12. 11,500000 duty on imports and exports.. 9,000,000 the annual expenditure (exclusive" of any, For 1799, by tax on income, and 24. That the sums necessary to be raised' by loans for the service of the years 1798, 1799, and 1800, (supposing the system for raising such a proportion of the supplies, as is before stated, within the year, had not been adopted) must have been estimated as follows:-For 1798, about 21,500,000.; for *1799 about 24,000,000l.; for 1800 about 25,000,000l.; which, supposing the price of stocks to have been at 45, would have created a capital of 160,000,000l. 3 percent stock, and a permanent charge (including 1 per cent for the reduction of the capital) of 6,200,000l. annually; which, supposing the capital to be redeemed by about forty years, would amount in the whole to 248,000,000l. sterling, to be ultimately paid by the public.. 19 45,000,000,, Would make the whole sum últimately paid on account of the expenses of these three years 120,740,000 Being less than the charge estimated to be created, by defraying the like expences by, loans as before stated, by the sum of above 128,000,000l. sterling. 27. That supposing the price of 3 per cent stock to be, on an average after the year 1800,. 907. in time of peace, and 757. in time of war, and the proportion of peace and war to be nearly the same as in the course of the last 100 years, the average price of peace and war would be about 857. The fund applicable to the reduction of debt existing previous to 1793, will have reached its greatest amount in 1808: The whole, of the capital of debt created in each year of the present war, will25. That for every year of the war which be redeemed in about forty years from such might hereafter take place, supposing the ex-year respectively; and the whole of the capipence thereof to amount to 25,000,000l. to be tal debt, existing previous to 1793, will be redefrayed by loans, and the price of the 3 per deemed in about forty seven years from the cent stock to be at 50, a permanent charge present time. would be incurred for the interest, and 1 per cent on the capital, amounting to 2,000,000l. to remain for a period, which may be estimated to be about forty years; and that the charge which would so be incurred for any five years of war (on the same supposition) would require permanent taxes to the amount of 10,000,000/.; being equal to the amount of "the estimated produce of the temporary tax, which, according to the plan now pursued, is imposed upon income. 1 28. That from the year 1808 to 1838 (at which time the capital debt created in the first year of the present war would be re-, deemed, and the taxes applicable to the charges thereof would become disposeable) taxes would be set free in the course of each: year of peace (on the supposition of the price of stocks before stated) to the amount of 133,000l. and in each year of war to the amount of 168,000l. making (on the proportion of peace and war above stated) the total amount of taxes set free during that period 4,284,000l. That the amount of the sum annually applicable to the reduction of debt, would, in the course of the same period, gradually rise from 5,000,000l. to about 10,400,000l. and may, at a medium, be computed at 7,700,000l. That the permanent 577,000 loan to be borrowed in each year of war during the same period, would, according to the system now adopted, amount to the same sum. 316,000 That the interest, and 1 per cent on the capital, of such loan, may, for every such year of war, be computed at about 410,000l. and the total charge thereof would, on the supposition above stated, amount to 5,300,000l. exceeding the amount of the taxes which would be set free in the same period by about 1,000,000!. 26. That the total permanent charge for defraying the expences of the years 1798, 1799, and 1800, according to the plan now adopted may be computed as follows: In 1798, interest and charges of 919 7,000,000l. beyond what was 151 borrowed on credit of the aid and bcs contribution In 1799, on 4,500,000l. beyond what was borrowed on credit of tax on income In 1800, on 5,000,000l. estimated to be borrowed in like manner, at 601.... 1 323,000 1,206,000 48,240,000 Making together Which, supposing the principal to be redeemed as before in forty years, would amount to And adding thereto, for the year 1798, raised within the year by aid and voluntary contributions and duty on exports and imports 7,000,000 [VOL. XXXIV.] 29. That, supposing the charges occasioned by each year of war during the period before stated, and the sums raised within the year, to remain as computed for the year 1800, the total amount of that part of the loan ne[4 E] cessary for the service of every such year (which, according to the plan now adopted, will be to be raised on the credit of the tax on income) will be gradually decreasing during the whole of the period, in proportion as the sums applicable in each year to the reduction of debt increase; and that the period for which the tax on income must afterwards continue in time of peace, on account of each year of will decrease in like manner. 30. That (on the suppositions before stated) taxes equal to the amount of the charge created during each year of the present war will be successively set free, from the year 1853 to 1840 inclusive, to the amount in the whole, of about 8,500,000l. That taxes to the amount of nearly 2,000,000l. will also be set free from the year 1833 to 1846 inclusive; and farther taxes to the amount of 4,200,000. (being the sum applicable from 1808 to the reduction of debt existing previous to 1793) will be set free about 1846, when the whole of the said debt is estimated to be redeemed; making, in the whole (together with the taxes before stated to be set free from 1808 to 1833), near 19,000,000l. of taxes set free up to 1846, which universally prevail, may justly be considered as indications, the most en and unimpaired resources of the British couraging and decisive, oft the abundant empire, and of the unshaken firmness of your faithful people. To your Commons, it is a subject of pride and satisfaction to reflect, that in providing for the exigency been enabled to adopt a measure which, though attended with sacrifices unprece dented in their amount, is eminently cal culated to administer effectual support to public credit; upon the depreciation and expected failure of which, the enemy have long been induced to found the vain hope of destroying the liberties and independence of these kingdoms. "The conduct, however, of your Com mons has not been influenced by a limited and partial view of the situation and circumstances of this country, and of the causes which operate upon its welfare and security. They know that its interests 31. That, supposing the same number of are closely connected with those of other years of war to 1846, at the same rate of ex-states; and they have accordingly conpense, the sums necessary to be raised by loans for defraying the same (if the system for raising a portion of the supplies within the year, as stated, should not be adopted) would amount in each year of the war, to about 25,000,000l. the whole to about 450,000,000l. sterling; which (supposing the price of 3 per cents to be 50%. on an average of war) would amount to 900,000,000l. capital stock, and the interest and charges of 1 per cent to 36,000,000l. per annum; which, after deducting about 19,000,000l. taxes, estimated to be set free within the same period, would require an increase of 17,000,000l. of permanent taxes beyond those now existing. The said Resolutions were agreed to by the House. The Speaker's Speech to the King on presenting the Money Bills.] July 12. The King came this day to the House of Peers. His Majesty being seated on the throne, Mr. Speaker Addington addressed his Majesty as follows: "Most gracious Sovereign; "In the name of the Commons of Great Britain, in parliament assembled, it is my duty humbly to tender to your majesty the bills by which their grants are completed for the public service of the year. "The magnitude of the supply, and the cheerfulness with which it has been given, combined with the flourishing state of commerce and of the revenue, and with the manifestations of zeal and public spirit formed to the principles of a sound and enlarged policy, for affording to your ma jesty the most ample means of promoting and assisting the exertions of those powers, who justly estimating the danger with which they are threatened, are convinced that a fatal aggravation of it would be the probable consequence of compromise and supineness; and that to be suc cessfully repelled, it must be opposed by such efforts as will be sufficient to prove to the enemy that their system of ambition and conquest is equally nefarious and attainable. extravagant, and that its objects are un Your Commons, Sire, are deeply senwhich your majesty is still unavoidably sible of the importance of the stake for contending, and of the duties which they are bound to discharge. It is, they are persuaded, upon the wisdom and fortitude of the British parliament, that under the favour of Divine Providence, must chiefly truly valuable in civil society, and of all depend the preservation of whatever is that constitutes the happiness of private life. Actuated by these sentiments, and relying with perfect confidence upon justice and moderation of your majesty's views, your Commons have not hesitated to continue to your majesty that cordial and decided support in the prosecution of the contest, which can alone justify the hope of concluding it by a safe and dura ble peace. The King's Speech at the Close of the Session.] After the royal assent had been given to the said bills, his Majesty delivered the following most gracious Speech: "My Lords and Gentlemen; "The favourable appearances which I announced to you, at the commencement of the present sessión, have since been followed by successes beyond my most sanguine expectations. "By the progress of the imperial arms, under the command of the Archduke Charles of Austria, a great part of Switzerland has already recovered its ancient religion, laws, and liberties; and the uninterrupted and brilliant victories of the combined armies, under the command of field-marshal Suwarroff, have, in the short period which has elapsed since the opening of the campaign, nearly accomplished the deliverance of Italy from the degrading yoke of the French Republic. "The decision and energy which distinguish the councils of my ally the emperor of Russia, and the intimate union and concert happily established between us, will enable me to employ, to the greatest advantage, the powerful means which you have entrusted to me, for establishing, on permanent grounds, the secu rity and honour of this country, and the liberty and independence of Europe. "I have the satisfaction of seeing, that internal tranquillity is in some degree restored in my kingdom of Ireland.i. "The removal of the only remaining naval force of the enemy to a distant quarter must nearly extinguish even the precarious hope which the traitorous and disaffected have entertained of foreign as sistance. "But our great reliance for the immediate safety of that country must still rest on the experienced zeal and bravery of my troops of all descriptions, and on the unshaken loyalty and voluntary exertions of my faithful subjects in both kingdoms. "Its ultimate security can alone be ensured by its intimate and entire union with Great Britain; and I am happy to observe, that the sentiments manifested by numerous and respectable descriptions of my Irish subjects, justify the hope, that the accomplishment of this great and salutary work will be proved to be as much the joint wish, as it unquestionably is the common interest, of both my kingdoms. "The provisions which you have made for suppressing those dangerous and sedi tious societies, which had been formed for the purpose of disseminating the destructive principles of the French Revolution, are peculiarly adapted to the circumstances of the times, and have furnished additional security to the esta blished constitution. "Gentlemen of the House of Commons; "The unusual sacrifices which you have made in the present moment, on behalf of my subjects, are wisely calculated to meet effectually the exigencies of this great crisis. They have, at the same time, given additional security to public credit, by establishing a system of finance, bene ficial alike to yourselves and to posterity; and the cheerfulness with which these heavy burthens are supported, evince at once the good sense, the loyalty, and the public spirit of my people. "My Lords and Gentlemen; t "It is impossible to compare the events of the present year with the state and prospects of Europe at the distance of but a few months, without acknowledging, in humble thankfulness, the visible interposition of Divine Providence, in averting those dangers which so long threatened the overthrow of all the establishments of the civilized world. "It may be permitted to us to hope, that the same protecting Providence will continue to us its guidance through the remainder of this eventful contest; and will conduct it finally to such an issue as shall transmit to future ages a memorable example of the instability of all power founded on injustice, usurpation, and impiety; and shall prove the impossibility of ultimately dissolving the connexion between public prosperity and public vir tue." The Lord Chancellor then, by his majesty's command, prorogued the parliament to the 27th of August. It was afterwards further prorogued to the 29th of October. FOURTH SESSION OF THE EIGHTEENTH PARLIAMENT OF GREAT BRITAIN. The King's Speech on Opening the Ses sion.] September 24. 1799. His Majesty opened the Session with the following Speech to both Houses: "My Lords and Gentlemen; "I have called you together at this unusual season, in order to recommend it to you to consider of the propriety of enabling me, without delay, to avail myself, to a further extent of the voluntary services of the Militia, at a moment when an increase of our active force abroad may be productive of the most important and beneficial consequences. "We have seen the happy effects of the measure which you adopted on this subject in the last session; and the forces which I was thereby enabled to employ have already displayed, in the face of the enemy, a courage, discipline, and steadiness, worthy of the character of British soldiers. quarter in a state of solid and permanent security. The vigilance, decision, and wisdom of the governor general in council on this great and important occasion, and the tried abilities and valour of the com. manders, officers, and troops employed under his direction, are entitled to my highest praise, "There, is, I trust, every reason to expect that the effort which I am making for the deliverance of the United Provinces will prove successful. The British arms have rescued from the possession of the enemy the principal port and naval arsenal of the Dutch republic; and although we have to regret the loss of many brave men in a subsequent attack against the enemy, whose position "In the short interval since the close enabled them to obstruct our progress, I of the last session, our situation and have the strongest ground to expect that prospects have, under the blessing of the skill of my generals, and the deter Providence, improved beyond the most mined resolution and intrepidity of my sanguine expectation. The abilities and troops, and of those of my allies, will soon valour of the commanders and troops of surmount every obstacle; and that the the combined imperial armies have con- fleet which, under the usurped dominion tinued to be eminently displayed. The of France, was destined to co-operate in deliverance of Italy may now be consi- the invasion of these islands, may speedily dered as secured, by the result of a cam-I trust, under its ancient standard, partake paign, equal in splendor and success to any the most brilliant recorded in history; and I have had the heart-felt satisfaction of seeing the valour of my fleets and armies successfully employed to the assistance of my allies, to the support of our just cause, and to the advancement of the most important interests of the Bri-suaded, as cordially join in the senti tish empire. "The kingdom of Naples has been rescued from the French yoke, and restored to the dominion of its lawful Sovereign, and my former connexions with that power have been renewed. "The French expedition to Egypt has been continued to be productive of calamity and disgrace to our enemies, while its ultimate views against our Eastern possessions have been utterly confounded. The desperate attempt which they have lately made, to extricate themselves from their difficulties, has been defeated by the courage of the Turkish forces, directed by the skill, and animated by the heroism of a British officer, with a small portion of my naval force under his command; and the overthrow of that restless and perfidious power, who, instigated by the artifices, and deluded by the promises of the French, had entered into their ambitious and destructive projects in India, has placed the British interests in that in the glory of restoring the religion, li. berty, and independence of those provinces, so long in intimate union and alliance with this country. "While you rejoice with me in the events which add so much lustre to the British character, you will, I am per ments so justly due to the conduct of my good and faithful ally the emperor of Russia; to his magnanimity and wisdom, directing to so many quarters of Europe the force of his extensive and powerful empire, we are, in a great degree, indebted for the success of our own efforts, as well as for the rapid and favourable change in the general situation of affairs. I have directed copies to be laid before you of those engagements which bave consolidated and cemented a connexion so consonant to the permanent interests of my empire, and so important at the present moment to every part of the civilised world. "Gentlemen of the House of Commons; "The ample Supplies which you have, granted to me, in the course of the last sessions, will, I trust, so nearly provide for the exigencies of the public service, even on the extensive scale which our present operations require, as to enable me, without further aid, to continue those exertions to the close of the present year -but, in order to afford you the convenience of a longer recess, I recommend it to you to consider of providing for the expense which will be necessary in the early part of the ensuing year; and with this view I have ordered the proper estimates to be laid before you, "My Lords, and Gentlemen ; "In pursuance of your recommendation, I judged it proper to communicate to my two Houses of Parliament in Ireland at the close of their last session, the sentiments which you had expressed to me respecting an incorporating Union with that kingdom. The experience of every day confirms me in the persuasion, that, signal benefit would be derived to both countries from that important measure; and I trust that the disposition of my parliament there will be found to correspond with that which you have manifested for the accomplishment of a work which would tend so much to add to the security and happiness of all my Irish subjects, and to consolidate the strength and prosperity of the empire." His Majesty then withdrew. : it proper to make some material alterations in the militia establishments by the complete subjugation of the Dutch navy, there no longer existed a necessity for a fleet in the North Sea, nor for a powerful military force to be cantoned along our Northern and Eastern coasts. It would be politic, however, to avail ourselves in other quarters of the forces which would be thus free to act in any other shape, and proceeding in that manner, he deemed it best to do it through the medium of the militia corps. It struck him, that the present national circumstances would even warrant a reduction of the militia force to its original establishment in point of numbers. By the adoption of the measure he alluded to, the nation would be placed in a greater degree of security, by being enabled to follow up hostile operations, to cement our continental alli. ance, and to meet the exertions of the enemy, and, above all, to recover one of our oldest and most valuable alliances. A measure of the nature proposed did not appear to him to involve the slightest breach of parliamentary faith. The events of the late campaign were such as called for our most grateful acknowledgments to Providence. He would call the consideration of their lordships to the wanton aggression made by the common enemy of all religion and government upon a The Marquis of Buckingham said, he power with whom they were then in the felt it incumbent on him to call the at-relations of peace and amity, by an attack tention of their lordships to some of the leading points in the speech from the throne, and in this view what struck him most forcibly were the well-founded allusions which were made to the steadi-uninformed bravery of a few Turkish ness and bravery of the British troops in the late glorious exploits upon the continent, in which these levies taken from that part of the British forces to which he had the honour to belong, bore so distinguished a share. Yet it was not their conduct in action which most merited his approbation; when he contemplated the alacrity, with which they entered themselves for foreign service, their merits in his mind were considerably enhanced. Having said thus much, he must notice the obvious good policy of pursuing our late brilliant successes, by expeditiously adopting the measures recommended from the Throne. He did not think that, under the present circumstances of the nation, such measures could create the slightest degree of alarm. Circumstances had recently occurred, which indeed rendered Debate in the Lords on the Address of Thanks.] His Majesty's Speech having been read, upon one of its distant provinces, Egypt; but in which nefarious attempt they were baffled by the unexampled gallantry of a handful of British seamen, aided by the soldiers, but led on by an officer who merited the most grateful acknowledgments from his country. Indeed, when he contemplated the exploit in question, he was lost in admiration. He then adverted to the recent operations in India, and spoke in the highest strain of commendation of those councils, and the military gallantry by which the usurper Tippoo Saib was humbled to the dust. His lordship next dwelt in strains of culogium upon the wise and energetic mea. sures adopted by the Emperor of Russia. He then passed to the affairs of the sister kingdom; the disadvantage of her present situation; her still existing distractions: and concluded by expressing his conviction that the popular sentiment in favour of a union with this country was daily gaining ground. Even the peasantry |