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The chancellor of the exchequer next proceeded to state the effect which had been produced by the financial measures which he adopted in the course of the year, and contended, that from funding four millions of exchequer bills, when stocks were at 634, and by borrowing ten millions and a half in the four instead of the three per cents. there had resulted a saving to the public of four millions of capital debt; and that by the single measure of contracting for the loan in the four per cents there was a saving of 3,100,000l. capital debt; and also a saving in the annual charge, of 20001.; besides the advantage of being able to redeem the debt at comparatively a very inconsiderable loss. He concluded his statement with moving a resolution, that it is the opinion of the committee, that towards providing the ways and means for the year, it is expedient to enable his majesty to raise eight millions by way of annuities for Great Britain, and two millions and a half for Ireland, .which was agreed to.

The attentive reader will perceive among the different articles of ways and means one that needs explanation; namely, bank advances. The resolutions of the court of directors, on which a resolution of the company of the bank of England was founded, had agreed to lend to the public 3,000,000l. without interest, during the war, on the condition that the balances of the public money should be continued in the bank in the usual man

£730,000

728,783 1,217

Surplus provided ner, though they should even exceed 10,000,000l. This arrangement was first suggested by the committee appointed in the last year to enquire into the means of reducing the public expenditure: whose second report turned upon the managenient of the public debt by the bank, and the manner in which the bank was connected with the public revenue, and the public expenditure.

This subject resolved itself into three heads: 1st, the management of the public debt; 2dly, the balances of the public money in the hands of the bank; and 3dly, the unclaimed dividends. On all these heads the committee had brought to light such facts as afforded opportunities of considering how those matters might be conducted with a saving to the public. The committee that had suggested the im provements that were now to be carried into effect, had shewn one principle on which advantage might be reasonably claimed for the public.

Mr. Pitt, in his arrangement with the bank, had asserted the right of the public to participate in the advantages derived' by the bank from the management and balances; and that, whether this participation should be in the proportion of one third, one fourth, or one half, it would be greatly to the advantage of the public. This shewed, that not more than a participation was intended, and therefore, as the proportion of one third, being the middle rate, was

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what was most looked to, and probably considered as most equitable, that proportion was agreed to. As to the unclaimed dividends, this, like the other parts of the present arrangement, originated in the report of the committee of finance, The unclaimed dividends, according to the report of the committee, amounted on the 8th of July, 1807, to 986,5731. and at the lowest period of some antecedent years, they had not fallen below 900,000l. This calculation, however, had been taken on the day before payment,

whereas it ought to have been taken the day after. But on demanding 500,000l, of the unclaimed dividends for the public, in addition to 376,7391. formerly advanced under the act of 1791, provision was made that the balance ready for the payment of the public creditor, should not be reduced below 100,000l. and according as any reduction below that sum should take place, a proportion of the 500,000l. should be refuuded from the exchequer to make up the deficiency*.

This arrangement with the bank was stated to the house by the chancellor of the exchequer so early as the 10th of February. But as we do not wish to jumble a number of heterogeneous facts together, in the mere order of time, but rather to classify the subjects of our narrative according to their nature, it seemed proper to introduce this measure, not by itself, but as forming a part of the ways and means for the service of the year.

CHAP.

CHAP. VI.

Flourishing State of the British Navy.-Army Estimates.-The Mutiny Bill.-Clause introduced for allowing an Option of enlisting into the Army for Life.-Debates on the comparative Advantages of enlisting for limited and unlimited Service in the Army.--Other new Clauses. -Establishment of a Local Militia.-Debates thereon.-Reversion Bill passed in the House of Commons.-Rejected by the Lords.Another Reversion Bill moved by Mr. Banks in the House of Commons.-Passed in both Houses.-Bill brought into the House of Commons by sir Samuel Romilly, for amending the Criminal Law respecting private Stealing in Contradistinction to Robbery.-Passed in that House.-Act for the better Administration of Justice in Scotland.-Annuities to the Judges of the Court of Session justiciary, and Exchequer of Scotland upon the Resignation of their Offices.-Act for regulating the augmentation and modification of the stipends of the clergy in Scotland-Acts for making more effectual Provision for the Building and Re-building of Churches, Chapels, and Glebe Houses; and for the Purchase of Glebe Lands, Glebe Houses, and Impropriations in Ireland; and for enforcing the Residence of spiritual Persons in Ireland, on their Benefices-Curates Bill--Catholie Petition.-Grant to Maynooth College.-An Act to prohibit the Distillation of Spirits from Corn or Grain for a limited Time.-Debates thereon.-Affairs of Spain.-Prorogation of Parliament.

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HE transactions of government, the year, will be found in the first ber of seamen, including 1400 royal marines voted for the service of 1808, was 130,000.

just stated were provided, naturally fall into two general heads, namely, the relations of government external and internal: the defence and security of the country against danger from abroad; and its internal tranquillity and general improve ment. Under the head of foreign relations and the defence of the the country, our first attentions are due to the navy and the army. The flourishing state of the British navy in 1808, sufficiently appears from the immense sunt voted for its support. A particular statement of the navy, according to the returns made up to the first day of

House of commons, Feb. 16.-The house having resolved itself into a committee of the whole house to consiller of the army estimates,

The secretary at war-stated, that there were two alterations in the form of the estimates for the present year. The one was, that more contingencies were ranged under one general head of service than had been done in former cases; and the second was, that a num ber of heads of expence, which it had been the custom to range

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among the extraordinaries of the army, were now reduced to estimates. Having premised these two observations, he was happy in being able to state to the committee, that at no former period had the army of this country been superior in spirit and discipline, and at no former time equal in numbers; the whole establishment amounting to no less than 300,000 men. The difference also between its actual numbers, and its supposed establishment, was less than it had ever been before. The regular infantry establishment of 1807, was 109,000, and that of the present year was 132,000; and the difference between the actual numbers and this establishment was now only 13,000 men, whereas last year it had been no less than 53,000. In cavalry there was a slight reduction, but it was hardly worth mentioning. The royal waggon train was reduced to 500 horses; and though last year it was intended to reduce the whole of that corps, yet when it was recollected that these horses were actually employed in the public service, in the works carrying on about the different royal palaces, and on the military canals, and that the service which they performed was performed at a cheaper rate than could be done by hiring horses, he did not think that any reasonable objection could be made to the maintenance of this body.

The militia was nearer to its establishment than it was last year, notwithstanding that 24,000 men had been drafted from it into the regular army. In the staff there was a small variation, from the increase that had taken place in the staff

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abroad. The volunteer corps were nearly in the same state in which they were last year. The foreign corps were somewhat increased, from an addition that had been made to the German Legion. The royal military college and the compassionate list were both somewhat augmented. After stating the different heads of service, the secretary proceeded to compare the estimate of expence of each for the present year, with the expence of the same head of service for the last year; the general result of which comparison was, that the estimates for the present year exceeded that of the last by 592,000l.; but after deducting from the estimates now before the committee the various items of expence which used formerly to be introduced among the extraordinaries of thearmy, the real difference was reduced to somewhat less than 100,000l. He concluded with moving his resolutions conformably to the estimates.

Lord Castlereagh stated that, of the two great military measures brought forward last session, the success had been most remarkable indeed. By the militia balloting bill, which was to continue in operation until May, it was proposed to raise 47,000 men for Great Britain and Ireland; and of these, according to the last returns, no less than 37,000 were already raised. By the militia transfer bill, which was to continue in operation until August next, it was proposed to raise 27,620; and of this number, according to the last returns, 23,689 had actually volunteered into the line. So that a force of above 60,000 men had been raised within the last year, in that coun

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East Indies......30,884

Remained then to be pro

vided..........331,777

10,980,864 13 8 3,743,704 5 10

Resolutions for making good these sums, moved and agreed to.

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