HISTORY OF EUROPE. 
that which was disposable after the 
payment of the interest of the nati- 
onal debt, and charges of the sink- 
ing fund : this was stated as amount- 
ing to 10,599,000/. to which was ad- 
ed, after the produce of the lottery 
(in calculating which, there was an 
egregious mistake) —the expected 
contribution of 500,000. from the 
revenues of India, In this part of 
his speech, his lordship took occasi- 
on to panegyrize the adiministration, 
and the abilities.of the noble mar- 
quis, at the head of the government 
of India, whose talents great as they 
were in negotiation, war, and civil 
government, were exceeded _per- 
haps by those he possessed for mat- 
‘ters of finance, a ground upon which 
his. enemies had unaccountably 
strove to calumniate him: but this 
reference, his lordship observed, 
materially depended upon the conti- 
nuance of peace in India: this and 
other points made the supposed to- 
tal of the ways and means to be 
11,595,000/. which after deducting 
the hypothetical expenditure, as 
set forth in the same document, 
left. an imaginary surplus of 
1,032,000/. In controverting these 
statements, his lordship entered in- 
to a variety of detailed calculations, 
drawn, as he had before observed, 
from the accounts signed by the 
secretary to the treasury. He first 
adverted to the different heads of 
proposed reduction, upon which 
the foregoing calculations were 
drawn, and which, it would be su- 
perfluous to observe, were, in the 
present circumstances of this coun- 
try totally out of the question. He 
would consider what the actual 
Situation of the country now would 
be, were the’ proposed reductions 
carried into effect. Under the head 
of the army, to reduce the expenses 
135 
in the sum proposed, a number of 
about 25,000 men should be reduc- 
ed, which, according to the plan of 
disposing the forces, would, at about 
the period of the delivery of the 
king’s message, not have left one foot 
soldier in Great Britain! In #re 
head of reduction proposed for the 
navy, about 1,540,000/,° was ins 
tended to be saved, and to do this, 
he calculated about 18,000 men 
must be dismissed: ‘* this, accord- 
ing to the newly broached doctrine, 
that ships might be ready for sea 
without men, might be practicable 
enough, but were the reduction ac- 
tually made, we should now have 
no navy ‘fit for service!” After 
shewing the impracticability of 
those intended reductions, and cal- 
culating upon the indispensable ex- 
penses of the actual establishment, 
as arranged even in November last, 
it would be 13,436,000/. A dimi- 
nution was. a consideration of possi- 
bility ; but a considerable increase, 
one of great probability. His lord- 
ship then proceeded to the conside- 
ration of the real income of the 
nation, and after touching upon the 
various sources from whence it was 
derived, and the absolutely neces- 
sary charges to be made thereon, he 
calculated the total of the ways and 
means to meet the real expenditurg 
at not more than 9,682,000/,, He 
then adverted to the Austrian loan; 
upon which, after commenting on 
its origin, and the important cir- 
cumstances connected, with that 
measure, he declared it his opinion, 
that it behoved parliament to make 
provision for the interest of it, 
which he stated at about 497 ,000Z, 
Pursuing the line of general calcu- 
lation farther, he stated that the 
free revenue amounted to about 
9,185,000], which caleulated tox 
K 4 gether 
