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

CAMBRIDGE ELECTION.

An address for a commission to inquire into corrupt
practices in the borough of Cambridge, was agreed to.

THE IRISH FUNDS.

Mr. G. H. MooRE moved a resolution, that it it the
duty of the Government forthwith to take into considera-
tion the Irish Consolidated Annuities, in order to effect
an equitable settlement of the claims for which, they were
granted, by remitting the amount charged on account of
the Labour-rate Acts, while the repayment of the work-
house loans, the advance for temporary relief, the ad-
vances for public works, and for aid to the distressed dis-
tricts, under the several acts, were fully provided for.—
Mr. GLADSTONE said that Mr. Moore had failed to
make good his case on the score of justice, and he (Mr.
GLADSTONE) should say no more upon the subject until
he made his financial statement, when he should state the
views of the Goverment upon this question, in connexion
with the general taxation of the country —After some
discussion, the motion was negatived by 145. to 07, and the
House adjourned.
FRIDAY, APRIL 8.
KNARESBOROUbrII ELECTION.
Mr. COBDEN presented a petition complaining 9f an
arrangement having been made as to the three candidates
who had been returned, so. as to avoid an inquiry.

•
REDUCTION OF THE NATIONAL DEBT.
The Speaker left the chair, and the house went in to
committee upon the National Debt Acts ; and, on the
motion of Lord J. ilvssELL, Mr. Bouverie took the chair,
Mr. W. Patten having, on a former evening, resigned.—
The CHANCELLOR of the EXCHEQUER then proceeded to
explain the nature of the propositions he had to make,
observing that, in the opinion of Government, they would
lay a foundation for future reductions in the burthen of
the national debt. He asked the house to place confidence
in the Government in their attempts to deal with this vast
and complicated subject ; and he was anxious that the
operations should take effect immediately. The plan was
divided into three portions. The first dealt with minor
stock chiefly. The debt due to the South Sea Company,
which amounted in the whole to £9,500,000, and with
respect to which it was proposed to undertake a compul-
sory operation ; and if the holders did not accept the
alternatives offered to them, they should be paid off,
leaving balances now at the command of the Government.
This might be considered a safe operation ; while the plan
for commuting those stocks would effect a moderate reduc-
tion upon the rate of interest amounting to a quarter per
cent., which would represent an annual reduction of
£25,000. The second portion of the plan related to the
issue of exchequer bonds : and the third to the voluntary
commutation of the three per cent.stocks, representing a
capital of five hundred thousand million of pounds ; both
these plans had one ultimate object, to lay the foundation
of a permanent system of irredeemable public debt, bear-
ing 21 per cent. interest. The exchequer bonds which he
proposed to issue would have these characteristics, they
would be transferable by simple delivery and without
coat; that they :amid bear interot fint at 011@rate of 4?,155 I