Star.
London, England, 1813-03-04 00:00:00


•1 -1 - •

Avoca ANCIENT CHAIN ARMOUR, in
fleniVinserestiktr—A Carved IVORY TANKARD, emb-
lem, tbp Tehmaybot Neptune and Amphytrite, masted be sliver,
aouble glh, enamelled on platens • this b a most Ilmplikent ar•
tic* and formerly belonged to the Duke of Orbesi.—Tweive
beautifully illuminated MISSALS, one of which Is the most an.
dent that is known—Some early printed Boob: lu particular,
One Copy of Mathlinies Chronicle, of which, According to Mr.
Dibdio's Fypographical Antiquitia,there are only two other Copies
In extuence—Fine Pictures—Books—Cabinets-00m Jan, and
other curious old China—Models...Mauled Gold guff goges....
A Collection of Sculptures In Ivory—With many othcr superb,
valuable, ind carious Ankles—For Sale by W. SIiEPPAItD,
week* the Exchange, Mital.

This day was published,
1p it vela royal two. pries ill. It". bolds, the Fourth Edition,
eorrocted, with considerable Additions from printed,and
Ma-
*useript Cases, of
ADIGEST of the LAW of ACTIONS and
TRIALS at NW Prius. By ISAAC ESIPINASSE, Es*
of Gray's lon, Ilanister.at•Law.
London : Printed for J. Botterwortb; Cadell and Daviti ;
SeateJaard and Letterman • J.-Walker ; R. Loa; J. Nunn; J. Cr-
theß ; Laskin/toe, Allen, Co.; W. Clarke and Sons ;61.0ng-
snan, Hurst, Rea, Orono, and Drown; and R. Phoney and J.
Cooke, Onnontiluay, Dublin.

PARLIAMENTARY PitOCEEDINGi

HOUSE OF COMMONS, MARCH

, The Royal Clareace Canal Bill was read a first time on
Monday.
A new Writ was ordered to be issued f 4 the Borough of
Wootton Bassett, in the room of lames Kibbletkvraite, Esq.
who, since his eitetion, bad accepted the Stewardship of the
Chiltern Hundreds.
Mr. CALC RAFT obtained leave to brit% in a Bill to regulate
the practice of Surgeons, Apothecaries,' Midwives, and other
dispensers of Medidoes, in England and Wales.
Mr. KENRICK obtained leave to bring-in and immediately
brought in, a Bill to extend the &id of the King, chap. 44. sect.
er, so far as it related to cams of felooy with benefit of clergy,
so grand and petty larceny.—Read a first and ordered to be reads'
iamood time on Monday.
iir.KENRICK brought Ina Bill to repeal, for the purpose of
Extending, the 41st of the King, chap. 109, respecting the encin
sore of lands.—Read a first and ordered to be read a second time
ten that day fortnight, and to be printed.
The Irish Roads Bill was read a second time and ordered
to be committed to-morrow.
" Mr. PEELE presented a Petition from the Royal Canal Com-
pany, and artother from the Grand Canal Contpany in Ireland,
praying for relief.—Ordered to Be on the table.
Mr. PEELE then gave notice, that to-morrow se'nnight
wou.d move to refer these Petitions to the consideration of a
Committee.
Sr I. C. HIPPISLEY intimated hip intention of abandon-
log the motion of which he bad given notice, relative to the
Irish Catholic Militia; and took the opportunity to correct
some misrepresentation which had gone abroad as to the sen-
timents which be had expressed on the subject of the Cacho-
-le Oath.
On the motion of the CHANCELLOR of the EXCHE-
QUER, &musts wed ordered to be laid before the House
of all sums of stock, standing in the name of the Commis.
dossers for the reduction of the National Debt, on the Ist of
Mardi, ISIS. -
Mr. WHARTON brought. up the accounts, which, together
with a variety of other documentsrnilar nature, were order-
ed to be referred to the Committee n Finance.
Mr. FITZGER AI.D brought .n a Bill, which was read a
first time, for amending the Act regulating the trade in Irish
sowchandi ze.
Mr. HILEY ADDINGTON moved the committal of the
Cornish Miners Bill, which was ordered to be read a third
time to. morrow. -,

On the motion of Sir SAMUEL ROMILLY the Shot-
lifters' SW was read a second time, the ATTORNIT.GIIMAL
reserving to himself the right of objecting to its principle in
the Committee or •A the third reading.
HER ROYAL HIGHNESS THE PRINCESS
OF WALES.

M. WHITBREAD, as he saw ari Hon. Gentle-
man in his place, wbo had given notice of a motion
for to-morrow ( Mr. Cochrane Johnstone), wished to
ask him whether, under the circumstance that had
happened since his notice, of the letter addressed by
ber Royal Highness the Priricess of Wales, to the
House of Commons, he still persisted in his intention
of bringing forward the motion ?
Mr. COC 1 I RANE JOHNSTONE replied, that
he saw nothing in what had occurred, to alter his
•iew of the subject. It was his firm intention, there-
fore, to bring iorward his motion to-morrow.
FINANCES OF THE COUNTRY.

The CHANCELLOR of the EXCHEQUER
moved the Order of the Day, for the House going into
a Committee to consider of the Finances of Great
Britain, and that the several accounts relating to the
sodemption of the National Debt, the Produce of the
Consolidated Fund, and of the War Tales, be re.

ferred to the saidComnittee.—TheCommittee having
been formed,

The CHANCELLOR of the EXCHEQUER
rose and observed, that after the 'laborious and con-
tinued attention for so many hours, which the House
had lately bestowed on another important question,
be trusted that the statements which he had to pro-
pose would not occupy them by a long debate on the
present occasion. Indeed, as the propositions would
relate to subjects of complicated calculation, and
great importance, it was by no means his wish to call
tor an immediate decision upon them, but rather to
submit them for the deliberate and mature conside-
ration of the House. It was in his opinion proper at
all times, and peculiarly necessary at present, that
the general state of the finances of the country should
be explained, before the usual provision was made
for the Ways and Means of the year. This was called
for, by that delicacy and good fa;th which had
always characterised the conduct of this country to-
wards the public creditor ; it was, besides, useful in
informing all those persons connected with money
transactions of the country what they had to look to,
and that there might be no reason to complain of un-
expected fluctuation in the value of any particular
fund. Near the close of last Session of Parliament, a
very long discussion took place on the national
finances, and it seemed to be the general feeling of
the House, that further/measures ought to be adopted
fir relieving that depression under which they la-
boured. Since. that period he had devoted a great
share of his attention to this subject, and should com-
municate to the Committee the result of his labours.
At the same time it was impossible to doubt, that the
late important events in the North of Europe, had,
since tae period to which he alluded, produced a
great improvement in our financial prospects. The
credit of the country might now be considered as
standing on more solid grounds, and requiring•mea-
surfs of less rigour and severity than might have been
contemplated six mouths ago. A very general im-
passion at that time prevailed that France would be
successful in, the war which she had commenced

against lidossia ; but these gloomy. prospects had been
totally altered by the most extraordinary and event-
fel campaign ever recorded in tht page of history ;
•

and, though as a man Ase Mt foe the fieMble les
unction of human lifis in such various foram of at
gravated misery. yet it might be hoped that this
`glorious straggle, between remorseless ambitioh and
hardy stubborn patriotism, would be attended with
greatest benefits to the cause of humanity.—
' In the kourse of the former discussion, he suggested
that farther measures might be taken for promoting
and facilitating the redemption of the land-tax. This
ems the first measure which he had again to press
upon the consideration of the Committee; and he
bad to observe, that the Commibsioners for this re=
thaption had framed an elaborate Report on the sub-
jeer, which was now on the table, elad would form
*Se ground-work of a Bill which he meant to intro-
duce. The principal object of the measure would be to
simplify and facilitate the arrangements necessary in
the redemption of the land-tax, by dispenbing with
many of the formalities which it was at present neces-
sary to go through. He should have to propose, as
one clause of the Bill, that upon a simple notice given
to the Collector, by any person desirous of redeeming
his land-tax, the Collector might be allowed to charge
his tax double or treble, as might be agreed upon, for
a certain number of years respectively, at the close of
Which the process of redemption would terminate ;
and that the produce of such tax should be annually
applied to the nduction of the National Debt. The
second proposition which the Right Hon. Gentleman
had to make, was, that on all loans hereafter to be con-
tracted, there should be an additional one per cent.
to the Sinking Fund, for their liquidation. Besides
which, he proposed, that on Exchequer Bills and
other floating. unfunded property, a sinking fund of
one per cent. should be annually voted : and he
had to observe, that some of those Exchequer Bills
had been outstanding for so long a period as since
the year 1795. There was a third proposition to
which he wished to call the attention of the Comz.l
mittee. It was his intention to submit a measure for
the repeal of the Act of 1802, as far as it directed
that the produce of the 'Sinking Fund should accu-
mulate at compound interest for the extinction of
the National Debt. At the time of the establish-
ment of the Sinking Fund, the inconveniencies at-
tending the rapid increase of the National Debt were
contemplated, and the object of that measure was
to correct them; but the inconveniencies which might
attend the too rapid reduction of that debt, were
then kept out of view.—(A laugh from sortfe Member:.)
It was not, however, the less true, that a too rapid
reduction might produce injurious effects on the pro-
pet ty of the country, by throwing too great a quan-
tity of money into the market at one time, and these
effects had been ably and judiciously stated by his
Noble Friend the Marquis of Lansdowne, in 1806.
The only instance which he had heard of a great por-
tion of national debt being paid off, was in the case
of the Elector of Saxony ; but that instance, as re-
ferring only to a small country, had no peculiar re-
ference to this great and opulent Empile. The point
then was, that the Sinking Fund should be sacredly
supported to a certain amount ; but he believed, it
might be shewn that its enormous increase, by throw.
ing into the market immense sums of money at one
time, would produce effects similar to those of a na-
tional bankruptcy. Whether the Sinking Fund had
now reached that point in this country, beyond which
it would be impolitic to carry it, would be a fair sub-
ject for the consideration of the House; its operation
was, of course, counteracted by the effect of the lo ins
which were rendered necessary by the war; but it
might unquestionably be said pith truth, that in no
country during peace had twelve millions been an-
nually thrown into the money market. Here the
Right Hon. Gentleman entered into a variety of cal-
culations to shew, that in the case of a variety of loans
for a series of successive years, it would have been
a preferableplan had the Sinking Fund appropriated
to the reduction of each loan, been applied gene.
rally to the extinction of the debt contracted by
the first loan, instead of being applied, as it now
was, to the redemption of each particular loan.—
At the time when the Sinking Fund was first esta-
blished, the total amount of the Funded Debt of
die country was 238 millions ; and tip plan of Mr.
Fitt was, that when the Sinking Fund reached the
amount of four millions, then relief in point of taxa-
tion should be given to the public ; or in other words,
that this might take place when the amount of the
Sinking Fund formed a 45th part of the whole debt.
At present the Sinking Fend formed a 44th part of
the whole existing debt, and consequently the public
must be considered as still more entitled to this re-
lief. Besides, it was to be considered that since 1798,
in consequence of the prodigious efforts of the coun.!
try, above 200 millions had been raised in war-taxes;
whirl( sum, had it been raised by loans, would, at
the present state of the market, have created debt to
the amount of 256 millions of stock. In this view of
the matter, it might with justice be said, that the real
amount of stock redeemed by the exertions of the
country was double of what it appeared to he. The
Right Hon. Gentleman then entered into a variety of
calculations s—the nature of the plan he had to pro-
pose was in substance as follows :—That in the first
place, an annual sum of 4'867,963, equal to one per
cent, on the amount of the stock provided for in
18C2, and on which no Sinking Fund was then crea-
ted, should be provided for by new permanent taxes
to that amount ; and also that £260,000 a-year
should be added tc! the Sinking Fund, in reipect of
outstanding, and unprovided Exchequer Bills. These
sums together, would make up the amount of
£1,127,963, for which taxes would have to be provi-
ded in the first year of the new plan. The plan then
proposed to take a certain portion of the Sinking
Fund, thus annually accumulating, to a large amount,
for defraying the interest of loans to be contracted.—
In this way it was calculated, that with the exception
of the sum to be raised by new taxes this year, there
would be no occasion for any additional taxation
for four years to come. The effect of this plan,
would be an immense accumulation of treasure to the
country ; for four years, at least, no additional taxes
would be required ; and in time of peace, there would
be a large fund as a resource in the event of future
hostilities. He was fully sensible of the vast respon-
sibility which he took upon himself; in the proposal of
this plan ; but as many good and gallant men had
laid down their live; for purposes far less useful than
the saving the expences of four years war.taxes to a
nation, so he should think that whatever public cha-
racter (which was dearer than life) be had acquired,
woultl be well risked for so vast and important an
object as that which appeared to him likely to result

tar dim

_ He did not wish to hurry the mate I
die House ; all the wisdom, and leer-
information of the country should be j
bear on this vital qutstion. If the plan 1
_____, succeed, be should then feel that he had, in
some 1111111111% by this public service, deserved the
confidence of the public, and the approbation of Par-
liament. (Han finer.) The Right Hon. Gentle-
man then gave a 4 actount of the Resolutions, which
he intended in a ture stage to move. The 9th Re-
solution he had not the necessity of stating, as he
hoped the H would be able to make up their
ousda
minds on it by M y whnight, when it was his in-
tention to bring e whole subject more particularly
before the House.

Mr. HUSKISSON expressed his approbation that-
the Right Honourable Gentleman had postponed the
plan till Monday se'nnight, that Members in general
might have time to make up their minds on the sub-
ject. He thought, howeVer, it was the most import-
ant and eventfill change in the plan of the Finances
that had ever been adventured upon. His Right
Honourable Friend had said, that the plan was con-
sonant to that of Mr. Pitt. He could by no means
am it in that light, and feeling the difficulty of mak-
ing it consonant to a state of war, he would be glad
to find it consistent with the plan of „continuing the
war, and at the same time preserving the interest of
the public creditor, on which the safety of the coun-
tryt so materially rested. In this way he had viewed
1 the question, and he hoped others would do the same.
Mr. TIERNEY expressed his approbation of the
Intention of the Right Honourable Gentleman to.
postpone the further consideration of the resolutions
to Monday se'nnight. 'He assured the Right Hon.
Gentleman and the House, that no man would be
more ready than himself to promote and forward any
plan of finance which he thought would be beneficial
to the interests of the country, but he could, not help
differing on this point at present from the Right Ho-
nourable Gentleman. He had heard, within a few
days, that the Right Honourable Gentleman had a
vigorous plan to propose respecting the Finances,
but from what he had heard, the whole was entirely
different from the principles laid down by Mr. Pitt ;
who had said, that when the National Debt amount-
ed to so many millions, theConsolidatedFund should
only amount to a particular sum. He understood
also, that the Right Honourable Gentleman profess-
ed to vote one per cent. on the unfunded debt, voted
annually in order to prevent the necessity of an an.
nual loan, which was not the situation in which the
country ought to stand. The other part of the plan
was, that the deficiency should be provided for by
the permanent taxes : £870,000 a year was increased
by the permanent taxes, in addition to tie Sinking
Fund, which was a very considerable premium paid
Ito the public creditor. He, for his own part, how.
ever, made no objection to the present mode, but
thought it necessary to state what he thought would
be the impression made upon the public mind. He
thought by this proceeding the Right Honoura ble
Gentleman placed his financial reputation in great
jeopardy, from which he wished him a good deliver-
ance. He supposed he would not again bring for-
ward this measure before Monday se'nnight. He
thought, however, that it should be'brought before
the House in a Select Committee, who might report
on it, and on that report the House might be able to
judge. The Consolidated Fund was the only one
that the country could rely on in time of peace ; and
the House ought well to consider what they were
about, before they suffered any encroachments to be
made on the Sinking Fund ; for by such encroach.
intents, it was possible the plan of the Right Hpn.
Gentleman might give such a disgust to Parliamentary
proceedings, as to render the whole useless.
Mr. DAVIES GIDDY objected to the plan, as
being essentially nothing snore than calling on the
Sinking Fund to bear the supplies of the year. The
greatest advantage, both collectively and morally,
had been derived from that fend, which they had
hitherto fondly flattered themselves they might rely
on ; and he very much feared the Right Hon. Gen-
tleman would find the fallacy of breaking it down,
and depending on taxes to supply its place. He
would abstain from any further observation at that
time, but he never beard any plan which gave him
so much pain.
The CHANCELLOR of the EXCHEQUER
observed, that a Right Hon. Gentleman opposite, had
seemed to think, that the plan which he had deve-
loped to the House would disturb the system esta.
blished in 1802. But he was at a loss to know what
expectation was then held out to the public creditor,
whose property had become consolidated with the
great mass of national stock that would now IA dis-
appointed. It was impossible that they could have
any just ground to complain, if part of that consoli.
dated stock should be redeemed at an earlier period
than was contemplated by the plan of 1802. It ap-
peared to him, that the additional expense of 5e870,000
would enable the country to profit by a gain, which
would be in all probability, more than a balance to any
future loss that might result from any untertunate con-
tingencies. It had been said,that the stockholder would
not know what to look to as his ultimate security, but
was it not obvious, that he would see that the loans
which it might be necessary to contract in future,
would be limited by the amount of the sinking fund,
which might be made applicable to the public ser-
vice. It was true, that he had proposed the addi-
tional appropriation of one per cent. but this was to
be taken out of the war taxes and the supplies of the
year, not to be provided by loan. He thought the
Right Hon. Gentleman had expressed himself with
rather more asperity of opposition than appeared to
hint to be called for on this first general statement :
I with respect to time, he Was not desirous of precipi-
tating the discussion of so delicate and important a
subject, but he WAS himself so satisfied by long re-
flection, of the practical efficacy of the plan which
he had submitted, and was so sanguine of bringing
the House to the same opinion, that he dia not think
it necessary to postpone it later than Monday se'n-
night. Every document which could be desired for
the purpose of procuring every possible information,
he should be most anxious to supply. He conceived,
that his plan had the peculiar merit of being at once
simple, and equally applicable to all times and cir-
cumstances, which it was within the scope of proba-
bility to contemplate. Hi begged leave too, now to
supply an omission iiihis first speech—he meant its
operation in a period of peace, and in that event, he
apprehended that its advantages would be extraor-
dinary, and paramount above every other which he,