The British Press; or, Morning Literary Advertiser. — London, England, 1824-03-03 00:00:00

a----- - - - - -- - -- -- -- -- to excite great dissatisfaction. The petitioners prayed that the proposed alteration passed into a law, they might be heard by Cout.sel at the Bar of that House against it. 4.lrdettd to !ie on the table. IRELAYD. Lord A LTIIORP gatell4strc;lia motion on Thursday fur the production of certain papers relative to a pr4tol(~d amnesty to Movernment on the part of the Ribbonmen of thawsy and Mayo. EXCISE LICENCE DUTIES. Mr. F. which, through some omission, wan not read by the Clerk, but which we prenumu to be from the Licensed Victuallen of the town of Reading. praying for a repeal of the Excise Licence I)uties. Mr. MONK seen: ded the bringing up of the petition. The tax. as it as present stood, was a poll -tax, for pennon were not taxed to peoponion to the quantity communed ; a person who only dis posed of thine hands of beer paid the name as one who disponod hundred. The duty ought, in his opinion, to be established inn a more equitable principl-. There was a compatiy which sold strongberr at 4d. a quart, shill.' publnaflt could only retail it at 3d. The',n•t. was, that thin company wan entablinhed by brewer's who could ti:t'ard to nen it, and which therefore deprived the publi can of all competition. He saw no reason to prevent the ptibliCall from brewing ; on the contrary, he had a stronger claim ; for, be sides the duty which he paid, he might have a wholesale an well as a retail %ale, whilst the brewer ens confined t.) the former. The !newels Imwe• er contrived VD Callabliall ill icany places, in Reading awl abort iamdrin, houses for a retail sale, to the grad injury and is/justice nf the publicans. And this practice prevailed with the knowledge and connivance of the Miszi•anites. After a few remarks sato the propriety of putting the publican on a fair footing an his busint sn, and the expediency of a general reduction in the taxation of the enuntry, he seconded the bringing up of the petition. (Inhered to lie on the table. 1, 1 iii;AVE TRADE. Lord JOHN ItI7SSEEL presenttil a petition from the county of Huntingdon, against the !dove Trade. A Mcwage was brought op from the Lords, Rignifying the agree ment of their Lordships to die Reciprocity of fhttita Bill, and other Itills, and cot nicatitig a request of their Lordships for a copy of the Report of th: Committee of 11118, on the Usury . . . . Mr. Mirky', from the Treasury, appeared at the Bar, with ac counts of the Customs ahtl Liteose. WINDOW TAX. Ale. 1101111017 SE prose; ted a petitimi from the parish of St. Anne, praying for a repeal of the window tax. The sentiment., of the petitioners were ainitlar to those of the many petitions presented in the year 11122, for the repeal of this tax. It was signed by nine hundred householders and inhabitants of Westminster. A more general petition was In progress of preparation, and i.e would now he prepared to present petitions trout all parts, of Ifestminster, but the, a gent ral expectation prevailed that it was the intention of the Chancellor of the Exchequa r to roduce the taxation of this %moony on an extensive scale, and that the repeal, or at least the reduction at this odious tax, would have been included in his plan. lie begged to add, that the petition sta.. signed by persons of all political deoominatioca. Indeed he need only reter to the first paragraph of the petition, to satisfy the llama that such was the mixed cha racter of the petitioner., toe there it world be found that the pen. titaness relied " on the firm, wise, and enlightened policy or the House of Commons." That sentence• was alone sufficient to sa tisfy the Home that the petitioners did not belong exclusively to the class of thaw who usually petitioned for Reform. The 'afoot. tures, which were nita hundred, were obtainel in tire hours—no sn:all proof of the anxiety that prevailed for its repeal. Amongst the signatures were to be found the Millie% of the collector of taxes, the churchwardens, and vatious pens sns of official situations, which proved, that however they might differ in politics, they were all agreed as to the propriety and necessity of having this tax repealed. The petition was then brought up, and ordered to be printed. Mr. 1 11 again ruse to present a similar petition from St. Mary, Lambeth. The petition woo accolopanied with a table, to which he would have occasion to refer presently, and by which it was shewn thut the burden of this tax fell with unequal pres sure and severity on the humbler chases of society, who were least able to pay it. This petition was also brought up, and ordered to be printed. Mr. 1111111101!St; next rose, to bring before the consideration, of thellouse the motion of which he hod given previous notice, fur the repeal of the IS'italow Tax. lit twinging the motion betirre their uosisideration, he had strong claims on their indulgence—an in dulgence which he had au frequently experienced on tiwmer oppor tomtits. These were not words lit course. Ile telt unfeignedly that he had touch need to solicit that indulgence, when he had un dertaken so important a subject as the taxation of the country. And the more so hail he occasion to request their kind attention, as he would have to allude to the speech of the Chancellor of the Ex chequer, which convinced and delighted the House by the sound pitneiples of commercial policy whith it cootaintd. If these prin. crpies, so beautiful in theory, wire reduced to rractice, the adoption ot them would establish for him the foundation of that both and honourable fame to which the hottest ambition of every member of a tree government ought Pt aspire. 11 . 1tilst he bore this testimony to the correctness of those principles of policy, SS laid down by the Jlol. ()voile/flambe could not but withhold bis assent from the plan ut taxation which he had derived for the present year. It was such as not to satisfy the just expectations of the country, which naturally looked to a considerable reduction in the taxes of the pre sent year. lie had thought that the nuncio bad been given up, which made the greatness of the nation consist in the wealth of the Treasury, and nut it: the wealth of the people ; and that some available diminution of taxa& n would have accompatned a depart ure front a systems which had intpmed greater burdens upon this country than had ever been imposed upon any country, not only calling itself free, but on any country en which the most absolute dupes nisi was established. rue people had no tangle to pay fur the expenses of keeping up die liberties of other nations, aud maintaining our own, the people sure:) , ought to expect a diminution ut that vast expenditure wench formerly existed, and consequently a material reduction of the taxes that supplied it. As a further graund to jawify the people in the expectation of this reduction, Las would refer to the speech of his Majesty which stated, at the oinmencement of the session, that the country was in a state of high en flourishing prosperity—that nem tee was going on with a sue. cess that could not have been anticipated—that improvements had been made in agriculture, &c.—that the revenue she had it creased. 11 this were the case, had not the people a justifiable right to en lertatn the opinion that this prosperity warranted a reduction of taxation, in which he regretted to say they had been grievously dis appointed. Dul not thus boasted provenly, he would ask, call tor change in a system of taxation which had been imposed only to apply to a partial pressure? The nation looked for such a change as the result of such a szatenieto, not that lie (Mr. II.) admitted the correctruss of the fact, that the several branches alluded to ha:l so increased, as to raise us to that degree of prosperity that it was alleged re had arrived at ; and this observation he would pani eoltrly apply to the agricultural condition of the country. By agricultural imprecision was meant a rise of prices, and when p r i ces were low, then I.le country gentlemen complained of the depressed stadia the agricultural interests. Put it should he remembered that high pikes had the effect of depressiog . the other interests of the a entry ; end therefore it was Inure anti: able for the general good of society that prices shook' be low than high. This was a prin ciple which was admitted by the Right Honourable Gentleman, the Chancellor of the Exchequer. and which the late lamented Mr. Ittcanlo had frequently proved in that House. Ifisadvantageous es high prices Were, fluctuating prices were still more so to a venom and there must ever be fluctuating prices in this country, so long as the pnsnn corn-Lill remained in three (Hear, hear). • The consequerce of that bill was, dust either the consumer paid tou much, or the producer paid too little. This created an evil which i it slants besought it. to avert in a free country, nanielr, one part of the community petiti wing against another, nod ilium the ottention of the legialatere was distracted from adopting measures which might be beneficial to the whole of society. He (Mr. II.) it: velar d that a change was soon likely to take place in this agricultural property "'Melt was to ninth talked of. Bonded wheat would be soon in, and then he apprehended that an alteratimi might occur, which would induce winks ten 10 speak differently frmii what they now did on the subject of agricultural improvement. torn WAS 110 Tera the average of seventy t" No, no," from ' ,v en d Plembeno, he ktiew that it was sometimes an high ar seventy-four hot he stated the average correctly by effitMeg it at serenity. %Viten the time he alluded to arrived, the mosumer and pro-, rimer would actin he brought into opposition, and the rime I kormage would out be held asses now hotel. In the emote of the l eloquent statement' of the Chancellor of the Egrhequer. he, went out of his way to extend his roteetlon to two estunnrired charm:Les—the Emperor Franeis and the House of Commons. The Entperor of .lustrot hail certainly contributed to the rosperity of, tile country. but in what it muter did he do +9 ? By paying two! milhoto and a half fur a debt which, when both the pnnental and interest of it wee corsidered together, amounted to twenty-five millions sr d a half, whach was elsi.si,:erabl, more than on a for liter ocaasion was alleged to he the debt. As to the applause which !sad been beeped upon tl e House, he was not indisposed to !Mu them. 1 , , getting out at whit was tonne , ' the difficulties of'the ' coantry, the nova 0.0 delivery was attributed to the tondutt of Ms/asters. and in what did this merit consist ? In comismiog system which imposed long-sunirring on the ration.—trltich took rot front the lissariat but the 4,11111 - oft• et the insgsle-• net turn their arnsforts, but from their very mans of exi%:eure, t.,7 it Is known that many died under the pit-sore of the bit-de is impose.) during the late war. And the sohe illefit of Alinisars was to be found in saying to the people, " We will net now cominue to loop those burdens upon )ea, now th.tt we are not at war, and hare !inn at peace." This was the reel ground of their pngenaions to the thanks they claimed ; a n d they thus bought to make the ration lailieve that it es:, not to itself told its owti exertions, bat to the forbearance Irtrisoment that it was rodehted for whatever prusperity it egj ',Ask Tint Right hook I illttielllllll had, howe'.'or, in his address to the ihtitar, stated air totter and more motional cause for the growing vnstprrity that was alleged to prevail, namely, an increasing commerce, aid an In. crenaing consumption, the consequence i,f comfort, and oppnr tunitim of exertions ..hietled by peace. The Right Hon. tient. said that all this wits due to Parliament. Ile (Mr. 11. l would ray that ii was not. latt the Right lion. Com:lemon descend to root.. atsl, fur toe good principle catablished by Parliament, he would ad. due: two or more estnblialied by the octopi?. The reduction of i partial taxation was a right of the people; the flintier which was vuilected in taXatittil WAS the money of the pt ople. um d not of the Parliament; it , A, when public exigencies did not demand it. it should not 8e taken from them. .'g the Chanerlk,r of the Ev- homier had gore rot of his way to eulegini the Emperor .1 Austria and the of i'osstmons, he (Mr. 11.) would not gm out of the way, but into the way of the Right Hon. Cent to support t , :e ruse of the tope. He bad heard the Marquis of Loodunderry ; sae. at one period of the war, that eitliti no fur her reduction could I tstate otos'e in intatio.i. or the stairs of the cuantry could not goon. I rt-ervore Mies the 3liob-ters of the th own who had nttempted to' teal the people stir further re d uction was impoasible. The pdlpie were uns however, to sobwit paticn , ly ter taxation so grievously oppressive, and they made against it a auemurful stand, they denniaded and obtained • reduction. Now, that declaration, mute with so lofty a tone from a Ministerial bench, !was still haind fleeting and unsubstantial, before the unanimous expression of popular feeling. And when the ;Rini-it/ea word failed, 00 wooder the people should suspect his successor. They still thought, notwithstanding • similar declaration from the Chancellor of the Exchequer, that further reduction could still be mole, aril that reduction they humbly solicited. It hail been said, that through the parental care of the Government, the state and moth thin of the country had reached the highest imaginable perfection. He begged leave, however, to dissent altogether from that poetical recommendation which th e fancy Of he might thus designate any of the qualiaccions of a Chancellor of Exchequer) of the Right lion. Gentleman bad bestowed upon the Government. It was to its own native health and vigour that the nation owed its recovery. It was ingenious indeed, and foliated the modesty of an experienced debater to attribute the cure to those who had created the nation's distemper. The famine of the nation sprung from the misrule of Government. and yet, at the very approach to recovery, when the patient first meowed the invigorating sky, and felt the balmy sir of heaven, these doctor , of the tame cula tttt t " f /h, it is to us you are in debted for the life and health you now enjoy." Ile could not help complaining too, in another instance, of the manner in which the' , people had been treated by the Chancellor of the Exchequer. To them had the Right lion. Gentleman traced all the imperfec. tions of our commercial system, and for the Government he claimed all the praise that belongs to generous, and liberal, and political legislators. "Commerce," said the Chancellor of the Exchequer, " has been too long the victim of an artificial system ; the policy of restraint was the offspring of a dark age; we propose to cut the strings by which it is bound to the earth, that it may reach to hea ven in the wide career of its blessings." The Right Honourable Gentleman seemed to think that commerce had been pressed down to the earth, and compelled, peinelbrie ridsJu re. there to continue, and he proposed to remove the weight from it limb after limb, until it reached Its original state, and recovered its natural powers. Who was it then that twisted these cords ? Not the people, but the House of Commons. It was in the House of Co tttttt ons they were first framed, and in legislative policy they were first enacted. The Chancellor of th: Exchequer had said that his scheme of finance was not merely intended for a year: there was a perfection belong. ing to it, which it would be most criminal to confine to so limited ! • period ; it was to last until 11127 t and the scheme and the speech of the Right lion. Gentleman was applauded. But who that beard him could for a moment believe that the moat unintelligible or pernicious lithium of the predecessor of the Right lion. -Gentle man would not have obtained in that House the same Appian*: ? The xo/den idol of the late Chancellor of the Exchequer had in that House its only sincere worshippers. The Sinking Fund was his most acceptable service, and ninny there were in that Blouse who son:hipped It 6 ` Of whatsoever kind of sod he be, Or stock or stone, or homely pedigree— In his defence his servants are as bold As if he had been forni'd of beaten gold." Now with respect to the rentoval of restrictions, he was no opponent 1 at a fit time to such a removal ; but lie must say that the restrictions did not originate with the people, nor the opening wide the gates of 1 commerce with that House. The spirit of the age ?equine! it. 1 The duties that had been remitted gave but little satisfaction even to those intended to be relieved. In proof of this assertion he might appeal to the numerotis petitions presented that nightfrum the wool len manufacturers of Yorkshire by the Hun. Mentleer for that comity (Mr. S. Wortley), and the declarations of his Ilea. Friense . "the Member for Coventry (Mr. Ellis), fr..m which he iqferred that the silk manufacturets of that town were little inclined to applaud the' ( reduction of duty on silk. (" Ilear," from Ale. Ellis.) need he would ask what benefit the people, whose happiness was the theme of Ministerial congratulation—.F'eficer, eta sibtoto serial! —what poasibleadviunage they were to derive from the reduction of duty on silk To the pour or to the middle classes of society it was no benefit ; to the aristocratic and the silk waistcoat wearers it might produce some trifling difference. Ile thought that this was the time fur the Houses of e'ontmons to make a stand. The Right Hon. Gent. made his budget up to Intl, and now or never wax the time to stand out for a reduction. If they did not mend out now, they would be told, as they had been told of that abomina. We and pernicious eystent, the Sinking Fund, that Parliament had determined upen its utility. The people of England had paid two billion of millions during the last thirty years (a laugh) in toms and taxes, and now arose • surplus of four millions, and the Chancellor of the Exchequer was at • her how to dispose of it. The people of England were religiously disposed ; they re -Iquired the erection to new churches, and if they wanted them ' most unquestionably they were entitled to them. Ruttish was eloquently expreeeed by an lion. Friend of his, they lived in a time of extreme pressure, and until taxation was clean gone, it was not becoming to lay out upon churches so much of the public money. The people of England were a religious people ; but he regretted to be compelled to say, that the Church was not at this moment in good odour with them ; and with such a feeling pre. relent it was had policy to add to its prevalence by the exhaustion of se much money in church building. It arose front, perhaps, the jas tinhorn by which tithes were claimed; or that failing—the jws Parliamentarihne—that strong and irresistible power from which there was no appeal. And what was the consequence of that increase of churches? In Mary.la-bonne parish it lied die effect of trebling the value of seat . in the old church, and the rates were incrt axed ee per cent. He appealed to any lion. Member ac quainted with the parish--and many liendemen who heard him ' were in the habit of encoding church there—whether he had not correctly stated the consequences to that parish of s new church, for which parliament had granted one million 1 Of the Austrian 'Loan much had been said,and it was thought matter of praise to the Emperor that he had not, recurring to diet tritium ratio regain', 1 refused to pay any portion of his debt. Ile contended, that the reiniasion of the assessed taxes alone would afford much more ge neral 'chef to the people than all those reductions of duties pro claimed in the budget of the Right Honourable Gentknien. The people were more harassed by the five millions of assessed taxes than they were by the remission of ten times that sum in the way of duties. 'lite surplus charges and inquisitorial visits of the tax-gatherers, made the nuisance as intolerable as the tax hate was unconstitutional. The tax was, as it had been observed by the Honourable Member for Reading, in the nature of a prapetty-tax, and its operation was most unequal. In Liverpool, for instance, it had the objectionable consequences of the ehop-tr.x, which Mr. l'itt was compelled to abandon. .Ind in Bath, in one street, it operated to the rate of nearly 190 per cent. There was this addi none' objection to the window tax. it was given at first as a cum. promise for the duty out tea, but gradually that duty was increased, and the whitlow tax still continued. It was a tax, ton, which fell upon subterranean dungeons, to which by a small pane of glass the fght of heaven was admitted. Ile asked for a repeal of all the women! nixes : if Alinisters would yield to his wishes (a laugh.)-- In short, these were all duties in which the public felt a great inte rest, and which should be reduced as soon as possible. Besides. when he looked at the projected expenditure of the " God-send." the sum for churches which were uncalled for, and the 3110,0001. fix repairs at IVindsor, he really thought the Chancellor of the Ex chequer Tea thrgeteul of the duty he oced to the people. He (3:r. Ifobbote.e) would appropriate at least two millions to the re mirsion of mention, including the whole of the Austrian loon and theloan for this year for %%Indio'', and also the amount of charge for collecting the beer duty, which would produce a saving In the C011:1110:1 chine of .2/1 8 1,10eit. Ile did not mean to touch the Sink ieg Fund, as it wit. considered necessary to the support of public creviit, which alioule be always kept inviolate. Ile called upon the country gentlemen for their support ; they came forward when their own interest was particularly concerned, and he hoped they would not now refill° their aid, when the general interest of the people at large waste) vitally affected. Ile called upon his Majoity's tire to realize the pledges they had given, and he was mire they winild tied the people grateful; they were always grateful for real benefits ; butt he eas satisfied they havl not yet remitted to them these tax:. which they expected. If Ministers did not attend to tee wishes of the einple. they would elan find themselves bereft of that support which they now thought they had secured, and woad men: the general censure of it:dependent nien. lie should cot trouble the House any further than by movin g the following I" Itesolves!, That It appears to this !loose, that the duties pro. posed to be taken tdf are not such as to satisfy the expectation of I the People; and that the ll' intloiv Tax. bcins an unequal and op ; !messier tax, sLall be relicaled wholly and Immediately frown the : sth of .April nest." Mr. MA lIEIIIX, Ia seconding the motion observed, that as , the plan proposed to the !louse the caber evening by the f'hancellor of die Evehetpter, was to extend over a iseri.al of three or tour years, and WA turfisat term he mei/hated no diminution of taxes, it now became necessary to peers for thit reduction. whisk, he agreed with the lion. Ilembil fur M'estntinster, was abselutely necessary. lie wished at the outset not to appear inconsistent, and not to be inistmilsranewl, iefun hr wild the plan of the Chancellor of the Ex. ChLVlrr ::as altar and liberal, rid ilia; the expenditure and revenue, particularly the latter, Was rtgher under than over.rated. Ile a in the principle of a repeal of taxes., but he still reserved to 17:7! Mr the tight of eanisidericg the deiail ; in other words, of weigh. *C.!• the taxes to be rep ales!, after all parties interested in the repeal I should have been fully heard in support of t h eir several claims. to the reilitetior Or the bounties, he agreed in the principle, but thought the vs:to:tiro should be spread Orel a period °fissile years. IV WI rest•eer to the prorosed redurtion of totes, he the other even in; °Nevi ed. that he did not thick it sufficient, and he was still of the /Mite opinion. Ile thought the cominutiree of taxation a grievente. when three existed a fund from %la.+ it could be re. ; wed he ci old have mentioned it &trial the diseusiion of last 'Sfinittav, hat that he had not given the ClAncellor of the Ex. cla , ei acil he nett thiset:tre press i: set his attention. Ile thutight the premed a favourable opper.ucit; fir looking at those finan-e measures which were intended to be continued till 1tr.17 ; in fart. the -..sincr the stilneet was fully entered int s the better. Ile ly h •Seved that the pi,! , lie were not satisfied with the pro pos,sl redurtions, and that the es-auction of the WhillOW.laW, and he n,ight add the a•hol, of the assessed taxes. might be repealed with the greatest possible advante.ge to else public. With nispeet to the re:i.al of the a indiw-tax, he need nut say a wont ; fur the Chan cellor of the Exchequer. by a remirsion of 50 per tent. already off , that tax, had ailinittrsi its necessity. Seemly, however, did that 'repeal take place, a hen a fresh survey commenced by the Commis. siemens, and he was quite sure, if the l'reusury order had not been ismed, the table el the House rould be loaded with petitions from cvt -y gunner of the kingdom. This order however only extended to the Louse, and not to the window duty. If those taxes wereredreeti, he was :env that many petarns living &hymnd would return to this country. anti thereby benefit the revenue more than the produce of thoi , e faxes. Ile was besides not blind to* the want of comf l oet which these taxes produced against the poOrtr Lid middle elasse% who, I . la consequence of the premium.; of those taxes. were obliged to be comprt.sse:l into small r 003114 where old and young, diseased and soitna. wi re crammed together, and that to the great danger of their morality. These were evils which miglit not be very eaten.' sive or very visible to persons in the higher walks of life; but still the 14 , gislature w SS liound to take them into their consideration. The none argument for the continuance of taxation was the support **public credit. To rOpport this public credit, the House re-1 solved to have a sinking fund of five millions ; and, yet within one I fortnight after that resolution, they came to another, by which they brought that down to a little more than two millions. Such was the inconsistency of the Government and their supporters, and yet !they now again dung to their favourite fire militia-. as necessary to the upholding of public credit. Public credit could be its well supported by the one sum as the other; and the more the taxes were rcslucal, the stronger would the public credit grow : the more so, when all were agreed that the strictest faith should be kept with the public creditors. Looking at the whole revenue and expenditure to Din, it appeared there would be a surplus of 4.135,10•91. ; but no sooner had the Chancellor of the Exchequer obtained a certain portion of the Austrian loan than he began mediately to wanton—the money burned in his pocket, louse tho vulgar phrase ; - but he repealed no taxes in consequence of that ..OW-send ;" while he (3lr. Moberly) contended there was no right to tax the people one shilling wore than woukl satisfy the honour and the character of the country. Neither had Government • right to take taxation to maintain n sinking Fund. Looking a t the items of charge for 11124, the first sum that struck him was that of 500,0001. for building churches. He had rot heard of any pe titions praying fur an increase of churches. He saw no necessity for them, and before he could vote to appropriate such a sow for such an object, lie must have sufficient ground laid before him to justify such an expenditure. ll'hy not lend the Church money as they did in Ireland 1 There were no grounds laid for such a vote, and, if there were, this was not the time to grant it. The next item was for the repairs of 'Palaces; and hue wished the King of this country to be magnificently lodged but thin he thought some of the old Palaces should be sold, and* new one built with the pro ceeds, suitable to the dignity of a Itritish King. flowerer, as this sum might be spored, he would not press its omission now. He perceived, in looking at the amount of the Sinking Funil, cal culated by the Chancellor of the Exchequer— That for 11124 would be - .C.5,284,4:41 11126 - 5,4611,4011 1827 - - 5,638,468 All sums taken out of the pockets of the people. In the collection of the assesiud taxes, there might be a saving of 300,0001. There was also another he ad on which a consideratde saving might be made he alluded to the affixing the duties now paid on malt and beer, to malt alone. If that was done, the whole sum charged for the collection on malt would be saved to the public. Suppose the duty on malt to be now lfM., smite be increased to 20e. . • the charge for the collection of the beer duilew. Amounting to 2/10,0001. would be annually *awed, and the poor man have his beer as cheap as the rich. On this day week he intended bringing forward a motion on that subject . • and he hoped it would meet with the support and ap probation of the House. If the Chancellor of the Exchequer had followed his (Mr. lliaberly'R) items, he would find that for the four next years to mine he would have a sum of nearly six to se ven millions to reduce in each year. It was said, however, theta winking fund was necessary; which he denied—be-ranee he was aware that Government had a fund at its disposal, which, if pro perly laid out, would even satiate those who called out so strenu ously for the support of public credit. By the operation of this fund exchequer bills would be taken at par out of the market, which, if we were going to war, would be funded at 75, and pro duce a lose of millions. The operation to which he alluded was the sale of the land-tax. As a tax he objected to it.—it was unjust— its injustice was not denied by Mr. Pitt. It now drooped and de clined ; though in its origin it was intended forthe support of pub. lie credit Let Ministers effect a sale of it now, anti they could at ones reduce the assessed taxes. If that were sold, hoonnepout, could be re:heed, which would raise public credit, and render a sinking fund altogether unnecessary. Supply and demand, when equal, always upheld public credit. lie would Five to the Minis ters the full power of selling the land-tax ; attaching to it all those rights which might render it inure valuable—such as the right of voting, killing game, and the eligibility to seats in this House, of which the landed interest could rot properly complain. Ile did not calculate that any hazard ern* attend the operation he had re commended. But let the Ministers first try to effect the sale, and then, in the event of success, proceed to a redaction of distance- Ile hoped this suggestion would Int attended to by the Chancellor of the Exchequer t and if he pledged himself to attend to the subject, lie (Air. Moberly), in return, would pledge himself not to call for a reduction of taxes, until he had time to effect the sale of the land tax. It, however, the flight liononrable Gentleman would give no such pledge, then he (Mr. olaberly) asked to let the matter go before a Committee, with whose decision he would feel satisfied. lie was pleased at the reductions which hail taken place; but he did not think they hail yet proceeded far enough. It' the Minister. reduced the taxes which he knew they could reduce, they would add tont( rially to the comforts of the people, and prove themselves one of the most popular Adminis.r.sions that ever sat at the other (ministerial) side of the !louse. When he said popular, lie did sot mean it in the idle acceptation of the term ; but in that proper sense in which men of knowledge generally understood it. For these reasons be should support die motion o. his lion. Friend the 3lem ber for Westminster (Mr. liobbouse). The question being put, The I.IIANCELI,OR of the EXCHEQUER said, I must confess, Sir, that I feel myself in rather a dilticiilt situation ; fur it k not only my duty to defend my own propositions which I submit ted to the House the other evening, but also to explain the grounds on which I think I can euppor: them, and those on which I can not acquiesce in either of the plans of the Member Mr Westminster (Mr. ilithhouse), and the Member for Abingdon (Mr. Itialietly), I trust, however, that I shall be able to justify the roam I took the other evening, and to show there are no grounds for acceding to the plan of either of the Honourable 31embers. The contest he. tween us is of a novel nature, fur the question between us is not, as to the decrease of nixes on the one hand, or the existence of those maintained on the other ; but whtather one of two particular modes should be adopted, to give relief to die people. I do not clearly understand whether the lion. Member for Abing don intends to support the Hon. Member for Westminster. Ile admits that my proposition' are just and right in th emselves, but he wishes to superinduce an additional reduction of taxation by a contingent plan for absorbing the land tax. lie is content, at present, to waive all idea of the reduction of the Assessed TIM'S until his plan shall have been carried into execution ; when, it' it should succeed, it will be competent for the House to do so. Ile cannot therefore, in coreistency, support the Ilan. Member for Westminster. Besides his plan has been already ben,re the (louse. It was last Session submitted in detail 1,) the !louse, and it met with no very active or strong support from any part of the Ilouse. There may he good reasons for inspiring the law relating to the reduction of the land tax, with more life and vigour. 1 will not deny the necessity of some reasonable measures of that description. But it should be borne in mind that the circumstances under which the progress now goes on slowly, are diametrically opposite to those under which it proceeded rapidly. The funds were then low and the land high. It could be easily understood that the landholder had then an interest to transfer his stock for the redemption of his land-tax, but though agriculture had somewhat recovered from that depres sion it had suffered, yet there were not the same motives new in operation as at that period. The purresc of the lion. Member for clbingelon was to take out of the market 30 or 40,000,11001. of stock. The inducenieit, however, roust be strong, or the plan would be inoperative ; and I do not think he is justified, on the as sumption of the perfect success of the plan, to pmpine the reduc tion of the assessed taxes. The Hon. Member for Westminster prefaced his motion by a great number of remarks which I think were not strictly applicable to the subject; but, perhaps, as lie looks upon me as having toilowed the same course on a late occasion, l hare no right to arimadvert upon him for imitating what he considers to be my example. l le thinks, that when I expressed the opinion, which I sincerely feel, that it must be a gratifying circumstance to Parlia ment to look rotund and witness the improvement that has taken plaec—an improvement beyond the most sangtine expectations, not only or l'arhament but I believe of the lion. Gentleman himself; for, though I have frequently heard him dilate on the dilficultien and distresses of the country, I never heard hint once say that he contemplated for a nialient that it could be relieved from those dif. timid's and distresses, except by certain alterations in the form and construction of this House, to which I will rot now more fully allude: I say it appears, that when I paid what I cum-Wend a just compliment to Porliamest, the llon. Gentleman thinks that I over looked all the merit of the people, that I neglected what was due to the energy with which they met and the fortitude with which they vassal through those difficulties and &stresses. and the virtues which for so many sees have characterised the people cf . England. (Loud cheers and Cries of ••liciar.") I hope I never shall be found so ungrateful towards them, who are themselves ever grateful to their rulers for the happiness they enjoy, as to forget their nterits or refrain one moment from making_ thine acknow ledgments which it may lie within my power to Wet. for the con duct they have displayed. (Hear, hear.) I readily admit, as all ininklnitmust feel. thatit is use to the exertions pt' Parliamett alone sub unassisted, that we are to ascribe the hippy revolt we have attained, but to the energy end spirit of the people that we are it. 'great part to attribthe the relief of the nation. (cheers), ar.d 1 arc coutident that the sentiments I expresses! last year in the speech to which he alluded, are not justly liable to the reproach he has passed upon them. The Honourable Gentlemen has argued this evening that notch di:appointment has been produced in the coun try by my statement. He says it was not calcuhited to give saris faction or becon.e in coy respect )copular. Ile complains that it is 111) madeout as to convey the nielareholy and gloomy prospect of no reduction of taxes liar four years to come. sea w all morale that my prop oeitiore are not, in the crdinsry ser.se of tl.e weed, popu lar ; but i: would surely ill become a person in my situation to overlook all the ;rent principles which he ooitht to apply to the re gulation of the co ntmeree and Cornets of the country, (hear, bear, hear,) merely to obtain a temporary popularity. ( (: lic:is.) If he did, I ant sure he could obtain no solid credit for himself ; he could confer ro solid good on :he oltr: try. (('heum.) From the unpopularity of my state-menus, it' it is indeed unpopular, as the Honourable Gentleman asserts, I am at least entitled to say that it is utterly impossible his 310)esty's Government can have had any earthly oblect in drawirg it up, except to take advantage of the lust hivourable opportunity to call into activity and life those sound and enlightened princ;ples which every man, whether on this aide of the tionse or the other, every man I believe in Parliament, every man I may any in Eng land or any other country, who has ap plied his mind to the consideration of the subject, deems net only to be of the greatest importance relative to the ineercourne of natior.s with each other, but übsolutely essential to the well-beingor states. This I cot eider to be a legidaute object. It is, I eat sure, one of which 1 shall never have reason to he ashamed, (Chars.) But though the Honourable Gentleman admits my propositions to be right. he says they are not popular; they are not calculated to sa tiety the just wishes of the people. If this were the fiat moment when 'he reduction of taxation was taken into consideration— if the same distress was still in existence that premed upon the country three or four years ago, the question would assume a different shape; butnow I contend the lion. Gentleman is for beginning at the wrong end. He forgets all that Parliament has done. Ileitis gets that during the hart three years, three millions of assessed taxes have been repealed in this cimetry, and the whole in Ireland. iii lie forgets, that from regard to the well -being and comfert of the I pourer classes, Parliament has espealid ups-3:as of three millions of taxes on malt, salt, and leather. Ile also forgets the important pmpo sition considered last year, and which the Hous e !tan induced to carry, as it were by acciernation, I mean the proposition fur re- clueing the duty on the distillation of spirits in !relied, by which a sacritice of the revenue, to the extent of 1100.1 1 11101. was made. ;Parliament cannot do every thing at once. To ridiculous an ationt t would only throw all things into confusion. I have she IVO In the instances of the assessed taxes and the duties on unit, Lilt, and leather, that Parliament has inarifested every dispersos°n to relieve the people. I rare not whether the Ho nourable 1/entlennui considers this result as the voluntary act of I Government. or as forced upon us by the other side, or both by ' the clamour of the country. The fact remains, that G.iveriintent and Parliament have shown every disposition to relieve the pressure of taxation at the moment of its greatest pressure ; and I say there fore, it is too much to charge us with indiflirenee to the wants and iwishes of the people, because at the first opportunity we proceed to adopt sound principles for the future, even thought we do so in preference man itnenetliate remission of taxation. I hope that Par t liament will support us in these just principles, by maintaining and ; upholding which we shall be enabled at no distant period to ton tribute still further to the reduction of taxation. (Charm.) I think therefore it is the duty of his Majesty's Government to watch with Inc @sant vigilance, the promotion of these principles. I should be salaamed if I kept them out of sight for an treuun. I have re commended the first step to mount the ladder, and I hope the House will not suffer heel( to be run away with, to give a more ion retaliate gratilicution to the alleged wishes of the people, but that it sill take a wider range and more comprehensive scope, and sup. , port me in that plan which, whateni there may be in its details liable to objection, I have not heard one individual in the House say is in principle wrung. (('heers.) I shall now allude to that par of the Hon. Gentleman's speech in which he considers itly siateniebt, as precluding all possibility of expecting any fur ther reductions of taxations for a long period. When I took a view for four years io come 1 did so because I wished to pr oc e e d upon tale grounds. I would not incur any risk ; I would not go too fast, lest I should he driven back, and do mischief instead of benefit. I admit that the remission of taxation must, in every in., stance, produce positive good (hear, hear), and the means of a still further reduction (hear, hear, heat); but no man who looks at the subject with the eye of practical experience, and the fore thought which a person in my situation ought to exercise, would calculate that the reduction of taxation would so immediately ' produce these consequences, as the Honourable Gentleman seems to! expect. There can be no doubt that the effect of reducing the assessed taxes will be greatly to increase the remainder ; but it is impossible to assume the improvement within any given and limited time. I extended my calculation of the state of the , finances to the next four years, for the pureose of shewing what would be the result, if, during that petinel, the revenue did not in. crease, nor the expetaliture diminis h ; but in fairness I ought not to have been undersimel to say, that I slid not expect the' revenue to increase or the expenditure to diminish. Nothing in my opinion can be more unwise than to make a mere sanguine calculation, leading to error and disappointment. I conceive that in the course I took, I was justified l.y every principle that ought to guide an individual in my situation. The Honourable Gentleman thinks . me wrong in estimating my surplus, because I included the re payment of the Austrian loan. I could not leave it out, because, if I made it available to the genera: service, it must be added to the general account; and I made no additional charges, except those for the Churches, Windsor Castle, and the pictures. Dahill loan had not been repaid, I think the country is in a situation that would have warranted me in asking for a rant for those objects ; and the only difference would be, that I could not have proceeded so immediately to effect a reduction of taxation. I shall take this opportunity to advert to a subject cf great importance, which war introduced into the lime discussion 011 these questions by the Honourable Member for 3lidhurst (Mr. J. Smith), respecting the duty On law proceediegs (Hear, hear.) I was rot insensible, I hope I never shall be suspected of being insensible, to the evils of those duties, though I confess I was rot so strongly im pressed, At the m o ment of drawing out my plan, with the evils that do and meet result from the operation of those duties. lam bound to acknooledge that it was my fault that these duties did not Ct. AT into my plan of reduction. (Hear, 'hear, hear.) I am strongly impressed with the infinite (I think that is not too strong an epithet) evil of these duties, and I have endeavoured, by all the means in my power, to find out a mode by which those duties may be reduced, and it is with the greatest poseible !satisfaction that I now state that these duties may be re. dueed without infringing on the principle of the carculatiosa I submitted a few evenings *go. I am aware that I ant making a statement that will expose me to reproach. (Cheers front the Oppo sition benches.) I ant happy then to find that it will not be the (Chte.-s.) I feel grateful to the House for the kindness with which they allow me to correct ashy mistakes. I said these duties produced infinite evil ; they have been in existence more than a century, though that is nu argument their favour. The only argument I have ever Lend for them is, that they have a tendency to prevent litigation. (Hear, hear.) I doubt the fact; but it is quite certain that whatever good may be produced from the prevention of litiga tion, is ten thousand times less than the evil they produce if they deny justice to one man. (Cheers.) On lookin,.l into the detail I was gratified to find that in point of fact these duties in England did rot exceed 180 Heil.. and as to Ireland, though I :Auld make no calculation, I think I may safely take the produce at 20,0001. The emu, therefore, to he made up to meet the loss to the revenue will be 200,0e01. I have cast about to Lind the means to provide for this deficiency, and I will now tell the House where I got them. There ate nee modes by which it is practicable to effect a reduction of taxation ; one is by finding other resources, the other by reducing the expenditure. (Cries of " Hese, hear, hear.") i)on't let the /louse suppose that lam going to propose a ucw tax. lam not about to treat it as a matter of composition ; but it happens that in the calculation I made, I omitted to advert to an important source of revenue, from which much may be ex pected, though of late years it has brought nothing into the Treasury—l allude to the Crown lands. 11l the provisions of the Civil List Act, this branch of the revenue is placed under a par ticular department; and the profits are applicable to the public revenue. They Mem part of the Royal property, but are always assigned to the public service, like what are called the hereclitaiy reverees of the Crown. They have always excited the attention and vigilance of Parliament, as consisting partly of the royal titrests, from whence comes the supply of timber for the navy. The income from this source has been ceinsidernbly increased, but it has hither 'to been absorbed, or more, in certain expenses. in the fommtion of the new street. No less a auto than littn,oolll. has been borrowed at 3 per cent., on the credit of the new street. The interest has since been reduced to 1 per cent. These expenses have now ceased. For some years the only sum paid into the Exchequer from the Crown Lands, has been a sum of 900 or 1110111., arising from a lease el sotne alum mines in Yorkshire. I estimate, however, that in 11125, this branch of the revenue will be enabled to pay into the treasury a considerable sum, which, in 1826 and 1827, we'd be still further increnred. 1 think I may safely venture to calculate on 1419,0801. per annum. In that way I shall find means to meet half the less. The other half I expect to derive front the regula tions now in progress for the more efficient management of the collection of the public revenue. I have received a communica tion front my Right lion. Friend, alto is at the head of die ( can. mission ; and from what he has informed me is already done, and prepared to be done hereafter, I feel authorised to venture to cal culate at least on an additional ItkLeiltil. from that source.— In my former statement I assumed bO,llOOl. far the Customs, but not for any other department. I think I can rely safely or. this eat. eulatien ; and I hope it will not be the less acceptable to the !louse on that account. (Hear, hear, hear.) Ido net think it necessary to follow the lion. tientleman into the subject of the grant for build ing churches. His admission isjust and important, that he would ; be the host man in the world to object to the grant, if its necessity could be shewn. I should not have asked for it unless I was eat.l &lent I could have shown the necessity, and that the money already granted for that purpose had been properly aml beneficially applied. I That nutrition, however, does not affect the matter at issue between the Him. fientleman and myself. It appears to me, that the Hon. Gentleman is involved in a radical error. (A laugh.) Ido not mean any joke, I assure him (Hear, Inner. hear); but he. assumes that Government can afford not only the million I propose to take away, but also the 700,0001, he proposes to take away. Mr. If (arms the table) intimated that he alluded to the Austrian loam. 'the C 11.% NCEI.I.OR of the EXCIIEQUER.—But what will the Honourable Gentleman do then fur next year ? lie dues not talc!. quite so business-like a view of these subjects as I am bound to do. I look forward to the next year. I do nut deny the value or weight of the objection that the isessed taxes press on the peo ple. I admit they prer.l with severity, Intl therefore when I could I considered it theft t to lighten the pressure by a remission of 2,2041,e11td. The I lonourable Gentleman has referred to some cen sure that has been impnteit to n:e for something that Itas been Sure in the collection of the duty its windows. The tax- office directed the surveyors to make a latish survey of their districts, and it is true that an the letter there was certainly an allusion to the per tentage that we mid be allowed if the surcharges were establish ed. I ant glad to give an explanation of what Government really intended in that measure, and of what guided me in' sanctioning that survey. It was reptesented to me that their va. a great inequality, in certain parts of the country, in the male in which the house tax was assessed. It was retieesented that some houses, le : roily holde, leen cot assessed, and that other. of vcaetly the same tent, slre, conrenience, and vature, were it , se-sod at dif. c .Yrent rates. Nuloc.,.'v will venture to deny that it is Or the essence of justice in a tea that it should be eqval, and that if evasion is practised by one yerson it the expense of alother, the diiivience ' tahen from the latter is. in fact, robhed front hint. IL was found that eie ineenslity in the Ca , : Of the !:.rose tax prcvaile t to a great extent and . the result of the fresh survey was, that the total pm duce of the house tax was raised considerably above the amount of last }tar. It his been objected that I ought not thus to screw net the last li,rthing that the Act will authorise: me to es- 1 ten hut I will tell the Hon. Gentleman what my object was in this new surrey. If it had turned nut that by raising the tux equally and justly, the total produce had been increased beyond what I had calculoted„ I should have felt myself bound in justice, con sistency, and tair dealing, to have come down to this douse, and proposed a reduction cf the rate. (Cheers.) Ilut as the object of the sorvey was misunderstood. and it excited so much clamiter, I directed the surcharges not to be enforced. I feel it my duir to state, that I shall now direct the survey to be continued : for I du not mink it foie fur one man to escape at the expense of another. If it should increase the total produce of the tax, that will be a fair ground fur reducing the rate of the assessment. (Gear.) 1 am glad to have had thisopportnnity of giving this explanation here. where alone I can give it. I will not tenable the Goose further. I shell not re-argue the. question of the sinking fund. It would be useless, since the House 'has decided it, and I will not weary the attention of the Slembers with a repetition of arguments, which, however un palatable to the Ilan. Gentleman, is perfectly astisfactary to the 'louse. I assume that the House is rte. disposed to dened (rent the principles they have an recently- sanctioned, and rei.eind the law they passed the hist Cession. The House cannot adopt my Out and his in concurrence. I think mine is the best under ins-sent cis. I cutnetances, and I confidently leave the question to the tlxisi.in of the House, satisfies] that they will not consider that in the comae I have pursued, I have not acted with indifference towards the wanst, wishes, and feelings of the people, but in an honest endeavour ' discharge my duty on sound and liberal principles. (The Rig t Han. I ientleinan concluded amidst very great cheering.) Mr. J. SMITH expressed himself gratified it the prOpm e d e , duct ioa of the stamp duties on law proceedings; and he aisnidOie expenses in other respects could be brought under the considcra:ion of Parliament. In his opinion, all the surplus ought to op era ., in remission of taxation. Suppose an individual with a inort;! gee on his estate of three-loofahs of its value. Suppose, by somearci. dent, lie received a God-send of 10,0001., and he applA to an it . trillion: friend to kn.'', what he should do with it. What advice would he receive Ile would be adviced to pay his debts is the first instance, and. if his creditors were not pressing, hr souldb e advised to make his tenants happy by reducing their plus The lion. Gentleman then objected to the grant for building choreic Ile knew the obloquy and horror he might raise against him, but he could discover no reason us justify a vote of :iiio,oool. f oe sari a 1 10 7"e- If there were not particular circumstance ' operatia l against the Church of England, churches would arise as fast as chapels. The lion. Gentleman then alluded to •several instances within his own knowledge. of disputes about rights of prtmentatiou. He agreed with his lion. Friend (Mr. Illaberly) so far as theta plan would form an admirable resource fur the support of p o w e credit, in case of a new war. Mr. GIPPS supported the grant for building churches, and re. (erred to the last report of the commissioners, to 'thew that they had • been obligee., in tnany instances, to reject the applittatim of I parishes.. Mr. WHITMORE would not trespass at any length upon the • patience of the House, but be could not retrain hum uurring a few J observations on the subject before the House. and ceprtatn g his • &eller, tel gratitude to the Right lion. Gentleman the Chancellor ' of the Exchequer for the plans of finance which he bad nubmittod ; plans which he considered mist consistent both with the canoe tution of the House and of the country at large, and which, titter. ' i severed in, would lead to the further reduction of taxation. la his i opinion, no method could be devised better calculated to attain the , object in view ; mud he tbowet himself justified in expressing not i ileac his personal gratitude, bat also the ferliege of the country is genteel, fur the measures propeont by the Right lion. Gentleman Delimiter and he telt sincere pleasure in the idea that the time was not far distant when further reduction would be made. He only ! regretted the present reduction did not go to the precise even for which he was anxious. Whilst upon the subject, he ventured to ; hope the House would go back with him to a topic which he sag greed to the House am the last year, which he considered to be of J vital consequence, and which he would, at n o di stant per i o d, en . deavour to subm it to the attention of the House—he meant the question of the corn tirade; end he would maintain this, of ail questions, most sleeted the prosperity and interest of the coin. try, and it was of the po!oist importance to the interests of the 1 people that all the prioadbees open this subject should wear away, and the evils springing hen the system so hostile to every sound principle of good policy andjostice would be abolished. This win the plan lie proposed to tbe House, ablest was consistent, rot a l o n e with theory but with pathos, and be would take the liberty of tb. nimuientling the Chancellor of the Exchequer to adopt some Ines. sues upon the subject to which he abided, and by this mese, he would provide for the are (if it should happen to occur) of high prices ; if these high prices did return, provtaion could be mole for their extent, aid for the height to which they might rise. He had on a former ocrasino brought this topic before them, at iltc last I time of their meeting ; but he could not, consistently with Lis fete • lags, omit the opportunity of stating his sentiments, and expros. ins his concurrence in the plans of the Right Hon. Gentleman. In this course he was influenced by the deep sense of the importance of the subject. lie could net bring himself to vo'e for the preps anion of the lion. Member for II estminster ; in his opinion the Right Hon. Gentleman won as far as be could. He was convinced that these great and sudden reductious would not be consistent with sound policy ; and in the view he took of the question, the evil would not be remedied by the repeal of the duties which was sought for. Ile would vote on this tecasion as he had on many others, influenced by a sense of his duty, and in direct opposition to his helium,. There was another subject alluded to by an Hon. Friend of his. lie did not mean to discuss that question. berause he did not understand it ; and he hoped before it was discussed it the House route light would be communicated to him upon the subject. Lord ALTHORP rose for the purpose of stating that he agreed entirely with the Right Hon. the Chancellor of the Exche quer in the reductions lie had effected, and in the plans he pursued. He only disagreed with him in being of opinion that the reductiens were nut carried far enough. Ile entirely concurred in that part of his statement in which he promised to take off the taxes on law proceenings ; and that he would make inquiries into those ether taxes which could be removed. These statements had been made, as were all those which he had occasion to make, by his Right Hen. Frierel, in a manner which must be respected salons as can. dour wee reckoned a value in the House. (Hear). It was a grate ful. a satistnetery circumstance to him, to be able to pay this tribute to his Right Hon. Friend, whose intimacy lie had the pleasure of enjoying for a long time. He agreed with the proposition for the reduction of taxation,. His regret was it was not carried (nether. If the lbws...Lad attended to his conduct upon various occasion,. it would recollect the decided opinion he had always expressed on the subject of the Sinking Fund, Ile had ever maintained, and he would to the last, that the real prosperity of the country would be caused by the reduction of the interest of money, end not by the establishment of this fund. It was an utter impossibility that the welfare of the country could be influenced by Slits fund. By means of it there were applied five millions to the payment of the mine! debt. This debt was to be considered in the light of a perpetual annuity, and the taxes raised for the purpose of paving off any pan of it might be considered as part of the %peal. Therefore, it an attempt was made to pay off the perpetual annuity, it was tee 6= thing whether the interest was reduced to 3} per cent., or a reduc tion to the amount of one-eighth was made on the capital itself. The capital which the country had for the purpose was sixty-five mil lions, and there was surely no difference between making a reduc tion of the interest, or by taking a propertienal sum off the cairns]. The only question for the consideration of the House would be which mode would be productive of the greatest benefit and ad vantage to the country ; but in his opinion the prosperity of the country was not caused by the fa/union of the interest of the national debt ; it was caused and produced by_ the reduction of the rate of interest of money in the market. He had often, he ad mitted, heard there was no such thing as a money market, but this lie denied; it was manifest to all persons who considered the state of commerce that there was one. The sum devoted by the „narking fund to the payment of the national debt was s,ooo,Peei, and how, he would ask, could the alteration of interest on this sum affect the country at large ? It was not the :Sinking Fund, it was the increasing wealth and the accumulated capital of the country, which were the near /I of reducing the interest of money. It was an otter impossibility that the Sinking Fund should have those corsequeoces ascribed to it. The ninount of the interest of the redeemed annui ties was but leilettutfl.; and what effect, he would ask, could this trifling sum produce, when twenty-seven millions were brought into the market? The effect thus produced could be little or nothing, and there could be ro pessible inducement to continue the operstioa of the Sinking Fund t but he had no noubt this sum would be pm ductiee of the best and nos: beneficial commitment, if the eve millions were put into the pockets of the people, and if they were rendered serviceable to their industry, and to the improvements which they would be disposed to make; and this accumulation of capital would tend to the reduction of the interest of money, and would thus give Ministers an importunity of continuing char or.' tem ; it would give an opportunity of reducing tartest sad it 1 shuuld be admitted by all, that, after therm selected by the Right Ilotioetraine Getutlenues, the tax on windows should be one of the first reduce'. Ile would therefore vote fur the propewition of his ' llououral.le Friend. Mr. BARING said the fate of the cunt inn before the Hourethat t o h r e s o u r r i i il i tT r he eve le n l u b e y : th a e nd H a ere t the subject , be did not think budget ; but as the question to the House and the Country, he could not refrain from saying o ie T'ctifil fair re d nt3 t h e i na li'' si the t hs e j b g gb .72 f It' u °•.tn n wro d :fahl i l e e s gthi one 'sinkingeapteil o rai ge f nihy g grat e fundof a on e an e and serious importance, birth a few words upon the subject. The argument used by the Neble Lord who had just sat down, and which caused at least some sensa tion at his stale of the House, seemed to hint peculiarly strings and unfounded. especially Viten he considered the good sense and talent display rep by bis Noble Friend on other occasions. Ho bad stated, and truly, that the national debt was fairly and essentially an annuity, at•n the capital was limited to the amount raid oft ; but he utterly forgot to make a difference as to the stock-bolder. If the interest nes reduce', by an act iif force and violence on the one side ; cr. if the Governmen: by Teeing the price oh ' stock. were enabled to pey o ff the debt, an d thus it gave to the pu elk creditor the benefit eat his full contract, it del :et hint all that .t pro. mimed to do, and she, extensor gets his hundred pounds, which he had a nght to ere eel, aid cr.:need him to go Witla it where he pia:teed; but te seppose, when the legislature of the Mon. try had resolveet to come,' the renustioe et the interest, that the measure would be the same as it it were iiineted by general agree- I mem, wart an ergurrent lie could not comprehend. 1 litne Lord Abhor', denied he had teed cry such an:emcee I He (Mr. llarieg) i was so much surprised by what lie smite set: to be the sentiment of the Noble 11•011: that he could net give cretin to his ears ; be:: he had ito climb: the Noble lord said that the prices of steels did not j depend on the Sinning Fund. T'tie arise:lent he would deny, and Ihr would positively Arm they did. Ile mei the rate of sten' r would be hither it' the market was open to ail purchasers. Ti. • lie would athint would be the ense as long as the credit 01 the country was roe. but v•iien it came to be known that the Govern.. silent beerier( et nate hi a . ime of car and did not tane the in portunity of paying of in tiaM of pence, ur.der these circunistanees the public creditor would look to his eltence of ' , murky. lie wnuld ret led his mute if his security were rot to doubted, ill d if there were the Lem question about it • tind wen, be enkod, judging by experience, and looking to the narlous alternations of peace and war, to which this as will as all other great rummies was liable. if such an event hap pened or were contemplated, no man w:lo was not a fuse or an idiot would lend his nioney. If he aril not rely on the efficiency of the 'inkiest fund—if lie haul not confidence in the credit of the Govern 11101t, it wads! :',..• a gross want of sense in the lender to teach the stocks, even theitgh they enered a payment ef ten per cent. The money lender and cepitanst always looked not alone to the money of a country, but they also considered the credit of the Government. This was the case nut te:ly here but in all the con-tries of Europe. s a proof of this aniertion, he himself knew the five per cents. in France to betas low as ee Cr Go, when the market rate of interest at Paris was from et to 3 per cent. ; a private irentridual of good credit might eenctire it eat that rate, and the Cularernment was • erten compelled to pee• ft or 1(1 per retie The same thing may be aimed of Ilonanei, the country which was reckoned to posseas the mote sensible invite upon matters convected with finance. Morey could be had in that comet,. for 3 per emit. by individuals, whiht the Government wns eierimlled to pay 5. The unison of this was, the expentlitare of Holland wes greater than its finances, and con sequently its credit was good the nothing. The people there bad c:'u.! to perceive, that wie.o e Goren:Lent contracted eXperset wore beyo thel though they nd could be v-uch obliged • or vslue ii n, and est ' peace Of quences wt been aboard. b -y. (Hear. bee tbz greatest A, if it *ere perfection of hu compelled to go an contemplated Membercerminly I 111 ith nu t this i . __ upon in not the advocate of tours d to pa Jetta of the come war. were WIT, country wanted a Greater 'drama -• it again by gra made •pra of Lord Si, ofsCet, disc no Urger a hope assumed all the f - to whom he a ' of taxati c to raise would not He was not ii W3i to acquit, at the . could _ looked for the ro who thought poriie spot Rh seem es AO el of 4 than of 6001. a yes wee a bad no icre would be country had Inance or any tithe may better go to the a OVlZlalled VIII 4.T a disc then than her treasury it the source and fa 'e the House, luction of tax louse for bringing for, . truth be visa cot a ahould be also inquired With respect to the n be the best to take of; ha merit. II is was time., and in all e tan and in his interooune tlitut complain of this It pco.sed uport him. I be used for agricultural off salt was a in:stake, d w ea ild be tam wi tepeal42o.lo3l. w Frecch ?ilk.; this re would be the cause of i peal the'e was low a au was 910,001., und wou was also them rt. , ennuis( d at 210.01101. th applied to ou:repeal act it y to all class _ would reline the vexaticus of all. He taken nff: Those %hi. mantlitturcd a-ticles s seutetie-s as those eclle p.ratite when he was Member for Abingdra, ow the reason or the it p-oeisely as b fore, it wild fur thirty or tl in n money, it wouli and if that was taken as a kind of sinking or t to discharge of the or the plan. lle 'hoop should be paid at the sr plan which the Hight from which he would ni of the coon ry would is dared, the three per cri ',curdy of .he public they all had in view, tl mately obtained. Lord ALTHORP e spokes last, that the 3 h•d glen into di rate of Interest on t h e rronevotarket, if we s not help considering tl tunate : that Governno per tent., whilst a pri bad acesunted for that the expaiditure was gri thereto e to be made u; There was so .ax in the shable anion taxes a , duties on salt, he agra this tax, without its al co lx ors. If th a wet • b t not oche wise. duty thin to coat nue cause it p events be a of a grist bomber of ieyors tad wsesaora. the rep. al of the \Vint Lord MILTON tai of the tautly might r Staking Fwd. Toe I dye of a f a t peopk--4 (Lied Woo it as a Alt lug Fund w nil not bi his Hon. Friend (the would not rather lend iointry Ulf ch had to with a Si rp:us ewer so pan d rnt.thing unit+ for the putrcs • of int was not b cause it ope "proud tee &skiing Just, that to create t teced. Vert etas g !h y oik of the Natiot it ..as lio!y a prontis w lye of reducing the de'* itself; I V tick the d bt praise th ir the . ne is done or di 'Man ry would be ii It of tt e people. As yr r, the staple hail a r w. ul 1 not at preset the Cl a icellor of the) etpedi n to reduce ; I hem • o much aide I • be sue m , tted to He 41:d not agree wilt t of the unimportance c existed, perhaps wish t of which would give g With respect to the t up n.--that on onals, tidiest of its being the taxes were to be rem most goorrally fit pars of the century h aitteration of the Hoe that the reduction sh beer. Mr. HUME could Member fur Taunton almost every person in vested entirely on the 1 not kept up. It spree Era the national debt witablishoter:. Tee I to sixteen millions, lei Orem Britain in the ye !bat if the House Josty's Ministers a.wtlt 'bent. He did think t taken the argument. of common integrity refused to ray off th.pro by such a proceetli: g the community of whio Alember tor Taunton' lours I" but he (31r. oe from what had 7elos.as far only es 17' were borrowed, fur no eltilds—a Sinking FM% Prtiftedittg was the was sure that the mini When the 471 million' was borrowed at 31.35. ler.t it out, and ot.ly his orl every NW. resolved that the Sink once to the state of the awry to have a surplus the Bank. Nothing as Al ember for Taunton d omino' to persuade 't that the public credit :, wore beyond the: though they mule be much obliged f i tg e l:y or value is on, and rat a of peace ow the coosequences an had been abused, b (Hear, at c ountry. h jest of the greatest abused, if it were the perfection of hu were COlTlpelleal to gn often contemplated n. 111 ember certainly I done without this f . be reflected upon in t tiot the advocate of i i would of course attached to pa ilk des better of 1 wank the come • 4 t dantwastrations wt 6 end in war, but ythe cod war, u r ntrys w a er nteel e I a greater advents pay it again by gni . , an was made :Ira i n i s tration of Lo Si , is holding office, disc as no urger a hope • • 'ad assum ed all the f 'Moister to whom he a ldiopipostibleroposal °t to . ta t -aim ' diots, they would not ce. He was not i it was to acquit lairoing against the new these taxes could as to the Constitution mainly looked for the • * Dlernbas who thought im the rearm spot wh Loge 1111110 OS il Oa vats gentleman of i and make them limits of 5001. a yea S log Fund was a bad net V Idicule. There would be and if this country had with France or any she may better go to the a organised army sr achy( i • they than her treasury it was the source and fa tion before the House, foe the reduction of tax !,• House for bringing for • g in truth be was rot a ` should be also inquired With respect to the re be the best to take of ; its merit. II is was time., and in all e un and in his intercourse them complain of this It phased upoc him. I be used for agricultural of salt was a mistake, d t, oo ild be ulten wi iepeal 420.403/. wtte le Fretich tilts; this re would be the cause of i peal these was lost a su was 900,100 ~ Lad wou t. was also the in (WV VI. I ' . estimate dat 20,0091. On ~. be applied to therepeal .7 tit octet yto ell chums i . • and would relieve the vexanc.us of all. He i ..' • taken off: Those sb mantlecturtd axicles • Annette-8 as those eche p.• ranee when he was i Member for Abingdon, ' am the reason or tl.e a 1 1 4 1 't p -costly as b fore, it sold fur thirty or tl • in n money, it wool * - and if that was taken as a kind of sinking • or t it discharge of the of the pinn. lie 'hoop ' should be paid at the sr plan which the Hight I from which he would n: • of the coon ry would b dated, the three per co security of .he public c they all had in view, tl mately obtained. Lord ALTHORP e Mr. It'. SIII 11'11 ag 'Pam kit, that the l SW had Olen into di rate of interest on the troney-iyarket, if we v not help considering *I furtive : that Goveronn per cent., whilst a m bad ace.unted for that the expenditure was gri thereto e to be made ui There was no .ax in th• tillable circum tenets a duties on salt, he ages this tax, without its ai co lx ors. If th a wet Us.bt not oche wise. duty thin to coat nue 1 cause it p events he a of a great number of i veyors and mansion. the rem al cet• the Wait Lord MILTON rei f. of the e °only might e Sinking Fut d. Tie I • tive of a f te • people—i fiord Milton as a MI W I C Fund w ml t not b f his Hon. Friend (the ' would rot rather lend co awry which bad no iwith a scrp!us ever so red sem thing unit Woe the puTcs • of int Was not b cause it opt !firmed tle Bilking Pm, that to create taxed. Ttere sas a I th y ode of the Satin it aas sin pay a promis w iya of reducing the IS lumina' deht itself ; i w rich the d bt prae , c tit w the' be is done Ur dt 'Cain re would be i et of tl e people. As I r. tr the *simple had a r 1/4. Hr m all not at preset the Cl a icellor of the I egoedi n to reduce ; I barn • o much mut so I which he sue m•ited to He d:d not agree wilt i of the unimportance c existed, perhaps with t • of which would give go With respect to the 1 upm—that on wale, b fished of its being the times were to be rem