amounting to 110,000l. The whole of these duties from the customs will amount to 466,000l. On houses I propose to levy a tax in proportion to the other assessed taxes. The number of servants, for instance, kept in a house, will in general correspond with the style of living and fortunes of the inhabitants. The sum arising from a tax levied in this way, I calculate will amount to 150,000l., and this with an addition to the assessed taxes, I take at 290,000l. From the increased facility with which letters are transmitted to a distance, and the great convenience afforded to correspondence in consequence of recent improvements, something may fairly be added to the present rate of postage. I am of opinion that it will be a more equitable mode to charge by miles than by stages. I also propose to adopt a new regulation with respect to gradations, and with respect to the bye and cross roads. These regulations, with an additional penny to be paid on each letter, will amount to about 250,000l. An additional duty on stage coaches will produce 60,000l. The conveyance of parcels by stage coaches and other vehicles, I propose to subject to a small stamp duty on booking them, which will afford additional security to the conveyance, and I estimate will produce 60,000l. On the conveyance by inland navigation, I propose to make a small addition to the tolls already charged, which I calculate will produce 120,000l. Total amount of new taxes 2,138,000l. Amount of the annuity to be raised 2,110,000l. Making an excess of taxes of 28,000l.

Such are the sources from which I propose to draw the necessary sums to provide for the interest of the enormous expense of the year. In looking at the resources of the country, we have a right to have confidence in the full production of these duties. The permanent revenue for the year, ending 10th October 1796, amounted to 14,012,000. The average produce of those duties for the last three years, was 13,855,000l. On the side of supply, I have taken but three millions to meet the farther extraordinaries for the year 1797, though the extraordinaries for the last year amounted to a much larger sum. Many articles of charge in 1796 will not recur in 1797, and several sums advanced are likely to be repaid.

Another expense of a particular nature has been incurred in the interval of parliament. I allude to the assistance granted

to the Emperor, in order to enable him to carry on his military operations. I am persuaded no man will be of opinion that we ought to have withheld from a brave and faithful ally, the assistance necessary to preserve his independence. That assistance ministers thought proper to grant, not ignorant of the responsibility which they thereby incurred, not forgetting their own duty, nor fearful of the event. They reflected, that in the critical situation of the country it might have been matter of extreme delicacy to have brought forward a public discussion on the propriety of advancing a sum to a foreign court; they were aware of the alarm which might have been excited by any proposition to send a quantity of specie out of the country. It is well known, that a generally received opinion of the mischief which may be attendant on a measure is often productive of the reality. The consequence of discussion might have been to have suggested the grant of a sum too small for the wants of our ally, or too large for the means of the country. On that account ministers declined taking the opinion of parliament. They did not so far yield to their desire of aiding the Emperor, as to step beyond the bounds of prudence, nor did they so tamely shrink from their own responsibility, as to withhold that assistance which they deemed to be essentially important. A sum of about 1,200,000l. has been allotted to his imperial majesty. A future opportunity will be afforded for the discussion of this particular topic. I am convinced that to have withheld the assistance which has been granted would have been to have sacrificed the best hope of this country for bringing the contest to a fortunate issue. It is my intention, if this conduct is found to merit your approbation, humbly and earnestly to claim and solicit your confidence in continuing the same system. I cannot, for the reasons I have already mentioned, propose any specific sum to be granted to his imperial majesty. But, if you think proper to repose in ministers the same confidence in granting such occasional aid as they may see to be necessary, it shall, on their part, be exercised with the same caution. I have therefore proposed a sum of three millions, chiefly with a view of enabling ministers to make advances to our allies, if we shall be compelled to persevere in the war. At the same time, we are not to consider such sums as lost to the coun

try. We have seen too many of those qualities, the inherent companions of good faith and honour, displayed in the recent exertions of his imperial majesty to entertain any suspicions with respect to his conduct. And we may confidently hope for the happiest result in the present contest from his courage and perseverance, fed by our resources and supported by our constancy. On this ground I proposed

the vote of three millions.

The amount of the navy debt up to the 30th Nov. is 15,171,000l., to which add, as the probable sum to the 31st Dec. 1796 1,000,000l.; add to this, the sum of navy debt first funded 4,414,000l., and the amount of the navy debt on the 31st Dec. 1796, will be in all 20,595,000l. On the 31st Dec. 1795, it amounted to 12,362,000l., so that the debt incurred in 1796 is 8,223,000l., I foresaw and provided for 4,000,000l.; it has therefore exceeded my estimate by 4,223,000l.; and it is my duty to explain how this excess has happened. In the first place, the expense of transports exceeded what I had imagined, by no less a sum than 1,300,000l. The expense of foreign transports, demurrage, &c. has amounted to 900,000l. Another head of unforeseen expense was the unprecedented discount to which the navy bills fell, and which operated so injuriously upon commerce and on public circulation. On this head of discount there has been paid 600,000l. Thus, therefore, the committee will see that in three articles only, which it was impossible to anticipate, there has been expended nearly 3,000,000l.; and when they take into their farther consideration the circumstances of our having a new maritime enemy to encounter, and also a threatened invasion to repel, the sum of 4,200,000l. above my calculation will not appear a very remarkable error. The practical use that we must draw from the fact certainly is, not to avoid all estimates, but to make our estimates with as much correctness as possible, and at the same time to claim a large, though discreet, indulgence for unforeseen circumstances.

In stating these estimates, I have endeavoured to bring forward to the view of the committee all the information which they can possibly desire on the subject. It is matter of much congratulation, under the accumulated difficulties arising from a contest, as unexampled in its exertions as in the importance of its object, that we have been able to meet the exigency

of the crisis, and to provide ample resources for every branch of the public service. If after four years of war, not only the permanent revenue is not affected, but even the new taxes are found to be fully productive, if the state of internal industry and domestic improvement exhibits a picture of prosperity, which would amaze incredulity if it did not address itself to observation, we have surely great and solid ground of satisfaction. It is with infinite pleasure I am enabled to state, that the receipts of the last quarter fully confirm the symptoms of our growing prosperity; and if those of the other quarters increase in the same proportion, the exports for the year will amount to thirty millions. This flourishing state of our affairs ought not to lessen our moderation, or abate our desire for peace. But that peace is not worthy of the name which is not calculated to afford internal and external security, to preserve to us the blessings of our constitution, to protect the operations of our industry, and to maintain the dignity of the British character among foreign nations.-Mr. Pitt concluded with moving, "That towards raising the Supply granted to his Majesty, the sum of 18 millions be raised by annuities:"

Mr. Grey said, much as he admired the eloquence with which the right hon. gentleman had adorned the false and deceitful statements he had made, he should be sorry if it could so far blind the House to the duty they owed their constituents, as to induce them to lay on the burthens that were proposed without inquiring how the expense was incurred, and adopting measures by which the extravagance which prevailed in the public expenditure might in future be checked. That night the right hon. gentleman had introduced topics somewhat different from those upon which he had usually insisted. He had now thought proper to adopt, as the criterion of national prosperity, an account of the exports and imports, and upon this proof he had rested the triumphant conclusions he had deduced. Last year this standard had never been mentioned; it was the facility of raising money, it was the low rate of interest at which a loan could be negociated, upon which he had placed the proofs of the flourishing state of our finances. Now, he had not said a word of the plenty of money, or of the low rate of interest. Indeed, with what decency could he have held that language,

when he had it in contemplation to adopt that expedient, against which he had so often declaimed-a forced loan; and when this threat was actually contained in a letter from the right hon. gentleman to the governor of the bank, in order to accelerate the raising of the supplies for the present year. But now, it seemed, it was from a comparison of the imports and ex ports that the extent of our prosperity was to be determined. He had occasion, however, to examine the account alluded to, and he had been told in that House, that the exports and imports did by no means ascertain the real state of our commerce, or support the conclusion of our prosperity. The very account showed, that any inference founded upon it was erroneous. Thirty millions appeared to be the amount of our exports, of which one-fifth was coffee. This was the important document, then, upon which we were to be amused, with lofty statements of our increasing wealth and unimpaired resources! While six millions were stated as the amount of the export of coffee, only two or three were stated as the amount of the imports; and yet, upon such a paper as this, was the true situation of the country to be ascertained! The sum required for the service of the present year was 27,640,000l. Here, however, he must complain of the practice of bringing forward the ways and means before the House could be acquainted with the amount of the expenses of the preceding year. Such a practice was highly unconstitutional: for it prevented the House from exercising its powers of control, and enforcing that economy which it was bound to exercise. He maintained, that every thing of which any estimate could be formed, ought to be included in the statement of the expense of the year, and properly provided for. That so much of the expenditure consisted of sums over which parliament had exercised no control, was a point of serious importance. If they retained any regard for the functions with which they were invested, and that economy which the situation of affairs so much required, the House would adopt some effectual plan to check the extravagance which was practised, and that neglect of their control which marked the public expenditure.

Mr. Fox said:-Notwithstanding the evidence which has been brought forward by my hon. friend, to prove the errone[VOL. XXXII.]

ous manner in which the chancellor of the exchequer has treated the subject of this evening's consideration, I should not be satisfied that I had performed my duty were I to pass over this day without expressing some of those feelings which have been excited by hearing one of the falsest statements of finance that ever was brought forward; calculated merely to delude the people of this country, and accompanied with some political observations which are a libel upon the constitution-observations that I would sooner die than avow; for if the principles conveyed by them are true, the end to which they lead must be, the downfall of this House and all its privileges, and the esta blishment of a dictator upon its ruins, I shall first, however, make some observations on what has fallen from the right hon. gentleman, relative to the subject of finance. It has ever been his boast, that in opening his budget, he has always come forward with plain and candid statements of the full extent of the charges to be made for the current service of the year. Upon more occasions than one, I allow this to be the case; but as to the business of this day, is there in the whole country so miserable a dupe, as to say that a fair statement has this evening been laid before us? It is unnecessary for me to enter into minute details. I wish to call the attention of the committee to principles. By the Consolidation act (27 Geo. 3rd, c. 13, s. 72) it is provided, that a paper shall be laid upon the table of this House, with an account of the annual charges of the public debt, together with the produce of the duties imposed, or of any addition that shall be made to the revenue for the purpose of defraying the increased charges. Now it appears, that since the commencement of the war, the increased charges amount to upwards of four millions, and that taking the amount of taxes, after making allowance for the Spanish armament, the stoppage of the distilleries, and other necessary admissions, there is a deficiency in the provision made for these charges, to the amount of 80,000l., but this does not appear in the paper officially laid before the House. But we are told, that "were it worth while," all this could be explained in a most satisfactory man

ner.

What does the right hon. gentleman mean? Will he dare to lay claim to the character of a fair and candid minister by barely telling us "what signifies what is [ 4 M ]