them all the departments of his Majesty's government had the means of employing the force whose achievements have been so brilliant; through the wisdom of parliament the resources of the country have been called forth, and its spirit embodied in a manner unexampled in its history. By their firmness, magnanimity, and devotion to the cause, not merely of our own individual safety, but of the cause of mankind in general, we have been enabled to stand forth the saviours of the earth. No difficulties have stood in our way; no sacrifices have been thought too great for us to make; a common feeling of danger has produced a common spirit of exertion, and we have cheerfully come forward with a surrender of a part of our property as a salvage, not merely for recovering ourselves, but for the general recovery of mankind. We have presented a phenomenon in the character of nations.

It has often been thought, and has been the theme of historians, that as nations became mercantile, they lost in martial spirit what they gained in commercial avidity; that it is of the essence of trade to be sordid, and that high notions of honour are incompatible with the prosecution of traffic. This hypothesis has been proved to be false; for in the memorable era of the past year Great Britain has exhibited the glorious example of a nation shewing the most universal spirit of military heroism, at a time when she had acquired the most flourishing degree of national commerce. In no time of the proudest antiquity could the people of Great Britain exhibit a more dignified character of martial spirit than they have during the last year, when they have also risen to the greatest point of commercial advantage; and, Mr. Chairman, they are not insensible of the benefits, as well as of the glory, they have acquired; they know and feel that the most manly course has also been the most prudent, and they are sensible that, by bravely resisting the torrent with which they were threatened, instead of striking balances on their fate, and looking to the averages of profit and loss, on standing out, or of yielding to the tempest, they have given to themselves not merely security, but lustre and fame. If they

had, on the contrary, submitted to puchase a suspension of danger and a mere pause of war, they feel that they could only have purchased the means of future and more deplorable mischief, marked with the stamp of impoverishment and degradation; they feel therefore, that, in pursuing the path which duty and honour prescribed, they have also trod in the path of prudence and economy. They have secured to themselves permanent peace, and future repose, and have given an animating example. to the world of the advantages of vigour, constaucy, and union. If the world shall not be disposed to take the benefit of this example, Great Britain has at least the consolation to know, that she has given them the power. And if I were dis

posed, Sir, to pay regard to drier and colder maxims of policy, I should say, that every regard even to prudent economy would point out the course which we have taken, as the most advantageous for a people to pursue. It will be manifest to every gentleman on the slightest consideration of the subject, that, in the end, the measure of raising the supplies within the year is the cheapest and the most salutary course that a wise people can pursue; and when it is considered that there is a saving of at least one twelfth upon all that is raised, gentlemen will not suffer a superstitious fear, and jealousy of the danger of exposing the secrecy of income, to combat with a measure that is so pregnant with benefits to the nation. If gentlemen will take into their consideration the probable duration of peace and war, calculated from the experience of past times, they will be convinced of the immeasurable importance of striv ing to raise the suplies within the year, rather than accumulating a permanent debt. The experience of the last hundred, fifty, or forty years, will shew how little confidence we can have in the duration of peace, and it ought to convince us, how important it is to establish a system, that will prepare us for every emergency, give stability to strength, and perpetual renovations to resource. I think, I could make it apparent to gentlemen, that in any war, of the duration of six years, the plan of funding all the expenses to be incurred in carrying it on, would leave at the end of it a

greater burden permanently upon the nation than would be sustained, than they would have to incur for the six years only of its continuance, and one year beyond it, provided that they made the sacrifice of a tenth of their income. In the old, unwise, and destructive way of raising the supplies by a permanent fund, without any provision for its redemption, a war so carried on entails the burden upon the age and upon their posterity for ever. This has, to be sure, in a great measure, been done away and corrected, by the salutary and valuable system which has been adopted of the redemption fund. But that fund cannot accomplish the end in a shorter period than forty years, and during all that time the expenses of a war so funded must weigh down and press upon the people. If, on the contrary, it bad at an early period of our history been resolved to adopt the present mode of raising the supplies within the year; if, for instance, after the peace of Aix la Chapelle, the scheme of redemption even had been adopted, and persevered in to this time, we should for the seventh year of the war, have had more to raise from the pockets of the people than what we have now to pay of permanent taxes, together with about a fourth of what it would be necessary to lay on in addition for this year. Fortunately we have at last established the redemption fund: the benefits of it are already felt; they will every year be more and more acknowledged; and in addition to this it is only necessary, that instead of consulting a present advantage, and throwing the burden, as heretofore, upon posterity, we shall fairly meet it ourselves, and lay the foundation of a system that shall make us independent of all the future events of the world.

not now,

I am sure that, in deliberating upon the advantages of this system, gentlemen whose liberal and exalted views go beyond the mere present convenience of the moment, and are not limited to the period of the interest which they may themselves take in public affairs, or even to the period of their own existence, but look with a provident affection to the independence and happiness of a generation unborn, will feel and recognise the wisdom of a system that has for its principle the permanency of British gran

with

deur. You will feel that it is not only to the splendour of your arms, to the achievements of your fleets, that you are indebted for the high distinction which you at present enjoy; but also to the wisdom of the councils you have adopted in taking advantage of the influence which your happy constitution confers beyond the example of any other people, and by which you have given a grand and edifying lesson to dismayed Europe, that safety, honour, and repose, must ever depend upon the energy which danger is met and resisted. You have shewn the power of self-defence, which is permanent and unassailable: standing upon the principles you have assumed, the wild and extravagant hopes of the enemy will be thwarted; Europe will be a oused and animated to adopt a course so honourable; and surely with the means of persevering thus obvious, you will not think it prudent or necessary to shrink from the principles you have adopted, or take shelter in a peace which might be obtained by a more temporizing conduct, but which would neither be safe nor durable. But, Sir, I cannot encourage any sentiment so degrading; I feel in common with every gentleman who hears me, the proud situation in which we have been placed, and the importance it has given us in the scale of nations. The rank that we now hold, I trust, we shall continue to cherish, and that, pursuing the same glorious course, we shall all of us feel it to be a source of pride and consolation that we are the subjects of the king of Great Britain. I will not detain you longer, Sir, but will move for the first of my series of resolutions in carrying the plan of taxation into execution, which I have endeavour ed to detail.

The resolutions were as follow:

"Resolved,

"That it is the opinion of this committee, that so much of an act made in the last session of parliament, intituled, An act for granting to his Majesty an aid and contribution for the prosecution of the War,' as charges any person with an additional duty in proportion to the amount of the rates or duties to which, prior to the 5th day of April, 1798, such person was assessed, according to any assessment made in pursuance of any act of parliament in force at the time of passing the said act of the last session, be repealed.

"Resolved,

"That it is the opinion of this committee, that, towards raising the supply granted to his Majesty, there be charged annually, during a term to be limited, the several rates and duties following, upon all income arising from property in Great Britain, belonging to any of his Majesty's subjects, although not resident in Great Britain; and upon all income of every person residing in Great Britain, and of every body politic or corporate, or company, fraternity, or society of persons, whether corporate or not corporate, in Great Britain, whether any such income shall arise from lands, tenements, or hereditaments, wheresoever the same shall be situated in Great Britain, or elsewhere; or from any kind of personal property, or other property whatever; or from any profession, office, employment, trade, or vocation; that is to say,

One one-hundred-and-twentieth part of such income, if the same shall amount unto 60l. per annum, and shall be under 657. per annum.

One ninety-fifth part of such income, if the same shall amount to 651. but shall be under 70l.

One seventieth part of such income, if the same shall amount to 70l. but shall be under 75l

One sixty-fifth part of such income, if the same shall amount to 751. but shall be under 801.

One sixtieth part of such income, if the same shall amount to 801. but shall be under 851.

One fifty-fifth part of such income, if the same shall amount to 851. but shall be under 901.

One fiftieth part of such income, if the same shall amount to 90l. but shall be under 951.

One forty-fifth part of such income, if the same shall amount to 951. but shall be under 100.

One fortieth part of such income, if the same shall amount to 100%. but shall be under 105l.

One thirty-eighth part of such income, if the same shall amount to 105%. but shall be under 110/

One thirty-sixth part of such income, if the same shall amount to 110l. but shall be under 115i.

One thirty-fourth part of such income, if the same shall amount to 115l, but shall be under 120l.

One thirty-second part of such income, if the same shall amount to 120. but shall be under 125l.

One thirtieth part of such income, if the same shall amount to 125l. but shall be under 130l.

One twenty-eighth part of such income, if the same shall amount to 130/. but shall be under 1351,