The Press.
London, England, 1855-08-04 00:00:00

THE PRESS.

That such Exchequer Bonds, if issued, shall be paid off at
par at the expiration of any period not exceeding six years twin
the date of such bonds.
That the interest of all such Exchequer Bonds shall be payable
halryearly, and shall be charged upou and issued out of the
Consolidated Fund of the United Kiugdoin, or the growing pro.
duce thereof.

In so doing he explained his original estimates
both for the income of the year and the civil ex.
penditure. Those for the navy and the transport
service would, perhaps, exceed the estimate by be-
tween three and four millions. The military expen-
diture involved supplementary estimates, which had
been sanctioned by the house since he made his
financial statement, and he had reason to believe
that such supplementary estimates would more than
cover the expenditure. The proposed resolutions
would leave here a margin somewhat over two
millions, which, however, would be practically ab-
sorbed by ways and means bills issued before the
first instalment of the loan was paid, and which
must bo provided for out of the revenue of the
current year. He, however, anticipated that suffi-
cient accuracy had been obtained in the estimates,
so that there was small chance of unforeseen con.
tingeucies. The number of Exchequer Bills in cir-
culation would nut, he added, be equal to what it was
for many years subsequently to the close of the
late war. _

Mr. GLADSTONE observed that the country might
feel uneasy at the rapid increase of the unfunded
debt, especially as the market was now subject to
various kinds of •.;ompetition unknown to our fore-
fathers, and which restricted our own ground of
action. He reminded the house of the admitted
principle that the needful supplies were to be met by
taxes as well as loans, a principle which he trusted
would be borne in mind next year, when, he hoped,
any comprehensive arrangement would include en-
larged proposals of taxation.
Mr. DISRAELI expressed some misgivings whether
the Chancellor of the Exchequer, with the resources
at his command, could see his way clearly to the
close of the year. He asked, likewise, if the arrange-
ment was in accordance with the promise given to
the loan contractors, that no other loan should be
raised this year?
The CHANCELLOR of the EXCHEQUER replied that
the issue of Exchequer Bills and foreign loans were
expressly reserved. He did not anticipate that he
should have to bring any large amount of bills into
the open market before December.
After some further conversation, in which Mr.
GLYN expressed his satisfaction that the issue of Ex-
chequer Bonds formed part of the scheme, the reso-
lutions were agreed to.
SUPPLEMENTARY NAVAL ESTIMATES.

The sum of 1,141,1681. was voted on Tuesday for
the year 1865-6. In moving it, Sir C. WOOD stated
the progress that had been made in building gun-
boats, for the expenses of which great part of the
money (526,000/.) was required. In course of the
discussion reference was again made to the plan of
Lord Dundonald, whom Captain SCOBELL declared
to be—so far from a rash man—one of the coolest in
the service. The same gallant member recom-
mended the construction of war rafts, of which a
hundred could be built for the expense of one gun•
boat, and in two or three weeks' time.
Sir G. Pacmcf.f. made some observations on the
Russian fleet in the Pacific, which had managed to
keep together, might elude our squadron, and even
enter the Channel, doing incalculable damage.
SUPPLEMENTARY TRANSPORT SERVICE
ESTIMATES.

On Tuesday 1,584,8001. was voted for these esti-
mates. This sum was due, Sir C. WOOD stated, to
the additional services it had been called upon to per-
form for our allies, France and Sardinia. It was but
due to France, who maintained so large an army in
the Crimea, to afford her all the assistance in our
power in the transport of that army and its equip-
ments. We had likewise many Turkish troops to

transport.
A discussion followed, in which the Government
were blamed for paying for transport by time instead
of service, and complaints were made of the waste of
money by negligent management. The transport
service ought to be, it was argued, under the War
Department in time of war. Sir C. Woon opposed
the last doctrine, giving reasons why the department
should continue to be intrusted to the management
of the Admiralty.
GRANT TO THE ROYAL SOCIETY.

The withdrawal of the grant of 1,0001. to the Royal
Society for scientific purposes, complained of some
time since by Professor Owen, was the subject of
remark in both houses on Tuesday. Earl GRANVILLE
in the and Lord PALMERSTON in the other, ei-

which it was first given had ceased, and it was refused
accordingly.
ART MUSEUM.

The vote of 15,66(11. fora building to hold the
various objects of art and science now scattered in
different directions, caused some remarks on Thurs-
day. The building is to occupy part of the ground
purchased at Kensington Gore; and Messrs. SPOONER
and BRIGHT, with others, referred to the enormous
plan which had been proposed for covering this
ground with museums—urged that. the commence-
ment should not be lightly undertaken, and that it
would lead to consequences which no one could fore-
see. In reply, Lord PALMEWTON, Mr. DISRAELI, and
Mr. GLADSTONE explained that the articles in ques-
tion intended for the special instruction of the peo •
ple were now stored away in cellars, cases, and
trunks, quite unavailable for any useful purpose ;
and it was now proposed to erect a cheap iron
building of a temporary kind, to make these impor-
tant objects accessible. The building would not
exceed the estimates, and the materials would sell for
nearly the cost. The vote was agreed to after a
division of 85 to 33.

PUBLIC OFFICES.
The vote of 11,0001. for the purchase of the
Crown lease of Buckingham-house passed on Tues-
day, when Lord PLLNERSTON stated that some
blanches of the Ordnance, now functioning at Wool-
wich, would be removed there. A sum of 40,0001.,
as part of an estimate of 585,0001. for new offices in
Downing-street, was voted, such sum to be applied,
until further consideration, to the purchase of land
and repairing old offices. Lord Palmerston said
that the present Foreign-office consisted of four old
houses, which were tumbling to pieces. The whole
estimate contained a sum for state Ministerial
dining-rooms, which produced many comments.