In my laft I evinced for the benefit of the fair bidder, that a proposal to take a Budget for any premium whatever, great or small, without mentioning the price or valuation of the Stocks, and Tickets, would be either a propofal of arrant nonfenfe, or an artifice; and it would alfo bear the infulting femblance of affailing the integrity of the perfon at the head of the Budget. Ther for all premiums being conditional, if we fuppofe a Budget to be compofed of the fame materials and nearly the fame proportion of each as the latt was, and it is tipulated with the buyer, that on cond tion of the Stocks being effimated at the the other, the difference in the value of the fums fo exchanged, will not be much if any. The truth of the inference I mean to draw from thefe obfervations, I fuppofe will be admitted, which is, that in the fale of a Budget, the accruing intereft must be valued and charged, and not the difcount on prompt payment; and whatever difcount may happen to be paid for prompt, it must be confidered as a part of the accruing interet; and confequently that the difcount for prompt payment, canBot with any propriety be made or stated as a component part of the Budget, because the acarving intereft vaftly forpaffes, and worthily precludes it. Neither do I fee how any quef-market price, he is to be allowed a premium tion can properly arife concerning the discount for prompt payment, on the opening of a budget, except this; whether or not any fhould be allowed? For it is a diminution of the amount of the Budget, which feems but of little if any advantage to the buyers, becaule they will receive about the fame value in the accruing intereft; yet it may be very deferv. ing of the deliberation of the fellers. of two per cent, to make to payments of to per cent each, at a month's distance from each other, and the first payment to be made on the 8th day after the contract; and fuppofing the market prices to be thus, 3 per cents, at 57 per cent; the 4 per cents, at 74 per cent; and the Long Annuity at 17 years purchase; the value of the accruing intereft will take its place therein, and be as follows. This is exactly the fame fale as the other, but in this.laft, the prices of the different Stocks ftand ready to be compared with the market and are completely prepared for opinion and determination of their equivalence or fitness, without the leaft trouble of further calculation. If 12,000,000 should be raised on the above terms, the value of the accruing intereft faved, would be 245,1257. But if a Budget which omits or conceals the accruing intereft, thould be opened, to raife the fame nett proceeds; and the Stocks hould be valued at the fame prices, the times and proportion of payments the fime, and with the fame apparent premium of two per cent, the neglect of the accruing intereft therein, would increase taxation or the intereft 13,778/. yearly, and would increase the debt 412,601/. Vel. VI. March, 1784 It will be noted that either a fall in the prices of Stocks, or an increase in the number and time of the payments, will augment the. accruing intereff. I have not fpared any pains to accomplish the faving to the public of the acerving intes reft, imagining it would have to encounter a frong refiftance, and in my am I bave from the fift adhered closely to proof; and frace I undertook its defence. I have vigilantly attended to its progrefs, and find it has gained able patrons. But tho' it may have been twice privately faved fince my first attempt; as I have fhewn, I think by continuing this third time in explanation of it and its value, it will become more manifeft, and my Ready parfuit therein, will be fubfervient to its being fairly and apertly estimated and flated in the opening of the Budget, either by the term accruing intereft, difcount, or fome other deFi до Bomination, which would establish its furety in fucceffive times; for on fuch a precedent the future fecuity of feveral millions feems to depend. Self employed, I commenced this Bofinefs, and thus have perfevered, for the public weal; as a convincing evidence of which, I need only notify, that I have not an atom of intereft with any one great man in the realm; I have not even a vote for a member of the House; and whatever the fervice done may be, this fully explains what can be my explcation. Lancaßer, 24 January, 1784. EX. DIV. Dean Tucker's opinion on the prefent moft interefting Difputes. The Houfe of Lords ought not to be in poffeffion of it; because the conftitution has already made them the Judges in the dernier refort of all Minifters, whenever any complaint or impeachment fhall be brought against them. Were they, therefore, to fit in judgment on fuch perfons for mal-adminiftration, whom they themfelves had chofen and appointed, this, in fact, would be fitting in judgment on their own actions. The House of Commons ought not to. enjoy the privilege of nominating Minifters, or even of recommending them; becaufe they are the conftitutional watchmen of the State, whofe peculiar province it is, to keep the public purfe; and when they make grants out of it, to infpect and examine the application of fuch grants with the utmost care. Confequently they are to accufe, to profecute, and impeach, every refponfible Minifter, whenever they apprehend him to be guilty of abuses or mifmanagement in the difcharge of his office. Hence, therefore, it must follow, that it is repugnant to common fenfe, that the House of Commons fhould be allowed to nominate, or recommend thofe perfons, whom afterwards it may be their duty to profecute. The ideas are repugnant to each other; at least they appear to be fo, in a moral and judicial view; for, were culprits always to have the burty of chufing their own profecutors, what super juftice could be expected from th profecutions? The ar fa tioned in a bock to whi cians pay no regard. fear the lofs of his ftewardship, for having had the appointment of his own friends and recommenders to be his only examiners and accufers. To revert, therefore, to the point from which we fet out-The Crown alone is entrusted by the conftitution with the ap pointment of all its refponfible Minifters. The reafon is obvious. After fuch appointment they are to answer for their conduct to difinterested, impartial profe cutors, and before impartial difinterested judges, in cafe they thould act amiís. The Crown, therefore, ought never to feek previous confent of either House, in the choice of its Minifters: for, provided the choice is fuch, that no natural incapacity, no moral or mental difqualification can be objected, it is enough; the conth tution requires no more; the refponfible Minifter therefore, whoever he be, is legally and conftitutionally appointed, As he thus ftands upon his good beha viour before the Houfe of Commons as his profecutors, and before the House of Peers as his Judges, he ought not to be pre-judged by them either way; that is, he ought to be neither applauded, nor condemned, 'till his own conduct, and his perfonal merit or demerit, in his office, hall have rendered him worthy either of their praise or cenfure. may This, undoubtedly, being the true ftate of the cafe, let us now fee how the Houfe of Commons have acted, and still continue to act, in these matters. Inftead of keeping within the bounds of their duty, as the watchmen of the ftate, and the guardians of the public treafure, they have created for themselves a new office, totally unknown to the constitution, and utterly fubverfive of it, when purfued to all its fatal confequences. Though they do not object to the choice, which his Majef ty has made, as a choice intrinfically bad; nay, though they applaud it, as being in itself a very good one, fuch as they them felves would have made; yet they bring a moft formidable objection against his Majefty for making this choice, without their their previous confent. For it feems a man, who has not the confidence of their Houle, however well qualified himself, ought not to be chofen; and, if chofen, te ought to be compelled to refign, in order to obtain their approbation before his election. In fact, according to this pofiton, no man is eligible 'till the Houfe of Commons have given their fiat. This new deftrine was first broached by a defperate action in the reign of Georges the Third; but a ftrange one furely it is, more range, if pothole, than that famous cafe of Adby and White in the year 1704. If the fe only are to be deemed eligible, who are the declared favourites of the Houfe of Commons; what kind of guards and centinels will our reprefentatives become, a watching over the conduct of their own favourites, their own creatures, Et quis cuftodes cujiodiet ipfos? Befiles, there is another moft alarming confideration, which feems to be too much over-looked. According to these new reguations, no man ought to be made Pme Minifter, ho has not acquired the confidence of the Houfe of Commons. Be it fo: but then, how is this confidence to be obtained?-What mealures is the candidate to purfue, for obtaining an influence fo preponderating as to fecure his election? The true anfwer to which queftion is this, He must make intereft with, he muft ftudy to oblige (foft words in the Grand Entertainment at, and ON Wednesday night the 10th of March, the Prince of Wales gave an entertainment and ball, which is faid to have been one of the grandest spectacles that has been feen in this country for inany years and exhibited a fcene of beauty and magnificence unparelleled. All that the lavish hand of nature, ornamented by the curious tafte of art had made graceful, was affembled and difplayed. The drefies of the ladies were fuperb and fashionable in all the varieites of cultivated fancy. Lady Beauchamp's groupe, confifting of herfelf, her fifters, the Mifs Ingrams, and the Mifs Talbots, were faid to be the most exquifitely beautiful of any in the room. They were all in Spanish dreffes, uniform, of white crape fpangled with gold, and ornamented with precious ftones. They had the fineft effect in the dance. The company were not entirely affenbled before one in the morning. Lady prefent cafe for flattering, bribing, corrupting) as many leading Members as he can, to efpoufe his caufe; he muft, and he will, make large promifes, that as foon as he thall come into power, he will gratify thefe with honours, titles, ftars, and ribbands; thofe with places, penfions, or lucrative jobs, and contracts. In short he muft know every man's price, and act according to this plan of iniquity. Thus by the great innovation now attempted to be introduced into the conftitution, the British empire will be as furcly overturned, and as truly fet to fale to the highest bidder within the walls of the Houfe of Commons, as the Roman empire was by the Pretorian guards, during the declension of that unweildy falling ftate. If rumour is to be credited, the price of feveral capital leaders is already fixed. Whether this be true or falfe, the fyftem tends to corruption, and cannot be fupported on any other principle; a circumftance fufficient to render it deteftable in the eyes of every fincere lover of his country. As fuch, the writer of this paper, who never prostituted his pen to any party, nor wrote against the conviction of his confcience, wifhes now to bear his public teftimony against it. JOSIAH TUCKER. Gloucefter, March 1, 1784. Defcription of Carleton Palace. Southampton and Major St. Leger oficiated in the ceremonics of this meeting. The vifitants who partook of the evening fete, and joined in the dances, were of the first rank and diftin&tion. CARLTON PALACE. The apartment where the Prince ufually dines was lighted up by three gilt van deliers, and a number of elegant grandoles. The pannels are white with cold mouldings, and rich carved work. The cornice, freeze, and pediments, are of white and gold to correfpond with the panaels and doors, which when clofed, are to contrived that they have nor the a pearance of doors. The hangings of this apartment are crimfon damaík. In the niches are placed fome curious marble flats. Two chambers intervene between the dining and ftate room, thefe apartments are noble and rich; but have little to diftinguish them except fix paintings. Ff2 Two 228 Defcription of the Apartments in Carleton Palace. Two of which are ruins and landfcapes by an Italian mafter, Andromeda chained to the rock, and the Annunciation. The entrance to this grand apartment fills the mind with an inexpreffible idea of greatnefs and fplendour. In this the ftate chair of his Highnefs is placed beneath a canopy of crimson velvet, richly trimmed and embroidered. In the center of the canopy on the top, are two fhields, upon which is placed a crown of laurel; near the fhields are eagles head in gold; and at each corner is an helmet emplumé, each helmet on the dexter fide is fupported by a lion, and those on the left by a unicorn. Every minutie of this fuperb performance difcovers the artist who defigned it, to have a wonderful fertility of mind, and had he been a fubject of Lewis the XIVth. he certainly would have been rewarded by a penfion. The state chair is of a gold frame, covered with crimson damask; on each corner of the feat is a lion's head, expreffive of fortitude and ftrength; the feet of the chair have ferpents twining round them, to denote wifdom. Facing the throne appears the helmet of Minerva. Over the windows, the curtains of which are crimson velvet, hung in beautiful order, Glory is reprefented by a St. George fet in a fuperb gloria, in which is interwoven laurel branches. Trophies of war, &c. described and finished in a fuperb manner, are continued the full extent of the windows. In this apartment the pic tures of most of the Royal Family are to be placed, but it contains at prefent only thofe of their Majefties. BALL ROOM. This apartment exhibits a pleafing contraft to the ftate room, and is, from the ftile in which it is laid out, admitted to be as nouvelle as it is beautiful. The pannels are of a beautiful white, framed with a light moulding, which appears to be entwined with foliage and flowers after nature. On each fide of the room are placed five large looking glaffes, the framing of which is light and well in character for a ball room. A very magnificent glafs is placed at one end of the room, of fuch dimenfions, that it reflects almoft every object in the room.-On the other end is an orchestra, elevated about eleven feet from the ground.A painted railing, of blue upon a white ground, forms the gallery of it. At the back a most beautiful crimfon damak drapery appears, hung in a well difpofed ftile, and blended with feftoons of artificial rofes and leaves, that give it the most beautiful relief. Plumes of artificial feathers, fixed in fmall coronets, are placed in proper diftances round the room. The Crowns in which they are placed appear to be fet with jew ellery, reprefenting emeralds fapphires, topazes, and rubies. The ceiling confifts of a white ground, from which is fufpended in a variety of forms, rich feftoons of foliage and floivers, the beauty and order of which no defcription can do justice to, From different meetings of the feftoons, are hung fourteen chryftal luftres, in lo curious a manner, that it can hardly be difcovered by what means they are fupported. On each fide of the foom, rows of feats are placed, for the accommodation of the company in the intervals of the dances. The room adjoining, being the fecond next the garden, is elegant, and perfectly modern. This ferves as an antichamber to a beautiful SALOON. This apartment may be filed the chef d'œuvre, and in every ornament discovers great invention. It is hung with a figur ed lemon fatin. The window curtains, fophas, and chairs are of the fame colour, except fome which are placed in the recefs of the bow window next the garden, and are of gilt cane. The cornices, mouldings, doors, &c. are of extraordinary workmanship. The ceiling is ornamented with emblematical paintings, repre fenting the Graces and Mufes, together with devices; and Jupiter, Mercury, Apollo, and Paris. In the center of the ceiling is a reprefentation of Pegafus. Over the doors are alfo placed paintings. The chimney piece is a beautiful design, and from the or molu ornaments on the marble, it poffeffes an appearance of great richnefs. Two or molu chandeliers are placed here; it is impoffible by expreffion to do juftice to the extraordinary workmanship, as well as defign of these orna ments; they each confift of a palm, branching out in five directions for the reception of lights. A beautiful figure of a rural nymph is reprefented, entwining the ftems of the tree with wreaths of flowers. In the center of the room is * rich chandelier. To fee this apartment, dans fon plus beau jour, it fhould be view ed in the glafs over the chimney-piece. The range of apartments from the Saloon to the Ball-room, when the doors are open, open, formed one of the grandeft fpecta cles that ever was beheld. The fuite of rooms on the story parallel with the garden, were also lighted up, SATURD and from the neatness and fimplicity of. their furniture, hangings, and ornaments, gave great fatisfaction. City Entertainments to Mr. Pitt. ATURDAY February 28th, at three o'clock, a Cominittee of the Common Council waited upon Mr. Pitt at his houte in Berkley Square, where Mr. Alderman Townfend prefented him with the thanks of that Court and the freedom of the City. The Committee being joined by Mr. Pitt and his friends returned to Tem ple Bar, from whence a proceffion was formed to Grocer's Hall in the Poultry, where Mr. Pitt was to be entertained, and of which Company he had accepted the freedom, in the following order: Two Marfhaimeu. Conftables, two and two. Under City Marshal on horseback. Standard Banner. MR. CHANCELLOR PITT. Mr. Pitt's friends, among whom were the Marquis of Carmarthen, and the Lords Temple, Chatham, Sydney, with feveral others of the nobility, clofed the proceffion. As Mr. Pitt's carriage passed the obelik, at the end of Bridge-ft eet, he was faluted by a difcharge of the art flery belonging to the fociety of Lumber Troopers. At the Hall Mr. Chamberlain Wilkes administered to Mr. Pitt the oath ufually taken by all perfons admitted to the free dom of the city, after which he added SIR, I give you joy, and I congratulate the City of London on the important acquififion it has this day made. I reckon it, Sir, among the inoft fortunate events of my life, that I have the honour of being directed by the unanimous resolution, of the Lord Mayor, Aldermen, and Com mon Council, to enroll your name in the archives of this metropolis among thofe Princes and Heroes who have been, the benefactors of our country, and the. friends of mankind, with the glorious de livrer of this nation, with the hero of. Culloden, with the illuftrious ftarefinan,.. from whom you derive your descent. The City of London, Sir; with pride and exultation, now behold revived in the fon thofe folid virtues, thofe thining talents, and powerful eloquence, which they long admired in the father, but above all that generous love of our country, and its divine conftitution, fuperior to the groveling, fordid views of private self intereft, or perfonal ambition. You have, Sir, thus early in your Minifterial: carcer commanded the effeem and admiration of this city and nation, by a noble act of dif intereftedness in favour of the public, for which I believe you fcarcely could find a precedent, nor I fear will you be imitated by any future Minifter. We look up, Sir, to that fuperior abi-. lity, and purity of public virtue, which diftinguish you, for the reformation of many abufes, as well as the fteady protection of our chartered rights, property, and freedom. The Adminiftration of your noble father gave us fecurity at home, carried the glory of this nation to the utmoft height abroad, and extended the bounds of the empire to countries, where the Roman Eagle never few. A late Administration undertook an unjust and wicked war, which difinembered the Empire by depriving us of our most valuable colonies, and has almoft brought us to the brink of bankruptcy. To restore this kingdom to any degree of prafperity and greatnefs, demands the utmost exertions of virtue and ability, with every support both of the Crown and People at large. I hope you will meet with both, and I know how high you fand in the confidence of the public. Much is to be done, but you have youth, capacity, and firmness. It |