The Sun.
London, England, 1847-02-20 00:00:00

POOR-LAWS.

The Marquis of LANSDOWNE presented a petition
from tho rate-payers of Killarn7y, complaining of the
forty-seventh section of the Irish Poor-law Act.
GRAND JURIES (CORK).
The NOBLE MARQUIS also presented a petition from
the Corporation of Cork, praying for the equalisation of
the grand jury cess .rate in that county.
REGISTRATION IN SCOTLAND.
The NOBLE MARQUIS (in the absence of the Duke of
Sutherland) presented a petition from the Presbytery
of Caithness, praying that births, deaths, and masriagcs,
might be registered in Scotland as in England.
INDIAN RAILWAYS.

The Earl of ELLENBOROUGH wished to know
whether the Noble Marquis (Lansdowne) was pre-
- pared ..to lay on the table copies of the communications
which had taken place between the Government of this
country and the shareholders in certain Indian rail-
ways, with respect to the granting of loans for their
construction. The Government had opposed, on finan-
cial grounds, the granting of money for the construction
of Irish railways ; he was, therefore, anxious to
know whether the Government—or rather the Go-
vernment of India—intended to act, on a si-
milar Principle, with respect to Indian railways.
The reason for his asking this question was because of a
rumour which he had heard some short time ago, and
which, if true, showed that the interests of India were
much injured by the course which was at present pur
sued. It was well known that money could be raised at
3f per cent. to a considerable extent, for several
successive years, without producing any material
effect upon the money market in this country ;
but in India, at the present moment, he regretted
to say that money could only be raised at 5 per cent.
Very recently the Government cf India found them-
selves compelled to open a new loan at 5 per cent. A
return of four per cent. was guaranteed to those specula-
tors who were interested in the hem. Their Lordships
would at once see that if the Indian Government wished
to return to the four per cent. loans, it was impracticable,
as the same amount of interest was now guaranteed
on railways and upon the same security, while
the many advantage; of patronage, and, he regretted
to s ty, of the jobbing systern,;were secured to the railway
proprietors. If a 5 per cent. loan were now opened, if
it once reduced the premium upon the capital advanced
upon former 5 per cent. loans, and the 4 per cent. went
down to 10 or 12 discount, it would produce the most
serious losses to the Indian capitsliets.
The Marquis of LANSI)UWNE said, that if the
Noble Lord had given notice of his question, he would
have been better informed on the subject. The state of
the case was this. Two month; had elapsed sine, the
Board of Control made known to the Indian Rai I way Com-
pany upon whet terms and conditions certain advances
could be made to pay for these undertakings. No
answer had been received from those companies—a
pretty strong proof that the terms were not consiJercd
sufficiently advantageous, or they would at once have
closed with them. As soon as the correspondence was
in a complete state, it should be laid on the table of the
House.
Atter a few word; from Lerd BROUGIUM,
The Duke of RICHMOND said that with regard to
these measures he was very sorry that such an example
had been set, as the people of Ireland would be furnished
with an additional argument for a repeal of the union,
a; offers of the assistance which had been refused to ,
Ire-
land, hal been made to India.
The Marquis of LANSDOWNE said, that when the
correspondem e appeared, the Irish people would not
have any tab oonal argument for a repeal of the union.
The Earl of RIPON said, that when he was in Mit, Pre-
sident of the Board of Control, the Government had declared
itself favourable to the general principle of the establish-
ment of railways. A deputation had called upon him, and he
informed them that he concurred in the general impression
that prevailed of the utility of the railway system in India, and
that he was sure the Government would give it their support.
They (the deputation) then intimated that that support would
involve pecuniary assistance, and without it they doubted
whether they coul.l go on. In that case, he thought the Go-
vernment ought to issue a conin&ssion, and a gentleman wag
accordingly appointed whn reported upon the subject. He
conceived they ought not to do more for Ireland than they had
already don, for India.
The conversation then dropped.
BANK RETURNS.

Lard ASHBURTON then moved for the returns of the
account of eapital or stock authorised to be raked by any rail-
way companies by any Acts passed during the two last sessions
of Parliament, of the amount of money actually so raised, and
of the a.nount remaining to be paid. Also, account
of the sums authorised to be borrowed by all railway
companies under the powers given them by Acts
of the two last sessions of Parliament. Also, ac-
count of all gems borrowed by all the several railway companies
from the period of their commencement to the present, time;
distinguishing each year, and stating the amount of such debt
still outstanding; stating also the rate of interest at which
such sums were borrowed, and the several periods when the
money so borrowed is promised to be repaid. Also, an ac-
count of the amount which each of the several railway com-
panies have still power to borrow by their several Acts of
Parliament. And also, account of the proposed amount of
capital, and of the proposed power of borrowing, of all
railways of which notice has been given to the Railway Com-
missioners, of Bills intended to be presented to Parliament
during the present session. Account of the value of
all
_gol 1 and silver coin and bullion in the Bank
od Englaed at the several periods when the returns are
made public, from the Ist January, 1846, down to the latest
period. Aiso a monthly return of Exchequer-bills, held by the
Bank of England during the same period. Also return of the
amount of discounted bills by the Bank of England during the
SeURC period. And also, return of all investments by the Batik
of England in the bonds, debentures, or other engagements
for borrowing money of any railway cern, any; stating the
periods of such investments, the rate of interest at which ihey
mere made, the periods of promised repayment, and the sums
still remaining disc to the bank.
The Earl of CLARENDON said that with regard to the
first and second returns moved for by the Noble Lord, there
could be no objection to the granting of them, but as regarded
the other three he did not conceive it fair to the Bank of Eng-
land to give al opportunity to joint-stock companies and other
banking rivals, to know the whole of their investments and
private business.—business the particulars of which was even
denied by the directors to their own proprietors. The Noble
Lord then read the fith clause, to show what returns they were
compteled to make weekly. Parliament had, therefore, limited
the amount of information necessary to be published, and
those returns were accordingly published by the Bank of
England every week. If these returns were granted, a pre-
cedent might be established for calling upon the Bank of England
to give information as to the amount of assistance furnished by
the Bank to r alh merchant or other party. The Noble Lord
had tot brought forward any grounds for his motion, and he
thought that if the returns were granted, it would be con-
sidered as a slur upon the conduct of the directors, and detri-
mental to the interests of the Bank. He hoped, therefore,
that the Noble Lord would not press his motion.
Lord ASHBURTON thought, that considering the present
state of the circulation, it Nl2 s necessary to have the returns he
bad moved for, in order to show to what extent
the circulation had been affected by the new
species of public securities by investments in railways
It was quite true that Parliament hart stated whai
returns were to be published, but that was no reason why the
directors of the Bank of England should refuse, out of eour-
tesy, to grant those returns, which were necessary to assist the
Government in conducting the financial affairs of the country.
Lord MON TE A GLE observed that he did not think there
arinld be any objection on the part of the Bank to grant the
returns. The returns, if they were furnished, would afford the
House the means of judging of the vast extent to which
railway speculations were being carried, and would,
perhaps, lead them to be chary of passing such
a large number of Bills, within a limited period,
as they had been in the habit of doing. Yet ho did
not think the returns necessary as his Noble Friend seemed
to him trepossess all the knowledge which was necessary for
the object which he had in view.
Lord BROUGHAM said those who did not possess so
much knowledge of the proceedings in the " Bank parlour,"
as his Noble Friend (Lord Mouteagle) could not form an
accurate opinion on the subject. The withdrawal of the
motion would not preclude the Bank of England from volun-
tarily offering the desired information; but if they did not do
so he should think they had some motive for withholding it.
Lord ASHBURTON begged to be understood as casting
no reflection whatever upon the Bank, for he was convinced
that they were a highly honourable body. He cawed for this
information with other views, and not with the view of in any
way impugning its credit.
After a few words from the Earl of RADNOR the motion
was agreed to.
LAST DAY FOR APPOINTING RAILWAY COM-

Lord .1
REDESDALE MITTEES
moved that no Committee should Le
appoThinatmedottiir motion
railway Bill after the sth of July next.
3 agreed to.
Lore STANLEY
was tram ala presented two petitions. The first peti-
tionnumber of farmers and landed proprietors
against the use ofrsglegar
,in distilleries ; the second was from
several distillers
ships would n Scotland, praying that their Lord-
no! aanet•
than 4s. 10.), per gallon 1., auction a lower rate of duty
SUGAR RI WEl:\irkunN.D DISTILLERY BILL.
, petition from the Standing
Earl GREY presented a
mattes of the West India planters, o v• fortheromissiCorof
tng
breweries.
all duties osi sugar used in distillec'ra'
petition from the
Lord MOoN TEA G LE prayentedl'a's'."
agents of tile We,t India planters to themilar
eet n effect:
o; the London one from
Lord CLARENDON presented threseamp
it e Nlauritius association ; one from the members
iti
of
West India and China Association; and one from the merchants
and traders of London, to the same effect.
Lord MOUNTCASIIEL presented a petition from the
agricultui ists of Macroom, in the county of Cork, praying
their Lordships to protect agricultural interests against the
operations of the Brewing and Distilling Sugar Bill now be_
furs the House.
The Earl of CLARENDON said that it had been ma'.d that
this measure ought to be a temporary one, and that it had been
included in the measures of the Noble Lord at the head of the
Government with other measures of a temporary nature. Now,
although there existed a most distressing famine in Ireland,
and he believed that this measure would, if passed, tend to set
Ire. a great quantity of food for the, people, of Ireland, still he