The Sun.
London, England, 1861-07-06 00:00:00

THE SUN, LONDON, SATURDAY IVENING, .117 LY 6, 1861.

Government, and that under the circumstances he would
not think it necessary to ask the house to agree to the
motion. (Hear, hear.)

Lord LYVEDEN regretted that the expenditure upon
the public works in India was to proceed by driblets, as
Government had now a great opportunity of winning the
confidence and loyalty of the people of India. He was
bound to say that the people of India believed the Court of
Directors of the East India Company had not urged on the
construction of public works with that vigour which was
desirable, and in that belief it was natural they should look
to the Government for a different system, and it was im-
politic to disappoint them. The money could be raised
either by loans or by companies. He was not himself a
friend to the principle of Government guarantees to private
companies, but as the people of India themselves would not
help them, he felt that joint-stock companies, incorporated
to carry out large public works in India, should meet with
every encouragement from the Government, who should, as
stated by Sir A. Cotton, inspect but not interfere with their
proceedings.

Lord OVERSTONE said he also concurred with the
noble earl as to the importance of the works to which
he had alluded, but the question they had to consider
was, how far it was safe to burden the resources of the
country for their execution. He did not see from what
source the funds for them was to be derived, for Indian
credit was already pledged to a sufficient extent. He be-
lieved there could be companies got to carry out these
works at their own risk. After the statement made on the
past of her Majesty's Government, he did not think it de-
sirable the noble earl should press his motion. Out of re-
spect for him he would not wish the house to negative it,
but would move the previous question.
The Marquis of CLANRICARDE had always been of
opinion that the government of the East India Company
had been very bad ; but he would be sorry to take so
gloomy a view of the financial ,condition of the country.
For what he said amounted to this, that the finances were
so bad, that it was impossible to obtain money upon the se-
curity of the revenue. That he could not credit, when

here was almost immediately e return of 69} per cent. upon

the money expended on works of public improvements in
India. The speech of Mr. Laing, as quoted by the noble
earl, clearly showed that there was no intention to execute
any public works but those for which they might be able to
pay out of the revenue of the year, whereas the proper
policy would be to raise a loan for that purpose, especially
for works of irrigation.
The Duke of ARGYLL said the noble marquis entirely
misunderstood his noble friend, who was not opposed to the
principls of raising loans for the construction of public
works in India. All his noble friend had argued was, that
until the finances of India were relieved from the but den
which at present pressed upon them, it would be impolitic
to put a further load upon them. There were few, he be-
lieved, who really understood how far the Indian finances
were already pledged. There was a public debt of
£100,000,000, besides which there was a guarantee on
£56,000,000 of capital embarked in railway enterprise, on
£38,000,000 of which Government would have to pay inte-
rest during the present year. There was a great mistake in
imagining that the Indian Government was neglectful of
these matters, for they had, since the time when the Mar-
quis of Hastings was Governor-General, promoted them,
and they had, since then, executed 1,80 miles of canal.
The previous question was then put and agreed to.
LANDED PROPERTY (IRELAND) BILL.

On the motion of the Marquis of CLANRICARDE,
this bill was passed through committee, and their lordships
adjourned at a quarter to eight o'clock.

HOUSE OF COMMONS—YESTEUDAY.
The SPEAKER took the chair at twelve o'clock.
PRIVATE BUSINESS.

The Lords' amendments to the following bills were fur-
ther considered :—Enniskillen and Bundoran Railway ;
Midland Railway (Otley and Ilkley Extension) ; New Ross
Port and Harbour ; North Eastern Railway (Extension to
Otley, &c.) ; Parsonstown and Portumna Bridge Railway ;
and West Cheshire Railways.
The following bills were read a third time and passed :
The Glasgow (City) Life Assurance, &c., Company, the
Great North of Scotland Railway, and the South Essex
Water.