The Sun.
London, England, 1850-04-26 00:00:00

to
pr,
Pee' to regenerate Ireland by the aid of a present-.°PrietarY• The smell proprietors whom they proposed
to create would find that it would be far better for them
live under a landlord who in periods of calamity
: vatld.
ould share their distress, than to have their whole pro-
perty,
ate, all their hopes at stake on one single strip of
It was said that this Bill would have the stfoet of
enhancing the price of land in the market ; but he he-
t°eyed that although some advance might take place in
he first instance, the additional quantity of land thrown
141 the market would soon bring prices down. Persons
b •
itltalning money to lend, if they were inclined, would lend
,Aer.on ania, unless undersold by the Encumbered Estates
The Bill offered advantages to the new proprietors
rstobich would never extend to the old body of propris-
torn, The real object of the Bill appeared to be to
DropuP
Estat A and perpetuate the action of the.
.Encumberedce
: ,1 'let, which had not fulfilled the intention of
.hn
beefQlStature It was impossible, with the informants
tis before them, to form any correct opinion of its opFra-
;vn• They had heard of an estate, Mr. Baldwin s,
atiichiad sold for twenty years' purchase, but which,e-
ti reautY, taking all the circumstances into consider
ofosno,_daisele.notTfheitsch more than eight and a halt •$ ears Dureh
morning they had read in the journals
me sales effected, one of which sold for niticeen
gears' purchase, another for eight years' purchase, and
tiheeent:thes easa' the price offered was so inadequate that
At #'4la was adjourned for a month. In Mayo the es-
ti,"‘e,, bad been sold for prices which were paid every
t"r waste lands in Australta. Was that a system to *ester e
nl2 king adventitious assistance for the purpose of
atcelting it perimment?—(tiear, hear.) In miserable
eserewretched districts, where a numerous population
„stuatbessis tin]: on a small tract of land, and
Bell utre of
all other places it was most desirable to
He had
""n informs sales could be effected.
d on the best authority. that whenever pro-
Petty se •
be. Situated was brought into the marketl it was
s.:",akely to be sold, except to some new land ord,
.whoo.
"e 'gut be will
parallel for 11)6
to undertake the horrible task
dt
fleeting every single tenant.—(Hear.) If they wante
act or th this -scheme they had but. to look at the re-
the
tiong.reate sales of Church property in consequence of
,„ want of money felt during the French revolul -
16,0(in",1,790. The amount of property there was nearly
e er-t,'"_901., not much larger than the amount which
asyst°9' allowed, would, in a few months, be in the
tin r et in
at', Ireland. Assignats were issued for 7,000,0001.,
Prepubeere ominous point -of resemblance. What was the
lived of one of the greatest statesmen that ever
reflections on the French re-
els brna, said that, as far as could be gathered from
stvel-use't'i—‘°„ e:ledr.i:il,l,rke, in
his
the lands of the Church in reality
leaaheot to be sold at all. According to a resew°f ere t the National Assembly, indeed, they
° °-2 delivered to the highest bidder; but it was
ehis h
observed that a certain portion only of the pur-
twetsi er
iet;;;rsnaeY was to be paid down, and , a period of
Was given to pay the rest. The scheme
kaaeistently intended to let in purchasers withoutld
Ply and the consequence would be that they_wout
Nis 7 °nlY out of the rents, but out of the spoil of ma e-
%ea '3' buildings and waste of the lands, and whatever
alitedi7eratbiliel could, by the greatest usury, extract from
h tenantry. This prophecy had been realised,
the to
effects of the system were still perceptible. in
etsf7ate of the landed interest of France. His intention
tti tf-°„ll2,°'re that the Bill be read a second time that day
to uffitos, but still, if the Government would give him
soughmerstand that it was their intention so to modify
t of the Bill that the privileges which it
tended t to confer on the new proprietors would be ex-
to the ties sh„..„ present. landed. .interest—(Cheers)—he. for
liouseyto,oet not think himself justified in dividing the
that, But unless the Government wouldpledge
give 'no
0444 all events, they would take the question
:°asideration, and unless they would say. they were
tsiet,Lot
r,i4Pared to inflict such injustice as this Bill conno-
-41tes-e'ae..ll the landed proprietors of Ireland, he had
Utile that‘ but to move that the Bill be read a second
td v day six months.—(Cheers.)
the Ir.4ItENCH seconded the motion. The Bill before
4ti -se would not in any way advance the prosperity
jeetosee
or carry out the original intention of the pro-
°Ne
P the Encumbered Estates Bill. The immediate
valfm" ca•L the present measure would ba to force property
kd 11t twenty millions into the market in one year,.
tietantlently it would defeat the object of the ors
Psi
N."4°. It was brought forward professedly for the
eve ,-te, of enhancing the value of land, but it wouldd
ersh'age effect of depressing it, and of driving bond fide
haf;ers Sway. In sustainment of the assertion t
of
srtel ads. created considerable alarm in many districts
41;,„aulong the landed classes. The Honourable
tIPo si-„4„t; read a variety of communications from cor-
n itasess in the south and west. He had no hesita-
Writer,- sseYing that everything prophesied by the
tere 0E those letters would come to pass if the men •
thoq .dere,enected in its present partial form. He next
L'retiset, the great advantage which had resulted
toe Government sanctioning the Bank of Eng-
lillettetrity
of the
advances to the landed interest on the
that
the land in times of distress, and he urge
Bard similar proceeding should be adopted with re-
ltettr;,,e the landed proprietors of Ireland, or that a
Ithich-st„ee,ehould be given for the repayment of loans_
sentd beobtained at a moderate rate of interest. In
flteeld-510°, he expressed a confident hope that the House
`Qt ladlree with him and his Noble Friend the Member
s i 17,;.° in es g the defeat of the Bill.
rrte;;„4GANcshurplhorted the Bill. He had ample op-
Isle -i""! when last in Ireland, of ascertaining the
s."'lsert°isPublic feeling respecting the Bill. and he could
"448 .44t those whom he conversed with regarded the
th 11re
I' ti .tcry favourably. There was no disposition on
filrch4l-; of capitalists in England to vest money in the
Let
es? of Irish roperty, or in Irish manufacture.s.
metre,ietted the ciriscumstance much, and whilst he did
ece""t that there were good reasons for this reluc-
illte 'site believed that it might flow with advantage;
t,he 11.,,,ek channel pointed out in the measure o
Laidficel 1:1,t honourable the Solicitor-General. It was
'4'4 in that in Ireland 3,000 0001. annually was
Shape of interest on mortgages. That
sum
I,lto capital would represent 60,000,900 ~ a
mitr e could be saved by legislation, might be rea
„ester ueuctive of enormous advantagf
s .to the. c.ountrir.
swsesra many solemn reasons, in. his. opinion, fo
'(41;11r1 Tat Bill, and he hoped that it might be soon
etleeerfi)e,.° into a law, whereby the encumbered and the
kr, er'etlces might be mutually relieved.
h,"`stete.:`, BAILLIE said he regretted that no astir
;gees -`„
tit, of the o eration ft this Bill as a financial
~;41eosti,,—„ °ad been laid before e House. It was a Bill
~":ettlftirt certain portion of the land of Ireland into a
Ciprea-,,Tg medium of exchange, or to give a certain set
.31s on of land the power of issuing Exchequer-
teeth security of their property. This might be
11„.! terite,cls to some proprietors of land, but he thought
b„,"°° at °a admitted at once to be an experiment.
ZPo ta.„ experiment involving a principle of great
`edercre, and, therefore, it should not be pro-
tillatilssfuetowr„tth except upon the most clear and
tasfae•Telio grounds, stated to the House by
tzf, the Exchequer. He understood that
lf,°,ootha °Per: Encumberedller. Estates Act
aerlt°‘°°°l worth of the
land would be forced into the
e4ti:te.. Now if purchasers had the option of putt-
elled 'tnwith Paper. or with gold, which this Bill pro-
-100 Dash give them, undoubtedly they would purchase
Isiii°oo,oq and cnsequently it might be taken that
be I less!, worth of paper in the nature of Exchequer-
the"ff`i had its y • into the market. What would
Is-Zlh%flesetweorfetnhowata value of Exchequer-bills ?
high premium, but after the
vi_Olettt,it'isfstilis Bill, wwohuld they continue to be so? And
4„-I1 bas.ll,llce was there that a similar Bill would not
ts"rsree„,-uPded to Scotland, where ho could assure the
tta 'nt there
of is that was. much occasion for one? He
he 4e Gov Was a tacit acknowledgment on the part
earedr ternment of the utter failure of the Encum-
h 'tates
re„, , Bill. He regretted the circumstance.
etil th a°Ped that in a desire, no doubt sincere, to
wouldme evils which still remained unremedied,
-I,...reed. '3;4, by hasty legislation on a difficult sub-
kis be Sp 'rr tam orsethanthey were at present.
the C'ICITOR-GENERAL said it was quite a
Sf skseese°t:llPPose, as had been stated by some, that
the old *55 2. mere revival, with trifling exceptions The
tectiosa eYstera of judgment-debts in Ireland.
"° the general provisions of the Bill reduced
ssatterbe!..
,Itehaeto..._three—first,-that the Bill was a Bill to en-
lige. tutu et`e.oPerty over again,and that it did not
eft__ teeeillf
.etthe real object of
.the Act of last ses-
-14 its 03:13. it was objected that it did not carry into
l'S•cleret• qt° Object; and, thirdly, it was objected,. that
tae "11 ")11 Wa unjust towards
regat,,, s
bres-111Pftreligtlty° plans objection, he admitted that it
te!enwhi,,,ble, and that such was the first im-
Ithielrer, he`l made. When carefully considered,
tali the sure that that would not be the opinion
be 'l. —I" would allow any one to form of its ope-
ee,, 'see in Was evident that any one who wished to
%ash%lreland might borrow money for the
1144 :Ihnder the Encumbered Estates Act,
ilett,t4l till: individual would receive a Parlia-
sisahle he could not be prevented from encum-
elle 4 10 .554111ing that there were twenty persons den-
Nl4llllrat:° Set, if they did so now, they produced a
tie„broseeee analagous to the old encumbrances, an en-
e4-
be theunder which the creditor could take pos!es
ekasell the incidents
and also the debtor in excution,
lt thereeeese incidents which belonged to the Irish en-
kefssla Bill' with which the House was familiar.
__ Now,
detthis were to pass, purchasers would probably
ressat hmde of borrowing money, which was less
Ids al to th •
ebe rear e interests of all the parties concerned.t
WearteTet to the two other objections, it did no
argorneve necessary that he should state in detail
toshe htile tsilte by which they might he answered, and
,lattleugatitreaeirefo.re content himself with answering the
leers rgeti a
.00servations which some Hon. Members
eehnnee thgalest the measure. With regard to thei ob-
-1404°f theeEll°ll• Member for Invernes.s, that the Chan-
:hie:, tz,r,e
etif,tlateernfinnaanicliawal
410.- 4 euequer ought to hare given to tbe House
yoperation of this measure. he
ises,„ll°4ll‘,,wwatLquite as unnecessary as in any private Bill,
for instance, where the corn-
its s'a the,. TPOVVered to raise 3,000,000/. on debentures,
it
11`:Pertiti.(73utd• This Bill bad also been assimilated in
lat.' least to Loh the aasignat system; but it differed from
zieris°,4 t 5 1..,6, that it was not a Government specu-
haiird into q'te_o Motley on paper which gradually dege-
chart Q.o4l,,usgalte worthlessness. It was so far from
eiss `atnent speculation that it was a particular
th•ZospseiEeutia. particular estate, which particular estate
to „ of In the particular certificate of charge, and
ttqtrfa,,Y off the the estate were allowed to sell the estate
a g'o!loarge, Ile thought these objections did
thst ~TheserCild why the House should not adopt this
mo„ 2.3 one thing which he thought was clear,
ise7'etageou's was advanced under this Act it would be
td,',riott, Another objection was, that it would be
RrnssilenderPsro&rietors, because the facilities it afforded
!fftstlg ethane tnoneY would have the effect of en-
uebesit:'°Uld be t of money to these estates. If the
ottl4, are%
the attract the outlay of money in these
see theaDitist that
circumstance would also draw
oulth, at ttloes_ or
general investment. Everybody
i1ive;74:1,141 transferred every day to the con
tiltd itinuld be Laugh mote gclygu- •