§ Sir Harry Verner moved that an Address he presented to his Majesty, praying his Majesty to appoint a Royal Commission, to whose consideration should be submitted every proposal to construct a railway in any part of Great Britain and Ireland before the introduction of a Bill for the purpose into Parliament. He proposed that the duty of the Commission should be, to report whether every proposed project for making a railroad could be carried into effect. He would also have it distinguished between the bona fide projects and mere stock-exchange bubbles. On the whole his object was to favour, not obstruct the construction of railways.
§ The Chancellor of the Exchequersaid, that if he felt it his duty to object to the proposition at the present moment, it was not from any indifference to the importance of the question itself, but because this was not the fit time at which to submit it to the House. A Select Committee had been appointed, to whom all these matters had been referred, and it would be better to have the evidence taken before them, as well as their observations upon it, before any decisive course was taken. The question was one of importance, and not to be dealt with lightly. The present proposition would give to the Government greater power over the capital of the country, than he at present thought the House would or ought to confer. He was as anxious as any man to separate the interests of the stock-broker from those of the engineer, and the work from the jobbing; but at present he hoped the hon. Member would withdraw his Motion.
§ Motion withdrawn.