including $16,000l. permanent interest on the loan of the present session), amounts to 8,247,2157. per annum; and that a farther charge of 497,7351. per annum is liable to be incurred in default of payment of the interest of certain loans by his majesty the emperor of Germany. 7. That the unfunded debt (exclusive of anticipations in the usual form upon the land and malt taxes) amounted, on the 5th Jan., 1793, to 10,252,5341. 8. That the unfunded debt (exclusive of anticipations in the usual form upon the land and malt taxes) amounted, on the 5th Jan., 1799, to 17,405,974/. 9. That the nett produce of the old permanent taxes, existing previous to the war, was, on the 5th Jan., 1793, 14,284,000/. 10. That the nett produce of the old permanent taxes, existing previous to the war, was, on the 5th Jan., 1794, 13,941,000l.; on the 5th Jan., 1795, 13,858,000l.; on the 5th Jan. 1796, 13,557,000l.; on the 5th Jan., 1797, 14,292,000/.; on the 5th Jan., 1798, 13,332,000l.; on the 5th Jan., 1799, 14,275,000/.; and on the 5th April, 1799, 14,574,300l. 11. That the nett produce of the taxes imposed since the 5th Jan., amounted, in the year ending the 5th April, 1799, to 7,272,0431. 12. That the total value of all imports into Great Britain, in the year ending the 5th Jan., 1793, was 19,659,358l.; and on an average of six years, ending 5th Jan., 1793, 18,665,290/. That the total value of all imports into Great Britain, in the year ending 5th Jan., 1779, was 25,654,000; and on an average of six years, ending 5th Jan., 1799, 21,356,296/. 18. That the total value of British manufactures exported from Great Britain, in the year ending 5th Jan., 1793, was 18,336,8514., and on an average of six years, ending 5th Jan., 1793, 14,771,0497. That the total value of British manufactures exported, in the year ending the 5th Jan., 1799, was 19,771,510.; and on an average of six years, ending 5th Jan., 1799, 17,154,3237. 14. That the total value of foreign merchandize exported from Great Britain, in the year ending the 5th Jan. 1793, was 6,497,911/.; and on an average of six years, ending 5th Jan., 1793, 5,468,014/. That the total value of foreign merchandize exported from Great Britain, in the year ending the 5th Jan., 1799, was 13,883,8851.; and en an average of six years, ending the 5th Jan., 1799, 10,759,6887. 15. That the total sum to be raised in Great Britain, in the year 1799, may be estimated as follows, viz. Interest of the public funded debt, charges of management and sinking fund, on the 5th Jan., 1799, after deducting the interest. 16. That it appears to this House, that the gross receipt of the revenue (after deducting re-payments for over-entries, drawbacks, and bounties in the nature of drawbacks), amounted, in the year ending the 5th Jan, 1799, to 26,039,0461. That the tax on income is estimated to produce a sum of 7,500,000l. per annum. That the tax on imports and exports may be estimated to produce a sum of 1,500,000/ That permanent taxes have been imposed in the present session of parliament, calcu lated to produce 316,000l.; and that, estimating the gross receipt of the revenue to continue the same as in the year ending the 5th Jan., 1799, the total amount to be raised by taxes, for the service of the year 1799, may be computed at a sum not less than 35,355,0461. 1 17. That it appears by the report of a committee of this House in 1791, that the actual expenditure of the peace establishment (including the annual million for the sinking fund), on an average of five years, ending the 5th Jan, 1794, was I KLİ de • amusin£s 16,816,995, 8,247,215 55,000 At the suggestion of Mr. Pitt, the Resolutions were ordered to be printed, and the debate thereon was adjourned to the 1st of July. July 1. On the order of the day for resuming the adjourned debate on the said Resolutions, Mr. Pitt said, that it was 150,000 his intention to propose several amendments to the resolutions moved by the hon. gentleman, and to state, in the shape 145,025 of resolutions, several additional facts in order to enable the House to judge fully of the financial state of the country. He would therefore move, that the farther discussion be postponed till Wednesday. 200,000 25,614,225 18. That the amount of 3 per cent stock to be redeemed, together with the annual interest thereon, by the tax on income, is 35,150,000!. That the produce of the tax on income, as appears by an estimate before this House, may amount to 7,500,000l. 19. That during the continuance of the tax on income, the expenditure of the peace establishment cannot be estimated at less than 33,114,225, per annum. 20. That supposing the war to end with the year 1799, the 3 per cents to remain on an average at 70, and the tax on income to produce 7,500,000l. per annum, the sum of 35,250,000l., together with the interest payable thereon, would not be redeemed before the month of November, 1803. 21. That supposing the war to end with the year 1800, and the same sum to be borrowed on the credit of the tax upon income for the service of that year which has been raised for the service of the present year, viz. eleven millions, and to be funded in 3 per cents at 60, the total amount of stock to be redeemed would be 53,583,000l. together with the interest payable thereon; and esti mating the produce of the tax on income to be 7,500,000l. per annum, and calculating the 3 per cents, to remain on an average at 70, such redemption would not be completed be fore the month of November, 1806. The probable annual expenditure during the first and a half of peace would therefore be upwards of thirty-three millions, exclusive any charges to be incurred for sums to be paid on winding up the expenses of the war; exclusive of any increase in the naval or military establishment beyond those of the last peace, and exclusive of the interest payable on the imperial loans." five years of July 3. The House having, on the sugges tion of Mr. Pitt, resolved itself into a Com-› mittee of the whole House, to consider of the Income, Expenditure, and Commerce of the country, and of the progress which has been made, and may be expected to be made, in the reduction of the National Debt, and the preventing the accumulation thereof in future, Mr. Pitt rose and entered into an able examination of the several resolutions proposed by Mr. Tiercounter resolutions, which, after a short ney, and concluded with moving certain debate, were agreed to by the committee and ordered to be reported to the House on the 11th instant. Resolved, 1. That it is the opinion of this committee, that the amount of the public funded debt was on the 5th of January 1786, 238,231,2481; exclusive of long and short annuities and annuities for lives to the amount of 1,373,550.-that on the 1st of Feb. 1793, stock to the amount of 10,242,100%. had been purchased by the commissioners for redeeming the national debt; and annuities to the amount of 79,880. had fallen in, and had been carried to their account; reducing the actual amount of the debt on the 5th Jan. 1793, to 227,989,1484, and the annuities to 1,293,6704.: and that on the 1st Feb. 1799 stock to the amount of 28,677,6891., had been purchased by the commissioners for redeeming the national debt; and annuities to the amount of 119,8804. had fallen in, and been carried to their account; reducing the actual amount of debt existing before the e war, on the 1st Feb. 1799, to 209,553,5591., and the annuities to 1,253,670l. 2. That the amount of the public funded debt, created since the 1st Feb. 1793 (including the amount to be created by sums borrowed in the present session of parliament, and exclusive of 7,502,6331. 3 per cent stock, and 230,000l. per annum annuities created by advances to the emperor of Germany) was 225,602,7921, exclusive of long annuities to the amount of 283,2067. per annum; of which 12,175,000l. is on account of Ireland, and 35,250,000l. is provided for by the tax on income, leaving a permanent debt of 178,177,000/ charged on Great Britain. And that on the 1st Feb. 1799, 8,704,0827. had been purchased by the commissioners for redeeming the national debt, reducing the said permanent debt, created since the 5th Jan. 1793, to 169,473,000l. exclusive of long annuities to the amount of 283,2067. per annum, alter deducting the annuities payable by Ireland. 3. That the total amount of the permanent funded debt charged on Great Britain (after deducting the sum of 37,551,771 redeemed by and the annuities fallen in to the commissioners) was, on the 1st Feb. 1799, 386,902,000l. together with the short annuities to the amount of 549,1307. and long annuities to the amount of 987,9171. after deducting the annuities provided for by Ircland. 4. That the sum annually applicable to the reduction of the national debt, in pursuance of the act passed in 1786, was 1,000,000! being about 1-238th part of the capital of the permanent debt then existing; and for 1793 was 1,427,143/. being about 1 160th part of the permanent debt existing in 1793; and may, for the year 1799, be estimated at 4,500,0007. being about 1-86th part of the permanent debt existing in 1799. 5. That the annual charge incurred on account of the permanent debt, on the 5th Jan. 1786, was 9,297,000l. before any fund was created applicable to the reduction of the debt; and on the 5th Jan. 1793, was 10,325,000/. including 1,000,000l. applicable to the reduction of the debt. 6. That the annual charge incurred on account of the permanent debt, created since the 5th Jan. 1793 (including 316,000l. permanent interest on loan of the present session) amounts to 8,246,215/. per annum ; of which 6,426,7557. is for interest, annuity, and charges of management, and 1,819,460l. applicable to the reduction of debt; and that a farther charge of 497,7351. per annum, is guaranteed by parliament in default of payment of the interest of certain loans by his majesty the emperor of Germany. 7. That the outstanding demands on the 5th Jan. 1793, amounted to 1,327,112/. and on the 5th Jan. 1799, to 3,367,5411.; the whole of which have been provided for, part thereof in the former session of parliament, and the remainder in the present session. 11 8. That the unfunded debt (exclusive of the anticipation in the usual form upon the land and malt tax) on the 5th Jan. 1793, amounted to 8,925,4221. and on the 5th Jan. 1799, to 14,137,6864.; of which 1,981,653. was provided for in the present session of parliament, leaving an unfunded debt of 12,176,083 which increase of 3,250,611. beyond the amount of the unfunded debt on the 5th Jan 1793, is occasioned chiefly from an addition of 1,000,000l. exchequer bills, and of an additional navy debt, arising from increased demands during the war, and bearing no in terest. 9. That the nett produce of the permanent taxes, existing on the 5th Jan. 1784, then amounted to 10,194,2591. and that taxes were afterwards imposed, to defray the expenses of the war ending in 1788, amounting in 1786 to 933,000/.; making together 11,182,000l. 10. That the nett produce of the permanent taxes existing previous to the year 1784, ad ding thereto about 983,000l, imposed, as above stated, in 1784 and 1785, and 137,0004 arising from the consolidation act and duties imposed in 1789, was, on the 5th January 1793, 14,284,000l. On the 6th Jan. 1794, 13,941,000l. On the 5th Jan, 1795, 13,858,000/. On the 5th Jan. 179613,557,000l. On the 5th of Jan. 1797, 14,292,000l. On the 5th Jan. 1798, 13,882,000l. On the 5th Jan. 1799, 14,275,000l. And, on the 5th April, 1799, 14,574,300l. Which last sum (after deducting the duties arising from the consolidation act, and those imposed in" 1789) exceeds the nett produce of the perma nent taxes on the 5th Jan. 1784, together with that of the taxes imposed in 1784, and 1785, by 3,305,000l. 11. That the actual nett produce of the taxes, imposed since the 5th Jan. 1793 amounted, in the year ending the 5th April, 1799, to 7,272,043/.; and that, on part of these taxes, the produce for one year has not yet been received, and no part of those imposed in the present year, estimated at 346,000l. 12. That the total value of all imports into Great Britain, in the year ending the 5th Jan. 1784, was 13,122,2357. and on an average of six years, ending 5th Jan. 1784, was 11,690,8291. That the total value of all imports into Great Britain, in the year ending the 5th Jan. 1793, was 19,659,358, and on an average of six years ending the 5th Jan. 1798 was 18,685,390. That the total value of all imports into great Britain, in the year ending the 5th Jan. 1799, was 25,654,000. making an increase as compared with 1783, of 12,531,7657. and with 1792, of 5,994,642/.; and on an average of six years, ending the 5th Jan. 1799, was 22,356,2961. making an increase, as compared with the average to Jan. 5th 1784, of 10,665,467. and with the average to January 5th of 1793, of 3,670,906k 13. That the total value of British manu factures, exported from Great Britain in the year ending 5th Jan. 1784, was 10,409,713k and on an average of six years ending 5th Ján. 1784, was 8,616,6601. That the total value of British manufactures exported from Great Britain, in the year ending the 5th Jan. 1793, was 18,336,851. and on an average of six years, ending the 5th Jan. 1793, 14,771,049l. | That the total value of British manufactures exported from Great Britain in the year ending the 5th Jan. 1799, was 19,771,510l. making an increase as campared with 1783, of 9,361,7977. and with 1792 of 1,434,6591. and on average of six years, ending 5th Jan. 1799, was 17,154,3237.; making an increase as compared with the average to Jan. 5th, 1784, of 8,587,663. and with the average to Jan. 5th, 1793, of 2,383,2747. 14. That the total amount of foreign merchandize exported from Great Britain in the year ending the 5th Jan. 1784, was 4,332,909/ and on an average of six years, ending the 5th Jan. 1784, was 4,263,9801. That the total value of foreign merchandize exported from Great Britain, in the year ending the 5th Jan. 1793, was 6,568,000l, and on an average of six years, ending the 5th Jan. 1793, was 5,468,014/. That the total value of foreign merchandize, exported from Great Britain, in the year ending the 5th Jan. 1799, was 14,028,000l.; making an increase as compared with 1783, of 9,695,0917. and with 1792, of 7,460,000l.; and on an average of six years, ending 5th Jan. 1799, was 10,791,000l. making an increase as compared with the avearge to Jan. 5th, 1784, of 6,527,070l. and with the average to Jan. 5th 1793, of 5,322,9861. 15. That the total sum to be raised in Great Britain in the year 1799, may be estimated as follows, viz. Interest of public funded debt, charges of management, and sinking fund on the 5th Jan. 1799, after deducting interest payable by Ireland ..18,762,024 Interest, &c. to be incurred and paid betwen 5th Jan, 1799, and 5th Jan. 1800, on stock created by loans in the present session, to the a mount of 15,500,000 510,000 Interest on exchequer bills estimated to be the same as paid in the year to 5th Jan. 1799, including 204,812/. on land and malt The Civil List 356,817 898,000 Other charges on consolidated fund, estimated to be the same as incurred in the year ending the 5th Jan. 1799 and adding 26,000 for abnuities granted insirat Making in the whole 15,500,000 3,000,000 3,000,000 32,871,000 the sum of ...... £.59,644,000 17. That, estimating the gross receipt of the permanent revenue to continue the same as in the year ending the 5th April 1799, and adding thereto the permanent taxes imposed in this session of parliament, calculated to produce 316,000l. the total amount to be raised by permanent and temporary taxes for the service of the year 1799,may be computed at the sum of 36,089,000/. 18. That it appears by a report of a comImittee of this House, in 1791, that the actual expenditure (including the annual million for the reduction of the public debt) on an average of five years of peace, ending 5th Jan. 1791, and including sundry extraordinary expenses for the armament of 1787, and for payments to American loyalists, and other articles of a temporary nature, amounted to 16,816,985l. But the peace establishment was estimated by the said committee at 15,969,1787. And that the expense of the year 1792, amounted nearly to that sum. That the additional permanent charge incurred by the debt created since 1793, exclusive of interest payable by Ireland is That the additional charge to be incurred for increased amount of exchequer bills outstanding, is Interest on money for satisfying increased navy debt, at 3 per cent. at 75/. That the additional charge incurred on the consolidated fund is ... That the additional charge incurred for a sum annually voted for the redemption of debt, is And that the future peace establishment (exclusive of any charges to be incurred by interest on sums to be paid on winding up the expenses of the war, and of the increase which may take place in the naval or mili tary establishments, and also exclusive of 497,000l. interest on loans due by the emperor of £.8,247,215 Germany, and guaranteed by ... 24,723,049 19. That the produce of the tax on income was originally estimated at 10,000,000!; and that it is highly important, for insuring the full benefit of the system now adopted, that effectual measures should be taken for rendering it productive to that amount. 20. That, during the continuance of the tax on income, after the conclusion of the war, if the produce in future years should amount, as so estimated, to 10,000,000l. the total annual expenditure may be estimated at about 34,600,000l. including therein the said sum of 10,000,000l. applicable annually (over and above all other sums in the hands of the commissioners) to the reduction of debt, 21. That the amount of 3 per cent stock created in the years 1798 and 1799, and of which the interest is to be defrayed, and the principal to be redeemed, by the tax on income, is 35,250,000l. 22. That, supposing the war to end with the year 1799, the 3 per cent stock to remain, on an average of three years after peace, al 801, and the tax on income to produce 10,000,000l. per annum, the capital stock of 35,250,000l. together with the interest pay. able thereon, would be redeemed about the month of April 1803; but, supposing the tax on income to produce hereafter only 7,500,000l. (as estimated for the present year), the same capital will not be redeemed till about the month of April 1805. 23. That supposing the war to continue during the year 1800, the expense to be the same as in the present year; 10,000,000l. to be raised within the year by the tax on is come, and 1,500,000l. by imports and exports, in addition to the usual sums in lieu of the land and malt, to the lottery, and to 3,400,000/ which may be calculated to be the produce of the consolidated fund (including imprests and repayments expected in 1800), a loan will be requisite to the amount of about 15,000,000/ which (taking the 3 per cents at 60) will pro55,000 duce a capital of about 25,500,000l. of which (according to the plan pursued in the present year) about 17,000,000l. would be on the cre 120,000 dit of the tax on income; making together, with the similar capital created in 1798 and 1799, in the whole, capital stock to the amount 131,650 of 52,000,000l. to be redeemed after the peace by the tax on income. That, supposing the war to end at the con200,000 clusion of the year 1800, and the price of the 3 per cent stock to be, during the first five years of peace, on an average 80l. and the produce of the tax on income to be 10,000,000!. this capital would be discharged in about four years and a half from the 5th April 1801, or nearly at Midsummer 1805; but, supposing the tax on income to produce only 7,500,000l. the same capital will not be redeemed till near Michaelmas 1807: And that, during those periods respectively, |