The Sun.
London, England, 1821-06-22 00:00:00

APPROPRIATION BILL.

The CHANCELLOR if: the, EXCHEQUER moved the.
second reading of the Appropriation Bill.
Mr. CREEVEY objected to`the further progress of this Bill
.at present, first, because the Supplies of the year heel not yet
been all granted ; and secondly, because a great revolution in.
sentiment on this subject had occurred amongst Hon. Members
opposite, since the beginning of the Session, who ought to have
an opportunity of discussing the matter.
. _The:CHANCELLOR of the .EXCHEQUER' observed,
flint there was no Grani of SuPply. remaining to be voted which
Could affect the Appropriation Bill. ' If the were read a
second time.now, there would be an opportunity of. discussing
itbefore the termination of the Session, either on going into the
Corninittee, oron the Report.' ' • •
The SPEAKER :reminded the Hon. 'Member for Appleby
(Mr.. Creevey) that no Supplies were included in this Bill till it
had'passed through the Committee, arid it was riot till after that
stage of it that it was in feet an Appropriation Bill.
The Bill was then read- a second time, and ordered to be com-
mitted on Wednesday.. •
. 'CONSOLIDATED FUND BILL.
• On the motion for going into the Committee on the Consoli-
. daVel,Ftind , , . .
RENFELL, seeing the Right lion. 0 entleinini oppo-
site in his place, wished to call-his attention to the expediency
of troaking some arrangement: by 'which the' deficiency 'in the
.Consolidated Fund, which -„in,, the last quarter amounted to
.A.V.080,000, might be got'rid of altogether. Why was the Bank
coiled upon to advance only £8,1100,000, when the deficiency at
the, end of every quarter amounted to 8 or £9,000,000? .It-was,
however, a most disgraceful situation for this country, that the
Gozerninent shoUld, at the end of every, quarter, find itself to-
Mily unable to pay the public creditor, unlesS the Bank chose
• • to,advance the money. He was- aware that the Right Hon.
Gentleman would contend that the present arrangement with
the-Bank had this economical'renult, that the Money mit of
which the Bank .was to be paid in the succeeding quarter was
-' gradually deducted from the debt, and..that the interest payable
to the Bank was diminished as the growing produce of the Con-
solidated Fund wiped off the debt. He would put it, however,
thi the. Right Hon. 'Gentleman, whether there'was any reason
,why the balances might not
,be. made available to the public
service, and the interest saved in some other way ? The con-
' .dition of the Governinent at-the end of every 'quarter; With re-
spect wits- ability. of paying the public creditor, was a stain upon
, the character and credit of the country.,
• The CHANCELLOR of the EXCHEQUER said, that if,
the Government took credit flit a larger sum than £6,000,000,
as' was recommended by the Hon. Gentleman, every such in-
, creesed advance would of course add to the deficiency of the
COnselidated Fund at the end of the quarter. It was a more
Convenient and economical arrangement to have recourse to the
. 14ank, than to increase the deficiency of the Consolidated Fund
;by-borrowing from the growing produce.
M. RICARDO thought the grievances complained of by his
lion. Friend deserved the most serious attention of the Right
• lion. gentleman. If it should, so happen , that the ,Bank of
Xnglano were too crippled to be able to afford the usual advance,
'what' would be the state of the country when it should' appear
• that the-dividends could not be paid !
The CHANCELLOR of the EXCHEQUER. admitted,
that'it would be desirable to remedy this evil ; he had often
turned it in his mind, and various plans had been referred to

him, but he had never found any praCticable. If the Hon
Member had any to suggest, he should be extremely happy to
give it his attention. He did not conceive it possible that the
difficulty sapposed by the Hon. Member, of the failure of the
Bank to supply the quarterly advance, could Occur, as there
was a running account regularly kept up.between Government
and the Bank.

Mr. GRENFELI,, asked if it Was everlikely that we should
be in that independtpt situation as to be able to extricate our-
selves in case of the Bank not being able or Willing to make the
usual advance ?

The CHANCELLOR of the EXCHEQUER said, that to
remove any apprehension the words of the Hon. Gentleman
might create, he begged to state, that if such a defalcation on
the part of theßank were to take place, he should have no dif-
ficulty in procuring the advance from other sources.
The Bill then went through a Committee, and the Report
was ordered to be received on Monday: