Star.
London, England, 1822-02-27 00:00:00

.:_.,

M

rect the. attention of their Lordships, was thestasi-l'antitviimttiosettrns which
deration of how far the (loin Laws could be task& I tontioa• v
bed. and how far some change in them was rendand ibe Tr he
fIeCeSSA y ? • It would.be seen by the papers otl the , the suttiral
table, that a Comlmittee had.been appointed bt the "would be tp draw
other House to reconsider these laws; and to perfect circumsbekvs '
the plans which were brought forward last Session.— would
For his oven part, he did not think -that a change Noble
in these laws would be productive of very effectual which,
relief, but he was, at the same time, aware that much tended,
good might be done in their regulation without was by
a compromiseof any fundamental principles--(Ilear). of reducing
It was eel tainly unwise that a monopoly should pre- condly,
Tail for a time—say until the price was 80s. and that which
then an unqualified free importation should be per- too far
milted for a given time under another system ; too Fund,
sudden a change from absolute monopoly to absolute nution
free importation might be avoided. To effect this, plans '
it would be desirable that a scale of duties should be 'on the
prepared which would have that effect. This scale tom
should be nicely regulated, for upon it aroulil de- which.,
read the success of the project. At all events, it was by calli
desirable to consider the Corn Laws, with a view of to subsci

seeing how far they could be modified . lie should,
however, be deluding the House, if he held out a
hope that any alteration in these laws would afford
adequate or permanent relief. Having said this
much upon the various branches, as well of the pub-
lic resources as the public expenditure, he should
conclude for the present, reserving to himself the li-
bel ty of replying to any observations which might
arise in the course of the discussion. He had sated

an act
force
possible
tion to r
supposing
It was onl,
the sli
with the
don of

first, that Ministers were disposed to push retrench-
ment to the greatest extent consistent with certain
Fr:lr.:4)les. Secondly, that they admitted the expe-
dency cf alleviating the people's burdens by a reduc-
tion of taxation; and lastly, that they would tand

that the
he asserted
ried as
had often
As to '

. _
out for preserving the means of one jai paying off
the Debt, by plating the maintenance of public credit
to; on the maintenance of the Sinking Fund. The
Noble Earl concluded by moving—
That there be Lid before this House an Account of the Nett
I:: come and Expenditure of the Country, up to the end of the
‘‘,.r I S2l, and the Balances remaining in the Exchequer; also
At:aunt of the Funded and Unfunded Debt of the ICingdom,
ani of the Funds applied to the redemption of the same."
The Marquis of LANSDOWN began by thanking '
the Noble Earl for bringing this matter before the
House. He himself was so strongly impressed with '
the sense of its importance, that it the Noble Earl
had not anticipated him, he should have thought it
his duty to call the attention of their Lordships to
the subject. He was better pleased, however, that 1
the Noble Earl who had conducted the Administra- 1
tion of this country now for some years, should state
to the House the effects of measures over which he I
and his colleagues alone had had controul. Under
s.lch ci: cumstances he (Lord Lansdown) would have
remaine.i silt n: but that being in some measure the I
cause of this discussion, he felt himself called upon
to make a few observations upon the statement of
the Noble Earl. He wished to say that he agreed
in the general course taken by the Noble Earl in the
discussion of the subject; but he was surprised that
the Noble Earl should admit the extent of the tax-
ation under which the country laboured, and at die
same time deny that these taxes had no connexion
with die distresses of the country. (Hear).--He (Lord
Lansdown) hoped the Noble Earl would be enabled
to make the reduction of taxes he had promised, for
he could tell him that this was die only way of
giving effectual relief to the country, as he hoped to
be able to sliew that the amount of taxes with which
the country was now saddled, had a direct bearing
upon the distress which so generally prevailed—
(lfear).—This opinion he gave fearlessly. He was
aware that the Noble Earl and Hon. Gentlemen in
another place had said that it was the prevailing and
fashionable oranion of the present day, to ascribe all
our distresses to excess of taxation, but that that was
a vulgar error—(Hear).—Notwithstanding this, lie
(Lord Lansdown) would still assert the fact; and, in
considering the subject, he preferred attending to the
dictates of common sense, than of being guided by
the delusive statements of Gentlemen who came
down from their studies with new-(angled doctrines,
and who even went so far as to caution the House
against the fashionable ernris of the country. He
then contended that the amount of taxation was in-
separably connected with the present distresses of!
the country—(Hear)—lt required no great research
to be convinced that taxes conferred no benefits. The I
imposition of taxes had in general the effect of creating
high prices, though he did not mean to say that with the
(recent prices the taxes had much connexion. If the,
taxes had nothing to do with the present prices, they had
much to do with the means of suffering by these prices.
Taxation had the effect fef preventing the farmer
from accommodating his means to the absence of
consumption. If the Noble Earl could but increase
the means of consumption, he would afford the most
effectual relief. Taxation had the effect of opposing
an increased consumption. Taxation threw obstacles
in the way of recovering from the distresses of the
country. It was admitted by the Noble Earl that
some parts of the community benefited by the condi-
tion of the country. He had said there was more or
less of this distress prevalent in other parts of the
world. He (Lord Lansdown), however, denied that,
distress prevailed in France to the extent stated by the
Noble Earl. The fact was, that France was never in
so prosperous a condition. If in other places distress
prevailed, it was attributable to local causes; for in
Poland, Flanders, and the North of France, their dis-
tresses arose from a superabundance of corn which
this country was, during the war, in the habit of con-
suming. The Noble Lord surely could not mean to
advance the distress of other countries as any conso-
lation to this country in its difficulties. But the Noble
Earl, in saying that taxation was not the cause of the
distress, was inconsistent with himself. If a reduction
of taxation was not a boon, why did the Noble Earl
state that it was his wish to reduce as many taxes as
possible ; and, in any country, 5,000,0001. could not
be matter of indifference. The Noble Earl had ad-
vanced, in proof of the prosperous state of the coun-
try, that there was much ground in a state of culti-
vation now which was pasture before. But this was
in itself an evil. The fact was, that during the war
a stimulus was given to agriculture, and the distress
now felt was a consequence of the prices and demand
falling off upon the return of peace. The only way
of correcting the effects of this state of things would
be w increase the dernasia. The same observations ap-
plied to Ireland, where the consuming powers notbeing
equal to the population, she was obliged to deluge the
kets of this country with her produce, and this

or not
had been
which
believe
Mt. H,

the Sit igg . tgi
tended by Mr. Pitt. Altliough the Chancellor of the
Exchequer did resolve then to abandon that plan on
which Mr. Pitt had established the operation of the
Sinking Fund, yet he said he had the same object in
view, and would sooner arrive at the end contem-
plated by Mr. Pitt—that was, that he would engage
still for every loin to pay itself in forty-five years.—
But he the (Marquis of Lansdown) would ask if they
had then the mats of effecting that promise ? Were,
they then able to show that they bad the means of
redeeming those loans ? Had they the means of re-
turning then to the principle of the Sinking Fund as
established by Mr. Pitt ? Their Sinking Fund of five
millions was no more adequate to the redemption of
the debt in fOrty-five years, thin they were at present
able to redeem the whole National Debt. On the prin-
ciple of public expediency and of public policy, they
should diminish the burden of taxation, which pressed
so heavily on the industrious classes of the community.
The fundholders would consider their best security
to arise from the flourishing condition and from the
prosperity of all classes. He would not then detain
'their Lordships by following the Noble Earl through
all the machinery of his Sinking Fund. They all
stood on the single principle of borrowing money
from one person to pay it to another—of raising
money at a high interest, to pay off money paying
less interest. Those were principles which would
necessarily lead to the destruction of anything like
prosperity. The Noble Marquis then adverted to the
opinions of Doctor Hamilton on the true nature of a
Sinking Fund, and maintained that the doctrine which
he laid down was sound and rational. But the prin-
ciple of the Sinking Fund, as at first established. had
been long since done away—for what reasons he
would not then state; but he contended that nothing
could equal in absurdity the present system. Were
his Majesty's Ministers weak enough to suppose that
they could impose on the understanding of the people?
Could the Noble Earl expect to succeed in convincing
the people that the affairs of the natiOn were im-
proved in any the slighest degree by the proposed
measures? Was it because the Chancellor of the Ex-
chequer proposed to take money out of one kind of
stock, and create another kind of stock to the same
! or to a greater amount, that he expected to impose
;on the understandings of the fundholders? What was
I called a Sinking Fund had been convenient for us in
peace and in war, but yet to call it a Sinking Fund
was .absurd. It reminded him of the part of Lord
Peter in the Tale of a Tub. Lord Peter would lay
the worst and the stalest bread before his brothers,
I and would compel them to eat it, swearing that
lit was the best of mutton which had been laid be-
fore them—( Hear, hear, hear, and loud laughter).—
The stale bread was as much entitled to the name of
mutton, as that to the name of Sinking Fund. How-
ever anxious he felt for an additional reduction of
taxes to the amount of four or five millions, yet he
would not be a person to sanction the application of
that Fund, if he could think the principle of it, as it
then existed,necessary to the keeping up the price of the
public Stocks : but the fact was, that no such thing was
necessary ; for a re4l Sinking Fund they had not to
the prices of Stocks. In the last year they had no
Sinking Fund: in die year 1819, so far from having
a Sinking Fund of five millions, they had only one
million and a half. He w ould ask them if public
credit was in any degree injured by that deficiency?
Were the public Stocks depressed ?—on the contrary,
the prices of Stocks were far higher than usual. or
than could be expected. The facility also of raising
money did not depend on the Sinking Fund, for that
, was greater without a Sinking Fund. That was re
gulated by the profits of capital. The profits of ca,
pital regulated the rate of interest. When the profits
of capital were less. in such cases there was the greater
facility of raising money, and at a less rate of inte-1
rest; neither was it owing to the existence of a Sink-,
ing Fund. He was surprised to hear the Noble Earl
talking of withdrawing from that Fund what had
been already withdrawn—(Hear, hear).—A Sinking
Fund of seventeen millions had not long since existed.
The Noble Earl observed, that a remission of taxation
to the amount of three or four millions would not
produce any great effect on the state of the country.
But was it certain that the application of five millions
for six-years would have so much effect in 'educing
the Debt? It was not stated by the Noble Earl whe-
ther taxes weie to be taken off in prpportion to the
five millions. A remission of cases to the amount of
£1,2.50,000 would have a great effect. He would not
dwell on tint part, but be wiled to state what the

, they .
vinced that standard ought not
measure should be resorted to,

ing of land out of cultivation.
to be pursued in every branch ;
measure, and the safest for the public creditor.
Lord KING, referring to the Resolutions of the
Bullion Committee of the year 1811, said, he thought
the Noble Earl opposite would have been more con-
sistent with himself if he had proposed Resolutions
of a similar nature. For instance, if he had pro-
posed .ithat it is the opinion of the Public that tax-
ation is not the cause of distress—that France and

Poland are in a flourishing state in consequence of
an excess of produce, which is the cause of suffering
here"—(A laugh).—The leading article' of the Minis-
terial creed seemed to be, that taxation was not the
cause of distress. A great superabundance of labour
had brought about what the Noble Earl opposite
(Lord Liverpool) called an excess of produce. If
any consolation was to be derived on the subject of
out own distress, from a comparison with the distress
of others, as the Noble. Earl seemed to think, he won-
dered he should not have travelled to the countries
of Asia, where the true cause of distress would be
pplainly seen to be the rapacity of Governments—(Hear)
If he understood the argument of the Noble Earl, it
was, that taxation could not be the cause of the exist-
ing distress, because it could not produce low prices,
which low prices were the actual cause of distress.—
But in this calculation the Noble Earl had omitted
one principal point, which was, that taxation was
the cause of the increased cost of production, and
that was the cause of the distress—(Hear).—As a
proof of this, it was not now possible to derive
any profit from the cultivation of old lands—(Hear).
The Noble Earl said, the country had been relieved
from a great weight of taxation; but he asked him to
look at the increase in the Excise duties for the last
twenty, years, and then say, whether it must not have
had the effect of raising the cost of production ? He
particularly alluded to the articles of leather, soap,
salt, candles, and molt. which pressed most heavily on
the agricultural classes. The three principles on
which the Government rested their proceedings were:
that excess of taxation could not produce distress ;
that relief was only to be given by reducing the rate
of interest; and that five millions were necessary to
keep- in hand, exclusively to be applied to that re-
duction. These were the main doctrines of Ministers,
which, to be sure, during the last six years, had been
occasionally enlivened with transient absurdities. For
instance, at one time the distressed state of the coun-
try was owing to a superabundant population. Then
came their superabundant production; and the re-
medy which had been applied to this state of things
was, to carry away a portion of the superabundant
consumers of this superabundant produce l—(Hear).
And .4 it would he for sixty years longer. The truth
was, that they had taken too much• from the indus-
trious classes to give to the idle : and the.consequence
was, that they had augmented the rate of production
so much, that it would no longer afford remunerating
prices to the grower. Perhaps the Noble Earl oppo-
site would tell them that there was too much capital
in the country, and that they must take steps to drive
it out ; as he said, they must throw the poor lands out
of cultivation. These were the glorious absurdities
broached by the new school of political economists!—
(Hear, hear, hear). If they drove the capital out of
the country, it would be a bar to all future improve-
menu. The Noble Earl said they must look to na•
tural causes for relief, as in another place they had
been referred to Nature and PROVIDP4CIL But who
were the men who told the country this? Those who,
for the last twenty years had done all they could to
counteract by taxation the workings of Nature; who
had placed the country in the state of one which
possessed a bad climate and a wretched soil—(Hear,
hear). The possession of a surplus Revenue of five
millions was a strong argument for the reduction of
taxation to that amount. He believed that it was so
much desired to have a Sinking Fund to the amount
of five millions, 'to thew to foreign Powers that we
possessed that amount of surplus to do what we
pleased with—(Hear, hear).

-
Lord ELLENBOROUGH could not attribute the existing
distress to an excess of cultivation, as that bad rather diminished
than increased within the last few years. In his opinion, it was
the great excess of produce last year, combined with the effect
of the change in the currency, bad created the fall lo price, to
winch the distress was owing. lie agreed with the Noble Mar-
quis near him (the Marquis of Lansdov/n) that the great taxation
under which the country laboured, contributed to the, distress of
the fanner as a grower ; but he could not agree with him that

price , .ae producv
Now, if were true that the weight of the tax affected the con-
sumption, that which paid the highest tax would be least used,
and doe versa. But it would be found that the contrary was the
' case, and that, as in the instance of salt and wrought iron, the,.
which paid the best tax was the least used. The price of coop
sumps' had not yet reached the price of production, and until
this was the case, little relief would be felt by the agriculturist.—
' But with regard to the cawing agricultural distressek he had
no hesitation in saying that taxation had no effect whatever.—
To illustrate this, he would *appose the case of a farm of four
hundred acres, at two guineas an acre, as to the amount of pro-
duce. He supposed WM acres to be laid out as greet' 4•11 d, 454
acres as spring vegetables, and-the remaining 66 acres wheat
d. These 66 acres would produce 198 quarters, which, va-
hoed at All a quarter, would amount to ..594. With a farm thug
productive, supposing the farmer's family to consist of himself]
wife, one woman servant, and three men, they would . onsume
fifteen quarters of malt, the tax nn which amounted to aCI9. 15as
Making a fair calculation of the quantity of article. of every
other description which such a family would consume, it would
be found that the total amount of taxes paid.to tke.Crowis was
4813. 45. Of the amount of indirect taxes, which deli, nded od
pr
ice of labour, it was not so easy to get at, bin the tx;stsw_ai
be to take all the taxes which might be ctoledered to fall
en bind, and throw them back to the farmer.. By the abolition of
every tax which was paid by the farmer to the "rown, he would
only acquire an addition of four shillings price to the quarter of
wheat, and could this be considered an adequate relief ? The
only remedy was for rite great landholder to do as the manufac-
turers had done tome years ago to prevent the farmer from falling,
by making common cause with bias—(Hear, hear).
Lord DACRE contended, that the excess of production in
much spoken of did nut in reality exist, wheu, compared..with.
the increased population of the country.. Since 1813, an in-
crease of four millions had been made to our population; 'and id
the ten years preceding, an increase of one million ouly.was ap-
parent. Since 1791, there was an increase equal to five .ninths
of the aggregate population ; and no one could suppose there
was •on much corn produced for the country. The inctusures •
which had been made so generally throughout the cam. try, had
effected the change of much arable into pasture Land, aid& this
would account for the low price of cattle, but not for a super-
abundant supply of wheat corn. He saw no reason why the
price of corn should be higher now than in 1791, supposing the'
average supply was natural and sufficient. The natural price
would depend, in a great measure, upon the state of the circu-
lating medium. He confessed he was unable to estimate cor-
rectly the power of the circulating medium at the present period.
It could not be estimated by its quantity, but by its velocity; but
looking at rte sate of the currrency and the present price of corn,
there certainly was no reason for concluding that there was a
superabundant supply of corn, or superabundant cultivation,
disproportionate to the increased population of the country.—
Meat effect the change of ch.: currency, with thirty millions of
taxes, had in causing the distresses of the country, might be bet-
ter understood. It was far from his intention, however, to advise
a return to the fraudulent measure which was put an end to by
this change; but the case being as it was, it became their duty
to look it in the face, and do all in their power to alleviate the
sufferings, and relieve the agriculturists of the butd.:ns by which
they were exclusively borne down. The farmer did not. as the
manufacturer, withdraw his machinery from use till the tem-
porary low rate of remuneration should pass awry. 'llse farmer
was bound to support the poor, and tirJefore could not avail
himself of any such advantage as the manufacturer possessed.
They must not hold out the hope of a return to high prices. No
alleviation could be extended to him but a reduction of the es-
pens, of produce. Taxation rather raised than diminished the
prices, but taxadoomight press so heavily on the distressed avi.
culturist, as to force him prematurely into the market. It was
impossible to have cheap corn and dear labour--and the expense
of labour it was in their Lordships power to reduce. He could
thew that the taxes which fell upon arable land amounted to
Is. 6d. an acre, and the remission of that would be a great alle-
viation to the grower. But as there would he many opportuni-
ties of discussing that matter at greater length, he would not
longer press himself on the attention of their Lordships--(Hear).
The Bari of HARROWBY contended that the low price of
wheat was owing to the gradually increasing importation of that
commodity from Ireland. That was quite sufficient to account
for the low prices without calling in the aid of taxation, which
could not but operate in a contrary way. There was another
aggravation of distress besides the tax-gatherer, and that was the
collector of rent-rolls, who was just as peremptory in calling for
the satisfaction of his demands, and much more considerable in
them—( Hear).—He knew that, in good years, the rent was
equal to one-fifth 'of the produce of the land, and in bad years
it was six-tenths. The remedy, therefore, was more in the
bands of their Lordships, than in the power of any Government
—(Hear).—As to the amount of taxation, and the war which
had produced it, their Lordships should remember that it was
notti common war they had been engaged in—not one waged
upon a point of honour, or about this or that island ; butte settle
the question whether their Lordships and the other Iloase of
Parliament should have; country to sit in—(Hear).—Under the
circumstances of the country be could never consent to the
Sinking Fund being broken in upon. That, be was convinced,
would do more to destroy while credit than it would be in the
power of Parliament to repair—( Hear).
Lord RRDESDALR thought it was clearly proved that the
taxes fall heavier on the farmer than on any ether class. The
Noble and Learned Lord cootended that the glut of agricultural
produce in the markets was not the estisequeuce of over-produc-
don ; but ft arose from the necessity which compelled the far.
user to bring his produce Into the market without delay. .
The Resolutions were *then agreed to, and the Home ad..
journed at Eleven o'clock.
• NOUSIi OF COMMONS.

A~

1
~t
! I
_ ~I

• 10'

finding

The Unsays tout the Chair at the usual boor, and
only 33 Xlesubert; pri•sriit, adjourned the House to this

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31 tbOadailiblite Of a reduction `taxation millions, the, 'Meld vedette *bona fovey mitilealilikt tesidavaut Pr a 6.4 Wietipifil :Zip*a ititotter •
dbe to iftekd relief under the preeepritstressed eight years* Issietiewasissicip of taitatienoto the ands* [ 4..
___, ' ok4Aw_____Aa &loathe ' die notocdon otaild
mstaistes in which the people were Otis& •He 01E1,950400 usually for the MOW IlliOds_ . Weald Issw •.
"us rus" 1141411 a a eillef "i dirt aninev-
• • i Tllln we= idm the foil bwielit * the Ave odbitme; Sir. if 1
Li
d address himself to the plans laid down by the Produce *.hassieefeet •
oo the mut of tile counter.-- it was is taus ths e=lof ralefw.saa be its INS fj .
e Earl for bringing about the reduction of taxes, In the year 1819. chore was an addition of tam to in wasellisig-the wetter it wet ter feet, that *slaked&
1, from his own argument, the Noble Earl con- the amount of three millions. The consequence was, Warld lie aldsok bk. TherOhad, he believed, been male geoneeip ,
I . '
4, would be a boon. The 'first of these plans that after sin years, and after the application of the Ll' isanliall 1.11. farm* 60114 till Prleas akaal4 l#ne rail MOS
1 .
ry what heurould call the ridiculous-et cent five millions, they would have. in 1898, more tales .7. setae isOelirceir fatill? Uned• Ills Prod,' "a WO
piennee d y and illetreest of a native not aril y to Met
luting the interest upon the National Debt ; se- than they had in 1818. It could not then be said that the interests of the bat seeligly' to (homy sit. Mtn:
y, by the reduction .of the national expenditure, they would have any relief from taxation-within that prodwial aids and give k a ameba
•hoitile to Owens:
i the Noble Earl contended was already carried time. If they were resolved to serve the country, more
____,__,_ll3.llt• a bad already settled idta dkudiscd•sn. end and
die • • instances be should be •A• tct ' ill id asoa.' •
it ; and lastly, by the maintenance of a Sinking benefit might be conferred on it, in the course of six 71,it577;,,m„„ t,, put Et ono to die-r 1: 'att''c ,
, the surplus of which could go yearly in dim. years, by a remission of taus to the amount of woad ear for diocesan the qoestinn. and hr h-4:111.11 the
nof the public burdens. Upon the first of these £1,200,000. The diminution of taxes was much more seweits of the:r Lordsldpe understandlogs would be erected al •
he should, observe, that a reduction of interest effectual than a diminution of the Debt. The operation hs,msidenek"—C.llearl•
lbe Doke of SuCK INliiiit 31 distitahnott ant intenticin ei h:•• '-:
e Debt was a hardship open the public creole- of the former was twofold. it would increase the produce entering Intis those depths in political eatoopsy in welch hisr*: ! ; •
He tad also to complain of the manner in of the country, and the consumption of that produce. dee:emote in the debate had wandered. He west: bewirrerollo, 1
ft.the proposition was made to the Stockholders, The Noble Earl had called on him (Lord Lansdown) dare his dissent from those who attributed to the operation 4
taitatice the distreded state of the Agkulteral biterests. That • i
fling upon the dissenters, 'and not the :minters, —as he certainly had a right to call, as • well as on
tryi were in a state of distress,* did not need as one at that
bscribe their names, because this was giving to every other Noble Lord an the House—to give his
1
ct which ought to have been optional, all, the opinion on the operation of the plan he proposed, me of day to tell them. but Was rids the Int dew that per;.
dealer interests of the country bad been in a sofferin handkiee;
a
and appearance of a legal obligation. It was and of the future state of the country. He was of arising from the circumstances of the times?-:(hear, hair 1)r; 'l'
ble that the country would never be in a situa- opinion that the country was at present in a state of Did they not all recollect the distresses of the Maisofactwriog
to pay off the Debt, but there was no room for great distress. But if a system of retrenchment were the state Cnetatmenwth they Intereits, a few rata atet--ead what Will MOW '
1 t
sin g that it was now in so desponding a state adopted—if taxes to the amount of four or five mil- ~,,,,t ipatiryiarygwdeer.„l4lni:(ooThhe, its nature erctindprrjeli prosperity and waB agetti: f
is only in circumstances of the last necessity that lions were taken Off from several small articles of the Manufacturing classet, they wet* now employed u, diet k • I
! '
1
;lightest breach of faith should be committed consumption, a greater reduction than that contem- higAvicukhest ratuladiswtressages, oftheythewhiergehestowitinmes
t:.
the Ams to ain't/I:Laid , ti
t s„1,
the public creditor. As to the second proposi- plated would be effected, and the consequently in-r, - ,
persons had been tempted to b:ing land into cultivaddn thecae: t 1
if reducing the public expenditure, he contended creased consumption of those articles would produce dnuance of which could only be stilled by a-continuance of that s
he Noble Earl would not get entire credit, when a greater revenue. He conceived that Parliament high price of wheat which-. induced their Coltivation—( 11ear),....; t
serted that retrenchment had been already car- would act more wisely by affording present relief to Instead, however's/ their cultivation being discontinued, cher.
•
as far as possible ; for he and his colleagues the country. He would remark on what the Noble had been taken at long leases, and now plunged the trwners of %, i.
theta into that state of distress which was the subject of • iften asserted the same in Parliament before.— Earl said in conclusion, that there could be no more '
plaint. The Poor Laws also, it should be remembered, hone
) the last proposition, he wished to ask whether dangerous measure than the increase of the circula- as a burden round the neck of the landholders, *hien oppressed 1' , . 4
a there was a real Sinking Fund ? This Fund tion beyond its level. The sending out of 4,000,0001. them. These law, should be restored to what they were for..
merly, and the poor should no longer be treated as annultantil J. i
been so often diverted from the purposes for as it was propobed, would increase the circulation too ' Pt
eon the landholder. He hoped the Gentleman, with moms he .:. II 1i it was originally intended, that he could not much. As they we bound to preserve a metallic wan not personally acquainted, who had introduced this subject t b
re there was such a Fund in existence. In 1813, standard of currency, he would not stop to argue whe- to the consideration of Parliament last year, would not drop his - -luskisson declared that Parliament was applying then that should be a silver or a gold standard ; • but intention of pressing it still farther. If, as the Noble Marquis
equally
said, taxation were a causef
interest,
distress, itwould
;inking Fund to purposes foreign to those in- as they were to have a metallic standard, he was con- (be f'll .. i
e t inOtterest, of the =in-
i
dby Zr. Pitt. Although the Chancellor of the vented that standard ought not to be altered. Some try as well as agriculture Hear, h other
I was said by those
equer did resolve then to abandon that plan on measure should be resorted to, besides the withdraw- tell took that erroneous view of the tax,ear.
that the Excise duties
1 Mr. Pitt had established the operation of the ing of land out of cultivation. Retrenchment ought upon soap, mit, tallow, Sec. fell with peculiar weight upon the I -' ' f
rag Fund, yet he said he had the same object in to be pursued in every branch ; that was the best fapaergatticularly affecting the price of the produce of the land.

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