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Article HOUSE OF COMMONS. ← Page 5 of 6 →
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House Of Commons.
A Writ was " accordingly ordered to be issued for a Burgess to serve in Parliament for , the said Borough of Newport . Mr . Soears , from the Treasury , brought up an account of the monies disbursed by the Treasury , from the 6 th of October 1795 to the 6 th ( if October 1796 . — Ordered to be laid on the table . The Report of the Land . Tax Duty Bill was also received . The Bill for raising a Provincial Corps of Cavalry , & c . was re-committed to a Committee of the whole House
. Mr . Rose proposed a clause in the New Militia Bill , by which persons possessing an estate , houses , or hereditaments , of 50 I . a year or upward- ; , and heirs to estates of tool , a year and upwards , and who had taken out certificates to shoot game , should furnish a substitute in the New Militia , expert at firing . The clause was agreed to . Thursday , 27 . At four o ' clock , the House ballotted for a Committee to try the merits of the Petition against the election for Caermarthen .
The Speaker acquainted the House , that John Lowther , Esq . who had been returned far two places , Haslemere ancl the County of Westmoreland , had made his election to sit for Westmoreland . A new writ was accordingly issued for the election of a Member to . serve in Parliament for Haslemere . The Land and Malt Bills were read a third time and passed . Adjourned . Friday , 28 . The Corn Bill was read a first time . Mr . Pitt rose toniake his promised proposition respecting the unfunded Navy
and Exchequer Bills . It had , he said , for its object , to remove from the market an immense mass of floating securities , by which it was incumbered .. He confessed that the expences attending the naval department for the last year had far exceeded the estimate and provision wiiich he had made . For the amount of the Navy Bills now outstanding was no less a sum than 11 , 993 , 16 3 ! . 193 . 9 d . a sum which must naturally overstock the market , depress public credit , and tend to increase the present scarcity of a circulating medium ..
To relieve the market from this incumbrance was the principal object he had at present in view ; and this he hoped to accomplish by funding the Navy Bills , and some others no-. v ' outstandmg , and that up to the latest period . In order , the ' -elbre , to proportion the twins according to the length of time those Bills had to run , he would endeavour to divide them into certain classes . ( For these classes we beg to refer our Readers to our last Number , page 2 S 9 . ) This measure , Mr . Pitt had sanguine hopes , would greatly contribute to relieve the public credit , and extricate it from the embarrassments under which it novr
laboured . On some other day he would make a . more specific proposition . He would now content himself with moving , that A provision be . made for paying off the Navy Bills issued up , to the 27 th of October 1796 , amounting to 11 , 993 , 1631 . 19 s . 9 d . Mr . Hussey observed , that this was making a new loan at six per cent ., to pay off an oid debt ; which observation gave rise to some conversation between him and Mr . Pitt . Mr . Fox disapproved highly both of the measure itselfand of the particular
, time when it was proposed . To the many grievances under which the people already laboured , it wo . -jki expose them to the . new and unexampled burthen of paving 103 per cent , for the money advanced on those Navy Bilis , which , at one year ' s interest , would , by the excess of the in'erest , amount to the sum of 240 , 0001 . As to the time , none could be more unfavourable to a good bargain for the public , when we were in the middle of a war , when a negociation was on foot from which little success was expected , and when consequently-the funds experienced the greatest fluctuationby which the public could not profitif the bar
, , - gain was so suddenly concluded . .. . . ¦ Mr . Pitt , Mr . Fox , Sir William Pulteney , and Mr . Hussey made a few .. more observations ; after which the question was put ' and agreed to ,. nem . con . Monday , 31 . . The Order of the Day being read , the House resolved itself intoa Committee of Ways and Means . . ,...., -. , Ths Clerk having again read the resolutions ,
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
House Of Commons.
A Writ was " accordingly ordered to be issued for a Burgess to serve in Parliament for , the said Borough of Newport . Mr . Soears , from the Treasury , brought up an account of the monies disbursed by the Treasury , from the 6 th of October 1795 to the 6 th ( if October 1796 . — Ordered to be laid on the table . The Report of the Land . Tax Duty Bill was also received . The Bill for raising a Provincial Corps of Cavalry , & c . was re-committed to a Committee of the whole House
. Mr . Rose proposed a clause in the New Militia Bill , by which persons possessing an estate , houses , or hereditaments , of 50 I . a year or upward- ; , and heirs to estates of tool , a year and upwards , and who had taken out certificates to shoot game , should furnish a substitute in the New Militia , expert at firing . The clause was agreed to . Thursday , 27 . At four o ' clock , the House ballotted for a Committee to try the merits of the Petition against the election for Caermarthen .
The Speaker acquainted the House , that John Lowther , Esq . who had been returned far two places , Haslemere ancl the County of Westmoreland , had made his election to sit for Westmoreland . A new writ was accordingly issued for the election of a Member to . serve in Parliament for Haslemere . The Land and Malt Bills were read a third time and passed . Adjourned . Friday , 28 . The Corn Bill was read a first time . Mr . Pitt rose toniake his promised proposition respecting the unfunded Navy
and Exchequer Bills . It had , he said , for its object , to remove from the market an immense mass of floating securities , by which it was incumbered .. He confessed that the expences attending the naval department for the last year had far exceeded the estimate and provision wiiich he had made . For the amount of the Navy Bills now outstanding was no less a sum than 11 , 993 , 16 3 ! . 193 . 9 d . a sum which must naturally overstock the market , depress public credit , and tend to increase the present scarcity of a circulating medium ..
To relieve the market from this incumbrance was the principal object he had at present in view ; and this he hoped to accomplish by funding the Navy Bills , and some others no-. v ' outstandmg , and that up to the latest period . In order , the ' -elbre , to proportion the twins according to the length of time those Bills had to run , he would endeavour to divide them into certain classes . ( For these classes we beg to refer our Readers to our last Number , page 2 S 9 . ) This measure , Mr . Pitt had sanguine hopes , would greatly contribute to relieve the public credit , and extricate it from the embarrassments under which it novr
laboured . On some other day he would make a . more specific proposition . He would now content himself with moving , that A provision be . made for paying off the Navy Bills issued up , to the 27 th of October 1796 , amounting to 11 , 993 , 1631 . 19 s . 9 d . Mr . Hussey observed , that this was making a new loan at six per cent ., to pay off an oid debt ; which observation gave rise to some conversation between him and Mr . Pitt . Mr . Fox disapproved highly both of the measure itselfand of the particular
, time when it was proposed . To the many grievances under which the people already laboured , it wo . -jki expose them to the . new and unexampled burthen of paving 103 per cent , for the money advanced on those Navy Bilis , which , at one year ' s interest , would , by the excess of the in'erest , amount to the sum of 240 , 0001 . As to the time , none could be more unfavourable to a good bargain for the public , when we were in the middle of a war , when a negociation was on foot from which little success was expected , and when consequently-the funds experienced the greatest fluctuationby which the public could not profitif the bar
, , - gain was so suddenly concluded . .. . . ¦ Mr . Pitt , Mr . Fox , Sir William Pulteney , and Mr . Hussey made a few .. more observations ; after which the question was put ' and agreed to ,. nem . con . Monday , 31 . . The Order of the Day being read , the House resolved itself intoa Committee of Ways and Means . . ,...., -. , Ths Clerk having again read the resolutions ,