ion to support him in such measures as might yet be necessary,
either for the restoration of peace or the prosecution of war. In
both houses the motion was carried unanimously, though there were long
debates in which the comparative merits or demerits of the late and
present ministries were canvassed. All parties, however, agreed that
the continuation of war, and that an increase of power and a proper
direction to our military forces were necessary. An augmentation of sea
and land forces was voted; the total sum devoted to the navy alone being
L17,400,337. The number of seamen including marines was 130,000, and the
number of men under arms about 300,000; while the volunteers actually
armed and regimented nearly amounted to the same.

FINANCIAL ARRANGEMENTS.

On the 29th of January Lord Henry Petty, as chancellor of the
exchequer, submitted to the house an estimate of the supplies required
for the year, and of the ways and means by which he proposed to meet
them. The expenditure was calculated at a grand total of L45,841,340,
being L40,527,065 for Great Britain, and L5,314,275 for Ireland. Lord
Petty's plan of finance, in order to meet this expenditure, assumed that
the annual produce of the permanent and temporary revenue would continue
equal to the produce of the preceding year; keeping these premises in
view, Lord Petty proposed that the war-loans for this year and the two
next should be L12,000,000 annually; for 1810, L14,000,000, and for the
next ten years L16,000,000. These loans were to be made a charge on the
war-taxes, which were estimated to produce L21,000,000 annually, and
this charge was to be at the rate of ten per cent, on each loan, five
per cent, interest, and the remainder as a sinking-fund, which at
compound interest would redeem any sum of capital debt in fourteen
years. Lord Petty said that the portion of war-taxes thus liberated
successively might, if war continued, become applicable in a revolving
series, and be again pledged for new loans. It was material, however, he
explained that the property-tax should cease on the sixth of April next,
after peace was ratified, and that on the result of the whole measure
there would not be any new taxes imposed for the first three years from
this time. All that was necessary would be new taxes, of less than L300,
000, on an average of seven years from 1810 to 1816, inclusive. This,
he continued, would procure for the country the full benefit of the plan