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mas were by this act to be paid into the bank upon account of the furpluffes of the finking fund; and the annuities growing due yearly upon the whole of this joint Rock were, by the act * which establifhed it, to be paid out of the finking fund yearly at Lady-day and Michaelmas.

This is the fubftance of the act; but I fuppofe no part of the principal monies were paid into the bank before the faid 25th of December, 1766; for as a great many new exchequer bills were to be iffued by the act I have laft mentioned, I reckon the whole produce of the public revenue was applied as fast as it came in, either to the imme. diate public fervice, or to the paying off the old exchequer bills, in order to delay as long as poffible the iffuing of any new bills; becaufe no exchequer bill bears any intereft until it is iffued, and confequently every day's delay in if fuing it, is a day's intereft faved to the public, as the intereft upon fuch bill is not payable termly but daily, until they are returned again into the exchequer, or into the hands of fome revenue-collector, from which day the intereft ceafes until the bill or bills be re-iffued for fome public fervice.

April 21. The refolutions that day reported being, after fome debate upon the first, agreed to, it was ordered that a bill, or bills, fhould be brought in upon them, and to be prepared and brought in by the fame gentleman appointed to bring in the laft mentioned bill. In pursuance of this order, Mr. Paterfon, on the 7th of May, prefented to the houfe a bill for raifing a certain fum of money, by way of annuities and a lottery, to

charged on the finking fund; wh was then read a firt time,, and dered to be read a fecond time. And as it was in fubftance nothing more than that of converting the first of the said refolutions into the form of an act, it afterwards paffed through both houses in common courfe, and received the royal affent at the end of the feffion.

In further pursuance of the faid order, Mr. Paterfon, on the faid 7th of May, prefented to the houfe a bill for granting to his Majesty a certain fum of money out of the finking fund, and for applying certain monies therein mentioned, for the fervice of the year 1766; which was then read a first time, and ordered to be read a fecond time. The next day it was read a fecond time, and committed to a committee of the whole house for next morning, which was at feveral times put off until the 13th, when after reading the order of the day, inftructions were severally ordered to the committee, that they fhould have power to receive a claufe of credit, and also a claufe of appropriation, and it was ordered that fo much of his Majefty's fpeech to both houfes on the 15th of November 1763, as related to the money arifing from the fale of prizes vefted in the crown, and to the fums which fhould arife by the fale of the ceded islands, being applied to the public fervice, fhould be referred to the faid committee, and alfo that the account of the produce of fuch part of the finking fund on the 5th of April, 1766, as was fubject to the difpofition of parliament, be referred to the faid committee.

With thefe inftructions and re[P] 3

*See act 3 Geo, III. chap, 9.

ferences

ferences the house resolved itself into the fame, and having gone thro' the bill, and made all the proper amendments, the report was next day received, the amendments agreed to, and the bill, with the amendments, ordered to be ingroffed. On the 22d it was read a third time, being now intitled, A bill for granting to his Majefty a certain fum of money out of the finking fund; and for applying certain monies therein mentioned for the fervice of 1766; and for further appropriating the fupplies granted in this feffion of parliament. It was then paffed, and fent to the Lords for their concurrence, which their Lordships granted without any amendment; and at the end of the feffion it received the royal affent.

As to this act itself, I think it neceffary to obferve, that from the account of the produce of the finking fund referred to the committee upon the bill, there appeared to be then in the receipt of the exchequer the fum of 4395861. 10s. 2 d. 4, confequently, by virtue of the claufe of credit contained in the act, the treasury were impowered to raise but 1710413 1. 3 s. 9d. which they were impowered to raise by loans or exchequer bills, without any limitation of intereft: and as to the other fums applied by this act to the fervice of 1766, they confifted of thofe mentioned in the following refolutions of the two grand committees of fupply and ways and means, viz. The first refolution of the 29th of April of that of ways and means, 80000l. The fecond refolution of ditto 181000!. The third refolution of ditto. The 5th refolution of February 15th of that of fupply,

The 4th

2321 1. 148. 1od. .
refolution of April 29th of that
of ways and means, 60000l. The
fecond refolution of March 13th
of that of fupply, 747771. 14S.
And the 4th refolution of March
27th of ditto, 11671. 10s. fo
that the other fums applied by this
act to the current service amount to
1992261. 18s. iod, and half a
farthing, making in the whole
23492261. 18s. Iod., beside the
produce of the duties on gum
Senega, which could not then be
known.

These were all the bills past into laws that can properly be called money bills; but there were fome other bills passed from whence fome addition may arise to the public revenue. We may now calculate what was granted by last feffion for the payment of debts contracted during the last war, and what was granted for emergencies that may not annually occur; from whence we shall fee what may be our neceffary annual expence hereafter in time of the moft profound peace; for as we had not last year fo much as one Spithead expedition nor one German prince subsidized, we cannot expect to be in any future year at a lefs public expence. Among our debts paid off I shall reckon fervices incurred and not provided for, and likewise the deficiencies, and replacings to the finking fund; for though fome fuch may probably occur every year, yet they may more properly be called debts paid off, or emergencies, rather than a part of the neceffary annual expence. Therefore from the fum total of last year's grants, we must deduct the following refolutions, viz.

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STATE PAPERS.

His Majefty's most gracious speech to both houses of parliament, on Tuef day the 14th day of January, 1766; with the bumble addreffes of both houses upon that occafion, and his Majefty's most gracious anfwer.

My Lords, and Gentlemen,

WHEN I met you last I ac

quainted you, that matters of importance had happened in

America, which would demand the moft ferious attention of parliament.

That no information which could ferve to direct your deliberations in fo interefting a concern might be wanting, I have ordered all the papers that give any light into the origin, the progrefs, or the tendency of the difturbances which have of late prevailed in fome of the northern colonies, to be

immediately laid before you.

No time has been loft, on the firft advice of thefe difturbances, to iffue orders to the governors of my provinces, and to the commanders of my forces in America, for the exertion of all the powers of government in the fuppreffion of riots and tumults, and in the effectual fupport of lawful authority.

Whatever remains to be done on this occafion I commit to your

wisdom; not doubting but your zeal for the honour of my crown, your attention to the juft rights and. authority of the British legislature, and your affection and concern for the welfare and profperity of all my people, will guide you to fuch found and prudent refolutions, as may tend at once to preserve those conftitutional rights over the colonies, and to restore to them that

harmony and tranquillity, which have lately been interrupted by riots and diforders of the most dangerous nature,

If any alterations fhould be wanting in the commercial œconomy of the plantations, which may tend to enlarge and fecure the mutual and beneficial intercourse of my kingdoms and colonies, they will deferve your most ferious confideration. In effectuating pur and public fpirit, you may depend pofes fo worthy of your wisdom upon my moft hearty concurrence tranquillity, now fubfifting in Eu and fupport. The prefent happy tranquillity, now fubfifting in Eufuch objects of our interior policy rope, will enable you to purfue with a more uninterrupted attention.

Gentlemen of the house of
Commons,

I have ordered the proper efti

mates

mates for the current fervice of the year to be laid before you. Such fupplies as you may grant fhall be duly applied with the utmoft fidelity, and fhall be difpenfed with the strictest œconomy.

My Lords, and Gentlemen,

I earnestly recommend to you to proceed in your deliberations with temper and unanimity. The time requires, and I doubt not but your own inclinations will lead you to those falutary difpofitions. I have nothing at heart but the affertion of legal authority, the prefervation of the liberties of all my fubjects, the equity and good order of my government, and the concord and profperity of all parts of my do

minions.

The Addrefs of the House of Lords.

Moft gracious Sovereign,

WE your Majesty's moft loyal

and dutiful fubjects, the Lords Spiritual and Temporal, in parliament assembled, beg leave to return our hearty and moft unfeigned thanks to your Majefty for your moft gracious fpeech from the throne.

We gratefully acknowledge your Majefty's goodness and condefcenfion, in ordering to be immediately laid before us all the materials of information, which may serve to direct our proceedings upon the very important objects which your Majefty has proposed to our confide

ration.

We cannot avoid expreffing our fatisfaction in your Majefty's parental care and vigilance, in lofing no time to iffue the neceffary orders, for exerting the feveral pow

ers of government in the fuppreffion of riots and tumults, and the fupport of order and legal authority. Concurring heartily with your Majesty's falutary intentions, we will exert our utmost endeavours to affert and fupport your Majefty's dignity and honour, and the legislative authority of this kingdom over its colonies; and

will take into confideration the

molt proper methods to provide for the restoration of the tranquillity of thofe colonies, which has been disturbed by fuch violent and dangerous commotions.

We congratulate your Majefty, that the fate of tranquillity, fo happily fubfifting in Europe, leaves

us at leifure to attend to the mu

tual commercial concerns of your kingdoms and colonies.

Permit us, Sir, to condole with you on the loss your Majefty and your royal family has fuftained, by the premature death of his R. Highness Prince Frederick Wil

liam; whofe amiable qualities and early attainments afforded fo pleafing a profpect of happiness to your Majefty, and of advantage to your kingdoms.

Our deliberations will, we trust, be conducted with that prudence and temper which your Majesty fo graciously recommends. You will find, Sir, that our fentiments correfpond with your Majefty's gracious intentions towards all your fubjects; and that all things which may tend to re-establish tranquillity and order, and to cement the feveral parts of the British dominions in a clofe connection and conftitutional dependence, fhall be the first objects of our attention; that fuch a firm authority may be established, and such

a ge

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