The Sun.
London, England, 1847-05-15 00:00:00

Tilt SUN, LONDON, SATtIeRDAY EVENING, MAY 15, i 847.

Captain MANGLES cad the present motion was a most
toportant one, and they should consider it carefully ere they
gave a decision. fie (Captain Mangles) thought this check
°n
ery beneficial one, and he could not sanction any proceeding
the part of the House that would prevent capitalists. or
tansthose who had small sums of money from investing them in
oon railway undertakings. A few years ago there was the
greatest difficulty in gettingany interest at all, and now, when
a benefit was likely to be had, they ought to possesa it. With
regard to the returns of the North-Western Company, he
begged to say, they were sent in to the commissioners on the
Bth of April.
hadAlrh.viClolnAiPy
aLIN wished the H. Member for Montrose
year's experience as a railway director, or
Chairman, and then he would know more about the question
°d,.l° he did. From his experience the established lines were
en obliged to make extensions in self defence. Some few
Years back as soon as a line was talked of for Ep;om the
eatm"Pheric project was started, which, after being laid down
!ior few years, was now being taken up. The same applied
r) the Reading and Guilford line. Again, they were assailed
!ro;ansaterli Direct Portsmouth line,which at last was sanctioned by
Leliaraent. Such was the position in which the South-
Company had been placed. Whatever was done, full time
swhporuld be given for deliberation. The Hon. Member for Her.
wickc two schemes lest they might offer a serious check to
bnhad !aid the borrowing provisions were a sufficient check
Undue progress in these undertakings. So far as private ca pitsliits were concerned this was perfectly true, though
Ine'Rht not be so of banking establishments. Thus the estab-
!Zan unless the in every direction assailed by speculators,
e former took measures to occupy the ground they
a;re,e.‘!ure to be deprived of their legitimate traffic. Now, the
He il,ature had supported this system for the last two years.
for 1/ I hope ere the acted on the advice of the Hon. Member
to ontrclis,el,i,thes.eHayodu.sU would see what the Government had
tropoa,
ets7d JOHN s t
RUSSELL could not give his consent to the
Union of the Hon. Member for Montrose. It did not
talit),Pear,°" t° him necessary; nor did he see that it would effect
s
thi_,,leet which was sought to be obtained. Ile did not
think that it would be just to the railway companies, or
the Me public at large, to press such a resolution. The Hon.
enftTfor Newcastle, had stated a case which bore strongly
whi_r present question. He supposed the case of a main line
~7Wanted to make a branch, which was of great import-
es:s▪ e, to secure and develop their traffic. Now, according to
eioertte_pd.r.ovisi,onns of the present resolution, such a main line could
t alth°tile the making of a branch until it was com-
not e not wise for them to say that, till a
"tathPwas
any made the
.main branch
wthheicyh' shouldgbe
of th e power of making a rann
ind e greatest importance. Unless they did so, perhaps,an
....,Tendent company would be got up to occupy the ground.
...Atefear, hear.) The resolution would not meet the evils
nwe°2
,11 were complained of. Regarding railway enterprise ge
„Zia', he hoped the House would not interfere without due
:hsotetleedeerzattrientnne• Because they had hitherto acted in a lax
po,ittn,they should take care and not fall into the error of the op-
They ought to be cautious how they checked that
had , !unte application of capital to railway enterprise which
the
Hobert proved so advanta eous. He did not agree with
otti,satin.ognsill;aenmber for Coventry,g that this House should step
r interfere to place a greater control upon railway prei-
had hitherto been imposed. The course prev.i-
the Y ha" an
to appoint Committees, and no Bill could obtain
disease sanction
fnini:essteden.
ThoferethewaHsouseeverwyithout consideration and
opportunity for the
He rein int enigation if that were thought necessary.
Mbered, also, when such money was sent away and
it anoth:n foreign stocks not very useful to this country, while
Americato be
`ntle the capital of this country was sent to North
mbei,
thereto; 'Pent in the construction of canals ; and he re
al one ed the debtors of the country who borrowed that
_were not very ready in repaying it. How unwise,_to
the wouldit ould be to restrict the application of capital
the o truetion
y of railways in the country, when . by doing so
avid , divert it into channels which would result in injury
be possi the country. On the other hand, however, it might
calculate" for money to be expended in railways which were
bu
II t ulated to lead to the ruin of the parties promoting them ;
11"
asacaide case
edlylike that, it was the duty of the
eitrehe
:to,
decinterfere and stop the progress of the railway ; but
turn
undertak7 of opinion that Parliament ought to be
cola cautious in interfering with the progress of these
Upon sub!ng2. It must be clear to the House, however, that
commlottmjects connected with the capital and solvency of Parti-
a matter eeaPanies' that it required some other agency than a
of five Members of that House to inquire into such
Or amal s that, or to report upon the expediency of leasing
that wornatinc particular lines at high rates of interest ; but
he
would d be a subject for discussion on another evening, and
be no d not further detain the House upon it. There could
ulna
eonbt whatever that the railways had proved highly ad-
and Laate to the country, and, perhaps, it was difficult to
te what future benefits were to be derived from them ;
tof ioTl:s_et,wllstr:cdietrhtaereingfore, decidedly of opinion that too much eau-
he'"uld not be used in their endeavours to stop the progress
Noble COLLET'., trusted,after
biontro
who had just sat down, the lion. Member for
would not persist in his resolution.
beroLrilipdnr:atG'catic°abitleG, EsupßpEnsNinTglNCK said the resolution would
▪ c 'auerot the House were to agree to it.
should one portion of it said one railway company
be
ee ainlloawed to sell the line of another. Now he was
could es, understand how, by any possibility, one company
position to sell the line of another. The
ttb-ele L rd at the head of the Government had spoken of
"uos,
esrpeculations in North America. He could mention
he
wnit_
nspeculation which proved no less disastrous, and if
troa, ot mistaken, with which the Hon. Member for Mon-
tage bee something to do, namely, the Greek. loans. It would
*, • much better had that money been invested in rail-
ys in this
riatioo, and enuotry, rather than thrown away upon a foreign
take, _ he trusted the fact he had mentioned would be
applieaatsinatiother reason why they should not interfere with the
The CHAP capital to works at home,
lion. p . ANCELLOR of the EXCHEQUER thought his
goo,
hirl'end the Member for Montrose would do well to with-
thegoo ,02;solution ; at the sanie time, however, he thought
Mittees
itonu. (resalt from this discussion. Much of the evil which
oft
:ntlernan had spoken of was traceable to the Cam-
irinonsi.d..ered it'twinfuoluise, rather than to the railway directors. He
much better if the lion. Member for
"se would "be
the debate Postpone his resolution, either by adjourning
Air, at; withdrawing it till a future occasion.
siona of "Withdrawing
called attention to the difference in the deci-
Miss' e Committees of the House and the Railway Corn-
Mr. 11OR
loners, and w of opinion that some means should be
ad°Pted to procure uniformity.
cure .
hA ' RISON said that during the last two years there
a. ueee forty millions devoted to railway speculations, and this
y
Year also a very large sum was required. When in addition to this
the expenditureou for the famine in Ireland was taken into conside-
ration,ld be found to be quite impossible for them to go
on in
it w
thatexpenditure much longer. If they proceeded in this
way, he would ask how were their manufactures to go on ?
The capital would be all abstracted from its legitimate course,
and though large manufacturers might be able to carry on
their business. small men would be completely ruined. The
only remedy which they could apply to this state of things was
to reduce the profits of capital invested in these undertakings,
to the same level as that embarked in other undertakings.
Instead, however, of any measure being taken for that pur-
Ituaes every interference of the Legislature was in the contrary
direction. Some one must suffer for this in the long run, and
the• sooner they attempted to arrest the evil the better would it
IC for the country. He was very indifferent whether his
"°o• Friend's resolution was carried, but he thought the dis-
cussion it had produced would be of great advantage as it
Would call public attention to the subject.—( Hear.)
eAlr• HORSHAM thought that when the immense amount
te;:. capital which was to be expended on railways was con_ .
urillfo
ed—being 160 millions within the last few years, and 80
ns the present ear—some measures should be adopted to
Prevent so large an abstraction of it from the undertakings in
Agislation, he
Zhieh it was legitimately embarked. Feeling that the Go-
iernmet were about to adopt measures in respect to railway
could not support the proposition before the
Montrose and he hoped the Hon. Gentleman the Member for
rose would withdraw his resolution.
trine r' would
ATE merely rose to protest against the doe-
should
ropounded by the Hon. Member for Inverness, that they
al interfere to regulate the profits on railways. He was
3treshed to hear such a doctrine deliberately enunciated. .
of thra,N.IORISON explained. He had never said anything
HAIr 4N4lpti.
—WDEGATE regretted if he misunderstood the
roads entlernen. He considered that the proposition he
sixelliwas to reduce the profits on railways to a level with other
Ayr, a,,li,°nB, and if that did not
vra,WLORISON,' interruptincr, slid that what he stated
othW'at the profits on railways mshould not be larger than any
virsind of speculation.—(Hear, hear, hear. )
fit MITCHELL said that the expenditure on railways was
th,„, from trade and manufactures, and on that account he
ate 'got that measures should be adopted for preventing Its
rtion front these interests.
(lair' STUART said he was very much struck at the course
tt. rgatnent pursued by the Hon. Member for Bridport. Was
ue Hon. Member a free trader? Did he not think every-
was at liberty to divert his capital to what purposes he
'ed ?—(lronical cheers.) What was the course the Hon.
le" ether took on the Corn Bill ? Why, it was likely that he
„It!ted just that capital might be directed into particular.
l'intiels• Now it was evident it was so, for the. Hon.lllem
direction
now, preferred a course if Legislation interfering with the
'urection of capital.—(Hear, hear. )
Mr. TRELA WNY said free trade was good, but
carriedthat
a parti-
cular case rested merit
case too far. Capital on railwaysfre
on its own
was entirely sunk. Nothing
could be recovered except s' and they had
m the dividends, and in many
cases there could be no dividend, because the capital was
swallowed up, and was still insufficient for the purposes to
which it was applied.
Mr. AINSWORT
H thought that railways gave employ-
ment, and prevented the capital from going out of the
country.
Mr.'HUME replie
d—lie was not at all surprised at the
speeches of the three Hon. Members who had spoken last, for
they did not understand the subject.—( ronical cheers.)
but the Hon. ember Bridport (Mr. Mitchell), and the
lion. MemberM or f
near him (Mr. Trelawny), were perfectly
sound. Why, if he could prove that a number of men, who
projected a railway, with a capital of 4,000,0001., put a bonus
of 3,900,000 t. into their pockets, and he could prove, and
would prove it, then capital would rapidly run in such direc-
tion. He had been challenged that night for not bringing
for-
ward his motion earlier. H
His motion was presented and laid
1) I°re a Committee last year, anti but for the time of the
'"'sign, it would have been brought forward He admitted,
with the Chancellor of the Exchequer, with whom he never
agreed, "'ls and with a Noble Lord, that the motion was per-
hapsof tooh simple a character, and it might be well to
post.
Z 5 It, that some more general Act might be brought in for
th' ni ht week.
therefore object. He had only proposed this as a step ; he,
tt,he must protest against any being formed.
13, proposed adjourning this question to . is g
411 e debate was then adjourned.
Committee
Dar VAN HUNIE said next Monday he would ask a ques-
tion „VAN DIEMEN'S LAND.
that on
tnteotion of h
the • e oeorte.e
ve a repre-
th N bl LdhM mber for London, whether it was
rresentativ e Vanj • en's Land, or any other of the
coloni e system to tem
r ..Ma'esti;s Government to gi
es,

RAILWAYS.
Mr.
!!idence takenE said that he would move for a reof th
before the Committee of the Glasgopw,ort
D ume-
Irtes, and Aberdeen railway.
Lord J, BILL AND PRISONS BILL.
Als-ord js RUSSELL said it was his intention to
Administra-
tingmove,ori
the second reading of the Poor-lawan
ontctnglanA) Bill before the other orders of the
.( "Of thed
"145 Y next he proposed to take the consideration
Non' Bill before the other orders.
c, DIPLOMATIC RELATIONS WITH ROME.n the
order Of the day that the House go into Committee
ori the Loan Discount Bill,
Lord the desired to Crown a question to the Noble
ord the First Minister of the , whether the Govern-
ent had an v intention of placing the Italian States on the
°air" footing as other European States, as far as regarded di-
plomatic relati 3
theLoird J. RUSSELL said that he perfectly concurred with.
liberallon. Member's observations as far as they related to the
desire Policy pursued by the present Pope; and it was his
country
to see more formal diplomatic relations between that
e and England. He had seen with very great pleasure
twilhieevoluhrsee which the present Pope had pursued—( Hear.
Italy, He
would very much tend to the happiness of
that It He should have no hesitation in saying that ke thought
4 wou'd be desirable to have diplomatic relation with the

Court of Rome. But the question was one exceedingly in
tricate—intricate in point of law, and as to policy, likely to
excite considerable discussion. The law, as it at present
stands, is extremely doubtful ; there are some words in the Act
of Parliament to which it is impossible to give a strict legal
interpretation, and, therefore, as the law at present stands
it would not be advisa ,le to send an accredited representative
to Home. At the present late period of the session, he did
not think that they could introduce a Bill to make this law
clear. He could not introduce such a Bill, but he did hope at
some future time to legislate upon the subject, and he did
think that it would be most desirable to establish more formal
diplomatical relations.
LOAN DISCOUN.T BILL. .

Lord JOHN RUSSELL moved that the House do go into
Committee upon the Loan and Discount Bill.
The Marquis of GRANBY said that he felt that he should
make some apology to the House for venturing to address them
upon such an important subject. He conceived, however, that
the question for discussion was not to be confined to the pro-
positions of the Chancellor of the Exchequer, but that they
should take a more extended view, and see how far the law of
I f 44 had reference to the subject. It had been admitted on all
hands that the distress was excessive. On that subject he
would read a letter from Mr. Foster, of York, in which it was
stated that the distress in the country was very great, and that
not fewer than 9,000 operatives in one part of the country
were out of employment. In another 433 mills were working
short time. This. distress had taken place under the law of
1844 ; it was said then that it was impossible to foresee what
would b._ the evils which would spring from it. It was true
that the vessel of the state swam gallantly en when all
was calm, but the first moment a storm arose she did
not answer her helm. The Bill of 1814 was intended to be the
helm, and while there was no want of its guiding power, all
went well, but when the moment of peril time, it had been
found wholly inoperative. It had been said, how could all
these evils be foreseen ? It was asked, could the potato failure
be prophesied, the scarcity of corn foretold, and the speculation
in railways been prevented. The lion. Member for Shrews-
bury had presented a memorial on the subject, so had all the
eminent bankers of the City, but they did not receive any atten-
tion. He begged the House to consider the distress the present
currency policy would insure. The mills it would stop, the
lsbourers it would throw idle, the commercial and trading em.
barassments it would occasion. If they did so, he was sure they
would see the importance of a change. He had in his possession
a return of the raw cotton in the ports of London, Liverpool,
and Glasgow in 1845, 1846, and 1847, the bales of cotton were
1,624,744 ; in 1846, 1,576,804 ; and in 1847, only 1,323,944.
There had been imported between the months of January and
the 30th of April, 1845, 727,784 bales ; in 1846, 501,107; and
in 1847, only 487,154. At the present time there were no
stocks en hand to meet any extra demand that might spring up,
and therefore for some time there was no relief to be expected
from such a quarter. What was the function of money but to
facilitate exchange? and if so, when population increased, and
property enlarged, might not also the circulating medium so
expand in the same ratio? But the Bank Act of 1644 pre-
vented this, and said whatever the exigencies of the country
may be, it would not allow the currency to be increased, unless
a certain amount of gold was in possession. This, too, was
stated by a Government that was obliged to make issues on
Government securities.—( Hear, hear.) In 1845, they had
heard a good deal about the great benefit the free trade measures
would produce. Look at the state of the country now. A great
variety of duties had been taken off in pursuance of the
free trade theory, and the result was not to increase the
importation of real necessaries of life, but to lead to a great im-
portation of mire luxuries, many of which had abridged the
field of labour at home. The excess of such imports in 1817,
as compared with 1845, was 4,333,792/., in official value. Such
had been the result of their free trade policy, America was
enabled to get a higher price for her provisions than any other,
and therefore they could not judge of their free trade by the
case of America. He considered that the Noble Member for
Lynn had spoken out the true policy which ought to be pur-
sued, when he said—protect your own industry, protect your
own manufactures. He considered the truth of that sentiment
was daily proved, and no matter what eloquence opposed it..
He hoped that the Government would listen to the voice of the
intelligent and industrious people of the country, by extending
the currency by repealing the Act of 1814.
The CHANCELLOR of the EXCHEQUER said that
the main portion of the Noble Lord's speech was directed
against free trade, but he forgot to take into calculation how
long free trade had endured with unexampled prosperity to
the country. For it was not until last August when they
began to import corn that gold began to flow out of the
country.—(Hear, hear.) The Noble Lord could not say that
their produce was diminished by the Act of last year.—(Hear,
hear.) Of course not; well then, he would ask him, how
would it stand with them had not these restrictions been taken
off. He would not follow the Noble Lord into the extensive
field of argument, into which they had been invited to enter
The Hon. Member opposite had asked him to give a pledge.
that in no case whatsoever would he call upon the Bank for de-
ficiency bills. Now he would not make any such promise. It
is perfectly true that the question on which the country was
intereted was that of the currency, the maintenance, or the
non-maintenance of the Act of 1844. On that question, the
Right Hon. Member for Tamworth stated most freely to the
House, that no affeclon for his own offspring should induce him
from giving a full consideration to the question, He had not the
slightest objection to such a discussion, and no doubt it might
be well to bring it before the House ; but the question of re-
pealing it had never entered, and he trusted never would
enter into the contemplation of her Majesty's Government.
and when he gave it the most unshaken support, 'he then sat
upon the opposite side of the House.—(Hear, hear.) But he
did give it his firm support because he had come to a deep-
seated conviction that the Bill did carry in it the sound prin-
ciples on which the currency was to be based. He was placed in
the situation of Chairman of the Bank Committee, and they
had examined before them some of the ablest men in the coun-
try. There opinions were carefully examined, and he entered
the Committee without any prejudice on one side or another,
but he did leave it impressed that the principles of the Bill were
sound. In that opinion he remained unshaken; and as to the
expediency of that Act, he was more and more confirmed by
the discussion which had taken place, because nothing could be
more apparent then the extraordinary discrepancy of opinion
which existed amongst the advocates of its abolition. The
Hon. Member for Birmingham said, the measure was indis-
pensable for carrying out the Act of the year 1819,
and if we are to satisfy him we are to repeal the Act
of 1819 ; and then we get back to the year 1797.
dangerousatTi
f eht
eme
ry ni htcsaodur
,ndrpo silvereuncertainA Another
sos t
ottathwnhe standard
oaar
what
ido ot hnre.
shouldnpse,
la nothingl
e e
sec
t(tc:ai
recommended
ruit
eof
nbo
the
he
edGm
laweotohr e-e
-al.
adoption of free trade in batonkring, which means unlimited
issue. He ought, however,
issue
was permitted
to
.tho case of America
permitted with every pos-
7u,ard, whenbut
unlimitedwhere
it is
endedthe universal suspension of
eSiniabsillesBp3gayments, and very general bankruptcy of the Union.
tlhtewirasetxiortecfatairtiofootr
with regard
rGegeanrtdlemtoentohpe posite, when they found
measuresi of 1844 not
e of the House
realised, to turn round to blame them on his d
for holding out expectations directly the converse
hrso of what they
really did hold out. He was very much
at the charge of the Hon. Member for lluntingdon
surprised
with respect to the conduct adopted by Governmet
with regard to the loan. If the contractors of that
loan were deceived, they must have deceived themselves
as
the Government had made them perfectly aware of their inten-
tions. His object was to effect the arrangements connected
with the loan, with as little disturbance to the monetary affairs
of the country as possible. He did not assent to the proposal
of the contractors to spread the loan over a longer period of
payment, and to give a larger amount of discount. Circum-
stances had, however, changed since then, and he
had made the proposal now before the House, to
give a larger amount of discount, that there might
be a larger balance in the Exchequer before July next.
The Noble Lord seemed to think that the pressure might have
been foreseen. Now, everybody knew long ago that the pro
bability was that there would be a large importation of corn,
and that it must to a certain extent cause a drain of gold.
But be (the Chancellor of the Exchequer) doubted whether
even so late as February or March last any one anticipated the
severity of the pressure which was experienced in April. It
had been stated that the present contraction in the circulation
was occasioned by the existence of deficiency bills. But he
should like to state to the House what on former occasions of
pressure had been the amount of deficiency bills, and compare
it with the amount of accommodation afforded to the public in
the way of discounted bills. The House would see that during
the two severe pressures which occurred in 1837 and 1839,
both being coincident with the payment of the dividends,
there was a larger amount of deficiency bills, and a smaller
amount of accommodation by the discount of bills, than at
present, and yet we never heard of any such extraordinary
outcry against the existence of deficiency bills as was now
raised. The periods he would refer to were the 10th of
January, 1837, the 15th of October, 1839, and the 10th of
April, 1817. On the 10th January, 1837, the amount of circu-
lation, including 1,000,0001. of Bank post bills, was 18,700,0001.
Outstanding deficiency bills, 4,800.000/., and private securi-
ties, 17,900,000'. On the 15th of October, 1839, the circu-
lation was 17,600,0001.; deficiency bills, 4,300,000/. ' • private
securities, 13,000,000/.; and on the 155th of April, 1847, the
circulation was 20,400,000/.• deficiency bills, 2,400,030/. ;
private securities, 18,000,00J/1 Dating a week later in each
of these three periods, he found that in 1837 the circulation
was 19,000,000/. ; deficiency bills, 4,300,000/.; private secu-
rities, 17,000,000/. In 1839, the circulation was 17,700,000/4
deficiency. bills, 4,200,000/. ; private securities. 12,100,000/. ;
whereas, in the corresponding week, of April, 1847, the circu-
lation was 20,242,000/. ; deficiency bills, 1,300,000/. ; private
securities, 17,000,000/. Thus, comparing 1839 with 1847, the
circulation was nearly three millions higher in the latter than
in the former period, the deficiency bills two millions less, and
the private securities five millions more. He thought, there-
fore, that they had attributed a great effect to a
very small cause, when they stated that the amount
of private accommodation had been very much re-
duced on account of the existence of these deficiency bills.
denied some charges which had been combatted in that House
as having been made against the Bank of England by the ad-
vocates of the measure of 1844, but he denied those charges, as
they had never been made by the Government. The Hon.
Member for Shrewsbury was right in principle with regard to
the circulation of 18;S6, 1839, and 1847, but he thought the
Hon. Member for Shrewsbury, and the Noble Lord the Mem-
ber for Lynn, were inconsistent with regard to the statement of
the operation of the measure of 1844. The one said that the
Act had the effect of contracting the circulation, and the other
said that had it been in operation in 1839 it would be wholly
inoperative. Now he did not think that both the Honour-
able Gentleman and the Noble Lord could bath claim the
benefit of the different views they took of that measure.
What then was the professed objects of this Bill? It was in-
tended to regulate the paper in reference to the metallic cur-
rency. This being the professed object of the Bill, if what had
happened under special circumstances, might have happened
with a purely metallic currency, then it had effected as much,
and even more, than it professed. If, under the same circum-
stances, which had existed for the last eight months, they had
had a pure metallic currency, or if the gold had gone direct
from the Mint, and not from the Bank of England, there
would still have been a drain of gold, as there had been from
the coffers of the Bank, and there would have been no more
in the pockets of the people- He was rather surprised
at an assertion made by a Noble Lord about the con-
vertibility of the coinage. lie did not know how to
treat it, for it was hardly intelligible.—(Laughter.) Why,
convertibility, when used by any one, meant that for a pound-
note the holder could at any time receive a sovereign in gold.
No one who used the word could for a moment suppose that
there should always be the same amount of gold. What was
meant by it was, that a gold sovereign could be got in ex-
change for a one pound-note ; and that was the principle of the
ro af n
paperteei n g thato ir
rt ho
le
ar
tei
os
oh
_cm
al dst
ihgboeoeualat
irdasonenbct
ee.ueNrailetentyi
nuoaetblqel
Act of 1844, which was founded upon the Act of 1819, gua -
bfourt
tphrea cptai
rctaile--o
itahra
views
eorf myiriaeclfrooetrnloyr
Birminghamamount
ofgold
when
(Mr. Spooner )about the standard of:
brought forward a measure which could
carry out his views,
perhaps it might be possible to discuss them. The lion
Alember for North Warwickshire, who did not hold the opi.
nion of the Hon. Member for Birmingham, maintained the
standard had been fixed by the Acts of 1844 and 1819. The Act
ogfoildBc4oirt4oanglye
; retghuolaAteedt
of the
Bratdioid of
not
d paperom much more. circulation tFoorthioe
1817 the faith of Parliament was pledged, and the old standard
was practically restored in that year. But suppose the Hon.
Member's ideas were put to practice ; suppose that 100 grains,
instead of 123 grains, were adopted; that a pound should be a
dollar; he did nut mean to say it would pass for a pound,
because if the people on the other side of the Atlantic agreed
to create a currency of 123 grains of gold, they would
expect in exchange for cotton, or any other commodity,

not what might be called a pound, but 123 grains of gold.
os tno ookf
his
se plan, f substanceforgot
thatfor thethe
sßheaadlolyw,thaend Hinosne.ekGinegntltehme
andowhole value of our exchanges would be altered, and that in
America not the stated value of gold, but its actual intrinsic
Gentleman
value as metal, was looked at, and so considered. He stated,
in introducing the subject, that no effort on the part of the Go-
vernment would remove the embarrassment wilic`a existed in
trade, by altering the currency. The Government had
been stated to have shown rant of decision;
but he conceived that they had acted promptly, and clearly
stated their views on the subject. The Government had no
intention to alter the Act of 1844. What was the cause of
the suffering in the coo ntry? There was, for instance, the
high price of cotton, which the Noble Lard said an alteration
of the currency would retrieve; but this was a most extra-
ordinary argument. When high rates of interest rendered
money scarce, the Hon. Gentleman the Member for Bir-
mingham (Mr. Spooner) said this was a proof of a derange-
ment in the currency ; but this was a great mistake, as a large
quantity of money and notes had been in circulation at
a period when rates of interest were exceedingly high,
awl rice versa. If there was a deficiency of capital from any
cause, capital would not be supplied by an issue of 1/. notes or
s'. notes. Those would only furnish circulation, not clpital.
It would be a fraud upon the House and the country to
endeavour to show that capital could be supplied by
an issue of notes. The great pressure upon the country
was the want of food, and the great quantity of money
required to purchase it. There had not only been a deficiency
in the harvest of this country, but the deficiency had spread
itself almost over the whole of the Continent of Europe. The
consequence was, that England was not the only customer in
the food market, but France and Germany, Belgium, and
portions of Prussia, wore looking to the United States for
supplies of; corn. Then came the ouestion as to how these
imports of food were to be paid. No doubt for a time they
must be paid for in gold.—( Hear.) But eventually manufac-
tures would be taken in exchange, for no country world go on
be-
come The e
xt the
ai
nn tgeerse swt
eorfe
already America
hteog impn ninogr tt ghono (flas
importing unless it exported. Indeed it would very soon o
voannvdahnleottogothldis.
country. By the quotations received by the last packet from
America the exchange had risen from 1064 to 107, which was
actual par.—(Hear,)
It had been stated in the early part of
the debate that the stock of goods in this country was far from
being large. If that was the case so much the better for
the manufacturers. He readily admitted that symptoms
of improvement had latterly manifested themselves, but he felt
hat he should be wanting in his public duty if he did not warn
he House that there were hard times before them. The
Noble Lord opposite had given it as his opinion that this
country ought to be not only independent of foreign corn, but
that all exportation of home-grown corn should be prohibited.
A greater mistake could not be committed than prohibiting the
exportation of corn. So long as those who imported corn into
this country were at liberty to export it, so long would this
country be the depot of corn for the whole continent. But if,
on the other hand, we prohibited exportation, corn instead of
coming here would be carried elsewhere, and we would not be
able to obtain it when we wanted it, at any price. If, in ad-
dition to the pressure caused by the late deficiency in the crops
of the country, they were to increase it by adding uncertainty
in all commercial transactions, by altering the value of the cur-
rency, they would have an amount of distress and pressure
which nobody could calculate, and which would require all the
energies of the British people to sustain.—(Hear- )
Mr. HENLEY said the Right Hon. Baronet, who had just
sat down, had, at the beginning, in the middle, and at the con-
clusion of his speech, attempted to direct the attention of the
House from the real question at issue, by speaking of the
standard of value of 1817, just in the same way that fishermen
mudded the water when they did not want people to know
what they were doing.—.(!fear and laughter.) He would
dispatch that part of the subject with this remark, namely,
that a man had now to pay 20s. for what only ought to cost
him 15s. Now, with regard to the question of the currency,
there could be no doubt that there never was a greater
absence of speculation in this country, than was to
be witnessed at the present moment, while trade
could hardly ever have been more depressed. The
people wondered, looking at this state of things, upon what
ground Government was justified in locking up nine millions of
gold in the Bank of England. ( Hear, hear.) He thought the
explanation of the Right Hon. Baronet to the House was very
unsatisfactory and confused. He did not make anything like
a clear distinction between the issue and the bank-
ing departments. The real question before them, and
which they had to consider was, how to meet the
present state of the currency and whether the bank
should be allowed to issue any other securities than gold ?
A great deal had been said of the danger of runs being made
on the Bank of England for gold, if no restriction was im-
posed. Now, in all his experience, he never knew a single
instance of a run upon that institution.—(Hear, hear. )
There was, therefore, no danger to be apprehended in that
direction. What they wanted was an issue of what might be
called small change, for the real circulation of the country
were bills of exchange and cheques. By these all the great
operations of the country were conducted. Now, to limit this
note or small change circulation to fourteen millions was per-
fectly absurd. Supposing there was another bad harvest would
the Government still cling to this restriction. Depend upon it
the country would soon call on them for an explanation
and they must be prepared to look the question fairly in the
face. With a second bad harvest they would be forced to break
through the provisions of this Act. He opposed the Bill in
1844, when it was proposed, and he had looked with great
doubt upon its working ever since. Still it was passed by a
very strong vote of the House, and be submitted to it ; but
now he called on the House to reconsider the step it had
taken, and act on a more liberal policy.
Mr. SPOONER moved the adjournment of the debate.
After the pointed reference which had been made to him, it
was impossible he could allow the question to pass without oc-
cupying the House for a short time.
The CHANCELLOR of the EXCHEQUER had no desire
to deprive the Hon. Member of an opportunity of speaking, and
if the House agreed, he had no objection to an adjournment till
to-morrow. It was important that they should go on with the
Bill as quickly as possible, in order that it might pass the other
House of Parliament before the holidays.
Lord G. BENTINCK thought that the Government were
not entitled to throw upon his friends the responsibility of
postponing the discussion on the poor laws, fixed for Monday.
The CHANCELLOR of the EXCIIEQUEII did not
mean to throw any blame upon Hon. Members on the other
side of the House ; all he meant to say was, that if the debate
were resumed on the Monday, it would be necessary to take
the Poor law Bill on the same day.
Mr. BANKES said an opinion was very strongly enter-
tained by many Hon. Members on both sides of the House,
that this Poor-law Bill might be, without injury to the country,
withdrawn altogether; he saw no reason, therefore, why they
should get on with this Bill.
Lord JOHN RUSSELL said that if the House consented
to take a stage:that night they might bring up the report on
Monday, and the discussion might take place on the third
reading on Tuesday.
Mr. SPOONER was satisfied. One day was the same to
him as another.

The CHANCELLOR of the EXCHEQUER said that
he would endeavour to bring it forward at an early hour on
Tuesday.

The House then resolved itself into Committee, and the
several clauses of the Bill were agreed to.
The House resumed.
In answer to a question,
Lord J. RUSSELL said he thought Government was
pledged to bring on the Poor-law Bill on Monday.
Mr. WAKLEY said the beet course would be to withdraw
the Bill altogether.

Lord J. RUSSELL said he certainly should persist in pro-
ceeding with the Poor-law Bill on Monday.
The Bill was then passed through committee, and the report
was then ordered to be brought up this day.
The reports of the Turnpike Roads (Ireland) Bill, and the
Lunatic Asylum (Ireland) Bill were received.

York and Newcastle and Newcastle and Berwick Railways

Amalgamation,
Newcastle and Berwick (East Coast Line, &c.)
York and Newcastle and Newcastle and Berwick Railways

and North British Amalgamation,
Newcastle and Berwick (Cramlington, &c., Branches).
The Select Committee to meet on Tuesday, June 1, at
half-past twelve.
A Committee consisting of—Mr. T. Duncombe (Chair-
man), Viscount Milton; Mr. Alitcalfe, Mr. Goring, and Mr.
Gardner, to whom they hare referred the ißills comprised
in Group No. 32, viz.:—
Manchester, Sheffield, and Lincolnshire (Station at Sheffield

—No. 2),
Manchester, Sheffield, and Lincolnshire (Branch to Chapel-

town, &c.)
Manchester, Sheffield, and Lincolnshire (Sheffield Canal
Purchase),
Midland ( Masbrough and Normanton Stations Enlargement),
Sheffield, Rotherham, Barnsley, Wakefield, Huddersfield, and
Goole (partial Alteration of Levels, &c.
The Select Committee to meet on Tuesday, June 1, at one.
A Committee consisting of—Mr. Young (Chairman),
Mr. M. Milnes, Marquis of Granby, Mr. Grogan, and Mr.
Hastte, to whom they have referred the Bills comprised in
Group No. 8, viz.:
Liskeard and Launceston Branch,
Sutton Barbour Improvement Company (power to the
London and South-Western Railway Company to sub-
scribe thereto),
Taw Vale (Deviations),
Taw Vale Railway and Dock,
South Devon ( Extension and Amendment),

Cornwall and Devon Central and Plymouth.
The Select Committee to meet on Friday, June 4, at half-
past twelve.
A Committee consisting of—Colonel RoHeston (Chairman),
Mr. Horsman, Mr. Gregory, Hon. J. Lindsay, and Mr. Hussey,
to whom they have referred the Bills comprised in Group
No. 14, viz. :
Lynn and Ely, and Ely and Huntingdon, and Lynn and
Dereh am Amalgamation,
Eastern Counties (Lynn ;and Ely, and Ely and Huntingdon,
and Lynn and Dereham Railway Lease),
Norfolk (Norwich to Aylshatn, with a Branch to North
Walsham).
The Select Committee to meet on Friday, June 4, at half-
past twelve.
A Committee consisting of—Right Hon. 11. L. Corry
(Chairman), Mr. Pusey, Mr. A. B. Hope, Sir G. Smyth, and
Mr. Halsey, to whom they have referred the Bills comprised
in Group No. 30, viz. :
Great Northern (Isle of Axholme Extension),
Great Northern (Deviation between Grantham and 'York),
York and North Midland (East Riding Canals Purchase),
York and North Midland (Knottingley Branch),
York and North Midland (Hull Station and Branches),
Axholine (from Leeds and Selby Railway, &c.)
The Select Committee to meet on Friday, June 4, at one.
A Committee consisting of—the Hon. E. P. Bouverie
(Chairman), Mr. R. Clayton, Sir R. Price, Mr. Hollond, and
Mr. Rashleigh, to whom they have referred the Bills com-
prised in Group No. 38, viz. ;---
North-Western (Skipton, Casterton, and Sedbergh Diver-

- .
mons),
Wharfdale (Skipton and Cayley Hall Deviations),
Liverpool, Manchester, and Newcastle-on-Tyne Junction
(Alteration of Main Line and Hawes Branch),
Northern Counties Union Railway Deviation.
The Select Committee to meet on Friday, June 4, at one.

A Committee consisting of—Viscount Clive (Chairman),
Mr. llugdale, Sir W. Feilden, Mr. Ewart, and Mr. Walker,
to whom they have referred the Bills comprised in Group
No. 10, viz. :
Eastern Union (Manningtree to Harwich),
Eastern Counties (Ilford to Tilbury Fort and Southend),
Ipswich and Bury St. Edmund's (Branch from Ipswich to
Woodbridge),
Eastern Counties, Purchase of the North Woolwich Rail-
way, icc.
Harwich and Eastern Counties Junction Railway, &c.
The Select Committee to meet on Friday, June 4, at one.
Select Committee on Group No. 29.

...
Lord E. Bruce and Lord A. Conyngham discharged ; Mr.
John Neeld and Mr. Dickinson selected, and added to the
Committee.
Select Committee on Group No. 37.

Hon. 0. Duncombe discharged ; Sir J. Winnington
selected, and added to the Committee.
Select Committee on Group lco. 46.

Mr. Adderley and Mr. E. Heneage -discharged ; Lord E.
Bruce and Hon. O. Duncombe selected, and added to the
Committee.

HER MAJESTY'S STATE BALL.
The Queen gave a State Ball last evening at Buckingham
Palace, which was very numerously and brilliantly attended,
the company including the Royal Family, the Members of
the Diplomatic Corps, the foreigners of distinction at present
in town, the Ministers and Officers of State, the Ladies and
Gentlemen of the Royal Household, and the principal
nobility and gentry.
The splendid suite of State saloons and the picture gallery
were all opened for the reception, and were most brilliantly
illuminated with magnificent lustres of cut glass filled with
wax lights, and also with chandeliers and candelabra—the
two ball-rooms exceeding the other apartments in splendour
and brilliancy, each of these rooms containing numerous gold
branches with wax lights round the aides, in addition tos
several large cut glass lustres.
Choice exotics, and plants of the greatest beauty and rarity
were arranged in the recesses of the different saloons.
gwhetreedpur
prepared
aarnedd thefor libber ary,s al p
t ure The
ggallery,randand
grand
accommo-
dation of the company.
Soon after nine o'clock the guests began to arrive at the
staircase
Palace. The Royal Family alighted at the private entrance
in the garden, and were conducted to the yellow drawing-
room, where her Majesty and Prince Albert received their il-
lustrious visitors.
wh'aasl
The Foreign Ministers, Cabinet Ministers, Ladies and
Officers of the Household, and Privy Councillors, alighted at
a temporary entrance in the garden, extending across the
terrace of the Palace,
i and leading into the library. The
general company alighted at the Equerries' entrance in Pim-
lico, where an enclosed platform had been erected in front of
the lonic portico sufficiently capacious to admit of three
carriages setting down at the same time.
All the visitors (with the exception of the Royal Family)
were conducted up the grand staircase into the grand draw-
ing-room and the picture gallery.
The Ladies costumes, new for the occasion, were composed
of the richest and most costly fabrics in silk and satin of the
most elegant design, many of them remarkable for the ex.
seeding beauty of the material in texture and colour. Some
worei,h
edresses s e
so f
were
ee ofn stth e s
pgl
erenadtiedslty
beauty, and most
enormous value.
ornamented with
diamonds, pearls, and precious stones, and the head-dresses
almost universally displayed magnificent ornaments of the
same valuable and brilliant description.
The Queen wore a very
obfr i lrloi
enst,s.s
mHdearr Mt
oa j etshtoys'es head-dressnmagnificent costume. The dress
was of blue gauze, over blue silk, and tulle, and was trimmed
with roses panachees, white and
pink. Diamonds were in-
serted the roses, and the dress was also ornamented with
silver, and
velvet,
ts, trimmedbaving e withscb i
ofr red
them velvet a
with diamonds.
Her Royal Highness the Duchess of Kent appeared in a
very splendid costume. The dress was of white figured silk,
with
of red elvre
0 the dress, w aasnfdo ranl 'send
ornamented of a wreath
The front, from the top to thet was ornamented with
bows diamonds in the
ndsilver
centre; the stomacher was composed of brilliants. Her Royal
skirt, lace.
Highness's head dress consisted of feathers, red velvet and
silver lace, and diamonds.
The gentlemen appeared in uniform or in Court dress.
The Diplomatic Corps wore their respective national cos-
tumes ; the members of the Ad • istraio , officers
of n and the offirs
ann
of the Royal Household, their gala costumes,covered with gold
embroidery; the Officers of the Army and Navy, the
Lords-
Lieutenants of Counties, the De " and the
uty-Lieutenants,
Officers of Yeomanry, in their Pdifferent uniforms. In all
cases the members of the several Orders of Knighthood wore
their respective insignia, and several of the principal knights
displayed their ensigns set in brilliants.
His Royal Highness Prince Albert wore a Field-Marshal's
uniform, with the ensigns of the Most Noble Orders of the.
Garter and the Golden Fleece. His Royal Highness also
wore the stars of the Order of St. Patrick, the Thistle, and
the Bath.
His Royal Highness the Duke of Cambridge was habited
in a Field-Marshal's uniform, and wore a brilliant star of
the Order of the Garter, and also a diamond George of great
value suspended from the riband. The Royal Duke also
wore the ensigns of St. Michael and St. George, of which
Order his Royal Highness is Grand Master.
His! Serene Highness the Prince of Leiningen wore the
uniform of a Bavarian General of Blue, turned up with red
velvet, embroidered with gold and a baldrick of silver. His
Serene Highness wore the ensigns of the most noble order of
the Garter.
'The Duke of Wellington appeared in a Field-Marshal's
uniform, wearing the Riband, Star, and Jewel of the Garter,
the Riband and Badge of the Golden Fleece, and the War
terloo Medal.
The Yeomen Guard lined the Grand Hall and Sculpture
Gallery, under the command of Captain Sadler, the Exon in
Waiting. The other Officers of the Corps present were Sir
George Houlton, the Ensign ; Captain Kincaid, Exon ;
and Lieutenant-Colonel Fitz-Maurice, K.iL, Clerk of the
Check.
Iler Royal Highness the Duchess of Kent arrived soon
after nine o'clock, attended by Lady Augusta Bruce, Baroness
de Speth, Sir George Couper, and Lord James Murray.
Their Royal Highnesses the Duke and Duchess of Cam-
bridge, and Prince George, were attended by Lady Augusta
Cadogan and Colonel Sir William Davison.
The Royal Family were received by the Hon. Misses
Stanley and Dawson, Maids of Honour in Waiting; Admiral
Sir Edward Codrington, Groom in Waiting ; Lieutenant-
Colonel Hon. C. B. Phipps, Equerry in Waiting; and Captain
the Hon. A. 11. Gordon.
Among the earlier arrivals were the Belgian Minister and
Madame Van de Weyer, and Mr. Charles Drouet, the Ne-
therlands Minister and Mr. Stratenus, the United States'
Minister and Mr. Brodhead, the Portuguese Minister and
Baroness de Moncorve, M. de Moraes Sarrnento, Chevalier
de Ribeiro and M. de Soveral, the Spaaish Minister, M.
and Madame de Tacon and Chevalier de Pedroreus, the
Brazilian Minister and Madame Marques Lisboa, the Danish
Minister and Countess Hilda de Reventlow and M. de Bielke,
the Wurtemberg Minister and Baron and Baroness de Linden,
the Prussian Minister andhis Serene Highness Prince Lowen-
stein, the Sardinian Chargé d'Affaires and Count d'Ail.
the Swedish Chargé d'Affaires and Baroness de Rehausen,
g
the Buenos Ayreau Minister, the Peruvian llinister
Madame Iturregui, the Russian Minister and Baroness de
de
Brunnow and Mademoiselle Olga de Lechner, the Earl and
Countess Delawarr, Captain the Hon. Mortimer Sackvilleld
West, the Earl and Countessof Shrewsbury, Sir Harry Smith,
G.C.8., the Duke and Duchess of Norfolk, the Earl and
Countess of Morton, Lady E. Douglas, Viscount Mahon,
Sir
Henry and Lady Wheatley, the Misses
Wheatley, Viscount
and Viscoun
• tess Combermere, Hon. Miss Stapleton Cotton,
•
the Attorney-General and Ladyand Miss Jervis, Lord and
Lady Beuvale, Sir James and Lady Clark, Earl of Arundel
and Surrey, the Countess Spencer, Viscount Sandon, Sir
Thomas. 11. Acland, Lord DalmenY, Mr. Tufnell, M.P.,
Countess of Minto and the Ladies Elliot, Sir Edward and
Lady Disbrowe and the Misses Disbrovre, Mr. and Lady
Blanche Balfour, Visconntsly, George and Lady
Grey, Duke and Duchess of n
Beaufort, Mr. Culling Smith,
Earl and Countess of Rosebery, the Ladies Primrose,
Earl
of Radnor, the Ladies , Beaver
ie Right Hon. J. C. and
Miss Herries, Sir de Lacy and Lady Evans, Sir Frederick
and Lady Pollock, and the Misses Pollock, Earl and
Countess of Haddington, Earl Somers, Duke and Duchess of
Roxburghe, Earl and Dountess Howe, Viscount Beresford,
Lord and Lady Marcus Hill, Lady C. L. Gower, Earl and
Lady Clementine
Countess of Jersey, _ Villiers, Viscount
Duncan, Hon. Sir Edward and Lady Cust, Sir Edward and
Lady Bowater, Earl and Countess of Kinnoull, Lady Sarah
Hay, Earl of Cawdor, Marquis of HuntlY, Earl and Countess
Brown low,
lo Duke and Duchess of Buccleuch, Sir George
,
Anson, Lord and Lady Sondes. Sir Frederick and Lady
Thesiger, Mr. and Mrs. Thorne, Earl of Liverpool, Lord and
Lady Langdale, Sir James and the Misses Wigram, the Issniel.
Mayor and the Lady mayoress, EFI de-Grey, Lord HeSies-
bury, Mr. H. Reeve, Right lion lox Mettle, Lord and Lady
George Lennox, Right Hon. W. E. and Mrs. Gladstone,
Lord and Lady John Ilay, Colonel Cavendish, Hon. C. C.

and Lady Catherine Cavendish, Mr. and Mrs. Brand, Earl of
Warwick, Marquis Headfort and the Ladies Taylour, Sir
John and Lady Macdonald, Mr. N. Macdonald, Colonel and
Lady Catherine Buckley, Lord Elphinstone, Colonel and
Mrs. Bouverie, Hon. Mr. and Mrs. John Talbot, Viscount
Falkland, Earl of Lincoln, Sir Lancelot and Miss Shadwell,
Lord Frederick Fitzclarence, Marquis and Marchioness of
Exeter, Lady Martins, Sir Andrew Barnard, Major Hon.
Robert Boyle, Earl Fitzhardinge, Marquis of Anglesey,
Lady A. Paget, Earl and the Ladies Fitzwilliam, Sir John
and Miss Hobhouse, Earl and Countess of Wilton, Mar-
quis and Marchioness of Ailesbury, Sir Augustus and
Lady Clifford, the Misses Clifford, Lord Cantilupe, Lord
and Lady Byron, Honourable Frederick Byng, Earl of
Aberdeen, Sir Robert Gordon, Colonel and Mrs. Corn-
wall, Honourable Mr. and Miss Lyttelton, Right Honourable
T. and Mrs. Milner Gibson, Sir James and Lady Parke,
lion. Miss Parke, Hon. Charles Howard, Earl and
Countess of Fingal, and the Ladies Plunkett, Marquis and
Marchioness of Douro, Earl Ducie, Lord and Lady Granville
Somerset, Right(Hon. H. Geulburn, Viscount and Viscountess
Jocelyn, Sir James Macdonell, Colonel Sir William Davison,
Mr. and Mrs. R. Ormsby Gore, Captain Meynell, and the
Earl of Sheffield.

At a quarter before ten o'clock the Queen and Prince
Albert, accompanied by their loyal Highnesses the Duchess
of Kent, the Duke and Duchess of Cambridge, Prince George
and his Serene Highness the Prince of Leiningen, left the
Yelloil Drawing-room and entered the Grand Saloon, which
was nearly filled with company.
The august party was preceded by Colonel the Hon. C.
13. Phipps, Equerry in Waiting; Captain lion. A. H. Gor-
don, Equerry in Waiting to the Prince ; Sir Edward Cod-
rington, Groom in Waiting ; Captain Franck Seymour,
Groom in Waiting to the Prince; the Master of the House-
hold; Lord Waterpark, Lord in Waiting; 'Viscount Clif-
(len, Lord in Waiting to the Prince; the Groom of the
Stole to the Prince; the Lord Steward, and the Lord Cham-
berlain.

Passing through the Grand Saloon, the visitors dividing
on either side, her Majesty and her Royal Consort en-
tered the Ball-room, the quadrille band playing the Na-
tional Anthem. The Mistress of the Robes and the Lady
and Maids of Honour in Waiting followed the august
party, and, with the distinguished party, also entered the
Ball-room.
The Lord Chamberlain, by her Majesty's command,
formed a quadrille, and at five minutes before ten o'clock
the Queen opened the ball with his Royal Highness
Prince George. His Royal Highness Prince Albert and
the Duchess of Sutherland were the opposite couple. His
Setene Highness Prince Edward of Saxe Weimar was also in
the quadrille.
Mr. Henry Barnard's quadrille band, who were stationed
in this apartment, played the "Nino" quadrilles.
This band afterwards performed the following pieces:—
Quadrilles—" Bondman," "Matilda," by Coole ; "`estate,"
" Exiles de Siberie," by ,Basisio ; " Cavendish," composed
expressly by Tinney. Waltzes—" Orientalen." by La-
bitzky ; " Goodwood," " Caroline," " Rachael," by Tinney ;
" Queen of the Ball," by D'Albert. Polkas—" Evelyn,"
"Belfast," by Tinney ; "Helena," by D'Albert; " Narcia-
serf." by Labitzky, &c.
The company continued to arrive without intermission
until half-past ten o'clock, thronging the whole of the spa-
cious saloons, upwards of one thousand visitors being present,
the invitations exceeding thirteen hundred.
After dancing had been continued for some time in the
Ball-room, it was commenced in the Throne-room, which
was also prepared for dancing, and in which a second qua-
drille band, that of Mr. Weippert, was in attendance.
The following quadrilles, waltzes, and polkas were danced
in this ball-room :—Quadrilles—" Les Canatiens Parisiens,"
Basisio ; " Tantiv'," Weippert ; " Sappho," Jullien.
Waltzes—" Jenny Lind," Basisio; " Les Perles," Labitzky ;
" Rita," Earl of Belfast. Polkas—" Princess," Weippert;
"Bruce," Oakey ; and Galop, "Beaufort Hunt," Weippert.
. Refreshments were served to the company during the even-
in in the Green Drawing-room.
The supper was served soon after twelve o'clock, in the
State Dining-room. The range of tables displayed a gorgeous
assemblage of gold plate. and in the centre of the end of the
apartment was a buffet also filled with articles of gold plate,
but of a rarer and choicer kind—more of the class that
would be properly denominated objects of taste and vertu than
applicable to the purposes of the banquet. Along the
tables were massive centre pieces, candelabra, vases, wine-
coolers, and epergnes. Some of them, from the designs of
Flaxman, displaying forms the most classical and beautiful,
all of them of great elegance and the most admirable work-
manship. To relieve, as it were, the mass of magnificence,
at certain distances along the tables were placed the most
beautiful flowering plants, in golden vases. The appearance
of these bright flowers among the mass of gold plate had a
most charming effect. On the buffet surrounding the centre
shield were ranged vases, cups, chalices, tankards, and salvers
in profusion, some of them glittering with precious stones,
others enriched with exquisite carvings, all of them objects of
great interest independently of the costly materials of which
they were formed. Wax lights were skilfully interspersed on
the buffet and contributed much to the brilliancy of the dis-
play. Amidst this most superb collection, in which the ge•
nine of the artist and the utmost skill of he workman were
concentrated in a material the most beautiful and valuable,
were placed two simple water lilies, in reduced copies of the
Warwick vase in gold, with an effect which it is very diffi-
cult, if not impossible, to describe.

COURT4CIRCULAR.
Ms Royal Highness Prince Albert presided yesterday af-
teinoon at a Committee of the Commissioners for Promoting
and Encouraging the Fine Arts in the Rebuilding the Palace
of Westminster. His Royal Highness arrived at the New
Palace, attended by Captain the Hon. A. H. Gordon, shortly
before three o'clock.
The commissioners present were the Earl of Aberdeen,
Viscount Mahon, Mr. Hallam, and Mr. Wyse ; the secre-
tary, Mr. Eastlake, was in attendance.
The meeting broke up at six o'clock, when Prince Albert
took his departure.
The Duchess of Kent visited the Queen at Buckingham
Palace yesterday.
General Prince Castelcicala, the Neapolitan Minister, was
prevented attending her Majesty's Ball, in consequence of
the death of the Archduke of Austria, father of the Queen
of Naples.
Mr. Thomas Brown had an interview with Earl Grey yes-
terday at the Colonial-office.
Mr. G. C. Lewis had an interview with Sir George Grey,
at the Home-office yesterday.
Dispatches were received yesterday at the Colonial-office
from the Cape of Good Hope.
Mr. Watson had an interview yesterday with Lord Cla-
rendon, at the office of the Board of Trade.

NEW ZEALAND.
PORTSMOUTH, FRMA r.

By the arrival of her Mjesty's steam-sloop Driver, Com-
mander C. 0. Hayes, we have news and papers from New
Zealand to the 23th of January, and Rio to the 27th of
March.
We extract the following from the Ncw Zealander of
January 23d, a paper published at Auckland :
" Since our last publication his Excellency the Governor
has returned from the Bay of Islands, but the particulars of
his, visit we have as yet been unable satisfactorily to learn.
It would appear, however, that Heki was afraid to confront
the Governor on board the steamer, and consequently, no
personal interview took place between them. We understand
fears were expressed by Heki, that if he went on board the
Driver, he might not be able to come ashore again when be
pleased. We trust the settlers, who had an opportunity of
seeing him, disabused his mind of any such wrong impres-
Sion. The natives generally who were along with him be-
trayed considerable feelings of alarm, and the sudden appear-
mice of her Majesty's ship Castor a day or so after the
steamer's arrival tended to heighten this apprehension. Some
little speechifying took place among the natives themselves,
and Heki dealt largely in scriptural quotations; the burden of
his song, however, was peace. As he found, after remaining
some four days, that no notice was taken of him, and that
he failed to attract the Governor to his presence, the follow-
ing morning at break of day he and his followers launched
their canoes, and took themselvess oft It would have
been more satisfactory had Captain Grey and the fanatical
Master lleki met ; but the latter personage, finding that
lie is no longer the man of importance he was, thought he
might acquire a little spurious fame by having it in his power
to say the Kawana came to him. lie has been disappointed,
and, like a petted child, behaved accordingly. Our loyal
and most excellent native friend, Thomas Walker, is now re-
siding at Russell, a substantial house built for him by the
, Government."

Our Wellington papers are up to the 6th instant, and it
appears from them that the southern settlers are unanimous
in their approbation of Captain Grey's government. The
same feeling prevailed at Auckland, where a congratulatory
address, couched in the most flattering terms, had been pre-
sented to the Governor, on the seventh anniversary of the
foundation of the colony.
The rate of exchange at Rio, when the Driver left, was
28%.