The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1846-01-27 00:00:00

THE LIVERPOOL STANDARD.

HOUSE OF COMMONS.-FRIDAY.

Lord J. RUSSELL reminded the Chancellor of the Ex-
chequer that the time was nearly at hand when the rail-
way deposits must be paid into the Bank of England.
Last year these deposits amounted to three millions, and
this year it was expected they.would amount to nine mil-
lions, a large sum to be withdrawn from circulation. He
wished to know whether it was the intention of the go-
vernment to bring in a bill to alter the existing law upon
the subject, or whether they were convinced that no in-
convenience would result from the maintenance of the law
as it existed ?
The CHANCELLOR of the EXCHEQUER said that an
application was made to him in November last to so far
alter the law as to allow of the deposit of the stock, India
bonds, bills of exchange, and other valuable securities,
instead of cash. He would not assent to the proposition,
nor could he hold out any hope of recommending an al-
teration in the standing orders, having reason to believe
that the apprehensions on the subject were not founded
in fact, and that they were greatly exaggerated.
Mr. MANGLES and Mr. MASTERMAN expressed their
opinions that a severe pressure would be felt in the mo-
ney market in the course of the next fortnight.
Lord FRANCIS EGERTON brought up the report on the
address, which was read a first time. On the motion for
its second reading—
Mr. COLQUHOUN made some observations on the
course pursued by Sir Robert Peel, in abandoning the
principles upon which he had originally obtained office.
The agriculturists had a right to complain of his present
policy. Hon. gentlemen on the other side of the house
might deem him (Mr. Colquhoun), and those who acted
with him, as bigotted in religion and fanatical in their
ideas of protection ; and they had a right to entertain
that opinion, while he had a right to stand by his
own ; but the right hon. baronet having agreed with the
protectionists, having obtained power on their principles,
should have appealed to the country before attempting to
act upon those which he had, recently embraced. He
challenged the treasury benchei to say that the right bon,
bart. had not stranded every great principle of which he
had at any time been the champion ; and be would pre-
dict for Tuesday next, that he would address the house
with a world of mystification; with compensation here,
with change there, but still having but one card to play—
repeal of the corn laws. The hon. and learned gentleman
proceeded at considerable length, in the same strain, to
condemn the policy of the right hon. baronet, admitting,
however, that his financial measures were conceived and
carried out with great wisdom, with great prudence, and
great success.
Mr. Hurisz wished to know what Sir R. Peel's former

course had to do with the wisdom and propriety of his
present measures ? He, for his own part, highly approved
of the course pursued by the right hon. baronet, who had
the manliness to declare that he had for years been wrong,
but that he was now ready to give the country every re-
compense in his power for the error he had fallen into, by
doing that which ought to have been done before. He
would feel very happy if the result of all this should be
that the business of the country should be henceforth car-
ried on upon the principle of benefitting, not a particular
party, but the whole country. He approved of the speech
of her Majesty generally, but the best paragraph it con.
tained was that recommending an increase in the army
and navy (hear, hear) ; for, when he saw a country for-
getting all the ordinary principles which should govern
its conduct towards other states, he thought it was but
right that those states should be prepared at any sacrifice
to maintain their own honour and integrity.
Sir R. PEEL regretted that the contrast between what
had on a former occasion been said that in that house, and
the language of the chief magistrate of the United States,
should be so great as to lead to the inference that the for-
mer should have been mistaken. The English House of
Commons would feel no hesitation in saying that every
effort, consistent with the honour of the country, should
be made to settle this question of the Oregon territory
peacefully. The speech of the hon. member for Mon-
trose, the strictest advocate for economy in that house,
convinced him that any proposal which the government
might make for the maintenance of the honour and inter-
ests of the country would be readily agreed to ; but at the
same time they would not disguise the fact that they would
consider such a necessity the greatest misfortune which
could befall the country. With respect to the attacks
which had been made upon himself personally, he would
only say that he would not suffer them to ruffle his tem-
per. The subject to be discussed was far too important
to be disposed of by a system of recrimination. The right
hon. baronet then repeated many of the circumstances
which he had narrated on the previous evening, respecting
the recent changes; and while defending the course he
bad pursued, said he was in no way responsible for the
causes which prevented his successor from forming a mi-
nistry. The hon. member for Newcastle-under-Lyne
had said that his financial measures were carried out with
great wisdom, prudence, and success. If so, was not that
a proof that they might carry them still farther? But
however this might be, he could understand how some hon.
members might have the right to say he had abandoned
them but of all men, the last that ought to have done
so should have been the hon. member who, in 1838, had
supported the annual motion of Mr. Villiers in opposition
to Lord John Russell and himself (Sir R. Peel). An in-
advertent expression which had fallen from him on the
previous night had been laid hold of and misrepresented.
He alluded to the words " proud aristocracy." He must
be permitted to say that he used the words in the heat of
debate, and the word " proud" he only meant as convey-
ing the idea of a body having attributes and qualities of
which they might well and justly feel proud. He could
wish that in the heat of debate there could be time to
weigh every word ; but as that was impossible, it was
scarcely fair to fasten upon an expression for the purpose
of misrepresentation. (Cheers.) He would forget the
bitterness of the hon. gentleman's speech in consideration
of the personal compliments he had paid him for his wis-
dom, and prudence, and success, and he would not allow
his temper to be disturbed by any future references to
personal inconsistencies.
Lord J. RUSSELL asked if the government proposed to
lay upon the table any papers illustrative of the reasons
for interference in the war in Rio Grande. He also
wished particularly to know the exact position of the
Oregon question.
Sir R. PEEL said he was not at the moment prepared to
answer the first question. With respect to the present
position of the Oregon question, this country had again
repeated its former offer of referring the matter to arbi-
tration, but to that offer an answer had not yet been re-
ceived. . .

Sir R. Nous said that few persons could feel more
strongly than he did the importance of preserving peace,
but yet he was happy that the observations of Mr. Hume
bad been received with such cheering from both sides of
the house.
The O'CONOR DON approved of the references to the
state of Ireland contained in the speech ; but he hoped
the right hon. baronet would turn his attention to intro-
ducing some measure calculated to place upon a better
footing the relations of landlord and tenant.
Mr. BANKES approved of the financial measures of the
right hon. baronet, and gave him great credit for the pros-
perity which had followed them ; bu. there was no reason
why they should follow him in the course to which
they believed there was a limit. Under the circumstances
the right hon. baronet should have appealed to the coun-
try, and in that case the agriculturists would have been
prepared to abide by the decision, if the appeal were made
in a legitimate manner.
Mr. S. CRAWFORD bore testimony to the extent of the
failure of the potato crop, and believed the scarcity would
be severely felt in the course of a few weeks.
The report was then agreed to.