646 Notes of the Month on (June, 
pation for turning them out of their cabins, and sending them to exhibit 
the first energies of freedom, in enduring the miseries of famine, or 
taking revenge on the heartless poltroons who abandoned the constitution, 
or the high-talking and artful villains who tore it down. But if Eng- 
land may not be exposed to the first actual violence, she will not be suf- 
fered to escape the consciousness that she has plunged into a fatal act of 
misgovernment. The finances of England are tottering ; and the danger 
is not the less undeniable from her not being able to detect the cause. 
There is an undoubted decay of trade throughout the empire. A vast 
quantity of misery has already been the consequence, and it is more 
likely to increase than diminish. The Chancellor of the Exchequer 
has already been compelled to borrow. But let us allow him to state 
his own case, of which he takes the more specious part first. — “ It 
will be in the recollection of many honourable members on the Com- 
mittee, that when I brought forward the budget last year, I estimated 
the revenue at fifty-four millions, or, rather, 53,900,0001.; and my 
estimate of the expenditure during the same period was 50,100,0001., 
thus leaving, at the end of the year 1828, a surplus of 3,797,0001. 
to be applied to the reduction of the national debt. In making 
the calculation which I did at that period, I was anxious to keep 
as much within the sums as possible, in order not to give rise t 
any high and exaggerated expectations; and the result proves how 
wise and necessary it was to do so, for the committee will perceive, 
when I state the amount of revenue and expenditure in 1828, that the 
amount of the former, as well as the amount of the surplus, is greater 
than I contemplated, and is altogether most satisfactory. It appears 
that at the close of 1828 the amount of the revenue, instead of being 
54,000,0001., was 55,187,0001., and that the expenditure for the same 
period, instead of being 50,100,0001., was not more than 49,336,0001. ; 
thus leaving 2,054,000]. more than I calculated on, and a total surplus 
of 5,851,0001. applicable to the purposes pointed out by parliament.” 
This fine statement, however, is connected with one which is a full com- 
ment on its fallacy.“ The funding of three millions of Exchequer 
Bills is a measure which must have been long since anticipated.” No 
doubt it was anticipated by every man of sense, and it is not the less 
an evidence of financial failure ; and it will be anticipated that three 
times the amount must be called for before twelve months are over our 
heads, and yet the evil will not be lightened a grain by the anticipation. 
The truth is that the revenue is not equal to the expenditure, and the 
first sacrifice must be the Sinking Fund: that fund which old Lord 
Grenville, after spending thirty years of his life to defend and panegy- 
rize, has spent his last to vilify ; the distinction between his reasons for 
panegyric and contempt, being apparently no other than his having been 
in place in the former instance, and his being out of place at present, 5 
and hopeless of ever getting in again. That Sinking Fund must go, 
which the Duke of Wellington not a year since made a speech to 
justify, and declare the chief pillar of English finance; yet down 
must his very hand pull that pillar; and so will follow the rest with 
equal respect for protestation and policy. 
As to Mr. Goulburn’s flourishing statement, we must remember that it 
was the statement of last year ; that he has not dared to touch upon this 
year; and that the constitution was unbroken last year ; that we are 
under a Semi-Popish Legislature this year ; and.that the only fact which 
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