§ The House having resolved itself into a Committee on the Public Income and Expenditure, to which the First Report of the Finance Committee, and sundry documents were referred, the Chancellor of the Exchequer read the Resolutions which he had announced it to be his intention to bring forward. They were as follow:—
- 1. "That since the termination of the war, in 1815, the property tax in Great Britain, and other taxes in Great Britain and Ireland, which yielded a revenue of upwards of 18,000,000l. per annum, have expired, or been repealed, or reduced.
- 2. "That by an act passed in the 56th Geo. 3rd, c. 98, the revenues of Great Britain and Ireland were consolidated from the 5th of January, 1817; and that in the year preceding the said consolidation, the nett separate revenue of Ireland was 4,561,853l., and the charge of the funded and unfunded debt of Ireland was 6,446,825l., including therein the sum of 2,438,124l. as the sinking fund, applicable to the reduction of the debt; which charge exceeded the whole nett revenue of Ireland by the sum of 1,885,472l., without affording any provision for the civil list, and other permanent charges, or for the proportion of supplies to be defrayed by that part of the united kingdom; and that no provision has been made by parliament to supply this deficiency.
- 3. "That the supplies to be voted for the present year by parliament, may be "stated at 20,500,000l.
- 4. "That the existing revenue, applicable to the supplies, cannot be estimated at more than 7,000,000l.; leaving the sum of 13,500,000l. to be raised by loan, or other extraordinary resource.
- 5. "That the sinking fund, applicable to the reduction of the national debt, in the present year, may be estimated at about 15,500,000l.; exceeding the above sum necessary to be raised for the service of the year, by about 2,000,000l. only.
- 6. "That to provide for the exigencies of the public service, to make such progressive reduction of the national debt, as may adequately support public credit, and to afford to the country a prospect of future relief from a part of its present burthens, it is absolutely necessary that there should be a clear surplus of the income of the country, beyond the expenditure, of not less than 5,000,000l.; and that, with a view to the attainment of this important object, it is expedient, now, to increase the income of the country by the imposition of taxes, to the amount of three millions per annum."
§ The Resolutions having been laid on the table,
§ Mr. Grenfellunderstood that to-morrow the chancellor of the exchequer was to meet the gentlemen with whom he proposed to contract for the loan. Now, as the resolutions before the House must be connected with the consideration of the loan, he would take it for granted that the right hon. gentleman, at his interview with the contractors, would not commit himself in any way with respect to the sinking fund, so as to anticipate the decision of that House on Monday. He hoped he would be careful to leave it open to the House to provide that the loan to be raised in this or in any other year, should be raised in that way which to them might appear most for the benefit of the country. He was anxious that before Monday nothing should pass between the chancellor of the exchequer and the loan contractors that should fetter that House in any respect, but especially with respect to the application of the sinking fund in diminution of the loan.
The Chancellor of the Exchequersaid, it could not be his object to fetter the judgment of the House. The contractors for the loan, in making their bargain, well knew that all must depend on the decision the House might think it right to come to on the Resolutions which he had brought forward.
§ The House then resumed, and the chairman reported progress.
§ Mr. Humewished to know, whether in the provision for the year, there was any arrangement made to pay the debt due to 866 the East India Company for advances made at Ceylon and other places?
The Chancellor of the Exchequersaid, that no provision was made for the present year. He did not know the state of the account between the government and the East India Company, but he believed no demand was made.
§ Mr. Curwen, seeing the noble lord in his place, was desirous to know whether, in consequence of the petition he had presented from the distressed weavers of Carlisle, any steps had been taken by his Majesty's government to afford those persons the relief they sought? The conduct of those unhappy individuals was most orderly under their distresses. If it was the intention of government to facilitate their emigration to Canada, that was the proper time, as the ships of the season were preparing to go out in ballast, in order to bring home their cargoes of timber.
Lord Castlereaghstated, that the petition was referred to the noble lord at the head of the home department, in order that he might take the pleasure of the Prince Regent upon it. The hon. member must be aware of the difficulties inseparable from such a proposition; but no time would be lost in attending to the application.