The National Register.
London, England, 1822-05-26 00:00:00

Imperial Perrtiament eont:nuell from page 161.

roittee on naval and military pensions, called the attention of
the House to the resolutions on this subject, agreed to on the
3d of May last, Ile described the resolutions. The pensions
were considered in the nature of a public debt, the House re-
cognizing the propriety of relieving the finances from the pres-
sure of such charge by an equable arrangement of the same
With this view it was preposed to spread the charge over 43
•ears, though then the debt might not be extinguished. The
House recognized the principles. When the resolutions were
agreed to, be !wort-mica to take measures to carry them into
elect; mid the proposition had been considered with candour.
But is point of feet no bidding. had been made, though many
communications from several bodies had taken place. He now
hoped to submit propositions that would give satisfaction. He
proposed that the charge should be separated ; that trustees
shoeld be named by and under the contronl of Parliament ; and
if any gain should result from the transaction, the benefit to go
to the public.—Tbere were to be invested in the hands of those
trustees the sum of 2,800,0001. calculating the rite of interest
at 31 per cent. That brought the annuities to the amount he
had stated. He had taken the calculation at 100,0001. less
than what the biddings might have been—a matter to be re-
membered when they considered the remission of the tax. To
superintend the annuities to be created, there were to be four
trustees, the Chaireellor of dm Exchequer, paymasters, S:c.—
His third resolution regarded the means of carrying the plan
into effect, to make certain sales, or the Treasury to advance
Exchequer Bills. The plan would thus operate advantageously
when the long annuities had been created. The dividends were
to be paid in October and April—and thus means for the January
and July payments would be provided. In five years the
anmant to be met would be reduced to 4,100,0001, The annui-
ties to be lodged is the hands of trustees would, in time, inert
the charge in its reduced form. The whole plan would of
course be connected with the sinking fund.—(Hear.)—No sum
however was to be taken from the commissioners; the five
millions were to remain unimpaired in their hands. That sink-
ing fund was not to be touched. By the plan there would be a
easing to the public 0f2,200,0001.—but the remission of taxes
conhl no+ be to that amount, as there were some growing.
charges to he provided for—but 400,0001. it was calculated
would answer the put pose. That sum, the 400,0001 he should
propotte should he added to the sinking fund till it should be
wanted ; it would (hue operate to reduce the debt and Ow
the burden of the country. Ile might be considered as haling
anticipated the resolutions before be came to the particular
views of the government; and with Hue ultimate views he had
proposed that certain tax hills should he referred to the com-
mittee. Is the first place. there was no tax that it was ►o de-
sirable materially to reduce as the salt tax.—(Year.)—plc
should propose to give op thirteen shillings out of fifteen.—
Hear.)—The tax at present produced 1,51%0001. ; the re-
daction would amount to 1,300,0001. He also proposed the
duly in Scotland from Os. to 2s. so that the dote worth' be the
same in England, Scotland, and Ireland. lie likewise proposed
to repeal the Irish hearth sold window tax, producing hardly
230,0001., the leather tax laid on in 1812, producing 300,0001.
the tonnage on ships homewards and outwards, producing
160,0001. These repeals and reductions would be altogether
2.000,0001. (Cheers,) He concluded with moving the follow-
ing resolutions :-
1. That is the opinion of this Committee, that for the pur-
pose of apportioning, conformably to the resolutions of this
House of the 3d day of this instant month of May, the burden
occasioned by the military and naval pensions, it is expedient
that an equal anneal annuity of £2,800,000 terminable at the
end of 43 years, should, from the sth day of April, 1822, be
seated is trustees to he named hr Parliament ; and that the
said amenity should be charged upon the Consolidated Fund of
the United Kingdom of Great Britain and Ireland.
2. That it is the opinion of this Committee, that the said
trustees should pay into the Exchequer the several annual sums
hereinafter mentioned. by four equal quarterly instalments, on
or before the 15th January, the 13th April, the 13th July, and
the 20th October ; the first payment thereof to be made on the
20th October, 1822.--(llere follow a series of annually de-
creasing sums, from £4,900.000 in the ensuing year to
£300,000 in the year ending the 15th July, 1867.]—And that
the said several sums, or such part thereof as may he necessary
shoolti be appropriated and applied conformably to the said re-
solutions.

3. That it is the opinion of this Committee, that for the pur-
pose of enabling the said trustees to make the several pay-
ments bereinbefore mentioned, at the Exchequer, at the several
periods aforesaid, they should he empowered, from time to
time. to sell and dispose of so much of the said annuity as may
be necessary for that purpose, but so as that no greater amount
of annuity should be sold or disposed of, in any one year, than
would be sufficient to raise the sums necessary to complete
the whole of the payments to be made within the year, or to
disolivrge and pay the principal and interest of any Exchequer
bills which rosy have been issued on account of such payments.
4. That it is the opinion of this Committee, gist for the pur-
pose of enabling the said trustees the more readily to provide
the means necessary for making the said payments, in the most
convenient and economical manner, the Commissioners of his
Majesty's Treasury should be empowered to issue, to the said
trustees, Exchequer bills, to an amount not exceeding the sums
necessary for completing from time to time the said payments ;
which Exchequer bills, together with the interest thereupon,
should from time to time be discharged and satisfied by the said
trustees out of any loonies to arise by the sale of the said
cunuitius, or out of the dividends thereof ; and that, until such
payment, the interest accruing on such Exchequer bills may be
paid out of any supplies voted by Parliament.
Mr. Calcraft, Sir J. Newport. &c. congratulated the House
. . . .

is hating elrected these reductions.
Mr. HUME wished that the taxes had been repealed alto-
gether, as the collection of those duties cost upwards of
&40,000 a year. He also wished that the scheme growing out
of the resolutions should be carried into effect by the sinking
Fund Cmuinissio era , that would save the expence and ma-
cbinery of new Commissioners. He concluded with moving as
Cr, amendment, that the £2,00.000 that would be wanted fur
the next 16 years. should be taken from the Sinking Fund.
Lord LONDONDERRY opposed thin proposition, and said
that the reductions of taxes were Mt the result of opposition,
but the consequence of sopped the government bkd experi-
enced.
Mr. WILLIAMS was in favour of the amendment.
Mr. CRIPPS supported the original resolution ; as to the
proposed repeal of the Salt Tax, he was convinced, toshss
►omething was said to explain it to the public, they would de-
live hut little advantage from it.
Captain MADENLEY was in favour of taking the money
warted from the Sinking Fond.
Mr. 31 ARUN was of dm saineopinion,
The gallery wa! then cleared for a dibition on Mr. Hume's
amendment-- For the resolution of dm Chancellor of the Ex-
c!le•ptcr, 114. —for Mr. Hume's srae•utlment 33—Majority for
`eimsteis 60

THE NATIONAL REGISTER

Several other resolutions, as to the mode of paving the en-
nuiiants. &c. were put and agreed to.
The noose resumed, the chairman reported progress, sad
the report was ordered to be received on Thursday next.
The American Trade Bill and the Colonial Trade Bill went
through committees.—Report on l'ridey nest.
Mr. MARTIN moved the second reading of the 111-treat-
ment Animals' Bill.
The ATTORNEY-GENERAL moved that the Bill should
be reed a second time this day six months.
Upon this amendment a long conversation followed.
The House divided. For the amendment for the second
reading 79, majority in favour of the bill 11. The bill was
then read a second time. and committed for Monday week.
Adjourned at 12 o'clock to Thursday next.

FROM TUESDAY SVC:DT'S GAZBTTE,

BANKRUPTCY SUPERSEDED.
R. W. Dean and T. W. Cooke, Bethnal Green, brewers.
BANKRUPTS.
_ _ _ _ _

..... _ _
J. Heys, Stockport, Cheshire, draper. Solicitor, Mr. Bettye,
Chancery Lane.
I. Blythe, Wellington, Shropshire, draper. Sols. Messrs.
A dlingun. and Co. Bedford Row.
W. and H. Breedon, ltuddington, Nottinhaunshire, dealers in
horses. Sole. Mtssrs. Long and Co. Gray's Inn.
W. Colson, Plymouth, grocer. Sols. Messrs. Swain and Co.
Ohl Jewry.
J. Joplin, Sunderland, linen draper. Sols. Messrs. Bell and
Co. Bow Churchyard.
T. Newton, Holbeach, Lincolnshire. and W. N. Newton,
West Walton, Nortolk„ jobbers. Soh. Messrs. Willis and Co.
Waunford Court, Tlaroganorton Street.
J. S. and A. E. Fowler, Liverpool, merchants. Sol. Mr.
Taylor, John Street, Bedford Bow.
W. Pensold, Cluttom Somersetshire, budder. Sol. Mr. Bu:—
foot, Temple.
J. Collins. Vincent Place, City Road, broker. Sol. Mr. Fen-
ton, Austinfriars.
T. Kent. Karton Holme, Lincolnshire, butcher. Sols. Messrs.
Jenkins and Co. New Inn.

.1. and W. Dodd, Kirkoateald, Cumberland, grocers: Sol.
\lr. Badye, Chancery Lane.
W. Humphreys, Billecdon, Leicestetsbire, draper. Sols.
Messrs. Moore and Co. Nov Square, Lincoln's Inn.
%V. Gibson and F. FIIMIII, Trinity Square. corn factors. Sols.
,Messrs. Parnther and Co. London Street. Fenchurch itreet.

E. Fulton, Earl Str:er, Blackfnors, coal tuercluutts. sul. Mr.
Bowman, Union Court, Broad Street.
DIVIDENDS.

May 25, A. Kelly, Colonnade, Pall Mall, jeweller-25, T.
Mulligan, Bath, silk mercer-25, P. Young, jun. and It. An-
derson, %Yapping. sail makers—lune 11, W. Ambrose, (lepton,
&open ter—i I, .1. Gregory, Blackwall, butcher-1 1. It. Needham,
Queen's Buildings, Brompton Road, silversmith-11, R. Lincoln,
St. James's. Street, hatter-12, R. Sallows, Hadleigh, Suffolk,
grocer—lS, S. Leigh, Strand, bookseller—z), R. Reynolds,
Shobrooke, Devon, tanner--12, C. Martin, Great Yarmouth,
linen dzaper7-4, S. Humphreys, Charlotte Street, Portland
Place, merchant-7, T. Tipping, Warring on, miller—l 3, T.
Freame, Worcester, cabinet maker-12, W. Watkins, Worm,.
ter, corn factor-12, It. APKay, Knittsford, Cheshire. liner.
draper-12, .1. Smith. F lirewsbury, linen draper-14, W. Wilson,
Gateshead, Durham, ship owner—ll, T. Perkins, Manchester,
and S. Armstrong, New Mills, Derbyshire, cotton spinners—IS,
J. Cook, Helmsley, Yorkshire, merchant-21, E. Mason, Wor-
cester, tea dealer, and J. Penn, Birmingham, soap boilers.
CERTIFICATES to be granted June I I.
.1. Ripley, Wapping High Street, mathematical instrument
maker—P. Reynolds, King Street. Southwark. cluntunan—W.
Banton, Nonhwich, Cheshire, grocer—C. C. IVright, Crooked
Lane, upholder.