being lodged, clothed, and fed, or by receiving a sum in money, weekly, to be fixed by a magistrate, with reference to the actual cost of the legal provision. During the remaining fourth of his time, he is to be permitted to work for wages, either with his master, from whom he shall be entitled to claim employment, or elsewhere, if he pleases. Should he remain in the service of his master, he will receive wages at the following rates:The master will fix a price upon him at the time of his apprenticeship, and of that he will be bound to pay him a twelfth part every year as his wages. By this scheme it is made equally the interest of the master not to fix that price either too high or too low. If he should fix it too high, he will have to pay the negro a correspondingly high rate of wages; if, on the other hand, he should name too small a sum, he will run the risk of being obliged altogether to forego the benefit of the negro's labour for that inadequate compensation, it being provided that the latter, on paying, at any time, the price fixed upon him, or such portion of it as may remain due, shall become absolutely free. The negro may obtain the money for this purpose, by borrowing it, and binding himself, for such period as may be agreed upon, as an apprenticed labourer to the lender.

In order to compensate the master, £20,000,000 sterling is to be granted to the proprietors of the West Indian estates

and slaves. It was first contem f plated to obtain repayment o this sum by a half-yearly tax upon the negro's wages for that purpose, to be deducted from his earnings. This part of the plan, however, was abandoned, and in its stead an additional duty was proposed on sugar. This duty was not imposed, and the £20,000,000 may be_fairly considered as a gift by the British nation towards the cause of emancipation.

For this sum the slave population of the British West Indies, consisting of 800,000 souls, were to be freed from the arbitrary control of their masters, and placed under the superintendence of the law.

Such are the outlines of the proposed plan. It may be considered as a scheme for the equitable distribution, among the different parties concerned, of the burthen to be borne in effecting the great object contemplated.

These parties are three in number, the public, the planters, and the slaves. They all receive a certain share of the benefit, and are each called upon to pay something for what they receive. The public is to be gratified by the accomplishment of its strongly expressed desire for the abolition of slavery; and for that it is to pay £20,000,000 sterling, in money. The various advantages which are to accrue to the slave, have just been enumerated; but he is to purchase the immediate liberty of his children, and his own eventual emancipation, by being

subjected to compulsory labour for a certain period. The planter is to be deprived of various things in which he has hitherto had a legal right of property of the labour of his slave for one fourth part of every day; of the labour of the same slave for the whole day, after a period of twelve years-and of all the profit which he might have made of the negroes born within the last six years, or to be born in future on his estate. The advantages by which it is proposed that he shall be compensated for these sacrifices, consist in his deliverance from the obloquy and insecurity to which he is at present exposed, and the increased value which his property may acquire after the establishment of the new system.

This plan was opposed by various interests. Mr. O'Connell moved an amendment recognising the right of the slave to compensation for his whole labour, but this was negatived, 324 to 42. Mr. Rigby Watson, sought to deprive the masters of all compensation, but this was rejected, 383 nays, and 21 ayes.

The plan was finally sanctioned, 286 to 77, on the 11th of June, and a bill was brought in to carry it into effect. This bill after incorporating an amendment moved by Dr. Lushington, making free all slaves who were brought into the united kingdom, became a law the latter end of August, and the time for commencing its operation was fixed for the 1st of August, 1834; so that negro slavery will be at an

end in the British empire in 1840.

How this sudden emancipation of a large class of the population of the colonies is to succeed, and what effect it may produce upon the tranquillity and prosperity of the islands, are questions of the deepest importance which time alone can decide. The islands were exceedingly dissatisfied with the proposed plan, and in most of the colonial legislatures, they protested against the measure, as unjust and impolitic in the highest degree. The planters, however, soon became convinced that it would be madness to resist the demands of the British nation, and instead of carrying out their threats of declaring themselves independent; or of "uniting themselves to some state who will cherish and protect and not insult and plunder them," they turned their attention towards appropriating the greatest share of the compensation.

A very material change was also made at this session, in the policy of the government in its management of the East India empire.

That part of the British empire had been hitherto governed, with some modifications, upon the plan prepared by Mr. Pitt, in 1784, and set forth in his celebrated India bill.

According to that plan, the home government of India was composed of a court of proprietors, who elected the directors, made dividends, and sanctioned all money grants beyond six

hundred pounds, and all parliamentary proceedings affecting the company. They could not, however, interfere with the court of directors, when supported by the board of control. The court of directors nominated the governors of the presidencies, and recalled them or any other servant of the company. They also conducted the commercial business of the company, and under the supervision of the board of control, directed the political government of India.

The executive government abroad was administered at Bengal, Madras and Bombay, the three presidencies. The governor general resided at Bengal, and, aided by three councillors, directed the government, both legislative and executive, of that presidency; as the other governors did in their respective presidencies. He had, moreover, a controlling power over the governors at Madras and Bombay.

There were two systems of judicature, concurrent and sometimes conflicting; the courts under the company and those under the king, the latter exercising jurisdiction over Europeans and residents near the presidencies. In the company's courts there is no trial by jury. There are three grades of European and two of native judges.

There was also a power exercised by the authorities in India, that of ordering any person to leave the country without trial, which rendered the government entirely arbitrary, although this power was rarely exer

cised. Natives were excluded from all but subordinate stations in every department of the government, and great jealousy was also manifested by the direction in regard to Europeans coming into its territories. Trade with this fertile part of the world was confined to the vessels and servants of the company, and even the trade to China was included in the The revenues of India were appropriated to swell their dividends; but with all this power and all its exclusive privileges, the company was constantly embarrassed and in need of the aid of government.

monopoly.

Much hostility existed in the public mind against the company, and as the termination of the charter approached, efforts were made to prevent a renewal of a monopoly, which was injurious to the true interests of all portions of the empire, or at all events to modify it, so as to render it more conformable to the interests of the nation.

Some negotiation had taken place at an early period of the session, between the company and the government, and on the 13th of June, Mr. Charles Grant brought the subject before the house of commons. According to the plan of the ministers, the Chinese trade is to be thrown open, the charter is to be renewed for twenty years, from April 30th, 1834, and the company is to transfer to the crown all its privileges, and property, in the territory of India. Its commercial privileges, are to be in a state of abeyance for a certain fixed

period. The proprietors are to make over all their property in this country and in India to the government; and in lieu of all this, they are to receive an annuity of a given amount, which annuity is to be charged upon the territory of India. It is calculated that the resources of India will be sufficient to supply this annuity, which it is proposed should be 630,000l. a year, being the amount of the dividends which the proprietors receive; and it is further proposed that this should be redeemable at the rate of 100%. for every 5l. 5s. of annuity. It is proposed that the guaranty fund shall amount to 2,000,000l. for securing the payment of the annuity, as well as for paying off finally the capital stock of the company; and that the annuity in question shall be paid for a term of forty years, at the close of which period it shall be at the option of parliament, giving three years' notice, to redeem it at the rate of 100. for every 51. 5s. of annuity, The East India company is to retain the political administration of India for a period of twenty years, at the end of which period it may, if deprived of the government of India, demand the payment of their capital; but if at that period it does not demand it, then the payment of the annuity, is to be continued for a term of forty years. The principal changes made in the frame of the internal government of the country consist in the institution of a fourth presidency for the upper western provinces, and in

the conferring upon the governor-general a more efficient control over the subordinate governments. Slavery is to be mitigated, and to be abolished, as soon as practicable, and no native, nor natural born subject of the crown, resident in India, shall by reason of colour, religion, de scent or place of birth, be disabled from holding any place or employment under the company.

Certain restraints were also placed upon the power of the company's officers, and a control over them vested in the crown. This new plan for the government of India, after having been sanctioned by parliament, without a division, in the shape of resolutions, was again presented in bills, which after some discussion became laws, and materially modified the government of this important portion of the British empire.

The commercial restrictions which had been so much complained of, were relaxed, and salutary restraints were placed upon the power of the company, so as materially to benefit the inhabitants of India, and to protect the European residents from vexatious and oppressive regulations.

The question as to the renewal of the other great monopoly, the bank of England, first chartered in 1694, came before parliament at the same session.

After some negotiation with the directors, lord Althorp, on the 31st of May, submitted the ministerial plan for the renewal of the charter in eight resolu

49.

This vote really decided the question as to the recharter of the bank, and although the resolutions occasioned some discussion, yet they were carried by large majorities, and a bill rechartering the bank was accordingly introduced, and became a law. By this law the bank was to enjoy the exclusive privilege of issuing notes payable in London, or within 65 miles thereof.

The only one of the exclusive privileges of the bank, of which it was proposed to deprive it, was that by which country banks were prohibited from drawing bills on London for any sum less than 50%. No opposition was made to the removal of this restriction; and accordingly it is now provided, that banks beyond the limit of sixty-five miles may make and issue bills and notes, payable on demand or otherwise, by an agent or agents in London, as well as at any other place, for any sum for

which such notes may be issued ; that is for any sum not under 51. But the notes must not be reissued in London, or within the circle of sixty-five miles.

There was, however, another supposed privilege of the Bank, which is declared in the present bill to be one which it neither shall possess for the future, nor ever did possess. It was generally understood that no banking company, having more than six partners, except the bank of England, could do business in London, or within sixty-five miles of it, even as a bank of deposit. The law advisers of the crown, however, after considering the point, came to the conclusion, that this common notion was quite unfounded. A clause was accordingly introduced into the bill, and passed as part of it, expressly authorizing the establishment of banks of deposit, with any number of partners, in the metropolis and its vicinity, as well as in any other part of the kingdom.

Such being the privileges which the bank is to enjoy, the following are the other stipulations of the new agreement. The sum formerly paid to the bank for the management of the public debt is above 250,000%. a year, of which 180,000l. is admitted to be profit. But hereafter the bank is to receive only 120,000l. The debt, also, due by government 'to the bank being about 14,500,000, on which is paid interest at the rate of three per cent., one fourth part of that sum is to be repaid. The repayment is to take place