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FORE:On the 27th of April Pitt introduced a message from the king, recommending the settlement of a suitable provision on the Prince of Wales on his marriage. The Prince expected that Pitt would propose and carry, by means of his compliant majority, which had readily voted away millions to foreign monarchs, a vote for the immediate discharge of his debts. His astonishment may therefore be imagined, when Pitt proposed that Parliament should grant him such an income as should enable him, by decent economy, to defray these debts by instalments through a course of years. Having stated these debts at six hundred and thirty thousand pounds, he proposed to increase the Prince's allowance from seventy-five thousand to one hundred and forty thousand pounds, an increase of sixty-five thousand pounds a-year. Twenty-five thousand pounds of this were to be set apart every year for the liquidation of the debts in the course of twenty-seven years. This was, in fact, only giving him an increase on his marriage of forty thousand pounds per annum; but so unpopular was the Prince that not even that amount of money could be obtained. The question was warmly debated during two months, and it was not till the 27th of June that it was finally settled in still worse terms for the Prince, namely, that his allowance should be one hundred and twenty-five thousand pounds per annum, with the income of the Duchy of Cornwall, about fifteen thousand pounds more, thus making up the one hundred and forty thousand pounds; but out of this seventy-five thousand pounds per annum were appropriated to the payment of his debts, leaving him only sixty-seven thousand pounds a year clear for his own expenditure, or eight thousand pounds per annum less than his previous allowance. With the grant to the Prince this Session closed, namely, on the 27th of June.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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