The British Press; or, Morning Literary Advertiser.
London, England, 1820-06-20 00:00:00

WATT AND WEANS.

Granted Ow Estimates for
1819. • 1 MO.
f 3,000.0.1 Amami Kale . t 3,0c.00rt0
3,500.1100 Egoist Ai*. ourrieead : 2,6a0.0i0n
!WPM Ladtery........... , -., e 40,111
33400. OM ilium ••••• :.ice- 240.11
•-•.---... .
7,1074.000 • • ''''''' kielall
12.090,000 Lose ' •••" 1.11/110IN
12.000,000 Rioting Feed Low." •.• .• .. : ."10.11116,111111
' . Females Ezelreqeor 8i110...-.....-,• WWI*
..--.---
531.074,000

- -30,000.000

UNFUNDED DEBT-10M.
Excherprer Ring, be G. 10. cap topoome
... se Goo- 111. 4•10. 131 '14.400,40n
'lrish Tremor/ Bilk
Mille agreed rir Aid N Manstacterers,
my, kc. Go,. 111. cap. 34 1,000,000

39.5000011
•111111010==•,••=01
UNFUNDED DENT-Is2o.

Esebtquer Bills
Irish Treasury Bills 1,890,1N

By Reduelioo of Unfesdri Debt ... ..... ....

30.500,0011
9.004,0011

f 39400,0811
Mr. Hama wished to know why it was that one
million. the. British quota of the French contri-
boners, was not carried to account this year as had
beet, promised ?
The Cnancat.t.oa of the Excitrouta said,
that the Hots. Member had unfortunately been
mistaken. He, had counted the money in English
pounds sterling, whereas sifter winding up the
whole account there were two millions of francs
due to the Government. He wished he could coo•
vert these into pounds sterling for the public see.
vice, but unfortunately he could not realise the
blunder of the Hem. Member.
Mr. Geettrzet. said, that the Right Honour.
able tlember had gone brio describing the means
which lie had in view of 17 millions borrowed from
the Sinking Fund, and seven millions by funding'
. Exchequer Bills. Yet there was no syllable. is to,
the source from whence the chargn of these tans-. ,
actions were to he liquidated. He did am ate how
the future calculations of profit mode by the Right
Hue. Gentleman could come to pass. lie wished
for iiiforimition as to the source by Which the
charges of the plans submitted were to be de.
irered.
The CHANCBLLOR of the EXCHIMOrIt thanked
the lion, Nlsmber for reminding loin of the most
important part of his statement. which he had left
on!. The means by which he proposed to effect
the loan from the sinking fund, were simply to
caller' stock to a correspouding amount. He me-
wled vin the probable efficiency, which would be dis-
covrrahle ou the remainder of the fund after the
loan of twelve millions should be withdrawn. The
principle which he had in view to establish was that
of 1813. shell it had been agreed on all hands that
uu miler to inert the'expenses of a new war, when-
ever it should break out, it would bi awes-
nary that a clear 100 millions of redeemed debt
shield remain in the hands of the Commissioners,
which were to be cancelled as soon as war should
he actually declared. There were at present 140
millions io po.seasiou of • those Commissioners, and
be _proposed to cancel the execs beyond 100 siitl-
.-. hops. He had so calculated, that with die sleduc.
lion of the present loans. there would remain in
July. 1021, 116 millions, leaving the 100 millions
for the exigency before mentioned. the residue,
together with the accumulations of new purchases,
would be available for •ny loan which might be
%Weil for the coming year.
3lr. Gaestireee would confine his observatious
!in fly to the consolidated fund. and the remarks
which lie had on a former occasion mode to the
{louse respecting the deficiency of that kind. It
•.s. an Oilintnl and unseemly blot is the financial ar-
r ingements of the country that there should be eon-
-I,l,toilly a deficiency in the consolidated fund of
seven or eight millions, as had been admitted by
thr Right Honourable Gentleman. Why not girt '
nil or it at once by a loan, or otherwise, so as to put
the fund straight? Did the House consider what
was the effect of this on the character of the
timnice of the country ? The dividends could
never be paid in time. without the good will
nail pleasure of the Bank of England, upon
whom the Government bad to &tread for this' put.
pore. I:e admitted that the Bank had always
sliewn willingness enough on the occasion. But he
would ask the House and the public, if it was cre-
ditable for the capability of the country to pay those
charges, that it should depend on the Itecolltlim•
dation which could be had from time to time 'from
that Corporation? He would ask if this way of
proceeding was such as to enable the Right Hon.
Centletnao to act with perfect independence. so as
to make the best possible bargain for the public in
hu traiisactions with the Bank ? He concluded
with some genetsl remarks on the operation of the
Smiting Fund, in which he impaired to doubt its
us4olness, and even the propriety of its existence.
Mr..J. SMITH appeared to differ from the opinion
of the last speaker as to the properties and useful-
nese of th, Sinking Fond. One 'of its effects was
to create a market for stock which was for 'sale.
The purchases of the Commissioners taking place
four time', a week, preserved the markets in an
equal state, and prevented that depreciation which
would otherwise take place in such property, from
the uneven amount of the sales to be effected at
different times, The operation war well kiiown to
many Gentlemen on his side of the House, sod he
would be sorry to see the fund done awry. He
had witnessed with the deepest and gravest concerti
the alteration which was going mem the country.
They had found out unfortunately that all the
expectations held out by the Right .Honour-
lde Gentleman were regularly disappointed,
and after five years peace. the same evil was
Plaguing them, of an expenditure increasing
with a diminution of revenue: He was the wore
impressed with these !melancholy forebodings, be.
cause he observed with great pap) the deciease of
credit which the country was ragtag into. Daring
a long mod arduous Pat this matey lied been' the
asylum. of pespeety,.;loolvow vat twit uncom-
moo to hear of English people investing money in
foreign funds, in order to wear-. as it were, a pest
egg, in ease of the worst which was anticipated.,
He thight be.asked why he did not offer • plan to
obviate so mach difScolty and dowse 1 - Übe had
. ,