make the people cautious how they The lord chancellor obferved, that the prefent chancellor of the exchequer, who had propofed the bill, was the very perfon who had advifed and effectually fupported the plan of annually fetting a part of the fupplies of the year afide for the ufeful purpose of reducing the national debt. From this plan the public had derived, and ftill continued to derive, the most important advantages. It was reafonable, therefore, to infer that the prefent " measure of raifing a tax, amount- alfo alfo paffed, and afterwards received the royal affent. Mr. Pitt, who, as already obferved, had deferred bargaining for the whole of the loan in the begining of the feffion, on the twenty'fecond of February, 1799, moved, in the house of commons, that it is the opinion of this committee, that, to wards raising the supply granted to his majefty, the fum of three millions be raifed, by way of loan, on exchequer-bills. This fum was voted. * On the fixth of June, Mr. fecretary Dundas brought a meflage to the houfe of commons, from his ma jefty, acquainting them" that he had, fome time fince, concluded an eventual engagement with his good brother and ally, the emperor of Ruffia, for employing forty-five thoufand men against the common enemy, in fuch manner as the state of affairs in Europe, at that period, appeared to render moft advantageous. Though his majefty had not yet received any account, that the formal engagements to that effect had been regularly concluded, he had the fatisfaction of knowing, that the fame promptitude and zeal, in fupport of the common caufe, which his ally had already manifefted in a manner to honourable to himself, and fo fignally beneficial to Europe, had induced him already to put his army in motion to the place of its deftination, as now fettied by mutual confent. His majefty, therefore, thought it right to acquaint the house of commons, that the pe cuniary conditions of this treaty would oblige his majefty to pay the fum of two hundred and twenty-five thousand pounds in fpecified inftalments, as preparation money; and to pay a monthly fubfidy of seventyfive thousand pounds, as well as to engage for a farther payment at the rate of thirty-feven thoufand five hundred pounds per month: which laft payment was not to take place till after the conclusion of a peace, made by common confent. His majefly relied on the zeal and public fpifit of his faithful commons to make good thefe engagements, as well as to continue to afford the necellary fuccours to his ally, the queen of Portugal; and alfo to give timely, and effectual affifiance, at this important conjuncture, to the Swifs cantons, for the recovery of their ancient liberty and independence." On June the feventh, the house refolved itself into a committee of supply. His majefty's meffage having been read, The chancellor of the exchequer ftated that the precife fum neceffary for defraying the expense of two hundred and twenty-five thoufand pounds, to be advanced as preparation-money, and the monthly expenfe of feventy-five thousand pound, for eight months, or to the end of the year, was eight hundred and twenty-five thoufand pounds. The committee were aware that there was an addition to this, after the conclufion of a peace, by mutual confent, of thirty-feven thoufand five hundred pounds per month: See provifional treaty between his majefty, the king of Great Britain, and his majefty the emperor of all the Ruffias, under the head of State Papers, în vol. xl. (1798) of this work, p. 223. This fubfidy is flated in the treaty, at 44,000/. fterling; and it was to be continued patil the return of the Ruilans into their own ports. See the treaty in this volume. but of but the fum of eight hundred and twenty-five thousand pounds was the only fpecific vote that it was his intention to propofe; accordingly moved," that it was the opinion of the committee, that the fum of eight hundred and twentyfive thousand pounds be granted to his majefty, to enable his majefty to make good his engagements with Ruffia, in fuch a manner as might be beft adapted to the exigencies of the cafe. Mr. Tierney hoped that the honourable gentleman, learning a leffon of policy in the fyftem of fubfidies, and from his knowledge emperors, had declined paying before-hand. But the difference was not very material: nor was it worth while to trouble the houfe with particulars. The great fubject of debate was the fubfidy: the time of payment, and other inatters of detail being merely of a fecondary nature. He trufted, that, whatever differences might have formerly ariten, minifters now had but one opinion, and that they were all agreed that the fafety of England fhould be the main object. Deeply impreffed with this truth, he would not vote any fums for a purpose he did not understand, in aid of a power whofe object he did not know, and which might be appropriated to his own views exclufively, and to the injury, inftead, of the welfare of England. Mr. Pitt replied, that there was no ground to fear, left that magnanimous prince fhould act with infidelity in a caufe in which he was fo fincerely engaged, and which he knew to be the caufe of all good government, religion, and huma nity, against a monftrous medley of tyranny, injuftice, vanity, irreligion, ignorance, and folly. That magnanimous and powerful prince had undertaken to fupply, at a very trifling expenfe, a moft effential force, and that for the deliverance of Europe." I muft ftill ufe this phrafe, notwithstanding the fncers of the honourable gentlemen; does it not promife the deliverance of Europe, when we find the armies of our allies rapidly advancing in a career of victory the moft brilliant and au fpicious, perhaps, that ever fignalized the exertions of any com bination? Would it he regarded with apathy, that the wife, provi dent, vigorous, exalted, and god. like prince, who now, fortunately for the world, fwayed the Ruffian fceptre, had already, by his promptnefs and decifion, given a turn to the affairs of men? From the praifes of Paul, Mr. Pitt paffed to thofe of the people of England." There is," faid he, "a high-fpirited pride, an elevated loyalty, a generous warmth of heart, a nobleness of spirit, a hearty hilarity and manly gaiety that diftinguith our nation, in which we are to look for the best pledges of general fafety, and of that fecurity against general ufurpa tion, which other nations, in their weakness or their folly, have no where found. With respect to that which appeared fo much to embarrafs certain gentlemen, the deliverance of Europe, he would not fay particularly what it was: whe ther from the infection of false principles, the corroding cares of a pe. riod of diftra&tion and difmay, or the diffolution of all governments, and death of all focial order and religion, But while the spirit of France remained what at prefent it was, it its power to do wrong at all reI mained mained, there did not exift any fecurity for this or any country in Europe. He did not confine his views to the territorial limits of France. He faw in the principles, character, and conduct of France, the iffues of diftraction, infamy, and ruin! Mr. Tierney faid, “I have received an answer and it does carry the conviction that we are now about to embark in a seventh year of the war, aiming at an indefinite object, warring against lyftem, and fighting with English blood, and English treasure, against French abftract principles, without the fmalleft regard to the burdened state of the country." Many explanations, replies, and rejoinders now took place on thofe trite fubjects, the object of the war, and the deliverance of Europe: in which Mr. Windham took a part, and declared his wellknown opinion, that nothing could be more defirable to this country than the restoration of the monarchy, which, notwithstanding all its defects, could never do us any ferious injury, compared to the incalculable mifchiefs which the prefent fyftem was peculiarly filled to produce. And this appeared to him not only the most defirable, but the moft probable change that could happen, because it was that which the people of France preferred. Sir W. Pulteney begged to fay a few words in confequence of what had fallen from Mr. Pitt and Mr. Windham. The former had stated, that even if we were to drive the French within their own territories, ftill we fhould have a great deal more to do. This declaration he thought, not only unneceffary but highly imprudent. It might induce the people of this country to relax 4 in their efforts. It would furnish the directory with a new argument to perfuade the people of the neceflity of continuing the war. The other right honourable gentleman had commented on the advantages that would refult from a restoration of the French monarchy. He withed to know whether it was likely to produce a favourable effeet for us in France, to have it known, that we were discussing, in our fenate, the form of government they ought to have? Sir William made every allowance for fanguine temperament: but it was very wrong, he faid, to fuffer ourselves to be elated with profperity. We ought to proceed firmly and manfully in the conteft. But language, which feemed to breathe fomething more than exultation, and even de fiance, was to be avoided as impolitic, and, indeed, not very confiftent with firmnefs, and true dignity of character. The question for the fupply to Ruffia was, after fome farther difcuffion by Mr. Pitt, Mr. Tierney, and Mr. Windham, carried in the affirmative. Mr. Pitt then moved that the fum of three millions be granted to his majefty to enable him to make good fuch farther engagements, as his majefty might deem it expedient to enter into: which was agreed to. The houfe having refolved itself into a committee of ways and means, Mr. Pitt recapitulated the fupplies, which he had stated to be neceflary for the service of the current year, on the third of December, with the farther fupplies fince required. The amount of the whole, after certain alterations in the fums voted in December, was 30,947,3517. 30,947,3514.* befides the vote of credit for 1799, which was an increase by more than 1,600,000, of that brought forward at Christmas, as the total of the supply was then ftated at 29,272,000l. ways and means were provided or devifed for railing the fupplies to the amount of 31,000,000+ There was no provifion made for exchequer-bills to the amount of 3,000,000l. These he left ultimately to be funded: expecting that they would be fo on more advantageous terms, than by adding that fum of three millions to the loan. Mr. Pitt next ftated the terms of the loan. Three of the moft refpectable houfes agreed to pay for 1254. in the three per cent. confols. 691. 4s. 4d. . and for the reduced 287. 25. 6d. making 971. 6s. 104. which, with the benefit of the discount at 21. 6s. 6d. gave 991. 13s. 44d. inftead of tonuses, the bargain had been concluded at the price of the day, when it was confiderably under the actual value of 1007. As to the intereft Inftalments on aid and contributions, 1798 £2,750,000. 200,000. 521,000. 3,229,000 1,500,000. 7,500,000. 650,000. From the ten per cent. on income, and these instalments, amounting together to 8,150,000l. deduct half a year's intereft on Loan first Loan fecond 3,000,000, 1798 Ditto one year 57. 115. per cent. |