GENERAL HISTORY. 



[77 



It was therefore piobable that in the course of the year, 



would be paid ofif by the Sinking Fund 11,500,000 



In Exchequer IJilis 1,500,000 



In Debentures and Loyalty Loan 1 ,024,000 



East India Debt '. 945,000 



Total et. 14,969,000 



thexe 



exclusive of what had been repaid 

 within the la^t year. It ^\ould 

 thus be seen that there was an 

 exceeding of about 3,500,0001. 

 over the sums borrowed for the 

 service of the year. But it might 

 be supposed, that wiien Ireland 

 was taken into the ways and 

 means, we should find our pro- 

 spects much changed. For a few 

 moments, however, he would take 

 the liberty to trespass on the de- 

 partment of his right hon. friend, 

 and to anticipate some few obser- 

 vations which he (Mr. Fitzgerald) 

 would othcnvise have had to bring- 

 forward in tlie able and satisfac- 

 tory manner in which lie always 

 made such statements. For Ire- 

 land, his right hon. friend in- 

 tended, this evening, to propose a 

 grant of 1,700,0001. in treasuiy 

 bills, in addition to which he far- 

 ther intended to move for a 

 grant of 1,200,0001. Irish, or 

 1,118,0001. English, making a 

 total of 2,818,0001., and adding 

 the sum which he had stated was 

 to be borrowed for England of 

 11,500,0001., would make a grand 

 total of 14,318,0001. Butagainst 

 this was to be set in addition to 

 the sums he had before-mention- 

 ed, the Irish sinking fund, which 

 Jie believed amounted to about 

 2,300,0001., and finally, the re- 

 duction he showed would be after 

 all little less than 3,000,(i00l. of 

 the united debt of the two king- 

 doms. — This, he trusted, would 



be found a most satisfactory view. 

 He believed it had very seldom 

 occurred that it h;id been found 

 practicable to reduce the public 

 debt immediately after the close 

 of a long Avar, before the nation 

 had properly got to its peace esta- 

 blishment. Instead of being able 

 to do this, it had commonly been 

 necessary to call for large loans 

 in the first year of peace. Under 

 such circumstances, though the 

 state of the country was not every 

 tiling he could wish, he was so 

 far from feeling apprehension, 

 that he coidd see nothing to fear, 

 if proper measures Avere pursued, 

 and every thing to hojie, from the 

 wisdom, firmness, and moderation 

 of parliament. He had now to 

 explain the manner in which he 

 proposed to pay the interest of 

 the money borrowed for the ser- 

 vice of the year. The charge in- 

 curred by the first advance of the 

 bank was for interest 240,0001. a 

 year, and for sinking fund 60,000l. 

 making together 300,0001., the 

 second would require for interest 

 90,0001., and for sinking fund 

 30,0001. together 120,0U0l., total 

 420,0001., "of this only 120,0001- 

 would be charged on the consoli- 

 dated fund. The soap tax would 

 produce about 200,0001., and the 

 new duties on butter and cheese 

 about 100,0001., if the trade con- 

 tinued as at present, or allowing 

 for its falling off about 50 or 

 60,0001. He further had it in 

 contemplation 



