The Sun.
London, England, 1858-02-19 00:00:00

•
- ir 11 E SUN, LONDON,
s
LINES LEASED AT FIXED RENTALS.
.4.-- rill ONEY MARKETI SHARE MARZET3—(This Day).
Shr. Paid llerimiis.
ieLeitniL Cl"thnigs dPayrices Bthuaits 'ray
I
1011101 -
...k.,ID RAILWAYS. '
l
, -
Ot/ -(Ift'WET?C.ITAL INTELLIGENCF. i 'rosin is a Pric • nabnas done .-- --- I—. _
to 0 .
f
31:m , paid.i ,LILWAX ' this day. this AN' tit. 100 Buckghamsh. FLn.&N. W. 98 - 100 98
i —......-__
St. 100 Clydesdale ie.; Cale don ... 100 - 102
me CITY, Two o'CLocK.
_____,_...........
--- !. Nottng. Bost. 25 all Col.Stour Vy.IE.U.&E.O 13 -15
12i 10,A .
mb„
1011 12i the last few days the Foreign and Colo- & Eastn. June . 5/ - 6 51 6 St. 100 &Lin. g. opa Gt.Northn 138 - 140
.
5 all 'E. Un. 11. Sh. E. Count. 4 - 4t tge
50 all Belfast & Ballymen. , 84 - 84
pia' Produce Markets have been rather firmer. St. 100 Glas, Barr, & Caldonian.
dr. 133 all Irmng. Wolvorh. 4 ; Neils. Direct.
Dr. A moderate amount cf business has been done for Stour Valley .. 72 -73
St. 100 Do. New Do
rho home consumption in most of the principal articles. 25 all Glstr.&Dn.Fr. Gt. Westn ... - ...
St, 100 Birkenhd. Lancsb. 49
Cheshire Junct
50 all Hull (SE Selby. Ir. & N.M. 110 - 111
nic Tea has slightly declined, but coffee of the better 95 all Blackburn - 9i 9;21
the description have advanced about is. per cwt., more •
,5 all Blyth k Tyne orio;inal 25 all Do. 1 Shares. Do
121 all Do..} Share. Do - •••
:_.,..
£25 (iss. at £45)... ... - ...
particularly some parcels of the new crop of Plan- 12/ all Lon.diGreenw S. Eastern. 121 - 13
St. :100 Bristol & Exeter__ 95 - 96
24 - 25
tion Ceylon. Wrst India sugar of the better st.!100 cafedonian. 961 - 973 97 4 20 all Do. Preference Do
St. 100 Lon. TH., &S. Poto &Co 97 - 99 98A
qualities has been firm, owing to the rather small St. 1.00 ,Chesteret Holyhead 38 •-• 40 38
Cork, Black. & Pass. .. - ... •- ••
10 10 Do. Bark. Sh, o
all •
50 1 all Cork and Bandon.... _ - ...
53 all
atl &N.W.
Manch.Bxton.ock & Midld. 2 - 2 23
supply. Stocks of foreign, however, being 20 1 ...
and M 3 /
rather large a slight decline may be reported in the 20 1 all Cornwall 4 - 5 43 I
St, 100 Mdld. Brad fd. idland_ 98 - 103
10 , all Do A
common qualities. Rum has been exceedingly
10 I all ' Do. B - ••• 64 54 Newmarket
BuryE.G.spc. E. Count. 4 - bp
on- firm, at advanced quotations, and cocoa has met 50 all I:llublin&BelfastJunc ••• - ...
50 all N.&Est.s p.c. iDo 56 - 58 tO 25 ' all Dun. P. &Aber. June. 8 - 9 84
a fair currency, at fully late rates. Rice remains6o all Do. 6 per ct.. Do ... - ...
but sq. 1100 East Anolian 183 - 191
50 all Do.Fixedsp.c Do . • - •.•
dull, as also saltpetre and cochineal. There is not St. 'lOO !Eastern -Counties.....63 - 64- 63/ 33 43k
au.
Op much doing in foreign and colonial wool, but the St. 1.00 rEasternUnion,A.stk. 49 - 51 50a
121025 i aailll
, St. 'lOO 'Do do. B - 35 34
St. 100 !Roystn.&llit. t.Northn 138 - 140
1170e.sti.
s&hWrsyi..;
DL.o& A. W. ..: -__ :::
el, public sales of this article are announced for the __ , _., B.
25 18h 'Do. New A ••• - ..• all iShrews.& Her T. Brassey 8 - 8t
ng. 25th instant, when about 2'2,800 bales will 25 f all East Kent - 17
12 all IS. Staffordsh.. AI, Mclean 103 - 11
Ind be cffered. for public competition, the greater St. 100 East Lancashire - ..,
as 20 all East Suffolk ....... k ••• -'" 25 iAn !Do Do, ,3- 33 portion of which is from the Cape of Good Hope.
test all Do.
10 1 - - ••• St. 100 iWilts&SomrstlGt.Westn.; 91 -931 91 2
ri9 Prices, it is generally expected, will rule a shade St.lluo ,Edinburgh&Glasgols 683 693
.................-.......n.
lc- higher than those current at the close of the last 0 all lEdinb. and Peebles ••• - ••• PREFERENCE SHARES.
t. 100 Edinb Prth &Duncle, 2SI -3) 29E;,
sales in December. For tallow there has been a 0 all Forth; ndthydeJuno. ... - ... 25 all IBly-th and Tyne 10 p.l
,get
I c.pref.(issd.at 501.)i ... -
.
Coe St. 100 ,Furness - ...
- very limited inquiry, and the market is dull. St. 100 ~13ris.&Ex.4 p.c. St.' 90 -95
tild
P.Y.O nn fh a or,-,4- .....-..4 4",-,- TT- Li 1: St. 100 iGlasgow &S. Western 94 - 96

description have advanced about Is. per cwt., more
particularly some parcels of the new crop of Plan-
tion Ceylon. West India sugar of the better
qualities has been firm, owing to the rather small
supply. Stocks of foreign, however, being
rather large a slight decline may be reported in the
common qualities. Rum has been exceedingly
firm, at advanced quotations, and cocoa has met
a fair currency, at fully late rates. Rice remains
dull, as also saltpetre and cochineal. There is not
much doing in foreign and colonial wool, but the
public sales of this article are announced for the
25th instant, when about 2'2,800 bales will
be cffered for public competition, the greater
portion of which is from the Cape of Good Hope.
Prices, it is generally expected, will rule a shade
higher than those current at the close of the last
sales i❑ December. For tallow there has been a
very limited inquiry, and the market is dull.
P. Y. C. on the spot, and for March delivery, is now
quored 535. ; April to June, 535. ; and for last
three months, 51s. 6d. per cwt.
Letters from Liverpool mention that the cotton
market yesterday closed steadily, and prices of all
descriptions advanced. The sales amounted to
7,000 bales, 1,000 of which were taken by the
speculators. The Railway Share Market manifested
a very quiet appearance and quotations were un-
altered.

all Blyth and Tyne 10 p.
c.pref. (issd.at 5010
100 'pls.& Ex. 4 p.c. St.
7 o. 4 per c. Shares
'lOO pCaledn. £lO 4i p. C.
100 IChes. & Ho. 5. p.c.
100 IDo. do. 5 por cent
all ICork&Bandonsip.e.
all 'Dun.Perth.&Aber.J.
100 E. Anglian Cls. A Sh.
100 Do. do. Cls. B 6p. c.
100 Do. do. Cls. C7p. c.
1100 Eas.Co.Ex,sp.cNo.l
100 Do. No. 2
100 Do. New 6 pr. c. St
all East Un., G. 6 p. c.
all IDo. 51., 10 per cent.
all 'Do. 10/. Debentr.Sh.
all !Do. do. 4 per cont
00 lEast Laucash.6 p.cts
all IE.&W. York. J. sths
9 lEdin. & Gl. sp. c. Sh.
100 iEd.Prth.&Dun.4p.c.
100 inumess, 5 p, c ..... '
100 'Glas. & 5.W.G.5 p.c
100 Great Northn. 5 p.c
100 Do. 5 p. c. Redeem
at 10 p. c. prem...,
,100 !Do. 4i per cent
I 60 IDo.
5 p.c., Red. at 5
p. c. prom.
1 all ,Gt.N.oiScot.lstPre
18 Gt. S di W. (Ireland)
18 ;Do. 4 per c. Pref. St.
6 ,Gt W.(B.&H.Ex.spe
100 IDo. con. red. 4i p.c.
100 Do, con. rod. 4p. c.
100 Do, irred. 4 per lent.
100 Do. 5 p. c, red. prof.
all Do. Birm. Pref. Sh
all De. ChesterBp.c.P.S
all Do. do. 5 p. c. do. •
100 Do. Birm, Gua. Stk.
all Do. Chesh, Gna. Sh,
all Do. do. do
al Do. do. do_

Glasgow & S. Western,
Great N. of Scotland
;Great Northern
IDo., A. Stock
!Do., B. Stock
IGt. Sth.&West.(lre).

94 96
9/ 10
107 - 103
93 •- 95
131 133
104 108
81i 12
61 63

102 - 10

A. 111
4t.
St. 1.1
St. 11
St. ,t(

1071 8
94

104
G2i

6 -6,

!GreatWestern.

Do. Str.V.R gua. st
Xll !Irish South-Eastern.
Lancaster & Carlisle.
41 Do., Thir.ts. ......
;Do. New Thirds
rfianeash. &Yorkehir,
6 ' In,, do F £l6 ...
Do., Wet. Riding fl'n
Do. '•outhpert.
London & Black. wal'
Lond.Bright. & S. Cs t.
ILondon & N. Waster
Do. Fifths
11 D0.,16/.311.,111&13...0
Do. Eighths
London & &Western
Landrry.&Coleraine
Lndndrry. & Ennisk.
Manch. Shef. &Lincln.
Metropolitan
Do. J. L. Ricardo's
arrangement
Midland

St.
St.
St.
St.

108 - 112
110 - 114
115 - 120
115 - 120
130 - 135

85 - 88
10 12 p
10 12 ;
95-, 96
i 4 d

96 51 i

A report has been issued by the English and
.Avstralian Copper Company, stating that since the
anevting in August last the assets have increased to
the extent of 9,0001., and a dividend of 2s. 3d. per
Shure is recommended free of income tax.
The steatncr Colombo, for India and China, will
tale out the following remittances, chiefly in ,ilvcr.
Ceylon (gold)
£3 000
Madras (gold)
Calcutta (silver)
Penang (river)
Singapore (sliver) 1,250
Rung Kor.g (silver) 77,348
20 220 Shanghai (lilt or)

6 ei
108 109
402 102

1081 8 /
1024 4

Ii Fe

i I d
99 100

119 - i2l

os '.... ...

4oi : ii

113 - 116
105 - 107

64 -- €6
loi 11

100 - 1.00;
72 -74 J

1001 i 1
724 3 21

'Do. Binning. dr Derb
. Midland G. WeFt.(Tr.
Do. !, :,hares
New Castle &Carl isle
Newpt.is berg.dalrfd
Newry dt Ennisskillor
'Newry, Warrenpoint
dg Rostrevor
.
Northn. Counties Un
North British
North Devon, Rail. di
Dock Stock
Do., A Stock .........
Do., B Stock
N. Eastern -- Berwick
Do. do. Extension
Do do. G.N.E.Purch.
Do. Leeds
Do. York
North London
N. & S. Wstn., Ilamp
stead, and City Jn
North Staffordshire
North Western
N. dr S. Wertrn. June
Oxford Worcester dz
Wolverhampton
Portsmouth
Rhymney
Scottish Central
Scf)t. N.E.Abrdn. St.
..Shropshire Union ...
;Sitingbourne &Sheer.
'South Devon
'South Eastern ..... .
Do. ,q per c. Shares
South Wales
S. Yorksh. Riv,irDun,
Do.

". .
5i -- "6
92 -- 94
86 -- 88
87 -- 89
99 -- 101
101 -- tsi
16 -- 17
to -10 A
74 -- 76
19 -- 20
91 -- 10
14 -- 15
38 140

Total X217,4ti8
Abort 20,0001. in gold was taken into th© Bank

fi : ii

13i i 1

of England yesterday.
Monetary affairs in Paris continue to present an
imaproving appearance, and the increased facilities
Afordad the commercial communitywill, it is hoped,
soon produce some revival in trade. The Bank of
Franca has made a further reduction in the mini-
Wan, via., to 4 per cent.
There was a meeting of the Newport, Abergs-
'tastily, to., Railway Company to-day, at which a
report was road showing the gross receipts of the
half-year to b 28,1401., and the net balance,
15,4181. bz. 5d., from which is to be paid the
guaranteed interest and debenture debt, leaving ,
86431. to be carried forward 1

65 - 68
-
53i - 54

IWO Lauds York. 6 pc. St.
100 Lon. &B. G. 5 pc. No. 1
100 D0.,P.,5p.c.5t.N0.2
100 Do. New Guar. 6p.e.
100 Do. do. sp. c., No. 4
100 Lon. & Cov. &
Nuneaton 5 r. ct
100 Lon. & S.W. 7 perct
late 3d Shares
all Londy.& Color. a Sit
all Londy.&Ennis. Sh
100 M., S.,&L. 6p. Cent
4a Do. do. do. £6
100 Do. do. 31 per cont.
all Marypt. Carl. 4 P.C.
all Do. 4, per cent

08i - 99

ld par
52 63
83,i —84 i
95 97

,• --' ...

14 -..
...

.60 - 165

34- - 3
-
O
o - i

• .... •ta•

---
The market for English Securities continues
buoyant, and a limited business has been transacted
at an advance of to per cent. A large pur-
shase for investment has been mark of the New
3 per Cents., which, together with the reduc-
tion iB. the Bank of France rate of discount,
kaa imparted increased firmness to the market.
Commis for money and the 4th proximo have been
974 it, and they are now 97i The New Three
Per Cen4d. have risen to 97i 98,1, and the Reduced
ni 98. Exchequer Bills are flat, and the 5007,
leasirities are marked 30s. to 355. prem. The
tondo are 1001, and India ditto, 30s. to 325.
?rm. Bank Stock is 226 to 227.

121 - 123

i -
66 -70 i

33 34
9 5 d

4. •••

Ao ".... ...

109 - 111
- 281
49 - 51
- 2i
37 - 39
75,1 -76 i

104 Do. 6.
100 31id.Consol.6p.c. St.
100 Do.Con.Br.Bir.6p.c.
1.0() Do. 42 p. c. Pref. St.
400 Do. L. &H. Pref. St.
all New., Aber., &c., pr.
5 p. c. red. 5 p.c. pm.
all Do. Perpet. 6 pr. ct.
all Norf k. D ch. 4p. c . Sh.
100 Do. sp. C. Ext. 1846
100 Do. 5i p.c. pf , 1847
1100 Do.Wv.V.sp. ~1847
1100 North British

- 139
- 104
- 95

831 84
13 15
7 5 d
9 11
38 39

:: a

... •••

Staines,Wok. &Wok.l
Stockton &
Do. do., 1854
Do. do., 1355
Stockton & Hartlepl
!Taff Vale
Do. Pref., No.
Thames Hay. D. &R.
Val; of Neath...
Waterfd. & Kilkenny,
Waterford&Limeriekl
%Vest Col
iWest End of London
and Crystal Palace ,
Do. A
'' Do, B
West London
Do. First Class
Do. Second Class
Wmbledon &Croydon

IBS -

3,411 D. o. 71. Preference.,

00 NT. E. Borw. 4p. c. Prf.
82 Do. do. do

98 100
i— i d

Ia
Foreign Securities a rather limited business
been transacted, but prices are steady.
Turkish 6 per. Cents. are 102 i to 103, and the 4
)4' Cents., 1044 1. Portuguese 3 per Cents. have
Iveacb-d to 46 ; Russian 44 per Cents., 99,f ; and
apart 5 per Cents. to 103. Spanish 5 per Cents
are 444 ; ditto Deferred, 26k ; Mexican 3 per
Cents., 20i ; Peruvian 4i per Cents., 83 ; ditto
3 per Cents., 51i Venezuela 41 per Cents., 34i ;
Ltd Dutch 24 per Cents., 66.
Tt.e following are the nominsl prices of Foreign
StoLks:—Gren.da Deferred Bonds, 51- 6 ; Mexican,
104 ; 4i per Cents., 82i 83i ; ditto 3
per Cents., 564 574 ; Russian 5 per Cents., 111
113; ditto 4i per Cents., 99 101; Spanish 3 per
441 454 ; ditto New Deferred, 26i-
limas. D. 11.'11, Soo, and Co., gi:ire the follow-
es the prices of American Securities :

13 ID°. Leeds 6 pe. No.l
_9 ID°. do.Qrs., 1843...

100 - 103

10 IDo. York H.& S. Pur.
all (North Staffordshire
1100 Ox., Wor. & Wolv. 6
1 p.c., Ist guar.
:100 Do. 6p. c. 2d guar
100 Do. do. Debeatr. St
all Scot. Cent. New Pref
1100 ISc.N. E. AWr.g. 6p. c
100 Do. do. 7 p.c. pf. St '
1100 Do. d 0.3 p.c. pf. St
all South Devon

-
- 23

120 - 122
107 - 109
1 97 - 99

8 - 9
- 3i
6j - 61

119 -- 121
103 -- 112
71 -- 73
10k -10 i,

all Do. fixed 4i pr cent.
all S. Eastern (Reading
1
Ann.) of £1 Os. 6d.
100 Do. 44 per cent
100 Do. Fixed 4i p.c. Sh

[!igfCsl
1.1.00 102

'lOO Do. Now 4l pr. cent
1100 S. Wales Gua. 4 p. c.

100 (Do. do. 4i p. c
all tS.Yorksh.4p.c.Guar
all stock. &Dar., sp. c
1 19 ,Do, do. do.

in io

100 'lWAterfd&Kilk. 6 pc.

cOVEINMENT SECURITIES.
Redeemae.
rialteil States 6 per Cents. 1867-1868... bl Per
101 1031.
"lilted Stages Ow Cent. Bonds 1868...101 103
sTATE SECURITIES.
4Leatne
5 per Cent
... 78 6 per Cent. Bonds 1863-1872... 91 93
Maryland 5 per Cent. (Sterling Bonds)... ... 88 90
kassachuseits 5 per Cont. (Sterl. Bonds). ...101 103
hississippi 6 per Cent. Pl. Bk.
tr. Bonds lB4l-1871... 40 42
glonilippi 5 per Cent. Union Bk Bonds
... 20 2
penneylvania 5 per Cent. Stock
,:1211sylvania 5 par Cent. Bonds 1877... 81i 8215
4.nnessee 6 per Cent. Bonds
6
per Cent. Bonds 1886... 83 85
Virginia 5 per Cent. (Sterling Bonds) 1888... 82 84
LOANS OF CITIES.
...110lion 4i per Cent. Bonds 1883... 88 90
s_mantreal 6 per Cent. Bonds 1856-1865...
Orleans 6 per Cent. Stook 1883...

AILROAD BONDS.
Illinois Central 7 per Cent. let Mortgage,
not (;onvertible 1875... 86 67
Illinois Central 6 per Cent 1875... 85 87
Illinois Central 7 per Cent. Freeland
Bonds
1860... 85 87
Oimtral (Shares), $3O paid ... 6 d 4 d
*is higun Central Bp. Cent., Convert 1860...
Do. do. do. 1869... 90 92
rim York Central 7p. Cent., Convert 1864... 92 94
In the Railway Share Market this morning the
transactions have been unimportant, and the varia-
tions in prices have not exceeded about Ito per
cost. A few of the leading lines were dealt in.
Rave/11 Counties, Brighton, Noah Western, Mid-
land, Scottish, North Eastern, advanced 55., and
Norfolk, 10s. ; Caledonians, and Lancashire and
'Yorkshire declined 5e., and North-Eastern, Leeds,
and Stockton and Darlington, 10s. The Foreign
and Colonial Linea are very inactive, East India
key* improved 10s. ; (heat Indian Peninsula, ss. ;
and Lai.tern Bengali realise 1 prem. ; Grand
Trunk of Canada and Great Western of Canada are
at previous rates.

In Mines, Banks, and Miscellaneous Shares
aoarcaly any business was done, Uaion of Ansi ralia
improTed about Ms., and EAstern Steam Naviga-
tion, 50. ; Canada Laud Shares declined about 5
per cent.

BRITISH FUNDS.—CLOSING PRICES —THIS DAY.
(From the Official Lust:)
Business done.
'tank Rock 225i 7
rtsdnoed ilutiltl.e
3. per t•f.. 1.% SOU. ißr W.)tieb
.- per Cent. Annuities .. 971 8A ,
I )4dia Stock
India Bondi £lOOO .......... ........„
qt.), under Moot, 2, 31
OJLSOIa tkeeLnuit
-<•• ‘voin, 24d
£lOOO ...........
. ........

P
•• ..... .
Exchequer Ronde. i4sii ..
b'.i Per *Cent 3-5 30
37
P
1,,,4 li MO, 1850 ............ .............. lOO
k• PRICES OF FOREIGN FUNDS—THIS DAY.
Braunen i, per Cent. ...............
hyenas Ayres Bonds, 6 per Cont. 38921 I
Ditto Deferred, 3 per Cent. . .... lO
arena& New Active, 21 per Cent...,,,,,, 24 19
Ditto Deferred... 6l
Ileziean 3 per Cent...
Date Account 2O/
Peruvian Bonds, 4t per Cont
Ditto Account ....
Ditto 3 per Cent s7i
11°Itugliese Bonds, b' per Cent, Con. 1841
Ditto 1803, „per Cent...
Russia 6 Bonds, 1522, t St., 6 per Cent ll2l
8 Ditto, 4i per Cent. O9/
- "--'ll 0.,6 6 per &Ant.
DAto &ecomat,
):tto New Deferred, 3 per Cent.
II ),tto Account 264
'X Ark
.141 '-ionds, 6 per cent
Ditto Account
'Witt° Guaranteed, 4 per Cent.
1
,id Ditto Account , 104,1 If.mezneie. Bonds ' 3
,;Ditto Account, 44 per Cent
34
„:: Let (h, ,o,ove payab!e in London.
Fr ,ue n itentes',"4; per Cent.
Ditto _ll 3 per Cent.
69f. 75c.
-tmkfold La, iti.i,t, z. .
per C0n..., 12 Gunners 66
il tEE O'ClLti a.
co/Isola mane . ... 1 t
97 $ Console, account glaeic-11-4. ........ ..' ~ V 73 i

THE SHY, LONDON, FRIDAY EVENING, FEBRUARY 19, 1858

IMPERIAL PARLIAMENT.

HOUSE OF LORDS.—(YEsrERDA.Y.)
The LORD CHANCELLOR took his seat at 5 o'clock.

NEW PEER.
The Earl of FIFE took the oaths and his seat as a
peer of the United Kingdom.
The Earl of HARDWICKE presented a petition from
Manchester, praying for a change in the Government of
India.

Earl DIXIE presented a petition from Woodchester,
in the county of Gloucester, praying for i❑creased
facilities for the extension of the Christian religion in
India.

THE INDIAN LOAN.
Lord MONTEAGLE said that as a bill for raising a
loan for Indian purposes was about to be introduced,
he thought it would be desirable that certain returns
connected with the expenditure of a number of the
Indian Presidencies for the last ten years should ba in.
eluded.
The returns were ordered.
Earl GREY presented a petition from Newcastle-
upon-Tyne, praying that in any now arrangement in
Indian affairs, no encouragement might be given to
idolatry.
The Earl of CARNARVON rose to move for a return
of the establishment of militia regiments now embodied,
and their actual strength on the Ist Jan. The noble earl
said he found by a return lately printed by order of
the House of Commons that 150,0001. was asked for the
embod •d militia. Estimating the cost at 30/. per man,
that sum would only secure the services of 5,000 men.
Now considering that we were involved in a very serious
war, he thought that number would be totally insuffi-
cient to meet the emergency.
Lord PANMURE said there could be no objection to
the returns asked for. In reply to the noble lord, he said
the Government had fully considered the estimates, and
had in their opinion proposed a sufficient land force,
namely, 130,0001. for the present year. He had only
taken a vote of 150,000/. for the embodied militia,
because recruits were flocking in, and he was encouraged
in the hope that the sum would secure the services of
10,000 men, which would be amply sufficient for the
present year. He was happy to inform the house that
recruiting was going on most favourably. (Hear, bear.)
Since the let of January no less than 8,500 recruits
had entered the army, and during the last week
the number of recruits that had enlisted amounted to
2,059. The state of affairs in India were now so favour-
able that i❑ the opinion of eminent military authorities
there would be no necessity for sending out further
reinforcements to India. But when the hot and rainy
season commenced there would be great mortality which
would have to be met. It was not yet determined
whether the troops that would in that event
have to be sent month by month, that would of
course depend on the emergency. To obviate the
danger to the troops travelling in the unhealthy season,
it was proposed that they should be sent to the island of
C.,ylon, and there await orders to proceed, which they
would do in perfect health.
The Earl of HARD WICKE thought it the duty of
the Government to be prepared for any emergency by
having at home a sufficient number of trained men for
any contingency.
Earl GREY thought it highly incorrect to discuss
important questions in an incidental manner. He
thought it absolutely necessary that a second battalion of
every regiment in India ought to be kept in this country,
from which it could be recruited. That was the only way
in which the losses could be met.
After a few words from the Earl of ELLEN-
BOROUGH, the motion was agreed to.
BANKRUPTCY AND INSOLVENCY REFORM.

Lord BROUGHAM said, he rose to lay on the table
a Bill for amending the distribution of the Courts of
Bankruptcy and Insolvency, and for effecting great and
important improvements in the law of bankruptcy and
insolvency. The bill that stood on the paper in his
name for a second reading to-morrow was a partial mea-
sure, relating to imprisonment for debt, but which, if
no further improvement were effected in that respect,
would be a great improvement of the lacy. But the hi 1
the nature of which he was now about to state went to
the root of the evil as it existed at the present time, and
which had been oolong and generally admitted. During
the last autumn a great Congress was held at Birming-
ham of the Association for Promoting Social Reform and
Social Peegress, in which there were different depart.
ments, at the head of one of which was his noble friend
Lord John Russell. The department over which his
noble friend so ably and usefully presided was that to
which were referred matters connected wit% the juris-
prudence of the country, to which his noble friend had
before given great attention, and it was clear from the
manner in which he performed the duties of his office
that he had not thrown away his time in bestowing that
attention upon it, but that he had great knowledge of
the subject, and entertained sound and judicious views
in reference to it. It was on the suggestion of his noble
friend that a committee was appointed, after a length-
ened discussion, for the purpose of examining the whole
subject of the bankruptcy and ircolveney laws, for there
was no one thing more manifest throughout that discus-
sion than the universal and deep interest which the
state of those laws excited among the whole mercan-
tile community. That there was nothing which so
much occupied their attention as the state of these
lase was evident from the various plans that were
proposed by various interests,—some of them in the in-
terest of the debtor, others in that of the creditor, and
others, again, iu that of the trading part of the commu-
nity. The variety and in some respects the opposition
of those proposals were as remarkable as the interest
whinh all of them excited among their several supporters.
He (Lord Brougham) would take leave to repeat what
he had said on a former occasion in reference to the great
mercantile law conference which was held about 16
months ago, that when they saw the whole mercantile
community coming before them with, complaints of
grievance under which they were suffering, and of the
state of the law which led to that suffering, though there
might he great contrariety of opinion among themselves
which rendered them le,s deserving of being implicitly
relied on, yet, if they were agreed as to the existence of
the subs' antial nature of the grievance, their authority
was supreme and without appeal, because they were the
parties for whom and to protect whose interests, the law
existed. Therefore, it was that he urged the universality
of the complaints of the present state of the bankrupt
and insolvent laws upon their lordships' attention as
demonstrating that there wee ground for those complaints,
although their lordships might notagree with the complain-
ants in adopting the remedies which they thought neces-
sary. As president of the Mercantile Law Conference
to which he had alluded he turned his attention to this
subject, which, however, was one that he had more than
once before brought under their lordehips' notice, and
for which he had sought to apply a remedy. But since
the discussion which took place at that conference he
had certainly made material changes in the measures
which tie propounded in 1349 and 1852, and the bill be
was about to lay on the table was the result of that fur-
ther consideration and further experience of the system.
He would fain hope, when the evils complained of and
the remedies he sought to apply to them were taken into
consideration, that this measure would be held by their
lordships as likely to be effectual in affording the requisite
protection. The first great evil complained of was the
expense of the Court of Bankruptcy. His noble and
learned friend (the Lord Chancellor) knew that the
ground of that complaint was the large amount of fees
exacted from the suitors, to their extreme vexation. For
example, those suitors considered it an intolerable griev-
ance that in this year cf 1858 they were compelled to
pay large sums of money as compensation to officers who
had ceased to exist as officers of the court for a quarter of
a century. Thry were paying no less than from 24,000/.
to 25,000/ a-year to theme most learned and respectable
gentlemen whose official existence he was the means of
terminating by the Act of 1831 and 1832, when the new
system was substituted for the Septuagint, as the 70
commissioners then in existence were called. There
were other expenses which came out of the pockets of
the creditors, c nastituting in the aggregate a great
ground of compleiat. Besides, there was another seri-
ous grievance. The Court of Bankruptcy in London
exercised jurisdiction over upwards of 3,000,000 of her
Majesty's subjects ; but there were 29 counties in
England in which there was no Court of Bankruptcy at
all, and of those 29 counties some were far distant from
the Central Court, and yet the inhabitants of them must
come there to transact their business. Of those 29
important counties, omitting Middlesex, Surrey, Kent,
Essex, &co in the immediate neighbourhood of the me-
tropolis, there were seven countries with a population of
more than 1 800,000, besides four other counties and
parts of Wiltshire and Dursetebire, containing a total
population of more than 2,000,000, the inhabitants of
which had to conduct their bankruptcy business in Lon.
don, there being no local tribunal for that purpose. This
was the case now after the principle of local bankruptcy
tribunals had been adopted by the act of his noble and
learned friend Lord Lyndhurst. Of the places the inha-
bitants of which had to come to London to transact their
bankruptcy affairs ho would mention four important
towns—Norwich, distant 103 miles ; Great Yarmouth,
124 miles ; Seutbampton, 77 miles ; and Brighton, 58
miles. A great complaint was now made of the inequality
of the business in the district courts. In some of the
bankruptcy courts the judges were overworked, while
in other courts the judges were underworked. The
learned judge of the County Court at Liverpool
had far more work than any man ought to be
asked to de, but the two bankruptcy commissionters of
Liverpool were, as he was informed, exceedingly under
worked, and had much time upon their hauls, which
could be applied most usefully to the public service. He
should propose in that case to make the two bankruptcy
commissioners and the County Court judge of Liverpool
form one court, and to transfer to the County Court, of
which they should be judges, the bankruptcy jurisdiction
now possessed by two of them alone. He also proposed
to apply th e principle generally, and to localesewas
bank-
ruptcy just as insolvency was now localised.
That
ed to
the main foundation of the bill which h""lPtolld be
introduce—that the bankruptcy jurisdictiohnere
with the
transferred to the County Courts, to
whole staff of officials now engaged in tshgt:3B:ttrict bank-
ruptcy courts. The bill also gave parties
the central court
before the district judge or to apply
in London as might be most convenient or expedient,
which would depend
whether most of the creditors
resided in London or
eins:the nei,hbourhood of the bank-
rupt's place of buro The hill alto gave the hank-
ruptcy commissioners power to imprison for debts
ineurried by fraud or misconduct. It was most unfortu-
nate tj they had d pooses,eo: that pwcr, as
the inso!vone,, ueuintisoioueru had long done. In the
hands of the latter it had been found to be ineffectual as
a security to the public, as far as that security was to be
obtained by puniebruent of the wrong-doing debtor. He
had already stated to their lordehips the remarkable
facts that not above one-eleventh of those who were now
imprisoned for debt, and who took the benefit of the

Insolvent Act, ought ever to have been in prison at all,
and that in seven-tenths of the cases in the Insolvency
Court there was no inquiry and no opposition. In many
instances' no doubt, the absence of opposition arose
from the disiecliusvion of the creditor who had lost his
debt to incur more expense and trouble in performing a
public duty. If the bill relating to insolvency which he
had introduced should be passed into law the creditor
who could now only arrest his debtor, would have
the power of summoning him, and of suddenly laying
hold of any property he might possess, just
as the Bankruptcy Conrt could do at present.
He bad added to the bill abolishing the distinction
which now existed between the trader and the non-
trader a clause to the effect that an officer, to be called
an official examiner, should be appointed, whose duty it
would be to examine en behalf of the creditor—in the
event of the latter not choosing to undertake the task of
examination—and to sift and scrutinise the case of
every trader or non-trader who should be brought before
the Court. One of the great defects of our laws—one,
however, which had in a great degree, he was happy to
say, been removed—was that no adequate punishment
had been awarded in those instances in which breaches
of trust had been committed. The experience of his noble
friend the Lord Chief Justice would, he felt assured, tend
to confirm that statement. The manner, too, in which
the commissioners acted in the granting of the various
classes of certificates was in itself extremely inconsis-
tent, and he should therefore propose that the power
should be vested in the commissioners of either abso-
lutely granting or refusing a certificate, giving them in
the latter case authority to punish by imprisonment. It
might be objected to that proposal that the punishment
of imprisonment ought not to be inflicted without trial
by jury, but his answer to that objection was that the
insolvency commissieners had always exercised that
power which he proposed to confer upon the judges in
bankruptcy, and to a still greater extent. There were
also some provisions in the bill in reference to the remu-
neration of official assignees, bet ween the maximum and
minimum amount of whose incomes a very considerable
difference existed, that amount being in some instances
5,0001. or 6,0001., while in others it was considerably
less. Those provisions would, he trusted, be produc-
tive of a considerable improvement in the case of that
class of officers. There were many persons engaged in
trade who were of opinion that a measure of a somewhat
wider scope than that which he had submitted to
the house should le introduced. Now, so far from
proposing his bill as a substitute for any more liberal
scheme, he should ask their lordships to regard it sim-
ply as a natural introduction to a still greater reform.
There was a material difference between the measure
which he was now introducing and that which he had
in a former session laid before their lordships, and he
hoped it would be found to embody the experience of
late years, and better adapted in many ways to effect
the object in view. It was sometimes said in the City
to men engaged in trade " Your name is on too many
bills," and he was afraid that the same remark would
apply to hire. kek. laugh.) In extenuation of the offence,
however, and in or.4r that his bills might not be die-
honoured, he was bound to add that be was pursuing on
the present occasion the same course which he had
taken on another important question, that relating to
the patent law, He had introduced a bill for the
amendment of the law on this subject when at the same
time it happened to he under the consideration of the
Government. The Ministerial measure was afterwards
introduced, aed both were referred to a select commit-
tee, which examined them iu detail, and formed out of
them a bill which effected a great improvement in the
patent law, and was still in force. Folio aieg that pre-
cedent, he was new introducing the present bill in the
expectation that his noble and learned friend on the

woo'sack would shortly propound another, and then
both would be fairly and impartially considered by a
select committee, and that out of the two measures one
might be framed deserving the sanction of the house
and of the Legislature. He hoped his noble and
learned fribnd would give his careful attention to this
subject, in which ca•e he was sure that the cesomercial
arid trading interests of the country, as well as the
character and the morals of the country. weal? profit
ereatly by the result of his labours. He would now
conclude by laying the bill on the table.
The LORD CHANCELLOR said, it was always
a part of the courtesy of that house to allow a bill to be
laid on the table and be read a first time without oppo-
sitior. That was a most useful practice, but his noble
and learned friend could hardly expect any discussion
to arise with regard to complicated details only now
announced for the first time, and of which none of
their lordships had any previous knowledge, nor must
he be thought guilty of discourtesy if he now made only
the most cursory allusion to his noble and learn ed
friend's observations. In many of the proposals now
submitted to their lordships he entirely concurred. In
the first place, he believed it absolute:y necessary to
provide some different mode of rsanune:ating the official
assignees. At the same time, he thought his noble and
learned friend rather overstated the cat,e when he spoke
of thesegentlemen sometimes making as much as 5,0001.
or 6,00 C/. a-year. The official assignee in the British
Bank case certainly did daring the past year make more
6,0001• of clear income. On the other land, he might
mention that soon after he took the Great Seal he was
beset with applications from official assignees, who
complained that they actually made hardly enough to
pay the expenses of their office. That was a very
grievous state of things, and in communication with
soma of these gentlemen he proposed a scheme, appa-
'gently very similar to that of his noble an learned friend
—namely, that there should be always a maximum sum
beyond which their remuneration should not rise, and a
minimum sum, below which it should not fall. He agreed
ale° very much in the remarks of his noble and learned
friend as to the different classes of certificates given in
bankruptcy. It certainly was the case that, whereas
some commissioners made it a rule to give first-class
certificates unless there had been disreputable conduct
on the part of the bankrupts, others, on the contrary,
always awarded certificates of the lowest class unless some-
thing very meritorious appeared in the conduct of the bank-
rupts. Considering the number of these commissioners
throughout the country, it was, perhaps, impossible but
that there should be discrepancies in their decisions ;
still, as things were, the obtaining of a first or third-
claas certificate was quite a chance, depending entirely
upon the commissioner before whom a bankrupt was
obliged to go. Any change of system which removed
these inconsistencies would be a great improvement.
His seble and learned friend, if he collected what had
fallen from him aright, thought the district bankruptcy
courts should be abolished, and their jurisdiction in the
country given to the County Court judges. Now,
there appeared to him to he grave difficulties
in the way of such a change. Four or five years ago
this matter was considered with the greatest attention
by Mr. Glyn, Mr. Walpole, and others, both lawyers and
non-lawyers, who came to the conclusion that, hawever
useful the county court judges might be, and however
meritorious in the discharge of their duties, they were
eminently ill calculated for the administrative business in
bankruptcy. In insolvency cases there was no rush busi-
ness, but not so in bankruptcy. As his noble and learned
friend had lately correctly stated, the charge of proceed-
ings in bankruptcy was from 33 to 36 per cent. upon the
assets realised—an enormous percentage, and one which
it must be the great of jsct of legislation to reduce. Stiff,
however, upwards of 60 per cent. remained to be distri-
buted. Now, an ambulatory judge, who came to a town
once a month or so for the tr nsaction of business, would
experience great difficulty in discloirging that portion of
his duties which would consist in investing, securing,
and ultimately distributing the sums of money which
were from time to time realised. He would not say that
the proposal of his noble and learned friend on this sub-
ject did not point to the best resource which was open to
them; but it was not one to which he thought they could
look with anything like satisfaction ; and he confessed
that, along with the commissioners of 1853, he considered
it one which would entail the greatest possible difficulty.
There would be delay, there would be the chance of hav-
ing assets purloined, it would be impossible to keep them
together as you could wish, and there would not be that
stability and fixity of place which was essential to the
administration of a bankrupt estate. His noble and
learned friend suggested that the bankruptcy judges
should have in certain cases the power of imprisoning.
Such a power might perhaps be safely intrusted to the
judges who sat in London, where a vigilant public eye
watched over their proceedings. Even there it was a
matter of great difficulty to allow a number ofjudges not
acting in common to imprison those. brought before them
at their discretion for any considerable time, more par-
ticularly when the point to be determined was whether
the persons in question had or had not acted honestly and
fairly as traders. The opinions which one man formed on
such a subject differed so widely from those which would
be formed by another man that he should look with great
apprehension to the exercise of such a power. [Lord
Brougham—" The insolvent judges are intrusted with
it."] Yes ; but if such a provision were coupled with
an extension of jurisdiction all over the kingdom, if all
the County Court judges were empowered to imprison
e
at their discretion for any considerable length e( m
persons whom they might consider to have
acted
affairs,with-
out
clu
he e caution
thought or
seriousin improperly p
dangererl yin thew ocuolndduc t o
arise,f
He
their
oboeoliseivdeedratthioant theof btilhlowlßlicoharhd ofladoans g
completelyunder th e
been
so w
Trade
prepared, and would receive the final approval of her
Majesty's Government in the course of a few days, and
.6 thatln theor the
m e
a o t otherim eHhoeu
worldse of Plg
ita
withoutmwoonultdbe laid
the subject his very best attention, but his noble and
dbeelfaoyr
learned friend (Lord Brougham) must not take it for
granted that because his name was on the back of many
bills the (Lord Chancellor) was prepared to endorse or
accept them. (A laugh.) The bills of his noble and
learned friend might be very good and useful measures,
and is Si) he would be happy to give them his cordial
support ; but all he could promise was that he would
give careful attention to his noble friend's propoei-
ftiioienoscrs He i wouldaods u
tehgee s to
tthheart
relating bill nol l e a
turd t
ee learned
e
subject which was already before thei;lordships, should',
stand for a second reading on the same da
Earl POW IS wished to remind the neje, and learned
lords who were dealing
with
great inconvenience occasioned tuts i
the q
country
o fromf t
the distance which creditors and other persons con-
cerned in bankruptcy proceedings had frequently to
travel from their own residences to the district
courts. The inhabitants of the large county of Salop,
Con
population of 250,000, were compelled to
gotaining a
to Birmingham in cases of bankruptcy, and the
larger portion of the inhabitants c f Nerds Vs'ales were
obliged to resort to the district courts of Liverpool and
Chester. It was, therefore, in many cases not worth the
while of small tradesmen to incur the expenses of the
journey and the other inconveniences consequent upon
the prosecution of cases of bankruptcy. The same incon-
venience was experienced by solicitors and other persons
who might be connected with cases of this nature.
Bankrupts were sensible of their advantage in this