Star.
London, England, 1806-04-01 00:00:00

the Wes, and partienlaily by Midiftersa
tell the Houle honeftly what was his
that fubjee. He thought it was no me'
nor any thing which required fit perior gem
clonceived. Sir Robert Walpole, and
Minifter the country had, hots iTs de
fiderable, propofed fontething like the
to extingniffi the debt. He was, how..
pored to give lime credit to the Miniftt
fuerfed to have originated the Sinking
its prefent Otape. The country had now
Fund of near 8,000,0t001. and he Amid
ws the drat, or what was the otiidt
appeared to him, that the whole of
to keep the 3 per Cent. Gemini' at
could fee no other benefit whatever
was paid off, neither the nation, tffir
felt thebenefit. Fre& taxes were la
money had been paid off. When he
the proportion of the Sinking Food to t,
National Debt, was conilahtly increaring,
forbear afklog, Who was the better for this
It was neccllary that public credit fbould
ported I but it was neceffary alto,
should not be crulked by the weight
thought it was not neceffary to apply
Sinking Fund to the redodlion of the
loin, part might be well applied in pri
ceffity for laying new taxes. tie could
even to keep the courali_up to 601. it
neceffary to apply thosehole of this I .
reduetioo of the debt. Whitt the 'itj
not Co great, but only dmtifffike ,st
the confide went,gbelttiocolv;ar;44' at
Verent, itioetweitithatAte
concluded by declaring. that in fubmit-
ting there obfervadoes, he 5 ots_offielioktiroli3T
embarraffinents in way the Gbatromekt. a
had hitherto attended too r. to thole tablas OE
the Leh twenty.two years be bad ditched his
Aloft entirety to the affairs,of Wis. He
that while hood alone, and without Cu;
eouragement, for the intends of that
empire. It was known that- he was bi
difroiffed from that duty s he IMAM, lijefore,
future, tarn his attention make° gm Otis
..policy, which he bad hither too mach of
Mr. Secretary FOX laid, he thoold
the Houfe at any length, +kith ideal
&Mums wbWs concluded the fpeeth
Honourable Friend. If brhitd flood fo
alone for:the intereas of India, without
without encouragement, the Honourable
thud Itinsfelf conieh, diet if be had
meouragement, he bed no reafon
being defected. In many of the obi
made this night he concurred with
particularly in what he had hated
emplionK Theft were, however, by
tiOns to the 'principle of the Bat, but
matters of regulators and detail, eel
revved odd% the Bill bad gone into the
What the • Honourable Cventleman
was not any thiog new that ;was
Dgefent Alm, but st was part Of the
-,-oto been paqtoodellodes the former
fon who had only en income of +pl.
[looiiita tax, and
in the finks nflame, vollided from
' granted the annuity. He knew many
' this kind in the (mall annuities granted
ar Bedford, and other Noblemen. The
operated immediately oo the ennui
`shards
from the perfon who granted
INfrattls appeared that the annuitant
~come than this annuity, be was reps
the tax. This Irma difficulty which
year, and he knew cafes where a
Pant with bufipefs had been at as
obtain information how he was t,
tax itfelf amounted to. As it man
with of every Member that thole difficulties
as much as poffible removed, wL
come into the Committee, every
nature would, of costrfe, meet the
tivn. As to the unfunded debt,
he took of the fubje& (but fir
wrong), was, that as Exchequer
premium, that premium would be fu
the exemption, that Government w
at much lly it as by the tax being
fubfequent converfations wish men
thofe fubjeas much better than he
the premiums, which they often bea
fome collateral caufe, and thetefo-
his fire opinion, and thought the
as funded debt fkould be liable

Sla►
`, fit
__/

the Sinking Fund, the Honourable
tbat MinifFers were always fond of
his part, he mull fay, that he Awe,
the rime that he was unconnefled
well as at prefent. He did not
the Sinking Fund was any cam
that required uncommon genius;
that any Adminiftration that could
ed immediately after the American
introduced the fyllem of a Sinking "
or other. Whether it would hay
it now is, he could not fay; but,
tion of a Sinking Fund was at that
obvious need:My, yet he always thought that the
man, who did introduce the fyflem, and place it on
a proper foundation, was deferring of confiderable
praife ; and, in that point of view, he at all times
was ready to exprefs his (cafe of the merit of the
Right Hon. Gentleman (now no more), who intro-
duced it. If the Sinking Fund had no other effet
than what had been Rated, of keeping the 3 per cent.
Confols at 6cl. which would otherwife be much lower,
it was evident that that alone was fo far a politive
relief to the country. that when the Funds were high,
the Loans were contra led for at a fmaller
and confequently, the taxes which were to be railed
for meeting that interea were alfo fmaller. It was a
matter merely of arithmetical calculation. If, inflead
of 601. the Confols were at 501. it was molt evident
that the Loans would be made on more difadvan-
tagentia terms, and confequently that the inrezeß
would be a greater burden to the nation. He knew
that there were many able men who doubted the ad
vantages rf the Sinking Fund, but noti.ing that he
had ever heard had either altered his conviction, or
even railed a doubt Opon his mind. He would not
fay that becaufe it was now necefrary to apply the
whole of the Sinkirig Fund to the reduBion of the
debt, that it might not be poffible that the time would

grants even beyond the relent year, he hoped they
would not afcribe it to economy alone, fence tbc—
grants of the prefent year were greater than chute of
the tall ; and it appeared to him, that the NohleL,rd
had taken five quarters of revenue to Meet tc or coat-
tens of expenditure. His only reafons for trooUhrg
the Houfe fo much at large, were, a with to defend
the memory of his late Friend frum any tinfolm-ira
imputations, and to prevent any wrong laws:fauns
from going forth relative to the deficiencies
had been Hated. He had no intention whatever to
oppofe the meafures which had been prorfed
tO
meet the public exigencies. The fituation of the
country was one of danger and of difficulty. 10'1 ,re'
quired the molt vigorous exertions. Whatever &Du'
fence of opinion might cliff on tome points, he
ed the prefent Adminiaixtion to.eujoi the cnn6der'ce
of the country, and to be a terror itav the aneasy•
Great fateific•a mull be madet.buftbey were @after to
be ctdored, than that the country fhoold even thitik
of tiulliag to that infulting fulbeArantsy on vAtinhf''
many of the Cmtincntal rowcis depended their
exillence.
The CHANCELLOR of the EXCHEQ Jt-re•
plied, that though the Honourable Geutre r en-
-1 feted Cu fully into diffufe obfervationt to inv .t:

nen, he &Gold : arrive when it woold not be neeorary. He knew that
his opinion on ,it was in the contemplation of that Right Hon. Gen- ...,
10 new dircovery, tleman who introduced the Sinking Fund, that tittles '
or genies to have of profperity might come, when part of this fund
insialmoft every might properly be applied to the redudlion of the
i debts were con- taxes, and lightening the burdens of the nation: but
I
the Sinking Fund he could by no means think that tkat_timi. bad t 4
however, Hilt elif, - • . - -ViridiFtirprat-IG t.beett /gm
lamaa
diniller, who was as the only remedy for all the evils igate thariihs• 0
Sinking Fond, in taking of thiadlpllllllllNFOrtifilt-Banki-lororttlettly
id now A Sinking walled to feeds* . -: • •sneedestal had often
illioold elk, what oppefed it as -..., , . okkpeplaggelrfrirlin,
or 7ligit t.lt he had always., • ''' pead*ll.,44 1e1101‘...
0 ii/I a was I ' ..6' St it,,.. W, a; Fut ..444b;
it ahem '64. 'He ' ' •:' leis 1,•,;
i; • .ite.. • it ,
.
r ltont*lt.."lf ifiol• Y .' ' .s.' 'i it ' ' • • ' bailk
ter ant iadivi4ual ment of 'every war, that'll", • p, a, ulgiValre
lairl•jult dm no once near'? the
_extent 4 ,1111
aea, which it
he was told, that would be called- to pap. ,Mett there taut
to the whole of the fhould be fealed-lor four or five ars, if the Wint • ib.
raffsig, he c dui d bot hotabi Aid la Isseg,,g and "het. ithebe ,
r for this inereafe ? startneetarids•ilwlear ateierpeteedA negliblimitieds .•
lit flsould be fop- He imparted 'with Ala spidesrAllophilfed,4l the
I, that the people Hon. Gentians'. that the psefese stioseCoraiWilist
tof new Mb- tie Who eatolloil:so times efstratt imuisial pads*, p
y the whole of the he thought they werctieree bf iiirwiabyreatieldric
the dole, bet that the• Noble Lod (Lod H. Peat) dm onlllolll-te v
preventing three- . confiderable 'mile. for hewing,, in heloilimmimmlir•
old not adage. that taken fo arduous's Wawa. . a .....0r.,,,.....tt
.it was abfolutely Mr. F R.A.NWS . and M. F arelinelk
• I millions. o the plained.
Slaking Fund.was Mr. HUSKISSON kal, - .
blt of,lbvett - the iaell&te of the hiVi` taird 4°
. 4•6 WO ,it thessi••4lll-.Adeltio • leis- lee
t 4
arseitlesAM of tboduemiese is shy slii'Nelile-3.614 previous
ug. that in fulonit- to hiresseeagisharildisiettaii► g gotta Illeedtßrd
s ofileetAtlarey) ' wadies a4e,.ln suirereb-aoleheitlead Mew 1031"
Goals:not. ' e an Honourable blembeelbinikhoefiktedlielltmelte
thofe fisbjelts or Sinki feed...dir the year i 79801 bi • isilkilltiaid
direeed his mind on the at-the rati,orfl. I tritd:tit. .
*die. He had all The Cite ?M. t e,pilfent yettrifle been ecor-itTaw ed
tout (option eras. et We say r efist •
.A "Fe
I that peet•pf die iiffb tab unisi, 'Alt r
~iit c.ipsg
101 l
was difcgded ipid 4.lesindeild Se .:i!< ~ e‘r, 'nk
d,otejefore,forlh, - lidi lijill idrahhi IRA 11:,the4,
radials of general -1:- if Ms, blirolk pg,...„ ...n,c, ilif;r4t, .
Poch negiaate& Vette' heed:l4of edUil a me yef Iles of(
Wield not 'trouble • • '-yeti. Vhe'ettikeitieht'ilf the iiLcird, d
ideating ids Mit made a confider/hie' Ortiptltibt- bit viii %Mit' t
peeth erhis,.Right Ceased to NW., fromwiltiti,:tepiefletilthiiii'•eillher .
toad fo many pars that the losi CbsseederSif dielbkhettiset 1
without rAppott, be inestequateprerrifiss for **paleitart ei idsra
°arable Gentleman Audit ,ette•Witte liar lidellM',Siii .11.611110111-
ad netcr Ina etith ently produltiire, or lafily, that his late idelbeltills
On to complain et, ,Fsisad bad -fiewsk-ft'eoi -bap day, in temeessibisg
nbfervations he bed. gursifien for all .the -delouse which be,fastafivolds '
Ith him, and more likely to Ise•nradeew die•Bablie. lisillaNdiliAlstelt-
d refpeitiog the ex • fore. trouble the liana with Woe oallotyhwalkAllw
by no means object various items of deficiency, as they dud bMadiessit
but were merely on by the Noble Lord. The PR A ejleititty
which might be re• in the predate of the Lpod jcad •ii ;;Ditie, ;
lis
o the Committee.—, put this ludiyxifind, every ,y. eer,fiece Nig me P!
lan bad obleftsdito. •iiplife.4 gectkookne.Aptiwkoot kg +il
dr,
s introduced in tba charge „particeisiirtiom,,,jon Ibi, • sod.
se fyllem which n
hid tiers. e fecond wen the OrdoseeN. 1
e fonnordbot per! year 000 AtAkiiiild. unprovijgth furl pi
44 a year by watts. at S•§l444.llo4.llowvai,a,teitrirassesetpift
and yet the tax wss yearsoiti "deb thole clargaselandlautinisibtftiore
one she
.perfoo Who confiderable, mifateipresed debt*
sun cir-
teal
many afiances of cumftanci.' 'Asian, the million tti /Is to the
tented by the Duke Eaft India Company. which the ,Ifekle d had
1. The Income Tax mentiovid es an. of the charges
l oflbs t year,
'fruity. and was col. could not be wandered ii anirtear •• e year.
trip
led it,.bat if it after. but al
other liti incidental charge, which • •
.. only be a
ant had no er in• provided *after It was afeertaised. d phought
e paid the amount of it necefiAry to Mike deafe ebferwititas . the de-
ich he had dated lad ficieneies to be provided for in Atli year,
I perlim not coney-- though he could botfuppofe they itete'hi,b ht for-.
u much expence to ward by the Noble Lord with theta,' lot
s to proceed. as the refleaing on the meeserf of his , ,
pi
aid of courfe be the Friend. The protlfias Made for the, intledj Lord
difficulties fhoold be Nelfon was an incideatal eapence oftheprefel
-n"
when the Bill should fimilar to that which he had loft neentiosed. e •
obfervation of that next item of deficiency which had bolts nicotined,
se molt ferious omen- was one million, which would he necifcry for All-
the firit view which filling engagements with Continental Powers. 'The
rft views were often impreffionpreduced by this Ilatement was, that the
✓ Bills are often at a Vote of Credit for threemillions and a half had been •
efo far encreafed by expended in. thole firalidies, and that one million
t would be benefited more remained to be provided for I but the fall was,
ng levied ; but upon that on the sth January, i 806, there remained in the
nen who underilood Exchequer the fumr`of 460ch0001. of the money I
be did, be found that railed on the Vote of Credit, which hid•been Pittly
bear, proceeded from appropriated to other tares. The next item was, a
fore he had given up deficiency in the Ways and Means of loft year : but
he unfunded as well this deficiency, he contended, had generally ocenugd
to' the tax. As to add mutt always be looked for. The tuts of one suit-
able Gentleman laid, lion, being part of the Vote of Credit, had been sip-
of extolling it—for plied to the fervice of the Navy for the prefent year:
'ways did extol it at and therefore might be fairly confidered as part of the
td with Minifters as Ways and Means. He thought it would tend cann-
ot mean to fay that &rally to fimplify the public accounts, were the re-
raordinary dircovery mains of grants of a prectding year placed to tilt
s j he was convinced, credit of the following, while all the outflanding
;old have been form charges were het in oppofition to them. The Noble
can War, mull have Lord bad pledged himfelf to the public, that the pm-
ng Fund of Come kind fent Government would be economical in the wen-
ave been arranged as diture of the public money. He did not mean to ail
t, although the crea- in qiteflion this pledge, but should they be able to
that time a matter of conduet the public fervice on the credit of the prefent
Iva thratoht this. dip ',ran. pv•rt hparnnel rii.....l:fte ....... h. booed they