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    August 12, 1854.] THE LEADER. 747

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    Paeliamefe Of The Week. " Coterbwiew* Fi...

    • when we consider what the amount of our trade is , and how much we depend upon it for our revenue and retaining our position as a first-rate Power among the nations , I say it ia not an unimportant thing that in this great war with a maritime Power our ships are permitted to ride on every sea throughout the world , unmolested and free from danger . While the Russian ships are so blockaded our trade flourishes , and I may say that , in consequence of their ships being blockaded , we may consider the trade of Russia as nearly extinct , My lords , I am not able to quote prices , as my noble friend has done , or say on what terms certain . Russian productions can . be brought to this country ; but this I \ now , that none of them « ome from the Russian ports in the Baltic , though some of them may come from the Black Sea . But when we consider the great expense of carrying Russian products overland—that , for example , as I am informed , Russian tallow , brought from

    Jlemel , has increased from 10 / . to 20 ? . a ton—it cannot be thought that much business will be carried on at that price . We must consider , too , that the trade with Russia is usually conducted with English capital ; that English capital has been indispensable for their production and for bringing them to market , and that that has entirely ceased : and that all the industry of tlie country has , to a great extent heen paralyzed , while the want of markets has deprived the Russian proprietor of all that he had to depend on to meet the expenses to which he is subject . Now , I know these are not ¦ very heroic results , but I feel sure they will do whAt my iioble friend thinJts so desirable—they will create more pressure on all classes in Russia , and . will exercise an effect on public opinion— -which I agree with him does exist—far greater even than if Sebastopol or Helsingfbrs had fallen , and our national vanity and ambition been thereby gratified . 3 EMs was his peroration : —

    * ' I have often said , my lords , that it would be useless to attempt to say what would be the conditions on which we may make peace , but we are of opinion that t lie object of the war is to attain a . just and honourable , and—as far as human foresight can procure it—a . Justing peace ; and we believe that ho peace whatever can be just or honourable , or likely to be lasting , that does not secure the independence and integrity of the Turkish empire—that does not make the Ottoman empire a part of the general system of European policy—that does not protect the Ottoman empire from menace , and secure it from danger . ( Cheers . ") I say ,

    without this , peace would not be just , or honourable , or lasting . ; and , in order to get these objects , we desire the co-operation of other Governments , but we are not depending on them . Prance and England will not relax in their efforts . They rely on their own resources , on the justice of their cause , and on the support which they receive at home ; and , though we are ready to negotiate for peace , we are determined never to do so till we get evidence of bondjide intentions and a willingness to accept those conditions which we feel to be just , and ¦ which the whole of Europe is entitled to obtain at our hands . ( Cheers . ) [ Very few peers were present , though this was the most candid Ministerial speech of the session . ] ENCUFSIBEKED ESTATES WEST INDIA . BILL . On going into committee on this bill , on Monday , socoe interesting conversation took place . Sir J . Pakington complained that the return which had l ) een made in compliance with the motion of the ri ^ tot honourable member for Coventry , as to the repayments anade on the Hurricane Loan advanced to the colonists of the British West Indies in 1831 , had been made in an incorrect form , and did not represent the actual repayments which ] ind been made , the real balance due being only -100 , 000 / . out of the 1 , 000 , 000 ? . advanced , whereas the return would leave it to be understood that the balanco was ' 2 Q () , 0 QQl . or # 00 , 000 ? . above that amount . The right lion , baronet protested against the harsh manner in which he described tho Government to be acting towards the West Indians , from

    'whom it was sought to extort more than could bo fairly demanded from them , and which in fact would amount to , if enforced , absolute confiscation ' of the estates of tho proprietors . If tho Government pressed for the pound of ilesh . if they soiight to extract from these estates all that could be got from them , tho result would bo that in St . Vincent alono , out of 23 estates no less than 18 would be altogether confiscated and taken away from tho owners . If tlie West Indies were now in tho stuno state as they were at tho time these loans were granted—if Wost India prosperity had iiovcr beon diminished , tlio Government might then very properly claim the whole amount of their dobt . But tlie whole effect of legislation on tho part ot this country had been to reduce tlio West Indies generally to a stato of poverty and ruin , on the ground , aa wus urged , of public policy , and

    of what was duo to tho wolfiu-o of tho people of this country . If these loans hud not been r « covotou , had not tho people of thip country been repaid in another nhup < : ? What had they n » t gained in tho interval by tho full iu tho prico of sugar ? Lnat year alono tho saving ofl ' uotou in thin wivy might bo calculated at upwards of 3 , 000 , 000 / . —a gnin efleolod by tho ruin of tho unfortunate West India proprietors . Tho suggestion made on tho port of tho debtors to the Stato wna , that their rcapcotivo debts should bo lowered upon a fair and a strict valuation , in tho uamo ratio as their estutoB had boon dimhiialujd in value . There might bo some difficulty in apportioning thi » , but in itself tho proposal » eomod to him u perfectly ftur one . Ho did liopo tho Governnionl , would incut ti

    ns q | uun lor consideration iu u fair and liberal Hpiril , and that they would not act upon Lho lottor of tho luw or in tho tipmtiql' tho lUsaputoh wiitUn by tho Sucrotnry of tho Troa-Bury , m whUili that gcnllcnuui hud declared llioUovonuuont wove wtflUig to ucoopt what would bo , in a great numbur of cusoa , actual oonllaoiubn . Mr . Wu-son could not suy ho thought tho right lion , guntloman had t » k < in iv wine cmumi iu brii > uiii ( ' thin nmttur boluro tho House ufc tho prysout time , W « H tho ott ' uot it , cou d huvo would b « to cwuto hopua whluli munt iiocu » Hiu'ily lio diwiupomtuU lunoiiR tho purtiua who hud obluiiu-a thouo loiuia . Alrwd y tho uiwntuluty [ n whi « h tho Went India propnotora liud boon kopt m to tho latontlojiB of tho Uovorn-HK'ul hud been wry i > nyuiliol ; tl to llio iwm-imMiionl of tlivii

    estates . These loans had been borrowed under the acts of tlie 2 nd and 3 rd William IV ., in the year 1832 or 1833 . By the terms of that act , these loans were to be repaid in ten years , but before that period expired Parliament extended the term for ten years further . Not satisfied with that lenient treatment , in 1848 that House passed an act whereby the annual payments during these last ten years were extended for five years further . This term expired in August last . It then became the imperative duty of the Government to determine in one way or another what should be done with regard to these loans . It was quite obvious that , if the question had been still left open , not only would the existing proprietors have been unable to obtain any credit upon their estates , but that the interest of individuals would be rather to allow these estates to deteriorate than to be improved .

    The Government , indeed , had been distinctly informed that this was the direct result which ensued from , the want of a settlement in this matter . The duty of the Government , then , in order that these islands might be restored to some measure of prosperity , was by some means or other to bring all these claims to as early a conclusion as possible . They had found that it was impossible to apply a common ru-lo to all cases . The principle adopted by the Government had , however , been this—that if a person could show that he w ^ s prepared to pay as much as the Government would be able , through an expensive and what might be called a harsh mode of treatment , ultimately to obtain , then they would feel justified in accepting a sum of money . " considerably less than the actual value of the estate , but not smaller than the amount which the estate would bring to the Government

    if they foreclosed their mortgage . He thought this was a very just and fair principle to act upon , and one which would be thought satisfactory by the public . The general principle they had laid down , and which the Exchequer Loan Commissioners had communicated to the jarties , was that they were empowered to extend to 1859 , and no longer , the payment of these loans , and meanwhile they were prepared to receive application * for compounding-and settling them-in . any way rnost convenient to the proprietors . The fair and liberal spirit in which any s . ach propositions would be received might be judged , of from the fact , since last year , in Jamaica , out of 56 estates the Exchequer Loan Commissioners had succeeded in bringing into a fair way of settlement , by sale or by payment , no less than 41 . One fact -which ought to be known by the House was , that persons had been speculating

    upon the ruin ot others is the West Indies , in order to get the Government to give up their claims . Would the Government be justified in throwing away the public money in any such way ? All he could say was , that where ah original bondjide debtor and owner of the estate made a proposition to the Exchequer Loan Commissioners , such a proposition would be received with every desire of settling the claim in the most liberal spirit . He hoped , therefore , the right hon . gentleman would be satisfied to leave the matter in the hands of tho Government , with an assurance that , while they would endeavour to do their duty to the public , yet that where there was a bondjide disposition to settle the ' matter on the part of the proprietors , and no disposition to speculate , the Exchequer Loan Commissioners would receive any such applications with every possible desire to meet them fairly and liberally .

    Mr . E . Ei-lice must say that the manner in which tlie right honourable gentleman opposite ( Sir John Pakington ) had characterised the whole of the proceedings on the part of the Government appeared to him exceedingly just . The hon . member said that , if the West India proprietors would pay as much of their debts as the Treasury could by any process exact from these estates . Government would listen to any applications which might be made to them . Now , ho agreed with tho right hon . gentleman , that this was a potty , oppressive , and vexatious proceeding . He concurred with the hon . gentleman in thinking that it was worse than useless to have tho sword suspended any longer over the heads of these unfortunate debtors , and that the matter should be settled now , once and for all ; but the case of these poor West India proprietors was a very hard one , and had mot

    with very little sympathy either from that House , from the Government , or , ho feared , from tho public at large . A system of artificial prosperity had been founded in the West Indies , and founded upon tho worst principles—slavery and protection . Wo had tulcon suddenly away tho basis upon which the whole fabric ivsted ; tho fabric had fallen , and irretrievably fallen ; and while this was going on , instead of taking to ourselves tho blumo of the system from which all these miserable consequencos had issued , wo scolded tho victims , troatcd them in tho manner now proposed by the Treasury ; and their case idtogether had mot with about as little consideration as it vyas possible to conceive . Sir Gkokqis Guuy Baid their businese wns to look to the public interests here ; and tho public interest was that the publiu ' ti money should lo repaid by th , otie who ha , d b . or-, rowed it .

    Mr . V . Sciirxv made an excellent Buggeatiqa : Forced Bales of tlio estates would probnblo occasion a loss to tho sellers of nioro than ono-lialf tho value ; but ho bojioved th , at this result might , in some degree , bo provontod through ' the oircu'lntion of capital among persons dcsirons . to become purchasers , by allowing u portion of tho purchase monoy to remain out upon negotiable aocurifioa in tuo natuvo of land debentures .

    TIIH KNPIAN lUJDOEr . On Tuesday tho Houso of Commons ( numbering at tho timo fourteen members ) resolved itself into u committee on tho Indian llcvenuo Accounts , when Sir C . Wood , as President of the Board of Control , delivered his budget , In fulfilment of a promise made last your . It was n statement of tho financial condition ami general progross of India ; nnd ho followed un by certain resolutions ( following tho precedents ol former yours ) relative to tlio income and chargo of the several presidencies of India , and the general charges iiv India and at home , tho ujHercnco being the ultimate surplus of tho Indian rovonue . After Homo iirclhnimiry observations * upon tho form of tho accounts , and upon tho reasons which rendered i

    impossible to show the revenue and charg e of each presidency with perfect accuracy separately , he proceeded to state the results of the accounts and tee substance of the several resolutions : — " The revenue of the Presidency of Bengal for the year ending the 30 th of April , 1852 , was 7 , 584 , 435 / . ; the local charge ( exclusive of tho military ) , 1 , 936 , 362 / . ; the local surplus , 5 , 648 , 073 / . The revenue of the Korth-west Provinces was 5 , 670 , 715 / . ; the local charge , 1 , 402 , 238 / . ; leaving a local surplus of 4 , 268 , 477 £ . The military charges of Bengal and the North-west Pro-vinees were 5 , 442 * 230 / , The net revenue of Bengal and the North-west Provinces amounted to 13 , 255 , laO ? ., arid the charge on them ( exclusive of the military ) to 8 , 770 , 330 / ., leaving a surplus cevenueapplieabla to the general purposes of India of 4 , 484326 / . The revenue

    of Madras was 3 , 704 , 04 */ . ; the charge-, 3 * 2 04 , 273 / . ; the surplus , 49 : 9 , 775 / . The revenue of Bombay was 3 , 868 , ? 98 Z ; ¦; the charge , 2 , 847 , 392 / . ; the surplus ^ 20 , 90 j 6 Z . The total net revenues of the several presidencies amounted to 19 , 827 , 496 / ., and the total local charges to 14 , 822 , 495 ? ., leaving a total surplus of 5 , 005 , 001 / . Tie interest on the Indian debt was 1 , 967 , 359 ^ ., and the amount of chajrges paid in England was 2 , 506 , 377 / , , making together 4 , 473 , 736 ? ., leaving a surplus , in the year 1851-52 , of revenue abore expenditure of 531 , 265 ? . This statement he thought was a satisfactory one , more especially as in the fcwo preceding years there had ailso been a surplus of revenue , though not quite so large . The year 1851-52 vrasthelast for wiich he had a complete statement , but he had an estimate for 1852- 53 i which , showed a gross revenue of 26 , 915 , 431 / ., a erotss expenditure

    of 26 , 27 o , 966 ? ., and a surplus of 63 . 9 , 465 / . He was sorry to say that in the year just ended—1853 .-54—there was a prospect of a considerable deficiency , the resemie peing estimated at ' . 2 $ , 586 , 826 £ , znH the expenditure ^ t 27 , 459 , 161 ? ., leaving a probable deficiency of 872 , 335 ? . Sir Charles specified sorne of the heads on which , there w-ould he a . deficit of revenue or on increase off « havge ^ a , ri , d stated , the future prospects of tlie chief sources of incorae- ^ -nainely , the land revenue , to which ; no addition could be expected "; the opium duty , which was uncertain , though he did not calculate upon a diminution of the demand in China ; salt , and Customsconcluding that there was little prospect of an increase of the Indian revenues , and as little of a diminution cf expenditure . The great item of charge -was the army ; but , notwithstanding our late increase or territory in the Punjab , Pegue , and

    JSiagpore , only two European and three native regiments had been added to the army , which was small compared with tlie forces of native states . Our whole Indian airmy amounted to 320 , 000 men , while the few native states maintained 398 , 000 men . Upon public works , judicial establishments , and education , an increase of expenditure must be incurred . In one item a considerable reduction had been effected , namely , the interest paid on the Indian debt , the great mass of which had been converted from 5 per cent- to 4 per cent ., realising a- saving of 330 , 000 ? ., in the face of one war concluded and another commenced . Sir Charles then took a view « f th , p general state and progress of India . The territory acquired in Ava , rich in products of various kinds , was likely to become a valuable possession , as well as Nagpore , which had lapsed to the British Government by the

    death of the Rajah . The tribes in the north-west of India had at length been coerced to submission ; friendly relations bad been established with the chiefs of North Afghanistan , and there was every prospect that next year he should be able to roalce a similar announcement with reference to Dost Mahomed Khan and Cabul . The Shah of Persia had professed , and had hitherto maintained , an unbroken neutrality in the war with Russia . Lord Dalhousie , he was happy to say , had been enabled to turn his attention to the internal improvement of India , Sir C . Wood enumerated some of these improvements—the increase in the salaries of native judges , and the advancing them to higher situations ; the ameliprat ; io . n of gaols , and tho suppression of dacoity . He likewise gare some striking details of that great undertaking ,

    now completed , the Ganges Canal , and of the administration of the Punjab , which in tlireo years had been recovered from a state of disorder and Bettled in tranquillity , tho assessments reduced , obnoxious taxes repealed , and local courts established , with nativo agency . J 3 [ e gUw , ced at tho public works executed at Boinbay a , nd Madras ; at the progross of railroads in India , and tlio construction of the electric telegraph connecting Calcutta with Delhi , Agra , and Bombay . Ho then stated what hud bcon done in execution of the act of last year , and detailed at considerable length tho measures which had beon adopted and we * o iu preparation for two grea , t objects , tho promotion of publlq ^ vorks and a systcmaUo sohemo of educatioa in India . Sorno cqrniMents foUdwedTr-tho Houso of 14 apparently being satisfied .

    Sir J 3 . Perry said , ho had listened with unmixed gratification to the speech of Sir O . Wood , which would bo hailed by tho people of India as containing tho moat promusing picture which hacj eycr beon held out to them . Mr . H , D . Seymour thought th © greatest credit was duo to tho right hon . baronet for his offorts in the cause of Indian refqrm during the past year , Ilia minute pn education would be received with approbation from ono end © f the country to the other . Tho right hon . baronot , now that tho revenue did not meet the expenditure , ought to endeavour to followout tho policy of Sir It . Peel in rogard to this country —to take oil' tho tnxoa from the mass of tho people , so as to improve their onorgiee nnd enable them to fill tho Exchequer . .

    _ , _ - .,.. Mr . J . a , FuiJLuuoKB » opoJ tho attention of tlxo right hou . baronqt would ho turned towards tho otttfmnottt of a syetom of cheap transit from ono end of tho country to tlio other . Tlio nnportnnco ot developing the production of cotton in India could scarcely booxuggoratod , and with this view ho hoped no pains would bo spared ^ o improve , tho navigation of bhoGodavory . bovcral rogont American W ^ tora had expressed an opinion that if tho resources of

    August 12, 1854.] The Leader. 747

    August 12 , 1854 . ] THE LEADER . 747

• Citation
  • Leader (1850-1860), Aug. 12, 1854, page 3, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_12081854/page/3/