The Sun.
London, England, 1817-06-19 00:00:00

raft, awl samgW'

THE VINA. NC ES.

The Pau ItTnitEronx of the SELECT COMMITTRit
tin Pt ANC iv,n3 iielliered yesterday. It is a ntost
valttable and important doeittlltilt. it emhi.aces
a.
view, Ist, Of the total pohlie income and expett-
tlitnre for thu year ended sth Jan. 1817 ; 2d, Of
the probable income awl expenditure for the years
1817. Hittl 1,818 respectively.
Th. Committee state, that the total receipt of public
income at the Exchequer of Great Britain in 1816, was
05,174,1761.; and of tom: expenditure issued from the Ex
chequer,
(This grois sum include,: 1,959,0901. applied to. the dis-
charge of Navy Debt, which was thereby reduced from
3,f:71,5211. at which it stood on the nth January, 1818, to
1,753,7;111. its aninunt on the stlt dannary, 1817; it includet,
also a soot of I it137,7ik.t1. applied as the -Fund on
ituprOvideci Excliequernls, 5 per Cents. 1797,piid 011, and
Debentures paid or) - '
There is in the above pilot total sums, issued and received
au excess of 5,40.1,n9V. of issu6 beyond the receipts, " which
sv!Jahl at first sight indicate an increase of debt, thono the
difference must have been provided for; lint this sum bring
' deducted from that proportion of the foregoing issues which
has been appliedin the discharge of doht, nutounting in the
whole to 14,60'41N/' it will appear'that there was a dirninit-
ton of debt on th'e Sth January, 1817, us compared with the
. Pth 3AttliarY.l6la,9( 9,119A,146/. thy only cirrumst ance which
may in a eepve. affect the precise accuracy of this result, be.
lag the increase 4.4 diminution whizlt may hare Wien place in
Site balances tit the Exchequer at the beginning or close of

the year.
The Committee proceed to a view of the estimated income
and expetuitt +ire for 3817 and ISttj.
" 'ford' Committee have, in the first place. been led to Con-
siderin what -degree the prielnce, in the hitt. year, of the
taxes and ilutiee composiii,,e the existing levenue, could with
ift"iiti,ty bt :v.:sowed as the measure of their future annual
,proiloce.
" lit directing their attention to till,' essential part of.t heir
ittroity, your ('ottsuitLie emitil entertain no doubt as to the
geiteral result to which it would necessarily lead. ' The maitre
mid extent of the distress which has prevailed threngitouttliose
eiasses of 11:e eitinutunity which ciiiist it ot e the hulh of the point-
' tatinn,were too strongly no reeled u pee t minds Of yoil rCorn.
• titiitee, to admit of the nityposition, that under such ci remit •
stances, the revenue imuld have beeik pioductivc in tin or.lin4ry
degree. It is obvious to Veßhqn, Oh Will as
all fernier experience, that the revenue derived front articles
4%f the most gruel's( consumption, most he injured by the Ca-
- }amity of to deficient harvest; tend when t herContniittce eon-
sideretl that 'the distress proceeding. (leen this cause had fol-
lowed immediately that rapid. fail of prices by which the agri.
Culture of the 4iogitinaiad hem) so greatly depressed, and
bed come in citujuitctioit with the rtrect produced upon the
commerce .itui mannfacturing industry of tlic ry, by the
roltlois •changes which had occurred in the polif,cal state of
Europe; the; were fully prepared to find a very considerable
detimene'y in the produce of the principal taus in the year
Ineted the rich January le ti ; atld the more especially its 1111
these cause:' of distress appear to have been felt by most of
the nation% of the Continent in a similar and by Many of them
in a' severer., degree.
The fact has, indeed; corresponded with the Principles
upon stbicti 'this expectation was foorided. slut altlionah
these concurring evils have not failed to prodnee, in it mate-
rial degree, their naturahconserniences, yet you CoMmlttee,
in coat emprtitieg tlte'uttuost extent. of them, and in compar-
ing 'throb With the depression _which the ret cone fins
experienced in (ureter instances, when affected by the ,
single calamity Of ti deficient harvest., are tlis ascii to consi-
`der it as a striltitt; proof of the substantial strength and
wealth of the country, that its consumption should not hare
greater degree under the ;Scent:striated
'circumstances Of cuiliarra‘sment which have pressed upon the
tnit tear. •
• T.... 4 'lr. c...1.1101)11 to tit!'
• . Feuer:it cau3CA .itlecting the. 14511:11 C.ll,ilitirtlM) of t.M.elt COW..
111141144C1i In the year (818, !Wale part of the diminution of the
ri,vt.wtti m0,,,1 he attributed to the iliminishcd. consumption
of t
Cloyaliment itself. But in oinits•;ition tot his eireittn.
• *twice, they consider that the cessat tan of se large a pqrt4oll
&the t AC!, 17,50(1,00a per annum) as expired in the
last year, ;Llthiate their aim' continued to operate der-
' inic the ii.lll.llild”r of the tar cantiot fail,, when toe full he.
refit of the addition theitelly made to the means of iudividirals
is generally telt, to enconrage an increased expeeditute
situ
iinsomptiim ltythe community at large ; coresideration
' i. to be set agaiiiit any iiiterc ;ice to be dirtv.n from the
ttecetrstiry diruinutien in the demands and cOn,uniption of
•-Governitteitt.
• 's YunrCoattuittee being therefore fully impressed with the
belief, that this mifiiroorabie returns of tile Itecenue hi the
1816 are essentially referable to the general distresses of
the country, are necessarily led to the conclusion, that ac-
cording at these distresses may be remilved by the recovery of
trade ageieelt are, from the shock oceissiimed by the soil-
' den cli.inge in the motley value of commodities, zeed in pro-
portion as the industry of the lobouring classo may receive
relief front more extended or inure productive employment,
coupled with the hlessing of a more isvourrlde ,casout than
the lmt ;—in :the saute proportion and degree'mav it be coil.
• . fitleroly .expreteil that the public revenue of the country will
return to its steerage rata, of productiveness.
st Of the degree in is hich Stfillit MCl'ol'o4lll may already
have I:,t, en plate, arid of the period within winch a fall re-
covery froes our late difficulties may he anticipated, it ivaind
lit premattne, and lieu hays presumptuous, in your Committee
to attempt to `tats tity distinct opinion. They Metre, bow.
ever. tiveitrlit it right to call for such information at could
• be iteiotired upon t 4 very important (coin smote of the
• ri sous most con veriant, practically, with the manufacturing
istl eutionetclat inditstry of the country : and the opiniotss
of tl,otir. pet-suits as to• the actual centilielicement, or the
earls prospect of. returitiog activity are, upon tbt, whole,
• , eite•oirvging and sati,taetory. Your Counnittee feel wor-
e:no ed, by the concurring tentimems of theta witriesses, its'
well tit be.sltoltier indications wit hilt their own utitservat
its t•Xprk'S..4ll:4 is belief, that a favornahlo alteration is already
mainte-tiog itself, throughout- the eitunkrys Anti whets your
Committee en.itemplate the great'advantages possessztl iii
this nation, over all those which have *uttered and are still
beets rr;11~, hly the calamities peculiur to the present peeistil--,
tit the substantial restetrces of accumulated wealth, and of
extensive establishments for the employment of la-
kt tor am! the inallitettanee of inilustry,they cannot but in-
duhfe the most confident hope that menturat ton ['nee heglin
!IF :“..etdittlited. therefore. conceive that
estitiltl.ltii; a. too favoisrable view of the•fit-•
toe res envie from the present taxes, wheo they asinine the
aveli;ex productivetirss fit the last two years cerresponding
• rseetely. Its they Sitve already shown, with ..the rtrerage of
file Berle preceding 'years:, .:** the foundation of their
e,tiutat 4.!
• t I,r t ~trun;ther ealni:lte the future produce of the
1,11 the - L. 51,506,364
A the l-I,i,pets,littul; f.,r 1?,17 at 67017,7412
f . ids ,it - - 67),-416,f374
" The probahle hver,iv,e i.ic,lisle its the wears 1517 and
Ht•i, is 44,50t),3441...vtaicti licit, ileductati,,fram thu:estintat-
eit twills of the I.trpentlittne in etch of thrice years, it would
• that that remain to be provided by extraordi.
to, r rei...)llretl., to make good the ilitivri,•isce between the tu-
•il'income and F;xpentliruie, the•year 1817, 14012,3:0a. I
unit it: tilt-year 1 •12,711,31 tl. independently of any addi-
tion to the ast:inal charge', by reason al new debit which mey
• be merited in either of tikoie )06rs, • .
.1 •i„ this stot,ment,your. committee have to add, that in
f,,rmer of these - yerirs,' the ...inns to he appticil !forming
„f I „. row,' xeiteral expenditure) for the roinetion of
et„lst. it 1,1,416,4713/.; anti that in the latter it may be "ttsti:-
s iht.,l to be 15,101,1171.;•—by whirl' it will appear, that in
the deist to he redeemed would exceed the
toile olothly incurred by the sum of
•L. aitilititte to this solidus of income applicahle towArds
• mit Of the debt, your Couimittse
• and apparently improving itetc of the public
• : , att emus, toont i'd 1,41111-. Or the puhiie secori.•
•i ig the attcol,-,,; of the .J.lotise to, the probithi-
'•'- , • • tint', at tin fr: i,ll, period, of Ole intereAt oil a
Aresitit of winch, beside; the
.; ', :.Sir,lf•"Ctn ri 1.11 cwcri description-of pro-
, , ~• cotgrieriAr 6041 not fail la
::,* , nom advntitageous terms,
• fr0.,•;,.1 t • : • try 111 the 114 .111.1.1144.1 L ~211:111;C
„ -.111
• 1 l‘, . yto Stthinit toy
pia 511'; ; but 11, l
‘34. A iy•