The Sun.
London, England, 1847-05-03 00:00:00

U

°mint( 'llll4

...ONDON. MOND '0 Y. MAY 3, 1847.

There is a vast distinction between the principle of
the measure introduced by Lord G. BENTINCIE, for
the advance of _
16,000,00 u sterling,
amounting to no less than
instalments of 4,000,0001.
per annum, to be b y
distributed indiscriminately to ail
the
railways in Ireland, io proportion of two parts
from the State for one provided
the companies,
and which was deservedly rejeetedbbidan overwhelming
brought
majority ; and that which was on Friday nightExchequer,
compaerimer,.for the
forward by the Chancellor of
g,t.that
loan of 620;0001. to three railway
country, (in sums of 500,0001., 83,000 t, and
respectivels), v• hich are already in progress of co:.
8 truction, and which, in two of the three cases, have
a portion of their lines now open and in daily use,
with an average traffic yielding returns sufficient to
afford ample security for the sums they are about to
borrow, and which was sanctioned .by an equally
clear and decisive majority. The first proposition, if
carried, would introduce a new precedent, would
impose new duties on the Government ; give enor-
mous advantages to speculators in Irish railways;
deteriorate the property of those who had made in-
vestments in similar works in this country, and prove
a weighty drain oil the finances of the country. The
second proposition, which has been approved of, is
merely an extension of a principle that has long been
recognised, and the results of which have proved
bighlybeneficial to the country. In fact, it is placing an
additional SUM attbe disposal of the Public Works Loan

Commissioners, a body many years constituted, add
who, if they had had sufficient funds at their disposal
for the purpose, would have themselves made the
advance without any application to the L,-gislature.
Ar, the Right Honourable Baronet said, " thcre is,
indeed, a wide difference between the Government
wearing as money lenders in the market, and their
advancing a sum to the Commissioners in addition to
the amount annually placed at their disposal by Par-
liament, for the purpose of enabling them to make
loans for the construction of approved works of this
description." No injury is done to any other
class of speculators. If the undertaking in which
they are interested requires assistance so urgently,
that unless that aid is granted its progress must be
stayed— if its immediate completion is calculated to
prove so advantageous to the- kingdom in general, to
effect such public benefits, and if, above all, the par-
ties seeking aid can show such ample security for its
repayment, the Commissioners will be ready to re-
ceive their applications, and to make the advances, if
they have it in their power, and, if not, a new appli-
cation may be made to Parliament to enable them to
do so ; and if similar advantages can be shown to
follow therefrom, we doubt not that a similar
sanction will be given to the advance. Each
case must stand or fall by its own intrinsic merits.
Again, there is no additional charge on the Exche-
quer occasioned thereby. It is simply a different
mode of application of a sum that was intended to be
devoted to the relief of Irish distress, to the promo-

tion of Irish industry, and the development of Irish
resources. In place of being expended in the recla-
mation of waste lands, it is to be applied, together with
an equal sum provided by the companies, in the actual
construction of earth-works and brick-works on
the lines by instalments, the second instalment not
to be paid until full proof is afforded that the first and a
similar sum paid by the company is properly expended.
The debate was in many respects a very satisfac-
tory one. The Chancellor of the Exchequer, although
he admitted the grave aspect of affairs, and that the
panic that had set in was not utterly and altogether
without foundation, gave his decided opinion " that
the apprehensions went far beyond any measure
of caution or prudence." Ile Announced also
a decided improvement in the condition of the
Bank of England; that her returns showed a diminution
of her liabilities and an increase in her securities,
and that he had that morning heard from the Go-
vernor that the Bank had on two days during the

last week been enabled to give additional facilities to

the money market ; so that he felt himself justified
in announcing that the extreme pressure of the last
fortnight might be said to be at an end. This is, in-
deed, a consolatory statement, coming from such a
quarter, and we doubt not its good effects will be
manifested in an universal activity in commercial
affairs.

The Bill for the reclamation of the waste lands has
been postponed for the present. We regret this ne-
cessity ; we believe that there is no single measure
so well calculated to benefit our sister kingdom, or
which would yield a more ample return for the ne-
cessary outlay. The Government, however, decided
to abandon the compulsory clauses of the Bill, and
in doing so abandoned a great portion of that which
made it practically available in the parts of the
country where its operation would be most useful.
They found great difficulty in framing a Bill that
could be made to work efficiently this year, and they
consequentlF gave it up, we trust, only, for the
present session. One-half of the million intended to be
applied to that purpose has been added to the fund
for the improvement of landed estates in Ireland.
The remaining 500,000/. remains available for the
purposes of relief works, or any other mode of
encouraging private enterprise in that country.
The reduction of the number of persons em
ployed on the public works from 734.000,
the number employed in the month of March,
to 284,000, or little more than one-third of the
number, so occupied after Saturday last, is also satis-
factory. A sum of 40,0001., part of the sum of
50,0001. last year voted for the promotion of useful
works in Ireland, is to be applied to the carrying out
the Fishery Piers' Act of last session. The question
how far the Bank Charter c 1844 had really
answered the objects for which t was intended was
incidentally discussed. Our %lc:ions on this subject
have been ch ally and distin-:ty. eKnressed ; we are
convinced that until a thorough change is effected
the industry of the country will Le liable to
become para,ysed, and its commercial operations
checked and i.:.peded. Every discussion on the sub-
ject must he useful, and tend to the advancement of
truth and the exposure of the faults of the present
system.

In our remarks of Friday upon Mr. llumE's mo-
tion, relative to naval architecture, we objected to the
sweeping nature of the condemnation passed by Mr.
HUME and others upon the expenditure we have in-
curred in endeavouring to improve eur system of
ship-building; and we indicated that where reasonable
experiments lvive and ought to be made, with the
view of rendering our ships of war more efficient for
their every purpose, it is puerile to denounce the ,x
penses thus incurred as " wasteful," seeing it is in
the nature or things, and indeed is implied in the
word " experiment" itself, that the results are consi-
dered doubtful until the necessary trials have been
completed. We sbiwed also, that in considering the
amount of money spent in the prosecution of different
experiments, vie should not only place on the credit
side certain bniefits which have undoubtedly
been obtained, but likewise the advantages derivable
from the negative knowledge which ti 'e may be said
to have acquired at the same time. Upon the other
hand, it is manifest from what has transpired, that a
sufficient regard to economy, under this important head
of national expenditure, has not been observedby former
administrations,of which the presentßoardof Admiralty
evidenced their conviction by appointing a Committee
of Reference. In forming this Committee, composed
of some of the most eminent members of the late
School of Naval Architecture, the object of the Admi-
ralty was and is, by a preliminary investigation, con-
ducted by scientific men, into the merits of every
new plan, to impose a check upon the late expensive
system of ship-building. The benefit to accrue to
the public from the services of this Committee re-
mains to be seen. It is evidently a move in the right
direction. It imposes a species of control upon the
Surveyor of the Navy, Sir W. Srmorips, against
whose excessive influence in the construction of our
ships for the last fifteen years the public has heard so
much. A dead set was made at this public officer by
Mr. Hume and others in the recent debate, an attack
in which Sir C. NAritst himself most honourably
refused to participate. The gallant Commodore re-
pudiated the personal character which was infused
by many into the discussion, and confined his stric-
tures to the system which has hitherto regulated
the building of our men-of-war. There certainly
are very discordant opinions as to the merits of
some of the ships which have been built from the
lines drawn by Sir W. SYMONDS. Upon a review of
the different facts elicited we may deduce, first, that
in the construction of ships of the smaller class Sir
W. SYMONDS may be said to have gained an almost
unanimous approval, whilst in that of the larger his
success is very equivocal; and we think it not impro-
bable that his failures may be in a great measure
ttttributable to his having been indifferent to the
advice tendered to him years ago by Sir JAMES
GRAHAM, to whom he was indebted for his appoint-
ment. The Right Hon. Baronet gave the purport
of that advice on Thursday night in the following
words
person
s:
introducing a new theory under such circum-
a,tanees as those to which be was alluding was under the
?indyan!.age or being difficult to be convinced of any faults
there e.
which might appear in carrying it out, and he therefore ad-
',l.%!tei(gtiZuScimoncl.s to apply his attention to the objections
from the adoption tolf to remove an
wisdom to
.but
.ships, for .he was satisfied that
!ervati„n.,'"aus
cnttientu in giving consideration to such ob-
I, disadvantages result-
ingshuch theory."
Every ship of war
of being fought s ould sail well, and be capable
' These are two advantageously in all weathers.
essential properties,
W. symoNns, es. In the former
respect, Sir
speaking, entitled to considerable la are, generally
rough weather, and particularly when merit. Except in
Called II—
breast a head sea, they sail admirably. But re, to
this ex-
ception is of the gravest character, for, from the
manner in which they are represented to roll and
pitch under the above circumstances, it is clear that
we should at times be liable to engage an
enemy under great disadvantages, from our being
unable to fire with precision, or to keep
the lower ports open. This seems to be the chief,