the universal
conviction of the people of Derry, of all classes and denominations,
that, by the mismanagement of their trust, the Irish Society had
converted the crown grant from the blessing it was intended to be, and
which it would have been under a just administration, into something
more akin to a curse. For anything that saps the self-reliant and
independent spirit of a community must always be a curse. Within the
last hundred years Belfast was not in advance of Derry in population,
in trade, in capital, or in any other element constituting or
conducing to prosperity. Its river was not so navigable, and by no
means so well adapted to foreign, especially transatlantic trade. The
country surrounding it was not superior in soil, nor the inhabitants
in intelligence and enterprise. It had no estate, as Derry had,
granted by the crown to assist in the development of civilisation,
education, and commerce. Its prospects, then, were inferior to those
of Derry. But Belfast had the one thing, most needful of all, that
Derry had not. It had equitable building tenures. And of this one
advantage, look at the result! 'Belfast is now seven times the size of
Derry; and is in possession of a trade and a trade capital which Derry
can never hope to emulate, while smothered by the stick-in-the-mud
policy of that miserable anachronism the Irish Society.'

The London companies which have estates in the county Derry claimed
to be entitled to all the surplus revenue after the cost of management
was deducted. This was the question raised by the celebrated
'Skinners' case,' ultimately decided by the House of Lords. The effect
of the decision was, that the society was a trustee, not for the
companies but for the public objects defined in the charter and the
'articles of agreement.' Lord Langdale's language on the subject is
perfectly clear and explicit. He declared that the Irish Society have
not, 'collectively or individually,' any beneficial interest in the
estates. In a sense they are trustees. They have important duties
to perform; but their powers and duties have all reference to the
_Plantation_, whose object was purely public and political.

Adverting to this judgment, it is not Derry alone that is interested
in the abolition of the Irish Society. Its objects 'affected the
general welfare of Ireland and the whole realm.' The city of London,
in its corporate capacity, had no beneficial interest in the estates.
'The money which it had