It will be necessary here to say a few words on the subject on which gentlemen have been so fond of dwelling; I mean our former negotiations, and particularly that at Lisle in 1797.  I am desirous of stating frankly and openly the true motives which induced me to concur in then recommending negotiation; and I will leave it to the House, and to the country, to judge whether our conduct at that time was inconsistent with the principles by which we are guided at present.  That revolutionary policy which I have endeavoured to describe, that gigantic system of prodigality and bloodshed by which the efforts of France were supported, and which counts for nothing the lives and the property of a nation, had at that period driven us to exertions which had, in a great measure, exhausted the ordinary means of defraying our immense expenditure, and had led many of those who were the most convinced of the original justice and necessity of the war, and of the danger of Jacobin principles, to doubt the possibility of persisting in it till complete and adequate security could be obtained.  There seemed, too, much reason to believe that, without some new measure to check the rapid accumulation of debt, we could no longer trust to the stability of that funding system by which the nation had been enabled to support the expense of all the different wars in which we have engaged in the course of the present century.  In order to continue our exertions with vigour, it became necessary that a new and solid system of finance should be established, such as could not be rendered effectual but by the general and decided concurrence of public opinion.  Such a concurrence in the strong and vigorous measures necessary for the purpose could not then be expected but from satisfying the country, by the strongest and most decided proofs, that peace on terms in any degree admissible was unattainable.

Under this impression we thought it our duty to attempt negotiation, not from the sanguine hope, even at that time, that its result could afford us complete security, but from the persuasion that the danger arising from peace under such circumstances was less than that of continuing the war with precarious and inadequate means.  The result of those negotiations proved that the enemy would be satisfied with nothing less than the sacrifice of the honour and independence of the country.  From this conviction a spirit and enthusiasm was excited in the nation, which produced the efforts to which we are indebted for the subsequent change in our situation.  Having witnessed that happy change, having observed the increasing prosperity and security of the country from that period, seeing how much more satisfactory our prospects now are than any which we could then have derived from the successful result of negotiation, I have not scrupled to declare, that I consider the rupture of the negotiation, on the part of the enemy, as a fortunate circumstance for the country.  But because these are my sentiments at this time, after