The Statesman.
London, England, 1812-02-08 00:00:00

. " was -not AOOO,OOOl.- batik/ally 3,a)4401 uch
were the diminishing itibdttetof the country to car-
ry on the wild and extravagant projects In'whlch we
were embarked. There were. besides observations,
- which arose out of the manner.of maktfig by the
account of the Consolidated-Fund-3(30,00P. for,
• . instance, was taken credit for lon- .atebtint of its,
terest for _lrtlands-L-Ilad itelsed Moen in i situa:;
lion not only to pay het Own expences, bqt•-elso'
to leave a surplus •of revenue, It might here been
fair, as a mere Consolidated Fetid account, tel
place the item jn that way; but. when it wasiteown
that' -Ireland had Unfortunately been unable .to
goy her own eareets, and that this parted' the Ems
pire had been caned upon to defray •a•preportion of
them, it surely-was Moit erroneous so to place this
item, when it ought undouStedly to have been placed
,tin the contdryside. It was in truth of most essential
importaline,:that Allis subject of the finances of the
country should be taken into most serious considera-
lion. _ Not only the great increase of .our Funded
•Rebt; bet still Mario( the Unfunded Debt, coinbin-
`ed with -the diminishing resources of the country,
focused the strongest grounds for apprehension.:- If
the state of our finances were examined with that at.
tendon and consideration which the salijecemott
seriously demanded, he feared it Mould be found.
that we were Little able even to fulfil those obli-
gations wbfelfthe true interests of the countryim-
posed, mach invite carry on those desperate and ex-
travagant projects in which we were so unhappily
embarked: • •
' * The FArt' of lIARILOWAY contended that Ms
Noble Friend had taken, au erroneous.view of the
subject. The produce of the year ending the sth of
January; 1812, was a mere trifle short of that of the
yeeronding the sth of January, 1810,.but because
it was not so great as that of the year ending the sth
of January, 1811, the produce of which was the
most esiormoasof. any year known before, his No-
ble Friend had contended that the resources of the
.country were dimirishiog,and that there was ground
for alarm. lie, on the contrary, was decidedly of
opinion, not only that there was no ground for
Mara, but Wit the finances of the country were in
fi nourishing and prosperous state. That the defi-
cit in the year ending the-sth of January, 1812,
as compared with that ending the sth of January,
JBl 1, amounted to .so much, was easily account- I
od for. In preceding years the interest of the'
loans had been provided for, by appropriating taxes
elsonly in their full collection ;
_but Wit year new
taxes had, been imposed to defray the interest of
the loan, which • could not he brought into a
state' of fullCullection by the sth. of January, in I
The present year, and which would thus account
for several hundred thousand pounds of the corn-
perative deficiency. There was, however, no falling
.oti in-the revenue, with the exception of the Cus-
toms, a deficiencyln which was of course_ to be ex-
pected ; but the increased produce of the taxes in,
general consumption, proved the general afiluence.
.As to the interest from Ireland, it was taking credit
for to meet the.charge on the other side. With re-
spect to the debt, he contended that uo war could be
adduced, in which so little unredeeMedilebt had been
incurred. From 1803 to 1811, the amount of the
unredeemed debt incurred did not exceed seventy
millions, whilst the•Sinking.Fund had increased six
millions, being now more than double its amount in
1601 From all these circumstances, lie contended
not only' that there was no ground whatever for
alarm, but that the fitiauces of the country were in a
prospe"rous and flourishing state. •
fin I:i I,f LAC, D II)A LE denied the inference
Alms n by the ;noble. Earl; and .maintained; that if
the finances of the country were, thoroughly examin-
ed, it wo-lil be found, he did not mean to say that
wn should be unable to resist a foreign foe, but that
It would be impracticable to carry on these wild pro-
jects in which we were engaged. Would the Noble
F.arl affirm, that if the Bank were to withdraw
6,C00,0001; from circulation, that we could go on ?
'Would not, in that case, the Exchequer Bills fall to
6 0r,6 per cent. discount, and be returned upon the
Government ? who would thus receive only their own
paper, in payment of taxes, instead of money. As
to what had been stated by the Noble Earl, that only
70,000,00c1. of unredeemed debt had been incurred,
it
.would he found, probably, that that was owing to
the- provident cares of others, in some of the years
of the-war ;. and that if the bitter. years ,of the wad
ePe looked into, the expenditure would not. re-
&mid much to the credit of the Noble Lords oppo.
site. The Noble Earl, however, had said nothing
About the unfunded debt. Ile was satisfied that the
%hole system of the finance of the country must very
loon widergo a Most sniiiute recision, and become the
subject of most serious consicremtiOn.
•THE .ROYAT. HOI.IBEHOLD.
The Earl a LIVERPOOL moved tbe
the I),Y rending of the Mill -Sotto&
held Bill, evil:observed, that he Would ndw take the'
opportunity Of explaining the subject With reference
to the three Bills now on the table, all forming part
of the same Arrangement (the Royal Household Bill,
the
.Household Offices Bill, and the Regency Ex.
peaces His Lordship' than adverted to what
had pissed hi the last Session of Parliament, when
et!.e 114;ency was under'consideration, and observed,
'that whatever opinions -might be. entertained of the
Improbability of the King's recovery, they must
neverrhells legislate upon the possibility of his re-
entering, so as to resume the exercise of the Royal
A"th"ritY% His Lordship then expinined the object
of the Bills, to appropriate 100,0001. for a House-
hold ror the King, and to the, support of Lis dignity
and personal comfort ' • together with 60,0001. the
amiept of the King's Privy Purse, and 10,0001. to
the Queen,to meet incidental expences, making to-
gether i.n,oopt. To meet this charge, the Prince
'of Wales hod consented to give up to the Civil List
free) {pis Exchequer Income
.50,0001. and 70,0001.
. was proposed to be voted by Parliament, making
120,0001, leaving a deficiency .in the Civil List, as
transferred to the Prince Regent, of 50,0001. with,
however, a consirlerable difference of expellee, as his
Majesty's expenditure had of coarse been consider-
ehly cncreased by' the lrrgeness of his family. The
Noble Earl concluded b,y.exptessial his regret that
the question respriiingthe bfeeesse of the expendir
tuic of the Civil List had hot on former oceasioni
been fairly met, instead of resorting to the VODAIk of
tutiatig gnol the deficiency dirt of other
ilAtlYd is he was that I hie been
tlto.llVotail

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