Star.
London, England, 1827-06-02 00:00:00

HOUSE OF COMMONS.

NOINIUNGIE OIL OAS COMPACT.
On the motion tot receiving the Report of the Edinburgh Oil
Gas Company Bill,
Mr. HU MR moved tbat the Report be received that day three
aotttjka The 011 Gas Company bad entered into an agreement
wills the Coal Gas Company, by which they pledged thenueives
not to make gas of coals this agreement bad tieen sanctioned by an
Act of Parliament, in 1924, and the object of the Bill now before
the House was to set aside an engagement which bad received the
solemn sanction of the Legislature. Not a single Petition bad bet*
transmitted from Edinburgh in support of the 13M.
Mr. W. DUNDAS supported the Amentimeat.
Sir R. FERGUSSON said a few words in favour of the Bitl.
Mr. ABBRCROMBIR supported the Bill. He observed that
the nature of the engagement entered into bet*een the two Com-
panies was, that the Oil Gas Company should au make gas of
coal, without an application to Parliament.
Sir C. FORBES thought that engagements of this description,
between Companies, were injurious to the interests of the public,
and ought not to receive the unction of the Legislature.
After a few words from Mr. Joust, Mr. Bunn? Mr. Laura
mu, and Mr. Alderman Woon, the House ,divided
ided on the
Amendment.
For the Amendment
Against it

78
lif
-!3

• Majority
The BM is consequently lost.
etinsuainnuer Or TIM HOWL
On the motion of Mr. CANNING, it was ordered that the
House, on its rising, do Adjourn till Wednesday nest.
On the motion of Mr. WESTERN, the butler consideration of
the EastßetiordElectioe Bill was postponed until Monday se'seight.
menu'. ACCOUNTS.
Mr. BERRIES Men presented several Accounts of the Espee-
diture of the Country during the past and present year:
WAYS AND MEANS. —THE BUDGET.
Mr. BERRIES having moved that the House resolve knit
into a Committee of the whole House, for the purpose of sew
sidering the Mama of the Supplies to be granted to his Ma-
jesty for the Services of the current Year, the Sperker left the
Chair, and Sir George Hill was called upon to preside in tlie•Conet
mittee.
Mr. CANNING then rose and said—,a Sir, the task
which I ern this day called upon to perform, difficult
as it must be at any moment for a person who is called
upon to undertake it for the first time, is not in my case
Lassoed by the consideration that the picture of the
finaocial state of the country, which it is become my
duty to present to this Committee, is not one of unqua-
lified prosperity. Undoubtedly a complexion has bar
thrown over the whole of it by dark spots upon parti-
cular parts, which have made a deeper impression both
upon this ouse and upon the country than I think.
was warranted by any consideration of the state of our
finances; and I have the consolation to reflect, that the
nearer, we approach the subject, and the more accurately
we examine its details, the more ground we have to
hope that the complexion of oar condition has been
much exaggerated, and that if these are some topics'
upon which we may find much to lament, and others
iu which there may be much to repair, yet that there
are to be found means which, united with determina-
tion, may repair them. The financial situation of this)
country, is undisputably one which requires to be loOked
at with a steady and scrutinizing eye; but in proportion
as it is minutely and accurately examined, I see signs
which form • justification of the sanguine hopes I have
ventured to express, that the reparation of our situation
is neither difficult nor even questionable. With no
other preface. therefore, than this, which I wish to
be taken as a proof of the sincerity with which 1
mean to deal with the subject, I shall new pro-
ceed to state to the Committee, in the first instance,
what was the precise financial situation of the coun-
try at the end of the past year ; in the second place,
to combine and to compare, according to the practice
of my Noble Friend, any predecessor in office (Lord
Goderich), that year with the several years which pre-
ceded it; and lastly, to suggest what I consider ought
to be the provisions for the service of the present, and
to state those grounds upon which I conceive we ought
to look forward with encouragement to the future.—
In proceeding to bring under the attention of the Com-
mittee the first and second of these heads—l mean the
situation of the country at the end of the last year,
and its situation at the end of that year as compared
with the three years which preceded it—l shall apply
myself principally to documents now on the table of
the Committee, through the means of which every Mem-
ber may be able to verify my statements by a compari-
sion, if he thiaks it necessary; and for the third head,
relating to the future, I can only appeal to the mani-
festations which I have already given of the sincerity
with which I mean to trest the subject, and to assure
the Committee, that as it is not my intention, in what
I have to offer to their consideration, to keep back any
thing which.ought to be brought forward, or to palliate
any thing which m ty have been wrong, so I can equally
assure them, that 1 mean to press no opinions upon
their attention which I do not honestly and sincerely
entertain myself—(Hear, hear, hear). To begin with
the first cf those heads to which I have called the at-
tention of the House—the state of our Finances at the
conclusion of the year 1826. At the end, then, of that
year, after a balance has been drawn of the whole in-
come and expenditure of the country, there remained,
a surplus towards defraying the expenses of the Sinking
Fund of only one million. The amount regulated by
•Act of Parliament, s.hich ought to have been appli-
cable to the charge of the Sinking Fund, is 5.500,000 i.
sad' consequently thrle was ap ',permit deficiency
to the.smcput cat 4,500,ti0ti1.-1 say, an apparent de-
ficiency, because thtte are to be deducted from it

eery likely
two autos under different heath, which considerablY
reduce its amount. The first of these sums is the ag.
gregate amount of advances made from the Erche.
quer uncle' the aut'-ority of several Acts • f Parliament,
either for the advancement of various public works,
b sth in Mpurchase
act
Great Britain and Ireland or for the h •
-ofiteneficial interests, Which are not only
but certain to produce an adequate retnin. It is qu to
obvious that money laid out in this manner, and for
which the Government possesses claims and securities
which may be tendered evailaMe, ought not to be car.
tied to the account of the expenditure of any particular
year. These advances, together with the balance of
s'enilar advances,.advances,.amouot to a sum of 1,200,000 f.—
The particulars o this description of advances are to be
found in the Papers now upon the table of the House ,
but I think I may spare any unnecessary occupation of
its time by eines ing into details, when every individual
Member may satisfy himself of the accuracy of mr
waretnents by a reference to the documents IP his pus:
session. Under this head of expenditure which I have
mentioned, is to be noticed the circumstance did, in the
con' se of the year 1826, over payments, or rather pay.
ments made for expenses not incurred. but defrayed is
that year. were made from the Exchequer, to tha
amount of 1,200,0001. The particulars of these pay.
meats are also to be found in the papers upon the Table
'of the House. These two sums of 1,200,0001, each;
deducted from the 4,500,0001. which I have stated at
the whole deficiency of the year, left a real deficiency
of 2,100,0001. including the amount of those payments
to be made by law on account of the Sinking Fund.
Such, Sir, was the financial state of this country *
the end of the year 1826. Before, however, we take
that statement as a proof, either of the financial ability,
or still more, of the financial embarrassment of the
country, it will be both fitting and right to have recourse
to that financial process which I have already described
as adopted by my Noble Friend—l mean that of cost.
bining the amounts of the particular year with that
of the preceding year, and drawing not only an ave.
rage from the whole, bet an inference from the aggre-
gate amount. It is now just four years since the Sinking
Fend was placed on its present plain and simple basis.
Those four years, therefore, must acteally form trot
period which it is necessary to combine, in order to ar.
riveat any general result. Taking those four years-
-1823, 1824, 1825, and 1826—sand combining them
according to this process, the total income of the four
years will be found to be 5129.204,0001. or, to take round
numbers, 230 millions. The total expenditure of the
country,.clutiog those four years, exclusive of the Sink.
ing Fund, was X 9,242,000!.; or, to deal more easily
with it, say at once 210,000,0001. The surplus which re.
mained applicable to the Sinking Fund was 19,962,004.
or, to adopt the same course, say, 20,000,0001.. The
total aggregate amount of the income of the country
fir those four years, say, therefore, something mar
230 millions, the total expenditure something wader
210 millions, and the surplus remaining for the Sabel
Fund 20 millions less by a fraction. The amount at
the money applicable by law to the Sinking Fund fat
those four years was precisely 21 millions and a quarter,
leaving an apparent deficiency, for the whole time, of
1,269,0001. Against thivapparent deficiency, however,
there was to be placed, as I said before, the amount of
the advances from the Exchequer towards public works,
'er on account of beneficial purchases, which the public
have in their possession as available securities for the
repayment of the money which has been so advanced.
It would be manifestly unjust to consider these two sums
as part of the actual expenditure of the country; de.
ducting, therefore, the amount of the deficiency of the
million and a quarter from the advances so made, it will
be found that there is a real surplus resulting from the
Sinking Fund, and applicable to the expenditure of the
country, of eleven hundred thousand pounds, after de.
ifraying all the expenses applicable by law to the Sink.
.ing Fund. I now noceed to state the income of the
present year. The estimated Receipts of 1827, founded
lon the actual Receipts of 1826, amount to 54,600,000 k
The estimated Expenditure of 1827, exclusive of Sinking
Fund, 51,700,0004 Add Sinking Fund to Expenditure,
and the account will stand thus:

Expenditure
Sinking Fund

. 451,764,030
5,700,000

Total if 57,464,000
Leaving thus, lam sorry to say, a deficiency to be pro.
vided for in 1827, somewhat above 2,100,000/. Betote
come to the statement of the present year, I wisll to
state the result of the Revenue of the last lour year;
supposing the data on which I proceed to be as acts•
rate as those to which I have already referred:
Income dale last four years, viz. 1823, 24, 25, and
26, exclusive of Advances and Repayments . £121,000.010
&dilated Income of lBt7 . 54,6001(t0
—1

Teak . • 'cusp) oso
In adding the Income of the present year, I have on
ted (as has been admitted), in the calculation of the pir•
ceding years, the amount arising from advances sed
repayments, and also so much of it as arose from grub
and loans. The estimated Income of 1827 being this
164,600,00 M and the estimated amount of that of the
last four years giving a sum total of 282,608,000!• it
SulVPias nest to consider the Expendituie of these low
years, as compared with the Estimated Expenditure of
the present year.
Exiseottltivre of 1823, 24, en, and MI :
i &domed trapenclitore of iota

. 005,667,00
5i Alcoa)

Sum tad . iV37,477,000
1 Leaving thereby a surplus ha the aglieiate amount of the tamale
.ad espeoditsre of the last Ave years of X 26,600,000, sod Iwo

thing more.
Surplus sinking Nod, by law, in 1823,
1824,1845, and 11193 . . ,e21,227:765
Ditto of 18167 . 5,700,003
91.961

Deficiency of insonse, on the five years to meet the
9!akl!ig Fund required by law t . ft'
This This is the 'deficiency, as it were, by law, laid on the
Sinking Fund for a space spread over five years, for
which we were left to provide out of our present te-
sources. Now, Sir, from this retrospective considers•
tion from the commencement of 1823 up to the cad
of the present year, it appears that the deficiency is
something under 2,000,00 d. which, en a revenue d
nearly 300,000,000. spread over five years, is not $
deficiency to which I will not say even the House of
Commons should be reconciled, but which is cell .r.ly
much smaller than my apprehensions led me to ant c."
pate, and much less than the House and the Countyf
generally conceived it to be—( Hear, hear). I as.
aware it may be said, that there is a fallacy in OA
statement, arising from the circumstance which .
generally denominated the Dead Weight. W.iatese
may be the objections to that measure (and lam iteve
there are many), there is no objection that can be ni3Je'
connected with that subject. which is liable to let''T,
this account ; and I will tell the Committee *hi"
'admit that this measure (the Dead Weight) haw us