The Sun.
London, England, 1834-08-09 00:00:00

ought to fall. The fault was in him if business had not been
properly pushed. It was, he admitted, very possible—nay, he
knew nothing more possible—than that he ( Lord Althorp)
had not conducted the business in that House in the best pos-
sible manner; but of this he was sure, that he never inter-
rupted its due course by long speeches. —( Cheers and laughter. )
It was not by addressing the House oftener than his duty re-
quired--or by the length of those addresses—that the business
of the country was impeded—(Hear)—and if it had been im-
peded, he ( Lord Althorp) really did not see what course he
could adopt to remedy the evil. If, as had been suggested, he
were to bring forward half a dozen important measures at the com-
mencement of the session, and to throw them at once upon the
table, the only effect would be, that they would be obliged to
abandon most of them, while the progress of those which
were pressed forward would be impeded to a very inconvenient
degree. He, therefore, considered that it would be the duty
of the Government, first to select the measures of the most
pressing urgency, and then to adopt the requisite steps for
preventing any unnecessary delay to their discussion and pro-
gress through the House. He was not enabled, at the present
time, to state what were the most important measures, but he
could assure the Hon. Gentleman that the Government were
resolved to introduce such as were necessary for carrying for-
ward, in a temperate and proper manner, the reform which he
(Lord Althorp) admitted was required in various establish-
ments of the country. He sincerely hoped that the measures
which they should introduce would be such as to meet the
approbation of the House. The Hon. Gentleman had stated
that the Government ought not to heed any slight obstacles
which they might find in their way: he (Lord Althorp) would
only say in reply, that their conduct, in regard to the Poor
Law Bill, was not such as to afford any ground for the obser
vation of the Hon. Member. As to the different details of
the estimates which had been referred to, he did not think it
necessary to enter upon them, but he would admit that it was
undoubtedly the duty of Government to make reductions in
the establishment, as far as was consistent with the public ser-
vice. In conclusion, he should only observe that the Govern-
ment would take care that in every department, either of col-
lection or expenditure, the most efficient economy should be
observed.—( Cheers.)
Mr. PR YME trusted that a satisfactory adjustment of the
tithe question would be taken into consideration. Such an
adjustment was of the utmost importance both to the landlord
and the tenant.

Mr. NV. PETER concurred with the Honourable Mem-
ber as to the importance of settling the tithe question in
England.

Mr. T. ATTWOOD said that the interests of the clergy
were secondary, as compared with those of the farmer.
Mr. E WART suggested that the indirect taxation of the
country should be apportioned to the various classes of the
community, in a manner more approaching to the ad valorem
system. There were many articles used by the poor, which
could be easily distinguished from articles of the same cha-
racter, but of abetter quality, which were consumed by the
richer classes ; and if an ad valorem duty was levied upon them
it would be like an indirect property tax.
Mr. R. POTTER hoped that the circumstance of the
Dissenters not having pressed their claims this session, would
not be against them ; but that the Government would feel
itself bound to place the redress of their grievances among
the foremost of its measures.

Mr. WARBURTON trusted that the Government would,
early next session, propose the abolition of all taxes on
knowledge,—printing, pamphlets, newspapers, (" malt.")
No, no—( A laugh)—he would say nothing about malt at pre-
sent. With regard,„ to these taxes on knowledge, their effect
was to transfer the instruction of the humbler classes to persons
destitute of moral character, who scrupled not to infringe the
law, and mislead the people.
Mr. BAINE S said that a general system of education
should be adopted, so as to diffuse useful knowledge through-
out the country.
The Bill was then read a third time.
CHARITIES COMMISSION.
Mr. HUME inquired of the Chancellor of the Exchequer
what were the intentions of the Government with regard
to the Charities' Commission, which the Noble Lord
must be aware had expired. He (Mr. Hame) was
afraid, unless some measure was adopted to complete the
inquiry into charities, that the expense to which the country
had already been put, and which amounted to upwards of
150,0001., would be entirely lost. He thought that it would
be advisable to put the matter into the hands of one or more
individuals for another year, as such a course would not be at-
tended by much expense.
Lord ALTHO RP agreed with the lion. Gentleman that
it would be a great pity if the inquiry which had already been
made were lost, but he was unable, at the present, to suggest
any course of proceeding.
BANK OF ENGLAND DEBT.
On the motion that the Bank of England (Debt) Bill be
read a third time,

Mr. T. ATT WOOD said, that in his opinion, this Bill
would provide the Bank of England with the means of playing
with the national finances. He hoped that the Noble Lord
would keep his eyes upon the directors, and not allow them to
contract or extend the circulation for their own purposes, and
against the interests of the public.
Lord ALTHORP said, that he did not believe that any ill
effects would ensue from the payment of this portion of the
debt, which was due to the Bank of England.
Mr. HUME said he had no such apprehensions as the
Hon. Member for Birmingham; but his objection was, that
this had been a private transaction, although there was an Act
of Parliament to prevent a Chancellor of the Exchequer from
borrowing privately. If the Chancellor of the Exchequer
required three millions.and a half to pay off a certain portion
of the Bank debt, he ought to have afforded a public oppor-
tunity to all parties to come forward with their offers. He had
seen it stated that there had been a breach of confidence with
regard to the annuities. He would only observe at present
that if any one body, public or private, had had an opportunity
of benefitting themselves to the full extent which the public
at large ought to have benefitted, it was highly improper. In
the next place, some explanation should be given respecting
the terms of the annuities, as they had generally been consi-
dered a ruinous system above a certain point.
Lord ALTHORP said that the Hon. Gentleman was mis-
taken when he said that the transaction in question was con-
trary to the law. With regard to the privacy of the bargain,
he had been actuated by a desire not to throw the Money-
market into confusion—( Hear, hear)—and he did not believe
that he could have borrowed the money on more favourable
terms than those on which he had made the arrangement with
the Bank. With regard to the annuities, he was not sorry
that the Hon. Gentleman had mentioned the subject, as he
wished to give some explanation respecting them. There were
two classes of annuities--life interests and annuities for terms
of years. With regard to the former, they were not so disad-
vantageous to the public as had been generally supposed. It
was, indeed, suspected that certain annuities had been pur-
chased upon lives at the older ages, and that the parties so
purchasing had gained an advantage over the Government.
Inquiries had been made, and it was believed that this advan-
tage had been taken on lives of, and above, eighty years. The
Commissioners, in consequence of these inquiries, had deter-
mined to exercise the power which they had of refusing any an-
nuities that were disadvantageous to the public, and accordingly
they had refused them on ages above sixty-five, unless the party
applying wished to insure his own life, where there could
be no speculation. With regard to annuities on younger
lives, they were rather advantageous to the public. As to the
second class of annuities, they were by no means disadvan-
tageous ; but where a very large amount of permanent debt
was converted into annuities for a term of years, the annual
charge on the public was raised to a very inconvenient amount.
A short time ago the Commissioners finding that there was a
danger of too large a sum being converted into terminable
annuities for a short term of years, gave notice that in no one
quarter should a larger sum than 500,000/. of capital stock be
converted into annuities for a shorter date than would expire
in the year Is6o. With regard to the alleged breach of con-
fidence, none had taken place, a public notice having been put
up at the national debt office as usual; but the Bank of Eng-
land did convert 500,0001. at once into annuities for a term of
ten years, which, in consequence of the arrangement he had
referred to, absorbed the whole amount that would be con-
verted during the quarter. That was the whole case.
With regard to the system, he thought that so long as
the pressure on the public was not very great, it was an
advantageous mode of reducing the public debt.—(Hear.)
He would illustrate this by some returns which he
had procured in expectation that the Honourable Gentleman
(Mr. Hume) would allude to the subject. In the half-year
ending 1833, the amount of interest paid on the permanent
annuity or debt, amounted to 12,233,948/., and in the half-
year ending July 1834, to 12,186,3611., whereby there was a
saving of 45,7771., or 90,0001. a-year. The terminable an-
nuities amounted, in the year ending 1833, to 1,600,741/.,and
in the half-year ending July 1834, to 1,783,9661., making an
increase of 183,2251. in the half-year, and causing an increase
of somewhere about 37,000/. a year. With regard to the ter-
minable annuities, the country might look forward to conside-
rable relief. The following sums would fall in in 1840, 60,
and 67

In 1840
1860
1867
To these sums might be added 800,0001., which must fall in,
in a short time ; and thus nearly 3,000,0001. of annuities must,
in a moderate space of time, accrue to the benefit of the pub-
lic. He thought, after this statement, that the House would
agree with him that the conversion of permanent and termi-
nable annuities was the best plan, provided the annual burden
to the public was not increased to toogreat an amouut.
The Bill was then read a third time.
The reports on the Exchequer Bills (Public Works) Bill,
and the Sessibnal Addresses were brought up and received.
The House then adjourned at Nine o'clock.

A SEASONABLE HINT.—The season having ar-
rived when, among other pre-disposing causes to intestine
complaints, we may rank the free and almost irresistible in-
dulgence in fruit, the necessary consequence of which is an
increased demand for pure Brandy ; it may not be amiss to
renew in the recollection of the public the knowledge of the
fact that, during the prevalence of the Cholera in 1832 and
1833, one of the greatest safeguards was found in the use of
BETTS' PATENT FRENCH DISTILLED BRANDY ; which, upon
the acknowledgment of many of the most 'eminent medical
men in London and elsewhere, was declared to, exceed French
Brandy in its medicinal properties. One reason which alone
sufficed to justify this preference was the entire absence, in
the Patent Brandy (as certified by several of the most distin-
guished chemists), of those acids which are known to exist in
the foreign spirit ; and which extensively counteract its other-
wise beneficial qualities. J. T. BETTS and Co.'s sole esta-
blishment is at the Distillery, No. 7, Smithfield Bars, where
the Patent Brandy may be obtained, either Pale or Coloured,
in quantities not less than Two Gallons, at 18s. per Imperial
Gallon.