Star.
London, England, 1823-07-03 00:00:00

cheumstances, the Government infght be enabled to'
ettendllie relief: by • the reduction they hid already
reetamented, provided they Were not overdriven .--r-.
He-said•this, because in such a great concern as the
British Revenue, great harm might arise by the Par-
-liiment pressing rediactio'n too rapidly. He had no!
-doubt the Ministers would find still further means ofl
carrying their wishes for reduction into effect. They
iwould.especially direct their attention to those taxes
which pressed severely on the Consumer; • Many of
,these wetly connected ivith the prevention of smug-
' Kling, and by the reduction of these it might be hoped
!that the crime would be diminished. lie should do
wrong if he were now to speak of those taxes whiCh
bad:come under the notice of Parliament in the pre-
sent Session. He had every reason to believe that the
enemy was completely satisfied with the course
,which Ministers had pursued in their financial system.
More reductions might, perhaps, have been expected,
but that was a subject of discussion. What had been
done was satisfactory to the country, and while the
country was satisfied he was contented—Wear, hear).
Mr. MAI3ERLY congratulated the House on the
candid statement which they had just heard froth the
Right lion. Gentleman opposite. During the whole
time that he had been a Member of that House, he
had never heard such an open, fair, or candid state-
ment, and, indeed, it appeared to him, that the Right
Hon. Gentleman had rather underrated than over-
rated the grounds on which he founded his report of
the present increasing and flourishing state of the
revenue, and of the hopes he entertained of the future
.diminution of public taxation. He was happy that
the Right Hon. Gentleman had been thus candid;
for, by such conduct, he would insure the confidence
of the country. He was also gratified at the liberal
principles which*Ministers seemed to have adopted,
with regard to public trade, for such liberal views
would materially contribute to make commerce in-
crease, and render the nation prosperous and happy.
—He hoped.the Right Hon. Gentleman would be en-.
coutaged to. go on next year to reduce the 4 percents.
to 31, and the 3} to 3, which would produce a great
saving to the country. He could have wished to have
had something more definite on the subject of the
Imperial Loan. On the whole, he thought Austria
had dealt fairly enough in recognising the liability to
the Loan, after being obliged to cede the Netherlands,
for whose defence the money was borrowed. The
Hon. Member concluded by againcongratulating the.
House on•the candid statement they had heard, and
the Right Hon. Gentleman on the cheering prospects
with which he had been enabled to gratify the country.
The CHANCELLOR of the EXCHEQUER said,
the..lo4cof the Austrian. Loan was now, he hoped,
in kook of successful aegociation, with the consent
0(441.-41witiiin Government. But he would not
4462,4401/ insertion as te how it *mold be settled.
• ArikkUNlE.was anxious to see all restraints re-
. -.
aamiedflom capital. He thought that Government,
frortvwjaat :had. occurred, was now emboldened to
go on next year, sod .reduce three or four millions '
pext.xearl and theusin the following-:yeer go on again
nn~ reduce ditee or,four millions more--(Leagliing).
If the Sinking Fund was removed, the capital of the
country could be relievedby:a proportional reduction
of caution. The "ItOtlie Onitht. toknow, if in the
796 millions, to which the National. Oebt had been
supposed to'ansouni at the. beginning of the Session,
was included the amount which had been due bythe
India• Company, and, if ihtif accounts .had been closed.
The CHANCELLOR of the EXCHEQUER wit
understood to reply in -the affiiinitive. As to, the
' question of the Hon. Member respecting the deficiency
Bills; those Bills "vere not strictly deficiency Bills, but
'Bilis -which ivete issued at one Cilayter, in conse-
Auen. Wor the difference which existed in the pay-
meiiiosl the 'interest on the Consolidated Fund, in
ordetlo Make.gOod.the extra sum demanded in one
Quarter more than in another. As to the sum of tnoney
• paid to the Bank, it was for the purpose of paying
the dissentients to.the Bill of last year for the reduc-
tion of the Five per Cents:
Mr. Alderman THOMPSON laid',' if Utriertiti)eqt
would continue to maintain its foreign.Aiskey; as gt
present, there would be but little chinger to &art*
the country would soon gain the utmost prosPerity. .
Mr. HUME wished to -know what had-beconieof
the surplus of the'Consolidated Fund? •
Mr. HUSKISSON.said, that it was lodged as se-
curity for any unforeseen demands that might- be
made upon it, but the bills bore no interest.
The Resolutions having been agreed to, the House
resumed, and. the Report was ordered to be received
to-morrow.