Hope.-July 12. The Chancellor of the Exchequer said, he had to propose a grant for enabling his majesty's government to assist unemployed workmen of this country in removing to one of our colonies. It had been the wish of his majesty's govern ment, first to try on a small scale, how far it might be possible to employ the surplus population of this country in one of our colonies, in a manner advantageous to the people removed and beneficial to the country. From the satisfactory result of this expe. riment, government were now desirous of trying one on larger scale.

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The colony selected was that of the Cape of Good Hope. The greater part of the persons disposed to emigrate, rather wished to go to the United States of North America, where government could give them no direct encouragement, or to the British colonies of North America. But with respect to the latter, his Majesty's government, considering the inconvenience to which these persons would be exposed on their arrival, had selected the Cape as the colony to which emigration might be most advantageously directed. From the mildness of the climate and fertility of the soil, in some parts, a rapid and abundant return might reasonably be expected. The colony was also highly favorable to the multiplication of stock. The particular part of the colony selected was the south-eastern coast of Africa. It was at some distance from Cape town. A small town was already built there.

It was proposed to pay the

expense of the passage, and to secure to the settler the means of employing his industry to advantage on his landing on the destined spot. But, a small advance of money would be required from each settler before embarking, to be repaid him in necessaries at the Cape, by which means, and the assistance given him by government, he would have sufficient to procure him a comfortable subsistence till he got in his crops, which in that climate were of rapid growth. The Cape was suited to most of the productions, both of temperate and warm climates, to the olive, the mulberry, the vine, as well as most sorts of culmiferous and leguminous plants. The right hon. gentleman concluded with moving the grant of a sum of 50,000l. for the purpose of enabling government to assist emigrants to the Cape. The motion was agreed to.

The Budget. The proceedings of parliament on the im, portant subject of supplies, which we judge it convenient to throw together in a single article, commenced as early in the sessions as February 8th, when

Lord Castlereagh rose in the House of Commons to move for the appointment of a select committee to inquire into the income and expenditure of the country. He began by protesting against the appointment of such a committee being regarded as a thing of course. When, two years ago, he had adopted the plan he was now pursuing, he had stated that the then condition of the country required it; and he added, what

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the result proved, that the country might be satisfied that there was a gradual improvement in its financial circumstances, and that, ere long, a growing surplus of revenue, as compared with expenditure, would be discovered. His motive for moving for the committee so early was, that it might proceed with its deliberations without delay, and that the House might be in possession of a report which would show the real situation and fair prospects of the country. The first important point was the income of the country; and he would state the amount of the receipts for the quarter ending with the 5th of January 1818, with the quarter ending on the 5th of January 1819. The receipts on the former were 51,665,458/., and on the latter 54,062,000l., showing an increase upon the quarter ending January 5th, 1819, of 2,397,000l. It was material, however, to observe, that upon the sum first named there were certain arrears of war duties on malt and property considerably beyond 2,000,000l. which reduced the income to January 5th, 1818, to 49,334,9271. while the arrears of the same taxes up to January last amounted only to 566,639.; so that the produce of the permanent taxes for the latter quarter was in truth, in round numbers, 53,497,000l. being an improvement in the whole of 4,163,000l., deducting from both the amount of the arrears of each. Honourable members were likewise probably aware, that a considerable amount of the sugar duty had been admitted into the receipts for December 1818, which in fact belonged to the

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revenue for the preceding year, and which ought therefore to be added to the amount of the sugar duties of 1819: this would reduce the nett produce of 1818 to 48,724,000l.; the difference then, allowing for some other comparatively small deductions, would be 5,328,000l., or not less than an increase of 10 per cent on the ancient permanent taxes. It was impossible to announce to the House a more encouraging prospect than this state of things afforded. Taking in the increase of income and the reduction by economy of 650,000l., it appeared that the country was now in a better situation by 2,145,000%., than the former finance committee had ventured to anticipate, and adding to that the sum of 1,413,000/. on which the finance committee had calculated, total surplus of not less than 3,558,000l. was the result, applicable to the reduction of the national debt. Out of that sum, 1,000,000l. was to be taken for the amount of the interest on the loan; for it need not now be stated by him that his hon. friend had no intention of proposing any new taxes. But it was to be taken into consideration, that the revenue promised to be still more productive. Even in the single month of the year which had elapsed, there was a comparative increase of 30, or 35,000l. If, as might be expected, this increase should continue, it would not be too much to reckon it at 1,000,000l. on the whole year, which would again bring the surplus revenue to 3,500,000l. After entering into several details of the reductions which had been effected in the various military establishments,

establishments, the noble lord proceeded to state that this favourable situation of our finances was the more satisfactory as it proceeded from the industry, from every thing which consti

tuted the real and solid wealth of a people. A mistaken idea had gone forth that a great deal of commercial distress prevailed; that the exports had been considerably reduced, that the commerce of the country had sustained a severe and perhaps irreparable shock. But in fact the year 1818 had been the most splendid ever known in the annals of British commerce. The official value of its imports was 35,325,000l. being nearly 100,000l. beyond the year 1815, the great excess of which was assigned to temporary, fallacious, and unnatural causes.

Mr. Tierney attacked, at various points, the course pursued by the noble lord in bringing forward the finance measures of the present year. It was the duty, he contended, of a finance committee, to point out objects for retrenchment; but as those committees were now constituted, their reports were nothing but anticipations of the budget; and the noble lord's speech was nothing but an anticipation of those anticipations. He did not deny that there had been an improvement in our exports, but he argued that the important question was, how we were to get out of our difficulties? how we were to fill up the chasm in our finances? The chancellor of the exchequer had not ways and means exceeding 7,000,000l. The expenses of last year were not

less, he took it, than 21,000,000l.; allowing that those of this year would be 1,000,000l. less, how were the other thirteen to be provided for? How could any man in his senses say, that with an expenditure of twenty millions, and an income of seven, both ends would be made to meet, and a surplus left? It was a mere juggle to assert such a thing. Where was the sinking fund, or what had been said about that? It would be said, that there was a sinking fund of 14,000,000l., at least that it would soon nearly amount to that sum; but to support it, it would be necessary to borrow 13,000,000l. He conceived that instead of being in a prosperous, we were absolutely in a frightful situation; and if the world looked upon us with astonishment, he should only say, well they might, for he believed that never at any period did we present such a melancholy picture of financial derangement,-going on borrowing year after year, in time of peace, and flattering ourselves that we had a sinking fund to bring us out of our difficulties, when in fact we were obliged to support that by still borrowing.

After a defence of the proceedings of the finance committee by the chancellor of the exchequer, and some remarks from other members, the committee was appointed.

House of Commons, June 3.

Resolutions relative to the public Income and Expenditure.-The House having resolved itself into a committee on the public in

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come and expenditure, to which the first report of the finance committee and sundry documents were referred, the chancellor of the exchequer read the resolutions which he announced it to be his intention to bring forward. They were as follows:

1. That since the termination of the war in 1815, the property tax in Great Britain, and other taxes in Great Britain and Ireland, which yielded a revenue of upwards of 18,000,000/. per annum, have expired, or been repealed, or reduced.

2. That by an act passed in the 56th Geo. 3rd, c. 98, the revenues of Great Britain and Ireland were consolidated from the 5th of January, 1817; and that in the year preceding the said consolidation, the nett separate revenue of Ireland was, 4,561,353/., and the charge of the funded and unfunded debt of Ireland was, 6,446,8251. including therein the sum of 2,438,1246. as the sinking fund, applicable to the reduction of the debt; which charge exceeded the whole nett revenue of Ireland by the sum of 1,885,4721. without affording any provision for the civil list and other permanent charges, or for the proportion of supplies to be defrayed by that part of the united kingdom; and that no provision has been made by parliament to supply this deficiency.

3. That the supplies to be voted for the present year by parliament may be stated at 20,500,000l.

4. That the existing revenue applicable to the supplies, cannot be estimated at more than

7,000,000l. leaving the sum of 13,500,000l. to be raised by loan or other extraordinary resource.

5. That the sinking fund, applicable to the reduction of the national debt in the present year, may be estimated at about 15,500,000l. exceeding the above sum necessary for the service of the year, by about 2,000,000%. only.

6. That to provide for the exigencies of the public service, to make such progressive reduction of the national debt as may adequately support public credit, and to afford the country a pros pect of future relief from a part of its present burthens, it is absolutely necessary that there should be a clear surplus of the income of the country, beyond the expenditure, of not less than 5,000,000l., and that, with a view to the attainment of this important object, it is expedient now to increase the income of the country by the imposition of taxes to the amount of three millions per annum.

On June 7th, the House having again resolved itself into a committee on the first report of the committee of finance, the chancellor of the exchequer recapitulated the resolutions of that committee, commenting on them as he proceeded. Under the last, he enumerated the various articles on which he should propose an augmentation of imposts in order to meet the necessity which had been stated for the levy of 3,000,000l. by new taxes. These articles he afterwards recapitulated with their estimated amounts, as follows:

Conso

Mr. Tierney rose, and after inveighing with much severity against the imposition of 3,000,000l. of new taxes at the present juncture, when so many branches of expenditure still remained on which important reductions might be effected by a vigorous system of economy, concluded by moving the previous question on the two last resolutions of the committee.

After an animated debate, in which Lord Castlereagh, Mr. Brougham, and several other members took part, the House divided on Mr. Tierney's amendment: For the original motion, 329. For the amendment, 132: Majority, 197. The resolutions were then agreed to.

The Budget. These previous steps having been gone through, the House, on June 9th, resolved itself into a Committee of Ways and Means..

The Chancellor of the Exchequer observed, that as the House in the committee on the report of the committee of finance had already entered at large into the consideration of the general situation of the country with respect to its finances, and had sanction ed, by the resolutions to which

500,000

1,400,000

500,000

500,000

130,000

130,000

30,000

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it had agreed, the general principles on which he intended to ground the financial operations of the year, it only remained for him to submit to the committee the details of the plan by which it was proposed to carry them into effect. The House had also appeared to approve, though it had not yet confirmed by direct resolution, the measures he had proposed of rendering the sinking fund applicable to the public. service to a certain extent, by means of a loan contracted with the commissioners for the reduction of the national debt, under the sanction of the provision in the Sinking Fund act, commonly called Mr. Fox's Clause, and of making such provision as would render it unnecessary to resort for the future to annual loans. It was now his duty to describe the arrangements which it was proposed that parliament should adopt for the purpose of carrying that resolution into effect, so far as regarded the present year. In doing that, he should follow the usual course. He should, in the first instance, recapitulate the supplies that had been granted, and that it would still be neces sary to grant, for the service of the present year, and then state

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