The Statesman. — London, England, 1813-03-04 00:00:00

'~~ , iNt . 1 ~, } r 4 , .1 V 114 TRIAL PAR ' • HOUSE OF COMMONS, Miaca t A new writ was moved for Wanton Basset, in the room of Mr. Kibb!orbit', who had accepted the Chiltern Hundreds. The Irish Road Hill was read a seaond time. Mr. MELLISH brought in a Bill for building a new Parish Church in the Parish of St. Pancras, which was read a first dose. Mr. PEE LE gave notice that he should move for a Committee 1111 Wednesday next, to considercertain Petitions which he had pnineatel concerning the Royal Canal Company hi Ireland. Mr J. C. HIPPISI.EY signified that he should not persevere ba his Motion respecting the employment of the Militia in dif. ferret parts, in consequence of a wish expressed by a Noble Lord opposite, who had no ohjection to l* y inE the returns upon the Table, but who thought the publicity of i h em might be in jartom. Concurring in that sentiment, he withdrew his Mo tion. The lion. Rart, then adverted to some misrepresentation which had taken place ill some Paper watch be did not name. respecting what had fallen from bum with regard is the oath of 1791, taken by the Catholics. The CIiIAI(CELLOR of the EXCHEQUER mired far cer tain returns respecting the various amount of stock actually standing in the name of the Commissioners of the National Debt. op to March, 187:3: also similar returns respecting the Land Tax, kc. HER ROYAL HWIINESS THE PRINCESS OF • • WALES. Mr. WHITBREAD, perceiving an Hon. Mem ber in his place, begged to enquire of that lion. Member, whether, under the circumstances that had occurred of her Royal Highness's Letter to the Speaker, he still intended to bring forward his Motion ? • The lion. COCIIRANE JOHNSTONE replied; that he had seen nothing which could induce him to alter his intention, and that, tbeiefore, he should certainly bring forward his Motion to-morrow (this evening). ' COMMITTEE ON THE FINANCES OF THE Co UNTItY. The CHANCELLOR of the EXCHEQUER timed, previously to going into the Committee, that the resolution which the House had come to in May, NM should be read, and that the Accounts respect ing the National Debt, War Taxes, and Consoli dated Fund, should be referred to the said Commit tee. The House having then gone into a Committee, The CHANCELLOR of the EXCHEQUER stated, that after the laborious attention which they had so recently bestowed upon the Catholic Ques tion, he should have forborne craving their attention now to the consideration of the Finances of the coun try, did not the subject rsquire immediate and seri ous discussion; and he had no doubt the House would approve of his following a course similar to what had been adopted in 1802 and 1807. He trust ed also that they would agree with him in another respect, that it was highly necessary any proposition affecting the general Finances of the country should be submitted to them and the public, before any pe cuniary arrangements were entered into by the Go vernment, in order that all those persons who may transact such pecuniary arrangements with the Go vernment, might know exactly the terms upon which they would b performed, and might have no just ground of complaint against them or the Govern ment, in case any fluctuation of any kind should take place in the public securities. The House would re collect that a short time befor the prorogation of the last Parliament, a sort of conversation took place respecting the Finances of the country, and it then kppeared to be a general feeling, thit further mea sures must be adopted in support of the public credit. Since that time he had considered seriously, atten tively, and laboriously, the suggestions thrown out, and had endeavoured to combine them into one sys tem, together with such other circumstances as ap peared to be deserving the attention of Parliament.— He had stated at the time alluded to, that it would be necessary, for the support of public credit, to adopt some efficient measures for the restoration of the finances, and to provide some addition to the Sinking Fund for the redemption of the National Viebt. But whatever, and how great soever, may have been the necessity of such measures at that time, he was happy to say that the necessity had consider ably diminished since, by the issue of the most ex traordinary and eventful campaign that history had recorded. It was to be hoped, however, not for getting the dreadful waste of human life, which he deeply deplored, that the struggle between insatiate, remorseless, and infuriate ambition on the one hand, opposed, as It had been, by hardy, stubborn patriotism on the other, would ultimately do good, though the de mons of devastation had been let loose, and their pro gress had been marked by the most calamitous excesses. In recalling the attention of the House to the mea sures which he wished to propose, he should first notice the plan he intended to submit for promoting and furthering the redemption of the Land Tax.— He had attentively considered that subject during the summer, and he had been greatly assisted by the la borious exertions of the Commissioners for the Re demption of the Ecclesiastical Land Tax, whose Re ports he bad laid before the House. The principal point which lie wished to change was in simplifying the arrangement, as he was persuaded, the* if the difficulties arising from delay were removed, and certain formalities dispensed with, the measure would be more productive than it now was. For that pur pose he meant to propose; that upon a simele notice to the Collectors of the Land Tax, from the party misting to redeem his Laud Tax, a proportional as sessment should he laid on, double or treble, as cir camstances might occur, for a certain !mintier of years, and which should operate the redemption of the /And Tax. To that plan, he apprehended, no opposition would be made. Another measure he meant to propose was, that for every additional loan f(br each year, a sum equal to half the interest of that loan should be raised by additional permanent taxes. -oposition he had to make related to Ex- Is. A great number of these were con .rculation, and unprovided for. He in submit that for all such Exchequer Bills as dation on the sth of January in every inprovidkd for, a Sinking Fund of -one lould be provided. To those measures tlter to propose of mo-a consequene, end respected the change which had been made iii the of the Sinking Fund in 1802. His in to propose a repeal of that part of the provided that the Sinking Fund should at 'compound interest till the whole of Debt discharged amounted to live hun llions. That would create an additional an on the nation of 870,0001. and which tto provide for by additional pernia- These were the principal points 404 which he intended _ House, and he hoped had been attentive lic Credit in this Sinking Fund as now that,bad.it mitered injp ex tensive a war would greet man would hive meat, and one better stance of such protracted 1798, above ten hundred war taxes; and had alacrity by the public, must have been an ' that amount. This substitute successive the whole of the establishment of the deemed. There was • in the hands of the Isum it would be difficui lation of property ; , would not be the case, linerease to the large ' arrite at. Accordii during the first yea creased instead of subsequent diroinua • was known, must, nished. He now came sults of the,Rlas, which, not be Iktened to, faith. The effect of vernment a present _ the taxes to be imposed would be added to of reverting to the , of 1802, no new burdens years. He proposed the exigencies of the be defrayed by cat.. standing in the names It was, in fact, red this could be no must be done at dient would also increase ation, as, during four tional taxes, which be saved. After reca , his measure, the Chancel] that lie felt the hea, pressed on him, in )ringing ph portance ; but he had no hesitation in doing it, as the benefits which might result to the country, if it should be found successful, would be most impor tant. Many gallant and worthy melt had laid down their lives to attain a much less important object than that of providing for the exigencies of the State, during the period of four years. lie wished them to take the subject into their most serious conside ration ; to consult those who were well acquainted with the subject, and the valuable mass of informs. tion en the table of their House. If, after this, the House considered the subject with anxious desire to forma correct estimate of its true merits, he should trust to their•decision with confidence; and, if his plan should be rotted 19 bear explanation, .he should derive the most sincere pleasure from the appro bation of that House. The flight Honourable Gen tleman then concluded by reading the substance of his resolutions. Mr. HUSKISSON said, that not haying adequate means of judging of the writs of the plan proposed, 1 he should postpone the declaration of any opinion on the proposed measure ; and, with this view, he ; approved of the postponement. Yet he must ex press, that if he understood the statement of his Right lion. Friend (and any misunderstanding of it could not arise from the manner in which his Right ; Hon. Friend bad stated it), it appeared to him the most important change in our financial system, Aar ; in*. this long and eventful war. lie should look at the plan with the anxious With that he might find it consistent with public credit; and if he again trou bled the House on the subject, it would be after hay ing looked into all the details. Mr. TIERNEY, after shying that he fully con curred with the Right Honourable Gentleman who last addressed the Committee, wished to state what occurred to him on the imperfect view he had of the plan, wishing to be understood that he pledged him ' self to no opposition to the plan, but to express his present impression. The grand plan of the Right Honourable Gentleman seemed to be merely to ring changes on the old financial expedient, and to undo what had been done by his predecessors. It was to undo the bargain of 1802—e bargain which he (Mr. Tierney) disapproved at the time, as he stated to Lord Sidmouth, on the ground that when the dilli ; eulties to which it might give rise came on; public faith would stand in the way of arrangement. The plan of 1802 professed to give to the Stock-holder grtetteredvantagerthan he had possesSeriaiiat tin& of Mr. Pitt, and now when the public faith was pledged to this arrangenient—now when the prospect of tine acenmulation of this large fund had been a part of the premium to the purchas,.rs of stock, that the %tilting Fund should he set afloat in this manner without any kind of permanent arrangement, as the Parliament was, from year to year, to find what should be done. The broad principle of the 'perma nence was done away, and the Chancellor of the , Exchequer was to come to the House every year with his estimates on this as on any other subject.— As to the one per cent. Sinking Fund on the Ex chequer Bil!s, wasit to be voted annually ? [Yes, from the eisttcellor of the Exchequer.]—This would be at the d;scretion of Parliamoat, and would, when voted, be a yro [onto augmentation of the loan of the year. What occurred to him (Mr. Tierney) was, that the affair would be then left in uncertainty, •which, as to the transactions of the country with its creditors, nag the worst imagiunble situation. As the Sinking Fund, to the amount of any turptus loan, if it was provided by the permanent taxes, he should have no objection to it. [The Chancellor of the Exchequer said, across the table, it was to be pro vided by permanent taxes, artless the state of the Sinking Fund should render it unnecessary.)—This constituted an objection to it—it introduced uncer tainty. Hy the plan of the Chancellor; the Sirskins Fund was altogether broken down, and, Instead, 840 thousand pounds were to be given to it. To say that the Sinking Fund forined and bore the proporg tioq of oqe to forty-four to, the :Wiese' • debts _.geqi .oped might be no necessity for postponement, as the sub ject was, or appeared to him to be, so plain, that he thought that Gentlemen might in a few days make themselves masters of it. He was reminded, by what had been said, of one omission in his statement : he should propose, as a part of his plan, that in time of peace one hundred millions should be kept as a trea sure in the hands of the Commissioners, applicable to maintain the dignities of the State. This sum, for midable in any hands, might, if wisely used, be most beneficial, and as it would not be to be touched but by Act of Parliament, would not be liable to the objections to treasure disposable by the Crown ? . As to the Consolidated Fond, it could not be by billplan possibly diminished, sod might and would be aug. mented. went : _ " Montague-house, Blackheath, March 1, Hilt " The Princess of Wales informs Mr. Speaker [the Lord Chancellor] that she bas received from the Lord V isct. Sidtaouth a Copy of a Report aside to his Royal Highness the Prince Rc. gent, by a certain number of the Members of his Majesty's Privy Council, to whom it appears, that his Royal Highness had been advised to refer the consideration of documents, and other evidence, respecting her character and conduct. " The Report is of such a nature, that her Royal Highness feels persuaded no person can read it without cmsiderin4 it as conveying aspersions upon her; and although their vagnenem renders it impossible to discover precisely what is meant, or even what sloe hes been charged with l yet, as the Princess feels con scious ofao offence whatever, she thinks it due to herself, to the illustrious Houses with which shell consected by blond sod by marriage, and to the people, tunas whom she bolds so distin guished a rank, not to acquiesce fora moment in any Imputation Mr. BARING thought it hardly fair to go into I nfectin g her hal/ewe ' the plan at present, though he could not help feel- I " The Priscees of Wales has not been permitted to know ! upon what evidence the Members of the Privy Council pro ing alarmed at its progress. Though there might • I ceded, still less to be heard in her defence. She knew only by come a time when it would be necessary to interfere, I common rumour of the enquiries which they have been carrying there was a difference between an interference which 1 on, until the result of those enquiries was eommuaicated to her, would strengthen, and one which would weaken or and she has no means now of knowing whether the Members break down the fund. It was a consolation, how.' acted as a body to which she can appeal for redress, at least-for ever, that the shock to public credit (whatever the , a haring, or only in their individual capacities, as persons is. • effect might be two or three years hence), was not pecked to make: Report upon her conduct. immediate,. He acknowledged, that the plan now 1 " The Princtss Is therefore compelled to throw herself upon Justice of Parliament, and to desire that the suggested could not affect public credit immediately, ftlitiellwilad.mn and. i t o h t e estig i ati od o: ma her y re be id instit i uted tb. of her t whole conduct and he hoped that no delusion upon the subject ! dur es in . ' would prevail ; if, however, viy danger of that kind .. The i Princess r fears no se e r 7 t e loy n h i :::::, rYstri. strict, provided should present itself, it would be the duty of Par. she may be tried by impartial Judges,' known to the Constitu liament, as the guardian of the public, to take care tion, and in the fair and open manner which the law of the land to prevent any injurious operation. `prescribes. Lord CASTLFAEA Gil expressed his satisfiation, " Her only desire is, that she may either be treated as taco that the Honourable Gentleman, whose views upon cent, or pioved to be guilty. all subjects were so liberal and enlightened,had given "The Princess of-Wales desires Mr. Speaker [the Lord Chan his authority for asserting that no injury to the pub. cello!) to communicate this letter to the House of Commons." lic credit could result from this measure. At present 'This was transmitted both to the SPEAKER and the many Gentlemen might feel objections, but he re. Lotto Caswell-Loa, early on Monday evening. The quested that they might keep their minds open to Lotto CRAXCELLOR has not yet laid it before the conviction. The proposition was complicated, but Lords, having, as is said, considered that his duty after the clearteplanation that had been gisen, and prevented him. We understand he sent it back to the perusal of i ate documents that would he supplied, he had no doubt it would be very comprehensible not the Princess, after the example of higher powers. only to the house but to the public, and would While the reports were in circulation that the Se meet with the approbation and support of the lent Councillors meant to proceed to some resolu country. lie hoped that no unfounded prejudices i tion, it is said that the Princess of Waxes at length would exist upon the subject previous to its delibe rate discussion. . • againstsuchproceedings; I protested Sir J. NEWPORTadverted to the advantages de- 'the Report was by that time finished. She, how rived from . peekosieg.. !navies like Alia -pressen in ewe "I Apt appeal Se ' Pa44lasalsee " HI she had de . tirniebtfee, where every Gentlemen could suggest ! cloyed her willingness to have her conduct enquired what appeared to him beneficial. Before the debate ! intd, even by the Judges chosen by those who etc• upon the question on Monday xe'nnight, fluctuations : cased her. of public opinion might occur which would affect' • Since the Letter to the PRINCE R EOM' wan made the price of stocks, but they would only be tem- : porary. : public, the Princess has not been allowed to see the Mr. 11. THORNTON noticed two objections. 1. 1 Princess CnxemoTTe et all. The latter has been ill That by this plan the amount of the Sinking Fune during great part of the time, and her Mother has •ould eventually be diminished, and the fen's con- ; been refused all access to her. sequently reduced. 2. That the proposed alteration i Mr. CoritttAxE JOUNITO was inconsiste n t with the public faith pledged in • ' NE, it appears, b re- . 1792. solved to make his motion, and has refused to wive The CHANCELLOR, of the EXCHEQUER 1 was it, orlet it stand over, notwithstanding the new and happy to be able to remove both the objections of-the . material circumstances of the Report, and the Prin. lion. Gentleman. On an inspection of the tables cess's application to Parliament, which have occur end other documents supplied, containing caleula- ' red since he gave his notice. It is d ted un ers o o tions of Interest and Compound Interest, it would be however, to be a measure of his own, and quite un found that the Sinking Fond would not lie at all the breach of public faith, it would he re duced. As to ! connected with any p art y in Parliament, or with th i s any of the illustrious personages chiefly concerned. apparent, on enquiry, that the public would by Plan be placed in a more advantageous situation than 1 by the Bill of 1702. The total amount of debt would i The annual Meeting of the Noblemen and Gentio. be more speedily liquidated by the new than by the men educated at Westminster School, was held sit old system. It should bwremembered that the per- Willis's Rooms, on Saturday last, and numerously sons most affected by taxation weratitose who derived attended. Amongst the company were the Arch % fixed income from the funds, and if by the scheme bishop of York, Bishops of London and Oxford" i , w suggested no new birdens would be imposed the Chief Baron, and many otber distinguished per open. them for four years, the blessings of thousands sons. Several appropriate toasts were drank. When of widows •and orphatt• would attend,--not him- the Daan of Westminster's health was proposes' from sail fitr sweetie; it, imit th• House for adopt- the Chair, It was received with cordial applause, lug it. , i which continued several minutes. The evening ..1.4 Some conversation then took place across the sprat with the utmost conviviality, end about dove talde•is to goo repetition mew of the argument sins . the company separated. Tie next pro chequer Bills Moistly in cirt - tended to sub i, were in circa ' Sear, and ut 11 per cent. she be had anoth that respecter arrangement Lon was t ( Act which pr accumulate a the National tired millions nual charge t he intended' petit Wes, • ' q .. ... . ' ' . •• • • .. • . 1 t ' `'. . i ‘ • ;,....„ , .. L • : • ' : : ''. gI i ATESMAI 4 II ‘ 0 . • . ',' . . ' , rvv-,.!f( ...A f fr v ., . i ~ , , ~ . beta beak meat to vendee Me food plopped on the question of the Making Fend in teei • ,as even bearing this ProPere 1 The CHANCELLOR of the EXCHEQUER* 11 calling the at •.„,,, *: - .•!'et . !toped it would -- 7 _ 'AA: I ' ' "Ile ire 4o the state Iltifilin ',Ainfiii the Peke of sleek was lower than whoa lbsj mitted that the stockholder, after a lapse of la t h. country. With regard' to the 'fund bet, tett* &hi the proportion Ant ! I years, w ould be benefited, bat until that period se; • t Honourable • rived his condition would be worse a ft er the adop:ion ow coestituted, he felt perseeded, hiya ta r. kitt:s calculatioit that so ! (Me. • • 7 . i I He k • * ~..4 ~, •eti g h , . - cheiracteriaz i :,l4m Ile Odds plea than beforett. • , ,ukt muse as bad prevailed, hat deli' 11 114 " - t s e was 'that dol s, 1 1 . *lel Mr. TIERNEY lamented that he should not lire -.) to him (WKlllirDef ), tollodh iloPlade. Go to enjoy any of the fruits of thisemble scheme, since th e hive adopted a differei* arrange 1 . ter calculated to meet the circems i WOO hippy thattu a rauld n ot be called. on to de- a d van t ages were postpone d to so remote a period.— otmcted hostility. Since the year ,tide oti.the/4114 lifeeday seeeishirmad shield , The Right Hon. Gentleman might b e content with ,neared millions had been raistrl by have wished for fettlter delay, had not the Right ; this dista n t v i ew o f th e p romlie d l ea d , b ut, for his ,t 1 those taxes not been borne with i 'tonnetable thitherto) put it out of his own power part, he had'rather experience sofas Immediate he, blic; and provided by them there :to grant it, by each the funding of the EXChellwrinefitt. il.• --,.....,A , ~„, . . ' EL increase of the National D ebt to ' Hills lf tabli'diple 7 "( tad not been hoPliallhin t he 1 The CHANC LOR of the EXCHEQUER re. i s was p ecu li ar ly she Moment to should have wished eke state of the Finentea to be I Nerved to the, leconienience that aught res u lt f oon re and simultaneous reduction, as • referred to a /meet C omm ittee ; and among-hts Oa- paying off the Whole of the National Debt: it would debt incurred anteriorly to the sons for this wish, was th e s tate of therConsolidated be little better than a national bankruptcy; and he the Sinking Fund, had been re- Fund. 'This fund was in a decreasing state, and illustteted it by referring to the case o f th e El ector Fes at present shout 840 millions ' had it not been strengthened for seven or eight _of Saxony, who hattbeen petitioned by a vast num. which enormous . years, though, It must be recollected, that in time h er o f persons to cont i nue to them the public secs- t e ra C cu om it in to Commissioners which without a Ructu- • of peace, this fund and the Anneal Taxes, would , tity for money they could not - otherwise dispose of. ; but this may now be dine, which be then one , resource. On this fund they bad Dow ! After a few inaudible remarks from Mr. Babington case, if that sum wire.sugered to : turned their back. After r emarking that much dies- and a short reply by the Chancellor of the Exche- ge amount which it must, in time, , gust might be l o w t o the people, by the interfor- ' quer, the Chairman reported progress (the House ling to the plan he should propose, once of Parliament with public credit, as to cease : bei ng resume d), an d i t was or d ere d that the R eport be tr, the Sinking Fund would be In- ; assistance to fail wheott wet most wanted, and remarks taken into further c o nside ra ti on on M on d ay se ' u . I diminished ; neither' would the , lug that they had no papers on the subject, the Right night (March 18). Ition be much felt, asthe fund, it i lion. Gent. concluded by saying, that this wee the The House, on the motion of Mr. FITZGE. at some time or other; be dims- ' . broad outline of what was Impressed on his mind by BALD, went Into a Committee to amend the Act came to consider the benellcill re- I his canary slaw af limpiplani - bat that be would give -reseed last year relating to the I r i s h B u tt er T ra d e . which, however flatterltrej . iboeld it &nitwit delibeifte eletsideration, and come to the' The Cornish Miners' Bin Awe% read a second time. if they compromised) the public ; decision on it with the utmost impartiality. - I 'Sir J."'NEWPORT mated for certain papers re. of it would be, to glee to the Go-, Mr. D. GIDDY remarked on the beneficial mesa! ; lating to the Light Houses about to be erected. t subsidy of 120 millions.—Except , effects which had been produced by the Sinking! Sir S. RObIILLY moved the second reading of nosed to provide fei the sum which I Fund, in keeping up the price of' the Stocks, and , the Bill on Criminal Law. the Sinking Fund, in consequence `was convinced that it would be better than to break in! The ATTORNEY-GENERAL said, that he system established before the Act on this Fond to augment the taxes, which augment:. • should not oppose the Bill in this stage of it, but re. lurdens need be imposed for roar ! tion th e p eo ple wo u ld, when they saw the necessity, ' serve his objections to the general principle till the ,sed to raise the sums required for .willingly submit to. ' - third reading. he State, by loans, which would The CHANCELLOR of the EXCHEQUER : A Committee of the whole House was appointed mncelling portions of the stock ; briefly replied to the objections which had been 'to take the subject into consideration on Friday se'n. lames of the Commissioners.— I urged against his Resolutions. The present effect night. reducing the• Sinking Fund; but .on the Sinking Fund would be beneficial, as ; A Petition from the Proprietors of the Oxford D objection, as it necessarily ! 870,0001. per annum would be given to it, and all , Canal against the North Wiltshire Canal was pre- one time or other. This expe- ;it would lose was the prospect of a distant advan- , sented, and ordered to lie upon the table. ncrease the facilities of future tax. i tage. The uncertainty to the stock-holders, he' Adjourned till to-morrow. 'our years, seven millions of eddc- ; contended, was not increased, as they would know, . h must otherwise be levied, would ! from year to year, as before, the amount of the THE . PRINCESS OF WALES. recapitulating' the several heads oft Loans, and of the sums applied to the Sinking Fund. --eo--- 7,bancellor of the Exchequer said, ilia thought the Right Honourable Gentleman had The following is a correct Copy of the Princess ivy weight of responsibility which ; spoken too fully on the plan in its present stage.— of WALES'S Communication to the Houses of Parlia. 1 bringing on a plan of such im-1 lie (the Chancellor of the Exchequer) hoped there ; ---, . I