this transaction, in which Mr. M'Rae
appears, is, I think, a very singular one; he appears in a letter, I
think, from Mr. Cochrane Johnstone, to be the person proposed, who, for
L10,000 would make known the whole of this affair. It is a very singular
part of this most curious story. This letter is sent to the Stock
Exchange; M'Rae proposes, that he shall be the person who is to detect
the whole of this scandalous transaction, and he proposes to himself the
great reward of L10,000. Only observe, what Mr. Bailey has stated to you
took place on Holloway's being acquainted with this circumstance.
Holloway, knowing that M'Rae had been concerned in this, which I shall
term a second plot;--knowing that M'Rae could not communicate any thing,
at least as far as Holloway had reason to believe, that could at all
affect that which was the greater object of the Committee of the Stock
Exchange, namely, the conviction of Lord Cochrane, Mr. Cochrane
Johnstone, Mr. Butt, and Mr. De Berenger, for that is the end and aim of
the present prosecution; and as to the clients for whom I appear, Mr.
Holloway, Mr. Lyte, and Mr. Sandom, I firmly believe, if the Stock
Exchange had not been of opinion they would have derived some benefit
from the conviction of my clients, they would no more have been put
forward on the present occasion, than I or any of my learned friends
should have been. No, gentlemen, the other defendants are the game the
prosecutors are attempting to catch, and it is only for the purpose, in
some shape or other, of confusing and confounding two separate and
distinct parts, with a hope that in some degree the transaction of
Holloway, Sandom, Lyte and M'Rae, in reference to the journey from
Northfleet, on the 21st of February, may be connected in your minds with
the other defendants, that they are introduced upon the present record.

Gentlemen, do me the favour to recollect what Mr. Baily has stated
to-day. It was this;--Mr. Holloway, finding there had been some
proposition on the part of M'Rae, to make known all that he was
acquainted with in the transaction, and that M'Rae had demanded the sum
of L.10,000, before he would be induced to relate that which he knew,
Mr. Holloway applied to the Committee of the Stock Exchange, and stated
this to them, in the presence of Mr. Lyte;--"I admit that we were
concerned in that affair when the chaise went from Northfleet to
Dartford; I admit we were concerned with those persons when they cam