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

three millions. payable in 1833. I do not wish to carry
the NM to a higher amount, as I am ai _volts not to ir,ffcr
any derangement on the commercial interests of the
country. It now only temarn, ft., me, having brought
before the House the revenue and the expenditure of the
country—the mode of dealing with the natbnal debt
and the estimates of the present year—to recapitulate
the sources of supply, and ways and means to meet the
rising demands on us. Tr,e amount of Parliamentary
grants is altogether 17,644,8531. Interest on Exchequer
Stlls, 760,0001. Total, 1,844,8971 for which it is neces-
sary to make provision. Of the ways and means,
3.000.0001.—p00r bills, 123,9001. East India Company,
60,0001. surplus grants, 506.2121—general revenue,
14,714,0001 making a total for this year, 18,333,0001
In closing these observations, I have only to add, I leave
the House to draw their own conclusions from them, and
that, whatever may be the temporary difficulties 01 the
country, I see nothing of a discouraging nature in the
direct te.ources of the country, or in the mode of calling
them into operation, and I am sure that when the pre-
sent cloud which throws a gloom (I am sore but a tem-
peruy one) over our financial affairs shall have passed
away, this country will rise to a height of wealth, pros-
perity, and happiness, not to be equalled in any king
dom of Europe—aye, of the world. The Right Hun.
Gentleman recnmmenjed forbearance on the part tithe
House, in order to allow the country to recover from
its present difficulties—a recovery which, be said, could
only be prevented by undue'piecipitancy.and concluded
by moving—" That tdwards tusking good the supply
which had been vs ted, the suns of 5063121.2..81d. the
surplus of the supply of ways and means of the years
1823, 1824, 182.5, 1826. 1827, and 1828, should be
applied to the surplus of the present year."
The question having been pot.
Mr. HUME said, before he should proceed to the
consideration of the question, he thought it a duty which
be owed to the Right Honourable Gentleman to state
that what had been laid before the Hue bad been clear
and distinct, which had n"t always been the case under
similar circumstances. He thought this a matter of
much importance ; but he confessed he had yet to learn
the grounds on which the Right Hon. Gentleman bad
stated to the House that the country enjoyed such trans-
cuidant prosperity. He knew not on what information
the Right Honourable Gentleman bad made such a
statement. He did not think there was any one branch
of the commerce of the country on which the Right
Hon. Gentleman had a right to congratulate them.—
The Right Honourable Gentleman bad acknowledged
the general stagnation of trade which at present
existed, the causes of which, he said, he did not feel it
his duty to enter into. If the Minister of the Crown did
not feel it his duty to examine the causes of the stagna-
tion nf trade, he (Mr. Hume) would ask the House,
whether it was fit that the resolution moved by the
Right Hon. Gentleman should be adopted without in-
•quiring into those causes on the part of the House?—
Some Right Hon. Gentlemen imputed this stagnation
to the state of the currency. some to over trade, and
some to over production. He (Mr. Home) would ask,
if it was caused by the currency, and, what the Right
Honourable Gentlemen bad not alluded to, the heavy
taxation under which the country laboured, was it
not the duty of the Government to take steps for
the reduction of the present tremendous taxation?
If they were determined to continue the present rate
of taxes, ought they not at least to inquire into the causes
of the stagnation of trade? He contended that the situ-
ation of the country called upon the Government to re-
duce the taxes, if they were the cause of the present dis-
tress. For his on n part, be thought it not owing solely to
any of the causes which had been alluded to, but to a
portion of each, that the country was in its present state.
They were bound to make up their minds to the causes
of distress, and whatever it was. it should not be con-
tinued. It could not be denied that at present capital
a as less productive, and individuals could realize less by
speculations than at almost any period heretofore. If
there was any merchant or manufacturer at present in
the House, he would ask was there any of them whose
capital returned an interest when vested in trade equal
to the common interest of the stocks? As to the landed
proprietors their time was not yet come ; but he had no
doubt it was coming, for it was impossible that the
prices of agricultural productions could keep up if the
present system of reckless expenditure was pursued.
He wished to reduce that expenditure by reducing the
taxes. There was scarcely a necessary article of life,
whether of clothing or food, which was not met by
taxation. He thought much of this might be relieved.
He considered it was one of the greatest evils of this
country that the taxes were still kept up as they had
been for the last seventeen years. He held in his hand
an account of the amount of taxes since the year
1817. In the year 1817, 1818, and 1819. the 'ee-
-1 wage revenue of the three yews had been 51.702,0001.
Whatever was the state of the currency at that period,

be would ask the merchants of the country whether they
. would have been then disposed to receive 3/1, or even
6 per cent. for their capital? In the year 1819 there
Dad been an alterative in the cnrreacy, and in the nest
there years.lB2o, 1821, and 1822, the average of the
annual revenue had b, en 54,173,0001. In the years 1823.',,
1824, and 1825, it bad been 52,400 0001. and in the
years 1826, 1827, and 1828, the average of the revenue
was 51,000.0001. which was equal to 1817, 1818. and
. 1819. He *ould put it to the House, whether it was
fa►r for the Right Ham. Gentleman, under these circum-
stances, to congtatulate tr.e country on the state of pros-
perity *lnch existed, or to call the stagnation of trade,
which caused such di.tress as it did cans..., nothing more
than a passing cli u.i ? Ti e Right Hon. Gent. had ',tie
that the inctease 4.f cap Its was an evidence of internal
DI. sperity ; hut- did he look to Ma. chest I. to Maccles
yield, and to P Abley, and would he state that the country
was in a state of piespetity ? ur was it not a manifest
. , mill, to the manufacturing class to say that the stag-
. t .ti,as of traJe was but a passing cloud ? tht. nigh
1114,noutah:e Gentleman had Mated as niie L .ikit.i.ce of
the 1 tuspe: ity of the country, Inc tactea.ed reventit