The Sun.
London, England, 1857-12-04 00:00:00

IMPERIAL PARLIAMENT.

HOUSE OF LORDS—(YESTERDAY.)
Their lordships resumed at five o'clock.
NEW PEER.
Lord MACAULAY took the oaths and his seat on being
created a baron of the United Kingdom. The noble lord
was introduced by Lord Campbell and Lord Belper.
There was rather a full attendance of Peers on the
Opposition benches. Amongst those present we noticed
the Earl of Derby, the Earl of Eglinton, the Earl of
Hardwick, the Earl Malmesbury, and Lord Redesdale.
On the Treasury benches were Earl Granville, Earl
Clarendon, the Marquis of Lansdown e, and other sup•
porters of the Government.
THE ADDRESS.

The LORD CHANCELLOR having read her Majesty's
Speech, as followa :
" MY LORDS AND GENTLEMEN,
" Circumstances have recently arisen, connected
with the commercial interests of the country, which
have induced me to call Parliament together before
the ukual time.

The failure of certain Joint-Stock Banks, and
of some mercantile firms produced such an extent
of distrust as led me to authorize my Ministers to
recommend to the Directors of the Bank of Eng-
land the adoption of a course of proceeding which
appeared necessary for allaying the prevalent alarm.
As that course has involved a departure
from the exi-ting Law, a Bill for indemni-
fying those who advised and those who adopted it
will ba submitted for your consideration. _ _

" I have observed, with great regret, that the
disturbed stat Hof commercial transactions in general
has occasioned a diminution of employment in the
manufacturing districts, which I fear cannot fail
to be attended with much local distress ; I trust,
however, that this evil may not be of long duration ;
and the abundant harvest with which it has gra-
ciously pleased Divine Providence to bless this
land, will, I hope, in some degree mitigate the suf-
erings which this state of things must unavoidably
produce.
" While I deeply deplore the severe suffering to
which many of my subjects in India have been ex-
posed, and while I grieve for the extensive bereave-
ments and sorrow which it has caused, I have
derived the greatest satisfaction from the distin-
guished successes which have attended the
heroic exertions of the comparatively small forces
which have been cppo3ed to greatly superior
numbers, without the ai I of the powerful reinforce-
ments despatched from this country to their assist-
ance. The arrival of those reinforcements will, I
trust, speedily compete the suppression of this
widely-spread revolt.
" The gallantry of the troopsemployed against the
mutineers, their courage in action, their endurance
under privation, fatigue, and the effects of climate ;
the high spirit and self-devotion of the officers ; the
ability, skill, and persevering energy of the com-
manders, have excited my warmest admiration ;
and I have observed with equal gratification that
many civilians placed in extreme difficulty and
danger have displayed the highest qualities, includ-
ing, in some instances, those that would do honour
to veteran soldiers.

" It is satisfactory to know that the general mass
of the population of India have taken no part in the
rebellion, while the most considerable of the native
Princes ave acted iu the most friendly manner,
and have rendered important services.
" I have given directions that papers nlating to
these matters shall be laid before you.
" The affairs of my East Indian dominions will
require your serious consideration, and I recom-
mend them to your earnest attention.

" The nations of Europe are in the enjoyment of
the blessings of peace, which nothing seems likely
to disturb.

"The stipulations of the Treatywhich I concluded
with the Shah of Persia have been faithfully carried
into execution ; and the Persian forces have eva-
cuated the territory of Hent.
" GENTLEMEN OF THE HOUSE OF COMMONS,
"I have given directions that the Estimates
for the next year shall be prepared for the pur-
pose of being laid before you. They will be frarw,d
with a careful regard to the exigencies of the public
service.

" MY LORDS AND GENTLEMEN,
" Your attention will Le called to the laws which
regulate the representation of the people in Parlia-
ment, with a view to consider what amendments
may be safely and beneficially made therein.
"Measures will be submitted for your considera-
tion for simplifying and amending the laws
relating to real property, and also for consolidating
and amending several important branches of the
criminal law.

" I confidently commit to your wisdom the
great interests of my empire; and I fervently pray
that the blessing of Almighty God may attend
your counsels, and meet guide your deliberations
to those ends which are dearest to my heart —the
happiness and prosperity of my loyal and faithful
people.
Lord PORTMAN, who wore the uniform of a deputy.
liee‘tenant. then rose - fry the . purpose of moving
*Actress to her Majesty, in answer to her most gracious
speech on the opening of Parliament. The noble ord
said be must apologise to their lordships for occupying
the present peaition, which was generally fil!el by a
younger member of Parliament. He held that position
by no voluntary act of his own, but by the express
wish of her Majesty's Government—(hear)—who
thought the address should be moved by an older member
of their lordships' house, and in acquitting himself of
the duty, he begged their indulgence, while he for a
short time occupied the attention of the house. The first
thing which called for remark was the stets) of our do-
mestic policy, which was such as to induce her Ma-
jesty's Ministers to issue a letter, which led to the sus-
pension of the Bank Ohartier. He thought, under the
circumstances, it was both a judicious and wise
policy, and that her Majesty's Ministers were justified
in taking that step ; and it was most fervently to be
hoped that their lordships would in this instance follow
the course that was taken in 1847, when a similar
circumstance occurred. The commercial crisis in
America had, no doubt, produced an effect in this coun-
try which rendered it necessary to issue the letter to
which he had alluded, as it became absolutely neces-
sary to adopt the moat energetic and deci-
sive measures to bring the panic to a
termination, and by that means afford relief to the mer-
cantile community. It was satisfactory to think that
the worst of this distress had been surmounted, and that
it would nut be necessary in this instance to resort to
a paper currency from which the most disastrous results
might arise, but that the currency of the country would
be established on a solid and sound basis. He did
not intend to enter into the circumstances that
had led to the suspension and closing of so many mer-
cantile firms, as that ciscurnstance of itself would lead
to inquiry ; and without passing any opinion, be thought
it would be found that the panic had been the
result of over-speculation. The noble lord recommended
to their attention the consideration of bills for the sim-
plifying the transfer of real property, and like-
wise for the consolidation of the criminal laws,
which, by a paragraph in the Royal Speech, her Ma-
jesty informed them were to be laid before the house,
He believed that there was not one of their lordships
present who was not convinced of the necessity of
again taking up the subject of Reform—(tear, hear)—
and be felt sure that the subject was of such great im-
portance that he might be excused at that moment further
alluding to it than by saying it was one worthy the most
attentive consideration. The noble lord next alluded to
India, and said that the subject was one the importance
of which nearly overwhelmed him. Many questions core
nected with India must come before them, and he
felt confident that their lordships would adopt the wisest
steps, at whatever sacrifice, to restore tranquillity and
peace to that country and the good of the empire, There
is only anotheit topic to be alluded to before sitting down
and that is a part of her Majesty'e Speech which may be
described as almost the only happy portion of it. It is
hat in which her Majesty assures us that nothing seems
ikely to disturb the blessings of peace which the nations
of Europe are now enjoying. (near, hear.) g y lords,
it is censoling to think that, aftir all the contests we
have gone through in endeavouring to discharki the
auties of our position, oar allies are still oh the most
amicable and friendly terms with us, He trusted that that
Peace will endure ; that the same feeling which has
hitherto actuated the Emperor of the French towards
this country may long continue ; and he further hr
that the treaties which
we have etered into with He's's%
and with Persiarnzy tend still further to cement and
consolidate the pee cf E
pe. The net le lord con-
cluded by moving that
an be preeentLd
to her in terms which, h"b Ad
Address
exacty with those of the Speech as usual,'icorresponded
Lord CAREW seconded the motion for the
He remarked that perhaps in the annals of parliamentary
history there was never a more important epoch than 3t117
last few months had created. First evfec,,olir,odtih;:teh:raeBWth,:e
monetary condition of the country ;
the condition cf our Indian empire ; thirdly, there were
our foreign relations ; and fourthly, there, was the repro.
sentation of the people at home. file state of Lithe
would seem to give rise to the opinion that a permanent
settlement would be soon likely to take place there. But
there were ma. y matters eennected with that great ques-
tion which he thought would be of great importance, and
with which he thought the Government would be
likely satisfactorily to deal. He was glad to say that,, the
panic in the money market, which has pressed so heavily
in England, had not been felt in Ireland, the country
with which he was immediately connected. There kad
been none of that commercial activity in Ireland which
had led to such thaaatrous results as had been experienced