The British Press; or, Morning Literary Advertiser.
London, England, 1819-06-19 00:00:00

ovr description, to the despondency end cli.may
of the class of society which it was *o essential to
woe, Not having been in the House when his
Noble Friend had spoken, he was not aware what
hall been raid by him in allusion to the property
; but he ((Mr. L) had no hesitation in *trying,
tax
that ell s general principle there could be no tax
more effective. He thought, however, it would be
r ell, possible, to reserve such an impost for the
rygenties of a war. Ile was aware that peace
,fortimea required great efforts, and he thought
oil a tax bearing very lightly on the property of
the oototry, wont', be amply ruffic;ent to redeem
the &inert, and to leave an abundant surplus for
come upply. Ile thought that on the vject of
the public expectation might 'reships he
economy
'wed to too sanguine it length; he *till trusted
that Ministers would use every effort to retrench
linnecetsary expenditrire.......(//ra,., hear, front the
rvefistiru liertehts.l—Uoder all the circumstances
:.:;ould vote fur the motion of the Noble '.%lar.

e,014. . •
Lord Joust RUSSELL concurred Kith the Hon.
Member far the City of London (NIL Wilson), that
it was tvcersety to place the country in a tone of
peace, in such a state as would secure her from
•!ie danger of a sudden war. 111 the common de-
.eacr of the country, every subject. Ishate,,, may
it'S political opinioirs, had a common inverssi.
hurl beets made by his Hon. Friend (Hr.
to the distrust which Mr. Fox had fur Nli-
, hot that great Statesman had carved his
e!i.tron farther than Ins Hon. Friend seemed prepar-
ed to Ann,. The real question at 'present was
011.--•,114 it expedient that, it; the ',resent crisis,
there should be a sinking fund provided to the
amount of five ? There were two ways of
unosidering the principle of this sinking fund—
'me way was, that it should be made to provide a
surplus above the ex peilditure, to be ready to
meet the emergencies of any future war. In
lent way be was its warmest admirer. The other
nay was, that of twovirling this food fur the extiuc-
tion of tl..e national debt. In looking ut its oper-
a:lion in the last cease, he must revert to the con-
duct of a former Minister—he alluded to Sir R.
Wulinile, who was, lee thought, the greatest truth°.
r•ty upon any question of finsitce. He was the
man who raved the country at the bankruptcy of
the South Sea Company. who raised the credit of
the country, and established a rate of interest at
three per coot. instead of the previous rate of eight
per cent. Walpole was a steady and cons'inent
Minister—his followers could rely upon his firm.
nets—they never found hies gainroyiog his plans or
his projects ; he established a sinking fund which
mired the country seven millions—at the period
of 1763, the saving amounted to teu millions addi-
tions', and Mr. Pitt's sinking fund reduced the
debt eleven millions (though it augmented the
debt at the opposite side), making a total redo&
lion of the debt to the amount of twenty•tight roil.
lions in the space of a century. What proportion
slid this bear to the present enormous debt of right
hundred millions, and see what the rate of reduc-
tion of this amount would be, assuming that a
peace of 45 years was now likely to be had fur the
country. Ile could not think, in this state of
things, and with so much distress surrounding
them, that, for the purpose of reducing this debt in
manner proposed, they should be called upon
to lay by a sinking fond of five millions. He had
also the strongest objection to the proposed taxes :
that on beer .mild materially affect the tower
classes. The Noble Lord then commented iu d
tail noon the nature of the financial Resolutions
and contended that the proposed tans were of
most injurious nature. Not content with taxing
the beer of the poor, their very tea vas to have 14
vice augmented. This rotio of taxation war, h 4
person...l, to be carried on until that proud pea-
santry, 's once their country's pride," were at length
driven to live on bread and water.—(Hear.)
Mr. litcsaoo could not agree with the lion.
Cletilleinati (Mr. Lamp) that it was desirable to fol-
io, the precedent of 1794, at the conclusion of the
American war, and to re-estrhhsh what he called
•
oinking fund. Now it appeared to him (Mr. Rio ,
'wilt)) that that was the very period to which the
eiteniiis of this sicking fond would direct their at.
tentioti in support of their arguments. What was
hereon. of that 'nuking fund ? The answer was, it
bad reduced millions of debt—of what debt ? not
of I lie old standing one, bnt of a debt fresh contracted.
So that so long as the Minister had this food to go
to, lie was always ready to incur fresh debt. The
same fate would. again await a similar fund. If it
were intended as a fund to provide for a new war,
then there war no pressing necessity fur laying by
the money now; it would then be touch better to
let it remain in the pockets of the people. He had
o iealou• distrust of leaving such a fund, not in the
i•Jnitl- of the present Nlinisters particularly, but in
the hoods of any Ministers.—(Nice.) 'hen he
tie had ,his opinion of time sinking fund, it was use.
Irss for him to take into his consideration the na-
ture of the taxes which were to be applied to it.
we' however said that the malt tax must, in the
end, be paid out of the poor's rates : it was clear
then that it could not fall upon labour. as bad been
by some asserted. On the subject of Parliamentary
Reform, which had been incidentally started, he was
tree to conical his anxiety for a better represents.
Lion of the people in that House. He was not rea.
iufird with its present state ; the people were enti-
tled to have a greater ingueoce over their represeu.
satires than they appetite(' to hold.--(Hree. hear.)
—llls Ilan. Friend the Member for hlieldlesen (we
beh.ce Mr. Mellish) was astonished the other night.
oiliest they happened to agree in opinion; he hoped
he would not be astonished at present upon findiug
that they differed..--(Hear, ham)
Mr. W. LAWS explained.
Mr. BROUGHAM. adverting to what had fallen
that
from an lion. Member opposite (Mr. Gooch),
ill/ might as well enact there should be no food,
:Is no new taxes iu the preemie Mote of the couotry,
observed, that, tree, there should be toles of retiree
to meet the Expenditure of the country, hot sot nt ie
abating iii that shops bored the actors.
_I twee'.
_.iluty
of the cattr..4-(Hesre.)....tsnt to tonic as tney moo ina
be see to nem•
actual goyim of 2:090 At" ma
tails.--f mei
oak I—He1—He
_
sity at all for the piopoiled
...mid um consent to lay on Nth latch for
and the
thus
log food, for Uteri was Ilia
td e beginning
not consent
end of the proceeding. eb He of the stock.
lo pry them ea for thelle"
holder, could not conseat to lay them on for the
keepiwg op of rebate reweits for the rem" eurPlus