Sir, I make no doubt, you paffed that Bill upon those princi ples correfponding with your dignity, which are publick principles; if that propofal had not taken place, you would have feen the fame fcene of defolation in 1774 as in 1772, therefore it was from publick principles. The authors of that Bill acted upon thofe principles, to protect publick credit from fuch another stunning blow which it received in 1772. All is due to the noble perfonages in that affair, whom I not only love and esteem, but admire; they, by the fevereft loffes, purchafed an opportunity of fhewing to God and Man, how much the chafte light of honor and probity exceeded the glare of pomp and title. But their own, in this affair, was but a secondary confideration. I have taken up too much of your time already, or I could demonftrate from facts, taken upon my own knowledge, that you would have feen a return of the fame defolation before the expiration of 1774. This is only a part of a plan to fave Scotland. I believe, we fhall not lend them money on their bills and notes, but are willing to lend them money upon land, an indubitable fecurity incapable of fallacy. I can not miss this opportunity of recommending another Bill, which is under the confideration of the learned gentlemen of both kingdoms. I am fo convinced of the neceflity of it, I cannot manly part of winding up this unfortunate bnfinefs, the unadvifed, the blameable project of others; and were they convinced that thefe contracts were actually voidable in law, yet confcious of a tranfaction fo publick, open and fair, the noble perfonages reject the very thought of fo mean a fubterfuge, and pledge themfelves and their eftates to the ftrict performance of their engagements. Heavy indeed will be the lofs fuftained by thefe noble Dukes; but probity can deduce good out of evil. Without this fevere trial they never could have found fo ftriking an occafion of evincing to mankind, how much the dignity and luftre derived from honor and rectitude are fuperior to rank, title and fortune. The one begins life with the early acquifition of glory, refulting from honefty, that fupreme gift of God. The other will close his term with a laft and greateft exertion of his long-approved integrity, which hath ever obtained universal love and esteem, and will accompany his venerable head to the grave. It was jointly with them only, and directly on the fingle principle of fupporting publick credit, and relieving fo many diftreffed and alarmed individuals, that I have lent my beft affiftance. Solicited and authorifed by them, I now appear in their behalf before this refpectable Affembly with propofals, which, whether accepted or rejected by you, will demonftrate the upright intentions of thefe deferving and virtuous Noblemen; whom, as an independent man, I do not court; but to whose merit, as an honeft man, I must do common juftice: and have done no more. Ladies and Gentlemen, The fubject before you is of a publick nature; I have no fecrets about it put to me what questions you please; I will answer to the best of my knowledge and information. N. B. The propofals, which have been fince fo well understood by the publick, were unanimously agreed to by a very numerous meeting of annuitants; and the two original proposals, which were figned at the meeting, were left, one at Mr. Glover's in Martin's Lane, Cannon Street, the other at Mr. Mayne's in Jermyn Street, for fuch annuitants as pleafed to fubfcribe. omit this opportunity of recommending what I mean by a radical cure. There are objections to Scotch mortgages, which will deter English lenders. In the first place, money lent. upon a Scotch mortgage is not perfonal property, nor deviseable by will: John Bull will not lend upon fuch principles; and if you want the principal, it is not recoverable as in England. Sir, there must be a Bill, which is under confideration, to put Scotch mortgages upon the footing of English ones. Now, Sir, it will be an advantage to the South Britain to lend out his money, fo perfectly fecure, upon fo high an intereft. It will be in the power of the North Briton to pay that intereft, from the profitable ufe he will make of the money; for, by that means, in a few years, he may be enabled to pay his debts, and to be at eafe, like the other parts of the kingdom: and this, Sir, will tend to extract the very root of all their diftemper, which is pride and ambition, upon this axiom, that in all communities which are most at their eafe, the fpirit of project prevails the leaft. I want to put Scotland into that ftate of eafe; they then would find how much more comfortable it is to enjoy advantages flow and fure, from moderate, temperate trade, and look back with horror upon those paroxyfms of mind in that dreadful interval between the birth of a project, and its laft fatal diffolution. They have room for improvements; they can make ten, fifteen, twenty per cent. and afford to pay you five; you, by thefe means, make a fifter kingdom happy, and cure her both in mind and body. Now, Sir, my peroration fhall confift in a fingle requeft; that you, Sir, and the Committee, will be pleafed to accept fuch expreffions my gratitude may furnish, of fenfibility for fo much indulgence, fo much of your time and patience; and if, Sir, I have performed what I undertook; if I have afcertained the genuine caufe of the diforder; if I have shewn what are not the remedies, what is the nature of the distemper, and what is the cure: if, Sir, I have ufed no language illiberal, no arguments fallacious, no allegation untrue; if, Sir, befides the accustomed grace and humanity within thefe walls to all who appear open and undifguifed at the Bar; if, befides the complacency of thofe among my Honorable Hearers, who may not know me, or the partiality of those who do, I may, Sir, be difmiffed from this place, under the humble hope of having obtained the finalleft fhare of your folid approbation, in confequence of having thrown the flighteft fpark of light upon a fubject fo copious and national, this laborious exertion of mine, full late in life, and I trust the laft, will be deemed by me me as aufpicious and honorable for the remainder of my days *. * Papers illuftrating the Speech. * Total quantities of foreign linens imported into England from Christmas 1751 to Christmas 1771. Yards. |