that he was perfectly aware, at fo early We ought, faid Mr Pitt, to convince our enemies that we could, with vigour and promptitude, profecute the war if neceffary, and that our wonderful refour ces were as inexhauftible as our activity was unimpaired. 1 Relying on the patient indulgence of the Houfe, he would ftate with as much brevity as poffible the whole Supplies, together with the Ways and Means neceffary to answer the exigencies of the Nation. -7,072,552 I 8 6,104,452 14 5 850,000 0 1,744,47 8 He obferved, that in the vote of last year there had been provided taxes for one million more than there had been any occafion for. This might suggest the propriety of borrowing for the fervice of the enfuing year, no more than 17,000,000l. But he fubmitted, whether it would not be the fafer way to borrow 18,000,000l. in order that the additional million might meet any contingent deficiencies. The permanent taxes, independent of any new taxes impofed on account of the war, at an average of three years, ending 1795, amounted to 13,933,000l. For the year ending in 1795, to 13, 827,0col. and the taxes of the present year, ending in 1796, would probably amount to 13,598,000l. only about 200,000l. lefs than in the preceding year. He made O this eftimate on a fuppofition, that the taxes of the remaining weeks of the current year would be as productive as they I were were in the correfponding weeks of the laft year a fuppofition not probably exceeding the truth, as the taxes in thefe laft-mentioned periods were lefs productive than in any part of the year. During the next year he hoped there would be several important additions to the growing produce of the confolidated fund. One of the principal would be the produce of feveral Dutch prizes, which he estimated, from the best information, at one million. He had already ftated to the Committee, that the Loan which it was neceffary to make for the fervice of the enfuing year, was eighteen millions; the terms upon which he had agreed for that Loan were, that the intereft to be paid was 41. 138. 6d. for every hundred pounds. Parliament had rendered it neceffary, that, at the very moment when the debt was contracted, a fund should be established for the payment: this, added to the 41. 135. 6d. would render the intereft for every hundred pounds exactly 61. 38. 6d. The whole of the intereft of the Loan, or, in other words, the fum to the extent of which taxes were to be provided was 1,111,col. a fum undoubtedly very large, but he trufted, that the means by which the fum was to be raised were as light in their nature as could possibly be devised. The Taxes. The two firft and material Taxes which he meant to produce to the confideration of the Committee, were upon Property, and fuch as from their nature could only fall upon the higher and richer ranks of the Community. They had been frequently under confideration before, and had been, to a certain degree, adopted; he meant a Tax upon Collateral Succeffion by Legacy, or by relations of inteftates, to property, both real and perfonal. The next was an inercafe of 10 per cent. upon all affeffed taxes. The next, an increafe of the duty upon Horses, under certain regulations. The next article was Tobacco, which by long perfeverance had been freed from the frauds to which it used to be liable. The other articles were, a reduction of the Drawback on the Exportation of Sugar; a reduction of the Discount on the Payment of Salt Duties; and an Additional Tax on Printed Cottons, Linens, &c. Mr Pitt then went into a calculation, to fhow the probable amount of these taxes. As to that on Legacies, he propofed that the prefent duties, producing only 40,000l. per annum, fhould be repealed, and the new duty on Legacies of perfonal estate to collaterals of the firft degree, as far as first coufins, fhould be two per cent.-to fecond coufins, and beyond, four per cent.-to abfolute ftrangers, fix per cent.-On real property, two per cent. on devifes to thofe in the firft degree of confanguity-to first coufins, three per cent.-to remote relations and ftrangers, fix per cent. To calculate the probable produce of this tax, Mr Pitt affumed that the landed rental of the whole kingdom was twenty-five millions per annum. Taking this at 28 years purchase, the whole landed property was 700 millions, or, at 30 years, 750 millions. The whole perfonal property of the kingdom, he effi-, mated at 600 millions-total, 1,300 or 1,350 millions. One third of this he calculated might be the fubject of collateral fucceffions; and allowing that three perfons in 100` died every year, and that the average of the tax would be three per cent. it would produce 294,0col. from which deducting 40,000l. the prefent amount of the legacy tax, he ftat ed the produce in round numbers at 250,000l. The tax is to attach on refiduary legatees in cafes of inteftacy. With respect to Horses, he ftated that the present tax was ros. upon every horfe, and 20s. on-all horfes beyond fix. He proposed that the tax fhould be doubled in every progreffive ftage. The amount would be 116,000l. He also meant, that it should extend to a defcription of horses not coming within the above tax-he meant those employed for the purposes of Agriculture; on which he would propofe a tax of only 2s. a horfe. He calculated the number of horfes employed in this way at one million. The tax en Tobacco was to be 4d. per lb. additional-on printed Cottons 24d. per yard,-making in the whole 6d. The reduction of the Drawback upon the Exportation of Sugar, appeared to him to have this fingular advantage; that while it produced revenue to the Public, it would, at the fame time, lower the price. of the article. Without, therefore, injuring our foreign trade, he thought if onefourth of the Drawback was taken away, there would be a faving to the Public of 180,000l. He L.250,000 He then recapitulated the amount of Double prefent duty on Saddle Two Shillings on all other Tobacco, Fourpence per lb. Reduction of one-fourth of the Drawback on Sugar, 140,000 116,000 100,000 tion was made for difcharging the Call, which gave rife to a debate, negatived by a divifion, and the Call was fixed for Monday next. The following Meffage was delivered from his Majefty. "GEORGE R. "His Majesty, relying on the affurances which he has received from his faithful Commons of their determination to fupport his Majefty in thofe exertions 135,000 which are neceflary under the prefent circumftances, recommends it to this Houfe to confider of making provifion 32,000 towards enabling his Majefty to defray any extraordinary expences which may 180,000 be incurred for the fervice of the enfuing year, and to take fuch measures as the exigency of affairs may require.His Majefty, on this occafion, thinks proper to acquaint the Houfe, that the crifis which was depending at the commencement of the prefent Seffion has led to fuch an order of things in France, as will induce his Majefty (conformably to the fentiments which he has already declared) to meet any difpofition for Negociation on the part of the enemy, with an earneft defire to give it the fulleft and fpeedieft effect, and to conclude a Treaty for a General Peace, whenever it can be effected on just and suitable terms for himself and his Allies. L.1,123,000 Mr Pitt then entered into a minute and accurate statement of the Loan, which he averred was made on the beft poffible terms, and fuch as, confidering this to be the fourth year of fuch a war as the prefent, were incomparably advantageous to the Public. He defended his conduct with refpect to Mr Morgan, as the effect of a neceffity operating to the advantage of the Nation; and concluded, that the true way to judge, was to look to its revenue, and it would be found that, in the midst of this expenfive and unparalleled war, the diminution of the produce of the taxes was not greater than the common variation in times of peace. The taxes laid on fince the commencement of the war, had kept pace with his moft fanguine expectations. In 1793, they came within 20,000l. of the eftimare; în 1794, they exceeded it by 50,000l. and, in the prefent year, the two quarters which were paft had produced two thirds of the estimated taxes. Inftead of following the example of the enemy, and living upon our capital; inftead of eating out the finking fund, we had produced fupplies equal to the fervice of the year, and provided for their payment. He took no credit to himself, he attributed the whole to the energy of the country, and to the firm-, nefs and perfeverance of Parliament. The feveral Refolutions being read and agreed to in the Committee, and the Houfe having refumed, the Report was brought up, and ordered to be received tomorrow. Dec. 8. The Houfe was engaged till fix o'clock on the Call, which flood for this day; in the courfe of which, a MoEd. Mag. March 1796. 2 "It is his Majesty's earnest wish, that the fpirit and determination manifefted by Parliament, added to the recent and important fucceffes of the Austrian Armies, and to the continued and growing embarraffments of the enemy, may speedily conduce to the attainment of this object on fuch grounds as the juftice of the caufe in which this Country is engaged, and the fituation of affairs may entitle his Majefty to expect." Mr Pitt moved, that the Meffage. fhould be taken into confideration tomorrow, which was agreed to. Dec. 9. M Pitt moved the Order of the Day for reading his Majefty's Meffage, and moved an Addrefs, which was agreed to.. 10. The Order of the Day, for the third reading of the Bill for the Safety of his Majefty's Perfon and Government, being read, A long debate enfued, after which the For the third reading, Majority, Gg 226 181 M PARIS, 19 Feb. 1796. following manner: The Subfcribers of the Bank fhall receive two per cent, in following regulations has tereft, half yearly, and holders of been propofed and agreed to by the Executive Directory: 1. To form an affociation, under the name of a Bank, to which each of the fubfcribers binds himself to the extent of the shares he subscribes for. 2. The shares of the Bank fhall be 600 livres each, real value; payable, 200 liv res as foon as the cashier's office fhall be opened, 200 livres within fix months, and 200 at the end of a year. The firft 200 may be paid in national fpecie, in foreign fpecie at the proportioned rate of exchange, in gold or silver articles, in bills on foreign countries, or in affignats ac cording to their currency. The fublequent 4001. fhall be paid in bonds fubfcribed by the holders of fhares, bearing an intereft of five per cent. per annum. A bonus of one per cent, will be allowed to thofe who make the last payments in advance. 3. The holders of shares in the Caiffe d'Efcompte, whofe names are infcribed on the registers of liquidation, and who are ftill interested in that establishment, shall be admitted into this affociation, in the proportion of five fhares of the Bank for each fhare of the Caiffe d'Efcompte, from whence they shall transfer the value to the Bank, with fix months arrears of the dividends to be received. To be entitled to this advantage, the holders of fhares in the Caifle d'Elcompte fhall pay into the Bank, as foon as the Cashier's books fhall be opened, 200 livres for each fhare of the Caiffe d' Efcompte. 4. The dividends-fhall be made in the fhares in the Caiffe d'Efcompte, the fix months, which fhall be paid by the National Treasury as the intereft of their fubfcriptions. The furplus of the profits of the Bank fhall form a common dividend for the two claffes. 5. The Bank hall iffue fuch bills at fight, or after date, as fhall be neceffary for their operations. Such bills, however, fhall never exceed their realifed value when they become payable. 6. The Bank, fhall be directed by a Council of Adminiftration fimilar to that of the Caifle d'Efcompte. This Council fhall be composed of teń Administrators, and a Director General. 7. The Subfcribers thall delegate to the Council the power of treating with the Government in fuch a way as that in no cafe the Bank engagements fhall exceed the half of the real value of the af fets lodged in the Bank itself. 8. They empower them to organize all the parts of the establishment, the form and møde of emifiion or subscription for fhares, the emiffion of bills, the current accounts, the discounts, the credit in Bank or depofit, and the general and particular refponfibility of each part. The Council is authorised to frame all the regulations relative to thefe different parts of the adminiftration, and to put them in force. Thefe regulations to be printed and tranfmitted to each subscriber having a vote. 9. To be entitled to a vote in the general meetings of the Bank, it is neceffary to hold twenty fhares. 10. The 10. The Council will hold a general meeting every three months. It fhall, befides, call extra meetings when it shall think fit. 11. On the demand of fifty fubfcribers having votes, the Council fhall be obliged to call a general meeting within ten days; and, 12. The accounts of the establishments fhall be balanced daily. Feb. 20. At ten o'clock this morning, all the forms, plates, matrices, and punches, which were employed in the manufacture of affignats, were broken at the Place Vendome, and afterwards melted in a vast furnace, which had been built there for the purpofe. A great concourfe of people was prefent at this ce 22. The price of bread in this capital is fixed for the prefent decade at 40 livres per pound in affignats, or 3 fols (three halfpence) in fpecie, at the choice of the confumer. March 4. The Directory have officially announced that Stoffiet, and five of his accomplices, were tried at Angers on the 26th of February, and were fhot the next day, with the exception of a young attendant on his perfon, whom the Military Council condemned only to be imprifoned till the return of peace. From the fentence of Stofflet it appears, that he was in his 44th year, that he was born at Lunevill, in the department of La Marthe. The names of the four officers were Charles Lichtenhen, aged 24, born at Prade, formerly an officer in the fervice of the Emperor; Jofeph Philippe Devannes, born at Ancenis, formerly Commis, of that diftrict; Jofeph Moreau, aged 20, born at Chante!on; Pierre Pinot, aged 21; and Michel Grolleau, aged 14. ENGLAND. London Gazettes. Downing-Street, Jan. 26. By advices received from the Auftrian Army on the Rhine, dated December 30, it appears, that a Sufpenfion of Arms has been agreed upon between the Auftrian and French Generals in that quarter, with liberty to either party to put an end to it, on giving ten days notice. From the London Gazette, Feb. 2. Admiralty-Office, Feb. 2. Copy of a Letter from Capt. John Clarke Searle,commander of his Majesty's Sloop Pelican, to Mr Nepean, dated off Dominica, Dec. 15, 1795. SIR, writing to you, by Capt. Warre, on I avail myself of the opportunity of board the Earl of Sandwich packet, on his paffage to England, merely to acquaint you, that I yefterday captured one teries of Marygallante. She is a fchoonof the enemy's cruizers, under the bater of eight guns, and 56 men. [This Gazette contains four congratulatory addreffes from England, to their Majefties, on the birth of a Princess; and one to his Majefty, on his late efcape from the outrageous attack on his perfon.] From the London Gazette, Feb. 16. Carleton Houfe, Feb. 16. On the evening of Thursday laft, between eight and nine o'clock, her Royal Highness the Infant Princefs, daughter of their Royal Highneffes the Prince and Princess of Wales, was chriftened in the great drawing-room by his Grace the Archbishop of Canterbury: her Royal Highness was named Charlotte Auguf. ta: the Sponfors were their Majefties in perfon, and her Royal Highness the Duchefs of Brunfwick, reprefented by her Royal Highness the Princess Royal. From the London Gazette, March. 19. WEST INDIES. Horfe-Guards, March 17, 1796. A letter, of which the following is an extract, has been received by the Right Hon. Henry Dundas, one of his Majefty's Principal Secretaries of State, from Major-General Leigh, commanding his Majefty's troops in the Weft In dies: Extract of a Letter from Major-General I this day received Brigadier-General Stewart's ftatement of the attack on his Camp at St Vincent's, on the 8th inft. and the return of the killed, wounded, and miffing, in that unfortunate affair. The Governor, and a Committee of Gga the |