Star. — London, England, 1822-05-04 00:00:00

~, I . ALIEN BILL. 24r: C. rIUTCHINSON 'said, that having seen 'the Hon. Under Secretary of State for the Home Department in his place, he would request him to postpone his motion on the Alien Bill. It wits'well known that the 13111 would meet strong opposition leen! misty Pion. 'Gentlemen, and it would be fair to give them tine for ianniderati on. Mr: DAWSON consented to postpone his motion to Tuesday, the List: inst. and it was postponed accordingly. SCOTCH BURGHS. Lord A. HAMILTON presented a Petition from Perth against the Lord Advocates Bill, which, after a few words -from the Lents ADVOCATE, Mr. KENNEDY, and Mr. J. P. °SAN; KU laid on the table, arid ordered to be printed. • • Lord A. II A MILTON presented a similar Petition from the Free and 'lncorporated Trades of Dundee, in Scotland. The Petition was supported by Mr. J. P. GRANT, and after a d•atiussion between the 1.4110 ADVOCATI, Sir Groacz CLIME, Mr. Hume, Mr. Driemmown, and Mi. BENNET, the Petition was ordered to lie upon the table and be printed. AGRICULTURAL DISTRESS COMMITTEE. Mr. BROUGHAM ',aid the Noble Lord must be aware that the Chancellor of the Exchequer had declared his intention of bringing under the consideration of the House the Report on the .i. 5,000,000 for the payment of the Naval and Military Pensions' agreed to by the Committee on Wednesday last. As the House had not yet come to that measure, and as several Gentlemen . had still Petitions to present, he suggested to the Noble Mar quis the propriety of putting off the Resolutions on the Agricul tural question till Monday night. The M.rquis of LONDONDERRY woul p ut d ut off the Re solutions till Monday next, rather than keep t House in a state of uncertainty regarding them. It must, however, be upon a clear understanding that no private business should interfere to prevent them from hying taken into consideration before an ether business. Mr. BROCG HA M.—Every Gentleman who wished well t the question must wish it not to be unnecessarily postponed.--.' Was it, therefore, to be considered as peremptorily find for IMond v ? The irqui; of LONDONDERRY.—Yes; let it be mkt. stand that it comes ou the very first thing on Monday next. Mr. 'COKE objected to the Resolution of the Noble Mani* which permitted the gi-inding of foreign flour. He added, that if he were present on Monday next, he should object to all the Resolutions proposed by the Noble Marquis. The order of the day for the further consideration of the Re port of the Agricultural Distress Committee was then read, in order to he postponed till Monday next. OFFICE OF POSTMASTER-GENERAL. The Marquis of LON DON D F.lt RY appeared at the bar, and delivered the following annunciation from his Majesty to the Address voted last night by the llouse, respecting the office of Joint Postmaster-General : " The King having been attended with the Address of the House of Commons o yesterday, acquaints the House that he will give directions that the Salary of one of the Postmasters- General shall forthwith be discontinued. 0 His Majesty only postpones the abolition of the office of one of the Postmasters-General, until he shall have had the oppor tunity of considering what permanent arrangement may be ad visable for the conduct of the : business of that department." - AGRICULTURAL DISTRESS. Mr. WESTERN presented a Petition from certain Owners of Laud in the county of Kent, complaining of Agricultural Distress, and praying for relief.—Laid on the table and ordered to be printed. Mr. COKE presented two Petitions on the same subject, from two different hundreds in Norfolk. They both prayed for Reduction of Taxation and Reform in Parliament.—Ordered to be printed. Sir K HARVEY presented a Petition from the Parish of Bradley, in Essex, complaining of Agricultural Di,tress, and praying for relief. Air. WESTERN supported the prayer of the Petition. After a few words from Mr. N. CALVERT, Mr. RICARDO, Mr. Pintales, and Sir W. Da CILESPIGET, the Petition was •rdered to be printed. may ot take to proiide for the charge of the abovementioued pensions and allowances, or any part thereof, in either. of the above modes; and who shall give adequate Newrity for the perform ance of such undertaking." The first four Resolutions were agreed to without. any observation. The fifth having been put, Mi. HUME rose. He said he did not object to the preceding Resolutions, because he eonshiered that' they had nothing to do with the question immediately before the House ;- the fifth .embraced all that really merited attention. To that he objected, and)htended to conclude with moving an Amendment to that Re solution: The' Ministeri had contended for the ne cessity of sustaining a Sinking Fund of T. 5,000,000: they had induced the House to be of the same opinion+. and they accordingly taxed the People for the main tenance of such amount of Sinking Fund. Others had thought, and he was of that opinion, that it would have been better to reduce four or five millions of the taxes. That would have been a more effectual mode of relieving the People, than taxing them for the purpose of having a Sinking Fund. A proposition to that effect had been made on a former occasion, but it was,.rejected. They had been told by the Ministers, and particularly by a Noble Marquis, thati they must do something to meet the debt, and there fore a Sinking Fund of five millions was to be main tained. After that determination, he was certainly , somewhat surprised at the present proposition : for if he understood what was now proposed, its tendency was to'clefeat those objects, to accomplish which the Sinking Fund was supported. The plan was to lessen present charges at the expense of the future. Thus they would have in operation two principles that were opposed to each other. He could hardly think the present plan had been soberly considered;, if it had, and if the interests of the country bad been I duly considered, he apprehended that there would not have been submitted to them so complex a scheme. For years their financial schemes had consisted of shifts and expedients ; they were not marked by clear and distinct principles : but he had hoped that they might at least expect something like simplicity in the plans proposed to relieve the financial difficulties of the country. Such expectations, however, were vain. They had now submitted to them a financial opera-1 tion that was to spread over a period of forty-five years, and which was of a character still more to confuse the finances of the country. The sum to be borrowed--£2,200,000, or whatever was the amount —was so large, that he thought there would be dif ficulty in procuring persons 'to contract for it; he was of that opinion from the peculiarity of the trans action. According to the calculation, the parties who took the contract vioul.i have to make advances for sixteen years, before they would be in a situation to derive any profits. Where would they find parties in a situation, or disposed to make advances under such circumstances? And if parties were found to con tract for the loan, it would be on terms greatly ad vantageous; so that the success of the scheme would doubtless produce much loss to the Public. But why was not a simple plan proposed? Why had they submitted to them so complex a scheme? As proof that it was a complex scheme, he had only to men tion that many Honourable Members, like the gallant General (Gascoyne), had much misunderstood it. Why, instead of the scheme now suggested,' had not the Ministers proposed that the contract should be made with the Commissioners for managing the Sinking Fund? That would have been a measure . simple in its character, and easy of execution. That would be making good use of the public money; and' it would save many expenses, particularly that of a bonus at certain stages of the transaction. He could not see what objection there could be to the adoption of this plan now. It was the plan that formed the groundwork of his Amendment; by its adoption they would be making the best use of that surplus revenue which constituted the Sinking Fund. He concluded with moving, as an Amendment, that all the words after t‘ treat and contract" be left out, and these words substituted, is with the Commissioners for the redemp tion of the National Debt for the sums required." ' Mr. CRIPPS expressed his surprise at the amend ment, as the Hon. Member's labours had been di rected to diminish or relieve the existing burdens of the peoples The plan now before the House would have that effect, and yet it was opposed. The amend ment he could not approve; he would not give his' sanction to any proposition that went to encroach on the Sinking Fund. As to the plan, he could not conceive how the Hon. Member, with all his know ledge of calculations, could call it complex—when the plan was clearly understood then it ceased to be complex !—(Hear, and a laugh).—lt had been said that this plan attacked the Sinking Fund. He admit ted.that it would operate, to a certain extent, in op position to that Fund ; but by the plan being carried into execution, great advantage would result to the country. The Ministers had been attacked for doing nothing to relieve agriculture. He was ft iendly to the principle of maintaining a Sinking Fund to the present amount; but at the same time he contended that the distresses of the country, especially those of agriculture, required immediate reliel'. The best in terests of the country could not go on without that relief. By the operation of this plan, the Ministers would be enabled to make a reduction in the taxes to the amount of 1,800,0001. That would afford a good deal of relief ; portions of the Leather, Salt, and Assesses Taxes, could be given up, which would prove to the country that they were disposed to afford all the relief that was to be obtained from a.climiner tion of taxation. There might be reductions of the expenses of the GovernMent which would afford the opportunity to make still :further reductions in the taxes ; he should be glad if such further.advantages were gained for the country. In 'the meantime, he was satisfied that this plan would operate beneficially for the country, without injuriously interfering with the.interests and objects of the Sinking Fund. He doubted•not that parties enough would be found to contract for the loan ; indeed he understood that many were - ready at the present moment to treat:with the a pplf t Sinxin Fund, and therefore approved of the amenaraliiii, carry ing the plan into execution by such means, if there] were any advantage, it would be gained by the Pub.; lic. With respect to the Sinking Fund , be had sup-, ported it, because .the negociations respectin g the Five per Cents. were proceeding at the time. That ; object had been accomplished, and he 'therefore saw no reason for not now directing the Commissioners for the Redemption of the National Debt to treat and contract for the sum; required. It was the duty of the House to afford all possible relief from taxation to the country, and he therefore was ad of the ame lioration that would result from the Minister's plan: he Was at the same time of opinion that it ought to be carried into effect with all possible savings, and for that reason be should support the amendment. Mr. J. MARTIN begged to know if the office were still open for the sale of Government Annuities? He asked this question, because he wished to know if the Chancellor of the Exchequer meant that it was light for the country, at a time like this, to sell An nuities at the cheapest, and buy them at the dearest rate ?—( Hear, hear.) Mr. RICA RDO said, that all now concurred in one point, that the nation ought to be relieved; for this reason, those who sat on the Opposition side had, not the slightest objection to the plan for the assist ance of the distressed by the diminution of taxation.' The only question was as to the most economical mode of doing so. The proposition of the Honour able Member for Montrose was the same as that of Ministers, only he wished the contract to be made on. the most advantageous terms. Whatever bonus the private contractor obtained, would be a clear loss to the country, with the accumulation of compound in-' teiest. There could be no doubt that if the sum re- quiied were now taken from the Sinking Fund, at the end of forty-five years the country would be in a better financial situation than if the money were bor rowed of individuals, who would, of course, make a profit of the public wants. He was an enemy to all complicated schemes, and was for avoiding a crooked path when, there was a straight one before them lead-, ing to the same end. The clear and obvious 'course' was to take the sum from the Sinking Fund; and if I Ministers did tot do it, it was only because they had' so short a time since so repeatedly and successfully called upon the House to support the Sinking Fund. He did not think his Honourable Friend (Mr. Whit more) quite consistent in voting for the amendment, having o earlier in the Session voted for maintaining the principle of the Sinking Fund inviolate. Mr. T. WILSON contended, that at the present moment, while the Three per Cents. were at 78 or 79, Ministers could make a more advantageous bar gain than at a subsequent period when they were lower. Besides, they would thus avoid the contin gencies of war. It was just as proper now to sup port the Sinking Fund as in the beginning of the Session, because the period might not be far distant, and .he hoped it was not, when Ministers would be prepared to pay off the Four. per Cents. The pre sent amendment was an attack upon the Sinking Fund by. a side wind. Though relief from taxation was very desirable, it was even more important to keep faith with the public creditor.; . and if that faith were not kept, the Agricultural Interest might suffer even more severely than at the present moment. The SPEAKIER having put the question, it was or dered that strangers should withdraw for a'clivision.. Mr. BROUGHAM was of opinion chat some an swer ought to be given - to the cogent arguments which had been advanced by his Honourable Friends. He congratulated the Chancellor of - the Exchequer on his having at length consented to reduce•tazation. He had begun well ; for two millions was a good deal for a man who a short time since said that he coukl-not give up a farthing; and it should not be his fault if he did not reduce several millions more. It an advantage were effected in the contract from the probable failing of the Funds, as bid been stated by the lion. Member for the City of London, why not contract for a loan of twenty millions, and ap ply that sum to a Sinking Fund, or any other useful purpose? There was also thirty millions of unfunded debt, and why not fund that debt if such advantages were to be derived from it'? It was quite obvious that the taking the money from the Sinking Fund would be the mode most consistent with economy ; for by doing so we should retain to ourselves the profit which must go to the contractors, be they who they may. It necessarily followed from this plan that we borrowed, and that payment was deferred to our posterity. As to the Noble Lord's plan of the Sinking Fund, to let the five millions go on accumu lating at compound interest fur ten years, until it amounted to eight millions ; during that period no taxes could be taken away, but after its expiration, the fund would be applied year after year to the re-I duction of taxes ; while the country was in its present lamentable state of distress, he contended that we had better have no such Sinking Fund at all. The five millions ought to be taken for the repeal of taxes, to be laid on again when the country was sufficiently re cruited to bear it. But then came the question, since they were to have a Sinking Fund, what were the best means cf employing it Now he had a plan which he would state to the House, and which he con sidered to be of much more value to the country than the Noble Lord's. He would take the five millions and let it operate by simple interest only, which would give C. 2.30,000 a year, to be repealed in, taxes immediately. In the ten years this would reduce 0,500000 of taxes, in twenty years five millions. By the Noble Lozd's plan, in twenty years they should have remitted four millions of taxes. At twenty-six years the Noble Lord's plan would overtake his, and after that it would have the advantage. flow, he would ask, did this correspond with the Annuity el,O The one made the expense fall upon the future generation, and the other took it off. The two plans were directly opposed to each other.— With regard •to the Chaiteellor of the' ExCliequer's plan, i!..s novelty Would raise the N vairket against • Mm must k always be bribed tato such tratinc. therrdid not understand from experience.-- market into which the Right Honourable Gen tleman would glyttittst necessarily be confined. lie eitreated the House to consider what mug needs fol. low such an nrrangentent. There was no difficul ty negotiating a loan, because personshaving money 'Pare "Odd 'MN& it hi that, knowing that their were immediate. Btu in this' case the bid. must necessarily be contracted, and cunfired irge capitalists. That private individuals, there. shotild embark property hi it Was not to be be. hewed, when they saw the very few persons who e l . tered into tontine concerns, note ithstanding the mear taken to puff thew. A few, who wished to provid, t for their children, by advancing sums at their birth, to be receivsd when they became of age, Migiit chase in this Fund; lint the naturally limited chat -J r .. ter Of the market rendered. it certain that persr,n. : must be•bribed, in order to induce them to cotitm c z. In any case en advantage must be given, and he in treated the House to think whd was to pay to it: them only look at the ridicule which would attach to their committing such an absurdity. At the seer,: time, when they were locking up 5,000,0001. i n a chest, and lending money to great disadvantage,th e y were tei go.into the market and .borrow money at a great loss. Thus,. whether they were borrowers (.r lenders, the profit always went to the contractor, Any Gentleman in private life who pursued a simi lar course, instead of being sen: to his own mathant, would be taken to Bethlem Hospital. The Honour. able and Learned Member then put the case of a vi vate individual borrowing mom.) , at di,advantage, when he had the means of paying the debt in his own hands. He saw no reason to shift from the ground, upon which he first heard and understood it, and upna these grounds he should vote for the amendment. The CHANCELLOR of the EXCHEQUER said, it was the good fortune of this roposition to rectiv2 the support of both sides of the nouse, only th st son .e desired its modification. The other siJe wisheJ t•, support it by breaking down the Sinking Fund, LL iii:! they, on the c:.nurai y, thought the preservatio n ( the Sinking Fund .necessary to its being carried int , effect. At the commencement of the Session. th e Hon. and Learned Gentleman pi oposed the leini,L bm of taxes to the amount of the Sinking Ftoid. they thought the honour, and the • iguity, and ti•c public faith of the country, could only be maintah:ei by making the Sinking Fund in.iolable. Upon strength of this determination they had been eitahko, to execute a financial operation, Ls hich had net b e e a equalled in importance of late years And now, ;I v the confidence of the high public credit whic:l..n,•v had established, this other proposition was veliztl.ci upon. Ely it, £2,000,000 would be given to a IN %'? the existing distress. The Hon. and Learned G.:.. tleman said that it uould re•is upon posterity; ;;;;% be contended; it would do so in a tair and kis Li:- gree. He thought the Hon. and Learned Gentleniar. ha fallen into the error of many otbels, who a-s• net that at the end of forty-five years we should bin: more debt than we should hare had without the Baou6nist—" I said we .hart ha. e •-••T - more I"3—The CHANCELLOR of the EXCHF.QuEit willing to allow that we shall have paid mos.. ti.i ohe period when we had paid less for another. He did say that nothing could be more just and equitable than such a distribution of time for the payment. Time was a great difference between paying 3.000.0001. a-year for a number of years, and 5,000,0001. now. He did not say that.we were in that extreme Liiarea which Some Hon. Members.believed ; but if we we:e in that extreme distress, the eiffeience in the payment of these sums was still more considerable. Gentle. men on the other . side had all 'become exceedingly jealous of .tbe_intetest of the Sinking Fund, and sai:i that this plan was an encroachment upon it. A short illustration would show the error of this suppodtion. The existing fund of 5,0e0,000/., was applied to tlx extinction of 800,000,0001. of debt. It they tor: away 2,000,000/. of -that Sinking. Fund, they would • destroy the operation-of that amount upon the National Debt. But if they took 2,000,0001. 4' this plan from the dead expense, it would have noiliag to da 'ski) the interest - upon the National Debt,'because it was a new kind of debt, and which would expire at the termination of a certain number of yearsashether the contract was Made or not. Although it was na ee croachment upon the Sinking Fund, it was quite po„- sible that the money might be taken out of the mark.:. —But so it might in the contract for a canal, or lc! 'foreignloans. This was a possible evil to which sec.' transactions were ail liable in common. The Hon. ( lett:. had also made a calculation as to the Sinking Fund. He proposed that it should operate at comman rest only, and that it would thereby give 2,500,000. of taxes to be repealed in the first ten years; in twenty years 5,000,0001. and in thirty years 10,000,tx41. Now the measure of his Noble Friend would proviic for the reduction of 1'2,000,000/. at the expiratior thirty years; and upon every succeeding ten years would give an excess of saving over his of 1.500,000 1 . With regard to the taxes to be reduced by the opera tion of the general plan, it would not be expediet::a come to any determination upon that point :it sent. Nothing could be more unwise than to fix t,•‘!:: any particular tax arprezent : it would tend to ea:- barrass the course of trade, and be very injurious t' general interests :. thc effect of the plan would be :0 place at the disposal of Parliament 1,800,00 e!. ei taxes, to be remitted either this Session or in the ginning of the next. While they wci e upon the sn'a• ject of taxes, it might be as well to look at wh-ir had already been done in the way of remission since. the peace. The amount of taxes taken off was twe.as millions; and if the remission of taxes was that gte' panacea for distress which it was represented to to what a degree were the country indebted to Par liament for this very extensive r emission. With lc' gard to the terms of the negoeiation, he was net so young as. to submit null a measure to the Eh e without some prospect of being able to effect it. II had the satisfaction to state, that it was not likely t' be confined to one person, hut that it would be or' to public competition. Were they going to make 3 wise or an improvident use of the money to be raisc-: by this annuity ? It was to be applied to the redo`" tion of taxation ; and if Honourable .Gentleinen wet - . not satisfied with that; they had better' suggest set' other use fot• it. He eßtiiely disagreed with the rg-' posed amendment. „ BROUGHAM, in explanatian, said that had never expressed a wish fur the final and ohin!3.- 1 1 , . , ... •—. _.,:r.T rui T li t ril lirlMlC 7 7 l- /n ,, 7 • 7 lrrz •- • - ' f.. 7-- - . -- : r ‘.- —•- r• - •,'' " - ' • • - • ,-. .. ....• 7,111/r. 7 - 7119giorrrimmwor.c. N -, • . .., • • .- ... . . • - Ye a .. . . , . . ,•, - • • - - .,.. . - • , , L . A . • - • : . _ , _ .... . - • , . • .. • • . _ . • N ' - • • , .. . •s . ~, .. • .A...-z-,..1. v.. • • • osi i rt • . v . --- . . , k c . r r, • bY the of thk chirp has boss laersosed ue s _ itie imaire lonadors- o i GoTerpi ceitor grikzsch a—ViearAW4lffrf glitabiFf• 'him. 24 . : ~....,r,......37...-, disedvantage hi t g o my diadvatitartei, , ofaer):—llkd -,lii t. dal 4 lions as t 1 , saws o f t at e *aim et din: ling of Chan . eery , .... - Would direct . his tk's and ratted" terra ° f - . about icofo,ooot 4 tbo saW auna'nf 4,,, ' u. . 4 4....... A5 ... ~,i . they would iontraiwith ta rt' entsi,rf The mar attention 0- ' "4. Thatit is shaopioloa, of ' N ..1 .._ um pitik e tZtor onion this the practice or the Oeltrt , ablict the rOte thlitOt &men s tp 40 ptiblie si‘ eistreates of Chancery was Independent of the coMmon laws. .. meat at:cum - illation of soma Sante ooing it would be After a few words from Mr. Hosuovsx, the Petition was or.' the country l it ianspedlant to nuke , 11 4 this burden io as to insure its final • . • • , *her by an equal terests to throw any obstacles in •the\isiiy 0 !bete low iltie dered to be printed. • annual annuity, telleninable within "pearo,tit to, permanent an- fi nancial plans of -the Minister. .. • 'in negoc Mr. J. P. GRANT moved for certain Accounts, she n - g n - the .nulties, with such provision for the remotest thereof to is re- M r. WHITMORE agree d i n w h at h a d f a lle n f r om to-spare eum that had been expended on the Sinking Fund from the yea r oiled by the Act 34 Geo. 111. e. 16. 2193 to the Tetrleirt ' also the sum of Stock purchased there-the Hon.ouiable Member for Montrose (Mr. flume): returns i 4 ~ 5. That it is the opinion of this Catmint*, that the Com- with by the. Comntisakncrs of the National Debt ; also the total that'Honourahle Mernber's views on this subject he deft mti MiIIiOUCTS of his Majesty's Treasury should treat and contract • . 'amount of the Unredeemed Th ree and Four per Cents. &C.— (subject to the approbation of Parliament) with suck bodies po- considered to be decidedly cgorect. Are - thought it to large Ordered. 11? and c_o_rp_ ,A o_ra r tl, o .k r f t . h u e . r . p . e . rs:ll, th a p s x m h... ay be .....n w t i in ilin .i. g a to n : n o ‘ d in e n % I _ _ would be much better to apply to the Sinking Fund, fore' sly -...i..-‘;.: o ______ .• - '_ . NAVAL AND MILITARY PENSIONS. The C El ANC ELLOR of the EXCHEQUER moved that the Report of the Resolutions agreed to in the Committee on provision for future Payments of Naval, Military, and other Pensions, be received. Mr. BERNAL observed, that he was not in the ll:mse when the Resolutions were proposed on a for mer night, but he had read accounts of what trans pired. In much of what had been stated he perfectly agreed. He doubted not that persons would be found to contract for the proposed loan—for a loan in reality it was—(licar, /scar.)—But he wished to learn from the Chancellor of the Exchequer; wha t securi ties it was proposed to take for the fulfilment of the contract? —(Hear). —lf there were no securities ob tained, and if the parties found that they had not an advantageous bargain, they might have the Chancel lor coming down to the House, and informing them that there was a refusal to fulfil the contract. Against ' such a contingency they ought to protect the coun try. Then, as to the terms of the contract, it ought to be recollected, that if a war were to arise in the course of three or four years, many of the Officers would immediately be placed on full-pay. Some pro vision ought to be made for the occurrence of such an event.—(An Hon. Member near Mr. Bernal here made some communication to him.)—But this point be would not pursue further ; he understood it had been satisfactorily explained on a former evening, therefore all he now wished to know was, what se curities there were to be for the due fulfilment of the proposed contract? The CHANCELLOR. of the EXCHEQUER ob served, that to detail, -at the present moment, what arrangements it might be in contemplation to pro pose, would only be to waste the time of the House. If the Resolutions had the sanction of the House, it would of course be his duty to submit to it the terms of the proposed contract before it was finally agreed upon. The question of securities, he apprehended, was perfectly easy. The transaction was deemed to be of the nature of ordinary loans: the parties con ' tracting, it would be recollected, were to make the adzances to the Government, and they were to be gradually repaid. The Report was then brought up ; and, on the question that the Resolutions be now read, General G A SCOYN E begged to state, that he now • bad no objection to them : what he had urged on a former evening was founded on a mistake, into which he had fallen in considering the ResolutiOns. He now _fully approved of the principle on which they pro ceeded.—The Resolutions, which were as follow, were then read : • " 1. That it is the opinion oft)* Committee, that the amount • of Military and Naval Pensions, and Civil Superannuations, may be estimated•at about £5,000,000. ".y nut it is the opinion of this Committee, that this sum, calculated as an annuity guaranteed by 'Parliament, may be con sidered a. a burden, forming a charge upon the public income of the Country, for the lives of the annuitants, subject to such re- Tilations as are applicable in each case. " 3. That it is the opinion of this Comtnlttee, that the amount