TWO:On the 12th of February, 1823, the President of the Board of Trade said, in his place in Parliament:"The general exports of the country in the four years from 1815 to 1819 had decreased 14,000,000 in official value; and he took the official value in preference to the declared, because it was from the quantity of goods produced that the best measure was derived of the employment afforded to the different classes of the community. In the year from the 5th of January, 1819, to the 5th of January, 1820, the exports of the country fell off no less than 11,000,000; and in looking at that part of it which more completely embraced British or Irish manufacture, he found that the difference in four years was 8,414,711; and that in the year from the 5th of January, 1820, to the 5th of January, 1821, there was a decrease of 8,929,629. Nobody, therefore, could be surprised that, at that period, the industry of the country appeared to be in a state of the utmost depression; that our manufacturers were most of them unemployed; that our agriculturists were many of them embarrassed; and that the country, to use the phrase of a friend of his in presenting a petition from the merchants of London, 'exhibited all the appearances of a dying nation.' Though the condition of the agricultural interest was not as favourable as he could wish, still it was most satisfactory for him to state that not only did the exports of last year [1822] exceed those of all the years to which he had been alluding, but also those of the most flourishing year which had occurred during the continuance of the war. In all material articles there had been a considerable increase. The export of cotton had increased ten per cent., and hardware seventeen per cent.; of linens twelve per cent., and of woollens thirteen per cent.; and the aggregate exports of 1822 exceeded those of 1820 by twenty per cent., and of 1821 by seven per cent., notwithstanding a deduction was to be made from the exports of one great article, sugar, owing to a prohibitory decree of Russia, amounting to thirty-five per cent." The result of this prosperous state of things was that, in 1823, the new Chancellor of the Exchequer was enabled to present the best and most popular Budget that had been laid before Parliament for many years, remitting a large amount of taxes that had pressed most heavily on the springs of industry, and inflicted the greatest amount of inconvenience and privation upon the people. The revenue of the nation in that year was 57,000,000, and the expenditure was estimated at 49,672,999, leaving a surplus of upwards of 7,000,000. Of this surplus, 5,000,000 was set aside for the reduction of the National Debt, and the remainder for the remission of taxes. As the assessed taxes were most oppressive, they were reduced fifty per[239] cent., a reduction which was estimated on the window tax alone at 1,205,000. On the whole, the assessed taxes were reduced by 2,200,000. This included 100,000, the total amount of assessed taxes in Ireland. In England the whole of the window tax was removed from the ground floors of shops and warehouses.On the 23rd of June the king sent down a message to the Commons, recommending them to[301] take into consideration a separate establishment for the Prince of Wales, who had arrived at the age of twenty-one. This young man, whose whole career proved to be one of reckless extravagance and dissipation, was already notorious for his debauched habits, and for his fast accumulating debts. He was a great companion of Fox, and the gambling rous amongst whom that grand orator but spendthrift man was accustomed to spend his time and money, and therefore, as a pet of this Coalition Ministry, the Duke of Portland proposed to grant him one hundred thousand pounds a year. The king, alarmed at the torrent of extravagance and vice which such an income was certain to produce in the prince's career, declared that he could not consent to burden his people, and encourage the prince's habits of expense, by such an allowance. He therefore requested that the grant should amount only to fifty thousand pounds a year, paid out of the Civil List, and fifty thousand pounds as an outfit from Parliamentary funds. The Ministers were compelled to limit themselves to this, though the saving was merely nominal, for the debts on the Civil List were again fast accumulating, and the prince was not at all likely to hesitate to apply to Parliament to wipe off his debts, as well as his father's when they became troublesome to him. Resenting, however, the restraint attempted to be put upon him by his father, the prince the more closely connected himself with Fox and his party, and the country was again scandalised by the repetition of the scenes enacted when Frederick, Prince of Wales, father of George III., was the opponent of his own father, George II., and the associate of his opponents. Such, indeed, had been the family divisions in every reign since the Hanoverian succession. On the 16th of July Parliament was prorogued.
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TWO:THE CONQUERORS OF THE BASTILLE. (After the Picture by Fran?ois Flameng.)
