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

And on Sth January, 1816, maximum •
And on sth January, 1822, by page 178 of.the
Finance Account

Diminution since sth January, 1816 -
Unfunded Sth January, 1816, in Ex-
chequer and irialiTreasury Dills, per
Nu. 35, of 1819 - £45,938,823
And on sth January, 1822 . 41,514,061

Real Diminution - - £23,423,924
But the Chancellor of the Exchequer says that the
diminudon is -
lids is accounted for a. fellows, viz.
Of the Loans raised in 1815. for which no less than
St millions of capital was created, at the rate
of 4100 for every • £52 of money received,
.05,939,863 of the money remained to be paid
after die sth of January, 1816, although the
whole of the capital created was included in the
account of 1815; and with the £5,939,803 of
money received in 1816, Three per Cent. Stock
was purchased at 62, to the amount of 9,563,082
And there was cancelled between the sth of Ja- •
ovary, 1816, and the sth of January, 18242, by
conversion in life Annuities - 3,268,964
In 1816, there was received from the Bank three
millions, at an interest of three per cent. with
which three millions there was cancelled of
other Three per, Cent. Stock, .C 4,840,000, being •
`an excess of . - - - - 1,840.000
And in 1818, 22,999,920 money was received
from certain holders of Three per Cent. Stock,
to the amount ar £27,272,000, for converting
that meant into a Thee and a Half per Cant.
Stock, and with the £2,999,920 there was pur-
chased of Three per Cents. - - - 0,846,000
And in 1820, • seven millions of Exchequer Bills
weft funded for 446,930,000 of Five per Cent.
StOekorith which ansount of 8i1150210,209.,500 •
of Three:per Cent. were purchased, being- an
excess. of ----- . 3,272,500
'And there has been cancelled of 'three per Cents.
by the Operation of redemption of Laid' Tax 664,032
Total.dindnutitin accounted for - '£2%454.578Leav;-

224,766,580

land, had'now given place to one of grace and con- _ ...airing, by the operation of the Sicking Fund, a
ciliation. He hoped that steps would be taken to re- diminution. of only 2,311,9444 according to the
lien as much as possible the Catholic from the pay- Chancellor of the Exchequer's own statement, and of
ment of tithes. 13y the declarations of last night 968,7561. only, according to the real fact, although
much could be done to produce tranquillity and con- in the same period there has been an actual excess of
ciliation in Ireland. • taxes of no less than 7,528,8691. as stated in the note 1
Colonel BARRY said,.that for several years-many to the 16th Resolution; and so far from there being
Clergymen in Ireland had receivednothingfrom their any diminution in the annual charge, .although the
livings.—He approved olthe Bill. rate of interest en the Unfunded Debt has been re-
Mr. V. FITZGERALD thought the proposed snea- duced from Sid. to 2d. per day, making a total re-
sure had a tendency to conciliate all classes •of men duction of no less than 911,500/• per annum, the
in Ireland, though he would not pledge himself to the amount actually charged for interest and manage-
particular details of the Bill. ment of the Unredeemed Debt, Funded and Un-
Mr. GRATTAN thought the present measure the fended together, has been as follows, via.
best that had been adopted-for centuries. In 1317 - - - £31,266,601
Id 1818 - - - 31,3519751
Colonel FRENCH save his warmest approbation in 1819 - - - 30,722,025
to the measure. la IBM - - - 31,256,120
Mr. GOULBURN, in reply.to a-question that had. Ia 1821 - -- - 31,966,078
been put to him by Mr. HUME, stated, thatit •wasin- The Hon. Member concluded by strongly contending
tended that the composition should-last for a- certain that at the present time as much relief as possible from
period—fur instance,.2l-years ; -but that ;'valuation taxation should •be granted, till all interests were
should betaken every Vim years, in order that the brought to their fair level, and that not till then any
income of the Clergyman might always bear a fair efforts should-be made for the reduction of the debt.
, proportion -to the existing.price of corn.—Lease•was Mr. J. SMITH could not attempt to enter into-the
then given to bring in the Bill. calculations of the Hon.. Gentleman, nor did he much-
agree with him ; for, in his opinion, during the last
SINKING FUND. war, it 'would have been impassible for this country
: The CHANCELLOR of theExematTEßtnoved to:Ilan -obtained supplies without the existence of a
the Older of the Day for receiving the Report onthe
National Debt Bill. Sinkingjtind. He believed that it gave a security
to the Government Contractor • which enabled him
• The Report was brought up and received; and on to afford• such terms to the Government which he
the question for taking it into consideration, could hot have else afforded.- When the Consols were
.• Mr; CALCRAFT adverted to the difficulty he had as 47,E nothing but a Sinking Fund could have sup-
formerly stated, which appearest to him as quite de- ported, commercial credit. He -was glad to find,
chive -against proposing-the father repeal of taxes, therefore, that the Government was disposed to sup.
if this Bill were once allowed to pass. He was there. port aSinking:Fand ; though, at the same time, he
fore under the necessity a opposing the progress of knew that nothing could more support public credi! .
this-measure; though he assured the Right Honour- thlatecooomy and retrenchment. He heard the other
'table Gentleman- opposite that he did•not do so per- night a-speech which gave him the highest satisfac-
versely. -He was for applying a surplus- revenue to tion ; which proved that the new system of Govern-
the --reduction Of Debt when the • &saucer Of the went was for economy and retrenchment, though the
country- would bear it. Her theiuglit,.. hoivever, that former had- entrenched themselves behind theit Par-
the best security of the public credUOr.mas to ,be liamentary iuftuence, and refused all reduction until
found in the prnspeeitY of the vounkry, rather thela beaten out of their 4trogg bolds-. When agrzer.
in. :the preserratien• of 'the Sinking-Fp4d. • With, i • .• . •
eaouara7 • was established, they wOnM .the - ug.
view, therefore, to the consideration of me. quest*, Fund have its effect in-reducingibe.delat. For sea-
whether a further reduction of talation ceillti not be sons he had mentioned he should support- the_motiiiit
effected,- he'should propose as 'an amendsisent,. that of the Rklit lion,Ginttlemaa- i • ..' • • :•. A.•
the further consideration of thie.l* isertirtOoekponed Mr. 4ONCk believed tliat.theaSitikine Fitn4 tett
to the 20th of April, and upon-this DiStiost he Shell! up.tbosiotbs; but be did not believe that it had any
take the sensoof the House. -Thittionieilbr of the effect in reducing the Natiort4Delat. Our Debt•ba •
Exchequer had stated• the necessity of pasting the Isiten.so•contrjeed thatitOstetl44l fre.Oltinieletcd i
measure before, April,' for ese-purpoie• of in ficili- fegitko,meese we jtheoilawesieweii; ire_iiitp.,
tatiag the teahill up'of.'the -Palk heeth3lo3 i'bilt loud the system of dabbles. int,a Three per .Lee '
the-oily incoonneencr-vettft.„lyrodld- arisefrodt dr. •i stegic v add COntiadit.4olleildination weuld-rei-re-,
postponement, would be the making up of the tidbit it' rfceytbat w • 4,,A4 bon.*rowed attat.
jeCOgati .in July Meteor/ sif April. '-' Herepeotert his V may,Geottemaikbacei. e brisrowe4 at stick an --C2'
Witt. that a remission of -toilitienivikhetate plait tolggan,rate„;a44.qrd,Clianc.elrots,-,ip,.l4S'Ciihrt&
withuur aity injury-to. public- -credit ;' for 'the/itr ntier whuld uot bald him tipmnrkeo pay flilime prihetial or`
sows a titne,methen a ciefitiegicr Cif 4eVentre-wittelest 't4P ;oterera;Thete seethed' to-be osierior 'as to What NI&
be apprehended than at present. Removed therefore, lic credit was; foe under such circuM4,araces we could