797+] 
be prepared to communicate to their 
lordiips in any way whatever; and the 
Jate arrival‘f it was the caufe of the ab- 
fence of his majefty’s minifters. With 
regard to the feet at Portfmouth, he 
was happy to have itin his power to fay, 
that the failors had ail of «hem returned 
to the régular and ordinary difcharge of 
their duty; a cothmunication of which 
would foon be made'to the Houfe. 
On the 26th of April, the Houfe of 
Commons refolved itfelf into a committee 
of Ways and “Mcans, to which were 
ordered to be referred the feveral papers 
that had been preiented from the &amp- 
office, together with the report of the 
feleét committee of firfance. 
The CHaNncELLOR of the EXCHE- 
QUEK faid, that it was with profound 
regret he found’ himfelf under the ne- 
eeliity of laying a large additional bur- 
then upon the peopie. it was neceflary, 
however, ubder the prefent fevere 
prefiure, to convince the enemy and the 
world, that neither our {pirit, nor our 
refources, failed us. 
For the fake of brevity, we have given 
the following recapitulation of Mr. 
Pitrt’s ftatement of the fums wanted 
for the feryice of the year. -Our readers 
will be ftruck with amazement to find, 
that the total of the fupplies amounts to 
the enermous and unprecedented fum_ of 
FORTY-TWO M LLIONS, SEVEN 
HUNDRED AND SIXTY - SIX 
THOUSAND POUNDS! 
Navy - E s 2 £.12,661,0Cc0 
Army = 2 = = 6,600,000 
Exwraordinaries, 1795 - 353 57,000 
Treaiur, Bills and Warrants - 2,088,000 
Extraordinaries, 1797 — - - 4,090,000 
Ordnance ~ u = 1,623,000 
Barracks - - - - . 737,0c0 
Mifceilaneous Services ie = 929,000 
Grenada Merchants = - 600,0¢0 
Loan ie the Emperor - - 500,000 
To the Commiffioners for nay- ; s 
: : 2.00,C00 
ment of the national debt 
. Peficiency of Land and Malt = 350,000 
Bank advanced, 1795 - - 
1,054,000 
do, 1796 - = - 
1,330,000 
do. on Land and Malt - - 990,000 
do. on Exchequer bills - - 1,110,000 
Deficiency on the contolidated fund 2,177,000 
Vote of credit for1797 = =. 125990,;000 

Total £.42,,766,000 
es 
° 
The Chancellor of the Exchequer next 
‘ftated, at confiderable length, the ways 
and means to meet this large expen- 
diture ; 
State of Public Affairs —Briti~p Parliament. 
393 
The Land and Malt: = = £.2.750,000 
Surplus of Grants a - 420,000 
Loyalty Loan - = -.. 138,000 000 
Lottery - - - 200,069 
Exchequer Bills ar ie =  3,000,0c@ 
Growing produce of the confoli- 
dated fund. by eftimation 
Thefefums,with the prefent Joan 
for this country only, of 
; 2,000,008 
‘ 16 500.000 

would make the fum of 
£,- 42,870,009 
He. farther obferved, that- .of . the 
18,009,000l. to be borrowed, - one million 
anda half was for the fifter kingdom of 
Ireland. of which the intereft was to be 
provided by the Irifh parliament; an- 
other million and a half was to be lent to 
the Emperor, to enable him to repay the 
advances made by this kingdom, with a 
farther loan of two millions, if fanctioned 
by parliament, to affift our fasihful ally, 
in his prefent ftruggle of extremity, 
He fhouwl alfo propofe a diftinét vote, 
200,000]. to pay the-half yearly dividend 
on the Imperial loan, waich would. be 
{pent in this country, and prevent the 
neceffity of fending fo much money out 
of this kingdom to Vienna. 
He next proceeded to ftate the terms 
upon which he had contraéted for the 
new loan, He agreed that thofe terms 
were more unfavourable than any upon 
which money bad ever been borrowed in 
this cquutry. His terms were 125]. three 
per ‘cents: : “Zol., sour per cents.>/ sol. 
three per cents. reduced ; and 6s. 6d, 
long annuity; fubje€t, however, to the 
diminution of fix-pence long annuity, for 
every million’ lefs than eighteen. He 
took the funds at sol. for the three per 
cents.; 64]. for.the four per cents.; and 
the long annuities at fourteen years? 
purchate. Lest rd. 
The value of 125]. 3 per cents.is 62 10 © 
sol. 3 per cen's.red. 25 “Oo o 

ZOLA per Centias is tie aoe 
‘6s. 6d. Long: Annuity BOT oe 
£.104 17 0 
The profit, therefore, was .4l.17s. per 
cent. to which was added a difcount of 
al. inflead of 3]. per cent. for prompt 
payment, which made the whole bonus 
above 7l. ros. per cent. 
He then propofed the new taxes to pay 
the intereft of this loan, which antounted 
to’ 1,234,000]. 
Our limits only admit of giving a re- 
capitulation of the propoied taxes, which, 
after correéting fome inaccuracies com- 
mitted by this celebrated financier, will 
fiand as follows, accordyng to his efti-. 
mate of the produce: 
Increafed 
