The Sun.
London, England, 1819-06-08 00:00:00

• increase on the various articles which he bad
'famed was 3,190,00,1., which, allowing for some
accidental deficiencies; might be taken as afford-
ing an increase t(i the revenue of -three millions
per arinnin. To rt‘eapitalate—the first great ar-
ticle ivas consolidating vat ions articles of excise
and customs tinder the head of excise ; then the
increase i>f the -customs on foreign wool ; and
lastly, the additional malt tax, and that on Bri-
tish
,spitits. lie 'felt that he could not too se-
rionslv impress upon Parlianient the necessity-of
making a great effort by these or some other
means. Now for three years he had submitted
the Iloose annoal !dells of finance,- founded,
as he knew, and as the House knew, on measures
of temporary expediency. 'rite time had now
arrived when such Ineasures oogiit no
,gouger to
tie resorted to, and when the situation of the
coutriy required the adoption of sorne settled aad
permanent system. The House had, felt this,. so
far as to enter into a
_minute- investigation as to
the financial state of 'the natiop, and one of the
results had been a resolution td .Turn toi sound
currency. The present, therefore, seemed the fit
season for establishingthefinances of the country
on a ;solid and secure basia, All the points of the
weakness, as well as of the strength of the .etri
pire,,kad become known both at flame and abroad.
By the return of the Army 'of Observation from
France, the military force had been reduced to
what might be considered the permanent peace
establishment—at least that which must continue
for some time. Jr was not likely that any further
great reduction could -be made. Some other 'ex-
pences which occasionally occurred would he re,
doced—especially that of the Militia. But it would
be t'easonable to calculate on this, or on the
increase, of the revenue—or the Sinking Fond—
er the 'eduction of any of the Funds. Thesewere
resources slow and gradual in their nature, and
it was impossible to state' with ,accuracy any pro-
bable period when they might be reckoned
Five millions, thetefore,seemed to him the smallest
stein wh'ell could.. be. safely •reckoned .on for a
Sinking Fund ; and the addition of 3.000,0001.
of taxes would enable us to proceed with such a
fund from the present year. The Loan for this
year provided for the repayment to the Bank of
the sums
,advanced by them, and for the Exche-
quer pills. It was only the amount of the several
branches of the public expenditure which was
estimated to leave a sum of 13,000,0001. or
13,500,0001. to be provided for it-, and if that
whole sum were raised, there would remain a
surplus of 3,600,0001. In looking to the increase
, ,
of this surplus tt om the new-, resources, it was
not to be, expected than the new. taxes would atff
lain their full amount in the first. year. 'it the
same time it was also. to be cousidered, that all
the expences of the loan would not fall within-one
year. One question however might be aslsed-; of
some importance, -with respect to the produce of
the taxes. There was a very general 'apprehen-
sion that a considerable defalcation in the reve-
nue. would be occasioned by the stagnation of
trade, and it might be asked, whether this might
not he expected to.have a great effect. He was,
howeier, happy to state, that hitherto this effect
had not been produced ; and he hoped that the
symptoms of amelioration which already appeared
-would lead to substantial improvement. Since
the 6th of April, there certainly bad been some
diminution its the revenue, but it was not of a very
alarming nature. Up to the 4th of June, the
total amount of the deficiency, as compared with
the corresponding quarter of the last year, was
107,0001. or about two per cent. He would
state" how this had taken place. The Excise
bad fallen off by about 215,0001.-; but it was
not -improbable that this deficiency would
licit continue any longer. In the Customs there
Iraq been an augmentation of about 84,0001.;
in the Post Office, an increase of 43,0001. ; in the
Assessed Taxes, an increase of 14,0001. ; in the
Stamps, a diminution of 33,0001. Thus there was
a total diminution of 248,0001.; from which was
to be subtracted, an increase upon other branches',
amounting to 141,0001., leaving a diminution on
the whole revenue of 107,0001. in the (Loaner
ending the 4th of this month.. He had tio reason
to think that the Finance Committee had taken
too sanguine a view. -But at the sauce time ;he
should not, under the present - circumstunCes;
think himself justified in speculating upon any
' increase of the rettenue ; although be dril think
that those causes which produced that stagnation
which had lately effected the revenue must now
have ceased to operate: The effect which-had
been produced by the preparations' for resuming
Cash Payments, bad certainly been considerable,;
but a great part of the evil had been occasioned by
the alarm, and that had'how snbsided. it had
been found to he groundless, and :when it ceased-
the revenue might be expected to return to it-s
re-
gcriar state. Having given these detailswl:ich the
occasion seemed to call for, lie had only to.sayr
that be would be ready to enter into any-explana-
tion which might be wished to elucidate any patt
of what he had submitted fo'the House. But he
could not sit down withotit expressing how great
a degree of responsibility rested with his 111
jesty'a Ministers, not only in proposing any new
taxes, but also in the management of those which •
were already imposed. -He was ready; however,
so far ai it was possible. to add to that obliga-
tion, to do so, by moving -a further resolution,.
calling, upon the Exeeptive- Governinent for
the most economical management, of the public
revenue.—(Loud cries of hear, hear I. from the
Opposition).--41e hoped that the- eyents'Of this
Session had already given a pledge of ,the-since-
rity of their endeavours in this respect. In the
great departments of the State, scarcely any vote
had been proposed which had met with Oppeai- •
tion. One subject bad been alluded to in the
course of the Session, which he felt to be one of
great miqortune— namely, the expences- at-
tending the collection of the revenue: This was
a subject well worthy of great consideration, and,
its investigation ought to be speedily undertaken.
With this view-he would, after the other resolu-
tions, move one which would 'Set forth—" That
with.the view of accelerating -the period when the.
country might expect relief frotrra'part of its
present burdens, the House thought that a vigilant
controul should. be exercised, and a minute inves-
tigation instituted, "as to-tii-e- mode of collecting '
and managing the revenue, with the view of mak-
ing every possible diminution in the expt-nditure