1776. 249 State of the BUDGET, as opened by LORD NORTH, Wednesday April 24, 1776, with each Article arranged under its AR M Y. Separate Head. SUPPLIES. 659200 2 10 723432 11 74 107512 10 97575 12 2 troops horse guards reduced 12394 Heffians for 1776 4300 Brunswickers ditto Regiment of Hanau, from March 6, to 6 regiments of foot from Ireland, and 850 19 6 608 O O 381887 4 137448 7 O 250 Total of Parliamentary Supplies for the Year 1776. May New exchequer bills Surplus of American revenues Sundry furpluffes in exchequer, confifting of furplus of duty on rice, cambrick, apples, militia money, &c. Total of ways and means Annuities and lottery at 3 per cent. £. 7154230 4 43 L. 9154230 4 4 P. S. When Lord North had opened the Budget in the manner above stated, he acquainted the Houfe, that he fhould, on a future day, communicate to them his majesty's meffage for a vote of credit for one million, to be applied to the future army extras, and lofs on coinage. To the EDITOR of the LONDON MAGAZINE. In foof The national debt, de, doubtlefs many befides my N your Magazine for February and laft month, you gave your readers felf will think it proper to have Lord Stair's account inferted in your useful records, that the public may have the opportunity of comparing them together, and draw the neceffary conclufions." BUDGET. Lord 1776. 251 Lord Stair's State of the National Debt, the National Income, and the National Expenditure. THE funded debt at the conclufion of the war, including 7299375 value of long and life annuities given as premiuins, and the 1000000 borrowed on the fix-pence in the pound civil lift duty, likewife including the 6983553 funded in 1763, amounted to The unfunded debt (an equitable allowance being made for the excess of the extraordinaries in the two fift years of the peace, beyond the average of the following years, which allowance amounting to 2000000 to a trifle) being carried to the debt of the war, amounted to Total debt at the conclufion of the war The funded debt at Christmas 1773, including as above, was' The unfunded debt, exchequer bills 1000000, ditto lent to the Eaft India company 1400000, navy debt 1886760, fuppofed debt of the civil lift 800000, in all £. 138402601 8000000 146402601 134299375 5086760 139386135 146402601 139386135 Debt at the conclufion of the war was Debt at Christmas 1773, was Paid off therefore was To the discharge of which have been applied the following extraneous and adventitious fums, which as they arose mofly out of the war, ought to have been in a great part deducted from the debt incurred by the war Produce of French prizes Balance of Earl Chatham and John Calcraft's Army favings accounts and army favings Compofition for French prifoners Sale of ceded iflands 815500 964755 216222 670000 700000 7016466 800000 70000 110000 4346477 150000 The debt therefore paid by the permanent excess of the incomes of the state beyond the current expences thereof duing eleven years of profound peace, and unequalled profpe rity of trade, with the land tax at 4s. during five years of the period, and during the reft of it at 3s. with lotteries every year but two, the profits of which, though no certain or folid, far lefs an eligible refource, amounting to 1200000 and upwards included, amounts to no more than Annuity or intereft payable at the conclufion of the war on debt funded and unfunded, about Ditto payable at Christmas 1773, about Charge of intereft leffened 252 Lord Stair's Obfervations on the State of the Nation. May 'The debt pretended to be paid in 1774 and 1775 does not exceed the debt contracted in thefe years, for which no provifion was made. PRO O F. The debt paid off in 1774 and in 1775, was 1000000 3 per cents. in each year at 88 per cent. in both years 2000000 at 88 per cent. make £. 1760000 Debt contracted in 1774 and 1775, for which no provifion was made. New exchequer bills Ordnance extraordinaries beyond what were granted in 1774 As far as can be conjectured from the fcrap of paper on the table of the Houfe of Commons, the whole year 1775 is not near comprehended Army extraordinaries beyond what were granted in 1774 Intereft of unfunded debt and lottery expences for two years at leaft Navy debt increased, exclufive of the 200000 granted towards' paying it in 1774 Debt paid off in 1774 and 1775 256000 190423 582628 200000 811819 2034870 1760000 274870 Debt contracted exceeds debt paid off Which is more than what was undertaken to be proved. N. B. This is exclufive of 354735 taken towards the fupplies 1775, by anticipation out of the laft Christmas quarter of the finking fund, but not chargeable particularly on 1774 and 1775, as the abufe hegan foon after the peace. Notwithstanding thefe additions to the public debt, yet the East-India company (little used to profit by her fervants crimes) having, as I am told, I believe with truth, been very unexpectedly enabled from the rapine, not the trade of the Eaft, to discharge all, or at least a great part of the loin of 1400000 made to the company by the public, the national debt at Chriftmas 1775 was probably fomething within the limits of one hundred and forty millions. But that aufpicious epoch is now fled to return no more; each frantic hour teems with precious impoffibilities, expenfive chimeras, baseless incoherencies: phyfical neceflity, the avowed barrier of our fupremacy, is ftormed on every fide, and we are compelled to affert and believe, that armies fo flenderly equipt that they scarce could march in a body one hundred miles through the country of a friend, are in one campaign to make the conquest of a great and warlike empire, where they cannot even arrive much before Auguft. Let our miferies at leaft teach us humility, let human pride fallen proftrate lick the duft: what is man? how little, how abject must he be in the eye of Providence? when the fate of nations hangs on the decision of counfels fo wilful and fo weak. O! guardian angel of the land avert thy people's fate; to thee I lift a hand guiltless of the wrongs, and unstained with the plunder of my country. Sums levied on the British Subject in the Year 1774. To charges on the old long and life annuities not stated in the exchequer paper, eftimated To the civil lift To the duchy of Cornwall and Lancaster fines, principality of Wales, Scotch crown revenues, &c. &c. eftimated To profits on the lottery To produce of the finking fund To coinage duties Intereft and management on the equivalent to Scotland £. 4445856 8000 800000 200000 1 50000 2976382 15000 10600 2000 8607838 1776. Petition of Chester to Henry VI. against Taxation 253 To expences of management and collection on 86078381. eftimated, one with the other, at 10 per cent. of the neat produce To fees and perquifites of office of every kind eftimated To bounties on importation and exportation, whale and white herring fisheries, estimated To land and malt, land at 38. Total levied on the fubject within the year 1774 860800 500000 200000 10168538 2250000 12418638 To the EDITOR of the LONDON MAGAZINE. SIR, and befeechen your highness: where the faid county is, and hath been a county Palatine, as well before the conqueft of England, as continually fince, distinct and separate from the crown of England; within which county, you, and all your noble progenitors fithen it came into your hands, and all' rulers of the fame, before that time, have had your high courts of parliament to hold at your wills, your chancery, your exchequer, your juftice to hold pleas, as well of the crown, as of common pleas. And by authority of which parlia Ttion from taxation by the Briti THE Americans claim an exempparliament, because they are not reprefented in that affembly. Waving the reasonableness of this claim, confiftent with natural juftice and the principles of the English conftitution: I beg you will infert the following record, to fhew the world that their demand is not unprecedented. It is an application from the county palatine of Chefter to the king, deprecating the levying of taxes on them by the English parliament, because they were not reprefented therein, but had a feparate parliament, to make or to admit laws ment of their own: the king, fenfible of the justice of their demand, granted their petition. This record was prefixed to a book, entitled, "The Administration of the Colonies," writ ten by Governor Pownall, and printed in the year 1768. He was then the friend of the colonies. O. Copy of a Supplication, exhibited to King Henry VI. by the inhabitants of the county Palatine of Chefter. "To the KING, our Sovereign Lord. A. D. 1450. MOST Chriftian, benigne, and gracious king; we your humble fubjects, and true obaifant liege people, the abbots, priors, and all the clergy; your barons, knights, and efquires; and all the commonalty of your county Palatine of Chefter, meekly prayen within the fame, fuch as be thought expedient and behovefuil for the weal of you, of the inheritors, and inheritance of the faid county. And no inheritors or poffeffioners within the faid county, be not chargeable, lyable, nor have not been bounden, charged, nor hurt, of their bodies, liberties, franchifes, land, goods, nor poffelfions, within the fame county [* but by fuch laws as they] have agreed unto. And for the more proof and plain evidence of the faid franchises, immunities, and freedoms; the most victorious King William the conqueror, your most noble progenitor, gave the fame county to Hugh Loup his nephew, to hold as freely to him and to his heirs by the fword; as the fame king fhould hold all England by the crown. Experience of which grant, to be fo in all appeals and records, The above is a literal transcript of the record as published by Daniel King. I bave not the means of confulting the original, there is certainly fome omiffion or default in the copy. I have inferted the words, but by fuch laws as they, printed between books. I fee no other way of making fenfe of it. I have alfo in the fame manner, between hooks, inferted the words be wrong. |