Star.
London, England, 1825-03-01 00:00:00

HOUSE OF COMMONS.

A Call of the House having been ordered for this slay, the gal-
lery was not opened to strangers till a quarter past six o'clock.
Sir W. CURTIS presented a Petition from the Ward of Port-
**ken, for a repeal of the Assessed Taxes.
WELSH IRON MININO COMPANY.
On the motion for the second reading of this Bill,
Mr. P. GRENFELL said, if it were a fact that delu-
sion to a certain extent prevailed among the public with respect to
some of the New Companies, he thought the sanction of an Act of
Parliament was calculated to strengthen that delusion. The
present was one instance where, in his opinion, the House ought to
investigate the foundation of the speculation before it was approved
of.--The Bill was then read a second time.
On the m‘stron that it be committed,
Mr. HUSKISSON was sorry to acknowledge, that
at the very time when Parliament had put down the Lottery, the
formation of many of these new Companies seemed productive of a
still worse species of gambling. He believed, however, if all the
subscribers had not paid up the sums affixed to their names before
the Bills proceeded to another 'place (the House of Lords) they
would find great difficulty in having them passed. The standing
orders of the place be alluded to, imposed that restriction mi
such Bills.
Mr. HOBHOUSE was glad to hear that some re-
straint was placed upon the present rage for speculation,
for lie could prove to the House, that, in one or two
instances, Companies had been got up without any real
pretext for their formation. One he should not hesi-
tate to mention, namely, the Pasco Peruvian Mining
Association, which he believed had no foundation whatever to pro-
cettl on, beyond what it possessed on the Stock Exchange.
Mr. BARING thought it impolitic that whatever
trash in the way of speculation might be brought into
that House, should be allowed to pass on the mere hope
that it would be examined in another place. The
House did not do its duty in suffering Private Bills of
the nature in question to receive its assent without
examining them ; and he thought his Right Hon. Friend
opposite (Mr. Huskisson) would do well to take the
subject, into his consideration. They had heard that a
Learned Lord in the other House of Parliament had intended to
introduce a Bill, a bubble Bill, to tegulate the proceedings of Joint
Stock Companies; but whether that intention remained, or was
surrendered, was unknown at present.
Mr. lIUSKISSON denied that, in his official capa-
city, as President of the Board of Trade, the duty de-
volved on him, of judging of all such Private Bills as
were referred to. It was not his business to enter into
the merits or demerits of public speculations, but he
had no hesitation in saying again, notwithstanding, as
he befog stated last Session, that he should oppose any
measure which went to limit the pecuniary liability of the parties
concerned in it. When this was not the case, he saw no objection
to the House granting a right to Companies to sue and be sued as
Corporation;.

11UME should be sorry to, see a rule laid down
for the guidance of the House respecting these Com-
panies. Parliament could not judge what was or was
not a good undertaking. When the Bill for erecting
"Watt!, 100 Midge was introduced into that House, what
would have been thought if a notice had been posted
tip stating that the speculation was a bad one? and
yet none of the objects of the present Companies could
prove more delusive to the subscribers than Waterloo Bridge now
turned out. All that Parliament ought to do in these matters was
to give such facilities as were in its power, that parties might sue
and be sued in their joint capaci:y.—Mr. BAILING explained.
Sir C. MORGAN presented a Petition from Monmouthshire,
ptaying a repeal of the Douse Duty. Similar Petitions were also
presented by Mr. C. Duunas, from Warringford; by Mr. Loci-
HART, front the Parish of St. Edmunds, Oxfordshire ; by Mf. New-
MAN, from tile iobabitants of Bethnal Greets ; and by
Mr. 110BHOUSE from the Parish of St. Martin's