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

• 'w debt of England had increased within the period
which he adverted from 413,000 900/. to nearly
7,m,000.000/. and that of Ireland from about
1.4,(I40n,0001. to nearly 92,500,000/. By the con-
-ii.idrtiost a large portion of the expenditure to re.
iy thia debt devolved Ppm! Eflientip Ti a 1104
?t-solution was in obedience to the view of tite
Fusauce Cornmittre, tumpvir, that the supplies to
iir• voted for the peeseut year may be stated at
!u....,un.p00/. The fourth Kesolntims was, that the
',it-flog revenue applicable to the supplies cannot be
il at more than 7,000,0001., leaving the suits
of 13,3,50,000 r to be raised by loan or other extra-
teriturce. The Afth Resolution wits, that
the sinking fund applicable to the reduction of
the national debt in the present year may be esti-
mated at 15,3400,000/. exceeding the above sum
tivcersrry to 1w raised for the service of the year by
about 2,000,0001. only. The sixth Resolution
w.or, that to provide for the exigencies of the pubic
service, to make such progressive reduction of the
natiosisl debt as may adequately support public
credit, and to wtford to the country a prospect of
future relief limn a part of its present hardens,

it was obsoletely neceseary that there should be
a clear surplus of the income of the country he..
yond the expenditure, of not less than 5,000,000 f.;
and he called the attention of the Committee to
the conclusion of tile sixth liesofiltinti, which wire,
that with a $ iew to the at eri iiiii ent of this ettiportatit
object, it was expedient now to increase the income
of the counter, by the imposition of new titers. to
the amount of 3.000,000/. tier annum. The first
of the lieselutiuns to which lie would revert, was
that which alluded to the repeal of the Property
Tax. Hr slid not mean to arraign the deci.rion of
the then Psrlisment, though it differed so mate-
rially from his own. lie hoped, however, that ilie
Protest beneficial to the country at ;
though ill his conscience us a man, and in the exer-
cise of his duty as a Minister, he had felt it would
. have been better for the country to have adopted
the measure which he at the tune recommended,
with a view to its ultimate prosperity. Industry
had since revived, and it was necessary to procure
for the exigencies of the country a clear surplus of
revenue, as compared with the amount of its ex-
penditure. What he was about to propose wrs,
to place the revenue, as nearly as possible, in
the state which it bore to the expenditure in ,he
year lel6 ; to restore. in fact, the revenue to
that footing on which it would have stood were
the Properly Tax continued oil the modified plan
he hail prep esed for two years after the period he
alluded to. if the conti iiii once of that tax in its
modified shape lied been allowed, the country would
have avoided the debt to the Bank which it slow

became tiecessnry to repay. The time had arrived
'elitism permanent system ut finance must he adopt-
e.l.-:--trinporary expedients, thunglt at fillies un-
it/foldable, nita.4 in the end be given up—(Hear,
hear, from the Opposition Irenciseri—and when
P.llll4lllelli had fixed the period ul return to the
ancient standard of a metallic currency, it was full
time that Ihr thoraces of the State should, as well
its its current.), be lilted upon a permanent basis.—
(Ilene, hear.)—The 6th Retention bad stated,
that the antnunt of the sinking fund, as applica-
ble to the reduction of Ibis year's debt, exceeded
the amount necessary fur the bYrtiov of this yeas by
rihnitt 2,000,000/. only. The fourth anti eleventh
Reports of die Co 000000 liters which sat on the public
exprinlituie In the late year, had estimated the
pnliliv income and expenditure as follow :
the iacume of the year ea.liag the sth Jaautry.
IC la, w.tt 551.300,000
711 P espeoJhas fur the slaw inrush' Ullll • 54;200,0111/

Learini, aft.r Ski clisianal 4.f some incident-if
income and ixpenditme, a deficiency of nit-

. .
wards of
2,000,000
This arrear .7'1,1 matte g..... 1 in the taus‘e 4.f the seine
~..r. chi, fly by the p.i).in til .0f an arrear of 11.ir Tax..., •...1
i hi, fly h 3 the all•tit nt sun of • part of the sign:nth il nun
i.t. ItillS.

'flee 111COVAC of the year ending sth January,
ISO, was
11w rapt utirturc „

Making a deficit of
The income of the year etidtog the hilt Jeattnry,
1614, um. r5.,0113,000

_ .
he • aptudititer

Makin; a am rprut of 1,681,000
The income of the rear ending on the sth .In.
- . _

ieuAry, 1019, rim 1:34,000,000
3 bc e•pentlilure

Lea ttwsc • errphr• of i,960,000

Now, whether they provided within the year the
expenditure, or consieered the necessity of putting
the country in a situatiou to meet any future
emergency, it was iinifostible, with such a surplus
in the cue teat year, to hold out any d 111 l inithon of
the :whim burdens, when it wet, coostelereel what
was the amount of the public debt. to the first
piece, if they coosidered the nature of the abhgei.
tiou iiivoieed by the country to the public creditor,
it was sinputtible they could limited any Nether
without placing their nuances upon it footing stele
and stable for every purpose. It never could hate
tsetse in the contemplation of 11.1 r. Pitt to have
looked upon loans as a permanent part of hip boon-
cial system, and therefore, though on the pretest
occasion it became twcessairy, sitectteel as the tann-
ery was, to retort to .ircls a spleen of rsi•utg money,
yet be (the Chancellor of the Eachrquee) lead no
,hesibitioniu declaring, that it was the indispeosal-cle
deify of the *loupe to deliver the public front
►uch a system. If at the period of 17,92 a
Finking fond of 1,000.00f.d. was deemed sof-
belted, and had been I dat the period winch
tallow-et' to work to well fur the row tn., will.at
reason teas there to rupvo,e• I oil when the existit.:4
turn, amounted to 6,000,000/. its operation would
root be room' to act in a progiessive ratio in the Jr-
liIICIIOIi of the nut • I debt ? Ile looked forward in
a let. years to it gradual augmentation of the +sok-
luig food to a sum of out lest than 8,c000;00/.
rum which woulel aiiinant to sae per rent. (or pulite-
Siting lours) OW Ilse whole lioreeleettled debt of the
•topers. The benefits of ►uch it stoking food
would then be poweifully felt, acting Ur rettral
Willi towards the extinctiou of the public debt,
by inhiraviiiig by lice oierratsois of compound
'lathiest, by reducing the finials at motorists hest
suited for ,uch reduction. At such is meemeret 11. e
politic might fairly look forward to WI efiectual re-
ductimi of the hoidens of the couutry, great
national improvements might be undertaken with
viii it and vigour, and the property of the cutiiiiry
improved to a degree :dhows the interests of every