Star.
London, England, 1801-02-19 00:00:00

To thee add that part tor which Ireland all Es
434000
To make op the Ml tram required. there is a
Loan of as{ millions, betides what writhe re-
quired for the kpaate charges to be harm by
Ireland - - - ot,yoe,ooo

Total of Ways mil Moms - • . 42,544p00

LOAN!

In Dating to the CoLmittee the terms upon
which the Loan has been concluded, I feel the
tumuli fatisfaaion in the full and unequivocal
proof they afford of the manlinefs and good fenfe
which prevail is the public 'bind, at a time when
attempts were fo indullrioufly made to fpread dif-
couragement and alarm. They afford the fulleD
proof that the monied intereft, a airs fo often
the object of reproach and inveaive, feel that their
particular interells are infeparably bound up with
the general iuterefts of the community, and that
they participate in the common fentiment—that
it is by firmnefs and determination alone, in a
crisis of difficulty, that there can be any well
grounded hope of being able to maintain, not only
what is delr to themfelves, but what is molt
valuable to the State.—This proof is the more
fatisfaaory as it has occurred at a moment when
.there exifted iu Come places a difpofition to indulge,
to encourage—nay, more than to encourage, to
ibilil gloomy and defponding fentiments of the
fituation and proteas of the Country. This tranf-
,aaion, I repeat, is a decifive proof of the energy
of the public feeling, of the confidence which the
moD intelligent men entertain of the public re-
fources, and of the efforts to which we are ade-;
quate if we continue true to our own caufe.
It is a circumftance which I Date with pride and
Cuisfaaion that, under all the circumftances of
difficulty in which we (land, amidft all the un-
certainties of public affairs, foreign and domeftic,
amidft all the artifices ufually praaifed on fuch
occafions to caufe a depreffion of the public fpirit,
amidft all the particular caufes of difquietude in-1
ildioully exaggerated, a greater number of opu-
lent competitors for the Loan appeared this year
than I have ever had the good fortune to meet
with in any fimilar tranfaaion. I have next the
fatisfaaion to obferve that two different lifts of
thofe wealthy and refpeaable men, without a with
or defire to receive from me any explanation of
our political fituation, entertained fuch confidence,
not merely in any individual, but what is much
better; in the general nrength and refources of the
Country, that they came forward with a compe-
tition to contra& for a Loan of twenty-eight mil-
lions, at a price above the market price at the
time the bargain was concluded. So advanta-
geous was the tranfaaion for the public, that the
Contraaors had no profit but the difcount allowed
upon prompt payment. Taking the 3 per Cents.
.at 56, and the Reduced at 56 three-fourths, the
terms are as follows:
mi. 3 per Cent. Caeca/ are - • 70 0 0
se& ais. of Reduced - - - - aa6 0
Dircoost

sos $ o
Being thort of tool. at the actual Rate of the mar-
ket, the Pole profit confifting in the difcourit to
thole who do not avail *thcmfelves of the diffant
periods fixed for making up their inftalments.
hloll certainly the Committee muff feel, in this
ilatement of the fad, the firongeft ground of con-
fidence and of confolation. After fo Tong and fevere
a struggle, after fo many gloomy prognoftics, after
fo great an increafe of our debt, after this van ad-
dition to our expence, both from the fcale of the
war and the accumulation of expence in every
part of it, from the fame caufes that operate in
private life and in private concerns, it furely is a
fubjed calculated to banith every fentiment of
defpondence. In no cafe during the prefent, and
only I believe during the laft war, and that upon
(mall funs, was there a Loan negociated on terms
fo advantageous to the public. The ftatement is
one on which I can congratulate the Houfe and
the Country. It fhould teach us to reflect that
if our dangers are great and formidable, the
means we poffefs of repelling them are powerful
in the fame proportion.
It remains for me now to point out the means
by which the intereff of the Loan is to be defrayed.

NEW TAXES.

Aware of the magnitude of the fum for which
hrovi lion is tobe made,' am not fanguine enough to
ope that taxes bywbich between 17 and r,Bco,coo
mull be.raifed, will be wholly free from objeflion,
yet I truft thole I Ihall lay before you will be
found, on an impartial examination, to be fuch as
will neither interfere with the general profperity
of the country, nor prefs hard upon that clafs of
the community whom it has ever been the with
of the Houfe to treat with a tender forbearance,
and whom at the prefent moment it muirbe our
peculiar ttudf to fpare.
I (hall fubmit the Taxes I propofe then, under
the different heads under which they arrange
them/dves.

TEA.

The Erik articles on which I (hall propofe an
increafe of duty, ate thofe which are comprehend-
ed under the Excite, -which I fhall state under
their fcveral heads : and the fum which I propofe
to raife from the whole will amount to 586,0001.
The firft of there is the article of Tca, on the fubjea
of which the conlideration of the Houfe has then
been engaged. The Houfe will recoiled that I did
once fubmit to the Houfe a meafure of Commuta-
tion with regard to the duties on this article, for the
propofe of putting a flop to a fyftem of fmuggling
which was then carried on to a great extent. The
confcquence was, that the fyftem was put a flop
to, and the capital of the fmugglers was deftroyed.
Although at that time no more than fix millions
of pounds of Tea was imported into this country,
it is a pofitive fait that the importation has fince
increafcd to the amount of 22 millions of pounds.
The Houfe has always adhered to a principle
which I with to be followed on the prefent occa-
fion, that of laying on taxes which Mall fall as
much as poffible on articles of luxury, which
fliould bear upon the higher orders, and from
which the lower chiles might be exempt. This is
the principle by which I Mall now be dirofted.
There Is not a cottager in the kingdom who will
not, after this duty shall be laid pn, be able to pur-