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chancellor of the exchequer should Mr. Grey said, there was an arhave made it proportionably greater; ticle in the report of tie selet com'it ought to have been 6 or 700,000l. mittee which he wished to have more than his estimate. Not explained. There was a sum of withstanding all the heavy burdens," 1,500,000l. stated to b: unfunded said Mr. Fox, * and all the dreadful debi, unprovided for. He willied to taxes we are about to impose this know, whether certa'n fumshad not day, we have stili one million more been svecifically granted last leifion to provide for the exigencies of the of parliament for the payment of public fervice.

this charg., the morey for which With respect to the proposed had however been diserted to o:het loan of 200,000l. to the emperor, purposes. If his were the case, the to enable hin to pay the interest of right honourable geni'e ran hadvioa sum which he had formerly bor- lated the acts of apra, priation, and rosed of this country, Mr. Fox diverted the money gian:ed to parobserved, that this was very differ- liamentin a manner nigbayeri ninal. ent language from that held out by The chancellor of the excheqer the minifter when he applied to the replied, that the objection which people to be security for the house had just been made, was founded of Austria, and when he extolled entirely in misconcep:ion. The the good faith of the bank of Vi- fum alluded to had not been grantenna. The loan was made to him ed by parliament for that ipeciic in critical circumstances, and he purpose, nor had there been any was not to pay the interest then due violation of the appropriation act. because he itill remained in critical When the loan was made for the circumstances. The house was call- purpose of paying of the debt ed upon near the end of April on the exchequer yills, the bank to provide 18 millions additional. "had not availed the nselves of te

Three payments only had then been opportunity to subscribe, and there made good upon the loyalty loan, was power by the at of appropriand there were still seven-tenths ation to pay them in canh.' This, to be paid, which amounted to at the end of the year, made the 12,600,oool.; so that, between then grant exceed the fupp.ies, and the and the firft day of the next Ja- sum of 1,500,00cl. mentioned by nuary, the enormous sum of Mr. Grey, so far from being con30,000,000l. was to be collected cealed, was comprehended in the for the public exigencies. In 1796 last budget, and was paid out of the subjects were burdened with the supplies of the year 1797. new taxes which produced the an The resolutions were then put, Dual sum of three millions; but the and all agreed to without a ditaxes imposed for 1797 amounted, vision, except that which imposed by estimate, to seven millions and an additional tax of 1 d. on news a half. What arguments were used papers. On this head the house to reconcile them to bear quietly divided – Ayes 151 – Noes 43. such a load ? Indeed, they had been The several bills for imposing told very rhetorically, that “they the new taxes proposed by Yir. Pitt had not been scratched by the war," in luis statements in the two budgets but he feared these new impositions for the current year, were regularly would lead them to conclude that and succeflively brought into boiá they fhould be desperately wound houses of parliament, and most of ed by it.

them were passed with few aitera

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tions; but near the close of the fef- from some strong obje&tions to the fion, on the 30th of June, the house of mode of collecting, had been given commons having resolved itself into up. The tax upon the transfer à committee, the chancellor of the of property had been estimated at exchequer rose, and stated to the 170,000l. but he now took it at no consideration of the committee, cer more than 80,00ol. The proposed tain substitutes for the deficiencies duty upon advertisements had been which had taken place in the esti- given up, which created a further mated product of the late taxes. deficiency of 40,000l. The whole In the first place, it would be ne- deficiency, therefore, for which he cessary to find a substitute for the then proposed a new provision, proposed toll duty, which had been stood as follows: estimated at 450,cool. but which,

Toll duty

450,000 Inland navigation duty, by some new regulations, would cause

90,000 a deficiency of Newspaper advertisements

40,000 Transfer of property

80,000 Total deficiency f. 660,000

These deficiencies Mr. Pitt proposed to supply by the following new taxes :

Surplus on Scotch Spirits
On horses employed in agriculture
On pepper imported
On coals exported
Watches and clocks

182,000 150,000 15,000 14,000 200,000

Mr. Sheridan strongly opposed to the house of commons a mefthe tax on horses used in husbandry. fage from his majesty, recommendMr. Burdon contended for the ne- ing it to them to enable his majesty cessity there was of the landed in- to make remittances from time to terest coming forward, and fhew- time, to be applied to his service ing they were willing to take their in Ireland, in such manner as share of the burden. He wished mould be approved by the parliato see an additional land-tax upon ment of that kingdom, to an a. a more equal scale, in which he mount not exceeding 1,500,000l. was seconded by Mr. Dent. The on provision being made by them comunittee divided on the horse- for discharging the interest and tax-for the resolution 83-against charges of a loan to that amount ; it 8. The other resolutions were and also to consider of guarantee. carried, and the bills palled with lit- ing a loan on the account of his tle variation.

ally the emperor, to be applied in On the 29th of April, the chan- makiog good the advances to the cellor of the exchequer presented amount of 1,600,000l, which had

been

been made to his imperial majesty, ror, in alluding to his hopes of and to defray the charge of such

peace, had said

6 he trusted further advances as might be made that the enemy would at length to him in the course of the current consent to accept equitable conyear, to an amount not exceeding ditions." From hence Mr. Fox 2,000,cool.

pointed out the probability there The house, in a committee of was of the emperor's making peace fupply, took this message into con- without consulting the intereit of fideration on the ift of May, when Great Britain. We ought to wait the chancellor of the exchequer ob- the consequences of the impending ferved, that he thought it unnecef- negotiation at least, and not vote sary to make any oblervations upon away the money of the people in that part of the message which re- the dark. Suppose the war ihould spected the proposed aid to Ireland. be continued, it would be necessary Respecting the remittances to the to know the grounds upon which emperor, much had been said be. the negotiation had been broken fore; but feeling it to be almost off, and whether the war was conthe general opinion of the house, tinued for points which might be and of the country at large, that it considered as material to the intewas desirable that we should have rests of Great Britain, before the the vigorous co-operation of the money was granted. For any thing emperor in the war, and knowing the house knew to the contrary, we could not expect that co-opera- those iwo millions which they were tion unless we afforded pecuniary called upon to vote to the emperor aid to his imperial majesty, he might be for the attainment of obhould move a resolution, to ena jects which might be detrimental ble his majesty to make advances, to the general interests of Europe. from time to time, to the emperor, He strongly urged the necessity of to the amount of three millions and waiting three or four days to know a half, to be repaid by his imperial' the issue of the negotiation between majesty, so that the sum then pro France and the emperor, before the posed to be advanced, was about money was voted; the armistice 1,880,oool. and this fum was mov terminated on the 16th of April, ed for accordingly.

and there were letters in town from Mr. Fox observed, upon this oc- Vienna, of the 15th of the fame cafion, that it was impossible for month. any man who had examined the The chancellor of the exchequer matter, to entertain a doubt that contended, on the other side, that the sending of money to the empe- a mail might reach Vienna in ten or ror had been one great cause of the twelve days, with the account of the scarcity of cash which then pre- vote which he then proposed to the vailed. He contended, that we committee to pass, and that if tne newere about granting money to be gotiation was then pending, it might fent to the emperor at the very materially affect the terms in discuss moment when it was doubtful whe- son. Io reply to what Mr. Fox stat. ther he had concluded a peace with ed, that the committee might perthe French, or not. It was noto. haps be votingafumtoenable the emrious, that an armistice for fix days perorto conclude a separate peace, he had been agreed upon between the recommended a discretionary power contending armies; and the empe. to be vested in government to stop

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the supplies upon the supposition of ther any part of the money to such an event taking place. Mr. be raised by that bill was intended Grey and Mr. Sherica" i uppored to be felt to lead? Lord Grenthe arguments of Mr. Tox. When ville laid, that the sum of one miith house divided there appeared :up lion and a half was intended for the original resolution 193-—against the service of the lister king om.

In the course of the debite several A resolution also palled the com- arguments were urged by the lords mittee that a discount of 5 per on the opposition lide of the house cent. be allowed to such fin icribe on the impropriety of fending so ers to the new loan as thouiu an- much money out of the kingdom ticipate a part only of their payo at a time when its scarcity was ments, as before the discount was so much complained of; ho every allowed only to those who com- so far as it went to the protection pleted their whole payments. of Irland, it was not altogether

During the intervals between the unexceptionable. Earl Moira, hawa several stages of the loan bill, in- ever, contended, on the contrary, telligence had been received by that so far as the nioney went to the minifter that preliminaries of aid the fviten of coercion then peace between the French republic established in that kingdom, it and the emperor, were either fign- would be attended with pernicious ed, or in great forwardness; this consequences. He had no hesitainduced him to state to the com- tion in declaring, that, it that lyftein mittee of supply, on the 5th of was perfitted in, a dismembern ent May, that he fhould move for pro. of the British em;»ire was to be vilion to be made for the repayment feared ; whereas, had conciliatory of the advances which had then measures been adopted, which he been made to the emperor ; but had proposed sometime before, that it was not his intention then to things in that quarter would have make any provilion for further ad- worn a much more promising as vances to be made to his impe. fpect. He begged their lord ships rial majesty, according to the to recollect the drea iful confe. ground which he had for forming quences which had resulted from a his opinion at that moment. similar system of coercion pui sued

Having stated the arguments against America. In the beginmade use of in the commons, for ning of that fatal system Great Briand against granting a further loan tain had begun by ftigmatizing to the emperor, we proceed to state them as rebels, and thence cuenwhat palled upon the subject of the pelled them to become so. Irith loan in the house of lords; but At the end of a defultory debate the arguments enforced in both the loan bill was read a second houses being very similar, a brief time. account of the laiter may fuffice. The next subject of finance was

On the oth of May, on the mo the portion given with the princess tion for the second reading of the royal on her marriage with the hebill for granting to his majesty four- reditary prince of Wirtemburg, teen millions, five hundred thousand On the 3d of May, the chancellor pounds, by way of loan, the earl of the exchequer' introduced into of Suffolk begged leave to ask the house of commons a message question of the secretary of state. from bis majesty, announcing his (lord Grenville), which was, whe- royal consent to a marriage between

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his eldest daughter and his serene incurred the losses which it was his highness the prince of Wirtem- with the house thould make good. burg, and that he did not doubt but He confefied, at the same time, that the house would concur in making the subscribers looked forward for the usual provision for the mar. fome chance of advantage from a riage of the eldest daughter of the favourable turn of affairs. He did royal family of England. The ad. not wish to keep from the view of dress was agreed to nem. con. the committee, that the fubscribers

The message was taken into con- had no siriết ground of right to refideration on the ginot May, when paration, but contended, that they the chancellor of the exchequer could not have looked forward for moved, that the sum of 800,oool. such a heavy loss as that which be granted as a portion to the prin. they had sustained fince the period cefs royal on her marriage. of their second deposit. He stated,

Mr. Curwen said, he would not that, previous to the subscribers oppose the resolution; but could having rade their first depofit, they not help observing, that, confider- fuffer. d a lois by the fall of the ing the heavy burdens which had funds, of full 3 per cent. and, af. been lately imposed upon the people, ter that, the loss they fuftained ahe fnould have been happy if the mounted to 8, 14, and 15 per cent. king had provided for this marriage At that time they stood at a loss of himself. He was as willing as any 14. The circumitances which led other man to express all necessary af- to these lofles were the unfortunate feétion for the throne and for the events which had taken place on different branches of the royal fami- the continent, &c. all of which had ly, but at a moment like the present a sare in depresling the stocks far it would have had a good effect if beyond the natural expectations of bis majesty had come forward and any one at the time that loan was defrayed that expence himself. The made. resolution was then put and carried. On these grounds he thought it

The subscribers to the loan which would be proper to alleviate the prefIr. Pitt obtained near the begin. fure upon the subscribers. He proping of the feftion, commonly call- posed to allow them 51. in every 100l. ed the loyalty loan, having discover in the shape of a long annuity of 75. ed that they were liable to incur 6d. on every 100l. On mature cona confiderable loss from the subse- fideration he found it impoflibie to quent depretfion of the funds, not- frame anydiftin&tion in the allowance withstanding their former preten. between the subscriber and holder; fions to disinterestedness, prevailed the only way, therefore, was to setupon che minister to apply to parlia- tie the general amount, and to leave ment to make them a recompence. it to the holder and the fu fcriber

The chancellor of the exchequer to settle their respective claiins, and accordingly, on the 31st of May, this could only be done by allowmoved the house to that effect. He ing this sum to those only w ho pro. said the persons in whose behalf he duced the original receipts. The applied, could not fail to be re- amount of the whole he stated to garded by the house with a favour- be an annuity of between sixty and able eye, because it was obvious seveaty thousand pounds a year. He that they had been actuated in a concluded with moving the resolugreat degree by a zeal for the pub- tion "That 7s.6d. per cent.longanlic service, and by that zeal had nuity, be granted on the said loan.”

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