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[See larger version]The first measure of importance after the appearance of Pitt in the House of Commons as Prime Minister was the annual motion of Wilberforce for leave to bring in a Bill for the abolition of the Slave Trade. Pitt and Fox both supported it, and it was carried by seventy-five against forty-nine. The second reading was carried by a still larger majorityone hundred against forty-twobut on going into committee upon it, it was postponed to the next Session. War and preparations for war were the all-absorbing business of those times.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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THREE:After a rough passage the squadron arrived, at three in the morning, in Carrickfergus Road, about seven miles from Belfast. The water in the Channel was not deep enough for the Victoria and Albert, and the royal party went on board the Fairy tender, in which they rapidly glided up the lough, and anchored at the quay, where they landed in order to see the town. Loyal mottoes told, in every form of expression, the welcome of the inhabitants of the capital of Ulster. An arch of grand architectural proportions, richly decorated with floral ornaments and waving banners, spanned the High Street. Her Majesty visited the Queen's College and the Linen Hall. Although a flourishing city, Belfast had not then much to boast of architecturally, and therefore there was not much to be seen. The numerous mills about the town would remind the Queen more of Lancashire than of Ireland, giving her assurance by that same token that Ulster was the most industrious and most prosperous province of the Emerald Isle. If, in Cork, where O'Connell had been obeyed almost as Sovereign of the country, the Queen was hailed with such enthusiastic devotion, how intense must have been the loyal demonstrations in a town out of which the Repeal chief was obliged to fly secretly, to avoid being stoned to death.
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[See larger version]Undismayed, Fox renewed the contest on the following day, December 15th, by moving that an humble address should be presented to his Majesty, praying him to send an ambassador to France to treat with the persons constituting the existing executive Government. He said that he did not mean to vindicate what had taken place in that country, although, if we condemned the crimes committed in France, we must also condemn those of Morocco and Algiers, and yet we had accredited agents at the courts of those countries.
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