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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 thingthe 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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"Just what he's dishin' up to you now," she told him. このページの先頭です
ONE:"Well," he said more easily, "you've accomplished the thing you set out to do, anyway."
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TWO:While these things had been passing in England, the Revolution in France had been making great strides. The Assembly, after its removal to Paris, passed completely under the influence of the violent Jacobin Club, and the work of destruction and reconstitution proceeded with startling rapidity. By the division of France into Departments all the old territorial arrangements and provincial Assemblies were abolished; the judicial system was re-established on a popular basis, and its dependence on the Crown swept away; the Church was made a department of the State, and its vast property sold, chiefly by means of bills payable in Church lands and called assignats. The position of the king became well-nigh intolerable. There was a chance, indeed, that Mirabeau might extricate him from the toils of his enemies. That great man, now reconciled to the Court, advised him to withdraw from the capital, and throw himself upon the conservatism of the country districts. But the death of Mirabeau in April, 1791, deprived Louis of his only wise adviser, and in June he adopted the ill-judged course of flying from Paris, with the object of making his way across the frontier and joining the enemies of his country. The flight was ill-managed, the royal family were arrested at Varennes and brought back as prisoners to Paris, where they were placed under the strictest surveillance.

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TWO:At sea, Sir Edward Hawke attacked the French fleet under Admiral Conflans at the mouth of the Vilaine in Quibron Bay. The situation, amid rocks and shoals, and with a sea running high, so late in the year as the 20th of November, was most perilous, but Hawke scorned all danger, attacked the French fleet close under their own shores, took two men-of-war, sank four more, including the admiral's ship, the Soleil Royal, and caused the rest, more or less damaged, to take refuge up the river. Two of our own vessels were stranded in the night, but their crews and stores were saved. For this brilliant action, which crippled the French navy for the remainder of the war, Hawke was thanked by Parliament, received from the king a pension of one thousand five hundred pounds a-year for his own and his son's life, and, in the next reign, was raised to the peerage. Thurot, meanwhile, had escaped out of Dunkirk, but with only five ships, which kept out of the way by seeking shelter in the ports of Sweden and Norway.
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The attention of the public was now again drawn to those unnatural feuds which disturbed the Royal Family. The exhibition of domestic discord and hatred in the House of Hanover had, from its first ascension of the throne, been most odious and revolting. The quarrels of the king and his son, like those of the first two Georges, had begun in Hanover, and had been imported along with them only to assume greater malignancy in foreign and richer soil. The Prince of Wales, whilst still in Germany, had formed a strong attachment to the Princess Royal of Prussia. George forbade the connection. The prince was instantly summoned to England, where he duly arrived in 1728.The South Sea Company had immediately on the passing of the Bill proposed a subscription of one million, and this was so eagerly seized on that, instead of one, two millions were subscribed. To stimulate this already too feverish spirit in the public, the Company adopted the most false and unjustifiable means. They had eight millions and a half to pay over to Government as a douceur for granting them the management of the Funds; and, therefore, to bring this in rapidly, they propagated the most lying rumours. It was industriously circulated that Lord Stanhope had received overtures at Paris to exchange Gibraltar and Port Mahon for invaluable gold lands in Peru! The South Sea trade was vaunted as a source of boundless wealth in itself. In August the stock had risen from the one hundred and thirty of the last winter to one thousand! Men sold houses and land to become shareholders; merchants of eminence neglected their affairs and crippled their resources to reap imaginary profits. The Company flattered the delusion to the utmost. They opened a third, and even a fourth subscription, larger than the former, and passed a resolution that from next Christmas their yearly dividend should not be less than fifty per cent.! In labouring to increase the public delusion they seem to have caught the contagion themselves, for they began to act, not like men who were blowing a bubble which they knew must speedily burst, but like persons who had mounted permanently into the very highest seat of prosperous power. They assumed the most arrogant and overbearing manner, even towards men of the highest station and influence. "We have made them kings," said a member of Parliament, "and they deal with everybody as such."
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