The Sun.
London, England, 1826-05-05 00:00:00

THE LONDON JOURNALS.

VAMY •EXTRACTS FROM THE MORNING PAPERS,

MAY 5, 1826.

Ella TimEs.]
'The tong list of Resolutions submitted last night
by Mr. Hume to the. consideration of Parliament con-
tains a series of propositions, among which ate to be
found 'some of the most important that can be sup-
, posed to affect the character o£ a Government, or the
financial and political interests "of 'a nation. As_ the
-Hon. Gentleman rests his arguments on figures—in-
deed, on figures arranged and
,made public by the
Ministers themselves—it will not be too much to take
for granted that the working of their own arithmetic
ought- to •be'held conclusive against its authors. Two
or three of the results, therefore, arrived at by an ap-
plication of the most simple rules of Cocker to the
Treasury data thus afforded, we subjoin for the
reader's use ; premising that all the resolutions—(47
in number)—are well worthy an attentive perusal by
those who think themselves capable of understanding
the complex form of the official accounts handedin by
Ministers, and referred to by, the Hon. Membere-r
It appears then, (we shall employ round numbers,
for the sake of ease and brevity,), that although' the
Chancellor of the Exchequer boasted of a reduction
in the gross debt, funded and unfunded, from the end
of the war to the sth of January, 1826, of upwards of
43,000,0001, sterling, the reduction actually effected
(and that from the increased money Value of the debt
since the pence) being nearly a nominal reduction,
amounts to no more than about 27,000,0001. sterling.
Secondly, that the annuity created against the coun-
try, on •account of what is called the dead weight,
was equivalent to a perpetual interest of 4 per cent.
per, 3111111 m, while the Commissioners of the Sinking
\\
F'und, at'the same moment, were buying up the public
-
debt
at the rate of a little more than :3 percent. er
annum. Next, that for the 24 years of October, 1792,.
to January, 1817, the public exnenditure exceeded the
revenue by about 393,000,0001., but there were loans
during that period to the amount of 618,000,000/.,
leaving a sum applicable to the reduction of the debt
amounting to more than 225,000,000/. ; whereas,
little inure than 188,000/. altogether were paid from
the Exchequer to the Commissioners of the Sinking
purgl,, leaving a sum of -above 86,000,000/. sterling
wholly unaccounted for by the King's Ministers !
Again, that making allinvanee for a poptilation in-
creased since .1792 about 40 per cent., the consump-
,
• Lion of articles essential to human comfort has under-
gone either a positive o'r relative diminutionas, for
example, for the 10 years from 1785 to 1794, tile,
quantity of malt consigned in this country was on the
average above 257,000,000 bushels; whereas from the-
.
19 years from 1815 to 1824, (years of peace
• the consumption was. no more than ' 25,200,000
Ishels ! whereas had it kcptpaee with the population,
~.itarosild have exceed 35,000,000 bushels, per annum.
.—That instead of a compensation for the falling off
of those comforts which were derived from tnalt,being
found in an increased enjoyment of spirits, the use of
spirits also hal; deelinerWrom an average of 18,000,000
gallons in the years 1806 to 1810, down "to 12;000,000
iii theyears ithOtOlB24, while the population had in-
creased. 30per cent. So in wines there has been a positive,
and in sugar, teas, and tobacco, a striking relative di-
minution. It is stated, in conclusion, that crimes and
•pauperism. have
,lamentably acid fearfully increased.—.
And for all these evils---a complex, deceitful, and
ruinous system of finance--the immense extent of
taxation—the convulsed appearance of our manufac-
turing and commercial interests, and the decaying con-
.dition Of the people generelly—an immediate investi-
gation ought,to take place into the, causes of such ca-
lamities,: and some measures of a decided nature, re-
sorted
to, as remedies for them.

The debate which took place on Mr. Hume's motion
was chiefly remarkable for the important statement with
which it•was introduced. As that statement WIIB em-
bodied ill the resolutions which we publish in another
part of our paper, and 08 the non. Gentleman's speech
waeonly a comment • on :his reSolutions, it would be,
surperkion Yo to give any outline of. Ids observations.
lri ithistrpting his propositions respe4ting the ,late-no-
minal sinking. fund, he insistedobat instead of being i
means of reducing our debt, it was pernicious delusion.
This had, ind,ed, been done by Dr. Hamilton several
, • , , • •
years ago ; but the arguments o; fast night were un-
pOttUnt, RS they called forth from the Chancellor of the
Exchequer an implied admission of its impolicy.---
Another important :point brought forward by Mr.
l•fuine, and not denied by the Chancellor of the Ex-
chequer, -though apointlike the last, distinguished for
no novelty,, woe, that making allowance for the differ-
enoc in the value of our currency, the amount of reve-
nue collecteihkeit 'year want within a million and a ludf
of that.colleted in the expensiv, cye ar of:. tlie war. In
supporting and illustrating this,,proposi,tioo, thulion.
Member pointed out to the country gentleinen thatthe
52,000,00 a. levied on the people last year would pur-
chase more quarters of wheat than thu 60,000,000/,
leVied it, 1815. But the most • important propo
tion in ,his speech and in his printed paper rela-
ted to the, amount,of consumption at different periods.
The -Ili.,;ilOurable Member proveib that reference being
had to the increase- of the population, the consump-
tion of itnist articles had fallen off, or had. not in-
t:to:load Ow last 40 years. As we have not before
ofticiAl aecomitii verify this statement, we nay 'on
Mr. flume's accuracy' and Mr. Robinson's asquics-
.
cene6 fOr the truth of ,facts as important as they are
.The speeeh .of the Chancellor 'of the
I;:xelie4iner, though a plausible defense of himself,
onild tjcarctily be • Called a 'reply to arguments or
tutemartts of the previous speaker. He only suc-
Waded, in•showing that the resolutions which involved
his *meter for consistency' were informal, when
coupled.:Witb the.motion for an address .arid that if
he, hi attic*" was innocent of practising, delusion respect-
ing the state of -our -finances, and the redemption of
our debt, his predeeessors could not plead the same
apology.. Mr. Brougham concluded the debate, by
solne'pcstinent and (Ord* obst3riations which he in-
ttOdoccAl, without-any apparent inclination to enter on
tb6'getteral discussion,-/bid.

iatontoNG onnosteLn.]
whole question respecting the Bonded Corr,
and the importation of Foreign. Corn during the re-
„as, on payment of a duty, comes on to-night. It
was expected that as one of the measures was urgent,
namely, the allowing the Bonded Corn to be taken out,
no tiree.would be lost in carrying it through Puha-
ment. But it would seem that the storm which arose
inlhe 'House of Lords on Monday niOn, and agitated'
the:llollw.of` Commons on Tuesday night, had rather
frightened' Ministers.. 44rb.e really pity Ministers,
Evetrtnati who can connect two sentences in either
}rouse, 'tleents himself warranted in upbraiding thitin
with their inconsistency in announcifig last year a revi-