If the Chancellor of the Exchequer listens to the claims which may be made upon him from all quarters for a Government guarantee to diminish the interest on the capital to be raised, — if he gives a guarantee for £10,000,000 one day to India, another day to a colony, and a third day to a project, say for cutting a great sewer through London, he will find that the national credit, which I am happy to say has been far superior to any private credit, and which during the Late Monetary Crisis never underwent the smallest diminution, will not maintain its superiority.

The only railways in Ireland that did not pay were those which were managed in London; and the results of the Late Monetary Crisis, proved that their banking system in Ireland was on a sounder basis than that of this country.