of stating the average produce of taxes lately imposed, and when the expenditure was clogged with arrears still remaining due, of the very heavy expences of the American war. But it was necessary at that juncture to have such a document laid before parliament, when the plan for applying a million annually towards the extinction of the national debt, was brought under their consideration. Now when, at the distance of five years from the inquiries of that first committee, the effects of both the new taxes imposed, and of the regulations for the more faithful collection of the old could be better ascertained, it seemed a very expedient measure to have the report of a new committee of the

present parliament, on the same subject of the public income and expenditure. A motion was therefore made for the appointment of such a committee, by the Chancellor of the Exchequer, on Friday the 8th of April," who should consider and report the amount of the public income and expenditure during the last five years; and that the same committee be also directed to inquire what the public revenue and expenditure might be expected to be in future; and what alteration had taken place in the amount of the national debt, since the fifth of January 1786." The result of the comparison made by this committee, between the annual income and expenditure, was as follows:

Balance in favour of the country

This report being referred to by the Chancellor of the Exchequer, in his account of the state of the finances, on Wednesday the 18th of May, became a subject of discussion in the House of Com

mons.

Mr. Sheridan remarked, That the report of the present committee shewed the fallacy of that estimate of future expence which had been made by the former committee in 1786. That estimate amounted to the annual sum of 14,478,1817.; whereas the actual amount, now stated by the present committee, is 15,969,1787: which, after the deduction of the annual million for discharging the national debt, exceeded the former report of the VOL. XXXIII.

£.16,030,285

15,969,178 61,107

future expence in the sum of 949,9977.

To this remark it was briefly replied, that the increase of the expenditure beyond the computation of the finance committee in 1786, arose chiefly from incidental charges, which that committee could not foresee, and which, in fact, made not any part of the permanent expence of the nation.

This subject was again brought forward, and more fully discussed in a committee of the whole House, on the 3rd of June, when Mr. Sheridan moved no less than forty resolutions; the principal purport of which was, First, To prove the mistake in the report of the committee of 1786, and to place it in a strong

T

light.

light. Secondly, To show a comparison between the public income and expenditure, on an average of three years, from the 6th of January 1788, to the 6th of January 1791; by which it was meant to shew that, even on the least and most favourable average, instead of there being a surplus, according to the report of the present committee. there was in fact a very great deficiency. Thirdly, To exhibit the amount of the sums voted for the service of the current year 1791: by which it might appear, that the expence of the present establishment was not only much beyond the estimated expence at the first committee, but also that of the last. Fourthly, That allowing the surplus calculated by the present committee on the ordinary income and expenditure of the nation, this surplus was inadequate to those extraordinary expences which appeared on the report of the committee itself, likely to be incurred; even without taking into consideration those unforeseen and unexpected articles of expenditure, in which, from the expence of the three last years, it seemed probable that the country might hereafter be involved.

Of this long series of resolutions the greater part were negatived, and others amended, according to the data laid down by Mr. Pitt, Mr. Rose, and other gentlemen on the same side of the House. To these were added other resolutions, arising out of such views of the subject as seemed proper for ascertaining the circumstances of the nation. The whole of these reso lutions, namely, the amended and the additional resolutions, were passed in the House of Commons, on the 7th of July.

6

2nd. Resolved, That it appears by the report of the select commit. 'tee of 1791, that the produce of 'the said permanent taxes in the year 1786, was 11,836,5311. being less by 960,940. than the sum estimated; in the year 1787, 12,754,795l., being less by 42,6762. than the said sum; in the year 1788, 12,812,952l., being more by 15,481. than the 'said sum; in the year 1789, • 13,209,8711., being more by • 412,4007. than the said sum; and in the year 1790, 13,782,3931., being more by 984,9221. than the said sum, including 193,000, being the amount of one fiftythird weekly payment.

That the produce of the said ' taxes, upon an average of the first two years (viz. 1786 and 1787) amounted to 12,295,663., being 501,8081. less than the sum estimated.

That the produce of the said taxes, upon an average of the first three years (viz. 1786, 1787, and 1788) amounted to 12,468,0921., being 329,3791. less than the sum ⚫ estimated.

That the produce of the said taxes upon an average of the last four years (viz. 1787, 1788, 1789 and 1790) amounted to 13,140,0027. 'being 342,5317. more than the sum 'estimated.

• That the produce of the said taxes, upon an average of the last 'three years (viz. 1788, 1789, and 1790) amounted to 13,268,405l. being 470,9347. more than the 'sum estimated.

And that the produce of the 'said taxes upon an average of the last two years (viz. 1789 and 1790) amounted to 13,496,132. being 698,6611. more than the 'sum estimated.

5th Resolved, That it appears by the report of the select com'mittee of 1791, that the total amount of the interest and charges of the public debt, and of the < sums issued for the reduction thereof, of the charges upon the

aggregate and consolidated fund, and of the sums granted for the 'supplies (including the deficiencies of the land and malt, the de ficiency of the grants for the year 1785, and the amount of the prizes in the lotteries of the several years, with the charges attending them, has been during the last five years 88,116,916., and that the whole of the above 'charges, except the sum of 207,000l. which remained to be provided for in the present year under the head of Deficiency o. 'Grants, has been defrayed by the produce within the said five years of the permament taxes, by the annual aids on land and malt, and by the sums arising from extra'ordinary resources, with the ad'dition of a loan of one million raised by tontine, and of 187,000/ raised by short annuities.

6th Resolved, That, over and above the sums granted for the supplies, there appears to have 'been an increase in the navy debt within the said period, which is stated at 457,950., and an arrear 'incurred in the ordnance, under the head of Unprovided, to the amount of 61,9097. and that the deficiency of grants of the year 1790 exceeds that of the year 1785, by the sum of 80,5901. 7th. Resolved, That the sum voted for defraying the expence of the arınament of 1790, and

'for

'examine and state the accounts

relating to the public income and 'expenditure, and to report what might be expected to be the annual amount of the said income and expenditure in future, have stated the expected future expenditure upon a permanent peaceestablishment, including the annual million to be paid to the 'commissioners, at the sum of ⚫ 15,478,1817.

upon a permanent peace establishment, including the annual million to be paid to the commission

the committee of 1791, on the 'five heads of navy, army, ordnance, militia, and miscellaneous 'services, above the estimate stated by the committee of 1786, on the same five heads, amounts to the sum of 434,2951.

12th. Resolved, That the expence of the present year, according to the services already voted, and exclusive of any extra expence for the present armament, will amount to about the sum of 16,833,9207., exceeding the per

'which is exclusive of the sum of 12,000l., since charged on the

of the national debt; 2,000l. on

which expence will not recur again; and an excess of 107,4847.

upon