The New Hampshire Gazette

LONDON. March 12.

Mr. Grey established the very strong facts which he undertook to present to the House of Commons beyond the power of refutation. He proved these points:

That above seventy even millions, eight hundred thousand pounds of debt, incurred by the present war, had already been funded.

That twenty two millions remained floating and unfunded: and that this sum of an hundred millions had been squandered in the three first years of the war.

That this was more than double the expense of any three years of any war in which this country was ever engaged.

That of this sum, almost as much had been spent without estimate, and consequently without authority of the Parliament, as with it.

That barracks were built up for an army of 40,000 men, to be kept up in time of peace.

That by the new system, the peace establishment could not be less than twenty two millions per annum.

That the permanent revenue was not likely to be more than 19,500,000l

That consequently if peace were made to-morrow, independent of winding up the war expenses, there must be additional taxes to the amount of 2,500,000l. to carry on the peace.

That, in direct violation to the provision of the act of Queen Anne, which declares, that if the bank should advance money to government without grants from Parliament, they should forfeit treble the sums advanced, ministers had procured large sums of money in advance from the bank.

That they had artfully smuggled into an act, a clause repealing the wholesome provision in the act of Queen Anne, and that now the bank was in advance the enormous sum of 11,800,000l