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a treble rate would raise, in the course of the year, a sum not less than Seven Millions Sterling. This burden would be diffused among all the Householders of the Kingdom, according to as fair a criterion as any which we believe can be adopted: it would not; we are persuaded, amount to such a proportion of the annual expenditure of each individual, as to be thought a painful sacrifice, by any one who has a just notion of the value of the objects now at stake. By this measure, and by such a reduction of expence as the present scale of the War will probably admit of (without preventing the most vigorous and active exertions against the Enemy), the amount of the Loan may be reduced within moderate limits. No material present inconvenience can, in that case, be incurred from the addition to the Capital of our Funded Debt. Since the period of the last Loan, which took place in the Spring of the present year, a sum of nearly Three Millions Sterling will have been applied in the last three quarters to the extinction of the old Debt which then existed; and the sums applicable to the same purpose in the course of the year 1798, will be little short of the further sum of Four Millions. We hope, how. ever, that notwithstanding the rapid progress by which we are advancing in the discharge of the old Debt, Parliament will not suffer the Capital created by the new Loan to be a permanent burden on the Country. It will be much wiser, in our opinion, to determine at once to prolong the Treble Assessment, or any other extraordinary Taxes which may now be imposed, for such a period after the Peace as may be sufficient to extinguish the whole ada ditional Capital to be created by any fresh Loan.
In point of real economy, it is evident that such a measure would ultimately save to the Public more than VOL. I.
two, or perhaps three times the sum to be borrowed.
This excess will be unavoidably sacrificed according to 'the ordinary mode of funding. • But what is of still more importance, it will at once convince the Enemy, that they can no longer hope to exhaust our Credit, by the continual accumulation of a Capital entailed upon the Country for a long period. The contest will be maintained either from Resources furnished within the year, or by Loans so soon to be repaid as not to affect our future situation.
In the detail of the plan, we understand it is intended, · for very obvious reasons, to make the last Assessment in the present year the rule according to which every man is to contribute in a treble proportion during the whole period of the Assessment; unless where persons who may have diminished their establishment in the articles on which the present Assessed Taxes are levied, shall declare that the amount of their disposable income is less than in some given proportion to the Tax. This regulation answers most of the comments we have seen in different Newspapers, objecting to the efficiency of the plan. Without some regulation of this sort, it is clear, that all persons who were disposed to evade contributing in a just proportion to the public necessities, might do so. They would reduce for that purpose the number of their servants, horses, or carriages, though their circumstances did not really require it. On the other hand, the allowing an abatement to those who shall accompany the reduction by a declaration of the real proportion of their income, will afford relief in all cases which might otherwise be attended with hardship · It may perhaps also be thought right, that the less opu. lent classes (those who are charged under a certain sum in
the present Assessment, which sum must be specified in any Aet for the purpose,) should not be required to contribute to the full extent of a treble rate, but only in some smaller proportion. Even in some of the higher classes, it may be possible to make some gradation in the scale according to which each is to contribute. But these details are of inferior consequence: the essential point, in our opinion, and which we think may be effectually accomplished by this scheme, is this, to provide for the Supplies in such a mode, as to prevent an inconvenient accumulation of Funded Debt, and by doing so, to disappoint and confound all the vain and presumptuous hopes and insolent menaces of our Enemy.
« The CHANCELLOR of the EXCHEQUER, in the Debate of Friday
“last, complained that the use which the English Press made of
Having in our Introduction to This Paper, explained the reasons which will necessarily prevent our accumulating distinct instances of Falsehood and Misrepresentation in our earlier Numbers, we should yet have been
Ps to correct.
unwilling to send it forth into the world without some specimen of the manner in which this part of our task is intended' to be executed; and we think ourselves singularly fortunate in having found, on the very first day of our first week, and in the most conspicuous column of what, by the courtesy of the Daily Press, is styled the Leading Paper of The Party, so fruitful an example of all that we think it our duty, and shall make it our business, to correct.
The Paragraph before us, is indeed eminently characteristic of Jacobin feeling, without being 'very creditable to Jacobin talents. It would be difficult to assert more audaciously what is wholly untrue --- to distort more perversely an evident meaning - or to insinuate more mischievously, opinions which, in the present spirit of the Country, it might not be prudent distinctly to avow.
We have marked in Italics the most striking expressions.—The CHANCELLOR of the Exchequer is said to have a complained”-He did not complain of the Ja. cobin Writers for “ transcribing French Sentiments” in the sense here insinuated (that of giving them as the Senciments of Frenchmen) but he censured them, as they deserved, for uniformly perverting the Liberty of the English Press, in' order servilely to copy whatever was dictated by the Governors in France, and for adopting as their own, and inculcating into their Readers, the opinions, the wishes, and the feelings of the Enemy with regard to this Country. He exposed them by the striking instance of their having again and again echoed the gross and detected Falsehood first contained in the pretended Letter from Lisle, which had the effrontery to represent His Majesty's offer of Restitution to France and its Allies as nothing more than a Blank, which was never filled up on his part in the course of the Negotiation.
They might “ translate,” till they were tired, “ the Proceedings of the Councils” - they might transcribe and get by heart the Diatribe of M. de TALLEYRAND, provided they had been contented to give them to their English Readers without approbation or encomium ; the former as specimens of French Wisdom, and the latter as the effusion of French Spleen. We should be as little disposed to object to the mere translation of a French Newspaper, as we are to follow the example of the Directory upon this point, and prohibit the introduction of them into this Country entirely.
But when, in the face of the complete, declared, and. unanimous conviction of all who have a mind capable of reasoning or feeling when at a moment while the impression of this conviction is yet warm, while the plain and intelligible documents on which it is founded are yet lying open before every man — there is found a Writer hardy enough to assert, that a complaint against the publication of TALLEYRAND's Letter, would have been a complaint of the truth being made public, one stands astonished at the effrontery of the assertion ; and one should imagine that Jacobin impudence had, in this instance, been carried to its height, if Jacobin morality had not been called in to carry it a step farther, by insinuating that an English Journalist, collecting his facts from a : French Political Squib, written without the semblance, and (to do TALLEYRAND justice) with scarce even the affectation of seriousness and reality, and bringing them forward to his Countrymen as a ground for forming their opinion, can be described, not only as having stated the truth, but as having stated it fairly.