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the A <* wm -rekfsed , Sir ^ Robert 5 » eel -stateu that the billiad )* triple-object , tlw » feat < of which—viz ., % o prevent panics—bad foiled . The others ware to maintain the convertibilifiy of paper into gold , and to prevent 6 v « rspeculation by -the facilities afforded by a paper currency- * , * na * n these respects he was of opinion that the ILct iwd sircceeded . The right hon . gentleman then traced the history © f the preseut panic from the 10 th of October to the period of the Government letter , areuioe thatit grew out of the derangement of the AniericaS trade , the disturbances ui Indian ana speculations oh the Contmeat . The issue of the letter to the 'Bank of . England in the present case , -was the spontaneous act of the Government
, and ims not the Jesuit of pressure from ¦ without .- The Government did not seek to- shelter itself Trnderanypretence of bein ^ coerced into that proceeding The Bank had inftinged , the Ax : t of 18 * 4 , to the extent of ten millions . The issue « f the letter had worked Tvell ; it had restored confidence , and not aflfected the convertibility of bank-notes . JBut for this , there must iaye been an immediate cessation of discounts , and post-Tenement of payments to depositors . He did not believe that the Act would be again violated , but it was thought prudent that the Indemnity Bill should extend to a period of twenty-eight days after the meeting of Parliament . Sir G-, G . Lewis concluded by asking the reappointtnent of the Committee on the Bank Acts
_ Mx . Gladstone followed , urging that legislation , snould be imnrediate on the question at issae , and that inquiry should be aonfined to the causes of the late commercial panic , ¦ v ' v . .. ; -- ¦¦ ¦¦¦ ¦ . ¦ " •;;¦ ¦ . . -. ¦ ¦¦ : ¦ :: ' : ¦ . . . ¦ - ¦ ¦¦¦;¦¦ ¦ ... ;¦ ¦¦ : A long debate ensued , in which Mr . Spooler , Mr . Glynn , Mr , v MENtEV , iLord John Russell , ; Mr . Diskaeli ,-and others , took part . __ . The resolutions preparatory to the introduction of th « e Bill were then agreed to , and the House adj ourned at a quarter to twelve .
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THE FIKANCIAL STATE OF THE CONTINI 5 KT . The Seriate and the bourgeoisie ; at Hamburg have decreed , that insolvent merchants , before being declared tankrupti by the Tribunal of Commerce , shall be placed under an admittistratioii nanied by their creditors ^ JL y ast purriber of failures have occurred ; the people axe in consternation . And shipo-wner and general merchant haB committed surcide ow ^ to his embarrassments . .- \_; ^ ; . ;/¦; : /' ' - ; . ; . ;; ; . ; . ¦ •' , ¦ ¦ - ¦¦";¦•;¦ •; ; . ¦¦ ¦ ¦ ¦; ;¦; . }; -.. ¦¦¦ ¦ - ' ' ¦; . In Stockholm , . several failuresof very large amount have taken place . Tlie I > anish Government has advanced five millions of francs as a loan ; Two directors of tbe Copenhagen Bank are to proceed to Hamburg to redeem some of the protested bills .
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AlARRIAGE WITH A DECEASED WIFE ' S SiSXEK . —Mr . Justice Cresswell in the Court of Chancery , yesterday , gave judgment in the case of Brook v . Bro 6 k , which involved the question whether a marriage with a deceased wife's sister contracted at Altona , Denmark , is legal here . Judgment was given against the validity . The Great -Northers . ¦ Railway Fkauds . —rMr . Commissioner Goulburn gave judgment in the Court *> f Bankruptcy , yesterday , on a claim made by the Great Northera Railway Company to prove for a sum of 221 , 070 / . against the estate of the convict Leopold Redpath . His Honour said that in the first place he
should consider whether before the passing of the late Act tlie < Company would ha-ve been entitled to prove against the estate as for a debt due to them by Rqdpath : he was clearly of opinion that they could not . He referred , to the case of Fauntlcroy , but there it was distinctly sworn that the money was had and received to and for the use of Mrs . Fauntleroy . His Honour ultimately said that he considered that the Legislature left the dia . pu . tod clause just where they found it , and it was now sought to do by inforence -what the Legislature might , have done distinctly by declaring it to bo a debt . Ho therefore considered that the proof could not bo admitted .
Archdeacon Dkntson'b Cash . —The Rev . Joseph Ditcher , the promoter of the suit against the Vcn . Archdeacon Deni son , appealed yestCTday in the Judicial Committee of the Privy Council , against the decision of Sir John Dod » on , the Dean of the Court of Arches . The case Trill of course occupy a considerably period . Death op Tjiajn , the Dktkcxivk OFn-lcKn—Thain , tho detective , who was shot tho otlier day by Christian Saltier , died yesterday at Guy's Hospital . Sdspkoted PoiBoaiNa . —An inquest has been opened at Preston on tho body of Mr . Edward Turner , rcedmakor of that town , suspected to have been poisoned by a Mr . Monk , liis medical attendant , -who is ako supposed to have forged a will of Mr . Turner ' s , made in liis favour . Tho inquiry stands adjourned , but in tho meanwhile Mr . Monk haa been arrested on tho charge of forgery .
Tub EKGr . ren Prisoners at Navlbs . —Tho Daily News publishes u long statemont to tho effect that our countrymou in the Neapolitan gaol , liavo been grossly ill-treated . This is a striking comment ou Lord l » ulmereton ' s declRrntiona lust niglit .
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; ; : ¦;; " Z ^ : : ' \ ¦ T ** E -SESSION . /" ' : ¦¦? ; ; . " : ' W , . ¦ ¦;• ¦ ¦ The list <* f subjects itv the opetoiiig Speech might lead us to expect a session not differing in its riaw- material irotti the laat ^^ the Bank Charter A < k under ^ e \ de ^ , Iiidia to fee bonsiclered , the items of a Beforrti -Bill , a Jew Bill and debia ^ es upon the sulbaervieii cy < y £ the British flag to tliose foreign powers whoni our present ; Premier' professes to keep so strongly in check . But there will -he essential ^ differenees } and although we ha \ e the ' . Bairtei . pqu . 'ea i . tion ^ pti . th ^ i Hst , tbe ^ are in all cases changed with the circumstances ; .
The Bank Charter £ jcb ; fox instance , has to ! b ' e con ^ ideredj aaot only becaxise it has been in operation , so many ^ yearsi but because it has a second time been set aside , this time more substantially than in 18 ^ Vvithamore continupus pressure of difficulty , and circumstances of greater suifering for the bulk of the people . How far the Bank Charter Act is or is not responsible for that injury to the country has to be ascertained ; and , instead of all plain-sailing , tlie inquiry ^ the debate , and the consultatioii upon iheasures will be very stormy work indeed .
The Charter of the East India Company was certain to come under debate , even if there had been no events to precipitate the question . But now the Queen's Speech points to a wide-spread revolt in Central India , and earnestly invites the attention of Parliament to the affairs of her Indian dominions . The whole of the Indian Government is to be overhauled . The Times was premature in describing the nature of the change , but something very extensive is contemplated . ¦ If the Company is not abolished in terms , it will be reduced to a minimum of indepeudent existence . The army in India may be
permanently Increased ; tlio Native army may probably be brought under the direct rule of the Crown ; and there may be n large extension of the civil service . India must ultimately pay for these improvements ; but in the meauwhile Bhe will need the moral support of England , and n loan is oa the carpet ; the financial exigency probably pressing for next month . With the question of loan comes the question of Indian currency ; with the question of government the stnte of Indian ports and trade , the nature of tho opium traffic , and our relations with China . The Charter of
tho East India Company is only a section of these largo mid complicated questions . "We had last year the items of a lieform Bill , proposed separately by different members ; this year Lord Pai ^ iekstott is himself to introduce a Reform Bill ; and the question whether it will or will not contain tho same ingredients which were distributed in various Bills 3 aBt yeiu * is by no means the most important point . It will scarcely include the
* £ ev Bill , which luord ; & ©*!» - ^ BxmMA . tets been empowered it 04 ) riiig ^ Wfiiti sepia *« ttely . tEbe true importata . ee < # * tofe « &eaiSM . re Ke& ' m tlie altered relatioiiB of ippiiti ^ l pa ^ tiefl . Xoind Pi \ i , MEii « TON a « pires to i » ke Ms ptec ^ aamoisgsfc Ee&rrn MiniatePs . ? Phe p <« i « fem ihad ^ been we * occupied by liord &Q&& EussKEL $ ; ia tLfdPtd ^ osisr-tio : be beaten in the competition for public favour by a higher > id lfrom the Premie ^ sent to Ibring forward ia meftsure only for rejection , and leave ifceipets io lioied 3-qWs ; or , will there be a genuine reeonGile ' aieBt on the sulsgect of iReform , liOrd JoHit invited to joia the Cabinet ^ hioh . carries tlie ' iretar-Biil ? .
Tfcese questions of party will |) Pdfe&bljr modify the ineasu ^ e & «/ wvs it ds introduced , The Minister is likely to see the aaecesBity of mak ing it ;; strong enough , to Beaure tlid suppdrt of a majority , at least in Pailiaineiit ; It must afc the very lowest be vrcrth adopting ; ifor liord PiLLiyEESRBToir is n 6 t a maiitb coutt defeat i and if lie goes in . for wihning at the a ? ace of lieform , strange horses inay run .
The changed position of publio inen implies a change in the position of the publio . A . t first it will lobk on , view tlie ccahpetition jter liaps with Tery cool feelinga , biut by degrees its interest will warm ; One of t& 0 first ; questions Will be ; to ascettain on which , side the Mahehester party in oyes . Will it go with the Conservative Bide against tHorougk ! Beibrm ; or w ith those Who are for oompromiaing th < e matter ; or with tlie most forward of the U-eforni party ? Its own . continued
existencej as well as its political suc ( 3 ess ^ dep 0 nas upon its choice . The w : ^ employment , will be one in which the lliUion will watch the movement of the Manchester party with jealousy , and not with any predilection in its'iaivoiir . The state of foreign affairs may disturb all our calculations by unforeseeai events . Should the ' credit' bubble in Fraiioe burst , a second edition of the crisis will come upon ; us before we ^ have recovered from the first . The state bf relatio 3 Bs between JSorthem
Italy and its enemies , Naples and Austria , is dangerous ; the state of Belgium , scarcely less so . At the re-meeting of the Conference iii Paris , the first act of Ilussia was to aim at some ldn d of recognition for the new boundary , without producing her maps ; she is , therefore , still engaged in the endeavour to steal-ad vantages , still in the temper which led to the war ;
and Xord Palmebstoit ' s Koyal Speech is talking of peace as if it were sure to xewiain unbroken throughout the coming year ! Who knows ? Any mistake on this point might cause the Government to break down . If it should do so , where ia the leader of tlie Liberal party ? "Will Lord John maintain his ground , or break down ? And should he fall , who is the leader ? These are a few of the unanswered questions of the opening session .
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THE BANK CHAltTER ACT NOT TINAI * The uncompromising advocates of ' tho Bill , the whole Bill , and nothing but the Bill' of 1844-, will have a heavy task to convince Parliiimeat and the public that we havo arrived at absolute perfection iu our currency legislation . They are labouring hard in their rocntion , and often with great ability , though not with any great amount of success , becauso they are addressing tlieir arguments to a community that has just been suffering intense distress iinder tho operation of fclio Aofc , and whose temporary deliverance was effected by the Act being relaxed . They arc frequently mere theorists addressing practical menmen who have felt for themselves the pressure of the screw , wliilo the theorist haa looked on and told thorn that it ought not to hurt them . 3 . Tho author of tho measure , himsoll , aid . not regard it as perfect . Ho looked upon , it as
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. - : ¦;¦ ., ; THE ¦ CORFU TELEGRAPH . . The Eli > a left Malta on : the 25 th ult . to effect the laying down of the submarine cable to Corfu ; A Turkish admiral had taken his departure for the Euphrates to superintend the biastirig of the rocks ^ vhich lie in the bed of the river and imp ede the navigation by steani ers ;
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ja ^* i NOTIQES TO COaBESPONiDENnS . feeVBmltt < Mamunieatio « &u . nav 6 tdably stand aver . « iB in ^ ppwUileto » cknowl « dgo the itfliss of ttelPbeM Wfe t « - ceive . Ttteir insertionis often dehvyed . owing to a » ress of matter ^ anft-whfen otnitted , it is Prefluentlvfrorn reaw sons quiteuidepend-eufc of thetneriihsof thecommnnica-- 'tion .: , . ¦ ' . ¦ ¦ ¦" . - . '¦ ¦ ' .. . ¦ ¦ ¦ ¦ . ; ¦ ¦ ; -: ' ¦ ¦ . . - : ¦ ¦ ¦ . - ¦ ¦ ¦ :.. - ' ¦¦ ¦ . ... . . NVnotieeOMi ibeitalcea « f tfnonjrmoias < 5 ttrtrespondfe « ce . Whatever is i ntended for insertion mttfit beauthentioafced 'by tnfe name and address o ! f the writer ; not necessarily _ ForpuijHeaticii . butasa / j ^ Qarattteeof hT 8 « oodrfarth . Wo cannot undertake to returnxejected conutaiunicaiiong
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There is jiotiiing so revolutionary-, because there is nothing so unnatural atid convulsive , as the strain to keej > th . mg ^ fixedwheai allthe world is by . tnevery l&w of its creationin eternal progress .- ^ -l ) B . AiHfOl . l ) . ¦ ¦ ;¦' . ; . '¦¦ . ' ¦ ¦ - . ' - ' ¦ - •• : ¦ - ' , ' .. ! - .. A ' —^ . ' . ¦ ¦ ¦ ¦ ¦ . - ¦ ' . ' ¦ •¦'¦ . .: ¦ : •• : ¦ ., ¦ ¦ .
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Leader (1850-1860), Dec. 5, 1857, page 1163, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2220/page/11/
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