The Sun.
London, England, 1847-06-10 00:00:00

CEIZIAL PARLIAMEM%

(THIS DAY.)

HOUSE OF COMMONS.

The FPLAKER took the Ch:.ir to-day at Twelve o'clock,
ItA ILIV AY RESOLU
On the motion of the CHANCELLOR of the FS'
CHEQUER, the adjourned delete on the railway row'
lutlons wns procecd.d with.
The SPE KER, having put the first resolution, which
W9S to the following effect :—" That the promoters of all
Railway Bills in the present session of Parliament shall
be empowered on the second reading, or on the comple•
Lion of any subsequent stage of any such Bill, to srliend
any turther proceeding in the present session, with 910
option, unaer the following conditions, of proceeding
with the same Bill in the next session of Parliament,
the stage where the Bill shall be now suspended,"
Mr. R. HODGSON moved as an amendment to Ilse"
" or where the Bill shall have been referred to a Com-
mittee, but the case of the promoters shall not have been
opned."
The CHANCELLOR of the EXCHEQUER
of+ etion to the amendment, and it was conseq
gently no

'?greed to.
Colonel T. WOOD wished to know why theta roll'
lotions should nio be if:Ter:lt:ye upon all railways? 5_
The CHANCELLOR of tote EXCFEQUER
sursed that he had stated yesterday the grounds 017°-
which he thought the adoption of such a course ineV
pedient.
The resolution was then agreed td with the aniend-
wents proposed by Mr. R. Hodgson.
The following Conaitions were also agreed to,
Wit
few verbal amendments:—
" The promoters of such Bills are to give notice 10 tllff
Private Bill-office, on or before the 18th day of June;,:the
the Bill shall be in Committee, then within six daysd any
report of the Committee, of their intention to slasPen
further proceedings thereon, on the completion of some "'"
sequent stage of the Bill.
" The promoters of such Bills are to
tisement for three successive weeks, in October suilr„„°l the
ber, in the London, Edinburgh, and Dublin Gazer "r,,
case may be, and in the local paper or papers the liaa
culation in any part of the country through which g
of railway is proposed to pass, of their intention to present
petition for the re-introduction of any such Bill
_„,
give notice by advemer:
Bill
" Upon a petition for leave to bring in a rau'r',td
being presented during the session of 1848, and re le'„ss
the Examiner of Petitions, he is to examine whether th.Li
tition be the same in substance as any petition for thete7lo
purpose, and from the same parties, which was Presel2
the session of 1847 ; and in that case, whether aO7 the
brought into the House in pursuance of such petitionn.aia go:
session of 1847 was pending in either House of Par b•
on the termination of such session, and, if so, whether silo.
scription contract, as required by the standing order* has
ing iu the usual way the subscribers to the undertakinglli,,
been entered into, and is valid at the time of such iaQ
and whether the deposit of 1(Z. per cent. upon such i;nd
scriptiens is lodged in the manner required by the etas"
(!e s. • WO
" In such case, and sn proof of such notice havrA its&
given as aforesaid, and if it ,appears that such „Pi ..;-sf
iu the session of 1847, been suspended in the tbes 11;701
Lords, or in the House of Commons, on or after ettOs
reading, the standing orders with respect to any
ar.! to be held to have been complied with. ch
The time between the second reading of 01 --,ened to
sp., t meeting of the Committee thereon is snort
ices; at
::re clear days, the parties to give the regular 0'
t. Private Bill-office. I. se'"
•In ease such Bill shall have been reported in arnioo
Sion of 1847, the Committee on the Bill are to oaf
wnethcr the Bill be in every respect the 8004 good
fiirnier Bill at the last stage of its proceeding is these is tO
iii the session of 1847, and in such case no eviden.cen
tie received by such Committee ; and on the recePti°olittee
satiption by the House of a report of such Come
vas
that the Bill referred to them is in every respect tb is
as such former Bill at the last stage of its P orn.g
the noose in the s ssion of 1847. such Bill may be ae
respect
to be engrossed without any further proceeding re
thereot.The " R
roof ed
CHANCELLO of the EXCHEQUg"
roceedi

the second resolutioe:— Billh
" That the deposits made in respect of all rai.w-lban be
the proceedings on which shall have been suspended,
returned to the depositors; but that before proceedint'osia
future session, deposits to the sarae amount shall be 07;use
duly paid in, according to the standing orders of the
of Commons." of the
Mr. B. DENISON considered that the words
resolution were extremely le tit finite.
Mr. GISBORNE considered that these reti.
o
would not relieve them from the mire of railway leive
Lion in which they were involved. He woo at
Inlice, on the second reading of the Railway Bit _ the
he would bring under the attention of the Efousewere
tribunals and the forms by which Railway Bills,_ 1.
passed. Unless some reformation in these tribunals,p
made no satis'actory issue c,aild ever be 111.ttoo
The system at present pursued was the origin 01
_P'the
unmeaning scenes which were nightly occurring ou_iredn
reading of any railway Bill. Tue House to T the
which way the Committee was before they enter
lobby on a division, and regulated their vote accorcill,4
although they knew nothing about the matter. lip'
present tribunals were wholly incompetent ; it wlll/
possible for him to go into the subject at that doer
he had a Committee to attend.
Mr. ELLICE said he considered that the "Pa.;
had shown itself a very incompetent and also very P,
consistent tribunal in those matters. But he must say
that the resolutions which he brought forward at,'
commencement of the session had answered every
pose for which they were intended.
The CHANCELLOR of the EXCHEQUER s 1?„,
that it was the intention of the Government to brig
forward the Railways Bill at the very earliest possible
moment.
After a few words from Mr. HODGSON, the resole'
tion was agreed to.
The CHANCELLOR of the EXCHEQUER eloYea
the third resolution:—
" That a clause shall be inserted in every Railway
in the present and every future session of Parliaments P'";
hibiting the payment of any interest or dividend in rePtir,
of calls (except the interest by way of discount on sot
scriptions pre-paid, agreeably to 8 Vict., c. 16, 8. 24). mad
of the capital authorised to be raised in such Bill, eitlrLed
means of calls, or of any power of borrowing eon'.
therein."
Mr. ENTWISLE would not oppose the reso4l „la
but he feared that it would lead to abuses, ands 0-0,
give an advantage to wealthy companies over pooliar
Mr. B. DENISON thought the present a mostrnon
resolution, which prevented the interest being paid t
all Bills which had been introduced in the, P"Mig,
session ; it would injure the depositors who heorrit,
this money on the condition of receiving interest
would prevent those parties who were only dept'sq,i
now from being subscribers when the Bill was obtelfent
as they would say, you cannot fulfil your agree:post
with us to pay interest. They ought not to roakeoloion
/ado law. Ile had no objtetion to such a reseed.„es.„ an
bring made applicable to future Bills. He Prcivrbiould
ttineudmEnt, that after the words "Railway
Btllbe inserted the words "introduced for the first tun'
any session of Parliament."
Mr. RICARDO said that it had been stated that the
withdrawal of powers for the payment of interestuOt
capital web a di.credit to Parliament. He thought tPS
the insertion of such a clause was a discredit, for it la,.
duced Feyl le to believe that they were investing theP
money insie.Al of speculating with it. He had alwsig
struck out such clauses when they came before him oPoll
Kane may Committees. In order to pa the interest, Lb°
calls, instead of being 21. 10c., were 21. 155., and the 65'
.sas paid back in the shape el interest at the end of 5:,%
months. The thing was a delusion and a snare, zthd,l'f,
d to the Right Hon. Gentleman for turtowb
1 i
,eirtUtiat
seswi,tlw
it.
dss rdo mttia 7rtl rh.
eHt.
hiol
ulgNhDt Et
h, a t
the
clause
empowering the payment of interest upon caPits,!
was the greatest boon to those who really_ sought
invest their money in these enterprises. He regrettasw
hat any attempt should be made to strike it out
wished to know whether this resolution was to be ss
plied to capital already raised as well as capital to
raised.

The CHANCELLOR, of the EXCHEQUER said not
it would not. It did not repeal what was already done.
Mr. HUME said, that in vt.ting for this resolution be
voted for it under the impression that it was to be sr
!lied to all railway Bills. It was, however, a goal
enactment, and he hoped that the House would Nur
port it.
Nlr. HUDSON said that when the payment of We'
rest was introduced it was given when railway ente_r-
prise required all the encouragement that could
given to it. He thought that even then the prinFifeto',
was wrong, and that it ought not to have been Vv. 0
for it was paying out of one pocket of the share
ent
put into the other. He thought that under the
fectll
system of railway legislation the principle wag Per"—
unsound

,blit it

Mr. RUSSELL said that what he stated was, t-niir
tended to introduce a more substantial class of epee
tors than had come forward in the first instanoe. A,/
Sir G. STRICKLAND wished to know whether
could justly extend this clause to those railwai ""e"h;
which had already gone through Committee. Lie tb°„"lt'e-
that the introduction of such a clause threw a gre,"lrerif
sponsibility upon the House ; and though be ell;,i in
disapproved of the payment of interest upon na131,,,--ent
these cases, he felt bound to support the atneem— any
which had been introduced, in order to avoid doin.;
injustice to the parties interested in these speculations.
The CHANCELLOR of the EXCHEQUER been
to ask whether, supposing this clause not to have "--0
embodied, and the Railway Committees of their 0.4
wills refused such a power, what would have beelligelvet
then? No complaint could have been made, noo.
when the Government sought to interfere to repres6
certain and gambling speculations, the strongest oPP
sitio
Mn was offered. •
hish
Mr.
GROGAN said that the very discussion W-
had Wien place upon this paragraph clearly sh°l:,.l,
that some alteration in the present system was necearni.pi
and the only matter of regret was that this step ha iori
been talien earlier.—(Hear, hear.) Had this resollt!
beeo proposed earlier in the session a great de bad
clitheully would have been avoided, for Bills which
'wen passe:4 in the commencement of the session haelefr„,.,
is ,wcr of paying interest, while those which owe :go
cacti lure would not have this power. He thought iijich
the el:euse should apply to all future Bills and total W
had r:ce n passed this session. • h the
Mr. CHAPLIN said that he entirely agreed wit 'fig
resolution generally, but he thought that in repreelj,
,!(-1 Ation many of the 010 lines were danar:".
! e.e.ereceaseelled to suffer for that which was not ta"

fault.
Ai.e: a few v..ords from Lord CLIVE,
Mr. 110.1)(1bON said that this measure would gres
iljur2 tlir;so saareholders who had signed tbeir
cofla
truetc: urr;..ii the agc'ernent that interest would be P'"
upon their - 1 s.
sZtct -)i tt, it was isi„„legill
4
gret. ti3Ob hog '-ose
itl y er) groat expense, to in3broi
these res'aietions upon them w'tthuut due notice
viol
given. He thought that the jutiee of the citi6