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.
"I put them in this here book," he said, "betwixt the leaves, and then I put the book under my saddle and set on it. I don't weigh so much, but it works all right," he added, looking up with a na?ve smile that reached from one big ear to the other. "To-morrow," he told him later, "I'm going to ride over here to Tucson again. What way might you be takin'?"Listen, Larry, he said into his tube. If we could fly level with the amphibian, I could use my flashlight to flick a message to Sandy, and tell him to lower the life preserver while we fly directly under his craft, until we catch it and pull it into our ship.
FORE:These motions were defeated, and Lord North, on the 21st of June, moved for the introduction of a Bill to double the militia and raise volunteer corps. The proposal to double the militia was rejected, that to raise volunteer corps accepted. To man the Navy a Bill was brought in to suspend for six months all exemptions from impressment into the Royal Navy. The measure was passed through two stages before rising, and carried the next morning, and sent up to the Lords. There it met with strong opposition, and did not receive the Royal Assent till the last day of the Session. This was the 3rd of July, and was followed, on the 9th, by a Royal Proclamation ordering all horses and provisions, in case of invasion, to be driven into the interior. The batteries of Plymouth were manned, and a boom was drawn across the harbour at Portsmouth. A large camp of militia was established at Cox Heath, in front of Maidstone, and, in truth, this demonstration of a patriotic spirit was very popular.
The captain's lips set.[See larger version]"I've thought of bringing her on here. But how can I? In a bachelor establishment? My sister won't have her at any terms. She suggested an orphan asylum from the first, and she hasn't changed her mind."The whole company caught the royal infection. They vowed to die for the king, as if he were in imminent danger. Cockades, white or black, but all of one colour, were distributed; and it is said the tricolour was trodden under foot. In a word, the whole company was gone mad with champagne and French sentiment, and hugged and kissed each other in a wild frenzy. At this moment a door opened, and the king and queen, leading the dauphin by the hand, entered, and at the sight the tumult became boundless. Numbers flung themselves at the feet of the royal pair, and escorted them back to their apartments.
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