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then proceeded to the statement of as far as it was in his power to state
the supplies, and ways and means, them.
for the service of the current year,
WAYS AND MEANs.
Surplus consolidated fund
a Estimate of exchequer bills outstanding on the 31st December 1802 * * - - 14,180,000 To be funded - - - - .67,000,000 To be paid off - - - - 4,281,000 - 11,281,000 - —o 2,899,000 Proposed to be issued on aids, 1804 - - - 11,000,000 * + 13,899,000
The supplies for the current year were partly of a temporary mature, and such as gentlemen would see constituted charges that could not be expected to occur in future years: he meant the corn bounties 524,5731., the exchequer bills of 1801, 2,781,000l., due to the bank 1,500,000l., the residue of the three millions, which he should propose, by a resolution on Monday next, to discharge. There was also a repayment to be made to the East-India company, on account of advances in India to the army and navy. It was probable that there was a demand against the public, for those advances, of one million; perhaps more, he feared not less. sums made together the sum of 5,805,5731. His reason for noticing these occasional charges was, that he thought he expressed the sense of the house and of the country when he said that effectual provision ought to be made for the permanent charges—that they must be provided out of a permanent fund—that we must not compromise our security, by reducing our expenditure to our revenue, but rather raise our revenue to the exigencies of our expenditure. He should, therefore, not be doing what he conceived to be his duty, if he did not ask that house to make up its mind to considerable additions to the permanent charges
of the country. He trusted also that no financial operation would be necessary that year, beyond that which would be called for by the necessity of preventing a glut
of exchequer bills in the market. The object of the motion, of which he had given notice, was to take credit for the growing surplus of the consolidated fund, to the amount of 4,000,000l. His reasons for doing so were shortly these. On the 10th of October 1802, the surplus in the three quarters was 5,580,000l. To this he had a right to add the bounties on corn for half a year, a charge not likely to occur again, 441,000l. To this he must add two quarters of the taxes imposed last session, and not included in that sum. The produce was likely to exceed very considerably the four millions he stated it at ; but he would not estimate the two quarters at more than two millions. From that total he must deduct the sum of 251,000l. received on account of the income tax. These sums produced a total of 7,658,000l. #. produce of the three quarters it might be candid to take at 5,884,000l. ; adding to this a third for the year, the total growing produce cf the consolidated fund would be 7,845,000l. But the committee would observe that he had only taken creditfor 6,500,000l. They would observe also, in the resolution
resolution he should submit to them, that he only asked them to vote the sum of four millions, which was only two hundred thousand pounds more than was actually realised on the 10th of October. His wish in not proposing to vote more than four millions was, to wait till the 5th of April next, when we should be enabled to make the addition to that sum upon surer grounds. Progressive as the increase in the produce of our taxes had been, the produce of the present year greatly exceeded any year that ever was known. The largest amount was that of the year 1792: the growing produce of the consolidated fund was in that year 4,310,000l.—that was the largest year. The estimate of the produce of the present year was nearly double the amount of the year 1792.
It would appear from a paper on the table, that the produce of the permanent taxes for the year ending on the 10th of October 1802, was, of
be said, that if they had been open, the produce of the old taxes would have much exceeded the produce of the year 1799. This statement with reference to the last year, must, he was sure, be satisfactory; it must be equally so with respect to the present year; and if we chose to look forward, we might look forward with greater satisfaction. We had seen that the revenue had largely and progressively increased. He did therefore, notwithstanding the predictions that had been made with such confidence, venture to look forward himself, and to call upon the house to look forward, with confidence and satisfaction, to what might be expected to be the produce of our
taxes in future years. It had not been possible to make up an exact account of our exports and imports during the last year, but he would state the result of the best information he had been able to obtain on the subject. It appeared upon sundry articles of imports in the year 1801, that the amount of imports was 7,642,751. The amount in the year 1802 was 6,123,723., a diminution beyond the preceding year; but it would be recollected that during the former of these periods, there were very great imports of grain, which swelled the amount of that year. The whole amount of the official value of the imports ending the 10th of October 1801, was 15,535,527l.; yet the official value of the imports in the year ending the 10th of October 1802, was 15,664,685l. The point upon which the attention of the committee would be most anxiously fixed, would be the amount of British manufactures exported. The real value of them, not of all, but of all of which an account could be be obtained, was in the quarter ending the 10th of October 1801, 6,812,825l. In the quarter ending the 10th of October 18C2, the value was 7,335,885l. The official value of the whole exports for the year 1801, was 24,473,000l. The official value for the year 1802, was 27,897,297l., an increase of nearly 3,000,000l. He was justified in stating, from a comparison of the exports with former years, that the actual excess of real value exported was not less than eight millions. The amount of the last year was forty-two millions: the amount in the present year would not be less than fifty millions. Some gentlemen had alluded to the interest of the shipping trade and of navigation. }. was not able to state, at present, the actual amount of the tonnage imported and exported. He should be enabled however to lay such an account, to the 5th of January 1803, before the house, after the recess. He had, at present, an account of the number of British and foreign vessels from the 10th of October 1801, to October 10th 1802. In the first year, to October 10th 1801, there were entered inwards, in the port of London, 1762 ships; the amount of the tonnage was 418,631 tons. In the year ending October 10th 1802, there were entered 2459 ships, and the tonnage was 574,700 tons: the number of men employed in the first of these periods was 23,096—in the last period, 33,743. He did, therefore, conceive that he was fully justified in forming that #. which he expressed on a former day, that the shipping and navigation interest had not suffered since the peace. (A question was whispered to Mr. Addington from the opposite side of the house.) An ho
nourable member on the other side: asked him whether he was speakin of British ships. He was ...i to him for the question; for it enabled him to say that he was speaking of British ships alone. He then proceeded to state the number of foreign ships entered inwards: the number in the year ending the 10th of October 1801, was 3885; in the year ending the 10th of October 1802, 1549; the tonnage in the first period was 452,677 tons; in the second, 214,112 tons. Of British ships cleared outwards, the number was, in the year ending the 10th of October 1801, from the port of London 1831; in the year ending the 10th of October 1802, 1933. The amount of the tonnage in the first of these periods was 350,634, and the number of seamen employed 24,070. The amount of the tonnage in the second period was 419,067, and the number of sea, men employed 28,112. The number of foreign ships cleared outwards, for those two years, was nearly in the same proportion. The number in the first year was 3381; in the second year it was reduced to 1688. He was fully aware that it was impossible forhim to add any thing to what he had stated to the committee. He would not attempt to strengthen the impression which arose from the statement of plain and incontrovertible facts. The honourable gentleman next adverted to the sinking fund, the great source of the preservation of our finances, and the means for the liquidation of the national debt. At the establishment of this fund, soon after the conclusion of the war in 1783, the amount of the funded debt of the country was *: le
quacy of our means to our establishment, was this: it was intended to reduce one part of it as soon as the whole force should be raised. The part so intended to be reduced cqnsisted of the out-pensioners employed, in garrisons; a measure which might be effected withoutany diminution of our real strength, because this force might be easily re-assembled, if circumstances should render it expedient. He supposed that there would be a reduction, in such case, of our expenses, of one million. He estimated the ordnance at 778,000l. being higher than it ever was at any preceding period, except du: ring the late war. He estimated the miscellaneous services at 1,000,000l., and the supposed number of sailors double of what it was at any other period of peace. Under all these circumstances, the joint contribution of Great Britain and Ireland would be 12,000,000l. Deducting then 2-17ths for Ireland - 1,356,000 Deducting also the 2-17ths which she had to pay on the 1,200,000l. civil
list - - 141,000 There would remain for
the contribution of
Great Britain 10,503,000 Now to make good the
sum, he took land and
malt - - 2.7%,000
The growing produce of the consolidated fund 7,840,000
Lottery - - 500,000 Making, in the whole, a sum of - 11,090,000
And leaving an excess of nearly five millions beyond the estimate for England, without including the Indian contribution, which he took at 590,000l., and wros