The British Press; or, Morning Literary Advertiser.
London, England, 1824-02-24 00:00:00

THE BUIRIET.

The ;louse resolved itself into a Committee of the whole House
on the Four per Cent. Act, on which

The CHANCELLOR of the EXCHEQUER rose and spoke
to the following effect :—1 have, as the Committee will now per-
ceive, taken the earliest opportunity of opening the views enter-
tained by his Majesty's Government en a subject of so much Ins.
portance as the state of our finances. In time of war it is not al-
ways practicable to notice them at so early a period of the Session,
because of the varying chances and circumstances which arise and
prevent our being able, with accuracy, to ascertain what may be
precisely necessary. In time of peace, however, no such difficulty
occurs, and 1 think the Committee will agree with me, that it is
not only becoming, but necessary, to put the House and the Coun.
try in the earliest possession of the stare of our finances. (Hear,
hear.) By this means the House will be enabled to exercise a vi.
gilance in their expenditure—to mark, with a constitutional jealou-
sy, which I by no means dislike, any abuse which they may sus-
pect—and be enabled to enter into • detailed examination of the
expenditure and revenue. I feel that hi following the MUM I peci-
ended in last year I shall be actiny in conformity with the wishes
of the House, and, I may add, with a considerable degree of satis-
faction to myself. Acting on the same principle, it is my Wen.
tion to give the fullest explanation of the state of our finances, and
of the manner of their expenditure. I shall proceed, first, to state
the revenue and expenditure of last year, and then furnish the ani-
mate of the revenue expenditure, and surplus of the present year.
I shall then call the attention of theWlttee to such observa-
tions as may grow out of the state of in which my expiate-
thin will leave the diffbrent branches of revenue, expenditure, and
surplus. By a document already on the table of this House, it
appears that there wu last year a surplus of . 6,710,000
From which it will be necessary to deduct (set wide
for the gradual diminution of our debt) . 6,000,000
And this gives an available surplus If . . 1,710,000
The estimate I have now to present is as follows :
Customs . . - 11,630,000
Excise
Stamps 6,1100,000
Assessed and other Taxes
Post I Mice 1,160,11110
Miscellaneous

Making a total of 51,263,000
To that I add a portion of the
A u.trian Loan paid in this year - 1,500,000
And the amount to be paid by the C,oatrae.
tors for military and naval pensions - 4,620,000

Making a grand total of - - - Z 7,325,000
Haring so far stated the amount of our income, I now proceed to
lay before the Committee an account of our Expenditure. First,
then, time is
The charge on the Con sc: idated Fund, and the
SUM pawl for interest and management of
our Debt - - - - - - 27,973,1913
The interest on Exchequer Bills employed to
pay back the accommodation afforded by
the Consolidated Fund - 100,000
Permanent charges for Civil List and Pen-
nuns . . - • 2WO 000

.
Half-pay Annuities . • - - . 2,auc.eso
The hiakitg Fund - - - - - 8,134,458

Giving a total of
Deducting this from the amount of Revenue 117, 383,0 o)
And the surplus at this end of the year dill be 1,052,076
And on the last yeai added to this, the total
surplus will be - • - - 2,714,000
I have troubled the House with these details, in order to put the
matter fairly before them, and without any observations which
at present Ido not feel to be necessary. In making this state-
ment, I must beg the Committee to compare the revenue of
this year with that of Lust year I calculated the revenue in
the Customs at 111,500,0001., not taking any sanguine view of the
subject, but at the same time indulging in nothing which I thought
might not be realised. Such, however,' has been the inrrease of
our foreign commerce--such. the effect of that free and liberal sys-
tem of policy (hear, heat) adopted by this House. and by them de.
termined to be forwarded, and of which I may say I was always an
humble advocate—such the constant and increased consumption
prevailing in every part of the country--auch altogether has been the
progress of our general improvement, that I MA state to you with
a proud satisfaction, that this breech of the revernie has produced
no kw than 1100,00111 L (Hear, hear.) I flatter myself that that
ONO of things is likely Its continua, and it affords me an additional
reason for thinking dial the liberal policy we have conimenced will
shuedandy testify its prCprist,--its necessity. The Enloe amnia
of the revenue does not exhibit exactly the same result. But if it
has Men asset of me estimate, it has not done so without my be.
big able satisfactorily to account for it. The deficient*, bow.
ever, has not arisen from a deficit consumption, whicit bas
es the contrary ineresaed, but from other causes to which lAA
directly advert. I estimated it at 111,000.000 L, and thejittsgadu'l
°apt has only been 26442,0001., the difference arising from SIM
circumstances which I did not then sufficiently advert to. In de
first place I omitted to state that there was a temaining sum to be
paid on the stock of malt then in hand, one payment of which
dissented to 130,0001. In addition to that, owing to the state of
distress prevailing in many parts of the country, where hops were
the Government postponed the collection of a part of the
tyinank the consequence was, that the amount calculated at
'My realised 47,0001. The Excise also suffered from •
masers paved in the course of last year--a measure which I shall
always revert to with satisfaction, as productive of lasting benefit—
I allude to that relating to the distilleries in Ireland and in Scot-
ia/4. I then stated it was my intention to propose an alteration,
✓ely, a reduction of the duty, but I could not then say pre.
Maly to what extent it would Ito, and I did not therefore state
dishes incurred by it. It is obvious, however, that so great a
=l could not take place in that branch of the revenue—not so
In Ireland and Scotland as in England, as nut to produce s
tamperary loss. One of the great objects of that measure has
been effected, the destruction of illicit distilleries (cries of
" Bear, hear, hear") ; and I think I may build upon that
fact, Mat though there be a present loss of revenue on
that head, . that it will be amply compensated, not by the increased
consumption of spirits, which I by no means wish to encourage,
but in the certainty that the duty will be paid ; and if that be the
case, the revenue will suffer no ion. Last year there was • lois,
but as a matter of prudence its amount was not precisely stated ; in
feet, it could not be satisfactorily ascertained. As that measure,
however, ',regresses, the revenue will recover. Such, then, are the
reasons that the Excise did not amount to the estimate of last year.
On the whole of the Excise very few articles decreased in consump-
die j and in fact, the quantity charged with duty
.exceeded the
average of the three preceding years. In various articles there was
• peat excess—in beaks, tiles, glass, hides, coffee, Itc.; in hops
there was not ; but hops, as every body knows, is a most fluctu-
ating article, depending, as it must do, much on the contingency of
tbs weather, and the last year was particularly unfavourable. In
malt there was • diminution, which I can scarcely account for, as
IN bar there was a considerable increase of charge (Hear, hear,
sly Issemer); and therefore one finds a difficulty to account for
lbs Is. se malt It may perhaps arise from the different periods
of porimme, or the length of credit given in the collection
of the tax, or by the state of the barley harvest, which
was last year not so low as it was in preceding years. Upon
paper there was an increase, and upon printed goods; upon salt
a very large increase (hear); and upon soap and starch. Upon
British spirits there was a decrease ; but there was an increase
en frith hnported into this country. There was also an increase
upon sweats, foreign spirits, tea, tobacco, snuffs, vinegar, and other
articles. In short, oo the long list of excisable articles, there were
only four on which there was any diminution. The general in-
crease was by no means accidental, and indeed, I may say, looking
at the sources from whence it has been derived, that we can eon&
dimly look to its cestieFos, if not to its further increase. On last
sat as owes she yeani.pseceding ; and cm this,
we
weer that of MS, iodiesting, as Wes stated in hit Neje'.
ty'a mat gracious speech from the Throne, a state of unexampled
peasperity. In the last item of stamps I estimated it at 10.00.000
cord the receipts were a 1,000.000
TM Taxes, Assessed and Land, I took at 7,100,600
and the receipt has only been 6,100,000
Des Men there was the large reduction from the assessed taxes made
hut year, which I by no means grudge, in consequence of the bene-
fit it has confaved : last year I took the miscellaneous estimate
at _ _ . £600,000

This year, in consequence of toe part repayment of
the Atutrian bran, it Is - 2,100,000
On that topic, before I proceed further, I beg to address a few
woods to the House. When the subject was last fully discussed, I
Wave there were very few who expiated that we would ever receive
any portion of it ; and it is but fair to ssy, it was • question not of
very easy adjustment. In legal right, it is true, we might sell the
bends of his Imperial Majesty ; but yet, considering all the cir-
cumstances which occurred since that sum was borrowed, I think,
in equity, that it would not have been fair in us to have pressed for
the full amount. His Britannic Majesty's Government, however,
were snore sanguine on the subject, because they knew that the per.
sonal honour of the Emperor of Austria was concerned to bring it
to an adjastment. We knew that we had to deal with a Sovereign
of whom, though many hard things have been said in this House,
I can say that a more honourable and n,ore virtuous Monarch does
not sit upon a throne. He has the ‘nisfurtone to govern in a coun-
try whose institutions are despotic, and he may not always Se able
to avoid sets incidental to such a form of government, although in
a free state like this they would not be tolerated. But he telt his
personal honour was concerned to satisfy this country. There wa,
great difficulty in executing the scheme. The Austrian Finance
Minister was not anxious to hand over a large sum, which must
have pressed up= his resources, and which at the genie dominant
have ban any thing but a nowise act in that country. This trans-
action, therefore, I say, was highly creditable to the Emperor of
Austria, and a God.aend to our Treasury. (Laughter.) I shall
now proceed to state the thoughts which ai Ise upon the finances of
the year. I take the Customs at 11,5.50,000 L, bring an increase dt
50,0001. over the last year. Ido not wish to be too sanguine, bilk
I fairly anticipate, from the consolidation of the customs of the
parts of these islands, a saving of 50,0001. a year on that part of the
expense arising from the collection of the customs. This saving is
one of the happy fruits resulting from the appointment of that Com-
mission, who have executed the arduous ditties entrusted to them
with a degree of zeal, vigilance, and effect seldom equalled. I shall
take the Excise at 25,625,0001., because no further payment will
take place in malt, and because I anticipate no loss upon the hop
duty. Without then overrating my expectations, I shall take
The Excise at .C 25,625,000
Stamps . 6,800,000
Assessed and Land Tax - - . 5,1 00,000
(which, before the great reduction, was 7,510,00014
Post-Office - 1,460,000

Making a total of - . 38,984,10111
The Customs I take at - . - 11,80 ,080
Miscellaneous . 710.1110
Foe the Austrian Loan . . 1,5011,0011
Naval and Mtiitary Pensions - 4,620,000

Forming a grand total of - 57,38.5.000
Leaving a surplus of - . 1,0511,000
I shall not make any remarks upon the sums already voted by the
Committee of Supply for the army, navy, and I shall hope the
same result for the ordnance, as every reduction has been made in
those establishments consistent with the efficiency of the different
Nervier". I have already adverted to the Austrian Loan, and I
should hope that the House will not object to a portion of that sum
being expended in covering objects not of ordinary occurrence. It
will be remembered that a tew years ago an Act was passed autho.
riling certain Commissioners to apply 1,010,0001. sterling to the
building of churches. No man, I think, will deny that that was
a great and important object ; it was not at the time seriously "-
posed, and at all events it was 'auctioned by a very large majority
of the How. Such an application of money was right ; the trust
vested in the Commissioners was faithfully executed, and it was at-
tended with great advantages, inasmuch as it furnished the people
in the humbler walks of life with the means of at:ending the na.
tional church. I believe that much still remains to be done In that
way; and, as no object is more fitting for the consideration of the
Parliament of a free and religious country (fur I may mealy call this
country so), I trust still further benefits will be extended to the
people at large. I shall therefore propose a vote of 500,000
pounds for that object. (Cries of " hear, from Mr. Hume).—
I know that after the opinions expressed by the Honourable
Member relative to the Chore*, such a vote may not have his sup-
port ; but notwithstanding what he says, I am sure the House will
agree to it. There is another object to which, I confess, I think it
would be desirable to apply a portion of this money : I allude to the
improvement of Windsor Castle. (Hear, hear). I believe the
people of England love monarchy ; I mean a constitut.onal mo-
narchy ; and that they take such pride in maintaining the real state
and dignity of the monarch, as that they will not feel anything in-
consistent with their interest, or repulsive to their feelings, in giv-
ing a portion of this money, obtained under such circumstances.
to the embellishment of that venerable structure. I can assure the

mii%House
at
el
evisenntio,
regwitinotoczwiensinaste mozpeausy. Illandow,ithozwed.) nags.
the Government that abandon was necessary In the building, and
that the domain encircling ft should be enlarged. There fa no dew.
ger that any of the money Id. be thrown away t and I haw tau
state, that it is the express desire of his Majesty that Chia peril.
cure should not be contingentLawmedef -the Owleament.
It was the intention that din emesititaisamewsis.
sion, of which commission all Inn ;7r, Xst Ass ether
persons to compose it will have .no refers** whelp" Media par.
ties dividing this House, but that such persons ell leLL=styl
as will discharge the trust reposed in them with sit. .
The *um which I shall propene foe this object, .
150,0001., and a similar sera over tbe awl Poem in yarn
1 100,0001., and in 11t26, 50 MN. Abopther, will be
300.0001 Another object al attention lies_wkhile Ow ifillpeinclide
which I have joie stated. in the last Scot n, lOsnsii.
sions on the grant of.the King's library, end a. sr its
reception, there prevailed a general feeling, thee, la talbsing
circumstances of the countfy, we ought not to le. is this
promotion of the Fine Arts. As a mere mean many that
may be some objectio.e; but looking largely at die monwoodosk.
ing to the Fine An. as dignifying man's nature, I think h light,'
consistent with a great and a free nation to promote them by every
possible means. l'here beingekho a fund of
,a peculiar nature on
which the Parliament may call, withont causing any burthen
to the people, the Government felt, that when a collet:nolo of pie-
tures was offered to them, motires of a high and liberal policy
invited them to take advantage of it, and an t was
Dade to purchase the collection of Mr. Angerstein far fifty-aeven
thousand pounds. 1 have Dot sidenbt that if we had a astional
tleerize would soon have a valuable coincides and I know
is swer a high-801nd d potentie ho le
likely. to cogs his splendid enlanlection, which will, I hope,w noon
find its way into any receptacle for tteasurs of that description,
and I trust sinoerely that so enviable an example will be tteaevally
followed. Every Englishman who then gases on the works of art,
will Doe ark then as the rifled plunder of' pilfered paean or vie,
hued altwa. (Crier of " Hear.") For the erection of such a in.
lery, I shall propose a vote of 60,0001. These are the three items
for which Government intend calling on Parliament to vote out of
those special resources which I hose already mentioned. If the
House sanction this expenditure, it will null leave a surplus of
2,7511,0001. for 1821. Before I state the views the Goventment take
of disposing of that sum, it is my duty to brim under the consi-
deration of the House, the special matter on width the Committee
are nnw sitting. bitch is the mate of public credit, that it baa con-
siderably reduced the interest, of money. In the present state of
our internal and external relations, I know of no vtsible or invisi-
ble grounds fora pprehending any interruption of the general trait.
quillity, and we feel it our deny to avail ourselves of that low rate,
for the purpose of rediseing the higher rate now payable on the
public debt. I allude to the Four per Cents., the amount of which
is about 75,000,0001. The course I mean to pursue is this : but I
must first state, that as the law stands, it differs front that in whicbt
the Fives were placed, for it was competent to us to do precisely an
we have ddne; namely, to give notice that all persona who, at the ex-
piration of four weeks, did not dissent from the option of receiving a
Four for a Five per Cent. stock, should be liable to be paid WI.
That operation was easy, as is was a dissent, not an assent ; and
everybody knows the result. In the case of the 4 per nnts.,• no-
tice of six months Is necesaary, and the consequence would be, that
no person was to be paid before that time. If the principle °rea-
gent were applied in this case, it Would be impossible to know what
amount of money it would be necessary to pay off, lithe hoiden
did not take the new stock. I therefore purpose to give notice of
my intention to pay off all holders of 1 per tents., except In respect
to those who, in as; weeks after notice, shall consent to receive 10,1
in the 3* per cents. in place of the fours. I shall suppose, told, 6y
way of illustration, that one-third of the holders assent, thimble
millions would remain to be rind off, and I should propqn to Fayette-
third of that in October next. If no assents, then one-third of the
whole to be paid, which would require 25 nillliona,and o 0 en, in the
proportion of assents, which might come down to &hoist sixteen or
seventeen millions. I shall also give an option to those Mkrannit
to receive a 3) per cent. stock, with a proviso that they are not
to be paid off-till after the esptration of five yews from October
next ; thus plating the old kid new holden in the moo situ-
ation. It is hardly to be supposed that an option of this sect
would be accepted, unless accompanied by some advantage, which
advantage 1 take to consist in this.-that the stock will not be paid
off for 5 years, which is much better as a bonus thee • sum of matey
nominally added to the stock, for that would be attended with a
disidtantage I do not wish to incur, namely, the increase of the
funded debt. With respect to holders' of Four per Cents. not
in the kingdom, they shall have a proportionate time to give their
assent. If the whole Four per Cent stock is enoverted into a new-
and-a-half per cent. stock, or if it be tire! off, there will be as an.
nual saving of 375,0001 I must sow the House to aceempsity
me beyond the present year, and supposing peace to centime, kr
show them how we are likely to stand in 1827. It is horawdbis kw
me to calculate with mophetie precision, but if we roman at
and continue woo on-as-we have dose, we shall dad a
increase of revenue at that period. If we should be loWnel •
war, I have no doubt, whatever our resources, even net ea
them to be so flourishing as I expect, but that the
would appeal to the public spirit of the country to vindicate Its hit-
now. (C nes of " Hear.") I third it advantageous to 100
tively to our probable situation, for If we proceed on sous.
' pee,;, I have no doubt that we shall find our resources in a Most doe.
nshing condition. I shall not now go at length into the details. bee
I am prepared to give every explanauon whenever I am called wen
It will be my next &Wriest% to direct the attention of the Hanle to
some of the means by which die revenue Is intercepted in Its pro-
gress to the Eiehequer. There are certain bounties now in exist-
ence on particular branches of the rational industry, which have
been granted either because at the time they were deemed requisite,
or because the interest of the parties engaged in the pursuit was
urged with more than ordinary effect. I allude particularly to the
bounties which will expire this year and the next, on the whale
fishery. My Right Hon. Friend, the President of the Bond of
Trade, concurs with me entirely in opinion that they are wholly
unnecessary and useless. (Hear, bear.) Fifty thousand pounds a
year, though a large sum in itself when compared with the detail of
that fishery, could not be considered as necessary tons continuance.
It was too small in proportion to the general expense to be of ma-
terial importance; and, as I do not wish to see this exploded syso
tern continued to all eternity, I shall not propose to renew them.
There are other bounties which can be dealt with sum.
marily • -those on the cure of herrings and fish of differ-
ent kinds. When our herring fishery was behind hand in the
world, It might have been advisable to encourage it by a
bqunty, but now it cannot be necessary, when we have a con.
siderable exportation of hen ings every year. We have now paned
beyond our ancient rivals the Dutch, not through the boanty, but
because more attention is paid to the trade. IVe have thendase
now a fair chance of meeting any of our rivals in the market of the
wield. The bounty may be suffered to die a natural death without
any apprehension that our fishery will be injured. The country
will enjoy a benefit of 700101. from the cessation of this bounty.
There is another class of bounties, which, however satieded I may
be of their inutility and general inipolicy,—those I mean on the ex-
pectation of linen—must, I feel, be touched with a delicate hand.
If we were to approach them otherwise, we should, I fear, excite a
strong feeling in Ireland. The people of that cannery expect that
Parliament should do whatever reason points out as likely to pro-
mote the staple manufacture of the island. It is unquestionable
that one of the great causes of the lamentable condition of that
country is, that its population are in want of employment. (Cheers.)
The greatest good that-could be effected for that country would be,
to insure the application of capital to its nssaufactures But while,
in deference to their prejudices, I touch these bounties with tender-
new, I cannot, nor ought I, to affect to abut my eyes to their utter
inutility to promote the objects for which they were originally im-
posed. (Cheers.) We ought not to disguise, that if we give a bounty
on the exportation of our manufactures that exceeds the amount of
the duty 1' vied on the raw material, we invite other MIMICS to
tax that material to the amount of that bounty. (Hear, hear, bear.)
The result therefore is, that we tax ourselves for their benefit.
We must not hope that the relit of the world will not see their in.
tents as well as we. No course could be more absurd an foolish
than that of bounties. Its direct tendency was to induce fo-
reigners to impose on our produce a burden equal to ow bounty.
(Year hear.) lam convinced In every instance it does more hewn
than ;rood. I am disposed, therefore, to recommend, that the
bounty of 7d. on linens of inferior quality should cease immedi-
ately, and that the bounty on the higher species be gradually re-
duced, suppose 111 per cent. on each successive year, till it cent al.
together. This will effect a saving of 100,0001. a year ; and lam
satisfied that the reduction of the bounty will do a positive good to
those manufacturers who I ern inclined to apprehend look on the
bounty as essential to their *ell being. With regard to excise
stamps, there will he a specific increase of revenue in proportion to
the increased consumption, but on the produce we cannot calculate.
It is desirable not to risk too much in a matter of such mo.
mertous importance. I now proceed to the expenditure of the
years Itt26 and 1827, respectively. 1 am not desirous of pre-
senting too sanguine a view of our resources. I know it is
said the Chareellor of the Exchequer can produce any result be
may like. hut I hold deception of that kind to be, at the least, a
very foolish policy. ( Hear, hear.) I will never pursue it. (Cheers.)
la 1825, 1112 h, and 11027, the expenditure will, I presume, be the
same as in 11124, allowing for some reduction of the miscellanies
oarisingpensions
t portionlron santhdaothfdmouerrec.rp:eysenfpeotrriclofthi:euolfseere,wwwhiiihcoihchhwaviitlel landou
servedr to
dutytah edi diminution
no: toi'nr ouunitti.:dyne.
Of course Parliament will every year exercise its control, and de-
termine what shall be the expenditure. On the presumption that
it will epee with the view a: have taken, the result will be a sur-
plus to this extent on each of the years:— '
In Ith-d - - .Cl.7lo,nsi
1824 - - . 1,052,1116
11125 - - - - 372 :118
!led - - - 177,348
1827 - - - - 522.316

Leming, at the expiration of 1827, a total
surplus of - - 4,135,099
'laving arrived at this satisfactory result, finding that we shall have
this surplus, next comes the question what shall we do with it?
think we can do a great deal of good with it. lam sure we ought.
and I have no doubt this 'louse will readily support me in execut-
log that right purpose. The moat obvious mode ol Jailing with

4
r

this surplus, would be to allow it to go In reduction of the debt.
That would certainly be the most natural and obvious couniethet
would OCCUT at the first blush of the subject to every man rho con-
siders it. But looking at the state of the revenue, and the conic-
'menet' that have resulted from the accumulation of such an amount
of tmetion as this country labours under, I think, on reflection, it
will appear to be the obvious duty and policy of this house to t: ail
itself of every. opportunity to revese that system of taxation, and,
as far as practicable, to place the commerce and genera industry
OnOnVninit of die countryarathat if it should be sovietised by war,
'we dlould be found in the best stele of preparation to meet it.
(Cheers.) I propose, then, to make use of this surplus by atm.
inenciagailystem of alteration in the fiscal and commercial reettlee.
Sans of this country, which will, I think, be attended with itn.
medilite benefit, and which, if trimly adopted mid steadily pursued,
mowid leave us, at the termination of the next four years. In a still
More flourishing cemdition Mien now. (Cheers.) The first article
ke, which I shall allude has already attracted the notice of the
'Wake. 1 shall not propene to do a pestered, but as much es cir-
•turnstatice• will allow. At an early period of the Session, when I
stowed the lineal vote, that a certain annual duty be granted of
foreign marts, a question mole as to the duty on rum. The lion.
-911lOnfienefor Bristol and Aberdeen urged me strongly to mince the
Wets' In nOnOntnenCe of their opposition, I myself pmpreed, as ant
41Illecearnete; that the vote should be postponed. I did not then
Ventedet meted( ad liberty to state what I intended to propose
yf is *millet. 'Nor if the duty on rum was to he reduced, eel I
' think the mode recommended by those Honourable Gentlemen the
beat rite- attaioing that object. I considered it would be more ad.,
Thimble to reduce the terminable duties, and not those which are
voted annually to meet the supplies of the year. It seemed to me
rot to be consistent with my duty, either to give an opinion
toyed!' or chew one feint the House. I therefore withdrew the
vote. It is now my 111/LOW* to propom the reduction of the per-
manent duty on rum, and thus to relieve that article from one of
the peculiar difficulties under which it herours. I do not intend to
propose- to reduce the duty lower than that on the spirit made by I
the British : but it appears to be only a matter of propriety
Mel fakeer; to put them both on the same footire. For that put.
pore I pretense to reduce the duty of Is. I'd. on rum, and thereby
make the nominal duty the same as on British spirits. There are.
I ant aware, circumstances in the mode of levying the duty as to
proving the strength, which will prevent the reduction front opera:.
mg to precisely the same extent as in this kingdom ; but the AVest
Indians mere recellect, that, besides the duty on spirit., the Bri.
tish slidiller is also liable to the malt duty. (fleet, hear) I think
this matter may be considered to be fairly helmeted, and I have no
doubt that the reduction of the duty on rum will have an impertant
effect on the &salines in that erticle. But if it should not, it will
be gratifying to this If mire to have adopted the muted principle.
It Is desirable always sot at the sound principle, even if no int.
get
mediate benefit resulted from it. While we act upon sensed prin.
ciples we can never go far wrong. (Cheers.) It is proper that the
agriculturists or eloaien, and the West India islerses, should have
a fair opportunity of coming into the market. Their peculiar and
priming warts justly entitle them to it, is well as the general prin-
ciple, which oueht never to be overlooked. (Cherie) This re-
duction will cost the revenue about one hundred and f:fty thousand
pounds. The next article is one respecting which we have heard
a great deal during the prevent Session. We have had a discussion
upon it to-night. The worthy Alderman of the City of London
reestel it 'smugly upon our attention, as it was tioural he
mould, a:widening bow much the intcreats of his constituents are
affected by the tax ;-1 allude to the duty on coals. ((ivens.)
It Is necessary that I should fully explain my views on etis subject,
• as it may otherwise be naturally *opposed, front the mention of the
duty in teak, that it is my intention, all at once, to propose its re.
Iprid. That is rot my intention, and I will explain why it is not.
t wrens to me that at all events, under present circumstances, the
objections that have been urged by the Honourable 3lembre for
Staffordshire, against the repeal of this duty, ought to hare sonic
weight with this House. I will not go so far as to say that, be-
emu, under the existence of • particular duty. certain interests may
have grown up into importance and magnitude from the effect of
that duty, therefore, under no circumstances, would I touch that
euty, because its reduction might sdeei these interests. 1 hope we
shall take care, whets vs e are once diem dwelled front the consequeeres
'o.• this proem, never to enter upon a lar one again. I trust we
shall never get into such difficulties again (hear, hear); but we are
in them now, we have been so for a century, and it is rot wise or
prudent, or even just, to deal with existing interests rashly or
suddenly. It would not be compatible with any principle of fair-
ness or propriety to abate then-tall at once. I cannot therefore con-
sent to proceed to the full extent of the sanguine expectations that
•tere entertained on this subject. But as it appears that the duty
• iftbsseieeery unequally on extensive portions of the community, and
with peculiar and aggravated severity on the inhabitants of the city
of London, I intend to propose that the additional tax of Is. 4eL
per chaldron on importation into the Port of London should be re-
pealed, leaving the inhabitants of London burdened in common
with the rest of the country, to the duty of six shillings. Though
I feel some difficulty as to the removal of the whole tax,
yet I feel none whatever in censoring toe aggravation of evil
suffered by the people of London, and 1 cannot therefore he.
'skate as to the reduction of the duty of Is. 4d. on the sea-
coal brought is o London. Another reason why I interfere to
that extent, is because a return to sound principles is involved
le the alteration. At present, while sea-borne coal is charged a
duty of 9s. ed. per chal. than is a restriction on the introduc.
Cm of inland coal by canal. No coals can be conveyed down the
liver Thames, except under a duty of 10s. per ton or chaldton, a
• elute which in fact amounts to a prohibition. By the lirarel June-
ten Canal they are saddled with a duty of es. 6d. per ton, which is
the same in effect as Its. as per chaltiron. There is further, a
restriction that only 30,000 tons of inland coal shall be imported
iLto London. I propose to remove this absurd and unmeaning
restriction. (Loud cheers-) There tan now be no reason for
continuing it. As long as seaborne coals were saddled with
a heavy tax, the coal-owners might say, " You ought net to
expose us to the competition of the inland coal ;' but if we
kive the coal proprietor of the North redress to the extent of or.c-
-" third of the duty, we are bound, in regard to the interests of the
• consumer, to remove all the absurd and useless restrictions by which
he is oppressed. (Cheers). The moderate duty that is left may
be neatly borne. (Hear.) I am quite sure that what passed thus
evening will tend immediately to diminish the power stated to
:exist in certain individuals, and by which they contrive ingeniously
to enhance the price of coals, and stint the supply of the market,
according to the measure of their own interests. It is our duty to
way to the consumer—" If you cannot get coals on fair terms horn
the proprietors in the North, we will give you an opportunity of
getting them from another quarter." I shall therefore propose a
reduction of the duty on London coals (hear, hear.) As there will
be art increese of consumption both of the sea-borne and inland
.coals. I do not calculate that the loss to the revenue will amount to
100,401. I shall venture to confine the assumable loss to 100.041.
1 now approach a part of the question that relates more directly to
that free and liberal system of policy to which I wish particularly
to call the attention of the House. There are various branches of
'our trade encumbered on Use one hand with high duties on the
Importation of the raw material front abroad, and on the other
counterbalanced by another set of high duties, to prevent the ex-
portation of the native material. Amongst these branches of our
Valle, none suffers more than our woollen manufacture. The duty
an foreign wool is fled. per pound ; it was originally Id. The pre-
sent duty was imposed in 1319. not as it has been, in my opinion,
51 ecerrectly states!, by way of protection for the wool grower sit
'hence, but for the purposes of revenue. lily Noble Friend (the
'Earl of Liverpool), who is at the head of the Treasury, explained
it most distinctly in muse interviews he had with the clothiers. lie
told them minced—" You lime no right to object to this duty so
long as the produce oldie wool growers is confined to this country."
And be added, " If you will consent to remove this impolitic re.
stnction on the exportation of British: wool, we propose the repeal
of the duty on foreign wool." This cmumunication led to some
movements in the manufacturing districts. timings were held,
and resolutions parsed. These was some difference of opinion
ettnongat the manufacturer's ; some thought that the removal of the
'dory would be hat j benefit. than the removal of the restriction
would prove an evil. They preferred thet the matter should be
left as it was. They refused to accede to the proposal for its al-
teration but a deeded majority of the woollen trade was coneirced
that it would be henelicial to their interests to agree to the cont.
'promise, by which the duty was to be reduced, on condition that
free exportation was to he permitted. I feel bound to nay that I
cannot see what reasonable objection there can be to this
course. It is part of my plan. therefore, to reduce this duty
nf lid, to the original Id., and allow a free exporta:ion of
British wool, on paement of Id. also; and thus sweep
away an endless train of statutes of resteictiona, petvaltios,
melts aid Heaven knows what ! (Cheers.) The whole trade will
1. put on a footing meta beneficial both to the grower and manta.
fecturre, and none of the apprehensions that are entertained of the
opposite effects supposed to be likely to arise from the attention,
will happen to either; and I firmly believe that the consequences of
'the extension of our weol!cn trade to every quarter of the world,
cannot but be highly beneficial to that interest which supplies its
re* material. (Cheers.) I hope and trust, therefore, that I delll
be supported by the (louse. The lois to the revenue, I anticipate,
be about 3"0,000L a year. The next keit to which 1 stall
call the attention of the House, is also of paretionint importance
'in this view of the subject, because it relates to the removal
s merle inns from th^ made in silk. (Hear, hem, hear.) in
'this MAI ties is a b'gh dm on the raw material, and a reed-
'live prohibitiou of U e firemen manufactured areckse For years
.pest it has been agreed I y all our ablest statesmen, by our nom
Mikan writers, and by all men of sense and relies:Oen, that the
Makitenatute of this e)stem of prohibition is extremely impolitic.
We hare made a certain progress in removing it. Are we to step
short? if we do, will not foregisers say, that what we hare untie
has been for purposes of delusion ; that while we ^mem to lore
laved principles of commerce, we hate them in our heart ; that
while we cajole them to admit our manutacturee, we rigidly es.closie
'theirs? (Hear.) Whenever any foreign n Anon excludes any article of
our mariu factures, my Itt. Hun. Frienei, the Persistent of t lie !loud of
Trade, its immediately assaulted with a numerous besly of memorials.
urging the interference of Isis Majesty's tiovernmeut in every ehipe
uf reninnstranoe and complaint against the exclusion. (hue Am-
humidor is then instructed to state the grievance, and demand re-
tails% Ile urges the damage drat the British interests haveeus.
Word, are the apparent unfriendlieess of the Act. What is too
often the avower? •• How can the British nation exeect un to ad-
mit their manuthetnres, when they refused to receive ours ?" The
Anahmosior returns discomfited, if rot ashamed; he finds it ion-
-possible to refute this organise:llmm hmnierms. The foreigner
believes that all we have dote is to delude him: that we act upon
a studied 'chorus of hypocrisy, becalm we know there is no sound.
near in rl:e principles we profess. !t is our interest, and our duty
so convince him that we are decree. 1 believe that practiadly as
well as abstractedly, tifose principles are sound, and that we ought
to lose no opportunity of carry mg them into effect. Ile should in-
vite fweignsertn to join with us in cutting the cords by which corn-
IllbeTet is bboouund to the earth, sod set her free, to carry her blessings
'to every earner of the world. <Cheers.) 'When we are in such a
estate that we Late large 113/50 of active capita/ in scare!: of arty

(means of expending itself with profit and safety. we hare the finest
opportunity to emancipate ourselves from the antiquated prejudices
Iby which we are oppressed, and make a new start in the race or
wealth and prosperitr. Bull have otherconsiderations, independent
of a mere commercial nature. It is perfectly well known, that after all
the prohibitions we have enacted against the importation of foreigo
silks, guard and fence them as we may, they are every day evaded. I
remember last Session, when the honourable Member for Aber-
deen displayed his Bandana handkerchief in this House, and, after
'Wowing his nose, with great complacency returned it to his
povket. (A laugh.) I reminded that Hon. Gentleman, that any
. Member of this Ilonse,aecording to law, might have takco posses-
sion of his handkerchief and exported it in a foreign country. ( A
laugh.) But his conduct was a practical illustration oC the utter
impossibility of preveatiog the introduction of these contraband
ll'hoever has watched the arrival of passengers at the
ports, must have seen a number of females landing from the boats,
of a most comfortable coepulency (a laugh) who, in a slurp time,
contrive to get delivered of their burdens and return to the natural
grace of their native figures. Their is no end to the ingenuity of
I the devices by which these laws are evaded. It is not of the mere
evasien of the law that I complain—it is of the fraud, the per-
jury, of every had moral consequence. In this class of offence% we
have a
ateprogeies itinowninni. A man begins as &sunsuit? ; he ends,
perhaps. as timinal of atrocity. Nemo reacale fait torpissi mar.
'the inducement at first is perhaps only to snitim,4e a piece of silk,
to make a present to a female friend : the action, in Itself innocent
and laudable, is by the Legislature rendered a crime. Once accus-
tomed to violate the law, he is induced to go a step further; he
takes a false oath ; he becomes familitrized with perjury ; he finds
,that his crime out be turned to advantage; he extends his smug.
gling to gloves, shoes, and silks; he makes a good deal of money;
he enters on more desperate transactions. We are obliged to have
a nary to prevent them. I Hoar, hear.) The smuggler is in danger
of being taken; he mina ; a battle follows, and blood is shed.
(near, hear, hear.) And after all, the British manutheture is so
well established, that ft does not need this false and fanciful prio-
r tection : it could drive its rival out of the market without such
assistance, if the repeal of the prohibition of foreign silks was scram-
' pried by a diminution of the duty on raw silk. In every point of
I view it is our interest to promote the most liberal principles
lof foreign commerce. Let us throw down the hollow gilded idol of
inuk:4rwv protection, and establish on its basis the statue of com-
mercial hherty. (Cheers.) The raw silk comes principally front the
East Indica. and the mention of that part of the world suggests to
me other advantages that world rest+ from this extension of the
principles of free traae. An immediate beneFt would be conferred
upon the East Indies. There are some singular and peculiar cir-
cumstances connected with the present state of that country. The
origital staple manufacture of ]rakes was cotton. mid from the
cheapness of labour there the fines fabrics were matte and se-t here
lin great quantities. This mantifaeture has howev:r hero sup;r•
seded by the power of our rapine] and machinery. There can be no
doubt that this must have been a severe oneralion on the unthrtu-
I nate persons whose livelihood depended on their deb our: tied it has
been more apparently than really beneficial to that country. for
nlintever tends to contract the weans of the East Indians must
be prejudicial to the trailers of this roomy, with whom
'they must have the Inks to expend. With a view to ease
'them, therefore, I propose that the duty on silk from the
East Indies he reduced from 4s. per lb. to .lid.; that the duty on
silk from l'hina and Ind be reduced front Co. ad. Per
and that the duty on silk from Brasil be reduced from 14s. Illd.
per lb. to Js. rid. I shall further propste that all the prohibitions
of foreitnonuinufactureil silk goods be abolished fur ever, and that
a ditty uc substituted instead on plain silk goods in the piece 15..
per lb., on figured goods IN. per lb., and on all other silk
MEI per cent, ad valorem. I shall also propose that shoes and gTdonveas
be admitted, on a duty of :co per cent. ad valorem. In the detail
there may perhaps be mime variation. but this will be the substance.
I calculate, that the loss to the revenue, hum these reductions.
sill amount to about 462,111101. I will not trouble the House with
the detail. The total decrease of revenue from duties to be repealed
will stand thus:—
Bum .
Itondon coals

- . . . - . I .11 000
. - - - - 3.54.000
. . . . - 462,000

The total annual loots will be . 1.1162.f100
If that suui is multiplied by three, to arrive at a knowledge of the
loss of revenue during the years 1825, lti.'B, rand Iff27. and half as
much added fur the loss to he sustained in 1821, there will be total
Ittss on the four yea's, of 3.717,0001. If that total loss be deducted
from the total surplus which I have before stated, the result will be,
that the difference at the end of 1027, will be a small balance of
41t ,01.101. of surplus.
Total surplus during the four years . 1:4,135,00e
Total loss during the same period . 3.717,000

Balance . - . - 418,000
I will take this opportunity to state the law tespecting the duty on
salt. It has been represented to me that no bentfit is likely to Sc.
true from the cessation by law on the sth of January next, of that
portion of the salt duty which amounts to two shillings per
bushel. It is impressible to suppose, that as to the consumer
any sensildc effect will be felt in the diminution of the price of
salt, and I ant nut prepared to deny that there may exist reasons
for not carrying that reduction into effect. But I ant afraid the faith
of Government is pledged to its abolition. (Hear, hear, hear.) If
it should appear that no evil would accrue from the continuance of
the duty, it would be only a matter of alight difficulty to find an
article on which the same amount of duty might be remitted, by
way of compromise. Ido not state this AS part of my plan ; I
throw it out only as n suggestion, in which shape it reached me,
from some quarters not friendly to Goveroinent. I pledged myself
to call the attention of the House to it, and I am bound to say in
candour that Government would not oppose it. The House has
now heard all 1 have to say on the subject of my plan. After a re-
duction of taxes during the last three years, to an amount of up-
wards of eight millions, the House has now proposed to it a further
remission of upwards of one million and a half. (Cheers.) I have
used the utnurit care andattention in looking at the subject; I have
so framed ray proposidons as to meet the best and moat essential
interests of the country. and it is with a high feeling of gratifica-
tion that I look at the country in the state of prosperity in which it
now stands ; with an increasing revenue, with a reduced taxation,
and with a debt gradually reducing (cheers); increasing in wealth,
powe-, and influence: wealth, the produce of a mound policy and
considerate legislation ; power, not to be abused for purposes of
ambition and aggiandixement, but prompt to be emplaced in the
vindication of us honour, and the maintenance of its security; in-
fluence, not proceeding from blustering or intrigue, but the .result
of the conviction of all other countries of the sincerity of our pro-
fessions,and the honesty of our conduct; (cheers) the inevitable effect
of that growing wealth and power of which we are proud, because
they have been known only as the test of the steadiness of our
friendship, and not as the menacing instrument of hostility or
rivalry. (Loud and continued cheering.) I do not arrogate to
Government, still leis to myself individually, the merit of
bringing the country into this situation. There are many in this
House entitled to share it with Ps. (Cheers.) I will not refuse them
justice; but it is not for any is d viduals, but for Parliament, that
1 claim it (Cheers)--for that calumniated and vilified Parliament,
which, in the clays when the people were under the pressure of se-
vere, but, as it now app.esouteciTorary distress, they were told was
an assembly so vicious in its very nature and construction, that it
was irnposieble. unless the whole fabric was turned topsv turry,
that it could contribute to raise the country from its difficulties.
(Loud cheering.) We now see the practical refutation of this ca.
lumpy in the state of the country. We have the proud aatisfaction
to look abroad and see a population smiling in plenty, nail, as I
anon hope they will be, in the unrestricted animation of their Indus.
try. A% e behold them in content, comfort, prospecity, attd order,
hand in hand, issuing from the portals of this ancient and cousti.
tat tonal in.maichy, dispensing and enjoying the inetiuusble bless-
ings ef their lot_aa happy, a united, and let us never forget, a
grateful people. The Right lion. Gentle Man then sat down, amidst
very loud and long-continued cheering from all parts of the house.
The L'(IANCELIA)II of the EXCHEQUER use again, and
his fresh resolution was proposed the Chaimian of the t'otnntittoc.
(The noise width at this moment prevailed in the House pre-
vented us from beating the substance of the Right Honourable
Gentleman's resolution. Indeed the commencement of the stare-
RICOt of the Hun. Gentleman who followed was not heard, from the
sante cat se, ia the gallery.'
Mr. BAR ING expressed his general satisfaction of the course
pursued hy the Right Honourable Gentleman. Ile owned that he
much doubted if a statement more satisfr.etory in promise had ever
yet been made to Parliament. It was no doubt the result of no mis-
placed reflection; it had been considered maturely, and therefore it
would be in him great presumntioti to attempt regularly to reply to
iv elabotate &statement, to offer arc opinion, or hazard any eriii-
eism upon many of the topics of which the Right Honourable Gen-
ileerisn's speech was composed. He owned, however, that lie
thought the last subject upon which the Right Honourable Gen-
tleman spoke deserved much consideration, and upon that point lie
must take the liberty of 'nuking one or two observations. As to
the Right Hotiourable Gentleman's plan of linance--for it certainly
might be termed e novel systenn,---aa to that pl.n, then, be must
take the liberty. of saying, that lie considered it erroneous. lie was
quite sure, however, that he W 45 1111450USIT solicitous for the credit
of the country, and that the error to which he was referring had
escaped the attention of the Bight llonourable Gentleman. The
Hight llonoticable Gentleman m-ile out that he had a surplus on i
the last and the present year of 2,70,0001. Then upon that sur.l
plus he most erroneously formed his estimate of the surpluses
of future years. He estimates the surplus of—
I - at £372.3.111.
. at . 477,348.
11127 at - 622,346.

and toe to cif all the surpluses, beyond the expenditure,
iu ounitd to 4,135,11t1'11. Upoa that statement, the Right lion.
Gentleman called upon the Flouse to approve of his liberality, and
finial!), admitted the sacrifice of 1,6-'O.OOOl. When in addition,
as ha proposed, the Right Ihri. Gentleman took of the duty on
ends, to the amount of 2e0,0100L he feared that the liberality of the
Right lion. Gentleman was not quite countenanced by reawn or
r,f.ectirn, for the House would presently see how the matter stood.
But he would suppose for a moment that the C•tiMeC of the Right
lion. Gentleman was correct, he took off one million of taxes, _
causes great and unusual surplus had waren, though that large
increase was derived from the payment of the Austrian Loan, and
therefore there existed no Krnianent cause to justify such a redoes
titan. The surplus was purely accidental. It was not one-half the
atuou:4 of the taxes he proposed to take off: It must, he would
venture to wets, appear evident to any one who had followed the
figures of the Right lien. Gentleman, that there was no surplus on
which it was safe to found the proposed reduction. If any system
of this sort were found to fail, and that it were known too to have
orit,inated with the Finance 31inistcr—n have been recommended to
Parliament by the Minister, how deeply must such failure afliaa the
credit of the country ! With respect to the Rank paying 141 the
4 per cents., the Right lion. Gentleman had said, that using to
the state of the law. six months notice must be given, ant! in
October he proposed to give such notice, wider whiny, let the

House rerhernber, the Government were liable to the payment of
73,11Uff.00111. old four per cents. The notice was, that they should
be paid off; unless within six weeks the holders agreed to take the
I amount at par in the 34 per cents. Now he was exceedingly de.
sirous of knowing what the Right Hon. Gentleman had done at the
same time for the payment of Exchequer Bills. If the Right'
Hon. Gentleman, as he proposed, reduced the interest on the 4 per
cents. the Fours woulE be held as Exchequer Bills, bearing the
4 per cent. Interest, and thus a species of rival fund would be esta-
blished. Upon almost all that has been said by the Right Gentle-
man as to the removal of restriction he entirely concurred with him.
They had already done away with the coast restrictions, and there-
fore with the greater safety might they dispense with the other part
of an artificial, and now, at length, a very generally reprobated
system. On that difficult topic, the introduction of foreign menu-
tactures, he scarcely felt disposed to oiler any opinion. Ile would
nooti, lestviowtionn on ttieropr
Tr, eoncealpthietayt, abstractedly speaking, there could be
n
of the proposed measure. Ile owned,
however, that he should have felt great pleasure in hearing from the
Right Hon. Gentleman that some reciprocal understanding on this
sitbject had passed between this country and the continental powers;
but independent of that point, he was by no means disposed to
assert that scund policy did not justify the intended measure. The
silk manufacturer, however, had a moat serious interest in this ques.
tion, The same duty was still retained fee the raw material, to the
manifest disadvantage of the manufacturer of this country. There
ICU one branch too of the silk department, to which the mind of!
the chymist of France had been actively and successfully directed,
and in which their superiority over the manufacturersof this country ;
was quite decisive—he meant the art of dying. The colours of the i
French silk had never yet been approached for beauty, and bril-
liancy, and permanency, by the most skilful manufacturer, of,
England. L pon the general topics of the Right lion. Gentleman's
speech no one felt more gratified than Lniselt. He thought, how-
I ever, that some explaration should then be given on the reduction,
founded, as he had conceived it, upon an erroneous estimate. He
must however say, that he extenienced much pleasure in finding,
from the speech of the Right floe. Gentleman, that which he
always expected to hear, that public credit was a sacred thing, and
no less sacred than secure in the flourishing finances of the coun-
try. Indeed, it had never yet been invaded there • occasion_;
ally the hums of a senseless mob had lauded a proposal which
had for its object the violation of public faith ; but tt was the merej
ebullition of a momentary thoughtlessness, and would never find
an echo in the responses of that Howie. The Country Gentlemen
must now ace, that by the operation of this public credit there comes
to pass a reduction of the public burthens, and consequently a •
beneficial interest to than. Recovered, as they were at length,
from the distress and confusion of property consequent upon the
late ear' they must now see that reduction was only to be effected
by slow but unerring advances, and that effectual relief was thus to
bresilministerrd, and a solace in this way alone to be found. fur their
lime; sod unary immuring. Let it not, however, be forgotten that I
ion, however beneficial, was no justification of the means I
by wh:ch the ruin of so many families was effected—that it was no
excuse be the paper curreecy, which, with its various calamities,
W 3.1 by ina.iy a suiferer ; and though they were so far re-
covesed front the einsequerces of that pernicious system, IA the I
Committee remember that it was at the expense and the fortune of •
many a nian, who, from presiding over his productive farm, was
reduced to the melancholy necessity of breaking stones on the road
that surrounded his. former fields. (Hear, hear.) The confusion of
property—the ruin of fon:lies, had been engendered by tampering
with the currency, and he trusted the bitter lesson it had taught ;
would never be forgotten by tile Government. lie meant nut to go
further into this quegiott. 'The difficulties which had occurred to
him he thonght it right at once to subunit our the explanation of
the Right Hon. Gentleman.
_ .

Tpe"CHA NC bLIAHt of the EXCHEQUER was called upon,
he turd, to intrude for a few moments upon the attention of the
House. in replying to the-questions proposed to him by the lion.
Gentleman. He felt very much obliged to the Hon. Member titr
Taunton (3lr. Daring) fur giving him an opportunity of affording
these expltrations. In satiinating the amount of the revenue during
those years for which he bad ventured upon its anticipation,
be had not assumed any increase of any one article either of
Customs or Excise, though there had last year been a reduction of
assessed titses. (In the other hand, us to reduction of expense—
tbe reduction, for instance, depending upon lose of lives—he had
not colealated iu these esumates. He had assumed that both the
expenditure and revenue would stand exactly as they did now.
In all probability, from the increase of revenue and diminution of
interest, the revenue would be iiercascd and the expenditure dimi-
nished beyond the respective sums lie had venturing to assume ;
and it was only in the event of war, that must of neesmity overturn
these calculation', that any alteration was, in his opinion, to be
apprehended. In such a case Parliament would of comae be hound
to see whether 6r not there was a necessity, by a rigosous effort, to
make up for any deficiencies that might arise. He felt convinced
that the calculauons he had made, now that they were rendered in-
telligible to the lion. Gentleman, would no longer seem to him
exposed to the fluctuations to which he scented ta think (from the
basis on which they were founded) they were liable.
Mr. BARING +mance& the Right lion. Gentleman that he bad
not misunderstood him ' • but he could not help thinking that the
Right Hon. Gentleman had placed the country in a very perilous
predicament, from which his explanation had not at all relieved it.
Suppose a war should arise after notice given to the holders of the
Four per Cents., what was to be done in such a case? Instead of
keeping up a large floating fund, it would he much more advanta-
geous, lie conter.ded, to reduce the debt of the country.
Mr. ELI,It'E said that he should reserve his opinion on the
general topics connected with the speech of the Right Honourable
Gentleman for a more convenient occasion. Ile was exceedingly
desirous, however, of asking him one question, with reference to
a-subject that had on that evening been brought before the
House. The question was one in which he. as the Representa-
tive of the principal town in this country for the manufacture
of silk, felt for his constituents much interested. The Right
Bon. Gentlemen stated, that he intended reducing the duty oil
silk inunediately. lie awed as to the expediency of that reduc-
tion, and his only question was as to the time when it was intended,
to carry it into effect. He certainly lied strong hopes from a com-
munication win, Iv he had, not with the Chancellot of the Exche-
quer, but with the Board of Trade, that any immediate reduction
was rot contemplated, and for this reason—the stock in hand would
very greatly he affected by such a reduction. The Committee was
aware that silk rose at lead seven per centime duty, ad volorunt.
Indeed, at this moment, the India sale being just concluded, the
manufacturer was now prepared for his Spring consumption. He
submitted, therefore, to the Right Hon. Gentleman, that it would
be advisable to postpone the reduction of that duty, so as to •afford
time for the employment of the raw material subjected to it, also
for the consumption of the stock on hand. This measure would
certainly prove most advantageous, and he sincerely thought not
more advantageous than just to the great portion of his consti-
tuents.

Mr. MA BERLY understood the surplus of the revenue for 113 V
to be more than one million, and so far he agreed with his Hon.
Friend the Member for l'aunton, that the payment of the Austrian
loan made an essential difference in the surplus of the year, and
could never justify the reduction of !..xes to the amount proposed.
However, he must say that the Right lion. Gentleman had dealt
fairly with all his subjects—he had not anticipated an increase in
the revenue arising out of the reduction of taxes. lie agreed that
he might most reasonably have so calculated, and for Itimselt he
had no doubt that considerable increase would arise to the revenue
from the reduction. It was not, however, without regret that he
found the sating of 23,5001. disregarded by the Right lion. Gen-
tleman, a saving which could be obtained by placing the duty on
malt, and removing it front beer. This would at once do away
with frauds, be a gratelbl boon to the peasant, and do away at
the same time with those restrictions which were deservedly so die.
agreeable to the Right Hon. illentlernan, and open a fee trade.
There was another subject on wkielt he would not cease to express
his dias:tisraetistt_—be meant the payment of 5,000,11001. more than
was neers.ary to the Bank in their successful bargain with the Go-
vernmeeat upon the Naval and Military Pensions Bill. This was
indeed one of the moat happy PpeCiIIICIIS ever yet discovered in the
art and mystery of bungling. In looking at this as a great question
of finance, it was impossible not to be struck by that loss, and if ,
the papers which he moved for a few nights since were then on the
table of the House, he would convince the Members of the Com.
ntittee that by snaking that bargain on the Ist of March, instead of
on the 2d of February, a sum of 1,694,0001. was lost to the country.
And more : if the Bank of England had carried their well-planned
bargain into execution, the country must have lost 13,000,0001. by
the disinterested achievement of a Finance Minister. He confessed
that it was quite incomprehensible to him how a person who
could come down as the Chancellor of the Exchequer fled
done to the House on that night, and make so able a statement,
could have been so completely benighted on that occasion. Indeed
there was but one way of actounting for it, namely, that he had
deemed it becoming not to warder fur soma time from the batten
track so long pursued by that miserable financier his predecessor.
An 1111.11ton/her who sat beneath the gallery, and whose natnethe
most diligent inquirers in vain attempted to discover, said that he
merely rose to make souse inquiry respecting the duty which it was
proposed by the Right lion. “entieusan to place upon inland coal
carried up by the canal to London. There was a second inquiry
he was desirou► of tnakirg, as to the disjunction in the Four per
Cents. lie understood the Right Honourable sJendemen at first to
ply, that instalments of the 7.1,000.00ta1. amounting to one-third of
that tuna, were to be p►id off. This was his first impression. He
had since, however, reason to believe, that 26,000,0001. was to be
paid. Ile wished to know in what manna the selection for that
pay nt ent was to Ire made?
__............._
.. .
._

The CHANCEI.LIfR of the EXCHEQUER said, the Hog.
Member for Coventry (3lr. Ellis), alive to the interests of his re-
presentatives, had toted at what time it was intended that the
reduction of the duty on silk should take place. Ile proposed no
specific finte, fur his mind .12 by no means determined upon that
which the Honourable Bleu:bee Inv. Coventry had very justly repre-
sented as a most important determination to the manufacturers of
silk. • At present lie should say on the Lth of July next, xon-
ceiring that the interval between the present time and that
day would be sufficient to enable the manufacturer to dis-
pose of the stock on hand at this time, without pecuniary euf-
tering. At the %ante' time, if "upon further consideration it
should appear desirable to postpone that reduction, he should
yield at once to -the general washes upon the subject, as his
only anxiety was to establish the principle. With respect to the
error dwelt upon by the Honourable Member for Abingdon 31r.
3laberly), of taking an exaggerated surplus, it unquestionably was
true that the payment of the Austrian Loan tended to the increase
of that surplus; but in the operation of that loan, extraordinary
expenses were incurred to the amount of 8,110111. There were also
some expenses pouliar to this year of a miscellaneous nature, and
they have been inevitably incurred. The expense, previously to the
introduction of the coin of this country to Ireland, in putting down
the tokens of that country. amounted to 100,411091. Then there were
certain claims America had upon this country, relative to the
emancipation of some of her slave, which bad also been satisfied.
So that the estimate was taken at the highest imaginable expendi-
ture. As to the question proposed to me by another Honourable
Venilenien, Respecting the patpthed duty on cu;d3--the duty he

proposed at present in Ireland, would amount to Is. a ton, which
wastabout Is. 3d. per chaldron ; but if, upon minute considers-
den, they saw any reason for altering it, they were by no means
pledged to that particular sum.
Sir I. COFFIN considered the continuance of the oppressive
tax upon salt, a severe lesson to the poor, since it taught them that
dirtr necessities were disregarded, while the 'unities of the rich,
who wore their " silk and semis "sy," were preserved and guarded,
and every tax that militated uetunst their splended habiliments
was at once to be repealed.
Mr. ELLS felt much indebted to the Right lion. Gentleman
for the explanation that he had just given. If hr now understood
the Chancellor of the Exchequer, all that he desired was to esta-
blish the principle of a repeal of the duty on silk, and that he
would be willing to hear the parties before he determined upon the
precise time when that reduction was to take place.
The C.:HAM:ELIA/It of the EXCHEQUER (..cross the
table)—Eettsinly.
Mr. ELLIS continued—There was one question proposed by
his Hon. Friend, to which the Right Hon. Gentleman had not re-
plied. It was as to the selection of the four per cents. for pay.
melt. Ile (Mr. Ellis) understood they would be paid pro rata on
the amount of stork. The operation, he thought, would have been
much carter had the reduction of the interest on the four per cents.
not taken place, but commensurate, in point of time, with the re-
duction of Exchequer bills. He thought that the progress of the
Right Hon. Gentleman's scheme would very much be impeded by
this omission. The lion. Gentleman concluded by observing, that
it was not to the plan of the Right Hon. Gentleman he objected,
but to the possibility of carrying it into effect.
Mi. J. SM ITII was principally induced to trouble the House to
notice one item, which was of the utmost importance in the cata-
logue of taxation—he meant the great and disproportionate tax
on law proceedings (hear, hear); its imposition, to its present emir-
tnous extent, was a tax upon justice. It was discreditable to the
Legislature and to the country that this species of Impost should
continue. Recent circumstances had brought him to the more
immediate consideration of this subject; and he hoped the Right
lion. Chancellor of the Exchequer would not overlook so heavy a
branch of our taxation, which pressed with peculiar weight on
;the laborious classes of society. independent of the pecuriary
pressure, the expense incurred by law proceedings tended great* y
to injure the moral habits of the population. It was a well-known
fact that no man could recover 31. ltis. in a civil action at law with- '
• out incurring the expense of 31. 10s. more, in the cost of stampsake.
Many cases were thus obliged to go undefended, in consequence of
the poverty of the person liable to the action, and his consequent
j inability to meet the charge in a Court of fraw. To a person so
situated the lialature simply said, that he was a very tit subject
to pay 31. 10s., as he could not afford as tench more for recovering
jor defending it. These charges were very oppressive in the Courts
lof Common Law, but they were felt with peculiar severity in
I Courts of Equity. Soule time ago he had occasion to tile a bill in
Chancery, which took up several thousand folios. 31any thousands
of pounds were frequemly expended in suits there. lie begged to
state an instance of the profuse expenditure occasioned by these
heavy and.prieracted suits: it as in the recorded case of " Roe v.
tiodgeon, in *Web the pLaintifi filed a bill to oblige the defend.
• ant to give in a stateim3it of certain accounts, fhe defendant
I put in an answer, in which lac stated, that were he to do so it would
; entail upon him an expense of no less a stew than 29.0001. This
answer was deemed satifactory, and the Chancellor directed the bill
:to be dismissed. lie did not intend at present to go into details, '
; but it must appear to the How, that the duty on stamps was ex-
evasive, and was a mttrh fitter item to be selected for reduction
than several of those taxes. the repeal of which VIM proposed.— j
The reduction of this tax was of the utmost consequence to the
laborious classes; anti indeed he did not know of any princlple
I which it would be more desirable to carry into general practice for
the benefit of all elastics, than that of rendering justice cheap.
An eminent writer had defined justice, as connected with law, to j
I" that strict security which every good Government gars to
! every subject fur the protection of all their rights, their property,
character, honour, and life." It was therefore necessary that such
I a blessing, intended for all, should be administered to all, on fair
• and reasonable terms. But it wits notorious, that in this countrr,
by the operation of the stoup duties, no person couldso to law who
was not possessed of property. Justice was so adinillistered, that I
no person could have it but at a heavy expense. Hedid rot know how
a man could well go to law with a less property than 3001. a-year.
Under such circumstances no person of common sense would go to
law who could possibly avoid it. It was a well known fact, that
whenever a person went to law, those around hint predicted of him
that lie would afterwards go to gaol. (A laugh.) The distress
and misery which, by the heavy expenses, was imposed on the
labouring classes, was productive uf the most demoralizing con-
aeguencts. In many instances, those who sought reparation for
injuries found themselves by the result in a worse condition
than when they sought relief. It had been objected, that if the
law expanses were less, a generally litigious spirit would prevail
througout the country. This he denied. Thesuddcnly dispens-
ing with all law expenses, might produce such an elect, but
the gradual diminution of them to a fair and reasonable stand-
ard, could not fail of being productive of manifold advantages.
Ile was sure there was not a member in that House, who had
arrived at the age of thirty, who had not made considerable sa-
crifices of property merely on the account of the heaviness of law
expenses. It had occuurred to himself to waive a claim he had.
merely from such an apprehension. It was contended by some
that public credit was not useful. They who entertained
this opinion did not well know the state of society. Ile would
mention the instance of the advantages of it : a fanner, whom he
knew, lent 2001. to his neighbour in a time of great distress ; it
was not paid precisely when it became due, but the whole of it
was
i repaid at the subacmtent harvest. Ile might mention many
other nstances of the advantagea of public credit. lie could nor
sit down without expressing his surprise, whilst such hard-
ships existed from the contffittance of these stamp duties, at the
preposed appropriation of 500,0001. for the building of churches :
and a large nun for the improvement of Window Castle. This
he would certainly oppose, as a large sum had been already appro-
priated to churches. Such s sum would be better disposed of, in
his opinion, in giving relief front that species of taxation of which
he complained. It approached almost to sacrilege—he would not
use a stronger word—to expend the public money thus unnecessa-
rily, when the people were in a state of wretchedness, said burdened
with a tax which amounted to a denial of justice. Mercy was
better than NaCTIIICC, and there appeared to him something like
cant in all this. ( Hear, hear.) It was true that this tax was pro-
ductive of money to the Treasury, but it was productive of great
misery to the people also. Ile hoped the Chancellor of the Ex-
chequer would attend to and ascertain the mischievous operation of
this tax, and suggest sonic relief for the severity of its pressure.
(Hear, hear.)
file CALCRAFT agreed with his lion. Friend that the expense
attend nt on law proceedings were excessive ; that they were pe-
culiarly oppressive on the laborious dames of the community ; and
that they were injurious to the interests of justice. Ile perfectly
coincided in the propriety of relief in that branch of taxation. He
had listened to the luminous statement of the Chancellor of the
Exchequer, and lie was of opinion, after having attentively heard it,
that the proposed reductions were not such as the country had a
right to expect. lie was particularly induced to rise, in order to
refer to the duty on salt, which, last session, it was agreed upon
should cease on the sth of.lanuary, 1/135. lie hoped the Chancel-
lor of the Exchequer would redeem the pledge he had given on this
subject. Indeed he knew the Right lion. Gentleman was not a
man to abandon any engagement which he had entered into ' • but
he knew that there were many who would surround him, and
en-
deavour to induce him to continue it. These persons, however.
were such only as were interested in its continuance • they were j
not the consumers ; and he had ever stood up against the misrepre-
sentatious of those who are self-interested, and in favour of these
who were not so. Ile assured the Right Honourable Gentle-
man,
that there was not one of the taxes, the repeal of '
which he proposed thaz evening, which would he more
useful or generally acceptable than the repeal of that upon
salt, as proniked last Seaxion. As to the repeal of toe duty on
wool, he agreed with the Right lion. Gentleman is the principle
of reducing the tax upon wool ; but he feared the condition with
which he accompanied it would give dissatisfaction. The oral
duty. in his opinion, was selected, mid he thought judiciously, tnr
affording relief. It was a hardship and injustice on the inhabitants
of London to have an increase of taxation imposed meetly on at-
COMA of their accidental residence. He approved of giving every
facility to the introduction of coals into London, and was of opi-
nion that they should have them on equal terms with the popula-
tion in other parts of the kingdom. As to the silk trade, he thought
the competition to which the Right Hon. Gent. exposed it would
be ruinous to that branch of the manufactures of thus country ; not
but if the mode which he proposed were accompanied by a re-
ciprocity, or some equalising dirty, it might be less injurious. As
related to the raw material the repeal was judicious. But what
appeared to him would give most dissatisfaction was, that up to
he doge of the year Inn, no further reductions were meditated.
(Hear.) The Right Honourable (hock-man had made a lu.
niinous statement ; but whatever might be the amount and
surplus arising f.on the taxes still continued, the country
was to look forward to no further repeal of taxation. This
was certainly a most disheartening prospect. (Hear, hear, hear.)
J The Right I lonourable Gentleman hail appropriated all he expects
to explained purposes, but nothing that lie had said embraced a
plait for any intermediate reduction of taxation from the present
period to that which lie had specified. Ile was decidedly adverse
to the appropriation of 500,01104 to the building of churches. it
should be remembered that one ntillion had been lately voted foe
that purpose. Let us see how that sum operates before we ina ease it.
There was not, that he was aware of, a tlemand for that kind of build-
ing* now. As to the sum for the improvement of Windsor Castle,
if it were warranted, he would admit that it was well applied, and
when the size of that Castle, end the extent to which repairs might
be necessary, he was not prepared to say but that the sum specified
for the improvements of that extensive edifice were such as were
soluble and appropriate. As to the tax upon rune he coincided,
and he was sere the country would do so, in the propriety of its re.
peal. If' he entertained any opinion upon the subject, it was that
the repeal proposed by the Right Honourable Gentle •nan was too
scantyl and was not sufficient to meet the necessity that (misted for
relief n that branch of taxaCon. As to the stamp duties, he felt
as be had said before, that it was doe to the interests of justice, and
particularly testae laborious classes, that sonic diminution ahoy id
take place. So far from objecting to the repeal of the duty on nine
he felt that the body which it was intended to bcnetit by it were
peculiarly entitled to the attention of the Ileum, and he would not
even object to the appropriation of the 3e0,0001. proposed for the
building of churches tor the relief of that body. He was of opt.'
niun that the country would be greatly dissatisfied with the pros-
pect which the Right linrourable Gentlemen held out, disappoint-
ed as to the extent of reduction he proposed, and beyond which he
did not mean to go. Unless we fostered the energies id the
.people
in time of peace we could not expect tc use them eflictently m time
of war; and we should ever recollect, that whatever may he the
wisdom of her government, it is upon the earn and head of her
people that the safety and greatness of Etiglarsl must nusinly de-
pend. (Hear.)
The CHANCELLOR of the EXCHEQL'ER said that there

was no sentiment in which he more cordially agreed than in the
last which had been uttered by the Hon. Gentleman. Indeed, he
had anticipated it by expreseing • similar one in the course of his
address. As to the several taxes, to the repeal of which he had
adverted, he knew it was not an easy matter to determine always
which was the beat to take of or put ou. Ile had proposed relief
in dime branches of taxation which appeared to hint most to re-
quire it, and which he thought would be productive of most ad.
vantage to the individual interests themselves, as well as the gene-
ral interests of the country. He enlgfit have been in error, but
lie begged to say that the principle which regulated him in what he
propneed was that of making such redueriont noir as would carry
with them the means of effecting other reductions. (Hear, hear.)
Mr. BROUGII 4 M agreed With his Hoth'Priend (Mr. talcrafri
lin the expression of disappointment at the project ler the reped of
taxation, which had been submitted that night to the House by the
I Right lion. the Chancellor of the Exchequer. In saying so, he
did not mean to convey the slightest dinecapect towards any thing
that had fallen from the Right lion. Gentleman, to wheat very
. luminous statement he had attentively' listened. From the altera.
tion of system in various branches which he proposed, advantages
might accrue, but so touch depended on the mode in which plans
were carried into effect, that he was unwitting to give a hasty ap-
proval of them, or to commit hiro.elf by the sanction of men:,
• without further consideration. Besides, as had been remarked b
his lion. Friend, the 31ember for Taunton, the propositions which
, had been submitted that night in the statements et the Hight Hon.
Gentleman, however they may have been well weighril by his Ma.
. .
testy s Ministers, were perfectly new to his side of the House,
IGovernment had long known them, but Parliament had not, and
therefore some pause for consideration should be allowed before
these plans were fully sanctioned by the Legislature. lie would,
however, express his approbation at the repeal of the bounties on
whale-fishing and linen. Although these here productive, and
yielded no less a stun than 170,0001. yet their repeal was most de.
suable, and such as was prompted by a liberal spirit of esernmereisl
policy. V . Vet in that, as every change, and in every commercial
regulation, the manner and the form in which reform took place,
was that on which expected advantages mainly depended. }luck,
too, depended on the time in which the change was introduced ; it
was necessary on such occasions, that due notice should be given to
those who wire interested in the various branches of commerce and
manufacture in which alteration was intended. He apprehended
that when the plans conveyed in the statement of the Chuneellor of
the Exchequer were made publicly known, great alarm would be.
created, and claims for indemnity would be preferred by mane
whose property in the Stocks might be injured by the propped
changes. Should such claims be preferred, he hoped this House
would discharge its duty in exercising a vigilant caution, and in
keeping • tight hand in any disbursements it would make on the
representation a such claims. It was a misfortune that it was not easy
isolative a bad system which had been long pursued, and to trace out
a good one withoutinfiieting local and topical injuries. In finding our
way out of errors in which we long had moved, difficulties would
so doubt arise; and in such event it was the duty of the Legal.
tore, after having determined upon "'hat reform was most available
the the good of the whole, to support the Government in ef.
effecting and enforcing it. In adverting to the several repeals of
taxes and appropriation of revenue as stated by the Chancellor of
the Exchequer, he would not particularly dwell upon the camped-
don in the silk trade which was opened, and which, by the repeal
that accompanied it, might not be without its advantages :
neither did he deem the partial repeal of the duty on coal,
nor any of the other points to which he had referred, of pera.
mount importance to the circumstance of one million and fifty-two
thousand being the whole amount of the fund to which the
country could look in the event of any exigency that might arise.
The aunt of ahr,euttl. which was to be appropriated to purposes ef
buildings and improvements, might, with more propriety and ad-
vantage, be devoted to the augmentation of this fund. With se
small a surplus fund to inert whatever emergency might betel it,
it would not be an nelesmate consolation for the country to know
that a few articles had becoeie cheaper in price. As to the repeal
of the duties on silk, he would ask what advantages would the la-
barite's classes derive iron it; it was an etude in the purchase of
which they did not deal, and the advantage, of this repeal would
•be felt by the upper Classes of society. l'he duty o rum
another tax, the repeal of which was proposed ; this was a rep-,
however, for the benefit of the producer, and roc for the ante-
ater ; for his part, he looked upon it as the repeal of a duty imposed
on a mischievous commodity. [ls repeal of the duty the cheapness
increased the assumption, which increase was accompanied
with invariable injury to the morals of the people. It was.
he knew, contended, that high duties tended to the entourage.
meet of a contraband trade ; but he referred even that risk
to the demoralization riveted by the increased consumption of
spirits. For these reasons he was adverse to the repeal of the duty
on ruin. The repeal of duty on coals, it was stated by the Char.-
cellor of the Exchequer, affectol London and Its vicinity oi !e-
-thus this repeal was one by which a particular district was bene-
fited, but Ville!' did not contribute to the comforts of all. This
duty did nut appear to him to be one of such aggravated pressure
as appeared to imme Honourable Members; far if Louden was
the only place affected by this tee, it should be considered that
they were better üble to pay than the residents of any other
.part
M the kingdom. Such repeals as these he had now adoetael
were not likely to gratify the country or fulfill the expectations oi
reduction that had been entertained (Hear, hear.) The nation
naturally looked to a more general measure of rednetion, and net
to a few small repeals of much local and partial ben:AL The
aniseed taxes might be done away with by drawing on the
Slaking Fund whiee he hoped to see soon upon the wane, and the
total abolition of which he would be glad to see follow those princi-
ples of liberal commercial policy which Government seemed die.
posed to return to, or more properly "peaking to adopt: for he Sr.
tic: toted a better lioe of policy than Ministers had hitheno evinced
a disposition to for. we. Fur such a policy the country owed no
gratitude to his Majesty's Ministers; she ought to look upon it as
the result of anxious and repeated discussions in that home; and,
as the consequence of an encreasing intelligence amongst a daily
better-educated people —a fact to which he felt infinite eontentmeet
in bearing testimony. lie wished to advert to the mode in which,
it was proposed to expend &MOM. which we had received from are
Imperial Ally the Emperor of Austria. And here he eoula not
forbear from expressing his astonishment at the severity of the pro.
ration with which the Right Hon. Gent. terminated his eulogy on
so illustrious a personage. lie did not expect to hear the Right
Hon. Gentleman, who had Iseished upon him every expression of
honour and esteem, wind up so eloquent an enconnum by calling
his payment of his debts " a fled send." (A laugh.) And what
did he pay ? Why half a crown in the pound. (Much laughter.)
This was a bounty far beyond any thing that ever opened on the
hopes of the Right Honourable Gentleman. Though it could
be hardly expected, yet he ( Mr. Brougham) did hope for the pay.
matt of another sixpence in the pound of his debts- (Much laugh-
ter.) If it were paid, he pledged himself that he would then, as
be did now, refuse to consent to the appropriation of a single
penny of it to the building of churches. He would not yield to
any man in his anxiety to promote the religicus instruction of the
people; but he recollected that a million sterling had already been
appropriated to the erection of churches throughout the kingdom,
that that appropriation was made without a dissenting voice,
and moreover that it was paid by a patient people in the year
IBl7—a year in which they themselves were suffering under the
pressure of extreme distress. Besides, it should not be forgot-
ten that a large portion of that sum was paid by the numerous
sects of this country, although they were deprived of any advan-
tage from it, as the churches were built exclusively for those
of one religion. They contributed without a murmur, although
no direct benefit flowed to them front such a contribution, and
after having done so, it would be an unworthy return to appro-
priate this wind-fall, or, a. the Right Honourable Gentleman
had tenned it, "this God-send." to the building of churches.
for which there was no need, and by which it was still inteedel
to exclude the sects firma any participation in it. Such a mea-
sure was most impolitic and unjust, and though he stood alone
(though he knew he should not), he was determined strenuously and
pereeecringly to op it. (Hear, from the Opposition benches.)
It would be op too, he was sure, out of doors. They had
equal chdants in participating in the appropriation of this mini ;
if say doubt prevailed as to the validity of their claims, it should
not be forgotten with what cheerful willingness they contributed to
the building our chnrehes, and what we owe them for having done
so. 'Millet lie contended for an equal share in the benefit of
" ride God-send" for the sectaries, yet there were purposes to
which it app aced to him far more beneticicial to appropriate it.
He thought it touch better that this sun of moue; should be ex-
per.ded for the building of schools. (Hear.) The half million
which was to be disposed of would build at the utmost, and mak-
ing the most liberal computation, not more than one hundred
churches or chapels. Upon the most moderate plan on which the
measure could be effected, each church would cost from five to six
thousand pounds, and not fewer than twenty-five hundred schools
might be built fur the same sum on a liberal scale; and thus, if this
measure were adopted, there would not be a parish in the kingdom
! which would not possess the advantage of a school. (Hear.) If
this plan were judiciously pureued--if the manngement of it were
vested in Commissioners of a certain description, who would nut
accept of payment, the benefit conferred upon the country would be
greater than would follow from the erection of churches ; and, as he
bethre remarked, there would not be a parish in England which would
not enjoy the blessing era school. This was the opinion he ',entered to
give upon the subject, and though he would be found in it small
minority in the House, he would assert that he would he in a lm.ge
majority out of it. With respect to the salt tax, he agreed with his
friend, the Hon. Member for Wareham, that in conformity with
she faith of the Right Honourable Gentleman aid Parlienenst. it
should be suffered to expire at the appointed perpul. Ile uould
readily allow that the saving of the expense, which wasbut small.
did not constitute his only wish for the abolition of this. tax. He
would frankly admit, that the loss of patronage, which followed
the abolition, would give bun pleasure. There would be fewer
persons to pay for the collection of taxes. In addition to one mil-
lion of the assessed taxes, which was to be destroyed, he was most
anxious that two millions should be taken from the Sinking Fund.
This, he had no doubt, would Le a proceeding most important in
its remits ; it would not be attended with any diminution of re-
venue, nor would it throw any additional difficulty in the way of
commezcial retiumation, which was sought tor. He slab most
anxiously hoped for a repeal of that most oppressive system, which
ought not to be called an impost, but the proper name of which
was an enormity
.(Hear)—which was a crying injustice—which,
in direct opposition of every. principle—of every sense of duty
due by thou to their constituents, was suffered, to the shame
and dire of the age and country, not only to exist, but to in-
crease (Hear}--and which, in spite and in defiance of the sound
princip es of legielation, which had been latterly adopted, had still
advanced meant the law taxes. (Hear.) These, he was
decidedly of opinion, should be dispensed with, as well as the
window taxes, which were considered the worst of the assessed
taxes. Ile trusted that the million would be taken off from articles
which were at . present the most heavily loaded; for the cape-
, rience of past times went to prove. that the diminution of taxation
bad the effect of increasing the consumption of the manufactures :
and the courierse of the proposition followed, when, for the purpose
of gaining a supposed increase of revenue, the duties were rased.

The truth of this argume
tion of wine ; and also
the exception of the come
was fairly tried;—he With
the heavy duty was taken
Ethe consequence s
rdtTarytprihragtcoefiithiviedey,
pitoant:Ekilipite:laresoil
of the Right Honourable
in his opinion there wouli
Aprd to it, and especially
1:Mon of the taxes to be re
Ony farther at present, not
111 r. II L'ALE rose to ex
,itaternents made by the It
• %wade by him were of the
pressed his astonishment t
a time. the system whicl
titter astonishment at the
foe such a period in this in
man infanta:tithe House
that our advance was rapit
would now ask the Right
his proposition; why had
Hon. Gentleman that chat
tome forward and inform
yard when we should ad,
sanguine expectations, an,
way. He would ask the I
mot to expect a greater r
for the space of four year
of taxes for the same pejo
one class; why not give n
allowed so call our foreign
g'etterlntrefiraiV would,
measure; and upon the
flendenian, it would not c
reduce the duty on sugar
Gentleman could not wel
menus which had taken ph
also reduce the duty on
7s. 1 d.: and by this ma
mend for the purpose of
of. Frem the late regul
from Scotland to this coo
smuggling had been inern
same light with the Meet
question before the Hour
been attended to, he hopec
a million or a million am
the working classes. Tho
was the tax upon beer.
sistent with the anxiety c
make taxes fall equally ?
gentleman pasessing tire
should drink his beer for
to pay This was so
how it escaped the obsess
the people of England dei
of eight millions of taxes,
Why was there a :sink
where was the necessity of
support of our credit. T
credit of the country was I
could be procured at fro
guarent in support of the
t.f our credit, was not go
. Alinister was left with an
to be render:d available
tilt by all. He thought
traoitistring the duty on

spirits chap, and he win
it did not cause sntugglini
which smuggling was can
by tbc high rate of taxi
was reduced to Ss. or 7s
increased consumption, ti
ill was upon this princi,
ariossitag up two burden!
, m point of r !rain
the low duties on spirits •
e facility of procuring t
not agree; the lower descr
quantitim of spirits than
duties on *zits were com
'the excesses imputed to
would look to France. It
beer in this; and he w
country sober? Were the
the idea of taking the t
*Writs; more of the lute
silk. if these duties were
Abe establishments at mew
tuber branches of employ'
%hose establishments. Fo
'salts of doe Right Hon. ti
the assessed taxes shoo
of the country would
this were done, the mans

-now deserted through the
-filled. These tstalilishni
-penses of versants under
ask, took so many of the
have been novelty at or
otf. They went abroad to
repealed they would retun
squander their fortunes in
be given to many persons
be temple) td as the server
the iniquitous tax upon la
such an opposition to it,
would, as it certainly oug
who was compelled to see
but at the exper.se of a yt
of law tell on the poor,
the House, by pressing
Gentleman, would miced
if the taxis upon sugar, t
reduced, a great and unl
Country. The Right Ii
country bad taken, but
former situation, if for I
were obliged to pay at the
20 per cent. ; and this Ins
the perverseness of the lii
tale principles which he
pence in the pound, tnad
ef a debt of twenty-tin
yeses of distress and dil
and a halt had been paid.
should be applied to the I
tion of an unnecessary iest
whom this measure of bt
it could not be with the
sure the Bight llonourab
the face, and say the me
hoped it would be oppos
sons out of tea in the cot
He objected, besides, to t
was partial And unjust.
it should be for the public
he would be compelled to
atoll; be would be cm;
which he hitherto though
particular and not to gene
impartial, and that it sac
of the few. Ile asked, s
character ? He sincerely
as it deserved, and that ti
ing a sense of their danga
of relief submitted to th
and also against his select
ed ; and he . cod the
receive would impress ut
of giiittg further.
Mr. ROBERTSON it
raw material gave emph
wages. lie was astonish
opposite side, who affect
heart, and who, notwithst
the Sinking Fund. Ilefu
should look before them ;
twin of this country but t
Russia, with an army o
army of France ; they shc
they considered geese sub,
they depend upon the pr
circumstanced at present
winces if America had not
They should look hero
upon the Utsuincat w:tuld
may. It might be also ti
her the value of the
enable us to prepare for
not light ; it hail conferee
raducdon of all the taxes
:system chewed its utility
or two years, and great
how of money ; it enable
mortgages upon their hint
of sending ISriti.h capita'
good to that country i:;..n
lie would therefore ,t her
and bethought the itigic
judicious selection. in the
wan
he t
of tl
ilie
fhaali roll
rttersoVtbdi:rhill:t;narwtotiih,ae.lhetellhibee°iinhliNntlindPeleilcin:lsrTicamui°d°ytTtir
experience, known many
pees ef, by means of the
conduct M Government,
lap individuals stripy...l I
gory and ruin. As to
it to be as deeesibed ; nut
very little of the state of
41g• The poor's rate
they were the last • but t
proportion of the it.rhubtu
Other, Al to the difficult

that carried them through. As to the Parliament, was be not well
acquainted with it ? Did he not know it was the supporter of
pnnaples diametrically opposite to those of which it now ap-
proved? Mould not that identical Parliament, if, instead of the
manly, direct, straight-forward was in which the present Chancellor
of the Exchequer met the difficulties of the country—if, instead of
this. the mean, juggling, the shuffling, pettifogging, tricking
conduct, which they were in the habit of meeting in hispredecessor,
were exhibited to them, would they not applaud the one as much
as the other ? Would they not follow in the train of any Chancellor
whatever? Mu he not long enough a 31ember of that House to
know that they would bestow the tribute of their applause on the
system of any Chancellor of the hour? Did lie forget the first vote
of that House respecting the one pound notes? Did he forget he
vote given by this Parliament upon the first restriction of the Bank ?
Did he, at a later period,fiorget the support give to what was awn-
monly called Peel's Bill. As to the vote for building churches,
he would object to it, as if given it should be given fur exclusive
purposes; if given to some tt should be given to all ; this money
should, in his opinion, be bestowed upon schools. And here he
would recommend the Right Hon. Gentleman to be cautious in his
opposition, for he would certainly draw upon him a discussion re-
specting the state of the Church Establishment, and there would be
no opportunity lost of showing to the people, how much that
Church, from the Archbishop down to the Curate, wanted to be
reformed. And if the Right lion. Gentleman persevered—if a
half million of money were granted to build chnrches, the people
should see how and by whom that duty was performed. He would
therefore appeal to the discretion of the Right lion. Gentleman
not to agitate the question. Ile would not be contented with a
vote in the House, but he hoped that every opposition would be
made to so insulting a proposition not only in the House, but by
raising a clamour against it abroad.
Mr. D. GILBERT was most anxious that the tax on salt
should be suffered to expire; if this article were duty free it
would be applied to many purposes of agriculture ; in some
counties it would be strewed over the soil itself; it would be also
applied to purposes of the courser arts ; it would be used in
glazing potteries and the manufacture of bricks. There was, in- I
deed, an endless variety of purposes to which salt would be ap-
plied, and the tax, when it was small, would be amply made up li
by sn incres.s of consumption.
The resolutions were then put and agreed to.
I WO reading of the second, respecting the 4 rer cents,
Mr. BARING wished to know, as the Country was bound to
pay or one-third of the 4 per cents. in the cour,e of next October,
and as there was at present a resolution to pay twenty-five million.,
if there were many dissentients, what was to be done. The Right
Hon. Gentleman was no doubt prepared with his machinery, and
he wished for an explanation.

The truth of this argument was proved by the increased consump-
tion of wine ; and also on almost the only occasion, which (with
the exception of the commercial propositions of 1784) the principle
was fairly tried;—he alluded to the alteration of the tax upon coffee :
the heavy duty was taken off the article and a lighter one substi-
tuted : the consequence was, the demand for the commodity was
;lased tenfold, and a larger revenue was collected under the small
than the heavy impost ; and thus it was a safe and stthistantiery
good principle to take off those taxes which were oppressive and
contrary to the principles of justice. With respect to the statement
of the Right Honourable Gentleman, he was bound to declare that
in his opinion there would be a feeling of disappointment with re-
gard to it, and especially in reference to the number end descrip-
tion of the taxes to be reduced. He would not trouble the House
any farther at present, nor would he enter into details.
Mr. 111:3IE rose to express the pleasure he felt at some of the
statements made by the Right Hon. Gentleman. The concessions
made by him were of the most satisfactory nature. Ile had ex.
prettied his astonishment that the nation was able to bear for so long
a time the system which had been persued. Ile had stated his
titter astonishment at the madness of the kingdom, in remaining
for such a period in this state. Last year the Right Hon. Gentle-
man informed the House that we were deriving great advantages,
that our advance was rapid, and that we would not stop ; but he
would row ask the Right Hon. Uentleman what was the result of
his proposition ; why had we stopped ? Ile agreed with the Right
lion. Gentleman that changes had taken place ; but would he now
come forward and inform the people that we had advanced but one
yard when we should advance ten. lie had, fur his part, morel
sanguine expectations, and he hop that we would not atop half
way. Ile would ask the Right Hon. Gentleman if the people were
not to expect a greater reduction of the military establishment
fur the space of four years—if there was to be no further reduction
of taxes for the same period ? He had pretended to give relief to
one class; why not give relief to the interests of what he may be
allowed to call our foreign Colonies, which were now in a state of
greater depression than any other interest whatever ? Ile meant the
West Indtes. It would, in his opinion, be a most satisfactory
measure; and upon the principle advocated by the Right Hon.
Gentleman, it would not cause& diminution of revenue if he were to
reduce the duty on sugar from 7s. to ss. This the Right ion.
Gentlentan could not well refuse, after eulogizing the improve-
ments which had taken place in Scotland and Ireland. lie should
also reduce the duty on English spina; it should not exceed
7e. lid.: and by this means the expense of supporting establish-
ments for the purpose of preventing smuggling would be gut rid
oe From the late regulations respecting the passing of spirits
from Scotland to this country, the inconveniences and dangers of
sieugglieg had been increased. He looked at this measure in the
same light with the Member for Abingdon, who had brought this
question before the House hat Session, and though he had not
been attended to. he hoped he would still persevere. He thought
a million or a million end a half of taxation should be taken off
the walking classes. The impost falling most heavily on that class
was the tax upon beer. Was the continuation of this tax con-
sistent with the anxiety of the Right llonourable Gentleman to
make taxes fall equally ? Was it not peculiarly hard, that a
gentleman possessing lire hundred or a thousand pounds a year
should drink his beer for eee., whilst a poor man was compelled
to pay 335. This was so glaring an inequality, that he wondered
how it escaped the observation of the Right lion. Gentleman. If
the people of England derived such advantage from the taking off
of eight millions of taxes, why was not the course persevered
in ?
Why was there a Sinking Fund of seven millions kept up?—
where was the necessity of it ? The reason first alleged was the
support of our credit. This Terms would not exist now, for the
credit of the country was never higher than at present, and money
could be procured at front 3 to 3A per cent. • therefore the ar-
mament in support of the Sinking Fund, as drawn from the state
if our credit, was not good. The only consequence was, that the
. Jlinister was left with an overphis of seven millions, which ought
to be tendemd available in relieving from those taxes which were
tel: by all. Ile thought a partial benefit would be effected by
tranallering the duty on beer to malt. Ile lid not wish to see
spirits cheap, and he would have no übjection to a high duty, if
it did not cause smuggling; but when he considered the extent to
which smuggling was carried, he did not think anything was gained
by the high rate of taxation, and he wished the duty on rum
was reduced to As. or 75., and lie would assert that, from the
'increased eoesumption, tre would be no decrease of revenue.
'lt was upon this principle the Right !honourable Gentleman,
'Wiring op two hurt/red thnusunit pounds in coals, admitted that
'Most, m }one of y Ifentr s hut I all that amount. The objection to
the low &tint on minim was, the people would, in consequence of
du faclOity of procuring them, commit excesses. To this he did
TICK agree; the lower descriptions of people would not drink greater
quote/es of spirits than the gentry did of wine: and alien the
isties m spielts were comparatively low they were not guilty of
the excesses imputed to diem. As a proof of this assertion, he
'timid look to France. In that country wine was as cheap as small
beer in this; and he would ask, were not the people of that
country sober? Were they not moral ? Ile could not agree with
the ides' of titling the duty off silk, in preference to that on
merits; mote of the latter article was run upon the coast than of
silk. If these duties were taken off there would be an end put to
the establishments at present necessary to prevent smuggling ; and
',thee luattebes of employment might be discovered, in place of
lhose edablishmenta or himself, he was disappointed in the re-
Walla of the Right lion. Gentleman's statement. lie thought all
the agonised taxes should be taken off The circumstances
enf the country would enable the Minister to do it. If
this were done. the mansions of the men of fortune, which were
now deserted through the fear of these expenses, would again be
filled. These establishments could not be kept up front the ex-
penses of servants under the present system. What, he would
ask, took so many of the gentry of the counts". abroad ? It might
have been novelty at one period ; but surely that must be worn
off. They went abnod to avoid the alarmed taxes; if these weer
repealeelthey would return in thousands, and they would aoleager
squander their fortunes in other countries, and occupations would
be given to many persons at present in idleness, and who would
be employee! as the servants of those gentlemen. With respect to
the iniquitous tax upon law proceedings, he trusted there would be
such an opposition to it, both in and out of the House, that it
would, as it certainly ought, be reduced. Ile ken.* one individual
who was compelled to seek justice, which he certainly obtained,
but at the expense of a year's revenue. All these iniquitous taxes
of law tell on the pour, and lie trusted that the Slembers of
the House, by pressing hie motion on the Right Honourable
Centlemen, would succeed in the reduction, and upon the whole,
if the taxes upon sugar, milt spirits, and the assessed taxes, were
reduced, a great and important benefit would be conferred on the
Country. The Right Hon. Gentleman spoke of the spring the
country had taken, but he feared the country would return to its
farmer situation, if for money, which was borrowed at 74, we
were obliged to pay at the rate of W, thus losing upon our bargain
Wpm cent. ; and this loss, he maintained, was the consequence of
the peevereennia of the Right lion. Gentleman in adhering to cer-
tain pnociphs which he had laid down. As to the payment of six-
peace in thend, made by the Emperor of Austria, it was part
of a debt oh' t pouwenty-two millions &deemed by this country in
man of distress and difficulty, and of this debt two millions
and a half had been paid. Ile thought this sum, such as it was,
should be applied to the relief of the country, and not to the addi-
tion of an unnecessary number of churches. He knew not with
whom this measure of building churches originated ; he was sure
it could not be with the Chancellor of the Exchequer. He was
sure the Right lloomnable Gentleman could not look the House in
the face, and say the measure was necess72 or called for. lie
hoped it would be opposed in the (louse a oar of it ; nine per-
sons out of ten in the country would, he was sure, be hostile to it.
Ile objected, besides, to the tine, .al expenditure of this money; it
was partial and unjust. When the tetblic money was expended,
it should be for the public at large. If the rowan were assented to
the woald be compelled to admit that the House was not calumni-
ated; be woull be compelled to admit it deserved pi character,
which he hitherto thought it did not deserve ; that it attended to
particular and not to general interests; that it was neither just nor
impartial, and that it sacrificed the interests of the many to those
of the few. Ile asked, would the House wish to deserve such a
character? lie sincerely trusted the proposition would be rejected
es it deserved. and that the people would not he backward in show-
ing a sense of their danger. He protested against the partial mode
of relief submitted to the House by the Right Hon. Gentleman,
and also against his selection of the taxes which were to be repeal-
ed; and he misted the opposition which these Measure/ would
neeive would impress upon his Ms esty's Ministers die necessity
of going further.
Mr. ROBERTSON insien.l that taking off the taxes frees the
raw material gave employment to the poor, and increased their
wages. He was astonished at the language of gentlemen ea the
opposite side, who affected to have the interest of the country at
heart, and who. notwithstanding, were anxious for the reduction of
the Sinking Fund. Before the House adopted this measure, they
should look before them ; they should consider not only the gnus.
Sou of this country but the state of Europe; they should look to
Russia, with tin army of 430,000 men ; they should look to the
army of France ; they should look to the Holy Alliance : and, when
they considered exec subjects, how long, he would ask them, could
they depend upon the preservation of peace? How would they be
circumstanced at present with respect to the South American pro-
vinces if America had not interposed her shield, and averted a war ?
They should look beyond the present hour; no single power
upon the Coitinent would wail England, but the whole united
may. It might be also the interest of America to join them ; on
her the Value of the finking fund would be known; it would
enable us to prepare for wee The advantages of this fund were
not light ; it had conferred more benefit upon the country than the
reduction of all the taxes of which so much had been spoken. The
'luau chewed its utility at once ; it was tried bat for 11l months
tae two years, and great good resulted from it ; it caused an over-
'few of money ; it enabled the country gentlemen to reduce the
c 4 upon their lands to 4 and Ile per cent. ; it was the means
ofslZni g Berndt capital into Ireland, and this had done more
"yard to that country than all the measures enacted by the House.
lie weld therefore setfer tan encroschnsent upon the Sinking Fund,
and he thought the itigat Honourable Gentleman had made most
Judicious selections in the taxes tube reduced.
Mr. G. BEN ETT was for some time inaudible in the Gallery.
When we heard him lie was stating that, In his opinion, those who
?Need the currency of the country were guilty of robbery. He
hal long held this opinion ; he would ever retain it. The Mini.-
", had at one period robbed the public creditor, at another they
ribbed the public at large. He had, within the range of his own --esseese--
eeeerienm, known many persona reduced to ruin, and made pen. The Chancellor of the Exchequer brought forward his
pars ef, by means of the Government
rionduet of Government, by sets of that Parliament, were numehr. financial statement called the Budget last night. His
individua6suiPP'd the' Prlbertiec and consigned to beg' speech will be found most fully reported in our columns.
Foy end ruin. As to the state of me country, he did not believe
"t^be as described ; and es to the agricultural, he must know How far the reductions proposed by the Right Hon. (Jen-
%err little of the state of the country whoaffirmed it to be flourish- demon will be satisfactory to the country at large, we can-
ing. The poor's rare might sot this year be as heavy as
they
were the lest but there were few parishes in which • great not now take upon us to pronounce ; but his exposition ap-
!TTortion of the itihnbiusnts did not femme relief in some shape or
'.'tee • As to the difficulties through which they passed it was the
toruttuL, the industry,to
to have satisfied the House, as there was no effective
and the takes of the people at Loge opposition to his propositions, and triumphant checrs from

The CH ANC E1..1.111{ of the EXC II EQI TER said the mode of
payment would depend upon the number of dissentients, and the,
amount of the sum to be paid ; the state of the Funds at the time
should be also taken into consideration ; and until then he could
not exactly say if the payment were to be wade by raising a loan, or
by the issue of Exchequer Bills.
Oa the Resolution for the Expenses of Sheerness Dock-yard,
Mr. %CARR?: remarked, that a large sum had been expended
in the construction of a dock at this yard, and, if his information
was correct, it now appeared that the dock was built in such a
manner, as not to leave room, when a ship was in it, for the men'
to work on her. He alluded particularly to the Lord Howe, which'
was at present in that dock, and the operation of caulking could
not be performed on her, in consequence of the incommodious way
in which this dock was constructed. It was true, a remedy had
been attempted by raising the ship to give room ; but this he did
not think sufficient ; as, where so large a situ had been expended.
better care ought to have been taken for the prevention of such an
evil as that he now complained of.
Sir U. CLERK admitted, that what the lion. Member had
stated was correct, but the evil was not of a very great mag-
nitude, and the expense of a few pounds would repair it. It should
be recollected, that the Howe was the largest veseel in our service,
almost a she that was not contemplated at the erection of the
Dock, but still an alteration was now in progress, to make room
for even working even on her.
Mr. HU3I E suggested, that as it was very unlikely we should
build may other ship of the size of the Howe, the expense of altering
the Dock might as well be spared.
Sir (.1. CLERK—It will only cost MI.
The Resolution was then agreed to.
On the resolution of 29,6351. 13s. all. for garrisons being put,
Mr. HOI3IIOI'SE stated, that he was desirous of repeating die
question which he had put to the Noble Lord (Palmerston) the
other night, but which the Noble Lord, in his flights of eloquence,
had omitted to answer : —it was, whether it was the intention of his
Majesty's liovernment to convert the Mews at Charing-cross Into
barracks?

Lord PALMERSTON stated that there were barracks there
already, and he was nut aware there was any intention of removing
them.

3lr. HOBIIOUSE hoped that molt consideration would be
given to the subject, betare they were permanently established
there.

On the resolution for the vote for 92,000 men,
111 r. 11U31E objected that the number of meat was too large, and
was greater than had been moved in 1817, and contended that a re-
duction of 10,000 men nught to be made. He admitted that the
Nary and I srdnance Estimates had been considerably reduced, and
that the Government had acted with great liberality ,owards the
mercantile interests of the country ; yet he protested against this
country being set up as a military nation. He remembered when
Lord Castlereagh, in 1819, celled on the House to agree to a vote
of seven millions for the math and stated that the estimates bad
been reduced so low, that if any further diminution were attempted
the wheels of Government could not go on ; yet when he found that
he coukl not prevail on the House to go along with hiaw the lied-
mitts were withdrawn' and considerable reductions made ; and he
thought the Noble Lord (Palmerston) might imitate that example.
Ile conceded to the Government a disposition to relieve the country
on all points but military ones. lie was convinced that a reduction
of 10,000 men ought to be made, as he felt assured that 82,000
troops were sufficient fur the service of the country. He then
moved an amendment to the same effect as that of Friday last,
when the subject was before under discussion.
. .

Lord PALbIEIIiTON obrrved, that this question had been so
fully debated on a previous occasion that he did not now feel him-
self called on to make any remarks in support of the revolution,
but he would merely state, as an allusion had been made to the year
1817, that the establishment of that year was 107,000 men, and
their expense 6,664,6001. The establishment of the present year
was only 76,000 • their expense 200,0001. short of 6,000,0001.
The louse then divided.

For the original resolution 62 I Against It - - 8
Majority - - 44
On the resolution for 1..2194071. for the Chelsea Pensioners--

Mr. HUME remarked, that there was a great increase under this
head.

Lord PALMERSTON observed, that this increase was to be
accounted toe from the circumstance of so many regiments having
returned front India, and it generally happened that many soldiers
returned from India who were disabled by the climate, or other
causes. Indeed most of the effective soldiers preferred staying
there, and it therefore happened that on a regiment coming from
that country nearly all the soldiers were entitled to the out-pension
of Chelsea Hospital ; but he might now state that this sum had
reached its maximum, and they might henceforward look confi-
dently to a diminution f it.
The other resolutions were agreed to.
The Orders of the Day were then disposed of, and the House
adjourned at TWELVE O'CLOCK.
•—•-•
NOTICES OF MOTIONS IN THE HOUSE OF
COMMONS TO-NIGHT.

Mr. John Williams—iiotso;relaiingtOtb; Court of Chancery.
Sir Henry Parnell—Papers concerning the commercial Pier.
course between Great Britain and Ireland

PRICES OF BRITISH
Bank Stock 2384 84
3 per Cent Reduced-. 924 1
3 per Cent. Cons. 914
34 per Cent.
4 per Cent. 1024 /
New 4 per Cents. 107 C 4 7J
Gong Annuities, 22 9-16 11-16
Imperial 3 per Cents.
Bank for Account
Cons. for Act. 914 1

STOCKS YESTERDA Y.
India Stock, 2771
India Honda, 73 79 pr.
India for Account,

South Sea Stock.
South Sea Old Annuities
South Sea New Annuities
Ex. Bills, 1,0001. 11 47 pr.

Ditto. 5001. 44 47 pr.
1/itto, Small, 43 47 17r.
Lottery Tickets, 191. 19s.

PRICES OF FOREIGN S'
Austrian Sarip, 10 pr.
Ditto for Acct. 114 10 pr.
Ditto paid in full
Chilian Bonds, Ik)
Ditto for Account 01
Colombian Bends, 681 7A
Do. fur Account. 68.1
Danish Bonds,
Ditto Marks Banco,
Mex. Scrip, 7e tip 7 611 pm.
Do. for Account 7j 7 6
Neapolitan Bonds,
Ditto for Account
Portuguese Bonds
Ditto Scrip, 31 pr.
Prussian Bonds, 94
Ditto Sue the Account 96
Ditto Bonds (1422), 934

7OCKS (IN SATCRDAr.
Russian Bonds, 9.14 a a
Ditto for Acet. 944 3 a
Russian Inscription
Exchange per ruble
Spanish 5 per Ct. Cons. 241
Ditto tAor Account 24,i I
Ditto 170 & 235 Bonds, 25
Ditto 82 ditto 25
Ditto 5 per Cents. (1823) 181 19
Ditto for Acct.
Anglo Mex. Mines 74 pm.
United do.
FT. Ranter,
Do. Scrip, 111 pm.
Do. Ex.
Week Scrip, 41 41 ei

MAILS.
A a a rvr n--I Alalta and 2 Hamburg!).
Mr r.--I Htunburgh, 1 Holland, I Flanders, and I French.

Cite Oritifsh WOO.

Th. BRIT ISIS Pains commenced publishing yesterday morning
at tire o'cbck.

LONDON, TUESDAY, FEBRUARY V:I, 1821.