40] 
which he estimated the surplus 
of the consolidated fund, at that 
amount: and they would view 
with pleasure the increased re- 
sources of the country. It might 
also be proper that he should show 
the grounds on which he intend- 
ed to propose on a future day a 
grant of 22,000,000/. out of the 
growing produce of the war taxes. 
He should not call upon them to 
come to this vote that night, as it 
was more consistent with the 
forms of Parliament, that some 
portion of the ways and means of 
the year should be reserved for a 
time to meet any future grants 
which might yet be made in 
the course of the  session.— 
He, however, considered himself 
justified in taking the war taxes 
at 22,000,000/.; the lottery he 
took at 250,000/.; old naval stores 
at, 508,000/.; the vote of credit 
he had stated at 6,000,000/.; the 
exchequer bills funded, and the 
loan in the five per cents would 
give 18,185,000/. The second 
loan 27,000,000/. These were 
the ways and means by which he 
proposed to meet the charge of 
the year, immense as it was.— 
The total amount of them was 
79,893,5001. This sum fell a 
little short of the supplies; but 
upon the whole he expected the 
ways and means which he had 
enumerated would provesuflicient, 
It was his peculiar duty this day 
to state the terms on which the 
Joan had been contracted for the 
service of the public. It had been 
the object of the treasury to dif- 
fuse the loans called for, over dif- 
ferent species of stock, in order to 
divide the burthen, to remove all 
inconyeniences to the public cre- 
diter, and to provide for the exi- 
ANNUAL REGISTER, 
1815. 
gency on the easiest terms. This 
would be seen by adverting to 
their former proceedings in the 
course of the session. It had been 
proposed to tund 18,000,000/. of 
exchequer-bills. This, in the first 
instance, they had not been able 
to effect; but subsequently on a 
loan in the 5 per cents subscribers 
had gone beyond the 18,000,000/. 
by a sum of 135,000/. The sum 
therefore, of 18,135,000/. was 
thus placed in the ways and means. 
The committee were aware, that 
by the loan that day, no less a 
sum than 27,000,000/. for Eng- 
land was to be raised ; and as the 
5 per cents were sufficiently bur- 
thened, it became necessary that 
this should principally fall on the 
3 and the 4 per cent stocks. It 
was originally proposed that a 
larger sum should be taken in the 
4 percents; but on the subscrib- 
ers objecting to this, 10/. per 
cent only had been given out 
of that stock; 130/. had been 
taken from the 3 per cent re- 
duced, and the remaining part 
of the 1002. was to be by a bid- 
ding in the 3 per cent consols.— 
Ithad happened singularly enough, 
as it had once on a former occa- 
sion, about 18 months ago, “that 
the sum offered by the subscrib- 
ers, was exactly the minimum of 
what the treasury had resolved to 
accept.” This was a circumstance 
so far satisfactory, as it went to 
show that both parties met on fair 
and honourable terms, and arriv- 
ed at the same point from reason 
ing in different ways. What fur- 
ther proved the correctness of the 
view which had been taken of the 
case was, that four different calcu 
lations had been made by four 
different persons, and all had con- 
