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FORE:On the 21st of March a Committee which had been appointed early in the Session to inquire into the public income and expenditure, and to suggest what might in future be calculated on as the clear revenue, presented its report through Mr. Grenville, their chairman. On the 29th, Pitt, in a Committee of the whole House, entered upon the subject, and detailed the particulars of a plan to diminish progressively and steadily the further debt. It appeared from the report of the select Committee that there was, at present, a clear surplus revenue of nine hundred thousand pounds sterling, and that this surplus could, without any great additional burthen to the public, be made a million per annum. This he declared to be an unexpected state of financial vigour after so long and unfortunate a war. The plan which he proposed was to pay two hundred and fifty thousand pounds quarterly into the hands of Commissioners appointed for the purpose to purchase stock to that amount, which was under par, or to pay stock above par, and thus cancel so much debt. In addition to this, the annuities for lives, or for limited terms, would gradually cancel another portion. All dividends arising from such purchases were to be similarly applied. Pitt calculated that by this process, and by the compound interest on the savings to the revenue by it, in twenty-eight years no less than four millions sterling per annum of surplus revenue would be similarly applied, or employed for the exigencies of the State. By this halcyon process he contemplated the eventual extinction of that enormous debt, to pay the mere interest of which every nerve had been stretched, and every resource nearly exhausted. In a delightful state of self-gratulation, Pitt declared that he was happy to say that all this was readily accomplishable; that we had nothing to fear, except one thingthe possibility of any Minister in need violating this fund. Had the original Sinking Fund, he said, been kept sacred, we should have had now very little debt. To prevent the recurrence of this fatal facility of Ministers laying their hands on this Fund, he proposed to place it in the hands of Commissioners, and he declared that "no Minister could ever have the confidence to come down to that House and desire the repeal of so beneficial a law, which tended so directly to relieve the people from their burthens." He added that he felt that he had by this measure "raised a firm column, upon which he was proud to flatter himself that his name might be inscribed." He said not a word about the name of Dr. Price being inscribed there, to whom the whole merit of the scheme belonged; he never once mentioned his name at all. On his own part, Dr. Price complained not of this, but that he had submitted three schemes to Pitt, and that he had chosen the worst.
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FORE:The Wesleyan Methodists were next in number to the members of the Established Church. The progress of this society was very rapid after 1820. In that year the number of its ministers was 718, and of its members or communicants in Great Britain, 191,000. In 1830 the numbers were respectively 824 and 248,000; and so largely did they increase in the next ten years, that in 1840 the ministers were 1,167, and the members 323,000. The 1851 census returns showed 6,579 chapels belonging to this connexion in England and Wales, containing accommodation for 1,447,580 persons. The Society of Friends, on the other hand, was declining. The Roman Catholics made considerable progress in England during the last two reigns. In 1829 they had 394 chapels, which[428] in 1840 had increased to 463, and in 1852 they reached 600. They had at the same time 11 colleges, 88 religious houses, and 875 priests. Their chapels at the time of the census furnished accommodation for 186,000, and the number of attendants on the morning of census Sunday of 1851 was 252,983.The king now thought of placing Fox at the head of a new administration; but when Fox asked Pitt to join, he refused, and the king was obliged to send for Pitt, much as he hated him. Pitt replied that he was laid up with the gouta complaint which troubled him, but which he frequently found it convenient to assume. George then prevailed upon the Duke of Devonshire, a man of no commanding ability, and averse from office, but of the highest integrity of character, to accept the post of First Lord of the Treasury, and to form a Cabinet. Though the friend of Fox, he felt that statesman to be too unpopular for a colleague, and offered Pitt the seals of Secretary of State, which he accepted; Legge was re-appointed Chancellor of the Exchequer; Pitt's brother-in-law, Lord Temple, First Lord of the Admiralty; Temple's brother, George Grenville, Treasurer of the Navy; another brother, James Grenville, again was seated at the Treasury Board; Lord Holderness was the second Secretary of State, to oblige the king; Willes, Chief Justice of the Common Pleas; the Duke of Bedford was made Lord-Lieutenant of Ireland, it was said by Fox's suggestion, as a thorn in the flesh to Pitt, and, as Horace Walpole sarcastically remarked, Pitt had not Grenville cousins enough to fill the whole Administration; Charles Townshend was made Treasurer of the Chamber, though his talents and eloquence, in which he excited Pitt's jealousy, deserved a much higher office.
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FORE:
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