tion, and Mr. Barham's amend ment, were withdrawn; and thus terminated the parliamentary proceedings in this business.

It is to be added, that a new writ for Westminster being issued, Lord Cochrane was re-chosen representative for that city, not only without opposition, but triumphantly. It is therefore to be sup

posed, that the Westminster elec tors were persuaded of his entire innocence; since mere party considerations could scarcely have induced them to connect themselves, in such an important relation, with a man who lay under a just suspicion of being in any manner a sharer in a scheme of public fraud.

CHAP

N June 13th, the House having resolved itself into a Committee of Ways and Means, The Chancellor of the Exchequer said, that he rose for the purpose of submitting, for the consideration and approbation of the House, the terms of the loan which had been that day contracted for. From the unavoidable absence of many members of that House, it was his intention to postpone, to a future opportunity, a great part of what he intended to say en the subject of the supplies and the ways and means, generally known by the appellation of the Budget. He would, therefore, confine himself to a brief statement of the supplies already granted, what remained to be voted, the ways and means to defray those charges, and the terms on which the loan had been contracted for. The House would

recollect that many items still remained to be provided for, among which were the army estimates, and also the sums necessary to defray the ordnance service, which would absorb a considerable portion of the ways and means of the year. The war taxes, amounting to 21,000,000l. might be considered as applicable to these two purposes-and he would state, in detail, the ways and means by which the remaining charges were to be met. By adopting this course of proceeding, he would bring under the consideration of the committee the supplies which had been granted, together with those that still might be wanting'; and next, the ways and means, before they came to the consideration of the loan. The right hon. gentleman then proceeded to state the different heads of supply as follow:

Making together the sum of

It would here occur to many gentlemen that he had not taken credit for the consolidated fund; but the reason of this was, that it fell so far short in the last year from what might have been expected from it; and therefore he thought it wiser to permit its growing profits to accumulate for some future time, than to make any further charge upon a fund which had disappointed their expectations. The right hon. gentleman then stated that in the Customs duties there had been a deficiency; but from the unfortunate fire which had happened at the Custom-house, he was not able to state on what articles the deficiencies had arisen. The amount of the Customs duties received was 9,818,000l. which was two millions short of the expectation that had been formed. In the Excise the produce had been considerably greater, and all the other branches had been compa. ratively flourishing. The stamp duties to the 5th of April, 1813,

3,000,000

508,545

22,000,000 18,500,000

67,708,545

amounted to 22,957,000l. and for the last year 23,971,000l. which gave an increase of about a million. The beer was not quite equal to the last year. In 1813, it produced 2,699,000l., and in 1814, but 2,585,000l. The produce of malt, for 1813, was 4,440,000l., and for 1814, 4,875,000l. making an increase of about 430,cool. The produce of British spirits for 1813, had been 2,632,000l. and for 1814, 2,969,000l. an increase of 300,000l. On Foreign spirits an increase had also taken place; in 1813, the produce was 2,325,000l., in 1814, 2,521,000l. being an increase of nearly 200,000l. Foreign wines, in consequence of the destruction of the vineyards in Portugal, had not been productive for many years, but there had been a rise in the last year from 947,000l. to 1,013,000l. Upon teas there had been an increase from 3,547,000l. to 3,652,000l.; and on the Postoffice an increase from 1,265,000l. to 1,289,000l., an increase which,

although

although trivial, yet proved the

benefit which had arisen from the new measures that had been

adopted. The assessed taxes, which included some of the taxes which had not been collected in 1812 in 1813, amounted to 5,880,000l. and in 1814, to 6,339,000l. being an increase of half a million. The land tax which was a fixed rate, in consequence of the progress of its redemption, was not quite so productive as the former year; its amount in 1813 was 1,081,000l., and in the last year but 1,000,059/. The remaining branch of the taxes was the property tax, upon which there had also been a considerable increase. The produce for 1813, was 12,868,000l.; for 1814, 14,485,000l.; making a surplus of 1,517,000l.

He had now stated the general produce of the revenue in detail, and this he thought the best mode of acting, as the House would be enabled to form a judgment on the produce of the different branches. The unfortunate event to which he had already alluded, namely, the fire at the Customhouse, prevented him from satisfying the House upon the increase of our trade, but he could with confidence state that our actual exports in the last year had exceeded in a most flourishing degree any other year which had preceded it. The last thing which he had to advert to, was the terms of the loan. He would, how ever, before he proceeded to make his statement on this subject, anticipate a question which his hon. friend opposite (Mr. Grenfell) would probably ask. He would perhaps inquire, whether any attempt had been made, in nego

eiating the late loan, to carry inte effect a clause contained in the Act of the 23d of his Majesty, for appropriating part of the growing produce of the sinking fund to the service of the year. In answer to this he had to observe, that all the parties who bid for the loan, with the exception of one gentleman, were averse to that proceeding. And looking to this general concurrence of opinion, it was thought that a better bargain could be procured by agreeing to the suggestion, than if any opposition were made to it : because, from the large amount of the loan, it was not probable that a great competition would have been produced, if, in negociating it, they had acted under the provision contained in the clause alluded to. Finding the opinion of the contractors generally hostile to the proposition, and seeing there was no probability, that, for a loan of 18,000,000l. any other bidders would come forward, besides those who attended on the occasion, it was thought advisable to coincide in their terms, and to make the loan on the old principle. The bargain was extremely satisfactory, being very much in favour of the public. Undoubtedly, at the present moment, when this country was at peace with all the world, except America, it was natural to expect that the loan would be negociated upon favourable terms, and he was extremely happy to say, that such terms had been obtained. It was thought necessary that part of the loan should be taken in the 5 per cent. This was not popular amongst the contractors, who were much better pleased with a bar