THREE:
FORE:MAP OF SPAIN AND PORTUGAL TO ILLUSTRATE THE PENINSULAR WAR.
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga.
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.The Treaty of Peace received the sanction of the Parliament; not so the Treaty of Commerce. By this treaty it was provided that a free trade should be established according to the tariff of 1664, except as it related to certain commodities which were subjected to new regulations in 1669. This went to abolish all the restrictions on the importation of goods from France since that period, and within two months a law was also to be passed that no higher duties should be levied on goods brought from France than on the like goods from any other country in Europe. Commissioners were appointed to meet in London to carry these propositions into effect; but there immediately appeared a violent opposition to these regulations, which were contained in the eighth and ninth articles of the Treaty of Commerce. It was declared that these articles violated the Treaty of Methuen, according to which the duties on Portuguese wines were always to be lower by one-third than the duties on the French wines.
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga.
THREE: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.
FORE:Who would be free, themselves must strike the blow?"
cupiditate non provident
More Info15th May
FORE:There were some circumstances, however, which came out that created considerable suspicion and displeasure in Ireland. Wood had given a bribe to the king's mistress, the Duchess of Kendal, to procure him the contract, and the Government had ordered the coinage without paying the Irish Privy Council and Lord-Lieutenant the compliment of consulting them on this occasion. Swift saw these errors, and seized on them for his own purposes. He did not stop to inquire whether, after all, the proposed coinage would not, in any circumstances, be much better than the present distressing scarcity of copper money, and whether the farthings and halfpence might not turn out as good, though they were contracted for. It was enough for him that there was a cause of discontent which he could fan into a flame against the British Government. He threw all his spiteful soul into it, and his "Drapier's Letters" inflamed the public mind to such a degree that Walpole was compelled to cancel the patent.
cupiditate non provident
More Info15th May
