The Sun.
London, England, 1848-03-04 00:00:00

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BOROUGH POLICE SUPERANNUATION.
Mr. HUTT moved for leave to bring in a Bill for au
tborising the establishment of a fund for this purpose.—
Agreed to.
NAVY, ARMY, AND ORDNANCE EXPENDI-
TURE,
The CHANCELLOR of the EXCHEQUER moved
the nominatien of the Committee on this subject.
Mr. OSBORNE objected to such an important Com-
mittee being named at that late hour, and moved the
adjournment of the debate.
The CHANCELLOR of the EXCHEQUER urged
on the Hon. Member the importance of the Com-
mittee proceeding in their inquiry at as early a period
as possible. It was not likely, if they adjourned the
debate, that there would be a fuller attendance than at
present.
Mr. OSBORNE opposed the motion on constitutional
grounds. lie looked en the appointment of this Com-
mittee as a dangerous precedent, and us an abdication of
the functions of Government.
Sir G. GREY said the appointment of the Committee
had already been decided upon by the House. The pre-
sent question was merely who should be upon it. The
Hon. Member had given no notice to substitute any name
for any one of those proposed.
On the first name of the list, that of Lord Seymour,
being called ever,
Mr. OSBORNE objected to this name, and complained
that there were no members of the army and navy
named in the list proposed by the Government. He
looked upon the Committee as a collection of persons
formerly in office, who, having called before them a few
generals and admirals, would draw up a report that no
reduction could be made.
The gallery was cleared for a division, but none took
place, and Lord Seymour's name was placed on the Com-
mittee, as were the names of Mr. F. Maule, Mr. Hume,
Mr. G. Bankes, Sir J. Graham, Marquis of Granby, Sir
W. Molesworth.
On Mr. Corry's name being proposed,
Colonel SALWLY said, that without wishing to ob-
struct the appointment of the Committee, he must, in
return, express his surprise that no military men were
proposed on the Committee.
The CHANCELLOR of the EXCHEQUES said, it
bad been conceived that the opinion of professional men
could best be elicited in the form of evidence.
Mr. WAKLEY though it would be better to place
some naval and military men on the Committee, as
civilians could not, unassisted, form a fitting judgment
of the professional evidence laid before them.
Sir G. GREY said it was an extraordinary proposi-
tion on the part of the lion. Gentleman, that civilians
could form no opinion on naval and military expendi-
ture ; the Hon. Gentleman being one of the foremost
on all occasions to take objections to naval and military
estimates.
The name of Mr. Corry, Mr. Walter, Mr. E. Ellice,
Mr. W. Miles, Mr. J. Greene, and Mr. Baring were
then added.
On Sir T. Acland's name being proposed,
Mr. G. THOMPSON insisted upon the necessity of
at least one professional man being on the Committee.
It appeared to him that otherwise the Committee would
be entirely at the mercy of the witnesses. What
would be the respect paid by artist witnesses to a
Committee on art, no Member of which knew anything
about art ?
Mr. LABOUCHERE vindicated the selection made
by his Right lion. Friend, and among other Members of
the Committee pointed out Sir James Graham, as a gen.
tletnan whose practical knowledge of the management of
the navy rendered him more valuable on this Committee
than a dozen admirals would be.
Mr. M. MILNES considered the Committee as it stood
would be infinitely more useful, and infinitely more
satisfactory to the country, than if it were a Committee
at all composed of professional men.
Sir 11. VERNEY said that a professional man on the
Committee would direct inquiry to many matters of
which non-professional men had no idea.
The Earl of LINCOLN admitted chat the names of
Sir James Graham and Mr. Corry were satisfactory as
regarded the navy, but he thought the composition of
the Committee would be improved by the addition of a
member connected with the army.
Sir. T. Acland's name was then added.
MISCELLAN SOUS ESTIMATES.

they
which should
refer to the vneral taxation, the pressure
ore should be made to bear equally unon every de-
la iphon of property fairly and equitably. H t would not
ron. further into the question ; but he hoped that his
, Friend would withdraw his proposal, and allow the
Louse to proceed to the main business of the evening,
snd to decide the question whether they were to have
nincome.tax or not The other question that had
be eh mooted, as to whether the period should be limited
'utle year would arise when the House considered the
resolutionol/0 , Csmmittee ; but he must again ask his
Friend whether after the disposition which the
:I'stailed manifested with respect to his proposition, be
w:hio.not withdraw it, and thereby enable the Govern-
wur, to bring to a conclusion a question respecting
..._4;Lelrtatihrietyivlo(le country was at present in a state of
Hear, hear.)
sh_4l • F. T. BARING would detain the House a very
The time whilst he stated his views on the question.
proposition before the House was one of great im-
Wens._ 11,.e..e. lie did not agree in the suggestion of the
heea: ,alember for Montrose, and his objection to it was,
41• 4,Se. he considered it necessary that five millions and
thi7!thould be supplied by taxation, and he did not
it
could be raised if the income-tax were to be
CoePhtetsed- What he understood the Hon. Member for
eilllollth to ask was, whether the House would put
ieirttr on a fairer footing than that upon which it was
:tied before they consented to go into Committee.
hot Z., b.ehrred in that proposal. The Hon. Member did
the House to diminish the amount of the tax.
AU 0 asked for was, that it should be levied in a fairer
ma▪
nner than it now was. If the House should be of
▪ that the tax could not be levied more fairly than it
m▪ ow*
w., 489 then the only course left for him would be to
Inr
sad worst
the revenue by voting for the tax in its present
ateugr shape. For what would be worse than the tax
be adefieieney in the revenue.—(Hear.) He said
this
th without having had any previous knowledge of what
pfteern• Member for Cockermouth was about to pro-
All he thought of the matter was that it was a
cal method of taking the opinion of the House
upo"
sr: the tax. If the House should be of opinion that it
ill. not practicable to adjust the tax so as to make it
:Pra fairly, he did not think the Committee could
ofa,
that object, and consequently there would be an
su▪
.`"ill efforts for making the burden fall equally or,
ba,'Nee. But when the Hon. Member for Montrose
tiro the continuance of the tax because he thought
aii,,flPeoditure Could be reduced, he (Mr. Baring) v as
.btnoh disposed to distrust the Hon. Member's pro
`cit7CY all he himself had been to trust the prophecies of
14 Pie Everybody admitted that the tax was unequal
th.:111 pressure. He would not go into the details of
-Cr ~,Inequality; but he confessed that when it was pro-
posed by by the Honourable Member for Montrose to limit
% :Ix to one year, he looked
._ with great alarm at
Plan by which so large an amount of re-
lit, would be placed on so unsafe a footing.
rd that fear was one of- the grounds on which he had
kirslly opposed the income-tax. He had not changed
h_ Opinion on the subject. He always thought the
„..'s would come when the tax would become unpopular,
'ad he also had anticipated a great inconvenience to the
:none when the outcry against the income-tax should
~'.°1140 general. The Right Hon. Member for Coventry
expressed a desire to see the revenue placed on a
':4401e foundation. He (Mr. Baring) concurred in that
wish,Z but for that very reason he should vote for the
,Paition of the Hon. Member for Cockermouth. It
"as intended to perpetuate the tax, the Government
moat make it more equitable and equal. The leading
ten of the various parties in the House appeared to be
Z_°Pition that the tax, if continued, must remain' as it
4 He looked with great discomfort at the result of
the night's proceedings. For, if the tax must be con-
tinued in its present unjust form—he might be mistaken
'4hhut he warned the Right Hon. Gentleman that the Go-
gthtthentwould only be postponing its difficulties, and that
tuey now got the tax again for three years they must
matte a change in it at the end of that time, or else
neandon it. The Government ought, at least, to try to
make it fairer, even if they despaired of making it
MtriTente—(Hear.) It was in vain that his Right Hon.
end the Chancellor of the Exchequer told him the
Plan of the Hon. Member for Cockermouth was not
restfeste—(Hear, hear.) It was true that the proposal
Bre the House was not without its faults, nor did he
mean to commit himself to its details in all their, rigour.
gistputting that consideration aside, it was the impera-
sluty of the House to devise the means of making
the'tax fairer.—(Hear, hear.) The straightforward
anon
sense of the people would not be satisfied with
le "—(Hear hear.) There would always be anomalies
,„
as classified taxation, but that fermed no just reason
sad an effort to equalise the tax should not be made;
.cl
t„... if the Government set about the task he was con.
they would be met by the whole country in the
"""o, e spirit, and that there would be little or no
wasatisfaction at the continuance of the tax. With
'aspect, to an argument of the Right Honourable
%gentleman opposite (Mr. Goulburn), he must
18.7 that he did not think there would be
VI breach of faith towards the fundhoider in taxing
In according to the proposition before the House.
The only injustice would be in taxing him alone—in not
11! the same time taxing the other portions of the coin-
"""alllitY• If the House rejected the proposition of the
etas Member for Cockermouth he should not vote for
that of the Hon. Member for Montrose ; but he should
tlee... In it his duty to support the proposition fur imposing
'lle tax with all its present odium.—(llear.)
Mr. MUNTZ said the Right Hon. Member for Ports-
month had dose a great kindness to himself and H S
",,Ittitry by the speech he had just made. Ile (Mr.
111,11utz) had received a letter from one of the Right
Gentleman's constituents, expreasing surprise at his
declaration that he had been satisfied with the with
..„
untwist of the additional 2 per cent. on the income- tax.
The last time he had spoken on the subject he recom
mended Ministers to make the tax more palatable, and
the Right Hon. Member for Portsmouth had made some
very just observations to the same effect. If the Govern-
anent refused to do so, they would not carry the people
With them. There ought to be a tax on real property ,
levied on a different principle to that on incomes de-
rived from personal labour. The question, however,
for present decision was, whether to adopt the proposi.
tiOn before the House. He was of opinion that the in
quisitorial injustice of the tax would nut thereby be g,
id of, and he should therefore vote against it.
Mr. J. WALTER rose amidst loud cries of " l)ivid

for Nottingham told the House that some other mode
of taxation must be resorted to. Now, although in 1842
he had been of opinion that it would be better to raise
additional revenue by new duties, yet, in answer to
such a proposal at the present time, he must say that he
was not prepared to reimpose or to increase duties, the
remission of which had tended so much to the comfort
and enjoyment of the poorer classes. lie did not think
it would be a wise step for the Government to propose
to raise five millions by increased excise duties. But
then it was said—and to that effect the present propo-
sition tended—" take the amount you require, but raise
it by direct taxation only in a more equitable mode than
by your present income-tax." Now, he must say that
the presumption existed against the proposition of the
lion. Member for Cockermouth, that the tax in its
present proportion was first settled by Mr. Pitt, who
whatever might be the difference between himself and
that statesman in respect to his foreign policy, v as,
in his (Lord J. Russell's) opinion, one of the greatest
financial statesmen that had ever existed. Mr. Pitt
showed, by reasonings of great cogency, why there
ought to be no distinctions made between income
derived from different sources. In 1842—as my Hon.
Friend the Member for Cockermouth has alluded to me,
I may mention it—l urged the arguments which
have been quoted against the tax; tan I stated at the
same time that the Right Boronet's reasons were
conclusive, and ought of themselves to induce the House
to accept the tax. I admit that in 1815 I was of opinion
that the tax might be modified—(Hear, hear)—but since
then, the more I have considered the subject—and I can
assure the Hon. Member for Cockermouth that it is not
only since Monday last that my Right Hon. Friend the
Chancellor of the Exchequer has considered it—but the
more I have considered the subject, either by myself or
in communion with my colleagues, the more am lim
pressed with the impossibility of making it in any degree
more fair and equal by any modification. I will not
weary the House by going into details on the subject.
The Right Hon. Member for the University of Cam-
bridge showed, by arguments which have not been an-
swered, that no such equality can be established.—(Hear,
hear.) But let me state the principle on which the
tax is founded, and why I think you would be defeated
in any attempt to make it more equal. The state im-
poses taxes on the ground that all classes arc equally
bound to bear its burthens. Suppose two persons.
each with an income of 5001. a year: but one says, I
am peculiarly circumstanced—mine is a precarious
income. The state says, "We do not inquire into
your circumstances, we only want to know what is
your present income, and we take a certain portion
for the purposes of the public." Suppose you were to
go on another plan, and take Bd. in the pound from the
person holding land, and only 6d. and 4d. from each of
the two other classes, the person deriving his income
trom Schedule A will fairly say, " You have nottreated
mo justly, you have added to my taxes, but you have
done so on a mistaken supposition, because I have only
a life interest."—(Hear, hear.) In addition to this some
landholders might say, " My income does not go to my
daughters ; it is strictly entailed ; and for younger
children I have nothing to look to but my savings."
In the same way, the argument might be carried to
much stronger cases, such as jointures. The small
landowner might urge that it. was unfair to tax him at
81 in the pound, while his neighbour, the wealthy mer-
chant or manufacturer paid only 6d. This instance
was, in his opinion, a sufficient answer as to the
inequality of the tax. You must, then, be contented
with one of two things—either the injustice remains,
or you must set about investigating what is the
exact value of every man's income. I say, far
better is it to take the tax as it at present stands,
than by attempting to render it more equal to fall into
greater difficulty. Take the proposition now betore us.
Suppose we charge property in land Bd., I think it
would then be our duty to take into consideration all
those questions respecting taxation, in which it is urged
that the State burdens press unfairly on the land.
There is the expense of conveyance, with the 124 per
cent. charged for stamps. If you raise their income-tax
to Bd., ou must consider all those charges to which I
have alluded.—(Hear, hear.) I come now to the obser-
vation of my Hon. Friend the Member for Montrose as
to the general inequality of the taxes. He says there is
hardly a tax which is nut unjust; but he is willing to
give all those taxes for a single year, if Government
will be prepared to do away with all the inequalities by
the commencement of next year.—(A laugh.) Lie
Hon. Gentleman seems to think he is doing something
very handsome, and reminds me, in his pro.nised reward,
of ;the annual priz,!s given by the Privy Council to the
village schools. But however tempting, the Government
cannot accept his liberal offer. The revision of taxes
may be most desirable; that is a position which nobody
will deny. The Right Hon. Baronet the Member for
Tamworth carried it to a considerable extent, and made
many improvements in taxation; but yet there is the
excise and the stamps, in which there is great room for
improvements. But the task is not one for a year.
Mr. HUME—There would be no difficulty about it.
Lord J. RUSSELL—As for taking these taxes for
one year, I will not consent to it.—(Rear.) Whenever
we are able, by careful review, to make propositions the
effect of which will be to make taxes press less heavily
on industry, I can assure my lion. Friend that I will
most happily avail myself of the opportunity ; but I
do think that no Government in the present state of af-
fairs ought to accept a tax for a single year, and under
such a promise, because I think that if they did so
they would be endangering the credit of the country.—
(Hear, hear.) I repeat that my Right Hon. Friend
the Chancellor of tne Exchequer has never lost sight
sight of this subject of taxation ; but this I must say,
that the past year has been a jeer in which the most
ixtraordir:ary eff;irts were required to meet the emer-
grney arising from scarcity of food ; and I must
add, that I am not prepared now or in a
eeek'e time to propose any scheme of taxa
Tien better thee that which I now propose.—
(Hear.) I, therefore, with confidence, knowing what the
temper of the House was on former occasions, ask
this House to renew the income, tax, as it bad been pro-
posed by others in former times. I ask it fez. a period
of three years—the same period for which it has twice
before been granted. I ask it not for the purpose of
making new armaments or of adding greatly to our
forces by sea and land. I ask it for the purpose of
maintaining those forces we have, and of supporting the
credit of the country, and to show the world, at this
period of difficulty, that, whatever Goveretnent we may
have, we are disposed to give to that Government, with-
out distinction of party, a fair and liberal support.
The House then divided, when there appeared
For the motion
For the amendment
Majority for the motion
The announcement of the numbers was received with
loud chers by the minority.
Oil the question that the Speaker do now leave the
chair being again put,
Mr. HUME said he intended, in Committee, to move
that the tax be limited to one year's duration; and un-
less it was distinctly understood that the present pro-
ceeding was merely pro forma, ho should oppose the
going into Committee that night.
The CHANCELLOR of the EXCHEQUER ex-
plained that the resolution he was about to propose was
merely that the tax should be granted for a .further
time. The House would have afterwards to fix the

--;

The following Committee on the miscellaneous esl

mates was nominated :—Mr. Vurnon Smith, Mr. Her-
rieF, Earl of Lincoln, Mr. Henry, Mr. Henley, Sir
George Clerk. Mr. Rice, Mr, Stafford, Dr. Bowring,
Mr. Parker, Mr. Bramston, Mr. Horseman, Mr. Has-
tings Russell, Mr. Henry Arthur Herbert, and Mr.
Corbally.
The House then adjourned at half-past 12 o'clock.

Ile would Lot sup to inquire whether the corn-laws,
the currency, or the French revolution were, as had been
anued during the debate, the cause of the present posi-
tion of the revenue.—(Cries of " Divide.") The Chan-
cellor of the Exchequer had failed in making out a c :se
zer the continuance of the tax. On the contrary, he had
roved it to be unjustifiable. He (Mr. Walter) had
hoped the Right Hon. Gentleman would have taken some
longer time, in order to devise a tax more equitable than
the income-tax. But it seemed to him as if the more
!PPressive the tax, the more eligible and pleasant it was
for the Ministry to propose and detencl, He might say
0f the income-tax what the moralist had so aptly said of
boo--which
" Was a monster of such hideous mien,
That to be hated needs but to be seen;
But seen too oft—familiar with its face,
1. We first endure—then pity—then e mbrace."
If income-tax was required to maintain the credit of
tie country, at least it ought to be levied on fair princi
01Ples,(•, Divide, divide," and confusion.)
Mr. G. ROBINSON rose, amidst a prolonged " Oh !"
which lasted some minutes. He would not detain the
nouse long. He recommended the Government to ac-
CePt the proposal of the Hon. Member for Montrose, and
agree to take the income-tax for one year certain, with
a° engagement to enter into an inquiry as to the best
!Lad cheapest mode of raising the revenue, with the least
Inconvenience and injury to the commerce and manufac-
turers of the country. He would tell the Government
if they persisted in their proposal to take the tax for
three years they Rould drag with them many Members
who were unwilling to vote against them, and who would
thereby forfeit their popularity with their constituencies,
and be placed for the future in a precarious situation.—
(Rear, and laughter.)
Lord J. RUSSELL said that from the solemn manner
in which the Hon. Members who spoke last bad ad•
dressed the House and the Government, he thought
himself called upon to make some reply to them and to
Member Hon. Memr for Montrose. His Hon. Friend (Mr.
Flume) had noticed the diversity of opinion which existed
In that House as to the income-tax, and he had stated
that amongst twelve political economists who were
accustomed to reason on such subjects, there was not
one of them who did not differ with his fellows on the
Principles of taxation. If the -fact was as his Honour-
able Friend had stated, there could be, a fortiori,
no Wonder felt that those not accustomed to reason
on 'such subjects should differ even more, than the
Ron. Member's friends had done on the question of
taxation.—(Laughter.) He did not look on the propo-
sition of the Hon. Member to be one to which the
Government could give its concurrence. He would state
to the. House what the position of the Ministers was.
In • the year 1842 Parliament agreed to impose an
iturme-tax, for the double purpose of supplying a defi-
ciency which existed in the revenue, and of enabling the
ntliusters_to try an experiment whether the removal of
certain duties would not improve the revenue, by giving
fresh spring to commerce. Both of those objects
were fulfilled most amply, the deficiency of the income
was made up, and the revenue increased in consequence
Of the remission of duties producing a great influx of
commodities. The Government in 1845 again renewed
the income-tax, taking off at the same time a large
amount of customs duties and excise on articles of con-
sumption. In the two epochs no less than 7,000,0001. of
taxes and duties were remitted. Since that
Period the country had not enjoyed the same
Prosperity—adverse circumstances had occurred which
were totally independent of the remission of taxes and
duties. in 1845. The revenue arising from the consump-
tion of malt and spirits fell off in one year to the
amount of 1,300,0001. The question now was, whether
tinder these circumstances, the Government might
net very fairly and reasonably propose the re-
newal of the income-tax for another period of three
Years. The Hon. Member for Montrose said he could
not admit of the reasons for renewing the tax, because
there might be reductions effected in the expenditure of
the country by reducing the establishments of the army
and navy. The Honourable Member for Nottingham-
shire stated his opinion to be that those establishments
could not safely be reduced, but that some other mode of
taxation might be proposed. With respect to the opinion
of the Honourable Member for Montrose, without ad-
Verting more particularly to facts which were sufficiently
notorious, he would only observe that the Government
had not asked for more than was granted in the year
1845, when the greatest tranquillity prevailed on the
Continent. Such being the fact, ho did not think, in
the present state of Europe, that large reductions could
be made.—(Hear, hear.) He was glad to hear such an
exnession of the sentiments of the House—because he
11. a it to be quite unnecessary to say more upon this
Point than merely to refer to what the newspapers daily
2,,RlP°,„rted respecting the state of the various countries
Europe.—(Hoar, hear.) But the Honourable Member

limit.
Mr. HUME was satisfied, provided an opportunity
would be afforded of discussing the question of the du-
ration of the tax.
Mr. BRIGHT observed that, as the proposition for
the five per cent. income-tax had been abandoned, and
as the Government did not intend to propose any addi-
tion to the taxes of the country, he should not perse-
vere in his motion with regard to the legacy and probate
duties. He could not bring forward his proposition to
extend those duties to real property as a substitute for
the present income tax, as it would not produve one.balf
the revenue; he thought, therefore, it would be better
to submit it as a substantive proposition at some future
time. But should Government, during the present or
the next session, propose to add to the existing taxes,
and an alteration of the duties he referred to should not be
ancluded in the scheme, he should then bring the subject
under the consideration of the House.
The House then went into Committees of Ways and
Means, and a resolution was passed, pro forma, for con-
tinuing the present tax upon incomes for a further
period to be hereafter limited.
The House having resumed, the resolution was re-
ported, and the Committee ordered to sit again on Mon-
day next.
DIPLOMATIC RELATIONS (COURT OF ROME)
BILL.
Lord PALMERSTON moved that this Bill, which
had been brought down from the Lords in the early part
of the evening, be read a first time.
Sir R. INGLIS did not intend to provoke any dis-
cussion on the present occasion with regard to this mea-
sure, but, as it was one of very great importance, he
wished' to impress on the Noble Lord the necessity of
giving full opportunity for discussing it—(Hear)---and
to express his hope that the second reading might not
be pressed forward with undue haste or precipitation.
Lord PALMERSTON proposed to fix the second
reading for Monday se'nnight.
Sir R. INGLIS did not think there was a possibility
of Government being able to bring it ou so soon, and
suggested that a more distant day should be named,
when they might depend upon its being brought on for
discussion.
Mr. PLUMPTRE declared his intention of giving his
most determined opposition to the Bill.
Colonel SIBTHORP thought it unfair to bring on
even the first reading of a measure of this character at
that late hour of the night. It would appear, however.
that Ministers were becoming uncomfortable in their
offices, and begnu to be aware they must soon vacate
them (and for his part he cared not how soon)—
('. Hear." and a laugh)—and therefore they were reck-
less. By this Bill (which was a new attempt against the
Protestant Church) they showed that they had neither
the fear of God or man betore their eyes,--(Hear, hear.)
He Protested against the introduction of such a measure,
and should oppose it in every stage.—(" Hear," and a
laugh )
Mr. lIINDLEY considered the Bill had been much
improved since its first introduction into the other
House.--(Order, order.) He *till, however, entertained
a great objection to it. What good could it do to this
country to establish diplomatic relations with the Sove-
reign of Rome ? Already we spent 150,0001 a year in
diplomacy, as he believed, without any benefit to the
people of England, but merely to give an opportunity:to
some members of our aristocracy to reside in foreign
countries at the public expense.—(Hear.) His objection
to the Bill was not on account of the religion of the So-
vereign of Rome, but he thought when that Sovereign
asserted a spiritual authority over all who professed the
same religion, it was a matter for consideration whether
it would not be unwise in a Protestant country like this
to open diplomatic relations with him.—(Hear.)
The Bill was then read a first time, and ordered to be
read a second time on Monday se'nnight.

TiiE SUN, Lo ON,

IVISIONS.

OVERLAND MAIL

INDIA AND EcliPr.

(From the Times.)
We have received by express from Marseilles our
letters from India in anticipation of the Overland
Mail of the Ist of February. The dates so received
are from Calcutta to the 21st of January, Madras
to the 20th of January, and Bombay to the Ist of
February.
The period over which our advices from India
extend had been almost barren of incident, at the
same time that there had been an interregnum in
political affairs, occasioned by the entrance into office
of the new, and the retirement of the late, Governor-
General.

Lord Hardinge left Calcutta on the 18th of
January. Subscriptions for a statue to be erected
at Calcutta in his honour had reached the sum of
2,0001. within a few days from their commence-
ment, at a time of unexampled pressure in money

matter&
A notification had been published in the several
presidencies, under instructions from the India
House, announcing that the sum of 60,0001. was to
be raised in India by bills on the hypothecation of
goods for the service of the East India Company. The
advance on goods will be to the extent of three-fifths
of the value. In the similar operations of 1842 the
advances amounted to three-fourths of the value. The
rate of exchange is fixed at ls. 10d. per Company's
rupee—an increase of 6 per cent. on the former ex-
change. In other respects the conditions of transac-
tion are the same.
With respect to affairs in Goomsoor we learn
that a field force had marched from Berampore upon
the territory of the Ungool Raja, with the intention of
demolishing the forts in that district. The Ungool
Raja having refused to appear before the British
Commissioner at Cuttack, had been proclaimed a
rebel to the state. This step was regarded as the
commencement of a Goomsoor campaign.
From Lahore there is not any news of moment.
The Delhi Gazette, however, states that on the oc-
casion of an inventory being taken of the treasury of
gifts belonging to the late Runjeet Singh, upwards
of two lace and a half of rupees, unknown before,
were found. The Friend of India adds that the sum
in question proved most opportune for the Lahore
Treasury.
It was affirmed that Dost Mahomed at Caubul had
for some time been hoarding portable treasure, and it
was suspected—at least asserted by native writers—
had secret intentions of proceeding from Jellalabad to
Peshawur, and placing himself under the protection
of our authorities ; but it was added that obstacles
had arisen to prevent the Ameer's contemplated visit
to Jellalabad, the ulterior design having been sur-
mised and frustrated by his turbulent son, Haider
Khan.

Our correspondent at Bombay, writing upon the
effect of the home failures at that place, says—" The
effect here has been comparatively slight. I told you
as much in anticipation some time ago. A third
house has deferred payment within these few days,
but it has taken no one by surprise. The two con-
cerns which have failed were second-rate, and lately
established. Hitherto much of the system of busi-
ness here has been as unsound as elsewhere in India.
False credit has been kept up through Parsee brokers,
as in Calcutta it was done by forced transactions in
produce. Excepting two head firms, every Bombay
house employs a broker, who, for 2 per cent. on the
sale, guarantees payment ; while, of course, this
broker has again his own system for guaranteeing
himself, by securities and payments from the buyer,
amounting to from 2 per cent. to 5 per cent. more.
This system may have its advantages with a sound
house, as it secures from bad debts ; but if, as
was the case with the houses that have gone, forced
shipments must be made and the capital borrowed
from the broker at nine per cent. (the established rate
in such instances), the result cannot but be ultimately
ruinous alike to the speculator and to the general
market. As regards Bombay, the effect of the late
crisis must prove beneficial. Transactions are more
likely now to be of a bond fide character, based on
the demand ; and the market will then offer fair re-
muneration. Probably, however, we are not yet at
the end of the chapter of accidents. Nearly 150,000
bales of cotton have gone home this season, at an
average of Si. the bale, and you best know what they
are now w orth. You may presume that the new
offers of hypothecation are not looked upon very
favourably by cautious houses here, yet there is this
to be said in favour of present terms—that the differ-
ence between the present and former advances (three-
fifths of the value in place of three-fourths, or a
diminution of fifteen per cent.) will prevent reckless
transactions, since the speculator with only sixty
per cent. advance must have a good share in the
purchase."
The departure of the Governor of Bombay on his
visit of inspection to Sinde had been fixed for the 8:h
of February. His Excellency would proceed to the
mouth of the Indus in the Hon. Company's steamer
Semiramis, and thence embarking in a smaller
steamer proceed up the river to Hyderabad.
Our correspondent at Calcutta writes as follows.
His letter is dated January 24 :
" Since I last wrote to you Lord Harding° has
departed, receiving of course the usual compliments,
and leaving behind him a successor whose appearance
and demeanour encourage us to expect an energetic
and open-eyed Administration. The subsidized states
will probably require to be brought more immediately
under British influence and control, but with this
exception Lord Dalhousie's labours will probably be
limited to our present possessions, which of them-
selves present a boundless range of useful action for
the ablest statesman. The revision of the law, the
promulgation of European knowledge in the native
languages, the infusion of a greater degree of zeal
into the services, and, as a means of attaining all
these good ends, the reconstruction of the Supreme
Government, in which the vast realms subject
to
Madras and Bombay are wholly unrepresented,—all
these are subjects which press upon the Indian Go-
vernment.
" But in the mean time the melancholy aspect of
commercial and pecuniary affairs has produced much
dejection and distrust. The case of the Union Bank
turns out to be much worse than ever was surmised
by those who were most unfriendly to its manage-
ment. The bank has been closed, and it only remains
for the shareholders to get in the :assets, and by a
vigorous effort to meet the demands which are press-
ing upon them. The bank, as a bank, is insolvent.
The committee of shareholders report the liabilities to
amount to 68,82,610 r., and the assets to 61,07,990 r.
They recommend an immediate call of 200 rupees per
share upon the present registered proprietors, and an
application for a loan, i.e., a call of 20,000 rupees
upon all who are or were proprietors when the exist-
ing liabilities were incurred, without reference to the
number of shares held by each, to be repaid after the
discharge of the liabilities. The concern to be wound
up under a committee who are to act in concert with
the creditors, and to compel contributions by
prevailing upon the creditors to proceed against those
who refuse to pay the call. The debts of the Bank to
be paid by monthly instalments, beginning in March
and extending over the space of twelve months. The
committee recommend an immediate investigation of
the causes of the bank's insolvency, being of opinion
that if delinquencies have been committed they ought
to be fully exposed, and the principal :parties con-
cerned in them punished, if any instance sufficiently
flagrant can be found to justify an appeal to the law.
" This report has, with slight modification, been
adopted by the shareholders, but it is a matter of
doubt whether the most willing creditors—especially
those who have the interests of others to protect—can
afford to wait a whole year for the liquidation of
their claims. There can, however, be no question
that the scheme is an honest and manly effort to re-
pair the mischief that has been done ; but the creditors
are exasperated by statements which are universally
believed. The truth of all these matters will now
have to be very severely tested. In the meantime,
public opinion is most unfavourable to the late ma-
nagement of the bank; and the shareholders are in
despair, as any one of them could be ruined by any m
creditor who chose to take out judgment against hi
on a claim against the bank. Much amazement is felt
at the lateness of the Bombay express, of which no
tidings have reached us. Two public meetings of
creditors have taken place.
" The liabilities of Lackerstein, Brothers, and Co,,
are stated at 15,56,000 rupees odd, and the assets
10,13,000 rupees. The liabilities of John Wienholt
and Co., 3,80,000 rupees; assets, 3,84,000 rupees.
The business of both firms to be wound up under
inspection."
The following casualties by death in the armies of
India have been reported since the departure of the
mail of the 16th of January :
Her Majesty's Troops—Lieutenant W. H. Kelson,

Ceylon Rifle Regiment, at Victoria, Hong-Kong, on - At three o'clock the Hon. Captain Hotham (one
the 19th December. of the directors of the London and Brighton Rail-
Bengal—Captain Peregrine Powell Turner, 61st way, and chairman of the Directors of the Brighton
Native Infantry, at Saharunpore, on 10th January.
Madras— Lieutenant C. B. Bartley, 17th Native and Continental Steam Navigation Company)
started from Brighton to Newhaven with
Infantry, at Secunderabad, on the 12th January.
Indian Navy—Captain John Hindes, late of the a' special train, to visit his Majesty. One
Hon. Company's Marine Department, at Negapatam, of the carriages was that with extra fittings
on the 4th January. which was built for the use of the Duchess of Kent
Our advices from Alexandria, which are to the at the time that her Majesty paid occasional visits to
21st ult., announce that his Highness Mehemet Ali, Brighton. It is intended for the use of his Majesty
who came down to Alexandria from Cairo on the on his departure from Newhaven.
12th ult., left for Malta in the French steamer Alex-
andre on the 14th, his medical advisers having deter-
mined upon trying whether a sea trip would not be
of benefit to him, as the change from Cairo to this
place had brought on a slight improvement in his
health. A French steamer was placed at the disposal
of Mehemet Ali by the French Consul, M. A. Barrot,
who induced his Highness to take his passage in her
on acount of superior accommodation and her rea-
diness to proceed to sea at once. As the Pacha was
going out all the shipping in the harbour dressed,
manned yards, and fired a salute, the English steam-
frigate Sidon, waiting here the arrival of Lord Har-
dinge, being conspicuous by the hearty cheers of the
crew as the Alexandre passed by. Mehemet Ali
was very unwilling to go to Malta and wished to
proceed to Candia instead, so that the French Consul
had some difficulty in persuading him to accede to his
wishes, which his Highness did only as they were
leaving the port.
During Mehemet's Ali's absence Said Pacha is to
be Governor of Alexandria, and Abbas Pacha is to be
at the head of the Government at Cairo.

ANOTHER ACCOUNT.
Our readers are aware of the manner in which the
King and Queen quitted the Tuileries, and the
statements which have appeared in the papers are
perfectly correct relative to their departure from the
city. NVe may here state, however, that Louis
Philippe and his Consort were accompanied by
General Dumas and General Rumigny, Thuret
(valet to Louis Philippe), and a German attendant
upon the Queen. This comprised the whole of the
party who fled with Louis Philippe.
On leaving Paris they proceeded to Versailles,
where they hired a common vehicle to take them to
Dreux. Here they put up at the house of a person on
whose fidelity they could rely, where they passed
the night. This friend, whom we understard to be
I farmer, procured disguises for the royal fugitives
and suite, the King habiting himself in an old cloak
and an old cap, having first shared his whiskers,
discarded his wig, and altogether so disguised him-
self as to defy the recognition even of his most
intimate friends. The other disguises were also
complete.

Although we have stated above that they passed
the night at Dreux, they started long before daylight
on their way to La Ferte Vidame, where Mr. Pack-
ham has been building a mill on some private pro-
perty of Louis Philippe. On their route they were
accompanied by the farmer, who promised to see them
in safety to the coast through a country with which
he was well acquainted. They took the road of
Evreux, twelve to fifteen leagues from Honfleur.
They travelled chiefly by night, and reached Hon-
fleur at five o'clock on Saturday morning. They re-
mained at Honfleur, in the house of a gentleman
whom the King knew, for a short time, and then
crossed to Trouville, a short distance from the town.
It was their intention to embark at Trouville, but
owing to the boisterous state of the weather, they
were compelled to remain at the latter place two days,
when finding they could not embark, they returned
to Honfleur, with the intention of embarking from
that place, but the weather still continuing very
rough, and the King fearing that the Queen in her
exhausted condition would be unable to bear the
fatigues of a rough passage, deferred his departure
till the weather changed on Thursday. In the mean-
time information was secretly conveyed to the Ex-
press, Southampton steamship, that she would be re-
quired to take a party from Havre to England.
On Thursday afternoon the gentleman who
sheltered the dethroned monarch and his consort at
Honfleur, engaged a French fishing-boat to convey
the fugitives from Honfluer;to Havre, and fearing that
in this small vessel the features of the king might be
recognised, the gentleman engaged a person to inter-
pret French to the King, who, to render his disguise
more complete, passed as an Englishman. Nothing
of moment transpired on the passage to Havre, where
the Express was waiting with her steam up, and at
nine o'clock on Thursday evening the royal fugitives
and suite set sail for England. The vessel reached
the offing of Newhaven harbour at seven o'clock this
morning, but owing to the state of the tide she could
not enter the harbour till nearly twelve o'clock.
Meanwhile, however, General Dumas and General
Rumigny landed in boats ; General Dumas proceed-
ing to London with the intelligence of Louis Philippe's
arrival, whilst General Rumigny repaired to the
Bridge Inn, and gave directions to prepare the best
apartments,'.for some guests about to land on the pier.
This, of course, was done ; but having ascertained
that the guests were no less than the ex-King and
Queen of the French, the landlady laid carpets from
the entrance door to the sitting-room, and every
arrangement was made to render the apartments as
comfortable as their size would admit.
Shortly before twelve o'clock the royal fugitives
landed onthe quay, and the moment the King set his
foot on the shore he emphatically exclaimed, " Thank
God, lam on British ground." Mr. Sims, the land-
ing waiter, who handed them on shore, conducted
them to the Bridge lan. On the way thither the
King was met by several of the inhabitants, who
offered their congratulations on his safe arrival, and
with whom he shook hands most cordially. His Ma-
jesty looked fatigued and careworn.
Shortly after his arrival, Mr. Catt, of the Bishop-
stone-mills, a short distance from Newhaven, who
was presented to the King two years ago at the
Tuileries, by Mr. Packham, had an interview with
him, and offered the hospitalities of his house.
Louis Philippe thanked Mr. Catt, but declined his
invitation. He then inquired for Mr. Packham, and
learning that he was at Brighton, expressed a desire
to see him immediately. Most of our readers are
aware that Mr. Peckham has for years been a prolcg.4
of the ex .King and a tenant of his Majesty for
some extensive mills, his private property, near the
Chateau d'Eu. Mr. Packham was with his Majesty
on the memorable Tuesday appointed for the Reform
Banquet up to within nn hour of the outbreak of the
revolution. He now resides in Brighton, having re-
tired from the management of the establishment,
which is now carried on by his nephew and other
persons.
Mr. Packham, on the messenger reaching him at
Brighton, immediately posted to Newhaven with a
gentleman named White, who had been in the house-
hold of Louis Philippe many years.
The news of the King's arrival at Newhaven
reached Brighton soon after one o'clock, and a special
train was dispatched front the terminus to New-
haven with the Hon. Captain Hotham (one of the
directors of the London and Brighton Railway, and
chairman of the Brighton and Continental Stearn
Navigation Company), Mr. Fountain (superinten-
dent of the railway traffic at Brighton), Captain
Moore, of Newhaven, &c. Our own reporter was
also accommodated with a seat in the train. On his
arrival at Newhaven at four o'clock, he found a small
assemblage of persons near the Bridge Inn ; but. no
manifestation of feeling appeared amongst thrill,
Captain Hotham and Mr. Fountain had an interview
with the King, whose wishes they asked with regard
to railway accommodation.
Learning that Mr. Peckham was at the inn, our
reporter sought him out, when Mr. Packham at once
introduced him to his Majesty. The King, who was
reading an English newspaper, immediately rose and
said—" I thank you, gentlemen, and all whom I have
met in England, for these kind congratulations, and
the hospitality which has been shown me." His
Majesty had changed his attire, and was dressed in a
plain suit of black. He looked well, and the marks
of anxiety which had shown themselves at his landing
had disappeared. He was quite cheerful. The
Queen was in the room writing a letter, and appa-
rently buried in thought. She scarcely noticed the
preseneteo othfesiing
tirangedrus.rinSgetvheeradla)p.ersloines intro-
ducedsweeemreed
gra-
tified at their calling, and spoke freely and pleasantly
to all the visitors.
Mr. Packham offered to receive the King and
Queen in his house at Brighton ; in answer to which
the King said, " Mr. Packham, I feel much obliged
to you ; but these good people of the house have
treated me so kindly, and as I feel rather fatigued, I
beg to decline your kind offer. I wish to wait an
answer from the express to London."
Before Mr. Packham left him, the King gave him
the whole of Hs money for the purpose of getting it
exchanged for English coin and purchasing wearing
apparel, "of which," said the King, smiling, "I am
very short."
Mr. Packham, Mr. White, and the ex King's valet
then proceeded to Brighton in a post-chaise. On
leaving Newhaven, Mr. Packham, to whom our
reporter is indebted for the above particulars, in-
formed him that it was the King's intention to pass
the night at Newhaven, and proceed to London in the
morning.—'limes.

COMMERCIAL INTELLIGENCE.
CALCUTTA MONEY MARKET, JAN. 21.
BANK OF BENGAL.

Discount lon Govt. Acceptances (3 months) 6 per ct.
on Private :Bills and Notes (ditto) 10 „
ion deposit of Company's Paper ... 8 „
Interest Icitto on Cash Credit Accounts ... 8i „

DESPERATE ArFRA.Y WITH POACHERS.--About two
o'clock in the morning of Sunday last, three keepers on
the estate of A. R. Drummons, Esq., of Cadlands, in
the parish of Fawley, near Southampton, were out
watching some poachers, having heard the report of
guns, when they came upon five desperate men. A
serious attack commenced, when George Payne, one of
the keepers was struck desperately by one of the
w poachers,
named Morris, with the butt end of his gun, with which
he so fractured the skull of the keeper that he dropped
down as if dead, the violence of the blow breaking the
skull into the brain; the gun went off at the same time,
shattering the hand of Morris, blowing oft' all the fleshy
tpaert,potheeeheeorn, whotentsoes,
of the
felsi aamse
egudneeedntmeraion.g theTh
The other
oe
rf
h
two keepers took Smith, one of the poachers, into cus-
tody- at the time, three getting away; but we are happy
to hear they are known to the police. Morris, the
poacher was taken to his own house, it is thought, by
the three who escaped; Payne to the keeper's lodge,
where he lies in such a state that there can be no hopes
of his recovery, he not having spoken since he was so
struck; Morris, it is thought, may recover. Dr. Warren,
of Fewley, attended upon the poacher; and Dr. Budd,
of Fawley, and Dr. Bullen, of Southampton, on Payne,
the keeper. Morris has a wife and three children;
Payne is a single man. The poacher William Smith
was taken to Winchester Gaol. Payne died on Wednes-
day, and an inquest was ordered to be held on his body
on Tuesday next.
BANN NAVIGATION.—The labourers at Carnew
struck for wages, on Tuesday last. When called an
to deliver the implements belonging to the Boar of
Works, they refused, and used threats to officers over
their. Summonses were issued on Thursday, by G.
Becknell, Esq., against upwards of fifty persons for the
offence. It has been stated by some of the men that
they could hardly cam 6d. a day.—.,Fanner of Mtor.