The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1816-09-23

friend had erred in rorne triiiing parti- 1
culars but with the he had nothing to
sums were so small, that they
made no impression on the total deh-
cit Making all allowances for any err
rors or over state ments in the resolu
tons of his honorable and learned |
friend, the gloomy conclusion could |
not be got rid Of, that in the next year
there would be great deficiency in the |
finances. Whether the deficiency was
10 or 90 millions it was still appalling,
and he was convinced that il could only
De hrouided for by the remedy which he
had formerly hinted az He wished
his persuasion Of that necessity might
have proceeded from ignorance or des-
pair, but he confessed that ne did not
| contemplate the remedy lie had allud-
ed TO, with fhaf disnay with which
others behe!d it. II difficulties were
locke in the face, i: could nci be dis
1 guiscd that, sooner or idter, some re-
ducnon n,nsf be made ia me Dividends !;
and though some gentlemen had locked
TO such measure with the most fear
lul and gloomy apprehensions Of the
\ consequences, he did not think that
the effect would be so dangerous as
| was imagined"
| We will now sec (for this is very i'm
PortaDO what the Chancellor of the Elk.
| chcq9er said in answer TO this remark
OF Mr.. Smith. We shall find him rep
ROTATING the proposition bu, we shall
not find him showing that the thing
| proposed can be avoided without re
| imposing the odious tax on income.
| Z" The Chancellor of The E.xchequer
admitted that the hon. and learned gen
tleman (Mr. Gran) had done himself
credit by the clcarncss Of bis statement,
and the abilities he had displayed T; but
IL was impossible that he could concur
in his resolutions, which added but one
10 the strings of gloomy prognoslica,
tions, which had never teen acccdcd to
by the House. The country, from year
to year, had surmounted It's difficulties,
in spite OF these predictions, and had
finally tciumphed in its great contest,
end he trGstcd that experience would
show that the honorable aud learned
gentieman's resolutions were at least
as groundless as those of any of his
predecessors. The presen. difficulties
/! cf the country zuere great, but, compa-
red with those OF fo,mer years, n3t ve-
| ry ala raiing. We had lung commended
tor sxis,enae--now the only question
| was whether we could dispense with
| parthens which The country mad before
borne, and from which it had been re
\ 10. q no. IT
would not need 10 iecur 20 those bur-
linens, but, az any rare, Inc cosntry
would not I've reduced 10 The cxtroardi-
nary rsmedy hintetf al by the hoporable
seeoader Mr.. Sirhh) This remedy,
which the honorable member had men
toned less distinctly than became The
tproposcr Of such measure, coas no
| thing less than naffonak 6ankraatcy,
The honorable member had, on a for
mer occasion, spoken OF the same pro-
lposal more distinctly, under the name
OF reduction of the interest of the ma,
ltional debt. 1t could moi be necessary
to say, that TO a. proposition SO devoid
OF Justice and WISDOM, the House would
never accede The country would lose
more IN credit and resources of every
kiDd,than it could in any manner gain by
such an enormous breach of faith
| eHear, hear, hearty Whatever burthens
were imposed on the stockholders, in
common with the other classes Of the
kings subjects, they would chcerfuliy
bear, as they had cheertutiy borne the
tax on their property, when plausible
reasons might have been urged against
it. On this extraordinary froho8aL ii
was unnecessary to say more"
4 AS to the 'gloonry professions hav.
| ing hitherto proved groundlcss,' if tho
TACT we've such, that would be no reason
TO believe tina; such predictions will
now prove groundiess. The affairs oil
nation, as they are long while in
moving, SO they are slow in falling into
INTER confusion. I" LIZ i. the East feather
as PAINE ssys,which breaks ihe horses
back" Besides, what is ruin? If, TWEEN.
ty' FIVE years ago, we had been told that
the nation would be ruined we might
have asked the prophet" what do you
call rHin?". And it he had said, " why
The whole OF the real property of the
country will be taxed to The full a.
mount OF the rent; the farmer will pay
20 the government more than he viii
pay to the lordlord; the poor rates will
amount to eight millions of pounds
stcrlirg year; every fifth man will