The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1853-04-12 00:00:00

per share fora time to be hereafter named, and subse-
quently at the rate of £2. 108. per cent. ; that, after 1894,
they should be redeemable; and, lastly, that these bona
should not exceed £30.000,000 in amount. The bona
would be exchangeable with exchequer bills, from which
lie anticipated paying the reduced rate of interest. Exche*
quer bonds might be sold by government, and the pro-,
ceeds invested in the purchase of stock, for the purpose et
cancelling it ; and there were various reasons for expecting
that these would prove a popular security. The next
point was the voluntary conversion of the three per cent.
stock at any time between the passing of the act and the
10:11 of October next to exchange them into exchequer
bonds at par, or into a new 31 per cent. stock, at the rate
of £B2 10s. of the latter for every £lOO of the former,
which would give a permanent income of £2 17e. q"
instead of £3 ; or it would be open to them to take, for
every £lOO stock, £llO of a 21 per cent. stock guaranteed
for forty years. But it was intended to limit the extent?f
this option. The objection to the last alternative was that,
in order to reduce the annual charge of the debt, the
capital or principal would be increased; but Mr. Glen'
stone argued that, taking the creation of this stock in con'
junction with that of the 31 per cent. stock, posteritl
would suffer no disadvantage. On the contrary, posterity
would enjoy a reduction of the annual charge for the debt'
By the original draft of the resolutions it was left to the
option of all the holders of the great three per cent. stocks
to exchange into the new 21 per cent. stock. This might
have entailed an increase of the nominal capital of the
debt to the extent of £50,000,000, and he did not thin:
the risk of so large an increase should be incurred. It
was intended, therefore, to limit the amount of three Per
cent. stock to be commuted to £30,00d,000, according to
priority, the holders of three per cent. stock having still,
however, the option of exchanging it for 31 per cents. of
exchequer bonds. The utmost nominal addition that,
could be made to the capital of the national debt would
consequently be something more than £3,000,000•;"
In the course of the discussion which ensued, 1Y:
Alderman THOMPSON said he had never heard so bold
proposition for the reduction of the national debt. P 4
approved of parts of the scheme; but he thought it ()WA
not to be further proceeded with until the house bad 0,1;
time to consider the resolutions.—Sir F. KELLY thought
that the three proposals for the conversion of the three,
per cent, stock amounted to nothing at all.—Mr. Wleso
argued that the whole thing took the shape of an annuity:
as the holder could only demand payment of his stock at
the end of forty years; while the government alone could
propose the repayment at any intermediate period.--01'
DxsrtAnni complained of the alterations which the Chen'
cellor of the Exchequer had made that day in his scheme'
which now only dealt with thirty millions, instead of fib
hundred millions of the three per cents. The whole oil'
ject of the resolution was to invest a two and a half pet
cent. stock. The plan did not propose to do much, tied
he believed it would do less than it proposed ; and 131
must say that a vast amount of ingenuity had been wasted
upon a measure of very limited utility. The resolutions
were then agreed to.
THE SIX-MILE BRIDGE A7FAIR.—A resolution Inwiej
by Lord A. VANE, to the effect that the exposition of the
law set forth by Mr. Justice Perrin, in his charge to the,
grand jury of the county of Clare, with reference to tli°,
duties of soldiers employed in the suppression of riots,
at variance with the opinions of former judges, opP9ec
to rules of military act and civil forces, and antagonistic
to the principles and orders of the Mutiny Act, and t,1),e5
Queen's regulation; and that it is the opinion of 01,
house that the conduct of the soldiers employed at or
Six-mile Bridge was thoroughly justifiable, and necesel;
fated by the position they were placed in, was, 55e
smae discussion, withdrawn.

TRIAL. TRIP OF THE STEAMER " HOW'
•o•
A trial trip of the African Mail Steam Company's shi!
Hope, recently launched from the building yard of 3.,"'
John Laird, at Birkenhead, was made on SaturdaYa
through the new channel, beyond the Bell-buoy, all
realised the most sanguine anticipations.
The Hope is the third of the African Steamship Cora.:
pany's vessels that has been built and fitted out at tbl'
port. She :s a sister vessel to the Faith, Captain Parsons'
is 922 tons, builder's measurement, and has direct-acriaf
engines, of ZOO horse-power, by Messrs. Geo. Forresteu
and Co. The peculiar nature of the service for wh,ie
these vessels are Cdrntended, requiring great capacity, COI
bined with light aught of water, and well-ventilia
berths for passengers, officers, and crew, has been Pr°:
vided for by constructing the vessels of greater beat.;
than usual with screw steam-ships, and the erecting :10f
deck-house eight feet high, almost the whole lens"'
apt
the ship, and fitted with slate-rooms for the offcers
passengers, and a handsome dining-saloon
-%lld el egest
ladies cabin—a plan which for tropical el:diates has g:r'S
advantages over any other. The din
4,g-roorn stews.
n P
i
pantry, and coo department ar- en suite, n f
'd
as near
the centre of the vessel a" possible, which is another
favourable peculiarity it
t.ate arrangements of the HoPel
The Hope, whit. Is commanded t
by Captain W.
has had considerable experience ,n stem
rioceeded on her trip a little before noon; and sßhoipwen, who
cne time the screw-steamer Osmanli was steaming out eer
her passage to Australia. She soon passed the lattot
vessel, which was-deeply laden, and was consequentlkliie
in a condition to compete with her. During the vr!',l3o
of the trip she had more steam than she required,
engineer's pennant" being exhibited throughout the d„a
a'of
Her smart man-of-war appearance made her the objecl
general admiration, owing in a considerable degree to
ri?ow:
neat rig, which has been executed under the supeo
tendence of Captain Henderson, formerly of the barq
Shakspere, of Liverpool.
withlight
She passed the Rock Light at 12 7, p.m.,al, the
flood tide and a stiff head wind against her and ma" at
Crosby Lightship at 12 371, p.m. ; the Fo'rmbr--lig,hte
12 53, p.m.; arm fle Bell-buoy at 1 e
average speed of about twelve miles an hour against tb
wind.

performed•
considerablech
. addition to steam, Mr. Macgregor Laird, the originiter
and principal contractor of the line, entertainedn nurn°,
of gentlemen to an elegant dejeuner, served in the salt:eon
Mr. Macgregor Laird occupied the chair ; Mr. Hornig g
Laird, Captain Birch, R.N., and Mr. Henry, Parson_:
brother of Captain Parsons, of the Faith, filled the vicbe
• chairs ; besides whom were Mr. Hadfield, secretary of "c,
South American Steam Navigation Company ;
ag
Hislop (W. A. G. Maxwell and Co.) ; Mr.. D011,g4,15,
(Stewart and Douglas;) Captain Ward; Mr. Fingu'e;
pwraesssmuroestosfactiansfadyas°sr,,iolinfr
Admiralty engineer; Captain Green, of the South -034
rican steamer now being built at Mr. John Lairds; °PO,
Messrs. Norman, Jackson, F. B. Jones, R. Rayner, Deo
glas Hebson, Sohn Holme (Holme, Slater and Croos;
J. Andrew, John Conway, &c.—The usual loyal tossi'w
having been given from the chair, Mr. CONWAY, in a felf
appropriate observations, gave "Success to .the HoPe't,
—"The Army and Navy," coupled with the name of CO
Birch, having been given from the chair, Mr. HEI4
PARSONS gave The health of the originator of the el,
pany."—Mr.MACGREGORLAIRD, in responding tacko°o4
ledged that he experienced great pride in having origin°
lis3
the African Mail Screw Steam-ship Company, which, b,
trusted, would be of great service to this country in de' 0
loping the trade of the coast of Africa. He had be
criticised by someof his friends for not starting the fine fr°to
Liverpool. He knew, however, that Liverpool was not the
place at which to start a new steam navigation compa°3,
and this was evident in the fact that, out of the 240 shw,il
holders of this company, the only support-they had follg
in Liverpool was one gentleman whose interest rifot
represented. by £lOO. He did not blame Liverpool
oi
this, because its inhabitants had greater opportunitieo f
losing their money. (Laughter.) In London, if 1p
promising speculation was originated, there were plea.,
of rich people ready to employ their money ; but the ine'.o
c a nengrt.
greater.
leeeatLtiaecinrvadeanrdpdvoaponultscommercialawhgianes.g
naturally
thatHactoeumrmtamhl
elguyyinl
couldti
tt,
hyhe oowfgeer mev
aeptrlLiverpool,esyeathpstateoe rtwon:earfoter!
detono
never intended this scheme to apply oxciusively to Lebir
African,trade, four-fifths of which belonged to her. An
getting,in the small edge of the wedge,. he proposed
Liverpool should have a share of the African Mail &rem
Steam. Company's trade. And he was now in a position„pl
state that, on the 10th of October, they would start a vest
from Liverpool, which would be able to carry suffiole.;o
palm oil in her bottom to pay her own expenses, irrespectivie
of the Government contract. The CHAIRMAN next ge.'6l
" The African trade from Liverpool,which had been carried
on with such signal energy and success," coupled vild",
the names of Mr. Douglas and Captain Ward, who brieno,o
returned thanks. The health of Captain Bowen
drunk and duly responded to. "'The Builders of the HoPu
was given by Mr. R. RAYNER, and Mr. W. LAIRD, jilt%
responded. Among the other toasts were " Mr. Baal%
Laird;" "The Ladies;" "The Press," which was respon es„
Messr
to by Mr. BLARE, of the Limn-pool Standard; ~
Forrester and Co. ;" "Mr. Hebson, the chief engineer ;
" The Palm Oil Trade " The Timber Trade," re;
ee
m e
the and
principal they nwl do
sponded to by Mr. JOHN HOLME, &c. In giving "1.0)1
Palm Oil Trade," the CHAIRMAN expressed an opinl
that, in twenty years hence, when commerce had bO
°means of these ste 00
extended to 150 miles in the interior of Africa, the OM
article trade inofveexgpetoarbtlferobmuttAerfr.iwcah.ichßv;
oil trade, great as it now was, would beubsi edetexaecpfimeineeedd eatdtrhitlieslcitlgler!:
r. STEWART,
would
twenty years ago, when the palm trii-0
vessels the coast of Africa was now brought within 040
crease The touelp,eoo,ovoveflet
the trade was stillw
f England,be
# o
sepwexreropevdokeursi'.t—tshamai
in responding to the toss., do
at
5000 ; it was now the2i
oat
,ooniotnos a. gi
infancy, e
Yet
aoenfte
yshh,
eiapnws
deestni
that
tegrieet
persuaded
doi neudii
tvbi
was first opened
order to receive the final inspection, and is expected
went into the half-tide dock yesterdaY,, to
leave the pert this day (Tuesday). tO
The Charity, the fourth steamer of the company, h-#lO3
be launched from Mr. John Laird's building-yard on
23rd. Her engines are rapidly progressing at Messip
Forrester and Co.'s. The Northern Light, the steam-8,%
intended to open the line between this port and the CO
on the 10th of October next, is in a forward state, aleild
side the Charity. She will be 1400 tons registers Iv
calculated to carry 1000 tons weight of palm oil. 0,
Southern Cross and Pleiades, which will be of larger r°,lo
nage, will complete the Liverpool line. It is probe 11•
that the line will be extended to St. Paul de Loanda, cat,
ing at Gaboon, River Congo, Ambrez, and other 10'a
mediate ports, in the course of the ensuing summer-

ANTI-REFORMATION SERVICE BOOKS. An oft OP
is made in certain quarters to reveve the use of Ser''.,4l
books anterior to the Reformation. A new " ComP
to Confession and Communion, translated and arltto
from the Ancient English Offices of Sarum Use,
been published, and it has been laid down that it is to
duty " of clergymen who receive formal confessionlia
adhere to the Sarum Manual, " till some further or
be taken in the matter."—John Bull.
A RUNAWAY " RANTER."—Last Friday
John Bayliss, an itinerant Primitive Methodist preco
and class leader, at Loughborough, absconded withal too
sum of money. On Saturday he was found by ,40
Loughborough ministers at Derby station about tos roos
his " departure to the north," and from thence to his op
in America. The money he had upon him WaS given
to his pursuers, and they and he returned to Loughb9
together the same afternoon. Bayliss had been a primbeell
Methodistmany years, and for several years past 11 hatri
treasurer of " the cause" at Loughborough. Wing
Journal.