be the early product of the land tax, which otherwise would have gone to the consolidated fund.

Besides, in the distribution paper, it appeared that of the whole sum

of money granted to the island of Grenada, 150,0001. had not been sent, and therefore the gross sum of 2,994,000l. was left as an ex

cess.

The principal variation which appeared in the two budgets, in the statement of the ways and means for the year 1798, was in the article of the assessed taxes, which the minister had estimated in November at seven millions; but from the various modifications which had been made in what was called the Treble Assessment Bill, he stated them in April at the sum of four millions and a half.

Here Mr. Pitt alluded to a tax which though he did not mean to propose on that day, yet he thought it likely to receive the sanction of

the house; it had occupied a considerable share of the attention of the mercantile world, and had already been much discussed by the public. Without entering into a detail of the particulars, he remarked, that it referred to a state of war only he meant such a tax upon exports and imports as might not tend in the least to the diminution of trade. As a remuneration to merchants for the payment of this tax, the government were to appoint strong convoys, so as to lessen the expence on insurance.

Summary

502,000l. annually. He supposed that the salt consumed upon an average annually in every family composed of the labouring class of people amounted to no more than half a bushel. He proposed, therefore, to lay only 2s. 6d. on each family of this description. He then proposed a duty of five pounds per cent. upon tea which sold for more than half a crown per lb.; which tax, he said, would not touch that species of tea in general use among the poorer classes of the people. This tax he estimated to produce the sum of 111,5001.; for it was undeniable that the tea valued at above 2s. 6d. per lb. had considerably increased in the quantity of its consumption. The next subject to which he alluded as proper for taxation did not affect the necessaries of life, and the persons paying would have a choice either to make use of the article or not, which was a principle he wished to encourage. He wished to impose a duty upon every person using armorial bearings. He observed that it might be said, that he was a convert to the system of levelling, but he certainly proceeded upon very

opposite grounds, and was convinced that the country, instead of entertaining such sentiments, would be found ready to set a value upou that which was one of the most important links in society. Fashion and reason would therefore concur in giving effect to this measure. He therefore proposed that a tax of two guineas be imposed upon all persons using carriages decorated with armorial bearing; one guinea on those who were house-keepers and made use of plate decorated in the same manner; and 10s. 6d. on all other persons who were not house-keepers using their armorial bearings in other ways. The data upon which he proceeded to make an estimate of the produce of this tax were founded upon the in spection made by the heralds between 1615 and 1670, when it appeared that the number of the heads of families, by the last return given in the year 1670, amounted to 8405.-But allowing for many who had assumed armorial bearings since, he took the whole number at 9453, and the whole tax he estimated at 150,000.

763,150

would bear harder upon the lower orders of the people than the chancellor of the exchequer had stated; and that by the adoption of that tax, several manufacturers would be obliged to enlarge their capital, in

order

order to carry on their business. Mr. Samuel Thornton thought that the pressure of the new duties upon imports and exports would be much too severe upon the East-India

company.

Mr. Tierney made several observations upon the subjects of this second budget of the minister. He said, that if this loan was a proof of the high and flourishing situation of this country, and of the confidence of monied men in its resources, he was very glad to hear it. But he objected to the tax on salt. as falling too heavily on the lower classes of the people, The tax on armorial bearings he rather considered as whimsica); until that moment he never had learnt the utility of the right honourable gentleman's having created so many peers. He advised him, however, to class the orders of distinction; to charge, for instance, a certain handsome sum for a coronet, a smaller sum for a crest, and so on; by which the lower orders of society might be relieved from some of their burdens.

The resolutions were then severally put and agreed to. On the next day the report of the committee upon those resolutions were agreed to, and the bills ordered to be brought in, which were afterwards severally passed into laws, with very little variation from the shape in which Mr. Pitt first proposed them.

Before we conclude this chapter, we have to notice another measure of finance adopted this session, at the suggestion of the chancellor of the exchequer, namely the repeal of the tax upon clocks and watches, and the consolidation of the several

duties upon houses and windows. Agreeably to notice he had given, he moved the repeal of the abovementioned tax on the 14th of March. And as the exigencies of the state required that the deficiency should be made up by other means, he had the satisfaction of stating to the house, that the substitute he meant to propose in lieu of this tax, would be such as would afford as little discontent as possible. He remarked that the watch and clock duty had been calculated at about 200,000l. It was therefore requisite that whatever might be adopted instead should at least produce that sum; for this purpose he proposed an increase of the assessed taxes, in such way as would nearly accomplish this object. The produce of these taxes already amounted to about 1,400,000l. if therefore the intended increase was taken at a seventh of the whole, the sum thus obtained would a mount to the sum required. But as he could not move for a repeal of a tax, and also introduce another in lieu of it on the same day, it was therefore postponed a few days. Accordingly on the 19th of March, he informed the house that it was his intention to consolidate, and insert into one table, the various duties now existing upon houses and windows, and he wished them to be regulated according to a table which he then held in his hand, and which was afterwards printed for the inspection and consideration of the members.*

When the report of the committee on increasing the assessed taxes was taken into consideration on the 21st of March-the chancellor of the exchequer stated to the house the principle on which

be

he had brought forward his plan. The ratio which he had adopted, was that of laying an increased rate on each house in proportion to the number of windows. But in order to prevent windows from being stopped up, it had been found necessary in some parts of this scale to have a decrease instead of an increase. To use an uncommon expression, he observed, that the intended tax increased in a decreasing proportion.

Mr. Rose (the house having formed itself into a committee of ways and means on the 16th of May) remarked that the chancellor of the exchequer, when opening the budget to the house, and stating the ways and means, had taken credit for various sums, and among others, for a sum to be produced by some proposed new duties upon exports and imports. He first proposed a duty of one half per cent. upon British goods exported to Furopean markets: it had been at first intended to have made this duty much higher; but, upon deliberation, it had been found that it would be injurious to lay a large duty upon goods for those markets, because in some instances it might enable foreigners to undersell us. With respect to goods sent to America and the West Indies, he proposed a higher duty, because there was no danger of any competition. Upon goods exported to those places he therefore proposed a duty of two per cent. Goo is exported to Ireland and the East Indes he meant to exempt from any new duties. He estimated that the amount of the duty upon exports to European markets would produce the sum of 256,000l. including some regulations respecting sugar and coffee. With respect to the imports, he meant to propose a

greater duty, viz. one of three per cent. With regard to the imports from the East Indies, he meant that the duty should fall upon those articles which came in competition with our manufactures, such a cotton, &c. With respect to sugar and coffee, articles which were re-exported, this addition would not be prejudicial, because there was no danger of any competition with us as to those articles in the European market. The whole of these duties he estimated at the sum of 1,170,0001. In addition to this, he proposed a duty upon tonnage, whether British or foreign, varying in amount according to the place of destination. This duty he estimated at 208,000l. which, added to the duties upon exports and imports, would amount to 1,378,000l. This sum was short of what the chancellor of the exchequer had estimated these duties at. This difference had taken place from imposing a less duty upon the exportation of British goods to European markets than had been at first intended.

Mr.

The resolutions he had to propose, he said, were exceedingly numerous, because it was the wish of the merchants that the rates should be as specific as possible. Bryan Edwards, sir Francis Baring, and Mr. Tierney, made some ooservations upon the proposed duties: the first contended that the West-India planters, who imported to the value of eight millions annually into this country, were so far from having given their approbation of this measure, that they did not even know of it. Sir Francis urged, that these duties would fall very heavy upon goods sent to America; this he thought impolitic, because America was our best customer. With respect to the continuance of these duties, Mr. Rose assured