2.36 
17,397,2801. exclufive of a aebt due 
from government to the bank, amount- 
ing to 11,686,800l. Independent of that 
debt, the balance in favour of the funds 
of the bank, was, therefore, 3,826,39o0l. If 
the debt due by government, be added, 
the bank appears to have the fum of 
15,613, 6gol. over and above what will pay 
its debts. 
According to an account delivered into 
the Houfe of Commons, by Mr. Abraham 
Newland, the following fums of money 
are the outfianding advances made by the 
bank for the public fervice, till the 9th of 
March, 1797: 
Advanced on land and mait from 
the year 1794 till 1797 £-§;911,000 
On the confolidated fund, 1796 1,323,000 
“Vote of credit - - $11,4c0 
Advanced on treafury-bills, tilfgth 
of March, 1797 ~ = AG0235210 
Advanced to the lords of the trea- 
fury, on exchequer-bills to the 9th: 
of March, 1797 - =) 2 GO4000 

i 4 
ve p £- 10,238,510 
Lean to government on unclaimed 
dividends without intereit - 376,ac0 
es 

< 
jf. 10,614,610 

Total intereft. - 580,070 
SET eG ceo 
which, fortunately for our anceftors, 1s 
without an example in the former annals 
of this country; atranfaétion which, we 
fear, is deeply connected with a general 
derangeinent in our finanicial affairs. At 
fuch a crifis. our readers, will, doubtlefs, 
be gratified with afew ftatements relative 
to the latter {ubject. They are extraéted 
from a celebrated pamphlet, written by 
the earl of Lauderdale, and entitled, 
« ‘Vhoughts on Finance.” 
His lordthip begins by fhowing from 
authentic documents, that within the 
fhort fpace of one tevelwemonibh (icom the 
sth, December, :795,t0, 7th December, 
7799) taxes have been impofed on the 
people of this country, which exceed the 
whole churge created by the firfifix years of 
tbe American war, by ONE MILLION 
AND A HALF, and Which, exceed the 
qohole of the taxes iaid on during that 
war from 1774, to 5:h of January, 1782. 
‘He afterwards fhows, thar to fupport 
this inglorious and difaftrous war, the 
prefent minifier has impofed, inone fngle 
day, permnanent taxes, nearly equal to the 
whole charge of the moft, glorious, and 
the moft expenfive war (except the laft) 
in which Britain ever was engaged. 
Public Affairs —Lord Lauderdale’ s Pamphlet. 
March, 
Total charge of debt, funded and un- 
funded, contracted in the courfe of the ~ 
feven years (lord Chatham’s.) war 
£ 2,424,104 
Taxes laid on in one day, De- 
, cember-ath r796..° 0a 2,132,000: 
‘The charges of the prefent war, he next 
proves exceed the total charge of the 
whole national debi antecedent to 1782. 
Total charge of debt (1. e. taxes) created 
by the prefent war £-6,701,0¢c0 
Total charge of the national R 
debt, to 5thof January, 1782--6,688,000 
Excefs during the prefent war 13,000. 
After pointing out, in the cleareft 
manner the blundering and delufive 
mode of financeering carried on by the 
prefent minifter,. his lordfhip proceeds to. 
ftate the charge and receipt created fince 
the year 3792; and next fhows the enor- 
mous deficiency which is likely to occur 
in the receipts and which muft be fup- 
plied by new taxes, even if a peace were 
to take place in the courfe of this year > 
Charges fince the war £. 6,824,852. 

—= 

Revenue to difcharge this 6,203,666 
Deficiency 621,186. 
Upon a full inveftigation of Mr. Pitt’s 
{yftem of finance, lord Lauderdale has 
made it appear that.the minifter has kept 
Out of view an expenditure of 9,401,624]. 
for which he ought to have provided: 
taxes on the principles he himfelf laid 
down. 
This year (1797) the minifter propofed 
to parliament, impofitions to the extent of 
2,133,0col. yet it appears he has lefe 
1,046,0001. for which farther taxes 
ought to have been impofed. 
His lordthip then enters into an accu- | 
rate ftatement of the gloomy profpeét the 
people of England have before them after 
having fo long laboured under a heavy 
burden of taxes. ‘ If a peace were to. - 
be reftored (fays he) at the end of this 
vear, the deficiency in the receipt to be 
fupplied by new taxes muft be 3.231,1261. 
and the total expenditure 25,860,725 1.” 
Hence it follows, that if this contef 
be perfevered in, taxes muft be provided, 
and the Peace expenditure increafed, to 
the following extent: 
New taxes. Peace expendit. 
Tfto the end of 1798 —5,251,126—27,800,725, 
3799—7,231,126—29,860,725 
1$00---9,2 31,126——31,860,725. 
“ The rapid and unparalleled aug- 
mentation of the war expenditure: (lays: 
LordLauderdale) renders it dificult, with 
accuracy, to aicertain what additional 
charge. } 
