The British Press; or, Morning Literary Advertiser. — London, England, 1826-03-11 00:00:00

use lire there were not amore :..telllgent yet of men than the Ili& Honourable Gentleman and his Colleagues, and he was oar* that the) valid not be cordial 10 the -measure, and he trusted ghat when the Hight Honourable Gentleman canal down on Mon. day be would say, that with respect to the dead weight, after 182 H, be would Fret it on the sinking Fund, for the utatement of the .Sir king Fund being at 5,000.100111. was a most dietraceful measure, and he trusted that the Right Honourable Gentleman would abandon IL The Honourable Gentleman concluded by moving doe following Resolutions:- - "' That it appears 'by returns to the House, that on the eth of • January 11126. the tunount of Exchequer bills outstanding and no pout was 37 ,502,0171. 9e. 7d.; that on or about the 20th of Decens. Mir they were at a discount of Res.; and that it therefore became Illetsgai to raise the interest previously granted on them, in order to prevent their being paid into the F.:chequer so revenue, or a pert of them toeing demanded in cash. And that. notwith. star:ding this advarrx of the rate of interest on Exchequer bills, k became neeessary to relieve the market by reducing the quantity an sale, which was effected by means of a large portion of *on being übsorbed in purchases made by the Bank, which broaght them to about par at the end of the month. " That on the 14th of February they were again at m abut 21s. pee cent. discount, when the Bank came once more in the market, 'sod brougfit them to par. •' That the Bank, Iron various circumstances, might not have bark able thus to relieve the market withoct endangering its credit • yet, had not relief been allindeil, bills paid in as revenue cnieht have left the Exchequer without any means of paying the d.valenda, provided the Bank could out advance the whole amount of them. " That the Bank. in order to pay the January dividends, having.' &beady advanced 5,548,0171.95. 7d.„ it is highly improbable that it i 'well at such a moment make a further advance of 3,1211,109/. (the additional aunt necessary). without placing itself in a most hazard oes situation; awl it APTtelfl, therefore, that although the prempr 'tidier in the purchase of Exchequer bills given by the Bank did at the moment avert these calamitousainsequences, still the danger of 'baring such a large unfunded del* becomes strikingly obvious, by. the Bank being obliged, a few days since. to conic into the market s second time to prey emcee further depretiatMn of them. " That notwithstanding the low rate of Interest which has been In Exchequer bills, it has been both inexpedient and dangerous to bare so large an lrawitint of debt unfunded ; not only for the reaeono -Nosed in the foregoing resolution, but because It might have been funded on most advantageous terms, and at a saving of some mil -gone to the (tenthly, whilst by leaving it'unfunded until a period pbUtitial diff.cirey arrives, it cannot fail seriously to affect public .wells, and in impisir the energies of the country ; and that it ap tfaefs thereforeto this House, that it is highly expedient to tedium the unfunded debt within more reasonable limits. •• That although, by a vote of this house, live millions were de eared neceesary as a sinking fund to uphold public credit by dim'. nuhing the national debt, yet in the course of a very few days after that declaration. the house came to a deteemination of granting an vicouity of 2,1100,0901. for .15 yeses, thereby increasing the public debt many millions (by return so the House, !Batch 1826, .74.834,0i11.) and at the -lame time violating the very principle which it had declared to be the may one by which public credit Would be supported. • That part of the said annuity, amounting to 505,740/.. far lerty-fout Own, was sold to the Bank of Engrand for 13.089,424 L, 'payable by instalments, the last of which falls due in July, 1828. and put, amounting to 2,2142011/., still remains unsold, to the seulue of nearly 40,8110,1100/.; and that under present circumstances it will be inexpedient to sell the remaining part of the said annuity, and that it wth be expedient to repeal so much of the Act granting tee said annuity as relates to the part tumid. and to charge the amount necessary to defray the naval and military pensions from Jaiy, 18211, on the ( amsolidated or Sinking Fund. That the capital of the fended •unredeemed debt of the Coked liingdem stood in the fiosece etcounts on the Sth January, 1411;,, at 781,123,2221. 15s. nth. whereas the real capital debt of the tenantry approaches to nearly 909 millions, inasmuch as the capital M the terminable annuities is not included in the above sum." On the question being put, fir. BERRIES rose. lie said that the speech of the lion. teaulernan might be considered under two divislena, in one of which he had taken a general view of the centime of Government with respect to the management of the unfunded debt ; in the other ire bad considered the funded debt, and had also recommended iiite funding, or otherwise getting rid of. the dead-weight annuities • a future period. Ile (11r. Herries) thought he could show that et was not desirable to make any alteration in the management of the public debts. But betore he proceeded he would make some preliminary observations. Ile would advert to some arguments which appeared to to the favourite one. la the Hon. Gentleman's •speech. the llon.*Gentlenian had frequently accused Government with want of' acenracy, care, and even of fidelity. in the exemitton of the public accounts; but he was prepared to show the contrary, and would venture to assert, still further, that he never heard such tionfirsion as prevailed in Pie speech and in the papers of use Honourable Gentleman. The Honourable Gentleman had called on the Ministers for a more perfect account of the funded • debt, and he had directed that it should be surunied up for each aeries of yeses, and he had also required that the total value of a • .ong annuity of 2.1100,0001. should be added. Now that appeared • him (Mr. !ferries) the most erroneous and confused of all tend. °ale anungemenrs. The public debt between the yeses 1819 and Isllll continued precisely the same, it was evident, as far as the an. nutty went. instead of presendng that uniform increase while the Hen. Gentleman had assumed. But independently of his objec. nuns to this mode of exhibiting the accounts of the public debt, lie would note:twelve anything more confused than the Him. Gentle- men's manner o' viewing the dead-weight annuities. Was it not 'the grossest confusion to say that each payment of a terminable • annuity was an increase of the debt? The lion. Gentleman had intend fault with Government for not stating the value of the an. 'Putties, but that was maths usual method in public accounts; the practice was to give the nominal capital. It would lead to die greatest error and confusion if the public accounts were given partly in valued annuities sad partly in nominal capital, as was ne. eassarily the case with the funds. The Hon. Gentleman the Mein. her for Abingdon seemed fuhy persuaded that the unfunded debt was still increasing, and he blamed Ouvernment for not reducing H. In order to refute that accusation, he would call the attention of the House to the history of the unfunded debt during the last G years. In the year 1819, the Bullion Committee had recommended to bovernment the netts:tine of the unfunded debt to the amount of tun ; and he would show that Government had not mend, cotiplied with this vermaimetillation, but had eves gone further, tor , they had diachaied no less than thirteen millions within the same time ; but it was necessary to carry in introit that the unfunded debt consisted of two pate, cf which the one was provided for, the other • was not ; and he supposed that the censures passed on the Impru. deem of Government applied only to the unprovided debt, since no particular we was necessary for the reduction of the other. lie would meet those censures, therefore, by a neerente to facts. To the unfunded debt, from the period before alluded to—.lBlle up to ' the present time, there had been oo additions ; no Exchequer hills Lad bee.) sold to the public ; but that debt, on the contrary, had twee in a elate of gradual reduction since that period ; the un- r aided debt, unprovided for, being, for die moat part, due on Exchequer bills, amounted in 1819 to 19,480,00 W. sad now in It% it was reduced to 0,139.0001. The first and principal reduction took piece in the three years following 1019, during which time it was reduced ten millions, and in the three years fol lowing it was reduced three millions inure, making in all thirteen millions. The Honourable Gentleman had charged Government wall ' , cal want of attention to that most important subject. He could seeno way of reducing the unfunded debt, except either by funding_ Exchequer bills, or raising money in the market to ;say them off. The question was then whether, during that period of years, It would have been prudent or wise to fund Exchequer bills at tit rate at which the stock stood, or to raise money in the market to pay them off, in preference to pursuing those rue/mires which his P.ighsConouraifie Friend the Chancellor of the Exchequer had adopted ? Those measures were the reduction of taxes for the re. lief of the subject, the taking of ditties so as to cot off the profits of the illicit trader, and the general extension of commerce. It cad* not have escaped the attention of his Right Honourable Friend, that it would have been a great advantage to have less an.. fanged debt, but in order to effect that reduction he must have se. +enticed his own measures. In all Mahal, affairs we coated have only choice of difficultiee, and his Right Honourable Friend had preferred the relief of the echject and the extension of trade a. productive of greater advantagem; but the prudence of funding leeebequer bills during that per kA was extremely liquestioirible. What, in fact, were the circumstances in the state to the country which could have reNinirnendecl such a measure? Was there any thing is the state of the unfunded debt which indicated a want of meth ? On the. contrary, there never was keown a period when Exchequer bills bore a higher premium, a circumstance which would Crave reneered it difficult to reduce that amount; but since the period alluded to no Exchequer bills had been istued for the purpose of raising money es an extraordinary means. but only to replite former bills. 'lt was not therefore to be imputed to im prudence or want of care that the unfunded debt had mot been re. duced • but if it had contributed to the pressure cn the Bank dining the late revulsion, he was sure no one would charge .51i. Munn with want of foresigle., because they had not descried at a distance all the circomstanees Of so extraordinary a obis. He was of opinion, aherefore, that the Ooternment would have acted • unwisely if, instead of reducing the taxes, they had funded Exehequer bids at a time when the state of the market would have matte such a transaction disadvantageous to the public. To prove this, he would state the expense which would have been thrown on the country. if, Instead of continuing the Exchequer bills, Minister, had thought fit to fund them. The present un funded outstanding debt was in all 30,500,000 e ; in 1819 it was 44 millions. lie would suppose, then, fee the sake of argument, that the whole outstanding debt had been funded in 1818 at 80; as the funds then stool that transaction would have been attended with a lota to the public of 5,042,0061. in 1819. when the funds were lower, At would have not, 5,145,0001.; in 1820, at 117, it would have east :052.01)(11. ; in 1321. at 72. it would have cow 4.134.0001. ; in Ilta. at 72. it would have cost 2.812.0001. ; in 1823, at 72. it would have cost 2%469,000f. ; in 1824. at 72. it would have cost 1,117.0041 L; in 1824,, at 72, it would have cost 500,0001. more. This might be called an exaggerated east', because he had supposed the whole d e b t f en d e d at once; he had made that *opposition for the sake of rsegutnent ; but, however modified in degree, it must be admitted that the funding of Exchequ er bills would have caused an expense to the countr4 ; lie was Featly to admit that the pecuniary saving 011gbt not to taken into consideration if the other measure. were recommended by any urgent political reasons, but when hit saw that allthrese argument' were to favour of Ministers, be could nut help oomluding that it would not have been either wise or econo mical to reduce the unfunded debt any further than had been done. With respect to the amount of deficiency hills, which the lion. Gent. had interwoven with other mailers in his speech, it had never, for the host 7 or 11 years, exceeded the amuunt of public money in the hands of the Bank. Phis balance of public money was usually five, six, or seven millions, while the amount of delicienc) bills seldom exceeded two or three millions ; and considering the nature of the debt, he suss sure an occasional excess in its amount did not deserve any censure. But why did gentlemen impute to Govern ment so much blame for overloading the circulation with the un funded debt, and producing distress ? This was an unfair argu ment, and inexcusable when so many public documents were on the table to elucidate the truth. If Gentlemen would look at the amount of Exchequer - bills in the Bank in November last, and also 'of deficiency bale, they would fi nd that the total amount did not exceed the balance in favour of the puttee. The greatest amount of advance, made by the Bank to Government was fifteen mil lions, and not twenty-four millions, as had been stated ; and from that sum was to be deducted nine millions of public money in the hands or the Bank. It was not just to conclude that the Bank was embarrassed by Its dealings with Government. Ile had never asked his Hon. Friend behind him (Mr. Femme that question, because he was sure it could only be answered in the negative ; when the greatest prevailed, and when it was necessary for the Batik to come forward, it was not found that those alleged emit ments pre vented that body from extending accommodation to all who were entitled to it, and lie (Mt. Herries) took that opportunity of stat ing, that from all the communications he had keit with the Beek, he had derived the conviction that they were in all their dealings actuated solely by considerations of public utiltty, regardless of all private accommodation or emolument. But the Hon. Gentleman was in the habit of running races wt h the Chancellor of the Ex chequer, and he then wished the Hum& to agree to resolutions re. Icing to financial arrangements within these days of the financial statement. Thamourse would be exceedingly inconvenient ; nor would the House deal fairly with his Right lion. Friend it they tutored those resolutions. With respect to the retrospect which the Honourable Gentleman had taken of the financial conduct of Mit isles, he (Mr. Herries) had endeavoured to show that Govern. nieti: were neither negligent nor unwise, and he should there fore oppose those resolutions which tefiected a censure oo their measures. Mr. RARING amid that he agreed with his lion. Friend as to the impropriety of entering into that discussion then. Ho was at a Inns to.know what Government intended to do with the unfunded debt, whether they intended to diminish or to increase it; but lie was still sure that it was wrong to enter into the question on Fri. day, when the Chancellor of the Exchequer was to make his state- IDOOt on the Monday following. With respect to the unfunded debt et appealed too little or too great, according as particular tie ' eemstraces would allow it to subsist widiout deranging the cur. ' rency. 'Hie lion. Friend and he did not differ, in a general view, with respect to the conduct of Government ; but he thought that I Government ought to have reduced all dome debts which they were liable to be called on t t pay in money ; for iteitance, a debt of 14 or 15 millions due by them to the Hank, indeed all their debts to the Bank, were of that nature; those debts, lie thought, they ought to have discharged when stock was high, instead of assign. ' ing mock at 93 or 95 in lieu of all claims they were liable to be called on to pay in m'iney ; the inconvenience arising from this neglect would be rode Oar!, felt when the period arrived for the renewal of the Bank charter, because then it became a positive obligation on the country either to renew the charter or to liqui date those debts. lie thought also that Government ought to have funded a portion of the unfundets debt. They might have lost something by the transude:l—they might have had to pay some additional interest, but that would not have overbalanced the advantage of funding when stock was at 93: at all events part of the unfunded debt, snit the debt which Government was liable to pay On emnadd, ought to have been got rid of. It would have put Ilie country in a sound state, anti set the currency on a proper foot ing, which ought to be the principal objects of a financial Minister; that would hate been better than saving one or two millions in in terest. The sound mete of the country ought to be the first object, and dotnestic economy the second. l'hien he had taken the liberty, on a former occasion, of speaking of the choke of the Bank, he had called the attention of the House to the embarrassments which their dealing* with Government occasioned to that body. He had re ferred' to the ceinmercial dimmest' of former periods, 1793 and 1797, and showed the danger and excess which were likely to atterd on the issue of deficiency bills ; the greatest difference of opinion between his Honourable Friend and himself was with respect to these deficiency bills. The Bank ought to be governed in its deal. inge by the same practical pr.:deuce which regulated the conduct of private individuals, and ought not to invest their property in capital which was not easily realised ; but by their dealtngs with Govern ment they were 'frequently forced halo that predicament, and made advances on security which, was not convertible. Nor could he Lind any circumstances which seemed to palliate the misconduct of Government in screwing up. as it were, the affairs of the Bank. and forcing that body to tun into danger. Hie Honourable Friend had forgotten that the Bank was ready to come forward to lend Its •aid in the general dietresaebut that it was at the same time screw. Int; up its own resources ire order to support the circulation. All that he (31r. Baring) assereed was incontrovertible; it was written in figures, and placed beyond dispute. About April and Slay last dm •iverage amount of the Bank Issues was twenty-one millinne e which ran down to lee end of August. Shortly after the commercial difF.coilties began to make their appearance, the ex changes became unfavourable, and the Bank was obliged to reduce its issue, to seventeen nellionsenur hundred thousand pounds. Was it not evident that the Bank tr: eseed on the trading activity and in dustry of the country in endeatturing torelieve themselves from this 'Doke ?.The result of this contraction of their issues was **intolerable that their detetenined at every rink to have a change, and accord. ingly tarried their issues teethe enormous extent of twenty-six mil. lions. This was nothing lest' than sporting with the property of the country. Such enormous traraitions in the course of a few weeks could not fall to be productive of evil consequences. The Bank's Issues were the barometer by which the property of the country eru adjusted, and it would E. utterly impossible:for him to represent in light colours such palpable misconduct. (Hear, hear.) If the Bank was not to beraddled with the odium of these trans. actin" anti if Goternment wished also to stand acquitted, still he must say that between Clem, at all events, must the blame be di. sided. There had been no symptom of distress until the Bank commenced belling Exchequer bills. it had been said that they bought and sold Exchequer bills continually, but such was not the fact. Ben hippened that they never did sell Exchequer, bills until the period to which he had alluded. The custom of the flank was to stamp all such Exchequer hills as they had purchased, and never to reassue them ; consequently, when it was known that the Bank had entered the market fee the purpose of selling Exchequer bills, an impression was immediately crated that s miething was wrong. It was true the amount might :lace been inentsiderable, but the Bank could not sell Exchequer bills, nor could they sell off any portion of the dead weight without producing alarm and difficulty throughout the country. (Hear.) The advance on the part of the Bank hati been eight millions, but if this system of advances was suffered to continue they would run up to thirteen millions. Prices at present stood much as they were when that negotiation wan en tered into; so that it would of course be a :miner of Indifference to the Bank if that sum was to be confined to its present amount, chands al its being so would be the means of taking off their a po:tion of Bank Stock which it w mid be inconvenient for them to sell ; because, if the Bark sole mirk it was paid for in their own notes, and the effect was different from sales between pri vate individuals; in the latter case the notes circulating front one person to another; whereas, in the former cam there was so much money cancelled, and consequently more distress mum be produced than where such sales took place under any other circumstances. If the Husk was to advance five millions more to Goieenment an in. cumbrance would be thereby created which there would be great difficulty to get rid of. (Hear, hear.) With respect to military pensions he could rot help expressing his surprise at the manner in which they had increased. It had some years back been stated that there would in that department be no further increase ; and tables of calculations had been entered into to slew teat within a given time they waled be got rid of altogoher. ( Heir, hear.) Yet what was the feet ? Why, so far fr im getting rid of them they had increased, and that to no inconsiderable extent. (Hear, hear.) lie was sorry to have trespassed so long upon the serration of the House, and should not have done so hid it not been fur some ob. servatiens which tell front an lion. Gentleman opposite (Mr. Bee tles.) As it was not his wish to promote spy discussion upon topics which might come before the Hoese more regularly or Mon- 1 day evening, be would conclude without any further observations. The CHANCELLOR of the EKCHIeqUER said that-after what had been seabed by his Honourable Friend near him (Mr. Berrien) lie would not trouble the House with any very extended observations. Indeed it would be unnecessary to do so, as on Monday night the subject would be discussed with greater ad. advantage, and of course with greater propriety titan could attend a debate at the present time. The Honourable Sleinber for Abingdon (Mr. Maberly) wished to know the amount of the unfunded debt of the country in the year 182 . 6, under such circum stances as could not fail to lead to seek utter confusion as would poule even the acute observation of the Hon. Member himself. Without entering Into a long argument upon the subject, he would just make one or two remarks as to whist Government had done with the unfunded debt, in order to show that they had not been guilty of the roes neglect imputed to them by die Hon. Member tor Abingdon, In doing so he did not feel that he was called upon to go back to those years antecedent to me own accession to office, nor would he argue whether Exchequer bills ought or ought not to have been funded prior to that time. It might or it might not have been proper to do so, but that which he moult to show was that great etittrot had been made to reduce the unfuteled debt. In the yez , 1816, which was the first year of peace, the country did labour under the satire necessity as previously, and consequently the Government turned its attention to relieve it of a portion of its burdens. In January, 1816, the RIIIOUIIt of the unfunded debt was sixty-one millions. In January, 11136, it amounted to only thiny-one millions; so that it appeared there had been a reduction of very nearly one-hair, which was a prime forie proof that Go. vernenent had not been inattentive, as had been alleged by the Hon. Gentleman. (Hear.) MTh respect to the last three yeses. during which he (the Chancellor of the Exchequer) had himself been concerned in the finauctel arrangements of the country, he must declare that in his opinion the Honourable Member had not fairly represented the case to the House. The lion. Gentleman complained that in the year ine:s Government had not funded Exchequer bills ; but the Honourable Gentleman forgot that the value of the funds in that year was n o t so great as in the year sub sequent. In that year the funds never came near lie—they eerie(' from 72 to 74, the latter being the value in April 1823. Under such circurnstanees surely netlike; could have been more impolitic, nothing more rash, than for him to have come down to the Hotter and advised the funding of Exchequer B neat such a perish. (Hear.) Had he possessed the hardihood to hate done so, he would venture to assert that the Hon. Member would have been more loud and mere vehement in his condemnation of such conduct than lie bad now shown himself, because that tine of conduct had not been adopted. (Chemise In the year 1824 the Hon. Gentleman Rommel that nothing had been done. This he (the Chancellor of the Exchequer) denied. The Fact was, that when the unfunded THE BRITISH PRESS. --- . debt was at a high premium Exchequer bills were not easily so be bought up. There was more difficulty In the opera:ion that, the lion. Gentleman seemed to imagine. tinder such circumstances no person was willing to fund, and it would not be dented that it steroid be very bad economy to do so. (Hear, hear.) Indeed he felt assure) that if he had done so he would have been more severely, and certainly mote justly lashed for doing so titan lie had been for pursuing a contrary course ( Heta. hear, hear). In the ' , car 11124 it would have been grossly inconsiment to have turtles! Ex chequer bills at the very time they •vere reducing the Four per Cents. The latter measure might have bees imprudent or unwise, but surely nothing enald be more inconsistent than to adopt a mea sure winch would have the effect of lowering 'hone fonds, the ele vation of which was ahsoluteiy necessary to effect the object which Government had in view of reducing the Four per Cents. Not withstanding this, however. something had been done in the way of funding Exchequer bills. Owing to the improvement In 1823 such a reduction had been in the deficiencies as brought them to a very small sum indeed. The nature of those deficiency bills required some explanation, which he would give in a few words. A portico of the expenditure of the country was paid quarterly. The Inte rest on the debt WAS so paid, as was also the civil hat, and other matters unnecessary to enumerate, all of which were char ged to the Consolidated Fund, which was composed of the taxes o f the court. try. Those inlet were paid into the Exchequer every day. and ex ceeded in a considerable ratio the quarterly charges made upon I them. The greater portion of those charges would not access until the end of the quartet, and the sums paid daily in the shape of taxes lay In the hands of the Bank, to their interest and profit. It wax deemed advisable, however, that the public should have the advantage of these sums of money, and in exact proportion as those balances accrued, the amount of dividends then accruing was di minished in consequence of en arrangement which had been en tered into. The balances which remained in the Exchequer wine advanced to the Bank for the purchase of Exchequer bills, which sometimes led to a deficiency at the close of the quarter. From this circumstance arose those bills, which were denominated de • isiencies. Il'hen the revenue came In rapidly, of coarse there was no occasion for those bills. Money came in so fast in the year to which he had alluded, that in the year following (1824) they had been enabled to diminish the uncomic(' debt by means of the growing produce of the coonolidated fund. It was his intention to imply four millions to the diminution of the floating debt, and the, Hon. Member would doubtless recollect that lie had approved of that measure when he had But propelled it. In January he lied appropriated one million 1/0 that pitypose, In March he had mini lady appropriated smother.. and Lt Jul a third. In the year 1825 three millions had been paid to the public for Exchequer bills, so that that debt had been reileced six millions siuce the month of October. 11123. Vile he thought was a sufficient proof 'lint his Majesty's Ministers had not been so Inattentive as had been charged by the lion. Gentleman (Hear, hear). T'ae him was, that in January last the defickmey bills would have amounted to scarcely anything if it had not been for those three millions which had been paid for Exchequer bells. He trusted he had clearly shown that the lion. Gentleman was not warranted in the impute does which lie had thrown nut. He might have been disposed to have gone farther, but that he would nit anticipate that which he had to state on Monday next : still he could not resume his seat without remarking, that if indeed the finances of the country had been mismanaged, the lion. Member might have pursued a more open course titan that which be had adopted. If that whiclrthe Honourable Member had stated was well. found eel, it was evident that he (the Chancellor of the Exchequer) was not qualified for the situation which he held. (Hear, hear.) lie' could assure the Hon. Member diet he had no such vehement anxiety for holding office as he might suppose. (Hear, hear, hear.) He thought he was not hinny dealt with by the Hon. Gnitiernan when he brought forward such a charge as a mere amendment—a charge which involved a direct censure upon himself and upon his colleagues (Hear, hear, hear.) Ile regretted that he should have taken such a roundabout method of arraigning any portion of his conduct. He should be extremely sorry it the House were to de cide upon such a question upon a mere point of form ; be would much rather that it should form its judgment upon the merits of those transactions; and If the lion. Gentleman could prove his charges, he would for hit own part submit with all proper humility to the opinion of the House. (Loud cheers.) Ale. HOME said that he hail Leen in expectation that the Right Hon. Gentleman who had just set down would have proved the in correetnem of the statement of his Honourable Friend (Mr. Ma berly), but lie had not done so. The Huh. Member fur Abingdon wished to ascertain the exact value of the debts, annuities, and other public securities, on the let of January, 1819, and their value also on the f•li of January. 1826, in order to draw a fair comparison, as any ore might do in his own immediate con- ' cerns, in order to know if he stood better with the world as he advanced in years. If he Cdr. Hornet() wed a number ofaiebts, and any friend of his wished to pay them off, surely there could ' be no fallacy in his requesting that a calculation might be made of their total value, in order that he might be enabled to liquidate them. He would suppose that he had formed a sinking fund in 1019, for the payment of bit debts, find having gone on till 1826, still finding himself h e aded withlannuities and bond debts, surely there' cmid bn no fallacy in wishing to see if he was not less in debt in the latter year than in the former. If in the course of those years he ' had borrowed an additional sum of money, of course that should I be taken into the acet.unt ; and if, fur instance the debt of twenty thousand pounds of 1819 should have Increased to twenty- I two thounatai poends, sure it was only natural that lie should inquire how that came past, nor could he conceive bow 1 such an attempt would lead to confusion. This was the object of his lion. Friend as regarded the finances of the country, end for his own part he only regretted that he had not carried his motion as far back as the year 11.117, when the Exchequer of England and Ireland had first become united. By the returns of the accountant general, it arpeared that the total value of every incunubrance which Great Britain had to discharge was, in the year 1819, no less than 032,136,44 n/. the interest of which amounted to 249,67,3001. Now what he meant to show was, that no less than nineteen mil lions el surplus taxation hail been swallowed up. lei order to do so he would not burthen the House with the calculations for each year, but would state to them at once the calculations for January 1828. By the returns of the azcoimtant•general it appeared that the present value of the incumbrancen of the country was 803.7832821. bahtngan increase of 61,646.8361. The interest had increased horn 23,176,01t0L to 31,398,0110/. If therefore the debts of the country be greater than they were in 1819, what, he desired to know, had become of the surplus revenue of the coun try, and tie money which had been borrowed ? It was impossible to ascertain anything with satisfaction from the manner i'l which the accounts were at present carried on. In the year 1819 the' taxes had been increased to the amount of three millions, for • the purpose of increasing the sinking fund, at which period it was calculated that in ten years, by proper management, it would amount to seventy millions. Instead of this happy consummation, however, it turned out that every operation only ' tended to plunge the country deeper in its embarras.tmento. In 1822 the Bank of England advanced a loan of thirteen millions' to Government, fur which they received three per cent. stock, which, being then only at 73, it followed that a serious loss I accrued to Government. The Commissioners fur the Manage ment of the Sinking Fund subsequently paid 951. for every 11101., for which 1001. the country , bad received only 731. • Here was a tremendous loss-_a lost which called loudly upon the House to' insist upon having a simple• and precise method of supplying the accounts of the finances Of the country. In order to show the , pre posterous state of the present acunonts submitted to the Hotline, he would quote the amount of the taxation of Great Britain during ' the last eight years. In the year 1313 the amount of taxation was 57 millions, the expenditure of that year amounted to AB millions, leaving a balance against the country of one million. In the year • 1819 the amount of taxation WIN 59 millions , time expenditure 574 millions, leaving a batence in favour of the country of 14 millions. In 1320 there was a balance in favour of the country of 2 millions. He would not take up the time of the House by going through every year, it being sufficient for his put pose to state that the entire surplus in favour of the country for the eight years amounted to 19 millions. Thesurplus capital could of course be the only uvailablesinking fund, and yet the Commissioners for the sinking turd had bought and sold to an enormous amou n t beyundthat sum, as 'tight be seen by the paper which he held in his hand. In 1817 their transactions amounted to 14.6011.030/.; 11118 to 15,. 1,11011/. ; 1819 to 16,090.0011/.; 18211 to 17,090.110 U; hal 0 .11„0:19/. ; 1822 to 18,000.0001. ; 1823 t i to 7,000.001,/.; 1t724 o 10„0014. Thus It appeared that they' had bought and sold to tliesmount of 115 millions, while they had never more than nineteen millions real surplus taxation. In calculating the surplus taxation at nineteen millions he excluded two items. One was the Austrian re-payment of NO 8011/. and the other a payment of 2,9011,009/. from the East India Company. This statement he thought Cully supported that which his lion. Friend had endeavoured to impress upon the House. Ile thought he had completely made out his case. He wished to make a few observations as to the mismansgement of the unfunded debt, and he . could not help declaring the regret he felt at th e emnettion winch existed between the Government and the Bank of England. IViiiie viewing the edicts of paper litotes upon the country, he was of opinion that they should not keep out of view the issue of Exchequer bills. He knifed to call the attention of the House to the year 1111 1 , at which pnriud the outstanding Ex. chequer bills amounted to 41) millions. him the year 11118 there had been an issue of li ininlione of Exchequer bills additionally, mak ing in all in, the year no Ina am 61 millions of Exchequer bills outstanding, thereby deluging the country with that description of paper. In the year 1819 they were reduced to 48 'Mittens includ ing the deficiencies, no that a large portion had been paid Or by borrowing; but this continual and great variation in the isnueof those Exchequer bills, tended amazingly to the enentiragement of gambling. Since the year 1819 Exchequer bills had materially decreased in quantity. The Right Honourable Gentleman had asked why hit Honourable, Friend (Mr. Maberly) had not cons. plßined that no petition of'Exchequer Bill. had been funded in 1825. to which lie would reply that lie had in fad pressed hint to do s.t in that very year. 'l' he CH iNCELLOR of' the EXCHEQUER said across the table that that was in 1823. Alt, He E said that hi; Hen. Friend had not alluded at all to the year 11;23. For his own part, so far from objecting to their being funded in the year 1t123, he had said, and doubtless the Right Honourable Oentlenian would recollect the circumstance, that the money market was so chocked up with Exchequer bills, that upon the first an7ry con being fired against this country by any of the Continental pores, the a hole fabric must go to pieces. The fats expressed last year by his lion. Friend the 3leinbtr far Abingdon and by himself had bean fully realised. leer the Mi nisters be prepared for war, in case it should be necessary, without having recourse to ruinous loans. On the grounds which he had tasted. he thought the Member for Abinvion had dune extremely tight in bringing this subject before the House in the manner he hod dote. It would havebeen better, perhaps, if his Ho:mutable Friend had brought forward a xpecitic motion containing a charge ugsitist 31it.istent. That is *lief he (Mr. flume) would have dime under similar circumstances ; but . at all events the Hon. Member for Abingdon hid done himself great credit, and Ind done the country great benefit, by exposing the niismanagernent which ex. hated, and the great loss that would accrue to the country from such a system. He should therefore support his motion, anti vote with him if he called for a division. _ Mr. Al ABERLY replied. His main object was to explain the dtWerence between the amount of the debt in 1819 sod 1812; in this he had succeeded. He was not, therefore, disposed to press the resolutions. EVACUATION OF SPAIN. The amendmellt being withdrawn , the original question was about to be pu t, when _ _ Sir It. W I LS' tN rose. He said he was anxious to put a ques tion to the Hight lion, the Secretary for Foreign Affairs, upon subject which, in his opinion, nearly concerned the honour and se curity of this coontry. In answer to a similar question to that which he was now about to put, the Hight lion. Gent. had last year stated that the French army would have evacuated the fort. teases of Spain before the kingdom of Naples should have been evacuated by the Austrian troop.. The Spanish forttew.es were still In possession of the French troops, however, and as the delay of this promised measure of reformation was in opposition to all the principles of good faith, and was, in fact, a breach of the law of nations, lie begged to inquire from the Hight Hon. Secretary whether any thing definite had been settled as to the period when the (brume' of Spain should be evacuated by the French, and in particular the port anti tortress of Cadiz. Mr. Secretary CA NNINII said he had no objection to put the Right lion. Gentleman in possession of all the iaformation he had on the subject of the occupation of the Spanish fortresses by the troops of France. It was impossible, however, to follow the order of the questions put by the lion. Gentleman, who had contrived to introduce arguments of great political importance, which this was not the time to enter upon. This much, however, he might lay, that the Hon. Gentleman could not be more anxious for the evacuation of the Spanish fortresses by the. French troops than was the Government of France. As to the period fixed for the evacuation, he was not enabled to state it precisely. lie knew that this consummation had been delayed and prevented In conse. (mime of some miserable paltry attacks made on the French gar risons. Theie attacks were as loose and es feeble in execution, as they were mischievous in their results. But from all that had come to his knowledge, he would repeat. that he was completely convinced, as an individual, and as a Minister, that the French o,evernment wished the French troops nut of ;.ipato as anxiously as the . Hon. Gentleman, or any other individual could. Mena) The original question was then agreed to. COM M I TTEE OF SUFFIX. The House then resolved itself into a Committee of Rap*. After a few prefatory observations, Mr. HER It lES proposed that a sum not exceeding 420,0001. be granted to defray the ar my extraortlinarier for the year. Mr. HUME objected to some of the items. He complained that the estimate for Sierra Leone was extravagant. A war was carry. it.g on there, no one knew wherefore. That colony was en immense expense to the country. It cost a great deal of money and many lives, and lie thought Ministers should consider well before they resolved to burthen this country with taxes for the support of such a colony. Ile hoped that upon mature reflection his Majesty's Mi nisters would think better of it, and not permit 27,04)0!. w be ex pended on the building of barracks in this colony ; and also money spent on the building of churches and other establishments. as if this colony was to be placed on the same footing of permanency as if it was a part of Ireland. The establishment in Ileligoland too scented monstrously expensive. Ile did not know why Colonel Heave's name was introduced into this estimate; there was also a sum paid to Major Ekeralcy which he could not understand, and on which he was anxious for some information. There was one other item in this account to which he wished particularly to call attention ; it was the charge of 11,04 k)!. for the transport of specie, being the aggregate paid to the commanding officers of his Ma jesty's ships for that service. This was a charge made by the offi cers of our navy, which he did not find was allowed in any other country. In this particular account he observed one item which appeared quite enormous. It was the sum of 1,1371. paid to Capt. C. Hope, for taking charge of a quantity of silver to !relent'. Th's sum of 1,1371. was paid as a kind of per ceatage on 131,000/. carries.' in his Majesty's shipltrisk to Ireland. In his (Mr. Hume's) opinion. the Commanders of the King's ship, were bound to take charge of coin when necessary ; and at all events he could not help thinking, that 1,1371. was too great a remuneration fur the trouble of tilting a sum of money so short a voyage as to Ireland. He did not think it was at all necessary to bribe the Captains of English met.of-war by these allowances, to do what was only their duty. He understood the money might have been carried half the way, to the sea coast, in waggons, at a very trifling expense, at half the expense which the country paid to its own officers for taking money in the country's own ships. Ile could not con. elude these observations without remarking, that on the whole the estimate which lie held in his hand was the most satisfactory he had ever seen in that House: there were in it fewer items requiring explanation. Thos notch he felt bound to state, though he thought the items to which he had alluded did require some ob servations. _ _ Mr. IiERRIES felt happy to afford the lion. Member for Montrose all the information in his power to give. The sumo put down to the officers whose name* were mentioned by M. Hume referred to a past periOd, and were in fact arrears of salary. There were other names entered in this estimate, which if known soon enough would have been entered in the army emigrates, and pro. posed by the lion. Gentleman at the head of that depirtment. With respect to the charge made for the conveyance of specie, it formed a part of the remuneration which was always bestowed on officers engaged In that service. It was not intended so mush as a remuneration for trouble as for risk. There sometimes occurred • deficiency, and the officer was then obliged to make It up.' In a late case there was a deficiency of no less a suns than 0001. for which It was impossible to account. The service therefore was not one with out risk, and the per tentage was given rather as a payment for insurance than a reward for the performance of a duty. TRAFFIC OF SLAVES. Sir R. WILSON sald that as Sierra Leone bad been referred tn, he hoped he might be permitted to call the attention of the Right Honourable Ozotleman opposite, to a subject in which the in. terests of humanity sere deeply concerned. Ile alluded to the traffic in slays carried on between the coast of Africa and the Brazils. By treaty this traffic was to cease in four years ; but he understood that there was no regulation as to the number of slaves put on board vessels ; and he was assured by gentlemen who had seen those ships, that a more disgusting and horrible sight could not be than they presented. The merchants were only anxious to fill their vessels, without any regard to the lives or health of the un. fortunate persons on board. He merely wished to direct the atten tion of the Hight Honourable Gentleman opposite to the subject, in order that some regulation might be made that would insure a greater degree of comfort to the slaves during their Passage. COMMISSARIAT DEPARTMENT. Mr. II ERRIES moved that a sum not exceeding 390,765/. bq granted fur defraying the expenses of the Commissariat De. pertinent. _ _ _ 31r. 111.'31 E said that this estimate had Increased since last year. In fact we had now come back to the scale of 111'22 with the army and all ether accounts. We had to pay ali the annuities to which the country wan then liable; and if a vacancy occurred, it was tilled by a new appointment, contrary to an express pledge made on the subj,ct. We were now worse i4l than ever as to ex. penset. There were no less than fifty persons to keep the Com missariat accounts. In Sierra Leone and Senegambia, there were six CJlntaissaries to keep the accounts of about 1,000 men. There was a superabundance of these Officer, all through the colonies. Such establishments were suflicient to ruin any country. In Ireland there war a corps of waggoners, which he understood were of no use whatever ? lie should wait to learn something upon this point before he proceeded further. Mr. HERMES said tine difference of amount between the estimate of thin year and the last, arose from a difference in the price of provisions. There was a considerable rise in the prices of bread, meat, anti forage towards the close of last year, and the estimate in consequence was deficient. The estimate for this year exceeded the last in proportion, as the deficiency last year exceeded the estimate. An to the supposed superabundance of the Commis. asriat Stall; he had some personal experience, and could assure the House that no reduction could take place consistent with the pub. lie service. The Treasury were so scrupulous tut thil head that they had made a reduction, which they found to be toogreat. The demands from the different corps made it necessary to make some increase, and this accounted for the increase pointed out by the Hon. Member for Montrose. In Canada there were out stations where money and provisions were to be taken rare * and if the lion. Gent. thought this servlce could be as well performed by the army as by responsible officers, he was greatly mistaken. The inevase of commisaioners in the Affican colonies was to be ascribed to another cause, which it was melancholy to advert to. It was often found necessary to send out two officers to fill tiresome situa tion, aa it was well known, that when an officer ass sent to the Gold Coast, he war lost entirely, being scarcely able to reckon on his life for more than two months. SIERRA LEONE. Mr. C. H. HUTCHINSON thought it necessary to call the se- Hulas attention of the House to the state of shut colony, in come q tielice of what hail fallen from the Hon. Gent. who had joy , sat clown, and who had stated that it was necessary to send two officer* to till each department, as it was impossible to reckon upon the contitim ante of lite for a longer period than two months. Ile wan quite awareof the important benefit to he derived from the maintenance of colonies, but he thought it was infatuation for Ministers to retain a colony like this, the character of which was described by the Hon. Gent. (Mr. Henries.) This was not a question olopposition feeling. but of humanity; for Ministers should account to their country and their God, for the expense of money and the ruin of human lite which this colony called for. If this colony were absolutely neces sary, he would allow that it might be reasonable to maintain it at any expense, but there were abundance of colonies which lie thought winild suit all our purposes as well as Sierra Leone. He thought, before the Committee rose, some plelge should be given, that it wits meant to abandon this abominable colony; at least some reason should he given for retaining a colony so detriniental to human !lA, and an burdensome to the country. Mr. W. HORTON said that the lion. Gent. (Mr. Hutchinson) seemed to think this colony was pr served from the mere abstract love of colonies. No such thing. This country was bound by a solemn treaty to maintain that c o l on y i n or d er to f ac ili tate the abo lition of the Slave Trade. (Hear, hear.) There were at present 111,000 liberated slaves in the colony of Sierra Leime. He lamented the sacrifice of human life in that colony as much as any man could do. but he thought the abandonnient of that colony was a subject 'thick required serious deliberation. (Hear, hear.) A commission had been sent out to the cairns, by his Majesty's Government, and clip result of their inquiries would he laid before the House. Whatever was the mortality in that colony, he thought the house would agree with hint, that the sudden abuudonmeut of it was not compatible with the duties of Ministers. Before a few months had elapsed, ample lotorinatMn Its to the state of th e co l on , would he laid before the House, and it was then for the House to decals whether it should be r.u.i i n ell or abandoned. (Hear.) TIIE SLAVE TRADE. • Mr. BENETT said that hitherto there had been no oppart unit . for discussing the policy of r et a i n i ng Si erra L eone, and he le:, glad such an opportunity was at hand. in a financial point tf view this colony was a .gretit expense. There were two quest'upe connected with this subject. First, whether any cokmy-op t h e coast of Africa was necessary ? and, secondly, whether anothe r re ., lony could not be established not liable to the sante objeali etto There was another subject to Which he could not avoid autho r This colony, it was said, was maint a in e d a t an enormous expen,;* and with such a drain of human lite, for the purpose of faciih cin , the abolition of the slave tr a d e ; y et h e b e li eve d t h e slave trade is; going on with accumulated horrors. Ile understood that continue' representations were made by our Ambassador at Paris to the French Government, but that those representations were little e t . tended to. He hoped the Right lion. Secretary would condestantl to afford hint smhe information on this point. Ile as, a sinter, abolitionist. but, addressitqc himself to those particularly. Intevestrd in that question, he would ask whether such vast expeuses should be continued when there was no prospect of putting down the traffic ? Mr. Secretary CANNING said that all the Him. Geodeic :l had stated, as to the reluctance which foreign powers manifested to co-operate with us in putting down this traffic was generally true Up to a late period it was true of the French Government ; -b., lately that Government had shown a sincere desire to carry into et cci the professions and assurances which were so often given on rho :subject. They had given one test at least of their sincerity, ft e . petted informations had been given that ships were fittin g out o the port of Sentra, to be employed in the slave trade; at lee the information was brought home as to one vestal in that p ort which was shout to be engaged in that traffic, and this vessel woo seized by order of the French Government. This was the fo al instance that had occurred ; but the seizure of one of their am ships was certainly a inanifeiration of the sincerity Mahe heed Governmen' which induced him to hope for the hest result,, Ijp Majesty's Government hail been indefatigable in their attention t o this subject. They had with much difficulty obtained so codes from the Government in Spain to he sent nut to the (levgn or g Cuba. lie would only say obtained ; but if this order to th e Governor was carried into execution it would leave nothing to Is i a h as far as the Spanish Government was concerned. their, hear). Mr. HUME suggested to the House its paying attentiou to the statements of Sir G. Collier, who had depicted the'resl state of Sierra Leone. He bel eyed it would he found that the benevolent intentions of certain individuals, instead of having been productive of the results anticipated, hod met will a complete reverse. These measures hail certainly added very little to the civilizatio n o f i n, African. From the report of Major Laing it appeared that two years ago there WAS no tr a ce to b e f oun d o f an European hating K t his foot 20 miles inland. What would the House soy when they considered that the population of Sierra Leone amonnted to ore million eight hundred thousand, and yet that they could not rano sufficient colonial produce to support themselves, but actually imported ? Frain the same source it was ascertained also that they were in a state of the most complete ignorance. The House was not to be led away with the idea that they were improving the eon. dition of this colony. His oonvicilon was that they were materially adding to the amount of human misery : and he protested against Government laving out another pound in support of this place Mr. wiLmor HORTON thought the question was whether they could not, by some alteration in the system, make this celery profitable and worth preserviug ? lie thought it unwise to talk if abandoning it till this was ascertained. The law did not per m i t them at present to use coercion, by means of which he thought conaiderable advantage would be gained. Mr. SYKES lamented as much os the Hon. Member fir Cork the large expenditure there had been of human lice; but be would ask, were there no other Colonies in which there had been In equal sacrifice? Unless the /lon. Member was disposed to look ably to those Colonies kept up with a view to forwarding the nbolitioa of slavery, he would refer him to those kept up for the mune nance of slavery. in the West Indies the expenditure off human life bad been immenae. In 172fi, when large armaments , rere tent out, it was well known that in the course of one year half of them died. He did not, on that occasion, recollect any patticula :lamen tations; and he thought it unfair that the present instant shoeld have been particularly selected by the lion. Member. Mr. HUME said he observed there was I large want al corps attached to the commissariat of Ireland, and he wished to know why it was kept up ? Mr. HERRIES replied that it was pan of the Army E itimmee. The commissariat of Ireland had been di ff e r e n t from that 01 Eng. land. It was found to be necessary to convey meat ano other stores from one place and another to the commissariat. This vote wts then agreed to. On a vote of 98,278/. being proposed for the Colonies, Mr. HUME objected to the increase of salary of the H Dine Foreign Secretaries. Mr. W. HORTON said it had already been explained that there was a necessity for an increase of the establishment. Theft had been an additional number of clerks engaged, which at punted for the increase it the charges. air. HUME said the additional number of clerks VMS 'required in consequence of the numerous cumolaints of some or ;he ha vermin of the Colonies. The time of the offices was thus' taken up improperly. He thought; it would hod:seam SC when rich eon., plaints were received from slay to day, Ministers were to withdraw the Governors; for Ministers might be sure these complal, )ts would dot be continually made unless considerable oppreasions 'sera el. perienced. Mr. W. HORTON said there was nothing more easy ;hen for the Hon. Member for Montroae to make these sweeping charges. He agreed with him that the most popular mode, on such charges being made, would be to turn the Governors out r bear) g but he thought the better, the more just course was, not. to re: love any public functionary till inquiry was instituted. In teferenr ato the necessity for incretaing :he establishment, ler the liOUlte ree Ilect that there were thirty.four Colonies. Was not this calculated io crests inconvenience ? But he never heard the Hon. 3lember ente !into the principle of legislation ; he never met it in a statesman.] jke man. ner. In 18iki there were only fourteen folio of papers reign red ; but last year this had increased to 2,01.17 which involved an e: :penis of 4,000/. Mr. Hi'3ll: in reply to the assertion that he maa• Iwapht ehargea, woul d state that for the last five years he had be in odes. , younsig to get a reform of the colonial abuses. What he objectid to was, that the Government, instead of listening to the. charges made against the Governors. sided with them against the t olontsu. Mr. Secretary CANNING said, every reasonable complaint he was sure, on the general principle, ought en be attended and it appeared to him that the Hon. Member had not rebutted theatre. nation against him of having made sweeping charges when be stated that the thivertiment defended the Governors in t pposition to the colonists. 9,13001. was then agreed to, to make good certain defici facies ira the ileum Department. PENITENTIARY. On 20,000/. being moved torthe Milbank Penitentiary-. Mr. COMM/ RNE wished to knew the state of the het: Ith tithe inmates of this prison, having herd that they generally wore the aspect of ill-health. He had also heard that they were so ejected to more confinement than was necessary to their security. Mr. 110LFORD could remove the alarm of his Hon. Friend ; the prisoners were in a state of perfect health. and wore a very dif ferent street from that imagined. Out of 100 prisoners. not mere than live had been ill during 18 months; and two or tl , tee out of thesz were afflicted with disorders when they wet* admitted. Ai regarded their exclusion, he need only inform the House.tbat they were allowed to take exercise in the yard four times a day. Mr. COLIIORNE had heard that they were only allowed noodle twice a day, and only during one hour at each time. Ito feared this had - contributed to the disorders that were so prevalent dine some time back. Mr. HOLFO4II3 said the Hon. Member was right ass ID the Ts. gulation ; !but it had undergone alteration. There could ho ro doubt but that the diet was the original cause of the fate I dis"ttien which had affected the prison , and many were victims of the awe' gion. He should be glad if he could induce the Hon. Member to accompany him over the prison, so that he might satisfy himself a to its improved mate. Mr. 111131 E thought that the PUN of 5,300/. was ode mad* give to the officers of the Institution. 31r. HER 11 lES observed, that though the number of primes was small, it required almost the same amount as it the e.dablisb• talent were larger. There was the possibtlity teo, that in the course of next year the prison might become full The vote was then agreed to. A vote of lti,sMii., as retired allowances to peewit employed is public offices or departments in the public service, was 4 0 agreed to. On a vote of 15,1201., an relief to Toulonete and Ociwitim emigrants, Dutch Naval Officers, St. Do.ningo bufterm, Kr. beech moved, Sir J. NEWPORT made some objection, which we meld net hear. Mr. HUSKISSON said he believed it was almost provertibl that public annuit.ttits were long lived, hut these Geode:urn did go off by degrees. There were individuals who, for the par: they too . in the last war. were entitled to the gratitude of the country. was no more than justice to say that they hard earned w h a t the Haute might vote. It should be considered that acconlinste human nature, these Gentlemen could not last long, and the coo try would then he treed from its burden._Agreed to. VACCINE ESTABLISHMENT. The sum of 3,0001. fa the above establishment was then ms'ed• Mr. kIUMI was as Sinai/114 as any m 1 11 l to this imnituttua kept up ; but he thought the number of members of the board might be reduced to two or three individuals. Mr. Seereeary PEEL thought the opposition of the lion. Mem ber for Montrose to this vote rather ungrateful, since tie bad re' duced ,he number of physicians, whose salaries were 10t/L Per ai r' each, from eight to five ; and this had been done at the suggestlea of the lion. Member last yeii - r. fie thought eight were nut or' ears, but the institution could not do wi t h le ss than five. 1 1,111 institution was of great service to the public, and, w hen public pm judices were removed, would he of still greliter. Nothing bed e e l effectually tended to mitigate the severity of the small-p_os Si ciliation ; and the only way in which it cou ld h a v e suffere4 in re putation wan through ladies undertaking to vaccinate ther o . et , oftspNtt, It sionenines happened that they did not do it elle" then, as a matter of Course, it proved no pfereene"' Ile had been app'i,sl to by an estaLlisbitient in a crowiltd part ~ the town, which had taller into decay for the want of funds, ate he had thought it proper to increase the number of vaccinator, 0) answer the demands which had hitherto been supplied by this 7 . ! * luable iltetitutioa. The auto therefore saved ty the redacuL3