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    with all its officers and staff of experienced practitioners ¦—ho meant the registrars , clerks of the seat , and proctors —to the Court of Chancery . He said the Court of Chancery , because that court was the only tribunal which was conversant with the administration of the estates of deceased persons , and the only tribunal which would then have the power of proving and establishing wills of personality , as well as of establishing wills of real estate . The House was aware that at present a great anomaly prevailed iu our system of procedure with regard to tho proof of wills . A will , when proved iu Doctors ' Coimnons , was conclusive and binding with respect to the personal estate of the testator ; but the decision of that tribunal had not the smallest operation upon that part of

    the will which related to his real estate . The result , therefore , was a degree of conflict and diversity of decision between different tribunals , the same instrument being occasionally held to be valid in regard to personality , and wholly invalid as to the real estate . The only way to get rid of this anomaly , would be to vest in one and the same tribunal the power of dealing with both the real and the personal estate , and of carrying into effect the whole of the directions contained in the instrument . The result of the arrangement would be this , that , the diocesan courts must be regarded as courts placed in connexion and communication with the metropolitan tribunal—narnely , the Court of Chancery , which would become the great court of probate . Another anomaly in our judicial system would then

    ba taken away , because tho present courts of probate were not regarded as the Queen ' s courts , but were looked upon as deriving their jurisdiction from some sort of ecclesiastical authority , lie apprehended that this arrangement would introduce not only uniformity but a great deal of convenience into the administration of our judicialXystem —improvements which had more than once been attempted to be introduced , but which had failed from two causes . In the first place , there had been till lately a distrust entertained of the Court of Chancery , which it was supposed would perpetuate the evils complained of in the ecclesiastical courts . He was happy I o state that these abuses had nearly , if not entirely , ceased , and therefore he thought the time had come when the whole subject of ecclesiastical jurisdiction might be transferred to the Court of Chancery , with the certainty of its being regulated in a manner that

    would be beneficial to the community at large . Another reason which made it difficult to deal with the subject of the ecclesiastical courts , was the question of compensation to those whose interest might be affected by any change which , might bo considered desirable . But under the arrangement which lie proposed , the present officers of the ecclesiastical courts would become at once officers of the Court of Chancery , and they would have given to them , exclusively , for a certain period , the privilege of proving wills in the common form . Of course , he was aware of the importance of securing the services of so useful a body of men , and he conceived that they would have no right to complain if their professional emoluments were not found to be materially affected by the change . He thought , therefore , that there would not be that remonstrance and opposition which had been formerly offered when bills of a similar kind had been introduced . It would bo

    necessary to remind the House , that on two iormer occasions the legislature had been careful to provide that the officers of these courts should not be entitled to any compensation . Ho found that tho act , 6 and 7 William' IV ., c . 77 , provided that "in case the office of judge , registrar , or other officer of" any or either of the ecclesiastical courts in England or Wales ( except the Prerogative Court of Canterbury ) shall become vacant , the person thereunto appointed shall not , by such appointment , acquire any vested interest in such oflice , nor any claim or title to compensation in respect thereof , in case tho same shall ho hereafter abolished by Parliament . " There would bo 115 difficulty , therefore , lie apprehended , in dealing with the officers whose rights seemed to stand in tho way of tho changes

    which he proposed : because ho behoved that scarcely an instance would occur which would not fall under tho contemplated arrangement . Tho jurisdiction of tho ecclesiastical courts , now no longer ecclesiastical , would stand in this way -when a party having a fixed residence } died within an existing dioeot e , it would be competent to his representative to prove the will in that dioic . se ; but if any litigation arose , the question must bo removed for the decision of the Court oi l ' rolmfe in London . The namo rule would apply to the estates and effects of persons dying intestate , ami in Mm event of porsonn having 110 fixed resideneo within a diocese , or ( lying abroad , the jurisdiction with respect , to their estates would devolve upon tho metropolitan Court , of l ' l'ohulo alone , from which an appeal

    would lie only to the I louse of Lords , and not , to t lie Judicial (! oimni ( , fcc of the Privy Council us heretofore . The additional objects which would be accomplished by the inc'i . siii ' c . which he bad otated to the House , would lie extremely important in oilier points of view ; but , in order that , he might anticipate objections Unit , might be ta ' iou to ( . he hill , In ) would state that , it , would lie tho object , of tho measure to establish one place of registering caveats , and that in . London alone . The result ., therefore-, would be , that , there would be no necessity for searching in tho various diocesan courts to ascertain if any objection would bo made to I he proof of a will . The 11 ouno was well aware of tho ( lillicullies ( . hat-arose in the administration of (' . stales ,

    by reason of the imperfect jurisdiction of ( . lie ecclesiastical courts to provide for ( ho iidniinisl rat ion of property pending contentious proceedings arising on the proof oi a will . That also would be remedied by tho centralizing principle , which tho ( jfovornment proposed to establish with re-Hpeel to those courts , lie hud only to repeat , that ho would consent to tho second reading of the bill on tho unclorHtnnding that it . was not further to be proceeded with until he bad an opportunity of introducing tho meiisuro of which be bad given the out lino ; but . if that proposition ¦\ vum not neceded to , I 10 hoped tho ilouso would pause before it , tuuio . fionod tho introduction of a bill of this fraginuntary character , which , before if could moot tho

    requirements of the occasion , must undergo very extensive modifications . ( Cheers . ) The House was fairly taken by surprise . Mr . Hen-IjET , indeed , made some objections on behalf of the proctors , chiefly , however , from an opposition point of view , and apparently rather to embarrass the Government . But Dr . Phillimore , himself a proctor , thanked him for his sympathy , but threw ridicule on

    bis dreary anticipations . Mr . Walpole , another great light of the Opposition , more than approved of the measure ; he proposed that the whole question of the ecclesiastical courts should be dealt with . Mr . Hume successively elicited from Mr . Bethel the announcement that the measure would extend to Scotlaiidvand Ireland , and go to the abolition of all sinecures . ( Cheers . ) Mr . Hndfield ' s bill was postponed for a month .

    THE NATIONAL DEBT . The House of Commons having resolved itself into a Committee upon the Consolidated Fund and National Debt Redemption Acts , last night , The Chancellor of the Exchequer detailed the nature of the propositions he had to make on the part of the Government with respect to a portion of the National Debt . He did not recommend these propositions , he said , as affecting any large or sweeping changes , but as just and prudent in themselves , and as laying the foundation of more extended and future improvements . The operations effected upon the debt

    in former years by Lord Bexley , Lord Ripon , and Mr . Goulburn , were widely different from and more simple and easy than any that could he now carried into effect , an enormous amount of stock being exempt from compulsory operation . But the Government thought that , although they could not accomplish such magnificent results as were achieved at former periods , the time had come when a beginning might be made , which would he useful as far as it went . The plan they proposed consisted of three portions . Tlie first was the liquidation of certain minor stocks , namely , South Sea Stock , Old and New South Sea Annuities ,

    Bank Annuities 1726 , and Three per Cent . Annuities 1751 ; the aggregate amount of which was about 9 , 5 OO , O 0 OZ . It was proposed to tender to the holders of these stocks certain alternatives beside that of being paid off . A moderate reduction of the rate of interest would thereby be effected , ' which if only a quarter per cent ., would produce a permanent saving of 25 , 000 £ . a-year . If cash were called for , the Government would he enabled to employ balances now lying idle . The second portion of the plan related to the issue of Exchequer Bonds , and the third to a voluntary commutation of the Three per Cent . Consols and the Three

    per Cent . Reduced , making together a capital of nearly 500 , 000 , 000 ^ ., thereby laying the foundation of a permanent , irredeemable Two-and-a-half per cent . stock , which was tho ultimate aim of the Government and the key of the resolutions he should move . The Exchequer Bonds would be transferable by simple delivery ; they would bear interest at 2 £ per cent , for a time to be fixed by Parliament , reducible at the discrotion of tho Treasury , and afterwards to bear 2 ^ - per cent , until the year 1894 , when they would ho subject to redemption ; the amount of tho Bonds not to exceed 30 , 000 , 000 / . It was further proposed that these

    Exchequer Bonds should be exchangeable for . Exche quer Bills , or against the new stocks created by the resolutions , or he sold by the Government , and the proceeds employed in the purchase of stock for eaneellaliition . There were some points of difficulty with reference to these securities , to ohviuto which he thought tho wisest course would ho to intrust the Government with : i discretion , the amount of the bonds being limited . Tho Exchequer Bonds , however , would not furnish a basis sufficiently broad for tho intended operation . Ho believed they would not suit nil holders of stock ; that , while they would lie sought as commercial

    and trading securities , they would not be held : is permanent properly , especially by trustees . To meet tho wishes of all public creditors , therefore , it was proposed to Milord the means of voluntary conversion of the frreal , Three per Out . Stocks , and , until tlit ) 10 th of October , to allow ( In ; holders of" Three per Cent . Consols and Throe pur Cent . 'Reduced the option of exchanging tho stocks either into Exchequer Bonds at pur , or into a new T ! iree-an < l-u-lJalf per Cent . Stock , at tho rate of 82 / . JO . v . of the latter for every 100 / . of the

    former , which would j ^ ive a permanent income oi 2 / . 17 . V . \ hf ., iusfeud of ' M . ; or it would be open to them to fake , for every 100 / . Stock , 110 / . of a Twoaiul-a-hulf per Cent . Stock' guaranteed for forty yours , lint it was intended to limit the extent of this option . Tho objection to the lust alternative was that , in order to reduce the annual charge of the debt , the capital or principal would bo increased ; hut Mr . Gludatono argued that , taking tho creation oi' thiw stock in conjunction with that of the Thrce-and-a-IIalf por Cent .

    Stock , posterity would suffer no disadvantage- On the contrary , posterity would enjoy a reduction of the annual charge for the debt . By the original draught of the resolutions it was left to the option of all holders of the great Three per Cent . Stocks to exchange into tho new Two-and-a-half per Cent . Stock . This might have entailed an increase of the nominal capital of the debt to the extent of 50 , OOCl , OOOZ ., and he did not think the risk of so large an increase should be incurred . It was intended , therefore , to limit the amount of Three per Cent . Stock to be commuted to 30 , 000 , 000 ? ., according to priority , the holders of the Three per Cent .

    Stocks having still , however , the option of exchanging it for Three-and-a-Half per Cents , or Exchequer Bonds . The utmost nominal addition that could be made to the capital of the National Debt would consequently be something more than 3 , 000 , 000 / . It was proposed that the Accountant-General in the Court of Chancery and the Accountant in Bankruptcy should not have the power of exercising the option of commuting the greater stocks standing in their names . Mr . Gladstone , in conclusion , expressing his belief that if the plan succeeded the saving would be very considerable , moved a series of resolutions , pointing out the differences between the original and the amended draughts .

    The ensuing discussion exhibited the House in a state bordering on surprise , not to say bewilderment . Mr . Htjme approved ; but Mr . William : Williams opposed the plan , because it would add to the national debt . Mr . Henley , Mr . Alderman Thompson , and Mr . J . B . Smith , asked for time ; but Mr . EllicE demanded an immediate decision . Sir Fitzkoy Kelly attacked the proposition as a delusion ; and Mr . Wilson replying to him , was

    himself replied to by Mr . Spoonee . Mr . Laing and Mr . Macgkegob . defended the plan ; and Mr . Pisbaeli wound up the discussion by a speech , which fell flatly on the House , and was a weak attempt at grappling with the subject , expressed in a flippant manner . Indeed the Opposition betrayed symptoms of envy and jealousy that the proposition had been made by their successors , and showed what Lord John Russell aptly termed , a bitterness not usual on finance questions .

    The whole of the resolutions ( for which see below ) then passed . Next week , the Bill founded on these will be introduced .

    THE CITY ADDEESS . The gentlemen of the City who presented the address to Louis Napoleon , formed a subject of debate in the House of Lords on Monday . Lord Campbell complained of the transaction as a violation of the law of nations , perhaps of the law of the land , and little short of high treason . The rule is , to treat on all matters of peace and war , between nation and nation , through accredited ambassadors . He did not blame the deputation ; he did not impute to them stock-jobbing designs ; but surely such a proceeding 1 might he so used . He wished to know whether the deputation had the sanction of Government . For all ho knew , Sir James Duke might have been sent as ambassador extraordinary to supersede Lord Cowley .

    Lord Clarendon stated that the deputation had not been sanctioned by Ministers—A highly respectable gentleman with whom he was acquainted called upon him two or three days before tho declaration was carried over to France , showed it to him , and asked him to read it over . It certainly appeared to him ( tho Earl of Clarendon ) that its contents wore perfectly unobjectionable , and that it contained ehhpfy a record of opinions , such as every right-minded man , and indeed every ono who valued the maintenance of peace and tho continuanco of tho feelings at presont existing betweon tho two countries of Franco and England could

    linvo no possible objection to sign . Ho was told by tho gentleman to whom ho had alluded , that this declaration was to be presented to tho Emperor , but ho had no information that it was to bo presented with an address . Ho certainly did not bco anything in tho declaration that could bo said to hour n national character , or that could bo construed aa more than a declaration of opinion from certain merchants and traders . When , howovcr , that gentleman further asked if ho should have any objection to instruct the British nmban 8 ador to bo present at its prosontntion , ho ( tho Earl of Clarendon ) slated ho should certainly object to give such instructions , and tho JJritish .

    ambassador was not present . "No doubt eonio of'tho French Miiiiutorn might have boon pre . Hoiit when tko address woe received by tho Emnoror ; hut ho had now hoard for tho Knit time that his Majesty received it on tho throno , Ho must say that , as far as lie hud . hoard , tho presentation of the address had produced a good impression ; though cer- tninly , had his opinion boon asked whether it wa . 8 desirable that such an address should bo carried over to tho Emporor of the French , ho should huvo said no because ho thought that it was perfectly unnecessary with rofo ' renco to tho maintenance of tho good understanding that now nubsiBteci between tho two countries , which ho was happy to nay waa of tho moat cordial description .

    Lord l < lid , um \ ouQvaix tiualod tho transaction wufl repugnant to tho lvplinKS ° f every Jfinglwlnnitti who did not disparage himuolf and bio country by being

    Untitled Article

    340 THE LEADER . [ Saturday ,

• Citation
  • Leader (1850-1860), April 9, 1853, page 340, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct1981/page/4/