The Sun.
London, England, 1816-05-28 00:00:00

SP.INISII P kTrioTs.

Mr. rfonzinti atltette.ti tr; What had taken place
ort a fen' tier occasion respeeting the.iniftrit.onment
of 'some of the Patriots of wl,enaa
(tress (tt the subject 'tt) the Prinee liegetit had
IStett tutored. it Ares then', stated front the other
side or the 'flogse, that nothing &timid tie Verliti.:.
'it* itT ettidearonts to pracitre theft tehef. He be.
lieCedlittit 146 tibie was lost 1r: Ministers try rk-
ing their'aftliCatiott ; and .tl6t several of these
unfortonnte peroons had heent teleased : tint there;
was on instance 4.1 4:keel:ohm thtit aptiented
him .tery., parlieulat —I hat of 1)on' Diego Cotreii;
who had himself with two Sims tooght with
the ratr;ots'of Sintin the 'Mending `Erencit
.attniesi isnd they ivete alt 'itate wuntide.d, fie
ktiew that he Lit,' rcpt rvkesertaiith tho
Otis still con ii soil' at Ceuta. W 11,4
he now tithed to know I;trin the Noble L-,rtt
tvai. why an cxcepthitt was wade in the case of,
Corteft ?

Lord when the rolD.
ject, 114 st in tiothicol, he stated ihn't he
hitd /wide a f.tmetted
who were then in ciistothi. The imeceis' of that
upplientiort he conic! riot tit that time commiiiii-
cate but he nld the s.iitisfiretion' of stating,'
thnt lie had ".received dispatches from Alajc4ty's
Arrihnssiutor at Aladrid, informing h mu, that in
corrsayienee ccf the representations he !fait tit iciti
to the Cetfrt, the Individual (Minted" to hart
bteti

Otto./6HAni txptessed u delfildi to know,
whether any steps butt been tuicen in I.:mut:of L.
Arguell'es

fiord CAslztifiLAipi bovi,ett.
COMMITTEE OF WAYS .I.NP

Privlotis to the motion or the Coxse.J.J..!:,o'it of
,
tnO 4-xcupgautot; for Irokwe to go into the
to:0311416u ee of Irliy-s end itsleqos, the v.iriolts an-
ntial Accoltlitzi acre tirluvtd for, ,iint.brOu4.l,t
by A1r.f...,03ifi NG iON.

The 1.-ionse nacto. ret..elywl itb'elf into the r..`onift
_ ,

tilitT@n,

The Cit,:neet..tnit (71 the Ex CI4P.Qt:Yr:R, in
ft; sufitlit to the Conithittee the ge,-.111 Fro%
which he had thotight it nece*sitiy to iti4ke for
the service.of the'yeer, found it imitossible. dis.;
gui'ie the fact, that the tiropotitiotr with wfiieti lie
Conelnde, g"re..v of the (..iiCrnifitiinet:tit
the ittaged is tsuse to take it e.nirße
different (twit tlim Whiell he totirt thon4hi it hita
ditty to recoldmettif. The tontore o tht, ittfititge;
tnerrts for the tiet vie,: ill the year ivere tit cei.4ttrtif
tituelt altered by the t 4,:jvct ion of t' v, Propt;tty Tax
but whatevc.r pion 'night tek, intif the lloto,e:
hait.tLternillictl ttE,,tiu t ilnit line or eontinot tAhltit
11l 134(11;4in/it woieid have Veda £I .'3t tti

the country, it was. nevertheless his duty to how
to their decision, and 10 submit to theta the best •
means which remained for meeting the supplies
necessarily demanded for ' the service of the•
year. tie should do this with the most sin-
cere desire that the result might be such as ro
leave the House nothing to regret. He should
explain the reasons which had influenced
making those arrangements, which, ender existing
circumstances, he thought most advi&sble, and
furnish that general view of the subject, which
indeed, without a dereliction of his duty, he could
not omit, and which, from the situation he had
the honour to hold, he might perhaps be thought
more competent to supply than any other person.
La doing this, he had the satisfaction to know,
that the statement, he should have to submit to the
Comlnittee wool(' be upon the whole consolatory.
as he should not be under the necessity Ot pre-
senting to them any discouraging view of the state
of public credit, and as the country was amply
possessed of the means of meeting that expendi-
ture which the public service demanded. Before
be proceeded .to take a general view of the Sup-
plies mid Ways and Means of the year, it would
be proper for him to call the attention of the
Committee to the more immediate object of
the Resolutions which he should have the Ins- ,
mum to submit to them, which arose out of a
propositiou comninnicated . to hint in a -letter
which he had received !roan the Bents of Fug.
laud, and which had been laid before the House.
For the course pursued in this instance two pre-
cedents had occurred within no great distance of
time from each other. One was the proposition
made by the Bank, June 13, 1781, concerning the
renewal of their Charter, which had been referred
to a Committee of Ways and Means ; and the
Other was a similar communication, dated Feb.
, 19x,1800, respecting a further advance of Excite-
Tier Bills, which had been disposed of in a simi-
lar way. The first Resolution whith 'he should
have to move was, '" that :the Committee 'should
approve and accept the' peop,osition of the Bank of
England, for granting an adVance of 3,000,0001.
at three per cent. interest, accompanied with a
condition, that the Corporation should be per.
:Bitted, to extend their capital to 15,000.0001.
with a further proposition that their Pittstnissory
Notes should continue to be received hi payments
made at the Treasury. The permission which
it was lit contemplation to grant to them, allow-
ing them to augment their capital, which was at
present fixed at eleven millions and a half, to 15
millions, was in truth only allowing them to di-
vine something more than 3 millions at their own
money, on condition that theyishould advence the
sup of 3.000,0001. for the Pulille Service, at an-
interest of three per cent. This was an advantage
of considerable importance to the public. • When
it was'necessary that money should be borrowed
for the nation, it was not to be doubted that it
was no inconsiderable benefit to be enabled to
obtain so considerable a sum as 3,000,0001. pay-
ing only three' per cent. interest, It wits only
becessary to consider whether this proposition
was' accompanied with any condition that could
he viewed as objectionable. The principal sub- I
jeer for consideration was the proposed augmen-
tation of the capital of the Bank to 15,000,0001.
To him (the Chancellor of the Exelicquer), this
appeared not only free from objection, but that
which. was in itself very dekirable. Since the
capital of the Bank was fixed at eleven
and a half, a great ine7ease of Bank Paper had
taken place ; it was therefore proper. that their
capital should be increased, to give the holders
of their Notes additional security. Such' ail,
augmentation of their capital as they now- of
themselves proposed, he was of opinion, if not
necessary was at least ais desirable for the
l'uWic as - for the Bank.. if this was as be con-
sidered it to be, adVantageous for the Public, he
did not see they had any right to object t , the
mode in which the Bank Company. thought fit to
effect this change among the Proprietors. If they
bad (as it had been said they lied) a large SUM
by
.them of undivided profits, he did not know
that they could do better than divide it among
them on equitable terms, and add,it to their ca.
pital. The second coutlition 'which accompanied
their proposition was, that the ]hank promissory
notes should continue to be received in payment
at the Exchequer. It was well knoim that for
many years their notes bad been received in pay.
cent, and he doubted nor they would have cone
tinned to be so taken, If this arrangement hail
never been proposed. It appeared tohitn it would
be an advantage in the event of the resumption of
cash payments, as well to the public as the Bank,
to weird against any thing like a trun upon the
latter immediately on its opening. Feeling this,
be should certainly in any case have proposed that
their notes; should be received for x certain time
after the resumption 'of cash payments. Such a,
measure he should have held to he necessary, to
guard against any 'traffic on the part of the minor
agents of the Treasury (though perhaps this was
little to be feared) being carried on at an impro-
per nature, Nwho, without such an enactment,
might possibly have demanded paymentsin gold, for
the,purpose of making a profit, by turning it into
paper whenever the exchanges might again be-
ceone unfavourable, He did not know that any
inemivenieace would be likely to arise from re-
ceiving Batik notes at 'the Exchequer, till the pre-
sent Charter of the Company should expire. If
soyinconvenience shduld be found to arise from
their continued circulation, an easy remedy would
always be in the hands at Government. To him,
then, the circumstances which he had stn-ted,
fairly considered, the arrangeMent seemed to be
as free from objection as any that could be sub-
mitted to Parliament, or that could be devised by
any Minister of Finance. It WO to Government
an important consideration to obtain, a loan of
3,000,0001, without having much interest to pay
oat it, at a time when it was most desirable to
avoid all pressure on the money-Market, and in
the reduced rate to be paid on the money so ad-
vanced, the public gained at least 60,0001. a year.
it offered to the Bank security, and sanctioned an
honourable extension of their capital, nod this
was highly beneficial to the Proprietors. He
thought it might he observed, that what it was
now proposed to sr iction, was no more than that
which they had it right to claim at some time or
otNer and the only question therefore was us to
'the tune, circninstanees, and mode it wbich this

should take place. On any of these groolds tie
did not think any fair objection could he nrged to
the arraT4emeot, and the present seemed in fact a
favouraliie momeot 'for granting that which at
sonic haute period they were entitled to claim.
He should now proceed to take e general view of
the Supplies and Ways and Means of the year.
lIC would first begin with the

SUPPLIES, 181;.
Army - - - - L.9,1;65,666
Deduct for the Troops in Prance 1,8:44094 '
Atiowins to be provided for by Eligland .----_-- L. 8,431,070
Extrnortlinaries - - - ' 1,00,u00-
Commissariat - - 1.490,000
Deduct for t be Troops inFrarsce,7s,ooo
----..-. 40b,000

Barracks - • 17a,000
Storekeeper General's Department,
exiseettn to be ruduced by abOut
10,0004 - - 50,000
9,133,000

. ,
Total charge fur Military Servie, in
the Army - - - 10,564;070
Navy . - - L. 10,114,315
Against this ;vast') be set, on tic-
count of Naval Stores to be sold
oW - - . 679,905
Leaving the suni of - - -- 9,434,440
Ordnance - .• , - 1,884,188
Deduct un Account of France - 1R6,003
Ilentaini to lie prim ided by: England .----- 1,696,1 111
Mitcellincons - - - . 9,500,00 Q

ludiatt Deitt

-

945,491

. 1..26,140,188
--The pressure of public business in Parliament
hail prevented the miscellaneous service.; (rain br-
ing gone into in the present Session. Some con-
sidereble items had occurred since he estimated
them at 2,009,0001. They might possibly amount
to 2,500,0001.' so to prevent disappointment, he
had taken them at that sum. To meet the India
debt, and expences incurred in India a vote .1'
945,0001. would be propoied. This was neces-
sary, as the East India Company bad made pressing
representations for repayment of the sine- they had
advanced. The advances in qu-stion had !wen made
to for Ward those valuable services reettitly per
formed by our army in India. Th... total amnant of ,
the claim Of the East India Company, includ-
ing the estimate at the present year, Tad been
2,300,000 L 'Considerable payments bad, how-
ever, haearthatie by the Government to the East India,
Company, which were to be set against the sum
he bad mentioned. Thin clone, there had reinaieea
due to the Company in January last, about a mil-
lion and a helf. A provision bad been made for
the sum of 500,0001. in the Vote of Credit for
the last year, awl this deducted from the debt due
in Jainiary, reduced the•sum to be provided for
in the present year. to 945,0001., which it wonid
In' his duty on a future' occasion to hripg mine
particularly under the etinsiderat ion of the Hotise.
He then recapitulated time items of supply above
enttmereted, and proceeded to add to these the
separate charges. The first of them was tor
the payment of the Loyalty Loan, which bad .
been raised in 1797. A , difference, he stated,
might occur in these items, as in the miscella-
neopi services, between his statement and the lie.,
counts previously laid before t,e Houle, owing
to the same chat races being placed under different
Ileatis,or to different dates being included in, the
, .napers. After the Loyaltyloan, anti theNDeben-
tures, and their interest, which were the two first
items in the separate charges, he came to one
OM immediately .under the
.consideration of the
. House, respecting ,which notice hind beeilgiien
,Pf:a motion by hie Right, Honourable Vrien4
(Mr. Wellesley Pole). - He meant the Motion
fur tht grant of a tutu of money on account of the
new Silver Coinage, Ile did not propose to an-
ticipate the able illustrations which the Right
lion. Gentfemau world he able to furnish on this
suliject, in what be might offer on this accaSion-
It vvottld easily be seen there was no sinal, diffi-
culty in determining what sun) it would be pro-
per to grant for this service. He (the Chan--
, cellor of the Exchequer) bad for a time been
doubtful whether this was a charge which ought
to he borne equally by England and Ireland, or
whether it was fine which ought to fall on Great
Britain only. ' Ultimately he had considered, that
a* the greater part of this silver now in -cit..
ettlation had been issued long before the
Union, it was just that it should fall on Great
Britain, and on no other part of the Em-
pire. It was not easy to say bow much would
be sufficient to meet the charge for the new
coinage ; but be proposed to take the sum of
500,0001. which he apprehended would suffice at
least for the present year. None- of that silver
which was at present in circulation was intended
to be receivtd in exchange for that to be hereafter
issued, which did not bear some appearance 'of
having corne from the :Milt,' and this, as it would
tint amount to a very considerable sum,,coulti not
crease a great expence, and at all events it would
be some time before any part of the arrangement
could take effect.
.'.nc next charge was on ciccpunt
of Exchequer Bills held by the Bank. These:had
been issued for sums advanced -by the Bank in
Isoo. The sum then advanced -amounted to
300,0001. of which one half had been paid, and
the million and a half which had been annually re-
newed in Exchequer Rills :nosy: tethained tp be
made good. The separate charges tvCreilfogi-
titer as follows : •:
I 1
sErhitATE CHARGES.
Detaelitialjseran7;lnttierest thcricon ''
•• • 110177:06V i -

Coinage 500,000
Exchequer Bills held be Bank 1,500,000 f
Interest andlinthing I;`tand on lisehe-
quer Bilis/ ......, 2,260,000
5,924.764

Deduct Irish proport 'on ofJoirtt Charge 2,957,a50 30,4243051
Do. Civil List gtad cuittolidatil Yule(' (MS

:1,145,65G

LQ7,279,20 5

—To meet these be bronght forward the following

WAYS AND MEANS.

Land and Malt L 5,000,000
Surplus, Consolidated Fund
Excise Duties continued fur I•`ive Years... ......
Bank Advance on Bills 6,0a0,000
Lottery :100,000
Surplus Grants, 1815
Bank Advance on Account of Inorcissed Capital J,000,000
Unclaimed Dividends .. .

Unappliell Money in the Exebtver . 140,000
Exchequer Bills

Le 7,30.5,771
He took the surplus of the Consolidated Fond for
the present year, at 300001. A a consider-
able portion of the Supplies for the service of the
year. yet remained
,to be voted, lie•proposo to

leave
h proportion of the Ways and Weans, to toe
*mount of 4,000,0.001. to be also voted on a fu-
ture day. He could wish to show how the Surplus
Consolidated Fund (whiehliowever be meant to
.reserve for future consideration) was made tip.
Whether, in the preselit situation of the country,
the taxes carried to it were likely to increase or
diminish it, was for Gentlemen to 'determine for
themselves. By the latest accounts made out, the
produce of the Ctistorns up to the sth of April
last—that part of them which was carried to the
Com;iolifiated Fund, amounted to very nearly
5,000,0001. their prodnee being 4,998,0001.
The produce•of that pun of the Customs given to
the War Taxes, which I. u late Act of Parlia-
ment were to become permanent, amounted in
the last year to
The Eseise gave within the same period
The Asseswd Taies . 6 327,000

Stanipc
Post °ince ... 1,600,000

Land Tax
Small b c ranhes of Iterenne
And sundry other AVays and Means, including a
great variety of items, brought their grand to-
ts) to
The annual charges paid out of the Con olidated
Fund, amounted to the sun of
This year there was to be lidded the Mission Loan 180,000
Making together.... '

Deducting this sum from the income be bad stated
to be that ot the Consolidated Fund, it would
he seen there reinaioed 3,603,0001. On this there
was at arrear on the April of 665,0001 so the
total produce v 1 the last year was almot 2,995,0001.'
but tiie ntininotinn here to tie ~tisei yen would.
covered by the produce ot the taxes Witt ma in the
course the present year, end, .antler all tii,.:ttn-
;,tattees,, he thought he might with reason estimate
it,
ttwou
at 3,000,01)01.. The E.xi Ise Duty, late
a Weil Duiy, bet nbieii had become permanent,
heti, a 6061 voted for fire years, had produced
3 millions 688. thousand pounds. He estimated
its produce in .the present year at three mil-
lions
.1111 d a half. He did not see why its
produce might not be equal in the present year
to whit it Lout been in .the • last -; but the allow.
ances granted on account of the Malt Duty,
made this a matter Of noulitful calculation. The
payments, however, not yet made good, would
prevent any gi cat falling otf, and he should there-
fore take it at 3,500,0001. The next item; was
the first advance of the Bank ot 6,00a,0001. The
ordinary feature in the. Way and Means, the Lot-
tery, he took at 200,0001. This was somewhat
uncertain, but he caleulated its produce Would be
somewhere, thereabouts, The next would be a
!Host satisfactory item to the t'
Surplus:Grants of the ye,Lt.
to no less than .5,60,000 i. Au account was
on the table, '4hewing' in 'what way 'this stun
was made tip. Some grants were commonly
left unapplied at the end of a year, but it
was generally. found that against these some
services left unpaid were to be set, which
frequently came ',early to the same"aniount, and
left little or nothing to be carried to the Ways
and Means of the next year.. The sum remaining
in baud on the sth of January last, had, how-
ever, so greatly surpassed any thing left unapplied
before, that :there was no reason to suppose the
whole would-be called for in any way. The surplus
grants at the period he bad mentioned, amounted
to 110 less than 11,120,0001.. It then be,:atne a
question, how much of this sum it Was. neee3'ary
to reserve for payments due on *mount of ser-
vices of the last year, and how touch could be sp;.
propriated to, the service of 1816. 1 the first in-
stance, when the House met, he had stated the
surplus grants were supposed to amount to about
3,000,0001.
Front the turn which he had stated to hate originally renuilned
• in hand of 11,120,0001., Uterc bad been paid on account of
Treasury Bills L.1,550,000
For the Army
For the Commissariat, in Spain and Portugal due
since 1814, provided in 184,5
Barracks . 126,000
Ortimitice 476,0t1(1

lett iiiiitrUtltttl

Making a total sttoi for Military Service of 4,6042,11100
But against this, there was to be babtncrd the cash then con-
tained in tbe Military'Cliests ; this ainouatedi 0.. L. 1,40,4000
Which deducted trunk

Left for the Arrest of lust year ... 4,787,000
To this was 10 be added of the 'ilbsirlies granted
in the year and remaining undischarged 1,720,0001.
The Nsry Debt inMary lag had aniounted to
3,600,0001. (fit
,this it was•thought desirable to
allow the sum nil,OOO,OOW. to be paid out orthe
surplus grants. There had thus been paid— •
For Military Servicrs
For substilies . 1,7.".c0,0u0
For Navy Dcbt 1 ,odo,oto
. .

'root' o,l .bOO
l'here then rernailleil the t 1,120,440
Dteposeble Grittiti j.. .

The next item was the bargain made with the,,
Bank for la; advance of 3.000,0001. He ha l then
to state,, he 'had formed a plan for making a new
arrangentent with respect to the unclaimed divi-
dent's of the, Bank. Front these he proposed to
take the sum of 301,0001. This, however, was
not the only advantage which the public would,
derive front his scheme. It appeared to him that
the arrangements hitherto male, both by Mr. Pitt
and Mr. Perceval; were in some respects objec-
lionable. had not,contemplatetf the possible
increase Of the nueinitned dividends beyond a cer-
tain stun, and alh abov4 that stun they. had been
content !timid remain in the hands of the Bank.
•It appeared to him better that a more extensive
arrangement ought to be made ; that the Bank
should retain in its hands at cettu:ii sum, and all
the balances in their hands above that 1311111 to be
Made applicable to the Public Service. On this
principle he had taken 801,0001. which had re-
mained in their hands up to the sth t4* April, in
addition to another considerable advance which
had been made. Thus, 301,0001. however %vas
not the only: advantage' which the nation would
derive front his plan. It was not right that the
Bank should:retain in their !iamb sums which it
was not likely would be called for, and which,
from the accidents of nature, or from the course of
law, the owners might never he able to reclaim.
He therefore thonght such monies mightbewell paid
over to the Commissioners for the redemption of
the National Debt, to he by them applied to the
liquidation of the Public Debt, subject to the fu-
ture claims of the owners to restitution. He
proposed that it should be arranged-on this prin-
ciple : that all Stock on which no dividend was
claimed for ten years successively, should be paid
over to the Commissioners of the National Debt,
to. be by them applied in the manner he had al-

r

Teatly
fieSer Weil. n S
be proposed should be kept in the Bank:and this,
he thought, would be better even for the owners
than the present system, proverbially accurate as
the Bank was in all its transactions. Next item
was rather of an extraordinary nature : it was one
of 140,0001. made up of small balances remain
ing in the Exchequer. 'there yet remained the
supplies to the amount of 2,500,0001. to be
provided for, and this he proposed to do by'
means of Exchequer Bills. The Right Ho-
nourable Gentleman shoved a dirninution
of
the Unfunded' Debt to 'have taken place by the
paying off of Debentures and Government Securi-
ties of a similar nature. He then recapitulated
the whole of the Supplies, and the Ways and
IVlans by which they were to be met. lie did not
mean to move for Exchequer Bills .to meet the
2,500,0001. of which 'be had spoken, by them■
selves, he-should include them in a larger vote.
In February, a grant of 4,500,0001. in Exchequer
Bills had been voted by the House to meet other
bills to the same amount. To this might be added
bills to the amount of 1,5004001. issued 00 AC.
count of the Bank-1-6,000,0001. to replace those
outheVote of Credit—and one million on
ac-
eosin of Debentures, making in the whole 13 mil'
'loos in Exchequer Bills, which had thus been
sued ; the whole being, with. the eitiepticht
oldie
last 1,000,0001 intended 'to exchaoge against bills
of the sante description, and even the last were I'',
meet securities of 3 similar nature. He had ht'
to meet a large def,lcation to, the amount of
8,500,0001. in the Wl?* and Means of the ear'
owing to the refit of the Property :Tax, n'a
the reroquieunent of the Malt 121,10 es•
would now ext !int in what way he had made goo"'
these eight ml;:ions aa nd
- halt.in the 60t
tu-
stance he had proposed to touch ?,50J,000?,50J,000?,50J,000ot, .61"
chequer Billst which oth e erwis would not 11'"e '-
been necessary. The next means which the
deficiency was to be met, was turitisneil
extra supply offered by the surplus grillt• I.l'ebe'-`
it wonky be remembered, when he
proposed the
renewal of the Property Tax, he had wised but
at three millions. Since, it had fortutately,bten.
discovered, their amount had 'exceeded five
lions.—(Hear, hear, hear !)---The propoell au"
vance from the Bank, which was the Subject
of the motion which he should make to-day, Or"
Dished another portion of the still) to be made goad?
and to this might be added' 4-10,0001. unclaial°
ed dividends apd monies in the Exchequer, any
the 8,500,0001. would be covered. He cerr
thought it would be desirable to avoid, if
possible, any increase
,of the unfunded, as Weli:
as funded dein. Had the system he recommend-
edbeen adopted by the House, a great rapid ire-
proVentent of public credit would have been tbc,
consequence. 'He still most sincerely hoped
this.
would take, place, and he reflected with much
satisfaction that of all the sums called for, theFe
was only the 2,500,0001. in Exchequer Bills, that
could be said to press heavily on the moat
market and the exchanges. He wished to state
the wholeatuount of the sum burrowed, agaii'st"
that portion of the public Debt which would is)
padid off in the present year, without distinguish"'
r Je
ing, for the present, the Fun u
Funded and nion

Debt.
Tile first Advance from the Danle amounted to .. LSO'
Tim second Advance, to,
iI 14. Exchequer Dins. .. .
2.1..............•
Total 11.508,0/.
The Debt which would be paid off he next proceeded to sbew'''
the Sinking Fond bad, on the Ist of February, amounted t.t
11,130,0001. It Was therefore probable that in the course o$
the year there would tie paid off be the
Sinking Fund ;. 1 .l I ;500,000
In Exchequer fills . . •.. i ,00,0°..„,,G
In Debentures and Loyalty Loan
East India Debt ......, ..- ..
...........,.....—.
` Total 14,90.01
occlusive of what bad been repaid within the l'"
yer. It wOuld thus be seen that there was 'l°
exceeding of about 3,500,0001. over the sums b 01"
rowed far the service of the year. But it rOlO4
be supposed, that when Ireland wits calico int?..
Ways and Means, wee should and our prOape ~,,;";1
much eitenged. For a few moments, noweeecip
he' woad -take the liberty to trespass on tne iiir::
partment of his !tight Hon. Friend, Rll4 tO'Offel;
some few observations which he ( .:r. fi'itigeraiii).'
would otherwise have bad to bring forward in 113.,
able and satisfactory manner in which be alwll.
made such statements. For Ireland his :iii'n'a
Ft iend intended, this evenina, to propose A Grain
of 1,700)04)01. in Treasury Bills, in adiktion 10;
which he further intended to move far a
.grant of
1,200,0001. I; ish, or I ,118,0001. 11.7,11glish, nutkil
a total 42,818,00 K and added to,the sum wine!
he had stated was to be borrowed for England °I
11,500,0001. would make. a grand total .01
4,318,06011. But againstthis was to be set the Irish
Sinking Furid,whicit be believed amounted . to abnlit
2,300,0001., and finally, the reduction he die "e!
would be atter all little less than 3,000,0001.- °g
the united debt of the two kingdoMs. This, he .'
trusted, would be found a most satisfactory viovi,'
He believed it had very seldom occurred that !g
had been found practicable to reduce the ptibllc
w ar'
debt immediately after the close of a long ..
before the. nation had properly got to its pe3c!
establishment. Instead of being able to do this, Pp
bath commonly been necessaryito cult for largelwgne -
' in the first year of peace., Undet such circintl;
I stances, though the state of the country Was na
every thing. he could, wish, be was so far fr°"l
feeling apprehension, that he could ice nothing "I
fear, and every thing to hope, from the wisdolni
firmness, and moderation of Parliament.. It. 11114
now to explain the manner in which he proposie
to pay the interest of the money borrowed fort t:v
e
service of the year. - The charge incurred by t ,
first advance of the Bank was 300,0001., the se!
cond 120,0001., total 420,0001., of this t
ab().
120,0001. would be charged on the Consoliate:c
Fund. The .Soap Tax would produce %1
200,0001., and the new duties- on butter t°4
cheese about 100,0001. if the trade continued il'o'r
present, or allowing for its falling off about 5' 0 ,
60,0001. He further had it in contemplation
sai,..:
submit to the consideration of the House, a ne_.,,
arrattgemens with respect to the dha
rawelis2;
sugar, the produce of which, WA to the 20
tit
260,0001. which be calculated o i deriving, tr::e
the sources already mentioned,. ~.ould. be "I,y
. b
than enough to provide for the cho ..e-creete",cd:
the interest on money borrowed. He coucln,i,t,
by moving that the Committee should acce,4 titv'
•