The Sun.
London, England, 1817-07-10 00:00:00

I-le tlicrefi;te curiae iiimst'lj to a tew

-,,c,,,.

Hera! observations.lt svOuld be iceolleoed, that
the Ex-chequer Bills paid off were always thOse of
the preceding year, amt. as Government al•
yeady diseliatged those of the mouth of October
last, it was more likely there would be a seaeiiv
of Exchequer Bills, (hall (bat the or.:rket would
diets.—(A 1.11%110—50 far
be overstocked with
the Resolutions of the Eight flan. cienoeniari
were %yell founded ; Ihey only westt to prove the
prop, toy of the tinanctal plan upon which he ('he
Chancellor-of the E'xchtlinct) was not allured tc,t,
proceed. It thit system (the. inconte Tax), hat
beet} acted upon, it would have produced al coin—
sideraWe discharge of the national incombyantet,
and he Cl/111d nut therefore, upon the wbote,t.
Negretting that that system was not adopted. If the
encouraing prollects now openi.:4g should. un-
oappiiy to 1. lie ~eas decided:y of opiiii-m that vigor.
Otis measures ought to he adopted tor the improve.
mem of oor sktuatian ; biso le hoped the
,ante 01 the cAintry would not requite it. TlPt.
,amidst all our difficulties such an improvemet
ai existed should have tat:ert place in the rend*
was considered extraordinary ; but the PreseNt
Session vi rarLatneut Ilan d sl,clled tvt gYVC

sou,usesti
ons or
Itaitth a systeth of innovation and bad
whicla,-for a -tieoe united with other circuit).
4-11eva of the .comory to !Omer public 'credit. He
riaw trusted the:pablic credit would still further
ae7l,''"
`P°llg,l) at this moment the country was uot
nayiu noire than three per cent. inte-
rest 01),.the,Exchequer Bills. Doubts had been
exPressed as to the expectations held out
ui
Bank., ~bat nothing besides an extraordi-
nary
or,eommercial shock could prevent
lea resumption of, cash paymew s in July next,
The national pms.imet was improved by the
°f an abundant :harvest, nor merely in
jßi(totry, but throughout the Continent, and
("might we might reasonably look to a mote
jtl" ,sive and productive commercial intercourse.
been ignorantly charged upoo this country
4` it had built its prosperity on the, ruin of
01 tiers, but in a time of peace, at least, there could
be
n° pretence for the slander, and he trusted
AI national intercourse would produce (lingual
we u vantae. It was for sto use the great power
Possessed with modeuration, for amidst all our
.finr,":lllcial embarrassment, he was satisfied it was
Materially impaired. We were still capable of
great exertions, though he hoped no circumstances
°,141 arise in the world in which they could he
,Cai!ed for.
EL PARNELL was surprized that the Right
Ii 94. Gentleman should have attributed the pre-
sent state of our finances to the rejection of the
l
-thneGine Tax—a measure on account of which he
-mlg,ht his friends on that side of the House
taitlit take great credit with the country. The
rae cause of our financial embarrassment was to
be found in the shamefal extravagance with which
the 7 war had been carried on, of which the expen-
,'"ittre of nine millions on the Plymouth lines was
flagrant instance. By rigorous measures, the
'light Hon. Gent. (the Chancellor of the Exche-
(Pier) meant the rigour of new taxation, but the ri-
oorthau Government ought to manifest, was the ri-
46ar of retrenchment and economy. So long, how-
r;el., as t e Right Hon. Gentleman and his col-
agues were entrusted with our affairs, he had no
14e of improvement in this respect. Even the
si)ith Report of the Finance Committee held out
4 hope, for it assumed the present establishment
()i.', the army, &c. as the establishment tor the
.uture. If an honest wish were entertained to
tweet the hopes of the country, Ministers would
reduce the national expenditure to the national
41cotne, instead of raising the income, if the House
•;vould dssist them, to the expenditure. Why not,
"e would ask, get rid of the many unnecessary esta-
blishments in Ireland, that of the Secretary at War,
the Adjutant General, Commissary General, and
others, with their trains of clerks, no longer ne-
eessarysince the Union ? The Right Honourable
~,
.'rentl.ematu has talked of favourable prospects, but
was afraid they were a long way in the dis-
t,""e; The Finance Report says Ministers must
'next year borrow 12 millions ; and when it ap-
peared that, after the payment of all the charges
On the debt of the country, there was not above
or 400,0001. towards defraying the expence of
the whole Peace Establishment, he hoped in the
next Session of Parliament the subject wQuiti be
sernputousiy examined, and that the country
Would take steps to prevent the Chancellor of the
I:xclucquer from pursuing his vigorous taxation,
anti compel him to proceed with vigour upon a
"itiexn of retrenchment.
ir,Alr,. W. SMITH said, notwithstanding the terms
in Which the Chancellor of the Exchequer bad
ihal:4eteased the appropriation of the Sinking
'tail to the Supply of the year, he bad, in fact,
1..
Teen doing the very thing himself. Upwards of
6 lainions a=t eared to have been applied towards
the reduCtion of the National Debt, let that debt
was not lessened much more than a million ; so
that nearly the whole of the Sinking Fund was, in
:et, diverted from its object to the service of the
year ; yet he approved of this, as he had said all
hwilg the House was bound to relax in taxation at
all events. The redemption of the National Debt
1 as going on more slowly by five Millions a year,
iv
e°llsequence of the advance of
.the funds from
till so much less stock. He approved of the mode
7. f providing for the present exigency by the issue
"t Exchequer Bills, and lie hoped he should never
live to see the Income Tax revived.
u Mr. GRENFELL approved of the Chancellor of
at,l! Extheyler's plan of issuing Exchequer Bills,
,(1 also, that no attempt had been made to im-
r4se additional burthens on the people, which,
enfler present circumstances, must have been ins
eetnal. He approved also of the machinery of
Sinking Fund being kept to work, so long as
It eould be done-by floating Exchequer Bills ; but
de blt should be attempted to increase the funded
it
tl,of the country with one hand, and to reduce
It vtth th ,
ne other in the shape of the Sinking Fund,
su
such be prepared to spew the absurdity of
Ai a system.
I,rier• 13,,R1NG coincided generally with his I-lon.
gels who had declared their sentiments on this
•o
ahnu,on • After all the affectation of delicacy
o
not touching the Sinking Fund, there was
teenuubt that it haul to all intents and purposes
chg
11.61, swept away.—He was surprised to hear the
non,-Gentleman (the Chancellor of the Ex-
- vonsltele,y) turn with unavailing regrets to the In-
into
c,oYax, every time a question of finance came
s - •
n* s eusston. It was impossible he could not
ne ee that the House judged rightly upon that
rionstun n• What would have been the situa-
been _ country in the laSt year, if it had
linye c°ntinned ? Why, the landed interest would
and beetsth_ paying
.a tax for rents never received,
:ifkuith etrelomtnercial interest for profits never made.
tit • 1) It'st be kept with the public creditor; but
wo`4l:.:.°ell;:i.y Tax was the very last measure he
1• consent to. Indeed, before he con-
q'tll,l tax the people to the amount of another
PennY 1 w Ilpf
col,' le °tit. be satisfied that another penny
(1 not be orved. The falling off in the Excise
sow- 0.
',
"vn that it was impossible to maintain our
Sh duties in a -tin-ev. of peace. A man in Flush-
ig uv
14(A,b00- a Pound of ,`ea for 2s. 6d. and sells it.in
n coo,' szs for
- -nip Measures of Government
• •. And n
to a Prevent a smuggling trade being conic(' on
ep°llelsstl_e_ra.bfle extent in a great variety of articles.
Our
x.)ei:". (11.ficutics arose from the profligacy
if
with which the war bad been pur-
utelinel only the same degree of economy
IL_A.,lMisters were now obliged to plw-
' " been pursued, Le had no doubt
•

that 100 milrion; r.11,41it I•:ave'been saved, tl
jo•s of vit!our t.t the prosectttion of it. Bit
:he extraviigai:t r,f Miiifl.itei.s..had been

-.
assisted -by the ea,y inu.nner ill which large sonis
bad been „brained, easi'67 t'ote'd by and

oigrtimed by loails, together with sus-
pencion of cash paytnen't; at the Bank. Uotil
Alinisters saw the tiorition kV3S bet eetk insisting
upon a Peace E.tablishmeot of millions, and
heist; turned Our of place, they never cOIIIII be
brought to Arkno,lledge that 17-1 minions might

be made to do. He had no hope of improvement
but what might be itTorded front Ireland, where he
thought something considerable might be saved.
He bad no doubt upon the whole that commerce.
was something recovering Its healihy state, and

hat the rest of the world, with ourselves, was

ga►ning a fair division► or it.
Mr. litismssoN said, that from the statement
which had been made by his Noble Friend, greater
hopes of rednetion had been formed than that
statement warranted. His Noble Friend distinctly

said, that it would be impossible to lay down the
real peace establishment after the first year 'of
peace. ;Great retrenchments were, and still would
be, made in. the establishinews, taking theta as
compared with the war expenditure ; but his
Noble Friend had always guarded himself by con-
fining his comparisons to the late war establish-
ments, not to those:ot any former time of peace.
Much had been said of the expenditure of the
war ; it had been urged, that if economy had
been looked to during the period of hostilities, as
anxiously as it seemed to be look,ed to now, a vast
sum of money would have been saved to the coun-
try. That, however, was impossible, from the
nature of war. Much was necessarily left to the
discretion of the General, who could not a.pply/for
the advice of Ministers every moment a new and
an unavoidable expence was to be incurred. He
admitted that in some instances those extraordi-
nary expences were to be regretted, but while the
war was raging, they must have been expected.
It was true also, that a great part of the money ex-
pended upon fortifications in this country might
have been retained in the Treasury, but the public
feelings under which those works were erected, if
they were now remembered, would sufficiently de-
fend the necessity of that expenditure. It was said
that the Sinking Fund was not at present applica-
ble to the liquidation of the public debt. That
was true so long as an extraordinary expenditure
remained to be defrayed. As soon, however, as
the Peace Establishment would find its permanent
level, he was warranted by Mr. Pitt's Report of
1796, in stating that the income of the country
would exceed the expenditure of that establish-1
ment by one million taerling. The Right Hon.
Gentleman then entered into a comparative re%iew
of the Sinking Fund in 1786 and 1817. There
was then a deficiency of 4,884 0001. and we were
only doing now what was done then, viz. sup-
plying a similar deficiency. He had every hope
of ao improvement in the revenue next year,
and ' that there was no foundation for those
gloomy prospects which were described on the
other side of the House. The distress which pre-
v;;ErAl in tliC country was Clardy attributable to
accidental and temporary. causes, tile pincipal of
which were unfortunate mercantile specuini;z2ns
and ovcrtrading. To those he Inglit add, how-
ever they were discredited on the other side of
the House, the several causes connected with a
sudden transition from war to peace—the closing
up of the channels of commerce—the necessary
influence of all these causes combined upon

the prosperity of agriculture, and it could
not be doubted that they were aggravated
by the state of the public debt, and the
insecure co►idition of the country circulation.—

The latter evil he hoped to see completely reme-
died in the next Session. Upon the whole, he
was surprised more that the revenue was not de-
creased more than it is, than that it should have
been diminished so much. When the state. of things
was considered, a depression of little more than
ten per cent. upon a revenue of 50 millions ought
not to be looked upon as an irretrievable misfor-
tune. He trusted that better times were near at
hand. The harvests, not only in this country,
but all over Europe, afforded flattering expecta-
tions. In the mean time, he assured the House
that every thing would be done in the way of re-
trenchment which could be conducive to the in-
terest of that country which certainly merited
every possible compensation for the great sacri-
fices k had made. The worst of our situation
was admitted to be gone by. He was so sanguine
as to hope, that the country would soon recover
the full amount of its former prosperity.—(Hear!)
The previous question was then severally moved
and carried upon each of Mr. TIERNEY'S Resolu-
tions, and th:: Resolutions of Mr. C. GRANT were
severally put and carried.
PUNISHMENT OF SLAVES.
Sir S. ROMILLY rose, in pursuance*of notice, to move that
there he laid before the House copies of the presentments
made, and bills of indictment, thrown out, by the Grand Jury
of Dominica in the month of February last. As he understood
that the motion would not he opposed, bk should only state
that three cases of wanton cruelty to slaves bad been laid be-
fore tigaGrand Jury, in one of which a pregnant female had
had healtren broken ; and yet those whose duty it was to find
the bills had thrown them out, adding a clause to their pre-
sentment, that " extremely dangerous consequences might
result from the number of indictments for unmerited punish-
ment to slaves brought. before them, and supported by no evi-
deuce." So untrue was this assertion, that upon one of the
cases ten of the Grand Jury had been in favour of the bill;
and upou all the Attorney-General of the Island had seen suf-
ficient cause to prepare and present the bills. The Hon.
Member very briefly pressed upon the House the netiesiity.of
interposing in cases lite the present, or those laws for the
protection of slaves which appeared the hest upon paper,
would be the worst in practice. Some measures to ameliorate
the condition of the slaves, and to afford them better protec-
tion, were necessary; for it appeared,
on the authority of a
Gentleman who had the most accurate information, that with
the exception of Barbadoes, front the old system of cruelty
pursued by those who had the management of the slaves, the
numbers bath gradually diminished since the abolition. He
concluded by moving for the Papers above stated.
General MICHEL kegged to protest against the general
imputations whick the lion. Member threw out against all
the owners of plantations ill the West Indies. Ott many
estates, and particularly on his own, the numbers had gra-
dually increased for 50 years before theabolition.
Mr. W. SMITH thought the returns upon the table more
satisfactory than the statements of
Mr. BARING supported the motion.
Mr. BROUGHANI observed, that the charge was not
azainst the proprietors of estates, but against the overseers
and managers whom they entrusted. The negroes wanted
protectors, but they were not to be found among the white
drivers ; and measures ought to be adopted by Government
to enable the slaves to look tip to the Governors, to the chief
Law Authorities, and to the Officers of the Revenue Depart-
ments as their friends. tie mentioned the Revenue Depart-
ments particularly, on account of a roost scandalous and this-
-4 stisting appointment that bad been mask before the present

Clortrellor of th I oto rtAmc,
otoo,, from 1i r. tiad _no O:tjt-etion to'nane
but froM a wish wit to io(:ttivt., the Tespse,ctahle relations of
that the ,!,i,qr,:ee he justly iterited.
Mr. ROSE only OiSlted thitt t i;e itaine sh-ould he menthined,
that"the epithets tised hy.the frotuturald'e Gentleman might
not, by the ig.norant, be applied to the innocent.,
Mr. BROUGHAM added, that the name had often been
comtalunieated to Goi-ei:tuAent. It resembled the appoiat-
ment of Mr. Manners of the .Saigni6t to a (7011sul,!;ip. • •
Mr. GORDON bore testimony to the titoes., at th.44Fpuirit-
meuts made by Lord Bathurst
Nlr. BROUGHAM remarked, that no persons might to be
appointed who were not friendly to the aboLtion.
Mr. WILBERFORCE said, that the West India Islands had
promised much, and he had long waited to witness the per-
formance of something ; but he had !writ disappointed : the
Alcoa' causes of deteroratimi were not snaieientiv attended
to. In his opinion the Governors and Chief .tostiees aught
not to be allowed to be the proprieteas of plantation.;.
Mr. W. SMITH explained.
Sir S. RONIILLY replied, and after a few words front Mr.
:lose, the cptestion was ion And carried.
STATE OP THE NATION.

NIT% Int()UG11.1N1 that as he wider Stood it was in-
retvled that the I tot-ise should sit -only one day more, Friday,
he had no objection to postpone his motion on the state of
the -mation to that day.

Tin; CHANCELLOR of the EXCHEQUER obierved, that
a House would be made to-morrow by a Commission, as well
as on Friday. • • •
Mr. BROUGHAM added, that as the House sat to-morrow,
be should certainly bring •n his motion then, and not on
Friday.—Adjourned at Half-past Twelve.

TO CORRESPONDENTS.

For an excellent Article on the DUTY OF JURIES, see the Last

Page. - '
J. F.'s S;econd Letter seems to be so !narked by solemn and
sac►ed topics as to be unfit to be n►iugled with the " bluer
matter" of a Miscellaneous Join nal.

THEATRICAL
Pofornzed Last Night.
CnvF.NT-GmtnEr4.—The Merchant of Venice: Shvloeh, Mr.
Sherenbeek, of Rochester; Bassanin, Mr. Bonriell Thorn-
ton (his first appearance at this Theatre) ; Portia, Mrs.
Faucit. After which, The Blind Boy:
THEATRE ROYAL, HAYMARKET.—The Poor Gentleman : Sir
Robert Bramble, Mr. Terry ; Emily Worthington, Miss
Costello. After which. The Bee-Hive.
NEW THEATRE ROYAL, ENGLISH OPERA-ITOITSE.—Sport Af-
ter Rain. After which, The Cabinet, and The Maid and
the Magpie.

ARRIVEU-1 France, I Dublin, 1 Waterford. DUE-2 Ham-
burgh, I Gottenburgh.

, PRICE 0.
THIS DAY AT T
Bank Stock, ........ 279
3 per Cent. Red "iii
8 per Cent. C0n5....774i-70
4 per Cents ggii 97
5 per Cent. Navy Ann... iO5
HIGH WATER AT LONDON BRIDGE To-MORROW.
morning', 42 minutes after 11. I Evening, 5 minutes after 12.

STOCKS

ELVF: o' CLOCK.

Bank L. Ann.... 20 3-16ths 4
India Bonds,
Exch. Bi
Cons. fur Account,...79ii

THE SUN,

1110 LEM heels DICE:FIE FUSDNI AUDEAT.

LONDON,
THURSDAY, JULY 10, 1817.

We can confidently assert, that Parliament will
be prorogued on Saturday next.

THE FUNDS.—This morning Consols were done
at 80i for the August acct unt ; they yesterday
opened at 784, and left off at L. This morning
they opened at 791, and ruse to 7924-1, for the
present account. An immense quantity of Stock
was purchased at that pike, and the house were
all buyers. Policies were this morning opened
that Consols would be done at 85 by the Augnst
Account, such is the confidence placed in the state
of the Country.