The Sun.
London, England, 1816-02-17 00:00:00

yitars. It was now necessary to retricAly the evil ;
and by the.proposetVarrangement, its t%vo
•from this time, at leaSt 28 millions would be
added to the 'capital of the enuntrY bY:(11';-
bursements7'front the Sinkini.; Frog:; I#y re-
fraining -,Tr'4'ol a Loan, the hist chance was given.
to the country to recover speedily fi'Pou the
distress under which it at present I:tbottred. He
then entered into a discussion of rlri important.
advantages to he del ived fIOIH the Sinking Fund,
Which, when allowed to accumulates for a ntiniber
of years-, caused such. 'millet-ease of capital as was
not to he obtained by any other -means, and ,ts
sometimes even to produce a temporary Mean-
senience to rho public by its amontit, unless' laid
out gradnally. 'As:to the town vihith 001 e.
proposed that the Bank'shotrld advance, had
been-eldubtful to sonic Gentlemen whether, in the'
present stale of itts.atrairS, 'afford so much
,as was regnired.. But when it was.concidered, that
'Of '21..000,0001: (the ainount of: the , diminu-
tion of:- the unfunded debt made the
last•,year) 16,500,0001. hurl been employed iii
the anwittst.of outstanding Excheyter
Bills,-of which so-great an amount was held by
the Bank, it wend el he'allOwed that the advance
'to the public of the sunOvhielr he had mentioned,
could not occasion' ans.}, Inconvenienee.. The
'Right Hon. Gentleman then reeapittdafed the
statement which he ints4c. Ott Monday last, as to
the state of the Finances, In addition to tlie
21,000,0001. of the unfunded,
,which! had been
paid city asbe had mentioned, there was as inueli
more
_paid up of . the other arrears of. debt 4 au
that on the whole, in round numbers, notqletts'
than from 41,000,0004 t0..42,000,0001. had:alto-
gether, been paid7Olf Tait yeltr ilhe trite! of the
grants of last year WaS about' 83,000,0001. ur
84,000;0001., 'of which not' abore one hair had
been required for' the services of the year, which
had enabled Government to lay out the renmiuder
in the reduction of debt. --•Tbis was certainly a
very,
,consolatory statement. The total exit, risks
of the present year. were not, ebriffiiltl;tl at inure
than 28,000,000 L, .or Considerabte
reductions hail already been made towards corning
at the pe:ananent peace establishment. The great
sums which the Bank had received by-the,,paying
off of Exchequer Bills, would enable the proptved
advance by them to be made without any litmus-
venienee fct the'pulitic', by obliging the Daniel()
discounts. :There was one alteration
which he intended, with regard to the interest of
Exchequer Bills, which it Was important the publk
should know. The rate of interest allowed upon
4he Exchequer BillSlSSiled laSt year, was threepence
halfpenny a•day. 'rinse which were to be now
issued would only bear interest at the rate of three-
pence farthing a day: Altho'-this might afpear a .
very trifling elinntintion, yet 'it would tieve'to the
public about 200,000/. a year. There wits it fur-
Alter alliattion..proposed
.as to the new issue of
_Exchequer Bills. h:was,inteniled that theyshosild
:be made payable to order, and. should be trans-
ferred by indorsation, instead of being 'lrons-,
lerablC•merely by deli Very as tinay. The' Riglit
Bon. Getttletn,in concluded by moving' a Resolu-
tion for.f. 'Leave to bring in a Bill to continue and
amend the Wink Act."
Mr, Batixes approved very molls Of tile Nil-.
postal advance by the Bank.' 1n t.;he proaress of.
the bill, he irate idea to move thdt only ;..1.1. per
cent. shnnlai he allow,ell asinterest tin'on it •
Sir J. NIMPOUT thqught that the Bank derived-
such advantage front the Act which suspended
their'payment its specie, that they ought to ad-
vance the 6,000,004 trithout any interest at till,
during the tinte.of the continuance of that Ac,t.•
Mr. GRUNFELL• agreed that it was 'proper to
have recourse to the. Bank for the sum that was
reptired. tie repeated several of his stateuleats
in stipport of his opinion, that 'the • Bank was
over-paid- for performing very trifling servieeS, La
the Public, Anil thought the J. bud. no right
even to a farthing ot interest charged
.upon tlic
Loap.
MANNMI SUppOrted the Motion.
After a few obso vatitins from Mr. Tierney, the,
Chancellor of the Exchequer, Mr. Thompson,
Mr, Forbes, Mr. Grenfell, and Mr. Manning; the
Re.iolution war carried.

Sir Itoamii liettoti; asked whether the salaries
of the Commissioners of Excise an,l Customs in
Scotland had not been raised since the opening of
tlitspresent Session ?

Tilt CHANCELLOR of the rACIIEQUER
that the the hull taktll place reecot)y, ill co se-

quence of represent:4l6o4;s of an older date, to
which it had been. thought proper to_aceetle,,on
account of the. greut increase whit:4 hard taken
plisse in the duties of those. offices.
Mr. 13RotIGHAM now saw the inanity or all the
professions of Ministers in favour of economy, and
of all their boasted plans of retrenchment. It 'at
last turned out, that whilst making these deciara.
tions, they we employell, not in reducing, but in
increasing salaries,. This was defended on the

grouud of an augmentation ut tintietr; but had
not every Article of necessity undergone a pro-
portionate diminution of }nice ?
Mr. Gattuwax thought that the lion. Gentle-
man appeared to have waited for an opportunity
to make a speech, and had given a most unfair re
presentation of what hail fallen from hia Right
[lon. Ftiend. He had pot a question, and re-
ceived an answer as to the fact itself, but not

the ground on which it had occurred ; and yet he
bad taken occasion to get up and make a speech,
having no relation whatever to the obicct before
the House, in tinier to misrepresent the conduct
of Ministers. If there %vas any thing wrong in
the Act of his Right Hen. Friend, let him not be
condemned until a full explanation of .the whole
case had 'been heard.
Mr. litiouGnam begged leave to state the rea-
son why he had made some observations` on the'
answer of the Chancellor of the Exchequer. The
Right lion. Gentleman could certainly not be lg..
norant that, in a Committee of Supply, any (pel-
t ion relative to the disposal of public money might
be discussed.

Mr. GOULIIURN observed, that the House were
not in a Committee of Slipplyi and that the Huu.
not in

s -•• 41. •
tientleman was therefore wrong by his own
'hewing. k
Mr. TIVRNEY thought it was clear, from what
had come froth the Chancellor of the Exehetiaer,.
that instead of retrenching and dintinishiog
Wigs, his Majesty's Aliuiliters 444 been inertding