his debt. Such a claufe would do no more than give to Bank notes the effec of fpecial bail; but it would still be in the power of the creditor to make his debtor depofit the Bank notes in Court, and there would be no fort of interruption to further procefs, or any alteration in the ultimate refult of the fuit. It would give relief to perfons against the feverity of immediate procefs, but without going to the extent of rendering Bank notes a legal tender. The claufe was paffed, and ordered to be added to the Bill. A claufe was then brought up by Mr Fox enacting, “That no further advances in cafh or notes fhould be made from the Bank to Government, as long as the former was reftrained from paying in fpecie." Mr Pitt moved an exception with refpect to those Exchequer bills to the amount of 600,00al. The clause, thus amended, was paffed, and ordered to be added to the Bill. March 31. Mr Sheridan said, that as he had put off the motion he had intended to make this day with regard to any further advances to the Emperor, in order that the House might be in poffeffion of the Report of the Secret Committee, he was defirous to know when that Report would be produced. If there was not a profpect of the Report of the Secret Committee being before the Houfe in a day or two, he certainly fhould not de fer his motion upon this fubject; and in this view he moved, "That there be laid before the Houfe copies of the reprefentations made by the Directors of the Bank, with regard to the advances to the Emperor, fince the firft of January 1795, with the anfwer of his Majefty's Minifters thereto." The Chancellor of the Exchequer faid, that it was impoffible for him to answer the queftion, when the Report of the Secret Committee would be laid before the Houfe. He did not wish to avoid the dif cuffion of the fubject, nor was it poffible for him to avoid it; but ftill he was defirous to meet it fairly and fully. In all the circumftances of the cafe, to make further advances to the Emperor, provided we could fo obtain his cordial cooperation in the common caufe, he confidered as a measure the moft effential to the interefts of the country. Whether it was proper, however, to enter upon the fubject upon partial information, he would leave to the Houfe to determine. He did not oppofe the production of the papers. The motion was then carried. The Report of the Bill for continuing the Order of Council was brought up, read, and agreed to; and on the motion. of the Chancellor of the Exchequer, the House again went into the Committee to confider certain claufes that were to be offered. Mr Pitt faid, that after an intercourse which had taken place between him and Gentlemen from the Bank, and alfo from the great body of the Bankers, he underftood that they approved of the general principal of the clause which he had to offer to the Committee. The fubftance of it was, to allow the Bank to repay, at different periods, in cash, to those who may, at their difcretion, hereafter depofit cafh with them, fo that no more than three-fourths of fuch fum fhould be repaid by the Bank in cash during the continuance of the prefent Bill. This claufe, he apprehended, would be of great advantage to the Bank, and to the Public. After fome obfervations from Mr Dent, Mr Thornton, Mr Sheridan, and Mr Tierney, the clause was agreed to with- ́ out a divifion. Advances to the Emperor. and April 4. Mr Sheridan went over a long field of argument to prove, that the fending more money to the Emperor would continue to deprefs public credit more than it had yet telt; and to fhew the rapid decline of our finances, the low ebb of the credit we yet poffefs, and the want of confidence in Adminiftration (not in this House,) he compared the price of flocks this day with the corref ponding day of laft year-then, 5 per cents were 101-3 per cents, at 691; but to-day, 5 per cents, are 71 three per cents. at 491. These difcouraging and alarming circumftances pointed out the neceffity of restoring the public credit to its former elevation. It was not his wish to infuse a spirit of defpondency into the public mind; but he wished to remove that fyftem of delufion which had proved fo fatal to the Bank of England, who were truftees for the public. good; it would prove alfo, he said, equally deftructive to that Houfe (meaning the Houfe of Commons) if they perfe vered in their implicit confidence in Minifters; for if it still went on confiding, it would not indeed become "the King's Parliament," but the confiding Parlia ment of the Emperor of Germany. Mr April 6. Mr Ellis rofe to make his promised motion refpecting the Slave Trade. It might be fuppofed, he faid, that the measure he intended to offer to the confideration of Parliament, was fome modification of the Abolition Bill; but it was of a directly opposite nature; for he confidered an abolition of the trade, and the measures adopted for that purpose, fo fraught with impolicy, and pregnant with injuftice to individuals-in fhort, fo radically faulty, that no peffible modification of them could be made innoxious. From the civilization of the Negroes in Africa, very falutary effects might be exEd. Mag. July 1797. pected; but the procefs muft neceffarily be flow, and the effects produced be at a very diftant period; and much applaufe was due to those who had embarked in that laudable attempt. The civilization and reformation of morals and manners in the Negroes of the Weft Indies was an object of fill greater importance in the great scheme of ultimate emancipation: for it would be found, that population was always on the decrease among these people; fo that the very existence of the colonies depended on the fupply from Africa; and that decrease of popu lation was attributed, by fome, to a vicious fyftem of morals and manners among the Negroes; by others, to an excefs of labour, and the want of a fupply of proper food; and by others to both caules taken together. After having enforced these topics by the relation of many facts, he moved, "That an humble Addrefs be prefented to his Majesty, requefting that he would give direction to the Governors of his Weft India Islands, to recommend to their respective Councils to adopt such measures as will tend to the natural increafe of the Negroes, and to employ fuch means as will contribute to their moral and religious improvement, fo as gradually to diminish the neceffity of the Slave Trade, and lead to an ultimate Abolition, and fecure to them the protection of the laws." Mr Barham feconded the motion, and fupported the measure in a speech of fome length. Mr Wilberforce oppofed the motion, as falling fhort of what it was his wifh and opinion fhould be adopted. Mr Dudley Ryder moved to amend the motion, by leaving out the words " gradually diminish, and ultimately abolish," which was rejected without a divifion; and the original motion carried by a division of 99 against 63—Majority 36. Bank Bill. April 7. Upon the queftion, That this Bill's duration be to the 24th of June, Sir W. Pulteney role to oppofe it. He entered into a hiftory of the Bank, from its commencement to the prefent hour, and declared himself to be perfectly perfuaded, that all the embarraffments which Government had in money transactions arofe from the monopoly of the Bank of England; from which he formed an opnion, that another Bank ought to be eflablifhed; he did not mean a rival Bank, but a Bank that should iffue its paper, and be capable of paying that paper on demand, demand. He concluded by moving, that the Bill be in force only to the 6th of May, inftead of the 24th of June. Mr Pitt declined entering into the topics the Honourable Baronet had brought forth; but oppofed the Amendment, which was rejected, and the House adjourned. April 10. Mr Pollen role, in conform ity to notice, to fubmit a propofition on the fubject of negociation. In doing this, he difclaimed the idea of being actuated by party-motives. He was impelled by a conviction of the neceffity of terminating the war, or convincing the world, that the profecution of it was owing to the unjuft demands of the enemy. He then took a review of the calamities produced by it, expatiated on the critical fituation of this country, and concluded by moving an Addrefs to his Majefty, reprefenting, "That it appeared, on mature confideration, from the refult of the late negociation, that his Majefty's gracious and benign intentions had been mifconceived by the Government of France, or unexplained to the French nation; the Houle therefore prayed that his Majefty would be pleafed to adopt fuch measures as he may judge most effectual to remove thofe mifconceptions and mifreprefentations relative to the fincerity of his Majefty's Ministers.” Mr Pitt faid, at the prefent conjuncture, the motion could not be productive of any practical benefit to the country, and might prove injurious to fresh nego ciations. The Hon. Gentleman's lamentations on the calamities of war would always prevail, unless war could be wholly excluded; but on every evil the Houfe ought to decide on the comparative evil, without fuffering their judgment to be biaffed by circumftances unavoidable in a conteft founded on juftice, neceffity, and felf-defence.-With respect to the Addrefs itself, it was calculated to encourage the enemy and embarrass fresh chances of general pacification. "I have," faid Mr Pitt, "no diffi. culty in ftating, that his Majefty's Minifters are at this moment about to embrace an opportunity for negociation. In confequence of the determination exprefied by the Emperor, not to enter into any Negociation for Peace, except in concert with Great Britain, fteps have been taken for the renewal of a joint negociation, and his Majefty has determined to fend a confidential perfon to Vienna to concert meafures with the Emperor for a joint negotiation, Under these cir. cumftances he hoped the Hon. Gentleman would not prefs his Motion. Several Members delivered their fentiments, after which a divifion took place Ayes, 291; Noes 85; Majority againft the motion, 206. April 14. The Order of the Day being read for the Houfe to form itfelf into a Committee of Supply, The Chancellor of the Exchequer, after fome previous ftatements, which were remarked upon by Mr Fox, moved, that the fum of 5,000,cool. be granted for the Navy; the fum of 1,100,000l. to discharge Exchequer Bills; and the fum of 2,177,000l. to make good charges on the Confolidated Fund. Various other fums were alfo moved for and voted. The Second Budget. 26. Mr Pitt rofe, and lamented that the various circumftances of unforeseen difficulty made it neceffary for him to propose a very large addition to the expens diture of the year, and confequently to the taxes to be borne by the people; but, difagreeable as the task was, he felt himfelf called upon to undertake it, as it was only by powerful and extraordinary exertions that we could accomplish the object of univerfal defire,-a fafe and permanent peace; and he had the fatisfaction to fay, if the people of this coun try continued to manifeft an unbroken fpirit, and undiminished alacrity in the defence of all that is dear to them, the refources of England were ftill great and ample, and would conduct us through the ftorm with vigour and effect. Mr Pitt then made the following recapitulation of the fums it was neceffary to call for : The Navy ordinaries and ex- £12,661,000 Army extraordinaries, due the 5th of January, and Exchequer Bills on army Future Army extraordina account ries Ordnance Barracks 6,600,000 5,475,000 4,000,000 1,623,000 737,000 929,000 600,000 500,000 200,000 and 350,000 Mifcellaneous fervices Bank advances, 1795 1,054,000 1,370,000 Ditto Already voted 1,170,000 Lottery lidated Fund and various other items, including 13,000,000 of the New Loan. Total of Ways and Means Total of Supply wanted Transfer of Property] The principle 200,000 of taxing transfer of Property had been 3,000,000 admitted in levying a duty on property difpofed of by auction-he therefore fhould propose a tax of four-pence in the pound on all private transfers of property. 2,000,000 16,500,000 42,870,000 42,766,000 104,000 Surplus of Ways and Means 21,703,000 Surplus 2,323,000 The new Loan he had provifionally agreed for to the amount of 18,000,0ċol. (viz.) 13,000,000l. for British fervices, and 1,500,000l. for Irish services, certain; and 3,500,000l. conditionally for the ufe of the Emperor, if the Houfe (as he hoped it would) fhould deem it neceffary to let him borrow that fum in this country. But this would be a fubject for future and feparate difcuffion. He lamented, that in borrowing the money he could not make a better bargain for the Public-but he had done his utmost so to do. The bonus given to the fubfcriber was 41. 175. and the intereft paid by the public 61. 178. per cent. Mr Pitt here took occafion to mention, I Newspapers.] He obferved, that the next tax he had to propofe would give rife to a good deal of difcuffion, not merely verbal. Newfpapers the Minif ter thought proper to confider as a luxúry, and that the tafte for them was so great and general in the country, that it was not likely to be fhaken by any addition to their price. The prefent ftamp duty upon a Newspaper was two-pence, and he propofed to add to this a duty of three half-pence more, which would produce 114,000l. per annum at least. Advertisements.] He would propofe a fill further charge on this article. All Advertisements indiscriminately, whether long of 'fhort, now paid a duty of three fhillings; he fhould therefore now proportion the duty according to their length, or their fituation in a print. Upon the fcale which he fhould lay down in this cafe, he calculated an increase of annual revenue of 20,cool. A conference was fixed with the Lords for Monday, on the fubject of the better promulgation of the Statutes. amount of them round the Metropolis; against his return, as a minor, for Flintwhat proportion they bear to the King-fhire. dom at large it is difficult to ftate; but I do not think that the tolls round the capital amount to a tenth part of the whole kingdom. I fhall, therefore, take the tax at 450,000l. a year, impofing upon all carriages for the public, the fame fum as taken by the Receiver of the Toll. Recapitulation. Mr Pitt then recapitulated the whole of the new taxes as follow. Increafed Confolidated Stamp £320,000 Mr Fox told the Minifter, he could not make his taxes yefterday amount to the fum he had flated them at. It appeared that Mr Pitt, in his fpeech, had forgot to inform the House of the new duties he put in his lift, on Bills of Exchange, and Fire infurances. Mr Fox again rofe, and declared, great as was the fum the Minifter was raifing this year, it was not fufficient to answer the expences. He noticed the great failure in the produce of the wine tax in confequence of the laft duty. 170,000 Duties 114,000 Increased Duty on Advertise £1,284,000 Mr Pitt concluded with returning thanks to the Committee for the atten tion with which he had been heard, and trufted, when the indispensable neceffity for those additional burthens was confidered; when the Houfe reflected on the permanent ftate of the revenue, which, the more it is inveftigated, appeared the more flourishing, he flattered himself, that the temporary emergencies would call forth all the wealth and energy of the kingdom, all the property of private perfons in fupporting their independence. If we act with energy, if we do not fuffer ourselves to be led away by falfe alarms, if we do not diftruft our own cause, we muft fucceed; for the fpirit of the country, if excited, is fuch as muft eventually lead to the certain enjoyment of a fecure and honourable termination of the war. The Refolutions were then put by the Chairman, and agreed to; but upon the Refolution for an increafed duty on Newfpapers, a divifion enfued: Ayes 151-Noes 43-Majority 108. April 27. The Speaker read a letter from Sir Thomas Moftyn, ftating, that he did not intend to oppofe the Petition Mr Wm. Smith obferved, that if the marriage of the Princess Royal took place, there would be a further fum to provide for her dower of 80, or 100,000l. To this was to be added 400,000l. at leaft for the increafed pay of the Seamen, and the additional bonus to the fubfcribers of the Loyalty Loan would amount to about 300,000l. more, making in all a further fum to be provided of 800,cool. Some perfons might think that we had finished the bitter cup, but it would foon appear that we were doomed to drink its very dregs. Mr Pitt made no reply. The question was put, "That the Refolutions be read a fecond time," and carried. The Oppofition Members then rofe and left the Houfe in a body. The Refolutions were read and agreed to, and Bills ordered to be brought in for carrying them into effect. April 29 Mr Pitt prefented the following Meffage from his Majefty: And his Majefty recommends to the Houfe to confider of guaranteeing a Loan on account of his Ally the Emperor, to be applied in making good the advances to the amount of 1,600,000l. |