mas were by this act to be paid into the bank upon account of the furplaffes of the finking fund; and the annuities growing due yearly upon the whole of this joint fuck were, by the act・ which eftabBhed it, to be paid out of the Buking fund yearly at Lady-day and Michaelmas.

This is the fubftance of the act; but I fuppofe no part of the princi Bal monies were paid into the bank before the faid 25th of December, 1766; for as a great many new exchequer bills were to be fed by the act I have last mentioned, I reckon the whole produce of the public revenue was applied as fat as it came in, either to the immediate public fervice, or to the pay ing of the old exchequer bills, in order to delay as long as poffible the iffuing of any now hills, becaule 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 hill or bills be re-illued for fume public fervice.

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

be charged on the finking fund; which was then read a fir time, and ordered to be read a fecond time. And as it was in fubfiance nothing more than that of converting the first of the faid refolutions into the form of an act, it afterwards paffed through both houfes in common courfe, and received the royal affent at the end of the letion.

In further purfuance of the faid order, Mr. Paterfon, on the faid 7th of May, prefented to the house a bill for granting to his Majesty a certain fum of money out of the finking fund, and for applying cer, tain monies therein mentioned, for the fervice of the year 1705; which was then read a first time, and ordered to be read a fecond time. The next day it was read a fecund time, and committed to a committee of the whole houfe for next morning, which was at feveral times put off until the 13th, when after reading the order of the day, intructions were feverally ordered to the committee, that they fould have power to receive a claufe of credit, and allo a claufe of appropriation, and it was ordered that fo much of his Majefty's fpeech to both houfes on the 15th of November 1753, as related to the money arising from the fale of prizes vefied in the crown, and to the fums which fhould arife by the fale of the ceded islands, being ap plied to the public fervice, thould 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 lubject to the difpofition of parliament, be referred to the faid committee.

With these inftructions and re[P] 3 ferences

ferences the house refolved itfelf 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 entitled, 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 feflion 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 fuud referred to the committee upon the bill, there appeared to be then in the receipt of the exchequer the fum of 4395861. 10 s. 2 d., confequently, by virtue of the claufe of credit contained in the act, the treafury were impowered to raife but 17104131. 38. 9d. which they were impowered to raile by loans or exchequer bills, without any limitation of interest: 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, 800001. The fecond refolution of ditto 1810001. The third refolution of ditto. The 5th refolution of February 15th of that of fupply,

These were all the bills paft into laws that can properly be called money bills; but there were fome other bills paffed from whence fome addition may arife 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 fhall fee what may be our neceffary annual expence hereafter in time of the most profound peace; for as we had not last year lo much as one Spithead expedition nor one German prince fubfidized, we cannot expect to be in any future year at a lefs public expence. Among our debts paid off I fhail reckon fervices incurred and not provided for, and likewife 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. There fore from the fum total of last year's grants, we must deduct the following refolutions, viz.

The

His Majesty's most gracious speech to both boufes of parliament, on Tuef day the 14th day of January, 1766; with the bumble adureffes of both boufes upon that occafion, and his Majesty's most gracious anfaver.

My Lords, and Gentlemen,

HEN I met you laft I acquainted you, that matters of importance had happened in America, which would demand the most serious attention of parliament.

That no information which could ferve to direct your deliberations in fo interesting a concern might be wanting, I have ordered 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.

of

No time has been loft, on the firft advice of thefe difturbances, to issue orders to the governors my provinces, and to the comman ders 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 crows, your attention to the juft rights and authority of the British legiflature, 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 œco, noniy of the plantations, which may tend to enlarge and fecure the mutual and beneficial intercourfe of my kingdoms and colonies, they will deferve your moft ferious confideration. In effectuating pur pofes fo worthy of your wifdem and public fpirit, you may depend and fupport. The present happy upon my most hearty concurrence tranquillity, now fubfifting in Europe, will enable you to purfue with a more uninterrupted atten fuch objects of our interior policy

tion.

Gentlemen of the houfe of
Commons,

I have ordered the proper esti

mates

throne.

ration.

ers of government in the fuppref fion of riots and tumults, and the fupport of order and legal authority, Concurring heartily with your Ma jefty's falutary intentions, we will exert our utmost endeavours to affert and fupport your Majefty's dignity and honour, and the leg lative authority of this kingdom over its colonies; and will take into confideration the most proper methods to provide for the teftoration of the tranquillity of thofe colonies, which has been disturbed by fuch violent and dangerous com motions.

We congratulate your Majefty, that the fate of tranquillity, to happily fubfifting in Europe, leaves us at leifure to attend to the mytual commercial concerns of your kingdoms and colonies.

Permit us, Sir, to condole with you on the lofs your Majefty and your royal family has fuftained, by the premature death of his R! Highness Prince Frederick Wil ham; 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 Majefty fo graciouly recommends. You will find, Sir, that our fentiments correfpond with your Majefty's gra cious intentions towards all your fubjects; and that all things which may tend to re-establi tranquillity and order, and to ce ment the feveral parts of the Britifh dominions in a clofe connec tion and conftitutional dependence, fhall be the firft objects of our attention; that fuch a firm authotity may be eftablished, and fuch

a ge.