The National Register.
London, England, 1816-02-18 00:00:00

PROPERTY TAX.

The Sheriffs of London presented a Petition From the Lord
Mayor, Aldermen. and Clnunion Council, of the City of Lon-
don, praying a repeal of the pre.ciit Property-tax; and that it
should not be continued under any modification w hatever ;
which was read, and ordered to lie on the table.
Sir W. Ct: wits said, he held in Isis hand a Petition from the
Lord Mayor, and Livery of London, in Common Hall assembled.
This Petition was cinched iu temperate language, and wan
agreed to by a most respectable body of the Livery. It prayed
a repeal of the Property-tax, to the burthens of which the Pub-
lic at large had only been induced to submit with patience by
the urgent necessi:y of the times. That necessity they cos.
sidered was now gone by ; and any renewal of the tax, however
modified, would, in their opinion, now became an intolerable
horthen ; they therefore hoped, that no attempt whatever
would be made to continue it. _ _

The Petition having been read, Sir J. Straw said, the lan-
guage of this Petition he cowidered to be Iliclamptage of the
Livery at large. It was temperate and moderate, and it cer-
tainly spoke his own sentiments. The Livery at large had
three objections to a renewal of this Ti,x all of vs 11*.cli were
well founded. They objected to it, first, because the neve•sity
which could :Ilene render the tax bearah:e was past; secondly,
because these was a plc hue given lust year, that at the cud of
it, or of the war, the tax should expire ; and, thirdly-, because
in t present state of the country it was, he believed, dot of
the power of the people to pay it. fader thestt circumstances,
and for all thcsc reasons, he woulJ now submit, that it would
• he fur preferable to raise the six millions, which it was estimated
this tux would produce. by wa vof Loan, the interest to ha
paid out of the Sinking Fund. This plan would relieve the
country from a load of taxation for the present 3 eau, awl %souk&
out at all affect the Sinking Fund,

The Petition was then ordered to lit on the

Mr. WilmaTos brought up tlie Report ot the Committee of
apply. On its Wing reed,
Mr. BARCLAY oral 4 anxious to expregt his opinion on the pro.
robot for continuing the tax ou Propel t.;., or lucainey berans•

Le bud given it his support us a means of carrying on the war.
He fcll it incumbent on him, new the war wile 17011C11111rd, to
protest neatest its renewal. With respect to the proposed re-
lief to the ageicaltural interest, et greater relief would be' sit.-
forded to evert.• class of his Ala,jesty's subjects if the Property-
tax was taken off.
Mr. Hotta ER concurred with the last speaker. "that it was in
vain to expect relief without some amelioration of taxes. and
that could only be dime by a reduction in the proposed esta-
blishment.—(Hear,htur.l—it was a dehision practised mem the
public by i‘linisters, to say that the Military Establishment to
sa large an extent was necessary for the saf'e'ty of the country.
The thing must he met fairly and honestly; disenise would nut
do ; anti theeetiwe the only question for the Constituents to pat
to their Ilepresi etatives was this :—"is it necessary to keep
up an army of 50,000 men in the British Islamise' That the
teitinition of the country was different now from what it was at
laity other period of peace, every one must admit. We hail
1111 w 110 101011i1A):1.1 enemy to dread --thi Navy and Army of
France, Spain, and Holland, were annihilated. and the military
means of offence of the first Power reduced, What alarm could
eeisti The fact was, and he st predict it, that if the
tary EstalAishnient was kept up for a few years, it would, in
the end, be found incompatible with the constitutional rights
and liberties of the people.--(//ear, !tsar. —We (ight to pre-
sesve our character us a nation, by alibi rifle, to a Marine Esta-
blislinicnt, and not to he deluded into a show of military glory,
with a slew to take rank among the military despots of the
Continent. The truth was, that one or other must give way, er
liberty and the constitution would have but a short snuggle
with a military goverumeut.—(llww, h,
Mr. VANsrnAnT could not think with the Hon. Gentleman,
Allot the liberties of the country were endangered materially in
.erm.l.equielee of an addition of 23,001.1 men to the military es-
tablishment.
Mr. TIERNEY did not dread the addition of 24,090 men ; bolt
he did teed alarm at the increased inlinetine of the Cave n from
so large an establishment, and wished his alarm to leach from
one end of the country to the other. 'the House would dis-
grace itself if the abscut Members were not called over when
Mite question was discussed—(Licar, hear)—to say aye or nn to
so monstrous a proposition. The only way to retain their
places, Ministers conceived, was to erect a military system,
that could not be reduced—No!. it must receive an addition of
strength—lt was easier for them to reduce the Nasy, and pay
tstraen sail of the line, than one regiment of Hussars. Li some
limiters a Captain of the British Navy, in his plain tar's dress,
did not look to the eye of some persons quite so well us 4 &eased-
up officer in the army, with his whiskers, his inustaclMs, and
trappings.—( Hear, evar)--.1 he Noble 1.4.:d might sneer at this
too, bat it seas so; and lie had heard of travellers (the Noble
Lott had travelled and seen a great deal of the world) who
talked in company of the fine appearance of the cuirassiers
and ham!, o the Continent; and then came the system of re-
dressing our army. The flight Hon. Gent. then commented
as the statement of the Right Hon.(kilt. (Mr. Vansittart) of
the prevellitig evening, in respect to the finances; and con-
tended. that nit of the 36 millions hummed last year, 12 mil-
lions yet remained doe at the Bank, st ithout whose ussistanee
stocks mast have been much lower than they now arc. In re-
spect to the actual peace establishment. it wild be, reducing
the items, about 211 millions and a halt, of which sum about; too
niiilions and a half were to be borne by Ireland. Not one
pound out of the two millions and a half would ur could Ire.
land pay. indeed, we most give her assistance. The Itieht
lion. Gent. bad bcgtin with his Budget at the wrong end; for
he should have pot the ways and means at the top of it ; fur in
the vulgar old fashioned way, beltire a gentleman set up an es-
tablishment, he looked bow his ways and means stood.—(Hear,
/oar.)--Ilut, income or not, Ministers were liberal enough. Eur
instance, if one of the Allies said, " I brought so many lion
into the on owe me Italia million."—" Oh! did you (says
the Noble Lord ), well, then, here's half a millien for you."—(A
line h.)--The Right Hum (it at, objected to the coutinuance of
tho Leather 'fax, and trusted that there would be a clause in
the Petitions, warning the House against any extrasagant
es-
tablishmrnt,—(Neer, hour.)--The people of England would be
to blame if they gave them halide. Property-tax; Willey agreed
to it, they might soon expect Ministers to call for the whole.
Lord Casa LEIMA6II defended the continuative of the Pro-
pert s -tax ; and was prepared to prove, at the proper season,
tisatit was not the intentiou of Government to ape other mili-
tary Governrueuts as the Right Hun. lieut. supposed; nor
should he have coutidence in the Gosernment of any Country
until he saw the civil power getting the upper hand of the
; it would not be safe to reduce the establishment until
Le saw the military spirit abated.
Mr. WINNE made a few observations, and then the report
was agreed to.
Mr. VA MITTART could not answer the question. It would
be referred to the legal Gentlemen. lu answer to a question
from Mr. Vr ynne respecting the appropriation of the 7400,0001.
to
be paid I.y France, the Right Hon. Gentleman said between
490.0001. and aOO,OOOI. Intel been paid into the militaiy chest at
Paris.
BANK TRANSACTIONS.

Mr. MIENFELL, after some preli 11l i l iury observations in re-
spect to the Bank transactions, which he denominated exorbi-
tant and injurious to the. public, on account of the immense
profits they nettle, divided the sultjtet into two branches. 'l•be
first %VAS, the di posits which individuals lothzed ts nth the Bank,
the same as with other Bankers, and which were productive to
the. estent of five per cent. on the aggregate sum for ten years,
amounting to about I t millions and a half. 'J•he next branch
of profits to which he• woold advert was, the CIII/rMOIIS SIIIII al-
lowed to the Bank for the management of the National Debt;
this amounted to upwards of 300,0001. annually. There were
,also two other items, one of 4,0001. annitally for House expenses,
anti another of between 3 and 3,0991. annually, for the manage-
niceit of the sum of 4,000,0001. South Sea stock, purchased by
the Bank in 1721; bnt the greatest bratu•b of all from which
the Bank derived profit was, the suspension of cash payments,
and the consequent increase of pa; t•r cii ciliation, which lie
could not estimate at less than 800,0001., and lot this jnereate
4,1 their profits, the Bonk had principally to thank an Act of
the Legishiturc. 10 1800, Mr. Pitt intimated to the Bank his
opinion, that the public were emit ISA to participate in thepro-
fits which the 1;411k WaS niaking of the public money and politic
balances in its hand ; and upon that representation, an advance
ot• three millions of money w as made to the pliblie by the Bank,
for a ceitain period, without interest. At this time, however,
the Jinni had balances to the amount of sits millions in its hands,
and these• balances went on increasing till 1500, at which time
they felt lath. short of 12 mi therm ; that circtinistance attracting
attention, the Bauk then coos forward with an offer to advance
to the pI.IIIM three millions more, at 3 per cent., thus achnow.:
!edging the sight of the public to participate. in the pi ohts, and
ackhomieug.hg that they had pint-ts, but was it just that the •
piibli • hi one. 114,4 tOtt.ll eatte it on to pit) any thing at all fir
tads ads abet. of Ellice millions, when there were 11 millions of
pact te roue) in the hands attic Bank? In leoB, Mr. Pererval
es eke Bank to make ;mother atlnelace to the public: of auo.