The Sun.
London, England, 1868-03-24 00:00:00

IMPERIAL PARLIAMENT

NORIIY MARKET

AND
COMMERCIAL INTELLIGEN au,

CITY, TWO O'CLOCK.

The Stock Markets are Perfectly inactive. 23usi-
ness from the public is evidently prejudiced by the
efforts about to be made in Parliament to raise dis-
turbing questions, although much satisfaction is felt
at the promptness with which the discussion on the
Irish Church resolutions will be taken. The Funds are
stationary ; and in the principal descriptions ofßritish
l'lilways no change of importance has been estab-
lished, though in several cases the tone is heavy and
dull. The principal foreign stocks remain at previous
prices, but with scarcely so good a tone as that which
has recently been prevailing.
Money is firm in price. The rate in the open
Market for first-class commercial bills is 2 per cent.
On the Stock Exchange the terms for short loans on
good securities are 1 to 2 per cent.
The English Funds are steady. Consols opened at
Yesterday's prices, at 93 to 93k for money, and 93k
for account, at which they are now quoted. New
and Reduced Three per Cents., 91i to 92 ; India Five
er Cents. unaltered, at 114 to 1141 ; Exchequer
441115, 10s to 15s prern.
In Foreign Government Securities, Italian (1861)
bonds have recovered k; and Turkish, the Egyptian
Railway Loan, and the Viceroy's 7 per Cents., are
firmer ; but Mexican, New Spanish, Orel-Vitebsk, and
the Egyptian 1864 bonds are flatter. The following are
the present quotations:—Mexican, 15/s to 16 ; Greek,
12i to 13; New Spanish, 35i to 35k; Italian (1861) 47±
47 ; Turkish (1855), 33i to 331; Portuguese, to
t Prem.; Orel-Vitebsk, 781 to 79±- ; Egyptian (1864),
86 to 87i ; ditto Railway, 90i to 91 ; Viceroy's 7
Per Cent., 731 to 74 ; and ditto 9 per Cents., 89±- to
In American Securities, United States Five-Twenty
•uonds are steady, at 72 to 72f ; Erie Shares and
Illinois are each lower, the former being quoted at
46 to 47, and the latter at 89 to 90.
Atlantic 'and Great Western Railway Debentures
nave receded to 261 to 27, and the Consolidated
Mortgage Bonds ± to 27k to 28.
The New Honduras Loan is steadyat to 1± prem.
In Colonial Government Securities Canada Six pet
Cents are quoted at 100 to 101 ; ditto Five per Cents,
86i to 87i ; Mauritius Six per Cents., 104 to 106 ;
New South Wales Five per Cents., 99 to IQI ; New
Zealand Six per Cents., 105 to 107 ; Queensland Six
Per Cents., 103 to 104 ; Victoria Six per Cents., 110
to 111.

There is no change in railways, and the quotations
turrent are :—Lancashire and Yorkshire, 125 i to 125/ ;
Midland, 105 to 1051 ; South Eastern, 72i to
73 ; London and North Western, 1141 to 1151 ;
Great Northern, 104- to 1051 ; ditto A, 99 to 100 ;
Great Eastern, 31/ to 32/ ; Great Western, 461 to
47 ; Brighton, 48i to 48/ ; Sheffield, 43 to 43; ;
Metropolitan, 114 f to 114/ ; Caledonian, 80i to 801 ;
Chatham, 18,f to 181 ; and North British, 33/
to 34i.
The allotment of the Metropolitan District Deben-
tures will be made on Thursday next. It is stated
that the amount subscribed is about five times the
• Stun required. The quotation this morning is lf to
If prem.
The Foreign and Colonial Government Trust re-
Mains firm, at 11- to 1/ prem.
Bank Shares continue to meet with little attention,
and prices are merely nominal, the only changes
being a decline of in Union of London, at 32-i to
33i ; and an improvement of / in Consolidated, at
4g. to 4a. Agra (A shares), 10 to 101 ; Alliance,
13i to l2i ; Anglo-Austrian, 31 to 4 prem. ; Char-
tered Mercantile, 281 to 291 Imperial, 17 to 17i ;
Imperial Ottoman, * dis. to par; London and County,
02 to 53 ; London and Westminster, 671 to 68k;
Oriental, 42 to 43 ; London Joint Stock, 31k to 32k.
In Finance shares General Credit is * lower at 21
to 21, while International Finance is better at 2to
dis. ; Credit Foncier, 2/ to 3/.
Foreign Mining shares are steady. St. John del
isey quoted at 18k to 19i ; Port Philip, 1i to 1.11
Chontales / to 1 dis.
In Miscellaneous Securities the dealings are few
!Rid unimportant, and not a single variation is noticed
In prices. Hudson's Bay, steady at 14 to 141 ;
ore-street Warehouse, 2k to 1i; dis.; London General
4nibus, 1/ to 2 ; Anglo-American Telegraph, 21i
to 22* ; Atlantic Telegraph 8 per cent., 5 1-16 to
3-16 ; Ocean Marine Insurance, 14 to 15 prem.;
Thames and Mersey Marine Insurance, 4* to 4a
(Tniversal Marine, dis to prem.
The gold returns of the Don Pedro North del Rey
kining Company for January amounts to 11,105
oitavas, and the profits to £2,700 5s 7d. The pro-
needs of the Rossa Granda Mines only amounted to
281 oitavas. The gold returns of the Anglo-Brazilian
mines for January was 2,058 oitavas, worth £926 2s,
and costing £1,434 19s 3d.
There were no gold operations reported at the Bans
Yesterday.
The Australian gold known to be now on the way
5o this country amounts to £1,005,000, of which a
,large proportion will be due in about a fortnight.
the following are the names of the ships :-The Lady
Alelville, with £204,000 ; Kenilworth, with £37,000 ;
Macduff, with .£290,000 ; Mediator, with £37,000 ;
Tine Briton, with .€115,000 ; Holmesdale, with
4'1,90,000 ; and the Superb, with £72,000.
Bombay private telegrams quote the exchange
less
London as * lower, and there is consequently
'ess inquiry for silver. Holders, however, hope
that the newspaper quotation of " document bills"
Will prove correct, and refuse to accept lower
The liquidators of the Scinde, Punjaub, ana
Delhi Bank Corporation have issued their report,
Which is brought down to the close of the second
Year of the liquidation. It shows an esti-
Plated surplus on the 27th February, 1868, of
,i 12,127 Os 5d ; and the report thus concludes :
In our last report we expressed the opinion that
in addition to the return previously made of £6 per
share, and £1 per £5 share, there would ulti-
rnately he further returns equal to 14s per share on
all the shares of the bank. A subsequent return of
108 per share has already been made, and we are
!till of opinion that the remaining 4s will ultimately
be realised ; but the date for a final return cannot
Yet be fixed, inasmuch as further realisations de-
Pend mainly upon receipts from estates in liquida-
tion.,
The report of the East India Land, Cissued. It stateredits, and
Pinance Company has been that
the whole of the liabilities have been extinguished,
and no new business transacted. The interest on
outstanding loans has been sufficient to pay all ex-
penses, and leave a balance of .£2,700. Two pounds
tr share have been already returned, and there will

a further distribution before the end of the year.
The Master of the Rolls has authorised Mr. R. P.
Hardin
,g, the official liquidator of the Joint Stock
; Discount Con:pally, to pay a further dividend of 2s
41 the pound to the creditors of the Company, making
Ivith the previous dividends 12s in the pound.
Subscription lists for the loan for the City et
Florence„ have been opened in Belgium, France, and
Germany, as well as in Italy.
At the general meeting of the "Societe Generate
v,.(3dr Favoriser le Developpement du Commerce de
ledustrie en France," to be held on the Ist of April,
;%tlividend will be proposed of 19f. 40c. per share.
Allis added to the interim dividend paid on the Ist of
yctober last of sf. 6c. will make for the year 1867 a
dividend of 25f. per share.
The Government of Wurtemburg has been authorised
t? Contract a loan of 18,000,000 florins for the con-
,",r9etion of new railways. One-half of this loan,
Blrdich bears 4i per cent. interest, has been emitted
, Messrs. Rothschild and Sons, of Frankfort, at
4i per cent.
La The Official Gazette of Madrid of Saturday last con-
ds a decree authorising the Minister of Finance to
redeemable
a loan of £2,200,000 sterling, at 6.5 per cent.,
in fifteen years. The loan bas been
arranged for in Paris.
4:110 traffic receipts of the Melbourne and Hobson's
l
United Railway Company for the week ending
e°ary 30, amounts to £2,287, and for the corres.
Ming week of last year to £2,177, showing as
tease of £llO.

BRITIS El FUNDS-CLOSING PRICES
8 OOVERNMENT FUNDS.
Per Gent. Consols
a 130. Account, April"
Neer Cent. Reduced 9li
Isi:W 3 per Cent 92 1i
,19. 2i per Cent. Jan. 1894
4,°• b per Cent. Jan. 1873 —
`4,oUlties, $O yrs, expire sth Jan., 1880 — xd
'tir.,o. for 30 yrs, expire sth April 1885 —
E
;j„,? (Red Sea Televaph), Au,..., 1908 —
-'4oquer Bills, £l,OOO, 2 per Ct.
Do £5OO — pm
1:1Do. £lOO & £2OO -=. pm
U- of England Stock, 41 per Cent Shut
0. A.ccount
k
jgd.INDIAN GOVERNMENT SECURITIES.
la litoc, 10i per Cent., AprillB74
o. Account -
ID°. 5 per Cant. July, 1880
D 0•
4 per Cent., Oct. 1888
iio. Certi ticn tea
bel. Enfaced Paper 4 per Cent B7l
bc). 5 per Cent., Jan. 1872
b°' Si per Cent., May 1879 lOBl
° 5 per Cent., Rup. Deb., 1872 ..... -
Do. do. 1877 —
, 1)°• do. 1889
I)
b • Deb., 5 per Cent., Aug. 1873 ....,.
D 0•
Bonds, 5 per Cent., £l,OOO
0. under
.£l,OOO
Ar FOREIGN FUNDS—CLOSING PRICI S.
4,_Otitine Reublic, 6 per Cent. —
Itrustrian Bonds, 5 per Cent. 1859
elan 5 per Cent —
n 0.3 4i Per Cent., 1859 —
h
-0 do., 1838.,..
Do do., 18'30...., —
b,‘: ~ do., 1863 —
0 per Cent., 1865
'''',' 49c9untlimmiltssommumummus 72 i

ITALLETA, March 17.—The only actual move-
ments in the squadron since our last are the de-
parture, on the 13th inst.,. from Malta of her Ma-
jesty's screw troopship Simoom, Capt. Lethbridge,
for Alexandria, to bring back invalids froin Abys-
sinia ; the departure of her Majesty's screw gun-
boat Wizard, 1, Lieutenant-Commander P. J.
Murray, on the 16th instant, for a cruise in the
Malta Channel, for target practice and other exer-
cise ; and the arrival this morning, from Palermo
and Messina, of her Majesty's ironclad sloop Enter-
, prise, 4, Commander Bosanquet. The Wizard will
probably visit Syracuse, and will return here on the
21st instant. The Enterprise is to proceed to the
Piraeus as soon as ready for sea, which it is ex-
pected will be about the 23d instant, to relieve the
Lord Warden ironclad, ordered back to Malta.
Her Majesty's screw frigates Endymion anfl
Arethusa will leave for a cruise on the 21st instant.
The former is to visit Naples, and possibly the
Arethusa may also call there. This latter vessel
is now perfectly healthy, there not
_having
been a single case of sickness among
her crew since they were landed last Mon-
day fortnight, and they are to go back to her
to-morrow. Rear-Admiral Kellett will go to Naples
in the Endymion on I.3ave for the benefit of his
health. Iler Majesty's screw sloop Racer, 11,
Commander L. Brine, at present on service in con-
nection with the Malta and Alexandria Telegraph,
will be recalled as soon as communication can be
had with her, orders having been received to send
her to England. The telegraph line continues in-
terrupted, and it is quite uncertain when communi-
cation will be restored, as the defects have been
found even more numerous than anticipated, and
the Hawk steamer will have to return to Malta for
coals before anything more can be done. Her Ma-
jesty's screw sloop Cruiser, 5, Commander Morgan
Linger, which was at Alexandria on the 24th of
February, has returned to the coast of Syria. Her
Majesty's paddlewheel, steamvessel Antelope, Lieut.-
Commander James Buchanan, has been ordered
from the West Coast of Africa to Malta. Lieut.
Charles J. Balfour has been appointed temporarily
to command the despatch vessel Psyche, during the
absence of Sir Francis Blackwood, sick in hospital.
The Swedish screw corvett.! Gefle, 8 guns, Capt.
Rosengrcn, arrived at Malta on the afternoon of
the 13th inst., from Smyrna; she will probably
leave to-morrow for Naples, to return here in April.
The Prussian screw corvette Medusa, 17, Capt. M.
Struben, bearing the flag of the North German
Confederation, arrived hero on the 16th inst., six
days from Alexandria. There was a heavy fall of
rain on the night of the 13th inst., which continued
without intermission for 12 hours. The pluvi-
ameters showed its depth to be nearly three inches
—more, it is said, than has fallen in so short a
period for many years.
The company of the 51st Regiment which has
been stationed at Hampton Court for some time
past is ordered to join the head-qtrarters of the
corps at Aldershot this day.

The Philomel and Ringdove, twin screw (uuar-
moured, wooden) gun vessels, each of 664 tons
measurement and 160-horse power, nominal, of
engines, recently launched from the dockyards of
Woolwich and Portsmouth, have just made their
official trials of speed over the measured mile on the
completion of their outfit and preparatory to their
commission for foreign service. Both vessels have
been built from designs prepared under the direc-
tion of the Chief Constructor of the Navy, and
both have been fitted with their machinery by
Messrs. Maudslay, Sons, and Co. Thsy are of the
ordinary direct action pattern, as supplied by the
firm to the ships of her Majesty's navy, their cylin-
ders having a diameter of 32in. and a length of
stroke of 18in. The engines of the Philomel drive
a pair of two-bladed screws, each of Bft. Gin. dia-
meter and with a pitch of 12ft. Tin. The Ring-
dove's engines drive a pair of three-bladed
screws, each of Bft. 6in. diameter, and with a
pitch of 11ft. 9in. The Philomel made her trial
over the measured mile off the Maplin ',Sands,
drawing 10ft. sin. of water at her stern and
9ft. 4in. forward. Six runs over the mile, with
full boiler power, gave the ship a mean rate of speed
of 10.861 knots per hour ; and four runs made with
half-boiler power gave her a mean rate of speed of
9.391 knots per hour. With full boiler power the
diagrams taken gave the engines as indicated power
of 968 horse, and with half-boiler power an indi-
cated power of 452 horse. The trial of the Ring-
dove, which was made over the measured mile in
Stokes Bay on Friday last, was attended with less
favourable conditions of weather than that of her
sister vessel, the wind blowing at a force of from
four to five, with sufficient water disturbance to
produce a damaging effect upon the speed of so
small a ship. Her draught of water was 9ft. 10in.
at the stern, and Bft. Gin. forward. Six runs over
the measured mile with full boiler power gave the
ship a mean rate of speed of 10.632 knots, and four
runs made with half boiler power a mean rate of
8.145 knots per hour. The engines of both ships are
highly finished specimens of engineering work. Mr.
11. C. Maudslay and Mr. Warriner represented the
manufacturers on the trials.

eIt&FERIGNUE SIA.RES.
North'Eastern, York, 11. and Selby purchase, 101
North Eastern, West Hartlepool Harbour and Rail,. 821

•tiE.4I,:II.I4:NCZ Stleatit, AND STOCKS
treat Eastern 4i per cent.,
Ditto, 5 per cent., 1864 Gil
LIIES LEASED AT FIXED RENTALS.
Buckinghamshire, 93

0'01{14:1GN ItA.CLWAYIk.
;tablas and San Francisco, 11,n., gua.,7perlicent., 15
San Paulo, llin., uua. 6 per cent.,l7l

FOUEIGN 1111/1/03.
Anglo Brazilian Gold, 1
redr., Nunik Del Rey, 2
Hosea Grande, par

BANE

Agra, Lim., A, 101
Alliance, 'tin., 1;i 1
City, 121
Consolidated, lim., 4a
English, aouwell, and Australian Chartered, in
London and Brazilian, lim., 12
Loudon and County. 511
London and %b estmlnster, 6EI
Midland Bank, Lim.. Dili
RISCHLLELNZOUB;
Anglo American Telegraph, 22;
Atlantic Telegraph, 52 a
Ditto, S per cent 101 i
Gen. Credit and Discount, Um., 6*
Lludson's Bay, 141
Madras Irr.gatien and Canal (guaranteed 5 per cert. by
Governmant), 103 a
Ifillwaalleieehold Land and Dock. 38,1
National Discount uompauy. I.'l 11
Peninsula and Oriental atea►u. 59.
Rio de Janeiro City Improvements. 161
Telegraph Construct. and Maiateuanee, 131
United Kingdom Tel. graph Co., Bin., 21
Viceroy of Egypt 7 per cent. (Mortgage) Loan, 74

Foreign Mail Packet List,

MAILS DUE.
&natralla and New Zealand. via Southampton—.
Ditto, via Haredllea
Ditto, via Panama .......

.March 23
—April 19.
. March 3)
.April 6.
March
.April 6.
—.March 29
.. March 28.
~ April 5.
..April 6.
. March 28
Mardi 24
~ March 28
.March 25
.March 2)

Brazil, 13aencs Ayn.,33, and Monte Vtdeo
Ditto, by F'renoh paokot
Cape Verde, by Brazil packet .......
Cape of Good /Tope. Ascension. and St. tielena...
China, Penang, and Singapore, via Sour hamp ton
Ditto, via Marseilles
Falkland Islands
Gibraltar, via Southampton
India, via Southampton

Ditto, via Marseilles
Malta, Egypt, Sta.
Ditto, Marseilles
Mauritius, Cape of Good Hope, and Natal, via
Southampton
AlarEellies . April 18
Newfoundland
Portugal April 6
Ditto, by p rivi te ship to Oporto ...
Ditto Ditto to Lisbon

HOUSE OF LORDS—LAST EVENING.
The LORD CHANCELLOR took his slat on the Woolsack
at five o'clock.

BANKRUPTCY ACT REFORM BILLS.

The LORD CHANCELLOR said that he would now
go into a detail of th• nature of these bills, which it was
not convenient to do when first introduced. He would
remind their lordships that the last consolidated measure
in bankruptcy was in 1849, and no alteration took place
until 1859. His noble and learned friend, then Lord
Chancellor, who introduced the bill of 1859, added to it
four extremely important measures. One was the total
abolition of imprisonment for debt. It made also a dis-
tinction between trader and non-trader. It regulated the
proceedings of trustees, and also provided for composi-
tion With creditors. In 1861 another bill was
introduced, which provided very similar dis-
tinctions. (Hear.) It was found, however, that
there was some inconvenience iu the working of this bill,
and sonic dissatisfaction was expressed. A select com-
mittee was appointed, which sat during the years 18Gt-65.
In the latter that committee reported their opinion as to the
alteration in the bankruptcy laws in 32 clauses, and with
the exception of one or two clauses his bills were .imilar.
His act was a consolidated one, and when they were
drawn any one having them in his hand would
know what was the whole of the bank-
ruFtcy laws. He would go through the different points
which he wished their lordships to adopt. The first was
the question of imprisonment for debt. Of course they
knew that after judgment execution could be taken, and
the debtor might be taken into. custody. Under the
Lew bill they proposed to abolish imprisonment
for debt altogether, that is to say, at the
option of the creditor. Their lordships would then ask
what they would provide instead of imprisonment for debt
after judgment. They proposed that he should be required
to give security, like an absconding debtor, or be put into
prison in default of doing so. Ile- would then resort to
the Court of Bankruptcy. Of course there would remain,
finally, the imprisonment from County Courts
This brought him to the system of imprisonment from
these courts. He proposed that no committal should be
made in any County Court except by the Judge himself,
and then only in open court, and that every County Court
should make an annual return to Parliament of the num-
ber of persons so committed. Individually ho would be
glad to see imprisonment for debt abolished, but at pre-
sent it would be difficult to abolish it all at once, though
he thought the course ho recommended would lead to a
reduction of the hardship. His lordship then went on to
point out the provisions of his bill as regarded persons
made bankrupt on their own petition, and the checks
which he proposed to impose on this increasing practice,
and also the grounds on which lie would give the Court
the right to suspend the order of discharge in certain
cases. He proposed no new courts nor new Judges; but
oa the contrary, that the district courts should be ab-
sorbed and closed as each Commissioner died.

Lord WESTBURY, like the Lord Chancellor, dwelt
most strongly upon the evils and inconsistencies of the
present law, and pointed out the frauds which wore almost
openly committed under it. If a really competent tribunal
was erected' under the new acts, the frauds and plunder
now complained of would bo prevented, and confidence in
the administration of bankruptcy would be restored, for
creditors would feel some assurance of receiving what an
e3tato was capable of producing without being subject to
the present enormous deductions.
Lord CHELMSFORD, after coinciding with the pre-
vious speakers as to the great difficulties which lay in the
way of satisfactory legislation on this subject, gave a gene-
ral support to the principles of the bills, and agreed, as had
been suggested, that they should be referred to a select
committee, where they might receive the consideration of
noble and learned lords who had devoted special attention
to the subject, and who would put the measure in the beat
possible shape.

Lord ROMILLY thought the bill seemed to go in the
right direction, but did so very timidly. Ile agreed in all
the condemnations that had been passed on the present
state of the law, but was still not at all sanguine about the
success of this bill, and could not help thinking that the
Lord Chancellor was right when he said his bill would
probably not be found quite satisfactory. If the bill came
before tho, house from a select committee, he would pro-
pose several amendments in it whicb, in his opinion, were
required to place the measure on a proper basis.

The LORD CHANCELLOR, in reply, very briefly de-
fended the pi incipal clauses of the bill, and said that the
chief evils of the existing system of bankruptcy wero too
much official interference and too great expense. In that
sentence all tho defects of the law of bankruptcy were
comprised, and the best way was to make the creditors
themselves the masters of the estate, through the inter-
vention of a trustee appointed by themselves.

The bills wore then read a second timo, and their lord
ships adjourned.

HOUSE OF COMMONS—LAST EVENING.
THE ARMY ESTIMATES.
The house then went into committee of supply, and
Sir J. PAKINGTON rose to move the army estimates.
The gross total required for effective and non-effective
services wa5£15,455,400 against £14,388,0001a5t year. The
right hon. gentleman proceeded to refer to the different items
making up the above totals, and remarked that, wi h re-
spect to recruiting, it wai at present progressing most
satisfactorily. There was a matter which ho hoped soon
to see abolished, and that was the scenes that were now so
familiar at public houses, a matter altogether most objec-
tionabl'o. (Hear, hear.) He was glad to say that General
Edwards, the Chief of the Recruiting Department, also was
of opinion that the using of public-houses for such a pur-
pose was altogether most objectionable, and it was pro-
posed to form recruiting depots in all the large
towns in the country. (Hear, hear.) They had at pre-
sent two of those depots—one in London and the other in
Bristol, both of which had worked so satisfac-
torily, and an extension of the system could
not but be considered beneficial both for the
country and the recruit. (Hoar, hear.) in the militia
there was an increase of £Bl,OOO, but this was produced
by the receipt of allowing lodging money to officers.
The case of the Quartermasters had also been con-
sidered with respect to the same subject, and it had
been determined to increase the amount given to
them as lodging money, viz., 10s. to 14s. per week. He
also proposed to carry out the arrangement made by his
gallant friend ho member for Huntingdon (General Peel)
of forming the militia into a reserve force of 30,000
men, ready at any emergency to join the regular
army, and General Lindsay had been appointed
to the command of that reserve force. Tho hon. gentle-
man then wont on to refer to the charge of the volunteers,
which he said amounted in ,the present year to
£385,150, an increase of £24,150, and he expressed his
regret that he was unable to increase the capitulation
grant. In the number of men there was a slight decrease
—from 137,245 to 136,650—and there were slight increases
in the clothing and barrack votes. On the Hospital vote
there was also an apparent increase of about £105,000-
caused by the transfer of the medical officers from one vote
to another. Sir John next explained his reasons for not
agreeing entirely in the report of the committee on retire-
ment in the Artillery and Engineers, and he congratulated
General Peel on the unqualified success of the change he
had made in the recruiting system, which was shown by
the large number of re-engagements, the unusually small
discrepancy between the actual establishment and the
numbers voted, and the improvement in the class of re-
cruits. He stated, too, his intention of carrying out some
of the recommendations of the recruiting commission as
to military schools. Passing to the Reserve Forces, Sir
John stated that in the Militia Vote there was an
increase of a little over £Bl,OOO, caused by an
increase in the number of men and by the allow-
ance of lodging money to the quartermasters. In the
, Volunteer vote there was also an increase of £24,150, the
capitation grant having risen from £205,500 to £228,235 ;
while the cfficients had risen from 115,427 to 124,605, and
the extra-efficients from 78,280 to 90,515. He canvassed
the claim of the Volunteer officers for an increase in the
capitation grant—justifying his refusal—and announced
his intention to place the Militia, Volunteers, and Reserve
forces generally under the command of one officer, Gen.
Lindsay. On the votes for stores and supplies, he explained
apparent, arising from a trans-
that the increase was chiefly
fer of charge. It was proposed to convert this year
160,000 Enfolds to Snider; against 210,000 last year, at a
cost of £159,604, and this would exhaust the Enfields
available for conversion. With regard to the arm of
the future, Si John mentioned that no decision
had yet been come to, but Lord Spencer's sub-
committee was inquiring into it, and he expressed
a strong belief that no country possessed a better
arm than the Snider. Pointing out that it would be ne-
cessary immediately to undertake considerable expense for
arming the fortifications which we had already built in
different parts of the world, he announced his intention to
place the manufacturing establishments at Woolwich
under the control of a commandant, and in the concluding
part of hisspeeoh he canvassed at length the recommenda-
tions of Lord Strathnairn's Committee on Army Admini-
stration, and explained what be intended to do towards
carrying them out. Sir 11. Storks and General Balfour
had been added to the War- office, and they had already
drawn up plans for improving the external control of the
War Department and the ;system of audit, which would
lead to a considerable saving. They were also prepared
to recommend changes in the Transport Service, which
would give us a most complete system.
Tho Marquis of HARTINGTON complained of the
continuous tendency of the Army Estimates to increase
under the present Government, and contrasted it with the
decrease effected by the late Government. As to the plan
for reorganising the administration of the army, it would
require very close investigation, and he deprecated a pre-
mature discussion of it.
General PEEL pointed out that for our increased ex-
penditure we had got a vastly improved system of recruit-
ing, and had armed our troops with breech-loaders. The
usual desultory conversation followed, embracing all the
points touched on in Sir J. Pakington's speech. Towards
-the dot of it Dix. OtYfel Mined to reduce the totes inll3l-