The British Press; or, Morning Literary Advertiser. — London, England, 1819-06-08 00:00:00

: 7 • 'w debt of England had increased within the period which he adverted from 413,000 900/. to nearly 7 , m,000.000/. and that of Ireland from about 1.4,(I40n,0001. to nearly 92,500,000/. By the con -ii.idrtiost a large portion of the expenditure to re. iy thia debt devolved Ppm! Eflientip Ti a 1 1 04 ?t-solution was in obedience to the view of tite Fusauce Cornmittre, tumpvir, that the supplies to iir• voted for the peeseut year may be stated at !u....,un.p00/. The fourth Kesolntims was, that the ',it-flog revenue applicable to the supplies cannot be il at more than 7,000,0001., leaving the suits of 13,3,50,000 r to be raised by loan or other extra teriturce. The Afth Resolution wits, that the sinking fund applicable to the reduction of the national debt in the present year may be esti mated at 15,3400,000/. exceeding the above sum tivcersrry to 1w raised for the service of the year by about 2,000,0001. only. The sixth Resolution w.or, t h at to provide for the exigencies of the pubic service, to make such progressive reduction of the natiosisl debt as may adequately support public credit, and to wtford to the country a prospect of future relief limn a part of its present hardens, it was obsoletely neceseary that there should be a clear surplus of the income of the country he.. yond the expenditure, of not less than 5,000,000 f.; and he called the attention of the Committee to the conclusion of tile sixth liesofiltinti, which wire, that with a $ iew to the at eri iiiii ent of this ettiportatit object, it was expedient now to increase the income of the counter, by the imposition of new titers. to the amount of 3.000,000/. tier annum. The first of the lieselutiuns to which lie would revert, was that which alluded to the repeal of the Property Tax. Hr slid not mean to arraign the deci.rion of the then Psrlisment, though it differed so mate rially from his own. lie hoped, however, that ilie Protest beneficial to the country at ; though ill his conscience us a man, a n d in the exer cise of his duty as a Minister, he had felt it would . have been better for the country to have adopted the measure which he at the tune recommended, with a view to its ultimate prosperity. Industry had since revived, and it was necessary to procure for the exigencies of the country a clear surplus of revenue, as compared with the amount of its ex penditure. What he was about to propose wrs, to place the revenue, as nearly as possible, in the state which it bore to the expenditure in ,he year lel6 ; to restore. in fact, the revenue to that footing on which it would have stood were the Properly Tax continued oil the modified plan he hail prep esed for two years after the period he alluded to. if the conti iiii once of that tax in its modified shape lied been allowed, the country would have avoided the debt to the Bank which it slow became tiecessnry to repay. The time had arrived 'elitism permanent system ut finance must he adopt e.l.-:--trinporary expedients, thunglt at fillies un it/foldable, nita.4 in the end be given up—(Hear, hear, from the Opposition Irenciseri—and when P.llll4lllelli had fixed the period ul return to the ancient standard of a metallic currency, it was full time that Ihr thoraces of the State should, as well its its current.), be lilted upon a permanent basis.— (Ilene, hear.)—The 6th Retention bad stated, that the a ntnunt of the sinking fund, as applica ble to the reduction of Ibis year's debt, exceeded the amount necessary fur the bYrtiov of this yeas by rihnitt 2,000,000/. only. The fourth anti eleventh Reports of die Co 000000 liters which sat on the public exprinlituie In the late year, had estimated the pnliliv income and expenditure as follow : the iacume of the year ea.liag the sth Jaautry. IC la, w.tt 551.300,000 711 P espeoJhas fur the slaw inrush' Ullll • 54;200,0111/ Learini, aft.r Ski clisianal 4.f some incident-if income and ixpenditme, a deficiency of nit- . . wards of 2,000,000 This arrear .7'1,1 matte g..... 1 in the taus‘e 4.f the seine ~..r. chi, fly by the p.i).in til .0f an arrear of 11.ir Tax..., •...1 i hi, fly h 3 the all•tit nt sun of • part of the sign:nth il nun i.t . ItillS. 'flee 111COVAC of the year ending sth January, ISO, was 11w rapt utirturc „ Making a deficit of The income of the year etidtog the hilt Jeattnry, 1614, um. r5.,0113,000 _ . he • aptudititer Makin; a am rprut of 1,681,000 The income o f the rear ending on the sth .In. - . _ ieuAry, 1019, rim 1:34,000,000 3 bc e•pentlilure Lea ttwsc • errphr• of i,960,000 Now, whether they provided within the year the expenditure, or consieered the necessity of putting the country in a situatiou to meet any future emergency, it was iinifostible, with such a surplus in the cue teat year, to hold out any d 111 l inithon of the :whim burdens, when it wet, coostelereel what was the amount of the public debt. to the first piece, if they coosidered the nature of the abhgei. tiou iiivoieed by the country to the public creditor, it was sinputtible they could limited any Nether without placing their nuances upon it footing stele and stable for every purpose. It never could hate tsetse in the contemplation of 11.1 r. Pitt to have looked upon loans as a permanent part of hip boon cial system, and therefore, though on the pretest occasion it became twcessairy, sitectteel as the tann ery was, to retort to .ircls a spleen of rsi•utg money, yet be (the Chancellor of the Eachrquee) lead no ,hesibitioniu declaring, that it was the indispeosal-cle deify of the *loupe to deliver the public front ►uch a system. If at the period of 17,92 a Finking fond of 1,000.00f.d. was deemed sof belted, and had been I dat the period winch tallow-et' to work to well fur the row tn., will.at reason teas there to rupvo,e• I oil when the existit. :4 turn, amounted to 6,000,000/. its operation would root be room' to act in a progiessive ratio in the Jr liIICIIOIi of the nut • I debt ? Ile looked forward in a let. years to it gradual augmentation of the +sok luig food to a sum of out lest than 8,c000;00/. rum which woulel aiiinant to sae per rent. (or pulite- Siting lours) OW Ilse whole lioreeleettled debt of the •topers. The benefits of ►uch it stoking food would then be poweifully felt, acting Ur rettral Willi towards the extinctiou of the public debt, by inhiraviiiig by lice oierratsois of compound 'lathiest, by reducing the finials at motorists hest suited for ,uch reduction. At such is meemeret 11. e politic might fairly look forward to WI efiectual re- ductimi of the hoidens of the couutry, great national improvements might be undertaken with viii it and vigour, and the property of the cutiiiiry improved to a degree :dhows the interests of every itdAr , i;ft , ... - V 0 w • braact 1 t L utj. Th r .imoitkao .object ! I of t o iovoo:;;Zatito to rotN.lot to be enabled to raise the surplus income of the country from 'the *etiolated 2,000,0001.t0 5,000,0001. The way in which lie proposed to mike this augments lion vis, by adding 3,000,000/. to the present re venue of the country. This he could only do by an imposition of 3,000,0001. of fresh taxes. The may vote for which he meant to take the sense of the House was.for the priswipte of his plan, namely, the impo- Pintas of 3,000,000/. by new taxes. Ile was aware that in the details of the porticithir taxes, when he came to discuss them in the Committee of Ways and Means there might be snore difference of °pi , and in the vote he meant this night to pro pose, he by no means wished to bind Hon. Mem bers to any thing beyond the poineiple of the wig- ment.itomo. He was really that the details should he considered as open for future discussion—it by no means followed that those who approved of the outlioe of his plan should also adopt all the parts of his taxation. Hr now Caine to the manlier in which he meant to apportion the amount of the 3,000,000/. of fresh taxation. Before, 'however, lie.entimerated the nixes, Le thought it right to state, that by the consolidation under one head of some of the assessed tsire,, as considerable savitig might be had in the sg p eor .e of collectino , " mid Managing—for instance, some of the particu lar taxes were collected utiler the two brads cf Customs nod Excise—by consoli dating such- taxes, where it could be effected with rrit injury to •the ieveline. hr thought a considera ble Gavin; might l,e cffected, amounting to perhaps mot less than 250,000/. The new tax he meant to propose, in the first ith,re, was, that the . , existing ditty of one 1 wilily per lb. oil the ilOpOrtsliOil of foreign wool, Should lie augmented to cirpenee per lb. this, whole it se cured au increase of revenue on the importation of fine wool into this country, ids° protected the home grower of coarse wool in the markets of this country from foreign competition.—(Hear.)—The produce of this tax, together with the saving in the consolidation of assessed taxes, would, by estimated, realize a sum exceeding 300,0004 So much for the head of Customs. In the Excise he meant to lay on additional taxes, as follows:-1st, Upon Malt. - but not in the same proportion Si the War Malt Tog. That had been repea.leil, the House would recollect, upon a variety of allegations. which hail at the time great weight. First, the relief which such a repeal would afford to the agricultural interests ; next to the working classes, the price of whose beverage it so enhanced ; mud, lastly, the injury the tax inflicted upon the revenue itself, by din l i AAA I.lllllg the coustatuption. Now every one of these allega tions had, in the result, beets proved to be un founded—the agricultural interests hail not beice fite.l by the repeal, the price to the poor was not adequately reduced —and the revenue had not pro filed by any increase of consumption. The repeal, therefore, had wholly failed of its. iuterided result. The number of bushels of malt on which duty wax charted the year preceding the abando n ment of the last tax was 26,0-20,000 bushels; the year after which, however, he knew was a very bad sea son, the number was little more than 17,000,000 bushels; and w the last year the number again rose to 26,000,000 and upwards. The sale therefore was not less on the fair age, when the tax re mained imposed. than when it was taken off—the anionait at each period remained alike, so far as the cousumption. The argument of the injury to the testator therefore wholly failed. The beer in deed fell n mere trifle just after the tax was with drawn, but the !Price was shortly after again rose, though no fresh duty was imposed upon the article. He meant now to proposer, that an additional duty of 1.. 111. a bushel be imposed upon malt. lo doing so, lie begged also to add, that this addi tional duty will not justify lily increase of the we aved !nice of the article, nor indeed justify a (-mai nuauce of even its present terice, to the consumer. —(11ror, hear, and laughter.)-11e would spew Ibis tie he the fact, by a reference to the very deci love evidence of so competent a judge upon this sub irCl, 111 , Nlr. Barclay—that very respectable gentle man, when examined last year before the Commit tee, on the proctor beer, bad stated, that the price of malt then (that was in May last year) was 81s. per quarter, and that hops were thee' from 111. In 1.51. per cat. Now the prier of malt, taken ut the highest rate, 'Nes othuot (sJs. a quarter, sod hops were 14.40.. per cwt. Mr. Barclay had stated to the C ttttttt litter last May, that the aggregate charge of brewing a quarter of malt was then Owlet 9/. 16;.84. It could not be now estimated at more them 6/. 17... 4.1. do that out of this 19s. 4.1. advantage, which the brewer had in the pike of Isis misiostaciore this year us compared with the last. be (die Chalice nor Of the Exclwrptei) only meant to take for the public revoke 9s. 41,, leaving still to the brewer the retindimig 30e. ':11 . 11e remaining articles to which lie would refer were snider the head of Excise, whew he thought, as lie had already said, a great iniprovenient •might be made. In many of those articles the worst sorts of adulteration were practised after the article w,,s removed from the King's storey, he meant u oder the Customs, nod there were no existing adept:tie 111e1111. of detecting the ituposniou ; not so in the Exclse, for there tlie offi cers watched the articles *III progress of coosurupt Mu, sod detected 111111 defeated impoaitions while taking stuck, and in a ninety of other ways. It would be therefore, its the cwisolidation„ to place eta.- tam articles °oder the head of collectiois, most likely to protect the public, and secure the cullec tiou of the revenue ; while at the same time the nieicha il t would be released from a variety of 10111111 required according to die present mode by both Boards fur the same article. The chief articles lie meant to tax were (Foreign Wool he had already mentioned, as well as Mail), 'Tobacco,CVie, and (.'ocoa, 'lca, Pepper, and Esglish Distilled Spirits. 1)ot tobacco lie meant to raise au additional duly 4500,0001. still leaving the article to be sold sit u cheaper rate-1/1 laugh)—crrtainly cheaper than at the ycir after the close of the American war. oii pepper he meant to raise an additional revenue of 30,000/. ; ou coffee and cocoa 130,0001.; , on tea (ivy raising the duty front 96 to 100 per cent.) 130,0001. ; mid he hoped, and believed, that is bile this advance would make 110 Iteterpitble in crease the valor of the article to the. consumer, it would enable the Goverionsesit to follow up the measures for the prevention of smuggling with such effect um would riot °illy aectire the legitimate produce of Vie revenue, but matt:ololy advance its mailb meant he esti posed On V on' •-• a ~.. Nk 11• Tobacco . lgoilon3ted 5.% v lug J Comoollelotion of she Cu.. None 250 I' 'Zak .. • • Coffee and Cocoa. To a Pepper . £3,190,nti0 1 Admitting for probable defalcations, lie thought himself entitled to assume. that the net produce of this augmented scale of toxistion would he proditc ; five to the extent of 3,000,0001. Fair the last three years, from the official situation which he filled, it had heels his lot to submit neve ! ral financial propositions founded upon expedients for the current expenses of the year ; but now that 1 the country was about to revert to a metallic cur reitcy, it Was tune to make the . state of the finances correspond with the politic.l satiation of the COll4l - ICI' ; It wax time to place them mom a fixed peace ' etaalslishissetit.—(Hear, hear.)—ln the present state of the world, it was to be hoped that the day of war was distant, but lie could hold oust no IMlllr tilatr prospect that a reduction of the existing peace establisliasent could he implicitly relied upon—that of course must depend oil political events which were not to be anticipated. Events may bring about reductions, but it was impossible that the military energies of this country should be suffered to decline, -or that maims, and of course a t.. tended with •expense, should not be resorted to for revisteg sin a steetly system the old con stitutional force of the militia of the country. That the prospects of the country would be advanced by the proposed 'llan he felt con vinced. Its effects would be to augment the sinking fund, to improve the general revetme, and the re duction of some of the funds. The addition of 3,000,000/. of taxes would enable the country to pro- ceed with this prospect—to set out eves. in the pre sent year. The proposed loan tins year would repay It part of the Batik advance, amounting to 5,000,000/. and an equal amount of the unfunded debt. They had, he repeated, the additioual prospect of a dimi nution of debt its each successive year. That in the present year there might be reason to suppose some defalcation in the revenue, he knew was is general opinion, but this he felt convinced would be (if at all) to an immaterial amount. Up to the quarter ending the sth April 1819, the produce of the revenue amounted to an increase of 1.30.000/. ' as compared with the preceding quarter—there bad been, lie knew, a diminution in comparison with the preceding quarter of about two per cent.— In some departments there was an augmentation, as in the Post-office, in comparison with the pre ceding quarters—there it amounted to an increase of 43,000/. There was a diminution in the stamps, and again an increase in other branches ; and there was every reu•on to hope that the main result of the current quarter would prove equally favourable as that of the preceding one, to chew the increased revenue of the country. The temporary pressure which the preparatory measures for the feauweption of cash payments may create, was not likely to be considerable—the unreal and unreasonable spine 'mono!' which had for a moment prevailed upon that point, was fast wearing away. His Majesty's Government were most fully sensible of the pain they had to endure in cot tt ttt g forward at this period to recommend a plan of additional taxation to the adoption of the country ; they felt how great their responsibility thereby became for the strict, judicious, and economical management thereol—( 9 laugh from the Opposition Benches.) Ile hoped that the majority of the House would see that his Majesty's Ministers had, in time course of the present Session sheven the strongest desire to econo , raise its every department. They were now ready to still further record that desire, by adding to the other Resolutions one expressive, in the fullest sense, of the necessity of inquiring into the management end application of all the departments of the rrve oue, and the placing them all upon a basis of the most rigid economy. He was ready to conclude with a Resolution to this effect—That the House confidently expect that the Government of the coun try will institute a minute and vigilant inquiry into the management of the Revenue, for the purpose of adopting the most effectual means of rendering it applicable to the public service to the ampleat man l ier. Ile thou concluded by movitig that his Resolutions be adopted. They were then read by Mr. Baoctien-..and about to he put seri/dins. whets— Mr. TIERNEY rose (several other Members rose at the same time, but Mr. Tierney was loudly called for). He said, that the last Resolution which had been proposed by the Right Iloti. Gentleman could not have been seriously niestit for the House; it was iso doubt intended as a ruse de gnerre ; though the proposition was no doubt singular, it was iii fact one of the most extraordinary propositions ever made by a Chancellor of the Exchequer; it was in fart desiring the House to instruct him to be etotioniical, and then, forsooth, he would take it into his head'to be economical. The Right Hon. Gentleman then proceeded to read seriatim the Resolutions submitted for the consi deration of the Committee. 'Die first and second were, he said, merely declaratory of a fact intro duced for 110 purpose that lie could nen conceive. The conclusion of the sixth was the one which really went to the point, for that boldly announced I the intention of impo•ing 3,000.000 L of new taxes. The Right Honotiroble Gentleman had talked of the pain he and his colleagues felt j at the imposition of new taxes ; but the only pain : which the country would feel would be—first, at i the unblushing nature of the proposition; and, secondly, at the unnecessary introdue tion of it. If lie (Mr. T.) could bring his mind to believe that I new taxes ought to be imposed to place the finances of the country upon any thing like a permanent basis, and that no other means remained for the accomplishment of this purpose, he should not flinch from Isis duty in proposing them; but at pre bent he saw HO such necessity. He objected, therefore, to the abstract proposition of pressing on the canonry its its present situation an additioual enamel burden of 3,000,000 L of taxes. His objection also went to the time and manner of doing this. At the outset he hod therefore. Ito hesitation in declaring his dissent fiTin the Right Honorable Gentleutats's pro. ' "'= l ; . The fifth Rerrelp ttne .. . 7.1 11,0 1111P"1. to lite the siotkiog fuloo4 wines ...l e !cower was origioolly ifitevided to he. rile inmost the operations latterly eolith* oa had laced the .inking fund, that no more re fof it but the name. 'Hie !louse twist be te. deal %swelled to hear the teal mate of the country, sifter the repeated stunning boasts of its flourishing condi( and greeruig prnsiterty by the Right Han. Geotleman—after the bright picitirese: and Anticipations 110 liequeitily indulged its from adhering to the system of NI r. Pitt—Haul mi., the Ilatterisog and overcharged lepietwittatton of the state of our reveione, mar commerce, and trade, by the Noble I.nrol (('astlereagh), early in the 5e.41.n., on the resiewul of the Fitonsoce Committer. What the') MAP the real state of tile country at the pie- Petit moment ? It was this: that our expenditure so far exceeded our income, that our weeds were so ',teasing, and our embarrassoneots, all proceed iug from a lung and wasteful run of extravagance, so great, that filiniaters found themselves driven to prolapse a direct breach of faith with the public creditor; fur that such a violation wee contented soolistantially in the Resolittimis of the Right Hon. Gektlritian, online,/ could shake his conviction of. The Right Hon. Gentleman professed to groutid his Resolutions on the expediency of resit gto the system of ?.Jr. Pitt—and said, that nothing but that would plaice Ike finoinces of the country on a sure foundation. tie, however, contended, that the intention of that Statesman, in proposing the Sonft• lug Fund Act, had not been strictly observed; that it load been earl d from in 1802, in 1806, and, above all, by the Right Hon. Gentleman himself, is the principle of the Resolutiotos he had carried in I 813, mod in reverting to his iulricsiestul compiieated statements at that time, the House would see how lie hail dwelt on the iecodrulable advantages whi h, as he then thought, would result from varying its original design and application. Ilis reasoning than was, that by allowing this fund to accumulate for a few years, according to the express directions of the Act, the effert would be so much to lower the rate of interest, as vitally to injure the country. Since that period a sum of 5,70E000/. had been taken trout it, for if that had not been the case, it would now amount to 21,000,000/. The propovi lion to that effect was made On the plea of saving the country from taxation to the same extent, and the House was assured by the Chancellor of the chequer, that if they assented to it, they would be actually filled with astonishment in a short time. at the vast advantages which would result. They did assent—the money was taken—all the promised ad s vantages were lost—and the result, as they How heard, was, that it was necessary to go back to the ancient system of Mr. Pitt. A further inroad was this year to be made on this fund—its real air - music was now hut two millions, and to int-lease it to lilt, three millions of new taxes were proposed. But lie did not see why tin odium was thus to he thrown on all the stock-holders of the country, by lay iitg on new taxes on an exhausted and impoverished na tiou—lor such, is hia view, was the natural coirie quence of the measure. A sinking fund of five millions was judged necessary to he kept up; to constitute lino!, three millions of additional taxis were necessary ; and what was that but saying, that to give An :winsome and security to the stock-holder, the nation at large was to be burdened with new taxes 2 He asserted. that such au advance was not worth such a price ; he said that even taking tie fund at five millions, it was only a farce—it was us nothing, after taking tiwny front it thirteen millions five hundred thousasod pounds— it was a mere debts ttttt t and there was really un cud of all practical security to the public creditor. The machinery of Mr. I'itt's plan was this. that the sinking fund was to he kept on such a fooling, that at all limes it would be capable of redeeming any debt then existing to the space of forty-five years. How faithfully this was acted on lam, would appear that the fund, with the addition of the revenue to be newly created, would nut extend beyond five millions, while the debt was about eight hundred. Besides, let the Mouse reflect that this was the fifth year of peace, and the duration for which peace could teasunably be calculated, and infer what was to be expected from starting at such u time with a melting fund of five millions.—( Dear./—lf any man had ever ridiculed and laughed at the Howe and the country, in seriously asserting that such a sinking fund afforded a rational prospect of liqui dating the national debt, and At the same time re lieving the burdens of the comitry, because lie knew himself bolding out such hopes, was a palpa ble delusion.—(Hear./—The Chancellor of the Exchequer certainly might sac, •• I cannot make it more—l can get no more ;" but that did ant make it less true that the pledge to tire creditor had been violated. When he said that, however, lie did not mean to argue that the Acts relative to the fund should now be strictly and literally observed. They bad indeed been slrerrly lu friuged upon to an ample extent, both by the Right Hon. Gentleman and Lord Sidtuoutle lie del nut mean to say, that iu the 'grant distressed state of the country, and during the difficulties which all classes of the community lied to struggle against, tliia fund should be scrupulously reserved for its proper destinittivm Parliainent hail a paramount duty to perfinin, in protecting their over-burdened constituents front new burdens and pressures; anal Ile was ready to acknowledge, that. in our present situation, a considerable Oft of the siiikiiig fund should be given up to meet the exi gencies of the country. Butt was it not a shati.e to hear aut.!' u propositimi, the neceb.ity of which, lie should always believe, bp, ;mg from the improvideut expenditure and headlong. career ttf the present mi l Mary, accompanied with the same empty boasts, '.llle vault proud vaunting'', which the House had Constantly heard, but never seen realited ?--( Hear.) The House might well say, when the Chancellor ~,O f the Exchequer required new taxes, „ What have .you done with the hundreds of millions you gut -already 2" But that was a circumstance the Right Hou. Gentleman kept out of view. There was sou acknowledgment of past errors—(Hear)—uo con. fee that the resources of the country had been lavishly and foulivhly applied—(Heorj—not a single 'expression of coiotrotinio. No—a repetition Of the saute vain promises stud assurances with which they hail been so frequeuily Noluvell and derived al ready, " indemnity for the past and security far the future," smell lie did mot know what beseles.-- Ilicar.l—" Only give us," said he, " floret mil ' bona of texts, and you . will find yourselves in 1 : the Most improving eircurnetances, end the greatest prosperity for enemy years 10 come. " ft! kill Milisevers had no r.eht to expose the stock-holders to the jealuitsy arid obloquy of the rest of the tintion, for the paltry security the new taxes woold confer oes them ; lie said that the rather, because he ituter that revels . was ard .beat the advantages the rtock.hololer would derive from the meditated alteration in doe eurrenc*. Us the valoe of the eileseleting tuethein vemil.l he !pitied, wh i t, they cor.tinned to receive t h e same nominal ant e l .,i o 4 interest, forgetting how much that thus of 1111 , conamtinity had suffered by the. contrary. °permits., d ur i og e the our. I n orde r matt' ei.i the ouse tien t fo r coosiderstiost. before they assented to the Rm. luiliosi. stating the necessity of a surplus of income over expenditure of live million., he should mov e the previous question as on amendment, both is that and the following Resolution. But that :eel him to the most important of all the Resolutiorh— the proposition lur increasing the income of the country, by the imposition of note+ to the amotost of 3,0110.000/. per annum. A gatitvt that he ha t I • ....If bound to raise his voice —Wear, he ar )._ f ur l ie caul,' tint conceive any country in a state which would not justify the eneposition en new tuxes. if this couutrytwas not.--( I fear, Arttr.)-.11. Right Hon. Gentleman awned to have tsVI, the intended restoration of is metalhekireirleba re ~, one gr o un d of this Resolution; but if thin riltutet stance was to be sutualueed into tier ergooteat, it seemed to hint (Mr. Tierney) to be natter a reason against the Resolution, because, as the value of our currency was to undergo an alteration, no our kiwi, urban three millions was.—( Hear..f—The very al. tension of the circulating ntedittut was a new tax, inasmuch as it disqualified people, to a certain ex tent, from paying the old lotto.. The nominal I amount of forgoer taxes was the tame, while the I riser found his nominal income diminished in cot.- Isequence of the augmented value of money. fle e was thus diiven either to file alternative of oavonli,, x I the payment of his taxes, or droving Ininself (Le comforts uteri enjoyments to which Ist bud been sc -1 rustomed. But the strongest objeefrose to it wou !,i lie inland in looking at the other circumstances of the country, The evidence given before the I Fissance Committees moved that there was Ca.. • greatest stagivaaioet in trade ever ki.owo, and nothing but distress its till the inantifectur, —( I fear, hear.,l Elie table war loaded a ith Pe titions from all rat, of the country, cnniplaniic; that the Petitioners were outside to pay tin.ir too-, to discharge their poor-rites—stating the d.!litaii ties of the ogriculturistr, the wretched an ••;..rviug condition of the manufacturers and artisin,—stat infmediately after %holsters answered to these it , presentatimes that they , were to be subj..cted to three millions of slew texts. —( Ileac, hear.)— Could any thing have a snore galling effect on the country. or afford a more etangerons bundle to tier disaffected, if any such sainted' The Vetintiocs complained that they could tint pay their taxes — flint they were nut able to live. The MO Hatt. Gentleman replied. "" I hove fuetud a remedy Vet a remedy lie had called it) for till yi'ur d,•,. tresses, and my remedy is the itapodition ar isew taxes.— ( Ilene, hear, aud such laughttr.l--I have taken off eighteen millions of taxes since the termination of the war, I tiled it injurious tse tine contit;y, and therefore return to some of them •to 1 bring back our former proienritly."- (Pads -(Posit of I laughter. I—Such a declityllti Ull (CM!tillued. Mr. j Tierney) was an insult on common *ewe and dor sufferings of the people. —( Ileur, heur.j —l-le al. lowed it was right to endeavour to reduce the linaoces of the country so ii more Meanly arriiiii 4 ement; but it was attempted in a manner calculated ta strike tiirmay and terror to tior heart of every trailer and manufacturer its the land— l earticulady afar they had read the Noble Lord's (Castlereagit's) flourish tog description of the circumstances mid resources of the country. Ile conscientiously said, he would rather have a sinking food of only two millions thou one of five on such terns.. There were but two ways of enlarging that fund—either by reform and retrenchment, or by tile imposition of new taxes— lee put that in the front of the battle winch the Right Hots. Gentleman hurl placed fast. Now, from what he had seen—from conversation with others—from the investigations ant! intioiries lee hod carried on at a former period of his life, when the state of his health permitted it better than it del now—it was his serious belief that a saving in tlo. peseta expenditure might be effected of one oni lion. The Right flout. Gentleman might rniii.• , lint it was rental kable that it 1 , 105 that inght lie lied, for the first time, discovered et raving was practicable in time collection of the revenue,—( Hear, hear.) — It was not to be forgotten that the Noble Lord (Custleieugli), in moving for the re-ippointintrat of the Finance Committee 10 the ,eresent Session, lied intimated that tthat was the last 3roi. it was to sit. Many subjects, latitvever, deooervo tog it: most se rinus consideration, .till rent,iiiied unexlnumil. Th e Right !Jim. Gentleman Oleo commented 0., the conduct of the Committer. %loco lie descr.lee t as merely the organs of Ministers. Re etteimadvert, .1 on the resistance given by Ministers to almost e V.'. J proposition fur retrenchment coming from I.i. • :e o f the f-louse. Ile thought th.: whsle uru)y v..ne to large—(Hear)—but allowed that reductionss• eirotiAi. had been made its the navy. He insisted that in tee Colooies great expenses might be saved, its the coffee.- thin of thus revenue and the consolidation of mike, No admittistration should be suffreed to reunite Is office which would take one penny from the ',topic more thou they repaid in real solid services. lie took the measure in question to be • otie of ti e strongest ever proposed —( Hear, hear, hear 1 and lie told she House that if they assented is It, they parted wi.ls every security for. eemecvm. Ile did not meant to crustier thrive whip recoa - mended the intended application of thirteen tit.- Innis of the sinking fund. but lie would ratio.; abolish it altogether theta augment it by isti i.ig 4i , • ~ew taxes. He thought the late war 'night have been carried on by on economical Henese of Com mons and Nlitsistry at half the expense inctvre:l by it. Thinking that savings to the extent of a ii,i... lion sterling tuight be 111dde in the public expend - tore, he could not coutiibute towartls•• ineavire *lnds would offend the whole cipuotrt. Ile cu.: i not agree to layin g on hew taxes it t! e preSto,t ~.)., )netot, mid ahuulel therefore move :11c previous th .0.-v -lion to the two last Resolutions. Lord Carrusaimsti said, it would ivot be ....- cessary for him to trouble the House' at t. e.e: length, because II;e teal question on whith It !II t t lin *mould. On bpirits distilled in Flreiuttt. Ito position. rant propose an asigosent;stser of 'duly which state of ettiritated would produce 640,0001. Ills pro-. what it i s.d plan of taxation wookl tar then us fultoers ed that Milt Wiwi's Spirit. 54)1 1• "4) ruined • Toluircie mood 4. ~;' I