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    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 is not an' unimportant tiling that in this great war with a maritime Power our ships are permitted to ride on every sea thrdughout 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 tills country ] but this I know , that none of them come 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 Memel , has increased from 101 . to 201 . 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 the country has , to a great extent been 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 noble friend thinks 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 Helsmgfors had fallen , and our national vanity and ambition been thereby gratified . This * was his peroration : —

    " I have often-said , my lords , that It would be useless to attempt to say what would be ; the conditions on -winch we may make peace , but we are of opinion that the object of the War is to attain a just and honourable , and—as far as human foresight can procure it—a lasting peace ; and we believe that no 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 . ( C 7 ; eers . ) I say ,

    without this , peace would not be just , or honourable , or lusting ; and , in order to get these objects , -we desire the co-operation of other Governments , but we are not depending on them . France 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 bond fide intentions and a willingness to accept those conditions which , we feel to be justj and which the whole of Europe is entitled to obtain at pur hands . ( Ckeers , ')

    [ Very few peers were present , though this was the most candid Ministerial speech of the session . !

    ENCUMBERED ESTATES WEST INDIA BXIX .. On going into committee on this hill , on Monday , some interesting conversation took place . Sir J . Paiungton complained that the return which hud been -made in compliance with the motion of the right honourable member for Coventry , as to the repayments made 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 had been made , the real balance due being only 400 , 000 / . out of the 1 , 000 , 000 / . advanced , whereas the return would leave it to bo understood that the balance was 200 , 000 / . or 300 , 000 / . above that amount . Tho right lion , baronet protested against the liarsh manner in which ho described , the

    Government to bo acting towards tho West Indians , from wliom it was sought to extort more than could be fairly demanded from them , and which in fact would amount to , if enforced , absolute confiscation of the estates of the proprietors , If the Government pressed for tho pound of ilesli , if they sought to extract from thoso estates all that could bo got from them , tho result would bo that in St . Vincent nlono , out of 23 estates no loss than 18 would be altogether confiscated and taken awny from tho owners . If the West Indies were now in the sumo stnto na they were at tho time these loans were granted—if West India prosperity had uovor been diminished , tho Government might thon very proporly claim tho whole amount of their debt . But the whole- effect of legislation on tho part ol this country had been to reduce tho West Indies generally to a stato of poverty and ruin , on tho ground , as was urged , of public policy , nnd of what was duo to tho wolfaro of Uio people of thia country . If these loans had not been recovotod , hail not the people of this country boon repaid in another shape ? What had thoy # t

    ngained in tho interval by tho full in tho price of sugar ? Lnst year alono tlio saving cu ' octod in this way might bo calculated at upwards of 3 , 000 , 0 ( 10 / . —a gain cfll-otud . by tho ruin of tho unfortunate West Iiidiu proprietors . Tlio suggestion made on tho part of tlio dobtora to tho Stntu wna , tliatthoir respective dobtH should bo lowered upon u lair and n strict valuation , in tho samu rntto an tlicir estates had boon diminished in value . TUoro might bo some dilliculty in apportioning thin , but in itself tlio proposal aconicd to him u porteotl y fair one . Ho did hopo tlio Governmont , would inoct tIns olniin for consideration in « fair nnd liberal spirit , and that they would not uot upon tho lottor of tho Inw or in tlio spirit of thodespntch written by tho Hccrotiiry of tho Treasury , in whloh tlint gontlunmn hud declared tlio Government m-ro willing to accept , what would be , in a great number of cuhch , actual contention . Mr . Wimon could not Bny l l 0 thought Uio rl K lit hou . gentleman had taken a wi « o course in brin lii K tliU matter Loloro tho llouw m Ul 0 pro 801 | t . u | V ) 1 , \ ft lllotlffljot it couM have would bo to crcmto hopon which mum nocoiuuu-ily l . o disappointed among tho imrtlva wlio had obtained thi

    . 1 o . i ,. b . Already the uncertainty " in whV 1 ,, W ^ 1 ., proprietors IiixfbQcu h « pt ns to tho lnl « ntionn of t u > « v ' limit had bcon v « ry prejudicial to tho Improvement of tlio r

    estates . These loans had been borrowed under the acts of the 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 tbat 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 tliat , if the question had been still left open , not only wonld tile 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 .

    I he 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 rule to all cases . The principle adopted by " the Government had , however , been , this—that if a person could show that he was prepared to pay as much as the Government would be able , through an expensive and what might be called a liarsh mode of treatment , ultimately to obtain , then tbey would feel justified in accepting a sura 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 parties , was that they were empowered to extend to 1859 , and no , longer , the payment of these loans , and meanwhile they were prepared to receive applications for Compounding ; and settling them in any way most convenient to the ' proprietors . The fair and liberal spirit in which any such 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 oy payment , no less than 41 . One fact , which ought to be known by the House was , that persons had been speculating

    upon the ruin of others in the West Indies , in order to get the Government to give iip their claims . Would the Government be justified in throwing away the public money in any such way ? All he ccnild say was , that where an original honn Jide debtor and owner of the estate made a proposition to the Exchequer Loan Commissioners , such a proposition would be received with every desh-e 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 the Government , with an assurance that , while they would endeavour to do their duty to the public , yet that where there was a honqfidz disposition to settle the ' matter on the part of the proprietors , arid 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 . ErxiCE must say that the manner in which the right honourable gentleman opposite ( Sir John Pakington ) hitel characterised tlie whole of the proceedings on the part of tho Government appeared to him exceedingly just , The hon . member snid that , if the West India proprietors would pay ( is 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 , he agreed with tho right lion , gentleman , that this was a potty , oppressive , and vexatious proceeding . Ho concurred with the hon . gentleman in thinking that it was worse than useless to have the sword suspended any longer over the heads of these unfortunate debtors , and that tho 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 met with very little sympathy either from that House , from the Government , or , he feared , from tho public at large . A system of artificial prosperity had been founded in tho West Indies , nnd founded upon tlio worst principles—slavery and protection . Wo had taken suddenly awny the basis upon which tho whole fabric rested ; tho fabric had fallen , and irretrievably fallen ; nnd while this was going on , instead of taking to ourselvos tho blumo of the system from which all these miserable consequences had issued , we scolded tho victims , treated them in tho marnior now proposed by tho Treasury 5 and their case altogether had mot with about ns litllo consideration us it was possible to conceive .

    Sir Gicouois Gury- said their business was to look to tho public interests lioro : and tho public interest was that the public's money should bo repaid by thoso who had borrowed it . Jfr . V . Scur . ur made an excellent suggestion : Forced 6 ale 0 of tl » o estates would probable occasion a loss to tho sellers of more thnn one-ha If tho valuo ; but he believed that this result might , in aomo degree , bo prevontod through the circulation of capital among persona desirous to becomo purchasers , by allowing a portion of tho pni-chnsa manay to reinnin out upon negotiable securities in tho nature of land do ben hi res .

    TUIC INDIAN lUIDdKT . On Tuesday the ITouso of Commons ( numbering at tlio time fourteen members ) resolved itself into a committee on tile Indian Ho venue Accounts , when HirC . Wood , as President of the Board of Control , delivered his budget , in fulfilment of u promiso made lust your . It was a statement of tho llntinoinl condition nnd geiKTiil progress of India ; and he followed up by certain resolutions ( following tho precedents of former yenrs ) relative to the income and charge of the several presidencies of India , and tlio general charges in India and at homo , tho diflurcinco being tho ultimate surplus of tlio Indian revenue . Al ' tor rtoine preliminary observation ?! upon tho Conn of tho accounts , and upon the ro . isoiia which mulorcd it

    impossible to show the revenue and charge of each presidency -with perfect accuracy separately , h « proceeded to state the results of the accounts and the 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 the military ) , 1 , 936 , 362 £ ; the local surplus , 5 , 048 , 073 / . The revenue of the North-west Provinces was 5 , 670 , 715 ? . ; the local charge , 1 , 402 , 238 ? . ; leaving a lucaL surplus of 4 , 268 , 477 / . The military charges of-Bengal ani the North-west Provinces were 5 , 442 , 230 ? . Tho net revenue of Bengal and the North-west Provinces amounted to 13 , 255 , 150 ? ., and the charge on them ( exclusive of the military ) to 8 , 770 , 3307 ., leaving a surplus revenue applicable to the general purposes of India of 4 , 484 , 820 / . The revenue

    of Madras was 3 , 704 , 048 / . ; the charge , 3 } 204 , 2737 . ; the surplus , 499 , 775 Z . The revenue of Bombay was 2 , 868 j 298 t ; tlie charge , 2 , 847 , 392 / . ; the surplus , 20 , 906 ? -. The total n « t 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 ? . The interest On the Indian debt was 1 , 907 , 359 ? ., and the amount of charges paid in England was 2 , 506 , 377 / ,, making together 4 , 473 , 736 / ., leaving a surplus , in the year 1851-52 , of revenue above expenditure of 531 , 265 / . This statement he thought was a satisfactory one , more especially as . in the two preceding years tliere had also been a surplus of revenue , though not quite so large . The year 1851-52 was the last for which he had a complete statement , but he had an estimate for 1852-53 , which slicrwed a gross revenue of 26 , 915 , 431 ? ., a gross expenditure

    of 26 , 275 , 966 ? ., and a surplus of 639 , 465 ? . He was sorry to say that in . the year just ended—1853-54—there "was a prospect of a considerable deficiency , the revenue being estimated at 26 , 586 , 826 ? ., and the expenditure at 27 , 459 , 161 / ,, leaving a probable deficiency of 872 , 335 ? . Sir Charles specified some of the heads on which there would be a-deficit of rcVenue bi an increase of charge , and stated the future prospects of the . chief sources of income—namely , 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 of territory in the Punjab , Pegue , and

    Nagpore , only two European and three native regiments had been added to the army , which was small compared with the forces of native states . Our whole Indian army amounted to 320 , 000 men , while the few native states maintained 338 , 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 of the 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 had been established with- the chiefs of North Afghanistan , and there was every prospect that next year he should be able to make 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 . Wopd enumerated some of tliese improvements—the increase in tho salaries of native judges , and the advancing them to higher situations ; tho amelioration of gaols , and the suppression of dacoity . He

    likewise gave some striking details of that great undertaking , now completed , the Ganges Canal , nnd of the administration of the Punjab , which in three years had been recovered from a stato of disorder and settled in tranquillity , the assessments reduced , obnoxious taxes vopcaled , and local courts established , with nutive agency . Ho glanced at the public works executed at Bombay and Madras ; at tho progress of railroads in India , and the construction of the electric telegrnph connecting Calcutta with Delhi , Agra , nnd Bombay . Ho then stated whnt had been dc-Tio in execution of the act of lasf / ycar , and detailed at considerable length the measures wliich had been adopted and were in preparation for two great objects , tho promotion of public works and a systematic scheme of education in India .

    Some comments followed ^—the House of 14 apparently being satisfied . Sir E . Pisitnv" said , ho had listened with unmixed gratification to the speech of Sir C . Wood , which would bo hailed by the people of India as containing the most promising picture which had ever been held out to them . Mr . II . I ) . Sbymoitk thought tho greatest credit was due to tho right hon . baronet for his efforts in the cause of Indian reform during tho past year . Ilia minute on education would be received with approbation from one end of the country to the other . Tho light hon . baronet , now that the revenue did not meet tho expenditure , ought to endeavour to follow out the policy of Sir R . Feel in regard to tins country —to tako oil' tho taxes from tho nines of tho people ,

    so as to improve thojir cnorgien and enablo U » pn } ( t ° 1111 Uio Kxehoqucr . _ -t J- , so as to improve thojir cnorgien and enablo U » ° nj , to 1111 Uio Kxehoqucr . -t *¦ , Mr . J . U rmuwMOUR hopo . l tho attention of , f ^ to right lion , baronet would bo turned towardsfchdatt tuinment of a system of chonp transit from ono ; d n £ of tho country to tho other . Tho importoirJc&ttM developing tho production of cotton in ^ " ^ j ^ iF ^ scarcely boocugtferntod , and with this view lftfi » 8 fod £ no pains would ha spared to improve tho na ^ atrfjjgg of tho ( Jodavory . Suveral rocont Amorioun wrlMita ; Juul expressed tin opinion tUut if tho rosouxceswt

    Untitled Article

    August 12 , 1854 . ] THE LEADER . ^ 74 7

• Citation
  • Leader (1850-1860), Aug. 12, 1854, page 747, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2051/page/3/