The Sun. — London, England, 1847-12-01 00:00:00

~„ Q ~ THE SUN, LONDON. carted with regard to the Bank Act of 1844 would Present in itself an ample field for investigation before the Committee which the House was now asked to grant. It would be impossible to conceal from themselves that there had been a very great disappointment in respect to the results of that Act. He did not mean to say that the public had not been guilty of extravagant exie eta ee lion as to th e c h ange w hi c h t h e measure of Use Right lion- Baronet the Member for Tamworth was likely to Produce ; but it was undeniable that hopes had been distinctly held out, not only by the Right Hon. Baronet himself, but by almost every gentleman by whom it was supported, that the effect of the Bill would be materially to diminish speculation, materially to lessen the fiuctua lion in prices, materially to contract all violent fluctua tion in the currency, and, certainly, materially to lessen the chance of any future panic or season of distress. The Right lion. Baronet, then First Minister, and the Right Hon- Gentleman the Chancellor of the Exchequer, had been cautious of leading to too extensive anticipations; and it was also true, that the eminent writer to whom reference that night had been made had, in his pamphlet c l9ll e much t o mo d i fy ex p ecta ti ons , b ut t h a t gen tl eman , in referring to the former condition of the currency, did most distinctly refer all former crises to the deficiency of the law as it had then existed. Well, now the new legislation had had a trial, and, after all, we had had a Panic more intense than ever; fluctuations in prices were extreme, and all the phensmena attending former crises in a still more aggravated form; and he could not see that the Act of 1844 had had, in the progress of the distress, the slightest tendency to give steadiness to the currency, or to contract it within narrower limits. — (Rear, hear.) Colonel Torrens, an eminent supporter of that Act, prophecied that it would preserve us from those commercial revulsions, those cycles of excitement and pressure which, as it had been felicitously ex- Veined, resulted from the alternate expansion and retrac tion of an ill-regulated currency ; but it had no such effect. Many of those who in the last year had fallen sacrifices to commercial pressure had entertained the belief that the Act would have carried them through without any precaution. The Act had done some injury in haring created among the public an unfair reliance upon the suepesed securities which it would afford, and to it might be attributed that mischief which inevitable flow e d from every interference of the Legislature with protecting objects with commerce and trade.—(Hear.) Every law affecting to protect commerce, and intending to impart prudence to the public, had the effect of spreading among the community a false reliance upon the Legislature, and, pro tanto, did induce them to throw aside that self. support and caution which would other wise characterise them.—(Hear, hear.) The principle on which the Bill was founded was, that the circulation of notes should be regulated by the foreign exchanges. lie had taken the greatest pains in the world to discover, by an examination of the evidence laid before that Com mittee —by a close examination of the speeches made in favour of the Bill—and also by a close examination of everything that had been written in favour of it—and he must say he had not been able to find ose reason to induce Into to believe that they either could or should attempt to re gulate the internal circulation of the country by the foreign exchanges.—(Hear, hear.) There were many reasons why bankers—not only those connected with banks of issue, but those connected with banks of deposit a r well —why bankers of every kind should watch the s tate of the foreign exchanges as narrowly as a mer chant watched the state of the exports and imports of the commodity in which he dealt, because the foreign exchanges indicated the increasing plentifulness or the searcity or the article in which the banker dealt.—(Hear, be ar-) But, while he disagreed with the Right Hon Baronet the Chanceflor of the Exchequer in believing that the internal circulation of the country could be re- Witted by the foreign exchanges, he was glad to find that at least he agreed with that Right Hon. Gentleman, a a nd with all the Hon. and Right Hon. Gentlemen who neld his views in support of the Act of 1844—he was glad to find, he said, that he could agree with them, to a great extent, on the principles which they pro fessed. Ia the first place he agreed with them in preserving the principle of convertibility next in preserv ing a single standard of value; and also in the princile that whatever currency was adopted—whether a pure p ly Metallic currency, or a mixed curreny of metal and Paper, it could not be considered as being based on a so und principle, unless in all its fluctuations and changes it conformed to that which a metallic currency would conform to. He admitted to the fullest extent that un less it meant that, it meant nothing. He admitted that a Paper currency could not be maintained by any argu ment, unless it could be shown that in all its changes of value and quantity it conformed precisely to the Changes which took place in a currency purely metallic.— (Hear, hear.) He went further, and would say that the object of every banking regulation should be to throw the pressure over a longer period —to make the Pressure of scarcity to be felt at an earlier period, in oeder to pr even t i ts b e ing felt so sever e ly a t a l ater pe ,,,ti°l- On that part of the question he entir e ly agree d ce lth the ob serva tions of the Right H on . B aronet t h e ' t _ le aticellor of th e Exchequer th a t even i ng — t h ey h a d shown to his (Si r . Wil s on' s ) sa ti s f ac ti on, an d h e b e li eve d to the satisfaction of most of those who heard him, that hid the intensity of the late pressure been delayed i a lon g e r p er i o d, by retaining the rate of uhterest at a low price, it was impossible to conc e i ve hare extent of disturbance to which the country would are been exposed ; and, therefore, while he did not a gree with the Right Hon. Gentleman that they could fog ]late th e i nterna l circulation o f th e country b y the it re ign exchanges—or that, if it w e r e p oss ibl e, seas desirable to do so, yet in all the great a nd essential parts of his argument he cordially agreed w ith him. A s f ar as h e un d erstoo d the theory of the A ct of 1844, it was this—that as the exchanges fell the Bank should contract the circulation, that with the contraction of th e c i rcu l at i on prices would fall, and that with the fall of prices an export of commodities would take place ; our imports would be suspended, and thus the adverse exchanges would be implied the power on the part of of notes the regulated. This theory or expand the circulationat Bankthe their r o p i c e o a n contract or but that they possessed such a power he utterly de c nied: --(Hear, hear.) For, if it did so, it could e only be 1 :7 substituting coin for notes; and, that being the n - case. be, for one, would be glad to know how the Bank could be benefited by an attempt to contract tftheeirkpnaepertchiar t culation by the issue of sovereig n , s ome gentlemen maintained that th e circulation w of the Bank of England was represented by the uant - ty f $ notes issu e d from the issue departme nt to the ban i kin n g depart ment ; b u t h e was glad to h ear the Right H Baronet a d m i t that, in his view, e e • on . their circulation Meant the quantity of notes in the hands of the public. The CHANCELLOR of the EXCHEQUER said it !night prevent misconception if he explained that what ne had said was, that under the old law, p rev i ous to .1 1 844 , the circ u lation meant the amount of n o t es i n the a nds of th e p u bli c , together with bank post bill s; but since that time it meant the notes in the hands of th e and no other (as wo understood). 3.1 I(lnaitin r t .lY g lLSON understood the Right Hon. Baronet a s 450(4 of that the word " circulation" meant the n o t es vfle th e the public, but whether he had the pri gs of agreeing with him on that question or not, he moat maintain that the word " circulation" could only Mean the notes in the hands of the public; and if they te talk of the action of circulation on prices, it eioeuld appear conclusively retend that it that could the not mean nothing 1. Woues lying quiescent in the Bank had any effect upon prices ? He Quaid it was impossible, in his opinion, that the Bank ~,ua u ld either contract or expand at their pleasure the A te a ntity of notes in the hands of the public, as long as we enie notes were convertible—a principle for which they Tamworth solely indebted to the Right lion. Member for evorth's Bill of 1819. He believed that the reason trig Mr. Jones Loyd's pamphlet went entirely upon I n; concepti on o f an i nconvertible as distinguished from a convertible currency. With an i nconvert ibl e cur . Iteerefuiteunirety ty hey could, of cour se , i ncrease or decrease t h o cur of notes at pleasu re ; b ut w i th a convert ib le the op e rati on o f convertibility was itself the e of the quantity which the public wou ho. • It W ould be genera ll y a d m i tted that the public never el ti ld a larg er quant i ty of notes in its possession than convenient for the general purposes of trade ; and, l!tnerefore, if the Bank attempted to contract its circula• °u, it could only do so by withdrawing tion a portion of the notes absolutely from eircula rary for the the country. Performance of the internal transactionnsece Suppose they were to sell 500,0001. of Ltehequer-bills or any other securities. They would send these to a broker ; he would go to the S tock o - u l i .lchat i f , ge and sell u ve po h n ini th a e them say to five individuals, who et cheque for 100,0001_ upon his baulterahepoe::i dbtaiiiiieerence in taken to the Bent of England; but that would in the operation. Suppose the chequeswho wdererewo Bank of England ; if the parties the held any deposits with the Bank the simple operation would be that their account would be debited with the cheques. The deposits of the Bank would thus become less hy that amount, and the Bank reserve would become more by that amount ; but the circulation would nor be affected. There would not be a single bank note takeit nut of circulation by the operation. Then, suppose the • cheques were taken to a banker in Lombard•street, and the broker's clerk were to ask for 500,0001. of notes in e xchange for the cheques. It was well known that the :flbankers in Lornbard•-street were not in the habit of holding a larger amount of notes than was necessary for their reserve for carrying on the business of the day ; an d if they f o und that they had not a sufficient reserve ▪ enabl e them to pay the 500,000/. they would send the c aeqtlea to the Bank of England, and bring the 500,0001 lin tel' back ; so that the transaction would be a simple transfer of 500,000/. from the securities of tho Bank to the r eserve in the Bank,—a mere conversion of 500,000/. purities into 500,000/. reserve. It would not affect I t h he e c irculation one iota, so far as he coul d discover. nk „sarnie kind of process would take place i f t he - "L o f England were determined to increase its cir , eulation. The Bank would, in that case, purchase t curit isa• They would send their broker to the Stock -cuing* to purchase 500,000/. worth of securities , w hich he would pay for is notes. It was quite true that for - l e hours th ere wou ld be 500,000/. more notes in circu - Uniovrn than th ere were i n the morning; but it was just as true that th e fi ve b ro k ers who sold the 500,0001. worth et s securities would sen d th e 500,0001. either to their own banker's or to the Bank of Englandin the a fternoon so that, instead of the circulation increasing, all. that would be accomplished would be that the Bank Il added to its securities 500,0001., and diminished its reservenotes 500,000 L—(lear.) He had yet to learn how _ could be depreciated. Until he saw some reason y la tter iz a man holding a 51. Bank of England note, and tiezed. exchanged it not equal to five sovereigns , could not have it nagoetd h f e o h r ev fi e ve tha s t ov a ere o l o g o n v s e —n h ntil he saw that he could bi n gladrttle to n h o e t es supported d p ybe depreciated. He was this view by Mr. Horner, Mr. Huskisson, Lord Liver- Pool, Mr. Ricardo, and all the eminent writers prior to 1 . 844 ,• a bank n o t e b e i ng convertible could not be depre ciated, and bank- notes could not therefore be issued in excess. It was quite true that the Right Hon . . Baronet Member for Tamworth, in introducing ths Bill, did r ILIOtte several instances where A depreciation took place notwithstanding the notes wore convertible. The first case quoted by the ltigl , t lion. Gentleman was that of the Bank of En.),lan I in 1669, when bank-notes were depreciated 17 per cant. lie believed, however, that that was easily exp . a . ned. Sir li. PEEL-1 merely quoted the reps rt of the Bullion Committee of 1810, where I found the state ment made. Mr. WILSON sail that in the copy of the Right Ho nourable Baronet's speech which he had seen there were no marks of quotation; but whether the Right Honour able Baronet did so or not it was quite necessary that he (Mr. Wilson) should refer to the circumstance in order to explain how the anomaly had arisen. In 1669 it was quite true that Bank of England notes were de preciated to a large extent; but it was also true that at that very moment thers was a suspension of cash pay ments and the notes were no longer convertible. It was also stated that in 1804 the notes of the Bank of Ireland required to be worth 118/. 10s. to command 1001. notes of the Bank of England, showing a deprecia tion of 184 per cent.; but it was equally true that at that very moment there was a suspension of cash pay ninnenintsorbnotonh n in ve E rt n i g ni l e and tb a n t i l i d i l n re l la 6 t 69 l,. andit hade been stated that the unfavourable exchanges between Scot land and England had been rectified by a depreciation of the notes then in circulation; but the notes in Scot land referred to were not notes payable on demand only, but notes payable on demand, or at the option of the issuer, six months after date, by allowing interest at the current rate. These notes, therefore, bore some thing of the character o Exchequer-bills now. The state of the American Bank had also been referred to, to prove that convertibility was not a sufficient check against depreciation. Ile must say that a more unfortunate case could not have been quoted. The condition of the American Bank was anaiogous to nothing in the world. It embodied everything that was absurd in banking arrangements, and was as un satisfactory as could well be; but when the banking system of New York had been placed on an intelligible and sound footing there had been no more depreciation. There had not been a single example of depreciation in New York since 1840, when the Act was passed secur ing the convertibility of the notes at the pleasure of the holder. Tao case of Russia and the other cases which had been referred to were explained in a similar manner. In his mind there was nothing more clear than that the law of 1819 afforded the most perfect security against depreciation. Now he must show that it was utterly impossible the Bank of England, in case of an advance of the exchanges, could contract the circulation. Sup pose there were an advance of the exchanges trot), an increased price of food, from a deficient harvest, from an importation of grain, and au export of bu lion—what took place at home? The circulating medium was measured by the price of the commodity we had to dispose of, and the number of transactions we had to perform. If the prices, therefore, were rising at home, how was it possible for the Bank to contract its cir culation at the very moment when increased prices and increased transactions required a larger propor tion of the circulating medium than when prices were low ? Another reason why the Bank could not contract its circulation was, that in every case where inconve nience was felt for want of a circulating medium, the vacuum would be supplied by checks drawn upon the deposit department—so that a bile there was a bunk of issue and a bank of deposit, it was quite impossible to contract the circulation. In the autumn of last year, on the 29th of August, the amount of bullion in the Bank of England was 15,366,0001. ; the circulation in notes, bank post-bills, and bills of exchange, was 21,311,0001. ; the securities in the Bank of England amounted to 24,804,0001., of which only 12,500,000/. were bills of exchange or private securities. At this period, from causes which had been described by the Right Hon. Baronet the Chancellor of the Exchequer, owing to the high advance of exchanges against this country, week after week and month after month, the bullion in the Bank gradually declined, and on the 3d of April 1847, the bullion in the Bank of England had sunk from 15,366,0001. to 10,246,0001., and the circulation of notes had dimi nished from 21,311,000/ to 20,815,000/. But the se curities had risen from 24,000,0004 to 30,000,0001., of which (and lie called attention to this fact) the private securities amounted to 18,627,0001. Keeping the eye upon these two periods, and recollecting that the bullion had sunk 5,119,0001., he found that, notwithstanding the operation of the Bank Bill of 1844, the circulation had sunk only 4,960,0001., but the securities had increased 5,260,000/.; and the increase of private securities had been no less than 6,000,000/. sterling; for, during the whole period, notwithstanding the extraordinary drain of bullion, the circulation, instead of following the bul lion, diminished only 16,960/. But he found that, during that period, the number of bills under discount was increased by 6,000,000/. sterling. These bills re presented in the first instance an issue of Bank-notes ; there being more bills carried to the Bank from August to March represented an issue of Bank notes; but it was clear that, although there was immediately an issue of notes, those notes retursied to the Bank ; for the circu lation, instead of following the drain of bullion, under the operation of the Bill, was kept up by the increase of discounts upon bills or private securities. He believed that on these facts we saw the fundamental error which, in his opinion, was contain ed in the Bill of 1844. He believed the fundamental error in the Bill was this, that those by whom this Bill was framed had confounded cir culation with capital and currency with bullion. For the currency was the amount of the circulation of the Bank of England, and not the amount of the capital at the command of the public by means of discounts. Therefore he believed that the restriction which that law had imposed upon the circulation of the country was unnecessary in so far es the convertibility of notes was a sufficient guarantee of excess or deficiency, and tended to withdraw public attention from what he believed to be a more impoi tent subject of consideration—the amount of reserve or capital, and not the circulation of notes. If attention had been directed to the deposits in the Bank, the ordinary considerations of prudence in the conduct of private affairs would have mitigated, if not pre vented, the late crisis. Fortunately, we had two means of knowing the fluctuations of the deposits in the Bank of England. The Bank Committee, in 1840, had col lected some very important and useful documents; they had obtained from the B.,uk of England and the Bank of Ireland returns of the wr slily state of the deposits for a number of years. The returns of the Bank of England were divided under different heads :—pub lic deposits, and private or other deposits; of which, first, there were those of the London bankers ; secondly, those of the East India Company ; thirdly, those of the Banks of Ireland and Scotland ; fourthly, other de posits, including the private deposits of merchants ; and lastly, those of the different branch banks in the country. For obvious reasons he excluded from his consideration the Government deposits, as they were regulated by other circumstances than those connected with the state of commerce or the interests of trade. He rejected also the deposits of the East India Com pany, as they were not governed by the same principles as those which applied to trade. He excluded likewise the securities deposited in the Bank of England belong ing to the Banks of Ireland and Scotland. He had constructed a table from these returns. It would be in the recollection of the House that the year 1838 was a year of fair, good, ordinary prosperity ; that in the latter part of the year we had recovered the panic of 1837, and the bullion in the Bank of England had increased from 4,000,000/. to 10,000,0001 ; and there gas an impulse given to our trade, so that the year 1838 was a year of as fair average prosperity as any year that could be mentioned. In the early part of 1839, in cense 4:pence of a bail harvest, there was an importation of grain and efflux of bullion to such an extent, that the country was in a state of extreme depression, and the Bank of England was obliged to have recourse to the Bank of France for assistance. Therefore he had col lected materials for a comparison of the state of the de posits during the last quarter of 1838, representing a period of renewed average prosperity, and the last quarter of 1839, representing a period of pressure. fie did not think it fair to take the weekly averages, but the average of the whole quarter, and he found this result:— the eves age weekly deposits in the Batik of' England of the London bankers, in the quarter from October 1 to December 31, in the year 1838, were 812,000/.; in the corresponding quarter of 1839 they were 615 0001. The private or other deposits in the Bank of England, in the last quarter of 1838, were 3,020,000/.; in the last quarter of 1839 they were 2,122,000/. The deposits of the branch banks in the last quarter of 1838 were 592,0004; in 1839, 451,000/. In the Bank of Ireland the private deposits, in the last quarter of 1838, were 2,234,0001; in 1839, 1,834,0001.; and the agency deposits in 1838 were 486,0001, and its 1839, 391,0001. The totals of the different items were, for the last quarter of 1838, a year of ordinary prosperity, 7,144,0004 ; and in the last quarter of 1839, only 5,413,0004, showing a reduction of 25 per cent. on the deposits available for the giving public accommoda tion between these two periods. Now, ho asked what was the na t ure o f t h e b an k er ' s tra d e ? His profits were derived f rom disceunting bills at a high rate of i n t erest . The only funds from which a banker could discount bills are of three classes: first, his own capital; secondly, diterpoissibtsa.nklwt awsaas in bank h of o is w s e u r e, of hi b s a c n i k rc er u s la t t o to g n iv ; e thirdli accom modation upon their deposits ; but if in these banks there was a diminution at this period of to less than 1,700,0004 in the amount of deposits, which were re duced in one year from 7,000,000/. to 5,000,000!., what must have been the proportionate reduction of the deposits e m p o o u s a i f t s o o f f th e depositsb banks o k i s n o a f l s l period ? Wh at must havecth e banks ol a been od. of London at this that they ext en d e d to 30,0 0 0 t ,000/ stering ? Why, in the same proportion, would whent e i r t e w d u a c s t r i e o c n o t t h e d e the total. i amount of deposits in the Scoth banks be greater or less according to their number, as compar e d w i t h the banks ofEngland. The number of banks in the united kingdom extended to 1,600, and, if the same reducti on s h ould have been made in their ' deposits, we might well conceive the cause of the ex treme pressure felt at that period, from the reduction of the means of the banks to accommodate their customers, their funds being exhausted. But, if such were the effect produced only by a bad harvest in 1839, what consequences might it not be conc e i ve d t h at such a re duction would produce when not only had there been a severe drain upon the country for grain, but a large rail way expenditure had been added ? What might be ex pected to be found if the Committee should obtain an account of the deposits throughout the country, and the decline in the amount during the present year ? He believed that, reckoning the number of bank' rs at 1,600, we could not reckon the aggregate amount of deposits at less than 200,000,000/. Reckoning the number of t of deposits at banks in Scotland at 400, and the o r amount t n each bank. He 30,000,000/., there would be 7 t th ( e United - Kinedoin, for higher than in other parts o bunks were authorised considered the total amoun t. 5 0 4 deposits in Scotland an obvious reason. The Scotch by law to receive trust than in other parts of the monies, and, therefor e, th e amount of deposits was larger amount of depo- United Kingdom ; but he believed that , tho u g h the num ber of banks was greater, the average sits at each bank in the United Kingdom was greater then the average amount of each of the scotch hacks., Now, he might Ise asked, what purpose he intende t to carry out by asking the banks to keep an eye en he state of the foreign exchanges. The purpose was 4b vious, that the banks might know, by keeping th it eyes on the state of the foreign exchangeF, vvh.t e likely to be the drain on their deposits, and what e • likely to be the demand on their capital. If tin- liink directors directed their attention to these points; if ,hey looked to the rate of foreign exchanges; if they lo their money like any other commodity, and if they raised the rate of interest at an early period a iLi.out looking at all to their circulation, but merely to the loans and discounts which they were r«luired to rusks, he believed that they might, by thus raisince the nee of interest at an early period of the drain, induce n the to beneficial results, and altogether prevent the recur' secs of that pressure which the country had already ft-!t disastrous.—(Hear, hear.) He believed that if Ills link of England, instead of', as in the mouth of August .t, leaving the rate of interest at three per cult , it in the mouth of January to four per cent., and eely in the month of Apiil still further increasing it, eh , n week after week their capital had been ditnieh,eine until it was reduced by the amount of 6.000,0001 —if, he repeated, the directors of the Bank had raised th, it rate of interest at an earlier period, he believed that the commercial interests of the country might have get through the crisis with much less inconvenience —a vete of interest perhaps high, but not nearly so high as it was afterwards necessary to fix, in order to restore the exchanges.—(Hear, hear.} He was not sulliciently san guine to believe that anything that Committee coul.i de would entirely prevent the recurrence of such a crisis ; for as long as they had the variations of seasons, long as they had hope and fear to contend with in the human heart, and as long as they had ,peculativ. , i x eitements and prosperity at one time, so long would they have periods of depression and of distress at other times. He was not sanguine enough to suppose that anything that House could do would entirely prevent a recurs once of these periods ; but he was sanguine that they would give the public the fullest information that could be gisen ; thus, much more than by Acts of Parliament, they would be taught to regulate their commercial transactions ; they would have placed within their reach the information which would teach them to mitigate the evils of these periods of pre!, ure. He did not say that the removal of the evils would to rapid or immediate ; but he trusted the information which would bo obtained by the Committee would uid in restoring confidence, and would gradually lead to pros perity unequalled at any former time. lie could not forget the extraordinary expenditure which had been . . going on within the last three years, and if the Act which they were obliged that session to entertain—it the Bill which the Right Hon. Baronet introduced the other night, was to be considered one of the means of checking the present large consumption of capital, that Act, how• ever necessary it might appear to be, would, i❑ the first place, have a bad effect on the commerce of the country. It would have the effect of throwing many persons out of employment who had been engaged during the last few months, and :in receipt of large wages, arising tr.,m a large expenditure, during the construction of large works, but immediately that these works ceased, and that the expenditure was withdrawn, then was the reaction felt in all the branches of commerce, and they might look forward to a period of considerable depression. Ile had the honour to propose an amendment to the notice Web was proposed by the Right lion. Baronet, namely, that all the words after the word "inquire" be ()mated for the purpose of inserting the following words how far the recent commercial distress has been afK.cteil by the laws for regulating the issue of notes payable un demand." Mr. BROWN seconded the amendment. The question having been put, Mr. T. BARING acknowledged that many errors ha I been committed by all parties, but he would not admit that the pressure was entirely attributable to over-tra4- ing or want of capital. Blunders had been imputed tti the Bank of England, but, like all other large estuldis!l ments, he would ask where was there a mercantile house in which a variety of errors might not be pointed out ? The Right Hon. Gentleman (the Chancellor of the Ex chequer) had stated that the Bank of England ha,l been guilty of blunders ; but the Right lion. Gentleman should not have forgotten that he had himself over traded with the interest of the country by leaving a large amount of Exchequer-bills in the market withyut demand for them, and at a disgraceful rate of &noun . The Right Hon. Baronet had committed so many bun ders that if he had been a small trader his condue would have been sufficient to warrant his name being t ut into the Gazette.—(Laughter.) He had negleettil to make any provision for the large amount of Exchvg•ter bills due last March, although ho should have known the demand for bullion that must follow from the atute in which the country was then in. There wore , /rious intimations made to the Right Hon. Baronet as to the state in which the monetary affairs of the country were. but he had totally neglected to make any provi-ion against its consequences. The want of foresight di,l not exist alone amongst the traders of the country or the Bank of England, but in the Right Hon. G, ntl, man himself. The pressure was attributed to over. tra.iing in corn. There was undoubtedly over-trading and gri.a speculation in corn, but that was not the sole cause -he Majesty's Government were not free from blame. Al, inquiry was not the remedy for:the blunders commit:, d they should have dozens of different opinions. 'Fri, result would be, the evidence would be published wic how a report, and the Right Hon. Baronet would take the• recess to consider what was best for him to do (Hear, hear)—thus leaving the country in the saint .tat, for the next year and a half that it is in at present. — (Hear, hear.) Nothing could be more unsatisfactory than such a proposition as that made by the Govern ment—a Committee of Inquiry ! Why, the country had been sitting as: a committee ; their pressures and their sufferings had been a committee, and from them the staie of the country, and the operation of the Act of 1844, which the Right Hon. Gentleman himself had supported, hud been learned. The Right Hon. Gentle man might know from experience that the Bank of England would not fix too low a rate of interest The effect of fixing eight per cent. as the mini:nun rate of interest was, to alarm a great portion ot ihe in dustrial community, and if money could not be pr,eure at a lower rate, it could not be expected that the manu facturers of the country would be able to i'svcut, foreign orders.—(Hear, hear.) They could never curt) en a profitable export trade with a rate of iuturest st high as eight per cent., and if such a rate ot inserts was to rule, they must expect to see a great diminittiot. of that export trade on which they must rely, no , merely to pay for gold, but also for the increase in th, foreign debt which had arisen from the facilities given by their recent legislation to foreign imports.—(Hear, hear.) They had afforded the foreigner many a.ivan tages of late, and if by any measure they prevent, 41 thy manufacturers of this country from obtaining money at a cheaper rate of interest than the foreigner, he be lieved hi c the h they would manufacturing sacrifice age w would ll, assurancenot go into Committee her Commil a te l e jes w t p s G hout some obtaiuint as to what they intended to do in case a siinilai crisis occurred again, or to what extent the) would suffer it to proceed before they would of ford relief.—(Hear, hear.) He should desire ti accompany the resolution with this appenda.;e— -" That that portion of the Act of 1844 which rt stricted the issue of note■ to one-fourth on silver, and 14,000,000 L on securities, should be suspended, and :et to the discretion of the Bank and Government united till the Committee made their report."—(Hear, There could be no hope of a report early enough ob which to found an immediate measure, and the opel tions of the commercial world would remain Uncertain unless some such measure as he had suggested .s adopted, or some declaration were made by the Govern ment as to the course they would pursue in ca.e similar crisis arose again. The Hon. Gentleman v% ho spoke last said that a double standard was not corn patible with security. He (Mr. Baring) denied that ; for there existed such a double standard in the Unite 4 States and in Holland, both commercial countries. — (Hear, hear.) They might have a double standard i; this country, and though it might be attended with some inconvenience and expense, these evils would h. light in comparison with the differences which had taken place this year between the value of capital I,n , money, which were enough to ruin the commercial world. be sai to o le did be s a n t i o s t fa e t t h o in the ry k toi t s m p e r a o s m u r o e of 18 t e rs ;4 44 ,, a c.o ~ 1 101 .1 satisfactory to the country, and under these circuin stances it could not be satisfactory to the House (Hear.) He trusted, therefore, that the House would not think it shelved from consideration by the appoint ment of that Committee.—(Cheers.) Mr. ROBINSON said that the motion of the Bight Hon. Gentleman the Chancellor of the Exchequer %%as a tacit admission that the law respecting the curr,ne . ) required revision, and that the system of free trade proved a complete failure. He agreed with his lion. Friend who ,just addressed the House that un inquiry of this kind, without restriction or limitation, could lead to no practical result. He could see no end to the proposeo inquiry, and would prefer two Committees—one to in quire into the operation of the Act of 1844, and the other to inquire into the effect of their late Ire, trail, policy. To that policy he was disposed to ascribe th. evils which now afflicted the country, and the only re source for surmounting them was a recurrence to the principle of protection. He was, on principle, in favour of a property and income-tax, but he would oppose it unless the Government pledged themselves to reuse( their steps, and to go back to the system of protection. de did not think the Government was to blame for in terfering as they did with the Act of 1844, but he thought they were wrong in not interfering sooner.— (Hear, hear.) He hoped that if a Committee was ap. pointed it would be composed of those Members who had the greatest knowledge of the subject; but, ut the same time, he could not see the utility of inquiry. Nu blame was, he thought, attributable to the Bank f..r th, course pursued ; it was the system that was to Wattle. The currency was totally inadequate to the demands of the country, and until that evil was remedied there !nub• be periodical crises. A great error was committed 1819. At that period it would have been much wiser t have restored the old standard—viz., gold and silver, in stead of making gold the exclusive standard, and will precautions against their running into excess, small notes might have been allowed to circulate with ben( fi: to the country. As regarded free trade, be min.t that there was no disposition on the part of for,ign Governments to follow our example in that respect. his amateur trip on the continent, the lion. Member for the West Riding of Yorkshire (Mr. Cobder ), every one of the large commercial towns which he visited, had been well received by a class of merchant, who were interested in obtaining access to our mar Lets, but who had no sort of influence with their ewn Go vernments, as well as by philanthropists who lived in a world of their own creation.—(Hear, hear.) The Hon. Member could not refer to a single change in the tarn IF of any country as the result of his mission. In conch' sion, he would observe, that he did not regard with ap- WEDNESDAY EVENING, DECEM BER 1, 1847. prehension the permanent state of the country, if wise else, ures should be adopted. Sir W. MOLESSWORTH said, his lion. Friend the Member for Poole (Mr. Robinson) attributed the corn n ertial embarrassments of the country partly to free t• tidel and partly to a restricted currency. He (Sir W. olesworth) thought with the Chancellor of the Ex chequer, that those embarrassments were attributable cot to a deficiency of the currency, but to a deficiency of capital. That deficiency arose partly from causes ever which we had no control, and partly from our own folly and imprud ence . The national loss from the potato disease bad been estimated that night at upwards of thirty-three millions, and as the whole of that sum came out of the national income, it was evident that the pres sure produced must have been far more intense than it it cern(' out of capital. Again, the expenditure in railways had greatly diminished the floating capital of the country, and the labour expended upon them had not been em ployed in providing floating, but in producing fixed, :gip tal. the country by th ese causes was p l ace d in the position of a man who, in an attempt to improve his estate, had spent, not. only all his spare cash, but all that he required to p rov id e h i mself and hi s fam il y with the fit necessaries of lif e , and who con quently was obliged to borrow money at a hi.;h rate of interest in order to supply the deficiency. We had in fact expended our floating capital in railways, and what we had now to do was to redeem our position, firet by diminishing tier expenditure, and secondly by by tempting floating capital from other countries, by selling our fixed capital and articles of production at diminished prices. He knew that there were sonic people who attributed what had occurred to the opera tien of free trade and the repeal of the corn-law, but it was evident that those political circumstances had nothing to do with the antecedent event of the potato failure and the railway speculation. Neither, if the recent embar rassment was attributable to these combined causes, c , uld they in any way call in question the operation of the Bank Charter Act. In his opinion the embar rassment was as little attributable to that Act as to free trade, or to the potato failure, or deficiency of capital. It arose, as he said before, partly from natural causes, partly from overtrading. Now, what was the cause of this overtradiug ? It was an event, he regret ted to say, of periodical recurrence. Capital in this great commercial country in crease d more rapi dly tha n it wa s possible to invest it. The rate of interest consequently fell, whilst the prices of provisions rose. People, in order to obtain employment for their money, embarked eagerly, and even rashly, in any new schemes that were projected. A few of them speculated successfully; but the majority failed, and great misery succeeded. After a time the storm passed by, prosperity returned, fresh capital was rapidly accumulated, the means of safely investing it again became deficient, the past was forgot. ten, it bequeathed no lesson to posterity. The same cycle of events was repeated, and in the words of the poet, another Argo carried another band of heroes in search after the golden fleece— " Alter erit turn Tiphys, et alters qua) vehat Argo Delectos heroas; erunt etiam altera belle; Atque iterum ad Trojam magnus mittetur Achilles." In the late period of speculation people undertook to invest more than they could. A panic ensued. Did the Bank of England by its conduct tend to aggravate that panic? He must say that he thought the Bank would have done wiser had they louked a little further in ad vance. Then came the question as to the conduet of the Government. It was said the course pursued by Ministers was unnecessary, afforded a bad precedent, and was cal culated to unsettle the w hole cu rrency question. There might be somethin g i n th e i r arguments, but the ques tion appeared to him to be; on which side was the balance of evil—to remain quiescent, or to take the step the Government had taken? It was certainly very much in their favour that the great merchants of the City were of opinion that they had pursued the wisest and most judicious course, although there was some dif Terence of opinion as to whether or not they had chosen a proper time. If the Bank had teener the first gone on increasing the rate of interest according to the increase of the money pressure, and the •consequent demand for money, he doubted whether the panic would ever have taken place. It was a question, however, whether that course would have been the best for the pecuniary interest of the proprietors, to whom it was always an advantage to make the large sums of money arising from the public taxes which remained in their hands lent for a short period profitable by lending them out at interest. In his opinion the embarrassments which the country had suffered had their origin in causes over which Parliament had no control. As it was the evil must be borne, and we must trust to time, care, and if he was fh the lion. economy, to retrieve our position. — (Bear.) Mr. s e h e o n uld makng have i athspoeuegelhit reading the articles which had appeared from ti me to Baronet e had AY L not E Y been time during the last few months in a leading journal of t his country, in which precisely the same argument, and .dtnost in the same language as had been advanced by the lion. Baronet, had been put forth. Until he heard the lion. Baronet he thought no man but the writer of the leading articles to which he referred was bold enough to argue that the Act of 1844 had not i n an y eay contributed to our commercial difficulties. Ile 'should have been gladi f the Hon. Baronet or any other lion. Member had attempted to disprove the solution which had been given by one of the first merchants in London, the Hon. Member for Northampton. The speech of that Hon. Gentleman, he believed, contained the true and conclusive solution of the difficulty, and eas consequently unanswerable. The Honourable Baronet, in going over the same ground which had teen taken by the Chancellor of tho Exchequer, had repeated the dogma that it was not a deficiency ,f notes that bad occasioned the pressure. No me that he was aware had stated that it was. What he contended was, that the limit taken in April, 1844, when the Bank reserves were low, prevented that assistance to commerce being given which was necessary, and consequently mercantile discredit had ensued. His impression being that the commercial difficulty had been occasioned by a real deficiency of notes—though, per haps, not a nominal one —he believed it might have een relieved had the interference of the Government •eme at an earlier period.—(llear, hear.) The lion. Baronet had repeated the arguments of the Chancellor if the Exchequer, that one main cause of our difficulty had been a deficiency of capital ; but how was that as eertion proved? Did the sudden payment of 33,000,0001. for foreign corn, or the terms upon which the Chancellor of the Exchequer contracted his loan, viz., 31. 17s. 6d., show any actual deficiency of capital ? In the spring, too, they had been told that there was a remarkable scarcity of all imported commodities, except tobacco Led silk ; now there was a full supply of all except cotton. Could this change have been brought about without capital ? But the real object of putting forth he statement of deficiency of capital was to endeavour to account for the high rate of' discount. For three hundred years we had been accumulating capital and reducing the rate of interest from ten to four per cent. Could any one believe that any scarcity of capital could have been sufficient to increase the rate of interest from four to ten or twelve per cent. in the course .if three or four mont h s ? It was no scarcity of capital, but of the circulating medium, that had caused this. lie was certainly surprised at one argument ad vanced by the lion. Baronet. Throughout the discussion upon the repeal of the corn-laws he understood it had been always argued by the advocates of that change, that the true principle of trade was to buy in the cheapest and sell in the dearest market ; but the Hon. Baronet now argued that we ought to buy gold dear and sell our best securities cheap. lie should like to know whence the profit upon such a bargain ?—(Hear.) lie concurred with the lion. Baronet so far, that the Government had no right to blame the indiscretion of the Bank; for if the Act of 1844 was, as the Right Hon. Baronet had alleged, to deprive the Bank of all discretion, what choice had they in the matter? Railway speculation had been charged as one of the causes of the difficulty. Nothing had contributed more to encourage railway speculation than the course taken by the House in throwing over the reports of the Railway Board, and leaving it to the Committees to say what Bills should pass. He remembered, too, that the Right Honourable Baronet had contributed to encourage railway speculation when, ei assisting at the commencement of the works of the Trent Valley line, he stated that he gave his sup port to that line, because it was more direct than the existing line ; and that if a still more direct tine between London and Manchester were proposed, he should look upon it favourably. What greater en eeuragement could be given to railway seeculation ? Tee Chancellor of the Exchequer said that the panic had been created principally by the importation of corn and railways; but he remembered the President of the Board of Trade observing last session, in reply to the Noble Lord the Member for Lynn, that we were not ap proaching a state of bankruptcy, and that the energies of the country were as great as ever. Indeed, so far as he knew of the opinions:of the Government, they all felt difficulty on the subject.—(Hear, hear.) A committee, under ordinary circumstances, was a very satisfactory mode of investigation. But a Committee might mean many things. It might mean, for instance, giving the go-by to an adverse resolution. If a Committee were appointed, he hoped it would be with a view to an un flinching inquiry, and not to coaeider any already con cocted or preconcerted plan.—([dear.) Mention had been made of the suspension of the limit of 1944; and that was what the commercial interests of this country had a right to demand. Sir Robert Peel had said that the Bank could always maintain its credit, by a tre mendous sacrifice of the mercantile interest, and that that was what he wished to put an end to, and compel the Bank to conform to certain principles advantageous to the public. But how far had the expectations of the Bight Hon. Baronet been fulfilled ? Instead of snch a famine as that of 1837 or 1839, we had in 1847 a famine doubly repeated and more severe than either ; and, in stead of its being over, he hoard from the Hon. Member for Finsbury that the rate of interest was as high as 25 per cent. T he Right lion. Gentleman, when he talked of the absorption of capital in railways, seemed to be labouring under a contusion of ideas. The money in vested in railways, though it, no doubt, went out of the pockets of one set of men, as undoubtedly went into the pockets of other sets of men, and could not, therefore, he spoken of as withdrawn from circulation, or as occa sioning the scarcity of money which was matter of com plaint. He did not at all conceive that his Right Hon. Friend had stated the true cause of the pressure. He considered that the cause was much more accurately ex hibited in the memorial presented to the Government by the bankers of London some time since, and resolved it self into the restriction imposed upon the Bank. He felt that it was the bounden duty of the House not to go into Committee without giving some assurance to the commercial world that such a paralysis of credit as that which had lately befallen us should not again occur. It was perfectly clear that while 8 per cent. was charged for interest, no foreign trade could be carried on. On the motion of Mr. BLEWITT, the debate was then adjourned. On the motion of Lord J. RUSSELL it was ordered that the House itself, on its rising, should adjourn until Thursday. IRISH DISTRES si. Major BLACKALL moved for a return of the amount already expended out of the 8,000,0001. raised by loan during this year for the relief of Irish distress, and the manner in which it hsd been expended. The CHANCELLOR of the EXCHEQUER said, that as he had directed a full account to be prepared of the whole of the expenditure, with the full intention of laying it on the table of the House, and as he had reason to believe it would be ready on Thursday next, he hoped the Hon. Member would think it convenient to withdraw his present motion. Major BLACKALL acquiesced in the suggestion, and the motion was by leave withdrawn. COMMITTEE ON PRINTING, &c. On the motion of Mr. PARKER, the following Mem bers were appointed a Select Committee to assist Mr. nting (pls e B ,‘ i k )nif su t ,n e t e ,riffe r ig d s: oca bi lm n iii. y ,i di ea order a h:.Apa_ l ourr i nrrrA.:s m inuivA.g a a. ofitni Parker, gaen h r r s io i oifs:n(tieuv:Hr:' motions olusar, thf; a ir idmcAb t re,fat;eorrrttittrdueo: John t ;iyael h ; :a e rpri Alytaidi p rii: p r ,dpin i ina, n isbgipm t ene i el printing ith, Loch. AIEDICAL EDUCATION. Mr. WAKLEY, in moving that a Select Committee be appointed to inquire into the registration of legally qualified practitioners in medicine and surgery, and into the laws and charters relating to the practice of medicine and surgery in Great Britain and Ireland ; and to report the evidence, with their opinion there upon, to the House, observed that this was a mere re newal of the Committee of last session. lie regretted to say that the late general election had made sad havoc amongst the members of the last Committee, for of tiftee❑ who had sat last year only seven had been re turned to the present Parliament. He had also lost the invaluable aid of the chairman of the late Committee (Mr. Macaulay), but in the hope that that Right Hon. gentleman would shortly have a seat in the House, ho (Mr. Walley) should, in the event of the House agree ing to his present motion, postpone the nomination of the Committee for some days.—(hear, hear.) The motion was then put and agreed to. RAILROAD BILLS. On the motion of the CHANCELLOR of the EX CHEQUER, the following Members were appointed a Select Committee on Railroad Bills: The Chancellor of the Exchequer, Sir J. Graham, Mr. Hudson, Mr. Hume, Marquis of Granby, Sir G. Clerk, Mr. Strutt, Mr. Moore, Mr. Glyn, Mr. Ellice (Coventry), Mr. Labouchere, Viscount Barrington, Mr. W. Browne, and Mr. Braraston. The House then (Quarter.past Twelve) adjourned to Thursday. FROM THE LONDON GAZETTE OF TUESDAY. DOWNING-STREET, Nov. 27, 1547. The Queen has been pleased to appoint James Brooke, Esq., to be Governor and Commander-in-Chief in and over the island of Labuan and its dependencies. Her Majesty has also been pleased to appoint Samuel George Bonham, Esq., to be Governor and Comman der-in-Chief in and over the island of Hong Kong and its dependencies. Her Majesty has further been pleased to appoint Geo. Rennie, Esq., to be Governor and Commander-in-Chief in and over her Majesty's settlements in the Falkland Islands and their dependencies. CAMBRIDGE HOUSE, Nov. 27. The Duke of Cambridge has been pleased to appoint Lieut.-Colonel Gustavus Charles 1)u Plat, li.H., of the Royal Engineers, to be one of his Royal Highnesses Equerries. WHITEHALL, Nov. 19. The Lord Chancellor has appointed James Leighton, of the town of Montrose, North Britain, Gent., to he a Ila3ter Extraordi►iary In the High Court of Chancery for that part of the United liingduna of Great Britain and Ireland called Scotland. Commissions by the Lord-Lieutenant of York. George Lane Fox, Esq., to be Deputy-Lieutenant Nov. 20. Henry Stephen Thompson, Esq., to be Deputy-Lieu , tenant, Nov. 20. BANKRUPTCY SUPERSEDED, George William Jones, shoe manufacturer, Custlenau Surrey. BA NKR UP TS. Owen Evans, surgeon, Grove-lane, Camberwell, to surrender Dec. 11, at halr past twelve, and Jan. 14, at eleven, at the Court of Bankruptcy. Canaan, official assignee, Birchin-lane, Cornhill ; Borradaile and Co., King's Arm-yard, Coleman-street. William Gribble, builder, Boston•street, Dorset square, Middlesex, Dec. 7, at half-past one, and Jan. 11, at twelve, at the Court, Basinghall street. Pennell, official assignee; Ivimey, Chancery-lane. Menahan Levy Bensusan, Samuel Levy Bensusan, Jacob Levy Bensusan, and Joshua Levy Bensusan, merchants, Prescot‘ street, Goodman's-fields, Dec. 14, at one, and Jan. 11, at twelve, at the Court, Basinghall street. Pennell, official assignee; Rixon and Sons, King William street. Robert Frederick Gower, jun., merchant, New Broad street, City, and Valparaiso, Dec. 10, at two, and Jan. 11, at eleven, at the Court, Basinghall-street. Belcher, official assignee; Crowder and Maynard, Coleman-street. Samuel Street, draper, Bedford, Dec. 6 and Jan. 17, at twelve, at the Court, Basinghall-street. Graham, official assignee, Coleman-street ; Sole and Turner, Aldermanbury. Neil Mackenzie, fringe manufacturer, Newgate-strest, Dec. 9, at half-past eleven, and Jan. 17, at eleven, at the Court, Basinghall-street. Graham, official assignee, Coleman -street; Bull, Ely-place. William Draper, coachmaker, Basingstoke, Dec. 9 and Jan. 20, at half-past twelve, at the Court, Basinghall street. Graham, official assignee, Coleman-street; John son and Co., Temple; Lamb and Brooks, Basingstoke. William M'Naught, draper, Parson's-mead, Surrey, Dec. 10, at one, and Jan. 12, at twelve, at the Court, Basinghall-street. Follett, official assignee, Sambrook court, Basinghall-street; Cattlin, Ely-place. William Flick, hosier and commiasion agent, Oat-lane, City, and Trafalgar-terrace, Mortimer-road, Dec. 15, at eleven, and Jan. 13, at two, at the Court, Basinghall street. Johnson, official assignee, Basmghall-street; Godsell, Furnival's Inn, Holborn. Thomas Bromley, grocor, Leighton Buzzard, Bedford shire, Dec. 9, at half-past two, and Jan. 13, at eleven, at the Court, Basinghall-street. Groom, official assignee, Abchurch-lane; Edwards, Nelson-square, Blacktriars road. George Rougemont, merchant, Broad- street-buildings, City, Dec. 9, at one, and Jan. 25, at eleven, at the Court, Basinghall-street. Graham, official assignee, Coleman street; Peile and Son, Great Winchester-street. Lewis Franklin, rag merchant, Well-street, Wellelose square, Dec. 10, at two, and Jan. 12, at one, at the Court, Basinghall-street. Green, official assignee, Alderman bury; Greville and Co., Lombard-street. William Thacker, licensed ♦ictualler, Birmingham, Dec. 11 and Jan. 8, at eleven, at the Court, Birmingham. Christie, official assignee, Birmingham; Smith, Bir mingham ; and Weekes, Cook's-court, Lincoln's Inn fields. Thomas Cresswell, butcher, Twyning, Gloucestershire, Dec. 13 and Jan. 13, at half-past twelve, at the Court, Bristol. Hutton, official assignee, Bristol; Ball, Bed ford-row; Sproule and Moore, Tewkesbury. George Jubilee Jones, builder, Bristol, Dec. 13 and Jan. 18, at eleven, at the Court, Bristol. Acraman, official assignee, Bristol; Jones and Co., Crosby-square; Peters and Abbott, Bristol. John Jacob Flitch, leather dresser, Newcastle-upon- Tyne, Dec. 9, at half-p as t o n e , aa d Jan. IS, at one, at the Court, Newcastle-upon-Tyne. Wakley, official assignee, Newcastle-upon-Tyne ; Chater, Newcastle; Bell and Co., Bow Church-yard, City. Thomas Gales, ship builder, Ford, Durham, Dec. 13 and Jan. 11, at twelve, at the Court, Newcastle-upon- Tyne. Baker, official assignee, Newcastle•upon-Tyne; Maples and Co., Frederick's-place, Old Jewry ; Wright, Sunderland. John Robinson, cut nail manufacturer, Birmingham, Dec. 14 and Jan. 11, at eleven, at the Court, Birming ham. 'Whitmore, official assignee, Birmingham; Wright, Birmingham. Edward Lee, ironmonger, Shrewsbury, Dec. 14 and Jan. 11, at eleven, at the Court, Birmiugham. Christie, official assignee, Birmingham; Waco, Shrewsbury, and Smith, Birmingham. Richard Dalby Pawson, apothecary, Leeds, Dec. 20 and Jaz. 27, at eleven, at the Court, Leeds. Young, official assignee, Leeds ; Williamson and Co., Great James street; Bond and Barwick, Leeds. James Exley, blanket manufacturer, Dewsbury, York shire, Dec. 11 and Jan. 8, at twelve, at the Court, Leeds. Stansfield, official assignee, Leeds; Brodribb, Child's place; Scholes, Dewsbury; Ilarle and Clarke, Leeds. George Cowsill, calico printer, Pilkington, Lancashire, Dec. 6 and Jan. 4, at eleven, at the Court, Manchester. Fraser, official assignee, Manchester; Clarke and Wood cock, Lincoln's Inn fields; Grundy, Bury. Henry Harrison Walker, calico printer, Manchester, Dec. 16 and 31, at eleven, at the Court, Manchester. Hobson, official assignee, Manchester; Gregory and Co.,dedford-row ; Whi twort h , M anchester. ohn Noble, omnibus proprietor, Liverpool, Dec. 15 and Jan. 3, at eleven, at the Court, Liverpool. Turner, official assignee, Liverpool; Cornthwaite and Co., Old Jewry-chambers; Pemberton, Liverpool. George Daniel Colquhoun, chemist, Liverpool, Dec. 14 and Jan. 3, at eleven, at the Court, Liverpool. Bird, official assignee, Liverpool; Johnson and Co., Temple; Snowball, Liverpool. DI VIDE N DS. At the Court, Basinghall-street. J. Britten, Redlynch, Wiltshire, market gardener, Dec. 21, at eleven—W. Burton, King -street, Soho, up holdsterer, Dec. 21, at half-past eleven—J. Bishop, Little Russell-street, Bloomsbury, wheelwright, Dec. 21, at twelve—R. Graham, Clapham-common, lodging-house keeper, Dec. 22, at eleven—H. Clark, Redcross-street, City, oil and colour merchant, Dec. 8, at two—W. Cox, Daventry, Northamptonshire, money scrivener, Dee. 21, at twelve —H. Phillips, Tothill-street, Westminster, linendraper, Dec. 21, at one—D. Stuart, Stockbridge terrace, Victoria-road, Pimlico, baker, Dec. 23, at eleven —J. Mathew, Carshalton, Surrey, linendraper, Dec. 23, at eleven—S. W. Sustenance, bookseller and stationer, Dec. 21, at half-past one—S. Bretton and T. Tunwell, Charlotte-street, Fitzroy -square, upholsterers, Dec. 23, at eleven—M. C. Johnstone, Lamb's Conduit -street, draper, Dec. 21, at twelve—S. Unwin, sen., F. Unwin, and S. Unwin, jun., Coggeshall, Essex, woolstaplers,l Dec. 22, at two—T. Ridgway, Huddersfield, wool mer chant, Dec. 23, at half-past eleven—J. D. Brown, Wal thamstow, Essex, apothecary, Dec. 22, at one—R. Woods, Brighton, Sussex, grocer, Dec. 23, at half-past twelve. In the Country. C. Twigg, Birmingham, button maker, Jan. 6, at twelve, at the Court, Birmingham—W. Barker, Notting ham, hosier and lace dealer, Dec. 24, at eleven, at the Court, Nottingham—J. Jackson, Bishop Wearmouth, Durham, banker, Dec. 23, at half-past eleven, at the Court, Newcastle upon Tyne--A. Tunstall, Bristol, oil merchant, Dec. 21, at eleven, at the Court, Bristol—J. Else and W. Dixon, Kingston upon Hull, millers and bakers, Dec. 22, at half past ten, at tke Court, Kingston upon Hull—J. Else, Kingston upon Hull, miller and baker, Dec. 22, at half past ten, at the Court, Kingston upon Hull—A. Smith and T. Irvine, Liverpool, mer chants, Dec. 21, at eleven, at the Court, Liverpool—H. D. Evans, Wrexham, Denbighshire, draper, Dec. 21, at twelve, at the Court, Liverpool—J. Wood, J. Wood, J. Wood, H. Wood, and J. Wood, Silkatone, Yorkshire, fancy cloth manufactures, Dec. 23, at eleven, at the Court, Leeds—T. Hanson, Leeds, builder and contractor, Dec. 23, at eleven, at the Court, Leeds—J. Child, Wake field, Yorkshire, grocer, Dec 23, at eleven, at the C ou rt, Leeds—J. Barraclough, B radford, Yorkshire, timber merchant, Dec. 23, at eleven, a t t h e C ourt , Leeds—B. Pickles, Barnsley, Yorkshire, linen manufacturer, Dec. 23, at eleven, at the Court, Leeds. PAYMENT OF DIVIDENDS. Boyd and Harmer, Spital-square, silk manufacturers, 10s., on Saturday, Dec. 4, and following Saturday, be tween the hours of eleven and two, at the office of Mr. Groom, Abchurch-lane. H. S. Brazier, Oxford, tailor, Bs. 6d., on Dec. 4, and f o ll ow i ng S atur d a y, Saturday, between the hours rrdsay, h ) ! eleven and two, a t the office of Mr. Groom, lchurc lane. J. Barwise, St. Martin's-lane, watch maker, 2s. Gd., on Saturday, Dec. 4, and following Saturday, between the hours of eleven and two, at the office of Mr. Groom, Abchurch-land. J. Radbone, Alcester, Warwickshire, needle manufac turer, le. 4d. and 2d., on any Thursday, between the hours of eleven and two, at the offioe of Mr. Valpy, Birmingham. W. Leather, London-wall, City, wareho useman, 25. lod., on any Saturday, between the hours of eleven and two, at the office of Mr. Green, Aldermanbury. J. Lockwood, Upper Baker-street, builder, 2d., on any Saturday, between the hours of eleven and two, at the office of Mr. Green, Aldermanbury. Elizabeth Smith Dykes, Romford, Egsex, basket maker, ss. 6d., on any Saturday, between the hours of eleven and two, at the office of Mr. Green, Alderman. bury. Ing I'. Gammage K.-street Seven-di a l s , an d J. Mott, Broad-street, Bloomsbury, c'heesemongers lid. , on any Saturday, ,between the ho urs o f eleven and two, . at th office of Mr. Green, Aldermanbury. C. 0. Robson, Finsbury -stre e t, b u ild er an d plasterer, 3d., on any Saturday_, b etween the hours of el even an d two, at the office _of . Mr. Green, Aldermanbury. J. T. Groves, Millbrook Southampton, seed crusher, Bs ► o n any Saturday, between the hours of eleven and two, at the office of Mr. Green, Aldermanbury. W ' Stone, Wood -street, City, laceman, sid., on any PARLIAMENTARY DIVISIONS From the Votes and Proceedings of the Hause of Commons.. MONDAY, N ov. 29. CRIME AND OUTRAGE (IRELAND). Question put, " That leave be given to bring in a Bill for the better Prevention of Crime and Outrage in certain parts of Ireland." The House divided : MAJORITY—AYES, 224. Adair, Hugh E. Fordyce, A. D. Paget, Lord Clarence Adair, R. Shafto Forteseue, J. W. Paget, Lord George Anson, Colonel F, x, J. W. Palmer, Robert Attwoed, John Freestun, Colonel Palmer, Roundel' Ihigshaw, John French,,F. Palmerston, Vie. Bailey, Joseph Frewen, C. 11. Parker, John Baines, M. T. Gibson, T. M. Patten, J. W. Baring, F. T. Glyn, George Carr Pearson, Charles Barnard, E. G. Grace, 0. 1). J. Peel, Sir Robert Barrington, Viscount Graham, Sir James Peel, Colonel Beckett, William Granby, Marquis of Perfect, Robert Bellew, ft. M. Grattan, Henry Peto, Samuel M. Benbow, John GI - senali, Gilbert Pigott, Francis Berkeley, Captain Greene Thomas Pilkington, Janes Bernal, Ralph Grenfell, C. Pascoe Pinney, W. Bernard, Viscount Grenfel , Charles W. Plumptre, J. P. Birch, Sir Thomas Grey, Sir G. Plowden, W. 11. Blackall, S. W. Grey, Ralph W. Price, Sir R. Bourke, Richard S. Grogan, Edward Pusey, Philip Bowring, Dr. Gwyn, 'Lowe' 1 Raphael, Alexander Bramston, T. W. Hallyburton, Lord Rawdon, Colonel Brand, Thomas Hamilton, G. A. Repton, G. W. J. Bremridge, Richard Hamilton, J. H. Ricardo, Osman Broadwood, H. llastie, A. Ricef R. E. Brockman. E. D. Headlam, T. E. Rufford, Francis Brooke, Lord Henley, J. W. Russell, Lord J. Brotherton, Joseph Herbert, Henry A. Russell, F. C. 11. Brown, Humphrey I Heywood, James Sadleir, John Bruce, Lord Id. Ilindley, C. Scrope, G. P. Buller, Sir J. Y. Hodges, T. L. Seeley, Charles Itunbury, Edward Hodgson, W. N. Seymour, Lord Burke, Sir Thomas Hood, Sir A. Shafto, R. D. Campbell, W. F. Borman, Edward Shell, It. L. Cardwell, Edward Hudson, George Sheridan, R. B. Carew, W. P. Hutt, William Simeon, John Carter, John B. Inglis, Sir It. 11. Smith, John B. Castlereagh, Vise. Jackson, William Somerville, Sir W. Caulfield, Colonel Jervis, Sir John Sotheren, T. it. S. Cavendish, C. C. Jervis, John Spooner, Richard Cavendish, W. G. Jocelyn, Viscount Stafford, Augustus Chichester, Lard J. Keogh, William Strutt, Edward Clay, James Keppel, George T. Stuart, Lord D. Clements, Charles Keriltichard Stuart, J. Clerk Sir G. Labouchere, Henry Sutton, Henry Cockburn, Alex. Lennox, Lori A. Talfourd, sergeant Codrington, Sir W. Lewis, George C. Taylor, T. E. Collins, W. • Lindsay, Colonel Tenison, E. K.! Corbally, M. E. Littleton, 'E. R. Tezment, .J. Cowper, W. F. Lockhart, W. Thicknesse, R. A. Crippe. W. M'Gregor, John Thompson, Colonel Curteis, H. B. 33`Naghten, Sir E. Thortiely, T. Davie, Sir Henry M'Tavich, C. C. Townely, John Deedes, W. Megan, W . M. Turner, E. Deering, John P. Mahon, O'Gorman Verner, Sir W. Disraeli, B. 'Maitland, T. Verney Sir H. Dixon, John Marshhll, J. G. Vivian, J. U. Dodd, G. Martin, C. W. Walmsley, sir J. Drummond, 11. Martin, Samuel Ward, H. G. Duckworth, Sir J. Matheson, Alex. Watkins, Colonel Duff, George S. Matheson, Colonel Wawa, J T. Duke, Sir James Maxwell, J. West, F. R 4 Duncuft, John Melgund, Viscount Westhead, J. P. Dundas, Admiral Mitchell, T. A. Willcox, Brodie Dundas, Sir David Nowell, William Williams, John Dumas, Ge,rge Moore, George 11. Willoughby, Sir 11. Dunne, Francis P. .111 organ, 0. Wilson, Matthew Edwards, Henry Morpeth, Viscount Wood, Sir Charles Evans, John Mowatt, Francis Wood, W. P. Evans, William Mulgrave, Earl Wortley, J. S. Ferrer, James Norreys, Sir D. Wrightson, W. B. Ferguson, Sir It. Nugent, sir Percy Wyld, James Fitzpatrick, JW. O'Brien, Sir Lucius Wyvili, Marinaduke Fitzroy, Henry O'Connell, Itl. J. Yorke, H. R. litzwilliam, G. W Ogle, S. C. TELLIES. Foley, John 11. Osborne, Ralph Inch, Henry Forbes, William Oswald, Alexander Tullio'', Henry MINORITY-NOES, 18. Anstey, Thomas C. Lushington, Charles Scholefleld, William Blewitt, R.J. Meagher, Thomas Scully, Francis Devereux, J. T. Morgan, 11. K. G. Thompson, George Fagan, William O'Brien. Timothy Watley, Thomas leoz, Richard M. O'Flaherty, Anthony TIILL2/.8. Greene. Captain Power, islcholas O'Connor, Feargus Keating, Robert Reynolds, John Crawford, W. ti. RAILWAY SHARE MARKETS. BRISTOL, NOVILMIIEI 30. Srocx EXCHANGE.—The sales are—Great Western, Quar ters, 2 1 1 1 p.—Ditto, New, 171. Shares, I p.—Midland (Bir mingham and Derby), 82—North British, Thirds, 2/4 —Taff Vale, Quarters, 25 'LIVERPOOL, NOVEMBER 30. STOCK Excmsnaft.—The sales are—Birkenhead, Lanca shire, and Cheshire 311. Shares, (late C. and B.) 17 c.— Birmingham and Oxford, 3t4 p.—Great Western, Quarters, 2 p.—Lancashire and Yorkshire (late M. 8., and B.), Fifths, p.—Ditto, Fifths (late West Riding Union), 2% dis.—Leeds and Dewsbury, c. 3 dis.—London andiNorth- Westen3,lss% Ditto, Quarters:(A and B), p.—Ditto,(C), p.—Man cheater, Sheffield, and Lincolnshire, Quarters, No. 1 (guar. 7 'A e per cent. till 1353), p.—Midland, 110 e.—Ditto, 40/. Shares, 42N —North British, Quarters, par—North Stafford shire, par—Shrewsbury, Oaweetry, and Chester, 5 dis.— Ditto, Preference (guaranteed 8 per cent.), 1% p.—South- Eastern and Dover,New, No. 2, 534 dis.—Ditto, Consolidated No. 3, 5 3 4 dis.—Ditto, No. 4, 2 dis.—York, Newcastle, and Berwick, 134—Ditto, Extensions, No. 1, 4 p.—Ditto (N and B.) Extensions, No. '2, " 2% p.—Ditto (G. N. E. Fur chase), 1% p. MANCHESTER, Nov. 30. STOCK Excizemix.—The sales are—Huddesfield and Man chester Railway and Canal, Thirds, sfi dis.—Lancashire and Yorkshire, 32/. Shares, 5 dia.—London and North-Western (Blanchester and Birmingham), Quarters (B), 4% p.—Man chester, Sheffield, and Lincolnshire, Quarters, No. 2, 17 Ditto, Preference, 1 4 p.— North Staffordshire, 1-16 p.—Pres ton and Wyre, 34 1 ,x—South-Eastern and Dever, No. 4, 2 di& -York, Newcastle, and Berwick, Extensions, N 0.2, 2 5-16 p. LEEDS, Noviimaßa 29. STOCK EXCIIA.NGE.—The prices of shares have varied very little for the last four or five days. A moderate amount of business continues to be done, and that chiefly for invest ment. The sales are—East Lancashire, 3%—Ditto, New, 4 dis.—Ditto. Quarters, 16s. dis. —Great Northern, 6 dis.— Lancashire and Yorkshire, Fifths, par—Ditto (West Riding Union), 2% dis.—Leeds and Thirsk, 15 1 / 2 dis.—Ditto, New, 13 1 4 dis.—North British, Thirds, 2s. 6d. p.—Ditto, Quar ters, ', n. dis.—Ditto Extension, par—North Sta ff ord s hi re , 9d. dis.—North- Western, 4 1 / 2 dis.—York, Newcastle, and Berwick, Preference, 1 1 4 p.—Ditto, No. 2(New Borwicka), 21. Is. 3d. p. YORK, Nov. 29. STO6K ExcifAxo E. The sales are— Great Northern, 4% —Leicester and Bedford, I Is. 6d,— North British, Halves, 12 —Ditto, Thirds, 2/. 4s. c.—Ditto, Quarters, 4/. 14e.— Ditto, Extension, Ils. 9d.—York, Newcastle, and Berwick, No. 2 (New Berwicks), 12. EDINBURt;H, Noymus ER 29. STOCK EXCIikKGE.—The sales are—Caledonian, New, 245.6d.—Edinburgh and Northern, 171.58.—Ditto, New, 425. —Great Northern, 90s. —North British, 271.—Ditto, Quar ters, 935. 6d. —Ditto, New Quarters, 12s. Cd.—Ditto, Thirds, PERSON AL GRACES.—The countenance is rendered additionally pleasing by the well•arranged curl, the braided plait, or the flowing tress. In dressing the hair, nothing caa equal the effect of Rowland's Macassor Oil, on either natural or artificial hair, rendering it so admirably soft, that it will lie in any direction, producing beautifully flowing curls, and by the transcendent lustre it imparts, rendering the head dress truly enchanting. Rowland's Kalydor is a preparation of unparalleled efficiency in improving and beautifying the akin and complexion, preserving them from every vicissitude of the weather; and Rowland's Odonto, or Pearl Dentifrice, is alike invaluable for its beautifying and preservative effects on the teeth and gums. Caution—lt is necessary to see that the word " Rowland's" precedes the name of the article on the wrapper of each, as spurious imitations are abroad. MENDZLSSOHN, THE COMPOSIR. The German journals give very interesting particulars relative to the death of Mendelssohn. Mendelssohn was brought up with a sister, who married an artist of the name of Ilaensel. He himself married, about ten years ago, the daughter of a senator of Frankfort. These two fami lies were inseparable. Mendelssohn, and his sister, Fanny Haensel, formed but one soul. This remark able woman was herself a good composer, and directed the first steps of her brother in his musical career. About nine months ago Fanny Haensel composed a symphony, the performance of which she conducted herself. At the commencement of the fifth part Madame t Haensel dropped dead of an apoplectic L it. Since that time M. Mendelssohn wandered about l i ke a shadow among the living. In a letter addressed to his wife, he says—" Our common soul has taken flight to Heaven. advertised sail is 1 greatly fear I shall shortly go to meet her, for Fanny always T h e p r omised W a shington was and take ert meise d from o h world, should she die before me." Two m on th s a f ter Mendelssohn died of an apoplectic fit. from New York for Southampton and Br emen 18th of November ; she may , therefore be on th e f©w days. , expected i n a Saturday, between the hours of eleven and two, at the office of Mr. Green, Aldermanbury. A. Rainey, Regent-street, Piccadilly, estate agent and auctioneer, 28. 6d., on any Saturday, between the hours of eleven and two, at the office of Mr. Green, Aldermanb ur y. H. and T. T. Woodhouse, Aldermanbury, warehouse men, 2s. 6d., on Friday, Dec. 3, and any subsequent Friday, between the hours of twelve and three, at the office of Mr. Follett. Sambrook -court, Basinghall-street. C. C. Knight, Landport, Southamptonshire, draper, 2s. 6d., on Friday, Dec. 3, and any subsequent Friday, between the hours of twelve and three, at the office of Mr. Follett, Sambrook court, Basinghall-street. H. Clark, Redeross-street, City, oil and colour mer chant, 3s. 6d., on Friday, Dec. 3, and on any subse quent Friday, between the hours of twelve and three, at the office of Mr. Follett, Sambrook -court, Basing h all. street. J. Page, Walsall, Staffordshire, iron dealer, lid., on any Thursday, between the hours of eleven and three, at the office of Mr. Christie, Birmingham. S. Brown, Trowbridge, Wiltshire. woollen cloth ma nufacturer, 18s., on any Wednesday, between the I,lpra of telt and eleven, at the office of Mr. Miller, Bristol, NOTICES OF CERTIFICATES. At the Court, 113singhall•streer. F. Wiggins, Union -street, lilackfriara, horse con tractor, I)ee 21, at eleven—J. Britian, Itcdlynch, Wilt shire, market gardener, Dec. 21, at eleven—J. A. Phil lips, Riches-court, Lime-street, City, merchant, Dee. 22, at two—J. Rawlins, of Foley-place, couch maker, Den. 21, at half-past twelve—J. Gilbert, Boston-street, Hack ney road, engineer, Dec. 21, at two. In the Country. A. Leighton, Liverpool, broker, Dec. 22, at eleven, at the Court, Liverpool—W. Pineger, Ifighworth, Wilt shire, innkeeper, Dec. 21, at eleven, at the Court, Bristol —G. Webster, Staincross, Yorkshire, nail maker, Dec. 23, at eleven, at the Court, Leeds—D. Gostick, Keitl: l; Yorkshire, gr ocer , D ec. 23, at eleven, at the Court, —P. Bevan, Liverpool, flour dealer, Dec. 21, at eleven, at the Court, Liverpool —A. Thomas, Liverpool, cart owner, Dec. 21, at eleven, at the Court, Liverpool—W. Grills, Launceston, twine manufacturer, Dec. 22, at one, at the Court, Exeter —H. Turner, Wolverhampton, scrivener, Dec. 23, at twelve, at the Court, Birmingham —H. Cocker, Hathersage, Derbyshire, needle manufac turer, Dec. 22, at twelve, at the Court, Manchester—T. Dawber, Manchester, calico printer, Dec. 23, at twelve, at the Court, Manchester—J. Burt, J. Burt, jun., and W. T. Watson, Manchester, agents, Dec. 21, at twelve, at the Court, Manchester. At the Court of Review, Dec. 21. E. Morgan, Lisson-street, Marylebone, coach builder —S. Harvey, East Meroea, Essex, cattle and sheep dealer, jobber, and farmer—J. Reay, Mark-lane, wino merchant—S. Hurdle Ilazelbury Brya n , D orsets hi re , cheese factor and innkeeper—J. Evans, Oldington, Wor cester, corn dealer—J. S. Dunn, Coventry, draper—W. G. Boucher, Stepney-green, merchant —J. Hancock, Weston-super-Mare, Somersetshire, builder and plasterer —W. S. Brown, jun., Broad -street, Ratcliff, sail maker and ship chandler—B. Robinson, Huddersfield, fancy cloth manufacturer and merchant—G. Maddison, Swaff ham, Norfolk, grocer and tallow chandler—R. W. Gar diner, Hereford, cattle and horse dealer—J. Mott, King street, Seven-dials, cheesemenger. PARTNERSHIPS DISSOLVED. 11. Hull and F. Hull, Newmarket St. Mary, Suffolk, cabinetmakers and upholsterers—G. T. Kern and T. Martens, Newcastle-upon Tyne, merchants—R. D. Iron side and A. Ironside, Newgate market, salesmen and provision merchants—G. Bartholomew and W. Bartho lomew, Pavement, Finsbury—H. W. Palmer and G. H. Ward, Bear-alley, Farringdon-street, printers—E. Lan dells, R. Palmer, and J. Clayton—A. T. Guttcke, J. R. Smith, 11. Perkins, A. Smith, and G. A. Mullens, Man chester—H. Roches and C. Roches, Bank-chambers, Lothbury, stock and sharebrokers—W. Killick and W. Winstanly, Bank-chambers, share agents—N. Dean, W. Dean, and J. Dean, Abingdon, Berkshire, iron and brass founders, agricultural implement makers, and ironmon gers—H. Ashby and T. Boorah, Great Surrey-street, grocers and tea dealers—Hannah Grinishaw and J. T. Crook, Liverpool, ship and passenger brokers—R. Wrightson, jun., and J. Bell, Birmingham, booksellers. printers, and stationers—E. Oliver and H. Heaton, Dunstable, Bedfordshire, straw bat manufacturers—J. Cowgill, J. Hirst, B. Jessop, J. Hopkinson, and S. Riley, Hudderafield, Yorkshire, fancy woollen manufac tueers—W. M'Cormick, Belfast, and W. Dargan, Bottle Hall, Liverpool, contractors of public works—B. Wilson and B. Ware, Aldermanburv, straw hat and bonnet dealers—J. Tonge and J. Tonge, Great Bolton, Lance - shire, painters and plasterers. INSOLVENT PETITIONERS. Henry Winthorp Moughan, Aston, Warwickshire, clerk in a brewery. Benjamin Wallis, Southampton, steward. James Garrett, Cheltenham, retailer of beer. Mark Utley, Rycroft, Lancashire, engineer. George Daniels, Cheltenham, innkeeper. George Lauder, Cheltenham, corset and stay maker. John Wheeldon, Ashburn°, Derbyshire, general . shopkeeper. Osmond Charles Raymond Maillard, Cheltenham, keeper of a register office for servants. Thomas Thomas, Birmingham, japanner. George Ford, Stapleton, Gloucestershire, hay dealer. Henry Fullford, Bristol. George Horwood, King Stanley, Gloucestershire, farmer. Thomas Jenkins, Bedminster, Bristol, butcher. James Edwin Davis, Stroud, Gloucestersh ire. Charles Charlesworth, Salford, Lancashire, baker. William Jenkins, Nautwich, Cheshire, chair maker. Griffith Morris, Birkenhead, Cheshire, beer house keeper. William Andrews, Bebbington, Cheshire, book keeper. Daniel Mann, Buckden, Huntingdonshire, beer seller. Abraham Kemp, Lakenham, Norwich, carpenter. Richard Rowlands, Liverpool, basket maker. Thomas Gidlow, Liverpool, journeyman butcher. John Beak, Clifton, Bristol, carpenter. John Kershaw:, Rochdale, Lancashire, labourer. James Miinight, Swansea, Glamorganshire, licensed victualler. SCOTCH SEQUESTRATIONS. S. Richard, Edinburgh, builder, to meet, Dec. 8 and 24, at one, within the chambers of Messrs. Weir and Gardiner, Edinburgh. A. King, Glasgow, grocer, to meet, Dec. 6 and 27, at twelve, within the writing chambers of J. Lamont, G lasgow. A. Mitchell, Glasgow, clock maker, to meet, Dec. 3 and 24, at one, within the office of Railton and Ander son, Glasgow. G. Hay, Dufftown, Banffshire, merchant, to meet, Dee -6 and 27, at twelve, within the writing chambers of W. Tharburn, Keith. _ _ _ A. Galbreath and A. Carswell, Glasgow, ship and insurance brokers, to meet, Dec. 6, and Jan. 3, at one,. within the writing chambers of A. Dick, Glasgow. A. Reid, Glasgow, builder, to meet, Dec. 7 and 28, at one, within the office of A. Clark, Glasgow. D. Hill, Edinburgh, bootmaker, to meet, Dee. 8 anti 29, at one, within Dowell's sale-rooms, Edinburgh. COURT CIRCULAR. Mr. Winch, Mr. Mann, and Mr. Hassell, a depu tation from the Wallasey Commissioners, and Mr. Fletcher, had an interview with the Commissioners of her Majesty's Woods and Forests yesterday, at their office in Whitehall-place. Mr. W. Evans, M.P., had an interview with the Right Hon. E. Strutt yesterday. Mr. Wilson Patten, M.P., had also an interview yesterday with the Right Hon. Gentleman, at the Office of the Commissioner: of Railways, in the Board of Trade. Lord Crofton had an interview with Sir George Grey yesterday. Mr. Evans, M.P. for Haverfordwest, had also an interview yesterday with the Right Hon. Ba'onet, at the Home•office. The Hon. Mr. Roberts, from Jamaica, had an in terview with Earl Grey yesterday. Mr. William Hutton had also an interview yesterday with his Lordship at the Colonial-office. The Lord Chancellor passed a good night on Mon day night, and was better yesterday. A number of plans for new lines of railway were yesterday deposited at the office of the Commissioners of Railways, in the Board of Trade. Dispatches were sent off yesterday evening from the Colonial-office for the Governor of New South Wales. DANGEROUS WASHING AWAY 01' A PART OF THU SOUTI.WESTERIC RAILWIY.—ROMSAT, NOY. 28.—The heavy rains for the last three days caused the waters in the River Test, Andover Canal, through Romsey, and all along the low lands in this neighbourhood to rise to so great a degree as to force its way under a part of this railway, at a place called Cramp Moor Bottom, about _ two miles from Romsey, and five miles from i the Bishop stoke station. About three o'clock this afternoon d ta ow t n be rails dept w b er ot e I s y e a y s e h r e a d l leng t hs away, s u c p en d overod some feet with water. The t rain from Salisbury, as fiy, an o d f th b e o m th meadow s ow o'clock, for London, was therefore detained two hours beyond its time, not arriving at Bishopstoke station WI past eight o'clock. The Southampton train, leaving least accidentecoccia there at six o'clock, having gone on to town near) r two hours, the, passengers had therefore to be Bp • l y ex pressed for London. Not the Men were set to work to repair the damage, irred. sufficiently strong e hoursnd FAILURES i train t ri made a a s d i t o v w e c r k in s T s L a l f e . . . . . .t y . Tit i s and within t o the a 1 COMMERCIALII o n w ce th o e f t e h n r g e engin e town and neighbourhood ar e l now beginning to feel the consequences of money)district preoesusrutred, during ruptcy have been o ened the pipaa a ri t te : e the disastrous bank sto Five fiats in bank this week-- num ber unparalleled in its history Irnreay, of Jarrow, shar d wal opened against Mr. Robert. manufacturer. His liabilities. are stated at 9 3 00 1 due ' , 0. of which 16 , 0001. is said to by to his bankers. The assets b 3 o ,o ld oo s / a . m or or 4 l ,oooL a V- Another fiat was opened on the same day against James g Hudson, of the New-road, marine store dealer, whose premises were recently destroyed by fire. The snots are sufficient to pay the liabilities in full, but the bank rupt is a holder of 223 shares in the North of England Bank. Yesterday three fiats were opened, one against Mr. Thomas Gales, of Sunderland, shipbuilder. The liabilities are 12,0004, and the assets aro stated at 5,0401. —Newcastle Guardian. _ _ [ADVERTISEMENT. J—SEVERY COLDS AND TERI* INJURIOUS EFFECTS READILY REMOVRD 7T HOLLOWAY'S PILLS.— This fine Medicine will do more real service in three days lathe cure of the most obstinate coughs and colds, even when seriously affect/az the lungs, than ally other medicine in the universe; and where there, is much accumulation of phlegm in the respiratory organs, by thecae Pills it is immediately carried oft through the bowels—thus tat patient gets instantly relieved, and a radical cure is lusured by si„ little continuance in the same course. The asthmatic, esr those suf fering from tightness of the chest or difficulty of breathing, sh ula try the virtue of this surprising remedy. Sold by all dru gg i, at Profemor llelloway's Establishment, 244 Atranii i Loud - " OIL "a, ace ea on eat