The Express.
London, England, 1847-02-05 00:00:00

welfare of Ireland other benefit:sof an equally practical the-
ratter. There were lands to be purchased: not less than
15,000 acres, supposing ten acres to he required fur each line
of railway emstructed. These 15,000 acres would vest not
less than 1,000,0001., a great part of which must be imme-
diately put at the &simnel of the landlords, thereby en-
abling them to afford at this important crisis addiuonel
employment to their labourers. (Hear, hear.) But he now
came to a part of the measure which was exceedingly impor-
tant—namely. its bearing upon the public revenue. It had
been nhispered about that his propoeal to mile eixteen
lion. et' money ou icon would disturb the money
market and knock down the funds. He (Lord George
Benti ncls) dno believe that liaising sixteen mile
limes, to be spent
over four years, at the rate of one
million for every three months, would hove the slightest
effete; and, if be wanted confirmation of tnis opinion, ho
could obtain it front hie bun. friend the member for West-
morelawl (Aldermen Thompson), who win • hank dire-one,
and who had ensured him that morning that such an appli-
cation of capital would not hove the least appreciable etlect
upon the money market. But there was a case in p int" in
favour of his argument. In 18.15 they had raised a sum of
15 millions to pay the slave compensation money. The con-
tract was made in Aueust. 183-3. The year previous, consols
averaged 89. The day before the loan woo contracted for
tiny were market at 906, and reduced three per ei nts. at
901. The contract wee taken at 891. Did the circumstance ef
negotiating the lean depresetheir pr.m? Far from i'. The funds
gradually rose, until, the year subsequent, cowsolsaveraeml9l.
He thought this was sufficient to prove that there ex-
ieted no reasonable ground for fear on this score. Lord Deem
had wisely said, that money was like muck, the more yea
spread it, the more it fructifies,” Send your money out of
the country, as was done during the war, to pay foreign ad-
diem and subsidize foreign states ; send it out, as was done,
in 1825 to work Santiago, Rio del Monte, cruda hunithill
other South' American mining projects ; send it out, as has
been done, to work Ohio cord., and to supply means far
states, which consider it consistent with the honour of their
nation to become public swindlers. (Hear, hear). Spend your
money in these ways and then you drawees the money markets,
cause • drain f r add upon the bank, depress the funds, and
ensure national distress. (Cheers.) But emu,' your money,
as happily has been done of lets years, under the auspices of
the right hon. gentleman, the lord mayor of York, ..is
projects of national improvement and internal utility,
and so far fro 11 depressant the money market you add to
its stability, enrich your country, and give employment
arid prosperity to your people. (Loud cheering.) But
whilst he was calling on his own country to lend 16 millions
of money to Ireland, he could not help observing that the
Chancel r of the Exchequer, when he Advanced a loan to
ho employed on public works. stood in • cliffs rent position
Worn the private capitalist. When they reflected on what
must be the immense consumption of bodies of railway
labourers, they could not help seeing that, as regarded re-
venue, the state must indirectly be a eeping partner in
every railway speculation. Mr. Pets, who had endeavoured
las a contractor to restrain 9,000 labourers in his employ on
railways to habit. of sobriety, was content to limit each man
to one gallon of strong beer a day. (A laugh.) So that,
settee. aside what a railway labourer would pay for addi-
tionarquantities of tea, spirits, and other exciseeble articles
fur the use of his family, it would be found that by drinking
only one gallon of beer a day, be paid 51. 4.. a year to the
governmentin the shape of malt-duty alone. (Hear.) If it was
fair to calculate that employment on railways would continue
in the same proportion after their formation as during their
construction, it would appear from these calculations that
there would be an increase of 612,0001. a year to the revenue,
an amou at which represented nearly 18,000,000 of money. Take
the employment subeequentto construction at half the amount,
and still they meet calculate an increase of revenue amount-
ing to 321,0001. a year; no small item in the consideration of
a Chancellor of the Exchequer. And litre let him consider
briefly what would be the employment on lines of railway
subsequent to their formation ? He was informed that not
less than 10 men a mile were required on railways fur the
management of the engines and the neceseary rep -sirs of the
lines. If to these were to be added all the men employed
about the trucks and stations, they would have a much
larger number per mile. But it was necessary also to pay
attention to the large number of persons incidentally em-
ployed, and whose labour was required on works
directly or indirectly connected with railway*. When they
recollected that on one line alone—the South Western—a new
town, he meant Kingston-upon-Itailway, had sprung up
entirely in consequence of the formation of that line, and
when they considered also how the docks and public works
at Southampton had been extended in consequence of its
opening, he did not think they would he far wrong in mei-
mating that the labour of sixty men per mile mieht be
permanently absorbed by railway improvements. (Hear.)
He therefore thought that the plan he had now proffered would I
at once give ample security for the money inveraed, create em-
ployment for thousands and thousands of fami ins otherwise
menaced with starvation, and introduce a large amount of
permanent and profitable capital into the country. (Hear,
hear.) As an illustration of the importan:e even here in
England of government aid tosehemcs of this nature, he would
mention that he had that day received a communication from
Mr. Mau, one of the earliest promoters of the Manchester
and Liverpool railway, informing him that hut far the timely
loan by government to that company of 100,0001., it was
eery doubtful whether that undertaking would ever hove
gone on. (Hear, hear.) It had been said very frequently
that former loans to Ireland had never been repaid : the
assertion manifested utter ignorance of facts. (Hear, hear.)
With the exception of the million loan for the
payment of tithes in Ireland, the non-return of which was
altogether attributable to religious prejudices, he would
affirm, upon the best authority, upon that of Lord Devon,
among others, that every loan he etefore made by the im-
perial treasury to Ireland had been repaid with usurious in-
terest. As another instance of the good faith observed by
the receivers of loans in Ireland, he would mention that of the
900,0001. which, upon the failure of the Hovel Agricultural
Bank of Ireland, appeared upon its books in the shape of
loans to the tenant farmers throughout the country, in sums
generally of about 20!., scarcely • chilling was lost. (Hear,
As to the repayment of the advances he con-'
templated, in the proposed measure, it had been his
intention originally that the interest commencing ion
mediately, the repayments should commence seven years
after the certificate of the particular railway being in opera-
tion,
and the subsequent inieslineuts be paid at intervals of
20 years; hut representations front monetary authorities
that this mode of repayment would create utter confusion in
the arrangement of dividends, had induced him to think
that it would be better to name some definite period at
which the whole sum should be paid, and he had at once
said 30 years. The noble lord, in conclusion, observed that
some persona speke of danger of outbreak in Ireland;
he himself had no such fears. (Hear, hear.) The con-
duct of the people of Ireland had been most admirable;
amid all their fearful misery they had displayed a pa-
tience and a fortitude which, under anything like siMLr
circumstances, would not be found among ourselves,
or among our continental neighbours. lie, Kassel,
regarded their conduct with equal amazement and admira-
tion lie had no fear of outbreak in Ireland ; fill their
bellies and clothe their hacks; give them good beef and good
mutton, and brad, and strong ale ; give them good broad-
cloth from Yorkshire, give their wives cottons from Man-
cheater, and ribbon front Coventry, fill their pockets wide
English gold ; cement the union with sympathy, sad
and kindness, and he would answer for it, with kii=
that the Irish would even show themselves conspicuous for
loyalty to their sovereign, and warm attachment and good
faith to their fellow eunjects. (Cheers.) The noble lord
*concluded with moving for leave to bring in a bill to promote
the employment of the people by the encouragement of
railways in Ireland.
Mr. HUDSON seconded the motion.
Lord J. RUSSELL had no hesitation in offering his
tribute to the patriotic feeling of his noble friend in bring-
ing forward dm motion; to the ability which be had dis-
played, both in framing his plan, and in explaining it to
the heuse—(cheers),—and to the zeal he had shown in
favour of the people of Ireland; and he cordially concurred
with him, also, in his opinion, that kindness end sympathy
exhibited towards that people would ever constitute the
best cement of union between the two countries. In paying
this tribute to his noble friend, he wished that his plan had
been such that the government could at once have admitted
and adopted it, in aid of the measures which they hid
brought forward for the benefit of Ireland ; he could
assure his noble friend, that he entirely believed in the
sincerity of his statement, that his plan was intended to
assist the government, and he trusted that his noble friend
would, on the other hand, as sincerely believe him, W hen he
declared that had he considered the measure expedient in
itself, no petty pique on his part that it had not originally
been proposed by the government would have prevented
him from giving it, on the part of that government, his
emettea. (Hear, hear) In point of fact, the matteere
besujelirward by his noble fnend, though not his actual
plea,lsed been for some time under the consideration of the
ent, in connection with their other projects for
sing Ireland, and removing the misery and
dagEtntion under which she was now so fearfully
wastbsg. In considering the matter on the present
eseeelon he would say but a few words as to the general fit-
, dwelt a plan as that suggested for the general state of
Ilia noble friend, the first commissioner of Woods
mil some years ago brought forward a plan with
seem* to railways which he then thought, and which
Main thought, was likely to be of essential benefit to Ire-
land. That measure proceeded on a totally different prin-
ciple from the plan now proposed. It contemplated railways
to be formed by government, and to be either directed or
under the control of government ; to pay four per cent.
to the shareholders; and to apply the surplus profits
either in the construction of other railways, or in the dimi-
nution of fares ; but as to government favouring particular
companies to the discouragement of others, he thought it an
altogether unadvisable departure from the business of go.
"'raiment. an undue interference with the application of
capital. The pr. sent proposition, however, was brought
forward, and all its merits rested on its application to the
existing distresses of Ireland. And it was in reference to
that distress the reassure must be regarded. Some
few months ago, the railway companies of Ire-
land met, and a deputation of them waited upon
the Lord Lieutenant with a representation which was
transmiued to London. It was to the effect that
the various railway acts passed during 1845 and 1848, requir-
ing 15 millions for their execution, the government should,
in the course of three yews, advance 6 millions' the various
companies advancing the other 10 millions. To this the
answer was, that the government stood in the pcei-
tion of having before them the expenditure of large
sums of money, partly by way of loan, partly as
grants from the imperial treesary—to alleviate the distress
Ireland. That, not having limitless wealth at their dis-
posal, they had to consider in what manner they could apply
these advances so as to relieve that distress which was meet
urgently pressing. Now, his noble friend could have no
difficulty in agreeing with him that what was most premissg
was the want of food, anti that thin more peculiarly exited
in the remoter and less industeal districts. For this very
num, the epplitetteh Mum*: in aid of railways would not