§ Mr. Bankesrose pursuant to notice. He was happy after the fate of the two last motions, to be able to state that he had one to make, which was not likely to meet with any opposition. The document for which he 699 was to move, was a very important one, and was very material to the house to have on its table, in order that gentlemen might perceive how far the strength and resources of this country were supported by its own property and means, and whether the property of foreigners in our funds was considerable or insignificant. He had also another view in bringing forward his motion, namely, that it might he brought under the consideration of the house, how far the exemption of the property of foreigners from the property tax was, or was not expedient. He did not mean then to enter into any argument upon the subject, but he was inclined to think that the exception of the property of foreigners from the tax had been founded on a mistake, and that this would be made manifest when the subject should come to be reviewed. He had framed his motion not so much with a view to this Object, as on the precedent of a similar motion that had been made last year. As an indulgence had been granted to foreigners, he was of opinion that they would not be slow in claiming it, and that, therefore, the document he was to call for might be easily prepared. He took this opportunity of asserting that his opinion on this subject remained the same as it was last session; and so far from having been in the slightest degree altered, it had been strengthened by consideration and reflection. He still continued to think that the property of foreigners should be subject to the tax. This was but an act of justice to our own subjects, to shew where the burthen of the tax fell, and could not be construed into a severity upon foreigners, who invested their money in our funds for its security, not for our advantage. If they enjoyed the protection, they ought to contribute in a just proportion to its maintenance. He would not have it understood, however, that he was pledged to bring forward any motion on the subject, because such a proceeding would, in a great degree, depend upon the support it would receive, and principally upon the opposition it would meet with. At the same time he was of opinion, that, though a motion might not lead to a successful result, there was often much advantage derived from the frequent discussions that took place even upon motions that might have been finally unsuccessful. He did not by any means propose to bring forward this question front views hostile to 700 government. But, as he should very soon have an opportunity of stating his opinion on the general question respecting the finances of the country, he should then content himself with moving, "That there be laid before the house an account of the amount of all Exemptions granted to Foreigners, in respect of the duty on Dividends, in the various public funds of Great Britain, and on the duty on Dividends on South Sea and East India stock, under the Property tax, for the year ending Lady Day, 1806."
§ Lord Henry Pettythought it might be more satisfactory to the hon. gent. to have the account made up to a later date, as well as more likely to answer the object he had in view. He was not aware that the account could be furnished to a later date, but would assure the hon. gent. and the house, that if upon enquiry he found that to be the case, the account should be presented. The information called for by the hon. gent. was such, that however he might differ from him as to the result to be drawn front it, he thought it ought, and could not with propriety be kept from the house. As the hon. gent. had with so much candour stated, that the opinion entertained by him last session on this subject remained unaltered, he thought it not amiss to declare, that upon the best reflection he could bestow upon the question, he could see no reason for changing the opinion he had on that occasion expressed of the propriety of granting the exemptions to the property of foreigners in the funds. He was confirmed in the opinion, when he considered the small assistance that could be derived from extending the tax to such property, and the indirect but great mischief that would result from adopting the suggestions of the hon. gent. At the same time he was ready to admit, that whenever the question was brought forward, he should be open to the arguments that he knew would be ably urged by the hon. gent. As to the expediency of bringing forward motions without any prospect of success, and the beneficial consequences of repeated discussions, he trusted that the present session of parliament would afford an instance (the Abolition of the Slave Trade) of the advantages and happy results of discussions upon reiterated motions.—The account was then ordered up to the latest period, to which it could be made out.