were justified in raising money upon these securities. If, therefore,
the securities be arbitrarily confiscated by Parliament, it is to
Parliament alone that the holders of those securities must look for
redress. But whence are funds to be obtained for future improvements?
It would be well if the "faithful Commons" would take the trouble to
find a satisfactory answer to this obvious inquiry before they finally
decide on ruining the City of London.



PART II.

THE CIVIC REFORM BILL.

The Commission of Inquiry--The New Wards--Aldermen and Common
Councilmen--City Expenditure--City Receipts and Removal of
Restrictions.

The Commission of Inquiry.

In the year 1834 a commission was appointed "to inquire into the
existing state of the municipal corporations, and to collect
information respecting their defects." These commissioners applied
themselves to the discharge of their somewhat invidious duties with
both earnestness and impartiality, and in their Report, published in
1837, acknowledged the superior excellence of the London Corporation
as compared with other corporate bodies. They readily admitted that
the Common Council possessed the necessary powers to effect whatever
reforms might have become necessary through the lapse of time. They
also bore witness that the Corporation had already of itself corrected