Without pretending to very accurate knowledge of the subject, it appeared to him, that the revenue for the year seemed to answer the estimate that had been given. He considered the supplies to have been thus proposed: To be funded For various India r Extraordinaries of the army £.7,000,000 3,800,000 1,000,000 1,000,000 Corn bounties Surplus of estimate For India company, made a surplus of And adding £.320,000 500,000 10,000,000 That the accounts were accurate, little doubt had been entertained. There could be no pretence for deducting the corn bounties, as the bounties on the importation of corn had not been granted during the century, till the year 1796; and much question was entertained on the policy—at least an act of the legislature must pass before a bounty could be given. Every part of the account was an actual receipt, exThe produce of the old taxes to the 5th of January 1802, cept the estimate on the new taxes, which was taken at 4,800,0001.; and more than 3,800,0001. being either received or in charge, the next quarter was less to make up the account, than the average of the other quarters. If the produce of the present year should bear out the expectations formed of it, he had at least reason to expect a more favourable result in future. was Deducting the taxes of 1801-2, the amount to the 5th of 22,000,000 24,500,000 control. For example, it would not have been in the power of any peace, which even the noble lord (Grenville) himself could have made, to prevent the French at tempting to recover St. Domingo. This attempt on their part necessarily produced an accidental increase of establishment on ours; for arming in that quarter was proportionally augmented; and as the French, for want of merchant-ships, sent out their forces in ships of war, an increase of naval establishment also became necessary. Though he admitted the principle, he thought it unfair to expect, that, in the first year of the peace, revenue and expenditure should find their exact level. There was to be considered the great increase in the prices of all articles relating to providing stores, building of ships, and finding of men. The establishment at present was considerably higher than at any former period. That of 1803 was at least three times as high as that of 1786. He submitted, whether, with a revenue uncertain in its produce and uncertain in its expen diture, diture, having funded last year 96,000,000l. and raised nearly five millions of taxes, it was not better to wait one year, to see what was likely to be the result in both instances, than to lay on heavy taxes that might be unnecessary, and cramp the sources of revenue and injure trade, were there no ground to hope for an increase of revenue. As to establishments, the reduction must be uncertain; but the amount could not be considered as permanent, from various causesthe success of the French in St. Domingo their failure-continental wars-disturbances in France, or a more pacific system. In contemplating this, the noble lord must have the same satisfaction as himself, in observing the effects of the plans of the late chancellor of the exchequer; that as to the present chancellor of the exchequer, he could have neither praise nor blame, as he had only repealed temporary taxes to the amount of about six millions, and laid permanent ones to the amount of about five millions. In this view of the subject, take a calculation of the state of the revenue from the committees, during the last peace. 1803. 6,500,000 1,600,000 1791. 1,748,812 348,000 Discharge of debt The establishment of 1803 was therefore three times as great as that of 1786, and more than double that of 1791. 1786. 1,000,000 Surplus of revenue, including lottery 1803,-10,000,000 Ditto 1786, 4,288,000 5,712,000 fattered themselves it was capable of; but if, as was too likely, it should be otherwise, it ought to be recollected, that, during the last war, this country advanced in prosperity, in every means of strength and riches, in a much greater degree than at any former period of peace. After a little more debate, which took place between lords Pelham, Grenville, and Auckland, the subject was closed by the bishop of St. Asaph (Dr. Horsley), who observed that little had been said in depreciation, of the papers on their lordships' table. Most of the objections, doubtless, applied to what had been delivered in another place, or was contained in the pamphlet so often alluded to. If the papers, then the subject of debate, were thought to be erroneous, the more proper way of proceeding appeared to him, to refer the papers to a proper course of examination, and if found to be erroneous, then to have them corrected. A question, however, occurred to his mindwas this the fit moment for the house to employ itself in such minute examination, when the next day they met they might have to consider objects of the greatest national magnitude, namely, how the union of all parties could be effected, and how we should be enabled to resist the mad ambition, and chastise the bad faith, of him, who, not yet our enemy, he must call him but our detestable friend? -The lord chancellor then put the question, which was negatived without a division. The improvements of the finances were, however, not confined by administration to speculative plans. It is one of the best features of Mr. Addington's administration, that practical means were adopted on every occasion for rendering the national resources more productive; and though little fame at the moment attended the exertion, the good effects will long be experienced of his consummate knowledge and judicious direction of the public revenue. On the 21st of April, the chancellor of the exchequer moved the order of the day for going into a committee, to consider of the propriety of consolidating a variety of acts relative to the public revenue, with a view of securing its more easy and regular collection, and giving greater facilities to trade. The motion being put from the chair, General Gascoyne had strong objections to the motion. By a pas per which had fallen into his hands, it appeared to him, that the lords commissioners of the treasury had it in contemplation to increase the duties of commerce. Now, though the ostensible object of the measure now proposed, was merely to consolidate the existing duties; yet, from the paper alluded to, there were several cases where 3 per cent. was added to the duties now, in existence. In other cases, there was an addition of no less than sixteen per cent. on established rates. These were very strong objections to the measure which the right honourable gentleman had proposed. But, independent of these considerations, there was another which weighed very powerfully on his mind. By this measure the tonnage duty, which had been the subject of so much opposition, against which the table of the house was then loaded with petitions, and which had hitherto been considered merely as a matter of experiment, was proposed to be rendered a permanent tax. It was not his intention to oppose the principle of the measure; but being ignorant of the full effect of the the different alterations to be introduced, and not having received full instructions from his constituents on the subject, he thought it his duty to press on the candour of the right honourable gentleman the propriety of not precipitating the measure at the present mo ment. The chancellor of the exchequer observed, the honourable gentleman, in the course of his observations, had fallen into some mistake, which he judged it necessary to correct. He said that, throughout the whole of the schedule, the object of the measure which he was about to propose was to increase the existing duties. In this idea he was totally mistaken. The object of the proposition was to simplify, to consolidate the revenues arising from the custom-house duties, and introduce such arrangements in the mode of their collection as might in their consequences create some addition to the general revenue of the country. The course pursued would be similar to the plan formed in 1787, at a time when the public mind was not agitated by the question of peace or war. The question being, at length, put from the chair, was carried without a division, and the house accordingly resolved itself into the committee. The chancellor of the exchequer then rose, and shortly stated the nature of the proposition he meant to submit to the committee. He wished it to be clearly understood, that this was only a part of a general system for consolidating, simplifying, and amending the mode of collecting every branch of the public revenue; for removing obstacles which embarrassed its regular and easy collection at present; for laying down such clear and 1803. precise regulations as would be equally useful to those collecting. the revenue, and convenient to those by whom it was paid. The right honourable gentleman stated that, in 1787, all the revenue acts, from the time of William, were consolidated, including particular taxes appropriated to the payment of the interests of loans, contracted in different years. After this consolida tion and appropriation had taken place, the whole of the revenue so consolidated and appropriated received the designation of the consolidated fund. To this fund, the public creditor looked for his security; and after his claims were provided for, the surplus was applied to other parts of the public service. With the advantage of the example of that wise measure, it only remained for him to form the propo sition, which he was about to submit to the committee on the prin ciple. The object of the proposition was to consolidate all the duties raised under 170 acts. After the consolidation had taken place, it was proposed that the fractional parts should be raised to integral sums in some cases, and diminished to integral sums in others. In the book of rates, it was intended that considerable alterations should take place. Some duties, which were at present levied ad valorem, were, by the new schedule, to be levied at a precise rate; others, which were now rated, were henceforth to be ad valorem. It was also intended, that, with the view of securing the regular payment of interest, certain articles which were at present duty free should be submitted to a duty of a very inconsiderable pressure. As to the details of the measure, he did not wish at present to trouble the committee. The schedule would be printed, and members would have an op F portunity |