Star. — London, England, 1803-06-14 00:00:00

I. ^ „i rict 4- Tile S re- : VII nid teed. and 'fl j Ince 111:11 per t:•e r th: par_ kusa r up cent. at a :cos. *fly. I (fit! which Ora iubie cedia :nt to s fiat f dif y. finis int& It. no :i. the :owes a ffep let it T rnns Ali: ch it.--- rty of lar ak,r doi.JA huuld t!..e cn-rt ant, f out: ye nvj •1.: ;ii ',Li: . el 0.;; I conceive that th 4. addition of to millions may b e let down as the amount of the tenants rows, w hi c h, reckoning at the rate of gd. in England, and 6d. in Scotland, will produce a (mall funi equal lb about soo,oool. As to the amnion of falaries, pen nons, and incomes arifing from particular prnfelficins, it is Rill more difficult to be afcertained. Let us fups pore it to be 4 millions, of which t-zoth would yield, by the taxation, 100,0001. The proportion to be railed from trade muff Rill be more conjedural and uncertain, keit% that In much muff neeefarilydepend upon the particular fuccefs of each individual. I Mould propnfe one.twentieth part of all incomes of 601. per annum, and upwards, to be the fum taxable, which would yield the amount or 625.000 L fo that this tax would produce in all to the Revenue the fum of about 4,700,0001. The Revenue adually arifing from the late income Tax was four millions. I have mentioned that in the defcription of property which employs no exertion of induary, was to be included the intereft of money on government fecurity. lam well aware of the delicacy which has been felt by this Houfe in irnpofing any manner of taxation on that !pecks of property. but I am Cure it cannot be con tended that at a time like the prefent, when every pciflible exertion mull, from necelfity, be adopted, that even that fpecies of property fhould alone Rand exempted. The only queftion is, by what mode !hall it be brought to contribute its doe proportion ? Under the brad of that which is lets dependent on !kill and inciftry, is comprehended land, the interelt of money in the funds. property belonging to corpo rations, de. With refpea to this fpecies of property, there is lets necefllty for difelofure in applying to it any given rate of contribution. As to property ari fing nut of falaries, trades, profelfion, it would be more neceffary to invelligate ; and for that reafon it would be requifite to employthe intervention of Corn. sniffioners,fomewhat upon the principle adopted in the affeffment of the income tax. It is propofed, however, that the new Commiffioners &mild be invelled with loch powers, and ad in Each a manner as to weaken, if not remove the objeCtion as to difclofure. It is propofed. that in regard to land, that the tax Thould be laid upon the net rent, as tar as that can be afcertained ; and I conceive that it may generally tie afeertained, without any unplcafant inveiligatinn. The rate propofed is ts. per pound. or 5 1. per cent. on the proprietor, aad gd. per pound on the tenant. In England, where elision invariably the tenant pays the poor's rate, that proportion of affeffment would apply ; but in Scotland, where the tenant does not piny any poor's rate, it is intended that the tenant fhould pay 6d. in the pound on his rental. I have endeavoured to find out by various inquiries and grounds of conjeiiure, what eftimate might be made of the amount of the different branches of re venue that do not depend upon the Mill and indultry of individuals—but I am aware that what I can Rate on this fubjed is extremely doubtful. At the time of the income tax. the whole income of this nation was animated at 80,000,000, of this the part which could be aliened might be taken at from 6o to 7o millions. It would then Rand thus.... Lands and Tytbes Hodes, Buildings, &c. Scotland Funded Property, Intereftot Massey, &c. a,coo,coo 6p00,000 3P 00 4 00 18.COopco Properiy (rain VOlrefloos In Fundy; 'Parts from Navigation, /te. - 4iXOPCO 7pC0.000 The Abetment upon tide would be lents of Tenants might be eftimated at 20,0c0p00 anapti. in England, and 6d. in Scotla_d, would pro - goopoo &darks and pre:anon' It molt be very difficult to estimate, but fay The profits of Trade mull. be Rill more difficult to ultimate, and the prc.luce of the tax mutt depend upon the lureds of the regulations adopted in the collection, yet, mak.ng deduc does of every kind, allowing for the operation of a kale by which per ous not having more than 601. a year be exempted, and tli,,fe between that fain and t Dub pay on a de eania, ratio. I efilmate this bradch ac Being in all on Property Total 67d00,000 3475000 - soon„ - 6ss,ocip . 4 4 CC ! ,° ` )° . . At the time the Income Tax was impofed, it was calculated that 80,000,0001. annually might be the property-of the country; but it is propelled that a greater mars of property ill mid be included in the operation of the prefent execute. The ComesittLe will, I doebt not, concur with me, in thinking that every fpeeies of property ought to be made to contri bute to the pox:lit:li of the State. FunilecLproperty, though protefted by public faith from any &panne .4nd direa charge, oupht to be of effed equally with every other. It will be nne tithe objeas of the pre fent meafnre to effca this. It is pro d, however, in the 6tf inßance ' that all perfoes baying property in the funds fhould make returns to theCommifftoners where they refit', (and the CommiSeners will be con- Sit uted with particular reference to this end), Rating what property they have in the hinds, in order to its being edified along with their abet means. If they do not make loch return to the Comeniffioners, it will be prefumed that they wave their right to do fo, and that they coolest to their being rated 51. per cent. on their dividends, which will then be made aufwerable accordingly. It is to be ohlerved, however, that this mode of atfeflement will be entirely optional. It is underftood, however, that all foreigners not refident in this country &all be entirely exempted from the tax, and that their agents will be entitled to tecewe their dividends without any dednaion. The amount it Ways and Means then will be— Claims and Fleic Ditties a. ohm • Snow. Tax vu Property - • 4,:04000 Taut sti.rooPoo A confolerable proportion of tbefe roCourecs, how. 'rya, r• mint be made good within the carrel* year. I cannot e..leiri.ite orison a greater fum being colleetd than 4 4 5c0,0v01. It is neceffary, therefore, that tbould be raifeJ by other means, and I I,a.e now to inform the Committee that I have this day contracted with feveral refpcilable Bankers of London for a Loan to that event. It remains for are to hate the terms. They are as fallow:— * Ear every tea fuhreeibLd the. Soak:air receiver ao Canaria at rlif - Bo lt,dueed St• The bidding was it the I.arz ~Asosky rad the lower' offer was 6a sd. Lhfcurrat 6.46 14 0 4 6 4 4 o S IS 3 li 6 3 .acs 6 6 Being a bonus to 'the Ccmtrador oftl. 6s. 6d. I have to coop mid:ate the Honfe and the country nron the vottc.tifi-n of a bargain, in citcunsliances lile the paint, upon tams favourable 1 mad fa vourable as they are for the pubtc, I ttnkthat t!L:y will tern out no lets advantageous to .ne contraetor.s. I am lure, indeed, that the Iloufe mule ever be fort-) when h. numable and public fpiri , .ed men, who come forward to atsll the nation, futfer any lois from their zeal to promote its fervice. There .tre few intianccs in which loans have been contracted far on terms snore beneficial to the public. Two there are of more favourable terms, in 1799 and in 1800. In the one there was, according to the price of (Locks at the time, a&ually a premium to Government of 6-7 f. and in the other of to. But what were the circumftances in which fuch favourable terms were obtained? It was at the commencement of the plan for railing a confiderable part of the fupplies within the year, firft when the A&lfed Taxes were tripled, and next when the Income Tax was impofed. It was to the confi dence which thole meafures infpired, to the aid they gave to public credit, that fuch Lavontahle terms are to be aferibed. Seeing then the benefit of that fyßem of railing a confiderable part of the fupplies within the year, it remains for us to adhere to it in the certainty of deriving from it fimilar advantages. There is then to be provided for the interest of 16 millions, 3 per cents. created 5y the Loan There was intereft 480,00 n Annuity - 32.633 The whole charge of which, Including the one per cent. tur the extindlon of thz Capital would amount to 6;643 Towards- making provifion for this Turn, it is my intention, in the &ft place, to attempt what has long beets held very defirable, Tome alteration in the mode of Collection of the Receipt Tax, and by which I hope a contiderable additional revenue will be gained without any inconvenience to the public. It is my intention that the perfun paying money (hall be entit led to demand, fiont the perinn t• whom he pays a receipt, the duty on which in no cafe (ball be lefs than ad. nor above ss. I eßimate the produce of this at azooxsol. It is likewife intanded to make inch addi tions to the Confolidated Cußoms in the Bill now be fore Parliament as (ball produce a 2 o,ccol. By further regulations in the Miffed Taxes 2 go,ocol. making in all the (tun of 690,0001. applicable to the payment of the interea of the Loan. I (hall now recapitulate the different articles of the WAYS ♦ND MLANS. Malt In Hen of old - • - 730,0.:4) • Land Tax, on Paden', Ste. in lieu et old Land, dm. apoopo 0 Exchequer Bills, of which leave has been given to like four millions, but will be sled only - 3,0cc,000 Surplus of Confoildated Fund - - 6,500,c00 ExcAequer Bills to repay_advines by the Bank 1,300,0ce Money in Treafary tor Hemp and Flax Bounden, fur. 37,782 Lottery between 3 and 400,000, taken at - 400,000 Increafe oa Cations - • zpoo,oco Exclk - - - - 6,000,000 War l'axes. On property, though eakukted at 4,70 0 , 00 0, taken only at - 4,5 00 . 000 Vote of Credit - - • - a,coo,bao Loan - • - • - t °pop nco 3087,783 But of the above War Taxes it is expeaed that only 4,500,000 L can be made available within the year. With refpeft to Exchequer Bills, it has been propo fed that Parliament (hould authorife the Are of five millions Exchequer Bills, in aid of I go+ to replace a limilar rum withdrawn. At the end of the prefent year the amount of Exchequer Bills outhanding will be ten millions. The Committee mull have fen what is the great objca which I have in view, in propofing the great facrifices which the taxes I have Alluded to mutt ne caittily involve. My objet is, and I have no diffi culty in Paying that I with it clearly to be under flood, to taife as large a proportion as poffible of the Supplies neceffary for the public fervice in the courfe of the year. The extent to which I am anxious that this principle should be carried, is, that during the progrefs of the war no accumulation whatever Ihould take place in the amount of the public debt. It is my with that an eiiimate of the espence. of the year lho rid be I rmed on a fair and extended view of the exertions which we are called on to make, and that the loan-to be contracted for should not be greater than the Commitlioners for liquidating the /gational Debt pares the means of dithihuting for the extinc tion of that debt. With the eitablithment of fuch a fyilem, I have not only reafon to hope that there would be no accretion of the Public Debt for one particolar year, but I have no reafon for fuppofing, that unlefs extraordinary circumliances occurred, this fyftem might not, even during a long 'conteil, be :teed upon with fitccefs. As I have noted before, Sir, I think that the fum of 26 millions, which I am convinced would be adequate to every exertion we can be called on to make, and amply fufficient for every national °tied, could be railed without at all interfering with the fyllem on which I have thought it my duty to propofe the very great increafe of the public burtheas which I now fubmit to the Commit. tee. When 1 Isy this, I do not think that I proceed on grounds which are likely to lead me to erroneous conclufions. On the contrary, the principles on which I hold out to the Committee this expettation, are fimple and intelligible to every man who chutes to ex. ercife reflation on the fubjeft. If I have a right to pre. fume that the furplus of the Confolidated Fund will be fix millions five hundred thoufand pounds, as I have every reaftm to believe it will be; it the taxes whieleit is propofed to raife within the year (hall raife the rum of twelve millions five hundred thoufand pounds, as I think there is the bet grounds for anticipating that they will do, then the Committee can have no diffi culty in believing that the profiled which I hold out is not of a delufire nature, but one which will be jellified by experience. But, Sir, were I even to grant that the amount of the Taxes would be much refs than I have calculated,were Ito allow that they would fall short of my calculation by two millions five hundred tisoufand pounds, I will contend, that even with the profpelt of the continuance of the pre. fent contea for a feries of years, there would be no necelhity for a loan of more than fix millions. I wills to prefs on the attention of theCommi t tee the rounds or. which I think myfelf juaified in holding out this expeaation, and unleft circumaances, 'pistil which it is impoffible to make any fpecific provilion, and, which in holding out filch an expedation, I have, to a eoofiderable degree anticipated, I am confident, that thole expatations will be fully realifid. I Rate therefore, cliftinaly, that with taxes confiantly becom ing more produaive, with a furplus on the confo:i dated fund gradually increafing, the profpea which I hold out cannot, unlefs coonteraeed by eireurollan. en of the nature to which 1 have sow alluded, fail to be fully confirmed. That ender the eireuntaanea itt'which the country is plootsl u this [yeas of pro riding for the eOgeneiei of,the pubic fervice, with. ' out adding to the public elan, ought to be purfued, I believe will be eniverfally admitted, and the more its erleCts are coofidered, the more will it be allowed, that in every point of view it is fuperior to, he fund ing fyftem. Confidering the matter merely in a pe cuniary way, I am falisfied that even ten minutes refleiftion will be fufficient to convince any Gentle man, in applying merely the principles of arithme tical calculation, that the plan of railing the fopplics within the year, is under every consideration pre ferable to the funding fyftem. If lateen millions is the firm neceffary to be railed for the public fervice, it will, in a vet y [bort period, be found that the dif ference of providing for this fum by taxes to exift in perpetuity. or by lupplies to be railed within the year, in point of pretfure, very loon be found to be incou fiderable, while the importance of not allowing the national debt to accumulate, was matter of the cleareli experience. This is a pofition In clear, that I do not think it neceffary for me to take up much of the time of the Committee in attempting to eflablifh it. We found, Sir, its beneficial conk quences during the loft years of the late arduous cnntett in which the country was engaged. No fooner was it adopted, than its effeEts on the funds were experienced to a degree which it is not now neceffery for me to remind the Committee. There effofls were inflantaneous,ani they were alfo perm*. neat. Indeed, it is in the nature of the plan to pro. duce refpeCt abroad, and confidence at home. The adoption of it cannot fail at all times, but particu larly at a moment like the preterit, to fhew to tht Government of France that any attempt to conquer this. Country, by a war nn our finanCes, is a liopelefs conteft ; that it is out of the power of any enemy to break the national fpirit by fuch attempts, and mull end in difappointment ; that whatever be the emer gency in which we are placed, we pads ample re fources to meet it with firmnefs, with energy and (tw eets. The etre& of this on the powers of Europe mull be powerful. It mull thew them that, in affociating with this Country, in making a common cattle with us in any great emergency, they incur no danger, but unite their exertions with a people who pads at once the fpirit and the mcans adequate to the fupport of a great Itruggle. But the plan on which I propofe to rade fo very confiderable a part of the fupplies within the year is not new i.i the hiftory of this Country in former times. Even loon after the time when the funded fyftem was introduced, in the reigns of even William and Anne, the importance of railing as great a portion of the public revenue within the year was well enough underilood. Even at that period taxes were with this view impofed,and the wages of fervants were not exempted from their operation. In contem plating the continuance of this fy item, it cannot fail to afford fatisfaCtion to every Gentleman, that the pro fpeEt of its fuccefsful application is not of an illufory kind. Let Gentlemen look at the amount of the per manent taxes impnfed before the war in 1792, and, as they ezift at the prefent moment. In 1792 the • permanent taxes amounted to fourteen millions two hundred and eighty-two thoufand pounds. and, on the sth of April 1803, they were fifteen million nine hundred and ninety-four thoufand pounds. Thus, in eleven years there had been an increafe of one million feven hundred thoufand pounds. But, Sir, this is not all. The taxes impofed during the war have not • been lefsproduitive. They have, fake the period of their being Unwired, greatly exceeded the amount at, which they were originally calculated. This I Rate generally, and I beg leave particularly to advert tot the taxes impofed lag year. When I explained what, were my views of the probable amount of the taxes, which I then brought forward as part of the ways, and means of the year, I took them at a million three hundred thoufand pounds. There is now, Sir, the' ftrongelt reatbn for believing that in this calculation I was very confiderably below what experience bas proved to be their a!tual amount. I believe, Sir, I am not going too far, when I fay that their amount' will turn nut to be little Ihort of five millions. At a period like the prefent, it is a circumftance which cannot fail to afford the higbell fatisfaftion that every thing conneUed with the belt interells, every thing effential to the fupport of the Rate ezifted and ope rated in full vigour. It is not loft year alone that this, general improvement is apparent. It is an improve ment which has been going on gradually from year to year. The commerce, the navigation, the menu faatires of the country have been all equally advanc ing and acquiring new energy and ftrength. The ac counts which, beyond the poffibility of doubt. eltab lifh this improvement, are now on your table, and whoever is difpoled to doubt what I have been af fecting has only to refer to them for a folution of thefe doubts. In addition to all thefe animating' confiderations we have, Sir, what I mull ever con fider as the Sheet Anchor of the State, the folid, and continually augmenting fund for the eztinCtion of the motional debt. Its operation is not only to direffed, as by the adoption of the fyftem which I have this even ing had the honour to fubntit to the Committee, to prevent the accumulation of debt, but even during a war in which we are called on to make great facrifices, to hold out a reafonable profpeti of its &radnal dimi nution. I conies, Sir, that in propofing trusplan I pro poled one which could not fail to operate with fevere mime on all ranks of the community. I am con vinced. however, Sir, that at a moment like the re lent, there are none who are not willing to bear their part of the burthens which a conceit like that in which we are now involved fo ftrongly requires. No man can be lets difpofed than I am to propole any Inca fare, the etre& of which mull be to diminifh the com forts of the labouring clef es of the community. I will, however, Sir, do the peafantry of this Country the jußiee to fay, that I believe they are fully convin ced of the ju thee of the contell in which they are en gaged, that in defence of the honour and the hide, pendence of their Country, they are ready to fulstnit to fevere privations. They ore not unaware that the queftion now is, whether this Country ( ball continue independent and free, or whether it than fink into a Rate of difgracefel vaffalage to France, and (well the catalogue of thole States whole liberty and tide pendeace have total y perifhed under Gallic domina tion? I will not fo far intuit the people of this Coun try as to fuppofe that they are inkable of the nature and confequenees of the &niggle in which we are en gaged. I truß that they will not thew themfelves de ficient in the fpirit fuited to the cireumflances in which they are placed. I trult they will thew thernfeives worthy of being recognized as the countrymen of thofe bares who cowperod with Abercrambi: 4t Akin dria, and wit!: Nelfon at Aboukir. There vidory had accompanicd entl:::daflic valmir, and 1 liavt I.- fear thaton proper occaflf ns the l.,:re lit ic courage, the fame unconquerable 11:ir v: :nil cnoritoie to be ditplayed. lam not intetid:ile of the f.:vcre pi tI, re which the ineaft:re r propote will occadnit. I have, hotrever, one corf )lation, that I have endeavoured as far as porno:: to diffure this pa tiro , c equally among all ranks in the community. It has been my u iflx that no one fliould have it in ki, power to fay that any particular brand!: of the community had bcn treated with rigour, or had experienced part: slity I (hall ever (land up for ceconomy, but it (bail be an ecconomy in which tendernets for the fuhjed (Call be blended with regard for the cffential intereffit and real fecurity of.the empire. The Right Hon. Gentleman made a few more oh (creations, in which he vindicated himtill from the charge of fhrinking from the financial difficulties of the country, and contended that he had never enter tained but one opinion in the event of war, of the pro priety of providing as great a proportion of the fit p plies as poffible within the year. He complimented his Right Honourable Friend (Mr. Pitt) who had intro, duced it, and thought it was :he only means of na tional fafety. He finifhed by calling on the Commit tee et a crifis like the precut to ad in a manner worthy of the Sovereign who ruled over them, wor thy of the People whole Kcprefentatives they were, worthy of the country whicli gave them birth. He fat down by moving the firft Refolution. The queffion was then put on the different Refolu tions, and aveed to without oppolltion. The Houle being retuned, the Report was ordered to be brought up to-morrow.--Adjourned. . LONDON. TUESDAY, JUNE 14. In eonfequence of the difpatches brought over by the French Mellinger, COI MOND, difpatches were forwarded early yclterclay morning by Minifters to the KING at Windfor, reque fling his Mai Ewes pretence in town to a Council. The KING arrived. at the Qeen's Houfe between one and two o'clock, and a Council was immediately held, which was attended by the Cabinet Minillers. At this Coun cil difpatches were read (from whom received we cannot fay), announcing that Hanover, difappointed of the hoped for fuccour, has furrendered, on caplet'. lation, to the French army —Hanover has yielded with very little refillance—lteilflance perhaps would have been ufelefs—Perhaps they expeaed more lenient treatment from a ready furrender. The Italians, the Swifs, the Dutch, can tell how grievoufly the Ha• noverians will be plundered ! We (hould not be furprized if it Mould turn out that Fia.nce has offered to evacuate Hanover, pro vided this country will evacuate Malta. A propol. lion founded upon fuch a 'compromife, and which would recognize the right of France at all times to make Hanover a fet•off againil any Beitifh claim or poffelllon„ was not very likely to be accepted. It has been (aid that the propofals of France were connected with the mediation of Raffia and Pruffia, but a French courier could not regularly bring any propo fitions of that nature. Had any mediation now beta offered, and in reference to the prefent circumflances of the belligerents, fuch an offer could only corns through the Ruffian or Pruflian Minillers. The private letters from Hamburg!' are, we find s very contradictory, and we have reafon now to fear, upon the whole, that the place may eventually be occupied by the French. At any rate our Conful there keens to have been of opinion that Bikini pro perty would not long continue to be fafe in that quar. ter, and in eonfequence had ordered all our veffels to depart. Some (hips which had reached Cuxhaven, under convoy of a Frigate, on learning this intel. ligence, refolved to return, inflead of proceeding to Hamburgh. Yefterday morning arrived at Yarmouth the A mi. THY'? frigate, Captain C•MPaaLL, with their Royal Highneffes the Duke of CAMBRIDOII and Prince WILLIAM of GLoucirrilt: they left the frigate under a Royal falute. They were refuted alto by the (hips in the Roads as they palled, and were received ors ()lore by the Cbefhire Militia, with peefented arms, the band playing God rave the King. Their Royal Highn c Ire s immediately went to Nel fon's Hotel. Their R oyal Highneffes left the Elbe on Thorfday morning. The Mu Leonine frigate, with so fail of merchant men from Hamburgh, laden with the' property o the Hamburghers, had falled front thence on Wed.(' nefday left. The Dl•a♦ packet, Capt. Siena*, has alto am?' ed at Yarmouth, from Helvoetiluys, with Mr. Ltsvoe and family, our Atobafador, from the Hague : the DI•a• is one of the Packets which failed with Aags of truce. By the frigate came over Majors DaLron and Da sa n, Aid-de•Camps to their Royal High neffes, and Mr. Ross, an Englith Mefenger, from St, Pr terfburgh. By the Packet arrived Mr. Easr, - the Englifis Meleager, who was imprifotrad at the Brill, and a Foreign Meffenger from Vienna. We are informed of the fate of Hanover by French Jettrnals received this morning, to the 9thinftant, whiclr i prefent the following details : PARK JUNE L.-TELEGRAPHIC DISPATCH. N 0.11111l•L BILLIARD, COMM•SIDP.MT OF TN! 24VM " igiLiTilltvino', TO TN! MINIST ER •T MAR. I. " Wards, Jane $ " The Freveh are Markers of the Eleaorate of " Hanover, and ,the Army of the Enemy are Pei. loners of War. is An Ertraordiosrr i Coorier, difpatched by the Conatoandert OtierOolooottsce this News to 4 , the Col e lpis4t . t r pailtitt 'through Brulels this bkroin t • Vot toot et." 1 11