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and in that character they ought to see precluded from making further econo.. that the bargain made with the Bank mical arrangements, but these would be should be economical. He did not think more easily effected when the information formerly when the subject was before the should be laid before the House. Was it House, that the arrangement was so bene. not its duty at this period to endeavour to ficial as it ought to have been. Whenever save 3 or 400,0001. to the public? the time came that they should be un. Mr. Tierney asked, what possible objecfettered by any specific regulations in the tion there could be to immediate inquiry? statute-book, he hoped that a more benefi. The more documents the House had becial plan would be adopted; but at all | fore them, the better judgment they events he hoped that a previous investi. would be enabled to form upon the subgation would take place.

ject. The only person who could be The Chancellor of the Erchequer explain. supposed to have any desire to defer the ed, that he did not consider himself at investigation was the Governor of the liberty to withdraw the balance, nor to Bank ; but no reasons had been urged by vary the manner in which the business him for delaying the inquiry. was carried on. But he had no objection Mr. Marryat said, it was not the first to adopt any suggestion calculated to time in his life he had observed how very lessen the balance. On the contrary, differently men acted in their individual every means had already been adopted to characters, and as members of a corpora. effect that purpose.

tion; in the first capacity he had often Mr. Ponsonby was not sure that he un found them frank, liberal, and obliging; derstood the Chancellor of the Exchequer. and in the latter he had as often found Did he merely object to the production of them upaccommodating, narrow, and disthe accounts on that day, or at any period obliging. He could not belp thinking, of the present session ? If he only wished that the apprehension shown lest the pato fix another day, then he should have pers moved for should be produced, at no objection to agree to his proposal. But least proved that a very undue considera, if he should intend to postpone it to an- tion was paid to the Bank of England for other session, then he should think it bis the management of the public concerns. duty to offer a few observations. He then Any gentleman could find private bankers read the clause which engaged that no to manage his money concerns, without alteration should take place in the mode any charge or any other advantage being of transacting the business, and that the derived by the bankers than the use of balances should not be withdrawn. There the balance left in his hands; the greater was no other restrictive clause to prevent the transactions the greater was the profit; Parliament from exercising its own judg- and therefore the immensity of the trans, ment on that subject. Undoubtedly for a actions was of the greatest advantage to fixed period, it had no right to interfere the Bank on the banking principle. It with the existing arrangements ; neither was stated, that by a different system of was it the intention of his hon. friend, nor management, 400,0001. might be saved; his own, nor that of any person in the and they found that 300,0001, more was House, to go in opposition to the pledge gained by paying their dividends to the given. One of the objections to the pro- public. When the Bank of the United duction of the accounts at this period, States paid all the dividends to the public was their being voluminous, and that it creditors without any charge ; surely, would require much time to make up where the transactions were so much one's mind on the subject. If the right more large, and were so much more hon. gentleman had spoken in favour of an object of emolument, they were less the motion, he could not have used a entitled to any allowance from the pubstronger argument; as since the papers lic. It was his opinion, that the Bank were voluminous, and would require much did derive more from the public rhan in time for consideration, the sooner they fairness and liberality they were entitled should be produced, the greater would be to. The great increase of the revenue the opportunity for investigation. The and expenditure had greatly improved the right bon. gentleman had not pointed out situation in which the Bank stood with any inconvenience likely to result either regard to the public; the increase of the to the public service or to the Bank of profits of the Tellers of the Exchequer England, from acquiescing with the mo- had increased at an enormous rate from ion. He did not consider Parliament the same cause; and this was considered

1

as a good ground for inquiring into the peared, thrown aside, except the Assessed matter. The Bank of England stood in Taxes: and this part of his system the the same situation; and it was reasonable right hon. gentleman kept alive, until he that the public should know what their ascertained whether he could effect the profits were. All the arguments stated resuscitation of the Property Tax. If he by the Chancellor of the Exchequer went failed in that, he would, of course, render to prove the propriety of hastening, in the increased Assessed Taxes subservient stead of delaying the production of the to his purpose. From his plans, abortive accounts.

as they had been, at different times, it The House then divided :

was obvious, either that the right hon. For the previous question ... 9.4 gentleman was an unskillul and incomAgainst it

......... 75 petent financier, or that the capability of Majority... - 19 the country to bear a heavy weight of

taxation had come to a conclusion and After a few observations as to the point that there was no way of keeping up taxes of order from Mr. Tierney, Mr. Ponsonby, to the immense extent which was formerly and Mr. Grenfell, the seventh document the case. When the rigbe hon. gentlemoved for was agreed to, and the re man abandoned the Property Tax-when mainder were withdrawn to be proposed he made the celebrated funeral oration again to-morrow, that in the mean time over it, and commended it so highly and the Chancellor of the Exchequer might energetically-be stated, that there was a ascertain whether he had any objection to probability of its revival, but that such an them.

event could only take place in time of

war. He explicitly declared to the House PROPERTY Tax.] The order of the day and this was at a time when the cir. being read for the House to resolve itself cumstances which now exist could not be into a Committee of Ways and Means, contemplated, although there might be a the Chancellor of the Exchequer moved, feeling in his mind, that war was likely, “ That the 'Act 46 Geo. 3, c. 65, for from other causes, to break out—that in granting to his Majesty during the pre- no other slate of affairs, except that of sent war, and until the 6th day of April absolute hostilities, would this tax be renext after the ratification of a Definitive sorted to. He also gave the House to Treaty of Peace, further additional rates understand the Bourbons then being on and duties in Great Britain on the rates the throne of France that the peace estaand duties on profits arising from property, blishment of this country was likely to professions, trades and offices; and for re- call for 19 million per annum; but that, pealing an Act passed in the 45th year of under these circumstances, he was able to his present Majesty, for repealing certain furnish a scheme of taxation, that was parts of an Act made in the 43d year of fully adequate to meet this expense. The his present Majesty, for granting a contri. right hon. gentleman had now, however, bution on the profits arising from property, moved that the Property Tax should be professsions, trades, and offices; and to taken into consideration by the committee consolidate and render more effectual the -and here, on the question preliminary provisions for collecting the said duties, to the Speaker's leaving the Chair, he might be referred to the said Committee.” wished to understand from him and his

Mr. Whitbread rose and observed, that colleagues, what the true situation of the it was but a very short time since the country was ? Are we at peace, or at war? table of that House was covered with Pe. Is there any alternative? Or are we so titions, praying that the Property Tax situated that we must proceed to hosmight not be renewed ; and the right hon. tilities? He asked of the noble lord, was gentleman took an early opportunity- | it true that a Treaty had been signed at forestalling the public, as it were, from Vienna, by ministers, authorized or un. coming before Parliament with their pe- authorized, on the part of this country? titions of declaring his intention to Authorized or unauthorizedfor, be it reabandon that most obnoxious measure. collected, we were now accustomed to a He afterwards brought forward various state of affairs, in which ministers acted financial plans, and several new taxes, without instructions from the country which were adopted by the House in the whose foreign relations they were called shape in which they were proposed by upon to watch over. Hereafter, he supbim, Every one of these was, it now ap- posed, it would be seen whether they

and in that character they ought to see precluded from making further econothat the bargain made with the Bank mical arrangements, but these would be should be economical. He did not think more easily effected when the information formerly when the subject was before the should be laid before the House. Was it House, that the arrangement was so bene. not its duty at this period to endeavour to ficial as it ought to have been. Whenever save 3 or 400,000l. to the public? the time came that they should be un. Mr. Tierney asked, what possible objecfettered by any specific regulations in the tion there could be to immediale inquiry? statute-book, he hoped that a more benefi. The more documents the House had becial plan would be adopted; but at all fore them, the better judgment they events he hoped that a previous investi. would be enabled to form upon the subgation would take place.

ject. The only person who could be The Chancellor of the Erchequer explain-supposed to bave any desire to defer the ed, that he did not consider himself at investigation was the Governor of the liberty to withdraw the balance, nor to Bank ; but no reasons had been urged by vary the manner in which the business him for delaying the inquiry. was carried on. But he had no objection Mr. Marryat said, it was not the first to adopt any suggestion calculated to time in his life he had observed how very lessen the balance. On the contrary, differeptly men acted in their individual every means had already been adopted to characters, and as members of a corporaeffect that purpose.

tion; in the first capacity he had often Mr. Ponsonby was not sure that he un found them frank, liberal, and obliging; derstood the Chancellor of the Exchequer. and in the latter he had as often found Did he merely object to the production of them upaccommodating, narrow, and disthe accounts on that day, or at any period obliging. He could not help thinking, of the present session? If he only wished that the apprehension shown lest the pa. to fix another day, then he should have pers moved for should be produced, at no objection to agree to his proposal. But least proved that a very undue considera, if he should intend to postpone it to an tion was paid to the Bank of England for other session, then he should think it bis the management of the public concerns. duty to offer a few observations. He then Any gentleman could find private bankers, read the clause which engaged that no to manage bis money concerns, without alteration should take place in the mode any charge or any other advantage being of transacting the business, and that the derived by the bankers than the use of balances should not be withdrawn. There the balance left in his hands; the greater was no other restrictive clause to prevent the transactions the greater was the profit; Parliament from exercising its own judg- and therefore the immensity of the transment on that subject. Undoubtedly for a actions was of the greatest advantage to fixed period, it had no right to interfere the Bank on the banking principle. It with the existing arrangements ; neither was stated, that by a different system of was it the intention of his hon. friend, por management, 400,000l. might be saved; his own, nor that of any person in the and they found that 300,000l. more was House, to go in opposition to the pledge gained by paying their dividends to the given. One of the objections to the pro- public. When the Bank of the United duction of the accounts at this period, States paid all the dividends to the public was their being voluminous, and that it creditors without any charge ; surely, would require much time to make up where the transactions were so much one's mind on the subject. If the right more large, and were so much more hon. gentleman had spoken in favour of an object of emolument, they were less the motion, he could not have used a entitled to any allowance froin the pubstronger argument; as since the papers lic. It was his opinion, that the Bank were voluminous, and would require much did derive more from the public than in time for consideration, the sooner they fairness and liberality they were entitled should be produced, the greater would be to. The great increase of the revenue the opportunity for investigation. The and expenditure had greatly improved the right bon. gentleman had not pointed out situation in which the Bank stood with any inconvenience likely to result either regard to the public; the increase of the to the public service or to the Bank of profits of the Tellers of the Exchequer England, from acquiescing with the mo- had increased at an enormous rate from tion. He did not consider Parliament the same cause; and this was considered

as a good ground for inquiring into the peared, thrown aside, except the Assessed matter. The Bank of England stood in Taxes: and this part of his system the the same situation; and it was reasonable right hon. gentleman kept alive, until he that the public should know what their ascertained whether he could effect the profits were. All the arguments stated resuscitation of the Property Tax. If he by the Chancellor of the Exchequer went failed in that, he would, of course, render to prove the propriety of hastening, in- the increased Assessed Taxes subservient stead of delaying the production of the to his purpose. From his plans, abortive accounts.

as they had been, at different times, it The House then divided :

was obvious, either that the right hon. For the previous question ... 9.4 gentleman was an unskilful and incomAgainst it

75

petent financier, or that the capability of Majority ... -19 the country to bear a heavy weight of

tasation had come to a conclusion and After a few observations as to the point that there was no way of keeping up taxes of order from Mr. Tierney, Mr. Ponsonby, to the immense extent which was formerly and Mr. Grenfell, the seventh document the case. When the right hon. gentlemoved for was agreed to, and the re man abandoned the Property Tax-when mainder were withdrawn to be proposed he made the celebrated funeral oration again to-morrow, that in the mean time over it, and commended it so highly and the Chancellor of the Exchequer might energetically-be stated, that there was a ascertain whether he had any objection to probability of its revival, but that such an them.

event could only take place in time of

war. He explicitly declared to tbe House PROPERTY Tax.) The order of the day and this was at a time when the cir. being read for the House to resolve itself cumstances which now exist could not be into a Committee of Ways and Means, contemplated, although there might be a the Chancellor of the Exchequer moved, feeling in his mind, that war was likely, “ That the Act 46 Geo. 3, c. 65, for from other causes, to break out—that in granting to his Majesty during the pre- no other state of affairs, except that of sent war, and until the 6th day of April absolute hostilities, would this tax be renext after the ratification of a Definitive sorted to. He also gave the House to Treaty of Peace, further additional rates understand the Bourbons then being on and duties in Great Britain on the rates the throne of France that the peace estaand duties on profits arising from property, blishment of this country was likely to professions, trades and offices; and for re- call for 19 million per annum; but that, pealing an Act passed in the 45th year of under these circumstances, he was able to his present Majesty, for repealing certain furnish a scheme of taxation, that was parts of an Act made in the 43d year of fully adequate to meet this expense. The his present Majesty, for granting a contri. right hon. gentleman had now, however, bution on the profits arising from property, moved that the Property Tax should be professsions, trades, and offices; and to taken into consideration by the committee consolidate and render more effectual the -and here, on the question preliminary provisions for collecting the said duties, to the Speaker's leaving the Chair, he might be referred to the said Committee.” wished to understand from him and his

Mr. Whitbread rose and observed, that colleagues, what the true situation of the it was but a very short time since the country was ? Are we at peace, or at war? table of that House was covered with Pe. Is there any alternative? Or are we so titions, praying that the Property Tax situated that we must proceed to hosa might not be renewed ; and the right hon. tilities? He asked of the noble lord, was gentleman took an early opportunity- it true that a Treaty had been signed at forestalling the public, as it were, from Vienna, by ministers, authorized or uncoming before Parliament with their pe- authorized, on the part of this country ? titions of declaring his intention to Authorized or unauthorized-for, be it reabandon that most obnoxious measure. collected, we were now accustomed to a He afterwards brought forward various state of affairs, in which ministers acted financial plans, and several new taxes, without instructions from the country which were adopted by the House in the whose foreign relations they were called shape in which they were proposed by upon to watch over. Hereafter, he supbim, Every one of these was, it now ap- posed, it would be seen whether they

were authorized or not-hereafter, he that individual whom the noble lord had supposed, the instructions under which called "marshal Mural,' bur whom he (Mr. the noble lord opposite had acted, would Whitbread) would have thought the noble be produced. They would also, be trusted, lord would have been the first to call • king be put in possession of the instructions by of Naples.' Upon the answer that might which the duke of Wellington was autho- be given to several of these questions, rised to sign the Declaration published at would depend the propriety of going into Vienna on the 13th of last month. Or, a committee on the Property Tax, which perhaps, the House would be boldly in- could only be excusable in the event of formed by the noble lord, that boih he war, into which, he feared, we were about and the duke of Wellington had acted to be plunged headlong: the issue of it, without any authority whatever. He at all events, must be exiremely doubtful; wished to know, whether the Government and (if the Treaty to which he had alluded, of this country was committed in a war had in fact been executed) the object of against France? This, it was said, was it was unjustifiable on every ground of the fact; and that a subsidy was to be common sense, humanity, and national paid by this country to the Allied Sove- / law. reigns, the whole agreement being founded Lord Castlerengh said, that the questions on the Treaty of Chaumont; with this of the hon. gentleman had in view one of deplorable feature, that the Allied Sove. two objects-he wished either to learn reigns bound themselves, in no event to whether the notice of his right hon. friend treat with the present ruler of France. was one which the House ought to enterA decisive answer on this point, would, tain; or he was desirous of calling on he was convinced, be satisfactory, not them to discuss subjects not then before merely to bim, but to the House, and the them, and to give some opinion on various public in general. Farther, he should be topics connected with the foreign relations glad to know, whether in consequence of of the country. With respect to the first some indolence, or supineness, or neglect, object, it was a matter of discretion with or whatever else it might be called, on the House, whether the committee should the part of the noble lord who, when his go into an investigation of the necessity day of trial arrived, would have to ex- of resorting to the Property-tax, with re. plain the circumstance, an engagement ference to the general state of the country, had taken place between the troops of the and to the question of war or preparation King of Naples and the Austrian forces, for war. li was here to be considered, in which the latter were defeated ; and whether a case was to be laid before Parwhether the King of Naples had not in liament sufficient to justify the adoption of consequence taken possession of the city the measure which his right hon. friend of Rome, while the Pope had fled to the intended to propose to them. Now, as to North of Italy? It would seem as if the the first difficulty which the hon. gentleport-folio of ihe noble lord had a rent in man appeared to feel, with reference to it so large, that it let out many very im. the conduct of his right hon. friend, it portant papers, which had passed between might very easily be removed. His right him and various individuals connected hon. friend, in stating the reasons which with the late negociations at Vienna. No induced bim to abandon the Property-tax, person could read those papers without namely, that, in the then state of Europe, deeply considering them. He did not ask he did not think the country called for the noble lord to avow the document, but the continuance of that measure, although whether he disavowed it---because he did it would be necessary to devise some effnot expect that the noble lord would be cient taxes, did not go to the length the so bold and decisive as openly to give an hon. gentleman had described. The hon. arowal.it was a letter addressed to lord gentleman passed over this very rapidly. Castlereagh by the plenipotentiaries of He argued, because his right hon. friend

* The following is a copy of the Do- tentiaries of his Majesty the King of cument here alluded to:

Naples, have had the honour of addressing Note from the Plenipotentiaries of bis to his excellency my lord viscount Castle

Majesty the King of Naples, to lord reagh, principal Secretary of State of his Castlereagh, dated Vienna, 11th Fe-Britannic Majesty, for Foreign Affairs, an bruary, 1815.

official Note, dated the 291 b of December “ The undersigned Ministers, Plenipo- last, soliciting the conclusion of the deti

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