The Express.
London, England, 1867-04-03 00:00:00

RAILWAY DEBENTURES AND THE STATE.

If the security for the debenture debts of railway com-
panies is ades !nate, the Times does not see why the companies
should come to the State as Mr. Crawford proposed last
night. Money is not lent because the solvency of the com-
pany desiring to borrow is in doubt. Let the State become
the creditor and the pressure on the managers of railways
would be instantly lightened, their motives to practice
economy would be weakened, and whereas the margin
of profit is now insufficient to pay the interest due to
the private capitalist, it would soon sink down so as to
become insufficient to meet the claims of the public
creditor. Let it he understood that the treasury is the
last resort of embarrassed companies, and we shall be
handed over, tied and bound, to contractors and their
associates. Granting proper facilities, however, to the
persons interested in railway property to settle
their respective claims upon it, and to allow
them to realise their interest on railways, instead
of compelling them to abide as unwilling qualified
partners, is another question. In a word, we want a
machinery for winding up the affairs of railway companies
as other commercial associations are wound up. Except
Mr. Laing and Mr. Watkin, no one supported the proposi-
tion of Mr. Crawford, while almost every speaker ap-
proved the policy enunciated by the Vice-President of
the Board of Trade. The opinion of the house is, in fact,
almost ripe for legislation, and we may assume that at no
distant day the settlement of the affairs of railway com-
panies will be as simple as those of banking partnerships,
while the interference of the state in their management
will be diminished rather than increased.

COMPOUND HOUSEHOLDERS AND THE GOVERNMENT REFORM

BILL.

Al2OlllO misapprehension seems to have arisen with
regard to the exact position in which compound house-
holders would be placed under the government bill, the
Small Tenements Rating Act being left upon its present
footing, the Day hastens to point out that none of them
could be actually shut out from the franchise at the
discretion of any vestry in the kingdom. The act in ques-
tion enables vestries to throw certain difficulties in the
way of a man's getting the franchise by making him a com-
pound householder. But though it enables them to
make him one, it would not, under the government bill,
enable them to keep him one. Re could claim to pay
his own rates if he chose. The occupiers under 61. would
be in a worse position where the act was in force than
where it was not, because they would have to do some-
thing in order to acquire the franchise, where's the others
would have to do nothing. But that is the extent of the
grievance. It would probably keep a good many occupiers
off the register, and so far the expression is correct when
it is said that vestries would have it in their power to say
that such and such classes should or should not possess
the franchise. But only so far.

the Court.

WINDSOR CASTLE, APRIL 2.

The Queen, accompanied by Princess Christian,
drove out yesterday afternoon in a carriage and four,
attended by Lady Churchill.

Princess Louise and Prince Christian, attended by the
Hon. Emily Cathcart and Colonel Du Plat, went out
riding.

Her Majesty drove out this morning, accompanied by
Princess Christian.

Princess Louise walked in the grounds; Princess Beatrice
rode in the Home•park ; and Prince Leopold went out
walking, attended by Mr. Legg.
The Dean of Westminster and Lady Augusta Stanley
left the Castle this afternoon.

Mr. J. A. Vinter had the honour of submitting to her
Majesty and the Prince and Princess Christian his photo-
graph of Prince Christian, after Winterhalter.

The Prince of Wales, attended by Colonel Kingscote,
hunted with her Majesty's staghounds yesterday.
Captain Ellis has succeeded Lieutenant-colonel Keppel
as Equerry in Waiting to the Prince of Wales.
A deputation from Lancashire had an interview with
the Duke of Richmond at the office of the Bo►nl of Trade
on Monday afternoon, in support of the bill promoted by
the Mersey Docks and Harbour Board now before parlia-
ment.

Lord Alfred Churchill, the Hon. Ashley Ponsonby, and
General Craufurd, had an interview with Lord John
Manners at the office of her Majesty's Works, Whitehall-
place, yesterday.

The Earl and Counteaa of Spencer are enter-
t►ining at Althorp Hall, Northampton, the Duke and
Duchess of Manchester, the Marquis of Ailesbury, Maria
Marchioness of Ailesbury, the Earl and Countess of West-
moreland, Viscount Canterbury, Lord Suffield, Lady Sarah
Spencer, Hon. Admiral Sous, Mr. and Lady Augusta
Sturt, Mr. George Payne, Mr. Craven, Mr. H. Chaplin,
Mr. and Mrs. Sumner, &c.

A marriage is arranged between Lady Ida Dnff,
daughter of the Earl and Countess of Fife, and Mr. Elias
Hope, eon of the late Mr. Adrian Hope, and nephew of
Mr. Bamford and Lady Mildred Hope.
_...

The meeting of the Liberal party, which was to
have been summoned for to-morrow, has been postponed
till Friday, in order to avoid any interference with the
Budget, which Mr. Disraeli had already Axed for Thursday.
It is rumoured (says the (Awl) that the following
changes are to be made in the diplomatic services cone.
(pent on the resignation of Lord Cowley .—Lord Lyons to
be ambassador at Paris ; Mr. Elliot, from Florence, to be
promoted to Constantinople; Sir Augustus Paget, from
Lisbon, to be transferred to Florence ; Sir Charles Wyk.).
late her M►jesty's minister at Hanover, to be appointed in
the same capacity to Lisbon.

Mr. Tite, M.P. for Bath, has been elected by the
Council of the Royal Architectural Institute as their next
president. The other candidate put forward was Earl
Grosvenor, M.P.

The Small Arms Committee appointed to select
the new breech-loading rifle for the army held their first
meeting yesterday at Woolwich. Upwards of 80 breech-
loaders of different patterns have been submitted to them
for examination.

We read in the Standard :—" Lord Amherley
strengthened yesterday evening the favourable impression
be made upon the House of Commons last week. The
noble lord, whose manner often recalls his father, is not a
great orator, and will never become one ; but he speaks
lucidly and to the point, with perfect self•possession end
considerable readiness, but with becoming modesty ; and
his voice, although weak, is clear and distinct. His speech
was a success, but a meccas for the speaker rather than
for the cause he advocated."

Thu death is announced is Dr. James French,
C. 8., Inspector-General of Hospitals, which occurred on
Friday last, at his residence in Lanarkshire.
Tics PRINCE Or WALES IN THE HUNTING FtELI).
—Yesterday his Royal Highness the Prince of Wales had
a capital day with her Majesty's staghounds. His royal
highness went from town to Slough by the 11 o'clock morn-
ing ordinary train, attended by Lieut.-Colonel Keppel,
and was met there by Lord Colville, the noble master of
the royal pack, with whom the prince proceeded in a
shooting break to Beaconsfield the place appointed for the
turn out. Here a large field had assembled awaiting the
arrival of his royal highness. The deer, on being unsorted,
made across the country to Walton, leaving Charfont St.
Giles on the right, and away towards Rickmansworth,
thence to Watford, from the neighbourhood of which the
prince left the field and returned to town. This may be con-
sidered the longest and fastest run of the season. The
scent was good, and country in Ins boating order.