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THREE: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 thing��the 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.With the sublime indifference to the mockery of the world, characteristic of his race, Cairness kept at it. It was ridiculous. He had time to be dimly aware of that. And it certainly was not war. He did not know that they were affording the opposing forces much enjoyment. He had not even observed that the firing had stopped. But he meant to catch that much qualifiedly impudent little beast, or to know the reason why. And he would probably have known the reason why, if one of the Apache scouts, embarrassed by no notions of fair play, had not taken good aim and[Pg 233] brought his youthful kinsman down, with a bullet through his knee.

Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock

THREE:��Golly-gracious, Dick! I think you��ve found the reason������

Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock

THREE:The news had the most instant effect across the Channel. All hesitation on the part of the French Court to enter into the treaty with the United States disappeared. The American Commissioners, Franklin, Deane, and Lee, were informed that the King of France was ready to make a treaty, claiming no advantage whatever, except that of trade with the States. It was intimated that this proceeding would, in all probability, involve France in a war with Great Britain, but that she would claim no indemnity on that score. The only condition for which she positively stipulated was, that America should, under no temptations, give up its independence, or return under the dominion of England. The two kingdoms were to make common cause, and assist each other against the common enemy. The Americans were to endeavour to make themselves masters of all the British territories that they could, and retain them as their rightful acquisition; the French to obtain whatever islands they could in the West Indies, and retain them. France did not venture to seek back the Canadas or Nova Scotia, well knowing that the Americans would not consent to have them there as neighbours. Neither country was to make peace with England without the other. Lee was to continue at Paris as the first American Ambassador there, and the treaty was to continue some weeks a secret, in order to obtain, if possible, the accession of Spain to it, which, however, they could not do then.[Pg 243]

Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock