The Sun.
London, England, 1850-06-20 00:00:00

BANK OF AUSTRALASIA.

The annual meeting of the proprietors of the ahoy*
company- was held on Monday at the offices, Austin-
friars ; Mr. Brownrigg, Mt., in the chair. The ad-
vertisement by which the meeting had been convened
having been read,
• The annual report of the directors was submitted.
The directors said they had the pleasure to state that
satisfactory progress had been made in the colony to-
wards realising the debt due by the Bank of Ans-
tralie, and to express their conviction that the whole
amount of the judgment would in a moderate space
of time be paid; tl.ey had, therefore, brought to ac-
count the amount of interest and costs recovered at
Sydney—namely, 65,182/. ss. ld. Against the few
English shareholders of the Bank of Australia who
had declined to enter into terms of arrangement the
directors had steadily pursued their course ; and, al-
though they had been met by every device that legal
ingenuity could suggest, they had in the only case
which lied horn heard obtained the unanimous judg..
ment of the Court of Common Pleas overruling all the
objections that had been raised, and leaving as the only
point for decision the simple question of fact, whether
the party sued were a shareholder or not. The directors
had since come to terms of compromise in the case
referred to, and were still ready, as they hod always
been, to make arrangements with the other parties
against whom proceedings were pending. In the tenth
paregraph of their report last year the directors stated
the extent, according to the best estimate they were
able to !mire, of the probable losses of the bank, in
addition to the sum then available as the balance of
the had debt fund ; and acting upon that view, the
following would show the result:—At 16th October,
1848, the estimated deficiency, after applying the bad
debt fund of 82,0181. 15s. 7d., was 49,0091. 10s. 10d.,
egainst which bed been placed the interest on the
hank of A.ustraiie, debt and costs, 65,182/. ss. 14.,
leaving a surplus according to that estimate, of
16,1721. 141. 3•:.; to this were now to be added the
net profits in the colonies, and in London, for the
year ending 15th October, 1849, after deducting ex-
penses of management, 54,330/. lls., less irrecoverable
debts written off in the year in the colonies in excess
of former estimates, 6,284/. 17s. Bd., and dividend of
12s. per share Ist October, 1849, 13,500/., together
315451. 3s. 3d., which added to the 16,1721. 4s.
lett a balance at the 15th of October, 1849, of
50,7171. 17s. 63. The assets and liabilities of
the bank at the same period stood as follows;-
Assets Government stock, specie, and cash,
448,3521. 3s. 5d., bank premises, 24,2991. ls., bills
receivable and other securities 1,299,829/. 18- 5d
together 1,772 534/. 2s. led. The liabilities were—
Capital, 900,000/. circulation, 106,4651, bills pay-
able and other liabilities, 245,4231. 4s. 2d., deposits,
469,928/. ls. 2d., profit and loss, 50,717/. 17a. 6d.,
together 1,772,534/. 2s. lOd. The directors, since
their report in June last, had received advices and
valuations from the colonies, which led them to
anticipate a considerable addition to the losses then
estimated by them upon old dependencies, not how-
ever to such an extent as to render it necessary to
interrupt the payment of dividends, although the
effect must be to continue a low rate longer than had
been hoped end expected. The disappeinment which
was felt at the result of the estimates referred to had
determined the directors to abstain for the future from
laying any fresh valuations before the proprietors, but
to write off the actual amount of loss ascertained as
each dependency was wound up. They had also re-
solved to appropriate the surplus yearly profits, after
paying dividends, to meet such contingencies ; and as
the current business of the bank was of a healthy,
profitable, and improving character, the *directors
entertained a confident hope that ere long they would
be justified in increasing the dividend to four per cent.
per annum, but they were of opinion that this rate
should not be exceeded until the securities held by
the bank were either realised or all question as to
their depreciation set at rest. The October dividend,
however, would be continued at the present rate of
12s: per share, free of income-tax.

A motion for the adoption of the report having been
made and seconded,
Mr. Sergeant GASELEE objected that the accounts,
as givcn above, were not sufficiently set forth in de-
tail, and suggßsted that, at least, the various items of
expenditure should he stated.
The CUAIIIMAN said that the statement of accounts
was in the form that had been regularly laid before
the proprietors for the last 15 or 16 years and that
much injury would result from too detailed a state-
ment of the assets and liabilities of a banking es-
tablishment.

After considerable discussion the report was
adopted.
Mr. Sergeant GASELEE then moved that the direc-
tors be requested to publish a more detailed statement
of accounts, and that the annual report of the directors
be forwarded to the proprietors seven days before the
annual meeting.
The resolution, having been seconded, was put from
the chair and lost.

A vote of thanks was given to the chairman, and
the meeting broke up.

TIIE QUERN OF THE BELGIANS.-DOTER, JUNE

—The town of Dover may well feel proud of the achieve-
ment of to-day, in effecting the embarkation and immediate
departure of her Majesty's mail packet Vivid, Commander
Smithett, with the Queen of the Belgians and suite, for Oe-
tend.• The hour appointed for the departure of the royal
party happened to be that state of the tide known as " dead
low water," which in all times past at this, as well as all the
neighbouring ports, rendered it impossible for vessels to
leave the harbour; but through the unprecedented progress
and successful construction of the new Admiralty Pier, and
the kindness, exertion, and facilities of the Messrs. Lee, the
contractors, and their assistants, upon this occasion, this, the
swiftest steam-boat afloat, took on board her august passen-
gers and luggage at the new pier, at a point about four hundred
feet from the shore, and where it was ascertained, at low
water, that the soundings enabled Captain Srrithett to move
off in gallant style, amidst the universal applause of the
greatest concourse of people that has been assembled in
Dover for many a long day.
He that considers how little be dwells upon the
condition of others will learn how little the attention of
others is attracted by himself. —Eliea cook's Journal.
STANFORD HILT. HORTICULTURAL SOCIETY.—Th e
exhibition of this society was held
tiful grounds of Josiah Wilson, Esq.
ofTtillteegtrnooust elegantwe
thronged by a very large assemblagte _
yesterday i n thends beau.
propitious for theoc-
casion. An immense marquee Ras
order. Here, and
ewer nwpsitetted, under which the
110WeIE, &C., were arranged in. ):,,,althe
company
nromenaded
under a tent of smaller d
i .illa.'eti.l7pWva-Tious plants and flowers for
for the purr)
oppositifolia, from the
beautiful specimens i‘aL polygala
oienatghtehe'ilaiisisi:nitetwiabsya
very
; splendid az3.li:-.,, tea-scented safrano,
dofbse-e-an.7aiieneiatrded. Among some of the most
a beautiful variety of
~ ~• -, 1
~ .
variety
which prizes
Good dolsi.Hae Hope;
fuchsia.-, aphelexis humilis, erica ca-
The geraniums were magnificent,. and occupied the left
&a
. the vast marquee (on entering) nearly the whole
vendishiane, extra seedlings, ealceo arias, a of cactus,
side of
We observed, also twelve beautiful pinks which
b The
animated and pleasing one, and the
sore
was highly creditable to the society. The scene
pleasure of the day was much enhanced by the performance
of the band of the 2d Regiment of Life Guards, under the
one which was Mr. 6ra
Y.
direction of Mr. Grattan Cooke.
The West India and Peninsular Mails were not
dispatched on Tuesday from the General Post-office in time
for the mail train, which leaves the Waterloo station at 10.30
A.M., in consequence of the, presist-e of husinees iii that
ollice, consequent on the arrival of the American mail. The
first-mentioned snails were therefore dispatched by the 11.45
aakt• express train, which stops for the first time at Bishop-
stoke A Queer,'S
Messfmrrer, with dieparehes fir hPr Ma-
jeety was in a second-clasiS carriage; and. when the train
,
stopped, and while he was standing and gathering up his
dispatches, a couple of cerriages were driven against the
train, and the messenger was dame violently on the ledge
Of the hack-board, and immediately fainted away. As soou
as the accident eras known, a gentleman in the train, said to
be Lord Adolphus Fitzclareece, immediately rushed to the
spot, and secured the dispatches. The messenger was taken
out and laid on the platform, and, by the application of cold
water, ha recovered his senses, and stated that his ribs were
broken. lie was then taken into the station, and a surgeon
who happened to be in the train waited on him. Before the
train proceeded Lord Adolphus gave the dispatches to the
train-guard, who conveyed them to Osborne House from
Southampton, in the Elfin royal yacht, which was jai waitipg
at the Jotter
place or the meimger,

rrifiYOir.~

IMPERIAL PARLIAMENT.

HOUSE OF COMMONS, June 19.

SCHOOL ESTABLISHMENT (SCOTLAND) BILL.
(Continued from our Afternoon Edition of yesterday.)
Sir GEORGE CLERK complimented the Noble
Lord on the very masterly statement which he had just
made, but he said that he had failed to remove the ab-
jection from his mind which he felt against this Bill.
The object of the ancient fathers of the Scottish Refor-
mation had been to establish a competent source
of education, from which the youth of the country
might receive instruction, and this had always been
the ecclesiastical polity of both the Church and the
Legislature since that time. The Church had always
,hold that where there was a church there should also be
a school—they had considered that those who were the
.masters of religious instruction should also be the organs
of secular education to be a handmaid to religion, and it
'was to that system that the Scotch people owed the re-
putation which they had always held of being a highly
moral and religious people. Still he was pre-
pared to allow that one school to each parish,
enjoined by the Legislature, was not sufficient to supply
the wants of the increasing population, but he thought
.that the Noble Lord had much overstated his case. lie
thought his statistics were entirely erroneous. There
were two other reasons, besides the want of school ac-
.commodation, that prevented the spread of education in
Scotland—causes which he thought lay still deeper.
In Scotland he found that there were 600,000 children be-
tween the age of 5 and 15, and be believed that four-fifths of
the children who attended schools iu Scotland were below
ten, and he wished devoutly that something could be
.devised to keep them at school longer, but ha thought
the evil was too, deep seated. There was no reason to
.think that there was any deficiency of desire on
the part of the people of Scotland to hold out peon-
niary aid to the cause of education in that country;
.and he could assure the House that education had in
reality greatly inereased in the last few years. He was
not unaware of the great efforts of the Free Church of
Scotland in this cause, and he had no wish to underrate
them; but he was afraid that in many cases schools had
been built out Of a spirit of rivalry, and a wish to draw
scholars from schools already existing. He quite agreed
with his Noble Friend that schoolmasters in Scotland
were not sufficiently well paid, and he believed that
there would be no objection to a moderate increase in
their salaries throughout the country.—(Hear, hoar.)
Ho thought it would be acknowledged that this Bill
•did not meet with general approbation in Scotland.
When those schools were conducted on such a liberal
principle as to admit the children of every class of per-
sons without offending their conscientious xeligioul
scruples, and when they gave security that religious in-
struction soould be given in those schools from which no
class of persons in Scotland differed, is very strong case
should be made out before the Mese disturbed a
system of education which had hitherto worked
so well. He entirely objected to the principle Of the

Noble Lord's Bill, because it proposed to give some reli-
gious education in the schools to which no person could
object; or bFcause it excluded from the schools-the teach-
ing a!, au essential part of the education given
in them. He objected to the main principle of the Noble
Lord's Bill, which Trinciple was to sever the connexion
between, the Established Church and the parochial
schools,. That was the main object of the Noble Lord's
Bain.that was the only portion of the Bill which was
pcsitively-enected. It put an end to the superintendence
of: the -Church over those schools. It no longer ren-
t dered it necessary that the schoolmaster should be a
member of the Established Church. He (Sir George
Clerk). would -ray, whatever the house: did let
them do in-' the way of encouragement; this Church
of Scotland looked. with no jealousy oa the aid
which,had haen given to tlie Free Church or any other
schools inScotkpd. The voluntary principle was work-
ing at tbl;:presentiatonleutin Scotland; large sums
o _ Constantly being raised under the in-
11.4ince'l of that -P-4:-.Cinln by the proprietors r.nd
by. tie Oeherul Assembly itself. There had been
vartiiitarycolleetiona inacie in the schools connected
-the tathhlisbed Church ainourti:lg to nearly
This Bill did not necessarily provide au addi-
tional school; it cilil nothitig itself to meet any clkeiency
which might exist in the .edtication now given. He
wodld entreat the Hedsd to IC3I/13 the question of
parochial -schools untouched. Ho implored the House,
however mach tie; wished to see education ex-
tended in Seotland -- and no person. could be
more '''TleiirOus to see it ascended than hires-if—
toleiv6 intact the-present eXcallent system: a education
..in.Sebtland which' had 0 long' been carried, on under its
parochial schools. With those Observtions he shouts,}
rani46 that the Bill bd'idad: a second time this day six
Vonthil. ' •
i fir: PERGUB supported the seend reading of the
whre,unittera Of detail embodied in th;*'Bul
tic piottght might he-meter be corrected in 'a Corn-
4-'inittieePtifi the-House; but the principles which he ionnd
in:, this were two; in the first place it institnt,:d a
Oink* -Control- ever the' achools, and in the second
platotit'r6pealed sll-religious tests as a qnalificatinn for
schoolttraSter.--KLICar, liear.)- To those liriz.ciples
read to' err e his most cordial' assent.
Ho believed they were principles which would
find anneptance &Meng the great body of the people of
Scotland, and were principles which lay at the root of
all, just legislation on this subject. Re maintained that
the influence which had been exerei.sed by the clergy of
the. Church .of _Scotland had done nothing of itself for
the parockdat.schools ; and he thought it was a great
question.for the House to consider whcther, in the pre-
-; sent position of the Church of Scotland, the Muse
, would give to the clergy of the Established Church ad-

ditional power; of control over those school 3.
" Mr. OSWALD opposed the Bill. He affirmed that
t'iheltonse was not, in possession of that int ortration
wq.l absolutely necessary to erable it to deal with
16 Momentous a question is this. lie asked the House
if it was. Preparect to root up the system of. education
which. John Ictiox began in Scotland, which had existed
for Many' eetiiiies, -and which was the pride of their
revolfftionarysettlenient, end throw all that to the
beCause the Noble Lord (Lord Melgund) thought proper
to/collie 'down to that House -and 'mako 'A very itoe•
speech of ono hour? He (Ur. Oswald) objected to this
bece,had it enacted a total severance' of religion from
--:ths,ifistruet:ion of 'the young and he would 'therefore
Aslitoft-thetinentlinent of his. Hop. Friend (Sir George
FON MAITLE said the. question iniolved in
wits; whether' or- no the present system of
bstablished by law, Was adequate to
;A Mil- wants -of -the' people;' hut, nevertheless, lie felt
it to be his duty to confine his observation to the
principle' -Of ibis'. Bill only.: -This was not the time for
discusiing, its details. Now, what- Was the princi-td
pie ? z The preamble stated that the present means
of-education in Scotland were inadequate'to-the wants of
the-people, and that was the point which he now pro
postedl`to :confide himself:to. Were the,means sufficient
was the:- ltiestion 'felt called upon to decide, and
I:;tin answering it he t.hould endeavour to avoid anything
which: might seem- like hostility -to the parochial
schools of Scotland. Years ago there was but one
-,a,ayistena, of edne.ition in Scotland, and that was regulated
rhy toe. Established Church, but in 1811 the people
~=:lipican-to forsake the: Establishment for the Free Church,
;and its 1843 that separation was completely effected.
..The-Established Church was now in the minority, and it
was therefore preposterous to say that any national sys-
tem of education should be under its guidance alone.
Now the Bill Was -not intended to destroy the parochial
schoota"; if it- were it would have met with no support
frdin him; but the fact was, it was proposed with the
vidw dreforming these schools. At present a gentleman
could not be a master of one of these schools who was not

cohneeted with the Established Church, o, rule which_ stood
greatly in the Way of the education of the people, and one
41101"th0 first objecte cf this Bill was to do away with that
Aricticiti.eelts existence could not prevent the e,teb•
4'elislienient of free church schools, for within the last few
adars'thete were 730, and one of the objections urged
eelettrist these schools was, that they embraced no
reftit'''' Or religious teaching. He for one denied
%U% tO"ohildren in the schools established by the
'`iletlfet' church were drawn from other sources
4ltyoti-zthiete which supplied the parochial schools
einthieleolars. The feet was the children being edu-
741Afff -in'ethe schools of the Free Church belonged
to-,varents who had seceded from the Established
Ctittreb,.and in order to increase the usefulness of the
parochial schools the Legislature must give the people
some Control over the masters who were to teach in
them. At all events, unless something were done in the
same manner as was proposed by this Bill, they woule fine things growing from bad to worse, and eventually
the -evils( and direculties which must arise would
become,
almost insurinuuntable. There was no part of
the jdortiena.so favourable to a uniform system
of edu-
, Scotland, and entertaining that opinion he
bhouldeevege 'for the second reading of this Bill.
lie
sort, clearly that unless the House interfered
the abodes of the existing system would get beyond the
limits
and ho therefore entreated the II •
off' remedy,
with the view of having it Howe
t<tlppt"::tlus Bill, referred
It"; ofwi a Select Committee.''
QV. ,
of education was boastclosely
Mr. CUMNIING- bRUCE said it had been the
of Scotland that her systemic
was 1 proposed fo
connecter.] religion.
a plan which was said
change that system
s changete m w hwi
ca
he
to be now in operation ')ir.nilAatisviecan.e
wTsh;
justified, on the ground t
would be altOgetherdisconnected with r3elig_ioons,v,wiafstcheily-
culated to make children good citizen s•
which they
were to judge by the experience
had had: vita_ plan in America,
ent on the
believe that was any improvem
he did not
existing system. At all events, the present system
had never_ produced a body of citizens who could arm
such an expedieion as that which they had recently
heard of as saiiiag,,agYainst Cuba. He (lid not deny
that there was, .room , for reform in the present
system, but, 1101 mould be no part to any
-.. proposal which would have the effect of separating that
system from religie44: and he should therefore vote for
the amendment..eee, ,
Mr. MACGREP•4"-14,. intended to vote for the second
reading of this Bil!;:bUt he should reserve to himself
the right of Wejectleg to soma of its details in
Conminee. 'The present system of education had pro-
duced much good in
,Scotland, and it had been equally
productive in America. With regard to the observation
of the last speaker, that tho system had never pro-
duced an expedition Tee that which had recently de-
scended upon Cuba, he must take leave to remind
that Ilon. Gentleman that the expedition did not sail
from New England, which was the only part of the
States where the Scotch system of education had been
adopted. Ia point of fact it was fitted out by a stat,
that maintained slavery and supported no system of
education whatever.
The House then divided, when there aprearßd
For the amendment ." 100,
Against it
...
Majorityr(ac
against the Bill -• —6
The Bill was ace° gthrown out.
• FRIENDLY SOCIETIES BILL.
Mr. BROCELEHLTBST presented a petition, bearing