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FORE:The people having collected in great crowds in the neighbourhood of the Council House, Dalton ordered out a company of soldiers, under a young[355] ensign, to patrol the streets, and overawe any attempts at demonstrations in support of the Council. The young ensign, having a stone flung at him, without further ceremony ordered his men to fire into the crowd, and six persons were killed, and numbers of others wounded. No sooner did Joseph hear of this rash and cruel act, than he wrote highly approving of it, and promoting the ensign. The people, greatly enraged, rose in the different towns, and were attacked by the Imperial troops, and blood was shed in various places. With his usual disregard of consequences, Joseph was at this moment endeavouring to raise a loan in the Netherlands, to enable him to carry on the war against Turkey. But this conduct completely quashed all hope of it; not a man of money would advance a stiver. Trautmansdorff continued to threaten the people, and Dalton was ready to execute his most harsh orders. It was determined to break up the University of Antwerp, and on the 4th of August, 1789, troops were drawn up, and cannon planted in the public square, to keep down the populace, whilst the professors were turned into the streets, and the college doors locked. Here there occurred an attack on the unarmed people, as wanton as that which took place at Brussels, and no less than thirty or forty persons were killed on the spot, and great numbers wounded. This Massacre of Antwerp, as it was called, roused the indignation of the whole Netherlands, and was heard with horror by all Europe. The monks and professors who had been turned out became objects of sympathy, even to those who regarded with wonder and contempt their bigotry and superstition. But Joseph, engaged in his miserable and disgraceful war against the Turks, sent to Dalton his warmest approval of what he called these vigorous measures.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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