The Sun.
London, England, 1820-05-12 00:00:00

ELECTION PETITIONS.

The SPEAKER having inquired if there were any
Election Petitions to be presented, no less than
twenty were immediately given into tilt hands of
the Cleik. Of these, Petitions from Bishop's
Castle and Truro being for double returns, were
fixed to be first taken into consideration; the ap-
pointment of the others was determined by lot.
They stand as follow :
Bishop's Castle, Tuesday, May 30.
Truro Thursday, June I.
Petersfield. Tuesday, June G.
Ipswich, Tuesday, June 13.
St. lies, Thursday, June IS.
Nottinghani,Tuesday, June 20.
Westminster, Tuesday, .tune 20.
l‘laidshme, Thurbday, June 22.
Cambridge, Thursday, June 22.
Colche•tr, Tuesday, June '27.
ounen June 27.
Thursday, Julie 29.
Coventry, Thursday, Julie -29.
(4ranthato, Tuesday, July 4.
Chester, Tuesday, July 4.
Wallingford, Thursil.ie, July 6.
Aberdeen, Thiirsd,,.J al)•
A ldhorntu;h, Tuesday, July 11.
Bussiney, "fuesday, July 11.
Tregouy, ThurNday, July 13.
LONDON BRIDGE.

Mr. Alderman Woon gave notice, that he would
to-morrow move for the appointmeat of a Com-
fiti tee to inquire into the 5/4ite of London Bridge.
Mr. Daw sot.. presented a Petition from Mir. V.
Blake, setting forth that Mr. Pi endergast not
having taken his ,•eat,•and •Petitioner not know-
ing his address, had 'Oar. been able to serve him
%,ith the notices necessary to b:t served, where a
return was contested. [het efore prayed that
he time for entering into his recognizant:es might
be enlarged, or some other step taken that the
House might think Flt.•
On the motion of Mr. W. WYNN, the re,:ohn ion
come to by the House telative to Contested Oct:-
lions on the I lth February, ISI9, was. read by
the Clerk.

The Agent For the Prosecution was than called
in, and examined-by the Speaker. He stated his
name to be William Green, and that he- was
agent to Mr. V. Blake.—lie was then ordered to
withdraw.

Mr. DAwsost moved that further time should
be granted to Ale. V. Blake to give the notices
required, till Monday se'nnight. The motion
was agreed to.
EXCHEQUER BILLS.
Mr. MABERLEY reminded the Chancellor of the
Exchequer, that last June he had proposed to the
House a plan fur raising the Sinking Fund front
2,000,0001. to 5,000,0001. To effect this the Right
Hon. Gentleman had proposed several taxes, many
of which pressed heavily on the middle and lower
classes, one of which, thought it did not immedi-
ately press upon them, was ultimately felt most
severely by those classes—he meant the tax on
Wool, by taxing the raw material on which,
when imported, marty of our manufacturers svere
usefully employed, and the bower classes
.greatly
injured. The Right Honourable Gentleman had
been told that his taxes, as they pressed on the
poor, who were unemployed, must tail. But he
(the Chancellor of the Exchequer) had been of a
different opinion, For the failure that had since
taken place be did not blame the Chancellor
of the Exchequer, as he was confident that
he was sincerely anxious to see the revenue in a
flourishiug condition ; but he' was a little sin.-
ptised that he should ciente down as he had
done in February, when he knew that the ~ew
duties, from the state of the exports and imports,.
had failed ; the exports having failed to the
amount of 600,0001., the imports to uo less than
10,000,0001 , and state that he expected to have
a clear Sinking Fond of 5,000,0001. He must
.have known that the state of tire exports and im-
ports would in a great measure determine whe-
ther the new taxes would be productive or not,
yet he bad declared that he expected the Sink-
lug Fond, on which he had previously calcu-
lated, when he knew that these had failed.—
,The , revenue. in the year ending January 5,
1S 20, ,that was the produce of the year 1819,
had been such, when set against the expendi-
tnre,4t left but a balance of 919,3401. for a Sink-
ing Fund. Lle was not sure that time would
be so ,much, for taking other cif cumstances
,into consideration (which lie particularized) it
would appear that there would remain bat a ba-
lance 01 395,316,1. At the time the statement was
,wade it was very,mnchdoUbted by the lion. Mem-
;ber for Wihelliksea. Now, instead of 5,000,0001.
was clear that the Right Hon. Gentleman would
have a very little Sicking Fond, or none. The re-
venue of Great ,Britain appeared to have fallen off
;considerably in the last year, as compared with the
,premling,yese. The ,produce of the year ending
:the sth April, 1819, had been. 49,050,0001. That
for the year,codiN4 Aptil 5„1820, was 48,20,909 i.
it would thereforc,b,e seen, drat there was a deti.
cieney of Ito les,s than' 838,3881., and including
the falling off on account of Ireland, be doubt-
eel not the total deficiency would exceed
1,000,0001. It was of impottance that the House
should have their attention directed to this sub-
ject. It was also to be remarked, that the on-
footled debt bad not been diminished, thOugh a
large sum had been voted for that purpose last
year. it would be seen, that of Exchequer Bills
issued between the sth Jan. 1819 and 1820, there
were Bills outstanding to the amount of 9,698,0001.
notwithstanding 10,400,0001. bad been voted
by the House to reduce the Unfunded Deist.
The Right Honourable Gentleman had taken
the sum of 2,000,0001. on account of the in-
terest of Exchequer Rills, but for the last
twenty-one or twenty-two months, the bitterest
on them had not been paid, and in the present
year it appeared that ioterest to the amount of
1,100,0001. remained unsatisfied. It must be clear
to every one, that if it was intended to maintain
the public credit, the interest on Exchequer Bills
must he paid. He did hot know that there had
ever been so great an arrear on Exchequer Bills
before, How this could he made a palt of our
permanent system he could not understand; he
would rather that it should only be temporal y•—
He objected to -the calls made on the Bank for
advances to cover the deficiencies of the consoli-
, dated Fund. If this practice were sanctioned by

'.the the Contolida'ed Null, it tnig;it be
vxpe.cred, wool(' always he found in arrear. If the
Revenne went on as it was going on now, at the
end of .the July quarter there would probably be
a deficiency of 2 000,0001. ; and this would make
it convenient to call on the Bank for new ad-
vances. At a future period, front the Bank brine
obliged to pay in gold, or other circumstances,
they might be unable to meet these demands, the
consequences would be serious, and therefore he
considered it most dangerous to pursue the
course of which be complained—that of co-
vering the arrears of the Consolidated Fund
by advances from the Bank. To him it ap-
peared necessary to meet in earnest the
difficulties of the country not by taxes,
that must fall on the lower classes of the commit-
nity, or on the raw materials of the manufactures,
which must throw them out of employ, but by a
solid tax oil property. If a tax to the amount of
10,000,0001. were raised on real property and the
As:essed Taxes given tip, this would be a boon to
the middling classes, who were at present severely
burdened. It ever there was a period when pro-
prrty could be fairly taxed it was the present.
Could any mail say that there was any compari-
son between the price paid for corn now, and
that for which it alight be purchased if the ports
were open Supposing- the effect of the present
system to impose but an itddi•ion of 1/. per quar-
ter, and taking the annual coasumption of
corn at fifteen quarters, here was a tax of
15,000,0001. paid not to the Government but to
the corn glowers. The landed proprietor
who shared this, and the stockholder, and
the-possessor of every other sort of property,
ought to be taxed, if Itteesilllist be raised, as cer-
tainly they must, unless it were thought prudent
to give up our puhlic credit, which he did not
suppose would be thought good policy. The As-
sessed Taxes tniglo amoeet to 7,000,0001.-.... by
Property Tax 10,000,0001. might be raised. But
when he spoke of a Property Tax, he did not
mean an Income Tax. That he detested as meet!
as any one Could do. He would not lax trades,
professions, and income, but property and pro-
petty alone. This he thought, in the present
stale of the country, was necessary, and he could
seeeno other way out of our thflicellies. He
ilionght that, in the first instance, economy ought
to be resorted to in every possible shape. Last
year the Chancellor of the Exchequer Chad given
them reason to hope that some inqury into the
drawbacks and bounties, which came to so large
an amount, would take place. Out of (12,000,0001.
annually raised, but 52,000,0001. foetid its way
into the Exchequer, the other 10,000,0001. being
consumed in expellees of collection, in drawbacks
and bounties. He concluded 'by movisig for tic-
' counts of all Exchequer Bills and Irish 'Treasury
Bills outstanding on the sth Jauttary, 1820, with
the interest due thereon, separating the amount
of the interest from the principal of each. •
The CHANCELLOR 01 the EXCHVOVER salt!,
though he had no doubt that- a great curiosity to
know the financial measures intended by Ministers
existed, yet he did not think he should discharge
his duty to the country by laying at present a ge-
neral view of that subject before the House. He
would, however, [twice one or two !mhos urged by
the Hon. Gentleman. He (Mr. Moberly) thought
that the taxes of last year tailed in their produce.
There were, in the accormis which ley on the Table,
I.an account of the Excise Duties in England for
the three quarters, comtneneing the sth Jitly, 1819,
and _ending the sth April, 1820. A long Credit
was given for a very considerable part of the
taxes imposed last year. Upon the Malt Duty
a credit of five months was given, ausl
longer credit on other Duties, so that ran actual
account of their proceeds could not as yet be
made out. The Excise Dirty for the whole year
was 2,910,0001. and the actual charge of the Duty
in England alone, for three quarters, ending the
sth April last, was 1 921,0001. being less than
a million short of the estimate in Itelernd and
England the whole year. It might be asked,
how then did it happen that a deficiency in the
whole Revenue existed % In the October quar-
ter there was a falling off of more than a mil-
lion in the new Duties; but that might be attri-
buted to temporary causes. In the course of
the present year the Customs, as well as the
Excise; would produce the full amount, excluding
the new Duties and allowing fur the part trans-
ferred. The Hon. Gentleman complemed of the
non-payment of the interest of the Exchequer
Bills, but the Hoo. Gentleman knew that the prin-
cipal and interest were paid together, and that in-
terest accumulated until such payment was Made.
The Hon. Gentleman had spoken of the deficiency
in the five millions proposed last year, but the
Hon. Gentlemen must remember, that in February
last he (the Chancellor of the Exchequer) did not
hold out the expectation that the five millions could
trereelieed.within the present year. lie would offer.
no opposition to the motion of the Honourable
Gentleman.
Mr. J. SMITH agreed withehe Right Hon. Ge-
ntleman, that no mentions of the intended financial
measures ought to be now made ; and he knew
his Hon. Friend who made the Motion did not
intend to elicit any thipg of that kind front the
Right Hon. Gentleman. present situation
of our finances had tie injurious effect upon the
Revenue, and nothing was so likely to check that
as a perseverance in some solid mode of Finances
but as •1011;:: as the present unsettled state of our
finances existed, so long would these reports and
alarms exist. As to the tax proposed by. his Hon
.Friend, he would say, he worth, have no objec-
tion, provided other taxes were given up. \Veen
the guest ion of Finance for the year cause under
discussion, he hoped a tax would be iesposed upon
those who could pay, and he would have too ob-
jection to the shape in which it would be imposed.
Considerable alarm had existed for the last three
months, and he hoped something likely to afford
security to the cottony woold he adopted.
Mr. Beeteo said, he hoped the finances would
he placed in a state of intleneudepee sit.rilar to fo-
reign countries. He thought a great deal of the
existing di:trust arose from the estimates,laid be-
lute the House since the Peace. It was impos-
sible for any man to lay before the House any
statement to be idled lowa as to the resources of
.the country, because since the peace the country
was in a tOtite of decline. The means molted to
for obtaining Money from abroad were tea:ly

eretittahie. guch theanS Wei-e ridt tegr‘dteti td 30:1'
commercial men except in cases of great comp;
gency. He, hoped the Right Hon. Gentleman
would have no objection to state to the House did,
amount of such grants.
The CHANCHLLOII Of the lYackiscitma said, that
these grants were raised upon available funds, but
it would take some time before these funds could
he made applicable with the most advantage. A
few mon:lis would be sufficient to wind up the ac-
counts, and he would then be most anxious to (JO
all in his power to satisty the House.
Mr. GRRNVELL said, he was aware that consi-
derable quantities of silver, for which grants were
made, had been imported into this country,
dirt not think it improper to wait the time men'
tinned by the !tight Hots. ()cutleman.
Mr 4 Battitso said, the Right Hon. Gentleman
mistook if lie thought that he (Mr. B.) asked tot
an account of the money outstanding yn the Cun'
tinent. There could be no ground for grtnts
three month.s' sight upon the Treasury of Eng.*
;and.

Sir J. NEWPORT said, he thought that species
of property which was increased by the present
system of finance, ought to hear part of the bor.-.
then ; and be would, therefore, object to a Pro-
perty Tax which did not include funded property'.
He thought stoci,holders had the value of their
property increased, because they ad Vaneed in 5
depreciated wha't they were now paid in an ame-
liorated rerrency.
Mr. Itheeeee said, in proposieg that tee, he.
bad no reference to stockholders ; he meant t(i
say, that the tax 511.1i1d tall upon tee proper y of
the country at large: He did leo( eotefi;alo
the estimates of the Right Hon. Gentleman, .be-
cause lie thought it impossible for any person to
give an estimate which could be relied upon ; but
he complained or the Right lion. Gentleman com-
ing down to the House in Febrile' y last, amt.
making the statement which he then suede, whets
lie well knew, that, notwithstanding the new
ditties, there was a deficiency of 600,0001. in the
Revenue up to the sth of January. He :ve4.14
appeal to the Hoose, if any expiession of his Was
calculated to make the Right Hon. Gentleman
believe, that lie wished hint to ~li/,close one wort'
respec ing future meastries. Comparing-
the produce imp to the sth of April, 18.20, ,ith lire
produce of the years ending April 17 and 18, there
was really a deficiency of- coI millioeS, because
the Right Hon. Gentleman admitted he had re-
ceived one cuillion of the new duties, and yet there'
was upon the whole a deficiency of a
did not say a word.of the amount of the Revenue
charged, but of what had been paid into the tree
surf. •He was aware that a indium had been -
tranlferied to the Excise, but halt a million hail
been added by a consolidation of the CisStom.;,
and yet the Customs were going on as badly Les in
the last year. _
'1; he SPEAKER then put the question, which was
carried in the affirmative, and the Accouuts w'ere
accordingly ordered.