The Sun. — London, England, 1824-05-11 00:00:00

4/:: ::son) understood it. They did not propose to trade at all ; they never intended to become either the buyers or sellers of sugar, but to be in precisely the same situation as what were now called West India houses of agency ; that is to say, they were to receive the consignments of the produce of West India estates, as West India agents did, and in that capacity sthey were to sell them ; but they were not in any case to go into the market as dealers, or to employ their capital for the purpose of dealing in West India commodities. Any num ber of persons who might choose to unite as partners for the same purpose would be at liberty to do so ; there could be no means oflimiting the numbers of such partners, and they might, by establishing a West India agency, place themselves in pre -- cisely the same situation as this Company. The authorities of Adam Smith and the Abbe Maury had been arrayed against it, and all the4rguments cautiously urged against monopolies and joint stock companies had been applied to this. It was, how - ever, not only no monopoly, but when thecirctunstances in which , the West India interests were placed should be fully considered, he thought the House would be induced to permit the plan to be carried into effect, in the hope of relieving those interests. He (Mr. Huskisson) would not support any company whose ob _ ject it should be to raise the price of sugar by means of a mono poly. But was there, he asked, at this moment nothing in the condition of the West India proprietors that made it desirable for the House to encourage (if they could do so without the violation of any sound principle) any means which should appear likely to affiird thesis relief, by furnishing them with a loan of money ? The occasional unproductiveness of their 'estates, and the consequently insufficient security, had prevented the owners from borrowing money at the legal rate of interest. He appealed to the landed interests of England, and would ask them whether, if such circumstances prevailed here—if they were in a similar state pressed by their creditors, and without the means of raising money by the incumbrance sit' their-estates.-they would think it extraordinary, or impo litic, to adopt an expedient which should be devised for afford- ing them relief by a mortgage of their estates ? This was the whole; intent of the present Bill. The West India proprietors hail comelast year to the House with a statement of their dis tresses, which could not be more urgent than they were. It was proposed to relieve th em by means o f E xc h equer bill s ; -b ut the objection' to that was, that the Government could not lend 'money upon such security as was offered. But as it was a& nutted That the loan of money would be an immediate and im- ' peraant relief to the West India interests, and now that indivi duals were disposed to furnish that relief, he was at a loss to guess upon what good ground it should be objected to. The claim 1 of those interests to assistance became still more urgent, when it was remembered that their distress had ensued, rot in conse quence of any fault of their own, but of the proceaclings of that House and of Parliament. It had been said eliewtiere, that nothing could be more likely to produce the amelioration of the condition of the slaves than the distress of the West India pro ptietors. If he (Mr. Huskisson) entertained any such belief, he might perhaps be induced to pay some attention to this --reasoning ; but he besought the House to look well at the situ ation of the planters, and say whether, unable as they were to live.but by means of ? loans at exorbitant interests, the slaves were more likely to be taken care of than if a more prosperous s tats: of things could be restored to the colonies.—( Hear !)—One -of the consequences of the distress of the masters was maturally to aggravate the distress of the slaves ' • and any relief which should be afforded to the former would be relief to both, be cause it would at once enable and induce the masters to co-ope rate with the Government at home to alleviate the lot of that class of beings for the improvement of whose general and phy sical conditiOn no man was more anxious than he. Any oppo site measures might perhaps drive the planters to despair; but it was not likely they would therefore remove the distress of the slaves. With respect to the capital of the proposed Company, be believed there were hous es now i n E ng l an d w h o em pl oye d nearly as large an amount. Upon these grounds, and without pledging himself wholly to the support of the Bill, he thought that it ought now to be suffered to proceed to the second read ing. When he was applied to by the persons with whom the Bill originated, he told them he thought they ought not to ask any thing from the House beyond what any persons were fairly entitled 'to, - whose numbers were so large that it might be inconvenient to them to-sue and be sued in their own names. He distinctly stated, that he was not disposed to grant them any protection against theoperation of the Bankrupt Laws, nor any other of the exclusive privil eges o f a corporation. Having said thus much, he should- reserve his opinion on the merits of the Bill to its further stage. Dr. LUSH INGTON objected to the principle of the Bill, and reminded the House that if they consented to give this Com pany what they now asked, it would perhaps be easy for them to • obtain the sanction of the Crown,to become a corporation. The Right Hon. Gentleman (Mr. Huskisson) had not stated in the course of his observations what was too well known—that the Colonias had been a losing concern for some years back ; anti he ha.l no less carefully abstained from stating his own opinion, that this proposed advance of-capital would - be enough to keep the system alive. The legal rate of interest on West India property -woe now s'ic per rent. ; but he asked, was this the rate at which money was ever lent ? Were not, in reality, the advances of money by consignees, and the insurance of the stores, nearer in amount to ten per cent. ? It was said that West India property was insecure. Very true, it was so ? and why ? Because the , returns of the estates were insufficient, and therefore advances were never made but under the circumstances and upon the - terms lie had-stated. And how was it that the proposed Com - piny was to relieve this state of things ? It must be either by. raising the price of sugar, or by- becoming the holders of the-West India estates. If they should become the holders of those estates, they would in their character of mortgagees , be unable to exercise all .that privilege of manumitting the slaves which was exercised by the proprietors, and which was, in .avery point of view, of the deepest importance. There were other reasons arising out of -the Bill, upon which he felt obliged to oppose it. It empowered the Company to -lend money in any part of the globe; there was no limitation to the 'Vest Indies ncr to any other colony.—[Mr. Huskis son said across the table, as we understood, that any per .s wls might lend money on any security they thought proper.]._ The Right Hon. Gentleman -was quite correct, any person might do so ; bat this Company asked to do it under the au thority of Parliament, and in the form of a Corporation. Be sides, if so much good was to be expected from such a measure, why had it not already been tried? What had prevented those Slentlemen who proposed to fiirm the new Company from hay ingamade advances ? Ile objected particularly to that power in the Bill which, under certain circumstances, would enable the company to hold the estates on which they were to lend money, in mortua mane, until the Attorney-General should file an information, or a foreclosure of the mortgage should be decreed by a Court of Equity. The Hon. and Learned*Gen tleman coocluded by declaring his intention to vote against the further progress of the Bill. Mr. F. BUXTON, after the length to which-the discussion . had proceeded, would in a few words only protest against the measure as highly detrimental to the interests of the slaves. In the first place, by enhancing their value it would make the chance of their manumission more remote; and in the second, by placing them in the power—not of their owners, but, of per sons who would nut have the power, even if they had the incli nation, to give them their freedom, it would render their situa tion far more hopeless than it was at present. He should, therefore, feel it to be his duty to oppose the Bill at every pos sible•opportunity. Mr. W. HORTON objected to the question of the slaves being. mixed up with the principle of the bill before the House. —lie looked upon the measure as one which would place the West India planters in the same situation as a mortgagee in .this country, and it afforded them this additional advantage, that they might transfer their securities with facility and advan tage. He considered that this was not the time to go at any length into the details of the bill, which there would be many -other opportunities of discussing, and expressed his intention of voting for the second reading. . 'Mr. EVANS considered the bill to be so objectionable, that . fore take the sense of the House on the question of reading the . Order of the day. The gallery was then cleared for a division, but Mr. EvaNs d ec li ne d to press i t, en d the order of th e clay was therefore read. On the question that the bill be read a second time, Plr. MANNING said a. few words inaudible in the gallery. Mr. gYKES opposed- the Bill. He apprehended that the immense capital of the Company, and the influence which it . • would consequently procure them, would enable them to obtain a monopoly of the market tbr "West India produce(;f the ThebWornees_t Indian merchants already possessed a monop o l y market ; there wou ld, therefore, be a monopoly within a mo nopoly—an imperium in irnperzo. Another consequence of the passing of the incorporation- of the Company would be to Increase the quantity of sugar , w hich could not, he conceived, be.benelicial to any party. Under these circumstances, he f e l t it his dutyto move that the-Bill be read a second time this day six months.' • Alt-. HUSICISSON said a few words in explanation.. Mr. W. SMITH differed from the-Right Iron. Gentleman with respect to the construction of the clause. Mr. P. MOORE remarked, that in this case, as in all Joint ~Stock Companies, there would be a liability proportioned to 'and limited 14 the advance. Strangers were then ordered to withdraw, and the House di vided.Tlte,numbers were-- For the Bill - 102 • Agairist it . . . _ • Dlajority - .. . 31? - -72 The'Dill was then read a second time ancLcommitted. THE ASSESSED TAXES. • Lord HOTHAM rose to present a Petition, praying for the .Icpea. - 1 of the A &sessed Taxes. .114 r. CANNING said, that he was willing to throw open the doors ottliat House as wide as possible for the admission of petitions, but he really thought, that since the Hon. 'Mem.' shall cease and determine. That it is expedient, that from and ber had not thought fit to present the petition at an earlier after the sth day of January; 1825, the duties on servants, period, he should now refrain from p resen ti ng it un til a f u t ure carr i ages, coach/rakers' lic enets, h orse s, mules, together with evening. He bad no objection to the particular petition which a ll compos iti ons f or t he said d uties, shall cease and determine." the Member held in his hand; but he feared, that if one peti- Mr. LEYCESTER seconded the motion. tion referring to public matters Were presented that evening The CHANCELLOR - of the EXCHEQUER said, that the (after the time which had already been occupied in the dis- ,Hon. Member who had brought forward the motion had merely cussion of the West India' Comp a ny Bill), the whole of the agitated the same question which had come under the considera petitions of a similar nature which Hon. Members had to pre- tion of' the House about six weeks ago, upon a motion made by sent would follciw, an& that would retard the:commencement of the Hon. Member - for Westminster (Mr. Hobhouse.) Upon public business until an unusually late and inconvenient hour.— that occasion he had stated the reasons why he could not consent (Hear!) to the proposed repeal of the assessed taxes „and nothing had Lord HOTHAM said, he had be e n inStrueteetheohis consti. Sihceotedreeno invalidatethose reasons. The grounds upon tuents not to present the p e titi on un til th a t eve ni ng . H e w i s h e d w hi ch the Hon. Member for W es t m i ns t er res t e d his motion to know whether he was in order in presenting it ? were precisely similar to those which the Hon. Member for j .The SPEAKER said, that the Hon. Member was at liberty Abingdon had that night advanced hi support of his proposi to present the petition if he pleased- It was the first public tions. The Hon. Member foe' Westminster, however, had not petition which had been presented that evenin g 7, and-he had been able to persuade the H ouse t o agree to hi s propos i t i on , anti three papers, containing a list of 46 Membe rs , who ' wished, to he could see no reason why the efforts of the Hon. Meniber i present similarpetitions.—(A laugh.) for Abingdon should be. attended with a happier result.—. Lord HOTHAM then presented the petition, Which was (Hear!)—He was not quite accurate when he said that the from the inhabitants of the Borough of Leominster: motion of the Hon. Member was preeiSely • the same as that Mr. JERVOICE presented two petitions, also praying for which had been made by the Hon. Member for Westminster. the repeal of the Assessed Taxes, from the inhabitants of Solis- The latter Hon. Member proposed the repeal of the House and bury and Winchester. Window Duties only, but the Hon. Member for Abingdon A MEmBER on the Opposition Benches expressed a wish wished to extend the repeal to every other article constituting that Members would desist from presenting petitions at that the Assessed Taxes. If the argument which he (the Chancellor late hour of the evening. —(Hear !) Mr. CANNING observed,. that as the House:had permitted a motion which had for its object a repeal of taxation to the one petition to be presented, he could not see how they could amount of two millions, they must a pply with great er f orce t o stop the presentation of mor e s. s one which was intended. so effect a repeal of taxes to the extent Mr. HUME hoped that, for the sake of public convenience, of,three millions and a half. He really thought he was not no more petitions would be presented. Ile had six himself called on to argue the question at all after the recent dedeion which he Would reserve for another occasionth—(A laugh.) of the House.—(Hear !)—lle would detain the House for a very • . Mr. CANNING appealed- to the Speaker, to know what short time while he alluded to one - or two points of the 'Hon. course the House ought to adept without appearing to act un- Member's speech. The Hon. Member had asserted that the fairly towards those Gentlemen who had titions to present. Sinking Fund, or , m o re protterly speaking, the exc ess of re v e n ue . The SPEAKER sugge s t e d, th a t an y Member who had any over expenditure had produced - no - diminution Of debt. The thing to move should get up and move it. Hon. Member bad compared the amount of the debt at the Mr. MABERLY i mme di ate l y rose and a t the same time present moment with its amount in 1819. That was not a fair several Members, with petitions in their hands; also rose.— mode of dealing With the • snbjecto He should have gone back There was, however, a l o Od cr y f or Mr. !Moberly, and after to 1816, *hen a sin-plus of revenue first existed. Since 1816, some time the Hon. Members who had risen gave way, and 25,000 , 000/ . ,of unftencled. debt had- been redeemed, together . /. of unfunded debt. Thi s r ed uc tion had been Mr. MABERLY proCeeded. • He rose, in pursu ance o f with 14,500,090 ffe notice, to move for the repeal of a certain portion of the taxes effected by means of th e sur pl us of revenue over ex penditure, Which were now paid by the people of this country. He in- let -it be called by wh a t. n a m e , ,o r nickname, if it would . the please the Hon. 3lembee, it might. The Hon. Member had tended to deal with the subject. in the largest possible way His object was to procure the repeal of the whole of th e also • alluded to th e - E xc h e qu er Bill s , w hi c h on th e I s t o f . Jan. 1818, were,. for Great Britain and Ireland, 52,082,0091. Assessed Taxes. In the course of his address lie would allude They now were 34,944,0001., being a greater reduction than to the financial scheme whicn the Chancellor of the Exchequer iin the course of the present Session ; he would he (the Chancellor of the' Exchequer) had, spoken of. Be had propoundec sides this; it was perfectly true that there was a considerable also state the view which he entertained of the sinking fund, - and endeavour to prohe the expedien c y o f rem i t ti ng t h e taxes diminution of charge„f or , w hi c h they were indebted to the which he had mentioned. At the commencement of the Session' Sinking Fund. ;He alluded to the reduction of the interest, • the Chancellor of the Exchequer. had exhibited a precis which for though might be thought that that was not referable to contained his plan respecting the expenditure and revenue fcr the Sinking Fundt - yetit was impossible to say that the Sink the next four years. If the Chancellor of the Exchequer's' in g Fund had nothing to do with that saving ; for had not the precis were to be adhered t o , i t wou ld b e i n vain for the country Sinking Fund been in existence, he doubted if he would have: to hope for the repeal of any taxes until the. year 11129. i been in the. situation, to have allowed of the operation taking The Right Hon. Gentl e m an h a d est i mated that on .•the sth of place. The Hon. Member said that by adopting Isis plan, it woaid give such an el e v a ti on t o th e f un d s t h at t h ey mig h t h e Jan. 1828, he would h ave a b a l ance of reve.nue over expenditure amounting to 4,135,9991. Th e Ri g h t H on. Gent. had formed - enabled to reduce the inteneet of the 3 per cents. He (the this estimate with reference to the existence of a Sinking Fund Chancellor of the Excbequer)- could not say what the plea of five millions. The view which he(hlr. M.) entertained was, sure of Parliament might besinder the circumstances stated, that it would be better, in th e p resent s i tuat i on o f t h e coun t ry , hut thi s li e k new , t h at w i t h t h e Si n ki ng Fun d t h ey had re-: d to get rid of the Sinki n g F un d , an d to rem i t taxes to t h at duced the interest of the d e bt 1,700,000/. Th ere were many ktiowing persons who were specul a tin g on t h e a d vance o f the amount. He did not cons id er i t necessar y . t o answer a t any 3 , . length the statements w hi c h h a d be en pu t f ort h w i t h respect to • per cents. to par, and the lion. Member seemed to think the pretended benefits whi c h resu lt e d f rom a Si n ki ng F un d, It.:that a probabl e resu l t o f hi s p l an.. But was the existence. would take a more able c a l cu l a t or th an h e was t o di scover where _of the sinking f u nd toep rec l u d e t h at ? O n t h e contrary, were not the funds in that state to lead to the probability of greater the Sinking Fund had existed since the year 1792. Ile dial reduction ? Ile (the Chanceller of the Exchequer) did not lenged any Member of that House to prove that a Sinking think that the Hon. Member s c hool made out a .yery strong case Fund had been in existence from the year 1792 down to 1819. The House had lately acquired a better notion of the nature of a against his old friend- th e Si n ki ng fu n d .. Th e H on. M em - Sinking Fund,. which was now ac kn ow l e d ge d to b e a surp l us of - her had told th e H ouse , t h a t accor di ng to h i s (t h e Chao revenue over expenditure. In 1792 th e amount o f t h e d e b t was cellor .of the Excheque rs ) statement, -th e y had the gloomy 200,000,0001., and in 1819 it was 000 000 000/. An increase of prospect of no .f a rth er r e d uct i on o f taxat i on f or t h e next four debt of about 600,000,000!. had; therefore, taken place dunng years. He (the Chancello r o f th e E xc h equer) wou ld rat h er not deal in prospect; either glo om y or b r illi an t. But he would sup the period when, as it was asser t e d , t h e S i nk ing F un d h a d b een i n operation. The Hon. Memb er th en procee d e d to areue, t h at pose last year, when 3,200,0001 of t a xe s weeeremitted, the Hon. owing to the recent rise i n th e pr i ce o f t h e F un d s, it . would re- Member might have said, " Ay, thi s i s a ll ver y we ll, b ut if quire a considerably larger sum to pay off the Funded Debt of you keep the sinking fund Y ou .can - re p ea l no more t axes; " yet the United Kingdom (taing the value at 20 ye a r s ' purchase) I 3,200,0001. had been repe a l e d, an d t h e y were now in the situation at the present moment, th an it wou ld h ave required .n 1810._ of repealing 1,250,00111. more, and the. H ouse had not found any indisposition on his part to bring it forward. -If the increas. If the Funds should con ti nue to a d van C e , i t w ould - b e a b surd to suppose that any re d uc ti on o f d e b t cou ld b e e ff ecte d w i th a ing prosperity of the country would do w h a t the Honoure ble Member said it would doe be (the Ch a n ce llor of the Ex- Sinking Fund of five million s . S uc h a Si n ki ng F un d wou ld be of no more import a n ce th an a d rop o f water i n t h e ocean.— chequer) would find hi mse lf i n th e same s i tuat i on as h e h a d • It was not so much the ampunt of the debt as the rate of h i - already been, when th e H ouse m i g h t expect, if he had the terest which was. paid u p on it, t h at P ar li ament oug h t to di rect , honour to fill the s ame s its attention. By. reducin g th e ra t e o f i nterest, t h e pu bli c wou l d he guided by the same prinituation, c that his conduct woul d iple as hitherto it had. Every be immediately relieved. It was wrong to suppose t h at the principle that he had hitherto laid down must lead to the con-. elusion—which indeed lie had always expressed in the-most un venue. The capital whi c h was th us l e f t i n tics of a tax which w as a b an d one d, was -lost -to the re- reserved manner—that if . a tat wa s v e ry hi g h in p r oport i on to he . hands of th e the value of the article, I ,it , via, per se a very good thing to get public was employed in such a way as' to prove beneficial to rid of such taxes. jia s i .s o t p .9 (l, therefore, the house would the revenue.. The amount of the 3 per Cents..was 527,000,0001. and the -interest paid upon them was 15,312,0001. If-.we no: he led-halt by the staid refer of toe Honourable Mem lier, but that , tatty _ refer to the principles on which remained at peace, there could,. he_ very little .doubt that he had already acted. One word, before he sat down, on the the Government would he en..bled in a short time to re subject of the House Tex, on which - he thought he had given duce the interest of .the 3 per Cents. If the interest were re duced to 2f, a saving of 1,330,0091. would -be effected ; but if a satisfactory explanation last.year ; but as the Hon. Member it were reduced to 21, the saving would be 2,635,0001. He had again referred to it, he would re-state what he had then thought it necessary to say a few word s r es p ec ting th e d anger o f 'said. It had - been reported to him, that in many • parts of the trusting the Chancellor of the Exchequer with a large surplus.. country the House-tate, was. unjustly' and unequally levied, houses of the same Size and In such a.case the estimates were sever cut down so low as theyquality, in the same street, being ought to be. Every one knew, f rom hi s own exp e r i ence , t h at differently r a t e d. Thi s appe are d to him to be the very essence when a private individual possessed a considerable surplus of of injustice, though no one. way charged more than the law al income over expenditure, he became imprudent and extravagant. lased ; and he had considered that, on a re-survey, the in- Notwithstanding that the Chancellor of the . Exchequer had ^ crease in the total amount would have enabled him to have pro- • .repealed part of the assessed taxes, h e b e li eved that t h e expenee posed a gener a l d e crease of tax at i on. In that view hehhd .di of collecting was actually „rather now than it had formerly •re cted the resurvey t. but when .he heard that it wascomplain been. Another proof of the Impropriety of trusting the Chan- ed of, be gave di rec tions that no .surcharges should be made.— calor of the Exchequer with a large surplus was to be found in Certainly there - could be no injustiee in making a man, who the improvident bargain which he had made respecting the had been payins• less than heopetht, pay the proper amount ; dead weight by which the Right Hon.' Gent. -lost 2,000,000/. and on that point he thought Ins conduct had not merited the When the Right Hon. Gent._ had stated that he wanted 904{0001. animadversion of the lion. Member. for Churches, Palaces, and Pictures, there was a stron g feel- Mr. HUME contended, that the Right Hon. Gentleman had ing in the House that the wants of the country , had been committed mistakes in the cour se .of his calculations, upon trifled with. He would now state to the House the taxes which which he could set him right. They-had been before told by the he proposed t o re p ea l. „ They were the house and window Right. Hon. Gentleman that twenty-four millions had been re duties, the horse and agricultund horse tax, the tax on car- duced by the means of the sinking 'fund. But - now all at riages and carts, the tax on coachinakers' licenses, the tax on once it had arisen to thirty-nine millions. Now, he had before hair-powder and armorial bearings, the composition for the shewn that not one shilling of the interest , of Debt could have above; &c., amounting altogether to .3,569,0001. a-year. If the been reduced by the operation - Of' - the' sinking fund, and if he House should think prop e r t o vot e fa r the repeal of those taxes, had his papers with him then he:would again establish that fact. he could see no reason why the - whole expellee of collecting He would venture to say that-the Right Hon. Gentleman could them, amounting to 300,0001., should not also be got rid of. produce no proof of his assertions ' , by any document he could If the taxes should be _repealed, there could be no pretence for put upon the table. There had' been many apparent, but hal retaining any part of the :equine,: of collecting them, except, lacioue reductions of interest. The fact was that there had indeed, for the purpose of affording retired allowances to those been surplusses for several years,-which, by being applied to who had been engaged in that service. He would be the last the support of the foolish sin'king fund had been utterly lost man to propose that a servant should'be turned adrift without to the nation. The Right :Hon..- Gentleman appealed to the reward, because his services were no longer required. It w as consistency of the House, an appeal which would serve bins but not by such paltry savings as. might be effected by such very little, when it was remembered that the same House hall a proceeding that the country would be benefitted. On actually resolved that it could repeal no more taxes, while the. the contrary, he thought that' it was for the advantage Right Hon: Gentleman himself was taking credit to himself for of the country, that men who had spent a considerable por- having repealed several millions-of taxes. The' question there_ Lion of their lives in the public service, should be adequately fore must not - be decided upon the consistency of - hhe House, provided for when the period of their retirement arrived. There but upon its own merits. The table was loaded with petitions was no chance that the Chancellor of the Exchequer, if l e ft to for the semission of these taxes, and there could 'be no doubt himself, would remit the taxes which he (Mr. Maberly) pro- that the most beneficial effects would result from such a posed to repeal. That. indeed, was pretty evident from wh a t measure. A positive, practical,. and immediate benefit would occurred shortly after the late repeal of a portion of the Hou s e proceed from such a etep, whereas the supposed benefits and Window Duties. At that time the Commissioners of of the Sinking Fund were alleiti ' the distance. The return Taxes sent letters to the Assessors in all parts of the country, of three millions into • the pockets of the 'people would directing them to survey the houses.in the district, anti telling promote such an - accumulation- of capital in the' country as them that if they used their utmost diligence, and increased would be the surest - Fund for the 'nedeetion of the Debt. the amount of the returns, they would be favourably recorn. This was the very doctrin e ur ged by;'a Noble Lord, who opened mended to the Treasury. This proceeding created the utmost - the Budget last year, whose very wordahvere, that if this money alarm throughout the country, and representations poured in were left in the pockets ! of the people it would fructify a nd upon Government on the subject f rom all quarters. The Chan- revivify to the benefit of the country. Why 'then should eellortof the Exchequer, under those circumstances, wisely put a there be a change of doctrine now ? II e - was sure if his Ma stop to the proposed survey, which-he declared was only thought jesty's Ministers - would apply the , same sound principle to of for the purpose of equalizing the duties. But if there was any finance as they had begun to apply .to commerce, they would import in words, it w a s ev id ent that the object of - the C e mmis _ certa i n l y di spense with the Sinking Fuod. .It was not to sioners of Taxes was to incre ase an d n o t to equalize the duties. injure the credit of the, count r y th a t he asked this; on the coin , The assessed taxes mustbe considered as direct taxes. -But how .trar3%, lie considered the credit of the country would be assisted would the House receive a proposition for the imposition of an by such a step. He hoped that every Hon. Member who had Income or Property Tax, which was th e o nly f a ir mode of direct presented petitions against this Fund, would support the taxation ? The House would, l ie b e li eve d, scarce ly a llow such a moti on o f his Hon. Friend. • plan to be stated. The strono• feeling which prevailed against Mr. - Alderman HEYGATE sa id that he could not acqu i esce h . assess e d taxes was owing to tile inquisitorial system by which in the proposition that wa s t h en before the House, although h e they were collected. The whole of the machinery by which the must adnnt that the Asse sse d Taxes were more hateful to th e assessed taxes were collected was most oppressive. In 3-4ths country th a n any that could be proposed—(Hear, hear ! and 'of the case in which penalties were incurred on account of not Laughter)—yet lie felt convinced that the credit of the country filling up the returns, p eo pl e erre d, not intentionally, but from required th a t the Sinkin g Fund should be supported, and he ignorance with respect to what they ought to do. Poor people was therefore of opinion that these taxes could not be repealed were fre quen tly deterred f r om app , :aling against the decision of at the expenee of that Fund ; but if it were possible-that the the collectors on account of the loss of time which generally Assessed Taxes could be red uce d consistently 'with the preser attended such a proceeding. It might be said th a t carriages vation of Sinking Fund, then th e motion should have his most were articles of luxury, and therefore were proper objects of hearty concurrence. i taxation. But looking-glasses were quite aS much articles of Mr. N. CALVERT opposed the motion, as he thought that ' " x edY as carriages, and et the former did. no t p ay an a nn ua l th ose t a xes ought fir s t to be reduce d by w hi c h the price of 1 n'itY, - whilst the latter did.. 'flee Co::. Member then alluded labour might be enhanced. to Ireland, Which was relieved from the assessed • In 1 , / C pEI HAM said a few words, which were inaudible taxes. , r . C. EL HAM the taxation head, ' amounted to no more than 10s. per in the Gallery. • „ Whilst in En l , --A ant. it aer wined to '1 10. p e r bead. Nearly Mr, MA BERTA', in reply, observed, that if the statement of the whole eXpence. of Ireland''.' '' * s. fell upon the e people of Englami• the Right lion. Gentleman (the Chancellor of the EXchequer) —This was to be attributed to th -w 'of emment which correct, there could be no hope or any reduction of taxation prevailed in.that count,• I ie am mode was year 1 0,3 The for Sudbury ' e „ y. ic feared that if some of re- before the . l (, • Hon. Member Sudbury (Alder lieving the diste h 1 dun .p.es of Irelend were not devised, she would man Ileygate) a, declared that he had spoken on the question become a :mus enemy to England. - The unfortunate for the sake of his constituents ; and although he thought a reduc sintatlon of Ireland would induce her to rebel, and lace hers; f • •oftaxation most desirable he p erse f non , should vote aga' inst the present under. the protection of any Foreign Power that appeared to motion, on account of the Sinking Fund. Surely a more entraore sympathize with her tuner:i lea to e. lie Hon. Member concluded dinary doctrine was never put forth by an Alerman of the City .by moving the following resolution : of London : and as to the- Hon. Gentleman's constituents, he " That it . is expedient, that tican and .nfter the sth day of sincerely wished that they had b e en w ithin hearin g o fhia speec h ; January, 1825 ; the duties now payabl e on h ouse s and windo ws h u t a s that was not nossible,he hopedhlle Hon. Member would be correctly reported, that these persons might at least have the advantage of reading it. The Right Hon. Gentleman had stated that he (Mr. Moberly) had forgotten that the Unfunded Debt in 1 816 was fifty-two millions. But that statement was unfounded, for it was then forty-nine millions for England and, Ireland ; - and since 1819 there were thirteen millions of Un funded and nine millions of Funded Debt redeemed ; and the papers that would be on the table in a few days would not only confirm that but every other point he had stated. He intreated the House to recollect that if they did not, by their vote that night, compel Ministers to the adoption of the measure that he proposed, there was no chance of a reduction of taxation taking place hefOre the year 1823. Lord MILTON rose amidst a general cry of " Question," and observed, that he should vote for the motion of the Hon. Member, because he thought it the only mode of driving Mi nisters to a reduction of taxation. It might be said, that in voting for the reduction of the Assessed Taxes, they were bene -kiting themselves, and neglecting the interests of the poor ; who ought to have duties on soap and candles repealed, which were articles of such necessary consumption for them. But, never theless, he thought the measure of the Hon. Member would go a long way in driving Ministers to a reduction of taxation, and therefore he should vote for the motion. The House then divided, when there appeared-- For Mr. 3laberley's motion Against it - - - Majority against the motion • COUNTY COURTS BILL. On our readmission into the gallery, we found the House in a Committee on the further consideration of the Report of the County Court's Bill; and Mr. ScAn LETT was observing, that he would not consent to give a number of places of 800/. a year.to the patronage of.the Chancellor, which would be the case' by the operation of the present Bill. The clause which Mr. Scarlett objected to was, after a few words from Lord Al.-I'IIORP, agreed to. On the clause being read, for allowing Attornies to act as Advocates, WEST INDIA DOCKS. DELIVERIES for the WEEK, and STOCK ON HAIM for the 'Week ending the Bth of May, 1824. Delivered. - 1 Articles. H ome Stock 00 Con- Exports- Hand. sumption. tion. -----... Sugar lihds . - 2,657 - 14,683 { Tierces - - 161 , 5 1,81 0 ( Puncheons - 33 137 24,40 3 Ram J, (lihds • - - 4 11 806 'Bids and Tierces 134 218 11,00 6 Mae / Barrels and Bags 121 • 455 23,00 5 {Bales and Bags - ' - 27 3 Cotton Pockets and Sarong - - 7 2 {Butts and Pipes 21 ,- - 1,544 - Wine lihds and 4 Casks 15 - 956 Casks - - - - 145 Pins en to Bags - - 1 120 0,323 ( Casks - - 7 . - 4 . 4 Clinger J., ( Bags - - - - 11 {Casks - I 4 - i 611 Cocoa Bags - . 36 - I,xll Logwood Tons . - . 1321 20 3,3231 Fustic Tons - -15 i . - 1,2951 - - 171 -93 The ATTORNEY-GENERAL moved as an amendmesit, that neither Barristers norAttornies should be allowed to uct as Advocates in any of these Courts. After a few words from the Solicitor-General, Lord Althorp, Mr. Scarlett, and Mr. Peel, the amendment was agreed to. Several clauses were then agreed to ; and upon that of com pensation being proposed, The ATTORNEY-GENERAL proposed that the Chair man should report progress, and ask leave to sit again. . . Mr. BROUGHAM cordially seconded the motion. Mr. SCARLEW hoped that the officers of the County Pala tine of Lancaster would be altogether cxemnted from the °per-. ation of the bill. El e intended to move an amendment to that effect; The report was then ordered to be taken into consideration on Monday next. The other Orders of the Day were then disposed of, and the House adjourned at HALF-PAST ONE o'CLocz. Chests of Sugar Cae.,:s of Molasses a .a For LITERARY No' 1,t1951 ICE, see the Fourth Page. LIST OF THE MINORITY Who voted on Mr. Maberly's Motion for taking off the As sessed Taxes. Althorp, Visct. Hornby, Ed. Rickford, W. Anson, Hon. G. Howard, Lord H. Scarlett, J. Barrett, S. M. James. W. Scott, J. Becher, W. W. Jervoise, G. P. Sefton, Earl of Bernal, Ralph Knight, R. • Smith, Hon. IL Birch, J. Lambton, J. G. Stanley, Lord Brougham, IL Ikyeester, IL Stewart, W. (Tyr.) Bright, H. illaberly, W. L. Stuart, 'Lord J. Bond, Marjoribanks, S. Sykes, D. Calcraft, J. Maxwell, J. Shelley, Sir J. Calvert, C. Milton, Viscount Talbot, R. W. Carter, J. Monck J. B. Taylor, M. A. Caulfield, Hon.. H. Moore, Peter Tynte, C. K. Cavendish, C. Newport, Sir J. Townshend, Ld. C. Chaloner, R. Osborne, Lord F. Warre, J. A. Cradock, S. Palmer, C. Western, C. C. Crespigny, Sir W. Palmer, C. F. Whitbread, S. C. Denison, W. J. ' Pares, T. IVhitbread, W. H. Denman, T. Poyntz, W. S. Williams, J. Dundas, Hon. T. Pryse, F. Williams T. P. Davenport, D. Portman, J. B. Williams, W. Folkestone, Visct. Proby, Hon. G. L. Winnington, Sir T. Grosvenor, Hon. R. Ramsay, Sir A. W oo d , A i. Gordon, R. Robarts, G. J. 'Wrottesley, Sir J. Heron, Sir R. Robinson, Sir Geo. TELLERS. Honeywood, W. P. Rowley, Sir W. Hume, J. Hobhouse, J. C. Russell, Ld W. Maberly, J. 14 .- RELAMENTARN PROCEBIANGS. PRICE OP STOCKS Tii IS DAY AT ONE O'CLOCIC• Bank Stock lndia Stock ' - 299. 3 per Cent. iced......... 95jii Inclia Bonds 625• 3 per Cent. Cons. 96i 86 south Sea Stock • --- 3.i per Cent. ' 104 2;,• Old Annuities --• (Old l,lO/ Ex. Bills ' 42 40 24 4 per Cent. Assented 101•14 Ditto :Small . „39, 4 3 New 108:a 874 Bank for Act. • • • .-- Bank Long Ann 24 India for Con. Acct.. Imp. 3 per Cents. • I Cons. for Acet. ONi - ' ".......... PRICES OF FOREIGN FUNDS, AT ONE O'CLOCK.: Austrian Bds, 5 per cent. 96i Prussian, 5 percent. -- Chilian, 6 per cent 826 Ditto New -- Colombian ltds.6per cent. Russian, New, 5 per eent 97 Scrip 24 Spanish 1821, 5 per cent. 20 Danish, 5 per cent. — _ 182, ditto -- Greek Scrip i dis. Alliance Shares lBt Mexican Scrip si pm. Palladium Neapolitan, 5 per cent. ... --Equitable Loan s4l Peruvian Scrip lrish Ditto 1 1 Portuguese gonds Scrip HIGH WATER AT LONDO: Morning, 16 minutes after 1. Al anchester Ditto French Scrip 'N BRIDGE TO.MORROIV. I Evening, 43 minutes after , 1. THE - SUN. 110 USE OF COMMONS. Lunce, 10° die Mali, 1824. Bram:mg—Lary—Bill read a second time, and committed. Hammersmith—Petition of Proprietors of Putney Bridge, against, to lie on the table. Fitz IxsurtAlTc U John's) Bills reported to be VicsTrty—Southw.A9 LIGHT s—H ereford a ark (St. d Edinburgh . m ' grossed. lurnovz3LENTS—Canterbury—Bill reported, to be ingross ed. Walsall—Bill read a third time, and passed. PANivo--„Ashford and Rudlow CIIURc ii-Blackburn , time, and passed. Bills read a third Di vIDZNIYS TRANSFER (England and Ireland) eLASS AND SWEETS ROADS—Haw Bridge, Birstall and Hohne Lane Head, Glas gow mg - Tossed. Halifax and ,Huddersfield—Seven Petitions, Against, referred to the Committee on the Bill; and One, in favour, to lie on the table. Finchley—Petition of Sir T. M. -Wilson, against, to lie on the table. Renfrewshire— Petition of the Incorporation of the Merchant House of Glas low, against, referred to the Committ ee on th e Bill. Shep ey and, Barnsley—Petitions of Inhabitants of Hohnfirth, Barnsley, Shepley, &c. in favour, to lie on the table ; and of Proprietors of Barnsley Canal, referred to the Committee on the Bill. Docxs—St. Katherine's and South London—Petition of Mer chants, &c. of Rye, in favour, to lie on the table; and of Directors of Commercial Dock, against, referred to the Com mittee on the Bill. CANA L—Glamorganshire—Petition of the Marquis of Bute and Earl of Dumfries, against, to lie on the table. CITY or Loirnox—Orphans' Fund, Thames Navigation, and Coal Exchange Debts,-Bills read a first time. NAVIGATION—Newry—BiII ordered to be brought in. Med way—Petition of Chairman of the Medway Company, against, referred to the Committee on the Bill. COMPANIES—British Annuity and British Gas—Bills read a first time. West India—Bill read a second time, and com mitted. :QUIN Q 111.4 DICF,RE FALSUM AUDI:AT.? LONDON, TUESDAY, MAY 11, 1824. CITY, ON o'CLocx. cEL O L n o e it o o f f t t i lf ie e E n x ew oll a rQ rr u a E ng it e l m vi e li nts of h be productive C cti ll ve A - o f a saving of about 50,0001. per annum to the country. It has hitherto been the practice to permit the progressive accumulations of surplus revenue, during each quarter, to be deposited iti the. Bank of England, without any interest accru ing upon them ; and thus, if Government •bor rowed a sum of money from the Bank (and by. Act of Parliament they are entitled to take Len millions quarterly from the Bank in advance of •the Quarter's Revenue),they were charged with interest for the whole of the sum so borro;ied,, although the Bank had actually funds, and thoSe continually increasing funds, too, belonging to the Government, in its coffers. The new arrangement . , by which the loss arising from the old method of keeping the account with the Bank is in future to be obviated, is simply to keep in account current between the Government add the Bank of England, on precisely the same prin ciple as that of an account between the Bank and a private mercantile establishment. At the. end of each quarter, the interest accruing on the actual. advances (if any), made by the Bank, of sums of money exceedihg the amount of the public funds in their hands, will be calculated, at the end of each quarter, from the precise dates of such advances respebtively, and the balance being struck in the usual way, the saving I have men. tioned aluive is expected to be the result. One o'Clocic.--The article in the Etoile rela tive to the overtures made by the Comriiissioners for the Brazils to the Portuguese Government, at first excited some surprise : but on N,Clection EAST INDIA CO 3 IPAWY—BiII ordered to be brought in. DRAINAGE. Wainfleet (Lincoln)—Three Petitions, against, referred to,the Committee on the Bill ; and One, to lie on the table. EQUITABLE LOAN SOClETY—Manchester and Salford—Bill read a second time, and committed. RAILWAYS —Tees and Weardale—Petition from Stockton upon-Tees, in favour, to lie on the table. BarnEwELL—Lanarkshire—Petition of Henry Houldsworth, against, referred to the Committee on the Bill. INceosunEs—Meltham (York)—Petition of Owners of Es tates, against, referred to the Committee on the Bill. MESSAGE FROM THE LORDS—That -they have agreed to Exchequer Bills ( Public Works) Bill, Militia Pay Bill, Ruin Duties Bill, Sugar Bounties Bill, and Monkland and . Kirkintulloch Railway Bill, without amendment; and to Liverpool Pilots Bill, with amendments. AssESSED TAXES—Petitions from Leominster and Hants, for the repeal-thereof; to lie on the table. COUNTY COURTS BlLL—Committee to report progress, and to sit again can Thursday. LAW STAMPS REPEAL—BiII reported, to be.read a third time on Thursday. PASSAGE 'VESSELS REGULATION—BiII considered in Com mittee ; to be reported this day. HIDES AND SKINS BlLL—Petitions from Butchers of Col chester and London, in favour, referred to the Committee on the Bill. Five of the Committee to be the quorum; power to send for persons, papers, and records. NOTICES OF MOTION'S FOR THIS DAY. 1. Lord Viscount Althorp_Motion on the general state of Ire land. 2. Mr. Curteis—Bill to amend the Law of Settlement, so far as relates to Seafaring Apprentices. 3. Mr. Henries—Bill to allow persons to compound for their Assessed Taxes for the remainder of the periods of Om posi don. 4. Mr. Herries—Bill to amend Hull Dock Act, so far as re lates to certain lands belonging to his Majesty. ORDERS OF_ THE DAY FOR THIS DAY. %vas obvious that the Etoile refers to tiro nego. ciations which are on the lapis between the Uabi- nets of Lisbon and Rio d e Janeiro, under the me ! . diation of this country. It is certain, however, that these o negociations ar e i n a b a d state, an d t h at n progress whatev er h as b een ma d e towar d s an amicable arrangement. The Portuguese are de- 1. Bossiney Borough Election for Commit- tee, at thiee. • 2. Chelsea and Greenwich Hospitals Bill—Second Reading. 3. Exchequer Court Fees Investment Bill—Second Reading. 4. Juries (Scotland) Bill—Further cgnsideration of Report. 5. Plymouth Victualling Office Bill—Report. 6. Passage Vessels Regulation Bill—Report. 7. County Courts Bill (Compensation to Town Clerk of Cam bridge)--Cominittee thereupon. 3. Leather, &c. Duties (Ireland)—Committee thereupon. 9. Parochial Stipends (Scotland) Act--Committee thereupon. NOTICE GIVEN YESTERDAY. _ Tuesday, May.lB. Mr. Dawson—Bill to repeal 29 Geo. 2, c. 16, which obliges the name of every partner of a Bank to be mentioned on the Notes, and prohibits Bankers from Trading as Mer chants. ermined to tr.alie an attempt with the expedi- tion now fitting out, and it is quite certain that the means for enabling it to effect an impression are but too well prepared at the place of its destination. The ship Friends, from Rio de Janeiro on the 4th Marth, arrived at Guernsey on Friday last. She has brought letters which confirm the original accounts as to the augmentation of the French nav left son , 1 5 ec of f ro It: sfil Nei lioi ilcs t the e r (let ei4 ab ( shi 3es 11 01 h, e re; the I lk , w e i (1 11 c, 4441 t rtlt rrn ~~ e ~ th e liath that Lout °Per, 'absf