The Express.
London, England, 1855-05-05 00:00:00

IMPERIAL PARLIAMENT.

HOUSE OF LORDS.—FRIDAY, MAT
4.
The Loan CRANCILLOS took hie seat at five o'clock.
CLOSING OF CHURCHYARDS AND VAULTS IN
THE COUNTRY.
The Earl of SANDWICH renewed the goettlos which
he had put en a former day. relative to the peoceediegs at
Haatiugdon under the Belisle Act, and the correspondence
which had taken plies witl' the Home Secretary on the
subject. Ha observed that if the question was not settled
one sal or the other, it would be • source of constant ast-
nuance to the parties owning vaults.
The Duke of ARGYLL said the question of the noble
lord would be but answered by a very short statement of
what the law was. It was this: on the report of an is-
spotter daly sent down by the Home Secretary, duo notice
having been given to all parties interested that his report
had been sent to the Home Secretary, it was in the power of
the Privy Council, on the motion of the Home Secretary, to
slue say bariallrosed either wholly or in pert. The act
further gave to the Home Secretary a discretionary power to
reopen a burial pound wholly or in put; but that was not
an arbitrary power ; it could only be exercised on the Home
Secretary beteg satisfied that the re-opening would not be
Wariest to the public.
The Earl of MALMESBURY thought that • general
heist, was growing up in the provisoes against isterferenee
with interments. He approved of the bill recently passed,
and thought it a very proper reform; but it had not been
wisely carried out. What he complained of was this:
in °Quincy plum there was scarcely any necessity
for closing churchyards and vaults immediately,
leas, it had sometimes been done after • notice of a few hoots.
The Bishop of LONDON said the order is council itself
wee a notice that the graveyard woald be closed after • per-
tain time. He believed that the greatest grievances had
bees ihfieted is this metropolis by the precipitate closing
of graveyards; the evil was every day iscrewing, and the
should shortly take the epportusity of hinging the whole
subject before their lordships. Steps ought to be taken to
compel parishes where the churchyards were closed to pro-
vide free band grounds for the poor.
PRIVATE BUSINESS.
The billowier, bills were read a third time and passed :
Omen Gas Bill, Staleybridge Gem Bill, Chesterfield Water
and Oas Bill.
BUSINESS OF THE HOUSE.
Lord REDESDALB moved—" That Ode hoses will not
reed any bale secant time after Tuesday, the 24th of July,
=up bills of aid or supply, or nay bill ia relation to which
the Issue shall have resolved, behn the easend needing is
mend, that the circumstances whisk wader ligistatiss as
the subjest imir the mom ',reediest, are either el seek mast
Warne., mr as to reader the lessmiliste emir/err
tioa of the add"ssesseary." • Salm medaties bed
been •dosed het swim ; sad be believed it bed bed mate
slat is the pubis bosisam After thedey Used
last year, wen 22 bills had come cep hens the edam cease ;
in the pieselisi year the number of bib whish eine up
after dist des was 61. Of the 21 See did set emu
within the min, thirteen had hem limed, sad four were
not peeseedel with, in eomplimee MO the order. He ism-
aidsred that the regulation had washed well, end that It
would prove yet more beneficial is fetters yams It had
met with the satin appreval of the Speaker a the ether
bases.
Vimount CANNING eminerred is the resolution, sad it
was agreed to.
JURISDICTION OF THE STANNARY COURT
AMENDMENT BILL.
This bill was read a third time sad passed.
LOAN BILL.
This bill was read • third time.
Oa the question that it do pass,
Lord MONTEAGLE said that the principle upon which
the loan bad bees neor iated was ens to which the public
could not ban the slightest ground of objection ; on the
contrary, he believed that the lose had been wisely and
essaibly cleatracted, and that the terms were highly ulna-
tag nos to the country. A loan very similar in character
had been made by Lord Melbourne's government in order
to ea rry out their mesaure of slave emsasipation in 1836.
That was also a three per ant. loan, sad the biddings wen
is • Wabash's annuity. At that time also the funds
were witbia ss. per cent. of what they were now; and the
terms were also very nearly the Name. The loan of 1836
Defer galled in vermin, it wee referred, by a committee of
the of Cannot's. to one of the profoundest scientific
'ma el the day—Mr. Finlaisoo, and the judgment pro
nemusil upon it by Mr. Finlaison was, that no loan en
mesa bed ever been contracted on terms so satisfactory.
In 1816, there were several circumstances greatly in favour
of the public. At that time the country was at peace ; now
we were at war. In 1835, there was no income tax—now
there was one; and a tax of that description told with pe-
culiar force spa a long annuity. Finally, there was a
dimwit allowed in the former loan, and there was none in
the prewat case. The governmeat of 1836 had thus three
advantages over the government of the present day, and yet
the terms on which the preseat loan had been made were
very little higher than those which Mr. Finlaiaon had so
warmly euloeised. Surely there could not be • more authori-
tative proof that the greatest credit was due to his right hon.
friend the Chancellor of the Exchequer ? (Hear, bear.) It had
been argued that the fact of the loan being contracted
partly in three per cent. stock, and partly in sonaities, was
objectionable; but he would remind their lordships the
twelve of the most memorable loans of Mr. Pitt bad bees
of the some kind ; sod that this was the only manner M
which the principle of terminable aninitise could be canted
out. Nevertheless the bill contained • clause, though ig
was nor nue in the least degree affecting the principle of the
loan imif, in which he could not concur—he referred es
that providing for the repayment of the money by instal-
ments of a million per annum, when the war should have
been brcught to a cioncluiion. That was a recurrence to the
vicious priaciple of • sinking fund, which had been de-
counted by every authority during the last thirty year'.
Nay, it was even more objectionable than other sinking
funds had been, for it provided that the repayments should
commence immediately after the close of hostilities, whereas
everybody knew that the eat of a war was often a more
expensive time than the period of its actual duration.
Could anybody pretend to say that the ministers by whom
the war would be terminated would be men more to be
depended upon than the statesmen of the last 150 years?
And yet a can had never been known in which smogs-
meat, of this kind had been long attempted to be fulfilled.
The system was originally introduced in 1716, but Sir R.
Walpole detected the lolly of keeping up a sinking hind
with borrowed money. and put an end to it. In 1786 it
was again revived by Dr. Price, and adopted by Mr. Pitt,
who anticipated great results from the accumulation of
compound interest; but he (Lord Moateagle) would sot
trouble their lordships with calculation which had sad-
Sently puzzled their ancestors. The sinking fuad was kept
up till 1825, sad at that time it bad reached a very large
nominal amount, although the real benefit accruing from
it was very smell Index d. The government of that day
limited it to five millions a year, but it was soon found that
if there was not a surplus of five millions, the thing was as
absurd as ever. It was neat reduced to three millions, but
that was dealt with precisely as the larger sinking fund had
been ; and in 1828 it was determined that it should consist
only of the difference between the income and the ezpendi-
Sue. Bees that plan was departed from as much as its per
eseesson. It was the custom to rube soma of money on
deletion hikes& the surplus being applied to the Selig'
sp of them Ms, we thus virtually added to the ways
and MEN elf the neat year. Lord Grenville, who
had been the friend and colleague of Mr. Pitt, pub-
lished a pamphlet with the motto—. Growing old I
have laws* aiseli," and he illustrated that aphorism
by ably maim the khan et the prineiple he bad formerly
so stresses* selsitaised. It had boss said that this clause
woad brie se biding farce, but in point of fact it would
be just so Wales as any other of the sea relating to the
pus., dela He would not risk the bill by moving the
sahebs aas clause, but he regretted its introduction, se
bulug may ealealated to endanger the public credit. He
obi Iligeeted to Ames 9, which referred to a practice lately
ielseineed with regard to the payment of dividends. For-
m*. suit rases, was deposited is the Beak on quarter
dq en MGM inHee to pay ell the dividend.. even if the
whelp mew die ceded on that day. About a year
howeesros set veryansiitable iansiaties wee
a pies, simely, of eliding the Wheel mesa bas day
to day with so made as it was ealealated mall be astassary
to meet the demands likely se he mode. • MINIM pitiful
and trumpery seciatmv he meld set esseelm. (Hear.)
The Deice of ARGYLL said be malt set belt protesting
ageism the observances of the sehk had in efereace to
the mune takes by the late Chimes/ler a the Bectequer.
So far from that mum having bees an unworthy sad a
paltry course, he goaceived it was • mum whisk the Chan-
cellor of the Exchequer was bound le Wm. He feat that
the 'tables were paying interest es ildelemeien which wen'
lanceurely 'modest, an net only so bat these fictitious ba-
s
iateeed members of parliament and the noble lord
in use arguments as fallacious as the behnees themselves.
The law °Mean of the crown gave it as their opinion that
the course takes by the late Chou/41m of the Enbequer
was juetillable, and that it was ausediag to the spirit and
limestone of the set of partisan at.
Lord STANLEY of ALDERLEY said he was sure their
lordship sad the country would be gratified to hear that to
great an entliority as his noble friend (Lord Monteagle)
thought that the terms on which the loss was contracted
were so famarable. It was thought they could not mann
kegs a um as 18 millions by terminable anaultise, and
*anal- e ferelhat mode had been adopted that was miserly
maissme aAfter all, what was the difference
betimes a eland torealaable mashies ? A sink-
ing Melis order that the pressat genera-
tion might par a a portion of the capital, end • Ismael&
sessity dM- Me wee thing. The mime et the
Clemealor if the /*hews was *se Ma dar-
es,' between the pies el °mesh and 1061. Medd
he represented by termiegie ansultiimesd it ow
*UM* that the remeisieg sum amid be paid eft
•avea time, sad themilsee • ekes wes ismisi is the
missiariss the hem whim peeled shoe its INN a
ealhaassz
ser *mid be ca.
I le sus es Maim*
the ftwee of the Isabegate est to ma
the mania baelpees espeaditare eel Isom too elem.
altse all. if Meet wens a great swirpasy, it would be
is the pewee e/pedhmesevizzlidso rout tide deaes la the set ;
Mit be 'boogie II a peeper int parliament shield
epetr
e itselt Uwe Amid be kept is view, awl
be wok, as Ise se they>• eeeghupds *di, set
lessen and pat • hid d 4•14 apes
peseeder.
ValliseteallostY rio.te agreed with the gabb II" whe
lissmat a use. et t dub ft Pit'
debt *se he bees Wound is tine ea ,Mt he