The Sun.
London, England, 1860-04-19 00:00:00

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TWO-YEAR-OLD STAKES•

HOUSE OF COMMONS.—(THIS EVENINU
The SPEAKER took the chair at four o'clock.
PRIVATE BUSINESS.
The Bradford, Wakefield, and Leeds Railway Bill, and
Widnes Gas and Water Bill were read a third time.
Several private bills were read a first time.
roriTioNs.
Several petitions were presented in favour of and against
the Wino Licensing Bill; against the Highway Bill; in
favour of certain alterations in the Attorneys, Solicitors,
and Conveyancers' Bill; against the abolition of church-
rates without an equivalent for that impost ; against the
present mode of paying irromoveable power out of
the common fund ; in favour of the total abolition
of church-rates; praying that the jurisdiction of bank-
ruptcy courts may be extended to county courts
in favour of a chano.e in the mode of national
education; for affording additional facilities to Roman Ca-
tholic soldiers and sailors to attend places of divine service ;
in. favour of increased remuneration to medical officers at-
tending the poor ; in favour of the total suppression of the
sale of intoxicating liquors ; against legalising marriage
with a deceased wife's sister, &c.
EDINBURGH CITY.
Mr. CAIRD moved an address far return showing the
number of householders belonging to the different profes-
sions, trades, and other occupations within the parliamen-
tary burgh of the city of Edinburgh; the rent, without de-
duction, of their houses, classifying the rentals into that of
£lO and upwards, those at £6 and under £lO, and
those under £6, all taken from the valuation
roll of the burgh prepared under the Lands Valua-
tion Act for the year 1859-60 ; the return to be divided
into four sections—the first to comprise those classes of
householders of whom there are none who occupy houses
under £lO ; the second those classes who occupy houses
under £lO, and of which more than one-half are from id to
£lO ; the third section to contain the more skilled labour
classes who are not included in either of the foregoing sec-
tions ; and the fourth to contain the less skilled labour
classes who are not included in any of the other three sec-
tions—all the columns to be summed up, and an abstract of
the results to be appended.—Ordered.
BOROUGHS (ENGLAND AND WALES).
Lord E. THYNNE moved an address for return of all
the boroughs in England and Wales which are not conter-
minous with the parish or parishes in which they aro
situated.—Ordered.
REFORM BILL.
Mr. E. JAMES gave notice that he would ask the noble
lord the Foreign Secretary whether, on the second reading
of this bill, it was proposed to refer it to a selcot committee,
or whether it would be proceeded with this session.
NATIONAL EDUCATION.
Mr. HENNESSY asked the Chief Secretary for Ire-
land if a reply had been given bp the Government to t
the
letter letter from the Roman Catholic bishops, dat March
1860, with reference to Rational education in Ireland r
Mr. CARDWELL replied in the negative.
FOREIGN AFFAIRS.
On the motion for going into committee of supply,
Mr. HORSMAN called the attention of the house to the
state of our relations with foreign powers, and to ask some
explanations on the subject from the Government. He
said the affairs of the continent were in a more threatening
condition at the present time than they were when the session
commenced. and foreign states were trembling at the state
in which they now found themselves placed. Under these
circumstances, he wished for some information on the part
of her Majesty's advisers to show that the Government were
of one mind and cordially united as to the policy which
they intended at this crisis to pursue in order to support the
honour and interests of England. (Hear, hear.) Having
referred to the despatch of M. Thouvenel and the state-
ment of that Minister, he next proceeded to the
question of the annexation. Assuming that that annexa-
tion was a mere accidental circumstance, or that it was
an indication of the policy which the Emperor of
the French proposed to pursue— with regard to
either, he wished to know what was the course this Go-
vernment had determined on in an emergency calculated to
affect' powerfully all the States of Europe. The hon. member
then adverted to the statement made by Lord J. Russell
previous to the adjournment fur the Easter holidays, and
remarked that M. Thouvenel had twitted the noble lord
that there had been no protest against the annexation.
Now, he regretted that there had not been such a protest,
for it did notnccessarily involve this country in a war
against
t
the policy to which it was opposed. That tvaluable, as a proof that this country did not acquiesce
in a particular line of policy, therefore its not being
made in the present case was a political error. There was
sufficient to arouse the suspicion of this
of they, countr both
in the past and the present, that the Emperorrenc
aimed at territorial aggrandisement. (Hear, and No, no.)
There were rumours that Prussia was being assailed with a
view to promote that policy, and that overtures had been
made relative to the rectification of the Rhenish frontier,
and that a favourable issue to France would be rewarded
by the annexation of certain minor states. A map of
Europe, published in Paris two years 'ago, had acquired a
new signification in the eyes of Frenchmen, and it 61.1g-
gested the aggressive policy of the Emperor of the
French. (hear.) According to that map Lombardy
was annexed to Sardinia, changes were effected in Morocco
in relation to Spain, but the greatest alterations indicated
by that map were in reference to the minor Status of Ger-
many. (Hear, hear.) The latter were apprehensive that
by the force of external influence they would be -
nexed to n'ussia. He contended that Prussia was at that
moment threatetiZ.l. by France, and in this emergency she had
no friend to rely on but t,Ns country. If she could not rely
on this country, then she woald be driven to make her own
terms with France, and the result m;;;Iit prove most deisdatshaotuist
to the interests of England. Switzerlar2
would brave even the colossal power of 14
1 I rathero the coun-
yield an inch of her territory, and he appea ec
Franceesttat than
try not to abandon this brave and freedoni-lco_viensgState.
Ile contended that an alliance with France, whi h fringed..
this country from the other StatesoaflEhaunrce,epowlvtahsFunraphoclettNivce,
and that by our present clossness of • _
had rendered ourselves ridiculous, for there was no analogy
between us and that country in feeling, form of government,
or morality. (Hear, hear.) Ile earnestly called on the
noble lord the Secretary for Foreign Affairs, in whom he
had confidence, to acre this most important crisis in a
manner that would pnt the dishonour and disgrace of
this country. (Hear, hear.)
Mr, DUFF olaiducia that this country was not pro-

1
Folkestone 2
Little Lady
Neighbour

Sixteen ran.

LATEST BETTING.
TWO THOUSAND GUINXAS.
5 to 1 apt Tom Bowline. (taken)

THE STATISTICAL SOOIETY.

At the ordinary meeting of the above society,
held at their rooms, 12, St. James's-square, Colonel
Sykes, M.P., in the chair,
Mr. NEWMARCII read a paper on Indian currency
and banking. He commenced by explaining that
the system of banking in India was of two kinds,
the one internal the other external. The business of
the former was confined to transactions having
their origin and termination in the country, and
that of the latter consisted in discounting bills, &c.,
that would have to be paid out of India. There
were several banks in India of European origin, but
besides those there was a very ramified and exten-
sive. system of native banking going on all over
even where European banks could not go.
The inconvenience of transmitting money in India
had been felt, and merchants and traders had re-
sorted to the plan of procuring a banker's draft on
another banker, and that was considered the safest
means of sending it. Having explained the manner
in which the money was spread over the face of
that country, he proceeded to criticise the plan pro-
posed by Mr. Wilson for the purpose of establish-
ing a paper currency in India. He did not mean
to object to the paper circulation in India, for he
considered it a first-rate State necessity. Mr. Wil-
son had proposed, too, that the circulation should
be in the hands of the Government, and not en-
trusted to any of the banks; that the bank note
should be a legal tender ; that the notes should be
issued through the local treasuries; and that they
should be issued by currency commissioners, who
should have the management of the whole business.
It was important that the notes should at all times
be convertible, and for that reason there should
always be a sufficient amount of bullion in the
office to meet them. lie objected to Mr. Wilson's
plan for three reasons: because it was new in prin-
ciple in being attached to the Government ; it was
new in practice; and it was new in machinery, as
it discarded the idea of establishing a great cen-
tral bank. It was also proposed to hold one-
third of the money received for the notes, and
to invest the remainder in Government secu-
rities, but this would never do, for if there should
happen to be a run upon the commissioners they
might be unable to meet their engagements. He
then pointed to a tabular statement showing the
monthly returns of the Bank of Bengal from Novem-
ber, 1836, to April, 1858, showing the amount of
the circulation, the bullion in the bank, the rate of
discount, and the various fluctuations during that
period. From this he argued that it was not the
amount of gold that was in the country that affected
the rate of discount, but the circulation and
amount of reserve that was collected in the hands
of the bankers. Ile quoted from Fullerton, Mr.
Wilson, and others, to bear out his views, and said
although it would be most beneficial to India if a
good sound paper currency were established, the
plan proposed would never succeed if the Govern-
ment were to usurp the functions of the banker.
An issue department separated from a banking de-
partment would never succeed, and therefore it was
that he so strongly condemned the proposed plan.
It would, besides, be very unfair to the bankers,
for they depended a great deal on their circulation
for their profit ; and if the system proposed were
put in operation it would cripple private enterprise
and be injurious to the best interests of the country.
No other colony was treated in a similar manner,
and India ought not to be. He then proceeded to
draw a comparison between the Bank of England
and the Indian banks, and said the advantage which
the former possessed over the latter was chiefly
owing to the fact that whatever was its position it
was the growth of 150 years. He was opposed to
the Government having anything to do
in the shape
of currency, and thought they would do much bet-
ter if they were to stimulate private enterprise in-
stead of curtailing it. (Hear, hear.)
Colonel STIES complimented Mr. Newmareh on
the manner in which he had delivered his lecture,
but supported the principle of Mr. Wilson.
Mr. HYDE CLARKE maintained that Mr. New-
march had not impugned Mr. Wilson's plan, nor
proved his own position of the necessity of a central
or national bank. So far from Mr. Wilson's mea-
sures being unsupported by experience, they were
supported by the very figures adduced by Mr. New-
march as to the Bank of Bengal. So far from the
circulation, or bullion, or deposits of the Bank of
of Bengal, Bank of Bombay, of Bank of Madras,
being employed in the discount of commercial bills,
so as to influence the rate of discount in the man-
ner alleged, they were only employed in a most
trifling proportion on discounts, but wee l.ocked
up in the manner contemplated by Mr. r
Wilson s
plan in Government securities. A
lung discussion followed, during which Mr.
Wilson Was ably defended by: some, while others
were as much opposed to him. At the close a
cordial vote of thanks to the lecturer terminated the
Toceedings.

MADAME CELESTE.—This talented lady is now
delighting the good people of Portsmouth, Southsea, &c.,
by her inimitable representation of the ever " Green
Bushes," "Paris and Pleasure," and other of her favourite
characters. At the termination of this month Madame
Celeste will proceed to Liverpool, accompanied by the
Lyceum company, where arrangements have been made
for the production of the principal dramas in which she has
always held so distinguished a position in the 2pinion of
the public. Among these are " The Tale of Two Cities,"
the burlesque of " King Thrush Beard," with the brilliant
‘‘ transformation scene," which was so eminently successful
in London, and received the universal commendation
leaving
Liverpool, will go to Dublin, where she will remain until
the and of June, and where wo feel persuaded her
which
talent will ensure her the most gracious reception
our hospitable friends on the other side of the Irish Channel
can offer her.
THE DUNDEE TRADE AND TILE FRENCII TREATY.
--We (iDUOdce Advertiser) understand that Mr. Small, of
the Dundee Chamber of Commerce, has bet3reutnlidesesu:ma,samrintonss,hedoay.nto,as
Loudon by Mr. Cobden, and met that gentleman on Mon-
day, at one o'clock,, to consult with him on the subject of
theeari
.iecitsi.un
'Phisof th
is
good news
trea treaty no
ulri nhexnasl,
that Mr. Cobden, who has been susohpLiesoeltNoeedNalokitpt.t.ul.iinkinc, only
of his friends the cotton manufacturers, is i eally desirous
of understanding and promoting the interests of the impor-
tanit,luilEansu,f:Letroels_ (.T•oge6terdEN;let
Yesterday the Opera Colonnade -Hotel .formelirlOy
i 11
jaitulee' sp,a"s.t Ciliraltsr I
be se-esntr eccotn,
conducted
cJda' titilyesa' s ,p
uabnldi
cwchoimch.
HOTEL.--
Yesterday
'tlosr‘s‘Foienue
paiy, under the title of the " Opera Colonnade Company
(Limited)," was offered to public competition, at Garra-
way's, by Messrs. Bowes and Bellingham. The auctioneer
stated that the directors of the company had expended
nearly £30,000 upon the property. After a very brisk com-
petition, the lease and goodwill were knocked down for
£7,500.
THE HaltSE RAILWAY SCHEME AT BIRKENHEAD.
—The surveyor to the Birkenhead commissioners has re-
ported i n favour of the above sceme, and at the commis-
sioners meeting on Tuesday evening, hi?port and a me-
morial from some of the inhabitants objecting to the plan
on the ground that it would
.be attended with injury to
property, business,
ration. Evidence is to be t
and pedestrians, were taken into conside-
aken on the question, and a report
presented by a coninuttess to whom it has been referred.