mention of one bank of issue, which arose from a remonstrance addressed to the Go vernment by the town of Manchester, and Mr. Jones Loyd having told them they were right in their view, they became fully satisfied on the subject. They never thought, or they could net see, that the object of Mr. Jones Loyd was to put down every monopoly but his own.—( Hear, hear.) The Hon. Gentleman concluded amidst loud cries of " Divide, divide," by stating that he would support the motion of his Hon. Friend the Member for Lambeth. Sir ROBERT PEEL said nothing which he had heard at all influenced his judgment against the Bill before the House. All the persons who had spoken against the Bill had also exeressed themselves in favour of a metallic currency. He did nut know from the Hon Gentleman who proposed the resolution, or from the Hon. Gentleman who closed the de bate, why the metallic currency should be abandoned.—( Hear, hear ) The Bill of 1819 was passed on the recommendation of Committees which had examined the whole subject. The House would recollect what had occurred in the inquiries re specting the establishment of silver as the standard of value. A resolution was passed declaring the dollars to be worth four shillings, but it was discovered that at that rate the dollars left the country. The value of the dollar was subsequently de clared to be 4s. 6d., and the exportation of dollars ceased. It was a contradiction of facts, which he thought the experience of every man recognised as perfectly plain. The Hon Gen tleman had referred to the United States to show that the analogy drawn from the affairs of that country was totally in applicable. Why, in the United States they had joint-stock banks; :hey had a paper convertible into gold; in the consti tution of the banks they had every guarantee fur solvency ; but there was an unlimited competition of issue, and the conse quence was, bankruptcy and general failure.—( Hear, hear.) In 1811 there was a State bank, corresponding to some extent, in functions and powers, with the Bank of England ; this hank exercised a Lcontrol over the others. In 1811 this central State bank was abolished, and three years afterwards there was an universal suspension of cash payments, in c msequence of the check af forded by the central bank being removed. In 1830 another bank of the same kind was established—it ceased to exist in 1833, and a few years afterwards they again found all the banks twice in succession suspending cash payments. This, he contended, was an argument for an increased control. Then, let him refer to the opinion of two men of the highest autho rity in questions of this kind in the United States—Mr. Webster and Mr. Gallatin. The latter gentleman said that the failure of the State banks was a natural consequence of the dissolution of the Bank of the United States, which exercised a salutary control over the circulation and issues of the others. Mr. Webster again said that he was in favour of a convertible paper currency, because no paper could be made equal and kept equal to metal, except it was convertible into gold and silver on demand ; and what body or power ought to be made the regulator of this? What was their experience in their own country? Did he pro pose to disturb a perfectly successful system. They all adhered to a metallic standard ; but it was said there had not been shown sufficient grounds for interfering with the issue of paper. Why, what warnings had they not had within the last twenty years? What proofs had they not had of the necessity for legislative interference, in order to maintain the principle of convertibility. There were four years in which there was a great drain of gold from the country, 1825, 1832, 1836, and 1839. In that period it was decisively proved that the country banks did not conform in their issues to the exchanges, and were not reduced according to the efflux of gold. On the contrary, their issues had increased, when, if his principles were tru they ought to have been contracted. It was said that the Bank of England had the power of protecting itself. He knew that the Bank of England had the power of main taining the convertibility of its own notes during the most dis tressing periods, but it would be by moat tremendous sacrifices of the trade and commerce of the country. —( Hear, hear.) It was that he wished to avert. It was also said that no securities were taken against the Bank of England. Why, the whole measure was founded on taking securities against the Bank of England. and it com pelled the Bank of England to conform to certain principles, to which, in certain periods of monetary crises, it was their opinion it ought to conform. The amount of their issues or securities was limited to 14,000,0001., and the remainder of their issues was to be issued in gold. It was said that the Batik of England might restrict the issues of their paper, but they provided against the possibility of that, because they gave power to per sons of going to the Bank and demanding paper for gold. Thus they obliged the Bank to pay gold for notes on demand, and on the other hand, they took securities that the Bank should not restict its issues by giving power to demand from the Bank paper for gold. It was said that the restrictions thus imposed on the issues of country paper would subject the country to great inconvenience—that they interfered with one firm of paper credit, and that another form of it would be substituted. If country paper were essential to agricultural prosperity, how was the fact to be accounted for, that in eight or ten agricul tural counties 1,300,0001. of country paper was circulated—in Sussex, Middlesex, Kent, Surrey, Cambridgeshire, North amptonshire, and Suff Ik, which were comprised within a radius of 65 miles of London? The whole o; the necessities of that district were provided for by country banks issuing 1,300,000!. They might depend on it, a very short experience of Bank of England papers issued by them would remove the prejudices which existed. The Bank of England, at this moment, supplied Birmingham with a circulation to the amount of 621,0001., and he very much doubted whether there was a circulation of the paper of other banks in Birmingham. 11r. MUNTZ—Not so much. Sir R. PEEL—WeII, then, but if the country banks refused to issue their notes would not the Bank of England take care to supply the want of commerce? and if those banks wished to eubstititte Bank of England notes for their own, as sixty banks of issue did a this moment, the Bank of England was ready to supply them with its own paper at a commission of one per cent. if the restrictien of the issue of country paper would lead to the issue of bills of exchange to supply its place, why had not this taken place before? It was said that in those districts the people were accustomed to Bank of England paper, and would have a disinclination to receive the issues of other banks. But here was a great manufacturing district requiring paper to the amount of 700,000/. and yet to carry on its large manufactur ing concerns it did not require 100,0001. of country paper. Were bills of exchange issued there ? If the apprehension was well founded that paper in another form would be substituted for notes, how was it that bills of exchange to any considerable value did not exist in Birmingham ? Mr. GISBORNE said they did exist. Sir. R. PEEL said tha - of course must be the case to some extent, but the question was, were they issued to supply the use of a local circulation ? The same was the case with the great town of Manchester. The Bank of England supplied Manchester with almost the whole of its circulation, and it supplied Liverpool to the extent of upwards of one million. Now a great deal had been said about the benefit of joint stock ba, king. With respect to them what was the fact? Why he bad returns with respect to those banks, the Manchester Bank, the Northern and Central Bank, and several other banks; and they presented such a detail of fraudulent prac tices as he had never befor- heard of. If he wanted any con clusive proof of the policy of interference by legislation with the joint-stock banks, many statements would supply it. There was the Commercial Bank of England, with a nominal capital of half a million ; but in point of fact, having only 260,0001. paid up, and in February 1840, only four months before the bank came to an end, the directors said " that they had the satis faction of stating to the proprietors that it continued to stand firm in the estimation and confidence of the public, and to ad vance in its career of usefulness—also that the profits for the preceding last half year had been greater than during any similar period sines: their commencement."—( Laughter. ) Here was a bank of issue, which had advanced 180,0011/. to a man of whom it was declared by one of the directors, that he could not have got credit for 500/. from any other establish ment in the town where lived.—(Laughter.) It was all very well for Hon. Gentlemen opposite to say that every man should trust his neighbour, but the history of this bank showed the necessity of some interference. He did not involve the whole of fee joint-stock banks in the discredit which attached to some of them, for many of them were conducted on the best principles, and were conferring the greatest benefit on the country, not merely by the advance of notes, but by the legiti mate use of capital. Still he believed it was as much for their own interest, as for the interest of the community, to prevent the abuse of such establishments.--( Hear, hear.) The Hon. Member for Liskeard had stated that there was some mistake in the returns of the number of the private bankers who had failed. He (Sir R. Peel) had consulted Mr. Montague, who was in the Accountant's office in the Court of Bank ruptcy, and he ascertained that with respect to six names out of eighty-six, the fiats were issued against shareholders in joint stock banks, and ;to far there was an error in the statement. He had so fully stated the general principles of this measure, one former occas on, that he would not detain them by any further remarks. He could not think that any objections which had been urged would induce even a small minority in that House to oppose the further progress of the measure. He trusted that that House would bear in mind that, during the last twenty-fitta years, they had had four decisive proofs, on four several occasions, that the princi ple of convertibility was in danger. They had had in 1825 a goat increase of country bank paper, when, if there were any truth to tbe doctrine of chances, there ought to have been a reduction. In UM they were exposed to panic; again the 44 nk was in danger, and the circumstances under which that &tiger was averted afforded a eenftrmatien of the theory for w hee l he eseeterided. It had been &glared by the Chamber of Gortitiviereo that, in consequence ef the fluctuations in the cirAtAtitlg medium, there heti teen, in 1836 and 1837, a Om of forty millions. The Ha;. Member for Paisley had referred to the cese of 1839 with apparent saj,iolsotion, asking what would then have been e l e done if the bullion iaaee 1 4 ,s e p reduced from nine to two imitherie. He believed that ee eping his p rinci p les, t he occasion woelei got arise. Why the eneoeot of geld had been reduced to two miiilop )839, because the Perak had tieen neglected those principles. The iseties had net been based upon the amount of the securities. They had disregarded the two principie; , 4y which the monetary eyetecn in ibis 4..oup t tty ought to bftt regulated, rind the e9nserence had pe,en, that tipft the Bank of England had been obligei to leap O r assig anee on the Bank of France, and then t o suddenly contract its own ciectdation, Ira order to save its o w n credit , al though by so Oleg great inceevenience was produced. Within their own experience-within the lest twenty years— they had had proof that the present iyhtetn stood in pticci of kraprpvmeßt. Government ba:dyrtlSosedl measure which, • • • -,-, _EL SUN, LONDON, FRIDAY EVENING. JUNE 14, 1844. they believed would effect that i m p ro vement, and a t th e same Th e Earl of WILTON presented a petition from the time show a proper consideration for existin g interests. He Ch am b er o f C ommerce of Manohester against the knew not what might be the effect of a combing- Birkenhead Docks Bill s . nation of personal interests against the measure, but . niroßT Du riE , -;. Lord MONTE AGLE then rose to bring for ward the the Goveroment had only acted from a sense o i f motion of whieh he had given notice, for a Committee public duty in prop ising it. To that principle they to inquire . into the emosct of the present system of steadily adhere. If any difficulty should be thrown in the way import duties. The proposition he had to make was of the u'timate success of the measure, the House, and not the Government, must be responsible; and if the Government should fait, and it should be proved that for an inquiry into a subject which deeply con increased issue had led to illegitimate speculation, termed all her Majesty's subjects, and in making it caused by that issue, they would have the satisfaction he did not call on their Lordships to come to that they had offered advice, and proposed measures, cal- any resolution of a definitive kind. He wished culated, as they thought, to avert such a calamity.—( Cheers.) to remove from their Lordships' minds any im pression that might exist that this question ought to be considered as a party question. It was They were not wild enough to suppose that they would, by any measure, prevent speculation, but when speculation proceeded F m r it om brou ti g te ht in f ol or o t i v r a ie rd s b p y r t o h s i e m out a e s d a h p y art t y he qu c e o s m tio m n it a te t e a o ll f . from undue issue, they proposed a measure calculated to check that issue. When speculation arose from other causes, 1829, the present Government had drawn several of that spirit of speculation was frequently aggravated by their conclusions. It was not consistent with the fact, a paper currency. It was not in their power, nor had they any wish to check legitimate speculation; he admitted that they could not counteract illegitimate speculation, but yet, or with Parliamentary usage, to represent his motion he asked them not to aggravate its evils by refusing to check as a party movement, or one directed against a par those which were properly within their jurisdiction. —(Cheers.) i titular interest. It was enongh for him to say that all Mr. W. WILLIAMS suggested that the debate should be his interests were bound up with the agriculture, and, adjourned. He supported the Bill, but he should wish to have in the very first outset, h o wou ld a d m i t t h at t h ere were an opportunity of stating his views on the subject.—( Cries of many evils and inconv en i ences w i c k requ i re d re f orm, i n respect i to the commercial and . manufacturing . policy of "Divide, divider " Go on.") Col. SIBTHORP, in consequence of the refusal of the toe country, as well as in respeat to agriculture. Many Right Hon. Baronet to accede to the proposition of the Lon-wise and competent alterations had been made in the don bankers, was determined to support the motion of the Hon. Member for Lambeth, out of justice to that respectable tariff by the present Government, and, that being the body, the country bankers. He would sooner place his chest, case there could be no objection to a general revision with low 04. in it, in the hands of a country banker than in the of our commercial regulations.—( Hear, hear.) But it Bank of England—the monopoly hank of the country.— was said that property would be endangered, and that (A laugh.) He was astonished—it anything could be called our commercial transactions would be undermined by astonishment in these times—at the conduct of the Hon. the House acceding to hi s mo ti on . H e th oug ht, h ow - Member for Montrose, and the Secretary of State for the ever, that there could b e no more seasona bl e ti me Home Department to a , both ap y o er curf whom had, in 1826 y , showed lly sth p em oke - fir the inquiry than the p resen t. H e wou ld a d m it that no financial alteration sh ou ld h e h azar d e d, un l ess th e selves so wedded p renc that the in favour of the 1/. notes. Exchequer of the count r y was i n a con di t i on to mee t th e Mr. PLUMPT RE complained of the oppression which the country bankers would suffer fro m th e Bill ic, its present shape consequences of the chan ge . Th e resu lt o f th e t ax u p on --an oppression which was aggravated by the belief, on the income, whiith, instead of producing only 3,700,000/, as part of the country bankers, that the nigh; Hon. Gentleman had b en anticipated, produced 5,250,000/, rendered the would, at least, leave them in as good a position as he had the present period especially favourable for altering the found them. taxes which were imposed upon a mistaken supposition Mr. MUNTZ said the only point on which he differed from that they were useful in protecting agriculture. He the Right Hon. Gentlemen was on the standard of value, which thought that he could show that these duties were no could never be made to work with the present corn-laws. protection at all.—(Hear, hear.) It might be supposed There was one point w hi c h h a d fallen from many Hon. Mem sera in the course of th e d e b a te in which he fully agreed, and that the discussion of s uc h a question to that was, that in e ve ry measu re which had been proposed they such an assembly as th e i r Lordships ; but he thought had failed most entirely.—(Hear, hear.) Whether they that the Legislature o ug ht t o exam i ne a bstr a ct queStions, were to succeed in this he would not say. It was to guide them in the application of particular measures. a very serious consideration, and in many minds The Noble Lord then referred to Adam Smith and other it was a very anxious one, seeing that the present measure econotnic authorities, who held that all taxes which pre was brought in under the auspices of those who had introduced vented the interchange ofcommoditiesbetween twonations the previous failures. He should not think ef saying more at was injurious to both. There were three kinds of duties that late hour of the night, but should reserve a more detailed to which he wished to call the attention of the House. explanation of his opinions for a future stage of the Bill. One was a duty for revenue merely, which every subject Strangers were then ordered to withdraw, and the House di- bound to submit to, as his share of the general vided, when the numbers were— For the resolution Against it Majority — 155 to prevent the competition of foreign untaxed produce The Bill was then read a second time, and ordered to be with the taxed produce of home. The case of hops was committed on Monday. one in point. For the purpose of revenue the Legislature Sir R. PEEL said that the Dissenters' Chapels Bill must imposed a high duty upon hops, and it would be there have precedence on Monday. fore roost unjust to allow the hops of France to be im- DUCHY OF CORNWALL. ported witheet any countervailing duty, But if you di- Sir R. PEEL moved for leave to bring in two Bills—one vided society into ten classes, and protected one, then the for defining certain rights in the Duchy of Cornwall, and nine would have to pay the tax of that one, and if the another f r empowering Prince Albert to sell and exchange whole ten ,were protected, then things would be certain lands in the Duchy. The other orders of the day k. i were then disposed of, and the exactly as before, except for the di s ti nc ti on and House adjourned at Two o'clocnconvenience occasioned by an unavailable imp o st. It was matter of wonder that a system so objectionable in itself should have been so long continued : nothing could justify its continuance. It was to be regretted that this question of protection had been so long mixed up with party considerations. He believed that the par ties who now supported the sliding scale would not do so if they were not bound to it by party considerations. He was, however, ready to admit that they had made considerable progress in this subject, for which he had to return his thanks to her Majesty's Government. He thought that no one could deny that the inquiry for which he was asking would be productive of good. The Right Hon. Gentleman at the head of the Government, in introducing his tariff, said that he brought it forward to remove prohibition, and to relax taxation. He said he intended to relax the duty on raw materials,to reduce the duty on articles partially manufactured, and to reduce the duty on colonial produce. Now his (Lord Mont eagle's) object in moving for this Committee was to see I how far the intention of her Majesty's Government had been carried out. He admitted that the abolition of the duty on wool was one of the most beneficial measures which had been adopted by her Majesty's Govern ment. Why then could the same principle not be applied to other articles of consumption ?—(Hear, hear.) There were protections on the statute book, which were of the most absurd character. We exported, for instance, annually, an immense amount of cotton manufactures, and yet there was a protecting duty on articles of that description coming from the Conti nent. The state of our tariff was a continual reproach to us, and we could never expect to see 'commercial prosperity until it was thoroughly revised. It might be argued with respect to the regulations as to the impor tation of sugar, that there was only a difference of Id. per pound btween colonial and foreign sugar; but their Lordships should recollect that the matter was not to be judged by the amount of duty imposed, but by the amount of sugar which was kept out of the market. Nothing could be more utterly absurd than their ab staining from importing slave-grown sugar, because it was polluted with slavery. Why, they took it from Russia and other places in exchange for their exports, and in prooortien as they Wok this sugar from other countries they encouraged slavery in slave countries. They were to admit Louisiana sugar where slavery ex isted, and they even refined slave-grown sugar here and exported it to their colonies, so that it appeared they hod a conscience in England, but had no conscience in their colonies. He would now pass to the subject of the timber duties, with regard to which they gave facilities for the introduction of an inferior article to one of superior quality. The Noble Lord went on to show that the system of protection adopted in favour of Cana dian timber had been productive of the most pernicious consequences, had destroyed the export trade to Sweden and Noiway, and the B a l t i c tra d e i n genera l, an d gave them a bad , article in the place of a good one. But the inconsiderate repeal of the timber duties subjected them to a loss of 1,000,000/. It had also a most disastrous effect on the cooperage trade of the country. The next disadvantage that those protecting duties occasioned was the diminution which it caused in the home production. If they left the imports free the exports would take care of themselves. The Noble Lord referred to the opinion of Mr. Deacon Hume on this point. Another great disad vantage of the protective system was the impulse which it gave to smuggling. He would only refer to Spain to show how smuggling was encouraged by high protecting duties. The Contrabandista system prevailed there to the greatest extent, and Spain was thereby a loser to the amount of 3,000,0001. M. Blanqul showed that the same result had followed from the same cause in France, and he need hardly remind their Lordships of the effect of high duties in this respect in this country. It appeared from the returns of the French Customs that 3,500,0001b5. weight of silk were entered for exportation to England, and instead of the English Custom-house giving something like a corresponding importation, it ap peared that only 1 ,875,0001b5. came there, so that 1,713,0001b5. must have been smuggled, thereby occasioning a loss to the revenue of 1,092,0001. Ho need only refer to the Statute-book to prove the extent of smuggling in this country. He would remind their Lordships of the case of Lord Ellenborou.gh.—(" No, no," from Lord Colchester.) He could assure his Noble Friend he did not intend to wound his feelings. What happened to Lord Ellenborough might have happened to any one of their Lordships. He had been travelling in France, and in his carriage was found some smuggled lace,which had been concealed there by one of his servants. The result of this inadvertent act was,in point of law,the forfeiture of his horses and carriage, with everything that it contained. But, perhaps the most serious evil of discriminating duties was the internal, divisions which they introduced. Let them consider what use had been made of the prohibition of the export of Irish cattle to this country, and the manner in which the wool trade of Ireland had been dealt with to keep alive dissensions between England and Ireland ; and in this country at this very moment they had the Anti-Corn-law League, and the Protectionists arrayed against each other, and on both sides imputing corrupt motives, which, perhaps, had no foundation. But, however they might deal with their own productions, he contended that they had no right to burden other countries by their vicious legis lation, which caused other countries to retaliate and to hold up their legislation, as he said before, as an object of scorn to Europe. If such were' the consequences which flowed from this protection, could they expect that the Government, or the Legislature which continued such a system, would enjoy the confidence of the country ? It might be an easier thing to frame a just system at first a e r y ti m ai i i g y, t h for rtiie prepare adoption the way, ofa new and better system.—(Hear, hear.) He had taken gra dually, than to correct a bed system which had existed for a long period ; but this was no argument against in quiry,snaoferldery7 aathi impartially, some instances from their own system of laws ; he would now advert to similar mistakes made by foreigners, and see whether they were not equally perni cious. The first case which occurred to him was that of the United States. From the year 1789 to 1807 the foreign commerce of the United States was tolerably free. During that period, when there was not such a word as protection upon the statute-book of Congress ; and the progress of the United States in wealth and power and commerce was exceedingly great—(Hear)— no argument was more frequently used than this, that althouch protection might not be justifiable in the matu rity of things, yet protection was very necessary at the outset, and a great many fanciful illustrations were brought forward to elucidate that point. Now, let them look at the imports of America as xhibiting the capacity of the people of the United States to enjoy the comforts of life. From '1789 to 1807 the population of the United States was 5,300,000, and the value of the imports ninety one millions of dollars, showing an actual consumption of ar ticles of import and luxury, brought from abroad, equal to about sixteen dollars and a fraction per head for the inhabitants of the United States. In 1807 the system of non-intercourse eommenced—then came the war, and in 1816, what was called the restriction system was brought into operation, In 1828 it was carried out to the full extent—and what was the oonsequenee 9 Why, that, in 1830, instead of each citizen of the United States having at his, command various comforts and luxuries of the value of sixteen dollars per year, he could only obtain a quarter of that spnoont. Reotric tinni Whieti yq intended foF Protection,led to the crip plink of foFeigo trade, and injury to all the inhabitants of that country. Then came the Compromise Act. Thep could 'not he More co,ncliisive woof of the luju oioostipos nil the pfotectivO a)r4foni,, example et AMericao 4 was d O nerou spo tic s tip,t4, hot tile despot might, 'by- pion it , ib i li etiit , u,b b ijoen an s w ta is t e e th an e d sy u s u te li m gh w te a n sm ea ad m e asnucsertvlioe4nVto the vilest, lowest, and most personal motives, and became mixed up with ears 1841 and 1842, imports which ought to he ell partywouldd c i o y m i s p i o a n r e s . th l e ' a k a i v n e g r a h e einirp HOUSE OF LORDS, June 13 Their Lordships assembled at Five o'clock. The Marquis of EXETER, presented 140 petitions from various places in favour of protection to agriculture. The Earl of SEFTON presented a petition against the Birkenhead Decks Bill. . The Duke of RICHMOND presented several peti tions in favour of protection to agriculture. The Marquis of NORMANBY presented petitions from Nonolk, praying for an altration in the laws re lating to coursing. The Duke of RICHMOND inquired whether there was any objection to the return of the number of convic tions under the Act alluded to by his Noble Friend ? After a few words from the Earl FITZHARDINGE, Lord WIIARNCLIFFE said ho was not aware of any objection to the returns. MOROCCO AND FRANCE. The Earl of CLARENDON begged to call the atten tion of the Government to the occurrences which had re cently taken place in Africa. The friendly disposition of the Emperor of Morocco to this country, and his constant deference to the advice of England, had not prevented his proclaiming the " holy war" against another European power, the ally of England. It could not be supposed that the Emperor had taken that course with the sanction of the British authorities. Howeier, it was now beyond doubt that he had made an invasion of the French territories in Africa, and that the war had commenced. With respect to the murder of the Spanish Consul at Tangiers, it was the fact that the man was killed in an affray brought aboutby his own con duct, and for which the authorities were not in the least responsible. It had been supposed, but he did not mean to say that it was the case, that the Spanish Go vernment had been incited to declare war by France ; but it was a curious coincidence that, after this, relations of a hostile character should so soon take place between France and the Emperor of Morocco. They might have been the result of accident, but they gave a colour to the idea that France desired to see Spain engaged in hostilities with Morocco. It was most desirable that the line of coast now possessed by the Emperor of Morocco should be in the possession of a friendly Power, because it was from thence they derived their supplies fee. Gibraltar. He could not conceive what object France could have in engaging in hostilities with Morocco, which must be in jurious to France. lie wished also to hear a contradic tion from the Noble Earl of the statements which ap peared in the French papers, that those hostilities were excited by her Majesty's Consuls on the coast of Barbary, one of which, Mr. Drummond Hay, had been particu larly mentioned. The questions he wished to ask were, whether or no the expedition to b sent from Spain against Morocco had been abandoned? —whether hostili ties had actu illy eemtnenced between France and the Emperor of Morocco?—and whether her Majesty's Con suls on the coast of Barbary had not taken means to prevent a state of things which must prove injurious to British interests. The Earl of ABERDEEN said he would endeavour to give an answer to the three questions put by his Noble Friend; but, in the first place, he would say he could not conceive any exercise of the power and influ ence of that House more useful than the interference to prevent the occurrence of hostilities in every part of the world.—(Hear, hear.) They should be equally anxious to restore it wherever it was broken. They had, within the last month, been the means of preserving peace be tween two States, at a time when it was seriously threa tened; and though, from the magnitude and power of the States themselves, the war might not be important, it certainly would have brought on calamities most ime portant and extensive in their results—he alluded to the dispute between Sardinia and Tunis.—(Hear.) His Noble Friend was wrong in supposing that the only cause of quarrel which existed between Spain and Morocco was in the death of a Spanish Consular agent. There were various complaints, into the justice of which lie would not enter, but they arrived at such a point at last as to threaten immediate hostilities. His Noble Friend said, that he nould not conceive it possible that in the present state of Spain she would declare war against Morocco unless she were prompted thereto. He was surprised that his Noble Friend appeared so ignorant of the Spanish character. This question was not only altogether a Spanish question, but the truth of it was denied over and over again both to the British and French Ministers at Madrid. They were kept in igno rance of the intentions of the Spanish Government until what was called the ultimatum was sent to the Emperor of Morocco. The Emperor desired the mediation of the British Government with the view of bringing this dis pute to an amicable settlement, and her Majesty's Mi nisters offered the exercise of their good offices for the same purpose to Spain, and it showed how little the Government of France had to do with the question, as the French Ministry . also pressed upon. the Span ish Government an acqutesence in that offer; andethere fore, as both had agreed to accept our mediation, be might venture to anticipate a settlement would be ef fected of that dispute between Spain and Morocco. If his Noble Friend had asked him yesterday whether hos tilities between France and Morocco had occurred, he should have said that they had not, and that they were not probable, and although a skirmish had taken place, nothing which could be called war would, in his opinion, follow; and he had this reason for that belief, that the force assembled by the Emperor of Morocco on the French frontier vas diminished to one-half in the course of a fey days preceding the events which had taken place, and the French authorities in Algiers were as much taken by surprise as any one else by the incident which had occurred. It was clear that the Moors were the aggressors. The affair was brought about by the fanaticism of a small body of cavalry who approached the French encampment more from curiosity than any other motive, and were thereby drawn into the affair. He agreed with his Noble Friend that war with the Emperor of Morocco could not be desirable to the French Government, and he thought they might look for a continuance of those relations which, if not friendly, had been peaceable between .the Em peror of Morocco and the Government of Algiers. The Emperor of Morocco was the sovereign of the most fanatical Musselmans in the world, and how far he could control the excitement of his own people, or deal with the formidable personage who, when driven before the French, took refuge in his terri tories, might be a matter of doubt. But he (Lord Aberdeen) had received no information of any thing like a declaration of a holy war, or that would look as if the Emperor of Morocco was prepared to un dertake a war of a serious description. He did not be lieve that such would take place ; hat if it even did take place, he need scarcely say that it would take place not only without the slightest encouragement on the part of this country, but in spite of every endeavour that could be made to prevent it. He could not question what ho knew to be the intentions and wishes of both Governments; and with regard to the conduct of the British Consuls, he had received that very day equivocal testimony in favour of those to whom allusion had been made, His Woble Friend had alluded to the statements that appeared in the French papers, He (Lord Aber deen) could only say that there was not the slightest foundation in fact for supposing that her Majesty's Consuls on the coast of lierleary any tiling whatever to do in creating these disturbances. It might bp that the weiters in those French journals had for their object rether the oyerthrey of the existing Government in Francs than thp ereatien Qf a heetife Feeling betweert the peel* hoth countries, although he hadito doubt tho thete was a lerge clas s in Franco to` whom statements of the kind Judea to wave i;;Ot ' 444CPOptillitg t 'here wPig journals in this country also, on which side he would not sa y, which probably had the same object in view. Ho could only say that there was not the slightest founda tion for the charge made against her Majesty's consuls 911 the coast of Barbary.--(Hear, hear.) have been admitted w ith th ose w hi c h were actually ad- T effected. Under such a system as prevailed at present witted. In woollens there ought to have been received, . foreign countries could not be induced to grow corn for according to the average of the preceding period, the them, and the people of this country would have barely value of 4,257,0001 There had only been received to depend on their own produce. The Noble Earl 1,400,0001. In worsteds there ought to have been re- ' had referred with satisfaction to the reduction that had ceived 5,000,000/., whereas there had only been received been made in the tariff. He was rejoiced, also, at those 456,0001. In cotton there ought to have been received : reductions upon a different ground—on the ground 6,000,0001., whereas they had had only 2,723,0001. Silks 'that correct principles had been recognised, and not had fallen from 9,000,0001 to 2,000,0001 ; linen from th a t p a lt ry re d uct i ons h a d b een ma d e. Th e Ri g h t H on. 3,000,000/. to 1,1)00 ; 000/, an d i n s ho r t a ll th great arti- Gentleman at the head of the Government• would not Iles of consumption had diminished under the system of have made elaborate theses for the purpose of those protection. What had been the working of the system little reductions, if he had not some higher object in view. in France . ? France had been extremely eager last year The Right Hon. Baronet (Sir R. Peel) knew well that for the admission of machinery from this country, and, the population and productive power of thiscountry were to their honour, the present Government gratuitously re- daily increasing, and that it was necessary to accommo pealed the export duty. France then imposed a heavy date their system to the change of circumstances. No protective duty on yarns. The effect of that was to one was found to defend monopoly ; but they were cramp the trade of her own weavers. But no always told that, if they carried free-trade into effect, sooner was machinery admitted from this coun- they would injure the revenue and render themselves try free from duty, th an th ere was a cry una b le to pay the public creditor. It was not against for protection amongst the French machine-makers. A taxes and revenue that the free-trade principle was new protection was asked for against English iron. The directed, but protection in favour of particular effect of that protection was to destroy the French wine classes. It was a fallacy to pretend that free trade trade. Thus they went round in a vicious circle of pro- would abolish the Customs' duties, because those duties tection, and injury was done at every s t e p, no t on ly t o were un i form, and the proceeds went into the Treasury. the whole people, but even to those for whose benefit Their obligations to the public creditor ought to have the protection was intended.—(Hear, hear.) 'But he the effect "of making them more careful not had hitherto looked only at the evils of protection. to impose taxes for other purposes unnecessa- Fortunately, owing very much to the legislation of rily. He was sorry to see that the doctrine Noble Lords opposite, they were not without instances of retaliation appeared still to find favour amongst of benefits derived from acting on good principles many intelligent classes in this country. Ti.e with respect to this matter.—(Hear, hear.) In mode of r e t a li a ti on se l ecte d genera l ly tended to i n j ure 1820, the Prim e Mi n i s t er o f England, Lord: Liverpool, themselves as well as foreigners. By imposing retalia stated in that House that be wished there had been no tory duties they compelled themselves to buy dearly what such thing as a silk trade. Yet what were the facts re- they might otherwise buy cheaply. If other countries specting that trade? It employed capital to an amount refused to take their manufactures in exchange for their of 12,000,0001 a year, the greatest portion of which was own produce they must seek to attain their object by expended in wages 'of labour.—(Hear, hear.) There other means. All attempts of foreign countries to in never had been a trade so much the victim of protection jure them were greatly assisted by a system of protec as that of linen ; but, after withdrawing the protection of tion. Free trade was the best means of promoting peace 4,000,009/, the trade had reached, in the, north of Ire- amongst the nations of the earth—far better than corn land, the highest state of prosperity, and the fabrics pro- mercial treaties, which were always accompanied with duced in that part were equal to the finest productions distrust, and in which one of the parties always consi of Cambray.—(Hear.) In the case of West India produce, dered himself either a victim' or a dupe.—(Hear, the protective duties had failed. After the abolition of hear.) He should rejoice if it were proclaimed to slavery and the equalisation of the duties upon East the world that henceforth they would engage and West India sugars, introduced by him in 1834, the in no more commercial treaties.—(Hear, hear,) They West Indiacolonies had improved in their prosperity, and owed some reparation to the world for the bad example he had lived to see the day when those who anticipated which they had hitherto set them. He believed that the only their own ruin from those measures, acknowledged carrying of the motion would be the prelude to a change that they were the most benefited by them. With re- which would be most beneficial to all commercial spect to the article of zinc, the reduction of the duty na ti ons . from 18s. to 25.• had led to the introduction of that ma- The Earl of COLCHESTER said that if mankind terial into many important branches of manufacture. were likely to forget their jealousies he should concur He had laid before their Lordships the whole of his with the Noble Earl in the sentiments which he had facts, and all he asked of them was to give him an op- expressed ; but, believing that such a result was not to portunity of laying the evidence before their Committee, be expected, he could not agree with the principles of free and he humbly prayed them to give him their support. trade. He thought it would be very unwise to derive p Fortunately for mankind there had been twenty-three colonies of the discriminating duties which at present years of general peace, and during that time the several existed, in the uncertain hope that they would eventuall nations of the world had been cultivating branches of be benefited. y industry, of which England had before the exclusive The Duke of RICHMOND was very much surprised possession. Why, then, should the industry of England to hear from the Noble Earl (the Earl of Clarendon) that be excluded from a fair competition?—(Hear, hear.) the agriculturists had it all their own way. If he stated America, France, and Switzerland, had become our that against farmers, they would tell him that he must rivals, but he believed that if the industry of England have dreamt it. Would any man say that the farmer were free it would be able to maintain itself against that competition. The Noble Lord conc l u d e d b y mov i ng the was not taxed more than any man in the country? The that a Select Corn- farmer who did not make 3001. a year by his farm, paid resolution, which was to the effect more than the manufacturer who made 30,000/.—(Hear.) mittee be appointed on the i m p or t d u ti es , w i t h t h e v i ew He did not at all like the speech of his Noble Friend the of considering the effect produced by protective duties Vice-President of the Board of Trade—(Laughter)—and on foreign commerce. in voting against the motion of his Noble Friend (Lord Earl DALHOUSIE said that he had to claim the in- Monteagle), he only said that whilst he disliked the dulgence of their Lordships in answering the able and Government much, he liked his Noble Friend less.— elaborate speech of the Noble Baron, but he hoped he (Great laughter.) It was said that the country should should be able to show that the motion ought not to be not be dependent upon foreign nations for the supply of agreed to. The Noble Lord stated that there was more food. But, he would ask the House, was it the way to than one precedent for the course which he was taking. make the country independent to ruin the farmers ? He stated this with perfect accuracy ; but surely the (Hear, hear.) He was an agriculturist, and he did not Noble Lord must recognise a vast difference between deny the interest which he had in agriculture. But hes the precedent which the Noble Lord had q uo t e d an d th e believed that the whole object of the free traders was to course which the Noble Lord was then pursuing. One reduce the wages of the labouring people. It was the of the precedents which the Noble Lord had cited was opinion, he was happy to say, of the great body of the the appointment of a Committee, on the motion of a Noble labourers that they were better in their present Marquis opposite (Lansdowne) ; but it mus t b e remem - condition than they could be under a system of bered that that Committee was appointed immediately free trade.—(Hear, hear.) His Noble Friend after the conclusion of a long war. That Committee, it had referred to the embarrassments of our commerce, was true, under the circumstances, produced beneficial with America, and had argued that those embarras , results ; but those circumstances were very different to ments were owing to our corn-laws and other protective those under which the Noble Lord now moved for a duties. But was not the fact notorious, that to obtain Committee. The Noble Lord then referred, as a pre- the produce of America we sent out hard dollars, and cedent, to the Committee upon this subject which was got bad bills in exchange.—(Hear, hear, and laughter.) appointed in 1839. This Committee also produced He for one would never consent to a reduction of pro most beneficial results, but it was appointed at a time tection to agriculture; and he would also support the when no inquiry had been instituted for many years. protection of the manufacturer.—(Hear, bear.) The Our commerce had for many years been in a state of agriculturists were restricted in many respects. They distress, owing to disturbances in the colonies, and a con- were prevented by an Act of Parliament from growing tinuation of war in the East and in China. Those tobacco.—(Hear, hear.) Let the free-traders take away evils had now, however, passed away, and now, those restictions before they attempted to make the when the commerce of the country was just people of this country dependent upon foreigners for the emerging from the effects of those evils, the Noble Lord supply of food. came down with a motion for inquiry. It was unrea- The Earl of WICKLOW would not intrude upon sonable for the Noble Lord to launch into a new in- their Lordships, but thought if he gave a silent vote, his quiry before the policy adopted by her .Majesty's Go- motives and reason would be misunderstood. He en vernment, two years ago, had been fully and properly tirely agreed in all the arguments of his Noble Friend who tested. The Noble Lord had said, that owing to the brought forward this motion, but he did not think that surplus that existed in the revenue of the country, now the Committee could be granted without creating great was the best time to inquire into our commercial system, alarm and embarrassment.—(Hear, hear.) He must say, with a view to the reduction of duties. The Noble however, that he fully concurred in ail the opinions of Lord ascribed the surplus in the revenue to the income- his Noble Friend, and in none more firmly, than that tax and the Chinese money. Why, this itself was an abstract principles must al wa y s b e a ppli e d w i t h caut i on. answer to the argument of the Noble Lord. The ia- come-tax was temporary, and the Chinese money had There was really no difference between the pri nc ipl es arisen out of a fortuitous circumstance, and, therefore, laid down by his ' Noble Friend and those act e d u p on b y could be no grounds upon which to make any investiga- the present Government. The• diff erence was one on l y as to time. He felt th a t the Government was acti ng so tion into our commercial system, with a view to a re- diction of duties. The Noble Lord had instanced man wisely, that whilst he agree d w ith t h e t h eory o f hi s Noble Friend, he was co m p e ll e d t o g i ve i n hi s a dh es i on cases in which duties ought to be reduced ; but the y to her Majesty's Ministers, who were earrying out the Noble Lord must have forgotten, when he did so, the same theory with sound caution.—(Hear, hear,) declarations which were made by the Right Hon. The Marquis of LANSDOWNE rose to support the Baronet, the First Lord of ,the Treasury, when motion of his Noble Friend. He thought the Noble he introduced his tariff. That Right Hon. Gentle- Earl who had just sat down, and the Noble Duke on the man -then stated that the Government were cross bench, ought to vote for this motion, inasmuch as desirous of making large reductions in the their speeches were both made up of arguments in its duties on many articles, but that, owing to favour. The necessity for this inquiry was made the the large reductions which were already con- more apparent by the fact that within the last five ears templated, it would be impossible to make the full reduc- y five distinct failures had t a k en pl ace i n attempts tc ne tions which they were desirous of' making, and therefore gotiate with respect to our com merce w ith f oreign coun they had determined to apply the reduction to those arti- tries. He believed that the only means o f re li ev i ng the tiles which were of the most pressing necessity. The ' Noble Lord had referred to the question of sugar at commerce of this country from it s di s t ress wou ld he fur gth the Legislature to place it in a state o f f ree d om. considerable fen ; but as that question would soon It was said that things which the Government had come directly under the consideration of their Lord touched were in a settled state. So far from things ships, he did not feel that it was necessary for him to being in a settled state, he believed that not many hours follow the Noble Lord in that part of his argument. had elapsed since th e p erson hi g h est i n authority on There was another - point to which the Noble Lord had those subjects declared i n ano th er p l ace t h at they wore referred, and that was the question of the duty upon in a transition s t a t e w i t h regar d to sugar.---(Hear, timber. The Noble Lord complained of the reduction hear.) That was th e com f orta bl e state of settlement in which they were i n . —(A l aug h . ) I n every ease wherein of the duty on colonial timber. Why this, was some thing like inconsistency in the Noble Lord, seeing that when the Government with which the Noble Lord was free trade principles w ere carr i e d out t h ey were followed connected was in office, the Noble Lord hi mse lf a d vo - ortwith the best results. Th e quest i on o f sugar was a most an subject, and the p eo pl e o f t hi s country ha d The duty on staves he (th e & r 1 o f D a lh ous i e ) t h oug h t ,t cated a reduction in the duty on the ar ti c l e o f ti m b er. imp more right to complain of the c h arac t er o f t h e l eg i stat i on of the country in r es p ec t o f it t h an any other subject. pressed heavily on the coopers of th e coun t r y, an d h e for one would be glad to see an opportunity a ri se o f re - This country had the mo s t ex t en d e d commerce . Wh at lieving that branch o f th e t ra d e o f t h e country. —(H ear, was the result of that ? It was th a t th e l a b ourer o f hear.) The N o bl e L or d h a d d we l t at cons id era bl e such a country was not a bl e t o consume one -h a lf o f t h e length on the question o f p ro hibiti ng d ut i es , an d sugar that was sent out to th e C a p e o f G oo d H o p e .— taunted the Government with ma i n t a i n i ng th em . N ow (Hear, hear.) Yet the people were told to be proud of he (the Earl of D a lh ous i e ) th oug h t t h e G overnment, a system which took away from them the benefits of that since their accession to office, had not shown a disposi- extended commerce.—(Hear, hear.) How was it pos tion to uphold prohibit or y d u ti es , b u t on th e con - Bible they could be believed to be sincere in their legis trary had in many cases p ro p ose d th e i r abolition. lation with regard to sugar ? because while they professed The reductions made were very consid e rable in m a ny to be guided by principles of humanity they yet seemed i alone. instances, and even in this very session a reduction was to consider thenterests of a particular class made to the amount of 450,0001., upon wool, and coffee, (Hear.) But lie thought that all due consideration and other articles. T a ki ng thi s , i n c o n nection with the should be given to the West India interest. Wh a t t h ey reductions made two years ago, amounting to 1,200,000/, ought to do was to facilitate the introd uc ti on o f it was evident her Majesty's present Government were Africans into the West Indies, subject t o no ot h er con &sirens of giving every extension to trade consistently ditions than that they should not pr ocee d to t h e Woo Indies without proper precautions b e i ng taken t e a pro with existing interests. He had now gone through all the gronnds upon which the Noble Lord had founded vide them a suitable means of t rans i t, and allowing his motion, and he trusted that, for the benefit even of them free liberty to go back t o Af r i ca w h en they pleased. those who were engaged in trade, their Lordships would He heard with great plea sure th e sent i ments of the Noble Earl; "and if this coun t ry arr i ved at a, atate of prosperity, it was, as L or d Liverpool said, in spite reject the motion of the Noble Lord.—(Hear, hear.) The Earl of CLARENDON said he did not blame g reat of their prohibitory system.—(Hear, hear.) He should, the Noble Earl for not having fully answered the speech of his Noble Friend, which was so abundant in argu- with great pleasure, supp or t t h e mot i on of his Noble ment and so conclusive in its logic, that it was impos- Friend, and he re commen d e d i ts a d option to their Lord sible to give a complete reply to it. But it seemed, at ships.=(Cheers.) all events, that in principl e th ere was littl e difference be- The Earl of WINCHILSEA sa id t h at, i n the present tween his Noble Friend and the Noble Earl.—("Xear artificial state of this co un t r y, it wou ld b e i mpossible to , hear," from the D u k e o f Ri c h mon d.) Hi s N o bl e F r i en d apply the principles of f ree t ra d e, h owever well they on the cross benches w as ev id en tly o f th e same op i n i on , might be adapted to a new s t ate o f soc i ety; b ut, borne —(A laugh.) But it was impossible for his Noble Friend down as they were by the national debt, how could they to be long in the office whi c h h e now so cre dit a bl y adopt the principl e o f f ree tra d e ? It was the filled without coming to the conslusion to w hi c h th e duty of every Gover nmen t t o , encourage home Production • and he found that the same els , Noble Earl had evidently come. And they were re t.em was adopted 'thregard to the wilily quisite in the present state of this country. Nobody interests of other countries. They were so burdened could look to the state of the labouring population of this country without seeing that it was absolutely notes with taxes that prot ec ti on was necessary to en a ble them sary to remove the strictures on trade, however they to pay those taxes. I n hi s op i n i on t h e h ome market and the colonial market would be amply sufficient to mein might differ as to the time or mode in which they were so to be removed. There was only one branch of trade to fain their prosperity, w ith ou t any referenee the f which he would refer, which was o m itt e d i n th e li s t of foreign trade at all. F or thi s reason h e s h ou ld oppose articles enumerated by his Noble Friend—that was the the motion of the N o bl e L or d. E cotton trade. In the commencement o f th a t t ra d e it Lord MONTEAGL replied. was subjected to fiscal regulati ons , b u t as th e y were re - Their Lordships th en di v id e d, w h en t h ere appeared— moved the trade increased, and the p r i c e s o f co tt on Contents—Present 3B ..“ goOds were lowered till they w ere ma d e access ibl e t o Proxies 3 76 7 the poorest of the people.—(Cheers.) Well, a ft er suc h Not Contents—Pr esen t an instance, how could they refuse to proceed in the course which had been followed by such results?— I);ur ea (Hear, hear.) His Noble Friend had alluded to th e s ilk —lB4 trade. When Mr. Huskisson resolved to reduce th e Majority against the motion lO9 silk duties he was hooted and pelted on his way to the The Vinegar Duties Bill then went through Cosa- House of Commons, and was called the hard-h ear t e d mittee, after which their Lordships adj num" Minister, but in spite of all the predictions which had been hazarded as to the evil result of his measure, he persevered, and the consequence was, that instead of the silk trade suffering fresh mills had been built, the con. sumption of silk had been increased twelvefold, and Manchester, instead of employing 3,000 in the trade, gave employment to 15,000, and the silk manufactured goods had been raised from 450,000/. to I,6oo,oool.—(Hear, hear.) He would not allude to wool, or coffee, or sugar, for his Noble Friend had so exhausted those siAbjects that he found it as difficult to fol i k - i w him as the Noble Earl did to answer hina. He would only say a few words, and they shotild be with regard to the corn laws. He confessed he ho seen nothing in the state of affairs to induce him to ;titer the opinions he held, and had so often exprussed on the subject. The evils of this law were as great as ever, and might burst upon them any day. They made the supply of fool for the popu lation dependent on the barometer, ;nd if. they had two or three bad harvest, most deeply founded insti of the people. They had had now two good harvests, of tu t i t o would be powerless in t c o o:n na ; ia. e: t ac i t 44h in a,t g rh ; sr e :_ d eu e ( m rirei a e n na d er s e, continuance of' them? Ther A k were serious, appreheiasions more than average prod rae u sim c h , eiclk b p u v ; no c a o' l i iti l entertiined with . fespec 1839, when eCPe c th t i a s hear) . --and he 'regretted that past ,x i ) Pr. ol ,e9 not t of such gbelmott;i,aprtcloivii6.ll,oe: 4 1: iQuntry was on the verge of bankrupt c y, and when they were obliged to apply to the Bank of France for assist ance, from which he believed they could exreet no assistance now, even if they were te. submit' tO the national dishonour of applying for*. They hid dabbled with the sliding-scale, but no ;malt' ehange had been Lang LONDONDERRY'S NEW WORK.—We are requested to state that Mr. Colburn, of Great Marl. borough-street, has this day published the Marohioness of Londonderry's " Narrative of her Visit to the Courts of Vienna, Constantinople, Athens, Naples, &c.," in on e volume, Bvo., with portrait, price 14s. bound, which eau now be had of all 'booksellers. Mr. Colburn has also just published:--2. The seventh volume of Miss Strick land's " Lives of the Queens of England," containing the sequel of the Life of Queen Elizabeth, and the coraplat e Life of Anne of 'Denmark-3. " The Bridal Pr Melch,a," by Mary L. Boyle, ss. 6d. bound ,nnd A s o u s t a n d cheaper edition of " Frederie'* t t be, Cgreat, his and Times," edited by Tlkopa,,a,s, Qam..Pb3g, r 2 vols. small Bvo., 21s, lo tni X . A we t s w as held bn Tuesday evening, 11th instant, at the taking Reading, for the purpos e o f tie consideration the objects and 'intentio ns ational Animals' Friend Society, of Exeter-hall, J. Se ttaltiA k in the chair. The mee ti ng was a bl y ad dressed by Messrs. May, H. May, Rev. W. Legg . . 1%. Carroll, Esq., Rev. J. Statham, and other gentlemen and ministers, and resolutions p asse d i n prai se o f the cause a t t his very valuable Institution, whose exertiop4 have been lately directed to the great cruelty sp, preva lent in the county of Berkshire. TWA. .- k neeting sepa rated highly gratified with the eren;.ng's proceedings. PUBLIC-HOUSE LlcElia44.—lt is said to be in eon,- templation vviselhe Whole system oV4o.4..snsj.tig inns and public-houses during the nett rmion. tqa.,,,e„ t , so as to' place' it on a similar fopting to, that now in practice on the Continent. by which the r evenue w ill b e. greatly increased,ind monopolies to a very great extent done swat with.-=lpswich 1 COURT CIRCULAR. His Majesty the King of Saxony, attended by his Excel lency Baron Gersdoft; the Earl of Morton, Lord in Waiting, Lord Charles Wellesley (Clerk Marshal), Equerry in Wait ing, his Excellency M. de Minckwitz, Count Albert Vitzthum, Baron de Reichart, and Dr. Carus, left Buckingham Palace, with his suite, in two open carriages and four, soon after ten o'clock yesterday morning, for Richmond Park. His Majesty, on arriving, walked in the Park, and also promenaded on the terrace with his suite. The King then re-entered the royal carriage, and drove to Kew, where hi& Majesty and suite were received by their Royal ilighnees the Duke and Duchess of Cambridge, attended by the Ba roness Ahlefeldt, and Baron Knesebeck. The illustrious party visited the Royal Botanical Gardens, where the King remained a considerable time. On the return of the royal party to to the residence of the Duke and Duchess of Cambridge, a dejeune was served. In the afternoon, the illustrious party left Kew, passing through the gardens, for Sion House, to honour the Duke and Duchess of Northumberland with a visit ; the - King of Saxony and the Duchess of Cambridge were in an open car riage, her Royal Highness driving. The Duke and DUchess of Northumberland received their illustrious guests and conducted them through the conser vatory and pleasure grounds. Attar inspecting Sion House, the royal partydrovc to Ealing• park, and were received there by Mr. and Mrs. Lawrence, who attended their illustrious visitors through their beautiful flower gardens and pleasure grounds. The King of Saxony, attended by his suite, 'left Ealing,- park for town, anti the Duchess of Cambridge returned to hew. His Majesty arrived at Buckingham Palace at seven o'clock.- The Queen and Prince Albert took their usual daily walk yesterday in the gardens t , f Buckingham Palace. His Royal Highness Prince Alb er t ro d e out on h orse b ac k , attended by Major-General Sir Edward Bowater. The Royal Family were taken airings yesterday, in the royal gardens. 'The Earl of Hardwick, Lord in Waiting on the Emperor of Russia, and Colonel Wylde, Equerry in Waiting on, his la peHal Majesty, returned to Buckingham Palace yesterday forenoon, from Rotterdam. The royal dinner party at Buckingharn Palace, yesterday, included the Earl of Hardwicke, and Mr. George Edward, and the Hon. Mrs. Anson. The band of the Coldstream Guards was in attendance at the Palace during dinner. His Majesty the King of Saxony left Buckingham Palace shortly before eight o'clock yesterday evening, to honour the Earl of Aberdeen, her Majesty's principal Secretary of State for Foreign Affairs, with his company at diumr, at his Lord ship's residence in Argyll-street. His Majesty was attended. by his Excellency Baron de Gersdorff, Monsieur dellinek witz, Count Albert Vitzthum, Baron de Reichart and Dr. Carus. , The Duke of Cambridge visited her Royal Highness the Duchess of Gloucester yesterday at Gloucester House. A meeting of Members of Parliament took plaCe yesterday afternoon at the official residence of Sir Robert Peel, in Down ing -street. The meeting was attended by about 200 Members of the House of Commons. Sir R. Peel was accompanied by Lord Stanley, Sir James Graham, the Chancellor of the Exchequer, Mr. Gladstone, Sir E. Knatchbull, and Lord Granville Somerset, and also by Sir Thos. Fremantle, Hon. H. Manners Sutton, and other members of the Administration. The Members assembled soon after two o'clock, and broke up about three o'clock. The following were among those present : Loans—Ernest Bruce, Charles Manners, Northland, Pol lington, Mahon, Ingestre, Grimston, Clive, Sandon; Claud Hamilton, Chelsea, Barrington, Alford, RIGHT HONOURABLES—J. Nicholl, F. Shaw. TIONOURABLES-11. Fitzroy, P. Charteris, James S: Wort ley, W. B. Baring, W. Dawnay, Mr. Smythe. Sins—Howard Douglas, J. Yarde Buller, J.. Walsh, W. James, J. Hanmer, F. Trench, R. Pigot, James Flower, John Johnstone, T. Dyke Acland, Horace Seymour Thomas Fre mantle, T. B. /lepburn, J. M or d aunt, W. Seymour, J. Owen, W. Codrington, J. Rae Reid, J. Chetwodae,ilyE.KFiiilirnelert: Henry Halford. MEssiEuns—Rashleigh, Charles Russell, G Sanderson, John Round, Hope J o h ns t one, Bailey, Charles Round, logg, Neeld, Dickinson, E. Shirley, Dugdale, Est court, Montague Gore, Munday, Patton Egerton, H. Baillie, A. B. Hope, Balfour, Chute, T. H ussey, G. Arkwright, B. Botfield, Lyall, W. Beckett, Whitmore, Abel Smith, Acton, L Bruges, Lockhart, Long, Cornewall Legh, R. Eaton, A. Oswald, Irving, F. Tollemaehe, Barneby, A. Hussey, Hall, S. Irton, C. Adderley, J. East, Astell, Hardy,. Forman, S. Lane Fox, M. Milnes, Greene, Mackinnon, B. Cres swe ll, W. Martin, IL Escott, P ac k e , C . Hodgson, Blackmore, J. Blackburne, Forbes, M as t erman, W . R . Collett, G. Thorn hill, P. Bortliwick, Rico Clayton, W. F. Mackenzie, An trobus, Broadley, M. Brisco, Kirk, P. Greenall, Quintin Dick, W. Baird, F. Hodgson, B. Hughes, A. E. Fuller, H. B. Denison, G. Palmer, Lawson, A. Copeland, Mildmay, IL Stuart, Blackstone, Sturt, Bramston, Farnham, 11x. Gas kell, Liddell, Stanley, Buckley, J. H. Campbell, J. Stewart, Palmer, Darley, Trotter, 0. Morgan, W o d e h ouse, Kemble, 11. Drummond, Tollemache, Newdegate, Colvile, Mainwaring, Lefroy, W. Feilden, Chapman, Stuart Wortley, Colquhoun, W. Praed, M'Ceachy, Godson, Hornloy, Allix, Smollett, Davies, C. Hamilton, Neville, Dodd, Cardwell, Clive„ Shirley, Repton, Entwisle, Waddington. AD:num—Bowles. CoLoxErs—Hugh Baillie, Wood, Rushbrooke, Rice T.revor, Verner, Pennant, Powell, Sibtliorp. CAPTAINS—Harris, Meynell, A'Court, Gladstone, Janes, Polhill, Ttkylor. The Commissioners for Metropolitan Improvements had a meeting on Wednesday, at the office in Whitehall-place. There were present the Earl of Lincoln, Lord Lyttelton, Lord Colborne, Sir R. H. Inglis, Mr. Hope, Mr. Gaily Knight, Mr. Alderman Humphery, Mr. Milne, Hon. C.'GOre, and Sir R. Stuirke. The Governor of the Bank of England had an interview with the Chancellor of the Exchequer yesterday. The Judicial Committee of the Privy Council sat yesterday. Mr. Loftus Wigram, Queen's Counsel, was heard on a peti tion from Tobago, "The Colonial Bank v. Campbell." Messrs. Kindersley, Wigram, and Burge, Queen's Counsel, were heard on an appeal from Madras— Moottoo Vyaya Raghanacllia Bodhi Gooro Surmiyperria Woodia Paver, Zemindar of Shivagunga, in the Zilla Madura (the original defendant), appellant, v. Rany Auga. Moottoo Natchiar, widow of the late Zemindar of Shivagunga, in the Zilla of Madura (the original plaintiff) respondent ;" And, by order of Revivor " Srlinut Moottoo Llyava Raglinadha Gowery Vallablrm Perria Woodia Taver, v. the Rany Auga Moottoo Nateluar: At four o'clock their Lordships postponed this case, in order to give judgment on an appeal respecting a codicil to the will of the late Marquis of Hertford, " Cruker v. the Mar quis of Hertford," Dr. LushinOon, Judge of the Admiralty Court, gave 'judg ment on the part of their Lordships, affirming the decree o the Judge of the Prerogative Court (rejecting the all egat i on to probate, dated in O c t o b er , 1838). With respect to cost; however, under the peculiar circumstances of this case, their Lordships would advise her Majesty to direct that the costs of this appeal be paid out of the estate. The Court then rasa. HAMPTON RACES. Yesterday was what is commonly called the " Grand day" on Mouliey Hurst, and if one of the largest assemblages ever collected on it be a proof of . " great ness," the correctness of the term may be admitted. Every part of the course was literally covered, the roads were blocked up in all directions, the stands crowded to excess, and the "Careless" and 'other! pur veyors for the inward man had no reason to complain of want of patronage. So far good; but to keep such a concourse in order has always been a laborious and difficult task, even with a well-drilled police—and yesterday, we must say, the men employed p rove d t h emselves helplessly ignorant of their duties. The crowd broke .into the, running ground, at all times and in all directions carriages and carts crossed it with impunity, td the constant and imminent peril of the jockeys, and such was the delay between the heats, consequent on; fie squabbling and fighting with "course clearers," and the refusal of the police to act "without orders," that it was past five o'clock before the first heat of the Cup ; was run, and half -past six before the race terminated. •The scene altogether was in the highest degree discreditable, and such as we trust will operate as a warning to the managers of the races never again to dispense with the services of the police. So much for the course. Of the clashing _fay land and water we have often spoken on similar occasions ; we shall therefore content ourselves with stating that the heat' and dust were excessive, and the stoppages, arising out of the frequent pulling up on the road (always at the nar rowest part) to allay the one and wash down the other, were, as usual, pregnant with danger to limbs and panel s . Had the agents of th e S oc i e ty for the Prevention of Cruelty to Animals been on the look out, they would hare found ample employment for a month to come, ter assuredly never were horses so overtasked—never were so many beaten to a stand-still before they had accoms plished half their work. Great as the crowd was, we still missed that general spirit of enjoyment, that perfect abandon which for years had co-existed with th e play booths (the prohibition against throwing the stick, we arc delighted to announce, is withdrawn); and made Hamp ton so unlike all other meetings, now, alas, for the un happy "lessees," innono - 4 the " has beens" o f th e Turf. It is consolatory to add that several noblemen and gen tlemen have subscribed liberally towards a race fund, that the Surrey and Middlesex Stakes already boasts a long catalogue of respectable names, and that, under the Stewardship of Lords Longford and a a a nd op G t l e a d m , rn li i a s m , i p f t a on lib .m era ay l and judicious management b hope to regain its position as t h e best of the second-rate metropolitan meetings, Of the fashionables we cannot attempt a list; of the weather, we may say in two words, that a hot dusty afternoon was followed by two or three showers, that made the return from infinitely more sup porsable than the journey to the races. The Claremont Stakes of 10 soya, each, h ft, with 30 added, for two. yrs old colts, Bst 7lb, and fillies gst 411); winner& extra. T.Y.C.- (5 Subs.) • Si r S. Spry's f by Sir Hercules ' (Matthews) 1 Mr. IL Mays Corinthian Tom Mr. Worley a Sophy D awes 3 Lord Rosalyn's f by dam by Blacklock...holted to 1 on Corinthia n Tom, and 3 to I agst the winner. ' The race, was entirely between this pair, the filly waiting to the distil ace, and winning by a length. The Marcian filly toited shortly after starting. Lien Majesty's Plate of 100 guineas ; for three yrs old, 7st 51b ; four yrs, 9st lib ; five yrs, 9st 1 llb ; six yrs, and aged, 10st 21b. Heats, two miles. The winner to be sold for 5001., &c. I'4r, Death's Misdeal, 5 yrs - (Nat) 1 I Lord E. Russell's Nat, 4 yrs 2 2 Mr. Dockeray's Dalesman, 3 yrs 0 3 Mr. T. Colerssi's Devil - among-the-Tailors, 5y rs 0 4 First heat--5 to 4 (at first 2to1) on Nat, and 3to 1 agst Misdeal—won by half a length. Second heat-- it to 1 on Misdeal, who won by four lengths. The Hurst Cep, of 40 sova„, added to a Sweepstak-eS of 3 ses;s. each ; three yrs olds, 7st 41b; four yrs, Bst 71b; five yrs, 9st; and aged 9st 51b. Mares and geldings all owe d alb. Winner tq be sold for 1501. Heat s . craee round and a d;Liance. (10 Subs.) Sir G. lleathe - ,i,e's f by Velocipede, out of Mi:S Wilfred, 3 yrs (Crouch) o 1 1 Mr ; 1 tanborough's Isleworth, 5 yrs • .......... 1 2- 2 Mr. Balchin's Crocus, 4 yrs ........................ 2 3 3 Lord Maidstone's Deuce Are, 3 yrs ............ 0 dr Mr. E. 11. Clarke's Chninmy, 4 yrs ............ 0 dr Mr. King's Nubia, 3 yrs ......................... dr first lieat.—A good raceh p . "between the first two, was won by a neck. Three or four persons who h a d f orce d themselves into the . cours,o were knocked down by the running horses, and on,l, of them taken up in a state - of insensibility —we were not able to ascertain. the conse quenee of accident. • The second and third heats were won very easy. • ~, 1