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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:

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THREE:The Reverend Taylor got his hat. It was still a silk one, but new, and without holes. They went over to the false front board structure which was Stone's office. It appeared from the newspaper man's greeting that it was a case of the meeting of prominent citizens. Taylor presented Cairness, with the elegant, rhetorical flourishes he was capable of when he chose. "He is a friend of mine," he added, "and anything that you can do for him will be appreciated, you sabe?��" Stone did understand, and Taylor left them alone together.We must open the year 1790 by reverting to the affairs of Britain, and of other countries having an influence on British interests. The Parliament met on the 21st of January; and, in the course of the debate on the Address in the Commons, Fox took the opportunity to laud the French Revolution, and especially the soldiers for destroying the Government which had raised them, and which they had sworn to obey. Burke, in reply, whilst paying the highest compliments to the genius of Fox, and expressing the value which he placed on his friendship, endeavoured to guard the House and country against the pernicious consequences of such an admiration as had been expressed by Fox. He declared the conduct of the troops disgraceful; for instead of betraying the Government, they ought to have defended it so far as to allow of its yielding the necessary reforms. But the so-called reforms in France, he said, were a disgrace to the nation. They had, instead of limiting each branch of the Government for the general good and for rational liberty, destroyed all the balances and counterpoises which gave the State steadiness and security. They had pulled down all things into an incongruous and ill-digested mass; they had concocted a digest of anarchy called the Rights of Man, which would disgrace a schoolboy; and had laid the axe to the root of all property by confiscating[371] that of the Church. To compare that revolution with our glorious one of 1688, he said, was next to blasphemy. They were diametrically opposed. Ours preserved the Constitution and got rid of an arbitrary monarch; theirs destroyed the Constitution and kept a monarch who was willing to concede reforms, but who was left helpless. Fox replied that he had been mistaken by his most venerated and estimable friend; that he was no friend to anarchy and lamented the cruelties that had been practised in France, but he considered them the natural result of the long and terrible despotism which had produced the convulsion, and that he had the firmest hopes that the French would yet complete their Constitution with wisdom and moderation. Here the matter might have ended, but Sheridan rose and uttered a grand but ill-considered eulogium on the French Revolution, and charged Burke with being an advocate of despotism. Burke highly resented this; he made a severe reply to Sheridan; and instead of the benefits which he prognosticated, Burke, with a deeper sagacity, declared that the issue of that revolution would be not only civil war but many other wars.

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