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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.

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THREE:On the 17th of July the new Premier, Lord Melbourne, who, declining, on the king's suggestion, to form a coalition with the Duke of Wellington and Mr. Stanley, had made few alterations in the Ministry, announced a less offensive Coercion Bill for Ireland, which led to an animated debate, in which Lords Wicklow and Wharncliffe, the Duke of Wellington, and other peers strongly censured the conduct of the Government for its alleged inconsistency, vacillation, and tergiversation. The new Coercion Bill passed quickly through both Houses, and became the law of the land before the end of the month. The Tithes Bill was rejected in the House of Lords, on the motion of Lord Ellenborough, by 189 votes to 122.

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THREE:But this large infusion of Whiggery did not[439] render the Administration any the more liberal. It was determined to bring the politically accused, now out on bail, to trial. On the 6th of October true bills were found by the grand jury of Middlesex against Thomas Hardy, the secretary of the Corresponding Society, John Horne Tooke, John Augustus Bonney, Stewart Kyd, the Rev. Jeremiah Joyce, Thomas Wardle, Thomas Holcroft, John Richter, Matthew Moore, John Thelwall, Richard Hodgson, and John Baxter, for high treason. Hardy was put upon his trial first at the Old Bailey, October 29th, before Chief Justice Eyre, a judge of noted severity, Chief Baron Macdonald, Baron Hotham, Mr. Justice Buller, and Mr. Justice Grose, with other judges. Sir John Scott, afterwards Lord Eldon, as Attorney-General, opened the case against him in a speech of nine hours. In this he laboured to represent the Corresponding Society, and Hardy as its secretary, as guilty of a treasonable intercourse with the French revolutionists, and read numbers of documents expressing great admiration of the French institutions. But these were merely the documents which had long and openly been published by the Society, and were well known through insertion in the newspapers. There was nothing clandestine about them, nothing suggestive of a concealed and dangerous conspiracy. Their invariable burthen was the thorough reform of Parliament, and the utter disfranchisement of the rotten boroughs, by which the whole representation of the country was transferred to the aristocracy. Next a strong attempt was made to connect the secretary of the Society with the men lately condemned in Scotland, especially Margarot, with whom, as all undoubtedly engaged in the same object of Reform, Hardy, as secretary, had considerable correspondence. The whole failed to impress an English jury, and Hardy was acquitted after a trial of eight days.

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THREE:THE CONQUERORS OF THE BASTILLE. (After the Picture by Fran?ois Flameng.)

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