rior in numbers. We feel, with his majesty, the full value of the seasonable check given, by this splen. did achievement, to the overweening confidence of the enemy; and of the proof which it affords that the character and constitution of the British army were not inadequate, upon their ancient footing, to maintain, unimpaired, the lustre of the British name, and the military glory of our ancestors. That we shall nevertheless examine, with due at tention and solicitude, into the effect of that new system which the late parliament were induced to adopt, for improving the character, as well as augmenting the amount, of his majesty's regular forces; willing to hope that we shall have the satis faction of discovering an improve. ment so striking, and an augmentation so rapid and abundant, as at once to have supplied all the deficiencies arising from the disuse of such measures as have been either abolished or suspended, and to compensate for the certain, permanent, and large addition which they have necessarily occasioned to the military expenditure of the state. We shall investigate with equal care, the state of our other military esta blishments, and particularly that of the volunteers, the cheap, efficient, and patriotic defence of the united kingdom; we trust and believe that we shall find them, in spite of all discouragement and discountenance, neither abated in 2cal, nor, as yet, materially reduced in numbers, at a period when it appears but too probable that their services may be more than ever essential to their country. That we are fully sensi. ble of his majesty's paternal affection for his subjects, manifested in the regret which he expresses at being compelled to call upon thera for sacrifices of so great an extent as may be necessary in the present crisis of affairs. That however painful the duty of imposing fresh burthens upon the people, we shall, however, not shrink from dischar ging it; satisfied as we are of the prevailing determination of all ranks of the community to submit with cheerfulness to the indispensable necessity of providing means for the continuance of a contest, in the issue of which public safety and pri vate happiness are alike inseparably involved. That it is a conso. lation to us, as to his majesty, under the pressure of this inevitable ne cessity, to learn the flourishing state of public credit, and the produc tiveness of the several branches of the revenue: and that we agree entirely with his majesty in attri. buting these salutary effects in a great measure to the system so wisely begun, and so properly per severed in, of raising a considerable proportion of the supplies within the year; a system which has hap pily disappointed the predictions of the external and internal enemies of his majesty and his government. That we earnestly wish it were in our power to close our address here. But we feel that we should be wanting as well in duty to his majesty as in fidelity to that people, in whose name and on whose be half we are proffering sacrifices un exampled in magnitude and inde. finite in duration, if we were to dis guise from his majesty the deep and general sentiment which prevails respecting the measures which pre ceded and accompanied the late ge neral election. Far be it from s to question his majesty's undoubted prerogative. But we cannot reflect without without concern and disapproba- to calculated to favour those delusive and dangerous theories which stigmatize the house of commons as an inadequate representative of the people. But while we feel this most unpleasant duty forced upon us, in vindication of our own independence, and of the rights of those whom we represent, we humbly and earnestly entreat his majesty to be persuaded, that neither this, nor any other misconduct of his ma jesty's ministers, can essentially af fect the firm and settled purpose of this house, and of the great body of the nation, to unite in that ge neral cause, and against that common danger-in comparison which all other considerations, however important in themselves, are at the present moment, unfortunately, inferior and subordinate. And we venture confidently to assure his majesty, that great and unexampled as are the difficulties and dangers which surround us, his majesty possesses in the wealth and prosperity of his dominions, ia the loyalty and firmness of his parliament, in the bravery of his flects and armies, and in the affection, zeal, and courage of his peopleresources, which, if wisely called forth, and diligently and judici ously applied, are yet amply suf ficient to ensure the safety and honour of the British empire; and to maintain the only remaining hope, under Divine Providence, for the restoration of the liberties and hap piness of mankind.” Resolutions of Finance moved by Lord Henry Petty, in the House of Commons, Jan. 29, 1807. [See also p. 680.] I. "THAT I: " HAT the several duties of ever and so soon as such amount of "THAT cast the general to his majesty by 43 Geo. Ill. c. 76, by 44 Geo. III. c. 53, and by the 45 Geo. III. c. 39, and also the several duties of excise granted to his ma jesty by the 43 Geo. III. c. 81, and by the 46 Geo. II. c. 42, shall be further granted and continued, and shall be payable in such proportions, and for such further terms as may be directed by any act or acts of parliament hereafter to be passed for defraying the charge of any loan or loans to be charged thereupon in manner hereinafter mentioned; that is to say :-That on every loan to be raised on the credit of the said several duties, or any of them, and charged there. upon, there shall be set apart, out of the produce of the said duties, and appropriated to the consolidated fund of Great-Britain, an an nual sum equal to ten pounds per centum on the amount of the sum to be raised by every such loan, out of which annual sum the interest and charges of the manage ment of such loan shall, in the first instance, be defrayed, and a sum equal to the residue thereof shall be paid in each year, by equal quarterly payments, into the bank of England, and placed to the account of the commissioners for the reduction of the national debt, and shall be by them applied in the purchase or redemption of such public annuities, charged on the consolidated fund of Great-Britain, as they shall deem most expedient, until by the operation thereof an amount of capital stock of such annuities, equal to the capital stock created in consequence of every such loan respectively, shall have been purchased or redeemed; and that when expital sto do shall have been of purchased or redeemed, the afore said annual sum shall be at the dis posal of parliament.” II. That the several duties granted to his majesty on the profits arising from property, profes sions, trades, and offices, by the acts of 43 Geo. III. c. 192, 45 Geo. III. c. 15, and 45 Geo. III. c. 65, shall be applicable in like manner for defraying the charge of any such loan or loans, so long as the said duties shall continue payable by virtue of the said acts, and no longer." III. That the total amount of any loan or loans to be so raised aud charged shall not exceed the sum of 16,000,000l. in any one year, or of 210,000,000l. within 14 years from this time." IV. "That any further or supplementary loan or loans which may be necessary for the service of any year beyond the loan or loans so charged as aforesaid on any of the several duties above-mentioned, shall be raised on such terms, and subject to such conditions of redemption, as are hereinafter speci fied; videlicet, that an annual sum, equal to one per cent. on the ca pital stock created in respect of every such supplementary loan, shall be issued in equal quarterly payments to the commissioners for the reduction of the national debt; or that other provisions shall be made by parliament for redeeming the same within 45 years from its creation; and every such loan may be charged upon any duties to be hereafter granted or appropriated by parliament for such purpose, or on any temporary annuities which may expire, and become applicable by by parliament, conformably to the provisions of an act made in the 42d of Geo. III. c. 71." V. "That in consideration of the large amount, which by the ef. feet of the foregoing resolutions will be applicable to the redemption of the national debt, beyond the sums which, in consequence of any law now in force, would be applicable thereto; it is reasonable and expedient that the provisions of an act, 32 Geo. III. c. 55, so far as relates to the redemption of the several public funds created or to be created subsequent to the year 1802, and also that the provisions of an act, 42 Geo. III. c. 71, so far as relates to the redemption of the several public funds therein mentioned, should be so altered and amended as may be necessary for giving effect to the principles of the said acts, in such manner as may, under the present circumstances, be most beneficial to the public interests." VI. "That it is expedient, that whenever the whole of the sums applicable to the reduction of the national debt, by virtue of any act or acts now in force, shall have accumulated to an annual amount exceeding the amount of the interest payable in respect of all such public redeemable annuities, created at any time previous to the 5th day of January, 1807; as shall then remain unredeemed, the excess of such annual sums above such interest shall be at the disposal of parliament, and may be made applicable to the charge of any loan or loans thereafter to be raised into such other public service as parlia. ment may direct, but in such manner and to such extent only as shall always leave an annual sum appli cable to the reduction of the national debt, sufficient to redeem every part thereof, which existed previous to the 22d day of June, 1802, within 45 years at the utmost from the said 22d day of June, 1802; and also sufficient to redeem every part thereof created subse. quent to the said 22d day of June, 1802, within 45 years at the utmost from the date of its creation." VII. That whenever the an. nual sums applicable to the reduction of the national debt in respect of any loan or loans to be charged as aforesaid in the several war duties before-mentioned, shall exceed the amount of the interest payable in respect of such part of the capi. tal stock created in respect of any such loan or loans which shall then remain unredeemed, the excess of such annual sums above such interests shall be at the disposal of parliament in time of peace, but not in time of war, and in such manner and to such extent only, as that an amount equal to the capital stock created by every such loan respectively shall always be redeemed within 45 years from the date of the creation of such loan." VIII. That whenever the annual sums applicable to the reduction of the national debt, in respect to any such supplementary loan or loans as aforesaid, shall exceed the amount of the interest payable in respect of such part of the capital stock created in respect of any such loan or loans as shall then remain unredeemed, the excess of such an. nual sums above such interest, shall be at the disposal of parliament; but in such manner and to such ex. tent only as that an amount equal to the capital stock created by every such loan respectively shall always always be redeemed within 45 years from the date of the creation of such loan." of three years shall exceed the first average by more than the amount of any sums which may then have been charged thereon; but if on any such three years average there shall appear any deficiency below such average, together with such additional charge aforesaid, such deficiency shall be made good by parliament." IX. That for the purpose of ascertaining the due execution of the regulations provided by the above resolutions, separate accounts shall be kept by the commissioners for the reduction of the national debt, of all public funds, or secu. rities purchased, or redeemed by XI. "That an account shall be the sums vested in them by virtue annually taken, and laid before this of any act or acts now in force, house, of the net produce of the or by such sums as shall be vested several war-duties aforesaid; and in them, in respect of any loan or if upon an average of three years, loans charged on the aforesaid war. from the 5th day of January, 180, duties, or any of them, or in re. the annual net produce thereof shall spect of any supplementary loan or have fallen short of 21.000,000! loans to be raised as aforesaid; such deficiency shall be made good provided nevertheless, that the said by parliament, and so on succes. several sums may be applied indis. sively in any subsequent year, in criminately in the purchase of any which any loan or loans shall be such public funds or securities, as created and charged thereupon in the said commissioners may think manner aforesaid." expedient." X. That an account shall be taken, and laid before this house, of the net preduce of all the permanent taxes for three years, ending the 5th day of January, 1807; adding thereto an estimate of the future annual produce of such of the said taxes as have not been in full receipt during that period, with an average thereof; and if the net produce of those taxes in the years ending the 5th day of January, 1808, 1809, and 1810, shall in the average of those three years exceed such former average, such excess, or any part thereof, shall be at the disposal of parliament, and applicable to the charge of any loan or loans thereafter to be raised, or to such other public service as parlia. ment shall direct, and so on successively in any future years, if the excess of such taxes on an average Finance Plan, as described in an THE for its object, to provide the means of maintaining the honour and independence of the British empire, during the necessary con tinuance of the war; without perceptibly increasing the burthens of the country, and with manifest be nefit to the interests of the public creditor. The proposed measure is grounded on the flourishing state of the permanent revenue; on the great produce of the war taxes; on the high and accumulating amount of the sinking fund; and on some inferior aids to be derived from re venues set free by annuities origi nally granted for a term of years, and |