guage of the increase of the national revenue, arising on increase of taxation, which they must pressingly feel. He would not hold out that increase as a proof of our prosperity, and the just source of our pride and glory. No: he would address them otherwise; but not so as to impede their alacrity in the public service, or to damp their zeal in the national cause! He would speak to them with consideration and honesty. He would tell them distinctly what their situation was, and what an imperious rival, envious of their prosperity, might shortly cause it to be. He would tell them, that their situation was such as to require of them new privations and additional sacrifices. That they were perhaps about to be called upon to undergo more than they had yet known, for the preservation of all they esteemed and venerated. That the new offerings they were to make to their country, were not rendered necessary merely on the calculation of a bloody and expensive war, but by the impossibility of parting with that system of defensive armament, even in time of what was called peace, which the disposition of our neighbours compelled us to maintain. But what was he to say to the noble lord, and those who thought with him, in saying, that they had never seen a spirit of conciliation on the part of France since the treaty of Amiens, and yet had never made a single declaration before then upon that subject? He would say to them" If you thought so, what have you been doing? What are you now squabbling or negotiating about Malta, when not Malta merely, but every place you have given up to France, or her allies, should have been re tained, except upon a clear and distinct explanation, or a sufficient security?" Do not, said he, practise an imposture upon the public. He did not mean to charge the noble lord as an impostor, for no. thing could be farther from his character; but an unsound statement of the public affairs was the same to the public as an imposture. But while he repelled exaggerated and inflated statements of our means, no man, he could boldly say, had a higher opinion of our real resources; no man despaired less than he did of the sure defiance, and of the sure and exem, plary punishment of the daring aggressor, whose rashness and inveterate enmity might lead him to come here as a foe. But he contended that parliament ought to satisfy the public, and to act towards them upon free and frank grounds. Let him (lord Auckland) carry his calculations as far as he could, he would still find a deficiency of four millions, likely to continue, and with no probable means of putting an end to it. His lordship, after a variety of observations on lord Auckland's calculations, concluded. Lord Grenville, in support of the observations which he then took the liberty of submitting to their lordships, said he should have very little more to do than to refer to the official papers of the chancellor of the exchequer, sanctioned by the noble lord (Auckland), and published to the world by their au thority. Ministers had very unfortunately acted upon these fallacious data, and thence endangered the nation and disgraced themselves. After some observations, chiefly directed against the ministry, his lordship proceeded this official statement, instead of exhibiting a real a real and solid surplus of a million sterling, exhibited a gross deficit of upwards of three millions; but, including certain deductions of annual income, it would exceed four millions; and the total difference between the supposed and actual state of our finances, ac cording to the official documents, amounted to no less a sum than 5,313,000l.! ! ! Lord Grenville then, in refutation of the financial account of the chancellor of the exchequer, so warmly supported by lord Auckland, produced the following statement: STATEMENT OF THE REVENUE.-MR. ADDINGTON'S SUPPOSED PERMA Total expenditure as stated by Mr. Addington on his sup- Instead of the supposed amount stated by Mr. Adding- 10,533,000 $700,000 11,233,000 10,533,000 *This article had cost 900,0001. in the present year, and on an average of the nine years of the last peace, cost near 500,000l. annually, though our navy was then considerably less than it now is, both in the number and size of our ships; and though materials and labour were both much cheaper than at present. It was certain, that the very same repairs which then cost 400,000/. could not now be done for 700,0001. INCOME (SUPPOSED).WAYS AND MEANS AS STATED BY MK, Add lottery, as stated by Mr. Addington Total ways and means as supposed by Mr. Addington Surplus as estimated by Mr. Addington EXPENDITURE (ACTUAL). In order to arrive at the supposed expenditure abovestated, Mr. Addington assumed that the army and navy, as stated in November last, would be farther reduced below that vote, and in the following proportions, viz. Army to be farther reduced (equal to disbanding about 25,000 troops) Navy to be farther reduced (equal to reducing about 18,000 seamen) Total supposed reduction below the vote of No * 800,000 1,540,000 vember last (equal to about 43,000 men) 2,340,000 'Deduct Irish proportion of this sum 137,000 2,203,000 Leaving the British proportion By error (as above) for building in the navy, omitted By supposed reductions not effected 700,000 2,203,000 Total actual expenditure on the establishment voted in November last, and wholly exclusive of the subsequent armament * This sum Mr. Addington stated, p. 29, at one million. 1,062,000 10,533,000 13,436,000 INCOME (ACTUAL).-WAYS AND MEANS AS APPEARING BY LORD Add lottery, which Mr. Addington took at 500,000l. but which should be taken, as stated by Mr. Vansit 497,000 Deduct for interest, &c. on the Austrian loan, charged on the consolidated fund, but omitted in lord Auckland's accounts Total actual ways and means, as appearing by lord Auckland's accounts N. B. Nothing was here allowed for the excess of drawbacks and bounties on sugar, or for excess of sugar bonded. These articles were very properly omitted by Mr. Vansittart, in adding up the total of the revenue. Taken together, they might readily warrant an inference of future di minution in the revenue of this article, rather than any conclusion of its actual increase. But all such speculations were too vague for matters of account. RESULTS. 9,185,000 Real expense of Mr. Addington's supposed establishments 11,233,000 Deduct actual income, as by lord Auckland's account 9,185,000 Actual deficiency of income, below Mr. Addington's supposed establishments 2,048,000 Add surplus, as estimated by Mr. Addington above the same 1,062,000 Total error, even supposing that Mr. Addington's reduc tions had been effected 3,110,000 But till these reductions should take place, of which no immediate prospect was held out, the actual expense of the establishments as voted on Mr. Addington's recommendation in November last, was Deduct actual income as above 13,436,000 9,185,000 But as some articles of receipt to the amount of 150,000l. appeared (said lord Grenville) to be omitted in the noble lord's (Auckland's) accounts; and as it seemed doubtful whether he ought not to have taken credit for the sum annually paid to replace the malt deficiency, which might be about 130,000l. more, it might be more accurate to take the real difference at no more than an annual sum of 5,000,000t. This might certainly be varied in future years by some possible increase of revenue, or diminution of expense; but sound policy required that no credit should be taken for such circumstances, until it could be ascertained that they had really occurred. The only sure mode of avoiding the recurrence of peace loans, was by equalising our actual income with our actual expenditure; and reserving it to parliament to judge hereafter whether any increase in our comparative income (whenever it did take place) should be applied in diminution of taxes, or in accelerating the reduction of debt. As to the expected contribution from India, if it depended upon the noble marquis's exertion, now at the head of our government in that quarter of the world, he would entertain no doubt of seeing it fully realised. His lordship's knowledge of finance was as well known as his great address in many other departments of government. There were, however, two facts on which this expected contribution very much depended. The first was the maintenance of peace in India; the second, the maintenance of peace in Europe. The maintenance of peace, however, in one part of our dominions, was not necessary to command it in the other for although we might enjoy peace in Europe, it could not always follow, that we should have peace at the same time in India; and vice versâ. Lord Westmorland entered into a detailed defence of many parts of the calculations contained in the papers on their lordships' table; and pointed out, in some instances, what clearly appeared to have been erroneous conclusions in the speech of the noble lord (Gren ville). He opposed going into the committee, as no practical advantage was proposed, and as the change of circumstances which had taken place would prevent the ascertainment of which of the calculations was correct; as one would argue, that, had circumstances continued the same, the result would have been favourable, the other party the contrary. The first observation on the paper moved for by the noble lord (Moira), was the surplus of the consolidated fund, which seemed in no way to ascertain the object, as it contained many sums, to the amount of millions, as the payment of arrears of income tax, and the payment of corn bounties, which could not happen again, and therefore formed no ground of judging of the national revenue; that those sums were put there necessarily, in consequence of the order to the officers of revenue, as they formed part of the consolidated fund; and the bounties were necessarily added, not for the purpose of swelling the account, but as the form by which Ireland was to pay her proportion of that expenditure. To the observation, that the chancellor of the exchequer had acted unwisely in estimating the surplus of the consolidated fund for the whole year, upon the three quarters, his lordship observed, that, previous to the war, the surplus of that fund for Christmas quarter, was |