The British Press; or, Morning Literary Advertiser.
London, England, 1819-06-10 00:00:00

to
With that atte..t.. t.t Itostitsi)S o.•isud
pay to the trgular rorttui of Parlienieut, he mi,1,(„1
it WJS not 1114 tertri,tien at Present to
tO Piet. that, as there yet restrained some supplics
ei'n'obte;kl7telette awl Mewls, hut •tu frorrotr from
the evoking food to the antorrot of 7 2,0111),0001,
eseeviill..g all F. 5114.01101 10 he Kranterl.—
-rr„is mode ef proree.iiog Het ullty secure
reeohowy, hot %fluid alloorl ao opportunity 1,1.
making tho.r., cit!eolatirote oho I it nstAltt he hefts-
sere hereafter In lay before Ilse hods!. He •Wenil
however, presently stale the out row of the arraoge-
moot, otth rests, ut to the loan from the stnitiog
ninth
l'lsc hasi Saprlira U.r Mt ray. as !$t !*3.1
already tolusterated tlw_m, autiottuttl I 418,471,4x9
To that 10 ha tllldrtt
1,01441 d un EllfilrlVIPT BAIN
Stoking Fuuul ou twit,

So that what was cfaiiteit for eel,. re of
Ihe year full short the sum us 21,ri0n,0401
which was stated uI the R..folut ..... alsrady
agreed to by the [loose, amounitug to £1n,477,000
To meet this expeoditure the House had already
graiithd the comma duties en malt, tobacco, &c.
wad aiso is grant of J,500.004. till the temporary
Excise duties. In addition to shit lie meant to pro-
pose a Resolution for raising tile sum of 240,0001.
by way of lotter, aid a slim of JJ 4,0007. Maas der
rived from the side of old tIAVIII la(tlteP.
The agxrcgatc of these swine was
It was °bylaws, therefore, that, with a view to meet
the supply granted l Barb norm, on extraordinary
stint of isAimmont raised by w.sy of loan, would
be sidlicsent tor the sersice of tie year. But he'
need trot call to the recollection of the Committee
that the prove ding which hail t .keil place with re-
Floret to the resumption of cssli payments by the
Bank, led to an arrangement fisi the re•insyrnent to
that body, iso the course of two )rays, of the sum of
10,00°,000/. Of this it wail necessary that 5.000,000/.
shook' be provided in the present year, and
a fusilier sum was demanded fur the reduction of
the intfunderl debt. 11l order to meet those rottraor-
donary charges, which were added to the ordinary
service of the year, it war proposed to raise two
had been contracted for that moriiiiig,
by uompetiiiim, to the amount of 12,000,001A—
the other war's loan from the sinking food to the
amount also of i 2,000,000/.—w loch would be rub.,
trotted to l'isrlisassent tit Ell early day.
With respect to tills loan from the sinking fund,
as it would lie his duty sou a future occasiou to
its coistlitiotis to the 1-louss-. lie would slow only
observe, that, ill order not to interfere too much
with the money tnarket, it was so arranged, that
the 151,000,000/. should be paid in the course of
twelve 'wool's, so that a considerable sum Amnia
still be left in the hands of the Commissioners for
-the reduction of the national debt, to entitle them
to make purchase" of stock. lo the October and
January quarters, it wits intended that the monthly
payment should ht 900.000/.—iu the April and
July qtoortera, 1.100,0001.; by which arrangement
very nearly 9 10,000/. would Le left monthly cot the
purchase of stork, exclusive of the Irish linking
fond, from which no portion would be taken. The
loan or le,ooo.owd. try competition, and that taken
from the 'Miring fund, added to the taxes that had
been voted, formed a total lc ovation of—
Ways and Means, to the amount of .. £31,074,000
That sum. ciituvirtd a.th the whole Supply of 20,477,009

Left a surplus of 10,697,000
which would nearly cover the sum of 5,000,000/. to
be repaid to the Itattk of Eughttol—autl 5,600,0001.
due to itislosidual holders of Exchequer Hills
Making together £10,600,000
lie had informed the Humie that a loan, by
competition. for I 2,000,000/. was this morning
contracted for. Ile would now state the terms of
that loon—awl lie congratulated the Committee
that such terms lied been obtained. They were
highly balkfactory, and proved the rising cosifi.
deuce and spirit o Well pervaded the money market.
The loon raked was on the terms of subscrip.
thin fur 12,000,0001.—f0r every hundred pooods
of which, eighty pounds cousolulattelannuites (pay.
able iu July, and having no retrospective in.
teresi) end 621. I tits. ed. in the reduced, were bid.
There were two other lists, one offered 651. 10s.,
the other 651. 21. 6.1. The list which obtained
the prefrience very far outstripped its competitors
in the race. The party taking the smallest portion
of stock in the reduced was entitled to the prefer.
once—and. of course, the lower the bidding, the
less quantity of interest the public were called on
to pay. The two loans, that, by competitiou, and
that from the sinking fuud, must be considered as
for • g *lmmune irstisuction. The whole must be
looked on as a juied loan of 20,000.0001. There
was thus created 34,304,0001. 3 per cent stock.
The interest It 41,
Su..king Fund 402,594
Camille fur Slsusgement, on the usual terms 10,291

Making a total of
Here he tltou2ht it necessary to observe, that he had
on this occasion strictly carried into effect the at..
ratigentent of 1813. By that arrangement, when
the luau fur a year increased beyond the proportion
of the sinking fund fur the tune. a fresh sinking
fund, to the amount of half the interest, was directed
to hr formed, This provision might, perhaps. in
strictness, have been dispensed a ith. because 40
great a portion of the loan would be appropriated
to the payment of the unfunded debt—but it was
conceived better to form a proper stoking fund.
11'ith respect to the charge for management, be must
state, that hr did no consider the Batik to have NI
right to claw such an allowance on the sinking
fund loan. but meetly me that prvettred by comp e.
The reason of this distinction was., becalm:
the nuking fund loan represented an equal amount
of stock in the market—►t stood in the name of the
Coonuitaioners—und was applicable In the ►teeter

...,uu•r wadi in their hands. The rate of
iutere►t on the I•wn to subscriber& was 41. +Ss. 9d.
amounting, uo ali average calculation, of three
per cent. stock, to ti9i. The total rate of
charge paid by the public was 61.
lie again congustulated the public on the terms
of the luso—wlach, he thought, would not be

unievourshle to the solventuraus parties who
had taken it for the public service; although the
terms were is lON that, with reference to the int.
giettitatv price of stock, the bidding wits !lordly
justifiable on the score of prudence. He hoped.
noweser, that it would ultimately prove oidsaa.
tagenus to all parties.
'Before he proceeded to the Other part of the cub.

et, i.e might be aiiowed to advert to the sum...!
winch would be necessary for the emoting yirmi.
As fur as he could judge at pretent, hp hoped.the
amount that would be required t. be.vdised in the
next year would nut exceed 11,000.000/. liar the
different branches of the imhlic* eureice, and t„
pay back to the Batik of }Logien/ lite rein4iniu4
5,000,0001. to complete toe arraiigement for the
liquidation of 10,000,0001. due to that
There would then be
.iin more than 4.00o.no)/.
necessary to he borrosirtd hi the mark-t. Intwt4.. the
surplus of the sinking fond. That small
could easily be procured--rind be 1,0,;
hoped. looking to the prospect of ri 1.••1 t
triniquiliity, that this would he the hat ttop.
wool bare occasion to resort to the money nirilfrt
during the continuance. of peace.—( I /ear, hear
,t
—And perhaps even that applicati,,,, might
avoided by some management, when the prolir!
period arrived.—(Hear, hear.)
The next branch of the subject was the mode by
which he proposed to realize the pleil,4e given by
Parliament, that 3,000,000/. shoubi be wised hr
taxes for the public service. Ileitig oft rite goll..rt;l
subject, before he proceeded further, h.- ,Atsll-41
detail the present state of the ut.fuuded rL bt , f the
country, in addition to the fit. (I.d d, lit, ,t,„l the
situation in which it would re romit, r t,„.

rangetnents of the present year were, %tooled Hp.
The 'mount of the unfunded debt was about
4000,000/. which was provided for by votes IS
Supply in the present year. The tots% rion-aid of
Exchequer Bills soled this year, was 44 boo,oocd,
and of Irish Treasury Btilsj payable in Jot Brat,
4,400.0001.--emalitiqr a total of 49.0,10.ett0t.
—lle proposed to replace to. to by s grant of
20.000,0001. of Exchequer Hills —e further vote
(4' 16,000,000/.—and 2,500.000 t f Irish Tre.i.my
Bills, which the Bank of helm(' were molly tri ex.
change, This would tuck- the total s.no unt of lb..
unfunded debt 33,500.000/. which, corn!,arel with
the sum of 49,000,0001. now existing, elie4i.ti a
diminution of' 10,500,00011.

It was 1113 intention to propose to the House tlrit
the sum of 3,000,000/. to be raised by tux...,
should be applied to strengthen the sonsolidateil
fund. and to defray the interest and charge of the
Dian of the last and of the present year, ta "Melt
that sum would he nearly equal.
The interest anal thaw of the Lose of last

year, .ere
Of the present year

Mekinf
Exceeding the sum ut

By -2,a00
The !um of 3,000,0001. would he appropriated to
meet the charge o•f the two loans—mutt, as it was •
wutter of account, it was not very• material titA
the utsproptiationrhould be eitactly baietticril. The
produce might be thrown ou oue side or the tlthyri
wit hou t inconvenieuce.

He now came to the source of taxation. The
consolidated customs formed the first heed. It etas
impossible for him to go through ell the itr ir.. f
which it was composed. particularly us a belied.:
had been drawn up which would give Gent'eine,.
the fullest information ou the subject. The
material increase of duty, he had already stilted, • .9
on foreign wool. This was a tax of very eoiroder,-
ble amount. All the others were very minute in
their rates—and the produce of the whole might to!
taken at 600,0001. a year. In such e variety rr
articles. some would, of course, produce more, aii.l
others less than the estimate; but he saw no
to think that the whole would nut fairly amount
to the som that he had mentioned ; and, whether
some produced more, or others less, was trio mate-
rial, as the whole was to be thrown into the gei,e-
rid mass of the consolidated fund. The articles cf
minute detail would, when the schedule was print, o,
be submitted to the consideration of every Member.
The schedule would show every variation of rate—
for, in some iustances. the duty was reduced, in
oilier., it was increased. He mentioned on a ti.!-
mar night that a considerable portion of the in-
creased revenue of the present year would ini,e
from a transfer of the collection of certain custom 9
to the Board of Excise, by whom, in future, t!,i:
collection of particular duties would be (iodide-if.—
(Heor.)—With respect to chocolate mid cocoa-init..
the ditty on them was, in future, to he the same
that on coffee. This alteration was chiefly rti,cltd
in consequence of memorials which had been re-
ceived from the plantations. The remaining am.
' cies were tobacco, coffee, tea, and pepper. Wit:,
'respect to tobacco, the present duties varied zreatly.
American tobacco paid a custom duty of 99. per
lb., Spanish and Portuguese Sit., and West India tr.
To this was superadded a heavy Fdicise duty. It
was intended (as we understood the Right line.
Gentleman) to raise the duty to 4.. per 111. on
Cation tobacco, Cis. 60. per lb. un all foreign te-
bacco, and Gs. per ib. on all foreign snuff. He pro-
posed to raise the duty on plantation coffee, which
was now 71d. per lb. to Is.; on East India c,.11.4.
from I Id. per lb. to Is. W.; and on foreign
from 4s. 414• to es. 6d. The duty on griper.
which was at present Is. bold. per lb. it was Vo-
pgretd to increase to ts. Gd. The duty no
which was 96 per cent, he meant to increase by A.
uddition of 4 per cent. He estimeted that the hie
Oil toffee would produce 130,0001. the tax oil tea
130.0001. and the tax on pepper about 30,000/.
With respect to the transfer of the collection of
customs, it would. in the first place, save a vrry
considerable expense. which was now iricorred try
the existing system of management. The
of all the officers employed iu this bril, .11 4.1 c6,-
toms would be saved to the public—Wei/1)-1'c'
sides. it would afford a most essential enurement
to merchants, He did not know uoy thing a f
which persons in trade complained more Luui y'
than the multiplied trouble which they elicoutOrni .
iu being obliged to „go to several
places. and pt various hours of tile day, iv
transact the same description of hirsute-, --
A third advantage, unit a very material one,
that the adulteration of those articles aim h "tPe
stoat subject to tricks of that kind, would
a greeter chance of being prevented, When they
wells pieced under the superintendonce of one Lodi,
instead of being removed from place to place.
these different 'grounds, it appeared most desirable
that this transfer should take place. One of toe
items from which be expected to derive • coin
siderable amettat 101 wall an 11.1Criew.rd
dilly on malt. He had . stated, oo a former
evening, is bia'seneml vamp that be espeole4 kt