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IMPERIAL PARLIAMENT. '--'-,-'-.-'--',-...-----------........--






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GREAT WESTERN R.JLW.-I.y.n arrangement is now in progress, and approaching completion, for the purpose of transferring the whole property of the Kennet and Avon Canal navigation to the great Western Railway Company. The question of transforming the canal into a railway has for some time been under discussion, but at a general meeting of the Kennet and Avon Company, on Tuesday, it was resolved unanimously that an offer of the canal be made to the Railway Company. There is no doubt, whatever, of the issue of this negociation, not only fromwhathat already passed between the parties, but from the obvious interests of both. The Great Western Company would at once monopolise the whole of the car- rying traffic from Bristol to London, through a double line of country (viz., the present line and the Kennet line), but a great part of the Canal lies parallel to their Berks and Hants branch line, and within a few yards. lo the Canal Company the advantages of disnosingofa gradually declining concern, and of avoiding the future competition of a powerful opponent are self-evident. The purchase will equal in importance some ef Mr. Hudson s in the railway department. RAILWAY SPECULATtON.—The extent to winch specula- tion upon 'shares' has been cartied makes me:i dissatis- fied with the moderate profits of legitimate trade. Great and sudden gain is universally ran to this end all sorts of tricks and devices must be adopted to keep alive the fluctuation in values which stimulates the gam- bling spirit. Ttie spirit tersall's is the same that animates the share-market, Jnc pursuits of both ends of the metropolis are assimilated. The universal conversation is of small risks and great gains—of money skilfully caught at a propitious moment in its passing from hand to hand. Every one wishes to join in the fascinating pursuit, and no shame is felt in doing what everybody else does. The bench and the bar. the church and the legislature, the mart and the club, all Me in displayingtheir acutencss in the calculation of chan- ces and triumph in the spoil. It is a moral disease that, ls beyond the cure of law or legislation. No,- is it to see whence reform is to come, The bursting of some of these bubbles, of which men are now so eager in the pur- suit—a good swinging crisis and widespreading bank- ruptcy-might give men pause and force them to reflect on the shabbiness or deeper criminality of their own con- duct. Misfortune is a rare tcacher of morality. Despite of the misery it would occasion to thousands, such a visi- tation, were it but certain by its bursting to purify the moral atmosphere-to terrify men into contentment willi honest moderate gains—to remind them of the happiness derived from honest pride in an unequivocal reputation—■ would he welcome with all its woes,—Spectator.