The Sun.
London, England, 1847-01-21 00:00:00

instances the poor were solely dependent upon the privates
resources of the euarrlians and the resident gentry. —( Hear.)
Mr. LEFROY felt constrained to bear his testimony to
the wretched state of the people of Ireland, and to
state that within the last fcw months he had had ample
opportunities of witnessing the anxiety of the landowners to
mitigate the distress with the aid of their own private funds.
(Hear, hear.) He must say, in justice to the Government,
that he had heard their statements in reference to Ireland with
the utmost satisfaction. Credit was clue to them for the can-
dour with which they admitted the prevalence of the distress—
and the fairness with which they allowed that whatever
works had been recently adopted in Ireland were fully autho-
rised by the exigences of the times. ( Hear, hear.)
The Lord Lieutenant and the Secretary for Ireland,
had exerted themselves to the utmost to mitigate the
evils, and had entered cordially in.() all the schemes that had
been submitted to them for the purpose. All those who had
the power of co-operating with Government in the present
state of Irish affairs, ought readily to come forward and do so.
He could hear testimony, with the Hon. Gentleman who last
addressed the Hou.e, to the difficulty of collecting the rates in
Roscommon. and he had not the least hesitation in believing
that the same difficulty had been experiencod, and the reme-
dies resorted to in Castlebar. The Hon. Member for Bath,
on the previous night, suggested measures for meeting the
present exigencies, which would have the effect of ex-
tinguishing the landholders of Ireland.—( Hear, hear. )
But would their extinction improve the condition of the
Irish people. In many instances the landlords had given up
their rents, and others of them had abandoned many of their
comforts, and reduced their establishments for the purpose of
investing large sums of money in the purchases of Indian corn,
for the benefit of the poor. He did not pretend to say that
those who thus invested their money, expected it would be a
loss, on the contrary he was convinced they would be enabled
to remunerate themselves by selling the corn to the
distressed poor.—(C ice of « Hear, hear.") The corn
dealers throug'hout Ireland, however, had been filling
their pockets at the t xpcnse of the people, and steps he had
mentioned, as being taken by the landlo ds, were the only
means by which unjust and cruel speculations in food could be
put a stop to.—( Hear, hear.) He did hope, therefore, that no
more would be heard about extinguishing the landlords, but
that sue'a measures would be adopted for advancing money to
the landlords at reasonable rates of interest, to be invested in
reproductive works, such as the improvement of the land, and
thus enable them not only to meet all the liabilities the mea-
sures would impose upon them, but to derive some profit from
the money so borrowed. ( Hear, hear. )
Mr. P. BORTHWICK promised to give the measures of
the Government his careful consideration, and after giving
them such partial consideration to decide upon them without
reference to party feeling or party bias. He did not agree
with the reasoning that hael been advanced in suvort of the
violation of the Treaty of Vienna in the suppression of
Cracow, nor did he think those were the best friends of the
Government of France or of England who were silent upon the
subject of the Montpensier marriage, on the ground that the
entente cordiale which existed between the Govern-
ments of the two countries was indispensably neces-
sary for the preservation of the peace of Europe.
It was indispensably necessary that it should be shown to the
people and Government of France, that in this country there
was a reunion of all sections and parties in the sentiments ex-
pressed in reference to the Montpensier marriage. it was very
bd
ee reaebnle
ihneotwdoo ucob, ut.
ttrtii
ea tbhuetre it sslhi should
nboet
ban.
merei tree/
yte
bceotcdiaeelne
other parties and factions of these two great powers, but be-
tween the people.
Mr. PLUMPTRE expressed his hope that peace would not
be interrupted.

an unopposed Gas Bill is not a heavy Bill, and would be very
little lessened in expenses by having the clauses consolidated ;
the cost of printing would be somewat diminished.
Speaking of the expense, can you form any estimate what
proportion of the :expense of such Bills is for witnesses, and
what for fees of the House, and what for other expenses ?—I
cannot state the ex&ct proportion, nor am I a competent party
to do that, for I never see the solicitors' bills,- but I should
say that in a contested case, the fees of the House and those
which more properly come within my own department, viz.,
the preparation of the Bill, the clauses, and so forth, form a
very small proportion indeed of the large expense which is in-
curred.
Do witnesses form a large expense ?—The attendance of
witnesses will be a large sum ; the employment of counsel is a
very large sum ; the daily copies of evidence, and the drawing
up and preparing it, involve a very large caper diture.
Have you any means of knowing what is the ordinary fee
of attorneys attending in London for the sake of Private Bills?
—I would rather they would answer that question themselves;
they knew it better than we do; it does not come within my
province.
There is a regulated fee for the attendance of Parliamentary
agents ?—lt will vary in cases of opposed or unopposed Bills ;
but we do not profess to charge always for attendin Com-
mittees, unless there, are clauses under discussion. I" should
find it impracticable to attend all the Committees I have,
during the investigation of the preambles ; and therefore we
generally consider that to come under the solicitor's province
while the evidence is being taken, and then upon the clauses
we attend ourselves, and we vary our charge. Sometimes we
get two guineas. If I were there the whole day long fighting
clauses, I should charge five. . . . .

from the Secretary whether in ascertaining the liabilities
attaching to the policies the actual age of the assured had
been taken. There was another point in connection with
the bonus which was deserving of some explanation. Any
holder of a pelicy might select a reduction of premium in-
stead of a bonus. Now, suppose a person to select the re-
duction of a premium on the present occasion, he wished to
know whether he would be able to select a bonus in addition
on the next, and vice versa.—(Hear, hear.) He believed
the last valuation was made up to the 39th June, 1841, and
was anxious to ascertain the number of policies in force on
that day, and the number at present in existence. He also
wished to know the average age of the assured. He asked
for this information on public grounds—(Hear, hear)—and
could not help thinking that the reports of societies of
this description would be much more valuable if they en-
tered somewhat more into the scientific details by which
their operations are regulated. He considered economy of
management one of the most honest and safe principles to
follow; bat in a Company of the magnitude of the pre-
sent, a difference of 1,0001. or 2,000/. a year in the an-
nual expenditure was of little importance compared with
the errors which might be caused by adopting exploded
systems. The sort of information to which he had alluded
would be very useful, and in Germany a noble example had
been set in this respect. At Gotha, not only was that done,
but they published the lives assured, the number of deaths,
the periods at which the policies were effected, and they
even went 84 far as to give the names of the individual&
lie would in conclusion ask one other question—namely, the
number of deaths during the last five years, and whether
there had been any material difference between the actual
number and the number anticipated?—(Hear, hear.)
The SECRETARY felt great pleasure in answering the
questions which bad been put by the able and intelligent
gentleman who had addressed the meeting. With respect to
the first question, he was not aware of any other
proprietary office which had adopted the principle of
laying by one-third of 'the profits. There could be no
question that that principle had been a great drawback
to the Company with respect to the bonuses which had
heretofore been declared ; and it was a matter of astonish-
ment to those who were acquainted with these matters how
the Company had got on so well. Notwithstanding this
great difficulty, the Company had done its full share of bu-
siness when compared with other companies which had not
adopted this principle. All difficulties had now been got
over, and the plan of laying by one-third of the surplus
would do more to increase the bonuses on future occasions
than any other that could have been adopted. To prove
that this system had acted beneficially, he might refer to
the report of the Equitable Society, in which, after giving I
examples of its large bonuses, he found this statement:—
"Among the causes which have contributed to these impor-
tant
results is the reservation at each decennial division of
one-third of the suplus fund for future appropriation." It
was, therefore, quite evident that the prospects of this Com-
pany for the future were pre-eminently above those of all the
other companies which had not been obliged to adapt this
system, and every person connected with it might look for-
ward with perfect confidence to extremely satisfactory bo-
nuses. With respect to the mode of valuation, it was stated
in the report that all the policies had been valued separately;
and he would state in addition, that all the lives taken
as healthy lives had been valued at the increased age at
which they had arrived on the 30th of June last. With
respect to the diseased lives, the directors had adopted a
eourse contrary to that of every other office which had taken
such lives. If they had taken a life at 40, whose real age
was 30, they had always. to all intents and purposes, con-
sidered that life as a life of 40; so that a much larger sum
smlhwvhaiiaataushr
errespect laid
theahs bynpesdaebera aet
begged
togaopne
policy*
tetcoeie3m,t
question
abteuhas tntt,
thatcoae claim
rtaneitrlmche
might
eepht
dbehtadochapi
sltnn,neuuti
euniitral tnstgaenb,
uony,yhmtteli
oglbadietchhohrt
eneabrd:euce
office.rct
jbati
ieekone
enncn
eol
iafonNi
plaotrnbhweey_e:
e
f
geri numberNao tfenitosihioin,
eliwsansaotsndei:tvihtihe
exist-
encesrp
ieaogrnat
,yrd interested.
N:taseo yt4eh a:r3snBu. ago,_mA bnewnor •
aeohsaferr3.
policies.,) question
T ;h
e
books was 48. The number of deaths expected within the
last year was 106; but he was happy to say the actual
ttwehl
aai existed
littlet
great
nrdeadbt ee st wioaneteluons
.n
consequence.
t—hleo(nf. Hi
the ea r ,
enormoush e a r . )
number which had occurred was only 53, being just one-half.
d
—(Applause.) This was rather more favourable than the
general average; but the same sort of mortality had existed
In answer to a question by Mr. STREETER,
h duringcompetition
l n Sdt Eeh endeavoured
vßfoEive
years,
SECRETARY said,
to
asi
the last ten or twelve years, several of the moreoirrerdeecre officesnt
ot keep
e enfoepsr
themselves alive, they had, on the first occasion, instead of
dividing the profits up to that time, anticipated the future
profits from the business upon their books. This was an ex-
tremely fallacious node of proceeding, and must in time
prove ruinous. It would, no doubt, have the effect of mis-
leading some persons, by giving to the office a highly flourish•
ing appearance, when that was not really the case. This
Company had, however, laid by rather too much than too
little, and had not encroached on any future profits.
Mr. NEISON had not the least hesitation in saying
that the mode of valuation which this society had rejected
would have had the effect of anticipating future bonuses,
and he was justified in that opinion by an essay read before
the Philosophical Society of Edinburgh, by one of the most
scientific writers on the subject.. One feature connected with
this Society deserving of great eemmendation was the mi-
nuteness of' detail with which the valuations were made.—
( Hear, hear.) He should feel obliged if the Secretary would
state the total amount assured by all the policies.
The SECRKTARY-2,657,000/.
A PROPRIETOR inquired what portion of the accumulated
50,0001. the proprietors would eventually obtain?
The Creeteereer —One-sixth, as at present.
The PROPRIETOR—And the assured ?
The SECRETARY—Three-sixths, and eventually nearly
five-sixths, arising from the reservation of one-third.
Dr. Rem inquired the average number of proposals for life
assurance during the last five years, and the amount of money
included in those proposals?
The SECRETARY—The average annual number of proposals
was 557, and the amount proposed by them was 339,6001.
Mr. WrifswAw said the report amf the explanations which
had been given were so satisfactory, that every one interested
in the affairs of the company must feel obliged to the direc-
tors for the manner in which they had conducted its affairs.
—(Applause.) He wished particularly to impress on the
notice of the proprietors and the public the importance of
the last paragraph in the report, which invited the assured
and the public to examine with attention the state of their
' own affairs. If there was one mode of inspiring confidence
better than another, it was that of giving on all occasions
every pessible information, and showing no wish for con-
cealment.—(Hear, hear.) He agreed in the suggestion, that
it would be desirable in future reports to give a general out-
line of the principles on which the society's calculations were
founded. . . _ _ _ _

The object of the question is to see whether it is not im-
possible to form any estimate of what the expenses of a Bill
may be without knowing what the opposition may be, and
what the duration of it may be?—Quite impossible.
(W. Blamire, Esq.)
How are the expenses of carrying Inclosure Acts into execu-
tion provided for ?—The expenses of carrying the Inclosure
Act into execution are paid by the parties availing themselves
of the Act, assuming that the lands are inclosed; the Com-
missioners have no power to levy expenses until an inclosure
has been effected, and therefore if the Commissioners send
down an Assistant-Commissioner to investigate a case which
eventually ends without inclosure, his expenses would fall upon
the consolidated fund.

How are the:expenses of witnesses provided for?—The parties
at whose suggestions they are called pay them.
But if the Assistant• Commissioner thinks it right to call wit-
nesses, in order to satisfy himself, that would form part of the
general expenses?—Such expenses would be charged to the
general account.

[ADVERTISEMENT.]
PROCEEDINGS of the CLERICAL
MEDICAL, AND GENERAL LIFE ASSURANCE
SOCIETY.

(As reported January Bth, 1847.)
An extraordinary general meeting of the proprietors of
this society was held yesterday at the office in Great Russell-
street, for the purpose of declaring a bonus out of the profits
which have accrued from the general business of the society
during the five years ending June 30, 1846. Amongst the
directors present were Dr. Moore, G. G. Babington, Esq ,
Rev. A. B. Clough, Thomas Davis, Esq., Oliver Hargreave,
Esq., and Clement Hue, M.D.
Dr. MooaE having taken the chair, Mr. Pinckard, the
secretary, read the report of the assets and liabilities; the
former of which amount to 639,7971. 6s. 5d., and the latter
to 484,555/. Os. 5d., leaving a surplus of 155,242/. 6s.
The CHAIRMAN then stated that his colleagues had au-
thorised him -to lay before the meeting the following report :
" In accordance with the provisions of the deed of consti-
stitution, the directors have called the present meeting, for the
purpose of laying before the proprietors and the assured the
result of an investigation of the society's affairs for the five
years ending June 30, 1846.
"Oa that day the society had been in existence twenty-
two years. An investigation of its affairs was made first in
1831, being seven years from the commencement ; a second
time in 1836; and a third time in 1841. The fourth inves-
tigation having been just completed, the directors have now
the gratification of communicating the result to the meeting.
" In order to present a clear view of the progress of the
society, the directors will proceed to exhibit the present
amount of its funds, together with their state at the last
quinquennial diyision.
"1. The society's Income for the year ending with June,
1841, was 97,900/. ; that for the year ending with June,
1846, 116,300/. Thus, notwithstanding the many de-
ductions which are constantly taking place, on account
of policies terminated by death or discontinued from other
causes, there is an increase in the annual income of the
society to the extent of 18,4001.
" 11. The amount of the property of the society, accumulated
from the excess of receipts above payments, was in 1841,
418,903/., and in 1846 has reached 639,797/. Under the
head of payments are included considerable sums paid
for the purchase of policies, and also to annuitants, besides
the amount which has become due from deaths and every
other demand.
" 111. After deducting the sum required to meet the liabilities
of the society, there remains a surplus of 155,242/. ; while
in 1841 the corresponding surplus was only 89,400/.
" This sum of 155,2424, has now to be dealt with, being
the amount of profit realised by the society.
In conformity with the provisions of the deed, one half
ofthe profits is to be divided among the assured for life, and
one sixth part among the proprietors; but in order to avoid
inconvenient fractions. the directors have resolved to recom-
mend to this meeting to divide the sum of 154,500. This
will apportion to the assured, for life, 77,250/., and to the pro-
prietors, 25,7501. leaving one third of the said profit, amount-
ing to 51,540/., to be laid by and to accumulate as a reserved
fund.

Mr. EWART was aware that the present subject required
the nicest management, but he could not help saying that he
hoped her Majesty's Government would introduce some mea-
sure for the extension of education in this country. He must
express his satisfaction at this part of her Maiesty's Speech
which expressed a desire to preserve unbroken the peace of
the world. Ile was sure that the fee'ing of the people of this
ountry was in favour of peace as long as their natural rights
were not interfered with.—( hear.) Peace was suited to their
commercial character, and to the limited monarchy,: under
which they lived.
Lord G. BEN TINCK begged to offer a few observations
upon what had fallen hem an Hon. Gentleman in reference to
a Noble Friend of his, Lord Lucan. He had the authority of
that nobleman for stating that, during six years, he has con-
stantly resided in Castlebar, and expended, not only the whole
of h s Irish rents, but a large portion of those derived from his
English estates also, in that part of the country. In justice
to the people of Mayo, he must state that they refused only to
pay rates on the ground of the extravagant assessment that had
been made on them, it being no less than 400.0001. it was
levied at meetings where there were numbers of persons with
shillelaghs in their hands.—(Laughter.) When the rates were
not levied, Lord Lucan himself paid the poor-rates of the
parish.—(Hear, hear. )
Mr. P( !ULETT SCROPE said that he had derived his
authority from the daily papers. Perhaps the Noble Lord
would inform him, as he was on the subject, as to what had
been alleged of the landlords sending over paupers in such num-
bers to Liverpool.
Lord G. BEN TINCK was informed that it was not the
landlords of Ireland wbo exported the paupers in this wholesale
manner. The steamers coming over here every year short of
hands, induced the proprietors to bring over paupers to Liver-
pool, in order to compel the parish to send them back.
The Address was then read and adopted.
CORN LAWS. . _ .

Lord JOHN RUSSELL gave notice of a motion for to-
morrow, that the House do resolve itself into a committee to
consider the corn laws.
The House then adjourned at Nine o'clock, till to-morrow
(this day.)

EXPENSES OF PRIVATE BILLS

IN PARLIAMENT.

The effects of the expense of carrying private Bills through
Parliament are shown in the annexed quotations from the
minutes of evidence taken before the House of Commons last
session, and recently issued by order of that House. Mr. E.
Chadwick is the first witness:—
. _

"This division will give to the proprietors a bonus of 51.35.
per share, and to the assured a sum of 114,0311., being the
equivalent in reversion to the above amount of 77,250/.
" This sum of 114,031/. will be added to the polices, and
be payable at the death of the respective parties, and will
form an addition equal, on an average, to more than 36 per
cent. on the premiums received during the last five years.
" It may be desirable, however, to remind the assured that
they have the option of having any one or more of the
bonuses to which they are entitled applied in reduction of
their future payments of premium.

In the visits which you have made to different parts of
the country, have you found many parishes and communi-
ties who have been in want of lighting, paving, or water,
but who have been unable or unwilling to come to Parlia-
ment, in consequence of the great expense now attending it?
—A great number of places. In fact, except two or three
towns and the county town, I might say that the smaller
country towns in the whole country are in that position. The
expense of a Water or Drainage Bill, if unopposed, would
e 500!. In the small town of St. Helen's, which required a
Water 8i11,.1 thii.k the expense of the works was 3,0001.,
and the expense of obtaining the permission of Parliament
to erect those works was 1,0001. Consequently, one-fourth of
the money upon whtch the inhabitants will have to pay interest
went for the Parliamentary expenses. In fact, the expense of
obtaining works for drainage of many villages, and rather im-
portant small towns, would espial the expense of laying down
the house drains ; and the expense of a water Bill would
equal the expense of laying down the tenants' water pipes.
When the standing orders require that water shall be sought
by one Bill, and drainage, or the means of carrying away
water, by a second Bill, paving or cleansing by a third Bill,
the fees of the House and the professional expenses of these
Bills mount up, so as to render the expenses prohibitory; the
money expended in procuring Acts under which, in some of
the larger towns, only ineffective and expensive works have
been produced, might have sufficed to obtain good works. The
money expended in Liverpool for the private Act legislation,
the results of which have been desc' ibed to the Committee, it
may be confidently a'serted would have sufficed for the effectual
drainage of upwards of 20,01 D houses.
(T. Greene, Esq., M.P.)
Would you propose that communities should have the power
of ad ipting any of those branches, by the sanation of the
Secretary of State, or whatever department they were under,
on application to him, as is now done with respect to rating?
—lt may be a prejudice, but I. have rather a disposition that
they should be obliged to come to Parliament on those matters;
I think it would be more satisfactory to the country at large
than that it should be vested in any one individual ; and I
think the expenses, which are at present complaine of so
heavily, would he a good deal avoided by having a short Bill,
and by having some better mode of settling the question of the
standing orders.
Would not there be many communities and parishes so poor
as net to be able to incur the actual fees of the House, even
without any of the other attendant expenses ?—I hardly think
that there would be. under the circumstances of improvement
which I think would attend the passing of private Bills ; because
the great expense they have to complain of is not the fees taken
in the House, but in point of fact the heavy charges of the
agents and witnesses brought up.
How would you propose to lessen those expenses of the
agents and witnesses ?—With respect to the standing orders, a
great deal of expense would be saved if, prior to the meeting of
Parliament, some officer of the House were appointed to take
the whole of the evidence upon toe compliance and non-com-
pliance with the standing orders of this House; that officer
would have ample time, beginning a few weeks prior to the
meeting of Parliament, to make an inquiry of that description ;
and he could regulate the time when each party should ap-
pear, so that it should not be the case, as at present, that wit-
nesses are kept in town for a considerable length of time,
because it was impossible exactly to say when a particular Bill
would come under consideration ; but he might arrange the
time, and the parties would be here a very short period; and
lie,
tohshDoii t iar:ty n the whole
in g
o very
brief
of
If
te d
:pace
oa
fy , would
time. be able to complete the
yloppuoptc; oanr
wheresti
od el pt
allah atethh
the witnesses
ahwpaiettrn we
plan,sos ue iedree
bf
neeroai
oh
objectionlae ttteon da
an
nyt
cope ri?ot—e fon ;
but, of course, in all these matters the parties promoting the
Bill ought to pay the expense of the commissionerogfoing into
the country, an des
dti
et
rpaw4brol
ten.
espouse
pfrequiretnhs
rn countryvastaust
b be incurred;
numberitnoe
urinvestigater
ed; commis-
sionersod:
eers
iannddiffeoern
matters,
would be also the objection which I
have stated in my eiamina-
tion b-fore, that there might be a want of uniformity if we
had a vast variety of commissioners in different parts of the
country; and that want of uniformity would ba a very great
evil.

" For the hither information of the proprietors it may be
mentioned that, by the deed of constitution, the Proprietors'
Fund is not to accumulate by the addition of bonuses beyond
50,000/. ; all subsequent bonuses being paid over to the Pro-
prietors.

" The effect of that provision on the present occasion will
be, that of the above sum of 25,750/, 17,000!. will have to be
added to the Proprietors' Fund, which will then have
reached its limit, and the remaining 8,750, being 1!. 15s. per
share, will be paid to the proprietors in cash at the end of
March next.

The SECRETARY said the original draft of the report stated
the exact mode; but the directors thought so few persona
would properly understand it, that it would be much better
for parties to call at the office, where every information would
be afforded.—(Hear, hear.)
The CHAIRMAN, in reply to a question by a proprietor,
said that no party would receive the bonus who had not paid
five premiums before the 30th June last.
Dr. CRUCEILX expressed himself highly gratified with
what had taken place. He was quite satisfied that the di-
rectors had only one object in view—the good of the society;
and if he asked one er two questions, he trusted they would
not be considered as arising from idle curiosity. The first
point on which he wished to ask a question related to the
mode of arriving at the peculiar valuation respecting un-
healthy lives; whether the calculation had been taken from
the lives received first as such, and bearing a proportion and
a relative value; or whether the society had received proper
and regular information with respect to those lives, which
rendered them more doubtful than the general progress of
calculation? He also wished to know whether the directors
had considered another matter, which he had always thought
of great importance—the propriety of an insurer participating
in the bonus, instead of its being added to the policy for the
benefit of those for whom he might have toiled. An insurer
might not be always in a
whatever bonus became due should become the' property
ou
of
the insuring party without receiving it bit by bit in the re-
duction of premium. position to pay, and he thght
The SECRETARY, in reply to the first question, said, that
more than usual care was always taken in admitting diseased
lives, and when they were admitted they were taken at a
corresponding premium. With respect to the second ques-
tion, the directors had no power to act in the manner sug-
gested. Dr. Crucefix did not seem to think the reduction of
premium so important as it really was. To show its effect he
would mention one or two instances. In the sear 1825,
Archdeacon Pott insured for 1,0001., paying
a premium of
861. Os. 10d. This, being the fourth bonus, would not only
have the effect of extinguishing the premium, but of adding
the sum of 176/. to the policy.—(Hear, hear.)
A Pnorairron remarked that this was somewhat extra-
ordinary.
The SECRETARY, in explanation,
said, that the four bonuses
amounted to 400/. By taking an annuity instead, in reduc-
tion of his premium, he would obtain a larger amount than
would pay the premium.
The Rev. E. G. WILCOCKS.—And for the rest of his life
not have a shilling to pay.—(Hear, hear.) alma
the addition to the policy to which be
hadd. He
which ook
The SECRETARY.—Yes, and beyond that t ould be
would mention a younger life, the insurance on
mheheref
m 661. ;tout
place in 1827. The age was 61, and the P
nanoOthier case the
itmm
f
by applying the bonus in a similar marmendd
in-
stance or two, where two bonuses had been given.,o_,_ A life,
aoThatw
would now be reduced to Si. Ile would ju-srteamiuthaenoptrheemr
pa gr
premium
i6o9m, wasii,as inneswu r erde
dionc e
4183
t2o, astaa.
5s . premium I
was was66l.,Ui
Dr. SHEARMAN moved that the account and statements
s ce
andrt a itnhien
contained in the Report be approved.
rhefdeuwcaeds 6t01.41T/.—(he Plieeamr,iuhmeawr.h)ich,lll IS"'
Di".DUNI.AI. seconded the motion.
mtboer had been projected, gnut
rela-
tive position o
maturity. He
offices started within the as
e offices had been equally
but
he believed that 50 had c
Mr. Fo. -myeeef stahidiehs,e,withals
odtteicivrreoousffi,seacoefrssa:
more ood than was con-
vinced, however, they had done
.e
morg
e oe harm to the
present society, for they had once d . . . P bli the utility et
en individuals m
such institutions; and wh
choose made up their
minds to insure, they would naturally old offices which
Mr. IsTetsoN said a greetemnue
gave the best bonus.
h r other
successful. that a majorit
The SECRETARY believed _ yof the old offices
Mr. FOWLES asked whet
had rather receded than gone forward. Many
much bu • of the same
standing were not doing near so mess.
Dr. Hue wished to know numberthe of applications for
po!mcies, and time number of refusals..
The SECRETARY said the number of proposals during the
last five years was 2,784, out of which number 415 were
declined.
A PROPRIETOR—How many were Effected ?
The SECRETARY—For the five years ending June,
the number issued was 1,837; for the last five -cane, 1841,
showing an increase of 55. To show that Societythe3rs
,1,892 ;
progressing, he might add that the number issued during was
last year was 401.—(Hear, hear.) the
The resolution was then put and unani smou l
y agreed to.

" In estimating the amount of liabilities, it is important to
observe that every Policy, together with all other risks, has
been valued separately, and with great care; and there has
been no encroachment upon future pretits; but that a moue
of valuation has been adopted whereby a larger sum is re-
tained to meet such claims as may arise than is usual
with most other offices. This will appear by the following
examples:—

Is it not the fact, that the expense and the inconvenience of
tion, except in cases where parties feel themse grievous opposing a Bill in this House acts as a prohibitielnveusponieovpephossliy-
and individually interested ?—Certainly.
imayt mbaey
n not, under injuriously
T con-
siderablehe w hell tee n communityt
extent, and y et raffteheetepresentsys-
tem,inc be worth the while of any one person in that community
the Bill ? —Certainly.
(J. St. George Burke, Esq.)
.
In the eases of waterworks, or gas. orl suing, or Bills of
that, kind, do you consider that the compliance with standing
spot where
the works are to be ?—Yes, it would be a saving, orders might be proved with less expense on
as far its re-
the
re-
gards the brineing up witnesses to prove it. .
It
would
°uld not be a
very large difference, because you must appoint some official
person to go to take the evidence, and he would have fees, I
suppose, for going and expenses, and I do not know that there
been
would be a great change. The great expense we have
put to in this session and the last, has arisen more from the
enormous glut of business which has prevented our Bills being
taken in due time, and because we have had to wait for days
in the lobbies. with hundreds of witnesses. Now an immense
saving might be effected if one lion. Member would take the
duties of five; that instead of having five Members to investi-
gate whether plans have been rightly lodged, it should be re-
ferred to one single Member, who would be just as competent
as a committee of five.
Then if a plan were adopted by which one person here could
take the proofs, or if it could be done on the spot by a pro-
perly authorised person, that would save a great deal of those
great expenses for witnesses which are now necessarily in-
curred ?—lf one Member were to form a committee for the
performance ea of thiS fluty, it would save expense; except that I
ct. nor does anybody ever expect, to have a repeti-
tion of what we have had this year and last.
When you speak of the comparative paucity o
expas ad
waterworks Bill., do riot you think that the great g n
ense of
obtaining Bills acts as a prohibition in many towns with regard
to their availing themselves of gas-lights and supplies of water,
which they might otherwise find it well worth their while to
establish ?—I do not think the expense is dependent at all
upon the length of the Bill ; that is a minimum proportion of
the expense.
What is the principal expense ?—ln a Gas Bill the expenses
Art. NI, heavy it it. is unoppo•efl ; if it i • ._7 t7L,-,-- ,-! a
,41..:,„, ev,,,.. - rri,ing r,,,!'? ;i,c f.-;,, 4- ~-z~
which run up a bill to a large amount ; the expenses of evi-
dence, the shorthand writer, the committee fees, the House
fees, are all increased by an inquiry before a Committee; but

COMMENCEMENT or THE BANE or ENGLAND.—
one in Holland,
At the time the Bank of England. was established, only
four great banks existed in Europe,,,
in Germany, and two in stirtly,; they were of Ams-
terdam,venice, am Genoa. All but the
One
Hamburgh,
Genoese Bank were formed solely for the convenience
of merchants ; the latter was not only for that general
ehtiantelodei,thefounded fornitilid
afitrnermt
purpose, but was also
emolu-
ment of the indiyidu.a,lepsrtsrliiseitlre)rds in
1694.
The commission
Bank of England we,
was i,sued in the reign of William and Mary, on the 15th
of June of that year. The necessity Of sortie institution of this
kind had been long felt, and Mr. William Patterson had
travelled into several commercial countries, in 1691,
and the following years, to examine into their banking
establi hments. This gentleman had communicated to
Mr. Michael Godfrey the progress and result of his disco-
veries. The original foundation of a public bank is, how-
ever, claimed by Sir. John Briscoe; and the grounds on
which he makes this pretensien are stated in a letter pre-
'- - • '' . . . . -. ~... opp.-:,,:,,,,,,,
,s,
...
___
_.. , ~,,, .. ••....
commenced.—Banker's Magazine.— .t.,„., vi England Was
The Right lion. E. Strutt and Mrs. Strutt, arrived in
town on Tuesday, from their relidence near Derby.

TPIE SUN,'4 LONDON, THURSDAY _EVENING JANUARY 21, 1847.

REVIEW OF THE BRITISH CORN

TRADE.

The value of Wheat has risen day by day for many weeks
consecutively without a single pause, and prices have tiow
obtained an altitude calculated to induce caution on The
part of buyers. Prudent tradesmen consider speculative
' investments at present rates hazardous; and parties who
purchase only in the regular way of business are gradually
restricting their operations, being generally unwilling to
take more than just sufficient to keep their customers sup-
plied. 'When affairs arrive at this position a reaction
usually follows; but, owing to the peculiar circumstances of
the present season, we greatly doubt whether such will in
this instance prove the case. The fact that large shipments
of grain continue to be made from England to Ireland—from
which country, in tho ordinary course of events, we are in the
habit of drawing a considerable proportion of our supplies—
is alone sufficient to upset all previously-conceived notions.
But the singularity of our position does not end here. The
loss of the potato crop in Ireland, and the consequent neces-
sity of feeding several millions of people not generally in the
habit of consuming grain, on so expensive a substitute, is cer-
tainly one very powerful reason for concluding that prices can-
not well recede ; but when to this is added the present state of
France, and other continental countries where the crops of
corn have proved so short as to oblige the different Govern-
ments to have recourse to such expedients as those lately
adopted by the French—first altering the navigation laws
to encourage importation, by admitting flour under flags
of all nations, and subsequently taking off the duties of
grain altogether there are certainly grounds to appre-
hend that it will be necessary to pay very high prices
abroad to induce our continental neighbours to part
with a commodity they stand in such urgent need of
themselves. We are, therefore, inclined to think that,
unless the spring should prove extraordinarily prcpitious,
and the arrivals from the other side of the Atlantic more ex.
tensive than we have reason to calculate on, the value of all
kinds of food will remain high up to the time of next har-
vest. The trade in wheat has not been quite so excited this
as the proceeding week, the very high terms demanded
having had the effect, as stated above, of causing all par-
ties to exercise more than usual prudence in their operations.
But, notwithstanding a somewhat. diminished demand, the
tendency of prices has been steadily upwards ; in proof of
which we shall quote the advance realised at some of the
leading provincial markets :
At Liverpool on Tuesday there was a good attendance of
buyers from the manufacturing districts and from Ireland;
and the quantity of wheat on sale being moderate, rates 6d.
per 701b5., or 3s. 6d. per quarter, above those of that day
se'nnight were obtained without difficulty. Later in the
week a further enhancement of 2d. to 3d. per 70Ibs. was
established, several parcels having been taken on Friday by
speculators, at the price last named.
The reports from the leading towns of Yorkshire inform
us that business in wheat had been more or less checked by
the advance; still, needy buyers had had no alternative,
and had been under the necessity of paving the terms de-
manded. At Leeds, the article was on Tuesday quoted 2s.
to 3s. per quarter higher; and at Hull, on the same day,
the• rise was nearly as great. From Wakefield we learn
that a tolerable extent of business was done there on Friday
in Wheat at prices 2a. per quarter above those of that day
week.

At Birmingham, Bristol, and other towns in that direction
the upward movement has been equally important, although
purchasers have declined taking more than has been abso-
lutely necessary to supply their immediate wants. In the
foregoing observations we have confined our remarks more
exclusively to Wheat ; but wo need scarcely state that all
other articles have participated in the rise. Barley has, in
many parts of the country, sold at the unusually high rates
of 60s. to 655. per quarter, according to quality; and the
scarcity of Oats has now become so great that farmers have
refused to sell this grain altogether, being well aware that if
they were to part with the little they may still hold, they
would afterwards have to pay relatively higher prices to pro-
procure food for their stock.

The advices from Scotland are of a similar character to
the reports from other parts of the kingdom. Not only
wheat, but all sreciee of grain, is rapidly rising there; and
it is certain that no supplies of oats (the staple article of
shipment to the south) can be expected, that article being
worth quite as much, if not more, at Edinburgh as in the
London market.

The accounts from Ireland become from day to day more
distressing, and the temporary decline which a large arrival
of Indian corn caused last week had again been recovered,
the supply having proved inadequate to the demand. With
the people starving in many parts of the island, shipments
of provisions from thence to England are, of course, out of the
question. .

- The arrivals of English Wheat into London have again
been moderate, the high range of prices at Liverpool and
other northern markets having caused the shippers on the
east coast to direct their consignments to those place rather
than to the metropolis. The quantity brought forward at
Mark-lane by land-carriage samples from the home counties
since Monday has also been small ; and the millers' wants
having again become urgent, increased anxiety to get into
stock has been manifested by buyers. The few lots left over
on Monday, principally from Essex and Kent, were easily
placed on Wednesday at rates rather exceeding those
obtained in the beginning of the week. On Friday factors
again raised their pretensions, which checked the demand;
but having scarcely anything fresh up, needy purchasers
were under the necessity of paying the terms asked. In
free foreign Wheat a fair amount of business has been done
during the week, the lower descriptions having been in
request for the manufacture- of meal for Ireland, and
the finer sorts having excited attention for local use.
The continued demand from the other side of the Chan-
nel, and the smallness of the stock remaining on hand,
together with the certainty that no foreign supplies
can for a month or two be calculated on, have all
tended to give an upward tordency to prices, and the
rise since last Monday cannot be estimated at less than,
Is. to 2s. per qr. Prices being now as high, if not higher
here than in France, the export to that country has ceased ;
notwithstanding which, holders of bonded Wheat have con-
tinued to ask prices within is. to 2s. per quarter of those of
free, for parcels under lock. This can only be accounted
for by the supposition that the Legislature may, on the
meeting of Parliament, take off the existing duty of 4s. per
quarter.
The sale of town-made Flour has been more extensive this
week than was the case earlier in the month, which has pro-
bably been caused by bakers having become apprehensive
that the millers may again put up the price : hitherto, how-
ever, the top quotation has remained stationary at 655. per
sack. Ship Flour has been in fair request. and has com-
manded full terms. For American the inquiry has been
lively, and a further enhancement of Is. per brl. has been
pretty generally realised on the best brands.
The arrivals of English Barley have been very trifling ;
and though 12,551 qrs. have come to hand from abroad, prin•
cipally from the north of Europe (from whence the vessels
were dispatched previous to the setting in of the frost), the
high rates of last Monday have been maintained. Very
thin foreign Barley has realised 465., good grinding qualities
505., and for superior English making qualities very close
upon 70s. per qr. has been paid. Such prices are well calcu-
lated to draw supplies ; but the Baltic ports being frozen up,
with litile prospect of becoming free till March, whilst in the
interval nothing of importance can be expected to reach us
from other quarters, we see no chance of a material reaction.
Malt has moved upwards in value quite as rapidly as Bar-
ley, and 90s. per qr. has been insisted on for fine qualities.
The supplies of Oats during the week ending this (Satur-
day) evening amounted to only 4,473 qrs. ; and the receipts
having for several preceding weeks fallen materially short of
the quantity required for consumption, great inroads have
been made on the dealers' stocks—indeed, so bare has the
market become of this grain, that holders have experienced
no difficulty in obtaining very high rates. The extent of the
advance will, perhaps, be better understood by giving the
quotations obtained for some particular sorts than in stating
the rise in shillings per qr. Archangels have sold freely at
365., good heavy Irish at 38s. to 395., and fine Scotch feed at
40s. per qr. and upwards, with more anxiety to buy than sell
at these rates. _

Beans have participated in the general advance; and for
floating cargoes of Egyptians 445. to 455. per quarter, cost,
freight, aisd insurance has been Oven.
Peas have likewise been held at enhanced terms, though
the demand for the latter article has not been particularly
active.
Floating cargoes of Indian Corn have again been much
sought after on Irish account, rand important bargains were
closed on Wednesday and Friday, on terms hardly procur-
able in the commencement of the week.
THE FOREIGN CORN TRADE.
By the Cambria steam ship, we hare advices of recent
dates from North America. Shipments of wheat, flour, and
Indian corn, on rather an extensive scale, were still being
made to England ; but the very high freights demanded
had interfered a good deal with business. The New York
letters are of the 31st of December ; the stock of flour in
store was then becoming very small, and as in conse-
quence of the close of the inland navigation no supplies
from the interior were expected till spring, holders had raised
their pretensions from 12ic. to 25c. per barrel. The ad-
vanced rates demanded had, however, been very reluctantly
paid, and for some days the actual transactions had been
on quite a retail scale; Genessee Flour had been held at
5 dolls. 5614 c. to 5 dolls. 621 c., which with charges added for
buying and storing till spring, and calculated at the ad-
verse rates of exchange then prevailing, wottld make
the cost on board, in English money, 265. to 275. per
barrel. The total exports from New 1 ork during the Saar
1846 had been—Flour, 960,534 barrels; Wheat, 1,200,598
bushels; and Indian corn, 1,243,668 bushels. At Baltimore,
on the 29th ult., the flour trade was dull, and prices had
then rather a downward tendency; the last sales of Howard-
street had been at 4 dolls. 75c. to 4 dolls. 87c., and City-mills'
had also been sold at the latter rate. The export of flour
from that port to Great Britain during the year had not
exceeded 50,000 barrels. From Philadelphia the shipments
had been much larger viz., 360.844 brls. of flour, 223,947
bushels of' wheat, and 272,768 bushels of Indian corn. At
the last• named port business was far from brisk; on the 26th
of December holders of flour generally demanded 4 dolls.
87i c. per barrel, which being rather more than buyers were
disposed to give, only retail sales have been made. Of Indian
corn a couple of cargoes of new southern yellow had been
bought at 57c. to 5Sc. per bushel.
Owing to the non-arrival of the Hamburgh mail of Tues-
day last, our advices from the northern parts of Europe
are not of such recent dates as usual; we have, however,
Dantzic letters of the 9th instant, by the way of Holland,
from which it appears that the continued advance on this
side had had the usual effect, prices having run up quite
as rapidly there as with us. For flue high-mixed wheat
holders had refused to accept below 60s. to 615., and for fair
high-mixed 58s. to 595. per qr. bad been demanded ; whilst
the most ordinary descriptions had been held at 508. to 525.
hand,much h adper qr., free on board, in spring. Rye had been
in-
quired for, and, having come very sparinglyto
realised equal to 425. per qr.
Aetxtt
saidto
from
be
rheemhei3wer -
1 l Baltic
d p o
byao
s the
nsttoo:tktsrheoeef
e supplies
recent
graina accounts
ur on
ts
Rostock, Stettin, &c., it appears that the
in from the
consequence of
growers had been on a restricted scale,
which compaeatively
the first of these ports
barley
the demand had been lively.
little business had been done, though
instant, At the
325. 6d. ; and at
per quarter,- free on board, in
Stettin,wcan'th one samet he 7d
talyi , 3n 1 tsa.
spring.
1,,e1v frozen ovcr. The
Elbe was then comp
At Hamburah,
vere, and the
n
on the 9th of .Tanuary, the frost was se-
transactions in grain since the previous post-day had beets
quite
corn had further advance
quite unimportant, but thed The very great rise which has
prices of both wheat and spring
within the last month taken place in prices here, has placed
quotations of
in the Mediterranean.
At Marseilles, on the 10th of January, common Polish
wheat in this country above those of Mar-
seilles and other places
per qr. free on board; and
li on the spot, might then have been bought at
Odessa wheat, deliverable ifaitllslBaar.ch, was obtainable at equal
to 525. to 545., and superior
Marianopo ,
555. per qr.
From Leg
e h at had been pur-
chasemade
there of 4,000 sacks of Marianopoli w
t equal to about 50s. per qr. free on
Leghorn we have letters of the Bth Jan. ; a
there for shipment,
rise, and prices are now too nearly
t
have undergone a further
to allow of business being done
in and that country
board. In most ofa the French markets wheat and flour
alike this
with advantage.
TTP.niburgh mail of
has been received,
from the Baltic. Wheat was still rising in valve;
;Which we have letters of more recent
dates
notwithstanding z Prem.
the growers were bringing forward
supplies
but
which,
slowly Alar4-lane E