i265 
Statistics. 
oply was funded in the 5 per cents, instead of 12,000,000/. as In th^? 
recent instance, the expense created was 6/. 4.9. 7\d. per cent. In 
the recent instance the expense created was 6/. 5<9.0.Jc/., percent., 
making a difference of onlyfive-pence iialfpenny per cent, between 
the two charges. The difference in the 3 per cents, in the two 
years v/as much greater. Last year the expense was 5l. 13.v. od. 
per cent.; this year the expense was 6/. 49. 1^-d. Last year the in- 
terest was 4/. 49. 2d. percent.; this year it was 4/. 149. 11c/., mak- 
ing a difference of above I Os. per cent. This was to him a satis- 
factory rejection, as he had so pertinaciously persisted in procur- 
ing tlie whole of the 12,000,000/. to be funded in the hve per cents. 
Having thus stated that the whole of the charges created by 
b.otb loans, was 1,215,319/. he Bhouicl next submit to the commit- 
tee the mode by v/hich he proposed to meet these charges. Be- 
ibre he did this, he must add, that it was his intention to recom- 
mend a repeal of the duty on liats, v/hich, ever since he came into 
office had continued to decrease in amount. When this tax was 
lirst levied it produced 60 or 70,000/. He did not suppose that 
fewer hats were v/orn than formerly ; but the fact was, that the 
produce of the duty last year was only 29,332/. It had been gra:> 
dually diminishing. In 1808 it was 33,000/. ; in 1809, 33,000/. ; in 
1810, 31,009/. ; and in 1811, as he had already stated, only 29,332/. 
This wxis a rapidly decreasing ratio. He was aware, therefore, 
that in giving up the duty he did not give up much, for it was gra- 
dually wearing itself out. It was the cause of great vexation and 
trouble to the persons carrying on the trade of hat dealers, and 
particularly to those who dealt on fair terms, over whom the deal- 
er who was disposed to second the fraudulent wishes of his ctft- 
tomers, by omitting the stamp, had a very unmerited advantage. 
The comniittee was aware that a similar duty on gloves had for- 
merly been abandoned. Before he came to the resolution of pro- 
posing the repeal of the duty on hats, lie had seriously considered 
'vdiether it might not be collected in some other manner ; but after 
a good deal of deliberation, he was persuaded that no mode could 
be adopted which would not be so inconvenient to the trade and to 
the public, as to render it highly unadvisable. He begged leave to 
observe, that if in consequence of the repeal of this tax, it should 
happen that any persons might be led to imagine, that although 
the duties on gloves and hats were abandoned, it might be expedi- 
ent to impose others on coats, waistcoats, shoes, or leather breech- 
es, and in consequence tg suggest such new duties to government, 
