land as reprefentatives of the minor Barons or Commons, and actually in fe yeral inftances exercised that right. Earl Stanhope, after the counfel had retired from the bar, entered much at large into the fubje&t. He adverted to the proceedings in the parliament of Scotland, which had been much refied upon by the refpondents, in the cafe of the Viscount of Talbot's eldest fon, whofe election for the thire of Rofs had been fet afide by the parliament of ScotJand because his father had been nobili tated; which was inapplicable with the prefent cafe. For, a perfon, whofe father was raifed to a peerage, must neceffarily find himself poffefied of new interefts, and ought, Ike members of the Houfe of Commons accepting cer tain offices in the State, to be again fent back to their conftituents, to afcertain if they should think it proper to conti nue their confidence. The fame inapplicability exified in refpect of Lord Livingstone, as there was a difference between the ton of a man born noble, and of one only nobilitated. After much argument of the fame kind, and obferving that, in antient times, attendance in parliament was a burthen, and that no intermition of it could deftroy the right, moved for reverfing the decree of the Court of Seffion. Lord Thurlow faid, it was for their Lordships to confider how far it would be advifable in their judicial capacity to affume their legislative, and, in di reft oppofition to the practice of 200 years, to reverfe the decree. The Houfe hould rather place itfelf in the fituation of the Court of Seffion, and avoid entering into any decifion repugnant to the law of the land, which could not be founded in right, as, in that cafe, more would be imputed to the decision of one branch of the Legiflature than of the three conjoined. His Lordhip concluded with faying that, on the motion for reverfing this judgement, it beho yed him to vote Not-content. The decree was affirmed without a divifion. In the Commons, the fame day, the Houfe refolved itfelf into a Committee on the treasonable intercourfe bill. The Solicitor General wished to render the bill as agreeable to the ideas which had been fuggefted as was confiftent with its obječt. He meant to confine the operation of the bill to perfons refiding in Great Britain, and that its regulations fhould be carried into ef fect after the 10th of April, 1793. After fome oppofition from Meffrs, Fox, Grey, &c. the report was received, and ordered to be re-committed. H. OF LORDS. Brown's divorce bill went through Committee with feveral amendments. In the Commons, the fame day, the Houfe having refolved ufelf into a Com mittee of Ways and Means, It The Chancellor of the Exchequer stated the particulars of the loan be had entered into for four millions and an half, and to move a refolution thereon. had been thought prudent to raise the whole fum neceffary for the extra fervices of the year by a loan from individuals, rather than to fuffer the commiffoners for liquidating the national debt to apply any of the moneys in their hands to the loan. The terms on which he had concluded the bargain were at 72 for an hundred in three per cent, annuities, which, on four millions and an half, would increafe the capital of the three per cents. 6,250 cool. the interest for which would be £. 187,500 Add one per cent. for reduction of capital 62,500 £.250,000 Having thus flated the particulars of the loan, he admitted that the terms on Making an annual total charge of which it had been railed were disadvan tageous, as 72 was very confiderably below the market price of the three per cents. when the loan was made, He was forry, however, to fay that, after every exertion on his part, he had feen no chance of procuring better terms. Upon a former occafion he had stated it to be his intention, that the commithoners for liquidating the national debt fhould have taken 1,600 cool. of the loan, and that the remainder fhould have been raited from individuals; this intention he had, however, relinquished upon confultation with thofe on whose opinions he relied, apprehending, as the difference in the terms of the maller loan would have been but one per cent. more in favour of the publick than on the larger, that the commiflioners would be enabled to obtain greater public advantages by their daily purchases, which, in cafe the war, as he hoped, should not be protracted to any very great length, they might be the more fpeedily enabled to reduce the Fives. He con cluded cluded by moving, "that it is the opinion of this Committee, that the fum of 4,000,000l. be raised by annuities; and that, for every 72 pounds contributed and paid, the lenders fhould be entitled to 100l, three per cent. Rock, bearing intereft from the 5th of January laft. chair fhall be taken at three before the Eafter recefs, and half after three after Eafter, and private bufinefs hould be over at half after four. The Houfe then went over fome of the claufes of the traiterous correfpondence bill; which, on a divifion, were agreed to by a great majority. H. OF LORDS, April 8. The House met according to adjourn ment, and went into a Committee on the Exchequer-bills and pawnbrokers bills. Sir John Call, from the commiffioners of the crown-lands, prefented fome accounts; which were ordered to lie on the table. In the Commons the fame day, upon the motion of the Chancellor of the Exchequer, Dr. Huntingford, of Winchefter-college, was ordered to preach before the Houfe in St. Margaret's church on the 19th inftant, the Faft-day. Mr. Fox objected to the terms of the loan for the large bonus, on which he faw no reafon to induce him to give it his vote. He reprobated the withholding from the commiffioners the fum before ftated to be raised, 1,600,cool.; by which, in intereft, the publick loft 130,000, and, in the one per cent. for the reduction of the capital, 30,000l., making a total lofs, by not permitting the moneys in the commiffioners' hands to be fo appropriated, of 160,000l. He was averfe to the Right Hon. Gentleman's throwing away any large sum of the public money upon fpeculation in the funds, recollecting as he did, that the Right Hon. Gentleman by his fpeculation twelve months fince, when the Threes were at 96, thought they would rife higher, and enable him the better to reduce the Fours; that he had loft the favourable opportunity which had offered itself, and by which the publick loft an annuity of 300,000l. per annum. He therefore wifhed he had availed himfelf of the money in the hands of the commiffioners instead of speculating in the appropriation of that money with a view to the reduction of the Fives. He was of opinion that the loan might have been railed upon better terms, and that the publick would fuffer lefs by the Mi-ker, fhould be allowed to the magiftrate nifter's trying again to raife one upon before whom the decifion might be made. better than in the House confirming the prefent; he should therefore give it his negative. Mr. S. Thornton faid, the fcarcity of money was now fo great, that he was convinced, if the loan fhould again be opened, better terms could not be obtained. After fome farther converfation, the question was put on the refolution, and the Committee divided, Ayes 74. H. OF Noes 21. LORDS. H. OF LORDS. April 9. Lord Grenville prefented a meffage from his Majefy. The pawnbrokers bill was read the third time, paffed, and fent back to the Commons with two amendments, viz. that the duration of the act should be reduced from 14 to one year; and that reasonable fees, in cafes of contention between the pledger and the pawnbro In the Commons, the fame day, the Chancellor of the Exchequer prefented a meffage from his Majefty; the substance of which was, that his Majefty relied on the zeal and affection of the Houfe to make provifion for such extraordinary and unforeleen expences as may neceffarily be incurred in taking fuch measures as the exigencies of affairs may require in the courfe of the enfuing campaign. The Secretary at War prefented a bill to make regulations for the officers, &c. of the Fencible regiments. r. The traiterous correfpondence bil was read the first time. His Majesty's message (the fame with that prefented to the Commons) was read; when Lord Grenville moved an addrefs of thanks to his Majefty for the fame; which was carried without a divifion. In the Commons, the fame day, the Chancellor of the Exchequer, in a Committee of the whole Houfe, moved, that the fum of 1.500,000l. fhould be voted to his Majefty, for defraying the expences of the current year; and that the fame be raised either by loans or Exchequer-bills. H. OF LORDS. April xi. The Earl of Abingdon prefaced a motion for delaying for five months the proceeding with evidence on the fubject of the African flave-trade, with various obfervations on its general inexpediency, and on its peculiar inexpediency as connected with the new philofophy of France, &c. Earl Stanhope oppofed the motion. The Duke of Clarence entered largely into the fubject; and, among other ob fervations, mentioned that Mr. Wilberforce, the great advocate of this bu finefs in another place, had been made a citizen of France on the fame day with Thomas Paine: after which, his Royal Highness gave his opinion ftrongly against the abolition of the flavetrade, and fupported the motion of the Noble Earl. Lord Grenville fpoke in the higheft terms of relpect towards Mr. Wilberforce; and conceived the House pledged to go on with the enquiry. After a long debate, in which Lord Lauderdale, the Bishop of St. David's, Lord Hawkesbury, and Eari Mansfield, took part, the Eart of Abingdon agreed to withdraw his motion, conceiving it to be against the general fenfe of the Houfe. In the Commons, the fame day, Lord Arden reported from the Grim1by Election Committer, that the election was null and void; and that Mr. Weftley Poole had, by his agents, been guilty of bribery and corruption. In the Commons, the same day, Mr. Sheridan faid, that he had read with aftonishment, in the public prints, a paper, dated April the 5th, and figned Louis C. de Starhemberg and Lord Auckland, and dated from the Hague. He wished to know from his Majesty's Minifters, if that paper was authentic, and if they had received an official document to that effect. The Chancellor of the Exchequer faid, that a paper had been received from Lord Auckland, but he could not an fwer whether or not it was precifely fi milar to that which the Hon. Gentleman had read in the public prints. Mr. Sheridan affirmed, that the paper which he had read "was the most execrable and deteftable ever produced by man." He hoped the Right Hon. Gentleman would not refufe the production of this infamous document; and he had no hesitation in declaring that, if it correfponded with what he had peTheir Lordships proceeded to West- rufed, he intended to move an address H. OF LORDS. doril 12. to his Majefty to difmifs Lord AuckJand from his councils, preparatory to another motion for his impeachment. H. OF LORD S. April 17. In a Committee on the flave-trade, and Counfel being called to the bar, a few preliminary obfervations were made by Mr. Law, who proceeded to ezamine Mr. M les relative to the fate of Negroes on the coaft of Africa, their treatment in the M ddle Paffage, and their fituation in the Weft-India inlands. After the counfel was ordered to withdraw, the Duke of Clarence moved, that a queftion put to the witnefs, which impe ched the juftice and humanity of the West-India planters, might be refcinded. The Bishop of St. David's oppofed the motion, on the principle that the Committee, being in the capacity of jurors, ought to decide upon the evidence produced, ungarbled, and without mutilation. Lord Dynevor was introduced, and took the ufual oaths, and his feat. In the Commons, the fame day, Mr. Sheridan reminded the Houfe, that, on a former night, he had reprefented to the Chancellor of the Exchequer, that he had read a state-paper in the public prints which invoived the character of this country-if what he had read was an exact copy of the memorial, he did not fee that there could be any material objection to it. The Chancellor of the Exchequer, having bestowed much praise on the character and conduct of Lord Auckland, faid, he had no objection to the production of it, nor of the papers to which it referred. An addrefs for that purpose was moved to his Majefty, and agreed to. the Bishop of Gloucester, for his fermon on Friday laft. At the third reading of the traiterous correfpondence bill, Earl Stanhope moved an amendment, the intent of which was, to permit the tranfm thon of intereft and capital for the payment of debts contracted previous to the war. Lord Hawkesbury oppofed it, and entered fomewhat at large into the relative fituation of the trades of Great Britain and France; and contended that any inconveniences individuals might feel were not of fo large a fize as to be put in competition with the advantages that would refult to the publick from the part of the bill aimed at by the Noble Earl's motion. The Earls of Lauderdale and Guilford we: against the bill. The Earl of Abingdon faid, he was born an Englishman, bred an Antigallican, and detefted French freedom because holile to English liberty. He thought the bill both ufeful and neceffary, and would therefore give it his fupport. The Marquis of Lansdowne spoke at length against the bill. The war, was certainly repugnant to the interefts of Great Britain; and, be the iffue what it might, would, he feared, be attended with the moft hurtful confequences to our commerce. Already, his Lordinip was forry to add, had its baneful effects been in a great measure experien ced. Nothing short of neceffity could warrant Minifters involving the nation, in the prefent circumftances of Europe, in war. The Duke of Leeds paffed many elegiums on Minifters, whole conduct, on the occafion before their Lordships, del ferved every praife. The bill was loudly called for by the times, and would be found, he believed, most beneficial in its operations. Lord Grenville had heard nothing to perfuade him to alter the opinion he entertained of the propriety of the bill. The third reading was carried, 51 to 7. In the Commons, the fame day, the Speaker gave notice, that, in confequence of the great prefs of private bufinefs before the Houfe, he would at tend to-morrow at haif after two o' clock. The thanks of the Houfe were voted to Dr. Huntingford, for the fermon he preached before the House on Friday. (To be continued.) 208.-Com 208. Confiderations on the Utility of the National Debt, and on the prefent alarming Crifis; with a fhort Plan of a Mode of Relief, and an Explanation of the folid, inherent Grounds of great National Property that exift in this Country. By Edward King, Efq. F. R. S. and F. A. S. NOT TOTWITHSTANDING the alarm about the national debt has been to frequently founded, in and out of partiament, it appears, by this pamphlet, to be but "a vulgar alarm and appichenfion." "We have found ourfelves, by the unmerited mercy and blefling of Almighty God, notwithstanding this outery, in a ftate of great property and plenty, far beyond that which exifted before the funding fyftem was adopted; the progrefs of the increafe of the national debt has been fimilar to the mathematical progrefs of the hyperbola and its afymtote; they never have met, nor ever can meet, as the increase of the former adds fuch affiftances. and fupports to individuals to pay taxes as will probably for ever prevent the approach of the latter. This may appear, at first fight, to ordinary reafoners, problematical, and even paradoxical; but to mature confideration, to a mind capable of deep and folid reafoning, nothing can furely be plainer, or more confiftent with truth. The who'e of the riches of any country on earth depends upon, and folely confifts in. the produce of the earth, the produce of ingenuity and of the improvement of rational faculties, and the produce of indufiry. But this produce, be it (by the divine gift) great or fmall, is not a quantum of riches, at any time capable of being hoarded up in chefis, as it is acquired, or fuch as can be returned to the earth, and be buried therein; but is a continual annual growth, to be annually ufed; and therefore is, and ought to be, confidered only as the mare intereft of a vaft ideal capital; a capital which, inftead of being called ibe public debt, fhould be rather called the public ability, by a more right ufe of language; a ca pital which never did exit as one great Jump of gold or clav, or as a great trea1ure of money, to be actually fubdivided into a certain number of parts; nor ever ought it fo to exift: but yet, which is not according to the vulgar expreffion, merely in the clouds, but does exift fubftantially and more effectually in the real gifts of God to the country, in the abilities and honeft exertions of multitudes of induftrious perfons. A fub GENT. MAG. Oftober, 1793. ftantial treafure, far better than mere hoards of gold; but a treafure which, ia order to be enjoyed, muft have the opportunity offered of thofe abilities and exertions being fully employed; which they cannot be unless a fufficient quantity of floating intereft, created by, and properly belonging to, what is called the public debt, be kept in continual circu. lation" (pp. 9, 10). "with the Mr. K. is even of opinion, that the national de br may be in future, on fome proper occafion, increased, utmost advantage to the community, in every clafs of life" (p. 23). "A man, who has been accustomed to think me intently on a few fubjects, is inclined to do fo on all. And fuch an habit of intent thinking has long caufed me to view many things in a light fomewhat different from popular apprehenfions and prejudices" (pref. p i.) The real relief propofed at "this very critical era, when the advance of increaling arts and improvements is become at Jaft fo rapid, that the machine of the body politic can fcarce fuflain the violence of the rapidity" (pref. p. ii.), is an extenfion of currency (p. 43). "The Crown, with the advice of the Legiflature, and by its fole proper inftrument, the Bank of England (through whose hands must ever unavoidably pass the greatest part of all perfonal property, which must ever increase far beyond the possibility of the extent of any other property). The Crown can alone give tufficient ftability and fupport to thi moft neceflary part of the vital motion in the body politic; and, for want alone of the fupport of this vital motion and circulation, there is more danger of fuch a mortification and ftagnation as mul bring on diffolution as effectually as a mortification does in the natural body" (p.45). 209. Thoughts upon the Commercial Bill, skewing its Inefficacy in the prejent Injance, and future evil Tendency. THE Bank having, as it is fuppofed, difcourted, in Chrifimas week, to no lefs amount than 4.400,000l. in one day, is here recommended as the propereft fupport of public credit, under the fame guarantee of exchequer bills. It would have difcounted bills to double the a mount of the guarantee; by which meaus there would have ben 10,000,000l. lent to the publick, at the expence of a depofit of only half of the amount they now pay for 5,000,000l. སོར་ཚོམས 210. A |
