The British Press; or, Morning Literary Advertiser.
London, England, 1822-02-27 00:00:00

They were the fundholders, a joint body of con.
Oomers. If the last-named clam were destioyed,
far from benefiting agriculture, it must dreadfully
*prorate their sufferings, by diminishing the de-
mend. Allepere .greed that filth must he kept
with the public creditor; that establishments
of the country ought to be reduced to meet the der-
fiCulties, as low a. the Solely of the coustry and the
Monarchical nature of he Constitution would allow,
He was as cordial in that as any of the Noble Lords
opposite, with whom he only differed, supposing
these conditions granted, as to the choice of
two sets of measures, for the examination and dis-
cussiou of which he wee quite prepared. If they
were so far agreeds the question between them
would ewe* to this—o hether they should remit
taxation to the amount of the surplus income of the
revenue, fiee millions, in order to relieve agricul-
ture. It was merely • question of profit and lots.
He would first see what would be the advantage to
the country at large, and specifically to agricul-
lure. by remitting the five millions in the removal
of taxes. He had sliewo the effects of the !educ-
tion' in 1818 in the depreciated currency. But
what proportion did they gessoes, lee edition to bear to
She while income at the ego*, ? Estimating she east pro.
perty of the lands with all matiateacies of raise which
would be fairly Plummeted, be proposed to take 11w *bole
Imams of the cosatry at 260.002.0001. lly. Let it be
remembered Used themiatiors tau 51 or b 2 millions. The
reduction proposed dab omotrith of the whole taxatioe,
or ese-iftieth of the whole income of the tonsetry. That
was the utmost retest of the reiluttioa. It was good as
far ea it went; bat so was could series-1y believe that
it would relieve agrieultere or procure what saltation:
. meet wanted—a market. Bat whet wee the loss to be set
ageism this poor profit ?. The abolition of the Pettis( food,
that great upholder Odor fortunes and credit of the revelry.
No ass would deny Ow for • considerable time this would
'bare iii eff.isi of rabies' the interest of mosey. What would
he the effect of the on agricultural distress. The lose
"mild be Were than be gala of repeated taxatiers. The
want of high credit would beer hardest on those who
were must depressed already—those who most borrow lonely
to shun these distresses. The taloa( away the Patio, fetid
would produce II Imperceptible relief to agrieisiture ow
oar rand, and would cruelly augment the difficulties on the
other; and so mach as to his upinims of the "testi*e of
poll and loss. Hie Lordship seat oddment himself to the
self et of the sinking fund. It had hied the fashion of late
to decry It; a certain clam of peewits had fallen into a
habit of ridiculing it. He was old 'enough to remember
the opielon which existed as the subject on its este.
bliehmeot. He would say little of the confidence and
certainty of Mr. Pitt In Goading It; bet it Sri' out he
and his friends alone who approved it. All persona and
parties were agreed upon the excellency of the plan. 'He did
not believe that party ever ran higher thee is 1766, but so far
woe the a (km being opposed by those usually in op-
parities, that no Man more extolled the Finking Peed on
every occasion of mentiensing it than the late Mr. Fox. He
had suggested some abrrations of the phut in the Commit-
tee, which were thankfully received and adopted. But
look to all the discussions on the war' and after the
tarminatioe of the war, it would be found that he (Mr.
Fox) had misted so occasion which offered of retel-
ling, in the highest degree of praise, the ftinkiee Fend.
Mr. Sheridan also supported it with his musts., toad api.
aloe sad confidence. The brat insio•stion against it came
oat la the year 1804, is the book of Dr. Hamilioa, where
the alibied was treated with considerable ability. though he
(Lord 1..) was Dot played to admit the conclusions. In-
deed he denied that Dr. H.'s book, top-aims and able as it
was,, bore against the principle of • einkieg fund. All the
Dr.'s objections went against a sinking fund in time of wet,
which he held to be mooch loos to the country. He woad
admit the inrush, of the Dr.'s reasoning, though he differed
from M. He (Lord L.) held that there were realer ad.
vantages eves la time of war from keeping epa *Whose fluid
than out; there wet sot more gain than lona in abolishing
it. Bat, besides, there was the mural effect to he coveted
which must be irrodueed is • war niaiiitaieed to rewire
the nation's existence. The means of carrying on such a
war were more easily iaised this way ih-its by direct imps.
*ion of taxes, and Ile etude of rouse the supplies
was more unfavourable to the general sod embarrassing
view the country might have of its dangers and atifferirr.
No objection bad however been made, even by Dr. Hisesil-
ton, to • sinking fund, in time of peace. Some who bad
followed in his track more rashly, hail gone so far as to my
that • risking fund was nothing more than pa lug with the
right band that which was received in the left. Bat this
could only refer to a state of war; the argument would
ant apply to a time of peace. Consider what would be
the situation of the coantry without • sinkiwg feed.
Were they to go tau accumulating debt distil% the war
and make ao preparation for paying la time of peace?
%hat then would be the situation of lb* 'ossify is the
west war? Were they to let the world know that they
were without the power of liquidating the debt I. any de-
gree? Every country in Europe, In imitation' of this, bad
established a Peking fend. They looked with the greatest
assiely Eaglaad for example on losecial ecoowany.
France had a slaking fund far greater is properties
than ogler. America had a slaking hold which would
wholly redeem the debt in twenty years. Having set this
widely-adopted example, were we to declare oar past coo.
duet bottomed in fall iryWnd misapprelwosios, and shandoe
the sinkiag fund, the debt being far greater tine this of soy
other constry, which it would not have been but for the
exiateace of that fund, and the hopes it forniabed of climber".
ing in peace ibe obligailows incurred in war ! He did hope
that the agriculturists would prefer the continuance of their
eefferings rather than sot keep up the siukiug fund, epee
the presemailots of which depended tie fate of thee:emery,
sad hie consequeore In Europe, sod that posterity might
•itness, If u• left a large debt, we also provided the
means for redeeming it. He came then at last, her.
pug stated his opinigai of taxation ats mutinied with
evitraltaral distress, to consider whether any er what
measure of relief it wive cow in she power of the Govern.
meet to apply to that distress. Supposing that be bed
proved the cause not to be in exceinve taxation, redaction of
taxes would be so milkiest remedy, and would give so effec-
tual and sensible relict. Such was his position. He had
formally stated what he believed to be the cause of agricsd.
haul &Pres. thionglosmt ssnpe, trod more sortirelorty et
home. He bed stated It to be the peat ezeitainsat of the
war, in which ibis country and the nations of gamy* hot
to Sett for existence. Undoubtedly that waroirmaed did
lead to tit: production of greater quantities of articles of the
soil, and the high pekoe did force • great quantity of pia
leads two cultivation. Why sot overpreductive here,
• other branches of she natiosial industry? The excess
had twee known, mid suffered, and atkeowkilged lis thaw,
why sot is the products. of the soil ? Was nut the slate.
meat eoesisteat with every man's observations? Did sot
every one know, in respect to his owl. district, at least, and
those Nwisogt• which lie •travelled, that vast tracts of poor
lauds bad been forced into cultivation ? But there was as.
other important fact to be considered—the stale of Ireland,'
When the Corn 1,11 was passing through the House be had
stated, that he looked on it less as • security to British than
to Irish woke, ; he had found by the pa pets laid ea the tablet,
that since the Onion. and particularly in the last twee/skeet
years, the average imports from Ire laud bad bees greater
(allowing for IF.e Wrest Importation from the cooniiies of
Europe is the war) than that of all the quarters of foreign
turn cummused is the country. It was • fart, nut to be
teakettle/. that with respect to she costs of productioa,
England and !reload sere in /ha same relative situation a.
England with respect to other Stater in colonial produce. The
Rood lands in behind etre irking with the had lands Isere, as
tbraettleinentsof South America threatened dasgerous malty
he the plosluee of SUMO of the old Wist ladies settleaseets.
fie admitted the necessity of uphotiling agriculture. Go.
verameet nerd Partianiont ought to du all that was possible
fee thew relief. They ought to bold the balsam* evenly be-
tween the seteeral interests; at the same time, if the weight
of • feather were to be thrown partial:; late either scale. he
would pet it in that of agriculture rattier thaw say other. '
Tot agree:ahem sem ow the Duly interesis Great Braid&

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