The Sun.
London, England, 1865-01-31 00:00:00

THE SUN, LONDON, TUESDAY EVENING, JANUARY 31, 1865.

g EMEMBER! WE WAIT SUPPER
%) FOR YOU, after the Pantomime, at E VANS'. Fail

by the company. There were seine short connecting lines
at Croydon and Norwood required, and also with the South
London line, and be believed that was all ; but there might
be some schemes injurious to the interests of the company
that would require attention. From what they had suffered
last year and the year before in Parliament, he thought
that, in justice to the company, they ought to be free from
those contests in future.

not!

ENAHA.N'S LL WHISKY v. COGNAC
ll
BRANDY. - -

'lll7is celebrated Old IRISH WHISKY rivals the finest
N'RIiNCII BRANDY,
It 13 Pure, Mild, Mellow, Delicious, and very Wholesome.

Sold in Bottles, 3s. Bd.,'at the Retail Houses in London ; by
the Agents in the principal towns to England; or wholesale

8, GREAT WINDMILL-STREET, LONDON, W.
Observe the Red Seal, rink Label, and Cork branded
"Kinahan's LL Whisky."

MO PERSONS SEEKING LAND ED
ESTATES, TOWN AND COUNTRY RE 3IDENCES,
ttE E HOLD AND LEASEHOL DINVESTMAN TS, AND
PROPER TIES GENERALLY- _ _ .

- - _
To BE HAD GRATIS, at the principal Railway Bookstalls
throughout the kingdom, or at the Auction and Estate Offices,
No. 67, Chancery-lane, London, Messrs. E. and IL Lumley's
"FREE PROPERTY REGISTER," containing a varied selection
of landed and house properties now in the market, from
the nobleman's mansion, with its manorial domain, to the
cottage with its few acres.
OWNERS OFRROPERTIES wishing to Sell or Let can em-
brace the ()ppm unity that the medium of Able Register
affords, by sending the particulars of their properties to the
Estate Offices, 67, Chancery-lane, London, as the Messrs.
Lumley can in most cases introduce immediate customers
where the property is of an eligible chant, ter, thereby avoid-
ing the disadvantages of delay and its attendant incon-
feniences.
THERE IS NO CHARGE incurred, unless a tenant or pur-
chaser is introduced through Messrs. Lumley's Agency,
and then only the usual moderate commission.
Auction and Land Offices, 67, Chancery-lane, London.

;DDING,

Mr. J. SCOTT, deputy-chairman, seconded the motion for
the adoption of the report.
Mr. COHEN said he thoug,ht tl.q state of their revenue
was very satisfactory, considering the great reduction that
had been made in their fares. It was 'also gratifying that
they were able to pay 3 per cent. dividend for the past half
year. There were, however, items in the accounts which
required attention ; they had lost £2,600 on coals, they
had also lost in the course of four years £87,000 in mis-
cellaneous expenses and for compensation, which he hoped
in future years would not occur, and that the money
would go to the shareholders. The locomotive expenses
had been increased by £14,000. He took Herapath,' s Journal
for his guide, and he found there was only an increase of
five or six:miles in the length of their lines as compared
with last week. Yet there were large itenis of increase in
their expenditure. The cost of working the goods traffic
was £5,000 more than in the corresponding period. The
gross receipts of the goods and cattle traffic were £226,000
for last year, and the cost of working £64,000. The in-
crease in the goods traffic was £12;000, and the additional
cost of working it was about 40 per cent. He found on
looking back to their accounts that the consumption of

ii,
(JO!.
10311,
scale :

A Six-roomed Parsonag. £74 3 0
An Eight-roomed ditto
A Ten-ronmed ditto
A Twelve-roomed ditto 191 If 0 •
Together with a Price List of purified Bedding., and a mass
of valuable informationto all requiring houseli3ld furniture,
"arpets, or bedding. References kindly permitted to Clergy-
men and gentlemen in or near Great,Malvern, Southampton,
Chichester, Bury, Ely, Preston, Grimsby, ityde, Plymouth,
Wells, Oxford, Brighton, Gainshorough, Margate. Kidder-
minster, Wellington, Croydon. Cambridge, Staines, Dorldng,
St. Alban's, Worcester, Ipswich, Peterborough, St. David's,
Wrexham, and above 500 other places in all parts of Great
6ritg. fa.
COBBETT and CO.; %anvil louse Furnishers, Deptford-
bridge, London, S.E.

THE EASTERN BENGAL JUTE
MANUFACTURING COMPANY (Limited).
NOTICE IS 13E11E13 I' GIVEN, that at a Meeting of this
Company, held this day; a DIVIDEND was declared to 31st
,-ultimo. at the rate of 10 per cent. per annum, payable on and
after the 10th instant.
By or, .7er, •
A. FORBES, Secretary.

THE AGRA " and MASTER MAN'S BANK
(Limited.)
NO ricE.—Holders of SCRIP CERTIFICATES of the
new (or £5O) shares, issued under resolution of the General
fleeting, held on the 21st of Rlay,.and in terms of the Bank's
Circular Letter of the 25th of May, 1864, are required to de-
posit them at the Bak preparatory to issue of definitive cer-
tificates for the sam
By oiler of the Beard,of Diree!oril,
M. BALFOUR, General Manager.
Lombard-street,
January, 2865.

Niobolas-lan
• Y London, 25t,

Railway and other Companies.

LONDON, B,RIGHT ON, AND• SOUTH COAST.
The lialf-yearlGl general meeting of this company. was
1:1 held yesterday. a 'the International Hotel, London-bridge ;
Mr. L. Schustig, , he chairman, presided.
Mr. Slight; Ili secretary, litiving read the notice con-
Ironing the 'neer , the report was taken as read.
The CHAIRmAx' aid, in moving the adoption of the re-
port, that he woul be aS, 'brief as possible in 'the observa-
tions he had to . They would.find an increase in the
. _ _

4umbe) fignres_with a view - -tneir expense:
With: tho§p.pfetilor companies. Elie costiof the coal should
he 14s. per toti. instead of 17s. • per ton. But one of the
principal "ehargesagainst the correctness of the accounts
was thut th&directors had only charged the revenue with.
£41;000 for the interest during the half-year on the 41. per
cent. preference stock, instead of £47,000, according to his
computation. •
The CH4IR:I4AN said the interest alluded.to was charged
correctly in.the accounts. The capital was during that
period paid up by instalme* and ogr. Cohen made his
calculations on the total amount paid 4 at the -end of the
half7yeant. : Tlio price of some of the coal delivered was 145.,
per.ton;.but the coat of taking it to the 'Brighton and other
stations ,added 3s, per ton, and,made it 17s per, ton: It Was
impossible at the meeting totgo irdia=tlH the figures, but
they could be Satisfacitorily explained. at the office. The
increase in theoolouinption of coke and coal per mile had
arisen partlyA(*li* increa§e in the nninber of earriages.
In-1853 there Were probably 10 or 12 czlitiages in each train,
.vhich had hemltOireased to 28 or 30, carriagesin 1863. If
the'object was tg:t*ow doubt on the correctness of4the ac
countS,the Aarettopirs could appointtWo`or three jade-
pendeni geiiitemp4 to..examinc thdth in‘ addition to the
auditors. :., 4-
mr,Nph.pi RAjikought Ar.-Cohen only, wanted some
explanationi!s,al4*not inid;dlo Make any charge against
the diibctors, as<4.ootkicOrrect#:es.s. of the accounts. Ire be,
lieved.rth
*-1440the fog of the company,
had endeavoured44close capital, of the company at
.E 7,200, r • 735,
and it the
capita! tad

be car

enorm,

Cent.,

amount of interest .
venue account. This,
lines to the watering-p,
latter was not quite, foi
small, as it-did not reach
Newhaven to Seaford wa ~-fheNewhaven
branch, and was rathex& 44, two ',miles and, a
Mogul, wra 4 R I Tho
opening of those brana,e6l -Dt*:Tetl e. in a' very favour-
able return of revenue. lie mentioned this now because
they would have a much 'Yager amount to meet for lines
that would come into operation, and which ho hoped
would be open for traffic before the end of the pre-
sent year. He alluded principally to the South London
Railway, now in course of construction, which would run
from the new station at London-bridge over the widening
of the Greenwich viaduct, nearly to New-cross, and then
would turn off to the right by Peckham-rye, forming a
semi-circle in that part of the great metropolis, and thus
connecting their station at London-bridge with their Vic-
toria station at Pimlico. They had often expressed an ex-
pectation that this line would be remunerative to the com-
pany when it came into operation, and the more they saw
of metropolitan extensions the more they were satisfied with
the prospects of that undertaking. When he mentioned
that its cost would be only about 1-10th that of other me-
tropolitan extensions, for where other companies had spent
a million they would spend only £lOO,OOO, it was clear that
the result of the traffic would n.ot be less favourable to
them on that account. .The result would be that in a very
short period after the opening of this line the excess of re-
venue would amply compensate them for the charge of in-
terest on the capital laid out on that undertaking. He
thought that was all he had to state with respect to the
capital account, except that during the very heavy rate of
interest that prevailed they had not taken up money at a
higher rate than 4- per cent., and that only to a very mo-
derate amount. As regarded the revenue, it afforded him
great pleasure to tell them of an increase in the receipts
over the preceding year. They had 105 stations on the rail-
ways composing their system, and on looking to the returns
of every station he found that at every one of those stations
there was an increase, with some few exceptions. There
was one new station opened at the Clapham Junction within
half a mile of another at Wandsworth, but the returns of
the two taken together showed a considerable increase over
the corresponding period. They had superseded two sta-

_ .
capital coming to the charge of • re-
was from the opening of the short
Seaford andlejlognor. The
'miles in length ; the cost was
1,000 per mile.
conti

petted

:were £-

Lrease
;torstiV 111.
Ltal to
£3 type
iu''

1848

an increase

tions in another place by a new station between them,
which was more convenient for the traffic of the district. If
interesting to them he Could give a great many particulars
with regard to traffic at various:stations. The traffic between
London and Brighton had increased somewhat, but not in
proportion to the increase on other parts of their system.
It would probably surprise them that, although they were
generally called the Brighton Company, their chief traffic
was not to and from Brighton. , The total traffic receipts
between London and Brighton and Brighton and London
formed only about one-fifth of the whole. He found from
returns in his possession that the traffic between London
and Brighton last year amounted to £200,676, while the
total traffic on the whole of their lines amounted to
£1,048,000, being more than five times the traffic to and from
London and Brighton. The total increase of traffic last year
as compared with 1863 was £48,000, of which the Brighton
portion was not in proportion to the rest. It must be satisfac-
tory to the proprietors that their revenue was derived from
so many sources, and that the increase in the traffic was not
confined to a few stations, but spread over the 105 stations.
The revenue of the two new lines lately opened was very
satisfactory ; that to Seaford produced £2,275 over a line
two and ahalf miles in length. This was not so much upon
the line itself as in booking from it to all other stations.
For instance, the booking over it to Brighton amounted to
£341, to Lewes to £289, to Newhaven to £133, to another
place £319, and to London £1,177. Bognor, he believed,
was a very nice watering-place, and the traffic was very
satisfactory. The total traffic to and from Bognor during
the half-year amounted to £2,594. This included booking
to and from all other stations. The cost of this line was
about £8,500 por mile. He thought they would agree with
him that such branches as these were not. detrimental to
the main line, but, on the contrary, were very advantage-
ous to it. For instance, the general statements in the traffic
table of the railway papers showed an additional length of
five or six miles in the distance travelled or length of line
open for traffic as compared with last year, bat they could
not take into account the cost of the extra length opened,
as to whether it produced much or little. Two miles in

length of additional line might produce £2,000 a week,
antl cost £4,000,000, so that those tables did not show
the real sth4 of things. The increase in the

of 123

£147,

cent.

1848 wee

of 205 per

,308, and in

184,
divide;

doubt

raised tiiitir
io -reascin to

other half

per cell ..,' • !
~. The 4: gtai was the
result I one the best
they ca's't i'e . tinstan, had stood still
long en);,,, ,t.ri ' : interests of
n. ,uqcnni, rtt,.i4l...da.akiithi ..144.21311.,...thAu hail done.
i Resole 'ons were unanin,,Aly passed adopting the 're-
port ; del aring.a dividend at the late, of 3 per cont. for the
past lia,, year on the original stock and ordinary shares of

the company, payable on Feb. 13 ; authorising the con-
version of the ordinary .E 5 shares into ordinary stock ; and
also the paid-up portion of the 41 per cent. preference
shares into preference stock.

The retiring directors, Mr. C. Lushington, Mr. J. Nix,
and Mr. L. Schuster were re-elected, and also Mr. J. C.
Fitzmaurice, the retiring auditor.
The meeting was then made special, and formal resolu-

tions were passed authorising the directors to create addi-
tional capital by the issue of 5 per cent. preference shares
and ordinary shares at the option of the subscribing share-
holders. Also to raise capital in respect thereof on mortgage
bonds or debenture stock. The agreement with the Crystal
Palace Company was approved; and the transfer to the com-
pany of the East Grinstead Railway for £50,000 in 4 per
cent. preference shares, and the adoption of the deben-
ture debt of £lO,OOO was agreed to.
A vote of thanks to the chairman and directors concluded
the proceedings.

goods traffic Wa.:',..717,000 out of the total increase of
£48,000 over that of the year 1863. Now, if the proprietors
only considered tl at the fares and rates had been reduced
by nearly 20 per cent. for passengers and goods over their
line, the result of their working must be looked upon as
very gratifying. On two former occasions he had ventured
to express an opinion that the reduced rates of charge might
have. the effect of reducing their dividends for a compara-
tively short time, but that the ultimate effect would be to
increase the receipts, in a similar manner to the effect of a
reduction in the taxation of the country resulting in an in-
creased revenue. He hoped and expected that their revenue
would continue to increase, and thus enable them not only
to gain their former position, but to recover what they had
lost by the reduction in fares and rates. (Hear.) With re-
gard to the approaching Parliamentary session, he hoped
they would have very little to do with it. They proposed
to ask for powers to fully carry out the scheme of last ses-
sion for a line from Hailsham to Hastings and St. Leonaids
—a part of which was rejected by the committee, because
the landowners had shown that a better line could be ob-
i Wined brought that part el tilt) di§trict Oulu thotsropced

Manchester Chamber of Commerce.

PRICE 4d.
STAMPED sd.

duties on the industry of the very people by whose
distress India had been so largely benefitted. (Ap-
plause.) Upon an occasion like this he (the presi-
dent) might remark upon the increased successwhich
had attended the free-trade movement throughout

The annual meeting of the chamber was held yes-
terday ; Mr. Henry Ashworth, the President, in the
chair.

Great Britain. The trade of our country 22 years
ago was represented by 150 millions sterling per
annum—it had now become 450 millions.
Mr. W. FLEMING, the secretary, read a long re.
port of the proceedings of the directors during the
The records of this chamberavould one disclose
past year, the more important of which have been
from time to time noticed in these columns as they lause.)
The PRESIDENT, in moving the adoption of the re-
tookplace.
ing about a change so important.. (Appianle.) Al-
what part had been taken by.. its directorsebrin,i-
port, remarked upon the forbearance and dirittitin though there inil,lit not be. lunch left to accomplish
with which the working people of the cotton Is- as regardS impediments in our own country,- there
tricts had endured the privations caused by the was a great deal to be done, in which this chamber
American war. The duration. of that strife seemed
as interminable as ever, and judging from what might assist, in regard to removing restrictions in
civilisation • had been guilty of barbarity foreign countries. During the past year the direc-
one heard, a community with large pretensions to
which would dishonour even the Red Indians. tors had before them the matter of our intercourse
abroad through our diplomatists, ministers, consuls,
Since and other representatives. The matter had not been
1860 the cultivation of cotton had been dis-
so taken up for the first time ; for many years con-
tributed over a very large portion of the globe. In
that plaints had been heard from this chamber both atthe
year, which was the year of our largest con-
Foreign-office and the Board of Trade, and deputa-
sumption, the quantity of cotton we consumed .was
tions had made known their wishes without any ap-
valued at 34 millions sterling. 'Last year, for a parent success. Although we employed 400 diplo-
quantity probably not exceeding one half we received matists in thevarious countries abroad, and although
in 1860, we had to pay, in round numbers, 80 mil-
we paid them £200,000 a-year in salaries, it did
lions sterling. In 1860 our consumption was 1,083
not appear that the channels of our commerce had
millions of pounds weight. Last year we consumed ever been widened by the instrumentality of
-t .. ~
-Lullions or ingamnil-vg7intitTs 51 per ceo, anTneof these, men. (Hear.) Could there be a
quantity in the previous period. But whilsb. IP.° table ground ofQom , ~.
.
had in this respect tided over one half the dilli- shown themSelveS . W -t-
-se often at the FOreignolliCe:. :e:
Ay; the- employment had increased in a greater the Beard of Trade with so little hope of success,'.
Cho"-by l'edrtOn of the inferiority of the staple, which
stipriiicipailAfrom. India, and had- required a much 1.11(_!re appeared. to be nothing less -reqiiisite to lii.i'
done than that the directors should approach the
trger nnisber,of hands to manipulate a smaller Premier. Ay.,Lord Falmeriton they weie,"receiVed
tuantity of e,Aton. Hence the 50 per cent. of cotton
_with courtesy, but he did not mean to say they were
consumed had employed betwe9 60 and 70 per
wg.leomed-prr received any encouragement,
gent. of ite hands; and if We were to receive would he le,adany deputation going froth-Ma:l'l6lles:-.
4nothey 50 per cent..of cotton, it must be obvious ter :to any dep-irtment in the public service-rever to
that there were only 30 to 40 per cent. of hands to expect - anything more than. courtesy, ;- they would
*ork7it: - From these circumstances, the consumer geP-..courtesy4nore than welcome. 'But there was no-
.*ight judge :in: what period of time he might re- reason-to -be disheartened. The instance in : point
. _,,.... • ceive a more-durable character of cloth at something nc, was. rather calculated to encourage applications of
like hal.fthp.money. In 1860 the cotton we received the kind,.,even in remonstrance. Despite Lord Pal-
from America furnished us with five days' labour rnerston's- unwillingness, measures ;were taken by
Out of ;the six. That which we received last year this chamber, -in co-operation with..., other bodies,
froth AnieriCa had-not-been equal to half a day per which lid to the'appointmont of a select• committee
week.l:.'Ther,SUPplies' which had kept the mills going over which Mr: Forster presided, and the report of
beyond- this were' derived from various resources. that comthittee,• which appeared in the Blue4ook,
From chfila, and Japan in 1860 we received no cot- justified by the evidence taken every_ complaint
ton whatever, ..6ut last year we'received 96 millions that, had been urged by this chamber. (Applause.) •
of pounds. weight. From Turkey, in 1860„ we re- Mr. T. BAZLEY, • M:P., seconded the resolution_
ceived as ninch—cetton -as "came to £628 in value ; He said lie concurred Very much in what the;presi-,
lastyearife' receivee22 millions of pounds. The dent had said respectiwthe future prospects of-i.e
import fi-oit, the Brazils had also increased largely ; cotton trade, especially in the estimate niß,_re as to
but the receipt- 'from.. Egypt had increased perhaps the supply-Of the-"falf-inaterial. miliop the set:-
More largelyistill. In 1560. the cotton'from Egypt tlement of American difficultie=, Iv:as-1.19* ill4Piclitig7.
ed
was of the *tie of 1i- million sterling ; now it was and that tit no didani doe we should'have a supply
nearly 15, anillions, showing. that the Egyptians of cotton,. from the: 'southern States: of America;
glad riP;cW•:;considei4lel)riogress: This progress again to:kiVe-life; comfort, and profit tO, this great
-
i
in TurlieYand Egypt Thad taken place under
manufac ring dish-id, He was 'sorry to hear "the::
the auspOi.,. of - ' Men - who were not deemed remarks made with --reference to the continued. in,
iii
to be si:ll*advaneed- in civilisation and the qua- feriority of .I,l,ndian cotton;- for although thew had
lities of gfiStriment as we shQuld,suppose our East been'. some t etter cotton arrived from India; it
'lndianAnii ell to be, which was composed of men was to be.- feared. the great bulk of it was' not
selected frmn the statesmen-of the country as being likely tcl--'be continued in consumption .by the great
Y .. . . .
-,,,,,i,.-•:.
the most 'capable of, conchicting:thi'f 'affairs of that
great einilit r: (Hear, hear:)'' The -80 millions of mass of spinners and manufacturers,.:, A feiv.w4kS
money in' a 'Year which had been distributed over ago. fOr 06 purpose of informing himself as to the
facts connected with East India cotton,-hement and
the world;', for this prodnction- of cotton had been inspected a quantity of goods Made froin that staple.
largely gathered :•byi the- cbuntries just named, and
the Viceroy„9f Egyptt and the Sultan 9f Turkeyh ad 'IL -re was evident a considerable increase of skill
in the produe-
!given a description of encouragement to cultivation' -tion of cloth made from. Indian -cotton, and it was
similar to tat afforded in thisagrieub, ' surprising how our'inanufacturers '; and spinners had
country by and.ananufacturing power employed
r•
tural societies—not protection exactly, but such surmounted the difficulties by producing goods of
information and enconragement for the growth`'` ,if much merit from the very inferior cotton received from
cotton as it was becoming on their part to offer, anklu7ridia. In 1860 there were sent from that country
those countries had reapedalarge advantagethereby.l _ . - .000 bags of cotton ; last year the number had
G ery'finteirconceinca-that-tire • aroni-ir;
-(--11:0Lvie4 Whilst the people of India had been .11 reached 1,400,000 bags—a vtry important increase,
making -duel,. ..,-,a, ai.axes vr ia.. large sums sent (Hear, ilb 4 iti
over to them for cotton, whilst we heard of their
erilndiant. cottoncghroblevtetrerwsausppdloyo no'
fe d
cotton,
ottot
0n
,'
boti l
in
disappoint-
making silver tires for their cart wheels, and knew
not what else they were doing with the bullion"- .- ' quantity and quality, could be obtained from
received, it would appear that the poor Ara '. ic . - werica, and the moment the trade
_could procure
Egypt had understood how:to make a better use ti. Tthe old class of New. Orleans cotton, that moment

their money. They had applied it to the purchase
of machinery for the carrying out of cultivation, for
steam ploughs, steam engines for irrigation, cotton
gins, and a great variety of implements of agricul-
ture, so that the money they received for these sup-
plies of cotton was being brought back to a large
extent, and expended upon those articles which are
best calculated to improve cultivation. Egypt was
now deriving the advantage of European intelligence
and European capital and banking. Its people had
found out that a bank under the auspices of Euro-
pean intelligence wasquite as safe a place to hoard
money as a hole dug in the ground ; and they had
also found that a Liverpool " price current " was to
them a subject of as much interest as the Nilometer
they had been accustomed to adore for centuries.
The prosperity of Egypt now might be said to
exceed that of any previous period, if we excepted
only that time when the " seven fat kine " were
heard of, and when Joseph conducted the large
speculative operation in grain. (A laugh.) But
what had been the effect produced in India by the
increase of price. In 1860 we paid for Indian cotton
three millions and a half ; and last year more than
40 millions ; while the quantity we had received had
increased 21 times, i.e., from 214 millions to 513 mil-
lions of pounds weight. While the receipt of so
great a sum must have stimulated cultivation, it must
also be remembered that a large portion of the cot-
ton lately derived from India had been withdrawn
from the domestic manufacture of India, and from
that proportion of cotton which India had been ac-
customed to ship to China. It was said that we go-
verned India for the benefit of the Hindoo. But it
would be very much pleasanter to remark upon some
efforts for the instruction of the Hindoo on the part
of the Indian Council, after the manner of the Vice-
roy of Egypt and the Sultan ; and seeing the
wretched quality of the cotton from India, a great
deal of interest attached to the question how far en-
couragement was given to the production of a better
kind. This chamber had during the last few months
been investigating the progress made in the quality
of cotton imported, and although communioations
had been received from many manufacturers and
brokers they were not able to conclude that any great

there would be a fearful diminution in the consump-
tion of Indian cotton. lie therefore much regretted
that the Indian Council and the Indian minister had
not taken such steps to increase the quality of

Indian cotton as would enable India to compete with
any other nation in the world. He earnestly im-
pressed upon the chamber the necessity of encourag-
ing the supplies of cotton from every possible field of
cultivation all over the world, for he should like to
see this great industry dependent not upon one, but
twenty sources of supply. (Hear, hear.) That ought
to be the policy of the whole country for the future,
and in carrying it out the promoters should pay
particular attention to the security of land tenure,
and to whatever possibility there might be of politi-
cal disturbances. He feared that with respect to
some of the countries whence we were now receiv-
ing precarious supplies of cotton there might be some
political disturbance, and that the laws regarding
the tenure of lands were no better than those in
British India, of which so many complaints were
made. Looking at the general trade of this country,
it was really surprising that with the depression
under which the cotton trade had been suffering, there
should be so much general prosperity. Indeed,
there,hadbeen ahnost a plethora of general prosperity.
He confessed, however, he viewed with some alarm,
and considerable surprise, the immense invest-
ments made in new works and enterprises. We must not
do now what was done in the great fever of railway projec-
tion ; we must not try to accomplish in, one year what
would require seven or ten years to mature. No doubt
many of the investments of last year were well founded,
and gave a fair earnest of commercial returns and profit ;
but he felt bound to point out the danger there was of en-
gaging in investments which were likely to embarrass
finances. (Hear, hear.) This was a matter of public inte-
rest, and he had no doubt that the good sense of the people
at large would tend to keep us in the main right. He
would here say a word in favour of the conduct of the
Bank of England ; for he thought the directors had
been exceedingly wise in the course they had taken
in regulating the prices of money, and our bankers gene-
rally had evinced very great wisdom in the course they had
pursued. He had made these remarks not anticipating
there would be any embarrassments arising from these in-
vestments in any way, but merely in a spirit of caution.
He begged to call the attention of the chamber to a very
important suggestion made to him a short time ago by Mr.
Mosley (a Manchester merchant) upon Indian affairs. It
was well known that a large portion of the bullion, both
silver and gold, shipped from this country in payment for
Indian imports, found its way into the gardens of the ryot
and into the stronghold of those who received it, and that it
was not put into circulation for the benefit of either agricul-
ture on commerce. The suggestion made by Mr. Mosley,
from his personal knowledge of the habits of the Hindoo,
was, that it was quite possible to establish savings banks in
India, under the auspices of Government, and to have a
universal savings bank something like our own Post-office
savings banks or the old general savings bank ; and by the
payment of something like four per cent. interest a large
capital could be accumulated in the hands of Government,
and with the security of Government. There would thus
be a gradual application of the savings of the people of
India for public works and public purposes in India, and
he (Mr. Bazloy) did not know why the Hindoo should not
have the same advantage ofpossessing a store for his earn-
ingseitemwoeuld venture to
and savings as the labouring classes of this country,
who, to their honour, had upwards of £10,000,000 sterling
there
in the old savings banks, and in about twooy_eeaersavings
were absorbed in the new system of the ros flf
banks £5,000,000. With this experience
both in a
might be applied with advantage in India,
it happened that
mercantile and moral point of view. Isnoiditii-ea,such system
bebeforedehsfre desirable
nt had been made of
Fatintahnisciajlumncitnmis-eteraask the
he
ilfoon:nrldvOiyiilval"L:dNiabvi 'Pilult Pt; frference to the absorp-
Itvh respect to those other
wmoualsds,enyot
directors to consider whether ite.
ttohisseeckounatnry,
innte.onrvt
tion of bullion
interests which affected alike both that country and this.
Both he (Mr. Bailey) and his colleagues would be glad to
assist in any such deputation. (Hear, hear.) Every exer-
tion that could be called forth on the part of the directors
would be required for the extended commerce with India ;
and above all things he knew that Indian interests de-
manded the consideration of the chamber. (Applause.)
Mr. W. MORRIS said the question of taking stock of
cotton in Liverpool was a very important one, and would
require the persevering labour of the chamber.
He pressed
the directors very strongly to follow the matter up, and
urged the chamber to encourage them in dealing with the
Cotton Brokers' Association of Liverpool. If anyone would

progress had been made in this respect, nor any
diminution in the extent of fraudulent packing• He
did not mean to say these matters were entirely de-
pendent on the Council for India, but the fraudulent
packing most certainly required the attention of the
Indian Government, if they had any regard what-
ever to the establishment of a higher tone of com-
mercial morality throughout that country. It was
true enough that better cotton had been brought
from India—some worth 27d. a lb. ; but other cot-
tons from India had not sold for more than half the
money ; and it must therefore be supposed that the
self-interest of the Hindoo would dictate an im-
provement of quality. . Hitherto their progress had
been so slow that their success was almost despaired
of. The distribution of these large sums of money
over India, together with the sums distributed for
the railway system, must have greatly improved the
condition of the country; and this was shown in the
statement Sir C. Wood hadbeen int'he habit of mak-
ing just before the doors were closed at the end of every
session of Parliament ; for on the last occasion he
congratulated the house on having turned the corner
on finances, having two millions of excess beyond
the military and other expenses incurred on India.
It would have been very honest and proper on the
part of Sir C. Wood if he had remarked upon the
manner in which those two millions of surplus had
been brought about—(hear, hear)—but it did not
appear that he made any acknowledgment whatever
thatthe increased value of cotton had anything to do
with it. Moreover, seeing how gratifying this surplus
must have been to him, Sir Charles might have been
expected to take some thought about the distress
committee, and contribute something to the funds ;
at all events, he could afford to do it. But how did
he manifest his gratitude in that respect ? The first
, that was heard of him was the doubling o the import

wlii,iisoe.,..n.thsa.sdtti'
FURNITURE , CARPETS, BEDDING, and molting omit to men' accounts that the consumption of
coke and coal was 21•561 b. por train mile in the June half of
I: FLOORCLOTH, CARRIAGE-FRE H. to any house in
the kingdom, reaardless of amount or dist:ince. First-class 1853, and in 1864 tl .
,couslpaptiuu was 41.111 b. per train inillionB
,Ptoda....at--scoona.class--ixiaps,-3?-Pno, PeaP4-arl, i4k-SAI to ' inirK ''.lid' ).. ' ' *. Nl,' k-•.;.'-.• ''.:l-4-, •1: I-1..311*s itr: ordy-56
Clergymen and Gentlemen. 'An immense stock' 0 select
from, displayed in Sbowrcomg occupying an acre of gfound. vice and certtl.were med, ••• : -of ..£11.,`296, whilein df the q
It. J .
Every article warranted. • the,sira4 ltk , .•A , 863 28 1 ,tons were, consnmed,-af-a
CL ERG YMEN and GENT T.EMN ABOUT TO ' FUlto:: -- , , -,. - , ' '
NISEI are respectfully informed that Messrs. Cobbett and, ~1,04,x, sho gan incr l34iLibatitein of .£18,r,...
Co are publishing an entirely Nevr Edition of their un- -185 !- 9,000 ,traiii inil4, -vrtiti run and in- lab 'T 3.7.'„,
equalled HOUSE FURNISHING GUIDE, illustrated by 410 ~,,,,;,,,,t , -
ti
..',T wlioh, accordillg-fe :tho liulo of -TUee, . 1 tCr uY,
min, -able engravings of every description of Furniture and ' utr,v,,,,"'
i;ensteads, with prices attached. A copy sent gl atis And 91.11d4aYetc*trof12,P00 more, iii tead 0f".Z18,600,!as shown' aapriP
post-iree on application. This costly work also contains
,tlie aecouiit's::-.,The.3%-orking e4enses in-1853 were 391 lkger r
lomplete estimates for furnishing on the following revised ..44 - . .- .- ,
scale : nerceilt., -aiikr in 1863 50?,; per cii-ATf. lid thin real over a ctuantit3
A Six-roomed Parsonage
number 'of gures_with a view th compare their expensa• donsunu
An Eight-roomed ditto - _ . • -..., .. _ _ _

1 i 11.,.... V ~.,.....0,,,Z. v•••••,-", 7 - 7,-...,....r La l I VI,
r6.:t) 6ii,. bak
~.. jneel4ell increased to £l.
t:appeafed:ilie Aad 'power •te, further ini
tit to X16,222,900.1ye had no dotlbt the direct
.reful as to 119,4110 y increased the: eapit
[tolls Junottut. 'iSie di:itlend in 18-18. was .1
and in 1845} ,to cent.; lybicli was,ailortiltl
d with so large an outlay. The gross'retei]
£1:53,408,-and in 1864 „£1,048,930,,5h0wing a
3 per cent.• . The working expenses. it l
,132, ;old n 1861 .El-17,433, or an increase
The train miles to 1848 Aver° £1,119,3
£3,72.8,653, or 253 pdr.c(ait. - As they had r
end half per eent. hiit year , ili..-re was no
b ;that thcly would be tli. to ac: ' plish the
Wit. within a reascipa e. time.
e CIIAIRMAN acid die Increase of the rapid
;If railway politics; the .:directorsluid don
cit'pld ustdivA.d'e4tiiitlnstances ; -they had
3antili...ii 'was talk impiiSsible in the ii
___Lk . , .. . _ _