Northern Times.
Liverpool, Merseyside, England, 1859-03-11 00:00:00

THE NOittliEkiNi TIMES, FRIDAY, MA:fteil i 1 1859

IMPERIAL PARLIAMENT.

HOUSE OF LORDS-THURSDAT,

FORM OF PRAYER.
The Occasional Form of Prayer Bill passed through

committee

MANOR COURTS (IRELAND) BILL

The Manor Courts (Ireland) Bill was read a second time

S INGAPORE

Lord Stanley of Alderley, in presenting a petition from
some merchants at Singapore, enquired whether any change
was contemplated in the government of that dependency.
The colony had already attained sufficient importance to
deserve a separate administration, instead of being con-
sidered as a mere appendage to that of India.

The Earl of Carnarvon said that some correspondence
was in progress between the Home Government and that
in Calcutta upon this question, but without as yet leading
to any final result.

Some discussion arose on the subject, in which remarks
were made by the Earls of Ellenborough and Derby, and

Earl Grey

GRAND JURIES

The Lord Chancellor called attention to the manner in
which charges were brought, and indictments preferred,

before the grand juries in the metropolitan districts. He
asserted that the grand jury system was utterly useless in
those districts where the magistracy presided so ably,

while its actions were in many respects injurious, as af-
fording opportunity for vexatious and malicious prosecu-
tions, or, in the reverse case, by frustrating the ends of
justice. He concluded by laying on the table a bill
abolishing grand juries in the districts of the Central
Criminal Court.

The bill, after some debate, was read a first time.

The house then adjourned at ten minutes to seven

HOUSE OF COMMONS—THURSDAY.
The Earl of March took the oaths and his seat for West

Sussex on his re-election

REFORM BILL

Mr. Miles gave notice, that in committee he should intro-
duce a clause retaining the rights of freeholders in cities and

boroughs to vote for counties,

Lord John Russell gave notice, that on the second read-
ing he should move the following resolution :—" That this
House is of opinion that it, is neither just nor politic to inter-
fere in the manner proposed by this bill with the freehold
franchise, as hitherto exercised in counties in England and
Wales, and that no re-adjustment of the franchise will
satisfy this House or the country, which does not provide
for a greater extension of the sufferage in cities and
boroughs than is contemplated in the present measure."
The Chancellor of the Exchequer observed that one of the
principles of the measure which he had proposed was that
no place and no person should be disfranchised. Previous to
the second reading, he would place on the table certain clauses,
which he should move in committee, which he trusted
would reconcile the main principle of the measure, which
was the identity of the suffrage between county and
borough, with the recognised rights of those freeholders
whose freeholds were within the limits at present of par-
liamentary boroughs.
Mr. Wyld gave notice of an addition to the resolution
of Lord John Russell, to the effect that votes for members
of parliament should in all cases be taken by ballot.

Replying to Mr. Bowyer,
The Chancellor of the Exchequer said that the govern-
ment would declare their intentions on the landlord and
tenant subject before Easter.

FUNDING OF EXCHEQUER BILLS.

Mr. llankey called the attention of the house to the late
funding of Exchequer Bills, and moved that in future no
funding of Exchequer Bills, held by the commissioners of
savings' banks, be made without the special authority of an
act of parliament. He dwelt at some length on the increase
which was then made to the National Debt, and the abuses
likely to arise, if they could continue to be done without
the sanction of the legislature.
Sir S. Northcote observed that the government, as
trustee for the savings' banks, ran much risk, which could
only be balanced by the control which it possessed over the
funds of those banks, and which it was only justice to the
public to use to its advantage. He explained the circum-
stances of the transaction referred to, which was altogether
exceptional. The best and most economical mode of bor-
rowing, was by the funding of Exchequer Bills, a proceed-
ing which made no permanent addition to the debt of the
country.

Sir H. Willoughby contended that the powers of the
Exchequer in this respect ought to be further limited by
act of parliament.
Sir G. C. Lewis objected to the form of the motion, as
the government exercised its present powers under act of
parliament, which a resolution would not repeal, and would
only fetter the hands of the Exchequer. The proper course
would be to bring in a bill repealing the act under which
the government held its authority to fund Exchequer bills
at its discretion. Referring to the transaction in question,
he saw no advantage in it, either to the exchequer or savings'
banks, and he wished to know the reason for it. .A t the same
time he must remark th :t Exchequer bills were just as much
a part of the national debt as consols, and this funding made
no real addition to the permanent burthens of the country.
Mr. T. Baring observed, that the motion, as a mere
resolution, would not carry weight enough ; a direct act
would be necessary. He objected to the unrestricted power
now possessed by the Government of turning unfunded into
funded debt; that power might bo used so as to damage
literally the public credit.
Mr. Gladstone said that no resolution ought to be passed
by the House without further investigation. Without
doubt the powers of the Chancellor of the Exchequer were
too great, and required to be reviewed and limited. The
power especially of funding deficiency bills had been used
to the great detriment of the public interest. As to the
question of the savings' banks, the Government, while it was
responsible to the depositors, had the right, so far as they
were concerned, to make any use of the money it thought
proper. He suggested that all operations of funding
Exchequer bills should be submitted to a committee of that
House, which would act as a kind of parliamentary audit.
Mr. W. Williams urged the repeal of the act empowering
the Chancellor of the Exchequer to fund Exchequer bills on
his own authority, an act which had done already much

mischief.
Mr. Henley said that the dealings of the Exchequer with
the funds of the Savings' Banks did not, it was true, affect
the principal of the depositors, but it did affect the interest
they could obtain.
The Chancellor of the Exchequer said that the real
question before the House was an implied censure on him-
self for his conduct in the operation referred to. The
reason of that operation was in part a complaint made last
autumn by the Commissioners of the Savings' Banks, that
they were incurring loss by the securities which they held,
but the most cogent reason was, the large amount of
Exchequer Bills then outstanding in the hands of the
Commissioners. That amount, which both in bills and
bonds was but a little above 3 millions in 1854, had risen
last year to nearly 8 millions. This was a state of things
dangerous and unsatisfactory, both to the Exchequer and
the savings' banks. It was, therefore, necessary, in the
interest of all parties, to make a change, so he must oppose
the motion, while he admitted that the state of our un-
-1 funded debt was not satisfactory, and required further

reduction.
Mr. Wilson could not see any advantage in the transac-
tion while it had the disadvantage of removing a large sum
of money from the control of the Exchequer and the cognis-

ance of parliament.
Mr. Hankey, after a brief reply, withdrew his motion,

MILITARY AFFAIRS.
Captain Vivian moved for a select committee to inquire
into the effects of the alterations in military organisation
regarding the War-office and :Board of Ordnance, which,
were raadg
in the yeAr 1855, and 49, to inquire wiaetim: