Mr. Pitt obferved, that the office of firft lord of the admiralty was one to which men afpired with a patrietic ambition, and whofe fortune rendered the confideration of a falary as little elfe than fecon- Mr. Wallace now moved for the For repairs, wear and tear, &c. Thefe and the other fundry votes The secretary at war next rose to move the extraordinaries of the army. On these estimates he had little more to offer than what might appear from the mere recital of them. The committee, however, might be defirous to learn the general comparison between the eiti mates of this year and thofe of preceding years; they would have the fatisfaction, therefore, of finding that the number of men to be voted this year was lefs by 32,000 than that voted last year. This dimiBution would fall upon the lefs difpofable force, the militia, for example, and the fencible cavalry. Notwithstanding this diminution, the regular army would be increased by 48,000 men. The whole amount of the number he propofed to be voted was 192,000 men, which was 32,000 less than that of laft year, and lefs than what had been voted for the three preceding years. The expence in fome articles would be found to have increafed, but that increase would be counterbalanced by a diminution of expence in other articles. Some reduction had been made in the military staff, which would have amounted to 20,000l. were it not found neceffary to in £. 656.515 1,300,000 500.000 creafe the medical staff by an addi- The chancellor of the exchequer ended in his majesty's most gracious communication. A great majority of the houfe had already pledged pecuniary affiftance that the empe ror, &c. might stand in need of might amount in the courfe of the year to 2,500,000l. He would at prefent only move for an advance or 500,ocol. pledged themselves to a vigorous After a very long debate the question for grantinga fubidy to the emperor was carried.-Ayes 162 The chancellor of the exchequer on the 21st of February moved the army extraordinaries in the shape of refolutions, as follows: To make good the like fum pursuant to addresses, and not Relief of fuffering clergy of France and American loyalifts Civil eftablifliment of Upper Canada Ditto Nova Scotia Ditto New Brunswick Ditto Ifland of St. John's, America Ditto Cape Breton Ditto Newfoundland Ditto Bahama Islands Ditto Bermuda Ditto Dominica Ditto New South Wales £. 2,500,000 447,000 150,000 26,203 242, 98 7,574 7,950 5.540 4,460 1,900 1,840 1,640 4,100 580 600 630,916 24,074 Bills drawn on the lords of the treasury for New South Wales, and not yet come to haud Charge for fuperintending aliens Convicts at home [Thefe laft include the plantation fervice, which had been voted that day, and the other ufual mifcellaneous articles. These are the chief heads of the fupply already voted. He should include all these fums in his account of fupply, that the committee might have before them the whole at one view, though the whole was not yet voted.] Interest paid for fums raifed by exchequer bills; difcount for prompt payment; and fums paid to the bank for receiv- ¡ ing and paying contributions, and for other fervices not included in the fupply of 1799: he made this, therefore, an article of fupply, Deficiencies of the grants of 1799, Deficiency of the ufual grant of the land and malt tax, Exchequer bills.- In confequence of the tax upon income,] credit was taken in the ways and means of last year for 10,000,000l. under this head; but in the estimate made [ of its probable produce, after the modifications which I were made of the tax, he reckoned upon no more than 7,500,000l. According to the paper on the table, the amount of it was likely to be 6,200,000l. From the number of exchequer bills iffued on the credit of this tax, there would be paid off about Ditto. In like manner exchequer bills were iffued on the credit of the aid and contribution act of 1798, and which exceeded the produce, making a charge which must be provided for of Ditto. In like manner a vote of credit was given last year] for 3,000,000l. to be provided for in the ways and means of the prefent year. It was his intention to vote for a like fum to be charged on the ways and means of the year 1801; but in the mean time he must include it as an article of fupply, 816,000 447,000 350,000 2,500,000 1,075,000 3,000,000 amount would be 2,500,000l.; but this was exclufive of the fum to be paid for the maintenance of the Ruffian troops now in the British dominions, which might be about 500,000. Subaidies. Mr. Pitt could not yet afcertain the amount of the fubfidies which Great Britain might have to pay to foreign ftates for their cooperation in the war. When applied to by those who bid for the loan, he told them that the probable So that he should take the whole of the fubfidies at 3,000,000 Thefe These were all the fpecific fums which he could ftate, unlefs the annual grant towards the fund for paying off the national debt, And these together amounted to the fum of 37,728,000. ; but there was ftill left the amount of the extraordinary fervices, to which we might be fubje&t, and of which he could not as yet form any accurate estimate, but he would fay about This would make the total of the supply for the year 1800, about WAYS AND MEANS. Mr. Pitt then proceeded to state the ways and means which were to meet this fupply, and the first fum he eftimated (under the head of land and malt) at Lottery, Exports and imports, Tax on income.-Here, Mr. Pitt faid he fhould propose such regulations as, he was informed on the fubject, would render the tax on income a much larger production than it had been in 1799. Suppofe, however, that, with the regulations which would be introduced, it fhould produce only the fum of 7,000,000l. from this fum, he had to deduct the intereft to be paid on the loans for which this fund is, in the first inftance, to be appropriated, viz.-it ftands charged with the intereft on loan of 8,000,000l. which is Ditto, 11,000,000. And he proposed to charge it with 13,500,cool. of the pre fent loan, Making together the fum of 480,000 588,000 } 635,000 1,703,000 Which, deducted from 7,c00,000l. leaves, as a fum appli- 5,300,000 cable for the fervice of the year, about "Gentlemen will obferve, faid Mr. Pitt, "that, in order to make out the disposable furplus of the confolidated fund, they must call to their minds, that by the redemption act of the land tax, the fums, as they are paid, go, with their intereft, to the confolidated fund;" and he estimated the quarter ending on the 5th of April to be 2,174,000 Upon which there remained a charge for the year 1799 of - 1,280,000 Leaving a furplus on the 5th of April, applicable to the fervice of 800, of the} 894,000 It appears that the produce of the four quarters amount of the permanent taxes ending the 5th of January 1800, was The taxes of 1799, inclufive; but thefe were not yet fully collected, and on that account an arrear would become due of 23,791,000 300,000 Making Making the amount of the permanent taxes for the year was Leaving an applicable furplus of To which might be added a fum which we might expect to receive under the title of impreft monies, and of the payment of monies granted to the colonies of Grenada and St. Vincent, without reference to the indulgence now under difcuffion, Making a total of The intereft on the impérial loan, Add to this the furplus balance which was to come from the} nfolidated fund for the year 1800, he therefore took at } land tax fund, over the appropriation of last year, And the total of the applicable furplus of the confolidated Exchequer bills, Bank charter. This fum was to be received from the bank The total of the ways and means for the year then amounted to 5,115,000 497,000 4,618,000 894,000 5,512,000 3,000,000 } 3,000,000 then} 18,500,000 39,500,000 Upon the fubject of the loan he fhould only fay, that it was the ftrongeft proof and confirmation of the propriety and wifdom of the new fyftem of finance which had been adopted, and of the folid refources of the empire. The terms were, for every 100l. in money, 110%. of 3 per cents. confols, at 61, 47. ditto reduced, at 617. 155. The discount for prompt payment, according to the rate previously agreed on, muft be added to this, in fairness, and it was calculated to amount to the contractor was to have rol of 3 per cent. confols, and 477. of 3 per cents. reduced. Early on the day before the bargain for the loan was made, the confols were at 61, and the reduced at 613. Taking them at this price, the terms would be as follows would be : So that for every tool. in money it was agreed to take In this view of the contract, it was furely a most advantageous bar gain; but in the courfe of the day £.67 2 29 O 4 2 16 7 £.98 18 11 the flocks rofe to 62, and in that view of the market the terms would ftand thus: |