The Dawn of the XIXth Century in England: A social sketch of the timesAshton, John
History
The Dawn of the XIXth Century in England: A social sketch of the times
Ashton, John
England -- Social life and customs -- 19th century
This, the Chancellor of the Exchequer was enabled to do, by taking half
a million of money from unclaimed Dividends, and by other means, shown
by the following resolutions of the Court of Directors of the Bank of
England:
“January 14, 1808. Resolved, That the proposal of Chancellor of the
Exchequer, to take £500,000, from the unclaimed Dividends, in addition
to the former sum of £376,397, be acceded to by this Court....
“Resolved, That the Court of Directors do accede to the proposal of
the Chancellor of the Exchequer to lend, for the use of government,
£3,000,000, on Exchequer bills, without interest, during the war,
provided it is stipulated to be returned within six months after
the ratification of a treaty of peace, and under the complete
understanding, that all transactions between the public, and the Bank,
shall be continued in the accustomed manner, even though the amount of
public balances should exceed the sum of ten millions.”
On the 9th of February, Sir Francis Burdett asked a very pertinent
question in the House, anent the presentation of £20,000 by His Majesty
to the Duke of York, out of _Droits of Admiralty_. He said that “it
had been stated in the public prints that His Majesty had granted
large sums out of the proceeds of property belonging to nations not at
war with this country, to several branches of the Royal Family, and
particularly to the Duke of York. What he wished to know was, whether
this statement was correct; and, if so, upon what ground it was that
His Majesty could seize the property of nations not at war with this
country?”
The Chancellor of the Exchequer (Right Hon. Spencer Perceval) was
willing to give the hon. baronet every information he required
on the subject. But first, he must apprize the hon. baronet of a
misapprehension which he seemed to labour under, with respect to the
principle upon which His Majesty’s right to the property in question
was founded. It was true that the property had been seized previous
to His Majesty’s formal declaration of war, but war had since been
declared, and the question respecting the property had been referred
to the competent tribunal, and condemned. The right of His Majesty,
therefore, grounded upon such a decision, was incontrovertible. It was
true that His Majesty had granted a certain sum out of the proceeds of
such property to each of the junior male branches of the Royal Family,
and to the Duke of York amongst the rest.
Public-domain text, read in full here on John Shaqi.
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