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freedom to rainy of hnt slaves. The Huron able Member pr/
ceeded to comment on several clauses of the Bill. to which he

jetted, and oppofteil the second reading of the Bill, principally od
the ground of en apprehension of the estates of the present resident
proprietors being tranttkrred to this company in the character of
mortgagees. He Cad mostly objected to the extension of privilqe*
or peculiar favour to joint at, ek corlpiusies, and even carried ate
principle to far at to sithold assiscdurt from the banks of Inlaid,
at a period of nigent distress.
Mr. BUXTON thought the tendency of the present BM to he
most detrimental td the vie/re the House entertained of the i
meet of the slave poPtdation. It would render the preemie :71=
amelioration and final manumission more dun and distant—lt would
destroy the relrion that now subsisted of mama and servilet, by
substituting in the place *resident proprietors a eon-reeideet mei
potation, whose feelings Would belted alive to the situatioe et the
slaw, and whose anxiety to mitigate their !vanish would be Ms
earnest and acute than thaw under whose daily they
wen. Walton, further entering into de:ail, but agreeing In die
objections that had been made. and for various other reasons at
I will be would at present withhold the statement, be would oppose
the wand reading of the Bill.
Mr. W. HORTON did not consider it fair to Mimed the rend
Bin with the question of manumission ; they were altogether
tinct. Whatever effect the Bill might have on that queetkee wee
cal, elated to favour and promote it. The present Bill petain=l:
an UAW: but a transter of ; for instance, many
now performed the same business which this Company propassd to
do. This capital 'UPI then but a transfer from privets uall
to the ntanagement of a public body. It would biota.,
proprietots, in the ease of ineumbranees, to deal lekb ea* a 'way
than with individuals. It should be regarded, thasellate, *het
as a benefit than looked upon with jealousy. Awing lOW eel-,
vantage' which the Bill held out, was that of triengelag *sa-
ne y for the raising of buildings sad public iteparesesenta.
Mt- rttkii rilailtiltairEe &Petal callowiredleas Ha
was aratious to oppose antl-he hough teassas turd
by those who supportt it were nett entitled 10 Tee
very cif :et of the measure was, to *heed the interest to West In:
dia property, and thtis to perpetuate that system already too ettett-
sive. l'he diffiruity of prevailing with tie French to abolteb
slavery wax, in a great degree, atniimitable to the universality with
which property (iikkly to be injured da they imagined by putting
lan end to thin traffic) was distributed. He believed the system to
be altogether bail, and should 31Tose chi lotion.
The question from the Chair teat tl put,—" That the order of
the day for the second reading of the Wett India Company Bill be
now tead.'i
31r. MANNINO stated, that tinder this Bill there was no
power given to the West India Merchants collectively, that they
had not before in their caparity as individuals.
Mr. SYKES observed, that he was anxious to take that appal%
tunny Of remarking upon what had fake from the President of
the Board of Trade, in reply to a miestioa which fell from hint.
In defence of the Bill then beliire the Haase the Bight Hon. Gen-
tleman had stated, that the Incorporated Company proposed wan
not competent for general purposes, but for the purpose of trans-
ferring securities. Now he ( Mr. Sykes) denied that; and with
these contrary mentions the House would do well to look to the
Bill itself, and they *odd see, beyond doubt that it contained
within it a power of general bartering. He should move, sa an
amendment, that the Bill be read this day six months.
Mr. HUSK ISSON said, in expltmatlon, that be was not going
to re-debate the measure, but he had no objection that Hon. Gen-
tlemen should look to the Rill. and they would find that the clause
upon which the lion. Member's opinion seemed to be founded, re-
ferred to tales and commissions.
31r. W. SMYTH thought that the Bill bore the interpretation
given to it by the Hon. 31e111J'..r for Hull.
Mr. P. MOORE remarked. that in this case, as in all Joint
Stock Companies, there would be a liability proportioned to anti
limited by the advance.
Strangers were then ordered to withdraw, and the House divided.
The numbers wcfe—
For the Amendment. 30 I Against it, 1021 Majority, 72.
The Bill was then read a second time.
on our re-admission to the gallery, we found Mr. Secretary
CANNING on hit legs, adrtrting to the inconrenience that must
ensue front presenting petitions of a private nature at so late an
hour.
Upon this intimation, Sir E. KNATCHBULL consented to
withdraw a petition which he had just risen to present.
ASSESSED TAXES.

Lord EIOT II A3l presented a petition, very numerously signed
by the inhabitant householders of I.ewiinster. praying fin a repeal
of the Assessed Taxes.
31r. J A HVIS prevented a similar petition from the inhabitants
of Salisbury, signed at a public meeting by the Sheriff, on behalf
of the petitioners.--Ordered to be printed.
31r. HUME suggested the propriety of putting of until a future
night the presetting of these petitions. Unquestiouably the incom.
venience was, as it had been stated by the Right lion. Secvetorv,
very great, and from a conviction of it he should abstain from pre.
seating 'ix petitions similar to the last. (A laugh.)
The SPE.IKER said, if ahy Hoe. lientlennus has to submit a
motion to the House, he will use his own discretion now in select-
ing the time fur that purpose.
31r. MAISERLY then rose, and was warmly cheered at corn-
tnencisg—The lion. Member said, that in pursuance of the notice
he had given som.: time since, hr Appeared there to make his pro-
mised motion and although no man was more sensible of the situ-
ation in which he stead, yet he felt so satisfied of the purity of his
own purpose, that whatever might be justly objected to his incom.
petence, no imputation of unworthy motive could attach to his con-
duct in the selection of this subject, so deeply as it deserved the
consideration of that House. and so closely as it came home to the
feelings of the country. He thought it right to commence with this
declaration, that however interested the public generally felt in this
question, unless he was quite convinced that it Iru the strict duty
of the responsible Minister to accede to the wishes of the people,
he would not, from any love of idle popularity, have undertaken
the exposition which he proposed submitting to the House. He meant
to treat the question in the largest possible way. lie should in the
tint instance look at the finance statements of the Right Hon. Gent.
the C'hatieellor of the Exchequer. Then he should submit to the
House his view of the Sinking Fund; and, thirdly, he should show
the inexpediency of continuing on in this species of taxation. In
pursuing this division.of his argument, he should have to reply to
the statedients of the Right Honourable the Chancellor of the Ex.
chequef. According to his statement of the revenue and expendi.
ture for the next tour years, no repeal of taxation could reasonably
be expected before the year 18211. Indeed with this admission he
was willing to begin—that if the Right Honourable Uentlernaii
was correct in his financial arrangements, it was impossible to ex-
pect any of taxation before that time. Therefore the House
would see time necessity of attending to the arguments he would
have to put forward to-night. lie would nut occupy the time of
the House by going into any detailed and connected statement, in
point of mere order, of the views of the Right Honourable Uentle-
maa, but he should confine himself at present to merely stating the
views of the Right llonourable Gentleman, as they were expound-
ed by himself.
In 1121
1824
1825
1827

. - - . Z 1.710.955
- . . - • - 1,052. I to;
. . - - - 372.344;
. . - . 477.341;
. . . . - 512,348

Leaving a total surplus at the erd of the four years,
in 1817, amour.ting in the whole to . £4.1:15,009
Now, the Hight Honourable Gentleman had not stated in that
account all the increase that had, since that speech was delivered,
been discovered—the savings from the three and a-half per cents.
a saving of 373,0441., and that of the interest on Exchequer bill.,
which was reduced from twopence to three halfpence per day, which
he (Mr. Moberly) would estimate at 700,0001. for the tour years.
The statement then would stand thus :—For the tour years,
over and above the expendieure, but without reference to
the Sinking Fund, there would be a balance of 1,075,0001
He would now crane to the staiement of the sinking fund. This
was admitted to be for the last four yenta 3,688,0001.; to this was to
be added the sum of 700.0040. received from the sale of building*
from the Commisaioners of Public Works, and the result of these
calculations would be a surplus of 26,315,041. in the course of four
years ; and from this balance in favour of the public the sum of
5,010,001 W. was to be appropriated to the reduction of the national
flan. This was called the sinking fund. The operation of this
fund was, however, to be reduced by the diminution of taxes upon
other articles--
On Rum of - - - latt.ooo/.
On Hereof . . - 100,0001.
(in Silk of - - - 100 0001.
On Wool of - - - 160.0001.
These reductions would ainourt, with ethers which he would not
enumerate, to the sum of 3,317,0111. There was certainly a boos
offered to the House and the country, for which he was as grans-
ful as any man; he meant the repeal upon the article e
silk. This amounted to the sum of 600.0001. ribs he consider. f
to be en act of justice. It was but a fair act of remuneration to tl, e
posons who suffered m. loss us consequence of the repeal by having
a stock on hand. He thought this measure was the result of sou, .4
principles of legislation ; and no question discussed had, in hr
opinion, been looked at with more attention or debated with me e
ability; he trusted the Ministers would, in spite of any die' -
collies that might be thrown in their wig, go on. After a redo:loos
upon the surplus of 2.6,000,00611. of 1,211.41110., there would be I:i
without the appropriation of the Sinking Fund of 5,000,0040. a
' balance in favour of the public of nearly twenty-two millions; ai. t
his object wadi be now to call upon the House foe a repeal of di,
Sinking Fund altogether,and get rid of taxation to its annual ammo, -
The Sinking Fund for the four years was 5,336.03 M., which, divider.
by four, would give the annual reduction of about 1334001. I s
his consideration of these subjects, he fidlowed the statements ofrs -
Right lion. the t:hancellor of the Exchequer. He was convince.!
these statements were not overstated. The Hight Hon. Gentles,'
had acted as he conceived in justice he out..ist. Nothing snub! ^1
more injurious to the public than an over-statement upon such .4.
subject. Such a proceeding would only have the effect of deceic o:4
theta. Ile lug therefore convinml that the balance for the neat totr
years would 0. 4,533,000/ . he would state to the Hasse an opii-op
upon which he had himself no doubt, that if the Sinking Fund sea..
discontinued altogether, the consequences would be much inoso
beneficial to Cu: cea:Ary. Foe his part he would call on much obi=