The British Press; or, Morning Literary Advertiser.
London, England, 1809-05-13 00:00:00

SUPPLI :

.
Navy
Army
Otbwrice,
Ireland

--.:--L L 5,90a,179
lIINCELI.ANEOUM.
Eniand
Irelaud

L i,000,u00
VOTE Or crtEDIT.
England
Wand
En,auntnno
Swedish Subsidy
bieilian Sabiiily

. Total joint Chaecea
Enel+oni--Nenarnie niargeri.. Defi-
ciency .4 AIR!, Duty, £. 1107 L. arA,.,ti I
Infanta oa Exchequer .....
pally per Cent. i ;97,t0 be paid tiff iai,nd.7
"""--- L. 119?7•070

.

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•
Tntnl Supplies
Deduct Irish propoition of Supplies Lind Civil
List
Leaving, on account of England
N'Al'S AND MEANS. '
Doty on Melt and Pensions ......
Surplus of the Coirsishasteal Food, to Rsaalb
of April, Ia iv
Surplus ars) a mid Means, 14011
%Vat 'faxes . Ithouey
twittery
Excess of Exthrqner Bills of the 49111 of the
present Reign, atter reserving sufficient to
pay off 7,J45,4001. issued by the Act of the
audio( the King, the reinainster having been
feuded--amouuting to •
Excess of the same, voted in the present Ses-
sion of Parliament, reserving inefficient to
pay 064,014,11/91. issued by the firth of I.IC
King, the remainder having been funded
E•rlietwei lAllc ou the Vote of (ii-dit
Pas moot of the Lora advanced to Portugal
Loan

3,154,100

Making a Total
Front which doloct Sup!,to,

Surplus Wads and Mesas

Raving stated thus much generally, I think it my
duty to call the attention or the Committee par-
ticularly to the sum of 11,000,0001. which has been
raised for England by loan, 3,000,0001. for Ire-
land, and 600,0001. for Portugal. These sums,
amounting iu all to 14.600,0001., have liven con-
tracted (pr this morning, and I have the satisfac-
tion tie state, that the term* upon which this loan
has been procured are eleeelltagly advantal eons.
It Inns been, partly contracted for in the 4 per Cents.
partly to the 3 per Cents. Reduced, and partly in
the Long Aitnnittea. This is considereel.the most
advantageotis Luau for the pub!ic that has been
contracted for during many yeors, the annual in.
tercet bring only 41. lis. lied. as follows

L Cm) -3
µ•r Ceat.ltedueml L iti 0
L Uto 4 per Cynt.
Lug Auuuttics

• Amiss! Interest .... L. 4 12 In
From this it appears, that the ainuunt of interest is
only 41. 11.. tuff. per Ceut. which 1 believe is a
rate of interest. at winch this cooutv7 hardly ever
borrowed at before, and it which -it Ir hardly ',ra-
table that any private iirdieidual can procure mo-
ney to any exteut. however prompt the payment
might be. The eopplyto Portogrol of treo,ouul.
•to advanced to the Prince of the Ilnixds sipon gocd
security, at the rate Of 5L per Celle interest. 'soy-
able out of the protium of tie Brazils sent to his
egente,end by them to this ixtuatry. .The security
is the revenue of the island of Madeira. lam afro
to state .to the Committee the rate at Which the
Exchequer bills were Yuiided. and the muck that
has been created ivy that operation ; the total stunk
raised by these means ammonite, to 8443,6441. and
the total eharge marregement thereof, and of
the Sinkiner a. '
uad, is 4!)1.'_!4!)1.'_!11.4Il. This operation
was performed at the rate Ohl. 46. per 1001.
the interest of the holm i. 41. I.ls. hid.-; so that
the total charge created annually is 1,14;46661. 14s.
It may perhaps be satisfulory to the Conainitter,
that I suite the comparative rate at a hick the ma-
nn- for the servic of last year war- procured, %vial
that of the present f•iiresion. The Exchrouer
fowled last year unwonted to upwardiof 4,7000,0001.
and the interest 51. 44.• ISd. which with ire. charge
of the Sinking Fund,. pl. Is. Sad. emitted a charge
of tit. 5.. 110. The liichequer bill, of the pre-
sent year are nearly double in amount to those
of the last, which were func:ed at the rate of
61.55. I ltd. while those of the present year do nit
exceed in charge 61. ds. 2Sd. givirig en advantage
to Alin, year over the former. • although upon a
smaller suns. The Loan of last year was only
eight millions in all, and the rate of interest
41. 14,. hid. while the interest of the Loan of this
year is, truly 41. /is. luti. From this I draw this
satisfactory conclusion, that there appears to be
nothing that presses hardly 'alm the country, so
as to diminish its wealth or its exertious, even al-
though we had its financial operation* carried to a
greater extent iu this than it, last year. The
charge of the Sinking Fund last year amounted to
51. 18.. ‘2d. per Cent. Mid' No year it aniontits to
.51. 178. •21(1. Taking a einnyeariorni of the whole
provision of last year with the whale of this, it ap-
pears the avenige charge upon the whole stock of last
year, 13,ti53,2151. wastil.fgd. and the everuge charge
this year, upon it ram itscreding 9.4100,0001. is
.31:tia. lid. I have thought it primer to state this
average cornpurison, to show the Cointuittee how •
advantageous the bargain has beers transacted for the
Ilnadolition to toy hat statement as to the
Loan, I have the satisfaction of saying, that as near
us ran be at present judged,. the coutractors will
loaves premium of 11 per cent. I have stated that
the total annual charge to be provided this year,
•attiOutill to 1,143%5tk1. 148. and I many notice that
lest year I ars indueed to eupply the tleficieuey be-
tween the Alm then- required, mid that of the year
preceding, by imposieg new taitatiou, in order that
the mode of taxation of the preceding Parliament
aright riot be trenched upon.. The proposition or
the Noble Lord opposite (Lord, Ileury Petty) wir.,
then, that under the ciretintstances of the country, It
• was thought ailviseable that iiisteird of provislieg new
taxation, to defray the charges of the udditional
loan, an application should be made towards that
object of the existing war taxes, for three years.
Now chi, mode was uot resorted to last veer ; but
it is what I mean to have recourse to iii this year ;
for when the Noble Lord snguested the expedi.
eircy of this cessation of taxation confirming for
three years, he did not contemplate, that the de-
mands of the public service would enerease, as it
has uuliappily done during. the smartie of lien
yeur. I urn sure that no roan 5110111.1 he
ashamed to alter his opinion, if he really sees cause
to thick differently at this rimy, fruiu what he
thought upon a former occasion. Bin even if the
Noble Lord does think as lie dod before, it cannot
he fair for him nor any man to sity, that if taxation
should erase at a given rate of experalit ore. it would
he wise not to look to other Mean:4 of taxation to
defray the increased charges Nom ors incieuscil ex-
penditure. Haring already adopted this plan of
mortgaging the war taxes for two veere, insterul of
three, as formerly proposed, 1 think the Iluitoe
will 1w impressed with a conviction the pro-
priety of now adopting it another year. and uh.
staining front new toe-dire) for that period. lb.
sides this, there is onottier sreiree. from whirl' I
provase to defray poet of the I ttir the present

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•—• S"..."ssipreresi,
year, rind that is by the consciidation of the CM.
LOUIS, fur which 'impose, and for a small ale.
tetatiou iii the mode of enllectioni of these dutieo,
a bill is already in progress through the Flutist.--
The increase arising from this, may probably and
reasonably be committal at I tr5,..e.n. I *hall like.
is ise propose to raise, an additional ruled ticarly to
the same amount, Irons a similar consolidation ~f
the war taxes. Deducting the aunts thus calcu-
lated to arise flout these two sources. there will re-
main probably 1,040,0001. to be referred to the war
taxes, being mortgaged. It being proposed iii the
course of a short period to submit to the considi r-
ation of the Douse the propriety -of granting A
vote of credit to the eitiount of 3,000,0001. for
England, and 300;0001. for Ireland--:mud 1 do now
think it necessary) just to state oue circunistanct,
with that consideration which wises inernedivitely
out of the present Atom of 'the Continent. It is out
thouAt advisable, ON account of the since of the
Continent, at the present moment, that there
'SIIOIIIEI be any definitive or distinct arrinigemeet
proposed to be made with retard to the binomial.
of expenditurk, which it might be ii• isinothle her
•Mojesty to fuenieli, in assisting his al:les with iii u,-•
"of clefeuce ; but F hate, however, to ohmic, tIro•
taking into corassineraterei the situation of this
toontry and its bearings io *regard to the Conti..
limit, at the present ttttt nient, however desirous ae
may be to furnish our allies with assistance, it
does not seem expedient to hold out to the
world thief this conertty is or Call be able to
defray expenses to u much greeter extei.t
• than that tiltich I have stated. With it:-
Karel to Austria. f here to inform .the
that withotu waiting for inforinetiou, ur to lion far
this country would be dispoied to assist tier its the
event of her going into *Creel' war *skit Flame, she
has ventured to draw UllOll us to an amount, which,
although very limited, must certainly
,be deemed
enough under existing circumstances. There hare•
arrived bills drawn upon the Treasury of England,
winch have not been punt by this country, as it was
not thought proper to do so before a statement 01
the fact was communicated. to Parliament, lint it
is the intention e.f His Majesty's' Ministers to
asthma to' the (lodise the pireiriety of fitriiishiaig
the weans of defeat:int.!, out of the vote of credit,
the uwaitimee required, as far as sm.:. be deemed
necessary. Vie hare reason to expect that the
amount of the bills drovii amount to about
3,00,0001. ;. and I was desirous of stating this fact,
upon this occasion of opening the general view of
the finances of the country, before cur actyance
shoots he made out of that sum to be voted."—
The Right Hon. Genticinan then concluded his
statement, with moving as it resolution—
" That towards mixing the Se;•ple for the ',relent year,
the nun of L.i4,6to,vut) be valved, by way of Loan, foe Great
Itritais sad fretaini."
Lord Hamm Porn( professed his intention of
avoiding; to tepees* any opinion at the preiteut mu-
mew, upon, the palm or, itupoliey of affordiog aid
to Austria, es he hoped that Minimises could at a
future day takecare to exploits the nature of' the re-
lations Li which this comitsy stood with her, which
alone could
siiistify the policy or impolicy of the
measure ; but he found it impossible to timid, on
the subject without adverting in some degree to
. the inniciple of sulewLzinX the lamer.: of the Con-
tinent in general. He wouhl not be supposed to
aloft litsat its we hesitance or on no nottbuoit he
would think it advisable to grant subsidies her tf e
support of what might be skewed a common ClUse,
because the policy of such a measure must always
depend upon the consideration of the eirettmatuu-
Let attendant on the particular cow; but if ever
there existedone period more peculiarly interesting
than another, the present was the one in which we
were called on to look at these cirenundatices, nod
to he cautions how we afforded .pecusiery succour
to the Continent, and to wi igh well the ronsequen-
ces as well as the hope, to be derived from inch
measure. Among the various instances which
occur, the subsidy to Sweden was peculiarly Alps-
tattle* of this iteciewity, where a stun had been ex-
pended in this way, which, at a time a hen retrench-
ment wars so loiooy coiled for mid found so neves-
, sury, equalled' the amount of our clad. list. At the
time that subaide hail been agreed to, there were
three object's, peculiarly Maimed on as bring !dirty
to he ttttt noted by the measure. The first sea, the
great facility, selliels would thereby be obtain, d pi-
wards the promotion of those commercial advaiitages
wliith..were held nut to us; and yet it was found
that no cornieve•rciul arrangement whatever had ta-
ken plat e from that time to this between Sweden
sal this country. The next object was the Iwo-
motion of that military concert which sees so to he-
ot the codun,m, cause. Need it be asked what
was fliMe ow this 'mud, where it large military Inoa-
me it had been sent nut train this country without
Mein; permitted to effect any thing ? A turd °h-
is t 'wench d to be effected by that subsidy was
to enable tie King of Sweden thereby the hitter to
support and pay cheerio), lee should twine into the
field ; mud yet one oOf the prmeipall eircuinsisitees
which contributed to the hard fate of that insfor-
tonate Monarch ; and tviefrelietg must those be
who did not commiserate- hula tall, wast as far a-
dornments chew, his failure in the subsiatim;
mid paying his troops. Thus it appeared, that
no one of those objects fur which that treaty of
subsidy lied berue *dopted, had Been attained ; pen
the contrary. they had been, every one of them.
completcly.defeated. This, them moat elearly de-
itionstruted this absolute necessity of looksog nar-
rowly not may at the object, bat the practicability
or bitch engegemento. On the subject of Chimney
he agreed entirely in the mode adopted by the
Cintiicellor or the Exchequer, of applying to the
war taxes no a resource fur satisfyitig the preset.: .
demands; but this lutist Ira taken with twine grains
of allowimee, for lie could nut hut hesitate its con-
seining that they should be mortgaged indefinite-
ly, without at the setae time taking into considera-
tion' both the tootle mini period of redeeming theM,
ems essential to the preservation of their credit, nail.
of mime, their vecurity. With respect to the loon
itself, he totitloubteelle'teirtoult in the general sati-
Ltt.l ion that must lie felt at the term neon whirl'
it lead been effected ; hermit, at the same time, his
doolits as to the pruptiety of the fauds ill which it
!MI beat placed.
Mr. CANNING, adverting to the subject or our
• relation's with foreign powers, ocrt-ed en the pi)o-
-c'"1" lottl down lie the Lord, that there
could be no gc:c:r.d. psoniple :Wooed ott 'Our!.

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. ' •
to rbeide on the propriety, or otherwise, of oar
donnesious with them, but that each case
must depend upon its individual merit.--s.
In the case of Sweden it most be admitted that
that power had in no degree persisted in the system
of hostilities through the suggestion or Whinier of
Bighorn' ; on the contrary. it slionlil Ise kiiipwit that
it was fully and distinctly understood by her that
we were in no degree dissatisfied with her making
any arrangement consistent with her own interests,
for terminating hostilities* with the enemy. exceirt-
ing only as it might lead her i,ito hostility with tlds
country. Ilpon the subject, however, ("faint !sow-
er, he felt himself bound to a ',beta degree of si-
lence, ouly observing that the !optima of the sub-
'tidy had been put a stop to only sip far as had been •
already stated by his Right lion. Friend. With
respect to Augna, it was rertainly trite in is very
eminent degree that a total ebstioence from ell ad.
eke or influeriee had been observed towards that
rower; and this gronioled upon a feeling that no
iiilvifrute whatever we might hope to gain by her
oisieg to war, should make (Is urge that which she
ylol not feel to be her peeu:iar interest to adopt. if,
however, she should find it necesary to adopt hoeti-
Inks a disposition bail heel, shown by this country
to silent her vetch assistenee as night be within
our power. At the same time, uo engagements
whatever, or a specific noun., were entered tutu on
the subject; one prelitninary only, mill that tweets-
nary to our ()Wl' I.IIIIWIr, was insisted on, namely,
that of rest/snug the ancient relations between the
two conaitries. As to the bills drawn by Austria
ou the treasury of this country, he agreed there
was certainly- tin sp oifird or authority en which.the
step could be jubtitit•ib cited that they might, in
strictiteap, have. been dishonoured; and care had
'been &beady taken to pot a *top to so siogulur a
mode l& proseisling; at the saute time, that it was
-not thine;Mt fit definitively to reject them, until
the reuse of Purlianieut should be when on
'the subject. It had not been deemed expedient.
to define the extent of the assistance to be af-
forded to Austria ; on the contrary, it was revolved
only to apply to Parliament for the means in the
'halm of aof vote credit, leaving in the hands of His
Majesty to retain the power of disbursitig it in such
proportions, and at such periods as lie should be
advised.
Mr. Possostav contended that the instance of
Sweden demonstrated the danger of grouting sub-
sidies without being first folly assured of the event
• intended to be extracted from the measure. The
Right Hon. Gentlenialt had said, they had left her
at liberty to Make a peace, if she had thought tit,
and in doing an, they had certainly done what was
right, hitt in Ibis judgment Government should
have done miteh more. They should have been
acquaiukd with TAW was palling in Sweden
utotithle, or even weekly; and if they had. they
should bave known, that furnisliiiig him with too:
uey was only hastening his ruin. As to Austria,'
he begged to disclaim every 110t1011 of giving mo-
ney, as consideriug it utterly useless. Ile stated
it as hit decided noiniou that uo effort on our part,
in the shape of money, could possibly effect anx
gond, and Otis we should fail in our efforts
with us souall inconvenieuce to ourselves. Ile
knew how painful it was to deity in what he
feared 'Meld he deemed a last struggle. hit he was
impressed with the most thorough conviction, that
no pecuniary assistance could- prevent or impede
those misfortunes, which he foresaw, while it would
be attended with the most serious inconvenience to
ourselves. At a period when he feared we were
about to couteml, eingle-handed, with the whole
undivided power of France, with no reliauee • but
upon our own resources, he conceived we should
not lightly dissipate those resources, to which we
must ultimately look for our preservation.
Mr. CANNING explained, that he meant only to
votivey, that it was not intended to bind Govern-
ment to any specific stipulation.
Mr. Witurlsaasni declared, that he had rather
lave seen the whole of the money advanced to
Sweden given in one suns thou measured out
as it was IA fieLnil, no he considered it utterly finite
to expect, titat either principal or interest would
ever find its way back to this couutry. They all
remembered the !onus that were taken Islam the
limn to Austria to secure the repayinent of it, cacti
to the taking care to insert a power to sue
the Bruperor in Ili. OW it Courts for the money ; lie
would therefore prefer seeing the whole sum ad-
vancer' as o gift, as then we should. lows what we
were to expect. On the subject of the subsidy to
Amorist, he felt himself obliged to go further than
what hail been yet advanced, for he dud not hesitate
to say that lie eonld not assert to the payment of the
Bills drawn by that power. For his own part, he
was decidedly of opinion, from the beginning, that
it was enadness to urge Austria to cutter into the
struggle; had she at first made a stir for the pur-
pose of enabling Spain to sustain the conflict she
bad entered Into, lie had no doubt that Bonaparte
would have crushed her : mid now when he had so
large a force stn Spain as to be able at least to
keep heir iu cheek, he hail marched tgaiiist Aus-
tria, and he firmly believed he would shortly
be in pnssemion of Vienna. lie thought it was
not enough for Ministers not to advise time
power to go to war they should advise her
to remain quiet, as, iu his opinion, to stir was
to meet destruction. Ile Bonaparte what he may,
she .ought to look back oil her former con-
quest mid -restoration among the powers of Eu-
rope, and ask herself, had she no fidelity due to her
engrigements with any other powers than this coun-
try ? If, therefore, a ruheiely to that power hod
been !proposed this slight. he should have felt hi to-
oelf bound to oppose it, even if lie had stood single
in his vote; as firmly believing that British gold
was slot Ale to overcome the trot of Franer.—
Upon these 'oi-mods he was of opinion. that those
bills drawl' by Austria should he refused payment
in the first instance. • A vote of credit to the amount
of three suillions• was now proposed to he taken,
and yet lie could not see where a single guinea,
except in the case of Spain. could be used with
adruntage. Ile wished Ministers would take ad-
vice from Ong book, which lie could neser peruse
without admiration of the superior excellence of its
author. (Mr. Fos) whose knowledge was intuition,
and opiiiiiess proplievy. .* that in order to site-
teSs we elionld stop noel pitilte at the past, and at the
same titem kook forward to the future." For this
bathe. money inteiteled for Austria what i_
tolizlit, whether fire pounds,, live thousand, five

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