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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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TWO: Napoleon's Plans of ConquestSebastiani's ReportNapoleon's Complaints against the British PressEspionage and ConfiscationHe continues his Continental AggressionsNapoleon's Interview with Lord WhitworthImminence of WarNegotiations for Pitt's Return to OfficeWar DeclaredNapoleon Arrests British subjects in FranceSeizure of HanoverEmmett's RebellionNaval Attacks on the French CoastThe Mahratta WarBattle of AssayeSuccesses of General LakeBattle of LaswareeBattle of ArgaumConclusion of the WarRenewed Illness of George III.Increasing Opposition of PittHe offers to undertake the GovernmentHe forms a Tory MinistryWilberforce's Abolition MotionThe Additional Force BillScheme for blowing up the French FleetWar with SpainThe Georges ConspiracyMurder of the Duke D'EnghienNapoleon becomes EmperorHis Letter to the British KingThe Condition of EuropeLord Mulgrave's Reply to the LetterMinisterial ChangesWeakness of the MinistryAttack on Lord MelvilleWhitbread's MotionMelville's DefenceHis Impeachment votedSecession of Lord SidmouthThe European CoalitionHastened by Napoleon's AggressionsRashness of AustriaInvasion of BavariaNapoleon marches on the RhineCapitulation of the Austrian Army at UlmOccupation of ViennaBattle of AusterlitzTreaties of Sch?nbrunn and PressburgThe Baltic ExpeditionExpedition to NaplesNaval AffairsNelson's Pursuit of VilleneuveCalder's EngagementBattle of TrafalgarDeath of NelsonContinuation of the Mahratta WarLord Lake's Engagements with HolkarSiege of BhurtporeDefeat of Meer KhanThe Rajah of Bhurtpore makes PeaceTreaties with Scindiah and HolkarDeath of PittPayment of his Debts by the Nation.
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FORE:Meanwhile, in America military intrigues were on foot against Washington. Amongst these endeavours was one for alienating from him Lafayette. For this purpose an expedition was planned against Canada, and Lafayette, as a Frenchman, was appointed to the command, hoping thus to draw to him the Frenchmen of Canada. Not a word was to be breathed of it to Washington; and Conway and Starke, two of the most malicious members of the cabal, were to take command under Lafayette. On the 24th of January, 1778, Washington received a letter from Gates, the President of the Board of War, commanding him to send one of his best regiments to Albany, on the Hudson, for a particular service, and enclosing another to Lafayette, requiring his immediate attendance on Gates. Gates found, however, that Lafayette was not to be seduced from his attachment to Washington. He would not accept the command, otherwise than as acting in subordination to his Commander-in-Chief; and he should send all his despatches and bulletins to him, at the same time that he furnished copies to Congress. The vain Frenchman verily believed that he was going to restore Canada, not to America, but to the French Crowna fear which began to haunt Congress after he had set out; but the fear was needless. When Lafayette reached his invading army, instead of two thousand five hundred men, it amounted to about one thousand two hundred, and the militia were nowhere to be heard of. Clothes, provisions, sledges, were all wanting, and, instead of leading his troops, as he was directed, to Lake Champlain, whence he was to proceed to ?le-aux-Noix to blow up the English flotilla, and thence, crossing the Sorel, to descend the St. Lawrence to Montreal, he gave up the expedition with a sigh, and returned to the camp of Washington.Good guess, Larry! Its the way I work it out, Dick added. FORE:Dick dragged in the rope to prevent it from flying back into the empennage, fouling the tail assemblyand they had the preserver.
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EXPULSION OF THE PROFESSORS FROM THE UNIVERSITY OF ANTWERP. (See p. 355.)On the 6th of May Burke had brought forward a measure for the benefit of his long-oppressed country, to the effect that Ireland should enjoy the privilege of exporting its manufactures, woollen cloths and woollens excepted, and of importing from the coast of Africa and other foreign settlements all goods that it required, except indigo and tobacco. The Irish were to have the additional privilege of sending to England duty-free, cotton-yarns, sail-cloth, and cordage. Parliament, for once, looked on these demands with favour. They recollected that the Americans had endeavoured to excite disaffection amongst the Irish by reference to the unjust restrictions on their commerce by the selfishness of England, and they felt the loss of the American trade, and were willing to encourage commerce in some other direction. Lord Nugent co-operated with Burke in this endeavour. But the lynx-eyed avarice of the English merchants was instantly up in arms. During the Easter recess, a host of petitions was[254] got up against this just concession. The city of Bristol, which was represented by Burke, threatened to dismiss him at the next election, if he persisted in this attempt to extend commercial justice to Ireland; but Burke told them that he must leave that to them; for himself, he must advocate free trade, which, if they once tried it, they would find far more advantageous than monopoly. They kept their word, and threw him out for his independence. At the same time, the English merchants, as they had always done before by Ireland, triumphed to a great extent. They demanded to be heard in Committee by counsel, and the Bills were shorn down to the least possible degree of benefit.132
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