offices should be no longer banks or treasuries, but mere offices of administration. I propose, first, that the present paymaster and the treasurer of the navy should carry into the Exchequer the whole body of the vouchers for what they have paid over to deputy-paymasters, to regimental agents, or to any of those to whom they have and ought to have paid money. I propose that those vouchers shall be admitted as actual payments in their accounts, and that the persons to whom the money has been paid shall then stand charged in the Exchequer in their place. After this process, they shall be debited or charged for nothing but the money-balance that remains in their hands.

I am conscious, Sir, that, if this balance (which they could not expect to be so suddenly demanded by any usual process of the Exchequer) should now be exacted all at once, not only their ruin, but a ruin of others to an extent which I do not like to think of, but which I can well conceive, and which you may well conceive, might be the consequence. I told you, Sir, when I promised before the holidays to bring in this plan, that I never would suffer any man or description of men to suffer from errors that naturally have grown out of the abusive constitution of those offices which I propose to regulate. If I cannot reform with equity, I will not reform at all.

For the regulation of past accounts, I shall therefore propose such a mode as men, temperate and prudent, make use of in the management of their private affairs, when their accounts are various, perplexed, and of long standing. I would therefore, after their example, divide the public debts into three sorts,-good, bad, and doubtful. In looking over the public accounts, I should never dream of the blind mode of the Exchequer, which regards things in the abstract, and knows no difference in the quality of its debts or the circumstances of its debtors. By this means it fatigues itself, it vexes others, it often crushes the poor, it lets escape the rich, or, in a fit of mercy or carelessness, declines all means of recovering its just demands. Content with the eternity of its claims, it enjoys its Epicurean divinity with Epicurean languor. But it is proper that all sorts of accounts should be closed some time or other,by payment, by composition, or by oblivion. Expedit reipublicæ ut sit finis litium.1 Constantly taking along with me, that an extreme rigour is sure to arm every thing against it, and at length to relax into a supine neglect, I propose, Sir, that even the best, soundest, and most recent debts should be put into instalments, for the mutual benefit of the accountant and the public.

In proportion, however, as I am tender of the past, I would

1 It is the interest of the State that lawsuits should come to an end.

be provident of the future. All money that was formerly inprested to the two great pay offices I would have imprested? in future to the Bank of England. These offices should in future receive no more than cash sufficient for small payments. Their other payments ought to be made by drafts on the Bank, expressing the service. A check account from both offices, of drafts and receipts, should be annually made up in the Exchequer,-charging the Bank in account with the cash balance, but not demanding the payment until there is an order from the Treasury, in consequence of a vote of Parliament.

As I did not, Sir, deny to the paymaster the natural profits of the bank that was in his hands, so neither would I to the Bank of England. A share of that profit might be derived to the public in various ways. My favourite mode is this,-that, in compensation for the use of this money, the Bank may take upon themselves, first, the charge of the Mint, to which they are already, by their charter, obliged to bring in a great deal of bullion annually to be coined. In the next place, I mean that they should take upon themselves the charge of remittances to our troops abroad. This is a species of dealing from which, by the same charter, they are not debarred. One and a quarter per cent will be saved instantly thereby to the public on very large sums of money. This will be at once a matter of economy and a considerable reduction of influence, by taking away a private contract of an expensive nature. If the Bank, which is a great corporation, and of course receives the least profits from the money in their custody, should of itself refuse or be persuaded to refuse this offer upon those terms, I can speak with some confidence that one at least, if not both parts of the condition would be received, and gratefully received, by several bankers of eminence. There is no banker who will not be at least as good security as any paymaster of the forces, or any treasurer of the navy, that have ever been bankers to the public: as rich at least as my Lord Chatham, or my Lord Holland,” or either of the honourable gentlemen who now hold the offices, were at the time that they entered into them; or as ever the whole establishment of the Mint has been at any period.

2 Imprested (a very rare word) is advanced on loan. So, in the case here supposed, the government would advance money to the bank for payment of the army, and take a certain rate of interest on the money while it remained in the hands of the bank.

3 William Pitt the elder was for some time paymaster of the forces in the Pelham ministry; as Henry Fox, afterwards Earl of Holland, also was, under the Duke of Newcastle. It may be easily understood that, though the paymaster was not greatly enriched by his salary, yet, as he had the use of the money while it lay in his hands, his office was one of the most lucrative in the State; sometimes no less than £40,000 a-year.

These, Sir, are the outlines of the plan I mean to follow in suppressing these two large subordinate treasuries. I now come to another subordinate treasury,- I mean that of the paymaster of the pensions; for which purpose I reënter the limits of the civil establishment: I departed from those limits in pursuit of a principle; and, following the same game in its doubles, I am brought into those limits again. That treasury and that office I mean to take away, and to transfer the payment of every name, mode, and denomination of pensions to the Exchequer. The present course of diversifying the same object can answer no good purpose, whatever its use may be to purposes of another kind. There are also other lists of pensions; and I mean that they should all be hereafter paid at one and the same place. The whole of the new consolidated list I mean to reduce to £60,000 a-year, which sum I intend it shall never exceed. I think that sum will fully answer as a reward to all real merit and a provision for all real public charity that is ever like to be placed upon the list. If any merit of an extraordinary nature should emerge before that reduction is completed, I have left it open for an address of either House of Parliament to provide for the case. To all other demands it must be answered, with regret, but firmness, "The public is poor."

I do not propose, as I told you before Christmas, to take away any pension. I know that the public seem to call for a reduction of such of them as shall appear unmerited. As a censorial act, and punishment of an abuse, it might answer some purpose. But this can make no part of my plan. I mean to proceed by bill; and I cannot stop for such an inquiry. I know some gentlemen may blame me. It is with great submission to better judgments that I recommend it to consideration, that a critical retrospective examination of the pension list, upon the principle of merit, can never serve for my basis. It cannot answer, according to my plan, any effectual purpose of economy, or of future permanent reformation. The process in any way will be entangled and difficult, and it will be infinitely slow there is a danger, that, if we turn our line of march, now directed towards the grand object, into this more laborious than useful detail of operations, we shall never arrive at our end.

The King, Sir, has been by the Constitution appointed sole judge of the merit for which a pension is to be given. We have a right, undoubtedly, to canvass this, as we have to canvass every act of government. But there is a material difference between an office to be reformed and a pension taken away for demerit. In the former case, no charge is implied against the

holder; in the latter, his character is slurred, as well as his lawful emolument affected. The former process is against the thing; the second, against the person. The pensioner certainly, if he pleases, has a right to stand on his own defence, to plead his possession, and to bottom his title on the competency of the Crown to give him what he holds. Possessed and on the defensive as he is, he will not be obliged to prove his special merit, in order to justify the act of legal discretion, now turned into his property, according to his tenure. The very act, he will contend, is a legal presumption, and an implication of his merit. If this be so, from the natural force of all legal presumption, he would put us to the difficult proof that he has no merit at all. But other questions would arise in the course of such an inquiry,—that is, questions of the merit when weighed against the proportion of the reward; then the difficulty will be much greater.

The difficulty will not, Sir, I am afraid, be much less, if we pass to the person really guilty in the question of an unmerited pension: the Minister himself. I admit that, when called to account for the execution of a trust, he might fairly be obliged to prove the affirmative, and to state the merit for which the pension is given, though on the pensioner himself such a process would be hard. If in this examination we proceed methodically, and so as to avoid all suspicion of partiality and prejudice, we must take the pensions in order of time, or merely alphabetically. The very first pension to which we come, in either of these ways, may appear the most grossly unmerited of any. But the Minister may very possibly show that he knows nothing of the putting-on this pension; that it was prior in time to his administration; that the Minister who laid it on is dead: and then we are thrown back upon the pensioner himself, and plunged into all our former difficulties. Abuses, and gross ones, I doubt not, would appear, and to the correction of which I would readily give my hand: but when I consider that pensions have not generally been affected by the revolutions of Ministry; as I know not where such inquiries would stop; and as an absence of merit is a negative and loose thing; one might be led to derange the order of families founded on the probable continuance of this kind of income ; I might hurt children; I might injure creditors;-I really think it the more prudent course not to follow the letter of the petitions. If we fix this mode of inquiry as a basis, we shall, I fear, end as Parliament has often ended under similar circumstances. There will be great delay, much confusion, much inequality in our proceedings. But what presses me most of all is this, that, though we should strike off all the unmerited

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pensions, while the power of the Crown remains unlimited, the very same undeserving persons might afterwards return to the very same list; or, if they did not, other persons, meriting as little as they do, might be put upon it to an undefinable amount. This, I think, is the pinch of the grievance.

For these reasons, Sir, I am obliged to waive this mode of proceeding as any part of my plan. In a plan of reformation, it would be one of my maxims, that, when I know of an establishment which may be subservient to useful purposes, and which at the same time, from its discretionary nature, is liable to a very great perversion from those purposes, I would limit the quantity of the power that might be so abused. For I am sure that in all such cases the rewards of merit will have very narrow bounds, and that partial or corrupt favour will be infinite. This principle is not arbitrary, but the limitation of the specific quantity must be so in some measure. I therefore state £60,000, leaving it open to the House to enlarge or contract the sum as they shall see, on examination, that the discretion I use is scanty or liberal. The whole account of the pensions of all denominations which have been laid before us amounts, for a period of seven years, to considerably more than £100,000 a-year. To what the other lists amount I know not. That will be seen. hereafter. But, from those that do appear, a saving will accrue to the public, at one time or other, of £40,000 a-year; and we had better, in my opinion, to let it fall in naturally than to tear it crude and unripe from the stalk.

There is a great deal of uneasiness among the people upon an article which I must class under the head of pensions: I mean the great patent offices in the Exchequer. They are in reality and substance no other than pensions, and in no other light shall I consider them. They are sinecures; they are always executed by deputy; the duty of the principal is as nothing. They differ, however, from the pensions on the list in some particulars. They are held for life. I think, with the public, that the profits of those places are grown enormous; the magnitude of those profits, and the nature of them, both call for reformation. The nature of those profits, which grow out of the public distress, is itself invidious and grievous. But I fear that reform cannot be immediate. I find myself under a restriction. These places, and others of the same kind, which are held for life, have been considered as property. They have been given as a provision for children; they have been the subject of family settlements; they have been the security of creditors. What the law respects shall be sacred to me. If the barriers of the law should be broken down, upon ideas of convenience, even of public convenience, we shall have no longer any thing certain among us.