The Sun.
London, England, 1855-04-26 00:00:00

PUBLIC WORKS FOB the ortlitiary weekly
meeting of the society of Arts, held ye-tee-day (Wedne.-
day) evening, Mr. Robert Lowe, M.P., in the chair, the
paper read was " On Public Works fir India. especially
with reference to irrigeol...n and c,,trimun•cations," by Col
Cotton, late chief engineer, Madras. Toe following pro-
po,,itious give, in brief, the views entertained by the
colonel on this important subject :-1. That the greatest
possible mistake had been made in our managemeot of
India in neglecting to execute those works of irrigation
and communication which lay at the foundation of the
improvement of the people. 2. That nothing could be
more obvious than that in every district, the moment it
was taken possession of, a sufficient establishment and
expenditure should have been allowed-1, to keep in
repair the old native works ; 2, to construct new and
far more perfect, ones, worthy of our transit means
and knowledge. 2. That the improvements that
had of late years commenced in a few districts did
not at all represent the general state of things
throughout India, but that at this moment the great
mass of India was utterly unimproved and unpro-
vided with those works which were . essential to
all improvement. 4. That the construction of a few
hundred miles of high-speed railway would not in the
least meet the wants of lidia ; that every district ought
at once to be supplied with works of irrigation, and per-
vaded with an extensive system of communication of
cheap transit. 5. That to spend 10,0001. on a single
mile of communication, when the same time and money
could be expended in other ways, so as to produce from
10 to 100 times as much useful effect, was the greatest
mistake. 6. That nothing but canal or river communi-
cation could provide India with sufficiently cheap transit
for its long distances and the small value of its main ar-
ticles of transport. 7. That the grand point of all, as
respects communication, was to get any rough works
executed to a vast extent over the whole face of the
country in the least possible time. 8. That while the
value of water for irrigation was at least 11. sterling
for 6,000 cubic yards, it could be provided on a large
scale at '300,000 cubic yards for the same amount.
9. Tbat probably steam-boat canals could be worked
at one-eighth of the cost of working high-speed rail-
ways, and improved rivers also at one-sixth or one=
eighth of the latter. An animated discussion fol-
lowed the reading of the paper, in which the fol•
lowing gentlemen took part—Messrs. S. Gregson,
A. S. Ayrton, C. Nicholson, Colonel Sykes, F.R S., J.
Dickenson, jun., Brown, S. Sydney, the Chairman,
and Colonel Cotton.

Tat Nitiv LOAN BILL—A bill "For raising a Sum
of Money by way of Annuities," has been brought
in by the Chancellor of the Exchequer and Mr.
Wilson. The loan, as already known, is one for
16,000,000/ , and contributors are to be entitled to the
principal sum of 1001 in the Thre per Cent. Consols to
commence from the sth of January, 1855, and also to a
further annuity of 14s. 6d. for a term of 30 years, to com-
mence from the sth day of April, 1855. Contributors
who have made deposits of 10 per cent. with the Bank
of England may pay the remainder by intalinents, i.e.,
the further` sum of 151. per cent. on the 221 of May,
1855 ; 10/. per cent. on the 19th of June following, 15/.
per cent. en the 17th of July, 101. per cent. on the 21st
of August, 101. per cent. on the 18th of Sept,mber. 101.
on the 16th ot October, 101. on the 20th of November,
and the remaining 101 per cent. on the 18th of Decem-
ber, 1855. Guardians or trustees may sub- crihe the
money of infants, and such iefants will Ie COII•
trileitors within the- meaning of the acr. The annuity
of 31. per cent. per annum will be paid on the sth
of January and on the sth of July in each year,
and that of 14s. 6d. on the sth of April and the
10th of October in each year. After payment of the
deposit and ai y subsequent instalment, subscribers
way have a proportionate amount of stock placed in
their names in the Bank hooks, and may tran4-r the
same in the usual form. Contributors may anticipate
their payments, but no discount will be allowed thereon.
The first half-yearly dividend on the 31. per cent, an
unity will be due on the 25th of June, and that on all
sunis paid not later than the 25th ot June, and that on
the terminable annuity of 14s 6d. on the 10th of Oct.,
on all sums written in the books of the bank not later
than the 25th of September preceding. The annuities,
interest, and dividends are chargeable on and to be paid
out of the consolidated fund. A cashier and a-Tountarit-
general are to be appointed by the Bank, and the Treasury
is to order money to be issued to the cashier for the pay-
ment of annuities. Subscriptions paid in part, and not
completed, will be forfeited. The Bank is to be allowed
to retain 3001. out of every million of the lean for the
service and labour of management. The Three per Cent.
Annuities are to be added to the joint-stock of the Three
per Cent. Consols. A sum of 1,000,0001. will be yearly
paid out of the consolidated fund to the Commissioners
for the Reduction of the National Debt for the extinc-
tion of the loan, the first yearly payment to commence
12 months after the ratification of a definitive treaty of
peace with Russia. Persons counterfeiting receipts for
contributions will be treated as felons, and no fees to be
taken for receiving contributions on paying or transfer-
ing annuities under a penalty of 20/.
A DERELICT VESSEL.—The Letitia, of London, laden
with mahogany, supposed bound from Honduras to Lon-
don, was fallen in with en the 20th March in lat. 33 N.,
long. 68 W., abandoned, with topmasts carried away
above the cap, mad bulwarks and rails gone, stern frame
much shaken, and her decks blown up in several places,
by the Melbourne, Caroline, arrived in Mount's Bay,
which boarded her and took from her some rigging. It
is supposed the crew were some time in the tops., as
there were slime tents rigged and no eatables to lio
PREPAHATIONsi FOR THE RECEPTION OF UER MAJEcri:
TN FR.V.s:CE.,--A private c,,rl espondent, wr,tiog from
Havre, says a splendid state barge ail ived at that port,
in tow of a French war steamer, and which is iutended
for the use of her Britannic Majesty and the Prince Con-
sort on the Seine, on their anticipated visit to Paris.--
Ilymoutl4 Matt.