The British Press; or, Morning Literary Advertiser. — London, England, 1819-05-19 00:00:00

\\ \\ I I 4 allpence, and farthings, and specifying their nominal " A statement of the market price of . Copper. nt the time wren each contract wee entered lain with Mr. Rutting." The accounts were severally ordered. BRITIsiI OFFICERS IN FOREIGN SERVICE. Lord MILTON moved for an account of the itamber of Aritish itegeera, employed, ender his Majesty's !screw, in the service of any foreign State, distinguishing their rank, and stating by whom they are respectively employed. — Ordered. STATE OF THE NATION. Mr. Tteawalr said, he rose, in pursuance of the orifice he had given, to °tit the &newton of the House to the State of the NitiOn—and, in doing tint-, he must throw himself on the indulgence of Gentlemen, since he feared he would he codtpelled to trespass, , for a considerable time , on their patience. He had, however, so often experienced their indulgence, that, he confidently hoped it would not he denied to him on the present neva sion.—/Heer.)—The beat retorts he could make fur their indulgent attention would he to consume as little of their time as possible. The proposition he was about to subroit for the adoption of the ,House was, " That the Mote should resolve use(/' into a Committee, to consider of the State of the Nation." If he were acting only as a party man— if he were not impelled by greater and snore ex tended views—by views of general utility—he would abstain from this motion altogether; and he knew that, in bringing it before the Homer, divested of party ipint, he gave up some adventagre. But he had at least this consolation, that he could hardly conceive how the party to which Gentlemen on his side of the . ,Hy‘ise wete opposed (for they, too, he supposed, must be considered a party) could stand in a situation less, to be envied than that in which the Right Hun. Membert who crowded the Trea- sury Bench, ,were placed at this moment.—/Hear, hear.)—He could not conceive any set of men, calling themselves Ministers, who, having been kicked end cuffed about as the Hon. Members in the Noble Lord's train had been, would have home it .with such exemplary patience.—/ Hear, heur.)—He thought an Administration more low ered in public estimation. more divested of public cotifitlence, never appeared within the walls of that Hosise ? —/Hear, hear.)--An Adminstration, more dead m every feeling that was usually sup. posed to govern men in high and honourable situa tions, he not only never lims , , but hardly ever heard of.—(fkar, hear.)—They seemed to he attached to only one principle—that of vigorously adhering to office—and there ended all the vigour of. their administretion. (Hear, hear.)—They bail proposed nothing to the House which was likely to be beneficial to the country. Some of their propositions were defeated—while others, pro. posed by Gentlemen on his side of the House, were triumphantly carried. The House would recollect what Nltundera said, when those rneasures were proposed. They declared, that, if they were car ried, the most ruinous consequences must follow. When his Hon. and Learned Friend (Sir James .Mackiiito.h) called for an inquiry into the Penal Laws, Ministers declared, that the whole system of criminal jurisprudence would be destroyed. But the ntetis?re was carried—and the Noble Lord and Isis worthy colleagues bore their defeat most pa tiently. Then came the motion 'dative to the Scotch 'Boroughs. A Learned Lord, whom he did not then see in his place, declared. most emphatieelly, that no man's property would be safe—that the system of government would be destroyed—that revolution would be as good its commenced, if that motion were agreed to. — ft war, however, carried, and the Administration appeared perfectly content. He could adduce some other instances of the same kind, bat he would only quote these to shew on what " 'vantage , ground" lie, and the Gentlemen who acted with him, stood, if party objects were all they had in view. Brit they had other duties to perform, far superior to those Of party—duties which they owed to their country, and which mutt be considered pa. commit to all others. it was that feeling which induced him to give Pp those advantegrs to which he had a dv e rted—wheli lea hire to piece himself its a situation of emberrassinent—in order that he might discharge, as he was then doing. a great and important duty to the empire.—(Hear, hear.)- 11 Ministers meant to govern a great country like this . , !sit ought to be governed, they would have acted in a way directly the reverse of that which they hid adopted—" hut," said Mr. Tierney, " if they will not take care of their di g nity, we must take care of ours." He called on the House to eimuinte the state of the country. If there were 'nut two parties in the House, that to which he be luttgia, and that to which he was opposed, the isour of the contest would not be doubtful. On one side there war nothing but an ardent seal; while, on the bther. the whole weight of official attachment was called into action. List be now sat in a House of Common' (mid he had tat in man)) to which there had been returned a larger portion of Gentlemen, whir were not attached to soy party, than he ever tecollected in any Orreading Podia mem—Gentlemen who voted fur the proposition *voted, without any reference to the person who wa. the niover—esho, as they might to do, looked to measures and not to * men ! He doped those mold nut be wanting to turn die balmier, at the end of the debate ' and, to tive him that sup port to which lie would be eutided, it he made out a lair ease. t was his intention to make out two propositions. The one was, that the state of public affairs was full of dillicnity, and danger, and alarm—end did, therefore, require. strung and vigorous domcils. In the iircond place, he would endeavour to prove, that it wits the duty of the House of C' Mons to interfere; and to reader itself non that ohich was a very Uousual thing, a Committee to inquire into the Slate of the Nation—not considering this as forward or officious iniefference on the part of die Huns,. but ai 611 C which was clearly called fur by •Ile eitioing mete of *Weirs. He did not usk Geo t lemeti to lead him their aid; to ettitiarrasii the sys tem, to &tip the energy, and to control the vigour of an elficient Administration—but, whets they could pot perceive that those in power had system, or on* , jy, or vigour, he implored them to interfere Ls . t is ft n a weak Administration and a tottering rowt tryis.-(Hear)—and to perform that great duty which :u holiest Methher of Parliament would Dever „mint frotii.—/Hea r.) the—Whichall the ever way they looked thrutyAliout Europe, y saw prism el notions eitgag ed in endsivonring to repair the 1 inroads male on their power daring the war, and to place their resource* on the best possible footing. He could say, without ,fear of co ntradiction, that their attention was chiefly turned to Anemia sub jeets—ohile the Government of this country, who had mere interest in making round floats. cial arrangements than any other body on the face of the earth, were the only men in Europe who had not yet devoted their attention to that most important object. The great object he had in view was undoubtedly limited to the proper arratigement of the finance of the country. He did not call on the House to ewe, lido any examination of foreign affairs, more than those foreign affairs Imre on the question of their financial arrangements.. The world was, at that moment, blessed be God for it ! ip a Mete of profound peace, which he hoped would be of long continuance !—/Hear, hear.) — But Europe, notwithstanding the exertions of the Noble Lord, and the other Ministers of the Allied Powers, was not in such a settled situation, that would jostify a man in looking forward with any certainty to a duration of the peace for many years. Indeed the entire state of Europe, as far as Great Britain was concerned, had been totally changed— whether for better or for worse lie could not say—. but it was now totally different, with respect to this country, from what it had formerly been. Hereto fore Etiglend had her alliance, with this or that Power. calculated to meet and overcome the inachi stations of those States that might threaten hostility. The country was now in a new situation—she was one of If ve 'Powers (and he did not state the fact as matter of censure) by whom the destiny of the Continent was to be settled. Whether - England had ally ally or not, particularly connected with herself, was more than he was exactly able to disco ver. Originally this alliance consisted of but four Powers, but the recent admission of France, as a party to the confederacy, increased the number to five. The four Powers to whom he had al luded thought it necessary to keep a large body of foreign troops in the interior of Prance, in order to preserve the tranquillity of that country, and to secure the reigning family on the throne. France conducted herself so much to the satisfaction of the other Powers, that, when the Treaty of Aix-la.Chspelle was in progrem, she was invited to join the confederacy, and made the fifth party to that alliance, in which England, he believed, had but one vote, and no more. This was a most un certain state of things. The parties were bound by professions, which he hoped would not be broken—and a holy alliance was formed, the osten sible objects of which he trusted would be as sa credly observed, as the confederacy had been piously entered into..--(Hear, soda laiegh.)—When the troops were withdrawn from the territory of France, and she was admitted to Mike her station as one of the five Allied Powers, the communication was made to the Duke de Richelieu, the Minister of France, who was very properly complimented on the talent* he had displayed in his high station, fur France was invited to become one of the Allied Powers on account of the pacific disposition which site displayed during his administration. Then, it should seem, that this country knew the course of policy which was intended to be pursued by that Power—a Power that mast certainly be considered one of the most important in the coalition. But that was nut the case. In one short ',moth after this trans action took place the Du ke de Richelieu was removed from office, and this country was left in total igno rance of the policy by which the councils of France were to be directed. He did not mean to provoke any hostile discussion relative to the conduct of the No ble Lord while he was engaged on the Continent, that was a subject which perhaps might hereafter be adverted to. What. he asked, was the object of the war ? Was it not to curb the power and ambition of France ? It ought be said, that it was merely intended to put down that revolutionary power which threatened the repose of the world. Still, however, it was embark. ed in to weaken her power and control her strength. What was France at the present day I Her commerce was reviving—her finances were arranged, in a great degree, by the assistance of this country--she had a free Constitution, and, in the name of humanity, he thanked God fur it ! she had a limited monarchy—and her people were now able to speak their sentiments through the me dium of their representatives. Those blessings had come on her suddenly—they had been hardly earn ed, by sacrifices, not only of blood, but of chs racter—sacritices that would require years of good conduct to atone for. ere she could lay claim to that estimation in which she was once held amongst the nations of Europe. She stood, however. iii more formidable situation than any mato could have coutemplated two years ago. He did tint say this with any feeling of hostility towards France. He hoped that those angry feelings which the triumphs of this country might hate excited in the minds of a proud and brave people, would be soothed and softened by kindness and conciliation, and that no thing hut an• honourable rivalry should, in future, exist between the two nations. Still, however, they ought not to forget that France was their rival, add might, at a future period, become their enemy.— They ought. therefore, to be prepared for any change that might take place—they ought to he ready for any alteration in the present state of Europe.-,. There was another Power to which it was necessary that he should call their particular attention—he memit America. America stood out of the 'sale of 1 the emigres*. 11'ith her this country had concluded • peace--and, with respect to her (although he meant not to cast too scrutiiiirisig an eye of jealousy tewardi her), they naght to be prepared for the *grit. Let the liaise recollect what had occurred Within the last two years. They had seen two British subjects executed by the order of an Americin Commander.--/1/ear.)--Many •rgu forint; hind been adduced on both sides—and it appeared that his Majesty's Government did nut wish to interfere. They tuight be right in acting thus--=but he was old enough to remember a period, when, if two British subjects had been executed by a foreign Suite, this Government would nut have felt quite so patiently as it did at present. He would pursue this subject no further—and, in noticing it. be did not mean to reflect on his Ma. jesty'a Ministers, for acting with prudence, which. under existing circumstances. certainly wb the hest manner in which they could discharge their duty to the country. He, however, wished to im press this t sentiment on the House. that a nation. DO( prepared to delend its rights, might not care. quently he subjected to setious humiliation. to the case to which he referred. the question was one of national honour—but then came a second, a question of territory, of which Congress could take no notice. If two German Princes ex change a few medals, dr. Noble Lord oppo site was sure to receive an express---such was the necessity of keeping up the strict balauct of power in Europe. But America, without any difficulty being started, took from another Power a possession which was as dangerous as possible to the interest of this country ; which, in fact, placed all their colonial returns in a state of very great jeopardy. There were some representations made on this subject, hut he believed with very little ef fect. He would not find fault with Ministers, if those representations were marked by an humble tone and temper—for, when a nation could do very little, it was extremely impolitic to pretend that she could perform a great deal. He stated these points, in order to chew, that they could not act, with impaired and circumscribed means, in the same decisive manner that a nation, with untouched re sources, was enabled to do. It was their duty to pre pare for every possible event, with reference to France and Americo, if danger were to be apprehended from no other quarter. He knew the line was very difficult to hr 'travels at which prudence ended and abject humilsition began—hut he knew there was a bee somewhere to be found, awl they ought to seek for, and abide by it. Their paramount duty was to satisfy all the world that their object was peace—beat they ought also to shew the world, that they spoke and acted from the love of peace, and not from the dread or inability of sustaining war.— /Hear, hear. )—Peace , connected with ally other terms, was only war postponed, under the worst circumstances. War must be the result at one period or oilier—and they well knew that defeat generally attended the party who entered the field with an impaired national character. Therefore, th►y ought to exert their best energies to sup. port the national honour.— Wear. hear.)—This could not be done by great military establishments— it could not be done by forming colleges for the education of their youth in military affairs—the national honour would he best supported by a well manned and invincible navy, joined to a well• • managed and flourishing exchequer. —(Shouts of " Hear.")—"Give me," said M►. Tierney, •s these two things, and I *tend on a rock from which the ' world cannot drive me !—/Hear, hear.)—Give me th.e navy and nourishing finances, and I will set the whole world at defiance !" (I fear, hear.) — If he had impressed on the House the necessity of an immediate arrangement of the affairs of the country, the next thing to which he would draw their attention, was the manner in which those affairs had, for some time, been conducted, and the situation in which they now stood. One great charge against Ministers was, that they had done nothing, from the day on which pyace was concluded, to.the present hour, for the internal improvement of the country.—(Hear.)—lt was, he believed, mowers. eery for him to dwell on the situation of their trade, because he had only to refer to the evidence given before the Bunk Committee, to phew that it Ives at a very low ebb. In every page of their Report they would find the testimony of the most intel ligent merchant's, proving, not that this or that branch of trade was unproductive, but that a total, a general stagnation of all trade prevailed at this moment.—(('ries of Hear. hear, hear.). — It had never, it seemed, occurred to Ministerte during all their diplomatic proceedings, to enter into commercial treaties. He knew of none, with the exception of one—that with America—a Treaty which had scattered the utmost dismay amongst the Newfoundland traders—and, to prevent them from becoming clamorous, bounties were given to them. to order that they should not suffer any loss. But how did this serve the country? The country really and substantially lost by the Treaty. He knew of no commercial treaty that had been entered into, which was likely to afford benefit to the em pire. One opening there was through which a cheering view of the future might be taken. It was the struggle of a breve people for their inde pendence.—(Hear, hear.) —As men, they could not view such a spectacle without exultation—and, if they considered it as merchants, it afforded a ' great opening for the extension of trade. Did Ministers take advantage of this fortunate circum stance? Not at all. For fear the country should have any success iu that quarter, a Bill had been introduced, and was then depending. which was to exasperate the only body of men from whom they could derive any hope.—(Hear, hear.) — At the very moment when their manufacturers were starving—when a veut was providentially opened for the sale of their goods—at that critical time they were told, that. in the view of his Majesty's Ministers, it ought not to be thrown open to them, but that the whole benefit should be transferred to the 'muds of others.—( Hear, hear.)—Ministers had, in fact, done worse then nothing: the only commercial treaty which they had formed was de trimental to the interests of the State—and they • had it now in contemplation to do that which would he most mischievous to the trade of the country.— That was not all : the Act they were about to press oil the House was degrading to the English cha racter—debasing and depressing those high and honourable feelings which were heretofore coiiii sired to be the prime movers of action iu a British Sessile !—(Hear, hear.) He came now to the finance of the country— which he would treat strictly and entirely us a geese tiou of finance. Here it was his intention to occupy but a short portion of their time. lii truth, he bad employed himself very much on the subject—but he found, that, if he went into all those details which he had himself investigated, it would require so great a length of iudulgence oi► the part of the House; and he was so little likely to make the sub ject clear in such an assembly, that he thought it better to give it up. He should therefore merely call the attention of the House to a few leading fatty, which would fully exploits his view of the question. The period he meant to select was from the sth of Jan. 1816, to the Sth of Jan. 1819. He would not interfere with the short interval of peace, before the return of Bonaparte—but he would con. fine himself to the time he had meiltioned, when the peace ass completely consolidated. That period would afford a fair 'ample of what the country was to expect from Ministers, on subject* of a financial I nature. On'the Sib of January, 1816, the total amount of the funded und unfunded debt. formed no less a *um than 860,000,00. With suds * debt as this stoning him in the face. one would have thought that any Minister, really anxious to discharge leis duty to the country, would have lost 110 time in coming to some arrangement, that would tumble I to cope with so formidable an ad ver•ary as a 60,009,000/. Ministers did make a pro position to the House, in the form of a suggestion, • to continue the Property Tax. They stated the ab -1 solute necessity which existed for its continuance for a certain lentil of time. It was on the succeed of this measure that they rested all their hopes. On that (occasion they seemed to have emirs their Room coal opinions decidedly. On the Property Tait be ing or not being renewed depended their future lone of conduct. The tax was throw., out by t h e House. ‘Vhat did Ministers do then ? He need not tell the House that they did not resign.—(Hear, hear.) — Did they propnee another plan in the place of that which had failed ? No such thing. Like angry boys, who would receive no boon, if that on which they had set their hearts were refused, they showed their chagrin, but they did nothing. They deter mined to have no plan at all ; and, from that hour to the present moment, he defied any man to whew him that they had made the slightest •pproxi ' motion towards *plan.- —(fienr.)..—Because the Property Tax was withheld, they were obstinately bent to do nothing—and most magn , ... i . nous' y deter mulct, for the remainder of their time (and he had no doubt that their prayers were earnestly of fered up that it might be a long one), to live on the bounty of the Bank, and. what was infinitely more important to them,.the Chapter of Arcidents ! —(Lamiglter.).--io that year they borrowed nine millions from the Bank, and postponed the pay went of three millions—at the same tunic the Act for restricting the Batik from making payment• in cash, was renewed for two years longer. They bor rowed nine millions, to be paid in ISIS, and kept up the Restriction Act till July, ism The fol lowing year, they were told by Ministers that every thing was in a most flourishing state. He remem bered hearing such speeches on that coccastoo, as filled him with astonishment. The stocks were to be at par—the five per cents. were to he pond off—in short, no country ever flourished more than Great Britain did in the speeches of the Gentle men opposite. The Right Honourable Gentleman (Mr. Vansittart) was accused as the sole author of these dulusions—but the Noble Lord and the other Members of Administration were equally respon sible for them—and it was not fair that the whole burden should be cast on the Chancellor of the Exchequer. In his opinion, Ministers themselves believed that every thing was flourishing to the greatest possible extent. They did, he was con viper& firmly believe, that the stocks would be at per. This idea they were taught to cherish by in dividuals connected with the City. When they talked of paying off the five per cents, he at once told them, that, if they carried such a plan into effect, they would be guilty of a gross fraud. When persons lent their money. opeculating on the flourishing state of a particular security. and the Government, by artificial means. which were in their power. ranted its value, in order to seize that opportunity to lower the interest, such a transaction could not be called an honest one. A number of persons did, he believed, sell out, fur fear the in terest would be lowered—hut the great ma's of persons with whom the Right Honourable Gen tleman was in constant communication, who saw how things were going on mote clearly than he did, remained as they were, add lost no thing. In 1817, there was a deficiency in the supplies of the year of 12,500,0001. in addi tion to the unfunded debt. They then came to last year, 1818. The House was told that the country was still flourishing ; the phantom of prosperity still danced before their eyes; they talked of paying IA- certain stocks—a doctrine which was to be found in the Report of the Finance Committee of the present year. It was there said, that the time wus not very far distant when a great saving might be effected for the country, by the difference between the interest paid on the debt, and that which might he charged hereafter. The Right Honourable Gentleman was obliged at this time to have recourse to another project. He created a quantity of 31 per cent. stock, by a transfer of 3 per cents. and the fund ing of Exchequer hills. The payment of the 9,000,0001. was then called for, but it was postponed for another year, and the Bank Restriction Act was contiuned till the sth of July, 1819. He, at that time, took the liberty of suggesting that an inquiry ought to be instituted into the aflame of the Bank. Nobody would, however, hear of a Committee of Iniaory into the affairs of that body—by which means one entire year was lost, which might have beets usefully employed in that investigation, which, at a later period, it was deemed advis aide to enter upon.—(Hear, hear.)—Here they were now, on this intricate and important question, having lost a year of preparation, for no reason whatever that lie could conceive, except that the motion for inquiry emanated from that side of the House instead of the other.—(Hear, hear.) — The Bank, however, were not pleased with the the Right Hon. Gentleman's plan—and he was obliged to alter the preamble of the Bill which he introduced with reference to the continuance of the restriction. The preamble, as it originally stood, he gravely declared. was placed in its situation through mistake. The new preamble set forth, " That unforeseen circumstances rendered the measure necessary." Now there were no unforeseen circumstances—there was no secret. The evi dence given before the Bank Committee. which was now public, shelved that the loans with France were known at the time, and the Bank • strongly remonstrated against the measure.-- In truth, the difficulty at that period, moose not from unforeseen circumstances, but room pursu ing a course which the Bank did not approve of. Thus ended the history of those three years. Could any thing be more contemptible ? Three years of profound peace had elapsed, and nothing more than what be stated had been done.—(Hear, hear, hear.)-.What was the result of the whole ? He found. on the 6th of January, 1819, the latest period to which he could bring the account, that the funded and unfunded debt amounts ed to 84.5,000,0001.—the amount having been on the Sth utJaamary. 1816, 859.000,0001. Then, in three years, the funded end ussfunded debt had been deerresed 14.000,000/. and no more. Here. however, they were to consider whether there lead not been d o i la m t i . n o u i t l io ti n ie in st t h i l ie of ase j e j t o s u o n f ry th i e 4l c 6 o : i i nz , was an excess of advance ninl arrears of property tax, amounting to ft ,460,000!. ve E ntl y iel e ii r il y t i f ir a ir t ot t im l i ir s ig tti i e that had been get rid of—and, to strike a fair hs. lance, oo 00 they ; ought to ihe i deduct iui,ro of their finances, in the course of three years-sl peace had been, under the direction of his Majesty'. Ministers, a decrease of debt to the amount of 5,460,000/. So that the debt ertu.illy stood t h 845,000,0001. without any prospect of its being materially diminished. In the Report of the Fa. notice Committee of the present year, they had t!. ertimate of the next, precisely in tile same way s . if they heard it from thy Noble Lord or the Right Hon. Gentleman himself. For it was necessary te be understood, that that which purported to he a Report of the Finance Committee, was, in fir the Report of the Chancellor of the Excheyel. Undoubtedly it came to the House throuth th e medium of one of its Members who was called dot Chairman of the Committee, but it was previG us e, put into his hoods by a person called the Chal 7 . cellor of the Exchequer, whose work it was, and whose opinions it contained.—(llear, !war.; From this Report it appeared that the surplus, ah lineable to the extinction of the debt this year swoon' not be le.. than 1,900,000/, which, tallow the rocks at 72, was .1041 to 2,750,00 q lit 1811, it was caleulated that the surplus would he %50n,000/, which, at tha before-mentioned rite, would be equal to 3.sso,oool.—making, iostock, the sum of 6,300.000/.—aml, ii they went vo to the extent of live years, they would find that they had got rid of 5,000,000/. of debt, and not one farthing more. He asked the Rune, then, was it not time for them sertuu•ly to interferk ?—(l.lear, hear.)—lf these facts were tree, had he not a right to cell on the House to say 1 ,, Ministers, 1 1 You shall not proceed in a spans ruinous to the country—it is time that some efficient measures should be adopted—awl you appear quite incapable of bringing forward suet, ineleoires as the situation of the country demands ?"—(//ear.)—Les riot the (louse take these facts as merely origiiiiitio4 with him. Let them examine the queatton, awl they would find that what he had stated was shot the country had to expect for the next too years. With a debt ut 830,000,000/. allowing for every de crease, they might be called on to face 'mother tsar. It might he proper to observe, that the Citioloh dated Fund was the source Irvin which the public creditor derived his dividend, and all that inergrot no it way applicable to the plyinent of los debt, That fund was, however, Ili arrest no le.or a sum then 3,300,000/. every quarter. If they :trilled to this the sum of 2,790,0011/, which we, taken train the Consolidated Fund on account of the dein due to the Bank. they would Mid a thfieit of GOIOO,OOO/. Were the House aware that the pays meat of the dividends, every quarter, depended on the good-will of the Bank ? If the Bei.k wen say, " We 101 not lend you the 6.0420,00 A in oo oy the dividends," the Right Ron. Gentleman could sr soon raise the dead as raise the necessary. (Ileor)—Whether he could or could not raise it, was at fiuing., he demanded, that in time of t om,. they should be placed in suck a .ituation ? Was it proper, that in each of the hour quarters el the year, the payment of the dividend, slue to the public creditor should he mach to depend on the will of the Bank of England ?—(Hear, esie.)— In the course of the last year, when 17,01 , 0,0904 were funded, and 3,000,000/. were other.. use intact!, it was worthy of remark that Ministers male eau provision for the interest of the debt they h a d eh, s incurred, which amounted to 1,600,000/. Noe, assuming that the loan olio. year would he about 21,000,000/. equal to 30,550,000/. in stock, at 72, the interest cud Sinking Fond would he 916,0001. making, with the interest of the sum before titers. tioned, a gross amount of 2 516,000/. to be provided for in this year. Thus, they were in the third year of peace, and yet they were called oil to provide interest for money borrowed in the second ye it after that event.—(Cries of Hear, hear.) — He understood it was intended to provide for this sum by taxes—that it was not to be taken nit of the Sinking Fund : if it were. there would be no surplus whatever. Now, if this sum were to he produced by taxes, it became a very serious mat ter indeed. He would now tell the Right H. Gentleman that he would not vote one single lay, to the value of a lialfpenity, in the presto Ser. sion, oldest the finances of the country were placed on a stable send tangible footing.—(//ear, hear.) — He would not agree in the system of Nliiwiiter-, which was to goad and blister the people with taxes from day to day. They abstained from telling the country what its reel situation was, and exerted all their efforts to holster up the 11)./ht Viribe sad impotent course of proceedings that ever was arloptrit by imbecility. He, under these eirctuttWattooa. would not vote for any taxes. He looped tt e House would stand by him, when he pursued this line of conduct—lie was sure that it would lii pleasing to the country—(//ear, hear, hear. If au intelligible statement were laid before t he House, pointing out and balancing the gains :01 losses of the country, there would he some resso for making sacrifices, but is hen Molesters tin heil their backs on the prosperity of the country—wli-ii they displayed no vigour—when they matolest:io no foresight—he would not support their call for taxes.—(Hear.)—Under this scrambling Ss sten:. no man knew what his property was. I II I 4 . 1 h) I I stocks were 63, in the year following 83, A tlittetritt'r of 10 per cent.—ut present they were 71. By tut-c. fluctuation. many made fortunes, but number:li we:e also ruined—and the utumit eticiniragruirot u • given to gamblers, speculators, and jobber*: It' state of uneeitainty might be altogether remedied, if Ministers; pleased to undertake the task. But it could nut be expected that they would. since ono., three years after peace, they had do ur naso.ut, iv nothing. Suppose any of those possible at I dents to happen to which he had averted in the early part of his speech—suppose ally jar to arise—suppose any hostile cooferleracy to be tomtit against this country—how could they lit out ins statement, if it were necessary, win) a debt of 830,000.0001. staring them in the face ? What would then be the 'atomism of the stock-holders? Surely it must be perilous i 0 the reirerue ! I)id Ministers imagine that foreign Powers did not krona' the situation of the country as well as they did themselves T They were perfectly acquainted !vial it—and he could not but coLsodts the proceedings