The Sun. — London, England, 1856-12-25 00:00:00

ONE Y MARKET AND COMMERCIAL INTELLIGENCE. CITY, Two O'CLOCK This day being observed as a strict holiday in the City, the Stock Exchange, the Bank of Eng land, the Custom-house, as usual, are closed. BRITISH FUNDS.—CLOSING PEJOES, DLO. 24. (.From the Officio Lid.) ftriqltisew Bank Stock :,er Vent. Reduced Alienate:, K. 3 .7 3 per Cent. Annuities inein .CIDII9 Ditto, under £lOOO. Cbasols lor Ac , ount 3zonequer Bills, lid, £lOOO, lto Ditto Bonds, 1853, 3i per Cent.. 984 Ditto, 1359 FOREIGN FUNDS Grenada New Active, 2i per Cent. Peruvian Bon:1s 4i per Ceut Ditto Account Portuguese Bonds, 5 per Cent., Con. 1841 Ditto 1853, 3 per Cent 73*rdiniao Bon as, 5 per Cent. Ditto Account Sp.,niEh ;:okcts, 3 per Cent , Ditto Pew Deferred, 3 per Cent. Ditto Account 244 rurkieh Bonds, 6 per cent Ditto Account 95 1 Ditto Guaranteed, 4 per Cent. Ditto Account Yes,eznela Bonds, 41 per Cent Ditto Account .“-remit. on the above , avab' e Dutch Exchange, 2i per Con;., 12 Guilders Ditto 4 per Cent. Certificates 971. THREE O'CLOCK 2p 931 i i 4 .. 36/ 6 se Cnnsol3 '(money) Ditto• Account (January S) , INCOME-T.A X MBE riN OS. CLIELTENEIANT. On Tuesday bight a meeting, convened by requisition to the nigh Bailiff, was held at the Town-hall, Cheltenham • ' ° lto take into consideration the oppressive and inquisitorial 'operation of the income tax, and to memorialise her Ma .Jesty's Government against its continuance in its present form." The chair was taken by Captain Berkeley, M.P. who, In openi ng the p rocee di ngs , expresse d a h ope that tho aPea'sers would confine themselves to the matters before the loeatinz, and not diverge into other political questions . F ie then b r i e fly re f erre d t o th e hi story of the tax, spoke Of AS increase in the time of war, and expressed his opinion that as we were now at peace it was no longer required. Ali. Tent then moved a resolution, affirming that the pre - tent tax of ls. 4d. in the pound is "enormous in amount, and from the manner in which it is assessed is in many in stances inquisitorial, unjust, unequally and offensively levied," and that its continuance beyond the sth of Apiil next would be " a violation of faith and ofproimises made at tb'e time of its enactment b 3 her Majesty's Govern bter' t." The resolution was seconded by Mr. Hale and quarried unanimously. Mr. W. H. Gwinnett, solicitor, 'Moved the second resolution, " That the mode of assess anent of the income tax is repugnant to the feelings of 'every Englishman, calculated to admit of extortion on the one hand and extreme evasion on the other; that - the war being ended it ought not to be continued; and pledging the meeting to use every legitimate means for procuring it immediate modification and ultimate abro gation." Mr. W. S. Davis seconded the motion, which Was carried. The Rev. Mr. Humphreys, head master of the Cheltenham Grammar School, moved the third resolu -111)b, affirming that the meeting did not object to a " fair end equitably appor ti one d tax upon real i sed property. " ai r. Humphreys, who said he had written a work on taxation, which had received the direct sanction of the P n l verunnent, maintained that the fairest direct tax was a tax on realised property, not a tax on precarious income, a nd ttiat if an income tax be rendered absolutely necessary "3" ta%e nature of things the graduated or sliding scale be applied to it. It should be graduated in proper ton to the mean s o f th ose w h o have to pay it. M. H. lofian, bookseller, seconded the motion, expressing him thvourable rather to indirect than to direct taxation. T he resolution was carried, and a petition to Parliament agreed upon. Mr. Harper, newspaper proprietor, 'then moved a resolution, condemning the mode in which the local commissioners had exercised their powers, and alsclaring that they ought to be elected by the ratepayers of the district for which they acted. This was seconded by Mr. Cape, and carried ; and a vote of thanks to the Chairman closed the proceedings. THE CIRCULAMG MEDIUM". --41 . Z>.- 2593 perty worth 4161., say, the tail of a lease, the end of a life interest, the remnant of professional capacity, the Long Annuities, which expire in 1860, and a thousand other brief and precarious incomes, you tax at the enormous rate of 21. Bs. per cent. on their property value, while your Consols, Exchequer Bills, and other, property in ab solute possession, upon which you may realise to-morrow the full value of the perpetuity, you tax at the rate only of sa. 4d. per cent. Ch. of Ex. (submissively) —That is so, sir. • Sp.—And you think this a neer approach to absolute equality, do you? to assume, first, that a man's brain is so much property, and bringing it to a money value, to tax 4001. of that value as though it were 4,0001. stock on land; imposing upon one 48e. per cent, property tax, and upon another ss: 1.1. percent. only. Agairf, you think it fair to tax the Long Annuitant, whose income expires in 18.0, and whose property sells now for 416'.., according to your own calculation, at the rate of 4aa per cent., on the value, while you impose on the owner of annuities expiring in 1680 (23 years hence) a tax at the rate of Bs. 11d. per cent., and on the owner of Consols, whose property will realise to-day 3,7501., just ss. 4.1. par cent. Oh. of Ex.—l fear the tax cannot be justified, on the ground of equality. Sp. (with dignity) —I should think not, indeed. Accept, sir, and profit by this definition of your tax :—An Income Tax, levied as at present, is a graduated Property Tax, the gradation of taxation being so contrived as to fall with crushing weight on the shoulders of industry, to the relief of accumulated wealth. In addition to this definition, 1 fur nish you with a scale which I h ave p re p are d, t o inform all classas at what rates the tax falls upon them. (See Tables 1. and IL) Ch. of Ex.—Pray do not publish ycur scale until I have devised some tax as a substitute. Consider the difficulty of my position, the maintenance of the credit of the State, its honour at home and abroad, its dig--' Sp. (impatiently)—Fudge ! How can the credit and ho nour of any country be maintained by injustice and op pression? " Righteousness (equity) exalteth a nation"—so we read. Levy your taxes fairly, and the honour and credit of thecountry will take care of themselves. Ch. of Ex.—True, sir ; but I was about, when you inter rupted me, to remind you of the claims of the public cre ditor. Can you add to the obligations already conferred on me, by suggesting a tax as a substitute for that which, I suppose, I must relinquish ? 4.—Before doing so, I must inform you that we spirits enjoy clearer views of these things than we did while look ing through mortal eyes, and we do not perceive any occa sion at all for providing a tax as a substitute. To me it is quite apparent that a proper representation of the tax-pay ing people, due attention to the voting of supplies (which is now a farce), together with the vet'y simple expedient of the publication of a detailed statement of the national re ceipt and expenditure, would obviate any occasion for a substituted taxation. Ch. of Ex. (exhibiting extreme agitation)—Surely, sir, you would not advocate so imprudent a measure as the publication of the details of the expenditure of the several departments? Sp.-Indeed, Ido advocate it. You have required it of the poor law unions, have you not? Ch. of Ex.—Yes. Sp.—And of the municipal corporations, the savings banks, the prisona, the police, the county courts, the Court of Chancery, Sec. ' Ch. of Ex,—Very true; but, consider the different na ture of their expenditure. You would not expose to the impertinent curiosity of the public gaze the amount ro e ceived by this or that official, diselosing the "secrete of the various departments ? It would be striking a blow at the roots of oar political institutions. Sp —I know it would, and shall take steps for prcmul gating my views on the subject. Ch. of Er. (its extremity of his agitation forgetting the spiritual nature of his visitant)—l pray you, good sir, do nut act with precipitation iu this matter; I will speak to Lord P—n ; a place at the Treasury Board could not be more worthily occupied than by yourself. But atop—a vacant Garter is at his disposal, and would doubtless be ofiered for your acceptance. Sp. (interrupting, with a hearty laugh)—A garter ! how can a spirit's leg be invested with a garter? Ch. of Ex. (awaking to a sense of his position)— True, I forgot myself for a moment ; a dignity of that kind would be somewhat out of place. Sp.—Of course it would. Such things possess no value in the spirit world ; from the order of the Seraphim of Swe den down to the Garter of Gloat Britain, all such deoora tions are alike worthless. Ch. of Ex.—Assuming, however, that a tax by way of substitute should be required, what tax do you recom mend ? HUDDERSFIELD. ,Ort. Monday evening a meeting of th e i n h a bit ants of 4 tVider s field and its vicinity was held in the Pbilosophi having been convened by the Chief Constable ‘Psti a requisition, signed by about 400 persons, to con %ider the propriety' of petitioning Parliament for a modi- Illeation of the income tax, and an alter .tion of the present 'harassing manner of assessing it. The Chief Constable i ir ksided, an d severa l i n fl uen ti a l gentlemen a dd resse d t he, t meeti ng upon t h e i nequa liti es o f th e i ncome t ax , f or Most part upholding, however, the principle of direct Z la tion- Resolutions were passed stating that in the Pinio n of the meeting, now the war had ceased, the tax 'uottld be reduced to the rates it would have been assessed at ' under the act of 1853, had the war not intervened ; at the machinery for the assessment of the tax was de. ' ee tive; " a moiety of the gen era l an d additional commis ail.o.%ers should be p er i o di ca ll y e l ected b y those l i a b le to th e at and that the in equa liti es o f t h e tax s h ou ld b e l e . r oedied by " diff eren ti a l d ut i es upon different descrip tolons of i ncome , accor di ng to their relative character of 4 111 .1 3 arative perm anence or precar i ousness. " These reso. t iona were to be embodied in a petition, and sent to tiN to the lkount oderich, M.P. for Hudd ers fi e ld, f or presen t a - House of Commons. ROCHESTER. I tin Tuesday evenin g a common hall of the citizens of Zehester was held in th a t c it y, presided over by the ' 4 3 , 0r, Mr. W. Manclark, f or th e purpose of seeking the 4150 1 T ion of the income tax at the earliest. possible period, especially the additional war tax of 9d. in the pound. e Mayor, who is one of the local commissioners for tho ")ttisi tax, denounced - the impost as b e i ng b oth unjust ! :14 despotic. From his experience as one of the commis .bllllers he had long been of opinion that it afforded a pre 41.eni for rascality, and was a curse to the country. Mr. Everest moved a resolution to the effect that an income nn the trades, professions, and general industry of the 4 r ,"v37 is unjust in principle, and that from the desp o ti c 4 ith l ; , ,' inquisitorial m o de of its assessment it is obnoxi ous injurious to the community, and therefore that it nght to be abolished at the earliest possible period. The reso lution also stated that the continuance of the present Vitional war trorof 9d. in the `pound beyond the s th of 1 1)t 'il next wou ld b e a v i o l a ti on o f the spirit of the act of 4rliatnent, by which the public wore lea to believe that t 6 1s impost should not b e co nti nu ed for more than one yA 41' after the termination o f h os tilities. This resolution 4.' , 44 carri e d unanimously • and, after the meeting had been ' i l 'essed by J. Fern* E:q., Mr. J. Thomas, and Mr. F. t i geeler, a petition to Pailiatnent, praying for the reduc :4 and subsequent repeal of tho income tax, was unam. 1)1181 Y agreed to LLOYD'S 3IIIPPING. I .—(T.hiI Day.) IiIDoN, e an Dec d. f 25.-- Wind this day at noon, N.N.E.; tlilbteezrosty weathe Oixrteoor. Dec. 21.—The Majestic, of Yarmouth, from 11 6 Port to Boston, put into Beaumaris, yesterd a y, has , - et°' oo t he night of the 21st ult., c a r r i e d awa y h er j i b an d 7 sk. 11,11,1ERDAM. Dec. 22.—The Oliveira V. Santana, from lkil_kburg to Lisbon, was stranded near Gravelines the lur t ir end of November; cargo being saved. The Hen ag,Rebecca, from Hamburg to St. Thomas, put into katadt, on the 10th Dec., h av i ng sus t a i ne d muc h (h- ZION, Dec. 15.—1 t has blown hard here at intervals o ti ' l N the past week from S. W. to S. and a heavy sea 1 • 4 t) bar, which has prevented vessels ' getting out. 4,,,AcitrAr t r, Dec. 17.—The whole of the cargo, per Hein ht;lo. from England, w hi c h wen t on s h ore at Pnzzinotia, 44,; e 7orres Straits, on the 9th Dec., is expected to be CUSTOM -HOUSE, WEDNESDAY, Dna 21. 11 0 701tRED INWARDS.— Forth, from Dantzic ; Pigeon, Hol km` City of Naples, Nantes ; Luther, Pillan ; Josephine, ticks; Times, Mogadore ' • Richard, Wolg as t ; C ar l F re- A t . Dantzic • Ceres, Stege ; Caroline, Nyki op i ng ; •0 4 ,7`,. tjudikswall i ; Bacchante, Oporto ; Province D ren th e , lier z le; Alma, Nestoed • Phcenix, Bahia ; Riv a l, Vill a - Wii r P 4 ; Dale, Odessa; garah Richardson, Gotteuburgh ; 14111 1 Stettin ; Nema, Rnfina ; R i vadeo, Orveu; Joues, ),E/ t te T tlt • l i -1211 ED OUTWARDS.—The Bezaliol, for Barbadoes ; of I:l 4 nte, Oporto ; City of Nantes, Nantes ; Globe, Cape' 4 41. °° c 1 Rope; Cordia, Reva do Sella ; Lieutenant Beliot, 4 .b utit tst ; Volga, Seville ; Navigator, Malaga ; Eleanor " 18 , St. John's, Newfoundland. ptIIOLIDAYS AT THE COMMON-LAW OFFICES.—The whole_ 14 th e various offices connected with the Courts of fib -cel l'' , Bench, Common Pleas, a n d Exchequer will be dated this (Christmas day), to-morrow (Friday), Satur y, An d Mo n d ay, an d re - open on Tuesday at 11 o ' clock. Ageet holidays were fixed by the Uniformity of Process 4011,and have b een i ncor p ora t e d i n the rules re l at i ng t o F 431, under th e C ommon L aw P rocedure A ct. itldr/713aES' CHAMBERS.—The ch am b erb o f t h e severa l the :I'4l Sergeant's-inn will be closed this day ; Friday, 117, 6 v. t h ; Saturday, 27th ; and Monday, 29tb instant. tiebs - ' 4l, COLLEGE OF SURGEONS.—The following gm t4,;",,e,n, having undergone the necessary examination for 12i4,1illotna, were admitted members of the colleg►e at a At . t of the Court of Examiners on the 22d inst. : \\)) 1 ,". Charles Culletige Balding, Bark way, Ilea; ; kejj'4"l Dresser , Arhorstone, Warwickshire ; Ri win lt - h et t) Lei; t • Francis James Bailey, Blackburn, Itjekfhire ; Thomas eBr' Atherton Kinnard, Lambonrne, 04ttogehire ; - Edward Benbow, army ; and Richard `tor 'White, Southgate-road, Islington. A DIALOGUE ON THE IA COME TAX. TO TUE EDITOR oat VIE Ektizr. Pu 7 )Uß:rad by Effingham Wilson, Royal Exchange. SIR,--In my former l e tt ers r expl a in e d teat the Times SCENE —An apartment in Downing-street, with blue was in error when It stated that a ' R in k o f E ng l an d note b oo k s, wr i ting materials, papers, and red. tape. The would be acceptable to the people only ..te long as it was . Chancellor of the Exchequer is discovered, absorbed iu supposed to be conaertiale into gold on.derna.nd. I re- ap b a t ious thdught. risiee from the ground tho Spirit of Cocker. ferred to the year 1825, when, at a crisis like the pre- pint eta, e , .. . Spirit of Coeker—What meddlesome medium has sum sent, a further issue of notes was retorted to, by the money me from my resting-place ? advice of Lord Ashburton) inattasirg the paper currency Chencellor of the Exch equer —F org i ve , ill us t r i ous s h a d e, to 24,479,0001., when it as genera ll y k nown that there i the unwarrantable intrusion upon your-- were only a leer hundreds of thousand s of bullion in the , Sp.--`Speek, I pray you, with brevity—my time is short, Bank coffers. So, witheut relying upon any mere opi. at cock-crow I depart ; speak also iu sincerity, we deal not niers, the error of the Times is demoi sorated by experie in soft sawder in the spirit-world. Who are you? What ence, the most powerful of argument e In fact, i find since i do you want with me ? Oh. of Ex.—l am the Chancellor of h er Majesty's Exche that my ideas on thi s po i nt are precisely those of Adam ! Smith ; for we read in hie " Wealth of Nations" that the quer, , an office d otiirc t utta e r t . i i v i e ffi i cT . l — ty_ B a e n th d --, value of notes depends upon, not the quantity of gold C 4'. o (a f s E l s e, au sni.l a e k ri n e owing Y well the kindness of your in the country, but the amount of trades done by the h D i.' ' ' ears— . , . coun tar, If the -cireu stin g medium, whether gold or i sp. (impatiently).—Spirits have no hearts • confine your notes, lie to o sca rce , as at present, trai t s is at a dead lock ~ self to facts, and avoid metaphor. Feelings ' I possess—do front the want of that medium. If capital is too ahuu. i not trifle•with them. lent, whether nets, or g 1(1, then the eirculatiog medium Ch. a of Ex.—l humbly crave pardon. I was about to is idle, from the want pf trade. When the medium old and notes, i s t oo a b unt l ar t, the goal is ventured in fo• say that, being aware o f th e ki n dli ness o f your d i sposition, , I thought you might be willing to assist me in a difficulty which oppresses .me greatly, and I took the liberty of call reign epeculatione and the notes must lay idle, or be ~,everatd into gold for the same purpose. If their con-your version is an impeseibility, they then depreciate in value, . lug you from the region of shades to solicit a word of itt - valuable counsel. - not altogether because they ar e i nc inverti b le, for it the of such as you. hone trade w ere su dd en l y to improve they would lame- Ch. of. Ex .—I think I have a copy in my library of your diately be employed, and would be no longer dopreci tted; , invaluahle work on the Science of Figures. but because instead of, like a nnowball, multiplying its - Sp.—Don't attempt any deception. You: may possess a value by 'stimulation it is only useful to squander in copy of my great work, but it is clear you have never con goods or food for actual censamption. The difference of I suited it. It would have been more respectful had you done so bef ore di s t ur bi ng my repose. W hat i s it you value between notes whe n i ssue d i n accor d ance w i t h the ; requirements of trade and when too abundant is just the difference between a sack of wheat and a sack of flour to want Ch: 7 of Ex.—l was desirous, sir, of consulting you con cerning the " unreasoning impatience of taxation " on the con y farmer ; the one, ay cultivation, may increase a bun part of many who have raised an outcry against the con dredtold, the other is useless except for making into bread, tinuance of the property and income tax. arid if the quantity of flour is not more than is re- Sp. (angrily). —No such tax exists. Inked for actual consumption it is as vaaiable as wheat; Ch. of Ex.—Pardon me, respected shade of departed if flour is too abundant it depreciates its value. But is arithmetical accuracy, if I presume to question— there n o me di um b etween an extreme scarcity of cur- Sp. — Read me the title of the Act of Parliament. rency, like that which is supposed to exist at present, Ch. of Ex. (taking up ac t f rom table, reads).—" An Act and a eup er fli t it y , lik e t h at I ment i on ? Am I to be for granting to her M ajes ty Duties on Profits arising from presence Property, Pr o f ess i ons , T ra d es, and O ff i ces, unt i l, " Sec.* d from enj tyin g th e f res h a i r of heaven, which Sp.—A tax is granted to her Majesty upon certain pro is necessary to life, lest a hurricane should hurl me fits ,• certainly not upon property, as you ca l ewl know. pro down a precipice and dash me to pieces? Our merchants Ch. of Ex.—l stand corrected; but we cl it a pro sod manutacturere require a currency of some sort at a party and income tax. price.eur profits enable us to pay, not that we may enter I So.—l care not what you call it ; you may throw dust into foreign speculations, but to carry on our legitimate i in the public eyes, but you cannot in mine—spirits have trade. We eotnptain that money should increase so end- none. denly in price, n o t f rom any ex t ra d eman d , arising from Ch. of Ex.—B u t, s i r, " w h at ' s i n a name ? a rose, " you increased trade and increased profit., but simply because know, `Lb o y a anyother name will smell as sweet." of a temporaryscarcity of bullion in the Bank of Eogiand, name you Y will will , t i s t e e y t e i r a ta make your the tax sweet, call it by what which bullion is after all only a small fraction of the sir-public nostrils. But let that pa" e; only . wo will, ityou please, call it by its right culatino medium when we take bills, notes, and checks name ! , "I's Tax on Profits." into consideration. Besides, it does not follow because hof Ex --But is it not in fact &property tax ? there is a scarcity of gold in the Bank coffers that there Sp.—No, sir. Is your brein property. Is ingenuity is necessarily a scarcity of gold in England. This brings property ? Professional ekill, literary excellence, plodding me to the subject of my letter, which is te prove that the well oireeted industry, are these property ? Bank Act of 1844, whilst it is a source of incalculable Ch. of Ex.—No, air, not in a commercial sense; but we inconvenience and loss to every one except a few tax property also. bankers and money lenders, to whom it brings enormous . Sp.g-Yol . d e o, the l profits bartb arising as from property, but very p r g ep te e e r v t o y u grievous hardly i be profits at the expense of the smaller capitaliets and the tthrt•eerl trading coinrnunity generally, it is perfectly inoperative gingerly. You the u pr a o y fits of l a te lu ' s '.r a y a , vy but u touches them with one of its fingers. y for the sole purpose for which it was .framed-- e that, in Ch. of Ex.—Will you explein to me how the Property fact, it promotes the very evil it aff.cts to core, and and e n —I mean, tax on Profits doe , ' this ? when the evil is brought about it aggravated the cense- Sp.—Listen, then, and I will instruct you. The Income quencee. The principle of this Bank Act, as ydur Tax, as you call it, is a masterpiece of statecraft, originally readers are doubtless aware, ii that when from any invented by the late William Pitt; it is a contrivance of cause whatever there is a scarcity of, gold, not in the surpessing ingenuity for extracting the largest possible pro portion of money from the pockets . of the industriens and country generally, but in the Bank coffers, that scarcity is increased, as it may at any time be produced by a intelligent t ?resto t re of wealth, in order that a proportionate proportions:Ws withdrawal of notes, on•tae erroneous sup- °f weals in w u ea n l i tl y i ; n i o t n i t s a eoc t a uc ion may , be enjoyed b the possessors uponthe working bees of l e i h os e se so u cia r l position that notes are only valuable as long as they can hive for the relief of the drones. The deep ingenuity of be converted into gold on demand, and that when there the contrivance consists of two things ; first, the artfulness is an unusual quantity of gold, the excess is increased by which it deludes its victims into the belief that by a, proportionate increase of notes. Any one, by they are taxed equally or proportionately with other reflecting a moment, will see at once the enormous evils classes of society; and, secondly, the facility with, such an act must give rise to, particularly to the, met- which it extracts the money . inverse ratio of the from th e p oc k e t s of • cantile classes, ev il s w hi c h exper i ence hat demonstrated various clases in precisely th e too clearly. A supporter and admirer of the Bank ' Act amount of property poss esse d. I ts th ese respects .I can are it a bat whic y c to h of 1844 sa id to me the other day, " I agree with you d oa ay L as o 'n mp ftsting some southern clitravellers w whic rote of in h lightly fenne my l' that this act is very embarrassing, and causes great loss its wings a g sense of securit anreose to the m ercan t i l e commun i ty, a loss that was never the uncouscious into object soothin from whom it extracted' n full intended, and which every one must deplore, but some- stream the current of life. Wog met be done to check speculation, when specu- (The Chancelloreahibite signs of impatience and dissent.) lation is carried on to too grea t a n extent, and this, Sp. (continuing) —Do you pesssess the works of my dis it appears to me, the Bank Act does. The problem tingatshed cotemporary and present coadjutor, Adam you have to solve is, how is excessive speculations to be Sarah ? checked without us justly interfering with the legitimat e Ch. of Ex.—l have his works, and frequently consult operations of trade ? How can 3ou make money dearer them. Sp.—Then turn to the Fifth Book, p a rt 11., o f hi s to Vet gambler without ma ki ng it a ru i nous pr i ce to the prudent trad er ?" " Wealth of Nations," Under the head " Of Taxes," and The only advantag e w hi c h i s spo k en o f i n connection read what you find there written.Ch of Ex. (reading.)—l. " The subjects of every State with the Bank Act of 1844 is, that it checks 'peculation ought to contribute towards the support of the Govern when carried beyond a certain point. This I most em- meet, as nearly as possible, in proportion to their re• nhatically deny. li t assert most distinclly that the Bank spective abilities. The expense wf Government to the in- Act promotes speculation, and aggravates and some- dividuals of a nation is like the expense of management to turtles creates the irjurious consequences attending spa- the joint tenants of a great estat e , w h o are all obli ge d t o culation. The Bank Act may be 'retrib u ti ve i n its ac- contribute in proportion to their respective interests in the estate. In the observation or neglect of this maxim con lists, the certainly is not preventive. The lac eat capita. sists what is called the equality or inequality of taxation." lists, the bill discounters, and the Bank directors are interested in bringing about a scarcity of capital. Thie. Sp.—Very good. Now answer me. Is your tax on pro fits levied iu accordance with the equitable and politic by playing into each other's hands, and u s i n g the dictum of Adam Smith? Rink Act of 1844, can he easily managed. The Ch. of Ex.—We, that is, my respected predecessors and Bank directors, when money is plentiful, snake myselfeheve anxiously considered the subject, with the it a glut as in 1852, when it could only fetch 2 per cent., view of rendering the operation of the tax as equitable as and when the smaller capitalists whom the leviathans possible, and finding the subject surrounded with difficul are anxious t o d evour are embarrassed to knew how to ties, we—aheue— get a • reasonable percentaae for their money the Sp. (interrupting) —Shirked it upon the House of Com- Baringe, the Hopes, R ot h sc h ilds, &e. throw on the liwns* market, f ore i gn l oans, Russian railways, &c., &c,, not Ch. of Ex.—ln one sen s e w e did so ; th a t i s t o say, we with any moved the appeintment of a select co mm i t t ee o f th a t idea that th ey w ill b e profitable investments out siustely for th e purpose of emp l oy i ng or rather sink'. Fiououtable House; which resulted irk— ing the capital of their smaller rivals, making money. Sp.—l know; a blue book, and an outlay of I,oooa, in scarce and dear as at the present time, arid then reaping Printing. Ch. otEx.—The Committee reported the evidence, and the reward of their pious labours. The tears of the that it was extremely difficult, indeed impossible, to levy impoverished widow are nectar to the money lender, : the tax more equitably. the lon g cry o f rutned families is music to their ears. Sp. (with indignation)=l'llsimplify the matter for them The bank dirgctors and money lenders calculate their before I have done with it. profits as they con era plat e m ill s stend i Ch. of Ex —I must adMit, sir, that the ta x i s no t s t r i c tly t when th ere 'i s a demand for goods andng idle operas a property tax; but how dp you prove that the burthen tires starving when there is abundance of work falls in the inverse ratio of equity and fairness ? his,l r B4 4. I think,t hin,Rlandaiv'Pead‘seimmOant:tvraie:do t t b t a li t e Bank Act of of my Rudiments of Arithmetic. sir, is Sp.—l shall make you prove that. Get me down, a copy the very evil it affects to cure ;it pretends to check OlLo(i.fyEouxi: It promotes volume)—Here, is a (producingi invaluable speculation, when in fact it drives people to s l copy ' 'll y • lblt t . " indeed ; pecu ate, Bp. (iarcastica. y)— es,'nye ua e rea use and then, by suddenly increasing the value of money,lc ' the ` dust upon the cover. you may wOl a sum In u , really brings ruin to hivetreatise. a dusty etrnents which, with money at Ch. of Ex.—l must plead guilty of neglect of the science the real market value, might have been profitable. Lord which derived additional lastre from your --a-- Overatone was the chief adviser, it is thought, of Sir R. Sp. (interruptingleepatiently)—Cau you find the pre. peel, when the Bank Act of 1844 was framed, and we sent-value of an annual sum ? may imagine when we remember how he was instru• Ch. of Ex.—l think I can, aided by your useful manual. mental in filching from the mercantile community the Sp.—Then find me th e p resen t va l ue o f 1501. per annum bill toe House of Commons pa sse d f ur their benefit— for three years; int eres t a t 4/. p er ceu t.T limiting the liability of partners to d(The Chancell or o f th e E xc h equer wor k s l a b or i ous l y, the amount o f money vebile Shae of they bad invested in a concern —with wh a t s i ncerity he arithmetic d of courCseocker arrives at the result, by ment a l wishes to check speculation without interfering with ' Ch. of Ex.—l make it 41(;l. the legitimate operation of trade ; for he has given to Sp.—That is right, nearly. Now sit down and find me bubble companies the privilege which is denied to bona also th e p resent values of 1501. per annum, for 5,7, 10, 15, fide and established trade. — Yours, &c., 20,23,30, and 50 years, and in perpetuity; and place the C. W. S. values, when found, in tabular juxtaposition. Ch. of Ex. (after considerable pause).—llere are the re sults, sir, iu a tabulated form. THE PRESENT, OR PROPERTY VALUES Or £l5O PER ANNUM POR IHE PERIODS UNDERHENTTrn,-- ACTION FOR COMPENSATION FOR RAILWAY INJURY. In the Court of Session at Elinburgh a case was tried on b il . londay last, the in n w h h i ic ze h gi b n l je r n . t, W pr i e ll s i e a n m tly A ci l u e a x r a t n er d ;d r D _ o_ie, ensign in inth a e n r v en ' was Aberdeen, Aberdeenaadt c h a e as Railway tried before f oe were pursuer, defenders. Thu se w the Lord P res id ent an d a j ury upon the f o ll ow i ng i ssue: — r colp "It being admitted that, on the 27th of July, 1855, and at or near Cove station on the defenders line of railway, one of the ordinary passenger trains on the said line came into collision with an excursion train, then standing at or near the said station, in consequence of wlich the pursuer (a pas-eoger by the raid excursion train) sustained a fracture of both bones of the left leg immediately below the knee, and a severe contusion upon the knee and other parts of the left leg. " Wh e th er the said collision occurred' through the fault of the defenders, to . the loss and datnage of the pursuer ?" Damages were laid at 2,0001. At the outset the Dean of Faculty said the company made no question as to their being responsible for the whole consequences of the injury which the pursuer bad sustained, and therefore the question of damages was the only one the jury bad to consider. The jury returned a verdict for the pursuer with 9501. damages. The decision, we believe, will carry costs. Yrs. I Yrs. • Yr • ° 3. ) s s. I Ye 2 al. e2a3r 30 I 50 lin Per Years. Years petulty. 1 - £ I -X /XI XIX 4t6 667, 900 1216 1667 2018 2228 X I £ 3222 3750 agth s glY l )--Srellswe " n e a f Sou have f oun d ar e the property questions. vai, S lu p e . s ( uoenfci°sOtlie sums per annum ? Ch. of Ex.—Yes ; the amount which would be realised in the market. Sp.—Exactly; whether realised by actual eale or found by calculation, the sums you have given represent the property values Ch. of Ex.—Yes; the property value of 1501. per annum for throe years is 4161., and for 15 year the value is 1,1367 i. and in perpetuity it is worth 3,750 1 . Sp. (angrily)—Aud yet you levy on all three the same the possessors. notwithstanding the difference in valu e t o Cu. of Ex.—How so ? annum?Bp Sp.—What tax do you levy on an income of 1 50 1 . per Ch. of Ex.— 101., being Is. 4d. in tle pound. Sp.—Just so. You make a property worth 4161. pay 101., and another worth 1,6671. pay 131., and another worth 3,7501. pay 101. Is this what you call equitable taxation ? Can you work a common proportion ? Ch. of Ex.—Yes. Sp.—Then furnish me with the results of the following proportions : The Chambers of Hesse Darmstadt assembled on the 18th. Iu the &coed Caanaber six candi dates for the presidency, to be presented to the Grand Duke, were selected. HOLIDAYS IN THE CHANCERY OFFICES —The Regis. t raßecord, Affidavit, and Master.' Offices, as a l so th e chambers of the ors Master of t h e Itoils, and the will be closed from this day r s e r until Wednearlay i n n ce Vice-Cha ll next week, If £416 pays £lO, what is that per cent. ? If £467 pays £lO, what is that per cent. ? If £9OO pays £lO, what is that percent. ? If £1,216 pays £lO, what is that per cent. ? If £1,657 pays £lO, what is that per cent. ? If £2,03-; pays £lO, what is that per cent. ? If £2,228 pays £lO, what is that per cent. ? If £2,59: pays £lO, what is that per cent. ? If £3,222 p a y s £lO, w h a t i s th a t per cent' ° lf £3,750 pays £lO, what is that per cent. ? Ch. of Ea. (having worked out proportions) —Here aro the several results : THE NEW BISHOP OF RIPON.—Th e conf i rmation of the Rev. Dr. Bickersteth to the see of Rip on w il l take place on Saturday, January 17, and the consecration on Sun day, the 11th. It is not yet settled whether the con firmation will be in London (St. James's) or at York 2 a. d. A with £416 pays at the rate of 2 8 0 per cent. 13 with .2667 pays at the rate of 1 9 11 per cent. C with £9OO pays at the rate of 1 2 2 per coat; D with £ 1 ,216 pays at the rate of 0 16 5 p er cen t. 13 with £ 1 ,667 pays at the rate of 0 1 t 11 p er cen t. F with £2.038 pays at the rate of 0 9 9 per cent. G with £2,228 pays at the rate of 0 8 11 per cont. 11 with £2,593 pays at the rate of 0 7 8 per cent. I with £3,222 pays at the rate of 0 6 2 per cent. Swith £ 3 ,750 pays a t th e ra t e o f 0 5 4 p er cen t. : — " v sir, yon see the operation of your tfts. Pro. Minster. The Weiner Zeitung states that there was "public mour "at Odessa during two days for the late Prince Wor“oznff. A letter from Bucharest announces that the Caimacans have received orders to convoke the divans ad hoc. The palace of the Caiinaosn at that place was being arranged f it the a' t ngs of the inte”nati , mal commission. THE Dn.CORATION FIIOII THE QUEEN TO THE YOUNG PRINCE OF PRUSSIA.— We have once or twice referred to the intended journey of Sir Colin Campbell to Berlin, for the purpose of presenting the young Prince of Prussia with the Order of the Garter from the queen of England. Considering that the young Prince is on the eve of becoming her Majesty's son-in-law, it is all natural and proper enough that she should pay attentions to him ; but surely a more fitting time might have been chosen for the purpose than the very moment at which Prussia is thrfatening an invasion of the territories of Switzer land, as a preliminary step towards the annihilation of her .free institutions. This is the opinion universally entertained amon g b er M a j esty ' s su bj ec ts, and we are only doing our duty in apprising her of the fact.--- Morning Advertiser. *5 l' The arithmetical dr 6 Vict., ca p . 35. represent term " present value" is employed to down b the property value or amoun t w hi c h wou ld b e pa id y a purchaser for any sum to be received at a futura period or periods, so as to recoup the purchaser the princi pal, with interest at a given rate. In commercial language, it is the discounted value of a future payment or payments. Thus 1001. to be received at the end of a year is worth now I , 'ol.,miuus the interest of WO/. In like manner,the value ofan annuity of 1001. for three years' interest is 1001., minus one year's interest, added to 1001., minus two years' interest, added to 1001., minus three years' interest; or, in other words, the amount of three sums of 1001. discounted respec tively for one, two, and three years. As compound interest is always charged and allowed in such calculations, the find ing of the exact present value of an annual sum by common arithmetic is at best a tedious process, never resorted to. The process, by logarithms, is greatly simplified ; but all calcula tions of the kind are almost entirely obviated by the use of Tables of the present value of 11. per annum, constructed by John Smart, formerly of the Chamberlain's -office London, which Tables are to be found i n a ll standard work's treating of compound interest. By the mere multiplication of any fraction, found in the tables, into the annuity, the result is almost instantaneously found. Thus, if the value of 1 50/, per annum for three years is required, interest at 41. per cent., per annum,piy e 2 h a l l f i r arl which, t the being tables multipliedi ve as intothe 1 v ale gives e 1 51 .4 ss. as the result. This mode of finding present values lies at the base of all calculations for the purchase and sale of freehold and lease hold estates, annuities for terms of years, &c. The Tables 161. in the Legacy Duty and Succession Duty Acts, for deter ix fiudiDg values for oth er fi sca l pur. mining valuesat de a th, are d er i ve d f rom th e same data, which could be equally appli e d poses. THE LATE FATHER MATHEW AND THE PUKE OF WELLINGTON.—The following story shows the great influence exerted by Father Alathew over the highest as well ss the humblest of the sonu of Erin. In 1847 the leader of one of the temperanc e bands in Cork en listed in the army. He was the chief support of an aged mother, his wife, aed six children. The amiable Father Mathew applied to the colonel of the regiment in vain for his di-charge. Being disappoin te d, he wrote, con trary to the advice of his friends, to the commander of tee forces, who by return of post sent an Autograph letter asiollows Field Marshal the Duke of Wel lington resents his compliments to the Very Rev. Mr. Mathew. He could not refuse his application, and has directed the discharge of the soldier he desired." 1 ' Sp.—A Property Tax. Ch. of Ex.--But have you not demonstrated the diffi culty of levying such a tax fairly ?, Sp.—Not at all. I required you to demonstrate that your In some Tax was, in one sense a Proper ty Tax; not an equal tax on the value of property, but a graduated sliding scale Property Tax, the gradation of the taxation being in a ratio inverse to the amount of the property. Confound ing the produce of skill and labour with the interest aris ing from realised property, and then ignoring all those differences in the value of property arising from the dura tion of the income taxed, I oesleavoured to convince you that your tax was a masterpiece of inju s ti ce . Wh at I now propose as a proper t y t ax is a very different thing ; by that term I mean an equal tax on the value of all realizable property in the country, so that if 1001. shall pay U., then 1,0001, will pay 101., and 10,1.001. will pay 103/. This tax being levied upon fair principles, there could be no diffi culty in making all contribute • whereas y ou now exempt a large prop or ti on o f th e property of the country, viz , that which belongs to owners of property up to about 3,0031. in value —while you inflict the tax in its most oppres sive form upon men living by labour of h an d or b ra i n, and who hav e no t 101. worth of property in the world. Ch. of Ex.—But such a tax will drive property from the country. Sp.—lt cannot drive away the land, or houses, or facto ries, or funds, or mines, or railways; such fears are alto gether delusive. Let me ask, however, have you no fears lest British industry, skill, and enterprise should seek more congenial treatment than they receive under your paternal management ? What would be the value of land, where would the wealth Of Bogland be, or how would you raise your taxes, if British skill and enterprise should make themselves wings and fly away ? Ch. of Ex.—But could the property of the country sup port the burthen ? Sp.—First tell me what is the estimated value of the property in Great Britain ? Ch. of Ex.—lt has been estimated by the best statists to he worth 5,000 millions. Sp. It is more than that, as your Interns Tax returns demonstrate; but I will assume that your figures are cor rect. Now tell me, what is the average annual charge on the country for national purposes ? Ch. of Ex.—Say,ie time of peace, about '0 millions.t Sp. (sharply) —Then 5,000 millions cannot pay 50 mil lions, or, in other words, 5,0001. cannot bear the burthen of 501. annually? Why, if all the existing taxes were swept away to-morrow, a Property Tax would produce easily all the revenue of the country. It is, however, some 10 millions at the most that you aro called upon to supply, now that the war is over; and you aro bold enough to tell mo that 5,00) millions cannot pay 10 millions, or, in other words, that a tax of 4s. on the 1001. in value would be an intolerable and insupportable burthen on property. You might just as well try to convince me that Moneygrub and Millionnaire, of Lombard-street, are unable to pay their police rate. The simple truth is, you delude yourself about the excessive pressure of taxation on property, where , :s property has never yet felt the strain. Your taxes oppress not so much because they are excessive, as because they bear unequally, and where there is not strength to support their weight. You set, so to speak, a pony to draw a laden waggon, and you yoke a team of cart horses to a child's perambulator. From the man who maintains, as I did when in this world, a constant struggle for life and its common necessaries, you wring (after taxing everything which he eats, drinks, and uses) some 151., 20'., or 3017, which is the very life-blood, bone, and sinew of himself and family; adding mockery to injury, by offering him a receipt for Property T ax . Y ou t h ou co l lect from those who enjoy every comfort and luxury, with money to spare for every form of indulgence, an amount insignificant in pro portion to their property, and which does not trench upon the use or enjoyment of a single superfluity. To revert to the proportionate values again. Each of the properties I have referred to pays 101. annually for Income Tax, so *that— A with £416 pays 1-41st of his property. with .667 pays 1-66th of his property. C with £9O pays 1-90th of his property. kith £1,216 pays 1-121st of his property. B with £1,667 pays 1-166th of his property. with £2,038 pays 1.203 d of his property. G with £2,228 pays 1 222,1 of his property. H with £2,593 pays 1-259th of his property. I with £3,222 pays 1-32 'd of his property. K with £3,750 pays 1.375 th of his property. (Spirit-continuing with dignity, and rising into the style of the late Sir R. Peel.) Thus, sir, by a simple appeal to the invaluable science which I left for the guidance of an attentive world, I have shown to you that your income tax is, in fact, a graduated property tax—the gradation of the scale of taxation proceeding in the in verse ratio of fairness, sound policy, and ability to sustain the burthen. From neglect of that science with which my name is imperishably associated this evil has ari,en, and has been perpetuated ; and terrible has been the punishment which retributive justice has inflicted on the i d e e g ge d n i e se ra ip t l e es s . ons ß o y f e th e o i s te e p w le bo r w et e u r r e e m t y e pupils, ils slu a d n y of t and s sublime rule of proportion, the tax on incomes ma y b e re pealed, and a tax on property, valued as property, may be introduced. Time warns me that I must be brief, for at cock-crowing our interview must terminate. There are two courses open to you; either repeal this to- on profits at once and for ever, and substitute a bona fide, ad valorem, Property tax and go down to posterity—which means come to us in the spirit '.vorld—"readingyour history in a" grateful " nation's eyes ;"' or persist in the tax as at present' levied (to palter with or tinker it is nseles9, and be swept out of office by the swelling flood of indignant intelligence which is rising hourly in the breast of the British people. (The Chancellor displays emotion.) Tell that people from me that there are three things which I wish them to attend to---1. Education ;2, Competitive examination; 3. Book keeping. Ch. of Ex. (with cheerfujaspect)—Ah ! these are points which I have invariably urged on the Cabinet and advo cated in the house • attention t o th e e d ucat i on of the masses, and competitive examination as the basis of ad mission to clerkships in our public-- Sp.— Hold. You misinterpret my meaning. Ido not now allu le to the masses or to the clerks. Let us beginfat the head and not at the foot of the scale; it will be time to consider the clerks when their betters are attended to. I wish you to communicate to the British people my de• sire that they should attend more to the education of their representatives and head officials ; let these, before selec tion, be put through a course of simple arithmetic, in cluding the first four rules, Proportion, and especially Re duction—a rule of which they appear to be lamentably ignorant; let them be required to repeat by rotemy dia logue on the income tax before taking upon them their official duties; a slight examination in English history and the principles of English law may also be superadded. Lastly, for my minutes are numbered, let the British people see to it that the receipt and expenditure of the na tion are stated clearly, explicitly, and in detail, according to the rules laid down in my Elementary Treatise on and published annually, before further sup- Book-keeping, plies are asked for. (The cock crows, the Shade of Cocker melts shay ; the * Amongst other financial paradoxes resulting from the working of the existing system is the following :—lf a person annum, Thus, A has 3,3u0 Consols, he ther e f ore esca p es has 3,30, Consols and purchases 341. in addition, he is, by w the i transaction,ehp oduce le a s s thanloser 1251.0 1 f 001.er taxation, paying nil, He purchases 341. Consols, making a total of 3,3341., which gives an income of 1001. a year, and renders him liable to a reduction of 116 d in the pound=4/. 15s 10d; if the tax is made permanent, this is equal to a capital of 1591., so that he gains 34/.; and loses 159/, in pre sent value or is iu a worse position by 1251. 'F Omitting Post-office, Crown Lands, &c, Present Proprtion Value of mount of Rate per of t rop .rty Years. £I3O ler Ta , t levied Cent. of paid Annum. Annually. Taxation. Annually. £ £ .£ s. d. 3 416 10 2 II 0 1.415 t 5 657 10 1 Sll 1-66th 7 900 10 1 2 2 1-90:h 10 1,216 10 0,16 ?, 1-121st 15 - 1,667 'lO 011 11 1-166th 20 2,038 30. 0 9 9 1.20:3d 23 2,228 10 0 811 1.22A1 15 2,343 10 0 8 6 1-234th 30 2,593 10 0 7 8 1-259th 40 2,968 10 0 6 8 1-296th 50 - 3,222 ' 10 . 0 6 2 1-322 , 1 60 .3,393 10 0 510 1-331 th 70 3,503 10 0 5 .8' • 1-350th 80 3,587 10 0 5 ,G, , 1-358th 90 3,640 10 0 5 5 'l-361th Perpetuity :3,750 10 0 5 4 1-375th Explanation of Table. —An income certain of 1501. for fifteen years is worth 1,f47/.. and paying 10/. Income Tax is taxed at the rate of lls. ad. per cent. on the present value, being 1-66th part of the property. A similar in own° in perpetuity (say in the Funds) is worth 3,7501., it is taxed at ss. 4d. per cent., being 1-375th part of the value. g,bt seated at his bureau, .t a wiser mau.) 32. varioug Perio.la ear ach are Taxed. TABLE 11. Present VAues of Precarious Incomes, enjoyed either for Lifo or during Capacity for Labour, at various Ages. Calculated at 5/. per cent., Carlisle rate of mortality. Prevent Present , mount Rate per Value of Rate per Value of of rax cent. t f Tax £l5O per ?ent. of Tax Age. £l5l per levied Annually Annum Annually Annum Annually. during Life. during during far Life. Capacity. Capacity. - -- . £ £ 2e. d. £ 2s. d. 20 2,372 10 08 5 2,295 08 8 25 2,995 10 08 8 2,208 09 0 30 2,203 10 09 0 2,119 09 5 35 '2,119 10 '0 .9 5 2,008 0 911 40 2,003 10 0 911 1,897 010 6 45 1,897 10 010 6 1.749 011 5 50 1,749 10 011 5 • 1,552 t_.! 12 10 55 1,5'2 10 012 10 1,311 014 11 60 1,341 10 014 11 1,161 017 2 65 1,161. 10 017 2 950 11 0 70 950 10 1 1 0 748 1 6 8 75 743 10 1 6 s 602 113 2 80 602 10 113 2 4bl '2 1 7 85 4B l 10 2 1 7 35' 216 11 Explanation of Table.—The life income of 15U/. of a per son aged 60 is worth 1,3111., and he is taxed on that value at the rate of 14s. Ild. per cent. As, however, men ,are generally incapacitated for active exertion before death, a column has been added, with the value of incomes at various ages, determinable at five year s before 'death (which period is assumed as the average period of incapa city); the income of the same person, aged 6., will, ulna this assumption, be worth 1,1611., nod he will. be taxed at the rata of 17s. 2 , 1. •per cent. ; a similar income in the Fundi (dee Table I ) is taxed at ss. 4d. per cent. By the above Tables I. and IL the values of incomes for periods certain, and also of pi - cc:l4l°w; .incomes, may be approximately ascertained, and the effecti of the Income Tax upon them may be contrasted. aarai and Itliiimry inteagence. SHEE RN ESS— WEDNESDAY. This morning between the h , nrs'of two and three, the general quarterly muster o f a ll t h e h an d s employed in this dockyard wai held in the presence of J. Brown, Esq., master attendant (in the absence, by illness, of Captain Superintendent John Jervis Tucker), after which the whole of the men repaired to their respective homes to erj•,y good Christmas fare. Hermes, 6, paddle sloop, Commander Gord on , h au l e d out of the basin this morning, and proceeded on a short trial trip, and returned abut noon. She will proceed up to the coal hulk to fiil up. The Cape of Good Hope is now generally spoken of, both aboard and on shore, as her future port of destination. Mayflower, gun-boat, al..° hauled out of the basin tbis morning, having had her detects (nachiner3) made good. Hawke, GO, sere w guard ship, Captain James %Video; has got her lower and top masts on end, and has hauled into No. 3 dry duck; her marines and bays joined her yesterday. Melairipu9, 40, coast guard ship, Clptam Leopold J. Heath, C. 8., has also got her marine. and bo3-s. Terrible, 21, paddle frigate, will haul into No. 3 dry dock when the Hawke conies out, as one bow is tuund in a very defective and rotten eta e. Carl, Swedish schooner, Sardelius, master, left for Oram this morning ear:y.. Charlotte Caroline, 226 tons, C. D. Stn.:lon:an, inaster, with a general cargo of timber for this yard from Dant hau!ed into the basin at ten a in. She will elm mence discharging immediately. PORTS MOUT EI - WEDNESDAY. Oberon, 3, paddle, Lieutenant-Commander J. M. Jackson, has arrived at Pembroke. Pembroke, 60, screw block ship, Captain Fraser, went t.hrough Spitbead this morning, to prove Milers and machinery, and returned into harbour to fill up with Yesterday the lads belonging to the Victory and Illustrious got leave of absence to visit their relatives and friend.. Nearly 500 of these healthy and well disciplined bays, with their kits, passed through Queen. street, looking happy, and their faces bearing the brightest health, giving fair promise, when called .upon, that they were equal to any ou:y. DEVONPO RT-TUESDAY. Captain Prevost, of the Satellite, returned fram leave on Monday night, and joined the ship, and sailed this aftfqmoon for South America. Londoi:, 90, tval brought alongside the dockyard t'- day, preparatory to her being taken into dock to be fitted wish a F crow. In the Sound.—James Watt and Implacable. In Harbour.—lt yal William , Impre4unble, Ajax, Cambridge, Cornwallis, Indu , , Eagle, Mfoander, Sylph, Shamrock, Avons Nautilus, Confia,ocs, Z phyr, lighter; and Peiki-Kaler, Turk6h liner. A gunner belonging to the field batteries of the R ,yal Artillery at Wool.vich, recently discharged from the sick list, yeAterday morning underwent corporal punishment, adjudged him by court-martial, for having stolen a sove reign from a comrade in one of the wards of the hospital. The prisoner was brought into the riding-school in the usual manner at half-past 8, where, the sentence of toe court martial having been read by the adjutant on duty, he was pinioned to the triaiigle and r.ceived the first portion of his sentence—nainzly, 50 lashes. He is to be subjected to 84 , 'ays' confinement with bard lab .ur in Coldbath-field prison, and finally to be dismiised the service. . Lieutenant Cummander Pike, of her Majesty's ship Antelope, having engaged the whole of his crew, is or dered to be in readiness for sea on the 3thh inst. His instructions are to join the Trident and Pluto on the Wes., Coast of Africa. The Antelope's complement con sists of Lieutenant Pike in command, Mr. D'Arcey A. Denney, and Mr. Denistoun, mate ; Mr. Pearce, second master ; Mr. W. H. Carter, assistant surgeon ; Mr. H. Pengelly, assistant paymaster ; Mr. Jackson, master's assistant ; four engineers, one warrant officer, and 53 men and boys. Her equipment —one pivot-gun, two broadside 32 pounders, and two howitzer guns fur paddle boz boats. SERIOUS CASE UP ABDUCTION. CARLOW, Dec. 23.—At the petty sessions of this town three men were brought up charged with having carried off a young woman named Catherine Hurihare from her parents under extraordinary circumstances. The case excited the greatest interest in the town and neighbour hood, as during the investigation the court was crowded to excess by persons of both sexes ; as usual, the fair sex preponderated. Indeed the bench appeared to take no less deep interest in the proceedings, as no less tha❑ 12 magistrates were present. Since the attempted abduc tian of Miss Arbuthnot by Mr. Carden the people of this country have not heard of so systematic and well ar ranged a plan for carrying off a female, although in the present case the parties move in the humbler walks of life. Mr. Butler, sessional prosecutor, attended on the part of the Crown. The parties accused, who were un defended, were Thomas Dunne, James Keefe, arid John Burt.. Mr. Butler having stated the facts of the case, which will be found detailed in the evidence, and re ferred to the statute which bore on the case, proceeded to call the witnesses. Catherine klurihan, an interesting young girl of some 18 summers, was the first witness examined. She stated that on Saturday morning last, about G o'clock, she was proceeding to Carlow in a donkey-cart, accompanied by her mother and grandmother. When a short distance from this town her attention was arrested by observing a covered car secreted under a railway bridge, near which were three men. On coming near to the vehicle the plisoner Dunne, who was a servant in her father's employment, approached and dragged her off the car. In his efforts to do so she pulled her grandmother along with her. She screamed for help, hat her parents being overpowered by the . other men, they were unable to give any assistance. Dunne being unable to force her into the car was assisted by a person whose name she did not know. When flung into the car Dunne followed her, closing the door behind him, whereupon Keefe drove off as fast as he could, the third person holding back her mother and grandmother. She remained insensible un til they arrived in Atby, a distance of 10 miles. Her clothes were much torn and injured in the struggle. When they drove into Stradbelly, three miles from Atby, Dunne and the car driver, Keefe, partook of some breakfast, but she refused. Dunne, on her recovering her self-possessio n , f requent l y asked her to marry him, but she declined indignantly to comply with his request. In answer to the bench the witness said it was against her will and desire that she was then dragged away from her friends and home. The prisoner Dunne here remarked that the witness had creed on Friday night to elope, with him. The prosecutrix repudiated the statement. Mary Hurihan, mother of the last witness, corrobo rated the testimony of her daughter ; in her information she swore that John Burn was the third person engaged in the attack, but she believed that she was mistaken as to his identity. With reference to Keefe, the car-driver, she positively swore that he added and assisted Dunne in forcing her daughter into the covered car. Mr. Butler said that of course the prosecution against Burn should be abandoned. The Magistrates ordered informations to be taken against Dunne and Keefe to stand their triad at the March assizes, and refused to accept bail for their ap, pearance. Chancellor is discovered at daylq a trace of sadness on his bro v, bll TABLE The Present Valw of Incomes f. tail), and Rates at which ( UNITED STADES DEPARTMENTAL 1f E?OIiT. S. As is usual at the opening of the United States Congress the several heads of departments have presented their annual reports. Those of the Postmaster-General, Secretary 'of the Interior, and Secretary of the Navy have been published. We give below a digest of as much of their contents as is interesting to the English reader : POSTMASTER GENERAL'S REPORT. Since the last annul report, the post-offices have been increased 1,155, and numbered on 39th of June last 25,565. On the 30th of June last there were in operation 7,972 Mail routes. The length of these routes is estimated at 239,642 miles, divided as follows, viz. :-20,323 miles of railroad; 14,951 miles of steam-boat; 50,453 miles of coach; 153,915 miles of inferior grades. The total annual trausportation of m a il s w a s 71,307,897 miles, cost ing 6,035,474 dols., reed divided as follows 21,809,296 miles by railroad at 2,316,389 dols.— about ten cents and six mills a mile. 4,240,170 miles by steam-boat, at 860,755 dols.—about twenty cents. and three mills a mile. 19,114,991 miles by coach at 1,329,356 dols.—about seven cents a mile. 26,143,440 miles by modes not spe cified at 1,534,974 dols.-5i cents per mile. Com pared with the service of June 31 ,1 8 55; t h ere i s an addition of 11,734 miles to the length of mail routes; 3,906,731 miles to the total annual tra,nsporte tion—heing about 5 8-10 per cent., and of 690,236 dols. tti the cost, or 12 4-10 per cent. The aggre gate length of railroad routes has been increased 1,990 miles, and the annual transportation thereon 2,606,827 miles—about 131 per cent., at a cost of 237,300 dols., or 11 4-10 per cent. The Postmaster-General renews his complai nt of the large amount paid to the Panama lasi/road, amounting for the la s t fi sca l y ea r to 141,303 d o l s , and for th e first quarter of the current fiscal year to 44,308 dollars. He recommends an act limit ing the amount to be paid for that service to 50,000 dols., and an appropriatiqn of 200,000 dole. towards a semi-monthly mail, via Nicaragua and Tehuarrepec, giving, with the Panama route, a weekly mail to California. The total expense of the department for the last fiscal dear was 10,405,286 dols. The entire re venue, including the annual amount of 700,000 dols. for mail service rendered the government, was 7,620,821 dols., showing a deficit of 2,787,046 dols., which considerably exceeds the average • of the pre• ceding three years. The exesiuditure for the current year is estimated at 10,653,678 dols. ; the revenue at 9,991,794 duls. The abolition of the franking privilege'is urged, or else that the d e p artment b e allowed to charge the government the ordinary rates on franked matter ; also the abolition of the 50 per cent. deduction . on the postage of periodi c al s paid_ in advance. With these changes, and the relief of the department from the burden of the ocean mail service,. • the Postmaster-General thinks that his department would support itself. In reference to postal communication with Great Britain and Canada the Postmaster-General says : —" A proposition has been received from tLe British Pest-office for a reduction of the ptsaeg c between the United States and Great Britain, from 24 to 12 cents the single letter. In answer, this department has indicated a willingness to accede to this proposal, provided the transit charge on mails passing through England from and to the United States is reduced to 121 cents an ounce, the price paid by that Government for the con veyance of the British and Canada mails through the United States. This department has been for years endeavouring to have an abatement made in this transit charge, which is considered excessive, and in the present instance the condition was rea dered Inecessary, inasmuch as a reduction on the United States and British correspondence will in volve also a feduction of the sea postage on the United States and continental closed mails, the effect of which would be greatly to reduce the receipts from the United States mail steamship line-e unless there is a corresponding reduction in the Bri tish transit tax; so that by fewer rates correspon dence would be increased sufficiently to prevent bas, So far as Great Britain is concerned, in the event of reduction simply in the Atlantic postage, it is not likely that sho would suffer any serious diminution ef her postal revenues, since she would doubtless be compensated for any loss on that account by the increased amount of transit postage she would rea lise under such an arrangement. This condition was, however, coupled with an offer on the part of ' this department to have the transit price for all closed mails in both countries fixed at the uniform rate of 12i cents an ounce—a concession which would secure to the British and California and West ludia closed mails the right of transit in some cases at one half, and in others at only one quarter the price now charged under the treaty. I was the more ready to mate this concession, firs', becau s e I regard it of the highest importance that the cor respondence between this coimtry and Europe should be relieved from the onerous tax to which it is now subjected, in order that the people on both sides of the Atlantic, in their social and busi ness intercourse, may be as little trammelled as possible ; and, second, because it is likewise very desirable, as well in foreigraas in domestic postal arrangements, that simplicity and uniformity should be observed. " Arrangements have been made between this department mud the postal authorities of Great Britain and C.lnada,, providing for the registration of valuable letters transmitted between those coun tries and the United S ates. The United States registration fee is five cents, the same •as on re gistkred letters destined to any place in this country." The aggregate amount of postage, foreign and domestic, on mails transported by the United Statcs mail steam ship lines was $1,035,740 33c., which is a decrease of $24,890 40c. from the previous year. The decrease of postages by the Collins line was $43,117 86c. ; by the B.avre line, $503 41c. ; and by the Charleston and Ilavannah line, $545 61c. By the Bremen line the post ages w er e increased $12,593 77c. ; by the New York and California lines, $5,370 92c. ; and by the New Orleans and Vera Cruz line, $3ll 89c. The total amount of letter postages on British mails during the year was $897,643 70c., King a decrease from last year of $92,048 74c. Of this amount, $601,031 40c. were collected in the United States and $296,617 30c. in Great Britain, showing an excess of $304,41410c. collected in this country. The unpaid received from• Great Britain exceeded the paid received $154,454 94c. and the paid sent from the United States exceeded the unpaid sent $148,959 16c. The amount of foreign correspondence bas not only fallen off very considerably, but the revenue derived therefrom to the United States Post-office has likewise been materially lessened by the largely increased collections made in this country, as com pared with any previous year. During the year ending 30th J une, 1855, the excise of British pos tages collected by the United States over the total amount of the United States postages collected by Great Britain, was 64,820 dols. 64c. This excess during the last fiscal year was increased to 84,530 dols. 83c., notwithstanding the diminished amount of correspondence. SECRETARY OF THE INTERIOR'S REPORT. The Secretary of the Interior states that, not-. withstanding the Indian difficulties and other dis turbances in several of the territories, the surveys of the public lands have progressed rapidly. The quantity of land surveyed, exclusive of school sections, since last report, and up to the 30th of September last, was 16,873,699 acres, much of which is now ready for market. The grants made by Congress, at its last session, for railroad pur poses, have had the effect of withdrawing from market a large body of the public lands, which, notwithstanding every exertion that can be made, cannot be restored in less than nine months, and perhaps not then, as it depends in a great degree upon the action of the states to which the grants were made, and in many cases the legislation of those states. The quantity of land sold for cub, during Acres. the last fiscal year was 9,227,818.98 Received therefor §8,821,414 53c. Located with military scrip and land war. • 8,382,480.00 • 6,066,874.39 rants Swamp lands approved to the states Selected under:donations for railroads, &0. , and granted for railroad purposes (esti mated) ....... 15 ,680,875 00 Making a total of .... ... 3 The land system, under th e l egislative enact mentsCB,loB.3l 32 of the last four years, and by th e a ctive me asures taken to meet d emands for settlement, has been extended, with entire success and unpre cedented rapidity, along the w h o l e p ac ifi c s lope, embracing the State of California , the Territories of Oregon and Washington, a n d. i n to the Terri tories of Kansas, Nebraska, New and the Mexico, and Utah. This imm ense geographical surface ha s been organised into si x new surveyi ng departments, and the public sur veys are in rapid extens i on over Surveying operation s i n the new old it. dis tricts have, i n t h e same period, been ex tended over an area of nearly 60,000,000 a cres, in which the lines have b een run and esta blished. _ Duting this p er i o d , a l so , there have been Acres. Sold for cash ~, . ..... - 30,935,174 (For which the.r.e.l;;;,e been received 2 7,940,151 dole.) Located fo r m ilit ar y bounties 15,806,260 Approved under swamp land grants 30,199,056 Granted for railroads the aggregate The etters received at the office n m u a m ki b n e g r during the past year is 107,800, and the number sent thence 270,387---au ext Ent of correspondence probably without a preneden it. This vast amount of business is consequecit t t, uon the execution of laws passed during and subs equent to the year 1853, viz :—The Pension - At 3t, of 3d February, 1853 ; and the Bounty La.ld Law, of 3tl March, 1855 ; and the Amendatory - Act, of 14th May, 1856. the Pat en t Offi S c in e ce ha t s he is i S a u t ay e d d2, o 2 f ss j p a a a t u t rani3ts';lasantd within the itear the number will probably be _lncreased to some 2,500. During the present year, the appropriation to the Commissioner of Patents, for pro curing agri dcaoliltaurs.ral E l ta i t le ist 10 5,000 tion are declared to be " the collection of, agricul tural statistics, investigatioet for promoting agri culture and rural economy, icid the procurement and distribution of cuttings and seeds." In pursu ance o 7 the design of Cougrets a easures have been taken to procure cuttings and seer's from every part of the globe, where any nee , pros% ct can be found, which is likely to prove useful in ort y portion of the United States. Many new prodactions of great probable utility have thus been introduced, and others are being sought for, whereverthere is any prospect of success. A vessel has ju: tit been sent to South America to procure cuttings tef the sugar cane, to furnish our southern planters with a fresh stuck, to supply the place of that which it is sup posed has deterierated by continued cultivation, without renovation from the indig,enotts plteut. The Sesretary recommends additional ina move ments to be made at Washington. He sivs : " The public grounds in the city of Washington hays Le n extervively improved and beautifi d, but still as much has not 'seen dune as is required- Within a few past years Congress has, in this re gard, been more than usually liberal, but far from lavish. The comfort, health, and convenience, not; merely of the citizens, but of the members them ..,elves, and all the functionaries of the government, and every visitor to this city, demand that much. larger expenditure should be made. When the aviueY is Judiciously expended, no one can object to its application. The whole nation is interested in the national metropolis, and the people will sanction any thine relating to its improvement which is neces sary aid constitutional. a e thing is certain, these improvements will eventually be made by the goveinn eat, and being merely a question of time an over& wing treasury suggests this as the proper period." During the present administration there have been negotiated 52 Indian treaties. Of these, 32 have been ratified fey the Senate and 20 yet re main to be acted on. By these treaties the Indian title has been exeiuguislied to and reacquisitions made of lands, amoun ing in Vie aggregate to 174,184,71 e acres ; of whim' about 52,000,000 are inoin.led in the ratified treaties, and about 122,00'0,000 (ores are secured by those now before the &awe, besi ?es 19,343,800 acres which have been reservett for Indian purposes. The aggregate Money consideration involved is 11,184,203 dole. 80 cents. The Secretary speaks highly of the Indian race, a`trtbutes their faults chiefly to the cruelty prac tis:d upon them IT unprincipled white men, and recommends p-trseverauce in the police of endea vouring to eivili a and christianise, and the invio late maintenance of the colonial reservations, in which manual labour schools should be introduced, where the mechanical arts may be taught, agricul tural scieue'', with its practical applic alio a, perse veringly incioeitJed by precept and example. SEMETARY OF THE NAVY'S REPORT. The report uf the Secretary of the Navy gives a detailed view of the operations of the navy during last year, and its present strength. Among the recommendations are the following :—For another squadron in the Pacific, rendered necessary by an extending commerce • the adoption of the English and French system o f gunnery on practice ships, and ter the lie:leach of small steamers to survey the Guaro lsdlnds, on which Commed , ire Mervine male an unsatisfactory report. The Secretary re g.trds the construction of the six war steamers as mauguratieg a new era in the naval service, and repeats his former recommendation for building steam sloop; of war of small craft. The sending out of seamen to relieve distant crews is spoken of as an experiment, and will be continued if it sha:l week' well. The Secretary likewise recernmends assistant -I ursers with mode rate compensation. SEC TALLY OF WAR'S LEPORT. The felluwilig ;distract from the report of the Secr..tary of from the New York Herald. We have not seen the document in extenso:— " The authorise' strength of the army is now 15;891 men. Tile actual strength at the date of !lie returns, July 1, 1856, was 15,562. The num ber of enlistments made during the twelve mouths ending September 30, 1856, was 4,140. The num : her of offers r.Zust-11 on account of minority and untLness for service was 5,59 t. Tle number of casualties during the same time was 6,696, of whom 3,223 r. , ..0 by desertion. " All the Indian troubles in the West have ceased, exeqa with the Cheyennes. "The (LspositiHn of the troops is given in detail. " It is recommended to extinguish the possessory rights of Liao Hudson Bay Company, as they owe no diegiance to our Giivernmeut, and they would be disposed to exercise a powerful influence among the Indians against our people if occasion required. "A vi' eron4 campaign 438 been projected against the Floridaindians, G6neral Harney commanding the military posts. "Much spice is devoed to the consideration of the_pre:.ent system of military posts on the western frontiers, 'and a complete revolution of the whole system is urged. The expenses at present are enormous, without any corresponding benefit to fao country or frontier. . _ " The ;: - eat number of resignations in the army show the necessi'y for an increase of pay. It evi dences a policy injurious to professional pride, while the hitt.: snrvice and frontier stations of the officers require of them' sacrifices which no other officers or toe Government are called upon to make. Toe expense of living has Wen greatly augmented, and the pay is about the same as it was fifty years ago. It is bad economy (the report continues) to drive the active and intelligent from the sorvico which they ado: n." ATTACK BY GAROTTERS AND SUCCESSFUL RESISTANCE. The garotters and burglars are beginning to gat th e worst of it. A few months such successful efforts in re sistance as we have had lately, and we shall not hear of so many of these dastardly attacks. We have much pleasure in recording that an attack by highway robbers, on Tuesd ay evening, upon Mr. Charles Ward, of the Vine Hotel lotel Tom cross-lane, Sheffield, was successfully repelled by that aen tleman in such a way as to give the robbers a "taster:f their own quality." Early in the afternoon fir,went ilar-dbyo spend trainthe Christmas children there, hre t e o . Masbro From Masbro' for the purpose of taking them to the house of his sist er a t Greas bro,' ro, to they all walked to Greasbro,' where the and Mr. Ward prepared to return about 5' arrive o'cd in safety, . Ward's sister warned him that sever a l lock. Mr stopped by robbers on the road betweenpersons had been Masbro.' Mr. Ward, for the purpose Greasbro' and cepted a stout walking-stick, and, of self-defence, ao walk back to Masbro,' whence he i ntended ) tints armed, set out to ee 6 o'clock train to Sheffield. At to return by the near the farm which he ns ad 13 a lonely spot on the road, the footpath, to whom s • arbot Hall, he met a man cn no reply Mr. Ward's Flu s a id " Good night." Receiving walked on quickly, ke eping Sicions were aroused, a a had gone a short distance he saw another man advancing on hi s way, and the fe °PPosite side attic) r • oad Ho kept so ethin about its being a llow approached, B , Vi l ?g ~a ' Yes, is ;" and the fi ne !light. Mr. Ward replied m an .._ . you got any money?" .. y "umedrately askP . IVard "do es, I hay " 01l replied Mr. , low. want it rte y e, co y •ve it me," said the fel- Ai r. Ward, es, you m c uls:isgistick close up against his side, so that in thevficlaorkatrhrOeman could not see it) at once, with great press of mind, resolved upon the course to pursue. He tosaid the robber, " Suppose I give you the money, will me ?" " No, replied the fellow, e i,,„„ You not hurt - - Ino all you have got, and I will not hurt you." Whrle this Was pas , ing, Mr. Ward, in order to throw the fellow off his guard, pretended t o be unbuttoning his coat to tak e out his money; but suddenly, going back a step or t wo, be raised the handle end cf his stick, and dealt the robber a tremendous blow on the side of the head, Which precipitated him to the ground. Immediately, the man whom Mr. Ward had first met, and who no doubt bad been lurking close by to assist his corn pan *c, , came up and a ttacked M r. Ward. He seized Mr. Ward in before he could strike with his stick, a struggle en sued, an d they fell together. Mr. Ward , however , who is a powerful, muscular man, got the best of the conflict. He beat the robber at his own game. Seizing the ruffian by the threat, b e favoured him with such a squeeze as would give a himpractical notion of the pleasures of being ga rotted , • an d then, when the man relaxed his hold, he got up, took to his heels , and made the best of his ray to Mail hr.,o' li . ,NV lch he reached ti me enough to start by the six o'clock train. The other fellow had no doubt been ren dered insensible by the blow on the head, for he never stirred while Mr. Ward remained on the spot. Mr: Ward was covered with dirt and much exhausted ; but the only injury he received was a bruise ou the back. I n the e missive darkness of the night Mr. Ward did not very I. e* tinctly see the features of his assailants, and it is dou b tful -i whether he will be able to identify them. A painful accident is stated by the Brussels journals to have befallen M. Nothomb, the Belgium Minister of Justice. A few nights ago Madame Nothomb having occasion to use a flask of ether some of the liquid was spilt, took fire, and burnt her face severely, as wall as her infant whom she had i n h er arms. M. Nothomb, in attempting to extinguish the flames, wa s also much burnt. icmo Second o r C t a h 10 In the Se e g o o n ve l rhne natmcbaerar mofutnhiceartirounsais faronmDt!heet aunt were expected, but none were made. The Cham ber, on rising, rl; h- j 'Jurned for the Christmas holidays to the sth January. The monument to the memory of the daughter o Charles 1., which the Queen commisfioned Baron Maro chetti to execute, has just been erected in St. Thomas's church, Newport, Isle of Wight, where the Princess who died in captivity at Carisbrock Castle, lies buried. I' E SUN, LONO 0 N, 'I" 11 UR. SDA 1' EVENIN G, DECEMB E H 25 1856