(From the " Guardian," Feb. 6.) In the way of legislation the Speech promises little ; perhaps Lord Palmerston means to reverse the usual rule, arid that for once promise shall be outstripped try that of performance. Such a possibility is suggested at least by' the despatch^ cleanness, and decision with which the Vice President of the Board of Trade begins to sweep away so much of the work as falls to the share of his department. The speech in which he announced on Friday the reintroduction of | the Partnership Bill of last session, the repeal of the Limited Liability Act and the two Joint-Stock Companies Acts, and the 1 substitution of a bill for regulating joint- j stock liabilities, framed at any rate with great simplicity and breadth, displayed all that vigorous grasp of a subject, strong sense, and clear fluent expression, in which Mr. Lowe excels, and produced a great effect on the House, which always takes pleasure in the successes of an able and rising man. It was an opportunity Well used —Mr. Lowe does not miss opportutunities — and establishes him early in public estimation as the capable and working member of an elderly and not too powerful Administration. j Mr, Lowe's propqsal is shortly this—
ears
that the partners in any joint-stock undertaking, being more than six in number, may obtain all the privileges, of incorporation, including that of limited liability, on condition of their filing a memorandum of certain particulars relating to the constitution of the company, keeping a register of shareholders, and making up an annual balance sheet—in a word, that incorporation, with its immunities, is to be no longer a
privilege but a right, to be open to all who ask for it, be he rich or poor, many or few. Banking and insurance companies he omits unwillingly, to avoid difficulties, or in deference to prejudices. It is nothing but a sound principle worked into its very simplest s h a p e _ the principle that persons should be free to enter into what contracts they please, provided each knows what he is about. But it is the boldest and ablest piece of legislation that we have seen for many
Mr. Lowe followed up his advantage on Monday hy attacking the thorny question '<£ of local shipping dues. The Irish Solicitor- *' General ha:3 a measure for abolishing the Encumbered Estates Court and reorganising
the Court of Chancery in Ireland; Sir G. Grey has a Metropolitan Police Bill; and Lord Blandford, the Premier neither opposing nor encouraging him, has reintroduced his Episcopal and Capitular Estates Bill, the only annual which has yet made its appearance. One other thing, it transpires, is to be done or attempted this year. A Minister of Public Instruction is to be created, with a sphere as extensive as schools (Universities ?) and institutions of science, literature, and art can give him— a Cabinet Minister, with a department, and a seat or Secretary in the House of Commons. For which we are indebted, it seems, to Sir John Pakington,
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Lyttelton Times, Volume VI, Issue 377, 14 June 1856, Page 4
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505Untitled Lyttelton Times, Volume VI, Issue 377, 14 June 1856, Page 4
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