itable adjustment, we should have betrayed
the honour of the country; we should have destroyed its credit and
reputation for fair dealing, justice, and honesty; and, for this paltry
diminution of the annual expense of the debt in 1819, we should have
lost the advantages since acquired, as detailed to the House by my noble
friend, amounting to a diminution of the annual charge of the debt, not
of 1,200,000 l., but nearly of 5,500,000 l. or the interest of
150,000,000 l. of capital at 3 per cent. This is a fair calculation of
the comparative advantage of what has been done, and what might have
been done, by a supposed equitable adjustment.

_May 6th, 1830._

* * * * *

_The Shipping Interest has not been Neglected._

These reciprocity treaties were adopted with a view to decrease the
price of freight in this country to our merchants, and with a view to
their taking in abroad, and bringing home, their commodities at a
cheaper cost of transit. These treaties were, my Lords, framed with a
foresight of the state of commerce which was likely to ensue in the
world in future times which were then immediately before us. We were,
therefore, to diminish the expense of shipping to meet the new
contingencies; and to enable those engaged in commerce to carry on their
trade under all the difficulties of a new situation; and the object of
those laws was to lower the price of commodities for that purpose. What
was the result?--profits upon specific articles became reduced; but
since the year 1814 the trade in them has nearly doubled. What the
shipping interest then lost in the reduced amount of freight per
tonnage, they regained in the greater number of voyages which commerce
opened to them.

_May 13th, 1830._

* * * * *

_Eulogium on George IV._

My lords, our late Sovereign received the best education which this
country affords. He had, also, the singular advantage of having passed
all the earlier period of his life, and the greater part of his manhood,
under the superintendence of the King, his father, and subsequently in
the society of the most eminent men whom this country possessed; and he
likewise enjoyed the society of the most distinguished foreigners who
resorted to this country. His Majesty's manners accordingly received a
polish, his understanding acquired a degree of cultivation, almost
unknown in any other individual. My Lords, he carried those advantag