The Sun.
London, England, 1806-04-01 00:00:00

-investigation. That provision Was a proof th.at there
was something wrong in the system, 'air everything
was not exadly squared, but did not warrant the. de-
duaion of the Honourable Gentleman. As to the
remedy pointed out by his HonourakleFriend, he per-
fetly nreed with him in his 'views on that subjed,
'ext4.2t that he did not think it the only remedy. He
could see no reason why the issues in• specie should
not be resumed. He knew not what was intended

on that head, but he should bear much stronger ar-
gurnents, than he had -ever before heard, or his opi-
nion would' remain unalterable. He had thus gone
through all the
.oeneml topics touched upon by his'
Hon. Friend. As to what he. had stated with respeft
to the Property Tax, he shOUldonly say, that his own
great objection, and oOe which he bad last year
urged, was against the gradual increase of it.' He
thought it far better, that_ at the' cod ineficement
Of a war it should be
-'carried to the full amount
to which it would. be 'necessary to carry it, than
to increase it gradually. As' be was on the snb-
je& of the War Taxes, he should add,-that the
present Administration foo-Pclihe system in effe&.—
It would be madness in theM.tO overturn it. It was
his favourite plan, that at the commencement of a
War, wl.atever WarTaxes.siimild be thought-neces-
sary or desirable in the circumstances of the Country,
should be imposed at once for fohr or five 'years,- to
ascertain their operation, and not be raised from'year
to year.. In this. view the Property Tax now pro-
posed had his coniplete approbation.-:—The Country.
.wanted large taxes He 'Should nor enter • into the
general, merits of the Budget, though lie believed the
taxes proposed by his Noble 'Friend Were liable to'
as little objeCtion as any other. -He-was' sure hi
Noble Friend was ,entitled to his gratitude, and that
a the Country, for *having undertaken the arduous
duties of the office he filled under such eireuniqanCes
of difficulty; and, though.he assumed the office at
such an age, what passed on a former night sheaved
that he had not accepted of a situation to which he
Was not fally competent.
Mr: FRANCIS, in explanation, said, he still saw
no security against a ftirther augmentation of the
rioperty Tax.
ivr. Secretary FOX, in explanation, said, he still
saw no reason to retra& One word of what he had
said in praise of his Noble Friend's statement.
Mr. HUSKISSON was pleased .with the perfe&
good humour with which this debate was marked,and
trusted it would prevail throughout. He did not think
the advantageous bargains that were now made for
loans to be attributed altogether to the. Sinking Fund,
but rather to the system of raising a great part of the'
-supplies within the year.. In the year:l79B the rapid
accumulation of the public debt, from the expences
-of the last. war, rendered it necessary to a& upon
that wise and patriotic principle. In the year
before that 4 small loan could not be had on any
better terms than an interest of 61. 105. 6d. though
the Sinking Fund bad been in. operation long be-
fore that time. .The Sinking Ftind added t per cent.-
to the capital of the debt ; but it had not then the
etre& the. Hon. Gentleman imputed to it, of keeping
the Stocks at 00. That public. benefit was, there-
fore to be imputed, in.a great measure, to thesystem
of raising so much of the supplies within the year,-.e.
-With respe& to the Opposition that the interest on
Exchequer Bills was not mad.e prods aive to the Pro-
perty Tax, he had to observe, tlaat,abovoal( the
Outstanding Exchequer Bills were held by the Bank,
much to the public advantage, and of course did not
escape the tax. The statement of- an arrear of;
5,860,0001. remaining from theilast yegr had made
21! -impression, as if the :Ways and Yeaans voted
.for
that year had fallen unaccountably short, -or the ,
expences had far exceeded, the Estimates ; as, if his
late Right Hon. Friend had shrunk from his duty,
either in concealing the extent and amount of the
services, or in exaggerating the probable-produce of
the public income. The deficiency in the land' and.
malt was a regular and annual thing-ever since the
-laud
and malt duty had been voted; therefore it was not to.
be charged as an unaccountable arrear in the Estimates
of'the last. year. The extra Charge fbr ordnance was
also an annual thing; the deficiency under this head in
the last year, though so much as 561;0601. was shert,
of the average deficiency.. The amount of this deficien-
cyin. thepreceding year was 60,0001, It was pi Oba-
,ble a deficiency to the same extent wOuld.ocettr at
the 'close of this •year, and the Noble LOrd'Would do
well to preparehimself to .expe& it. . It would' have
been more correct, to have. stated the chargeg
- had been inaccurately; he was sure not hividiodsl3.',.
described as arrears, rather, as e;Xtiaordinary charges,
not likely to occur again: • Sikh was the.million to
the East India cola-1y such the prOVi.sion fc-)
Lord Nelson's family, an. instance Airppgrto,which
had occurred-but once in the la'st Century; such was
the remuneration for' the loSs of, the ships taken in
the Battle of Trafalgar, in - every, one would
readily concur..-: Next as. to the subsidy.. The
statement of- the Noble - Lord,• in -speaking .of
the million required-. by him for tins bead of
service, gave it -to' be understood, • that the
2,5 00,1001.• Voted. for the Service had been previously
- expended. ,The fat was, however, that there was,
on the sth ofJanuary last, 1,080,0001. of this sum in
the Exchequer, 500,0001. untouched at- Malta; and
'200,0001.at Hamburgh : and though 0)00,0001. of
-what -was in' the Exchequer had been .since appropri-
ated to Navy-Services in the early part of this year; it'
was not right to. liemand'a fresk million without an
explanation, as if the original grant had been ex-
' pended under its properhead in the:last year: • The
only casein which it could be Charged; was the falling
aaff in the consolidated fund, But it-was probable,
from the receipts 'of this quarter, that the.surplus of
4,0000001.. w0u1d..40 yealiza The lafter„, which
had been calculated at :300,0001. had prodUced
380;0001. It would tend much to give a fair view
of the grants and expenditure *of, each year, if the
accounts of both were dude up to, the same period,
land the balances on hand carried. to the credit of the
next year, and the outstanding demands to the
charge. -.At, present, the yor of service ended op'
the sth January, and the year cif receipt on the„sth,
of April following. He. supposed this; pra&ice :bad
originated in -some years, of great charge, when it
was an obje& to have five quarters of receipt to meet
the form of elinefialture ; but in faiiiieSS both_ ought
to be reduced within the same limits, and he meant
shortly to submit to the Houst! some Resolutions to
that effea. The Grants now vhted were large 3 they
were forthe service of a whole year, and. a great
part of that year had already elapsed,• and the
charges incumbent On it had been -in many respects
41eff.ayed. Vvltimit intttling thVpreient
Admini-
:4

4,st