Now the liabilities of the Dock Companies of London represent a total of upwards of £15,000,000. More than one-half of this has been spent in providing the water accommodation of the several docks, and the interest on it of course represents a vast permanent tax upon the revenues of the Dock Companies, towards which, although enjoying full use of the docks, the wharves do not contribute anything. The dock waters are supposed to be paid for by the dues on shipping. As a matter of fact this is not the case, although if it were, the claim of the Dock Companies to be paid for services altogether distinct from the operation of docking and undocking ships, would be in no respect weakened. For a considerable time more than half the goods brought into the docks by ships have been taken out of them again for warehousing elsewhere, and upon the tens of thousands of lighters employed in this service constantly inside, entering, and leaving the docks, the Companies are prohibited from charging one penny; so that, coupling this circumstance with the fact that the dues of the Company are levied upon the register and not upon the gross tonnage of vessels, it will be seen that, practically, the income from the shipping rates is reduced to considerably less than one-half the amount which it nominally represents. But this is not the only hardship experienced by the Companies. The expense and inconvenience in working the docks owing to the number of these barges in them cannot be measured by money loss. In the West India Docks alone there have been 500 barges at one time occupying the water space when most urgently needed for the working of ships. The delays caused in the docking and undocking of vessels in consequence of the glut of craft waiting at tide time to enter or leave the docks are sometimes attended with considerable danger. In fact, this view represents the normal condition of the dock entrances whenever there is an influx of shipping. Every barge entering and leaving the docks, of course entails a distinct service on the Companies for their own protection, for which the parties so compulsorily served pay nothing; and the most startling feature in the case is the fact of the growing magnitude of this burden. Some idea of its extent may be seen when I state that the number of barges which entered the East and West India Docks alone in 1869 was 51,985. In 1874 the numbers had rushed up to 61,390—-an increase of 20 per cent. in five years. Surely these facts speak for themselves, and bear me out in the assertion that there are no other public bodies in London which, having rendered such incalculable service to the port, have been left in such an anomalous position. In fact, you will see that the Dock Companies are pretty much in the position of a man who, having been induced to build a house on a particular spot on the understanding that a tenant would always be found for it, not only loses his tenant but finds himself compelled to