Графични страници
PDF файл

the other, the difference in the value of the In my last I evinced for the benefit of the fums so exchanged, will not be much if any. Fair bidder, that a proposal to take a Budget

The truth of the inference I mean to draw for any premium whatever, great or small, ., from these observations, I foppose will be ad without mentioning the price or valuation of mitçed, which is, that in the sale of , Buda che Stocks, and Tickets, would be either a proget, the accrúing intereft must be valued and posal of arrant nonsente, o: an artifice; and charged, and not the discount on prompt pay. it would also bear the intuliing semblance of ment ; and whatever discount may happen to atsailing the integrity of the person at the be paid for prompt, it must be confidered as a head of the Budget. Ther-fore all premiums part of the accruing interet; and consequent being conditional, if we suppose a Budget to ly that the discount for promit paymeni, can

be composed of the same materials and nearly a. with any propriety be made or ftared as a the same proportion of each as the latt was, component part of the Budger, because the ac- 'ånd it is'itipulaitd with the buyer, that on erving intereft vaftly respalies, and worthily cond tion of the Stocks being ettimated at the precludes it. Neither do I fre how any quer market price, he is to be allowed a premium rion can properly arise concerning the discount of two per cent, to make to payments of 10 for prompt payment, on the opening of a per cent each, at a month's distance from each badget, except this; whether or nor any should other, and the first payment to be made on be allowed? For it is a diminution of the a the sib day after ihe contract; and supposing mount of the Budgit, which seems but of the market prices to be thus, i per cents, ac little if any advantage to the buyers, becaule 57 per cent; the 4 per cents, at 74 per cent; they will receive about the same value in the and the Long Annuity at 17 years purchase ; accruiog intereft ; yet


very deserve the value of the accruing interelt will take its ing of the deliberation of the sellers.

place therein, and be as follows. of 3 per cent Stock, at 57 per cent

62 14.0
of 4 per cent Stock, at 74 per cent

o 18 st Long Annuity at 17 years purchase 15 14 13
Valoe of accruing interest

Profit on Tickets

4 0

may be

[ocr errors]

,110 0

27 10

[ocr errors]




Is for each £. 100 money £. 102 Here it is, observed, the accruing interest know the true prices at which the Stocks and does more than pay the whole premium. Annuity are r.ld, than the conjectured pre

Many might think this Budget 'not fated mium ; the method molt satisfactory to there, sufficiently fair and open for the exercise of' is to divert it of all delutive appearance or le: judgment, and might rather with, and very ductive tendency, by faring the geauine and juftly consider it to be much more material io real sale of this Budget, as follows.

ITO o, of 3 per cent at, 55.16 92-30 per cent 61 8 5 10-12th
27 10 0

of 4 per cent ai, 72 9 8 1.3d rer cent 19 18 8 1.12th
6 18 5: Enrig Annuicy at 36 2- 3ds years purchase 15 7 11 10 12th
Value of accruing interest

o 10 3-12th Profit on Tickets



[ocr errors]
[ocr errors]
[ocr errors]

£ 100 This is exactly the same fale as the other, It will be noted that either a fall in the but in this.latt, the prices of the different Stoiks prices of Stocks, or an increale in the number fand ready to be compared with the market and time of the payments, will augmeht the, and are complerely prepared for opinion and accru ng intereft. determination of iheir cquivalence or fitness, I have not spared any pains to accomplina without the lealt trouble of further calcul- the saving to the public of the accruing inte ation.

reft, immagining it would have in encounter a 11 12,000,000) should be raised on the forong resistance, and in my am I have from above terms, the value of the accruing the fi. ft adhered closely to proof; and Grace I intereft saved, would be 245,125i.

underronk its defence, I have vigilanıly atBut if a Budget which nmits or couceals tended to its progress, and find it has gained the accruing interest, should be opened, to able parruns. Boc thu' it may have been raise the Taine nett proceeds ; and the Socks wice privately saved fince my

first attempt ; thould be valued at the lame prices, the times as I have mewn, I think by continuing this and proportion of payments the time, and third time in explanation of it and its value, is with the same apparent premium of two per will become more manifeft; and my teady cent, the neglect of the accruing interest porfuit therein, will be fubfervient to irs betherein, would increase taxation or the inte ing fairly and apertly estimated and flated in rest 13,7781. yearly, and would increase the the opening of the Budget, either by the term debt 412,60sl.

accruing intereft, discount, or some other de. Val. vl. March 1734


[ocr errors]

Hominarinn, which would cllablith its surely need only notify, that I have not an atom of in fucceflive rimes ; for on such a precedens interest with any one great man in the realm ; the future focuity of several millions seems to I have not

eveu a vote for a member of depend.

the Hourc; and whatever the fervice done Self emplnged, I commenced this Bufiness, may be, this fully explains what can be my and thus have perlivered, for the public exirelarion, weal; as a convincing evidence of which, I Lancaster, 24 January, 1784. EX. DIT'.

Dean Tuiker's opinion on the prefent most interesting Difputes. THE *HE Cardinal Point, on which the fear the loss of his stewardship, for having

question between the King and the wafted his master's goods, could be have House of Lords on the one side, and the had the appointment of his oiva friends present Hourfe of Conmong on the other, and recommenders to be his only examinreally hinges, appears to be this :

ers and accufers. The King has, by the conftitution of To revert, therefore, to the point from this country, the sole right of nominating which we fet out—The Crown alone is or appointing the great responsible officers entrusted by the conftitution with the apof the Crown. This is confefled and al. pointment of all its relpon 6 ble Ministers, lowed by all : and, indeed, the appoint. The reason is obvious. After such apInent of such Ministers is a trust, which pointment they are to angiver for the could not be lodged in any hands with so conduct to disintercsed, impartial protemuch safety as with the Crown.

cutors, and before impartial disinterested The House of Lords ought not to be in judges, in cale they thould act amils. possession of it; because the constitution The Crown, therefore, ought never in has already made them the Judges in the seek previous confent of either House, in dernier resort of all Ministers, whenever the choice of its Ministers : for, provided any complaint or iimpeachment shall be the choice is such, that no natural incapu. brought againft thein. Were they, there- city, no moral or mental disqualificatio? fore, to fit in judgment o: such persons cao be obje&ted, it is enough; the contifor mal-administration, whom they them- tution requires no more; the responsible felves had chosen and appointed, this, in Minister therefore, whoever he may

be. fact, would be htting in judgment on js legally and constitutjonally appointed. their own aЕtions.

As he thus ftands upon his good behaThe House of Commons ought not to viour before the House of Commons as enjoy the privilege of nominating Minis- his profecutors, and before the House of ters, or even of recommending them; be- Peers as his Judges, he ought not to be cause they are the conftitutional warchmen pre-judged by them either way; that is, of the State, whofe peculiar province it is, he ought to be neither applauded, not to keep the public purse; and ivhen they condeinoed, 'till his own conduct, and his mako grants out of it, to inspect and cxa personal merit or demerit, in bis office

, mine the application of such grants with Ball have rendered him worthy either of the utmost care. Confequently they are their praise or centure. to accufc, to profecute, and impeach, e Tliis, undoubtedly, being the true ftate very responsible Minister, whenever they of the case, let us now see how the House appreherd him to be guilty of abuses or of Conmons have acted, and itill continue ini(management in the ditcharge of his of to act, in thete matters. Instead of keep fice.

Hence, therefore, it must follow, ing within the bounds of their duty, as that it is repugnant to common finse, thae the watchmen of the state, and the guarthe House of Cominons fhould be allowed dians of the public trcafure, they have to nominate, or recommend thote persons, creared for themselves a new office, totalwhom afterwards it may be their duty to ly unknown to the conftitution, and ut: prosecute. The ideas are repugnani to terly subversive of it, when pursued to all each other; at Icast thev appear to be so, its fatal consequences. Though they do in a moral and judiciat view ; for, were not object to the choice, which his Majes. culprits always to have the city of churo ty has made, as a choice intrinsically bad; ing their own profecuto's, it'

nav, though they applaud it, as being in justice could be expect from?

itself a very good one, such as they themprosecutions. The

clves would have made; yet thev bring tioned in a lioskonar

á molt formidable objection against his cans , y no sedi?.

Majesty for making this choice, without


their previous consent. For it seems a present case for fattering, bribing, corman, who has not the couridence of their ruptiny) as many lcading Members as he Houte; however well qualified himleil, can, to espouse his caule; he must, and ought not to be cholen, and, if choten, he will, make large promises, that as soon fecugnt to be compelled to religo, in or as he thall come wito power, he will grader to obtain their approbation before his rify zhese with honours, titles, stars, and edećtion. In fact, according to this poli sibbands; those with places, pensions, or tivn, no mac is eligible 'till the House of lucrative jobs, and contracts. 'In short he Commms have given their fiat. This must know every inan's price, and act acnew detrine was nirft broached by a dif- cording to this plan of iniquiry. perate action in the reiga of George the Thus by the great innovation now atThird; but a Itrange one surely it is, tempted to be introduced into the conttimore tranze, if pothole, than that famous tution, the Britisha empire will be as surely calc of Alby and White in the year 1704. overtuined, and as truly fit to sale to the If th fe only are to be deemed eligible, i ho highest bidder within the walls of the are the declared favourites of the House House of Commons, as the Roman empire of Coinmons; what kind of guards and was by the Pretorian guards, during the centine's wii! mur reprelevtatives become, declension of that unwildy falling state. ia watching orer the conduct of their own If rumour is to be credited, the price of favourites, itcr ovn crcatures, Et quis several capital Icaders is already fixed. cafedes cujio:titt injos?

Whether this be true or falle, the fyftem Besides, there is another moft alarming tends to corruption, and cannot be supconfideration, which seems to be too much ported on any other principle; a circumover-looked. According to these new re stance sufficient to render it dereftable in gu ations, no man ought to be made the cyes of every fincere lover of his Prime Minister, i ho has not acquired the country. confidence of the lioute of Commons. BeAs fuch, the writer of this paper, who it so: but then, how is this confidence to never prostituted his pen to any party, nos be obtained ?-What ineasures is the can wrote against the conviction of his condidate to purlue, for obtaining an influe science, wishes how to bear his public tefence fo preponderating as to secure his timony against 15. election The true antiver to which quer

JOSIAH TUCKER. tion is this, He must make interest with, Gloucefier, March 1, 1784. he must ftudy to oblige (foft words in the

Grand Entertainment at, and Defcription of Carleton Palace. ON N Wednesday night the roth of Southampton and Major St. Leger ofici

March, the Prince of Wales gave ated in the ceremonics of this ineetins. an entertainment and ball, which is faid The visitants who pai took of the evento have been one of the grandes fpectacles ing fete, and joined in the dances, ve! that has been seen in this country for of the first rank and distinction. Inany years and exhibited a scene of beau CARLTON PALACE. ty and magnificence unparelleled.

The apartment where the Prince ufuala All that the lavish hand of nature, or Jy dines was lighted up by three giit chiare namented by the curious taste of art had deliers, and a number of elegant gian inade graceful, was assembled and dir- doles. The pannels are white with a sold played. The drelies of the ladies were mouldings, and rich carved work. The superb and fashionable in all the varieites cornice, freeze, and pediments, , are of of cultivated fancy. Lady Beauchamp's white and gold to correspond with the groupe, consisting of herfilf, her lifters, panels and doors, which when closed, the Miss Ingrams, and the Miss Talbots, are lo contrired that they have not the air were faid to be the most cxquisitciy beau- pearance of doors. The hangings of this tiful of any in the room. They were all apartment are crimson damalk. In the in Spanish dresses, uniform, of white niches are placed fome curious marble crape spangled with gold, and ornament. Nats. ed with

precious ftones. They had the Two chambers intervene between the finest effect in the dance.

dining and state room,

these apartments The company were not entirelv assein- are noble and rich ; but have little to bled before one in the morning. Lady diftinguilla them except fix paintings.



Two of which are ruins and landscapes hung in a well disposed tile, and blended by an Italian master, Andromeda chained' with feftoons of artificial roles and leaves, to the rock, and the Annunciation. that give it the most beautiful relief.

Plumes of artificial feathers, fixed in finall STATE ROOM.

coronets, are placed in proper diftances The entrance to this grand apartment round the room. The Crowns in which fills the mind with an inexpreffible idea of they are placed appear to be set with jewgreatness and splendour. In this the state ellery, representing emeralds sapphires, chair of his Highness is placed beneath a topazes, and rubies. The ceiling coolists canopy of crimion velvei, richly trimmed of a white ground, from which is fufpend. and embroidered. In the cenier of the ed in a variety of forms, rich feftouns of canopy on the top, are two shields, upon foliage and Aoivers, the beauty and order which is placed a crown of laurel; near of which no description can do juitice to. the Thields are eagles head in gold; and at From different meetings of the feftoons, each corner is an helmet emplumé, cach are hung fourteen chryftal luftres, ia 10 helmet on the dexter side is supported by curious a manner, that it can hardly be a lion, and those on the left by a unicorn. discovered by what means they are supEvery minutiæ of this fuperb performance ported. On each side of the room, rows discovers the artist who designed it, to of seats are placed, for the accommodacion have a wonderful fertility of mind, and of the company in the intervals of the had he been a subject of Lewis the XIVth. dances. he certainly would have been rewarded by The room adjoining, being the second a penfion. The state chair is of a gold next the garden, is elegant, and perfeally frame, covered with crimson damask ; on modern. This serves as an antichamber each corner of the seat is a lion's head, to a beautiful expressive of fortitude and strength; the

SALOON. feet of the chair have serpents twining round them, to denote wildom. Facing This apartment may be filed the chef the throne appears the helmet of Minerva. d'ouvre, and in every ornament discovers Over the windows, the curtains of great invention. It is hung with a figure which are crimfon velvet, hung in beau. ed lemon farin. The window curtains, tiful order, Glory is represented by a St. fophas, and chairs are of the same colour, George set in a fuperb gloria, in which is except some which are placed in the recess interwoven laurel branches. Trophies of of the bow window next the garden, and war, &c. described and finished in a fuperb are of gilt cane. The cornices, mould. manner, are continued the full extent of ings, doors, &c. are of extraordinary the windows. In this apartment the pic. workmanship. The ceiling is ornameni. sures of most of the Royal Family are to ed with emblematical paintings, reprebe placed, but it contains al present only senting the Graces and Muses, together those of their Majesties.

with devices; and Jupiter, Mercury, BALLROOM.

Apollo, and Paris. In the center of the

ceiling is a representation of Pegasus. This apartment exhibits a pleasing con. Over the doors are also placed paintings

. trast to the ftare room, and is, from the The chimney piece is a beautiful design, ftile in which it is laid out, admitted to be and from the or molu ornaments on the as nouvelle as it is beautiful. . The pan. marble, it potefes an appearance of great neis are of a beautiful white, framed with richness. Two or molu chandeliers are a light moulding, which appears to be placed here; it is impossible by expreffion entwined with foliage and flowers after io do justice to the extraordinary work. nature. On each side of the room are manship, as well as design of these orna. placed five large looking glasses, the fram- menes; they each consist of a palm, ing of which is light and well in charac- branching out in five directions for the ter for a ball room. A verv magnificent receptiun of lights. A beautiful figure of glass is placed at one end of the room, of a rural nymph is reprefented, cnewining such dimensions, that it reflects almost the stems of the tree with wrčaths of every obje&t in the room. On the other Aowers. In the center of the room is a end is an orchestra, elevated about eleven rich chandelier.To see this apartment, feet from the ground. A painted rail. dans son plus beau jour, it should be view. ing, of blue upon a white ground, forms ed in the glass over the chimney-piece. elie gallery of it. At the back a most The range of apartmears from the Sabeautiful crimson damak drapery appears, loon to the Ball-room, u hen the door, are


open; formed one of the granden fpccta- and from the neatness and fimplicity of. cles that ever was beheld.

their furniture, hangings, and ornaments, The suite of rooms on the story paral- gave great satisfaction. lel with the garden, were alto lighted up,

City Entertainments to Mr. Pitt. ATURDAY February 28th, ar three directed by the unanimous resolution of o'clock, a Corninittee of the Common the Lord Mayor, Aldermen, and.Com, Council waited' upon Mr. Pittar his hiuse mon Council, to enroll your name in the in Berkley Square, where Mr. Alderman archives of this metrapolis among those Townsend presented him with the thanks Princes and Heroes who have been the of thar Court and the freedom of the benefactors of our country, and the City. The Committee being joined' by friends of mankiad, with the glorious de. Mr. Pitt and his friends returned to Tema livrer of this nation, with che hero of. ple Bar, from whence a proceffion was. Culloden, with the illuftrious starclinan, formed to Grocer's Hall in the Poultry, from whom you derive your defcent. where Mr. Pitt was to be entertained, The City of London, Sir; wiltr pride and of which Company he had accepted and exultation, now behold revived in the freedom, in the following order : the fon those folid virtues, those thining Two Marfbalmeu.

talents, and powerful eloquence, which Conftables, two and tio.

they.long admired in the father, but above: Under City Marshal on horseback. all that generous love of our country, and Standard Banner.

its divine conftitution, lyperior to tho Six' city pendants, two and two; their groveling, fordid views of private self in

train's supported by children, decorated tereft, or personal ambition. You have, with scarlet and white ribbons.

Sir, thus early in your Ministerial: carcer Ciry State Banner.

commanded the effcom and admiration of The colours carried by the city ratermen, this city and nation, by a noble act of disa in scarlet jackets, Glver badges, and interessedness in favour of the public, for scarlet and whire caps.

which I believe you scarcely could findia Artillery Company's music, tivo and two. precedent, nor I fear will you be imitated Committee in their carriages; their ser by any future Minister. vants with blue cocakes:

We look up, Sir, to that superior abi-. A large blue pendant, with the words litv, and purity of public virtue, which

Pitt and the Confiitution. diftinguish you, for the reformation of Upper City Marílial on horseback. many abuses, as well as the steady. proChairinan of Committee

tection of our chartered rights, property, with

and freedom. The Administration of MR. CHANCELLOR Pitt. vour noble father gave us fecurity at Mr. Pitt's friends, ainong whom were the home, carried the glory of this nation to

Marquis of Carmarthen, and the Lords the utmoft height abroad, and extended Temple, Charhanı, Svdnev, with feve- the bounds of the empire to countries, ral orhers of the nobility, closed the where the Roman Eagle never ferv. A proceflion.

late Administration undertook an unjust As Mr. Pile's carriage passed the obe- and wicked war, which dirinembered the lik, at the end of Bridge-street, he was Empire by depriving us of our most valufaluted by a discharge of the are flery able colonies, and has alınost brought us to belonging to the fociety of Lumber the brink of bankruptcy. To restore this Troopers.

kingdom to any degree of prosperity and At the Hall Mr. Chamberlain Wilkes greatness, demaods the utmost exertions of administered to Mr. Pite the oath utually virtue and ability, with every support both taken by all persons admitted to the free- of the Crown and People at large. I hope dom of the city, after which he added you will meet with both, and I know SIR,

how high you Nard in the confidence of I give you joy, and I congratulate the the public. Much is to be done, but you City of London on the important acquifi: have * youth, capacity, and firmness.' It tion it has this day made. I reckon it, Sir, among the inoft fortunate events of * Adolefcens gravis senili judicio. my lite, that I have the honour of being

ficers, Pro P. Sertio.

« ПредишнаНапред »