The Statesman.
London, England, 1819-06-10 00:00:00

20.178.0001—T0 meet this cbarr, the liner
bml anted the annual taxes on Sager and To-
bacco, together with the temporary Erni., Doi4r.
—lle should anon also in the course of Oat
evening fur the continuance of the Lottery, esti-
mated at 240,0001. ; and the application of the pro.
slate of nasal OW/ estimated at 334,0001. The
ro,le roots ainnent of these means he should take at
7,074,0001.; and ender ihne circumstances it was
Ibtioreely seceseary to resort to the eatraertlinery
resource of • Loan to the awned of about 13 mil.
lino. oral a half. The intended resumption of Cash
Popsies-vs made it en unfit period for bearing hard
ens the too. ey market, sad a farther sum would be
required for the reduction of the (intended Debt.—
With these views he had to propose tw• Loans tu the
•'' Sabdilleratinn of the Committee. The first was one
of to be raised by contraet ; and the
otherhOrilarield bring forward es an early day, when
thregruival policy which it involved might be fairly
discerned. Al present he should contest himself with
remedies.; thee in eider to avoid any pressure en
she money market, it was proposed to take the ether
12 millions at 12 secces.ive months, gad to leave to
the Commissioners for the management of the Sink.
log Fund lb. power of making their payments at
the,' periods of the year when they might be made
with the vastest adorns's', to the Pablic. At lb.
quarter ending in April, the periodical payment
would not amount In less than 1,100,0001. A sem
of 31C,000t. would still be applicable monthly to
the reduction of the debt. The whole meant of
supplies lbws raised would be 31,074,0001. leaving •
surplus of 10,97u,0c01. for the diminution of the
Unfunded Debt. 'Of this sum 500,0001. would be
repaid to the individual holders of Eachequer
and five millions daring the present year to the Bank.
lie had-now to state to the Committee the terms on
which the Loan bad been that day contracted for.
The renditions of the Loan were, that for every
1001.-sterling there should be given 801. in the 3 per
cent. Consols, and the bidding having been made in
the hedseed Annuities, 621. IS. &L in that fend.—
Three different parties had riffered to 'damsels this
Loon, sod the terms proposed by them were, by the
nee, 651. 10a., and by the oilier, GM. 2s. W., the
third having and/linkers it et the low rite of
621. 181. Bd. The amount of interest on the new
stock created would be 1,029,12014 and of its at.
Midget Sinking Feed, 402,5911. Ily the pro.
posed arrangement, the provides of the Act r f
1813 would carried into fall effort, end an additional
Sinking Feud proportionate to the amount of new
debt be established. such a provision might, indeed.
be dispensed with in retied's* that part of the debt
which had not been fended. Including, however,
the there* of 10,2911. for management, the total
charge 'geoid he 1.412,0061., being at • rale of in.
tel of 41. ss. Dd. per wet. In the sebterlbers.—
Voce an average calculation of the price of stock at
694, the whole charge to the Public would Dot 111.
used 61 %l. In looking forward to the neat year,
he esleglatesl that a sem of 11,000,0001. world be
revoked for the public wale*, sod 5,000,0001. for
a seeped repayment to the Bank. Supposing that
12,000,0001. should spin be token from the &skies
Fund, • a of fear millioos would be the wand
dint Noll be called for by the probable esigeseiee
of the country. Ile bird now to develop to the Holm
the 'peons by welch be proposed to raise the
3.000.0001. that were necessary for realisibg these
lialliernal views which had been pretioirely submitted
to she consideration of the flees*. Before be (m-
-isted on this 'abject, however, he' wished to state
the amount of the unfunded debt, aid its proportion
to the set, splies already voted. Ass. of 49.000,0001.
had here provided for by As votes of the pre.
sent Session, 44,600,0001. In this part of the
':Wield Empire, aad of 4,440,0001 is Ireland. Es.
chequer Bills to the 'Vent of 20,000,0001. were out.
standirig, in which must be added a vcte of 16.0000001.
end 2,5C0,0001. of Irish Treerery Bills. The whole
of this debt was therefore about 38,500,0001. and
Aspired a redaction of 10,300,0001. Be bad wear
to propose the imposition of snow fresh tames, with
stir view of strengthening ti-u Consolidalad Fend,
and to pay the interest of the Loan of last year. ell
Well es provide for the interest of the present.—The
charge for the last year was 1.600,0001. and for the
'present Would be 1,442.0001. making a total of
3,042,0001. to he rais-d in new tarns. The prin.
ripel branch was a duty on foreign wool, the esti-
mated produce of which, together with the Conan.
Lidded Customs, was 500.0001. The amount would
necessarily fall into the CrseatilidatedlF und. All the
new lazes bad been prepared under the immediate
management and inspection of the Board of Trade.
The ether articles of foliation' to which be had
to roll the attention of the Committee were co-
here.. tea, and pepper The duty now payable on
the Importation of American and plaelatiou to.
bares was ad. and • fraction per lb.; VI:Mk West
Indian, la.; and 2t. open Portuguese awl Speilah.—
eqrsaliasng tee duties ow East Indian and Wag
Indian produce, and with the addition of tire Excise.
tho Police result smell be 4s. on.coloulal, and 6a. en
faro in tobacco. The effect of this regulaties would,
according to his estimate, be, to produce • mom wf
500.0001. Upon colts the 'silting dot/. was 71d.,
and by midst( it to li. per lb. on plantation ce tee,
and front b. 4d. to 24. 6.1. on the foreign,' be odor
listed the produce at 150,0001. An itterearn of the
duty ow pepper of from Is. }Ord. to b. lid. per lb.
would it was conceived, yield a sem of xi, boot . the
noinsat of COltelll9 sod Excise chalks ors tee was at
present NI per cent., the formeetudeg !mall, sad be
abolitioo brier • matter of cogresient arrangement.
By tramsferriog It In the Excise, end by the addition
of 4 per tent., a further sem of 130,0001. might be
raised. A masikierablu laving alight be elected, us
well so additional facility given to commercial trans.
idler's, by doing Eha7 those, multiplied segeletiess
0 which wore established by the present system of our
Costoes.hons• duties.' There were two other articles

et' which Ae-had to propose en increase of Joty, and
these woe oils,. By se adslition of 15.211. per bisbel,
or Sts, 4t1.-pee quarter, and Isy an extension of it in
he firstef time new taxes indeed, the exception of
tint hundred thoesmal pounds might be raised. All
'reined, be anticipates, that a sem of one million foes,
upon spirit, he shvolil popes, to wend to Ireland.
I. post this average of the lest year, the price of malt
bed bees leer shillings per qoarter lower Chap it es'
shaperiod when the last dirninetion of the ditties
lark piece. T. resell of tae This. 'Gentleman's

stalemeet stond thus : —Matt, in 1818, was 31. 17s.
pefilsertes ; and in 1810, 41 10s. ; he allearml-101111:
of hops to • quarter of malt, publish, in 1818, were
at 41. per lb. and this year at 9d. ; >e that theloilli
Cost of material in 1818 was 51. 194., and in 1819,
51. 84. 4.1. ; and dedurtiog the one from I ha moos,
there timid be left a balance in favour of the peewit
year of 10s. 8.1. in the bleeping of • (miter : his *pl.
pion therefore very fairly was, not only that the lire.
wet price of beer could bear the additional tas
malt, bet that if the conking harvest were f ble,the
Public might look fora reduetion of the presets, price.
—lllostr!] —The only remaining article to ithich be
, to call the attention of the Committee was that of
! spititsdistilled in Et/Wend, for he did not mean at all
to teach those of Scotland or Ireland. The-present
duly per 'llion upon British spirits was Is. 9d.,which
be proposed to raise to 24.; open Melt mod sear
Wash it would be 2s. Gd., and open British Wine 3s.
The whole amount produced by thews alterations
would be 500,0'.)001. Haring Rove through them de-
tails he had little more to offer, eldest some Ilnes
Gentleman •ished him to repeat any part of the sub-
ject that he had not rendered perfettly intelligible.
Mr. GRENFELL observed acmes the table, thit
he had not quite understood what the Right lion.
Gentlemen bed said regaidinithe 11 inillioes.
The CHANCELLOR of the EXCHEQUER
said, with reference to the 11,000,0001., he had ob-
served that 13 millions were tow/iced to balance the
expenditure of the present year with the income, bet
that he hoped io the nest year, pertly from reduce
tioas of charge principally on the [Wooded Debt,
and nth/nemeses, the sem to be borrowed would not
@Breed 11 mislions. Supposing, therefore, the Mose
should think it safe, nest year, to retort to the
Sinking Feed for a loan of 12 million., fuer ippillious
in addition from private sources would bi ill that
would'he required to conclude the payment-of the
remaining 5.000,0001. to the Beak of England ;,1
as far as Mmistets were able at present to see,
4,000,0001. would he all that would be Decease.
ry t• complete the supplies for the nest, or
for any latere year.--(Cries of Mier, hear !)e'
Without trespassing farther on the lima of the Hoes*,
he proposed his first Resolution, which was, " that ,
towards the supplies of the present year 12 millions
be railed by way of aenuity."
Mr..Glt EN FELL wished to preface the few Mts.,.
tritium he should make, by thanking the Right Hon.
Gentleman for the very clear statement he had this
night made. Aeseming that the revenue would male.
fain its present level, he also agreed, that it was most
fit that that surplus should be carried forth., then the
existing amount of two millions—that it aboold be
patterned by the two modes, of reduced expenditure
and additional fazes, to Dee millions. After the
country *bosh! thus be placed in an ettitede to cons-
mood respect from all the world. he should feel most
happy if, by economy, by the proposed regolations
is the collection of the revenue, and Isstly, by
the operation of comrand interest, those five
millions were raised to eight millions of surplus.—
With a surplus of two millions, it would have more
power to assume a defensive position : five millions
would still more strengthen it, sod with.. spittle+ of
eight millions, he should be glad to know If there
were any natiots of the wend ((smo Curt forbid
that be should insineute that there 'skied any such
design). kids could make an attack upon Greet Wilde
with the remotest chance of soreess.--(Cheers.)—
With respect to the Loan, it was a plats that gave
universal satisfaction, eacepting to a few who, tree
• perversion of understandieg, obvious enough and
email, explained, had taken it into their heeds that a
loan of 30 millions would he much mare silvan.
togeoes le the nation than one of 12 millirm. There
was owe part of the sehject net adverted to. he al-
luded to she generally understood refusal ref the Bank
of England to give the Loan Contractors and the
Public that accommodation which for the last 20 or
25 years it bed afforded, by making a proportion of '
advance on the instalments of the Loan. He was very
glad that they had not consented to continue this as. I
Ist, because, sinless he was mach mlstakma
hi his prophecy, the Pestle would Ind thus it enold dye !
without it ; and 2/11y,because the transaction exhibited
the Corporation of ilia Bank of Eneldnel in its trove...l
loam It was, pettier, 'lateral that the Corporatins
should feel some degree of resentment &gaups' Govern.
meat,* hich, after 20 or 25 years of seSservi•ncy.hsd at ,
hat broken the flattops by which they tad been so;
long and injeriossly bound. They had hitherto bees
ausioosly convulsed by Nlstainers in all exigencies re-
garding the finances, and no doubt they thoaCht it
a little hard that those to whom Omagh not quite
disintelestedly) they had given their advice and as.
siatancis, now teased against them. Perhaps ems
they 11.4 ht feel some portion of resentment at the
apparent ingratitude of their proter.i.s, the Fhst
Lord of the Treasury and the Chancellor of the
Sachsupter.—((kcere and laughter.) —I , would he
easy ter go tortes at barge into this pow, hut he would
aterely congratulate Moisten that they bed at length
closed their esesoeipatios from • specie. of tyranny
as divest:fret to the Goverstient as injutiosa to the
best interests of the country.—( Haire !)—With re-
spect to the proposal for raising three millions by
tasei,he was certainly disposed to think that this
was eat the most judicious moment for making the
eaperimteL
Mr. MANNING said, the compliment which
had been attempted t• the Directors se individuals,
be (Mr.. Manning) was not for one at all disposed to
aecept„ when it was asserted that in their cot prime
capacity they had been guilty of ■ total dereliction
of duty, sod with acting in hostility to Govern.
meat from pique, spleen, sad littleness of mind.—
On the part ad himself end his coil/ogees, he (Mr.
Itanniog) wpuld assert, that whatever had been the
result of their deliseratinns, they bad not been actu-
ated by any thing like pique or animosity towards the
existing Government; they felt theasselses ',pest°,
to such paltry motives, and to the 111CtselSaiiell of he-
irs/actuated by them. The Directors had been sad,
that they were wet to he prilitici '; that they had
nothing in tin with the state of the country, or its
inictests . and that they aright to confine themselves
so tl•eir hooks and banking hasisters ; but I. the par.
licular in which the Honourable Gentleman hid
blamed the Bank, he might rather to have applaud.
ad it, at least if he were consistent with himself. lisps
pose the loin had been millions, and the Bank bad
been called upon to advance nine or ten millitess.—
Suprte too au rafatourable bumf, it try ether

sanimilent 'sternal ctrcumet.nee, over *Akio 1:,.y
could hay, as it•fl.+eore, sego to rai.ia lb. plc, et
gold to 41. 10s, or even to 41. Ss. per ...are, tett.'
tint might not have been said anima at. Batik ? -
Weald not the lion. Gen•leman base harri rate o
the Ina to
.romploin, and /n Chars. the Dire's'''.
*with childish imprudence for not psear►ing a tin
cantroul Gear their lassies, why. they knew that ■ Ball
bad passed to compel them at a certain tidal and ar.
cording to certain !inn, to pay their nolo, iw golti?
(Cheers.)—lle a d the lionottiable Castleman
(Mr. Greaten), that it wweld be much mote to his
credit if in Nine be would abstain flora empleyiag
such epithets as he had this night applord to the Beak
of England, and such as those with which, wart if.
tee week, and day after day, he had fatigued the
Hone. lie spin !waisted, that public considers•
lions only had ialonteed the Bank: at taltatem
cetailibsion the Hon* might arrive, it was Re antit.ol
desi►b of the Court of Directors to comply strictly
with the dirmlion of Parliament.

t-,'.*. si

Mr. l'FAßSBlnoisied that the attack made upon
the Hank was wholly enwarranteri and unprovoked.
Whether he (Mr. Grenfell) were retooled in his oni.
form obese alba Bank by any feeling of pigs' or em
lenge, he could best determine.—(llear I)
"Mr. MELLISH said, that the accusation of the
lion. Gentleman, he, for one, despised with all hit
hart. Who had informed the Ilun. Gentlemen of
what bed passed in the Coati of Direttoro, he (Mr.
Mellish) could not of coarse knew ; bat if be did
know, he 'mild be one of the first to-morrow morn-
ing to move he should be ezpelled.—(Crier of
blear, bear !)-114 hoped to be pelmitted to
make ono observatiess which ought to be stated,
I though it could scarcely fail to to all who had
heard the 800. Gentleman ; it was thin—that if the
I)ireetor had bees (silty of a breached' confidence in
communicating what had passed privately in Goad to
the lion. Gentleman (Mr. Grenfell), t►at lion.
Gentleman was sot quite free from a similar access.
lion, or comething like 1., for publishing in the lloese
the iiiteiligeoce that had been entrusted to him. The
lien. Member then, in a tensor voice not very midi-
hie in the rimy, proceeded to notice a discordance
of opinion prevailing between the Member for Porter.
liagton (Mr. H ardo) and the Member for Jlatlow
(Mr. Greaten) on the subject of ,be profits sod be.
oases of the Bank.

Mr. URENFELL esplsined. The lion. Gentle.
man bad represented it as scarcely honourable in him
to hare stated that there had been a division in the
Covet of Directors, since that fact could not have
been communicated to him wiihnot breach of cont.
dente. He had only to say that he had heard the
!feet stated upon the public street. and by a Bank Di-
i rector, when tee or three other Gentlemen were pre-
' sent, and that no symptom of any necessity or any
wish for *orrery had eppr•rril.
I . Mr. PROTIIF.ROI'. said, that he was confidant
figs the character of the Directors that they were
WWI, incapable Of pique or lit.le.minele.l.it 5.. The
'circumstance alleded to meek!. lanure -, iotroilece
greeter iedependento of the Mot on the pert of Go.
sernment. Aa he ha I opposed temporary eapedi.
Itote, hi cons;dered Mussel hound to give his support
to a loved and vigetnes as of Finance. The
: meinieres adopted for the r•olorstios of a nutiallic,
f corrency had his entire ccocesreure.
Sir J. NEWPORT said,
.that lie resit/ theoghti 1
the conduct of the 131nk perfectly right. After the
. steps taken for the resumption of cash payments, it
mu bet fair that the Bank 'hyoid ttttt INI their own
*discretion. What he thought as in the measure new
ibefore the Deese had been manifested by his votes
tin the two preceding nights; bat lest any doubt
Anold @gist on that point, he most declare his con.
1 riction that the minify was not cappble of besting
' any additional hardens. The tag on malt was to es.
'tend to Ireland and taScotland ; the taxon spirits was
i not to extend to either of those enuntrias. The con.
i dect of the Right Honourable Gentleman ought to
• hare been reversed; at legal the Imposition of a tat
on malt ought to he matintericted by a 'molding
les on vitas. Ile threw this out sithout is,, imen.
lion of ingesting a new tee. It was of the utmost
importance to the industry s•.il comfort of the lower
I order+, of the artisan and labourer, that malt liquors
should he subsiiisted for visits.

Mr. BENNETT began by snag, that he lot one
bad never anticippled that the income of this year
would hive exceeded the espeoditon so much us it
really did. He had liticipoted • surplus of
even 2,000,0001.; but he Could not help at the same
sate reminding the House, that the person who laid
the foundation of this real Sinking Fend had pro.
mind that it should now be tweut" atm millions. In-
stead of twenty.one sniffles they lad only two
fie had also promised that we should have no morn
taxes, yet three trillion, more were now to be raised
by new teen. Beside!, by the admission of the
Right llon. Gentlemen, it splinted that we depend-
ed upon the steadiness of the Revenue for this very
sum of two millions. In 1818, the RI. Hoe. Gent.
had stated that we were to have 49 millions of Ro.
venue; hound of which we had only 45.093.0001.
This year the Revenue dad only been 48.418,0001.
II Whet reason bad we to expect that iw 1890 it would
In es large? What assurance had we that there
would not be as great a falling off as in 1818? When
he coosidered the distreu, suffering, misery, and
wretcherhast that prevailed ; when lie found, into
whatever department be looked. whether into the
agriculture, the commerce, or the manefacteres of
the cantry, that nothing was to Ire seen hut die. rrrrr
want, and beggary; Len be considered these thine*,
he was compelled to rail it nothing short cf mad-
ness to impose one new as, and he thought
it imposs.hle to foresee the resale. Ile did net
say that the tax could not be raised. The Re.
might be forced, bet it most be from one
of two sources—it enlist be either be @stetting
from poverty what poverty could not bear to give,
or by taking it from the Nor Rate.. On the
other parts of the abject he sen,:ld not tooth et pre.
sent. the patticuler ittes, and especially op the
Malt Tax, he should offer some observations on a
fears 'erasion. ile heeded, hooever. to say hefekrel
he coocleded, flat the 3.30 persons who had voted feel
three millions more of testis ,ere aware that this See.
sion was not the end, but the beginning of Parliament.
Lad Ses.lnn 3:10 persons could Dot have then (newt
in that Muse to glee tech a vete. Ile oishied Insirk.l
however great the ;tient,. -nine* of it. Mt' these 330
vericos should our, be trot back to the

~. r:

of tatbbilar,=•-y as• .0... In
"aseat ~. .1.
•el be Comte. stss#for thoir condor.
Mr.rmAN , the Ihnsis Ind a spife,
IT
;id .Isar) or etc wing. n-t GO 1N... se
bet mar aMo Ina Property Tali --a las opine the f,art.
'bolder end this lac tlerd, a tat wpm. shomoste• a..il
upon the wealthier pert of the community. H• thou& it
ke•ter f.r the Home to say, " Com• a d
Icy e eseefilled Proper') Tad, of whirl. fire a' all le.,
the herd..," thee to Woos' ens oilsor has. Sul if
Goalies's would not haim a Pre peril Tee, he
thought, short of a Prop.'s, T., that ire ta 'as Ito.
posed were the most loni-nt ; het it • P oporty 1.41
should IA mcommentkd, he would shift klsgreeed
aad sappnit It.
A MEMBER, whom we did ant know, said, thlt
the Geotlrman oppnsite (Mr. liamooti) hid
kept back altogether that IN of lams Lad
he.,, reduted since 1311. His filaje•f •'s
bad jest filed epos the proper line. They hs.l pum
posed what the country could b. r, and me
tbrre mill;oos sal precisely the sue they sight Id
raise.

Mr. J. P. GRANT said, the he had natiaraloni
the Right lion. Gentlemen to as). that no pert 4
the Leen wee to be taken from the Si ki:ot ABA if
Ireland. [The Chancellor nodded ottent.] Ira
presumed that this meant. that no pert of the sob&
memos of Ireland appropriated to 'he redectioe of
logos in Ireland, es contradistioguisbed from loons la
England for the United Empire, was takes into sc.
count in the Loan of this seas. if so, be begged to
refer to a fact which bethought Incontrovertible. The
Act 18 of the King had authorised the transferenee of
stock from England to Ireland. The Si Acing F.. it
in Ireland, compared to the marketable stock had
been so much greaser than the Sinking Fend in Eng-
land, compared with the marketable stork, that stork,
could not be bought. The Act wee therefore parsed,
authorising the traesference, and not It-a than
4,500,0001.118 d bete transferred. The trasaference
was so groat as to affect the actual coon* of *I.
change, and to raise the exchange from 8 t•3d Id Ii
Woes, Dablin and London. By diminishing the
Sinking Fund in England, se now proposed, the
proportion of the Sinking Fund in Ireland tolsoid
the Sicking Fend in Englaod, se compared with the
respective principals, would be intemined ; so that by
investing stock bore sod trassferriee it arterweeds to
Ireland, a considerable pr 'eighth. made. Toe pro-
porgies was not feirly stated r • he ['meet's pe
Fend soil the amnent of deaf, het twat eels
the Sink* Fend and the sionista of the atinuitie",
for the prioclpal varied in it► olotacter as it happen-
ed to be three per cent., 4 per cent., or 5 per rent. ;
and there were also parts of is. money paid into Den.
eery, and ot!.er it is. 4ite tis tuals,which were
not nataketable. The S:ulsio4 Fued, ccmpere. to
the amount of the anovities, was nit& to bear a:ilt
higher proportinn is Ireland, by its (ron,
the present loan. lic dii E.nt know wt•ther he
made himself understood, bct it ass clear that the
proportion between the Sooltoog and debt its
Ireland was Increased, sad coopoquoally Oaf efock.
Mont would beer mere internee. It aas equally clear,
Ikea gain Could be made by investments here, and
11104iNnesit tresseforroces to Ireland. Be hoped,
therefoie. that 1.4 Right lion. Gent. would recoi•sidee
the subject, and adept the same plats with tespeet to
the Sinking Fund in Ireissid, es be bad proposed to
apply to the Sinking Feud here. Theßightlion.Gent.
bed raid, that there would be no more lases respired
if tits three millions were Oise raised ; het there were
at present Owe Millinns of War Dalin cautioned
till 1320 or 1821. These, of coarse, erre to be
further continued. Did he not call diet an 'alined
War Tea ? What tenuity we, there, too, that the
Revenge would an. COMe op to the representati-nr
of the light lion. Gentleman mere than It had eon*
up to it in 1810?

'The CHANCELLOR of tha EXCHEQUER ea-
plaieed. I. the present depressed state of Ird cols
ernes its commerce and Its industry linguisheri. it
ass most desirable to inerease the vale, of stock,
sod by that Means to giee facilities to commerce and
industry. Ifs this view he considered it wise a
bemuse policy to leave t►e Sinking Fund of 'reload
entooebed. Bet in point of jesting it might net to
be touched, foe there was no deficiency its the Ono.
solidated Fend of 'reload, safer as regarded the loses
raised in Ireland; and the other sepplos in Ireland
were sufficient fur the *spectres of the year. There
was, tharefere, no necossity for a leen in belied.—
The traosferevre of stock was nor greeter than A*
relative were of the markets' required. It resold net
be apprehended Mat any extraordinary transfereeco
of stock would be occasioned by the operation of the
Loan from the Sinking Fend In this consitry. Last
year Ireland had hid no part in the Lan of 30
01166,11,y et only 4,600,0001. bad been transferred. Ira
@Hosing' so what had fallen from him one former ere-
ning as to i lie diminotion of roveneewithia the lam covet-
ter, as competed with .he corresponding quitter of
last year. he bad laid that the dimiousion was little
more thao 100,0001.; bet since, he had the smiefte.
lion to learn, that an improvement had taken pine,
and that metals bad bees made so alto make gear
that deficiency. lie did not man to build soy sr•
gamest span that circumfuse, alone, bet it showed
that a confidence might he placed, in the hope that
our resources would every day improve.
Mr. J. P. GRANT begged to know whether the
improvement to which the Right flonourehle Geo-
tleman had allotted, had not mires trues psymmos
me. le by the Rost India Compaay is advance or
duties?

The CITANCRILOIt of the EI►CIIFQUER re.
plied, that thee* were hut taken iat• the maul
which be had MMisued.

Fir IL WI L'ION objected to th proposed Wisdom.
111 r. CALCRAFT felt it doe in the flight floe.
Gentleman /works (the Chetscrllor of the glebe.
quer), ter congratulate him and the Howse spun the
immure in %loch he ..•d •Ifetted the rontract for the
Loan. At to the new team the more he heard of
them, ae..irrineer was his ejection to their being
*pert! to ; sad he abtreld feel it his duty to useerery
coostitotinttel means ill Isis poser to oppose them.--
Ile would admit that, from his knowledge of the
state of the country, he felt they would be paid ; bet
e greet pert of lb.. would he floes the Poor's Rstet
HP would not dent that the present situation of the
country nes such as 1.. 419 n stroll hopes of sect ce
impt:iccrint in at itr:eitue as to keep OP OS