bearing upon any other transaction. But after every deduction and abatement, the annual legislation of Parliament is a result of singular importance; were it not so, it could not be, as it often is considered, the sole result of its annual assembling.
Some persons will perhaps think that I ought to enumerate a sixth function of the House of Commons—a financial function. But I do not consider that, upon broad principle, and omitting legal technicalities, the House of Commons has any special function with regard to financial different from its functions with respect to other legislation. It is to rule in both, and to rule in both through the Cabinet. Financial legislation is of necessity a yearly recurring legislation; but frequency of occurrence does not indicate a diversity of nature or compel an antagonism of treatment.
In truth, the principal peculiarity of the House of Commons in financial affairs is nowadays not a special privilege, but an exceptional disability. On common subjects any member can propose anything, but not on money—the minister only can propose to tax the people. This principle is commonly involved in mediaeval metaphysics as to the prerogative of the Crown, but it is as useful in the nineteenth century as in the fourteenth, and rests on as sure a principle. The House of Commons—now that it is the true sovereign, and appoints the real executive—has long ceased to be the checking, sparing, economical body it once was. It now is more apt to spend money than the minister of the day. I have heard a very experienced financier say, “If you want to raise a
