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11. That the nett produce of the tax on income, for the year ending the 5th April 1801 (exclusive of voluntary contributions) did not exceed the sum of 5,590,530l.

12. That the amount of three per cent stock (of which the interest is to be defrayed, and the principal to be redeemed by the tax on income, is 56,445,000l.

13. That, supposing the war to end with the present year, the nett annual produce of the tax on income to be 5,600,000l. and the three per cents to be, on an average, at 80, the sum of 56,445,000l., together with the interest thereon, would not be redeemed until the end of the year 1811: and that the probable annual expenditure, during the first ten years of peace (exclusive of any charges to be incurred for sums to be paid on winding up the expenses of the war, or any increase in the naval or military establishments beyond the last peace) cannot be estimated at less than 34,500,000l.

The first resolution being read, Mr. Chancellor Addington moved that the debate be adjourned till Monday; and said, that on that day he should probably lay before the House his view of the debts, revenue, and expenditure of the country.

June 22. Mr. Chancellor Addington's Counter Resolutions were laid on the table, and the debate was further adjourned to the 29th.

June 29. The adjourned debate on Mr. Tierney's Finance Resolutions being resumed, Mr. Chancellor Addington admitted, that the resolutions proposed by the hon. gentleman were accurate, that is to say, that they contained no arithmetical inaccuracy. The difference between the hon. gentleman and himself arose from the different view in which they considered the subject; for it was obvious that the same materials, by being stated in a different way, might lead to very different conclusions. The principal objection which he had to the hon. gentleman's resolutions was, that they did not go far enough-that they did not enable the people to take a just and comprehensive view of the finances of the country. This

inconvenience he had endeavoured to supply by the resolutions which he had the honour of submitting. He should therefore move the previous question on the hon. gentleman's resolutions, and afterwards propose his own.-After a short conversation, in the course of which Mr. Tierney entered into a defence of his resolutions, the previous question was put upon them and carried.

Mr. Chancellor Addington's Finance Resolutions.] The following Resolutions were then moved by Mr. Chancellor Addington, and agreed to:

FINANCE RESOLUTIONS.

1. That the amount of the public funded debt was, on the 5th Jan. 1786, 238,231,248), exclusive of long and short annuities, and annuities for lives, to the amount of 1,373,550l.: that, on the 1st of February 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 79,8801. had fallen in, and had been carried to their account, reducing the actual amount of the debt, on the 5th Jan. 1793, to 227,989,148/., and the annuities to 1,293,670: and that, on the 1st of February 1801, stock to the amount of 36,098,5621. had been purchased by the commissioners for rethe amount of 123,4777. had fallen in, and deeming the national debt, and annuities to been carried to their account, and stock, to the amount of 16,083,8021. had been transferred to them, on account of land tax redeemed, reducing the actual amount of debt existing before the war, on the 1st Feb. 1801, to 186,047,8841., and the annuities to 1,250,0737.

2. That the capital of the public funded debt created since the 1st Feb. 1793, as the same stood on the 1st Feb. 1801, together with the capital to be created by sums borrowed in the present session of parliament, and exclusive of 7,502,6331. three per cent stock created by advances to the emperor of Germany, is 306,997,7921.: that the amount of long annuities created during the same period is 312,6641. per annum, exclusive of 250,0004 created by advances to the emperor of Ger

many that, of these sums, 19,708,750l. capital, and 9,7917. long annuities, are on ac count of Ireland; and 56,445,000l. is charged upon the tax on income, leaving a permanent debt of 230,844,0421. charged on Great Britain; and that, on the 1st Feb. 1801, 16,182,0947. had been purchased by the com missioners for redeeming the national debt, reducing the said permanent debt, created since 5th Jan. 1793, to 214,661,9481. exclusive of long annuities, to the amount of 302.878). out of the tax on income. per annum; of which 19,666/. is now defrayed

3. That the total amount of the permanent

funded debt charged on Great Britain, after deducting the sum of 52,281,656/. redeemed by, and the annuities fallen in to, the commissioners, and 16,083,8027. transferred to them, on account of land tax redeemed, was, on the 1st Feb. 1801, 400,709,8321. together with short annuities to the amount of 545,3331. and long-annuities to the amount of 1,007,6137. after deducting the annuities provided for by Ireland.

4. That the sum annually applicable to the reduction of the national debt, in pursuance of the act passed in 1786, was 1,000,000l., being about 1-238th part of the capital of the permanent debt then existing; and for 1793 was 1,427,1437., being about 1-160th part of the permanent debt existing in 1793, and may, for the year 1801, be estimated at 5,300,000l., being about 1-76th part of the permanent debt existing in 1801.

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 10,325,000l. including 1,000,000l. applicable to the reduction of the debt; in which sum of 10,325,000l. was included, on the 5th Jan. 1793, the interest of 10,242,100l. capital stock redeemed, and the amount of annuities fallen in or unclaimed, which had been transferred to the commissioners, making together the sum of 387,143/.; and that the said sum of 10,325,000l. was reduced on the 5th Jan. 1801, by reason of stock transferred for the redemption of the land tax, and by diminution in the charges of management, on account of sums redeemed by the commissioners, to 9,830,4681., in which sum is included the interest on 36,099,562 capital stock redeemed, and the amount of annuities fallen in or unclaimed, and transferred to the commissioners, making together the sum of 1,211,5337.

6. That the annual charge incurred on account of the permanent debt of Great Britain, created since the 5th Jan. 1793 (including 1,812,817. permanent interest, and charge on loan of the present session) amounts to 10,395,246l. per annum, of which 7,581,2387. is for interest, annuity, and charges of management, of such part of the said debt as was unredeemed on the 1st Feb. 1801, and 2,814,008/. arises from 17. per cent sinking fund on the capital of the said debt and interest of stock redeemed, and is applicable to the reduction thereof; 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 amount of the outstanding demands unprovided for on the 5th Jan. 1801, exclusive of unfunded debt, of the anticipation of certain duties annually voted; and of 151,643/. for interest on exchequer bills made good in the last session of parliament, was 1,396,8497. that the surplus of ways and

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means for the year 1800 was 65,8371., and 499,0041. remained unpaid, and applicable to the public service, on the subsidies to the emperor of Germany and the elector of Bavaria, reducing the amount of demands unprovided for to 832,001.; the whole of which | has been provided for in the present session. 8. That the unfunded debt, exclusive of the anticipation in the usual form on certain duties annually voted, on the 5th Jan. 1793, amounted to 8,925,4227., and on the 5th Jan. 1801, to 17,946,1867. exclusive of 3,000,0001. advanced by the Bank, without interest, for the renewal of their charter, and to be repaid in 1806; which increase of 9,020,764/. beyond the amount of the unfunded debt, on the 5th Jan 1793, is occasioned chiefly from an addition of 3,740,300l. exchequer bills; and by an additional navy debt, amounting to 5,361,4897. arising from the increased extent of the service.

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9. That the nett produce of the permanent taxes, existing on the 5th Jan. 1784, then amounted to 10,194,259/.; and that taxes were afterwards imposed to defray the expenses of the war ending in 1783, amounting in 1786 to 938,0007., making together 11,132,000l.

10. That the nett produce of the permanent taxes existing previous to the year 1784, adding thereto about 938,000l. imposed as above stated in 1784 and 1785, and 187,000. arising from the consolidation act, and from duties imposed in 1789, was, in the year ending the 5th Jan. 1793, 14,284,000l.; 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, 14,292,000l.; on the 5th January, 1798, 15,332,000l.; on the 5th January, 1799, 14,275,000l.: on the 5th January, 1800, 15,743,1097.; and on the 5th January, 1801, 14,194,539l.;-which last sum, after deducting the duties arising from the consolidation act, and those imposed in 1789, exceeds the nett produce of the permanent taxes on 5th Jan. 1784, together with that of the taxes imposed in 1784 and 1785, by 2,925,5391.; and that the produce of the permanent taxes, in the year ended the 5th Jan. 1801, was diminished below that of the preceding year, by a reduction in the duties on malt, beer, and spirits to the amount of about 1,150,000/. which is principally to be attributed to the circumstances of the season.

11. That the actual nett produce of the taxes imposed since the 5th Jan. 1793, amounted, in the year ending the 5th Jan. 1801, to 8,079,0761.; and that the total_nett produce of the permanent taxes, in the year ended the 5th Jan. 1801, amounted to 22,273,6157.

12. That the total gross receipt within the year (deducting re-payments, discounts, and drawbacks, and also deducting all loans and monies paid to government) was, in 1797, 23,076,1794.; in 1798, 30,176,3037.; in 1799,

34,750,9761.; and in 1800, 33,535,016.;pared with 1783, of 14,001,3541., and with being an increase, compared with 1797, of 10,458,897.; and compared with 1798, of 3,358,7131.; and a diminution of 1,215,960., as compared with 1799.

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13. That the total gross receipt applicable to the service of the year 1800, exclusive of loans and exchequer bills, was estimated in the resolutions of the House of Commons, on the 28th of July, 1800, at 36,714,000%; and that the actual gross receipt so applicable, taking the produce of the mcome duty at 5,822,7414., amounted to 34,469,5427.; falling short of the above estimate by 2,244,458.

1792, of 6,074,216t.; and on an average of six years, ending the 5th Jan. 1801, was 20,085,1991., making an increase, as compared with the average to pcrease, as comJan. 1784, of 11,468,5397., and with the average to 5th Jan. 1793, of 5,314,150%.; and that the real value of British manufactures exported in the year 1800, may be estimated at about 39,500,000l.

16. That the official value of foreign merchandize exported from Great Britain, in the year ended the 5th Jan. 1784, was 4,332,909!,; and on an average of six years, ending the 5th Jan. 1784, was 4,263,9307.: that the official value of foreign merchandize exported from Great Britain, in the year ending the 5th Jan. 1793, was 6,568,000t.; and on an average of six years, ending the 5th Jan. 1793, was 5,468,0147.: that the official value of foreign merchandize exported from Great Britain, in the year ending the 5th Jan. 1801, was 17,166,1451; making an increase as compared with 1783, of 12,833,256/.; and with 1792 of 10,598,145/. and on an average of six years, ending the 5th Jan. 180I, was 12,867,9581.; making an increase, as compared with the average to Jan. 5th 1784, of 8,604,028; and with the average to Jan. 5th 1793, of 7,399,9447.; and that the real value of foreign merchandize exported in the year ended the 5th Jan. 1801, may be éstímated at about 16,300,000!.

14. That the official 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 the 5th Jan. 1784, was 11,690,8291.: that the official value of all imports into Great Britain, in the year ending the 5th Jan. 1793, was 19,659,3587.; and on an average of six years, ending the 5th Jan. 1793, was 18,685,390l.: that the official value of all imports into Great Britain, in the year ending the 5th Jan. 1801 (sup posing the imports from the East Indies, of which no account has yet been made up, to be the same as in the preceding year) was 29,925,8587., making an increase as compared with 1783, of 16,805,6231., and with 1792, of 10,366,500l.; and on an average of six years, ending the 5th Jan. 1801, was 25,259,890%., making an increase, as compared with the average to 5th Jan. 1784, of 13,569,0617., and with the average to 5th Jan. 1799, of 6,574,500l.; and that the real value of imports in the year ended the 5th Jan. 1801, supposing the imports from the East Indies to be the same as in the preceding year, may be estimated at about 54,500,000l. 15. That the official value of British manufactures exported from Great Britain, in the year ending the 5th January, 1784, was 10,409,713/. and on an average of six years, ending 5th Jan. 1784, was 8,616,6601.; that the official value of British manufactures exported from Great Britain, in the year ending 5th Jan. 1793, was 18,336,851.; and on an average of six years, ending the 5th Jan. 1793, was 14,771,0491.: that the official value of British manufactures exported from Great 18. That the total sum to be raised in Great Britain in the year ending 5th Jan. 1801, was Britain, in the year 1801, may be estimated 24,411,0671.; making an increase, as com- as follows; viz. Interest of Public Funded Debt, Charges of Management, and Sinking Fund, on the 5th Jan. 1800, after deducting interest payable by Ireland

17. That the number of registered vessels belonging to the British dominions, and employed in trade, in the year 1788, being the first year in which the Register act had taken full effect, was 13,827; their tonnage 1,363,488.; and the number of seamen navigating the same 107,925: in the year 179%, the number of vessels was 16,079, their tonnage 1,540,145, and the number of seamen navigating the same, 118,286; and in the year 1800, the number of vessels was 18,877, their tonnage 1,905,438, and the number of men 143,661; being an increase of 5,050 ships, of 541,950 tons, and of 35,736 men, compared with 1788; and of 2,798 ships, of 365,293 tons, and of 25,375 men, compared with 1792.

Interest, &c. to be incurred and paid between 5th Jan. 1801 and 5th
Jan. 1802, on stock created by loans in the present session....
Interest on Exchequer Bills, estimated to be the same as paid in the
year to the 5th Jan. 1801

Proportion to be defrayed by Great Britain, according to the Articles
of Union of the Civil List, and other Charges on the Consolidated
Funds of Great Britain and Ireland, amounting together to
1,560,000l.

....

Civil government of Scotland, estimated as before
Pensions on Hereditary Revenue, ditto
Militia and Deserters Warrants, ditto...

....

Bounties for promoting Fisheries, Linen Manufactures, &c. ditto

20,144,586

1,812,816

766,480

1,376,470

635,649

1,851,845

Charges of Management of the Revenue, estimated as before, includ-
ing the expense of collecting the Income Tax..........
Making the Total Permanent Charges to be defrayed out of the Gross Receipt
of Permanent Revenue
Proportion to be defrayed by Great Britain, according to the Articles of Union, of
the Supplies voted for 1801, for Great Britain and Ireland, amounting
in the whole to 43,686,715., including therein the separate Charges on Great
Britain

Advance to Ireland

Interest payable for Imperial Loans.

26,587,746

39,338,489

65,926,235

2,500,000
497,735

2,997,785

68,928,970

Making in the whole the sum of................

.....

27,419,000

1,000,000

19. That the gross receipt of the Permanent Revenue, (after deducting re-payments for Over Entries, Drawbacks, and bounties in the nature of Drawbacks) amounted, in the year ended 5th Jan. 1801 to Estimated produce to the 5th April 1802, of the Taxes imposed in the present session of parliament That tax on Income is estimated to produce for the year 1801, a sum of........ 5,822,000 That the tax on Imports and Exports may be estimated to produce the sum of 1,200,000 That further sums are applicable to the service of the year 1801, as follows: Re-payments from Grenada, Imprests, and Lottery.. And that the remainder of the Supply for the year 1801 is provided for by a Loan,

on account of Great Britain of

And a Loan for Ireland of...

...

..

And by Exchequer Bills to be charged on Supplies 1802.
And expected Additional Produce of Taxes that were deficient in 1800.
Surplus of Ways and Means 1800, and residue of Grants to the emperor of Ger-
many and elector of Bavaria

Interest on Land Tax contracted to be paid for by instalments, and moneys re-
maining in the Exchequer, of Lotteries of former years...

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20. That it appears by a report of a Committee 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 peace, ending the 5th Jan. 1791, and in-
cluding sundry extraordinary expenses for the armament of 1787, and for pay-
ments to American loyalists, and other articles of a temporary nature,
amounted to
But the Peace Establishment was estimated by the said Committee, at
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, ex-
clusive of interest payable by Ireland is

....

800,000

25,500,000

2,500,000

2,000,000

1,100,000

560,000

62,000

67,963,000

• 16,816,985 15,969,178

That the additional charge to be incurred for increased amount of Exchequer Bills
outstanding is about..

Interest of money for satisfying increased Navy Debt, at 51. per cent is about.
That the additional Charge incurred on the consolidated fund is

That the additional Charge incurredfor a sum annually voted for the Redemption
of the Public 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 any augmentation which may take place in the Naval or Military Establishments, but allowing for increase of pay and other expenses) may be esti mated at..

And also exclusive of 497,000l. interest on loans, due by the emperor of Germany,and guaranteed by parliament, may be estimated at

21. That the produce of the tax on Income, in the year ending 5th April 1801, appears to be

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And that supposing the produce of the permanent taxes to be the same as in the year ending the 5th Jan, 1800, the Income applicable to the peace establishment may be estimated as follows, viz.

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Which sum is exclusive of any allowance for the profit of a Lottery, or for any participation of the territorial revenues of India.

22. That, during the continuance of the tax on income, after the conclusion of the war, if the produce in future years should amount to 5,800,000l. the total annual expenditure may be estimated at about 34,000,000l. including therein the said sum of 5,800,000/., applicable annually (over and above all other sums in the hands of the commissioners) to the reduction of the debt.

23. That the amount of 3 per cent stock created in the years 1798, 1799, and 1800, and of which the interest is to be defrayed, and the principal to be redeemed, by the tax on income is 56,445,000l.

24. That, supposing the war to end with the year 1801, the 3 per cent stock to be on an average at 801. and the tax on income to produce 5,800,000l. per annum, the capital stock of 56,445,000l., together with the interest payable thereon, would be redeemed in the year 1811.

The King's Speech at the Close of the Session.] July 2. The royal consent was given, by commission, to several public and private acts; after which the Lord Chancellor delivered the following Speech:

"My Lords and Gentlemen;

"We have it in command from his Majesty to acquaint you, that, on account of the advanced period of the season, and the state of public business, he is induced to relieve you from a longer attendance in parliament.

His majesty highly commends the wisdom, temper, and diligence, which have marked all your proceedings; and particularly acknowledges the assiduity and zeal with which you have pursued the investigation of the important subjects brought under your consideration, in consequence of the severe pressure occasioned by the high price of corn. The beneficial effects of the measures you have suggested for the alleviation of this calamity, have afforded his majesty great consolation; and he has the utmost satisfaction in indulging the hope, that, under the favour of Providence, the blessings of plenty will be restored by the produce of the ensuing harvest.

"Gentlemen of the House of Commons; "His Majesty has directed us to return you his particular thanks for the liberal provision which you have made for the various branches of the public service. While he regrets the necessity of supplies so large, it is a relief to his majesty to observe, that the resources and continued

prosperity of the country have enabled you to distribute the public burthens in such a manner as to press with as little severity as possible on his faithful subjects.

"My Lords, and Gentlemen;

"The brilliant and repeated successes of his Majesty's arms by sea and land, important as they are in their immediate consequences, are not less satisfactory to his majesty's mind, as affording fresh and decisive proofs of that vigorous exertion, undaunted valour, and steady perseverance, which distinguish the national cha racter, and on which the chief reliance must be placed for respect abroad, and for confidence and security at home. Events so honourable to the British name derive, at the present moment, peculiar value in his majesty's estimation, from their tendency to facilitate the attainment of the great object of his unceasing solicitude, the restoration of peace on fair and adequate terms. They furnish at the same time an additional pledge, that if the sentiments of moderation and justice which will ever govern his majesty's con duct, should be rendered unavailing in this instance, by unreasonable pretensions on the part of his enemies, the spirit and firmness of his people will continue to be manifested by such efforts and sacrifices, as may be necessary for asserting the honour of his majesty's crown, and for maintaining the permanent interests of the empire."

The parliament was then prorogued until the 29th of October 1801.

END OF VOL. XXXV.

Printed by T. C. Hansard, Peterboro' Court, Fleet Street, London.

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