The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-05-04 00:00:00

1 of the safet

his was wi
Iwithac

wing of enquiry

ever the Government mi

;ht fee

Sir G. Gr

1. He was r
d, and the ap

and Mr. Corry follow(

children employed in factories, e:
o remove by a bill ; and as regal
Lnery, that subject had been ref

),000 in

LL then moved ti

Ur. Ito

d the moti

ything, yet he u

LLOR of the EXCHEQUER complained of
the course adopted by the honourable and learned gentle-
man, and hoped the house would proceed according to its
established rules, and, by going into committee of supply,

,d hideous bankruptcy

that the hous

ed the cas-
med to the
Lereon. In
mronet re-

to appoint a

Te, instead

The Cr

a the business to proceed._ .
le house then divided, when Mr. Roebuck's motion
negatived by a majority of 189, the numbers being

14 to 21

ch wa

The hot
of the E 3

A the r

It of ti

then went into committee, the CHANCELLOR

CHEQUER proceeding to make a further st

ment in reference to the vote proposed. In the course of
his observations, the honourable baronet observed, with
ie money market, that
ing Act, but to the ne-

pressure in t
to the Barg

glect of the princlpleon which that act was founded. He
was happy to say that, since the last published accounts,
the state of the Bank of England had materially improved,
the result being that on two occasions during the last
week, it had been enabled to afford increased facilities to

the money market

and the deputations which he had
seen respecting the distressed state of things in the north
of England, felt more 'satisfied and at ease than they did
three days ago. In consequence of the efforts of the Bank
of England, he believed that the extreme pressure might
be said to be removed. With regard to the rise which
had taken place in the funds, that might be owing to the
unforeseen intelligence received in the city that day from

St. Petersburg, the truth of which there seemed to be
little reason to doubt. The right hon. baronet then pro-
ceeded to explain that the grant would be covered to the
extent of £500,000 by the government's relinquishment
of the Irish Waste Lands Improvement Bill ; then refer-
red to the prosperous condition of the crops in various

parts of Ireland, and concluded by detailing the mode in,
and the objects on, which it was proposed the grant should
be conferred.

Mr. GOULBURN expressed the pleasure he felt, in com-
mon with the house, at the announcement made by the
Chancellor of the Exchequer, that the panic which had
prevailed in the money market was subsiding, and that the
Bank, having acted with less caution than was requisite,
was again placed in a situation to afford relief to those who
had suffered from the laxity of their regulations in the first
instance, and from their too precipitate contraction after-
wards. The right hon. gentleman proceeded to show that
the proposed advance would be an act of favouritism to
one line of railway, by giving it an advantage over another,
which was not consistent with justice, or with the ordinary
course of such dealings. With regard to the financial state
of the country, if any misfortune should take place before
January next, they might by that period anticipate a diffi-
culty far greater than that under which the country now
laboured ; because the demands made by the government
for loans from the Bank would entirely prevent that estab-
lishment from extending accommodation to the mercantile
community. Mr. F. French, Mr. M. Gore, Mr. W. Collett,
Mr. Cayley, Mr. Chaplin, Sir William Clay, Mr. Osborne,
Mr. Muntz, and Mr. M. J. O'Connell followed ; when
Sir ROBERT PEEL rose, who defended the Bank Restric-
ktn Act—condemned in some degree the course pursued
the Bank—disapproved of the favouritism which the
proposed disposition of the grant was calculated to produce:

expressing his intention o:

voting ag

government

Lard J. RUSSELL said the measures of precaution taken
by the Bank had had_the effect of sawing the country much

uture

istress ; and d

ie grant on t

he grounc

it was necessary to adopt a variety of measures with the
view of even partially relieving the distress of Ireland ; and
he could not conceive that a wiser course could be pursued,
than that the act of 1844 should have its legitimate opera-
tion.

Mr. HUME opposed, and Lord G. BENTINCK supported,
the motion ; after which the committee divided, when the
grant was carried by a majority of 133, the numbers being
208 to 75.