that another such emergency might arise, when the Lords might interfere with salutary effect to save the country from the evil result of ill-considered legislation; finance being, above all others, the subject on which a rash or unscrupulous minister may find the greatest facility for exciting the people by plausible delusions.  There is, moreover, another reason why it would not only be impolitic, but absolutely unfair, to deprive the Lords altogether of their power of rejection even in cases of taxation; namely, that the Commons, when imposing taxes, are taxing the Lords themselves, as well as the other classes of the community; while the Lords alone of the whole nation are absolutely unrepresented in the House of Commons.  There is a frequent cry for a graduated income-tax; and surely if an unscrupulous demagogue in office were to contrive such a graduation as would subject a peer to three times the income-tax borne by a commoner, it would be a monstrous iniquity if the peers were to have no power of protecting themselves in their own House.

In the last sentence of his speech the Chancellor of the Exchequer had “respectfully reserved to himself the freedom of acting in such a way as should appear to offer any hope of success in giving effect by a practical measure to the principle contained in the first resolution.”  And it was, probably, an exemplification of the power of which he thus bespoke the use that he the next year struck out a scheme for insuring the repeal of the paper-duties, including it in one bill with all his other financial propositions, instead of dividing them in the ordinary way in several distinct bills.  It was a manoeuvre which too much resembled the system of “tacking,” which had been so justly denounced as one of the most unseemly manoeuvres of faction in the previous century.[316] But, as some of the principal reasons which in the preceding year had led the Lords to condemn the repeal had ceased to exist, and the deficiency of the revenue had been converted into a surplus, they thought it wiser to prove their superiority of wisdom to the House of Commons by showing a more conciliatory spirit, and passed the bill; though the course adopted, which had the effect of depriving the Lords of that power of examination of the details of the financial scheme of the government which they had hitherto enjoyed without any question or dispute, was strongly protested against in both Houses, and by some members who were not generally unfriendly to the administration.

A hundred years had now elapsed since George III. ascended the throne.  It had been a period full of transactions of great importance, developing the constitution in such a manner and to such an extent as to make a change in its character but little inferior to those which had been produced by the contests of the preceding century.  One principal result of the Revolution of 1688 has been described as having been the placing of the political power of the state