The Express. — London, England, 1852-05-01 00:00:00

IMPERIAL PARLIAMENT. HOUSE OF LORDS.—FstmaT, APRIL 30. The house met at 5 o'clock. PETITIONS PRESENTED. M*YNOOTK GitAlll.—By the Eerier SHAFTESBURY, 26 petitions from various parts of the country, against the grant W Maynooth. Vale Taasin.—lly the Doke of NEWCASTLE. from the merchants of Stemma, against any alteration in the system of free trade. elitaTAL PALACII.-187 the Earl of ALBEMARLE, from a place not heard, in Coeur of the retention of the Crystal Palace. Tarr is UNICIIMITIIII.—By the Earl of ABERDEEN, from St. Andrews, praying for the abolition of tests in Scotch universities. GENERAL. ROSAS. The Earl of MALME6I;I' 11l said that in order to pre vent any misapprehension on the subject of a question , which bad been put to him last night by a noble marquis '• (Clanricarde) with reeled to what orders bad been sent by the Treasury to the outports for the reception of Cleo. ROOM, he wished to replay that as the orders were given six weeks ago he could not charge his memory at the time ea to what they were. lie had since referred to the papers, and found that the dircetions bad been contained in • letter to the Tr..asury, which was to the eff.-et--.. that the Earl of Maltrumbury requt steel that the officers of the cus toms at Southampton. Portsmouth, and Plymouth, should reertvedireetions to treat General Rosa*, in re +pea of the passiiig of his baggage, with the consideration and eour toy which was due to • person who had occupied such a position ea he had." That was almost 'e stereotyped torm, which we, abed with respect to all fun isnere 01 distinction, and it was customary for the Foreign Mike to give directions that they should be as treated ic the passing of their bag gage and rthvta. That did not exempt them from the pay]- .ae rat of duty, hot was merely an act of comma, which he th , .ught ought to have been paid to &person in the situation of General 'togas. Earl GRANVILLE said that the explanation of the noble earl was quite satislactory. All he had wished to i l know was, whether any special iustructions had been is sue d with recant to Gene rid Rotas • After a few words from Lord ILLONTEAULE and the Earl of Atc kettle:4, the 11,0 of HARROWDY complained that when lien• eel Russ. h a d arr i v ed in Enelawl with the blood of an English suhp et, Lieutenant Warden, on his halms, he should bare received mark+ of distinction which were laser shown top. cun at his isaiti.m. The Elf' of MALMESUVItY Jul nut think that the noble curl could have been in the house when he first ad dressed it, because he then datinctly Witted that no ad- ilitional .nsiers with ri gard to General Roam had been met by the Admiralty or the Foreign-:Ace, as to how or when or where lie was to be received. COPYILIGHE AMENDMENT BILL. On the motion toe p ing into enrginsitto• on this bill, LOT BEAUMONT complained that several clauses of th. tot: were calculated to he injutious to literature, parti cularly as regarded foreign tranalations. and that as re garded dramatic production the power of preventing re pre emmtiess of translated foreign paces was unnecessarily severe. As the bill was founded on a treaty, he should not move any amendments in committee. The Maryut. of NORMANHY explained the mode in which the terms of th e with regard to international MFrench For, had been a with . Ha:oche, the For, urn secretary, and wed that he (Lord Norntanby) had obtained • greater Protection for translatnu from Eug bah works iu fern..., thus preventing the system of pirat ing urea publication of them at • cheap rate, and stated that even M. tialignani approved of the bill. The treaty had met with general smut after it was published, and the bill merely carried it out, and *reared a protection to BMA literature which it bad never obtained before. Ater a few words from Lord CILUIWOITIL and Lord Cointoorak, The hill passed through committee. The Exchequer Bills Bill was advaneci a stage. The Sheep, Me. ' Contagions Dimarden Bill was read a third time, and passed. The house then adjourned shortly before 6 o'clock. HOUSE OF COMMON3.—FaIDAT, APRIL 30. The Sraitain look the chair at 4 o'clock. KEW MEMBER.. Mr. Langer took the oaths and his seat for the city of Worcester, in the room of Mr. Raiford. PRIVATE BUSINESS. The Lords Amendments to the E tat Lmdon Waterworks Bill and the Scarborough Market and Approaches Bat were consiatited and agreed to. The British Empire Mutual Life Assurance Company Bill was read a third tints sad pared. rusue EqS. PETITIONS PRESENTED. M•eieuvra ENuowayrr Acr.—By Mr. DIJNCAN, tram Dunde e ; Lord R. GROSVENOR, from places in Middlemen; Mr. GREENALL, from Warrington; Sir J. DUCK WORTH, from Ezeter ; for repel of. llor IR:vv.—By Sir E. ULMER, from places in Kent, for repeal of . A I,ULTEILATION ur COV73I.—By Mr. T. RARING, front Ceylon, praying the house to take measures to prevent the adulteration of coffee. MILITIA BILL.—Mr. 11. BERKELEY, from MICA, Monmouth, against. lir. ALBANS DISIMANCHtsENZNT BILL—By Mr. A. HASTIE, from the magistrates and town counc il of Glas gow, praying that when disposing of the seats rendered vacant by the disfranchisement of Sudbury and St. Albans, the right of returning an additionsl or third member, be conferred en GIANTOW. NOTICES OF MOTION. Mr. HOBOES, in committee on militia, a clause respect- i deserte r - Mr. W. J.. a chine to prevent liability to compul sory service, except the name of the party balloted be on the registry of vows. OXFORD UNIVERSITY COMMISSION. _ It reply to Mr. Ilaywnon, Mr. Secretary WALPOLE stated that he had received the report of this COMUliftifil, which was very voluminous, and he bad not yet had time to read it through, which of course it was his duty to do before laying it before her Ma. jesty ; and, until he received her Midest's commands on the subject, he could not say when heshould be able to lay it before parliament. HALIFAX AND QUEBEC RAILWAY. Mr. COIIDEN understood that new negotiations were in progress on this ronject ; and, as he happened to know that there was great difference of opinion in Canada, especially in Upper Canada, on the subject, he hoped that before go- vernment came to any conclusion the house would be afforded the opportunity of forming a judgment on the Sir J. PAKINOTON said it was duo to the late go vernment to state that be (Sir J. Pekingtm) believed nothing bad taken place between that government and the promoters of the railway that could amount to a qualified assent. On the contrary, the language of the noble lord the late Secre tary for the Colonies was that government would be no parties to the guarantee unless they were satisfied with the scheme. He might add that the subset was now under consideration by the government. THE RECEPTION OF GENERAL ROSAS. Mr. ROEBUCK, on the motion that the house at its rising do adjourn to Monday, rose to put the question of which he had Riven notion. It appeared by the public pipers that a treasury order was mat down from London to the &Wiwi ties at Plymouth respecting the reception of General Rams, sad whethir that were so or not, it wee stated that on the arrival of General Now at Plymouth he was waited on by the commander there, and that by a Treasury order his property, such as he had with him, was allowel to peas the ett,tona-house without examination, and that facilities . . wen afforded to him which were not usually extended ta ether thaa the most distinguished individuals. ne moat complete hospitality and protection was one Wog, the courtesy of England was another. This man was now in misfortune ; he had lost his power—a power marched fur 20 years in &winner which was a disgrace to human nature. What he desired to ask of the govern ment, was whether • treasury order had been sent down to facilitate in say way the reception of General Roma in thin country ; and whether a command had been given thatany person acting in en °Mehl rapacity . .ite.l receive him with respect, and pay him that attention which other refugee. had nut received ? The CHANCELLOR of the EXCHEQUER would riot follow the hon and learned gentleman in his invective against General Rosie Whatover might be the character or e sploit. of General Rosa, be at least was an individual with whom this country had often been in negotiation ; and if be was nut ismonsetly informed, he was ens with whom our gracious Sovereign hod mitered late a treaty. Therefore it must ho obvious to the house that be had been placed in important relations with the grows and people of England. (.. War, hear," from the ministerial benches.) With re gard to the Treasury order to which the hon. and learned gentleman referred, h. , had no hesitation in saying that an enter was scot down. It was sent down as s matter of opens ; and although neither himself nor any member of the "overarm at shrunk Irmo the ri simu.ibility of having sanctioned that order, it woe still a matter of form—a matter of form which he did not for a moment regret. This was the treasury order, and the house would me from its nature the character of the interference. " Gan- Utllleti "—it was aildreeseel to the Commuaionen of C• 1011110 --tt flew east Roe" the etc ruler of the Argentine 011111- feelsraton, Mina daily expected to arrive in England..► conspasii d by his daughter, on board the Conflict, I Mt Ss reefs d by my fords commimionen of the lemma hle that you will give orders to the officer* in your r oN at Portsmouth. Southampton , and Plymouth, is m ar General Ronan may receive the courtesy doe to a puma who has filled the exalted station in his country man Gemmel Rome has occupied." In giving that informttlen to the Imam, he begged to state that he knew no precedent by which a person who visited this country under the cir cumstances which brought o.neral ltoeas bile, who had occupied a sovereign position, and been in negotiation with the s.ve...cign of this country, could be treated in any otlo r manner. (" Hear, bear," from the ministerial benches.) Mr. 111.111 K asked whether the Admiralty had mint orders to osselobaoesunsaney to reeesse Oeneral Massie with °Mei il honours ; and, if so, whether such orders I.sd been sent to the authorities on any similar occasion ? The CHANCELLOR of the EXCHEQUER thought he had Mated most dis,inetly that no such orders bad Is , rt seat; but, at the same time, he begged to state that her Majenty's government entire :y . approved of the conduct of the oille•re at Devosport. DISTURBANCES IN THE NOIiTII OF IRELAND. Mr. REYNOLDS begged to ask the Attorney-General for Ireland whether it was the intention of government to introduce a bill against the licensed vintners of Great Britain sad itclaud as recommended by Major lkownria e d t him Mr. pion oa of the iv bee. sitting 'lona eadeal (hoe to Mr. Bernal, I fear peados are not on which 1 have the present day. , of the preferable call direct taxation. Well, I receive - attention of the bon. gentleman. and I am honoured by it ; but I fear, when 1 pursue the critical investigation to which in a usement I sad means, The CHANCELLOR of the EXCHEQUER wld--7[t' Bernal, the chief branch of the reveney sir, having mused by lapse of time, and a considsr►!'le dead", 114712 E ma sequently ensued, it would be incumbent on me, air, were there no other reason, to invite the consideration of the Hone of Common to the state of the public finances. Sir, of late year commercial considerations have been so mired up with the transactions and arrangements of the public finances, and unhappily political passions have so blended with all the points of commercial controversy, that I think, sir, it would he almost presumption to hope that on this oc casion I should be able to obtain, not only the serious, but the calm and unimpassioned attention of the house to the grave subject 1 am about to bring under their considers. tion. Out when I recollect that on the right principle s upon which the finances of • country is established must mainly depend the greatness of a realm and the happiness of a people, I am not altogether without hope that I may induce, ou this ()nation, gentlemen on either side to dismiss from their minds all prejudgment and prejudice, and join with me in a,, attempt clearly to comprehend the exact financial position of this country. (Hear, lieu.) Sir, when • minister, responsible for the condition ret finances, finds himself in the position to which I haw laded; when he has to submit to the house facts whicemina can di•pute, that, by the cession of a considerable source of revenue there is necessarily a considerable deficiency in dig public income, there is of count one question which bat* ably occurs to every one who is engaged is fan ilkseriss, via., what are the soundest means, and, at dio sons dims, would solicit hie attention, I shell not find that welcome adhesion to the principles of direct taxation which at the present he seems to evince. Now, ow: WO Nowa had Auriag the same 10 jean considerable) experience of the temper of . _ the House of Commons, and of the country, with respect to this third mode of raising the revenue of the country. And I wish to draw tho most serious attention of the house, if I can attract it, to this very important branch of the subject. It is exactly ten years ago since ono of the most eminent of modern statesmen, who was one of the principal means of effecting that reduction in our customs duties, and even our excise duties, to which I have recalled the recollection of the house, it is exactly ten years ago since he introduced, and successfully, a measure which entailed on this country a l►rge portion of direct taxation. Now, let me recall the recollection of tho house to the circumstances under which the property end income tax we introduced to our atten tion in the year 1842 ; the fortunes which it has experi enced ; and the fate which awaited it. Remember, that that important tax, which hem ceased now by the lapse of time—that that important measure of direct taxatien was introduced into the house apologetically. It was introduced as a measure necessitated by an emergency, and framed to meet an evJsemrq. And yet, even with all these circumstances, the He.. of Commons and the country could not be indeme 19 Oliva the tax unless it was framed on a large basis of nomptlass. (Hear, hear.) Nor was there in your acceptance of • direst tax an property and income any evidence that the inclinaties a the Use. at Commons as the country was in favour et and Main, bemuse the measure was in that imamate intredmed way as being justified by the emergency, and wee so samilelled that the multitude could not feel the op pressivemese of its operation. (Hear, hear.) What were the effeet if that law, of that tax, introduced as it was by one of the most powerful and able statesmen of modern times, notwithstanding all hie talent and all his power in this house ? It was with difficulty renewed, and could only be renewed after repeated discussions, and after motions made in this house by mem bers of great distinction, who impugned the justice of its provisions, and complained of the oppression of its enutments—(ministerial cheen)—until at last, before that ten yeah hal elapsed, it had become so odious and so unpopular, that its existence was only renewed provision ally, and that, too, on the severe condition, that it should be samitted to • critical scrutiny by a committee up-stain. Now, sir, so far therefore as the property and income tax is aseerned, the conduct of this house with respect to direct taxation, has scarcely been more encouraging, perhaps scarcely less so, than its conduct with regard to raising revenue by indirect taxation, either in the shape of duties on articles of foreign import, or on articles of domestic manufacture. Sir, it was my hope that before the difficult duty devolved on me of making the statement which I have now the honour of submitting to the house to-night, it was my hope that the report of the committee on the income tax might have been on the table. I feel great difficulty and delicacy, of course, in adverting to a subject which is still under consideration by a committee of this house. Of that committee I have the honour to be a member, and therefore, if I can do nothing else, I can say this, that I can bear witness to the impartial spirit, and the indefatigable industry with which the in quiries of that committee have been carried on—(" hear, hear," and cheers) ;—and I am sure, at least I hope, that the honourable gentleman opposite, who is chairman of that committee, will admit, that so soon as 1 had the power of exercising any influence in the conduct of its inquiries— that since that time I have at least thrown no obstacle in its way. (" Hear, hear," from Dlr. Hume.) I have not tried to narrow the issue on the question. I have given every facility to an investigation—which I thought the country required, and the results of which I have watched with the utmost interest. Under these circumstances it would be presumptuous in me to give an opinion on points upon which the committee have not as yet decided, or at least 1 upon which they have not officially informed the house of their decision. Yet there are one or two points upon which it is impossible for mo to be entirely silent. One great ob jection to a tax on property and income, one of the cause ails odium and unpopularity in this country, was unques tlonably that there was no difference between the mode of rating and amassment en income of a temporary, and that eta permaima dermeter. (Hear, hear.) Now, air, that meet important question, that most interesting and import ant maim is now submitted to your committee, and as I said before, it would be arrogant in me to give an opinion, until their opinion has been formally mad officially communicated to the house. But I must say dis i ant upon the subject we have received the amplest album item the ablest men. I may my that on that sub jut the unimilleee have listened to men who have made dm prlalgam is in which such assessments should be cal lOWA the of their lives , and who have brought to MS osimmittso that science could offer to aid and en =, and who have put before us every combination us experience and philosophy combined could devise aid Went. Sir, I will not presume, I say. to enter into Ilea question as to the justice or injustice of the solumes which those gentlemen—the most eminent actua ries in the country—have offered to us, but as a prac tical man, looking to the effect on our revenue, looking at it at this moment especially, when we have to consider the most desirable way in which revenue can be raised, I oral' my this—not prejudging the question at issue, not for a mament maintaining, neither acknowledging nor denying the es which those 'Amnia—moat eminent men in that —have offered, not denying that their prin• y be just—this I may say, that if their opinions be may ,I am painfully sensible of this, that Schedules A, 2, sad C will not be less odious than Schedule D. (Hear.) Well, then, when I am to recommend a system of raising revenge, I must consider circumstances of that character in emestions of finance, and that the feelings of the people nmestlMl amaidered as well as the principles of science. Owe) Th ere is another point on which I may Ma with more frankness as teasels taxes on peeparty and ,income. I have not to I will t rommed, ma , give an opinion on the rase err injustice a mire of reedng the income of ossuary ; but on an peat the consailese was unmans's'', sal their opinion ima be no seem, • I Wine it is the wasaimens opinion offer RC/LW of Commeme s sad I am me It la die mini milizi=:•_4l i f ir ampay, and that pan is that if taxes a elailieboacter Bite the income tot— em' a Impair ON el IMMO* a penmen* feature of our al isl= NM" Well'bua r em a sw artr ias t . es a et' Va. they will =lie dances of et Illarbsqw. seremesily to appeal tb rl gsr is ei el Ming 1•94a61. Be doubt direct Oman be be :therm an my, simple, and pane ; but, when yen wish to apply 11111=tamilles geeerally, It is areskibing the obstacles liras encounter, sad the prejsdiess you mato (Ministerial seem.) Bpi?, ia natty l i g el:i s isi;l ss iad epti Ltlis i s s lt ici that a n t r on w !t ho le • fiol uld ly us in Its application, as indirect taxa , SUL (Hear, lea) The INS who lives in the palace and the cottager, ff they otemme equally, are proportion ably assessed for indirect taxation. It le not possible that direct taxation could effect so close a molt, perhaps it is not necessary ; bat if year revenue is to depend mainly, 1 or In • great degree, on direct taxation, that you must make the application of direct taxation very general, is to me • conclusion that it is impossible to withstand. (Hear, hear.) No doubt, by establishing a temporary measure of direct taxation, based on a largo system of exemptions, you may give great impulse to industry, you may lighten the springs of that industry very effectually for a time, but not to dwell on the gross and sterna injustice of a system of finance that would tax directly • very limited portion of the population; not to dwell on that, but looking only to the economical and financial consequences of such a system, who can but feel that in the long run industry itself must suffer from it, for after all, what is direct taxation founded on but a system of exemptions ? It is in feet, and to • degree, a confisca tion of capital. (Hear, hear) It is making a war on capi tal which ultimately mast impoverish that industry which it is your object to cherish. (Hear, hear.) Well, then, when I lime examined the most notable essay in the direction of direct taxation which has occurred during the same period to which I have called your attention with re seed to the reduction of customs duties and excise duties, the same memorable ten years—is the instance of the pro perty and income tax, very encouraging to a minister who looks to direct taxation as a means of supplying deficiencies ? Framed with all Ouse objectionable circumstances it has ob tained great odium, and is universally admitted to have been founded on great injustice. Not that I am urging this as any objection to tho minister who introduced the mea sure. The minister who introduced it avowedly as a tem porary measure to meet the peculiar circumstances and en coustar an emergency vas perfectly justified in the course he took, and his success was deserved. But I ens speaking of • syst in of finance, wherein facts like these at present under discussion are to become a per , manna feature, end which if its fe inures of exemption be removed will exercise an influence vet different from that new anticipated by the country. But, sir, framed as this measure was by the most adroit of modern financiers, and tempered in all the features which might create apparent hostility, it has of late incurred such a degree of odium, and has been the source of so much oppression, that we have not been able to keep it standing, but have been obliged— at least those who were responsible for the finances of the what is the most popular and most practicable method, or, plabaps, I ought to say on such a subject, the method the least unpopular and iniAt predicable, by which we may Supply the deficiency which none can deny. It is nano , cosary for se to remind the house that the revenue of thi s coantry is raised, generally speaking, by three methods : by ditties as articles of foreign import; by duties on articles of domestic manufacture ; and, lastly, by a system of direct taxation. Now, we have to ingaire, in the first place, what are the means which are most practicable, and iu which I should be most successful in obtaining the consent of the house in haviug recourse to, iu order to replace the tioaocee of the country in that satisfactory state in which I em sure hon. gentlemen, wherever they tit in this house, wish them to be placed. (Hear, hear.) Now, sir, with regard to the first method—Tamely, that of raising an increased supply by duties on articles of foreign produce imported Into this country as a very considerable branch of the revenue is still raised by that method, that, perhaps, is the first means that naturally presents itself. Now, sir, . . . . - U I leek—if I try to an ticipate what may be the opinion of the House of Commons on that subject—if I observe whiff has occurred on the subject of customs duties during the several years in which the present parliament has exiiited—if I, indeed, extend the rasp of my observations, mad amine what was the eroded of the parliament which promekd this, I do not think that the prospect of supplying the deficiency, certainly in the present parks went, by an increase's( customs duties, is very encouraging. (Cheers keen the opposition.) Sir, since the year 1642- 10 years ego—from the year 1842—1 take that period because it is an epoch frequently referred to in this house, and considered by many (I think myself erroneously) as the inaugurating epoch of a new system in the management of our finances and of our commerce. If I take the period of 1842 to the present time—tlee ten years from 1842 to 1851 inclusive—l tied one very remarkable feature in the financial management of this eouutry, namely, that in every one of those years there has been • reduction of the duties on foreign articles bt ported into this country. (" Hear, hear," from the ewe& don.) There is no single year of those ten years in which thin has not been a reduction—and a considerable redue tion—of the means of raising revenue by duties on articles of foreign import. You have in those ten years reduced or repealed the duties upon coffee, upon timber, upon cur rants, upon wool, upon sugar, molasees, and cotton wool, upon butter and cheese, upon silk manufactures, upon tallow and spirits, upon copper ore, upon oil and sperm, and on an massing number of articles which produced but a small seassust to your revenue, but which it would be shame papeeterous to trouble the house with in detail. It is wellisivit be am to observe this remarkable feature, thee the reimetien of your customs duties from the year 1842 km been gamine, has been continuous ; that in 1842 yea struck of nearly a million and a half of revenue collected born the customs duties; and in 1843 you struck elf 128,0001. ; in 1844, 279,0001. ; in 1845 upwards of a wid• lion and • half; in 1848 upwards of 1,160,0001. ; 1847, 343,000/. ; in 1848 upwards of 578,0001. ; in 1849 up• wards of 381,0001; in 1850 upwards of 331,0001.; and at 1851 upwards of 801,0001.—(loud cheers from the eppesb soon)—making an aggregate, in ten years, of ass* 11,000,000/. sterling. (Loud cheers from the opposition.) Well, then, I think the house will agree with me theit. Weft a deficiency to supply, and looking to the 9011111111 Item whence it is most probable that I must obtain the ea akineme which is necessary alter the catalogue dish I lam toad, it would be somewhat presumptuous en my pin siptime that I could induce the present House of Caw mere le supply the deficiency by import duties. (Hest.) Well, then, have I • more encouraging prospect V I seek to supply the deficiency by • recourse to duties at articles of domestic manufacture? Sir, in the greet ems. troversies upon commercial legislation which hews nieured eflate years, and especially which have prevailed dusks the last six years, two epinkes have been advocated is this house, and have bees very warmly supported in the country, as to the p:incipal moms by which you mest ttf Love the industry of this orailky: ono important psi, is this house and in the esereary lays advocated, and cams fully, the repeal of the mime duties ; and the dist d their opinions—of the perealease etas& °pietism—et lie triemph, I may my, of Irk epiims is this lisess his hem exemplified in the tale ebb\ I has mewed the the leformation of the hewn this mein. Well, bat these hes been in this house • party, If net triumphant, way far pubs& ia their numbers, and fres their seal and the eler *Minn Obi pbenverance with whisk thy lave main taismi tlideirokierl, who have asserted that the beet method of Winks ear native industry hos boon by the reads. des m repeal of what are ediell anise duties. X* ems advocated that *Odes aim moistly, with a pester amplitude of statilital lumina Om rag lam led espies td Meal Led George liesemlii (ism him) These ere *item wilt* lave hem elimplihmed ,aim 1p authority—bye writer of the highs* ansidesslbin I gni they are epielins which I myself erferibor vibe eaddsi the gravest attention and wereidiedien. But, if there he ; one aide of Abloom who are eferdska that you must not supply a deficient revenue by custents duties, and another side of at house who are equity Vs:opinion that excise du ties are more injurious to industry than • duty on the im port of foreign articles, what Is the prospect of the success of • Chancellor of the Exchequer if his memo( supplying a delitiney are limited to those two important source, of psi& wnleh ? But this is not all. It is not merely that • poudig piety in this house is opposed to excise duties, Mama Asp think their inftuence is peculiarly pernicious Sift mmenhe of our national industry—even bon. genii'- s's agresite—even those who consider a customs duty fie WON el final grievances—even those hon. gentlemen eilluftd Emig the last ten years scarcely lees repug nant,* sibs ear seresas by a duty ou articles of do msulliMeMOfteeftelles lilt as sow place before the house • eMelreedte Maillelielftlal invasions during the same period oldie Yee leereas, Ikea 1842, upon that greet source of oar mean% ale aMbe. While you have reduced the eal ealatai ~See idieuggems frog the customs to the amount et 9 lima lhal Sine, which I have shown you that you have ewessuilal Yt mtmeMphshing, the Home of Com mons has dunes** aro period repealed the excise on vinegar, sad sastioaa, the odes on elms, and, finally, the slam ins brick,: by whisk se ins a ana• then $ revenue assoeatiog to assrly ass =Moe and • half has Amid. taseconly, sad at the same tins that you have mob this filet nteceseful welt upon your custom revenue, been taken hon your excise ditties. But is that all, sir ? Can I Sweet, sir, what marred in this hexes only this day week, when a right Ina gestimonn. once a amber of the late sdniniatration, connected in that sipeeity with the department which peculiarly watches over the Portend of our trade and aavigatitsa—the member fur the city of Mencbester—an estive number she of that confederation whieb has exercised of late years et consider able en influence upon the thaws of this country—when that right hoe. gentleman and down and proposed the repeal of those duties which virtually would further have reduced the public income to the amount of 1,400,0001. Well, then, sir, under these circumstanced, I think the house will agree with me that not only with regard to the customs duties, but also with respect to the excise duties, the minister who would propose to supply the deficiency by THE EXPRESS, SATURDAY EVENING, MAY 1, 1852. eountxy have been obliged totop OM their Mess to the 4,338,0001., there has been received 3,691,000/. only. And, Meese of Commis to ensure its peeeisieeel existence, sad lam sorry to say, that that 3,691,0001. cannot be counted as I have reminded the house, it has sow for two years been on subsequent to the half year in which we have had the submitted to the severest ordeal a publication's br money advantage of receiving it from the right hon. gentleman, raising ma undergo, the searching scrutiny of a easamittee because the portion of the window duty received be him will of the House of Commas, the members of which being cease. We now come to the property tax. The property tax themselves the victims, are alive to all the grievance, they was estimated at 5,380,0001. ' • and the right hon. gentleman's enquire into. (Hear, hear.) But if I proceed a step fur- estimate was realised only tothe amount of 6,283,000/.; being thee, and consider, and try to induce the hones to a diminution of nearly 100,000!. The right hon. gentleman consider, whe th er direct C taxation is that simple , that facile, estimated the Peet-office at 830,0001. in February last. and sati sfactory method by which revenue can be raised in But here there is a circumstance to be referred to. Such a country like England ; can I shut my era to a remark- was the extraordinary effect hero of the Great Exhibition able circumstance with regard to the direction of the Wei- —(ironical cheers and laughter, which interrupted the sen dence of taxation which occurred in the last session of this fence.) lion . gentlemen may laugh at my details ; but parliament ? What was the principal feature of your last 1 can enure them these matters must ho considered financial year ? The abolition of one of the moat consider- —(cheering}—and when the hon. gentleman opposite (Mr. able sources of direct taxation. (Hear, boar.) The mi- Hume, we understood) becomes a Chancellor of the Ma nistee, by one fell swoop, by repeal of the window duty, , cheeuer, which he may become, he will know and apple. was depiived of nearly two millions steil;ng raised by direct elate what an inuCCTS B advantage it is to have something taxation. (" No, no.") I think I shall be able to show Ito give an extraordinary Impulse to consumption to—l am willing to believe—friendly critics, that lam fully and communication. (Cheers, and laughter.) Because authorised in my estimate. It was said, to be sure, on that of the effect of the Great Exhibition in this dine. occasion, that the principle of direct taxation was not in 'ion, I was about to say, the estimated 830,0001. for the question, and direct taxation, to the amount of nearly two Post-office reached 1046,000 L Besides the effect of the millions, Wlll at once taken oft; not on fiscal but on sanitary Exhibition upon that branch of the revenue, there was also considerations. (A laugh.) Every one knows now upon this branch the effect of the census. (Hear, hear.) that all the sanitary objects winch we wished to The arrangements for the census largely affected the Pott ies accomplished, could have been accomplished office ; and our Pest-office bill for the census, if I can trust *Mk we retained the tax. (" No, no.") my recollection, was nearly 32,000/. Now, that item, of I think there would be no difficulty in showing that fact, course, cannot figure in any future estimate or return until Hat no might have preserved the taxes windows, and yet the next censer is taken. The right hon. gentleman call ow, o b ta i ne d th e san i tar y ma l ts we w i s h e d t o ac c om pli s h. mated the Woods at 160,0001., and the Woods gave but It was a most plansibbs ta t l ea moig edier angable pretext, but 1 5 0, 0001 . The right hon. gentleman's estimate for the the osionoiree Wet Hat etl the Exchequer miscellaneous was 262,000/. ; and the receipts smiler that het two moillismse which he hod %Ohre derived from direct head were 287,0001. Thu old stores were estimated at taxation. (Dissent.) I notice the murmuring negative of 450,0001. ; but they realised 39.5,0001. only. I have given hon. members opposite ' • I waited for it with great interest already the total estimate of th e income of the right hon. es a fresh instance of the important result I wish to impress gentleman ; and I have to state that it untimately turned ea the house. Hon. members may say that the Chancellor out 52,468,3171. (Chem.) The estimated expenditure of of the Exchequer dill not loss the two millions, because he the right hon. gentleman for the year which has just ended substituted the house tax ; but if I were to fix on any mea. wry 60,247,0001.; and the actual expenditure has been SUM that would more alarm me than another—if lam to 50,291,0001. It is unnecessary fur me to Ito into the items believe that direct taxation is to be a source to which a of the right hon. gentleman. I have stated, I hope. meth , minister of finance is to look for revenue—it would be that cient to place tl:c last year of his official career fairly before very substitute the recollection of which made an the house—(loud cheers from the opposition ) — an d, sir, I hon. member muralist his negative to my previous had, on his behalf, the satisfaction of placing a balance statement. The revenue of the country could not bear sheet on the table at the end of the year wherein that rude assault—that entire loss of two millions sterling &wetted, of course, in pccordanee with the figures 1 have caused by the repeal of the window tax, and it was !Kees. already given the house, a surplus of 2,176,9881. (Con , sary therefore to mid some substitute by which the revenue tinuous cheers front the opposition.) I have now to go might be sustained. What did you do? You could not go through the estimate of another expenditure and another to the customs duties in the teeth of that cidulogue of ex- income, in which I can unaffectedly say I sun still more in plena I have indicated. You could nut have recourse again termed than in those figures which I have previously to the excise duty, when you yourselves were continually brought under the consideration of the house. For the bringing forward motions for the repeal or reduction of the estimated expenditure of this year, indeed, bee Majesty's excise duties. lass were obliged to have recourse to direct government arc scarcely responsible. (hear, hear.) They taxation, even while you reduced one source of direct taxa- have, of course, a portion of' responsibility which they do tion to so enormous an amount. What did you do ? You not wish to escape from. But it is known to the house that raised direct taxes he a form thanwhich I have always consi• these estimates were prepared by our predecessors ; dereel itwuimpostibleferdirect taxationto take a morejuat and indeed our responsibility on that head has or less oppressive-1 mean a house duty. (Hear, hear.) been shared by the house in passing the great What was the next step? That invaluable weapon in your portion of the late government's propositions. I financial armoury was taken down carelessly, and used for must, of course, recall the fact, to the recollection of the an inglorious result. You raised a very small revenue by house. The estimate for the expenditure of this year, the direct taxation. Out of three millions and a half of houses, year ending 1853, is 51,163,9791., and it is thus formed following the vicious principle of aleyour direct taxation, fhe funded debt is 27,548,0001. It was lastyear 27,576,980/4 you only touched about 400,000—(ministerial cheers)—thus and there has been that reduction by the action of the Sink practically announcing to the people of this country that ing Fund. The interest on Exchequer bins is 402,0001. direct taxation wax intolerable, unless based on a large Last year it was 401,4451. The total debt therefere is system of exemption. (hear.) I think I have now shown 27,950,0001. It was last year 27,978,52.11. The other to the committee some reason, by recalling certain facts to charges on the Consolidated Fund are this year 2,600,0001. their remembrance, for thus paus ing and calmly surveying They were last year 2,614,4611. The total charge on the their past career. I think I have induced the committee Consolidated Fund therefore is 30,550,0001. Last year it to be at least of this opinion, that the objectionable modes was 30,592,911 e The army, including the commissariat, is of raising revenue in this country are not confined to mu. 6 , 491 , 8931 . The navy is 6,493,0001. But this includes toms duties, as their early cheep wouldi seem to intimate, 870,1581. for the packet service ; and therefore the expendi. nor to excess, as my friends near me are of opinion, but ture for the navy is really only 5,622,8421. With the that if you attempt in this country direct taxation, on any packet service included the estimate is 6,493,0001. The principle calculated to produce a permanent effect, you are ordnance is 2,493,0001. The miscellaneous, or, as, they are stopped by the prejudices of this house and of the people, now called, the civil service, are 4,182,0861. I must make or by their intolerable sense of the incidence of that form a remark on these figures, because the estimate was in of taxation. The moral 1 would draw from this, and which some degree prepared by the present government. These I should wish most earnestly to impress upon the house is are the two results: The miscellaneous estimates the; year that the subject should be moat carefully considered, Ise. are 4,182,086!. Last year they were 4,114,2651. This in cause they may rest assured that the time is not far distant crease in the miscellaneous estimates has been occasioned when they must arrive at a definite conclusion as to the by two circumstances. The first circumstance is the principles upon which our finances are to be managed. A transference front the Woods and Forest of charges Chancellor of the Exchequer who has to make • financial to the amount, I think, if I recollect rightly, of something statement, and is supposed to be in possession of that happy like 65,0001. a year; and, therefore, there is to be calcu. or embarrassing incident,—a Surplus, is looked upon by lilted a proportionate, or an approach to a proportionate, both sides of the house as en individual merely put :here increase in the Woods and Forests in the year. The second for prey or plunder. (Laughter.) In the general scramble circumstance to which I have alluded is the great increase every one wishes to obtain his own purpose, and no one in connexion with the convict service. The next item looks to tbe future. (Hear hear.) No one looks to the which I have to mention, among the estimates, is a very inevitable danger that must be irnpeuding over the finances sorrowful one. It is the item fur the Kaffir war. (Hear, of a country where all demand relief, while at the same hear.) The house nil. recollect that I moved a vote, very time they lay down a principle which prevents you raising early after after we acceded to office, of 460,0001., to carry taxes in any form whatever, whether by excise or customs, on the Kaffir war. When that vote was moved, I confess on articles of home manufacture, or foreign import, or I was not without hope that it was the last vote of the even by direct taxation. At this moment we have come kind which would have to be taken into consideration by as a consequence, the acts of the last ten years have the committee. But the information which subsequently brought us, to this result that the House of Common die- arrived, and of which hon. members are in possession, approves of all three methods. (Hear, hear.) Sir, having was pervaded by a character very different from that which made these observations, which I fear I shall have pain- we had indulged a belief it would assume. It is impossible, fully to apply in the course of my subsequent remarks, I therefore, with a due sense of what I think becomes a per will now call the attention of the committee to the income son responsible for the finances of the country, that I can and expenditure of the year that has just terminated. It allow that first vote alone to be pressed for on the commit. was in February, 1851, that the income for the year ending tee. Unquestionably it would be very easy—especially after last April was estimated by the right han. baronet the having obtained a vote, and the scene of war being where member for Halifax. Ile estimated on that occasion that there is not that power f ascertaining the state of affairs we should hate for the year that has just terminated an so correctly as is possessed in regard to European conflicts, income of 62,140,0001. The actual income which has or to war near at hand—for me to leave something to chance, accrued has been 52,468,3171. (Loud cheers.) The right and to permit those who have the conduct of the war, if bon. gentleman, whose actual income so far exceeded they wanted further supply, to draw on the general min. his estimate, is well intitled to that cheer. But I tory chest. But I hope the committee will agree with me am bound to say that the estimates I have made do nut in holding the opinion that that would be a very erroneous sufficient justice to the merits of the right hon. gentleman, and very exceptional principle to act upon—(cheers)—and because it is not merely the fact that the actual income has that it would be much better to form some, I will not say exceeded the estimate by more than 310,000!., but 1 may extravagant, but some temperate estimate of what is abso sad that in the interval vast remissions of taxation took lately necessary, and to meet the wants of the service by a place, and notwithstanding these vast remissions, the in- specific vote. (Cheep) Well, then, I have acted on these come of the year just ended exceeded the estimate for 1831. considerations. I know that there is a very great prejudice (Hear, hear.) lu that year the right hon. gentleman re- with regard to the conduct of wars in distant dependencies, pealed the window tax, by which a loss of 640,0001. on the where what occurs is not the subject of criticism and infer. year was experienced by him, after allowiog, of course, for milieu, as in countries nearer at been. But lam bound to the substitute of the house tax, and within that period the say this—that the commissariat of our army at the Cape is right hon. gentleman reduced the duty upon coffee and under the immediate control of the Treasury, that the timber, having also to encounter one of the moat Treasury is responsible for the officers it has sent out to considerable reductions that has occurred on the sugar conduct operations there; that all the despatches, and even ditties. Yet notwithstanding that great remission of direct the private journals of these officers saw forwarded to the taxation, notwithstanding that reduction on three of the Treasury ; that it has been my duty to be acquainted with most important articles of import, the income of their communications, and I can say most pointedly that I I the right hon. gentleman exceeded his estimate, which was have fulfilled that duty by reading every line that has made without reference to theee reductions, by . a sum of arrived, including the private journals of the officers em more than 310,0001. (Cheers.) On that occasion the right played, and lam most deceived if these are not men who hon. gentleman estimated the Customs at 20,400,0e01., and are animated by an eager and anxious desire to do their be then anticipated, from the reduction oe the duty on duty by this country. (Hear, hear.) I believe that they sugar, on coffee, and on timber, a loss of 600,0001., which, have accomplished considerable reductions in the conduct of however, trusting to increased powers of consumption in these operations; nor do I think that lam using the lan the community, he placed in his budget as only 400,0001. guago of exaggeration when I say that the commis- Therefore the Customs were really estimated by the right eared was never carried on with more efficiency or with hon. gentlemen at only_2o millions, while we have obtained greater regard to genuine economy. (Hear, hear.) Raking, from them 20,673,0001. (Loud cheers.) Sir, 1 think then, all these circumstances into co nsideration—and I it due to the right honourable gentleman, and could prove the strict correctness of my last observation by with all courtesy to him, I think it of still more referring to the surplus left this year from the vote of importance to him, and it is interesting to the HOMO of last year, a vote of 300,0001. taken by the right hon. gentle- Commons and the country, that we should, with the lights man opposite--and calculating, as I do, the assistance of which our experience furnishes, trace the action on the cue. that surplus which by the good management of these gentle toms revenue of the remissions of the right hon. gentleman. men we have got from the 3000001.—L do not think that that (Hear, hear.) The duty on coffee was reduced last y e ar vote, which I myself have taken, of 460,0001., can be safely. from 6d. on foreign and 4d. on colonial, to uniform duty relied upon for carrying us on further than the end of 3d. per pound, as the committee well remember, of May or the beginning of June. (Hear, hear.) Under and these arc the effects which that reduction has bad upon these circumstances I kayo made up my mind, with consumption. I shall first take the foreign coffee. For the sanction of my colleagues, and on behalf of the the year ending 1851 there was an increase in the eon government, to propose an additional vote of 200,000/. sumption of foreign coffee of 2,076,37511 u. In the year ending (Cries of " Oh, oh," and cheers.) If, therefore, the com- April, 1852, the increase in the consumption of foreign mince should sanction that additional vote, the Kaffir war coffee rose to 5,524,0001 th, being an increase on 1841 of must figure in the estimate at 660,0001. There is yet an• 3,448,00011 n. (Loud cheers.) Nor was this increase obtained other item, for which we are responsible in the estimated at the expense of the growers of colonial coffee. (Hear, expenditure of this year, and that is for the militia. (Loud hear.) In 1851, we imported 28,216,0001b1. of colonial cries of " Oh, oh.") lion. gentlemen need not be alarmed coffee, and in 1852, after the reduction of the duty, and —it really is not much more than the majority which air during the great increase in the consumption of foreign ' proved of our bill. (Great cheers and laughter.) M coffee, instead of 28,216,00011 n., we imported 29,140,0001 th. estimate is exactly 350,0001. (Cheers and renewed laughter; of colonial coffee. (Loud cheers.) In 1850, we imported The total estimated expenditure for the year ending Apr il 32,611,0101b5. of foreign and colonial coffee, and in 1852 it 1853, will therefore, be 51,163,9791. Now, sir, I come to had risen to 34,650,0001 be The right hon. gentleman cal. consider the sources of supply. (Cries of " Rear, hear.) culated that the loss of eduty would be 1 7 6 , 000 e, and the The house will by this time, I trust, perceive that ;he few amount really was 112,0001. (Cheers.) The committee observations I have . presumed, at the outset, to make upon also recollects that the right hon. gentleman reduced the general financial position of the country, and upon the the duty on foreign timber from 15s. to 7s. f-l. a load temper of the committee on the subject have nut been in. on hewn or sawn timber, for which he estimated appropriate. The question before us is how no are to meet a loss of 176,0001. ; whereas the actual lose was 126,0001. this expenditure; and I now coma to estimate the income. (Hear, hear.) The house will, I hope, tolerate these do- (Hear, hew.) The customs realised last year, as will be tails, as I think they should understand our present pod. fresh in the recollection of the committee, was 20,673,954/. which may lead to the most important conclusions, I But that Wall a remarkable year; and the circumstances particularly to show what have been the effects of the which acted, as I have detailed, on the revenue derivable redaction on foreign timber. In 1851 we imported of from the Poet-office, so much to the astonishment of geu foreign timber 275,000 loads, in 18.52, 440,000; and if you tlemen opposite, operated very much alas on our tome to colonial timber, you will find in 1851, 619,000 customs revenue. There was a very great impulse loads; in 1862, 671,000 loads. (Hear, hese) In 1851 we given to consumption, no doubt , by the very great gather imported 3 . 52,000 loads of foreign sawn timber; and in mg of last year—not merely by the visits to this country 18i2, 514,000 loads. In 1851 of colonial sawn timber of foreigners, though this had some effect, but by the we imported 444,000 loads ; said in 1862, notwithstanding very great increase of travelling that took place, and by the increase in the import of foreign timber, we increased in the general spirit of enterprise that pervaded the whole colonial to 626,000 loads. Thus of hewn and sawn timber island. (Cheers.) Now, site calculating these exceptional we imported in 1861 only 628,000 loads, and in 1852 the ' circumstances, I do not feel justified in counting upon any impoitation had risen to 951,000 loads. I think I ought very considerable increase of customs revenue. Indeed, also to mention the great increase that took place in the quite the reverse. I have losses to encounter, which the import of colonial timber. In 1851 it was 1,071,000 loads, committee must not forget. 1 have to encounter this year a in 1852 1,200,000 loads. (hear, bear) But great as were further reduction of the sugar duties—(hear, hear) ; and these results of the reduction on coffee and timber, much though the calculated amount of that reduction would be as their consumption was increases), the ineren.c in the not so considerable as was experienced by the right hon. consumption of sugar is so much more remarkable that I gentlemen, still lam not sanguine that the result would be think it my duty to call the attention of the house to the so completely and triumphantly successful this yeur as it was Agent. (Loud opposition cheers.) We imported in 18.51 last year. I think wo meet calculate upon some of British colonial and foreign sugar 7,200,000 cwt., and in sou from the reduction of tlaesugar duties ; end the esti 1g52 7,613,000, being an inercose of 413,000 cwts. ( Loud op- mated loss will be 144,000/. But that may be extreme ; for position cheers.) In short, since the alteration in the duties, after the marvellous cults—(cheers from the opposition)— our annual increase has been no less than 1,900,000 cwt. I have communicated to the house this evening one is nate (Protracted cheering.) With regard to British unrefined telly sanguine. (Cheers.) Still, however, last year, as sugar, our imports in 18.51 were 5,093,000 cwt., and in 1862 regards consumption, was it n exceptional year; and we 6,207,000 cwt., being an increase of 114,000 cwt. During should be blind to the truth if we treated that as an averse the last six years the consumption of sugar in this country year. lam calculating, therefore, that there wilThe'some has increased 9.1,000 tuns, being really an increase of 33 per loss to the revenue (ruin Pug sr; and under these cif- OW. on tbe consumption of the year of 1316. (Tremendous cumstances, taking into consideration that there was an in cheering from the opposition.) And now, sir, as regards crease last year from extraordinary consumption, and the revenge, which is the main subji et I have taking into consideration, also, the further and inevitable le _lisle before you. The revenue on sugar in reduction of the sugar duties, I have thought it 186 a was 4,163,5341., being, although we calculated on mest prudent, after examining all the items, and • loos of upward. of 330,0001. or 310,000/ e a real low% of only having given to the subject the utmost deliberation I 3001. upon the year. (Loud cheers.) I must now proceed could, to take the customs at the same amount as that with the estimated ince ne in detail for 1841 and 1852, as which they reached the year before the Exhibition, vie., in estimated by the right hon. gentleman. I have shown you 1840-51. (Hear, hear.) Therefore, I take the:customs at thee, instead of the 20 millions wo anticipated, we received 20,572,0001., which is rather more than 100,000 e less than 20.673,000/., and that in the excise, which was estimated at was received in the course of the year which is just con -14,000,0001., we received at the end of the year 14,e13,000/. eluded. I now, sir, come to the excise. In the excise it The right hon. gentleman estimated the stamps at will be necessary to alculate some reductions also, front the 6,310,0001., and he received for stamps—at teasels° received stage carrioge and railway duties, the incrciuto lest year fee him—(laughter)-6,316,0001., being a slight increase, having arisen from the same causes which I have adverted He- estimated, for taxes, 4,338,000/. But, in consequence to in connexion with the customs—causes which the hon. of the reduction of the window duty, and the only partial gentleman opposite (Mr. Hume, we uoderstood)—who ha. substitution of the house tax, instead of that estimated not given so much attention to this subject as he may next NAPIER said he hell trot far v& Wig opi- f ImpeonisellEeloiguathar of mount would] a the subject yet. Whig thy bad ltd Ele Win entlehtvries ettremely dil:ult. Bat, h evidesce, cad the vieweetEm aameMai !Wel ' loins on the eehieetteelee - eepeeted Mthe h em .. he the dlficalties at an individual fa my i l endeavour to jggrodaggir,kmonauage samag)g gai. liadild by than two brandies of revenue a the end* ofje4lee.' t. 7 . jest Meshed. We ham a greet deal in s •and often from hon. gentlemen opposite, MB BUDGET. mode of raising revenue by whet they cal 1 house haviog metrimd itmedfistemmemmittee of ways (" Hear, boar," from Mr. Hume.) WADS. that cheer as evidence of the attem .__- - • • year—(laughter)--considered of so alight an import. But undoubtedly the effect of the Great Exhibition oa stags carriage and railway duties has been very consider. able. With regard to the excise, I must further make allowance for the reduced product of the hop duty; as the duty which will be received in 1853 will be considerab ly below the duty received in the preceding year. On th e other band, there will be a considerable increase in th e malt duty, which become, payable on the 10th Oct o b er next, and which, it is now ass rtairied, has increased bey on d the corresponding amount of last year. This, then, is the state of the figures:—The excise revenue fur 1852, jut ended, was 14,543,000!. On stage carriage and railway duties I allow for a probable reduction of 50,0001. On the hop duty I allow for an inevitable reduction of 189,0001. I must, therefore, allow from the revenue derived from the excise by the right hell. gentleman of 14,513,0001., U deduction of 239,0001. This would reduce the revenue to 14,304,0001.; and adding, again, the increase from the malt duty, of 300,0001 1 I arrive at • revenue of 14,604,0001. ; and that, finally Is my estimated amount of revenue from our excise. I take the stamps for this year at 6,339,000/. That is about the same sum us last year. 1 had intended to take them at exactly the same sum ; but there are some items to be added of the ac ruing produce of the right hon. gen tleman's receipts, which have disturbed my calculation within the lust few hours. The produce of the stamp duties on the sth April, 1852, was 6,390,0001. ; and as the effect of the alteration of the new duties since Oct., 1850, may be considered to he fully developed, there is no mama to suppose that we may not take the amount of the stamp duties at a less sum. 1 put it at 6,339,0001. The taxes, which, on the last year, were 3,691,7911., 1 ion obliged to take at 3,090,000/. That con.iderable diminution is ices sioned by the right hon. gentleman in his last half-year having been able to add half a year of the window duty. The revenue from this source, ending in the year of the right hon. gentlemen, is thus : Ile received 3,695,000/. We may add to that some arrears for inhabited house duty, which would make the whole of his revenue from taxes 3,730,0001. But that RUM includes the window duties for the half-year, which amounted to 919,0001. Then that also is to he diminished by half of tile substituted house duty, 300,0001. ; and, in the cod, therefore, 1 must diminish the revenue realised from the tax by the right hon. gentleman, by the sum of 610,0001. Therefore, I say, I place the taxer at 3,690,000/. I come to the property tax. The property tax of this year is, of coulee, one-lea the amount of the property tax last year; because the house is aware the property tax does not virtually cense until October; and, therefore, whatever decision the house may come to upon this subject, one half ut the property tax will naturally and must nucetsarily figure in tile revenue of this year. I, therefore, put the property tux at 2.641,./001. The l'oat-oftiCe I take at 938,01.101. am obliged, here, to allow for the effect of the Exhibition on the revenue last year, and for theexpeaditure of the census, and 1 have also to calculate on the settling of contested Accounts with railways in regard to postage: and, on the whole I run justi fi ed in putting the revenue at 938,000/. The Woods I Mho at 235,0001. The Woods, which I now take at 235,000/., last year produced only 190,0001., the increase, as I have previously explained, aris ing in the transference to the miscellaneous of certain charges which hitherto have been incurred by the Woods. The misceilancuus I take at 260,0001. ho old stores at 400,0001. Now, all this makes an income of 48,983,4001, with u deficiency of 2,180,4791. You have, therefore, with out the property and income-tax, already a deficiency of 2,1803791. ; that would be your deficiency for this year. lint of course the house is aware that in the year 1854 that deficiency would be about 4,100,0001., all things remaining the same. Now, to complete the picture •hich I have placed before the house, endeavouring to present it in • fair and unvarnished mauner—(loud cheers from the opposition) 1 think it would be ex pedient, previous to the house coming to any decision, and before I detail to the house with great respect the course which her Majesty's government believe it to be their duty to recommenl, that 1 should place before the committee the finances of the country, both as to the last and as to the present year, in a parallel position—assuming that the property and income tax had not been continued for one, but two years. (Cheers.) And with that object I will offer to the committee an estimate of what I believe the property and income tax will produce for another year. Now, air, I know that upon this subject con siderable controversy has occurred. The right hon. gen tleman experienced a hos of upwards of 100,0001, in his rec. jets of property tax below his estimate. Sir, I have inquired into, I may say I have investigated this matter with the deepest attention I could command; and I ion bound to say, and I will give my reasons to the house for saying it, that there really, after all, has been no diminution an the proceeds of the property and income tax. What I say is, that there hos been no diminution in the total asscrameuts to the prop, rty tax for the present year, when compared with the two preceding yearn, notwith standing that the right Lon. gentleman received more than 101.000/. less than in the preceding year. I will siphon to the committee how that is. In the first place, from the great delay in continuing the property and income tax, which was nut agreed to till the sth of June, there were great delays in making the assessments and great arrears occurred ; and at the time, unfortunately, the office on which the whole duty of makiii, the assess ments devolved was so occupied with the urrangements of the census that there was necessarily, from the want of hands, considerable arrears and considerable delay in making the assessments. The committee, however, will sec from a return I am about to place before it that there has been no diminution in the total assessments to the pro- petty tax in the present year, as compared with the two preceding years. I take the years 1850, 1831, and 1852. The total duty assessed in 1850 was 5,727,0001. In the rear 1851 the total duty assessed was 5,739,0001. In 18.52,which has just expired, the total duty assessed is 5,758,0001. So that there is no diminution, but rather an increase in the assessment. There has been, no doubt, a reduction as paid into the Exchequer. For example, the payment into the Exchequer in 1850 was 6,466.0001. ; is 18 1, 5,403,0001. ; and in 1852, 5,203,0001. • and, hence, the country had a right to conclude that there had been a serious falling off in the proceeds of the property and income tax. But, iu fact, the amount assessed has not beta di minished but increased ; and great portions of those arrears have been obtained. (Cheers.) Well, now, sir, I come to the reuse of the great diminution which has occurred in Schedule D. ((fear, hear.) In 1849 a get at diminution occurred in Schedule D—that is, in trades and professions. From 1,754,0001. the schedule fell to 1,584,000/. That was in 1849. In 1850 it again dropped to 1,570,000/. In 1851 it rallied to 1,593,0001. Now, or, there can be no doubt, as far as I can Om an opir.iort, and I am sure I have no prejudices upon the subject, that the emote of the diminution in Schedule la is really and naturally to be ascribed to the events of the unhappy com mercial year of 1847. (Hear, hear.) I need hardly re. mind the committee that the auesaments to Schedule D arc not made on the profits of one year, but au average ' of three years— (hear, hear) —and therefore a year like 1817, will effect the return for several rare 1 and not only for the first average, but for a certain time afterwards. (Hear, hear.) But look at the produce of Schedule 1) in the year which is just coot pleted. Instead of being 1,484,0001., as it was in 1849, it has rallied to I,6o4,oool.—(cheers) ; and I am informed, of course by those must competent to collect an accurate opi nion i n such a subject, that we may look with perfect con , fidence on Schedule 1) entirely rallying. (Cheers.) 1 say "entirely rallying," because there is no doubt that although I appear before you with a deficiency, the stete of this country is one, especially so far as that schedule is concerned, of great and sound prosperity. (Loud and 'prolonged cheering front the free traders.) But, sir, as it is my business before this committee to state that which I believe to be rigidly the truth upon ell subjects—(loud cheers from the free traders)—upon all subjects connected with the finance of the country—so I think that hoe. gentlemen will believe me when 1 tell them, and I tell them with great regret, that there are parties, that there are classes in this country who are not prospering, and whose adversity is commencing to tell upon your property and income tax. This is the first year—and I fulfil the duty with souse roe grit—ln which a Chancellor of the Exchequer is estimating the amount to be derived from the Propertyand Income-tax, has been informed—by the highest authorities —that he must make allowance for reduced rentals. (A few cries of Hear, hear," from the ministerial benches—the majority on those benches remaining quite silent.) Nay. I have to do more than that-1 em informed that its more than probable that the permission, the privilege. that was conceded to the British farmer, to avail hienselt of under Schedule D, will be acted on to a very large ex tent. (Hear, hear.) The committee will admit• the di& ficulty of finding data to form an estimate of thene two circumstances ; but it is my duty to Mate to the committee the representation which has been made to me by those who arc most conversant with the subject, and who have fairly brought the facts before me, and I can assure the committee, for from having a prejudice on the sultiver and although I believe there is not anything which could u duce me to colour any case like this—still 1 could slated have hoped that it would have fallen to any one but on , :C0 make this statement, because I know there are some P WWI will iatagine lam giving to the matter a colour which is not just died by the reality. But lam acting on informa tion which it is impossible for me to diem-wird ; and 1 on ✓ecommended to take a not less estimate than LithOtki. as the probable loss that will accrue from the reduction el rentals and from the decremte of the produce under Sehe. dule 1), in consequence of the cultivators of the soil arailieg themselves of the permission which we gave them last year. Now, sir, under these circumstances, in ciao I hod to older the committee an estimate of the probable produce of the property and income tax fur the year after the lilth of October next, 1 would estimate the rev. nue from this source to the year ending the sth of April, 1433, al 5,283,0001. We have still to add to that, not col lected, on account of the backwardness of Nest awes, the sum of 54,000/. 1 %hall, therefore, take the amouut at 6,337 ,0001 'That would be my estimate of the produce a the property and income tax for the year ending Aril , 1853. I must, however, take front that amount the guru of 150,000/. for the reasens I have alleged ; nod there would then remain as the amount of produce of the tax upon property and income for the year ending tli.• 4th April, 111 et, 5,187,0001. (Cheers.) Now if I add that item, the whole of the income and property Olt to the other estimated income, the whole estimated ,noime for 1852.3 would be 51,62.5,0001. (Cheers.) And us the estimated expenditure is 51,163,971 1 / . would be a surplus of income over e xpenditure of -161.021/. (Loud cheers trim the opposition.) Now, sir, I hope the house has obtained front me an unvu nisheil—l trust clear—amount of our financial polki (Laud ninisterial cheers.) I may truly any, if I have sot cuceo,du'l in conveying one to them, it is entirely attri butable to the want of ability and experience, and not fro any desire to conceal aught horn the committee. (1, 7 hear.) It appears to the government, unit. r these cit stances, that there is but one course for Oa ;a to re nttri: of g (lIMr, the rtcum- me , cac _ Lakin creasi wo inf thu (H me