The Statesman.
London, England, 1823-02-22 00:00:00

its duties and its responsibilities. He asked, however,
•e undivided attention of the Committee, while be
'toted detain them with his observations on the vast and '
am eons interests of the country. He felt more desir-
•us to claim their attention, because he was addressing
hens under circurnsumc,s of an embarrassing contrast,
;Athos& whose acute mind and long eiperienee, whose
many virtuea and unsullied integ ri ty, gained him for many
!years thexespect and esteem of that house. He could
not, however. but feel confidence, when he recollected
thous el occasions, few as they. were, on which be ad-
drossed that house, he had experienced their indnlgenee
ant cheering encouregement many years.—(eheers.)
The best return that he could make for their kindness
wonld be to make his statement as brief and intelligible
at be could Brevity was always us• ful, and every state-
ment oft questions of Finance, Revenue, and Expendi-
tom Should, above all, be particularly clear and et-
. plicit. He should, at all event', avoid intentional oh-
tmttilty. If. indeed, he were so wicked alio attempt to
cloud his subject by fallacious reasoning or false calcula-
this% he would 4v little better than a teedman. Many
mete then in that house, who were able to detect him if
be esieavoured to involve his statements in any obscu-
ettx,so that in all casts it was his wish, as it was his
interest and his duty, to make himself clear. Having
- Stu! so much, be would proceed to detail his plan.—
litit be proposed to state the actual Revenue of last
year. then the expenditure for the same period, with the
. surplus arising from the excess of the one ab6ve the
other ; and, lastly, to explain the estimates of both, and
application of the surplus for the present year. The
• fiist strement (that of the revenue of last year, the ex-
prlditure, and the surplus) was already in a paper be.
fore the house, and therefore lie would not have occa-
sion to give any further detail of it, than merely stating
the hares
lase Revenue of last year. then, was . .C 34,364,649
Ard the Expenditure tor last year was . 49,449,130

• Leay. ng a Surplus of . . . 4.915,519
He would next come to the calculation of the Revenue,
which might be ex; ecteit to arise in the present year, the
estimated expenditure for the same time, and the proba-
ble aXcees ; and proceed to show the mode in which it
was intended to be appli►d. The estimates he formed of
the income of revenue, after deducting all that might be
expoeted to be lost from the reduction of taxes lost year,
and adding-that which was to be received from the Com-
tn'ssioners of Half-pay and Pensions.
Amnestied to . . . . £57,096,588
(,)f this he would alio iv for the ordinary Re-
semis . . . . . 52,246,988
lr.dependent of the sums received from the
Commissioners of Half-pay and Pen•

&ions . . . . .
The foul Expenditure of the Country he
estimated at . • . . . . 49,852,000
H• made the following calculation of the various branches
of Expenditure:—
The tots' Chargeof the Funded Debt, in-
cluding Interest, Long annuities, and
Management. . .
The Commissioners of Half•pay . .
Other Charges on the Consolidated Fund,
including the Civil List and Pensions .
The total Interest on Exchequer Bills
The Estimates for the Service of the
Army
Estimates for the Navy . .
E,'imn•ee for the Ordnance .
blisecl:dneutis Estimates

..C45,124.756
2,de0,000

2,050,000
1,200 ,000

7,362,000
5,444,000
1,380,11C0
1,491,214

Making a Total of—
Of To`;11 Expenditure, a permanent
Charge was . . • • •
And the Iteuislnder was within nliat was
called fur theSnpplirs of the Year .

49,852.000

33,084,000
16,768,000

The Result, then, of the Total Estimate of
the it.verue was the Snm of . .
From which, if the estimated Expenditure
was deducted . . . • .

57,096,588

49,852,000

A these Surplus of Ream • over Expendi•
. tune was seen of
TLe sett point he had to show, after establishing that
surplus, was bow it should be appropriated. He would
propose thecae major sum of five millions should be op-
...plied towards the means which Parliament had recognis-
ed for the liquidation of the National Debt ; and the re-
matnfug two millions would be appropriated to the re-
. &talon of taxation.—(Cheers.) In which one tenth of
tf•e 311:0Ullt would be taken in the Assessed Taxes, and
le remain ler he wcitild explain as his statement went on.
Having thus far explained the probable ran etaue, expen-
ddtre, and avail .ble surplus for the present year, he
eva-ld prot eed to the separate details, and give the Com•
nittce an explanation of the most material parts.—(Hear,
hear)—The first thing was to call the recollection of the
Louse to a paragraph iu his Majesty's speech from the
throne, %%loch expressed an opinion that the Revenue of
the color ry would exceed the expectation. He thought
that he should be able to show, in the course of his state-
ment, that such an expectation wits fully borne out, and
that tl•o Ministers were justified in putting these words
is his Majesty's mouth. Though the actual surplus of
the Rescues over expenditure did nut actually exceed
last year more than live millions. yet it was material to
c'Paeller what it would have been if certain great financial
ropermiens had not taken place at the close of the year
t o effect i• ; and whirl, did effectually reduce the revenue
without riving a cet• mpuraneous reduction of expendi-
tare. The Committee would recollect in the early part
of the year 11322. that from the estimates laid on the
table, a clear surplus of 5;285.000f., or thereabouts, wall
calculated to appear over the expenditure of the eountry.
Toot excess was founded on the supposition that the
rate of taxation should be continued as in the preced-
ing year. The holm would recollect that not long
a:ter a Noble Lord (Londonderry), to whom he could
suit allude without f eliuys which he should not express
.there, and at that moinegap-(Here the lion. Gen-
tleman seemed much affected then stated to the House,
that it ass the intention of ti•ivernment to propose a me,-
,sure for executing a very important financial man, which
would on the one hand have the effect of ditnieishing
.ex2en,e, and on the other give to Parliament the means
of 'tn king an equal redaction in taxation.—(Hear.) He
alluded to the plan of converting the 5 into 4 per cents,
and which was calculated to admit of a lessening
.of the
Lurdens to theextent of 1,400,0001. At the s•tue time to
gain a reduction of interest to an equal balance. It re-
wilted, however, front that plan, that on the one hand a
rtsluetion of taxation was made before the corresponding
'eduction of interest aas effected on the other. For in-
stance, the reduction of the Malt Tax took place on the
b•th April, Itti22, and the interest on the 5 per cents was
paid up to the sth July last, so that, in point of fact,
until the present y ar, there was no saving wade by the
dirnimitio.l of interetc—(Hear) The diminution on the
. Malt Tax alone was 1.500,00111.. and there was now simi-
lar rases, a diminutiiiii in other brunettes, affecting the
total amotoit of the revenue very considerably. The re-
. ;evil. in ail these branch.s was no less in the total than
AU,Othjl. From !hens ebe inferred, that if no reduction
ot tsxatiuri hail taken place, the total surplus, instead of
five million.. would hale been six mtllioes and one half.
• The passage iu his Majesty's Speech to Pariament was,
therefore, fully borne out by the facts. in allusion to
. that seduction of taxation lie (the Chancellor) did not
trial. it to be supposed that he stated it with any regret—
...! tattroett it, as. he coneeiv-d that the reduction ot taxes
was die to the'rountry whenever it could be safely e.feet-
gii. And he concurred in the propriety of Weeding it