scheme for the conversion
of the so-called "Navy 5 per cents.," which resulted in a saving of
above L1,000,000 annually. He also carried a more questionable scheme
for the payment of military, naval, and civil pensions, which then
amounted to L4,900,000 a year, but were falling in rapidly; the money
required for this purpose was to be borrowed by trustees, and was to be
repaid in the course of forty-five years at the rate of L2,800,000 a
year; in this way an immediate saving of about L2,000,000 annually was
effected at the cost, however, of the next generation. By means of these
expedients, with a considerable reduction of official salaries, the
government was enabled to repeal the additional duty on malt, to
diminish the duties on salt and leather, and, on the whole to remit
about L3,500,000 of taxes. When the entire credit of financial reform is
given to Huskisson, Joseph Hume, and other economists of the new school,
it should not be forgotten that a beginning was made by economists of
the old school, before Huskisson joined the government in 1823, or
Robinson took Vansittart's place as chancellor of the exchequer.

From the beginning of this reign a more enlightened spirit may be traced
in parliamentary debates. This was aided by the growth of a
constitutional movement in favour of reform in parliament as the first
step towards a redress of grievances. The movement left its first trace
on the statute-book in a measure carried by Lord John Russell in the
session of 1821 for the disfranchisement of Grampound, though the vacant
seats were transferred to the county of York, instead of to the
"village" of Leeds or some other of the great unrepresented cities. This
was the first instance of the actual disfranchisement of a constituency,
though it was not without precedent that the franchise of a corrupt
borough should be extended to the freeholders of the surrounding
district. A notable sign of the progressive change was the
reconstruction of the cabinet in 1822. Liverpool, who always possessed
the gift of working harmoniously with colleagues of different views and
felt the weakness of his present ministry, once more attempted to bring
about a coalition with the Grenville party in the opposition. Grenville
had long been drifting away from his alliance with Grey, and had been a
stout advocate of repressive legislation which the more advanced whigs
opposed. Though he declined office for himself, several of his relatives
and