The Sun.
London, England, 1849-02-15 00:00:00

INDIAN RAILWAYS.

Some very important points have been raised at the
annual meeting of the Manchester Chamber of Com-
merce. Amongst others, the question of Indian railways
was alluded to, but without throwing any further light
on the subject than Sir J. C. Hobhouse did in bis place
in Parliament on Tuesday night. We, however, under-
stand that the discussion of the subject has at length had
the effect of stimulating the East India Directors to
action, and that a resolution will be come to, embracing
such a guarantee to the shareholders of the line from
Bombay to Calcutta—the East Indian Railway—as will
be a sufficient inducement to them to advance the capital
for its construction. The principle, we believe, involved
is a guarantee for a dividend for a limited period,which
those professing to be competent judges consider to be
quite adequate to the purpose.
Another point adverted to at the meeting of the Man-
chester Chamber of Commerce was an effort that had
been made to reduce the time for which it has been
hitherto the practice to draw bills of exchange in India
payable in Europe. This subject had also been pressed
upon the attention of the East India Directors, who
have such a preponderating influence on the exchange
with Europe, that, had they agreed to reduce the time,
their example would have been immeditately followed
by the mercantile community. As usual, however, the
East India Company, who appear to have been
supported in opinion by the Board of Control, have
come to the conclusion that they should rather
follow than lead the practice of the merchants.
Now, we believe there is not a single individual can
be found, conversant with the details of the trade with
Asia of late years, who entertains any doubt, not only of
the propriety, but of the necessity, for a reduction of the
time at which bills have been hitherto drawn, if any re-
gard is paid to safety. It was under cover of the ten
months' bills that the factitious credit was established,
by the facility it afforded for renewals, which finally
ended in the destruction of so many of our large mercan-
tile houses in 1847. It was at the same time the main
cause of reducing the prices of our manufactured pro-
ductions in the Asiatic markets, by enabling these houses.
to procure goods on factitious paper, and continuireg
mo
their sales at what they would fetch over a g
lecntheditors.
period of time, at the ultimate expenseof their
creditors.
There was
There was some colour for this eases
originally established—when a voy
sgut and home
from Calcutta occupied twelve months, and to and from
Canton not less than eighteen. The introduction of steam
communication, combined with t e advantagfe of the
transit through Egypt, bringing the return o advices
within little more than two months, has so completely
altered the face of affairs, that not a scintilla of justifi-
cationn be adduced for the continuance of the system.
While
thisa fact is as obvious as the light of the sun at
noon-day, it is lamentable to see the East India Direc-
tors, backed by her Majesty's Government, retarding
rather than accelerating an improvement the utility of
which admits of no dispute, whilst they are so for-
ward in leading to destruction in other directions under
that guise.
We shall have occasion to return to th.s subject, f
or
it is of much more importance than has hitherto been
generally supposed, and will become more and more so,
in proportion as our trade with Asia is extended.—
Herald.

DISCONTINUANCE OF INTERMENTS AT ST. BRIDE'S
BURIAL GROUND.—Yesterday, in consequence of a re-
presentation made by Mr. Simon, the City of London
medical officer, to the effect that the land used by the
churchwardens of St. Bride's as burial-ground for the
poor, was a nuisance prejudicial to the neighbourhood,
an order was issued by Mr. Paw, the chief clerk of the
commissioners, directing the churchwardens to abate
such nuisance, and to discontinue interments in such
burial-grotuid how this time Nab.

THE ROYAL GENERAL ANNUITY
SOCIETY.
The anniversary festival of this excellent society was
held at the London Tavern yesterday evening. The Most
Noble the Marquis of Salisbury, ia.G ~ the Lord-Lieutenant
of Middlesex, presided over the assembly, which numbered.
upwards of 260 gentlemen, connected with or interested
in the institution. A. large number of ladies, in full
evening dress, occupied the gallery at the foot of the
room and the tiers of raised seats behind the chair, their
presence contributing not the least of the pleasures of the
evening. At intervals, during the evening, a choir of
professional vocalists, under the direction of Mr. Hobbs,
assisted by Miss Fyne, Miss L. Pyne, Mr. Francis, Mr.
Chapman, and Mr. H. Phillips, sang several beautiful
airs, which were warmly and deservedly applauded.
Among the company present, besides the Noble Marquis
in the chair, we observed Lord Faversham, the Rev.
Lord Saye and Selo, Mr. Ncwdegate, M.P., Mr. B. B.
Candi, Reynolds, M.P., Mr. Waddington,
M.P., Colonel Thomas Wood, Mr. Pownall, Mr. Duncan,
and many other gentlemen
wealth and influence in the
metropolis. The dinner anti dessert, which were of the
most recherche quality, beirg over, the Noble Chairman
gave in succession the usual loyal toasts.
The CIIAIRSIAN, in proposing success to the society,
gave some interesting netaila respecting its history and
operations. lie said at the commencement of the charity,
some twenty years ago, it flourished greatly, but some
time afterwards it fill into comparative obscurity; sad
it was not till within the last few years that by the great
exertions of the directors and the secretary it had risen
from its ashes, and he trusted it would long continue to
flourish as it now did. It could not be weil conceived
much a per, son Lis an object of conimiss.eration who
how
haa passed his in active employment, in promoting
the prosperity of his country, and in the earnest desire to
support his, family, when, in his declining
days, he found all his endeavours to main-
tain himself and his family were unavailing.
It was impossible to conceive anything more grievous to
a generous mind, than to see persons who had largely
contributed to the public charities of their country, re-
duced to receive that charity at the hands of others,
which they themselves hod so often and so liberally
bestowed.—(Hear, hear.) For the last few years the
funds of this society had greatly augmented, and that
notwithstanding a period of uuexempied distress. The
allowances to the annuitants had been considerably in-
creased, as had also the contributors to its finances. But
notwithstanding the liberality which the public had
shown towards the society, it was very far from equiva-
lent to the requirements of the charity. There were
thirty-four annuitants at present dependeat on this
charity, and seventeen of there were upwards of seventy
years of age. Among that number he was sorry to say
there were two merchants, who were lately in affluent and
prosperous circumstances, and were perhaps contributors
to this charity—(Hear, hear)—and four persona who
were the widows of merchants, and a lady who was the
daughter of a Baronet. The Chairman then mentioned
that the society had it now in contemplation to raise a
building fund, with a view to provide dwellings for the
most deserving objects of the charity, and concluded by
commending the society to the support of the meeting.
Mr. S. ALDRICH, the indefatigable secretary to the
charity, then announced the subscriptions which had
been raised among the company after dinner, and which
amounted to the munificent sum of 1,760 L, including
301. which had been contributed by the Noble Chairman.
Lord F.avensensm, in proposing the health of the
Noble Marquis in the chair, paid a well-merited com-
pliment to the society. From what he bad heard, and
from what he knew of this institution, he said he might,
without hesitation, affirm that it was one of the best
conducted, and ono of the most useful institutions of
which this great metropolis could boast; and there was
this peculiar character distinguishing the society, that
its operations were not confined merely to the metropolis,
but extended to all parts of the united kingdom.
Mr. 13. BOND CADDELL, M.P., also bore his testimony
to the usefulness of the charity, which he said enabled
tboso who were in distress to live in their own way
among their friends, and in a state of comparative com-
fort. In that point of view an institution of this kind
was one of a very important character.
Mr. NEWDEGATE, M.P., in returning thanks on behalf
of the stewards, said he could assure the meeting no one
felt more sincerely than ho did the importance of this
institution—(Hear)---and no man felt more happy in
seeing the Lord Lieutenant of Middlesex coming to the
city of London, and joining its citizens in providing for
those misfortunes which might happen to any of them,
and in those days when it was so incumbent on every
one to depend on his own individual exertions,
and when trade and commerce were to contend, unpro-
tected, in the arena of the world, he rejoiced to see all
classes combining together against the misfortunes and
contingencies which might befal the wisest of them all.
The benefits of this society were extended—not alone
to the city of London, though that might be its centre—
but to the country in general ; and he hoped it would
form an example for provident societies throughout the
country.
It may be interesting to the reader to know, in con-
cluding this brief report, that this society, which was
found( d in 1827, is under the patronage of her Majesty
and her Royal Consort, and is supported by voluntary
contributions ; and that the design of the institution is
to give permanent relief, without distinction of country
or religious persuasion, to decayed merchants, bankers,
professional men, master-manufacturers, tradesmen, and
their widows, clerks, and to single females, daughters of
persons belonging to such classes of society, by allow-
ing annuities, not to exceed 2/. ss. per month to the
males, and 11. 10s. per month to the females. No one is
admitted a candidate under sixty years of age (totalin-
capacity only excepted), nor until the strictest investiga-
tion has been made as to character.
The company separated about twelve o'clock. Mr.
Harker, with his usual address, officiated as toast-master.