The Press.
London, England, 1855-02-17 00:00:00

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is applied to companies for Indian improve-
ments—a principle which, though specious at
first sight, is, iu reality, deeply injurious to the
extension, of public works in India.
The principle of guaranteeing a fixed in-
terest for the capital invested in such works
Was thought in the outset by many persons
necessary, and, indeed, perhaps it was so in
the present want of security for property in-
Vested beyond the range of the jurisdiction of
the Queen's Courts in India. But the true
course was to obtain a remedy for this want of
seearity which a combination of the moneyed
interests in this country might have speedily
effected ; whereas by the present plan no
'thought is taken for the improvement of Courts
of Justice in India. Shares are bought without
reference to the eventual success of the
schemes subscribed for, and solely on account
of the guaranteed interest. The execution of
the works is virtually left to Government,
with all its interminable delays, its habitual
mismanagement, its nepotism, its jobbery, and
corruption. Railways which have been nearly
seven years started have not yet advanced five
times that number of miles towards their com-
pletion, and at the present rate of progress
they will not reach their specified termini
before the middle of the next century. But
if railways do not progress, the fortunes of all
connected with the India-house are by all
accounts progressing rapidly. Valuable ap-
pointments connected with Indian railways
are at the disposal of the Directors in numbers,
and a judicious use of the early knowledge ob-
tained in the Directorial Cabinet as to what
works are to be guaranteed and the interest
that is to be guaranteed on them, enables, it
is said, their friends to anticipate the public,
and forms a fertile source of money-making
in the Share Market and on the Stock
Exchange.
The proposal of Mr. Baia= and his brother-
manufacturers at Manchester is, tha t in respect
of this project at least, relating to the naviga-
tion of the Godavery, no such course shall be
pursued. What he wants is, not a new engine
of jobbery and speculation, but the bona fide
clearing away of the obstructions to the navi-
gation of a river which traverses or touches
on some of the most valuable of the cotton-
fields of India from end to end. He proposes,
therefore, to follow the plain and obvious plan
for success in the undertaking : he proposes
to call itor no directorial guarantee and to per-
mit no directorial interference, but to conduct
the works entirely by private capital and under
private superintendence, asking no further
support firm the Government than may be
involved in those subsidiary powers accorded
always by the Legislatnre to well-directed
railway or canal schemes in the Unite 4
Kingdom.
While we are fully alive to the boldness of
this proceeding on the part of the Honourable
Member for Manchester, and, perhaps mori
clearly than he does, perceive the vastness o
the active and passive opposition which he
will meet with at the hands of the India house
and on the part of their officials in India, we
cannot but wish him the most entire success
in his experiment—a success which he cer-
tainly will merit. Mr. BRIGHT is not of our
way of thinking in respect to home politics.
though there is perhaps less divergence be-
tween us in respect to Indian politics than
there may seem; but, as we have over and
over again said, India is not the field for par
ties to waste their forces in contending on—it
is, on the contrary, one on which all should
join, hand to hand and shoulder to shoulder,
to remedy its enormous admitted evils, and
to open up its enormous admitted channels
for improvement, civilisation, and wealth. It
is not because Sir CHARLES WOOD is a Whig
that we have invariably opposed him, but be-
cause by his ignorance and incompetence as
an Indian Minister he is unconsciously
doing his utmost to ruin our Indian empire.
Nor is it because Sir JAMES How, is a
Peelite that we have always scouted the idea
of leaving the administration of the affairs
of that great and noble empire in his hands,
but because he has proved himself through-
out his career since his return from India
n' be a man reckless of the public interests
and regardful only of himself—one who cares