The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1876-02-26 00:00:00

SATURDAY, FEB. c2G,

IMPERIAL PARLIAMENT.

In the HortsU OP LORDS, Feb. 21, the Delp est Somerset,
after referring to the failure of chain cables 1 thiring the
voyage of the Serapis, inquired under what system tne
Admiralty procured chain cables and anchor's for Her
Majesty's ships, and in what manner they were tested.
Lord Malmesbury replied that the Admiralty procured the
tables and anchors from the best mak-e, and subjscted them
to three tests, the nature of whieh he expl.ined. He did not
know that greater precautions could be taken than were
already adopted by the Admiralty.
The Duke of !,omerset said that it seemed that the
Admiralty bought inferior anchors, and that all other nation
Were supplied with better.
Lord Lett ierd ale and Lord El phinstorie made a few remarks
and the Matter dropped.
The Duke of Rtchmond and Gordon, In replV to Lord
Infield, said that he had hoped that the new road across the
Green Park, to relieve the traffic at Hyde Pask-corner, would
have been completed without delve, but at the end of last
&fusion of Parliament the attention of the First Commissioner
of Works was directed to certsin objections which were
made to the plan, and vrhich Were felt to he well founded.
Since then other schemes had been- proposed, but up to the
present time no solution had been arrived at.
Lord Poets thought that certain -improvements might be
Made on the plan of last year, and Lord Hampton believed
that if the road were carried by a subway beneath Piccadilly
She objections would, to a great extent, be got ri I off.
The Duke of Cambridge said that it would be impossible
to carry a large road traffic across another line of traffic like
Piccadilly, and the only mode of proceeding was to conduct
the immense traffic coming from Oxford-street through a
EVYWay under Piccadilly.
In reply to Lord Rosebery, Lord Jersey stated that the
Sewage Returns ordered last Session would be laid upon the
table within a month.
Their Lordships then adjourned.
In • the HOUSE OF COMMONS, Mr. Hardy, in answer to
General Shute, said it was intended, unless anything unfore-
Seen occurred, to mobilize two Army Corps this year.
In Committee of Supply, the adjourned debate on the pro-
potted vote of £4,080,000 for the purchase of the Suez Canal
Shares was resumed by
Mr. Lowe, who canvassed the circumstances of the pur-
chase very minutely to show that neither Mr. Disraeli nor
the Chancellor of the Exchequer had accurately described
the nature of the transaction, and insisted that some £37,000
Ought to be added to the vote for the interest which
Messrs. Rothschild must receive. The arrangement's
With Messrs. Rothschild, he held, were very exor-
bitant, because there could be no risk in their ad-
vance. We must repay it unless we wished to make
It impossible for our Government to borrow money
at any future emergency; and to illustrate how the
thing might have been done more Cheaply, he related the
Manner in which he had raised the money for the Alabama
indemnity, at which there was much ironical cheering from
the Ministerial benches. The transaction might be re-
garded as an important political demonstration, as a purely
financial affair, or as intended to acquire influence in the
management of the Canal The political importance of the
purchase had been minimized as much as possible lately
107 the Government. but this made many things in it
quite unintelligible—Mr. Cave's mission, for instance, of
Which he gave *a very jocose description. In his speech
Sir S. Northcote asserted that the Government had acted
deliberately, but, on the contrary, Mr. Lowe asserted that
theY had acted with incredible carelessness and negligence,
and were not well informed, because they were under the
Mistaken impression that by buying shares they had acquired
Votes and influence in the management of the CanaL This
Was emphatically contradicted by the Chancellor of the
Xxchequer, and Mr. Lowe went on to prove his charge by
Rotations from Lord Derby's despatzhes, and from The
ntes' leaders. This point he elaborated at some length,
protesting, at the same time, that he should be glad if
Minieters could prove that they were really aware that the
Shares carried no voting power.
Sir H. Wolff characterised Mr. Lowe's attack as being so
weak as scarcely to demand a reply-, but he pointed out that
the Treasury Minute expressly provided that Messrs. Roths-
child should receive the 5 per cent. interest until they were
repaid. The Government, he maintained, had obtained in-
fluence, and the transaction was a far better bargain than
the three millions which the other aide had sunk in the
Alabama indemnity. But neither this country nor foreign
teuntriea took a pecuniary view of the question; they re-
garded the event as a renewal of that vigour and energy
Which had long been wanting in our foreign policy. He
advocated a policy of redemption, such as had been pursued
In the case dt the Sound and Scheldt dues, and he hoped
that the purchase would be the first step towards an inter-
- national concert in regard to the management of the CanaL
Mr- Gladstone begin by assuming the transaction was a
completed one, and must be ratified by Parliament; conse-
• quently all that could be done was to criticize and ask for
' the further explanation which had been conspicuously want-
Lug in the Chancellor of the-Exchequer's speech Though
the great stroke of policy which tne Metropolitan Press had
Praised so loudly had sunk greatly in its dimensions, yet he
con_ tended that the transaction was unprecedented and con
vary to our financial rules. In the first place, be contended
that the Government ought to have gone to the Bank of
for aid, end net to a private firm like that of
Rethschild, and he asked whether the course
by the Government had not led to Stock-Exchange
°lterations by persons who had obtained knowledge
Of what was contemplated. He agreed with Mr. Lowe
that the terms charged by Messrs. Rothschild were
exceesive—amounting, he showed, to 15 per cent., with-
any risk. He denied that there was any necessity
.or moving in the matter, for we were in union with all the
Maritime Powers, and M. de Lesseps, having tried all he
nigh?'" do, had been conquered, and had been unable to close
we Canal. No specific statement had ever yet been made
oi the evils which would have befallen if the shares had
gone into the hands of a foreign company. But supposing
She necessity of moving be proved, this was not the best
.112,r(1e of moving in it. The Khedive himself wished to
1t0.....",gage and not to sell his shares, and if we preferred pur-
''."`", Why did we not also buy the Founder's Shares, which
Within some short time would be profitable? He was at a
loss to see how the purchase would give us greater facilities
tor keeping open the navigation of the Canal. Our power
Must proceed either from preponderance of votes or unity of
bltereat with the other sharelwiders, but we had only ten
Votes, and our Interest was not so much to obtain dividends
as to improve the navigation and keep it in the most effective
condition. Indeed, it was not impossible that we might be
called on to sanction grants in aid. Mr. Gladstone maae
of also some strong observations on the profligate management
EgePtian finance, and expressed grave apprehensions, not
only of the non-payment by the Khedive of the £200,000 a
year, but of what might happen when we found ourselves
compelled to press him for payment.
The Chancellor of the Exchequer replied that though some
of the inconveniences dwelt on might arise, they would have
arisen none the less—perhaps would have been precipitated
.--had the purchase not been effected. Indeed, it might put
the Government in a position to prevent them. As to Mr.
Gladatone's arguments drawn from the tone of the Metro-
Dolitan Press, Sir Stafford said it was enough for the Govern-
ment to defend their own conduct without being responsible
tor the inferences of the Press, and he denied emphati-
c/Lib' that the Government had inspired the Press,
or bad done anything more than to communicate
tep it the fact of the purchase. He explained again
rale manner in which the Government had been led to pur-
chase the shares, rather than leave the Khedive to mortgage
them at a ruinous sacrifice, and asserted positively that the
fact of the shares only carrying ten votes was perfectly well
known to the Cabinet. The Government had gone to Messrs.
Rothschild rather than to the Bank of England, because it
an unprecedented transaction, and because time pressed.
• Ile repeated the explanation he had formerly given as to Mr.
Oare's mission, contending that it was a matter of prudence
and high policy to prevent Egypt falling into a position of
embarrassment
Sir M'Kenna, Sir H. Holland, Mr. Roebuck, and Mr.
Leveson-Gower having spoken, Lord Hartington remarked
that Mr. Gladstone had put many questions which had
not yet been answered. Nevertheless, were the objections
to the transaction ten times stronger the House would
• hardly be likely to repudiate it at this stage. Personally,
be had always admitted that"from a political point of view
there watemuch to be said for It as a declaration, at a time
of peculiar delicacy, that the Government was determined to
assert the interests of Great Britain. But the
Government had done all in its power to weaken
the political importance of the step. No tioabt every
• Sabinet .in .Europe had fully considered the ques-
tion, and therefore a frank exposition of the views which
the Ocrvernment held as to. the position of the Canal in time
twar eoidd be in no way damaging. But neither in war
in peace would the acquisition of these shares improve
- our' Peltitlen. The Maoquis canvassed at some length. the
circumstances of Mr. Cave's mission, which he disapproved,
learine. g that it would lead to a financial • intervention in
ACM, and might tendrils in a humiliating position.
Mr. Disraeli refuelled that, however unanimous the vote
`Would be it was clear that if Mr. Gladstone had been in
office the shares never would have been purchased—at which
there was .much cheering' and counter cheering. Replying
to the criticisms of Mr. Lowe and Mr. Gladstone on the
ftation, he pointed out that it would have been
wegal for the Bank of England to lend the money, and, as few capitalists were in the habit of keeping
tour millions at their bankers' the rapid conversion
of securities, as well as other 'risks, justified the pay-
ment of a comnaission. As to Stock-Exchange speculation,
the secret had been well kept by Messrs. Rothschild, and it
Was the telegrams from Cairo which led to that gambling.
As to the policy of the transaction Mr. Disraeli denied
altogether that the Government made the purchase
In ignorance of the number of votes the shares would
carry, and maintained that the possession of a large
amount of the capital must give us considerable
Influence in the management of the Canal. He ridi-
Sated the fears of complications, and, replying to Mr.
Gladstone's questions, he said the Government had not
bought the Founders' shares because they had already got
what they wanted, and had no motive for doubling the
Operation. But these questions of Mr. Gladstone, he pointed
°Ws Were mere abstract assumptions which Mr. Glad-
stone had never proved. He still declined to enter
Into a discussion with Lord liartington as to the posi-
tion of the Canal in time of war, and with regard
to Mr. cave's mission, although it was not concluded, he
maintained it had been beneflciaL He did not recommend
the Purchase as an investment or a commercial speculation,
but as a political act calculated to strengthen the Empire
As such, its propriety and wisdom had from the first been
recognised by the people, sea-nick of the "silver streak,"
desiring the maintenance of the Empire, and not afraid of
Its extension.
lihe Vote was then agreed to, amid much cheering.
The other business was disposed, of and the House ad-
ourned at twenty minutes to one o'clock.

In the HOUSE oF LOADS, Feb. 22, the Lord Chancellor,
In presenting a Bill on the subject of Letters Patent for In-
yentions, saio that last year a Bill was introduced and passed
by their lordships, but owing to the pressure of public business
It failed to pass the House of Commons. In the provisions of
that measure he now proposed to make several alterations of
tnaportance. In the first place he proposed that the time of
Protection for all inventions should be uniform, viz,,
fourteen years, instead of being, as was last year proposed,
fourteen years or seven years, accordiag to the kind of the
Invention. In the next place he proposed now to confine
the issue of letters patent to the Commissioners of Patents,
stud the examiners—the regular officers under theta, without
calling in, as had been Pr.nPosed,in the lash session, the Mt
W Professional and 'technical assistants.
The Bill was read a first time.
• Lord Cottesloe referred to the Royal Commission on Rail-
, VraeAccidentriand, deeming the injury arid loss of life ocea-
'atoned by tekli to be as deserving of consideration as any
loss of life caused by unseaworthy ships, desired to know when
'the Report of that Commission, appointed three years ago,
:Would be presented. •
' The Duke-of Richmond and tordon said that the Corn-
• Iniasioners had visited all parts of the United Kingdom in'
,•
~.the course of their investigations, and they had now brought
ea a close all the evidence on the aubject,- but he could not
'hold out any. hope that their Report would be presented'
before Easter.
The Duki,of St. Albans brought the subject of the Mar-.
tint-Henry Rifle under the notice of the House, observing
- that this weapon was not, as far as he understood, so perfect
Ittihad been expected, andiasked whether there ivould be any
Objection to lay on the Table.the official Reports respecting
It, and the estimated cost of repairing the defects corn-
. Valued of.
Lord Cadogan said that some defects had been pointed ou
I t
h the Martini-Henry Rifle, but they were such as could be
remedied at a comparatively small cost. As this
particular
rifle was chesen after great deliberation, and as much
11?tiblic money had been spent in its manufacture. it was the
duty of the Government to make the arm aerViceahle by
remedying the defects.
Lord Grey thought that the first consideration should be
to provide our soldiers with the best possible weapon; and
he wished to know whether it wps true that the recoil of
this weapon interfered with correct shooting.
Lord Lansdowne stated that he had been told that the
Martini-Henry Rife had been tried by a large number of
reldinenta, and that the Reports respecting it were highly
satisfactory, the recoil being one of the points to which
attention was directed.
The Duke of Cambridge said he should prefer the rifle it it
had a half-cock. No doubt some defects had been pointed
out, but they might be remedied by more careful manufac-
ture, and the recoil was found to be owing to the musket
"wing too long.
Lord Cardwell said that he shrank from no responsibility
with respect to the Martini-Henry Rifle, and he hoped that
the Govarinnent would lay on the Table Reports relating to