The Sun.
London, England, 1859-04-07 00:00:00

EAST INDIA LOAN BILL.

The Earl of DERBY rose to move the second reading of
this bill, and he hardly thought the house would wish him
to go over the statement he had made to the house the
other evening upon the question of Indian finance. Their
lordships would understand that in asking their assent to
this bill he was merely asking for a grant on account.
In reference to the subject of the military successes
in India, he would take this opportunity of stating
that on Monday next he should move a vote of thanks, in
the usual form, to the Governor-General, and to the army
in India ; and, with respect to the subject of a day of thanks-
giving, he had to inform their lordships that it was the in-
tention of her Majesty to issue a command to the right rev.
Primate directing him to prepare a suitable prayer of thanks-
giving to Almighty God, in gratitude for the signal blessing
conferred during the outbreak in India. With regard to
the subject of railways mentioned the other evening, their
lordships were no doubt aware that under the existing
system, the Government guaranteed a certain return upon
the expenditure of capital in their construction. When the
profits reached 5 per cent. half were handed to Government
to liquidate advances made, and the other half distributed
amongst the shareholders. With reference to the question
that had been addressed to him as to the steps taking to
reduce the military expenditure, he had to inform the house
that, although the military expenses were of an exceptional
character, he was fully sensible of the importance of
reducing the military expenses. (Hear, hear.) The
forces at present in India, of all arms, amounted
to about 112,000 Europeans and 320,000 native troops, in-
cluding the police, and at this moment the number of native
troops, including police, exceeded by 50,000 the whole num-
ber of native troops az our disposal at the commencement
of the mutiny. As the mutiny had been brought to
a termination, instructions had been sent out to the Gover-
nor-General to effect as large a reduction as possible in
native troops—(hear, hear)—especially in the newly
raised levies, but, as a natural consequence, the reduction
would be but.slow and gradual. There were at present in
India 85 of her Majesty's regiments, but the Governor-
General had intimated his intention of returning 10 regi-
ments of the lino to this country in the course of the
present year. The principal departments in which the
reduction was at pres out taking place were the commissariat
department and the conveyance of troops. (Hear, hear.)
The time was now ft st approachir.g when it became abso-
lutely necessary to aittle the permanent peace establishment
in India. In the fiLst place, it would be absolutely neces-
sary to ascertain the actual force essential to maintain tran-
quillity in India. It would be important to know what pro-
portion might be safely maintained between European and
native troops in the permanent military establishment
in India, but, at the same time, it would be necessary to
remember that, for a long time after the mutiny was sup-
pressed, it would be prudent to keep a European force suf-
ficiently strong to ensure the supremacy of the British
Crown. Before he resumed his seat he could assure the noble
earl opposite (Grey), that the Governor-General was sen-
sibly alive to the great importance of speedily curtailing
the military expenses. In making his observations on tho
different subjects he trusted he had touched upon every
point that called for remark, but, in the event of his not
having done so, he should be happy to give any informa-
tion that might be required by noble lords opposite. The
noble earl resumed his seat by formally moving the second
reading of the bill.
The Duke of ARGYLE hoped that in the future settle-
ment of the question of Indian finance a sound and mate-
rial basis would be decided upon, but at the present time
there were certain questions which it was of
the utmost importance that all parties should arrive
at a satisfactory understanding. He wished to know whe-
ther it was true or not that the British Exchequer was
liable for the debt that had been contracted for the sup-
pression of the mutiny. He was frilly convinced of the
vast resources of Hindostan, and that they would
in course of time yield support to liquidate all the
the immense outlay, but that circumstance would not
justify a profuse and extravagant expenditure being main-
tained.

[LEFT SPEARING.]

HOUSE OF COMMONS—(TIM EVENING).
The SPEAKER took the chair at four o'clock.
PRIVATE BUSINESS.

The following bills were read a third tine and passed :
Great Western Railway, North British and Selkirk and
Galashiels Railway Companies, and Tyne Improvement
(verbal amendment to be proposed).
The following bills were considered and ordered for third
reading :—Portsmouth and London and South Western
Railway Companies; South Wales, Pembroke, and Tenby
Junction Railway ; Wear Navigation and Sunderland
Docks ; Hereford and Brecon Railway ; and Lymiugton
Railway.