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Maguire) wished to know the tectorate of the Ionian Islands manner in which Mr. Gladstone was connected with views, not of had prosecuted his inquiry, its interest on our part, but of duty, result, and what were the recom- and with obligations which Eng. mendations' contained in his land had contracted towards report. He read extracts of Europe as guardian of the general papers to show the fervent desire peace. Supposing that the people of the Ionians for union with of the Seven Islands desired to free Greece, and contended that be united to free, Greece, there the doctrine recognized by Lord was no evidence that free Greece John Russell in the case of wished for the union, and his Italy, that the people were alone opinion was that it was far better to decide who should rule over for Greece to look after her own them, was equally applicable to

He described the gothe Ionian Islands.

vernment of the Ionian Islands, The Chancellor of the Ex- remarking that free government chequer said Mr. Maguire was as we understood the term did under some misapprehension as not exist; it contained, with to the intention of the Govern- democratical elements, fundament, which, though it could not mental vices, but the policy lay before the House papers of a pursued by England towards the confidential nature, did not desire people had been a generous to withhold information, but was policy. Free institutions had ready to give the substance of the been offered them, which had other documents. After explain- been refused, and the faults of ing his motives in undertaking the Government were not atthe mission to the lonian Islands, tributable to England. and contrasting the new ardour Mr. Layard observed that this manifested by Mr. Maguire in was a mischievous and troubledefence of nationality with the some question, and it was despirit in which he discussed sirable that a stop should be put Italian affairs, he stated his con- to the agitation in the islands. clusions to the influence Speaking from personal knowwhich the sentiment of nation- ledge, he characterized the repreality exerted upon different classes sentations of the malcontents of the Ionians, the masses, there as untrue. He denied that whose character was amiable; the doctrine of nationality could the demagogues and corrupt por- be applied to the case of the tion of the people, who traded Ionians, who had, he said, no upon the sentiment; and the right to claim nationality with clergy. With reference to the Greece. If the islanders would doctrine adopted by the Govern- turn their attention to their own ment in Italian affairs, he ad- resources, there would be no mitted that we must be prepared happier people in the world. to apply that doctrine to our own Mr. Whiteside observed that case; but the principle, he oh. Mr. Gladstone had not indicated served, must be varied in its what should be done with the application by considerations of islands, except that he seemed to prudence and policy as regarded leave it open to the people to European interests. Our pro- decide for themselves. Mr. White

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side thought that, so far as per- Ionians to join themselves to sonal liberty was concerned, they Greece or any other country. had no ground for complaint. Mr. C. Fortescue explained

Mr. M. Milnes observed that, the nature of the papers which although the Greek Government the Government was willing to had shown no desire to appro- produce. He defended the course priate the islands, and treated pursued by Sir H. Storks, and the people as strangers, a feeling said that the islands were at of nationality existed among the present in a state of profound Ionians, which had been regarded tranquillity. as hostility to England. He Mr. Maguire accepted the hoped that the Islands would be papers offered by Mr. Fortescue. governed upon the principles of Lord Palmerston agreed with justice; and not as a British preceding speakers, that this dispossession.

cussion must do good in the Mr. Monsell complained of the Ionian Islands, and convince that tone and spirit of Mr. Layard's people that there was no feeling speech. He defied Lord John on the part of the English GoRussell to reconcile the doctrines vernment or nation but a desire laid down by him with regard to to promote their happiness and Italy, with the denial to the prosperity.

CHAPTER VI.

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East Indian FINANCE AND LEGISLATION— Political and fiscal changes

consequent on the transfer of Government from the East India Company to the Crown-Mission of Mr. James Wilson to India as Finance Minister-Appointment of Mr. Laing on Mr. Wilson's DeathMeasures adopted in consequence of their Suggestions - Loans for India raised in this Country to supply the Deficit of Revenue-Statement of Sir Charles Wood respecting the Finances of India at the Opening of the Session-- Further Statement on proposing a New Loan of 4,000,0001. on the 3rd of June--Observations of Mr. Bazley, Lord Stanley, Mr. J. B. Smith, Mr. Crawfurd, Mr. Danby Seymour, and other MembersSir Henry Willoughby animadverts on the Financial Policy of the Government-Sir Charles Wood vindicates his Measures He makes a full financial Statement on the 25th of July, giving a detailed Account of the Revenue and Expenditure of IndiaProposes a Loan of 5,000,0001. to assist the Railway CompaniesThe Resolution, after some Debate, is agreed to - Three Meusures affecting the Administration of Government in India brought in concurrently by the Government: The Legislative Council Bill, The Court of Judicature Bill, and the Civil Service Bill-Statement of Sir Charles Wood in explanation of these BillsThe Bill for altering the Constitution of the Council undergoes much discussion in the House of Commons-Several Amendments are proposed, but negatived

-The Government adopts some Suggestions made by Members, and the Bill is passed by the House of CommonsThe Policy of the Measure is questioned by Lord Ellenborough and Lord Lyveden in the House of Lords, but is ably vindicated by the Duke of Aryyll and Lord GranvilleThe Bill for reforming the Judicature meets with little opposition in either House, but undergoes some criticism from Lord EllenboroughThe Civil Service Bill is much debated in the House of Commons It is opposed by Mr. Vansittart, Mr. Liddell, Mr. Henley, Mr. Adams, Sir H. Farquhar, and other Members, and is supported by Mr. Crawford, Mr. Danby Seymour, and Sir Charles Wood-Various Amendments are proposed, but without success, and the Bill is passedIt is carried through the House of Lords, afler some unfavourable Remarks from Lord Ellenborough Debates in the House of Lords on the Development of the Resources of IndiaThe Marquis of Tweeddale presents a Petition from Manchester in favour of encouraging the Growth of Cotton-Remarks of Lord Harris, Lord Brougham, Lord Ellenborough, and Lord De Grey and RiponThe

Earl of Shaftesbury moves an Address to the Crown in favour of promoting the Cultivation of Cotton and the execution of Public WorksHis Speech - Observations of Lord Lyveden, the Marquis of Clanricarde, and the Duke of Argyl - Lord Overstone mores the previous Question, which is agreed to.

THE

HE session of 1861 witnessed of British credit, and the Secre

the passing of some impor- tary of State for India was tant measures affecting the do- obliged to resort to the English minions of Great Britain in the money-market for loans. This East Indies. The recent transfer necessity, however, was regarded of the government of those vast as being only temporary, and it provinces from the Company to was confidently anticipated that the Crown involved a series of the effect of reduced military changes, administrative, military, expenditure, together with the and financial, which, though re- adoption of the new modes of garded with jealousy in some taxation resorted to by the Goquarters, received the decided vernment, would in a short time approval of Parliament, and were be to place revenue and expendiin accordance with those princi- ture on an equilibrium, and to ples which in this country are make our great Eastern depenusually identified with efficiency dency no longer a drain upon the and success. The disordered resources of the Empire. state of the Indian exchequer, It will be remembered that in which had marked the close of the preceding session a Bill had the Company's rule, already ex- been passed authorizing the Gohibited symptoms of recovery

vernment to raise

sum by loan under the auspices of a Minister for the use of India, and in the thoroughly imbued with the prin- commencement of the present ciples of English finance." Mr. year it was understood that the James Wilson had been especially sum of 3,000,0001. would be resent out to investigate and revise quired for that purpose. Inthe fiscal system of India. His quiries relating to this transaction untimely death prevented the ac- were addressed to the Secretary complishment of his plans, but of State for India as soon as Parhis official career, short as it liament met, by Mr. Crawford, was, sufficed to inaugurate some M.P. for London. He asked changes of great value, tend- whether the necessity of raising ing to the equalization of re- the above sum was owing to venue and expenditure. Mr. circumstances connected only Laing, who succeeded him, fol. with railway receipts and expenlowed in the same path; and for diture, or whether it arose from the first time, after a long period a falling off of the available of deficit and confusion, light sources of the public income, or began to dawn upon the pros- the increase of expenditure. pects of the Indian exchequer. Sir C. Wood, in reply, exFor a time, indeed, it was neces- plained that large funds had to sary to supplement the defi- be provided in England for the ciencies which existed by means service of India, and, on the VOL. CIII.

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other hand, the main portion of Baronet said that he should defer the means required for railways his full exposition of the finanin India required large remit- cial affairs until he was in postances to India which were paid session of more complete ininto, and drawn from, the Home formation from India. His preTreasury. The sum expected to be sent explanation would therefore paid in England was 7,000,0001., be limited. He referred to his and 2,500,0001. had been ex- financial exposition last year, in pected from India on account of which his anticipation that the Indian expenditure at home; but deficiency of revenue would disthe home expenditure on account appear was conditional on no of India in this country had ex- unforeseen event occurring to ceeded the estimate, while the disappoint it. He was sorry to railroad payments had fallen say that such an event had hapshort, and the Indian Government pened in the shape of a drought had remitted 1,250,0001. less than and consequent famine, the nehad been calculated upon. The cessary effect of which was a loss whole amount was 2,750,0001. of revenue and an increased exshort of what he had expected, penditure. The ultimate result and he had, therefore, found it would be, taking the most un. necessary to exercise the power favourable view, a deficiency of given by Parliament last session. 2,000,0001., which he did not As to the bulk of the expenditure think could be much complained in India, he was happy to say of. Meanwhile the prospects of that there was no necessity for the ensuing year were favourable, borrowing a single shilling. The and Mr. Laing expected shortly expenditure had been very con- to see the revenue and the exsiderably reduced since he had penditure equalized. There would last addressed the House upon be a pressure for money in the this subject. The military ex early part of the year, and rependiture would be reduced in course must be had in this counthe course of the year 3,300,0001., try either to the money paid in following a reduction last year of by the railroad companies, or to 3,500 0001., making a total reduc. a loan in the money-market. tion in the course of two years of From the railroad balances he 6,800,0001.; and next year, 1861-2, had no prospect of a considerable if no unforeseen circumstances sum being available; the only arose, the income and expendi- alternative, then, was a loan to ture would be almost balanced. meet the demands in England.

On the 3rd of June Sir Charles The next question was, what sum Wood made a short preliminary he should borrow. After stating statement respecting the finances the estimated amount of the exof India, for the purpose of penditure in England on account founding a Resolution, to which of India, and the means of meeting he asked the assent of the House it, he proposed, he said, to borrow of Commons, affirming the ex- a sum of 4,000,0001., though he pediency of raising money in the might have occasion to come to United Kingdom for the ser- the House again to borrow a vice of India. The right hon. further sum for railroad pur

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