HL Deb 12 August 1850 vol 113 cc1018-9

The MARQUESS of CLANRICARDE moved the consideration of the report on this Bill.

The LORD CHANCELLOR

said, that his objections to the Bill had not been removed since the second reading. He contended that it involved a dangerous innovation of the principles by which the powers and functions of trusteeship had hitherto been regulated.

The EARL of GLENGALL

concurred partially in the view taken by the noble and learned Lord on the woolsack, but thought it hard that trustees who had lent money on Irish properties should not have power to purchase, and thus to save the interests of their trust. The slaughter of Irish properties was so tremendous under the Encumbered Estates Court, that if trustees were not allowed a right of preemption, their mortgages would be perfectly valueless.

LORD BEAUMONT

supported the Bill.

LORD REDESDALE

was favourable to the principle of the Bill, as enabling the bonâ fide owners of property to obtain their rights in every part of the united kingdom. It was not to be borne, that in any part of the empire a return of six per cent and the best of all titles, a Parliamentary one, should be called an insecure investment for money.

The EARL of MINTO

also supported the Bill. He thought that the same principle that ruled in Yorkshire, with regard to investments in land, should be extended to Ireland.

After an observation from the Marquess of CLANRICARDE,

Report received. Bill to be read 3a To-morrow.

House adjourned till To-morrow.