The British Press; or, Morning Literary Advertiser.
London, England, 1818-04-21 00:00:00

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recur., The Charge on 40 millions in Exchcqoer
Bills *as upwards of 1,600,000/. while the new
plan entilllld stn eipenie of 1,183,0001.; and one
moat materiel objection he had to urge. was the
applicability of the Sinking Fund to pay off the
iiiterest4 which was the worst possible way of ap-
plying it; the saving, therefore, which they bud
heard an'hithly prised, was, in fact, payable out ~f
the Sinking Faisul. He concurred in the im-
mediate sieeessity of preparing a permanent Ilium-
, vial plait for the consideration of the House, in-
stead of trying. to postpone. the evil day by a talc-
Cession .or inefrectiial expedients.
Mr. C. Glans`, juii. insisted that there was no-
thing novel or unprecedented in the arrangement
of his night lieu. Friend. It was the same that IA
been acted pOog itu a larger scale by Mr. Pitt, the
great author of the Sinking Food, when he created
the .1 tier centi: the iint!rifect and int-
'wink pun of inereasing the nominal plan without
a closer referent* to the amount of the real debt.—
By the proposed plan 30.000,000/. was raised, hy
creating a eapitill something exceeding 34.000,000/.
The expense was at the rate of 128!. stock; though
by any other plan, and taking the stocks in the
most favourable light at 80, it would hive cost at
the rate of 1381. It was unfair to take the general
calculation by. piece-meal. instead of looking at it
as a whole, and under the circumstances in which it
was taken. There was, in fact, a oaring of
90,0001.. in the mode of raising the money. besides
am ineretne of cannel, and its favourable couse-
queoces oat the funds. The Hon. and Learned
Gentleman recapitulated some of the details of the
plan. us stated by the Chancellor of the Exche-
quer. and expressed his warm approbation of its
merits.
Mr. LYTTE !SON could not give his intent .to
one paiiicalsir hart in the Budget—the Lotteries.
It was most extraordinary, that at the time the It‘ght
Host. Gentleman wai. voting 1,000,000/. for the
building of new churches, Ise was shirt inconsi.t.
roily wiling Lip uew Lotteries, or rather establish-
ing gainiaig4iouses all over the country. The
Right Mob. Gentletium had described himself as a
hardened sitner-1111W. on the cootisiy. He (Mr.
Lytteltots) thought lino a my? vane, and one that
bent his, conscience to suit the ends or his,policy.—
(Longhter,)—Ditfering, however, as he did, iu his
notiMis of Morality trout the Right Hon. Gentle-
man, he would still persist' in his iisteiition of press-
ing. the abolition of Lotteries on the attention of
the House.—(lieur; /tear;;)
Mr. PAENFELI. wilted to ask sire Right Hon.
Gentleman a question ott this subject. Suppose
the three per cents. at 80, and the 31 at 91, it would
be a decided advantage to Coni4o,sioiKts to
Isurchake in the latter ; under lieliciii:unistaiices,
and a compaVatiie difference of 1 a would not.the
Bight /lon. Gentleman advise the Commissioners

to purchase in the 3i per cents. ?
The eitimcm.i.ost of the Excuviruma replied,
that he ought not' to be called upon to state what
advice he may give the Coiumistioriers; but he had
no objecticht to state that it would be advantageous
for tilts and the next year to purchrarg in the
Sipe,. cents, but not to appropriate the whole of
their fun& in that channel.
The Keiolutioris of the CuAticet,toit of the
EXCHEQUER were then put and passed: