Star.
London, England, 1829-05-09 00:00:00

PISS LASS ist haLmss.

Earl DA ENLILT adverted to the introdon which be W es.
premed. ma a former occasion, to introduce the Poor L.e. o
Ireland, and observed that it must be !Down to :heir Lsd•klptr
that a proposition bad been made in t►e other House id P. 4
meet on that 'object. In the debate Which roused last night, *
was a smistectioa to itoow, that. among the numerous "pesters
upon the proposition, there was DOC one why did not admit that
the system of Poor Laws must be partially adopted, with a 'kW
to the relief of Ireland. The Noble Bari added, that it was ant
his intention to do any thing himself, due.ng the present Nes• no,
upon the question, but his hope was. U. .1 during the fetes. h
Majesty's Government would turn their site .lion to h, and brdtg
the question forward neat year. On Idersomy it wee his inns ion
to move for papers on soother subject, and be should take the op-
portunity to making fiddler observation.
Lord MALMESBUItY emoldered Monday an Isseenvepiest
day for the Noble Earl's modem
Earl DARNLEY said. his motion would rot occupy muck
dine. He did not anticipate upposkioa. It theta uas likely to be
soy he should not hting it on.
The Marquis of CLAN itICARDE be go I leavet o say that he
should oppose any imam* which might have she erect of intri.-
doting the Poor haws to Ireland. it was fortunate for
that the attempt to introduce the Poor Laws would be made at a
time when those lows appeared in the worst deformity. At no
moment could their Lordship* be made more sensible than at pre-
sent of the impracticability of the Englisla Pow Laws. His hope
was that their Lordships would net nsahe the people of Ireland sot
fer the evils which the Poor Laws bad produced in England. It
was a fact well known that able bodied men were then t-king
from the parishes in various parts of the country three shillings a
week. Toe root Laws in Ireland would produce a general state
of pauperism.
Several private Bills were then brought up from the Commons,
and read the brst date.

raocutintos to camiscetyr.
The LORD CHANCELLOR said hd had to lay ea their
Lordships' table a Bill for giving further tacihty to pr.weeilints cd
justice In the Coon at Chancery. Hi. Lord.inp accordingly moved
the Rill be read the Ant time, and gave mkt that be .Isuold muse
the second reading ow Tuesday next. It was his interne, to state
en Tuesday the circumstances %shish gave rise to the Hill. snetthe
way In which It was connected with the Report of the Common
Lew Costintbolosem.

Taw Hill having bees read the Arve date, the House Adjourned
to diandey.

HOUSE OF COMMONS.
The SPEAKER took the Chair it a guano to foot o'clock.
Mr. JomNsow, frost the Secretary an Nt.te's Me anal Mr.
Fuses. from the Musk of Reiland. attended sad handed in some
papers.
Mr. Alderman WOOD presented the Report of the Smlthe
Market Committee, and the Loodon bridge Approach Bill. sad
the former was as-tiered to be recommette4. Atter a few words.,
from Mr. Talsarfall Mr. Deems 11, Mr. Selma? Weans% and
Mr. Wont), the Boole went into a a otnellictife 00 the latter. .

Mr. TEHHYSON proposed an amendment. which was subse-
quently withdrawn.
The House then resumed, and the upon wu ordered to be re-
ceived on Monday neat.
Mr. R. COLBURN presented the Report of the Dover Este-
tioa Committeeg which stated that the right of voting rested with
the reskient and ssess-reskient barges...; thus confirming the late
election.

Air. J. WOOD presented a Petition from a person of the omit
of Pitt, who stated that be was Agent for certain persons whine
interests would be materially aimed by the mods* of tbe,Loadon
Bridge Approach Bill. and praying that it might opt pap int a
law. The petitioner further stated, that be bad applied (or leave
to he examined before the Loodon Bridge Committee. hot wee
refused, unless be paid certain fees to the Clerk of the Cannsittce,
which the petitioner objected to, and did Doc pay.
Mr. SPEAKiLIi said that the clerk was in the habit of receiv-
ing fees from all parties examined before the Committee of the
Home; the table of fees was two hundred years old—(A laugh).
He would, the Ant case/Went opportunity, Moat into the Journals
el
the House, and ascertain mealy in whom the right of receiving • •
fees in such cases was established, and report to the Horse so the
subject.—The petition was ordered to be withdrawn.
Thu County Bridge Bill was brought up and read a seamed time.
• Lord MILTON pieuesd two Petitions Irons Leeds sediTlit.
lad, against the renewal et the Honourable /hot India Cnespoey's
Llierter.—Laid on the table.
Mr. HUME nnooneed a Pedalo from the Gelidity of Perth
against the &sick Gad Id; and another from the Woolstaplers,
and Member* et de Andaread Tax Society II Niddernd.ut

against the Cern Laws.—Beth Petitions were ordered to be laid ea
she table.
Mr. PEEL, in answer to a question from Lord Althea?, relative
to the disconisa of the Small Debt Bill, said that it was with great
rehtetutee that the consideration of that Bill was postponed. It
was a question of great importance to the public ; but it was neer,.
suy. heftve it came before the House to be discussed, to ascertain
the compensation of persons bolding patent offices. The question
was at present under the consideration of the Commissioners ; and
as soon as their Report should be obtained. the matter would be
brought before the house for discussion.
After a few words from Mr. Bastes and Mr. Pus.
Mr. BRANSBY COOPER presented a ?Aldan from the
Council of the Royal College of Surgeons in London. against cut.
tale clauses of the Dissection Bill, and praying that for the present
it might not pass into a law.
Mr. WA it BURTON believed that the Padden was not against
the principle of the Bill, but rather against some of its details. He
was inclined to think so from the circumstance of the petition being
signed by some names, which were also appended to the petition
ho (Mr. Warburton) had had the honour of presenting to the Hosea
a few days ago in f of the
Mr. Secretary PEEL thought that a very reasonable request
bad been made; it was but proper that the very eminent body
from whom the petition had come should have time to be made
acquainted with all the details of the Bill, which bad only been
printed that morning.
Lord MILTON said a few words across the table.
Mr. Secretary PEEL asked if the Noble Lord was aware of the
evils that the present Bill was meant to prevent ?
The Petition was ordered to be laid on the table.
COMMITTIZ Or WAYS AND MEANS —SUDGIT.

On the motion of the CHANCIILLOR of the Exenacesa the House
resolved Joel( him a Committee of Ways and Means.
The CHANCELLOR of the EXCHEQUER then
rose. and spoke to the fallowing effect—Sir, is rising to
address you upon a subject of such vast importance as
that of the income and expenditure of this country—
a talc confided to me by the First Lord of the Treasury
—I do so under feelings of a varied and conflicting
nature. I feel conscious, on the one hand, th it the
statement which I am about to submit to the Com-
mittee, as to the revenue and expenditure of the coun-
try. cannot but be satisfactory to those best qualified
to estimate its value; and I feel equally conscious that
there ate incumbrances on the present condition of the
country which, in some degree, throw a cloud over its
prosperity. and a partial gloom upon its future pros-
spec's. But I feel conscious, also, that the revenue of
the country is not only fully adequate to meet the
charges imposed ut•on it for the public service, but also
to the increase of that fund, which. at the recommen-
dation of Parliament, has been set apart for the reduc-
tion of the public debt. This, I r-peat, is a satisfactory
consciousness ; but. on the other hand, I am not insen-
sible to the present less pleasing circumstances of the
country. In common with a neighbouring State, Eng-
land has suffered from the failure of the late harvest.
With that nation she shares also in common that de-
pression of trade, and commerce, and manufactures,
which, after seasons of more than ordinary extension of
operations, will occur. We labour in some branches
of our manufactures. under an extent of distress which
has been frequently brought before Parliament, in ono
shape or other, during the Session. and in other branches
a partial depression is exist ienced, which may alway►
be expected occasionally to occur without roving that
our trade itself is materially or injuriously affected. It
does Dot eater into the duty I have to perform on the
present occasion that I should inquire jab the ceases
of those (which. I trust, nay, am confitleut, will prove
only temporary) distresses. Honourable Gentlemen
will ascribe that disttess to various causes, according to
the extent and nature of their information. Some will
attribute it principally to the defic•ency of the late har-
vest; others,to those measures respecting our currency
which have been some time in progress. and which are
now brought to a conclusion which. I trust, will be found
to have placed that currency upon a firm and solid ba-
sis, and prevent that fluctuation which has been pro-
ductive of so much mischief ; others still will find the
origin of that distress in that spirit of over trading
and speculation which has in some meanie prevailed
throughout the country, and which were conse-
quent upon the improved knowledge of mankind, and
the consequently increasing extension of machinery, by
which the power of production of our manufactures
was pushed beyond the actual demand and consump-
tion, and which tended to produce repletion, and con-
sequently languor. But whether the existing embar-
rassments of the country are ascribable to one or all of
these circumstances, I think l shall be able to satisfy
the House that there is nothing in the present state of
things to warrant despondency respecting our re•
sources or prospects. think the House will agree
with me, that that unpleasant state of things Is one
which. in order to terminate, requires patient forbear-
ance of those suffering, rather than active interference
of Parliament. With these feelings, and with these
•iews, my duty on the present occasion lies within a
very narrow compass. I can conceive no course more
objectionable, than on an occasion like this to enter upon
the consideration of questions capable of affecting the
public securities sr revenue of the country, and.
therefore, all which devolves on me at present is
to present a distinct statement of the financial cir-
cumstances of the country—to lay before the House
at as early a period as possible what has been the
financial situation of the country during the year that
has passed, and the estimates of our probable receipts
and expenditure for the year on which we have entered.
1 shall endeavour carefully to coafine myself to this
course, and with the greater degree of readiness, be.
cause the mote I consider: the matter. the more am 1
convinced that whatever of embarrassment now affects,
the country is not likely to endure. In4isef►arging this
duty, I shall. in the filet place. bring before the House
the whole state of our revenue and expenditure for
1828. I shall then proceed to lay before the House
what I calculate will be the income and ex, enditwe
of the country during the year 1829; and I -hall then
take an opportunity of explaining to the House the
manner in which his Majesty's Government has telt it
their duty, in compliance with their pledge to Parlia-
ment daring the last Session. to apply the surplus that
has occurred in discharge of the public debt. In point
of strictness, perhaps the latter part of the subject ought
not to be included is my present undertaking; but it
appears to me so intimately connected with that of our
income and expenditure, that it is preferable to uni•e it
with them, in order that the motion for a Committee
rem., ting the Sinking Fund. which stands fir this
vigil, may be included in the consideration of the
statement I am about to make to the House—(Heat).
It will h recollected by many Hon. Members, that
. when I brought forward the Budget in the moi;th of
July last year I estimated the revenue of the coo, tr,
for that yeat tift2Bl at something near 54,000.0001.
that is. at 53,900.0001.—that at the same time I esti-
mated the expenditine of the year at 50,100,0001. wad
• that I stated to the House the probabti ty that at the
expiration of that year there would appear to be a re-
dundaecy of 3,797.0001. applicable to the reduction of
the public debt. I then took occasion to state to the
House that, is making those calculations, I had endea-
voured te keep within the bounds of probability, and
not to form as exaggerated expectation. The result
Wowed. that there was so necessity for that caution ;
for, when d Wend receipts of the revenue of the re,r
18211•411 be taken, sad compared with the espeadis

tore, they will be found much more advantage ous than
I had originally contemplated ; a result which einem
fail to prove highly satisfactory to the country. 1 bad
calculated upon'a revenue of 54,000,0001. and it tamed
out to be 55.1870001. ; and, On the Other fiend, I an-
ticipated an expenditute of 50.100,0001. bur it amounted
only to 49356,0001. The result is, therefore, that, at
the expiration of the year 1828, we had a stupid. be-
yond what I had rrcknnei upon of 2,052,0001. which,
added to the surplus I t,ad anticipated, made a gross
surplus of 5,8500001. applicable to the purposes of the
sinkir►g fund. An examination • f the causes or sources
of this income w►ll. I think, be not less satisfactory to
the House than the fac of the increase itself; for it ap
pears that, with the exception of about 150 0001 they
occurred in the two grrat bran-hes of our reroute, the
customs and the excise. T..e House sill recollect that
I had estimated the customs for that year (1828) at
17,600 0001. They sili be found to have amounted
only to 17,200.0001. but the H use must not consider
from that apparent decrease that an actual diminution
did occur. The contrary is the fact. That apparent
decrease arose out of an arrangement agreed to he car-
ried into effect in the last Session of Parliament, by which
the tea duties in Ireland, which were previously paid
into the excise, should be transferred to the customs of
England. A diminutito consequently occurred in one
branch. which went to smell the other. 1 had estima•ed''
also the decrease of excise at 800.0001. of which 600,0001.
was by the transfer if the duties on tea; and on the
other hind I had estimated the countervailing increase
of the customs at 600,0001. whereas, in point of fact,
it exceeds 7000001. With respect to the excise, which
I had estimated at 19200.0001. 1 find that it reached

20,759,0001. but {sum which is to be deducted the sum
I have already mentioned as the amount of the Irish
tea duties; the net sum received will then be found to
be 20.250,0001 giving an excess above that I had
reckoned on of about 1,000,0001. That income has
more or lees arisen on all articles of consumption, but
the great body of it on those of malt and spirits, and
on malt in a proportion very lir beyond that which I
had estimated. in the year IS2B I calculated upon an
increase of 600,0001 but I was carpi i,ed at the end of
the year to find that the increase which had taken place
within that year amounted to 1.3(X),0001. This fact
speaks in the strongest terms the increased comforts of
the country, as the revenue (rum this department is only
capahle of being raised by general consumption,
Moreover, although there was a considerable increase
on spirits, yet the increase alio'. malt was far greater,
an observation at which I am sure the House will feel
satisfaction, because the cticlmstance must be viewed
(such is my own full conviction) as growing out of a
great improvement in the habits ot the people. I come
now, Sir, to the other point of difference in the estimates
I had the honour last year to submit to the House,
namely, in the article of expeaditure. Th.e suns ex
pended last year was 767,0001. less than that of the year
piecedia.t. I will not pretend to say that the difference
rose entisely nut of saving in the expel se. Part of it
was o. casioned by the post ponement of tee tain payments;
that • f our naval force in the Mediterranean, for ex-
ample, which, had they been made within the year,
would naturally be charged, and which must be paid
sooner or later. Part of that sum, I will say, bow.

ever, loose out of the economical administration of,
the funds provided by Parliament, and must be
viewed. therefore, as an actual saving. In making
this statement I claim no merit, for I feel that it is
the duty of every individual holding the situation
I have the honour to fill, to administer the public
money with economy. The full sense of that duty
I entertain. The performance of it was recommended,
indeed enfo►ced, by the commands of Parliament, and
it has been carried into effect as fat as possible, consis-
tent with the public service. I repeat. that I arrogate
not merit to myself, or to his Majesty's Government,
for this statement which I make, merely because it has
been said that, in•tead of economizing, the disposition
of his Majesty's Government was to lavish expenditure,
And consequently to misapply the funds entrusted to,
them by Parliament. To this statement. therefore. 1
invite the attention of those who entertain ►uch opinions
of, or who attribute such a disposition to, his Majesty's
Government, convinced as I am that the mode in which
the public funds are applied will beat the severest sera-
tiny. Sir, I can sincerely state, and what is more, if
necessary, prove, that the principle which led to this
part of the reduction of our expenditure has been ex-
tended to every possible point, and particularly to the
expense of the collection of the revenue. In following
up that principle the patronage of Government has been
necessarily circum.cribed, and in a degree which may
equally surprise and satisfy the licuse—in those supe-
rior offices.Consinissionerships, to an extent which those
who recommended reduct ion could not have anticipated.
There are now either actually reduced, or in the course
of reduction, no le-s than eighteen Commissioners of
different Boards—(Hear)—the salaries of whom were
considerable. and the discontinuance of which must
have its effect in reducing the estitnate-. The result
then of this exposition of ti e Revenue and Expenditure
of 1828 is to show in the House that there has been a
larger sum applic able to the :edited .n of the public debt,
within the year 1828 than had been available for that pur-
pose during any year some 1822—a surplus arising huml
the revenue of the country ; for, in order to make the
ealculationjust. we must strike out of the int rease those
sums received from the bank on account of that which
was known as the dead weight and the money (not a
small sum) received on account of the Austti.ii loan.—
repeat, then, that, if examined, it mill be found that
there war during last ye.r an actual boats Ede 'topless
greater than that of any yea► since 1822. 1 say, there-
foie, that if we take into view the fi 'attend slate of the
country during the year just ended, it cannot fail to
prove satisfactory—satisfactory as not only fulfilling
the recomisendation of the Finance Committee, but sa-
tisfactory also (looking into the details) of the general
improved prosperity of the country during that year.
If it be considered with reference to our foreign trade'
and exports, it will be found to exceed that of the pre-
ceding year, and it will not only give satisfaction as to
what took place in the time past, but acme well foundedl
hopes of the future. It appears, Sir, that, in the exports,
of the country during the year 1828, tin one article ex-1
cepted, has there been a seroible dimintui••n; and when
I speak of that as satisfactory, it is became I had to com-
pate the custom duties of 1828 wi.h those of 1829, a year
which, compared with all the preceditig years, was not
merely of unusually large, but of extravagant importa-
tion. And yet, 1 repeat, in no r tie ait;cle of our
exports was there last year a sensible diminution.—
The export of linen in 1823 exceeded by nine million
yards that of 1827, which had amounted to forty-five
million yards, or nearly one-fifth. On wtonlens. hard-
ware, and other articles—indeed on almost every other
article, cottons only excepted—there was no diminution,
and this comparison, the House will bear in mind, is
with a year of extravagant expontation. In these facts,
also, we find evidence of the improved state of the cotto-
ny, which, added to the evidence I. have adduced from
the Customs, and the consequem extension of our con,
met ce. furnishes in my mind ample von d fit co. gi a-

tulating this House and the country. 'I come now, Sr,
to vie* ahe.aituation. or rather what is to be the situa-
tion of the country in the present year of 1829, and in
dealing-with estimates instead of fact-. I trust 1 shall
Satisfy the House with regard to the correctness of my
anticipations. Having examined them with attention.
and in every point of view, I am prepared t.i offer my
statement to the House as one not merely satisfacteey.
AS excreding.the honorable E.timates for 1828, but as
one which, if compared with the actual receipts of IS2B
its-If, would be satisfactory. 1 will net say that there
will net be a yea redircom in the Revenue; it is
impossible not t.• expect it. But, in the situation in
which we are placed. or in any situation 01 the
country, we mug look for alternations of prapetity
Arid stagnation in trade. Blessings a.e not showered on
individuals or on nations without corresponding inflic-
tions. With-nations as with men, pride and arrogance
arising out of success, would la possess them merely,"
but for those wholesome checks— he offspring of at.

versity. We are, and have been, blessed with prospe-
rity beyond any other nation in the world ; and, these
f .va, we ought not to despond or to complain at thr
temporary pressure of adversity—(Hear. hear). The
reduction of our income within the present year, that
to which I have just adverted, is a nec-ssary part of
that system, and of those me‘sures of which the House
recommended the enforcement last year—by the ab-
straction of the .som which for a few years previously
had been received on account of naval and militai y

pensions. and by which a diminution of nee, ly
2.000,0001. Or exactly 1,900,0000 would occur in
the receipts for the year—(Hear, hear, heir). This
is not, however, a point on which it is necessary to
dwell ; it was anticipated, and the transaction to
which it is peaty owing was recommended by a
Committee of this House. Sir, with respect to
what may be strictly mewed the revenue of the
year, we must also be prepared for a corresponding
reduction. But, if we were to estimate the probable
reduced amount for the year by that deficiency which
appeared in the accounts of the revenue for the quarter
ending oo the sth of April last, we should make an
oves-rated and exaggerated calculation of diminution.
It appears from those retrains that the reduction of the
revenue for that quarter, as compared with the !Off f'S
ponding gorier • f 1828, amounted to about 513.0001.
of which 2800001. arose on the customs, and the re-
mainder upon the excise. Now, it happens that that
diminution is capable of explanation and of proof—
that patt of it only arose out of a diminution if the
revenue—and that a ',onion of it was only a postpone.
meet of payments that will be made in subsequent
quarters. Honourable Members know very well that
the min revenue is collected and the returns made
at intervals cf six weeks, and that it will occur in certain
years that the Quitters will not he completed with the
termination of one of those pet josh; and such was the
case in the Quarter just 7,nded. Moreover, our Excise
collection having been postponed for a certain period,
in consequence of retaining to the Mondays as the days
in which to commence, there was consequently a week's
revenue less contained in the Qualm ending the sth of
April, 1829, than in the corresponding Quarter of 1828.
I have had accounts of the sums which would have been
paid had the rounds taken place on the same day as in
the preceding year, and they amount to no less than
205,0001 reducing, thereto,., the declared deficiency to
little more than 300,0001. With respect to the Customs
also, owing to the bills from the outports being of
shorter dates than formerly, they did not come within
the Quarter. The amount of the sum that on that ac-
count ought to have been added is 85,0001 making a
still further reduction of the deficiency, the whole of
which would therefore be little. more than 200,000k—
An explanation which, being founded on incontrover-
tible tact., I am sure will give satisfaction to the House.
Bw, notwithstanding my anxiety to remove from the
mind of the Bans any exaggerated apprehension of a
deficiency in that quarter, 1 cannot conceal horn them
that I Anticipate a reduction of 225 0001. in the Customs.
I do not think I should be justified in stating it at a
higher amount, as I have reason to think that that
amount will cover the reductir.n. In the department
of the Excise I expect a greater reduction than that
i of last year. Indeed it is impossible after a deficient bar-
vest, that so large a quantity of malt should he made
1 this year as in the lest. I think it necessary to add,that up
r to the present moment there is no deficiency worth notice,
. when it is remembered that the amount of the malt

duty falls in the late quarters of the year, namely, Otto
her and Februa, y. The falling off in this point may be
exp-cted to make a considerable diminution. Ido not
look for any decrease in the amount of the smaller ar-
ticle, of consumption. Generally I have estimated the
decrease on the excise at 6000001. The amount of the
customs and excise together I calculate at 37,150,0001.
Making these allowances for the diminution of the re-
venue, to the amount of 800.0c.01. I am happy to be
able to state that no greater dec: ease is likely to emir
in the oth. r branches of the revenue. The duty on
stamps is in sh.w but certain progress. The taxes are'
not diminishing, and the revenue accruing from the
poshotfice is quite equal to that of last year. In calcu.
taring this estimate of the receipts . f the coming year I
couceive I do not fall short of my anticipations of last
ye Ir. The general result, therefore, of what I have
:toed is, that the united amount of the customs and the,
excise for the next year will amount to 37,150,0001..
This statement I make on two grounda—first, on a com-1
parison with the receipts of the last year; and secondly,
with the average amount of the revenue of the last is
years. Three of these w ere years of large rec, ipt, and the'
three latter of small revenue. namely. a reference to the
receipts of the last year, and to the average receipt;ot
the last six years. These data, taken together, have
enabled me to make the estimate abich I have just
stated. The revenue arising from stamps 1 estimate will
amount t 07,100,0001. the taxes (taking them at the sum
of last years to 4,850,0001. the post-office to 1,950,2001.
The total amount of the revenue was 50,870,0001. about
the usual sum. To this were to be added 60,0001. from
the East India Company; 255,0001. impressed money.
Among the extraordinary resources of revenue was the
repayment of 100,0001. to; the silver coin which we had
issued to I eland. It was, however, to be remarked, that
this debt being once paid, the same source of revenue
could not be expected to exist for future years. Then,
there is ti.e price of the city canal, an item to be added
to the consolidated food; 70,0001. proceeds from the
fund of an office in the Court of Exchequer in ',eland;
added to these 55,4001.-311 making one collective sum
of the revenue It r this year of 51 347,00 1. Having
stated to the House the probable amount of revenue.
I shall now proceed to the expenditure cf this year.—
First, then, there is the charge on the debt of
47055,0801. the interest on Exchequer bills 8600001.
funded 555,0001. bank annuities ch irgesl on the con
solidated fund, 4100,0001. making the whole amount
of the fixed permanent uebt, over which the Parlia-
ment bad no comma'. $0,688,7401. inc nex. point
is the amount of the grant, %Inch se have made
fir the year. For the army, iirclioling the mil Om,
we have voted 7 769.1781 being less by 300 0001.
than that of last yeas ; for the Navy 5.878,0001.

s
is 500.0001. less Ant the arnount of la,t , Pat. • ~
dims; for the Urdoence 1 738 tRIOI. being an web% (4
170,0001. over that of last year. thnueh not arisiny
any enlargement of the establishment ; 1 r the
lemons m.tter52.067.9731. being less by 100.0001.th‘i
the amount of lwt year. The total of u e Army and
Navy is 17 440,000/. that of last year having ben
17,776 00(11. We have thus saving nn the year
3 6 0001. and when it is rem• isheied that this %soft,
ha. been made without impairing the Ai kitty of nay
est .bli‘hmes,t, and solely by all adherence to 'colloquies/
arrangements. 1 am sue that the Howe will see that
et*. y rift), t has been made by the Government to tee.
down the expenditure for the service of the country -re
a scale comi•tent with the returns of the revenue. U
the House will take the double to compete theespesda.
:tire of this year with the gia ,ts of 1817, they will 6ed
that the Estimates ate dieniaisnd by 1,500,0001.80 t to,
sides these ordinary grants we have to provide fool,
hundred thousand pounds for the unforeseen ezpesio
resulting from the obligations of the treaty by "hid.,
were bound to pay the claim of Spanish subjects in cow
sideration of the still larger claims of British anhians
on the Court of Spain. Then taking the vette. 01 the
year at 48,533,5931. and the income at 51447 .0001.. this
will leave at the end of the year a surplus of 403 cm
applicable to the reduction of the National Deb,. I so
aware that it is espected as a mere smatter ottooro mat
a person in my situation should calculate on a swylte
..t at least three millions towards the eatinction t f as
Debt. But 1 contend that the resources of thecountty aye
stitSeient to produce that amount, and that if Parham*
I will firmly adhere to the recommendation of the Cleo
trainee ta keeping up a reasonable amount of tastier,
they will be able to supply such a surplus. We have had
such a surplus this year, and I see o° season why we May
not look for it in future years, or why, if we only awed
to our expenditure, we may ant realise similar expects.
tioas every year. I alb aware that some Gentlemen
will object, that out of this sum of surplns..—eiody.
3.150.0001. we have to pay the amount of the aanuitio
hitherto charged on the consolidated fund ; and that die
apnoea's tend to diminish the amount of our wed
urplus. Bat I say in answer to this, that thee:oaken
of Finance contemplated the annual surplus as a fed
to be applied to the payment of annuities. However,'
will allow that it is but just, as is provided in a Billow
before the House, that the annuities should not he
charged on the surplus revenue, but, like any other ins
of expenditute, on the consolidated fund; and it is to le
expected those who shall hereafter have the miteags•
meet of the revenue will add that item to the debt
lel the year, and release the surplus fund from it. Them
is another point to which I should recommend the pt.
son who may hereafter manage the financial Of 4iti 4
the country to amid. namely, the distinction bowie'
the temporary and the permanent annuities. If ths
HOuse will allow me I shall present it to them in the
shape to which I allude. After 644,0001. are deducted
three millions will remain to be applied to the anis.
don of the permanent debt. The English annuities
amount to 24,240,5481 the bids to 1.340,5481. r.
these the Sinking Fund is applicable. Lore anaskin
'is million three hundred thousand pounds; bank Ire

hundred and eighty-Eve thousand pounds ; life gala.
time instituted by the 48th of the late King. 151,001.
Waterloo seven thousand pounds—making a total sf
11.611,0841.; as amount of debt, which, after the Billet
the table shall bay, come into operation, will begiste
work out its own eitinction. And bere I request the/lets
to forget that part oftbe increase of the espenditurewbid
arises-from incorrect payments made to annuitants cods
sinking fund. Now. in extinguishing tie personage
tuitional debt, it would be unfair if we did not takeino
account the expenses of the temporary debt, our nitro
in reducing the permanent debt to a temporary best
to obtain a clear surplus fund. This accounU for th
sum of 645,3001. deducted from the surplus to coolie
balance the expenses of the temporary annuities. he
may be asked the grounds of this. Sir, there is a Oil
on the table providing for the conversion of the per-
manent debt into temporary. It the Bill should pa%
and the measure should be found to answer, weirs, be
released from the necessity of providing a sinking
fund of 5,000,0001. 1 am anxious to point out is
the House that this sort of conversion of annuity isms
temper try debt contains in itself the principle of igen.
sinking fund. So much for the mode—a subject deept '
to be considered, of reducing annually the amount if
the debt. Though I feel considerable satisfactioe
contemplating the probability of being able to MB
the expet.tation of the Committee in providing agrees
applicable to the reduction of the debt, my satilfasion
would be unmixed if I could predict a larger surplesfer
the coming year. To whatever it may amount it is tle
duty of Parliament to consider whether it should a
should not be applied to the reduction of taxes. As this
last is not a use to which it is not resolved to apply lte
conceive it to be the duty of tbeHoose not to trench on ten
surplus fund, but rather to reserve it to provide pile
any sudden defalcations that may arise from acciikaul
circumstances • not that I apprehend the coming deaf
such events. The next point to whicb.l shall advert'
the mode of carrying icto effect the secommeadatio
of the Committee relative to the application of thew
plus to the extinction of the National Debt every you
And here it must be remembered that the Hoag is
decreed, by a Resolution, that no sums sboold bear
plied to it bat a bona /de surplus. This coaches
another point. It is not enough merely to April tie
surplus to this object, but to establish cestaia !erg°.
tions for an equable application of it. It bas km*
jotted to the system hitherto practised, that the see
applied to the reduction quatterly has been vatisbk
and unequal, varying from one million to one kg
dred thousand pounds. The object of theßill on theism
is to render owe equable the sum applied every VIM
to that purpose. It has been the custom at the Too
sury to make up an account every quarter day el*
expenditure and revenue. Now, my plan would be
that the accounts should be made up for
ceding quarters. and that one-fourth
amount of the four collective quarters
plied to the reduction of the debt;
difference ray still remain between the
each in the several quarters, still, the
would be more equable and more regular,
which lam about to put into the bands;
will merely go to the application of the
reduction of the debt ; but the Bill on
contain the principle, as also the the power,
the surplus in the hands of the CommissionerL
JemptiJn of the unfunded debt. And this levied& ler
of a resolution 1 have to polio's. namely, for the lel
bon of the unfunded debt by funding Exchequer
the ter ms of which are, that every party who ,ball to;
scribe 1001. shall receive 1011. 10.. payable ie
The object of this being to unite this fund to _
treated in 1824. It may be nbj cred that this will~'
Fescue as arta ; but the addition will be but tialls
- clef
the preolum being but thirty
1001. By the la t adjustment
cents. was given to the party
In the pr •sent c se toll. 10.. on
ni.iy be a ked, *by adopt any urea,)

a
hi
111

si
I

Dr the three
of the
s should be
and thos',
he amounts
relative a
It. The t
of the Chair
be surplus •
In the table
owe'', of a
lianas to ohs w

7 paUlu --- el
10.. payable is 1110
lite this fund to OA tl
j cted that this Willi'
it will be bot wit* si
y shilliuys for ewlf
Il,il. in Ilse toe' fge
subbctibing 100 L
it given. Bjt .
Dram e relative to d