the further
consideration of that measure.

MISCELLANEOUS MEASURES OF THE SESSION.

In the course of the session there were several acts passed of great
utility without any prominent discussion. One of the most important of
these was an act for the regulation of railways, which was brought in
by Mr. Gladstone, and which embodied a variety of enactments designed
to protect the public against the injurious effects of monopoly and
combination, by vesting in the government a controlling power over such
companies as should thereafter come to solicit powers from parliament,
and a right of intervention for the reduction of charges and tolls
whenever the profits of a railway should exceed the maximum of ten per
cent, on its capital. The act also contained salutary regulations
for securing economy and comfort in travelling to the poorer classes.
Another act passed contained provisions of practical importance for the
regulation of joint-stock companies. The main object of this measure
was to protect the public against fictitious and delusive schemes,
by requiring from all joint-stock companies the observance of certain
conditions for the purpose of ascertaining their real character, and
subjecting them to an efficient responsibility. There was to be a system
of registration under a proper superintendence, whereby the names and
descriptions of the projectors, and the particular nature and objects
of the undertaking were required to be enrolled at an office established
for that purpose. Upon compliance with these regulations, certain
privileges were to be accorded to the company, and some anomalies and
inconveniences heretofore existing removed. Reports were also to be
made annually to parliament by an officer to be appointed under the act,
relating to such companies as should have come within its provisions
during the year. A third Act remodelled the entire system of
turnpike-road management in South Wales, the abuses of which had given
rise to the Rebecca riots. The leading principle of this measure was the
consolidation of trusts, the debts of those existing being paid off by a
system of arbitration, to be conducted by three commissioners appointed
by government; the money required for this purpose being lent by
the treasury, and secured on the rates of the several counties. The
consolidation having been effected, all the roads in each county were
to be administered by a now executive body, consisting partly of
_ex-offic