The Sun. — London, England, 1819-05-19 00:00:00

France, and n communication bad been male to her through the Duke of Richelieu, to invis: her to accede to the European league, much in con sideration of what she had d4 - me under his admi nistration, Oleic seemed to be sntne knowledge and sortie guarantee of what would be her poli tical conflict. But in a short month the Duke of Eichelieu had been' removed, and he feared that Fiance was now considered as having'dc parted from the principles which had procured her a place among the. five Allied Powers. Was it not the bhject of the late war to controul her power. and to prevent her from recovering- that influence which might enable her once more to shake the world? Bat what was the present si tuation of France? Her strength was recruited, her finances were arranged, - and chiefly too with aid derived from England. She possessed a free Constitution, under a. limited Monarchy, and might she long 'preserve it ! Anti her people could now speak through the medium of their .Repre , sentatives, These were great advantages, but earned by sacrifices of blood and character, which it would i.ake.many years to recover. She stood, however,'in a commanding situation, whiely could not have been anticipated two-yeats'sint!e. He did not say this thrOUgh‘ a feeling of jealousy against her. He sincerely hoped, on the con ' trary, that any irritation which our triumphs might have excited in a brave people, would be soothed down into a sentiment of fair rivalry. Bin it .was impossible' not to feel that if France was now our rival, she might one day become our enemy. It was therefore necessary that we should be prepared for the event. There was another Power, 'America, who stood out of the pale of the operations of the Congress, and with whom we . had concluded a ,separate treaty of 'peace.— With Out looking 'at the United States with an eye of jealousy, it became. us to be careful, and to prepare for the worst. Two British subjects had been executed by the Americans : he knew dim many arguments, whiCh he must own he consiz tiered well founded, had been adduced on this oc cation in favour -of the American Government. But he was old enough to remember the time when the exec-ution of two British subjects in any . country would nor have beeu borne with So much patience. He did not blame his Majesty's Mi nisters for having acted prudently ; and, in fact, on the score of prudence, they had seldom erred. He thought they had acted right in not pushing the matter too far. But they must re l . Collect, that any country which does . not seem prepared to defend. her rights,.will soon he exposed to greater insult. There was also a question of territory, which was of the greatest importance. At the Congress of -, Aix-la-Chapelle, two Mini- sters could not have exchanged medals without an express - being immediately dispatched to the Noble Lord, so important was it considered that there sliould,be a perfect balance between all the 'Allies. Bat the Americans were allowed to add to their territory a state which would subject our colonial empire in the West Indies to the greatest danger. He had no doubt some representation had been 'made by Government em the subject, and he helieVed - it was most moderate. In that Ministers hail not been wrong, for it was right for those who coat do hut little not to talk much. This, however, showed the different sitna- . 'tion in which we stood, with impaired, or with unimpaired resources. Our only security lay in being prepared. He knew that it was difficult to ascertain the point where prudence ended, and abject submiSsion began. But he knew such a point roust exist, and he trusted we should not be forced towards it; We •most convince the world that it we spoke of peace, it was from the love of pelUe, and not from inability to support Peace, - on such terms, would be war postponed to its most dangerous period. 'lle did not see the necessity of relying on a large military establish merit, on colleges - calculateil to give a mili tary education,, and inspire martial ,ardour. — All he Wanted was, a great and invincible Navy, and a well-furnished 'Exchequer. With these two, he should feel that he stood on a rock, which nothing, could remove. Let the douse , give him a Navy, and flourishing finances, and lie would set the whole world at defiance.- 7 -The next point to be considered was, the manner in which• our affairs had' been conducted, and the si tuation in which we siood. - From the first mo ment of peace, Ministers • had ceased to do any thing for the internal welfare of the country. To show the situation of trade, little more would be necessary than to refer to the evidence given be fore the Cominittee an the resumption of cash payments. - It might - not point out a decrease in particular branches, bat would prove a general and total stagnation. It had never occurred to Alinisters that it might be proper to do some ''thing in the shape 'of 'a commercial treaty, except in the case of America. And yet, by this very treaty, they had scattered more dismay among: the persons connected with the Newfoundland trade than any treaty had done before,. There was a 'cheering hope arising from the struggle of a brave people contending for , •national indepeo deuce. An opening seemed preparing for our trade in South America, but as if this were too favourable, a Bill 'novas now depending in the House, which Would exasperate those nations whom it would be our best' policy to conciliate, and would close that last and•lOnely hope. When our mauutacturers were starving at home, this wide issue for the sale of their goodS would thus be entirety cut - off by the impolicy'of the Govern ment, and we should throw the whole trade of Smith Anierica, if we could manage it, into the hands of other nations. Ministers had therefore dpite worse than nothing. They had deeply in jured our trade, and violated ail the feelings which'used to form the of the British cha racter. He would now Call the attention of the 'House very briefly to the financial situation of the country, from the.sth of January 1816, the firait year of peace after the return s ot Buonaparte, 'to the sthrof,januarY 1819. This period 'would tamd a fair sample of what !Idea ,be expected front his Majesty's Government on subjects of finance.. On the fith of Titulary 1816, the total of the - Nude(' and unfunded debt amounted to 860 Millions. - One might have thought that, with syeti,a mass before them, ‘Ministers would have nn time in making arrangements to rope with fiirmiltable an adversary, They had made a', weak attempt of this kind when they proposed ' to continue the Property Tax, for on that rested all their hopes of a remedy. The Property Tax wes rejected, as every Member of the House well keesv,,and.Mtoisters bad not resigned._ That was nor to be expected.—(Laughter.)-It-anight have been thought that they would have formed some other• Plan, but they gave up.the War 'Malt Duty, uliich had not been asked, and then re solved -to- have no--plan whatever—(itt-lighter) ; but to live their whole 611)e on the bounty of the.. Bad:, or what was still more agreeable to them; oti he CitopFeeof4ceidents.--s,(Laughter,.).—ln 1816 they had borrowed nine millions, .postponed 'the re,payment of three millions due to the Bank, and renewed theyestrictions On cash payments for two years. Thus ended the whole of the financial ope , rations of that year ! In' the next, the House heard the 'most flattering speeches and anticipa, tions of prosperity.' The Stocks were to he at par, and the 51ierCents. to be paid off. Nothing would equal the flourishing condition of the coun try. Ile did not wish to lay the blame of all those speeches on the Right Hon. Gentleman op posite (the Chancellor of the Exchequer). .The Noble Lord (Lord Castlereagh) was equally, re sponsible for them ; for the Chancellor of the- Exchequer only spoke what was the sense of the Cabinet. They really believed that the 5 per - Cents. were to be paid off ; and had that been effected, they would have committted a 'fraud. That year ten millions had been added to the unfunded debt. At the,openieg of 1818, every thing was- still represented in a flourishing condition : dream-, of ,prosperity were still flitting . before the eyes. of the Ministry, and even the - . Report 'of . the Cote, notice of Finance stated that the time was not far distant when a great saving would he tiffecteu to the country. That year the Right. HorsOurable Gentleman oppdsite bad brought in his Three and a Half Per Cent. Stock, as a preparation for paying off the .Five per Cents. The payment of the. 9 .000,0001. due to the Bank was te I sti bilS•\ peilded for another year, and it becathe necessary that the resumption of cash payments should be ,suspended also, and accordingly the relent to . payments in specie was postponed till the sth July, 18(9. He had moved last year for the appointment of a Committee to inquire into the affairs of • the Bank, , but then no one would hear of such a tiring. Secti a proceediue, it was thought, would be improper, and.the House came to a vote against it;.and- thus one entire year was lost. This, yeer such. an inquiry had- been pro , posed and agreed to, and the year which had-in tervened between his motion and that which had been curtied, it appeared to him, was sacrificed merely because the proposition for the inquiry referred to had cone, in the first instance, from ,the• Opposition instead of from the Ministerial side:of the House. It might be supposed by some that the year which has thus passed away was necessary to enable the Bank to -prepare for the resumption of cash-payments. No .such thing, This was denied by Ministers theniselves. The course now pursued had been statett to hare re,. stilted flow unforeseen circumstances, but the circumstances in question, he would maintain, had not been unforeseen. Cnuh4 any thing, he would ask, be more contemptible than the cone duct of Government had been in these matters during the last three years, in which they had accomplished so little ? It was material that the House should look to the final result of their mea sures. On the sth Jan. 1819, the puhlie debt, funded and • unfunded, amounted to '845,0001. — This was its amount in last January. On the sth Jan. 1816, it amounted to 859,000,0001. It would then.he seen, that in the three years which bad passed since the Peace, the reduction of the public debt which had been effected, amounted to '14,000,0001. and no more. From this reduction, however, some allowance ought to be made for the assets in hand in .1816. At that period, from the excess of certain grants, owing to particular circumstances, there remained in the hands of Ministers a soon of about 5,90,001. To this might be- added arrears of :the Property Tax, which, with the former sum, placed at theelis poaal of Ministers altogether the sum of 8,460,0001. Deducting this sum from that by which the National Debt bath been reduced with- in the period referred to-, the, real total ba lance of .iMprevement effected during the three .first years of peace would be found to be not otie farthing more than . 5,700;0001. Thus, then, , in the year 1819-theanation -was left' with a debt . of 845,000,0001. after three years of peace, which debt was not likely to - he speedily. diminished. The hope held Out to them with respect .to the re duction of the public debt, he had -not -much faith in. It ought to be known generally that these were, in fact, nothing more than those entertained by the Chancellor of the Exchequerand the Noble ' Lord opposite. It was true they had before them what was called the Report of a Committee, but which, was, in fact, nothing more than the Report of the Chancellor of the Excheqiier; -That Re port bad certainly curve to the House through the Chairmeo of a - Committee, but it - had first beep,' handed to him by the Right 'Honourable - Gentle-1 man at the head of the financial department. svhai on this occasitm had thought proper to avail hitn self of other organs than his own. 'From that report it appeared that there was areal surplus of 1,900,9001. applicable to the reduction of the public • debt in the present year. 'This, soap plied, would in the course of -the next two years effect a diminution of the debt, and with the 5,700,0001. already mentioned, and other items which he . enumerated, would make the total re-, ductioo accomplished in five years of peace amount to the sum of 12,000,0001. and no more. Now,' he would ask, if after this statement, which could not be disproved, he had not a right to bring for ward a motion like that which he should submit to the House this night •? Was it not time fur the. House to intet fere when Ministers were pursuing such a course ? Let any man who heard him lay his hand on his heart, and say, if he could, that they Aught to continue their career, and go on sacri ficing the interests of the nation as they were now doing, because they felt that they coeld not keep their places if they ventored.On bringing forward such measures as the circumstances of the Coun try required. - He had shown; that after five yeats of peace, if they were suffered to go on, but 12,000 . ,0001. of•the'eleht would be redeemed, and "thee the country would-find itself encumbered with a debt of more than 800,000,0 0 0 1, to meet " the events which might then arise, and, it 'ne .cessary, with such a hurdle!) to enter 'upon a new war. He would now offer a few words oil the situation in which Ministers stood with re spect to the Bank. The House were aware that •the Consolidattd Fund was the and to which 'the public' creditor had to looPtor'itis dividend, Whatever went to that, Find waS bps plicable for the discharge of his diMend. Now thar fund was at present in arrear to the amount of 3,300,0001. -There was no immediate promise of improvement. To that 3,300,0001. was to be added 2,700,0001. payable us the Bank, making together a charge of 6,000,0001. Now, did the House know that. the payment of the dividends every quarter depended upon the good will of the Bank ; and if the Bank were to turn round on the Chancellor of the Exchequer and say, we will not lend you the. 6,000,0001, you want to pay your dividends, the Bight Hon. Gentleman could no more raise the sum wanted for that our fiose than he could raise the dead ?—But if he could find other means of raising the money waisted to satisty the public creditor, was it well that in a time of peace the payment of dividends should be left to depend eotirely on the good-will of the Bank. He was tar from saying that the Bank would desire to give the public creditor any in convenience, because it might:be their interest as well as their duty to avoid doing so ; but was the state of things which •he had described that which ought to remain ? Though it was not likely that they would . take a course different trom that which they had hitherto pursued ; yet a s th e y thooeht thsy were at present not very kindly used, what' wouid be the consequence, if they should quarrel with the Chancellor of the Exchequer, for taking that line,of conduct which he might think it his duty to prefer, and,leave him to do with the disidetids as he could ? lie would now take sonic notice of the . recent finan cial operations of the Chancellor of the Exche quer. In the last year, the sum of 27,000,0001. had heen raised by loan, anti- no provision bad been made for the interest to be paid on it or for. a sinking fund applicable to it. Nothing had been brought forward to meet the charge of its in terest, which amounted to 1,600,0001. Assum ing . t he loan, in the present year, 'would be 22,000;6001. the interest on that sum, added to the charge he bad just mentioned, would leave the sum of 2,900,0001. to be provided for on. account of the two loans. Here then the HoUse would see they were placed in, an extra ordinary situation, inasmuch as they had arrived at the end of the third year of peace, without having provided for paying the interest of the money which they had been obliged to bor. at the end of the second. He had heard a rumour abroad, that it was intended to meet this charge by imposing new taxes: If the Sinking. Fund were resorted to on this oc casion, the House must make up their minds to lose the Nv hole of the 'miserable and contemptible surplus, the 1,900,0001. which he had announced to be at present applicable to the reduction of the National Debt. The proposition for imposing new taxes was one that deserved very serious consideration. He would now dis tinctly tell the Chancellor of the Exchequer that he would never vote for one new tux till he had placed the finances of the country on a proper and an intelligible footing. To vote new taxes would be doing no good. It would only goad and blis ter the public, year after year, to no purpose, in order to bolster up a little longer a system which ought not to he persevered in, and which, from the incessant fluctuations which accompanied it, made it impossible for any man to ,know wha t proPerty_ he possessed. if, as •he had hoped would have been the case, some More simple and. hoe]. ligible plan of finance would have been brought forward, there might have been some tempti tions to vote new taxes, but he would vote for none w hile no reform of our financial system was attempted. This Ministers had not thought proper to set themselves about, anti ,going on as they did at present, they surned their backs on their country, anti proved that they, wanted heart-vigilance and energy su ff ic i ent . ly to serve it. At present, as 'he had already said, no man could tell the amount of his property. Immediately after the peace the funds' were at 63. A year ago they %vele at 83, having risen no less than 20 per cent. anti now they had:, got down again to 72. These fluctuations gave for tunes to Many, but destruction to many more. Such: a system had made the people of this country a nation of gamblers and stocksjobbers. He di d . not mean to say those who were concerned in the funds had not a right to make use of . their saga city, and do that which was most for their own ' interest, but be viewed the 'preSent Government' as responsible for ail Ole losses that wt re sustain ed. It was now understood that money was to be raised by a loan in the present year, and spe s .cidation was as usual on.the alert. 'Next January would not arrive without bkinging numerous re-, ports of what would be the cease pursued by the Chancellor of the tkehequer in 1820 ; and those . fluctuations would continue, in the midst of which uo Man could say his property was secure. When he said this, he did not mean to say that property would not be.secure froM violence, but lie meant that those fluctuat itins would take place that must seriously affect property in a manner which be, in • his conscience, believed might be.prevented, if the finaneeol the country were put on a proper foot-' jug, and .which it was most desirable to-avoid. . at the end of five years of Peace, but 1 . 2,000,000/. being paid off, any of those possible occurrences should take place to which in the former part of his speech be had alluded—if any hostile nego ciation should take place—if it should only be necessary to fit out an armament, the situation of this country, with a debt of 833,000,0001. would be most perilous. This too was no secret—it was known , to foreigners, and ,to ,theM it would be. useless 'to talk of the valour of our armies and navies-,be was going to add of tbe• wisdom of our Councils, but that was quite out of the clues : . !ion. It was useless to talk of all these, if we possessed not the means of putting 'theft . ' in action, and these means would be wanting if souse improvement were not made in our con dition. The present motion, he confeed ( in Isis view of it, went to alter the present Adniinis tfatiou. He thought be bad made out a case. which jnstified hint in saying, the 'situation of • • s od the country required t4e aid of vigoo us obl e strong Councils. He was glad to see the '„,ht Lord admitted this, and this admitted he tb O T l 4 O / the House bound to interfere, by granti t lzas , which - would be the object of the presen t tu — , l oo Wpoever looked at the present_internal situses. ,of liarountry, must rig* that no Min! fo r istet ho was able or inclined to briUg ff).ll"ins those subjects most intimately connected wit" 1 ,, welfare in a way calculated to benefit the Peq,t What had been done with the Poor Law s bee a Committee bad sat, and several Bills had 105 1 brought in, which had failed. :Of the tw" to . that were introduced, one had survived its i n duction, and the other was now in its last,'' e tc nies. Was it not extraordinary that l iul6 ' e na should, in time of peace, find no leisure t o a! r o is •with effect :even to affairs like these ? had ot late done nothing. 'He was now 31 11 7,4 on the 18th of May, and he would ask the 1-I°_,,,a what bad been done in the course ot the Session ? He would tell them what. Tb e Y att J now just got through the Army Estimate s ' ae. they,had done nothing else. There had be e " i v deed a Committee appointed to inquire int ° 90 J affairs of the Bank. He bad moved for one , o d Ministers,. instead of acceding to his motit,,, l ' appointed a Committee of their own. His bat ject was to alter the present Administrati° l4 o l those who voted with him for the present 01° 10 0 need not go with him to that'extent. EverY d - ejs who voted against him would, in effect, recc l i perfect confidence in the wisdom and vigour ° , i o n present Ministers, and declare it to be his 0 1 111 ',, ( 1. that their career ought not to be , i n terruP w e • Those who voted for his motion would only de B pd that the situation of the country was alarmihg% ° ought to be taken into immediate consi ders iw 4 A mall might vote for the motion be was 8- i e sti to make, and yet consistently say, ‘e that 1 : 15 0 .011 of wishing to see Abe Opposition in place , ' of them all hanged."—(A laugh.)—But antes ~te~ explained themselves to the contrary, it 'o' o o dos to him that they could not vote against tlie tion without giving their unqualified apPobliaigbt to the course pursued by Ministers', But it I % i eri he supposed he only wished to displace gi fi n ;je that he himself might march into place. ' - ^ - 0 ha dared that no man wished less for office ° s wig did. He begged the House not to s"Pr g rioArf in saying this he laid claim to any extra c t',o l Merit. It had never been his opinion-that any ought to be ashamed of saying be wished t o oi e 4 fice, and he held those very cheap who endet tv° Kei to win popular favour by pledging thellls;er° never to accept a place ; for if this prinelPlebe acted upon by every man, what then would lit to satiation of the country ? Every man ° li g 1 1)0° wish for office, provided,he could enter it 1 .4 his own principles, and with a conviction 1"10.y. might beneficially exert himself for the cun t l i t But notwithstanding such were his opini° 118 ( 1 foe would repeat it, he himself, no longer wis lie el; ,office. And why did he not ? Because, fl'('lelc: be was now, thank God, in good health., b e s pa that within himwhich' told Lim that be yrs.,,,ese lout* the little he had once been. And -" could he gain by office ? When a Gentien t ,,, th o small private fortune accepted a high office 'JP! State, he .was sure to lose by his prom0 011 '," still if he thou g ht th a t with his friends be t ry do good, there was no sacrifice tha t i be ;., re ) , not prepared N. Could be,done without into office. He was' convinced that n ° to; Admiuis trati a of and meaning no disrespect individoallY "It fel t of the Gentlemen opposite, he could not 10 , 00 (19 that as a.wbole they were feeble, and did ti°l 3: and could do no good,' for the country, ° t oil 'they might take his word for ; it was the 0 ‘ ) . ) , 1 o f not only of those out of doors, but of In t) , L it t those who voted with them every nigl' t ", c ot s some might say, if the present Government? 0 0 removed, where could they find a bett er f could only say, that if any persons were ° nion that a better Administration than ir k t bd sent could not be• found, they must 01 ' 1 , 0 60 country in' a very bad state indeed. H is " o f Or would be for a Committee oti the' Stat e c olsl' mmankteatostrjooning them ano Floe _Nation, in which this qiiestion conk , ' b e o t tiered. Nothing more was wanted on th e P i s eal that House, than an exercise of their g°° sit st!, on the best means of retrievin our aff'" r 'o 1 r; he. considered that lie performed hishis dill wilt 'Country, putting it in the way o f cno sic o iarY that question on which its best interestro6,ol depended. He might be told that thi s III " was prematurely brought on, but be thong"d tor observation was not called for, as he b 8 1 ,05 11t by faitnoth wtouchi n ith thg on the Righte affairs of ihee ourabl Bau Ge t. ° ' o rl ~" teriug at large into his financial plans. l ie) , fit t " ever, was of opinion, that no time would be 0000 debate the Bank Report, as that when t he should be in a Committee on the Stat: c :o: l ' e, 4 l- Nation, It was to he remembered, Ot et i d that subject came before them, they 11 ": 1 v0 011 i more to do than merely to consider bur,' They would have 'to pull (loan as well as t- , bit r o up. Ministers, - it was to be remember Dice, given two different opinions on the san te in one case they- bad pit it on ree%; t ic d a Bank -note for .one pound was in coati ) g oL; ceptation equal in value to one pound 111 0 (V i c they had declared in two volumes the n ot/ te o table, one of which was their own, ant; tidy bad come to them from the Lords, no t their value.was not the same, but thart he ,.' c oft .t P7 not be .of the same value. The consequent' ,jjauti; was, that no man out of doors could i fo r° L , boi c e f e t o ment on the real state of the case. g for of the Exchequer had stated that ` )- 6 0 an c- 1 state what were his views respecting ( b e o qi of the :country when he brought f °l. %ffic iell, Budget, This, however, would not b e S I if fe i° l i for him, but. he Mighthe better satisfi ct i orru er , r , lutions were brought forward like those 01 0 introduced by a' Right Hon. Gen tien r,iog v t 6 Canning) on the Catholic Question, pie t 'b - ti t p House to go into it in the ensuing s e 9si TtU t tir e i this done, Ministers would be oblige( theeYii their thoughts seriously to the subject, or t 0 00' of his Royal Highness the Prince Beg s o f be opened, and he would see the necessitY playing other persons in the service of tbleriiiiLigll Ministers ought to he obliged to him for ' tbe rik t / this motion forward, as it wou ld enabl e I foot. r OP' see, not perhaps who were their rea del' Who were those on whose votes they wigLi• t • Stie ~. •o.,..rttr Tax. for ;hat rested the events which might then arise, anti, it De- I the country required t4e aid of vigor°ll,„joble such a hurdle!) to titer upon a new strong Councils. He was glad to see the 'tiviit • r --1 —l—tirßit this. and this admitted, he th° `Oki to for IN, con find ter t, 0 0 11: t to : ~4. ~.