The Sun.
London, England, 1848-02-18 00:00:00

FRIDAY EVENING, FEBRUARY lB, 1846.

against invasion. Since 1835 the whole force, army, 1
navy, and ordnance had been increased from 135,743
men to 196,063 men, and he would say that there had
been no unwillingness in the House to vote the ne—
cessary increase. There was also another kind of
force most efficient; 15,000 old soldiers had been
organized by the former Government, and the pre-
sent Government had organized 9,800 dock-
yard men, with 1,080 guns, and a greater
part of this force could be moved at any time.
There was also a plan for organising the coast-
guard, and adding to the men, who would serve for
a small amount of pay, giving a force of 9,000
men. On this ground of the number of men there had
been no unwillingness to make an adequate provision.
The question was, then, whether they should make a
very great reduction in their force, or make a large
increase in it, or continue from time to time making
an increase to such parts as require it. His view
was, that it would not be wise to endeavour to make
the expenditure equal to the revenue by large reduc-
tions. On the other.hand he was of opinion there'was
no reason for sudden alarm. With moderate additios
tocertain branches of the army, navy, and ordnance
he believed this country would be in a sufficient
state of defence to obtain securities for peace, which
was the object of all those preparations.—(Hears
hear.) If you expose yourself to having a decisive
blow struck against you, you give power to the war
party in a foreign country, but if you are
prepared you give power to the peace party.
They proposed in the navy estimates an increase of
164,0001., being 70,000/. for it, which might
properly be called naval services. Lord Auckland
had furnished him with a statement of the naval
force, and we proposed to keep our naval force on an
equality with this, and also proposed to have a reserve
of steamers at the various dockyards and at
Cork. He thought this was a very wise pre-
caution; for be it not forgotten that if steam
offered advantages for an invader, it also,
on the other hand, offered advantages for opposing
him, of which we should avail ourselves, and in the
mantas he bliould be prepared fully to avail himself of
those advantages. In the naval estimates he pro-
posed to increase the marine force by 1,500 men.
With regard to the defences of the dockyards, that
subject had been most carefvlly attended to by the
late Government, and every work proper for
their defence had been begun in strengthen-
ing them. 262,000/. had been expended in
strengthening the defences of Portsmouth, Ply-
mouth, Pembroke, and Chatham; and the Duke
of Wellington, who had inspected those de-
fences, had expressed himself perfectly satisfied.
With regard to the army, although they did not
propose the increase of a single man, the number
of soldiers in the United Kingdom would be in-
creased by upwards of 5,000 men by those who
would return from India, in consequence of the
economy of Lord Hardinge, who having triumphed
in hostilities, determined to take upon himself the
unpopular task of placing the finances upon an
economical footing.—(Hear, hear.) The number
of rank and file in the kingdom was now 55,000 ;
in the course of a short time it would be 60,000.
The number of soldiers in the United Kingdom had
been increased 20,000 since the year 1837. The
army estimates would be only increased by 43,000/.
He proposed an increase in the number of artil-
lery and sappers and miners. He proposed an
increase of 400 sappers and miners, and 1,900
artillery. He also proposed a great increase in the
estimates for the ordnance, for increasing the supply
of small arms and stores of gunpowder. That would
make, for the purposes of the navy, an increase
of 70,000/. ; for the army, of 45,000/., and of the
ordnnance of 245,0001. Now, they had not a
sufficient force to garrison the dockyards, and at the
same time to keep the field in case of invasion, and
therefore they must have recourse to the
old constitutional force, the militia. There
were difficulties belonging to that subject now
that did not formerly prevail. If they took substi-
tutes they might not be forthcoming, and if they did
not it would be imposing a hardship on the people.
He would propose a measure which he thought
calculated to meet those difficulties, and the
House would decide whether or net it would
be practicdble to raise a militia force ; and
it might be in some future year their duty to
propose an addition to the army. lle proposed to
take 150,000/. this year as a foundation for raising
this militia force. The whole expenditure for the
year would be Navy, Army, Ordnance, and
Miscellaneous, 21,820,400/., which, with the Un-
funded and Funded Debt, and for the Militia
and the Kafir war, would make a total
expenditure of 54,546,900/. It was evident therefore
that he must not o propose a renewal of the-
income-tax—(Ironical cheers) but that if the
House should approve of those estimates, that addi-
tional taxation should be imposed. It was obvious that
a great part of the deficiency depended upon the state of
the country, afflicted as it was with scarcity and with
commercial and manufacturing distress. They might
look to have those effects removed within a few years,
and a consequent improvement in the annual in-
come. With respect to the expenditure they might
expect that the Kafir war would soon be at an end,
although he did not know that there was an
end, to the bills on that account. _(Laughter.)
On both these grounds he thought they might hope
that only a temporary increase of taxation would be
required. He would, in stating what he considered
the increase ought to be under the present state of
the country and experience of former Govern-
ments—he thought any increase on the articles
of consumption would fail to yield revenue,
and would involve almost insuperable difficulties ;
therefore he proposed at once to renew the present
income-tax from April next for a period of five years,
and to vote an increase of it from 7(1. to ls., or from
three to five per cent. for a period of two years—
(Cries of " Oh ! oh !" and great confusion.)—and,
' without going into the argument on that subject, he
would state that considering the great distress
prevailing in Ireland that in 1842 it was not imposed
in Ireland, and considering the struggle now going
on to remedy the social state of Ireland, they thought
that—admitting the justice of imposing that tax in
Ireland equally with England—the present was not
the moment to impose that tax upon Ireland.—(Hear.)
They should consider that if they checked the exer-
tions of Ireland to place herself in a condition of
prosperity, they checked the prosperity of the United
Kingdom. They proposed, therefore, to take the
tax exactly as it had been imposed in past
years, on the principle on which it had been
imposed by Mr. Pitt and increased by Lord
GrenvilleflandLord Lansdowne.—(Loud laughter)—
and on the principles on which it had been imposed
by the Right Hon. Gentleman.—(Cheers.) He had
voted against it in 1842—(Cheers)—he was right in
so doing. He had voted in favour of it in 1845.
(Hear, hear.) He thought I he had been right
in both votes, and the question was now
whether you should continue a tax already
imposed or impose others. He thought it better to
continue and increase this tax than to impose taxes
on articles consumed by the great body of the people.
The taxes on candles, coals, and leather, which had
' been] stigmatised : by Adam Smith, had been
taken off, as had the salt tax, the beer and cider
duties, the glass, sugar, butter, and cheese duties,
amounting to ten millions of taxes annually upon
articles of consumption which had been reduced.
The whole amount of taxation reduced since the
peace was 39,705,341/.—(Elear.) He thought,
therefore, that under circumstances of ,unparal-
leled difficulty it was not asking too much of
the House in asking for an addition to the direct
taxation of the country. He took the income-tax
at 3,500,0001, which would give an income of
54,750,0001. to meet the expenditure of 54,596,000/.
He proposed to abolish the tax on copper ore
imposed in 1842, which had encouraged smelting
abroad, and had only produced a revenue
of 41,0001., and the abolition of which would greatly,
increase the smelting trade of this country. Deduct-
ing this tax, they would have a revenue of 54,750,000/
to meet an expenditure of 54,637,0001., leaving a sur-
plus of 115,000/. In another year that surplus woule,
he thought be increased, and would enable
them to reduce taxation still further. He
had endeavoured fairly to bring before; the
House the financial condition of the country before
calling upon them to vote the estimates, in order
to let the House see at once that if they voted
the egimates proposed) they met be Fe.

pared to vote an increase of taxation. He had
shown them that since the peace 40,000,0001.
of taxation had been reduced, whilst they had not only
preserved their empire uneliminUe'd, but had extended
it. Under the guidance of the Right Honourable
Gentleman opposite they had been enabled
to give scope to those .principles of commerce of
which Adam Smith had been the propounder and Mr.
Pitt the disciple. They had been enabled to put
down rebellion in Canada, to repel aggression in
India, and to defend their fellow•subjects at
the Cape of Good Hope. If they continued
to keep the revenue equal to the expenditure
entirely, they would be able to reduce taxation. He
regretted he could not now propose it, but his duty
to the country demanded that he should pursue the
course he had proposed, which would maintain
public credit, uphold public faith, and place
this great country beyond the reach of insult
from any nation whatever.—(Loud cheers.)
The Noble Lord concluded by proposing the
formal resolution, which being put from the Chair,

Lord JOHN RUSSELL said that on the con-
clusion of the debate he should propose that the
Chairman should report progress, and ask leave to sit
again on Monday se'nnight.
Mr. HUME had never heard with such pain any
budget brought forward as he had heard the present.
He protested against the idea of the probability of
any war with France.
(LEFT SPEAKING.)

THE LONDON GAZETTE.

(THIS EVENING.)

LORD CHAMBERLAIN'S OFFICE, FEB. 18.
Notice is hereby given, that his Royal Highness
Prince Albert will, by the desire of her Majesty, hold
Levees, at St. James's Palace, on behalf of her Majesty,
on the following days, at two o'clock— Wednes-
day, Ist March next ; Wednesday, 22d March next.
It is her Majesty's pleasure, that presentations to his
Royal Highness at these levees shall be considered
equivalent to presentations to the Queen. Addresses
to the Queen may either be forwarded to her Majesty,
through the Secretary of State for the Home Depart-
ment, or may be reserved until her Majesty shall hold a
Levee. N.B. The Knights of the several Orders are to
appear in their collars at the Levee on the Ist March, it
being a Collar-day.

REGULATIONS TO BE OBSERVED AT THE LEVEES AT

ST. JAMES'S PALACE.

The Noblemen and Gentlemen, who purpose to at-
tend the Levees, at St. James's Palace, are requested to
bring with them two large cards, 'with their names
clearly written thereon, one to be left with the
Queen's Page in Attendance in the Presence-
chamber, and the other to be delivered to
the Lord Chamberlain, who will announce the name.
Those Gentlemen who are to be presented are hereby
informed, it is absolutely necessary that their names,
with the name of the nobleman or gentleman who is to
present them, should be sent to the Lord Chamberlain's-
office before 12 on the Monday previous to each Levee, in
order that they may be submitted for approbation; it
being her Majesty's command that no presentation shall
be made at the Levees, but in conformity with the above
regulations. _

It-is particularly requested, that in every case the names
be very distinctly zertiten upon the cards to be delivered
to the Lord Chamberlain, in order that there may be
no difficulty in announcing them. The state apartments
will not be open for the reception of company coming to
Court, until half:pastlone o'clock.

" The directers have availed themselves of the recent
important reduction in the price of iron, and have pur-
chased the rails necessary for a single line, which are
now in course of delivery at the works.- Thus, so far as
it rests with the directors, every provision has been
made for opening the line to Warrenpoint early in the
ensuing summer; this object, if attained, would secure a
prompt return to the shareholders upon their whole out.
lay. It will therefore be understood how materially
their interests will be benefited by early payment of the
calls in arrear.

"The directors announce that half the capital having
been paid up, the burrowing powers of the company
come now into operation, and this meeting has been
made special for obtaining the assent of the proprietors
to the exercise of these powers.
"In compliance with the Companies' Clauses Con-
solidation Act, two of the directors will retire from
office at the ensuing general meeting, but are eligible for
re-election. One of the auditors also retires, and is
likewise eligible for re-election."
The following is the engineer's report, which was also
read:--

" The embankments through the slob lands adjoining
the Newry River are in a very forward state, and that
portion between the Rampart and Green island, a distance
of about one mile, I expect will be closed in the course
of a month. I have much satisfaction in stating this
fact, as I had been led to anticipate some difficulty in
the construction of this portion of the line.
" The retaining walls and excavations through the
demesne of Narrow Rater are completed and the public
road diverted at this point, as originally intended; the
embankments, also, in this neighbourhood are progress-
ing rapidly, and present no difficulty in their construc-
tion.

"From the arrangements which the contractor has
made with the landholders in the neighbourhood of the
line, for procuring the necessary material for the forma-
tion of the embankments, together with the very efficient
working plant on the line, he is in a condition to acce-
lerate the progress of the works, should the directors
deem it expedient to do so."
The reports of the directors and also that of the en-
gineer were adopted unanimously, and ordered to be
printed and circulated among the proprietors. From
the balauce sheet it appeared that the amount of cash in
the hands of the bankers of the company was 1,2451.
3s. 10d., and that there was a great arrear in the pay-
ment of the calls. Several proprietors recommended
the enforcement of the payment of the calls by legal
means, which the Noble Chairman stated would be consi-
dered by the directors.
The directors that retired by rotation were re-elected.
The auditor was re-appointed.
A resolution giving power to the company to borrow
a sum of 33,000/. was unanimously agreed to; as was
also a resolution giving 5001. to the directors for their
services.

A resolution was also put and carried, calling upon
the directors to press the payment of the calls in arrear,
and giving them,power, in case of their non-payment, to
institute legal proceedings to compel the payment.
Thanks were then voted to the Noble Chairman, and
the meeting separated.

GREAT WESTERN RAILWAY.
THE DIVIDEND.—(THIS DAY.)
The polling, continued last evening until six o'clock,
on the question of the dividend, was resumed this
morning at ten o'clock, and concluded at two.
At three o'clock the proprietors met by adjournment,
when the Chairman announced the numbers to be—
For the dividend of 31 per cent. on the half-year... 3,340
For IP 4 per cent 1,211

Majority for the directors' propositton 2,129
The reduced dividend was accordingly declared pay-
able On the Ist of March. The announcement was re-
ceived with applause.
The directors retiring by rotation were re• elected, and
auditors for the half-year were appointed.
The usual routine business of the half-yearly meeting
having been gone through with much cordiality,

Lord ABINGER moved, and Mr. STANFORD seconded,
in highly complimentary speeches, a vote of thanks to
the Chairman, which was unanimously agreed to.
In answer to questions relating_ to the excess of the
expenditure over the original estimates, in the case of
the Berks and Ilants line (which led to prolonged con
versations), the engineer, Mr. Brunel, gave explanations
which were received with express satisfaction by the
meeting. As far as the original plan for that line was con •
cerned, there had been really no excess over the original
estimates. The increased expenditure was owing to the
necessary extension of this branch line beyond the ori-
ginal design, the Parliamentary opposition, and the
unforseen rise in the value of land since the project was
undertaken.

Similar explanations took place respecting the South
Wales Railway, the works of which were stated by ➢lr.
Brunel, to extend pretty nearly over the whole length
of the line, and to be about half completed.
After much discursive conversation on various affairs
of the company in detail, the meeting separated.

BANK OF ENULAND.
(From this night's Gazette.)
An Account, pursuant to the Act 7th and Bth of Victoria, cap. 32,f0r
the Week ending on Saturday, the 12th day of February, 1848.
ISSUB DEPARTMENT.

Notes i55ued........ 27,6-32,895

Government debt • . 11,015,100
Other securities •• • • 2,984.900
Gold coin and bullion 12,139,880
Silver bulliom •• • • 1,443,015

£27,582,895

27,582,895
M, MARSHALL, Chief Cashier.
, 1848.

Dated the 17th day of February,

BANKING D:
Propeetors' capital.. 14,553,000
Reid • 3,805,025
Public dcpusits. (in-
eluding ExChequer,
Coulmiasioncrs of
National Debt, Say-

,EPAETMEN T.

Government seeuri-

ties (including Dead

Weight Annuity).. 11,574,921
Other securities • . • • 13,343,5
otes ..... • • • • • 9,064,235
Gold and silver coin.. 621,82'j

ings-bank s, and Di-
vidend accounto.. 5,332,795
Other deposits •.•• • • • 9,t, 61,645
Seven day and other
bills ••• • • • •• • 901,890

434,601,555

£34,604,555
M. MARRIALL, Chief Cashier.
, 1848.

Dated the 17th day of February,

COURSE OF EXCH.
Ainster.lam 12 34

LN GE.-(THIS DAY.)

Ditto, at sight • • .... 12 N
Rotterdam .... •... •• 12 3Si
25 80
11amburgh ••M.B. 14 13%
• • •• • •
Paris, 3 days' sight .. • • 25 45
Ditto, .....„ ........ 25 70
Marseilles .......... 25 SO
Llourdeaux ..... • • 25 80
Frankfort on Maine.... 122

Leghorn ........ • ..... 31
Genoa .. ••••••• • • • • • .. 25 85
Milan .. • • .......... _
Venice • •
Naples ...... • • .... • • 3111%
Palermo, per 0z........ 117%
Lisbon.... • • 51%
0p0rt0.... • • .... • ... • • 52
Rio Janeiro • • ........
................
Buenos Ayres ........
New York, 21 days'sight
Philadelphia ..........

retersburgh, Sil.lible..

Berlin.... ••..•••• •• ••

Vienna, effec. flo•• •• • • 10 12
Trieste, ditto.... •• .... 10 13
Machin •• •• ........ 461,
Cadiz .. • ............ 48%
Barcelona
5avWe................

FUMES OF BULLION, :rat OZ.
Foreign Gold In bars.. .£3 17 9

New Dollars G 4 911
Portugal Gold Coin .. 0 0 0
Apanish Doubloons .. 0 0 0
4ilver in bars ......•. 0 4 106

IMPERIAL PARLIAMENT.
HOUSE OF LORDS, Feb. 17.
DIPLOMATIC RELATIONS WITH THE
COURT OF ROME.
Lord STANLEY said he had never entertained any
doubt of the uniform sincerity and uprightness of pur-
pose of the Noble Duke who had last spoken.—(Hear,
hear.) But it he believed that the rights of the people
of this country, or the rights and privileges of the mo-
' narch, were affeced by this Bill, or that the pretensions
of the Pope to spiritual preeminence and temporary
authority might be thereby strengthened, no considera-
tion could induce him to consent to the second reading.
But he did not believe that it involved any violation of
the principle on which the Bill of Rights was founded.
—(Hear.) Still, it being well known that for the last
two hundred years intercourse with the Court of Rome
had been prohibited by a strong moral feeling—or, it
might be, by the prejudices of this Protestant nation—
no measure, hastily introduced as this had been, ought to
be hastily carried, or without due consideration by the
1 country at large.--(Hear, hear.) The Noble Marquis
himself, on the part of the Government, had declared,
by the introduction of this Bill, that grave doubts had
existed as to the interpretation of the statutes
alluded to ; and as the practice had, for the last 180
years, been contrary to what this Bill went to sanction,
it was clear that the measure was, to all intents, an
enacting Bill, empowering her Majesty to do what she
could not do as the law previously stood. The Noble
Marquis had assumed that all the current of history
and of opinion was in favour of intercourse with Rome,
prior to the Acts in question ; but this was not so, as
was evinced by the course taken by the Duke of Somer-
set in the case referred to by the Noble Marquis. Then,
as to the policy of the measure, if it were deemed neces-
sary by Government that her Majesty should be freed
from the existing restrictions, the proper and most dig-
nified course wonld have been to have introdueed the sub-
ject in the Speech from the throne ; or, if the necessity was
not then foreseen, at least to have made it the subject
of a special formal message to the House. Instead
of that,:the Noble Marquis had risen, after a debate on
the West India question, and had laid the Bill on the
table iwith the same nonchalance as if it had been
nothing more than a turnpike trust Bill.—(Hear, hear.)
Surely that was not the mode in which a great measure
like this should be dealt with; and he hoped their Lord-
ships would not allow it to be hastily slurred over.—
(Hear.) Even, in the interest of the Bill itself, the fullest
opportunity ought to he given for its thorough con-
sideration. The Noble Marquis might at least have
made some communicatjpn as to the late proceedings at
the Court of Rome, and have informed their Lordships
what was the result of the intercourse which had taken
place between Lord Minto and that Court. It might be
said that that intercourse was unofficial; and if there were
really any impediment to this intercourse in existing
Acts of Parliament, Earl Minto, and the Noble Lord at
the head of foreign affairs had placed themselves in a
very difficult position. For in a dispatch dated in Octo-
ber last the Noble Earl was requested by Lord Palmer-
ston to press on the Court of Roose the removal of the
Jesuits from Switzerland, with the view of preventing
war in that country. Earl Minto, in his reply, stated
that he had had some conversation on the sub•
ject with the Cardinal Secretary of State, and said he
should continue to press for the Pope's interposition in
the matter. It might be said this was mere conversa-
tioa • but, in the face of a law which was presumed to
prohibit diplomatic intercourse, here was an official in-
struction from the Foreign Secretary to Lord Minto to
undertake a certain negotiation, and a regular official
report from that Noble Lord as to the:result of his repre-
sentations. This correspondence had been officially laid
ou the tables of both Houses; and if this intercourse
were not penal under existing Acts, he was at a loss to
know what kind of diplomatic intercourse could be so.—
(dear, hear.) It could nut be said that this intercourse
was private and confidential; for the Government had
themselves furnished official copies thereof. Hence, as
it was not to be presumed that the Noble Marquis a?d
40-ts COltitlgt;es.l44 kni+WinglY incurred 010 130211.40 i