§ Mr. Tierneywished to know when the Finance Committee were expected to report on the income and expenditure of the country. They were at present occupied with the ordnance estimates of the army, and having disposed of them, they proposed to take up those of the navy, so that he apprehended some weeks must elapse before they would make another report. He could wish to ask the chancellor of the exchequer if he meant to take a loan in the present year, or if he had any intention of funding exchequer bills. It was rumoured that he did not propose to do either, and if this were the fact, the House must see how important it was that they should be made acquainted with the right hon. gentleman's new scheme of finance. That a large sum must in some way be raised for the service of the year could not be disputed, but he thought the House ought not to wait for the report of the committee on estimates not yet referred to them, before they were put in possession of the right hon. gentleman's plan. If they did this, he wished to press upon the House at what a very late period of the session they must enter upon the discussion of the finances of the country.
Mr. D. Gilbertsaid, it was true the committee were at present occupied with the ordnance estimates, but orders, in the mean time, had been given to the proper officers to prepare the estimates of the income and expenditure of the present and next year, to be laid before them. The 51 estimates it was necessary to go through with first, to form the ground-work of their subsequent proceedings, and these before them it would soon be in their power to report to the House.
§ Mr. Tierneysaid, it was clear what must be the result—a great issue of floating securities of some description or other. It was, however, proper that the House should know in what way the chancellor of the exchequer proposed to provide for the service of the year, and above all what amount of exchequer bills had been purchased by the bank, of which they had at present no account.
The Chancellor of the Exchequerwas desirous of expediting by every means in his power the proceedings of the finance committee. It was, however, obvious, while occupied with one particular branch of the inquiry, they could not give their attention to other parts of the subject, so as to be able to report on the probable expenditure and revenue of the country, till the estimates had been successively brought before them, and till they had had an opportunity of examining those persons who were capable of giving them that information on which their report must be grounded. They were now taking the course necessary to put them in possession of such information as would enable them to form an opinion on the subjects referred to.
§ Mr. Tierneyobserved, that those examinations on which their report was to be made had not yet begun. Such was now admitted to be the situation in which matters stood. The House would remember how he had been scouted when this committee was moved for, on his proposing that two committees should be formed instead of one. Had the course he recommended been then pursued, at this day they would have had a general view of the state of the country before them. Now he would defy any man to say, that such a statement could be brought forward for discussion earlier than in the month of June.