§ Mr. Pease moved the appointment of a select committee to inquire and consider how far it might be expedient to take measures for securing that the public lines of railway be laid and hereafter maintained at one and the same standard width, and to report their opinion thereon to the House.
§ Sir H. Verney moved as an amendment, that his Majesty be graciously pleased to appoint a royal commission to consider and report on all proposals for railways or canals which might be submitted to this House. He said it was his opinion that a competent body ought to be appointed to judge of the comparative merits of the railways, on the principle on which such authorities were appointed in France, Belgium, Holland, and other countries.
§ Mr. Warburtonsaid, it was absurd to lay down one rule for all railways. He felt it to be his duty to oppose both the original motion and the amendment. In his opinion it was too late, after the number of railways that had been completed, or the works of which were far advanced, to attempt to enforce such a regulation as the hon. Gentleman contemplated.
§ Mr. Gillondid not think the proposal too late. He considered that the legislature were bound to interfere. These speculations, which were rising up so rapidly, were not for the public good, but solely for the benefit of the parties engaged in them.
Sir G. Stricklandfelt bound to oppose both the motion and the amendment. He was opposed to any royal commission having the power of riding over private speculations. After this point had been investigated by the committee, it was decided that no commission could be appointed, or one which could be in any way like that contemplated by the amendment. He thought that the original motion did not stand upon any better ground than the amendment.
§ Mr. Poulett Thomsoncould not agree to either of the propositions then before the House. With regard to the amendment, he was quite surprised to find it 1162 supported. Those who had given that support could not have read the report of the committee appointed last Session, or, if they had read it, they certainly must have attached but very little importance to it. The question of appointing a royal commission had been closely investigated by the committee, and it was found not to be practicable. The committee had recommended to leave railways, like every other speculation, to the discretion of those who embarked their capital in them, subject only to a severe scrutiny from Parliament. In that recommendation he most cordially concurred, and he hoped the House would set the seal of its approbation to the report of their own committee. He did not deny that capital had been thrown away upon these private speculations, but then they would find it impossible to regulate the expenditure of capital by any Act of Parliament. It was by the Government not meddling with capital that this country had been able to obtain a superiority over every other country.
§ Mr. Humewished to know whether any advances had recently been made by the Exchequer Bill Commissioners. If there had, it was, in his opinion, only adding to the mischief that had been already done, by encouraging speculations that were ruinous to parties.
§ The Chancellor of the Exchequerreplied, that except in cases where they had been already engaged by contract, he doubted that any other engagements had been entered into. In the early part of this Session he had intimated that parties concerned in railways ought not to rely on any such advances. He wished to leave such speculations to the private capital of the parties interested in them.
§ Both motion and amendment were negatived.