The Statesman.
London, England, 1819-06-08 00:00:00

CUSTI)3I3.

'Excisg.

1,4.11.000
N%l.lhe
flOU.slors
l30.0(0
MAO
. fiss,Mhr
'fatal . . ,C3.190,CC0
Ile should not enlarge upon the vall.ri st the preseei
moment. lie considered it a duty indispensibly de.
Totting epos them to make provision for the dim.
charge of that obligation which was doe to the pub.
lic creditor, and necessary to pronto,* the chaiscter
and inlet's sty of the country. Hering now. after she
most minute and ansious investigation of the Coro-
sitters that had been appointed, proposed • plan to
restate the currency of the country, it became en ism.
Motive defy that same permanent system of finance
should be minted °pont sod now, since she Army of
Occupation had ;vistaed from the Continent. and thn
redaction of the misty hail taken tlllre, -"hick he be.
heard bad been rederod e. low es it possibly coots"
be, Isis Majesty's Ministers had been es.aided, at
length, to farm an estimate; not but that many ea.
pence, mast he ultimately, although net immrdiatelr
incurred, as something would be n.ce.sary to be
done mpecting the Militia. Ile I.••ught the adeitiott
of three millions of lazes would ice sdScient in eas-
ther th.to to preceesi. It mast be ob.ervvil. that that
present Loan could not be considered to b. *tinily
an sr.rrease of debt. becallsr five mitiion; Mould be
paid to the Birk. mud fits. millions mould be received
in Fecherpur Bill., so that there unsold be en'y ars
increase of debt of three milliinr. The,. as 13 mi-
ttens and • half of the Sinking Fond would be •• rid
for the plebe ureic,. there is ould hs. a surplus e( t we
millions remaining, which, added to the Iltr• • mil.
lions of lase., would corollate the five millions to
foto the Sinking Fond. A point worthy of remark.
was, that a pest part of the tiptoe's atteodieg
loans would be saved in the present instance. Ate
alarm bad been elicited, that he con.equientw of
the measures moistly adopted much stagnation
would be esperienred he collecting the revenue.—
it was true that there appeared In bee diminution in
the quarter ending the 4th of Jiro*. of 107.(XXA.
slicing principally from stamps, and from the Posts
Ace. which was 'boat two per cent. on memos lee
ceised ; this, boomer, might be in same measure ay.
counted for ; b in the year radio( Jane 4.
ISIS, en additional week had bee* taken into the
t, which world of coots* operate against the
comparative amounts of the two year,. Having thus
stood impetfecily to the Boss. the plan he had to
propose, he could not sit doom without mouthing
that if the Male should agree to the Rise-
, lotions he had submitted. a great reopensibiii-
ty would devolve upon hie &Neely's Ministers
: to ob ee he most mica appropriation of
' the money granted; and In case of the concur.
unmet of the House, he should propose a Resoletiom
Ito that effect. Much had been said respecting the
minces incurred in collecting the iteminee; the
1 Segelon, however, had too far advanced to Pipet
that any effective investigation meld isko 14ase; be
Iconsidered, antler', that a Resolution noe!el be
desirable to instruct his Majesty's Ministers to eve
, their utmost vigilance in elataiaing into the mode ha
i which the Revenue was collected, with the view ot
1 making such redectleu as the public service would
; permit.
The CHAIRMAN then road the brat Reseledee.

Malt .
Ntitith Ilphilo .
Tamers
t wirer sad Cam.
Tea
Pent. r .

Mr. TIERNEY rose.—lle slid he lhought it was
impossihle for any person on bate draked a better
expedient that that contained io she noselotion pro-
pnsiml by the Right Honourabie Gentleman ; it was,
however, esrious enough that the Right Hueourable
Gentles.. should come to the Hoe., saying. " inn
street 55 to be economical, and' we will obey."—
He should not fol: the Right lion. Gamithhohli
through the whole of his statements, and lor this
restos, because with P 'Pry attention he coold not
compreheml what the derlar..iun of the easoent of
taxes in 1815, or the debt of lreleod, had to do with
ti,• business. His opposition was por to the obolsoct
proposition of laying on thee* ueilloes of rain; nor
should he ergo' it was not n se bare roomorato
to 'station, bat We objected to . . wt •Illeh
was torstegln forward. The ,bid imellkeeth Ilesole•
'lons "rem manors of feet, as uYL tie probable
asorist of the Ilinkirart Fund was abort Sheen mil-
throw that thirteen retilloos and • hell woad be
levell:ble for the pablie service, besides two mentions

lortsluo. This he believed to be corset!, he should
therefrtre pa., on to the swat, first thanking his
Al•. ly's Minion's for having at length se-
a:nadir attended to the goats of the country,..-
It was troy the Sinking Feud had undergone serious
chsngrt sine. it. first •ppropeietion in 1786. in 1792.
and in 1506, het now It was attempted to persuade
the country to 'artifice two.thirds of this notional
security, wishes, tieing any thing elm in its place.
Indeed, the Chancellor of the Eschequir had, when
in 181.1 he proposed lowerlig the rate of interest an
(investment securities, mentineed nothing but the
probability of the dilficelty persons of property
would feel in beteg able to get any thing in resets
for their capital ; there would, of mast., as he
thought, be so great an infisa of money into the
market. list now, after 6,000,7001. had been in
one instance, dosing Lord Sidineuth's Administration,
lopped off this Sinking Fend, only with a view hi
prevent the necessity of fresh lases for that year, the'
Right linnnerablis Gentleman thought himself en-
titled to tern round bet the House and the corn.
try, and say there was an end of all this sort of
thing, or of imagining that the Sinking Fend
could continue to he applicable in its original seater
The psittelule on which the Sinking Food had been
constrectod had originally been such, that, it was
then contended, its forly-ive years it would redeem,
or in other words annihilate any debt the native
might cowrie', let its mount be what it might.—
Now it was, however, to fence its steps back for
a long patriot) of year*, and alert again at a capital of
only five millions applicable to this operation of
finance, directly in the troth attn. Resolutions ore.
posed by the Chancellor of the Exchequer in 1813,
and this, too, after five's.'" of peace, which nasals
consideruble a portion of any peace Ministers timid
from 'ardency possibly calculate on. in the present
poster* of foreign affairs. He (Mr. Tierney) consi-
dered it was really ton bad, not only to pronounce
new tau" to be necessary, but likewise to treat. a
laugh at the public 'apace, as the Right lion. Gem.
llems• bad done when he had told those that 'Sinking
Fund, thee created, of 6,000,0001. would answer
all she purposes eapectrri, and effect the reduction of
• National Debt, s•oles to the amount of eight
hundred 'pillions. lie would not say he was
dispoesd to blame him for that pert of the Span-
clot Panject of the year, which thus epplisd the
Sinking Fond; boo with grief end pain he observed,
that although, these sacrifices had become neoessery,
still Mininislration toistineed capering and prancing
spun their 'accesses soil the flourishing state of the
na inn, as if Birthing iihstrict bad happened. Wet
it to this their boasted sonority for the fetes and in.
demnity for Ike past was now seduced, after five years
of prate? Whet, were his Majesty's subjects to be
lig tin galled with an assurance, that if they submitted
to sea a retrenchment of eke 'Sinking Fund, and the
enactment of these million* more lases annually all
would be right again ? What would become of the
beildteds of millions which had been granted for the
same pupas' and ender the same mutant,' ? Ile
could not see why the Right lion. Gentleman should
demand as an additional merit, fur the stock.holder
three millions, which was, in fact, more than half the
Sinking Fund itself. As to the neetwesty,of 'seedy
5,000.0001. of the Sinking Fend, whether that sem
was enough to pr t pines! I
effect meterially the reduction of the debt in future,
he should not give en opinino, but he felt it a duty
he owed to the cannery to protest against the sop.'
p 'rd Necessity of imposing sew isles to the
amount of 3,000,0001. ennuelly. The strongest
reason wins' increased tuition originated hi
the Batik Report, for which the Right Honour.
able Gentleman silmitiod he had an long waited,
alt authority for this measure. The recta stated by
the Report, and the alteration resolved on as to car.
rend, made it aboard to talk of lactated gestation,
when that very situation of the currency was in it.
self • tat. The remedy for our dual/don had, as 40
accompaniment, a degree of pain, which must become
irritating its the utmost, it tsars were imposed *MA
the reduction of nominal wales in the circulation di&
qualified the People to meet. It bud become mem.
airy to lower oar 'timidity's/ to the 100011110 we pos.,
bowl. 'rho greatest svegetetion in the esernsatile
world, the agricultural part of society lewdly
plained of Ose increase of pauperism ; and what was I
the answer to all this? Gies his Majesty's Ministers
three oldiess more caw tales. %Yin'd men be dis-
posed to bear the taunts of the Chancellor of the Es.
chrquer, whilst, wittiest bring able to earn their
bleed, he dared, as the Right Hon. Gent. now did,
to tell them, they were not lased enough, that be
had sillily parted with 18,tre0.0001. worth of tales,
bet was determined to repair his error as sane as pos-
sible by laying on tests to the moment cf one-third
of these which he bad this allowed to be repelled,
and his with disavowed intention of placing the fine"-
cial slats of the country ea a permanent inundation ?
All these sacrifices the House was told were necessary
to wore the stockholder, who was thus subjected to
the odium of the transaction Ile, for his part, would
either hase but a security at 2.000,0001. Sinking Fund
tha05,000,0001. on such degrading terms, since so greet
en inroad was intended to hems& on the Sinking Feud.
The grand malice ball been forced span the coon..
try by Ingestions f h
•. po_lic safety; so far he
should net find fault with the intended arrangement.
Bet whilst the Chancellor of the Eschequer talked
first of the Sinking Fund, and secondly of the lases
necessary, he should place in the first rank tbet
source of teeenue which consisted in economy and
retrenchment, a brad upon which the Right Hoe.
Gentlemen bad not attempted to airtime, for the
best reasons. The Minister had no right to 'spec'
a single new tar until it hail been proved every thing
in the way of economy had been died as to emcee
and places of ensolomenr. He :adieved a million •
)asr might be s tel on ibis hoad.—[lieer, keer!)l
—Thu Noble Lord bad asiii, this should be the last
sear of the tabours of Connelttent of Finance. Had
this Committee dr !le any shing as advantageous, or in,
the lewd resembling *hat had been done by a similar
Committee doting the Chairmanship of Lord Col.
ringer ? -.Every thing was handed them from filial.
suns Of political I/OMM ; het no economical sups-
tine appeared math sallieredection of soy high official
siteadons, tech as the redaction of the twat Junior
Lards of Ike Admiralty. In i.self it was nethieg;
bet its principle 'right has" been invaluable; its pre-
re.:eut most salutary. The estimate of the Army
Mrs oro:cous': too great fit this Cidintryj but It