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tation of the foreign troops station- necessity for entrusting our defence ed within the kingdom. Though to foreigners, while there may be the new situation of affairs on the great danger to our liberties from the con:inent, and the danger of inva- existence

of an armed force sion from the enemy, have overcome, amongst us, which has no tie conor at least suspended our ancient pecting it with the country, except and constitutional jealousy of a the unlimited obedience which it standing army, there can be no owes to the crowia

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CHAP. IV.

Finance.-Budget.--Loan.-War Taxes.- Tares to provide

for the Interestof the Loan.- Irregularity of bringing forward the Ways and Means before the Army Estimates.- Property Tur.Exemption of His Majesty's funded Property from the Operation of this Tar.-Pig Iron Tax.- Private Brew. ery Tax.-- Increase of Assessed Taxes.-- Assessed Taxes Allowance Bill. Irish Budget.- Regulation Bills. Of the Office of Treasurer of the Ord. nance. Of the Ercise. ---Customs.-Stamp Office. - Post Office. - Office of Surveyor General of IVoods and Forests. -Custom-House Oficer's Bill. Inaudited Public Accounts.-West India Accounts Bill.-- Auditors of Public Accounts Bill.--Abuses in the Barrack Department.-Grants to the Fumily of Lord Nelson.-To Lord Collingwood.-Sir Richard Strachan, and Sir John Duckworth.Royal Family Annuities Bill.--Corn Intercourse Bill.-- American Intercourse Bill.--Tortola Free Port Bill.-Woollen Manufacture Committee.

THE
HE new ministers, in the mea. fear, would be far from secure in

sures of finance, which they their hands, and which some perpursued during this session of par- sons both in and out of parliament, liament, were content with follow- urged them strongly to encroach ing the systems, and executing the up n, they determined religiously plans of their predecessors; and to respect. The system of war unless in shewing greater vigilance taxes, or the plan of raising within and anxiety for the detection and the year a great part of the supplies suppression of abuses, they seemed necessary for the public service, to be unambitious of any higher they took up with zeal, and carried distinction, in this important branch to an extent before unexampled. of their public duty. The period in the prosecution of this object, of the year when they came into so meritorious in itself, and benefi. office, compelled them to adopt, in cial to the country, they had remost instances, the estimates pre- course to a measure of taxation, pared by the former government; which bore peculiarly hard on the and in raising the ways and means middling ranks of life, and on those for the current year, they adhered industrious classes of society, which scrupulously to the principles laid are removed by one degree only down and followed by Mr. Pitt. * from indigence; and as the popu. The sinking fund for the redemp- larity of one branch of the admition of the national debt, which nistration, lay chiefly among permany persons feared, or affected to sons of that description, their con.

duct

was

duct in this particular, excited liament, and to the rigorous meaagainst them a degree of odium sures taken to render them effec. and unpopularity proportioned to tual, that they were enabled at a the former affection and regard en. future period to hold out to the tertained towards them. It seemed country the consolatory assurance, to add to the sufferings of the peo. that on the scale on which they had ple, when the property tax determined to conduct the war, no raised to 10 per cent, and most of additional taxes would be necessary the former exemptions done away, for carrying it on, to whatever pethat a measure so grinding and opriod, however distant, it might be pressive, should proceed from per- prolonged. sias, who had opposed the triple Lord Henry Petty, the new chan. zesment, the income tax, and the cellor of the orchequer, opencd the property tax itself, when first intro. budget on the 28th of March, in a Laced. Like the bird in the fable, speech remarkable for the perspi. which complained less of the sharp- cuity of its statements and cleara 233 of the point that wounded its ness of its arrangement, as well as buon, than of the feather that for the professions of rigid econoanged and directed the arrow, my, and of strict attention to the Baving been drawn from its on reform of abuses which it contained. phion, the people felt their suffer- He began, after some preliminary s aggravated, and exasperated by observations on the arduous task

reitection, that they were im. he had undertaken, by saying, that posed by those, whom they had hi- he should state to the house the therto cherished and supported as amount of the public debt and aeir friends, and whose elevation charges upon it, and the produce of 10 power they considered (no mat. the consolidated fund, at the acces, ter how erroneously) as io some sion of the present ministers to ofdegree their own work, or at least fice, that the people might be fully 25 a consequence of their supposed apprised of their situation, and preFartiality towards them. It must pared for the exertions and sacri. at the same time, in fairness to the fices, which he was compelled to e ministers be acknou ledged, demand from them. He then stated Cat it was owing to the heavy taxes that posed during this session of par. Toe funded debt of Great Britain, not redeemed,

. amounted on the 1st Feb. 1806 to

517,280,561* The redeemed debt by the commissioners, 101,115,802

- transferred to the commissioners by reason of the land tax redeemed, 29,325,7-40 Total of the redeemed debt of Great Britain,

123,47 1,542+ The funded alebt of Ireland, no: redeemed, mounted on the 18th March, 1806, 10

33, 184,052 The Imperial loans not redeemed at the same date,

3,027,051 Tutal of the national debt not redeemed,

555,791,664 Ibe redeemet debt oi Ireland, 13th March, 1806,

2,913,948 The redeemed imperial loan, same date,

642,249 Tiad of de redener debt,

127,027,739

Total

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640,752,103*

27,485,384

7,615,167 23,168,747

Total of the funded debt of Great Britain re.

deemed and unredeemed, Total of the annual charges of the funded debt of

Great Britaip and Ireland, and the imperial loans, Total of the sums annually applicable to the redemp

tion of the national debt, Total of the unfunded debt, 5th Jan. 1806, Total income of the consolidated fund in the year,

ending 5th Jan. 1806, Annual charges on the consolidated fund, as it stood

on the 5th Jan. 1806, Surplus of the consolidated fund applicable to the ge.

neral service of the state, Produce of the war taxes in the year ending 5th Jan.

1806,

33,035,501

29,951,639

3,083,862

13,171,499

In this part of his subject the of stock, and in contracting for noble lord pointed out to the house, Joans, which it enabled the publie that on the 1st of Feb. 1303, the to obtain on better terms. Thereproportion of the sinking fand to fore, independent of considerations the unredeemed debt, was as 1 to of good faith, which pledged the 82, but that on the 1st Feb. 1806, house to adhere to this system, it the proportion was as 1 to 68. was bound to maintain it from po. After this it was unnecessary for him sitive and tried experience of its to enter into any eulogium on the utility. sinking fund, nor to detain the The chancellor of the exchequer house with any panegyric on its for. then proceeded to state the supplies mer essects, or thc hopes that might wanted for 1806, and the ways and be entertained of its future opera- means by which he proposed to protions. The advantages of that fundvide for thein, as followswere very sensibly felt in the prices

Supplies.

Navy, exclusive of the ordnance sea-service,
Army,
Ordnance, including ordnance sea-service,
Miscellaneous,
Arrears of subsidies,

£. 15,281,000

18,500,000 4,718,000 2,170.000 1,000,000

41,669,000 Vote of credit,

2,000,000 Joint charge, England and Ireland,

43,669,000 Total of the national funded debt, redeemed and unredeemed, 682,819,403

Add

Add England's separate charges. East India Company,

1,000,000 Deficiency, malt duty, 1804,

340,000 Do. ways and means, 1805,

1,707,000 laterest on exchequer bills,

1,000,000 To pay off 5 per cents of 1797, due 5th April,

700,000 Do. due 10th October,

500,000

5,247,000

Deduct on Account of Ireland, as below,

48.916,000 5,297,528

43,618,472

On account of England,
Dedact on account of Ireland, 2-17ths

of the above sum of £.43,669,000 5,137,528
Deduct also 2-17ths for civil list and
other charges,

160,000

5,297,528

Ways and Means.
Malt and personal estate duties,
Grants from proceeds of ships captured prior to the

war,

2,750,000

Lottery,

1,000,000

380,000 3,500,000

War taxes,

Surplus of consolidated fund to 5th April, 1807,

19,500,000 Deduct as likely to be outstanding at 5th April, 1807,

1,500,000

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Loan,

18,000,000 18,000,000

43,630,000

The preceding statement was ac- not completed; but there was every companied by various explanatory reason to suppose, that they would observations from the noble lord, not exceed the sum stated in the ac. the most important of which we count of the supplies. shall lay before our readers, in an In the miscellaneous services were abridged form, and in the order in included several important grants in which they are naturally suggested contemplation, such as the provision by the statement itself.

for the family of lord Nelson, and The army estimates had not yet for the remuneration of the seamen been laid before the house, because who had been engaged in the battle the new military arrangements were of Trafalgar.

The

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