The Sun.
London, England, 1822-05-04 00:00:00

was still more considerable. Gentlemen on the other side had
all become exceedingly jealous of the interest of the Sinkii%
Fund, and said that this plan was an encroachment upon it.
A short illustration would shew the error of this supposition.
The existing fund of 5,000,0001. was applied to the extinc-
tion of 800,000,0001. of debt. If they took away 2,000,0001.
of that Sinking Fund, they, would destroy the operation of
that amount upon the National Debt. But if they took
2,000,0001. by this plan,'• from the dead expense, it would
have nothing to do with the interest upon the National debt,
because it was a new kind of debt, and which would expire
at the termination of a certain number of years, whether
the contract was made or:not. Although it was no en-
croachment upon the Sinking Fund, it was quite possible that
the money might be taken out of the market. But so it
might in the contract lbr a canal, or for foreign loans. This
was a possible evil to which such transactions were all liable
in common. The Hon. and Learned Gentleman had also made
a calculation as to the 'Sinking Fund. He proposed that it
should operate at common interest only, and th‘at it would
thereby give 2,500,0001. of taxes to be repealed in the first ten
years ; in twenty years 5,000,0001. and in thins' years
10,000,0001. Now the measure of his Noble Friend would
provide for the reduction of 12,000,0001. at the expiration of
30 years ; and upon every succeeding • ten years it would give
an excess of saving over his of 1,500,0001. With regard to the
taxes to be reduced by the operation of the general plan, it
would not be expedient to come to any determination upon that
point at present. Nothing could be more unwise than to fix
upon any particular tax at present. It would tend to embarrass
the course Of trade and be very injurious to general interests.
The effect of the plan would be to place at the disposal of Par-
liament 1,800,0001. of :axes, to be remitted either this Session
or in the beginning of. the next. While they were upon the
subject of taxes, it might be as well to look at what had already
been done in the way of remission since the peace. The
amount of taxes taken off was 20,000,0001. ; and if the remis-
sion of taxes Was that great panacea for distress which it was
represented to be,- to What a degree were the country indebted
to Parliament for this
_very extensive remission. With regard
to the terms of the negociation, he was not so young as to sub-
mit such a measure to the loose without some prospect of
being able to effect it. Ile had the satisfaction to state, that-it
was not likely to be con fined to one person, but that it would
be open to public competition.. Were they going to make a
wise or an improvident use of the money to be raised by this
annuity ? It was to be applied to the reduction of taxatiota
and if Hon. Gentlemen were not satisfied with that, they had
better suggest some other use for it. He entirely disagreed
with the proposed amendment.
Mr. BROUGHAM explained,
Mr. J. P. GRANT argued that the profit of the contractors
must be the loss of the nation. He supported_the amendment.
Mr. JONES supported the Resolution. He trusted that
whenever it was proposed to retrench taxation the remis-
sion would he entire, as he objected to any partial remission.—
(Hear, hear !)
Mr. CRIP?S explained.
Mr. D. _BROW:a E said, he considered the amendment as
calculated to,embarrass the Government of the country, and he
therefore should vote in favour of the original motion.
Mr. BENNET said that even before the discussion of the
subject he had had no doubt as to the side on which the Hon.
Gent. (Mr. D. Browne) would vote. Many proposed reductions
in the public expenditure would have been carried in that
House had it not been for the Right Hon. Gentleman, and
those who, like him, universally voted for the measures of his
Majesty's Ministers. In his (Mr. Bennet's) opinion, the
whole of the Sinking Fund should be applied for the relief of
the public. All that die-public creditor had a right to demand
was the payment of his interest.
Strangers were then ordered to withdraw, and the House d
vided ; when there appeared—
. For the original Motion
For the Amendment
Majority
CATHOLIC PEERS.

- 135
• 56
-79

On the motion of Mr. CANNING, the Catholic Peers' Bill
was read a first time, and ordered to be read a second time this
day sennight.
The Warrants of Attorneys' Bill went through a Committee.
The Report was received, and ordered to be taken into further
consideration this day se'nnight.
The second reading of -the Warehousing Bill, the Colonial
Trade Bill, and the West India and America Trade Bill, was
postponed to this day fortnight.
-The Report of the Irish Malt Duties Repeal Bill was brought
up, the amendment's agreed to, and the Bill ordered to be read
a third time on Monday next'.
_ GRAND JURY PRESENTMENTS.

On the, motion of Sir J. NEWPORT, a Committee was ap-
pointed to inquire into the present State of Grand Jury Pre-
sentments in Ireland, with a-view to. amore exact distribution
of the taxes assessed under the same.
BANK CHARTER.

Mr. GREN'FEL-1, moved that there should be laid upon the
table a copy of all Correspondence between his Majesty's Go-
vernment and the Governor and Directors of the Bank of Eng-
land, relative to the renewal or extension of the Bank Charter.

111 r. LUSH INGTON said, he thought the production of
the Correspondence was unnecessau now. The whole would
come before them when the question of renewing the Charter
should be submitted to the House.

Mr- GRENFELL thought the production of the Corre-
spondence important at the present .moment. if his lion.
Friend (Mr. Lushington) could offer no better reason for with-
holding those documents, he should take the sense of the House
on the subject.
Mr. J. SMITH said, that the difficulty he felt was, as to
the extent of the Correspondence. This motion went to the
produCtion of the whole. He had not faith enough to believe
that there was only one letter. '
Mr. MARRY AT said, it was important that the House
should have the whole Correspondence before them.
The motion was agreed to withcut a division.
ALIENS.

On the motion of Sir R. WILSON., a Return was ordered
to be • laid on the table of the number of Aliens now in the
kingdom.

'The other Orders of the Day were then disposed of, and the
House adjourned at Eleven &Clock.

ARTISTS' GENERAL BENEVOLENT IN-
STI t UTION.

This Society held its Eighth Anniversary Dinner yesterday,
at the Freemasons' Tavern. The Earl of LIVERPOOL, in
' the absence of the Dukeof YORK, presided.
A numerous and distinguished company attended, all of
whom appeared anxious to testify, by their support, their fa-
vourable opinion of the merits of the Institution. Atnong the
visitors we observed the Duke of Newcastle, the Earl of 4le-
sinton, Lord Henry Russell, and many other noble characters.
All the principal Academicians were present. Messrs. Broad-
hurst, Taylor, and Smith contributed their vocal exertions.
After the usual routine of toasts, s
The Earl of LIVERPOOL rose to propose one which, he said,
would be agreeable to the Gentlemen assembled---" The Pros-
perity of the Institution."—(Applause.)—He felt that it had
high claims to public, patronage, as well as to private Support.
The proudest triumphs of .the country descended to posterity
through the medium of the Arts, and surely they must all feel
for the distresses of any of their cultivators.—After some further
observations, which were attended with much applause the
Noble Lord. proposed the toast of " Prosperity to the Insti-
tution."
On the Eirl of Liverpool's health being propOsed, with ac-
clamation, he -expressed himself much flattered with the ap-
probation
of the Gentlemen present .1_ he, as well as they, had
occasion to regret the absence of his Royal Highness the Duke
of York,;who was much interested for the welfare of the Insti-

tution, ar.d who was prevented attending by a cause they would
all lament, :that of severe indisposition:
On the health of the Members of the Royal Academy being
proposed,
Sir TIIO3IAS LAWRENCE •returned thanks, and congratu-
lated the , Meeting on its numerous attendance. They must be
all conscious of the obvious advantages to be derived from the
attendance of their illustrious visitors that day. He would
be always happy to co-operate is exertions to promote the ob-
jects of the Institution;

The• toast of—" The Marquis of Stafford- and the British
Institution," was received with rnuchapplause.
The health of the Chairman and Directors, of the /nstitu-
tionyas then given ; on behalf:of whom

Mr. TunNiirt. returned thanks;
The health of the Stewards was then proposed.
Lord STO*ELL returned thanks.

• The Earl of BLEstrzTox asked permission to give a toast
out of the usual routine. He was'convineed that-the company
would join him with much pleasure in drinking to the health
of his Noble Friend Lord Stowell.

Lord STOWELL expressed himself grateful for the honour
done him.

The Earl of IdvEßpooL, announced that the collection re-
ceived in the room amounted-to 5001.—(Much applause.)—
He then proposed the health of- the Noblemen and Gentle-
men-Who had contributed to it by their donations and presence
that evening—he would particularly name the Duke of New-
castle, the Earl of Blesinton, and Lord Henry Russel.
Each of these Noblemen returned thanks, and their observa-
tions received much applause.
The Noble CHAIRMAN nextproposcd the health of a Gentle-
man who was one of the most liberal contributors to the Insti-
tution. He would say so without meaning any disrespect to its
other supporters. He proposed the health of Mr. Soane.
Mr. SOANE returned thanks very briefly.
[We left a large number of Gentlemen together, who ap-
peared anxious to keep up the festivity of the evening.]