The Sun.
London, England, 1824-05-29 00:00:00

THE LATE MR. SMITH IN DEMERARA.

Petitions were presented, praying the House to inquire into
the trial of the late Mr. Smith, missionary at Demerara, in the
following order -
By Sir William Guise, from Stroud, Gloucestershire; Mr.
Jervoise, from a parish in Hampshire; Mr. Ald. C. Smith,
from St. Alban's; Lord Uxbridge, from Anglesea ; Mr.
Butterworth, from Saffron Walden, and Chatham ; Mr. W.
Smith, from Norwich ' • Mr. F. Buxton, from Camberwell;
Mr. S. Cooper, from Sligo ; Mr. Newman, front Exeter ;
Lord George Cavendish, from Ingatestone ; Lord John Rus-
sell, from Hitchin, Baldock, and Richmond Mr. Griffith,
from Denbigh.; Sir Thos. Lethbridge, from irome ; Colonel
Davies, from Worcester ; Lord Belgrave, from Chester and
Northwich ; and Mr. Rumbold, from Great Yarmouth.
Other petitions on the same subject, were presented from
Axminster, Haverfordwest, Atheritotie; and Arundel.
Mr. T. WILSON presented a Petition from the underwriters
of Lloyd'sCoffeehouse;tikitinst the Marine Insurance CoMpany
Bill. - - • - ' •

Mr. SYKES presented a similar petition from Ship-owners
of Hull.

presented a petition from a parish in Berk-
shire,
Mr. LINDSAY presented a petition from the curriers of
Mr.
in AlPavNou CrK of the Beer Retail Bill.
Perth, against the Hides and Skins Bill.
Alderman HEYGATE presented a petition from Thomas
Brown, of Potter's-fields, against the South London Dock Com-
pany's
Mr. MABERLY, in consequence of the had state of the
pavement in the metropolis, gave notice that he would, early in
the next sessions, bring all the paving acts before the consider-
ation of the House.
MARINE INSURANCE COMPANY BILL.
Mr. F. BUXTON moved the order of the day for the second
reading of the bill.

The SPEAKER put the question, that the bill be read a
second time.

Mr. GRENFELL said,- that it was decidedly his implession
that Counsel were to be heard in this stage of the bill.
The SPEAKER explained,
_that Counsel were ordered to
attend on the second reading of this bill ; but until the House
had decided that the bill should be a read a second time, the
period at which they should be heard could not arrive.
Mr. GRENFELL was ready to pursue his opposition to the
Bill, but he wished that the House should first have an oppor-
tunity of hearing the arguments of Counsel.
The question for the second reading was Then put and car-
ried, after strangers had been-ordered to withdraw.-
Counsel were called in, when Mr. Sergeant BosaliQuET,
Mr. Sergeant TADDY, Mr. HARRIS9N, Mr.BIARRYATT, Mr.
ADAM, Mr. CROSS, and Mr. A i.iiEusow, appeared at the
Bar, in behalf of various parties interested in the measures
Mr. Sergeant Bos A N ail ET was first heard against the Bill;
but owing to the low tone of voice in which he' announced his
clients, we were unable to learn for whom he appeared.
.Mr. HARRISON was next heard on behalf of the London In-
surance Company, against the Bill.
Mr. MARILYATT argued at considerable length in support of
the interests of the Underwriters at Lloyd's.
Mr. Sergeant TADDY appeared for the Insurance Brokers at
Lloyd's, in whose behalf he adduced a variety of arguments.
Counsel having concluded,
Mr. F. BUXTON rose, and declared that the arguments of
the Learned Gentleman had no way altered his opinion. He
agreed that the shareholders of joint stock companies ought to
be liable to the last shilling of their property ; but upon that
point there was no dispute; the House, the Law Officers of the
Crown, and his Majesty's Ministers, being all of one opinion.
Upon the general policy of allowing insurance by joint stoeje
companies, he was borne out by Adam Sthith, who, though no
, friend to such companies in the main, approved of them as ap-
plied to that particular object. But a stronger authority in
favour of the principle than the opinion of Adam Smith, or
any other writer, was the universal practice of those countries
in which the trade of insurance was unfettered. In France,
to a very considerable amount ; in America, almost entirely ;
in Holland, at Petersburgh, at Copenhagen, and at Ham-
burgh, the business of insurance, to a very great extent, was
carried on by joint stock companies. As a proof that it was
felt how much more desirable the security
was of a joint
stock company (in which all parties ' were ultimately liable)
than the security of a chartered company, or of single' indi-
viduals, the agent of a company at Paris had lately been in
England, procuring insurances, upon the very ground that k
he could offer a security better than, by the law of England,
we could give at home. He (Mr. Buxton) hid not it question
that, if once joint stock companies were formed, England (with
her high credit and commercial character) would obtain alnipst
a monopoly of the insurance of the world: And what objec-
tion could be urged against the Bill, beyond indivithial inte-
rests ? Men's houses and goods,. and their EY* were already
insured by joint stock companies; and, in fact, such com-
panies for marine insurance did exist, though contrary to law,
and subject, of course, to great privation and inconvenience.—
With respect to the mere question' of eicpence, the saving by
wishing to effect an in-
surance with such companies would be considerable; At
and the agent (at a
spurreasnencet,
jan mix)erpc,ll)oann,t
vain
agent,ottheetcoouhnistry
cost of ten per cent.) employed a broker. The broker was,
necessary now, because there was to be a dealing with many
individuals ; but a,public company would be dealt with directly,;
and tbe ageney would be ipared. In the matter of 's settling,
the advantage tO be expected was incalculable. As matters
stood, an insurance was done at Lloyd`i upon a particular ship.
She sailed upon a long voyage; and, in two or three years, I
perhaps, intelligence was received of her being lost. The in-