of all, that one million annually ought to be laid aside as the means of gradually accomplishing this desirable purpose. The great points which we have to consider are, in the first place, what measures ought to be taken to acquire a million for this purpose. Secondly, what is the way of applying it? I must here congratulate the nation upon the arrival of this wished-for day, when all despondency and gloomy fear may be laid aside, and our prospects brightened with joy and hope. With how much pleasure am I able to add, that this can be carried into effect without laying any heavy new burthens upon the people. This is beyond the hopes of almost every man, and is indeed a subject of the greatest rejoicing to every friend of this country.

In order to be acquainted with our real situation, to see what we have and what we want, I mean to state to the committee the annual income and the annual expenditure of the nation, as the ground upon which we are to proceed with regard to the object before us. This has already been done by the select committee, who were appointed for the purpose of examining into the subject, and whose reports are now upon your table. It is a matter of much satisfaction that this mode has been taken to ascertain the sums of the revenue, and the expense of the nation. You have not the word of an individual, but the report of a committee of this House, who have given an authentic, an accurate, and a clear statement of the whole. This has been long enough published to have put it in the power of every gentleman to examine it with attention, and I hope none have neglected it. It is so much better that every thing of that kind, every thing that contains so many figures, should be stated on paper, than be trusted to the memory, that it will not be necessary for me to detain the House long with that part of the subject.

The committee have very properly arranged their inquiries. under two heads, taken from different periods. The first is, from Michaelmas 178 to Michaelmas 1785; and the second, from the 5th of January 1785 to the 5th of January 1786. In the first period the annual receipt appears to be 15,379,1827.;

the amount is, 15,397,4711. There never was a report upon any subject, nor upon such a subject as this, of so much consequence to the nation. The manner in which it has been brought up speaks the praise of the committee much higher than I am able to do by any words I could use. The clear, the precise, the accurate mode they have observed throughout the whole; the great attention which they have paid to the object for which they were appointed, deserves the highest encomiums. The care with which they have avoided all sanguine conclusions from the premises before them can never be too much applauded. Rigorous in calculating all contingencies which might arise to baulk the hopes of the nation, and tend to disappoint their hopes of the expected surplusses; most faithful to their trust, most scrupulous with regard to the truth of their statements, shewing at once their respect for the House, their sense of the importance of the business into which they had been deputed to examine, they have proceeded to deliver in a report, which, in point of clearness, precision, just and fair deduction, stands eminently distinguished above every report I have ever seen.

The first sum they have stated as the whole revenue that has been received into the exchequer from the 5th of January 1785 to the 5th of January 1786, is 12,499,9167. After this, next follow two sums, which they have thought proper to deduct from this sum, which has been received into the exchequer. First are the arrears due from the East-India company, which ought to have been paid before, but had been respited to them, and amounts to 401,1187. The other sum, which in the same manner is deducted, is the excess of the window duties, but which, from the alteration of the assessments, will not be paid any longer. These two articles, therefore, being considered only as contingencies, are not reckoned as part of the yearly revenue. These two sums, then, amounting to about 457,200l., being deducted, leave a remainder of 12,042,690l. This sum, which has been paid into the exchequer, is considered as a part of our stated yearly income, it being, each article of it, made up by taxes which are payable every year.

The rest of the sums which they have stated as the amount of the public revenue, which is something above 3,300,000l., arise from taxes, which, though payable yearly, have not yet been all received into the exchequer in such a manner as to have with them their proper vouchers; but the committee thought right to add them to the sums that had been received. Of these sums there can be little doubt or uncertainty. They are collected by the officers in different parts of the kingdom, according to assessments made and returned to them; where, therefore, these taxes have not actually been received, the assessments are taken, and a calculation made from them; with which there is the greatest human probability of their agreeing; indeed, no other method more clear and conclusive could have been suggested. Of this kind is the additional window tax, commonly known by the name of the commutation tax: this amounts to 380,0007. from Michaelmas 1784 to Michaelmas 1785, and 253,000l. from the 5th of January 1785 to the 5th of January 1786. The additional tax also upon two-wheel and four-wheel carriages, 107,000%. for the latter, and 59,2817, for the former. The added duty on male servants, 42,000l. for the latter period, and 26,000l. for the former. Farther duty on horses, waggons, and carts, 73,6107. to January 1786, and 56,8291. to Michaelmas 1785. It is impossible to say all these taxes have been received, but they have stated them in so cautious and guarded a manner, that there is little reason to doubt of their equalling, if not exceeding the

statement.

After these follow the taxes which have not been all received into the exchequer : those which were laid on in 1784 and 1785, and not having had time for their fair and full operation. The produce of those laid on in the year 1784, at Michaelmas, amounted to 103,000l., and in January to 22,000l.; the produce of those laid on in 1785, at Michaelmas last, including the improvement of the medicine duty, amounts to 265,000l., and at the 5th of January to 242,000l. To these is added the sum of 14,000, which is yearly paid at the excise and alienation office

being yearly voted, came under this head, and amount to 2,600,000l. All these sums added, made together, at Michaelmas 1785, 3,365,000l., which, added to the receipts for that year, viz. 11,874,000l., would produce a sum of 15,379,000. But, in January 1786, the whole of the sums amounted to 3,354,000l., which, added to the amount of the receipts for the year, made 15,397,000l., only a difference of about 20,000l.

This, then, is the annual income of this country, and upon the true statement of which there is every reason to rely. There is, indeed, a small difference in the two statements, the one ending at Michaelmas, and the other at January; but, although I should take the smallest, it would not make any difference in the deductions I shall draw from this subject. Indeed, it is well known to those who, from their official situations, have had an opportunity of observing, that it is some time before new taxes can fairly operate. So many evasions are at first formed, and so many frauds committed, that it generally takes some time before they can be levied to their full extent; and it is owing to this circumstance chiefly that there is a difference between the two

terms.

Many of the taxes laid on in the year 1784, and almost all those in 1785, are under the description I have given; and I have the greatest reason to believe they will greatly increase in their produce, when evasions are detected, and more effectual means made use of to collect them fully; and although none of them have been actually paid into the exchequer, nor is it possible from receipt to form any judgment with regard to them, yet I am persuaded that the particular character which the committee have maintained, will appear, with regard to them, that they are stated cautiously, and within their true limits. There is one tax which I may just mention as an instance of the truth of what I have observed with regard to new taxes; that is the duty on game licenses, which has produced 20,000l. more since the alterations it received. There is only one error that I can perceive, and that is 4,140/., which ought to be deducted from the

produce of the taxes imposed in 1785. Surely, on a subject of this kind, the sum of 4,000l. is not a great deal. Some of the taxes in 1785 are stated upon very sure ground, and from what has been received since January, though not received soon enough to be laid before the committee, give reason to believe they will produce more than they are rated at. Among these particularly is the shop tax, the house tax, and the servants' tax; the other taxes are stated on more uncertain grounds, such as the duty on pawnbrokers, and some others. Upon the whole, I do conceive, that we may rely upon this account as the real revenue of the country. The committee have stated every thing upon the best grounds the nature of the case admitted; and I have stated their results more for the sake of recalling them to gentlemen's minds than to add any thing new. My object is to shew that it is a fair deduction, and may be taken as the produce of the year from January 1785 to January 1786.

Whether or not we can rely upon this as an annual income, to continue at the same rate to this nation, is another question. I do think we may rely upon it so far as to look upon this annual income as a fund for an annual decrease of our debt; yet I do not look upon it as a certain income. Events may happen to swell this produce beyond the most sanguine calculation; and it may also happen that a disappointment may take place upon subjects so complicated in their nature. The trade and wealth of the nation is too fluctuating to admit that any average can be taken. A sudden disaster may blast all our hopes; and it may happen even that, without any disastrous event to this country, we may cut a poor figure for a year, or a number of years. I therefore do not take the liberty to make any other statement but what the committee have made, and would therefore read what the committee have said at the beginning of their report. For the reasoning stated by the committee, you (as much as they expect) have reason to conclude that this flourishing condition of our revenue will continue. We have nothing indeed to fear. We may lay despondent thoughts aside. Every thing depends upon the spirit of this House, and the resolution, the good