The Sun.
London, England, 1846-01-30 00:00:00

, JANUARY 30 184

spectably connected, and when in Ireland held the rank of
magistrate, and therefore it was very unlikely he would be
guilty of the petty offence laid to his charge.
A man named Bingley, who had been left by the accused
in the apartments to deliver them up to Mrs. M'Donall,
said he (lid deliver the rooms up, and when Mrs. M'Donall
looked over them she made no complaint, then of lost pro-
perty.
Mrs. M'Donall said the statement of the accused was an
invention. If time were allowed, she would produce the re-
quisite evidence in support of the charge.
Yesterday was the day appointed for further inquiry. Mrs.
M'Donall, however, did not make her appearance, and Mr.
Cahill, through his solicitor. applied for a retnthid for a few
days, in order to enable him to get certain papers from Ire-
land, which woald completely exculpate him, and show the
true character of the charge.
Mr. HARDWICK, however, said, as there was no one in
court to press the Charge, the accused must be liberated.

A STEAM-ENGINE BY POST.—Mr. G. Cartwright re-
ceived an order, on Friday week, for a miniature steam-
engine, on the high-pressure principle, for which he sent to
Messrs. Chadhurn Brothers, Sheffield ; and, strange to say,
though the engine had to be built, he received it enclosed in
a letter, by post, on Tuesday morning ! Thu engine was com-
plete in every detail, accompanied by a boiler and a fire-grate
containing fuel. At the request of several of the astonished
beholders, it was kept in motion the whole of Tuesday.—
Preston Guardian.

IMPERIAL PARLIAMENT

HOUSE OF LORDS, Thursday, Jan. 29.
TOLL-BARS (SCOTLAND) BILL.
On the motion of the Duke of RICHMOND, this
Bill was read a second time.
CORN-LAWS.
Lord ASHBURTON, who was scarcely audible in the
gallery, ventured to apologise for the warmth of the language
contained in the petitions which might be presented to their
Lordships upon this subject, considering that the petitioners
believed that their whole fortunes, and almost existence de-
pended upon this measure being rejected. Government would
never be able to carry out the principles so ably advocated by
the Noble Earl. If, indeed, that free trade could be esta-
blished, then he said, as the Noble Earl had said, that it was
the principle of common sense. But how could they, in a
country where such complicated interests existed—a country in
which such artificial systems were fighting against the regula-
tions sought to be enforced by the Noble Lord—how could
they, he said, expect to carry free-trade principles into effect,
despite of this artificial system of Society. It must be recol-
lected that they had, in addition, a debt of 800,000,0001.
on their shoulders ; and again he said, how was it
possible then to carry out the principles of free trade ?
He (Lord Ashburton) should like to have the opinion of a
Committee of Ways and Aleans on this subject. They might
perhaps find it a difficult matter, with diminished resources
arising from the abolition of protection, to maintain the credit
of the country. '1 he Noble Earl had stated that the British
farmer could beat the foreign grower, but they could not fight
the foreign farmer with their hands tied.—( Hear, hear. )
While the men on the shores of the Baltic were paying for
labour 6d. a day, the British farmer was paying 2s. It re-
quired no great skill in political economy to foresee, that so
circumstanced, these two classes could not cope with each
other. The burdens peculiarly pressing upon the British farmer
should be rescinded, for he maintained, whatever might be said
to the contrary, that tithes were unusually oppressive on the
landed interest. Then the poor-rate came more immediately
upon the country, for towns were comparatively exempted.
Much as he admired the general principle of frea trade, he con-
ceived that it would be impossible to establish it in England in
its present peculiar position. They had had no wise man who
had ever said any other thing. If they took
Huskiason, they found him saying, " When it is
not necessary to want to raise sixty millions of taxes then you
will have cheap bread, but not before. So Mr. Ricardo also
admits that on every principle of justice the British farmer was
entitled to compensation. In the present state of the country
it was perfectly Utopian to endeavour to bring about a systetu
of free trade. He did not complain of the League subscribing
money for the purpose of watching the registration of voters,
but he did complain of the League opening, in every county
and town throughout the country, what be might term shops
for the sale of what he must certainly consider fictitious votes.
—( Hear, hear.) The advertisements of the League state that,
for the sum of 401., any person may qualify himself for
a voter in the county elections. As a proof of their
success in this business, they stated that they had
created as many as three thousand votes in one county.
He considered that if the Government did not bring forward
some measure to prevent this wholesale creation of votes, they
would be acting in a very injudicious and improper manner.
Lord MONTEAGLE wished to know upon what doctrine his
Noble Friend founded his statement ? Upon a doctrine which
he had heard elsewhere no doubt, and he ( Lord Monteagle)
had heard it frequently advanced by persons who were most
eager advocates for the repeal of the corn-laws, and who car-
ried in their doctrines with respect to the protective duties,
and with respect to the doctrines of the freedom of trade, just
such arguments as had been used by his Noble Friend, who
had put forward the revenue duties as being obstacles to the
freedom of trade.—( Hear, hear.) His Noble Friend put for-
ward, with his accurate knowledge upon this subject, arguments
which recognised no distinction between a maintenance of
the revenue and a freedom of trade. But protection of the re-
venue he would hold was perfectly consistent with entire free-
dom of trade.—( Hear, hear ) Until we were producers of
tea in this country, and until we were producers of tobacco
likewise, the tea and the tobacco duties had no more relation
to the advance of trade than the state of our foreign relations at
the present moment with India or elsewhere. He would not
refer to the old doctrines upon this subject, for he thought
that such a course would not be either just or agreeable in
arguing such points as these, because he would venture to say
that the opinions of the wisest men in the kingdom had under.
gone great changes on the question of corn. But then he
must say, that with a very strong exception, all the variations
of opinion had been in one direction.—( Hear, hear. I Per-
sons who had previously advocated the doctrines of protection
and the restriction of commerce, had abandoned those doc-
trines by degrees. Noble Lords themselves—the Legislature
of the country—had ut.dergone great changes upon this sub-
ject. From the year 1815, up to the present time, there had
been a gradual progression towards the doctrine of free trade
in the Government of the country,—( Hear, hear.) Let
Noble Lords compare the year 1815 with that year in which
the ninth Act of George the Fourth passed ; and again the
Act of 1842, and they would at once see a manifest and con-
siderable change in favour of free trade. They would find
that they had been steadily advancing towards the doctrine of
free trade since the year 1815. But without referring to by-
gone opinions, he was surely entitled to refer to the opinion of
that great body—the merchants of London—on this all-impor-
tant question. A petition from that body was Presented in
the other House of Parliament, which laid down the princi-
ples of free trade, and prayed for the removal of all burdens
from the commerce of the country, and that peti-
tion was supported, at the time of its presentation,
by a host of his friends in the other House of Parliament.
He utterly denied that these laws were imposed for revenue,
but suppose he granted that they were more heavily taxed in
this country than elsewhere, that was an argument why com-
merce should be left unshackled, and the enterprise of the
merchant, the production of the farmer, and the industry of
the manufacturer freed from any restrictions which fettered
them. It was, perhaps, wrong to discuss the measure by an-
ticipation, as the details were not as yet before them. With
regard, however, to the three years' limitation, he believed it
would be prejudicial, rather than advantageous, to the interest
which it pretended to protect. He took the measure, how-
ever, as a whole, and while he said that it gave him great
pleasure to see such an approximation to free-trade principles,
he confessed that he would have preferred the measure if it
bad come into operation at once. He thought the protectionists
themselves would see that a limitation of three years would
be more prejudicial than otherwise; and if they objected to it,
he considered it quite possible even yet to amend it so as to
obviate this objection. He denied that the land had any right
to peculiar protection. His Noble Friend had referred to the
doctrines of Mr. Ricardo on tithe, but that ceased to be re-
garded as formerly, since it was made a permanent charge on
the. land. As there was no question before the House, he
would now present a petition from Stranraer in reference to—
( Interruption, amidst wh'ch the Noble Lord handed the peti-
tion to one of the clerks. )
Lord ASHBURTON rose to explain. The Noble Lord
went on to say a few words in reference to the growth of
tobacco, which, he said, was one of the luxuries.of the poor,
and which the countrymen of the Noble Lord who had just sat
down had got into a knowledge of the growth of just at the
time when it was prevented by an Act of the Legislature.
The Duke of RICHMOND said he thought it was rather a
strange proceeding to enact a law by which the farmers were
compelled to employ men when they did not require their ser-
vices. Why should that be done? If the farmer was to be
compelled to sell his corn cheap, why should he not be at
liberty to buy his labour cheap? If he employed a man for the
best part of his life, was that a reason why he should be com-
pelled to give him in old age the same amount of remuneration
he paid him while in the vigour of life, when his labour was
of value to him? He (the Noble Duke) had heard a great
deal said about the reduction of the duty on brandy as a means
of preventing smuggling; but he conceived this very measure
to be a means of encouraging smuggling, for those who smug-
gled were no more free-traders than those who caused free-
trade by legal enactments.—(Laughter.) If they reduced the
malt tax, a sum quite equal to that now realised would be
obtained from the increased c msumption which could not fail
to take place. But the members of the League were strongly
opposed to the removal, and cried out, "If you take
off this tax you will give a boon to the farmers." The
recommendation in her Majesty's Speech respecting the removal
of protective duties, in order to ward off the danger of famine,
was the opinion of Sir Robert Peel in 1839, when he was en-
deavouring to obtain place and power. However, he had stated
that he would not be amenable for the opinions which he had for-
merly gave utterance, but if he abandoned his language, those
who were consistent might he permitted to take it up, and
would not be driven from the opinions they entertained by any
order, and who not only ought to maintain protection to agri-
culture, but to the domestic manufactures of the country. It,
perhaps, was not rigLt to take up the time of their Lordships
with this subject at that period, but he could not avoid addres-
sing them when presenting petitions signed by thousands of the
tenant farmers of this country ; he was sure, therefore, that
their Lordships would rather promote than prevent discussion,
and regretted that they had not an abler advocate than himself.
For his own part, he would rather have had free trade at once,_
than measures which only partake of that principle. Their
Lordships should remember that the principle of protection hail
existed in this country for a great number of years, and, as Sir
Robert Peel had said, had kept pace with the progress of manu-
factures, and had been of advantage instead of a disadvantage
to them. All the farmers asked for was, that they should not
destroy a system which had worked well, and which ought
therefore, to be continued.

R A ILWAYS.
The Earl of DALHOUSIE then rose and said—ln rising to
move your Lordships to appoint a Committee to consider what
steps should be adopted with reference to the railway husint ss of
this session, I shall endeavour to bring as briefly as I can be-
fore your Lordships the f cts of the case with respect to the
amount of that business, and to state the grounds upon which
it appears desirable that there should be some departure from the
ordinary mode of dealing with this class of Bills. My Lords,
in previous years the Bills brought under the consideration of
jthe House have, until very lately, been few in number. In the
session of 1845 the number of plans and sections deposited
with the Board of Trade was 248. Your Lordships will recol-
lect that at that time it was a matter of consternation to the
House, and it was then supposed that such an enormous mass
never could be presented again. Daring the present year, that
is, on or before the 30th of November, there were deposited
at the Board of Trade 815 plans and sections of projected rail
ways, of which 606 were for the formation of railways in Eng-
land, 121 for railways in Scotland, and 88 for railways in Ire-
land. On the 31st of December there was a considerable re-
duction in this number, as the number of plans and
sections deposited at the Private Bill Office on that
day was 687. Now, my Lords, I do not Mean to
say that all these Bills are likely to come
before the House. Some have already disappeared, others will
form a junction with each other; and the extreme haste, and
extreme inaocuracy of a great number of the schemes that
have been prepared for the consideration of Parliament, will
cause them to fail before the Standing Orders Committee.
Nevertheless, making every deduction for these contingencies,
making every possible allowance for these causes of failure,
there ,can be no doubt that a great number of railway Bills will
come tirder the consideration of Parliament—a number far ea-

ceeding anything which has appeared in any previous session.
And, when your Lordships consider that, even with the corn
paratively limited number which csame before us in the last
year, the great difficulty we had in dealing with those, and the
excessive difficulty which the other House of Parliament had
to encounter, and when it is remembered that all this business
—this enormous mass of legislation, is in addition to the ordi-
nary private bill business, so great that. it will be almost abso-
lutely impossible to find Committees for these Bills—l think
there is sufficient ground for some interference. But a still
greater difficulty is involved in this matter in the shape of the
capital which will be required for these undertakings. I have
the amount of the capital of nearly all these Companies, ob-
tained from their own official documents—and in those cases
where I have not been able to obtain the information from the
Companies themselves, I have had it supplied from other
sources; and it appears that for these 687 Bills the amount
of capital required will not he less than 370,000,0001.
1 do not, however, wish your Lordships to suppose that this
amount will actually be required, for, in addition to those lines
which may not have complied with the standing orders, there
are a vast number of competing schemes, one only of which,
under any ciicumatanees, can receive the sanction of your
Lordships' House. Making every deduction, therefore, and
taking the very lowest estimate furnished by those who are in-
terested in making the sum required as small as possible, I con-
ceive that 100,000,000/. will be the amount required. To
show your Lordships the amount of obl gations imposed upon
yourselves, I may inform you that in the past year not less than
118 Bills received the sanction of the Legislature, involving an
expenditure of nearly 60,000,0001. ; and the previous year forty
Bills were sanctioned, requiring an expenditure of 14,000 000 e
Up to the last year, Parliament authorised the expenditure
of 70,000,000/. But your Lordships will recollect
that this curie is only to be gradually expended ;
but inasmuch as it is necessary that many of. those schemes
should be pressed forward, and as the construction of them dotes
not extend over a larger period than three yea's, this sum will
be fully demanded in these three years. Your Lordships will,
therefore, perceive that, in the years 1846, 1847, and 1848,
the average expenditure will be 2",000,0001. The sum, there-
fore, taking the smallest estimate, which will be brought before
the consideration of your Lordships' House will be 100,000,000/.
I think, therefore, that it would be well for your Lordships to
take into your consideration whether the diversion of this enor-
mous amount of capital into the one channel of railways, may
not be at variance with the public good; whether it may not
interfere with labour and industry, and whether some limita
Lion ought not to be placed on this extraordinary expendi-
ture. It is perfectly notorious, I appeal to Noble Lords
from all parts of Great Britain, that already the price
of labour is enhanced to an inconvenient degree. Now.
my Lords, I will go further than that. I believe that it
is for the interest of railway enterprise itself that the un-
bounded sanction of Parliament should not be given to this im-
mense number of schemes. It is well known that the prices
of labour and materials-have already, as I have just stated, risen
to an enormous extent ; and of course this rise of prices will
of necessity be considerably increased if we sanction this large
number of projects. Well, then, what will these promoters do
in this state of things ? It must be remembered that the par-
ties acting under these Bills of incorporation will have a great
and large amount of capital in their hands, while, at the same
time, they will be armed with great and inconvenient power,
which, for the cause I have stated, or perhaps from some other
cause, they may not think proper to exercise. And thus these
great and inconvenient powers will be kept suspended over the
heads of all those whom the Bill may affect, and the public will
be deprived of those advantages which the public might derive
from the completion of the undertaking authorised by the Bill,
and which, in fact, was the consideration which in-
duced Parliament to give to the promoters the im-
mense powers which the BR itself contained.—( Hear.)
On the other hand, suppose the promoters go on with their un-
dertaking; and, notwithstanding the increased cost of materials
and labour, they carry on their works as rapidly as it was pos-
sible for them to do, is it not more than probable that they will
have expended all their money before they have by any means
concluded their undertaking ?—( Hear, hear.) Consequently
in either cases the railway people will not be benefited, but
most unquestionably in neither case will the public be bene-
fited. —( Hear, hear.) Now, after all these considerations,
and the many difficulties which are in the way of carrying out
this immense number of projects, I ask your Lordships, whether
you can safely now pursue your former mode of proceeding, or
whether you ought not now to place some limit to the extent
you will go in legislating upon railways ?—( Hear, hear.) It
has, however, been observed by a Noble Marquis, whom he did
not see in his place now, that the Government ought to take
upon their own shoulders the disagreeable functions of decid-
ing what railways should come before their Lordships, and
which should not, but it must be recollected that it was not in
the power of Government to take upon themselves this duty, be-
cause they had not the means or the power of deciding the
question so satisfactorily as a Committee will have.
The Government have, however, at the earliest
convenient opportunity directed the attention of Parliament to
the matter, in order that it may be settled to the satisfaction,
if possible, of all parties. The Government have made prepa-
rations for laying before these Committees such information
as they have been enabled to collect, and which they consider
will tend much to remove the amount of their labours. They
have caused maps to be prepared, showing the lines already
constructed, those in the course of formation, and those which
are involved in the projects before the House. These will be
arranged in such a manner as to show the districts which are
at present without railway convenience. This information
will be laid upon the table of the House for the guidance
of the Committee, and he considered that had the Govern•
ment come down with any settled plan to be pursued as to
railway legislation, it would have been productive of no good
consequences. The best plan they could adopt was to propose
the formation of a Select. Committee to take these matters
into consideration. The Right Hon. Baronet at the head of
her Majesty's Government has proposed that a Select Com-
mittee be formed in the other House. When the report of
that Committee shall be presented, the Government will then
be prepared to submit to the House their opinions as
to the course which they think wise to adopt.
There are other matters which will then come under the con-
sideration of the Committee, which I think will materially
conduce to the benefit of the parties more immediately in-
terested.—( Hear, hear.) Under these circumstances he
begged leave to move that a Select Committee be appointed
for the purpose of taking into consideration the mode of re-
gulating the railway business before the House.
Lord BROUGHAM quite agreed with the Noble Lord in
the feelings of alarm with which he considered the question of
the amount of capital. God forbid that he should entertain
the opinion that Parliament should not interfere in the sub-
ject of this enormous outlay of er pital. But when Parlia-
ment was called upon to give some extraordinary, and he
would call them extravagant, powers in any case—(Hear)
—without which there could be no such investment of capital
as was asked for—it would not be proper for Parliament
to grant those powers without a due regard to the dis-
posal of the capital of the country.--( Hear, hear.) . Parlia-
ment had no right to interfere with the natural employment
of the capital of the country, but when it was sought to dis-
pose of that capital by an unnatural employment thereof, the
Legislature was then bsund to step forward and appose the
attempt.—( Hear, hear. ) He did not see that there was arty
thing morally wrong in the grants that had already beer,
sanctioned for railway purposes, nor would he say that they
had been made with an abstinence of all providence and cir-
cumspection ; but when he was called upon to make more
grants to such an amount as would increase the expenditure
from 20,000,000/ per annum to 53,000,000/. (for that was
the calculation) he did think it the duty of Parliament to put
a stop to such an extraordinary diversion of the capital of the
country into one particular channel.—( Hear, Lear.) He
hoped that, before the House would proceed headlong into the
sanctioning of fifty-three millions of money being granted for
the formation of railways for each of the succeeding thirty.
three years, they would give the subject the most serious con-
sideration. He apprehended that out of that House his argu-
ment would be misapprehended, but he certainly did hope to
be heard before their Lordships on this subject when it should
come in a proper shape before the House. He certainly did
consider that the Railway Committee should undergo great
alteration, and that its powers should be abridged.—( Hear,
hear.) That body dealt with questions a hundred-fold more
important than all the questions which came before the Courts
of Westminster, or any other court of law in the kingdom,
although it of course possessed none of the skilful
experience possessed by the judges of those courts,
With all possible respect for both Houses of
Parliament, he did not consider any Committee which they
might appoint a proper tribunal for the disposal of business
of such vast importance as that involved in the railway business
which it was proposed to bring before them. God forbid
that be should wish the privileges of either House to be inter-
fered with, or that he should sanction any attempt that might
be made to transfer those privileges to any other quarter
—(Hear, hear)—but he was morally persuaded that the rail-
way Committees were the very worst tribunals that existed in
the country. He hoped, therefore, in conclusion, that their
Lordships would afford him an opportunity, on a 4ture occa-
sion, of speaking more at large on this important question.
The Earl of KINNAIRD said that it was generally'con-
sidered by the nubile that Parliamentary Committees were not
the best judges of the railways which were submitted to their
idecision. Oftentimes two lines in the same course were sanc-
tioned which worked against each other, and in one case two
companies clashed so much with each other that the public
were frequently misled in consequence of the confusion of
tickets. Some combined system should be adopted by which
they and other evils, from a similar cause, would in future be
prevented. He would give notice for a motion on Monday
next for a return of the fees on the different railways, and their
I appropriation. On one railway the entire expenses connected
with Parliamentary extension amounted to 8,0001., and 3001, of
this sum was fur fees. This he considered wrong, and should
meet with the attention of Parliament, with a view to its
remedy.
Lord ASHBURTON, who, from the low tone of voice in
which he spoke, was almost inaudible in the gallery, approved
of the appointment of the Committee. He agreed with the pro-
position of the Noble Lord, because he conceived it would be
necessary to put some limitation to the call for labour upon
railways in this country. Many of those projects, it was well
known, were got up by attorneys and engineers in country
towns, who got up those schemes for their own private pur-
poses ; at the same time he would say it would be better to have
the millions squandered away in these railways in England, than
in speculations in Russia.
The Duke of MONTROSE said it was very necessary that
a Committee should be appointed to consider the best means to
adopt with respect to the number of projects now before the
country, in order that they might consider whether it was in-
cumbent that the large amonnt of capital which might be re-
quired to construct them should be expended or not. He was,
however, of opinion, that great inconvenience would arise unless
the course proposed by the Committee for the adoption of Par-
liment was known at an early day. They must recollect that
the deposits would have to be paid to the Accountant-General
in a very short time, and that very soots after that period, those
projects, who had complied with this order, must be submitted
to the Standing Orders Committee, and unless the Committee
reported on the subject before the time of paying the deposits,
they would prevent a great number of schemes from paying
their deposits at all, so that great inconvenience would result
from the money being locked up. And then, again, if the
Committee were obliged to report in a hurried' manner great
difficulty could not fail to arise on acocunt of its being impes-
s;ble to decide on the immense mass of Bills which would be
submitted to them, notwithstanding the facilities which the
Government would give to them for the purpose of facilitating
their labours. Then he could not understand the principle on
which the Government could recommend that some schemes
should be entertained and others objected to—what railways
would be required in some parts of the country, and which
scheme out of the many projected in the same district
should be selected. It was true there could not be much doubt
in determining on a project traversing a district suffering from
the present inefficient means of communication ; but it wee,
possible, on account of the variety of interests to be consulted,
and the difficulty in deciding justly on them all, that a railway
got up by' attorneys and persona of no property or in-
fluence, might be selected instead of one in which landed pro-
prietors and others, whose interests would be materially affected,
and which had the advantage and recommendation of being
Lorca fide. He only mentioned these things to show the diffi-
culties with which the consideration of the subject was sur-
rounded, and the great necessity of taking measures to give all
the railways of a bona fide character mature and serious consi-
deration.

Earl GREY entirely concurred in the propriety of appoint-
ing this Committee, but he hoped that they would not be con-
sidered as pledging themselves to the very novel principle of
limiting the amount of capital which Parliament chose to con-
sider the country could afford for the construction of railways.
The mere he heard that principle explained and discussed the
more doubtful did it become. It appeared to him that what

110 USE OF COMMONS, Thursday, ji
RAILWAY DEPOSITS. 10g
Mr. JIASTIE rose to ask whether the staute
of 1839, respecting railway deposits, was to °net Sol
into effect, as, if it was, the security of 1° tip
should be paid up, and it would embarrass
regulations of the country, as deposits to aprofrer-0
amount had already taken place this year. ePot
tations had been made to her Majesty's GOl,OOOO
this head to the effect, that money should belounosai!,
Court of Chancery, and ifit stopped the railwai oje#.l
had no objection to see such representations at e or
Ho should mention to the House the WI re/
these orders were operating upon the colwrodsAl
tercets. It must be perfectly well known to egeol'oeivi
her of this House, that the whole of the Le.,°,l
transactions of this country are carried on
touft....nibv
bills of exchange. If goods were consigned
the globe—to India, South America or Chintibese
drawn, and they are paid for by bills ; now t diger.)
it has been the practice of merchants t° dae,dl.
thereby occupying the floating capital in 1-43°0510
enablingour merchants to buy largely and leer' j •
In consequence of the necessity of making these
ra
it has been almost impossibie to obtain accolo a J$
for bills of exchange for the last tribre,-,004.
And should this continue, he (the P°
Member) assured the House that order°ll
quenees would be most ruinous. In
;$ll/
the House might be enabled to forra nosily
idea of the extent to which these bills run; he ntielfi
them that 150.000,0001. were occupied in disol/,:00'-e0
bills exchanged in their commercial transaelet I'oo
the West Indies, South America, and China. woad
he
stop those exchanges for a day, and ''"01,01
no knowing what the consequences vr°o3ll7o
lie, therefore, complained of these coetry
orders, as embarrassing the commerce of thew
to
He thought an Act of Parliament ought to bpd•
duced which would alter ;the present sYstellte
would press upon her Majesty's Government"oeints
sity of making some alteration in the stan;linvisl3-'
The CHANCELLOR of the EXCHE(E' 103411/
Hon. Member who had just spoken had take
(the Chancellor of the Exchequer) thought t°
incorrect view of the question. What he had cerl'os pie
of had not only reference to railway speculati°sole, i
but to all other speculations having the d
of Parliament. The standing orders regal 11rAaf
certain sum should be paid into the Bank °. colP;er •
in the name of the Accountant-General of thedter- s
Chancery. The money being so placed, was' -purl;
tain preliminary conditions, available for the
(t,e
of the speculation for which it had been 1,0 rho
was quite true, that without the sanction e` At
countant-General, money so placed could n° be ;V
drawn. tie doubted very much whether ~f
Member could propose any evtl
P'""
he had complained.
night /101.
remedy for the
Mr. HASTIE wished to explain. The ",,'"
Gentleman had misunderstood him. Wtonbef;is
Ilastie) complained of was, not that them -the bide
lodged with the Accountant. General, but of -to be,-
delay, after it was so lodged, which teo.k 00
it could be withdrawn. k of
The CHANCELLOR of the EXCHE4.- )3513,-ed
that if the deposits paid were placed in the, p,„6the
England, the person in whose name it eint•
would be able to draw it at an hour's notice, '',..,"tt0t.5.0
money was placed to the credit of the Ae'-u
General, it would take a period of a week or t!'
in order to withdraw it, as several documetitg
have to be prepared. h
a ye
Mr. P. M. STEWART said, supposing t"" of 'e
to be placed in the Bank in the names said
of the prosisional cominittee, they had the t
ei°°i
i
power over it as a single ndividua bu ,
have were it placed in his nameof albs'
it was placed there under the authoritY only
House it would remain in the Bank, and 00111 u ptea`i
drawn by parties possessing certain official d°?t,
The parties lodging it bad no power to drawl lod
became available to the Bank of Lngebancverje
commercial purposes. The Court of
subjecei
would have no power over it
purpose of the law that had been made 011 11; rerPe;.;
was to secure the public from injury, and t" litad '-t;
would be amply effected if the Bank of
Engotheniti
ceived and kept the money, with deal jos
from the proper quarter. No prac tr
or Bank of England director would °nol
him when he said that if tleetrainett' 16
were placed in the Bank of England under r ;s. ).'" •
would not be available for commercial Parr were
•e be 100
Hon. Friend, the Member for Paisley, 1. e,, ts he
practical man, would know that all the in°dll trp in
from the circulation of this country and locked of Cha
Bank of England, in the name of the
eery, would not be available for commercial or a 24i3
Money to the extent of six or seven millions,
Court
porposeal
of the circulation, would be thus withdrawn' t better,r
Mr. GISBORNE said that the money migibnterest
invested. The Bank of England gave n°
the
any money invested.
to
Chiatlnrc.elillUorDoSfOthNe wouldEh offer a prhaicetiiicahlesuwgagse,sit:t:ilestit‘a.oduied,
xc equer, f t
would obviate the difficulty complained 0 •
_noel v.
parks seeking to obtain the consent of Far_sit Esc
dewrield 17911,130
railway Bills, were, in piace of money, to
quer.bills on stock, the above ciiffieultY.ienotitti
He saw no objection to the placing .of