The Sun.
London, England, 1869-05-31 00:00:00

PARLIAMENTARY BUSINESS.

To-night will most likely witness the closing scene of
;he Irish Church drama in the House of Commons. The
hill which was introduced by Mr. Gladstone on March 1
laving passed the critical second reading, and come out
safe from the dangerous shoals. of committee, stands
:o-night for its final touch—the third reading. This stage,
eowever, will not he got over without some more talk about
' spoliation " and " robbery." Sir Frederick Heygate
las given notice that he intends to move " That, as the
fill for the disestablishment and disendowment of the
[rish Church will, if passed into law, cause a fundamental
;hinge in the constitution of Ireland, it ought, in justice
so all parties concerned, to be accompanied by a declara-
tion of the principle, at least, of any other so-called
remedial measures in contemplation by the Government."
Ile effect of this resolution is easily foreseen. The futile
attempts lately made by several peers to draw from the
Government their views on the land question are now to
oe tried in the House of Commons, but it is scarcely
ikely that the reticence observed by Lord Granville will
be abused by Mr. Gladstone. After Sir Frederick's
motion has ended in smoke, Mr. Holt will move a direct
negative to the bill, by proposing that it be read a second
time this day three months. As a heavy " whip "
bas been going on during the last few days on both
sides of the House, a large division is expected,
which will probably be taken to night. Eighteen addi-
tional "orders" are entered on the paper for considera-
tion, among which stands the Habitual Criminals Bill, for
second reading, and the Universities Tests Bill for com-
mittee. Mr. Edward Egerton will want to know what is
the present position of the negotiations relative to the
Commercial Treaty with Austria ; Mr. Edward Verner
tntends to ask the First Lord of the Treasury how the
government intend, in the event of the passing of the
Irish Church Bill, to meet the difficulty that will arise
under the provisions of the Poor Relief, the Prisons,
s,nd other Acts, which direct the appointment of chaplains
of the Established Church ; and Mr. Glyn will move for
e, new writ for StaffOrd.
To-morrow evening an exciting debate will probably be
raised,by Mr. Seeley, who intends to call attention to the
report of the select committee on the American mail con-
tracts, and to move several resolutions on the subject. The
Libel Bill is to be re-committed ; the adjourned debate on
the second reading of the Party Processions (Ireland) Bill
is to be continued ; and the Beerhouses Bill, as amended,
will be considered.

Wednesday is likely to keep up its character as an
important day. In the first place, Mr. Locke King will
move the second reading of his Real Estate Intestacy
Bill, which Mr. Beresford-Hope will do his best to shelve.
Next in order comes the Capital Punishment Abolition
Bill,the opposition to this measure beingledby Mr. Lewis,
the member for Devonport. The Burials Regulation Bill
is also down for second reading, but it will not be allowed
to pass this stage without an effort on the part of Mr.
Raikes to throw the bill over altogether.
The Bankruptcy Bill comes on for consideration on
Thursday evening. On the motion to go into committee,
Mr. Hibbert will move that the jurisdiction conferred upon
the judges of the county courts in Admiralty and Bank-
ruptcy should be accompanied by an increase of the
salary of those judges upon wham such jurisdiction
is conferred. The Imprisonment for Debt Bill is
also down for the same stage, and these two measures of
the Attorney-General are likely to occupy the committee
several hours. Following up the bills relating to debtor
and creditor, it may be mentioned that the Insolvent
Debtors and Bankruptcy Repeal Bill is entered for second
reading. Mr. Russell Gurney intends to ask the Secretary
of State for the Home Department whether it is the
intention of the Government to introduce a bill to render
compulsory the payment of clerks to magistrates by
salary. _

Mr. Gregory's motion—" That it is expedient that
museums and galleries supported by the State in England
and Ireland should be opened to the public after the hour
of Divine Service"—is to be discussed on Friday. Mr.
William Allen will move an amendment to the effect that
such places ought to be opened on week-day evenings.
Sir John Hay will want to know something about
the Flying Squadron ; and Mr. Eastwick has given
notice that he will call attention to the state of affairs in
Asia.

TRADE AND VNANCE

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The debate on the Customs alrd Inland Revenue Duties
Bill presents many features of interest. It is very evi-
dent that a great advantage will accrue from the pro-
posed plan of collecting the taxes, by turning the assessed
taxes into license duties, en account of the simplifi-
cation in the national accounts. The Chancellor
of the Excbequer, however, has certainly under-
estimated the effect of his measure upon the money
market, and we fear that serious inconvenience may
result at times from the change. We are not, however,
anxious to see any attempt to " cocker up" the Bank of
England, although, as that institution was the creation
of, a national necessity, and has even adminis-
tered to national wants, it holds very peculiar relations
with the Government. At the same time, the fact of its
eolding the national balances, and having the monopoly
sf the metropolitan note issue, goes far to extinguish the
iebt of gratitude that the nation owes it. We believe,.
therefore, that Mr. Lowe's independence of the Bank of
England is not altogether wrong. It is desirable, however,
that the reserve of the Bank should be liable to as little
fluctuation as possible, and such changes should
be confined to the requirements of trade. • We want
e commercial barometer that shall tell us, week by week,
the changes in the commercial atmosphere, and afford us
some means of prognosticating the immediate future. At
present we have some suck means of determining the
course of the money market in the admirable accounts
published by the Bank, and it is because Mr. Lowe's bill
will interfere with their efficiency that we principally quarrel
with his measure. According to the gures laid upon the table
of the House of Commons by himself, the greatest diminu-
tion of the public balance will take place at the close
)f the year, being the time of the panic par
excellence. This is precisely the period when the import
trade has attained its greatest dimensions. Our
impOrts mainly consist of vegetable products,
which are of course dependent upon season,
and, in the natural order of things, they arrive here
towards the close of the year. The Board of Trade
returns will at any time establish this fact, which happens
invariably to be the case. By the same argument, the
demands of commerce upon the money market
are more restricted during the opening months
of the year, and yet, by a singular fatality, this
happens at a time when the bank would probably have a
larger sum of money at its disposal.- The question there-
Fore arises whether such a state of affairs would not lead
to an inflation of trade during the earlier portion of the
year, to the great detriment of importers towards the
close. Such would evidently be the tendency of affairs.
There is, however, one saving clause to be considered.
However extensive the changes might be that
would be brought about by the new arrange-
ments, they would at least be constant and
would be readily calculated. We should be as fully
prepared for a gradual diminution of the Government
balance throughout the year as we should be for a
sudden augmentation at the period of the collection of
the revenue. Mr. Lowe, however, is not altogether
unprepared with a scheme that may in some measure
obviate the apprehended difficulties so far as the
money market is concerned. For instance, he proposes
to borrow on Ways and Means from the National Debt
Commissioners, and he will probably embody this idea in
the next money bill. Again, there is a large sum paid for
terminable annuities, which is spread over the whole year.
'By making this payable at the two heaviest quarters, the
equilibrium may be to some extent restored. Mr. Lowe
has not pledged himself to either of these measures, but
the latter would bring about a further simplification of
the national accounts, and we should, therefore, be glad to
see it adopted.
As we recently pointed out would be the case, the wheat
trade is now wholly guided by the course of the weather,
and prices are immediately influenced by the prospects
and condition of the plant. The weather, therefore,
having been very unfavourable for the development of
the wheat plant, owing to the great abundance of
wet and the cold frosty nights experienced,
trade has ruled firm, and prices have advanced
fully is. per quarter. Although there is no
room for serious fear as to the ultimate safety of the
crops, it is evident that we cannot look for so early or so
large a yield as last year's. We incline to the belief that
prices have now seen their lowest point, and farmers will
do well to resist further concessions until F 3 !rri e very
decided improvement takes place in the condition of the
plant.

The Duke of Norfolk says he is " not able" to grant
the request conveyed in a petition from the Methodists of a
Surrey village, who teed:fly nslied for a piece of waste land
upon which to erect a dial-A.
Pope Pins the Ninth, feeling profoundly tL•e
wide-spread evils and crushing burdens imposed upon.
the nations of Christendom by their gigr.ntic armaments,
intends, it is annotneed, to lay before tho approaching
cgcumenical Council at Bonn) a proposal for the general
adoption of International Arbitration in lieu of war, and
for the establishment, by a High Court, of Nations,cf
finite code of international Law, instead of the vague and
unconnected maxims, frcm Vattel and other private sources,
which at present constitute the only approximation to the
urgently needed influence of a regulating system of rules
and precedents to be univerzally recognised
M(-'--114`149rity