^K»-^

THE UNIVERSITY

OF Illinois'

LIBRARY

33ZB875V.5

'^WKm

THE

SUBSTANCE

OF A

SPEECHMADE BY

LORD AUCKLAND,

ON MONDAY THE SECOND DAY OF MAY, 1796,

ON THE OCCASION OF A MOTION MADE BY THE

MARQUIS OF LANSDOWN,

A NEW EDITION.

LONDON:

Printed for J, Walter, Charing-Cross,

1796.

The following Papers and Accounts

were laid before th^ Houfe of Lords,

furfuant to their Lordjhips Orders

and Addre[fes of the 2 ijiMarch and

of the 'jth^ 8//6, nth and j^th

April 1796.

ALN account of all the fums of money that

have been ijfued by the Barrack-Majier General,

^c. for the ereBion of Barracks in Great

Britain^ fpecifying the places in which fuch

Barracks have been ereBed^ and the fums ex-

pended upon each, and for providing bedding,

furniture and utetfls for the fame, from the

ifl day of January 1790 to the iji day of De-

cember 1795. Together with an account of all

fums of money due upon the fame account -, and

aljo an ejlimate of the fums necejfary for com-

pleting fuch Barracks as are now building, or

are intended to be built.

B An

( 6 )

An account of all fums of money that have

been ijfued for the ereBion of Barracks by the

Barrack-Majler General in Guernfey and jfer-

fey^ fpecfying the places at 'which fiich Barracks

have been ereBedy and the fums expended upon

each; for providing bedding, furniture and

utenfils for the fame, from the ijl January

1790 to the ijl December 1795.

An account of the niunber of Infantry and

Cavalry for which the feveral Barracks in

Great Britain^ Jerfey and Guernfey are to be

provided.

An account of the number and names of the

feveral ojicers, with their refpeBive falariesy

who have been appointed to fuperintend thefeve-^

ral Barracks

:

—And alfo of all Barrack"

Mafiers who hav}e been appointed in Great Bri"

tain, Jerfey and Guernfey^ together with tbe

date of their appointments.

An account of all fums of money that have

been ijfued by the Board of Ordnance for the

ereBion of Barraqks in Great Britain, Jerfey

and Guernfey, Alfii an eftimate of the fums

necejfary

( 7 )

necejfaryfor the completingfiich as are now building

or intended to be built.

An accou72t of the Extraordinary Expe7ices

of the Army^ incurred and paid by the Fay-

maJier-General of His Majefys Forces, from

the 2^th December 1794, to the 24^/6 December

1795, both inclufive, difinguiJJjing the different

dates when the fame were incurred, and when

paid.

An ejlimate of the Debt of His Majefiys

Navy as it food on the ^ifl December 1795,

together with the intereft payable on the fame.

An account of the unprovided Services be-

longing to the Office of Ordnance, as they food

en the 'TflftDecember 1795.

An account of the amount of 'Treafury War^

rants outfianding on the 10th OBober 1795,

and ^th fannary 1796, diftinguifiing each

period.

An account of the Bills of Exchange ac-

cepted by, or by the direBion, or on the account

of the Lords Commifjioners of His Majefys

B 2 Treafuryy

4

( 8 )

'Treafury^ made payable and paid at the Bank of

England, from the iji of January 1795 to the

317? day of March 1796, difinguifii7tg the dates

thereof by ivhom drawn, to whom payable, and

at what period.

An Account of the I'otal net produce of the

'Taxesfor one year, endmg t^th of January 1796,

difiinguifding the amoiiut of each quarter.

An Account of the Stock of Wine in the hands

of the Traders, as far as the fame can be afcer^

tained on the 2^th February 1795.

An Account of Exchequer Bills outftanding

on the loth OSlober, and the 3 ifl December 1795*

difinguiflding each period, and fating on what

account iffued.

An Account of the Amount of Interefi ificur-

red on Exchequer Bills between the ^th January

lygS ^^^ f^^ 5^^ of January 1796.

An Account of the Amount of Money- ad-

'vanced for the Public Service by the Bank of

England, atid outfanding on the icth OBcber

^795* ^^^ ^^^ 5^^ January 1796, dijtinguif>

ing each period, . i:i*xov.i. .

An

( 9 )

An account JJ^ewing to what purpofes the

Money givenfor the Service of the Navyfor the

year ijg^ was aBually applied̂ and the dates-

ofthefeveralpayments.

An accoimtJhewifig to wJoat purpofes the money

givenfor the Service of the Army for the year

1795 '^^•^ aclnally applied^ and the dates of the

(everalpayments,

Aftatement of the various fervices for which

7noney was appropriated by Parliamenty and

ijfued from the Exchequer) which rejnained un-

fatisfied at Midfummer 1794, dijiinguijhifig the

different heaJj of public fervice, and the fums

due on each.

Aftatement of the various fervices in which

money has been appropriated by Parliament and

iffuedfrom the Rxchequer in the years 1793 ciJid

1794, which remained unfatisfied at Midfummer

179.5, diftinguiftiing the different heads ofpublic

Tervice-i and thefums due upon each.

An account af the 'Total Value of the

Imports into and Exports from Great Bri-

tain, in the Tears 1792, I793> i794» ^795>

diflinguifhing each year^ and alfo diftinguiO^ing

each kingdom,ftate, and colony, front wloence im-

portedand to which exported,

B 3 An

( lo )

An Account of the Total Amount of Bills re^

gijhred on the Coiirfe of the Na^-oy^from the ^iji.

ofDecember lyg^ to the ^ijl of March 1796.

An Account of the T'otal A?nount of Bills re^

gijiered on the Courfe of the ViSliialltng^ from

the i\fi of December 1795 tothe^if of March

1796.

An Account ofall Billsfor Freight ofTranf-

portSi Contingenciesfor that Service, orfor Mif-

ccllaneous Services by order of the Lords of the

Treafury entered on their courfe,from the '^ifl of

December ij()^to the 31/? of March 1796.

An Account of the I'otal Net Produce of the

Taxesfor oneyear, enditig the ^th ofApril 1796,

difiinguijloing each quarter.

An Account of the Income and Charges upon

the Cojifolidated Fu7id for Five garters, ending

on the ^th of April 1796, dijiinguijlmig each

quarter.

An Account of all Sums of Money granted by

Parliamentfj2ce the 2()th October lygSt ^nd ex-

pended before the ^th of April 1796, with a

Statement of the Services to which they were

applied,

Alt

(II )

\An Account poewi7ig how the Money ghefifor

the Service of the Tear 1795 has been difpofed

of'j difiingiiijhing under the federal heads until

the ^th day. ofApril 1 796, and the parts remain-^

ing unfatisfedy with the deficiency thereof

A Copy of the ContraB or ContraSls entered

into in the months of Augufi, September, or OBo^

ber 1795, between the Co^nmifjioners of His Ma-^

jeftys ^ran/port Ofiice, and the Owners of vari^

Qus Eafi India Jhips for conveying T'roops to the

Wefi Indies*

An Accoufit of the Total Value of the Imports

into and Exportsfrom Great Britain in the laji

VTen Tears, difiinguifhing each Tear,

An Account of all Bills payable in November

and December lyg^y drawn on the 'Treafury \

fpecifying by whom drawn, to whom payable^ when

due, and when adlually paid.

B 4 And

( 12 )

And on Monday the 2d May, the Marquis of

Lansdown made thefollowng motion

:

" That as we fee no effe6lual fteps taken

" to realize thofe meafures of reform for

" which the prefent minifters, at their en-

" trance into office, ftood ftrongly pledged

" to the public; or thofe earneflly recom-

" mended in the reports upon the table by

" twQ boards of commiflioners both ap-

" pointed by Parhameht,

"It is incumbent on this Houfe to en-

." quire into the caufe of fo extraordinary

** an omiffion 3 as well as

" Whether any new offices have fmce

** been created ?

" Whether any old falaries have been in-

*' creafed on flight pretences ?

" Whether any falaries have been granted

" for fpecial purpofes, and continued, though

*' the reafons for them have ceafed ?

" Whether any warrants for beneficial

" grants have been dire£ledj and on the

" whole, •

" Whether the public expences have

,*' increafed ' beyond the fupplies annually

" granted by Parliament ?

" This.

( 13 )

" This, which would be a duty incum-

" bent upon Padiament were the exiting

" war ever fo neceiTary, juft, and fuccefsful,

** is become moll urgent and indifpenfible

" in a conteft at once bloody and expenfive

" beyond example, without plan or objecV,

" except fuch obje6ls as the mifcondu6l of

" the war firit created, attended with a

" wafte of money profufe almofi: beyond

" imagination, which has already reduced

'' our trade to a dependence on the very

" warfare which is fundamentally deftroy-

" ing it J and has fo exhaufted our refources

** as to drive us to the wretched expedient

" of reviving taxes which were a few years

" fmce repealed on the ground of thereby

" increafing the revenue, an effe6l which

" that repeal produced, and a policy which

" muft therefore, on the return of peace,

" be again reforted to, and which will con-

** fequently bring with it the neceffity of

" finding new taxes, if new and produdlive

" taxes can be invented in our then ex-

" haufted ftate.

" In a fituation fo alarming, and fo ma-" nifeftly tending to deftroy, the confidence

" of the people in parliament, which (as

*' eveiy refie(5ting man muil have v/ith deep

" concer/j

( H )

" concern obferved) has for fome years

" paft been rapidly on the decHne; it be-

•' hoves Parliament, by a timely revival of"

its ancient energy and integrity, to con-" vince the people that their conftitutional

" guardians are avi^ake to the common*' danger, and are determined to come for-

" ward with fuch firm meafures of public

'' order and reform, as will effe61:ually re-

" lieve the fubjecl, and remedy evils which,

"if ftill fuffered to accumulate, will be paft

"all remedy and muft inevitably terminate

" in public confuhon."

A debate enfuedy In the courfe of 'whkh

Lord Auckland [poke to the folhwhig effeSi

:

My

( 15 )

My Lords,

I came to the Houfe this day, difpoied

and not unprepared (as far as long pra6lkc

and experience in fuch fubje(5ls, with the

aid of ample materials and fome induftry,

could prepare me) to enter at large into the

difculTion of the expences of the prefent

war, and of the debts, revenues, and re-

fources of the kingdom. I certainly was

not fmguiar in fuppofmg that the mafs of

papers coUefted upon your table was meant

for fuch a difculTion.

The noble Marquis however, has thought

proper to confine himfelf, for the prefent, to

obfervations refpefting the redu6lion of cer-

tain offices, the mode of paying the army,

the fimxplifying of loans, the abolition of

patent places in tlie cuftoms, tlie new bar-

racks, the appointment of a tranfport board,

and a prefent of money fuppofed to have

been made to the Dey of Algiers.

I would not intentionally undervalue pro-

pofitions coming from fo high a quarter,

and liable in their nature to be confidered as

fit objedts for the attention of Parliament.

But furely, my Lords, when the points al-

luded to are compared with the extennve

interells and expe<5lations of the day, I may

be

( i6 )

be permitted, with all due rcfpe«5l to the

noble Mover, to borrow an expreflion of his

own, and to fay, that he has called upon

us " to make a great account of fmall

«* matters."

Be this however as it may ; I do not mean

to enter into any of the particulars in quef-

tion. Whether they are matters of charge,

or of enquiry, and whatever may be their

intrinfic value and importance, they have

already been forcibly and fully anfwered by

the noble Lord who fpoke fecond in the

debate.

The noble Marquis cloied his fpeech with a

wifh, that all difculTion of the finances, and of

the general fituation of the kingdom, might be

poftponed to a fubfequent day. I could hav^

acceded to that intimation readily and with-^

out referve, if the noble Marquis had con-»

fined his motion to the fame limits within

which he confined his fpeech.

But, my Lords, there are expreflions in

that motion by which I feel myfelf irrefifti^

bly impelled to fland forward, and to call

for your moil ferious attention.

It is propofed to us to declare :" That

" ouf trade is reduced to a dependence on" the very warfare which is fundamentally

" dellroying

( 17 )

" deftroying it, and has fo exhaufted our re-

*' fources as to drive us to the wretched ex-

*' pedient of reviving taxes which were a few

" years fince repealed, on the ground of

*' thereby increahng the revenue ; an effect

** which that repeal produced, and a policy

** which muft therefore again be reforted to

" on the return of peace ^ and which will

** confequently bring with it the necefTity of

*« finding new taxes, if new and produftive

<* taxes can be invented in our then exhauft-

«* ed flate.

" That in a fituatlon fo alarming, and fo

*' manifellly tending to deftroy the confidence

" of the people in Parliament," " it behoves

" Parliament by a timely revival of its an-

^- cient energy and integrity, to convince the

*' people, &c."

I will not quarrel, my Lords, with the

exhortation to " a timely revival of

" your ancient energy and integrity :

**

The deep refpecl fo juftly felt towards

you by the whole Britifh empire places

you in a point of view paramount

to fuch infmuations. I am only concerned

that the noble Marquis, pofTefling ^in fo

eminent a degree all the powers of language,

fhould have been hurried into the adoption

of

( i8 )

of a phrafe, which, on better reflection, he

muft difapprove.

.But, my Lords, I ftrongly and from my

heart object'to the other expreffions, as pur-

porting to convey to the Public (and that

too without any proof or previous enquiry)

a parhamentary declaration, grofsly injurious

to ourfelves, depreciating the national credit,

difheartening to the nation, and encour-a-

ging to our enemies. I feel it a facred duty

incumbent on me to refift, as far as Godhas given me faculties to refift, the tendency

and mifchief of fuch an imprefTion.

Under the influence of this fentiment,

it fhall be my endeavour to ftate our ac-

£hial fituation to your Lordfliips. It

would not be my vv^iih, even if I had

powers to accomplifh it, to lead you into

opinions more favourable than the truth

will jufcify: but I am ftrongly delirous'

that our fituation fnould be feen as it really

is; and I embrace, with earneftnefs, the

occafion of exhibiting it in a fair and full

point of view.—-In the difcharge of a duty

fo important, I fliall abftain from details

and minute calculations which might fatigue

the attention. If the accuracy of my por-

tions fhould be doubted, I Ihall at any time

be

( 19 )

be ready to repeat them, to explain them,

and to produce the documents on which they

are grounded.

I ihali accordingly read to your Lordfhips

one of the papers which I had prepared for

the expefled debate of this day *. "A com-" parative View of certain public Circum-" fiances in the refpeftive Periods of 1783-4" and 1795-6.;" fubmitting upon each article

flich remaiks as I conceive to be material;

and mentioning the particulars diftinftly,

that a note may be taken of them if it

fhould be wifhed.

This fubjecl has been rendered in fome de-

gree familiar not only to your Lordfhips, but

to the whole country, bythe diftin6l and nume-

rous ftatements of the public accounts, which

during the laft ten years, have been brought

forward and printed, with a candour and li-^

berality beyond all example in the hillory

of Parliament.

I have felecled the year 1783, as having

been the firfl of the lafl peace 5 and cer-

tainly I take -no advantage in comparing

with a firft year of peace the fourth year of

an unfinirned war. It is the epoch from

See the Paper annexed.

which

( 20 )

which the trade, revenue and refources of

this country have rifen, gradually and pro-

greflively, to„ their prefent unparallelled

height, v^ithout any interruption from the

circumllances, magnitude, alarms, and ex-

pences of the prefent war : a war, my Lords,

fi^r more dangerous than that which wefuf-

tained againft the united efforts of France,

Spain, Holland, and North America : a war in

which our enemies are entirely exhaufting

their capital, and expending even the whole

value of their foil; and to which they have

facrificed their finance, commerce and popu-

lation, in the vain hope of finding the meansof our ruin.

The firfl article relates to the public funds

:

** The price of the 3 per cent, confols.

"January 27, 1783, was - £. S5" Ditto, May 2, 1796, - - 66

Such is the difference of the price of

funded property, in favour of the pre-

fent period, in a country defcribed by the

motion to be reduced in trade, exhaufled

in refources, without confidence in its go-

vernment, and approaching to public con-

fufion. In the firft period (of peace)

the price was 55; in the latter period (of

war) the price is 66. In contemplating

this

( 21 )

tins difterence, we fhall derive additional fl-

tisfaftion from recolle61ing that it has

arifen notwithftanding the preffure refulting

from an addition of at leaft no millions,

which have been funded fnice the firfl period,

for difcharging the out-ftanding debts of the

laft war, and for providing for the expences

of the prefent war.

The next article to which I requefl your

Lordfhips attention is the comparative price

of India flock

:

" The price of India ilock,

" January 27, 1784, was - X- ^21

"Ditto, May 2, 1796, ->C- 209

It is no contradi6tion to the conclufion

which I mean to draw from the difference of

thofe prices, that the dividends of the company

have been raifed fince the firfl: period. If the

dividends had not refled on the folid ground

of great and increafmg profperity, they would

only have contributed, after a certain interval,

to deprefs the ftock inflead of raifuig it.

I proceed to the confideration ©f our im-

ports and exports.

« The totsl value of imports in 1783, ^, 13,325>O0O

*' Ditto in 1795 (including prixe goods to

« the amount of ^. 907,000), - £. 22,175,000

C ' I admit

( « )

I admit that the documents which purport

to give vakiations of our imports and exports

are necellarily imperfe6l, and particularly io

with refpe6l to the latter. Still however they

are fufficient for the prefent objedls of com-

parifon, being drawn from the fame ilata

equally applied to the different periods meant

to be compared. Befides, it is well knownthat the inaccuracy of thofe accounts, fo far

as it prevails, confifts chiefly in ftating the

general bulk of articles below their real value.

The effect, therefore, of that inaccuracy,

operating here upon the larger quantities*

tends to diminifh, and not to fwell, the ba-

lance of the valuations which I am oppofmg

to each other.

" The total of exports, in 1 78 3 , ;(^. 1 4,74 1 ,000

" Ditto in 1795, - - >r. 27,270,000

I take the occafion to remark, that this

great increafe in our export trade has been

almoll: regularly progreflive, from 1783 to

the prefent year. An ignorance of that cir-

cumftance, in the minds of fome obfervers,

led to ffrange conje6lures, when the valua-

tion of the lafl: year's exports was made public.

The fupply of cloathing and provifions to our

army was affigned as having contributed to

fwell

• ( 23 )

fwell the account J but thofe articles were

fent in the King's Tranfports, which take

no clearances from the Cuftom-houfes 5 and

confequently, whatever may have been their

value, it formed no part of the total be-

fore ftated. It was a notion equally ill-

founded, that bullion was included. As f^r

as I have been able to analyfe the account, I

can venture to fay, that it is compofed of a

proportionable increafe in the feveral articles

of produce, manufafture, and foreign mer-

chandize, which ordinarily compofe oUr ex-

port trade i

And here alfo I fnould remark, that the

real value of the Britifn manufa6lures ex-

ported, in general greatly exceeds the valuation

ftated in the Infpe^lor-General's accounts.

Your Lordfliips will have obferved, in the

papers upon your table, that the exports to

Germany rofe lad year to the value of eight

miUions fterUng. This alone is a ftrong

inftance of our increafing commerce. For

though it mull happen, for obvious reafons,

that in all wars our exports increafe to coun-

tries in the neighbourhood of the enemy,

that circumftaiice will not account for the

great rife in the exports to Germany: the

rife is much more than equal to the average

C 2 annual

( 24 )

annual valuation of our whole export trade,

in time of peace, to Holland, Flanders, and

France, colle^lively.

I am next to fubmit to your Lordfliips the

mod important criterion of our commercial

profperity j I mean the comparative exports

of Britifli manufactures, and alfo of foreign

produce.

" Value of Britifh manufadures

" exported in 1783, - /^.io,409,ooo

" Ditto in 1795, - X-i6'526,ooo

Here then we find, in the laft year (a

period of war), compared with 1783 (a pe-

riod of peace), an increafe, to the amount

of fix millions fterling, in the exports of

Britifh manufa6lures ; and this from a coun-

try ftated, in the motion, to be exhaufted in

its refources, and driven to " wretched expe-

dients 1"

" Foreign produce exported in

" 1783, - -X. 4,332,000

" Ditto in 1795, -jC- 10,743,000

Here alfo we fee an increafe to the amount

of fix millions fterling. I admit that it mayhave refulted in part from the ruin of the

commerce of our enemies, and from the pof-

feflions of which we have deprived them;

but

( 25 )

but it is not the lefs an inftance of our

comparative profperity.

In the increafe of our imports we find

a remarkable proof of the flourifhing flate of

of a principal manufaclure :

" Cotton wool imported on the lbs.

" average of five years in 1783, 7,000,000" Ditto - - in 1795, 28,000,000

And here it ihould be obferved, that though

our cotton manufaflures have made and are

making fo rapid a progrefs, it appears by the

moft fatisfadlory evidence, both from the in-

terior of the kingdom, and from the Cuftom-

houfe, that the woollen, iron, potteiy and

other principal trades, are greatly increafed,

for the purpofes both of home confumption

and of exportation i and that the filk mia-

nufa<SLory, which it has been apprehended

might be annihilated by its rival, the cotton,

has not fallen oif.

" In 1783, the rawfilk imported lbs.

" was _ - - - 675,000" In 1794, it was - - 683,000

Our importation of thrown filk has in like

manner had a fmall increafe. Its annual

amount, after dedu6ling the quantity ex-

ported, is on the average of the lall live

years about 38 1,000 //^j.

C 3 I proceed

( 26 )

I proceed to another article of comparifon

which I bring forwards with pecuUar fatis-

faclion, as connedling the profperity and in-

creafe of our manufactures, with the prof-

perity and increafe of thofe immenfe poffef-

fions in the Eaft, to which every day is adding

fome new fecurity and fome new and perma-

nent extenfion.

" V'alue of Britilh Merchandize

" exported to the Eafl Indies

" in 1783, - - - ^. 621,921

** Ditto in 1795, - - jT. 2,229,444

I am led by the fubje6t lafl mentioned to

ftate, in the next place, the net revenues of

the Eait India Company above the charges.

Having been the Chairman of the Com-mittee appointed to inquire into the affairs

of the Eaft India Company in 1784, I maybe allowed to fay, with fome degree of con-

fidence, that at that period the Company

pofTeffed no net revenue above the charges

;

on the contrary, that the charges exceeded the

revenue. At prefent, by a fyftem of accounts

annually laid before Parliament, the accuracy

of which is fully efbabl ifliedby the experience of

feveral years 3" the net revenues of the diffe^

y rent fettlem.ents of the Eafl IndiaCompany

J! ^mounted in 1795 to about ^.2,000,000.

!!The

( 27 )

*^ The amount of Sales for Eaft

" India Company's goods for

'1783, was - - >C-3'363>8oo

"Ditto for 1795, --?I

jT. 7,718,265

I muft now, my Lords, requefl your at-

tention to the profperous ftatements of our

navigation.

" Total number of Britifh Ships which entered inwards

" at the Ports of Great Britain, or cleared outwards."

INWARDS. OUTWARDS.

Vejfels. Tons.

1783,— 7,690— 812,960

Vejfels. Tons.

7,729— 870,270

1795,-10,174—1,262,568 I10,133—1,164,910.

Though the increafe in the number of

Britifli fhips is here fo large, yet it will occur

to all who hear me, that it would have been

ftill larger, if the circumftances of the war had

not required aconfiderable proportion ofmer-

chant fliips to be employed in the tranfport

fervice, and compelled us, to a certain extent,

to make a temporary ufe of foreign bottoms.

The progreflive increafe of our mercantile

{hipping, may be more clearly fnewn by the

accounts which have been kept under the

Regifter A61, beft known by the name of the

noble Lord who introduced it. As that a6l

was not in full effect till the year 1789, I

C 4 cannot

( 28 )

cannot carry the comparifon to an earlier pe-

riod. But here let it be remarked, that in

1789 we were indifputably in a ilate of high

profperity and of peace" ^ and yet fince that

period, if we extend our views to the whole

of the Britifh empire, we fhall find that

our increafe, both in fliipping and ton-

nage, has been in the proportion of about

fixteen to fourteen.

" Total number of vefTels belonging to the

" Britifli Empire.

Vejfeh, Tojis. Men,

" 1789,— 14,310— i,395,o74-'-io8,962

" 1794,— 16,802— 1,589,162— 1 19,194,

I now come to a general comparative

ftatement of our finances at the refpe6live

periods in queftion, beginning with the

amount of the permanent taxes :

^' Amount of permanent taxes

" on a three year's average

" to 5tb January 1784 £. 9,876,000

y Amount of the fame taxes,

" after making allowances,

*' as far as they can becalcu-

" lated, for the intermedi-

:* ate changes and arrange-. -

1[ ments

{ 29 )

" ments of the revenue J and

" alfo for the taxes impofed

" in 1784, 1785, 1786, and

*' 17B95 as well as for the

" profit gained by the eon-

" folidation of the cuftoms

" and excife duties ; on a

" thi*ee year*s average to the

« 5th January 1796, - ;C-i2,38i,ooo

Exhibiting, amidfl the failure of refources,

and the difafbrous circumftances afcribed to

us by the motion on the table, an increafe

of nearly one fourth in the a61ual produce of

the identical taxes of 1783, to many of

which the weight of new impofls has fmce

been added.

The next obje6t is the amount ©f the

unfunded debt.

" Navy debt outftanding and

" unprovided in Decem-

*^beri783, - - £.is^s^^^7^7(If taken in December 1782, when the

Noble Marquis was at the head of the Trea-

fuiy, it was ^,i/^,2oj,/^i/^.)

" Navy debt outftanding and

" unprovided on 2d May*' 1796, only - - ;^.2,300,000

being

( 3° )

being little more than the floating navy debt

in 1 79 1 , a period of acknowledged profperity

and profound peace. I would not be under-

ftood here to conceal that there exifted in laft

December a navy debt to the amount of near

£.1 1,000,000 which was not funded ^ but, for

a large proportion of it, taxes had even

then been provided. The recent difcharge

of a part of that debt for the purpofe of fa-

cilitating public credit, is at once a proof of

our refources, and of the wifdom and energy

which have diftinguiflied Parliament in all

the exigencies of the prefent war.

The next account which I fliall mention

to your Lordfliips will be that of the Bank

advances, in order to fliew that the idea of

our being aided by extraordinary anticipa-

tions is without foundation

:

Bank advances, April 5th,

1783, - - £.ii,2jg,oco

Do. May 2d, 1796,^^1 1,132,000

Of which laft fum

provifion has a61u-

ally beenmade for

funding - - ^f. 5,030,000

^.6, 102,000

A further

( 31 )

A further ftriking contraft of public clr-

cumftances in the periods compared will be

fcen in the following ftatement

:

" Amount of outftanding de-

" mands and floating and un-*' funded debt in Jan. 1784" (exclufive of two millions

** to American fufFerers, the

" debentures for which have

** been annually paying off,

" and will this year be dif-

" charged within 8o,oool.) £. 27,000,000

I have no fum to place in oppofitlon to

this amount of twenty feven millions flerling.

Eftimating the debts a6lually outftanding *,

and throwing into the oppofite fcale the whole

fupplies for which taxes are already found, I

may flate that certainly there is no out-

flanding balance of debt unprovided for at this

day J fuch and fo efficient have been the

meafures adopted and purfued for pre-

venting an accumulation of unfunded debt!

If, indeed, the eilimate were extended to

January 1797, the conje^lurewould be utterly

* It will not eafily be believed that this paffage can have

been conflrued, by any man of fenfe or informaticn, into an

^ffertion, there are " neither outftanding debts and de-

piands, nor any floating and unfunded debt."

unceitain.

( 32 )

uncertain. The refult muil depend upon the

extent of the navy debt, and of tlie extraor-

dinaries of the army to be incurred in the

courfe of the prefent year ; and it is poffible

that the outilanding debt might then amount

to fix or feven milhons.

Adverting to the finking fund I have

nothing to ftate under that head in 1783.

There did not then exift the means of a

finking fund. On the contrary, " there was

a deficiency of revenue, to the amount

of at leaft £. 2,000,000, below the peace ef-

tabiifliment, fupponng it to have amounted

to fifteen minions.

The amount of permanent taxes

for the year 1783, was jT.i 0,1 94,000

Allowed for a farther eflimated

produce of the taxes impofed in

1782 and 1783, 256,000

Land and malt, - - 2,550,000

Wanting to complete the fuppofed

amount of the peace eflabliHi-

ment, ^ _ - ^.2,000,000

>r. 15,000,000.

Very different is the flatement for the 2d

May, 1796. At this day the finking fund is

above

( 33 )

above ^f. 2,400,000, (without taking credit

for ;,(*. 200,000 annually voted in addition.)

And I am prepared to fhew, whenever a

proper occafion may arife, that, exclufive of

fo large a finking fund, which is hourly aug-

menting itfelf, there is, by the actual eila-

blifhed taxes, even under the abfurd fuppo-

fition that they will not be more produ6live

in peace than they are in war, fuch a balance

of revenue as, together with the aid to be ex-

pelled from the Eaft India participation and

the lottery, will furnifh one million annuall)^,

beyond the peace eftabliiliment above ftated of

jf. 1 5,000,000, over and above the interefl for

the additional debt incurred by the prefent

war.

If it lliould be obje6led tlrat the future peace

cllablifhment would neceiTarily exceed the fup-

pofed amount ; fall the furplus which I have

ftated would be applicable to it, in the whole

or in part, without any interruption to the

progrefs making in the difcharge of the debt.

I am aware that the necellity of an en-

larged peace eilablilliment may arife; but

on the other hand the favourable contingen-

cies of peace may be expefted to give a pro-

portionable increafe of revenue. In a word,myLords, if my computation is accurate, there

will remain a furplus of £. 1,000,000 (be-

yond

( 34 )

yond the finking fund and its growing pro*

duce), over and above all charges, applicable

to fuch fervices as our pofition on the return

of peace may make expedient.

With refpeft to the finking fund, your

Lordihips will recolle6t that the annual mil-

lion, fet apart in 1786, is to be inviolably

applied to the redu6lion of the debt, till the

accumulation, with other acceiTions and ex*

piring annuities, fliall amount tOj/].4,ooo,ooo

a year, from which period there will revert

annually to the difpofal of parliament, taxes

equal to the intereft of whatever part of the

national debt may be repurchafed by the ap-

plication of four millions a year. Your Lord-

fhips are farther aware that the other branch

of the finking fund was eflablifhed in 1792 ;

in confequence of which, an addition of one

per cent, of the capital is now provided, for

the gradual difcharge of every new debt cre-

ated. In other words, a moft falutary fyflem

has been introduced, by which the increafe

of revenue is required to be greater than the

charge of intereft to be paid for new loans

;

and that increafe, at the rate of the loans made

in the prefent war, has amounted to about

one fixth of the whole charge. Thus it is

that ^.750,000 a year of the taxes voted in

this

( 35 )

this war are applicable not to the expeiics of

the war, but to the reduftion of the new debt

incurred ; which will difcharge the wholeof that

new debt (eftimating the rate of money at

four per cent.) v/ithin a period of forty-one

years, when a fartlier difpofable income of

;^. 4,500,000 a year will revert to the public.

About nineteen millions of capital are nowredeemed by the operation of the linking fund

fctapart in 1786. Six millions more will be

redeemed in about three years, and the five

per cents will then be redeemable. The

redu6lion already made is more than three

times as grer^t as the whole reduftion that

was effected in the period of peace between

1763 and 1775. (And that redu6lion is ex-

clufive of the expence of the Spaniili arma-

ment in 1790, to the amount of^. 1,830,000,

which has been defrayed by a feparate provi-

fion.) It is an important refult of this fyflem,

that the whole of the perpetual annuities are

in effe6t converted into annuities for terms of

years, varying as to the courfe of redemption,

from fifty-four to thirty-nine years ; and it is

found in the progrefs of this operation, that

the daily and increafmg payments for the ca-

pital redeemed, have the m.oft beneficial effe6):s

in money tranfadlions and upon public credit.

I abflain

( 36 )

I abftain from entering into the confi-*

deration of the expences occafioned by this

wai* comparatively with former wars, or of

the produ6livenefs of the taxes, or of

their tendency to bear more or lefs heavily

on the bulk of the people. I fhall be ready

to difcufs thofe fubje6ts at a proper time :

hot, however, as an advocate for war : The

Noble Marquis cannot fee the inconveni-

encies and difficulties of fo extenfive a war as

the prefent with more concern than I do. But

I fee alfo the neceffity of that war j and

therefore I derive great confolation from the

fenfe and conviftion which I entertain of

our ability to fupport it. And furely it is

moft important not only to appreciate fairly

Dur own flrength and refources, but to fhew

that we may look forward with a well-

founded confidence to the farther ufe of that

ftrength and of thofe refources, if the per-

verfenefs of the enemy ibould make it ex-

pedient for us to employ them.

I fhall clofe this comparative account by a

flriking and important ftatement.

" Amount

( 37 )

^* Amount of revenue (in-

" eluding the landand malt)

'' below the computed ex-

" penditure on a peace

" ellablilhment of fifteen

"millions - - 1783 ;^. 2^000,000

*' Ditto above the computedex-

" penditure on a limilar

" peace eflablifhment, with

" the addition of increafed

*' charges for the debt in-

" curred by the prefent

" war, - - 1795, ^.3,400,000

If we compare the excefs of 1796

(X3j4oo,ooo) with the deficiency of 1783

(;(^.2,000,000), the difference of revenue

in favour of the latter period will be

^.5,400,000.

Your Lordfhips cannot fail to have remark-

ed, that all thefe objects converge in a remark-

able manner towards the fame conclufion

:

the coincidence is an irrefragable proof

that they all fpring from the fame fource, the

real ' profperity of the country. If there is

any inaccuracy in my fcatements, I am per-

fuaded it is inconfiderable and certainly it is

not intentional.

D 'Fa£ls;

( 38 ]

Fa6ls, fuch as thefe, my Lords, greatly

outweigh all the declamations that the genius

and eloquence of mankind can produce. I

Ihall leave them therefore without comment;

they fufficiently enforce themfelves. They

are unequivocal proofs of the refources of

the kingdom ; no man can look with an un-

prejudiced eye at fuch flatements, and not per-

ceive that this country has increafed in prof-

perity even under the prefTure of the war.

To what, under the prote6lion and favor

of Divine Providence, (hall fuch profperity

be afcribed ? To our naval fuperiority and

fuccefies; to our conquefts in the Eaft and

Well Indies ) to the acquifition of new

markets i to the enterpriftng fpirit of our

merchants ; to the improvements of our

manufaftures J to the energy of our coun^

trymen in arts and in arms -, to the union of

liberty v/ith law j to the national chara6ler

cherifhed by, and cherifhing, the principles

of our inimitable conftitution ; that confti-

tution, v/hich it has been the object of our

enemies to deftroy, by means and efforts

utterly deflru6t:ive to themfelves j that con-

ftitution Vv^hich it is the great purpofe of our

ftruggles, in this jufl and neceflary war, to

prefervc and to maintain,

( 39 )

A Comparative View of certain Public Cir-

CUmilances in the refpe6live Periods of

1783-4 and 1795-6.

Price of the 2 per cent. Confol. Jan.l']^ 1784 — 55/.

Ditto May 2, 1796 — 66/i

Price of IndiaJiock^ — — Jan. 2'J^ 1 784 — 12l/.

Ditto May 2, 1796 — 209/i

Total Value of Imports in I'j^^ — — IS^S^SjOOO^*

Ditto in 1795, including} .

Prize Goods to the Jinount c/ 907,000/; 3^^y^75^°°Oh

Total Fahrs of Experts in ijS^ — — 14,741,000/.

Ditto in ijgs — — 27,270,000/*

Falue of Britijh ManufaSlnres exported in

1783 — — — — — — 10,409,000/.

ritto in 1795 — — — — 16,526,000/.

Foreign produce exported in 1783 — — 4,332,000/.

Ditto in 1795 — — 10,743,000/,

Cotton Wool imported on the average offive

years to 1783 inclufwe — — — 7,000,OOo/^j.

Ditto to 1794 inclufive — — — 28,COO,OCO/^^.

Value of Britijh merchandize exported to the

Eajl Indies in l']%l — — — — 621,921/.

Ditto in ijgs —"— — — —

-

2,229,444/.

D 2 Ntt

( 40 )

Net revenues of the different fettlements of

the Eaji India Company above the charges

in — — — — 1783 None.

Ditto in — — — — 1795* 2j000,000/.

Amount of EaJi India Company^s Sales 1783 3,363,800/.

Ditto 1795 7,718,265/.

Britijh Jhips entered inwards, 1783

Ditto 1795

7690 812,960

10174 1,262,568

Briiijh Jhips cleared outwards 1783 7729 870,270

Ditto 1795 10133 iji64>9io

Total number ofJhips belong-

ing to the Britijh empire

in — — 1789 14,310 1,395,074 108,962

Ditto 1794 16,802 1,589,162 119,194

Amount ofpermanent taxes on a three years

average to the ^th of January, 1784 9,876,000/.

Atnount of the fame taxes, after making all

allowances for the intermediate changes

and arrangements of the revenue, on a

three years average to the ^th Jan. 1796 12,381,000/.

* This fum was ftated at £. 2,600,000. It is now

reduced in confequence of a corre<£t«d eftimate of the net

revenues and charges of the Prefidencies of Fort William,

Fort St. George, and Bombay, for 1795-6, which was

laid before the Houfe of Commons on the 6th of May.

NavyS

( 41 )

N'avy debt outflanding and unprovided in

December 1783 — — — ISjSIO?/^;/^

Ditto^ id May, 1796 — — — 2,300,000/*~

Bank advances, Jprtl <,th, 1783 — 11,279,000/.

Bank advances. May id, 1796 11,132,000/.

Of zvhich laji fum provifion has

aSfually been madefor funding 5,030,000/.

6,102,000/.

Amount of outjianding debts and demands,

andfloating and unfunded debt, in "Janu-

ary 1784 [excluflve of two millions to

jfmerican fiiflferers, the debentures for

which havefmce been difcharged) — 27,000,000/.

Ditto, May 2d, 1796 — — None,

Sinkingfund in 1783,

Ditto, May 2d, i-jc^b — — 2,400,000/.

Amount of revenue {including the land and

malt) below the computed expenditure on a

peace eflablijhment of 15 millions in 1783 2,000,000/,

Amount of revenue (including the land and

malt) above the computed expe?iditure on a

fimilar peace eftablifmient, with the ad~

dition of increafed charges for the debt

incurred by the prefent war in ijgs 3,400,000/.

FINIS.

< viv. mm'M

%i