The Statesman.
London, England, 1813-04-13 00:00:00

,e It. Ang:ll4.l'i-
_
. .
4. ,1-
- • 1
da N.;(.,..
p 4,•., •
•
i • :14 A.. I.s.
• t°: 4
' ' ::?••
1 _, ....-' •••;,\ ,:; .:
. .
. •
. •
• i;.).i.-..9,151. A I
... • , :
•
.. .
• -'.."
ft.i. .
~ .
•
I . ..
.•
• .
.• •
.•
. .
. s •
. •

LONNA TrirktMY; APRIL IS, 181&

Atli* iiii:

LIVERY OF LONDON.
rriiE FIFTH ANNivEltsiuty DINNER of
AI the LIVERY of LONDON, Fit
- --IMMO In PA RLIA.
MENTARY REFORM. will be bekrat Ibe OLD LONDON
TAVERN. IMSDOPSGATE-STREET, T0.5101t ROW.
April 14.1813, to which several distinagaished Poislic Characters
are Imited.
ROBERT W A l'f HMAN. Esq. in the Chair.
STEWARDS.
William Mathews Joseph Thompson
George Birdied John Little
Walter Peacock George Stevens*
Williams Ewnrt Peter Downs
John INn.ted Charles &ism"
John Mace Malaise D. King
Jolla Harvey Robert Caner
George Guiltier Samuel Roberts
John Briscoe Robert Hedges
Sassed Canis John Pierson
(barks ilroppe Henry Gray
Richard Cheese wright George if,k,
Thomas Walker Thomas Bradley
William OriMths James Shepherd
Alfred Thorp Samuel Share/and
Thomas Tharp Robert Bromley
Williams It..se Joha SW's
John Dsggras Thomas Crishatt
Andrew Amiantus minimaiy. Cope'
Stephen Adana ' Wryisat'Crsrc..ratt
Joseph Hert-Ombe *Charles Thomson ,
ti MMus Josses Thomas Thomson
Samuel Fused
Tickets, 13s. each, to be h
Tavern. The number of Tick

• IMPRRIAL PdIRLIJAMPIT.

itOUSit 00 LIMOS, Ain It.

. ' • -
The Tori Of Marva leak lile'aittlis act: hi. sent.
A few of the private Bill, Refo#l• the novae Were flwarded.
After which their bordribipt adjourlied for some tinge during
ple:eArre.
On the removing of the Move. the Pliteadily Paverdent
was read a talrd iliac mod pr.sint.
A few P.ivate or Local were briveiln op !rota Ole
'mons by Sirs W; Rivalry, R. Vaugani,, and other 310.mkrs,
mod re.peetively reed a first time.
Mr. Leckie ginviefred wveral Aceannta froai the Stair" Ogee,
punaant to former vote! of their Lordship ; whirls were of.
dared to lie on the table.

The Additional Customs Duty Bill, and the in frond Tome.
to Excise Hill (which were read a secohd time co 9aturday).
iierally passed through Committee of the whole i atm., and were
eeponett wi:heitit any sinend.:ient.
• Lord ERSKINE preenled trto Petitition thorn c,rtain
-Citr!'o,Freetin:ders, mid others. of the county of Coro o.al.
Za, lost the Catholic Claus, *hien Were ordered to lie ou the
. , On tbe‘motiou otthe tart of DA lINL ET ir solo, of'
counts refaitiseso the kliii:ary. Bone of tinvehomery .preporno
Vey to Ws tireecothwattlet the tecesswtheetende red to be
iil heforeA
On the siotinn cif the Kari of etA:NciRTY, the Paorentreo
Regulation Bill has read a second time, and ordered to be cos.
witted.
On the sugarstiou (if the Earl H A RRO WB Y, the farther
consideration of the Repair of the Curates' Stipends' Bill was
deferred tin Thursday.
NATIONAL DEBT BILL.
The Order of the Day; Open which their Lordshiptwere saw
atoned, bight read,

~1~

.d of the Stewerds t and at tie
its %ill he Nutted.

The Earl of LIVE (POOL, on moving the se-
cond reading of the National Debt Bill, observed,
that if it could be proved that this measure stels a
violation of the, public faith to the public creditor,
he would agree that such an objection ought to be
fatal to its progress., He, however, was, on the
I contrary, satisfied that there was not the sligh'est
I ground for any objection of this nature. His Lord-
: ship then took a brief historical review of the eeta-
blishmentesnd progress of the Sinking rand, con-
f.tending that both io the view of Parliament and of
the illustrious author of that measure, the late Mr.
I Pitt, and also in that of the stockhekler and the
I public creditor, the principle alone was recognized,
that the debt should be repaid within 45 years, trent
the time elf the Sinking Fund attaining t, 3,000,000,
or from the time of the contraction of each, but
that the motfe of payment remained at the discretion
of Parliament according to circumstances. Had it
been otherwise, the stock created in each year would
I have formed a separate fund, and bore a separate
j price. Undoubtedly a contractor for a loan in any
year might have made it apart of his bargain, that
the sum advanted should be maths separate fund, but
this had never 'seen done, as the stock so created
would have been less marketable than when united to
the general stock ; and the fact wns, that the whole
of the stock created in each yea. had formed o'.e
mass, so as to render it impracticable to distinguish
that created in any given year. The stockholder
had never looked to any other security for repay.
ment than the redemption of his stock within 45
years without any reference to the precise mod in
which that redemption should be elf sree. His Lord-
ship quoted and dwelt open the pri.vieons of the
Acts of I,7sfe. and 1802, for the pqrpose .if enforcing
!ehis argument, and to prove that sq.ch bad been con-
! stantly the view of the subject, and the (minion en-
tertri:•73 by Parliamen., by Mr. Pitt, and by the
stockl.elder, end, therefore, Etat the present iiiil
I did not the slizhtest degree violate she public
faith, or in 'he least trench upon the sec.lrit , of the
public creditor. With respect to the ohjecti,,n, that
the consequence of this measure would be an in-
creasing debt, tied a decreasing SittkiagNfattd, he
observed, that under this measure the Si-Alive Vona
would never be dimitti3hed below 11,000,0001. one
would at any time be much loss than tta,cco,oool. and
that the proportion it would bear to the whole debt
• would be iarger than in shy year tilt %eking Fund had
borne to the debt. The Sinking Fund, u aler thh, on a-
. sure %%mild amount to one sixty-first and a q lateet of
the whole debt, while in 1807 the Sinking Fnnd bore
only the proportion to the. debt of GC. As to the
objection on the ground of time, he maietaieed that
it Was universally admitted, that at some time or
other the Sinking Fund most be subject to regula-
tion. To allow it to reach that period, When it
. would become necessary to repeat 19 or 20 minions
of taxes in one year, would give a ruinous shock to
the commerce and industry of the c )untry, the con-
-1 sequences of which were dreadful to c eitemplate.
I '1 he question, therefore, was whether thie was hot
a proper time, and he • was prepared to maintain,
! that at no time could circumstances render it more
proper to resort to this measure than the present mo-
ment. • What had we effected during the last ten
years of war ? we had raised 20 millions of taxes,
by which we bad prevented a debt of 200 millions
from being throWn upon posterity. In no country
at any time had such an effort been made. Now,
therefore, was the period to. interpose a cessation of
taxation, .to 'refrain from imposing new burdens
upon.the People,- and to avail ourselves of time re-
sources which were within our power. Ely the pro-
posed pier' the war might be carried on in its present
extensive and expeniive scale for four years, without
any additional taxes. In the course of that four
years many events might helves—peace might take
place (but upon that he did not wish their Le rdshipe
to calculate),--tile war might be carried on on a re-
duced scale of expellee, in which latter case, under
the propoited plan, it might be carried on for a still
greater number of years without additional taxes. But
at all events, upon the resent scale of expense, the war
might be carried on for 4 years wit hoot any additional
taxes, and with the improvements in the revenue,
which the interval would naturally suggest the war
might be carried on upon the present system for six
years, without any additional taxes. Here then war
a positive advantage, without in the lenq trenchi•

upon the security of tue public ci•Aitor. :Atio

tifyiog was it to.reilect upon the present tiituatiets

suc
„Tim-
f:Adifil
•
•
•