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

.A..r. _ - - _ . ---~~ PIONEY MARK7'II' AND commFaclAL INTL'LLIGENCE. 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, (kc., as usual, are closed. BRITISH FUNDS.—CLOSING PRICES, DEC. 24. (From the Officus List.) iu,ine.s dont. Bank Stock 3 ..er ...kot. Reduced A mmitian Kew 3pp 'ent. A.rinuities ri.nde PI oho ....... _— Ditto, under £lOOO 2 p Console for Etc,oant 9 31 4 Rzenegner Bills, 2i41. £lOOO small Ditto Bonds, 1855, 3 per Cent.. Ditto, 1859 1 2 pld 2d 98i 983 FOREIGN FUNDS Orem& New Active, 21 per Cent Peruvian Bowls 4i per Cent Ditto Account Portuguese Bowls, 5 per Cent., Con. 1841 Ditto 1853, 3 per Cent Sardinia, Bonds, 5 per Cent. Ditto Account Bp nigh 'o!ds, 3 per !'ent Ditto , "ew Deferred, 3 per Cent. Ditto Account 24i Turkibh itonda, 6 p‘r cent Ditto Account ... 95 / Ditto Guaranteed, 4 per Cont. Ditto Account Venezuela Bonds, 44 per Cent Ditto Account . . 211 36f 6 i • end. Y. the nhnve .Ivabios Dutch Ex& anger?,,i per Cen%., 12 Guilders Ditto per Cent. Certificates THREE O'CLOCK ennsols '(Money) Ditto Account (January F) •93i 4 a d INCOME-T.AI MEET' V GS. CELE LTENHA M. On Tuesday night a meeting, convened by requisition to the High Bailiff, was held at the Town-hall, Cheltenham "to 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 opening the pr ocee di ngs , expresse d a h ope that th e speakers would confine themselves to the matters before the meeting, and not diverge into other political questions . He then briefly referred to the history of the tax, spoke of its increase in the time of war, and expressed his opinion that as we were now at peace it was no longer required. 51r. Tartt then moved a resolution, affirming that the pre sent tax of Is. 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 April next would be "a violation of faith and of promises made at the time of its enactment by her Majesty's Govern anent." The resolution was seconded by Mr. Hale and carried unanimously. Mr. W. H. Gwinnett, solicitor, moved the second resolution, " That the mode of assess ment 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 tion, affirming that the meeting (lid not object to a " fair and equitably apportioned tax upon realised property." HUmphreys, who said he had written a work on taxation, which had received the direct sanction of the Government, maintained that the fairest direct tax was a tax on realised property, not a tax on precarious income, and that if an income tax be rendered absolutely necessary lay the nature of things the graduated or sliding scale ahould be applied to it. It should be graduated in propor tion to the means of those who have to pay it. M. H. Davies, booksel:er, seconded the motion, expressing him self favourable rather to indirect than to direct taxation. The resolution was carried, and a petition fo Parliament was agreed upon. Mr. Harper, newspaper proprietor, then moved a resolution, condemning the mode in which the local comrnisQioners had exercised their powers, and declaring 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. HUDDERSFIELD. On Monday evening a meeting of the inhabitants of Zuddersfield and its vicinity was held in the Pbilosophi ,.cal Hall, having been convened by the Chief Constable upon a requisition, signed by about 400 persons, to con fider the propriety of petitioning Parliament for a modi fication of the income tax, and an alterAion of the present •s ', r harassing man ner o f assess i ng it. Th e Chi e f C onstable Presided, and several influential gentlemen addressed 'the meeting upon the inequalities of the income tax, for `the most part upholding, however, the principle of direct 'taxation. Resolutions were passed stating that in the - opinion of the meeting, now the war had ceased, the tax should be redu ce d t o th e rates it would have been assessed at, under the act of 1853, bad the war not intervened ; that the machinery for the assessment of the tax was de. • 'Active; " a moiety of the general and additional commis sioners should be periodically elected by those liable to the Masessment," and that the inequalities of the tax should be *zemedied by "differential duties upon different descrip ',. lions of income, according to their relative character o f .comparative permanence or precariousness." These reso. lutions were to be embodied in a petition, and 'sent to - Viscount Goderieb, M.P. for Huddersfield, for presents '', tion to the House of Commons. ROCHESTER. On Tuesday evening a common hall of the citizens of Rochester was held in that city, presided over by the Mayor, Mr. W. Manclark, for the purpose of seeking the abolition of the income tax at the earliest possible period, and especially the additionQ war tax of 9d. in the pound. 'The Mayor, who is one of the local commissioners for the income tax, denounced the impost as being both unjust and despotic. Frorrl his experience as one of th e c omm i s . *loners he had long, been of opinion that it afforded a pre . Ininm for rascality, and was a curse to the country. Ai r . R. Everest movr i d a resolution to the effect that an income tax on the trades, professions, and general industry of the Country is unjust in principle, and that from the despotic and inquisitorial mode of its assessment it is obnoxious and injurious to the community, and therefore that it Ought to be abolished at the earliest possible period. The xesolution. also stated that the continuance of the present additional waT tax of 9d. in the pound beyond the sth of -April next viould be a violation, of the spirit of the act of Parliament, by which the public were led to believe that thi s impo at should not be continued for more than one Year after • the termination of hostilities. This resolution Was carried unanimously ; and, after the meeting bad been a•Lidressed by J. Foord, Eaq., Ur. J. Thomas, and Mr. F. wheelet, a petiti on t o P ar li ament, praying for the reduc tion ay , .d subsequent repeal of the income tax, was unani 140 Ug) y agreed to LLOYD'S SHIPPING. —(This Day.) LONDON, Dec. 25 . —Wi n d this day at noon, N.N.E.; I rht breeze and frosty weather. aOLiyEltroot„ Dec. 21.—The Majestic, of Yarmouth, fiom l 8 port to, Boston, put into Beaumaris, yesterday, hay eta,, on tb .e n i g h t o f t h e 21st ult., carried away her jib and y sai;• t r AIiv,TERDAit, Dec. 22.—Th e Oli ve i ra V. Santana, from j'ato.eurg to Lisbon, w as s t ran d e d near G ravel i nes t h e `at...er end of November; cargo being saved. T'ue Hen 'etta Rebecca, from Hamburg to St. Thomas, put into I luckstadt, on the 10th Dec., having sustained much da tuL/e. g 8 110 N, Dee. 15.—1 t has blown hard here at intervals during the F i st wee k f rom S. W. to S. and a heavy sea on the bar, which has prevented vessels' getting out. ,4 C AGLIARI, Dec. 17. —The whole of th e cargo, per Hein "l)3, from England, which went on shore at Puzzinosa, Torres Straitb, on the 9th Dec., is expected to be THE CIRCULATING MRDIUM. CUSTOM-HOUSE, WEDNESDAY, DEc 21. ENTERED INwARDS.— Forth,from Dantzio ; Pigeon, Hol 'beck ; City of Naples, Nantes ; Luther, Pillau; Josephine, , -Atalrno ; Times, Mogadore ; Richard, Wolg as t ; C ar l Fre- Dantzic ; Ceres, Stege ; Caroline, Nykioping ; Hudlkswall ; Bacchante, Oporto ; Province Drenthe, 13.antzic ; Alma, Nestoed ; Phoenix, Bahia; Rival, Villa ; Dale, Odessa; Sarah Richardson, Gotten b urg h ; Oren .Stettin ; Nema, Rufina ; Rivadeo, Orven ; J ones , ENTERED OUTWARDS.-,•The Bezaliel, for Barbadoes ; ',chant°, Oporto ; City of Nantes, Nantes ; Globe, Cape °° 0 (1 Hope; Cordia, Reva de Sella ; Lieutenant Bellot, ( - 2 ,"hurst ; Seville • Navigator, MaNgs ; Eleanor "T• Davis, St. John's, * Newfoundland. g OLIDsyg AT THE CO3MON-LAW OFFICES.—The whole qof the various offices con nec t e d w i t h th e C our t s o f .11tteen's Bench, Common Pleas, and Exchequer will be osed this (Christmas day), to-morrow (Friday), Satur r„u,Y, and Monday, and re-open on Tuesday at 11 o'clock. T he holidays were fixed by the Uniformity of Process " L et, and have been incorporated in the rules relating to holiday, under the Common Lax Procedure Act. J UDGES' CHAMBERS.—The chambers of the reveral t a n d ges in S ergean t' s -i nn w ill b e closed this day ; Friday, e 26th ; Saturday, 27th ; and Monday, 29th instant. tiee R OIAL COLLEGE OF SURGE ONS. —T he following gen th en, having undergone the necessary examination for Zediploma, were admitted memb ers o f the college at a e ting of the Court of E xam i ners on the 22d inst. I.l,ee3rs. Charles Culledge Balding, Barkway, Tferti ; • i. 7. ; !;; y, iilackbutn, nc, 4 comir e ; ...nomad itziierwn lunar , L rkshire ; Edward Benbow, army ; and Richard e c'rge White, Soutbgate-road, Islington. V . , perty, Worth 4161., say, the tail of a le'ase, the end of a life Chancellor is discovered at daylight seated at his bureau, interest, the remnant of professional capacity, the Long a trace of sadness on his brow, but a wiser man.) '. Aniireaiee, which expire in 1860, and a thousand other -- blue hlief and precarious incomes, you tax at the enormous TABLE I. The rate of 21. Bs. per cent. on their property value, while The Present Values of Incomes for various Perio3s (ser ain your Consols, Exchequer Bills, and other property in ab- I fain, and Rates at which each are Taxed. solute possession, upon which you may realise to-morrow the full value of the perpetuity, you tax at the rate only Present Proportion s▪ m . of 58. 4d. per cent. Value of +mount of Rate per of 1 rop er ty Years. £l5O per fax levied C e nt. o f paid Ch. of Ex. (submissively) -That is so, sir. Annum. Annually. Taxation. Annually. tde, Sp.-And you think this a near approach to absolute -- --- equality, do you ? t o assume, fi rs t, th a t a man ' s b ra i n is so £ £ £ s. d. -- art, much property, and bringing it to a money value, to tax 3 416 10 2Si 0 1.415 t no t 4001. of that value as though it were 4,0001. stock on land; 5 637 10 19 11 1-66th h a t imposing upon one 48s. per cent. property tax, and upon 7 900 10 12 2 1-9 M another ss. 3d. per cent. only. Again, y.ou think it fair 10 1,216 10 016 s 1-121st he. to tax the Long Annuitant, whose income expires in 18q), 15 1,667 10 011 11 1-166th and whose property sells now for 4161., according to your 20 2,038 10 09 9 1-203 d own calculation, at th e ra t e o f Cs. per cent, on the val ue , 23 2,228 10 08 11 1-222 d sus while you impose on the owner of annuities expiring in 25 2,343 10 08 6 1-234th 1880 (23 years dente) a tax at the rate of Bs. 11d. per cent., 30 2,593 10 07 8 1-259th ur- and on the owner of Consols, whose property will realise 40 2,968 10 06 8 1-296th d o to-day 3,7501., just ss. 43. par cent. 50 3,222 10 06 2 1-322 d Oh. of Ex.-I fear the tax cannot be justified on the 60 3,393 10 05 10 1-3311th t o ground of equality. 70 3,509 10 0 5 8 1-350th m, Sp. (with dignity) --I should think not, indeed. Accept, 80 3,587 10 05 6 1-358th ty sir, and profit by this definition of your tax :-An Income 90 3,640 10 05 5 1-361 th a s Tax, levied as at present, is a graduated Property Tax, the Perpetuity 3,750 10 05 4 1-375th ur gradation of taxation being so contrived as to fall with - crushing ce s worth 1,6671., of ur class .:s at what rates the tax falls upon them. (See Tables value, being 1-66th part of the property. A similar in accumulated addition o f t i a n d th u i s s tr d y e , a t a o i t t h i () e a relief l fa o r .f fifteen a c g erl o ain l 0 1 a1 50 e 1. T f ax or nish you with a scale which I have prepared, to inform all is taxed at. the rate of Ils. 11d. per cent. on the present I. and If.) oome in perpetuity ( sa y i n th e F un d s ) i s wort h 3 ,7501., it , a Ch. of Ex.-Pray do no t pu bli s h y our sca l e un til I h ave is taxed at ss. 4d. per cent., being 1-375th part of the ( a- devised some tax as a su b s ti tu t e . C ons id er th e diffi cu lt y value. el of my position, the ma i n t enance o f th e cre dit o f th e St ate, TABLE IL .uits honour at home an d a b roa d , it s di g -- Present Values of Precarious Incomes, enjoyed either for I Sp. (impatiently)-F u d ge ! H ow can t h e cre dit an d h o- Life or during Capacity for Labour, at various Agee. is 1 nour of any country b e ma i n t a i ne d b y i n j us ti ce an d op- Calculated at 51. per cent., Carlisle rate of mortality. s a pression? " Righteousness (equity) exalteth a nation"-so a we read. Levy your taxes fairly, and the honour and Present 1 'of credit of thecountry w ill ta ke care of themseldes. Present mount Rate per, Value Value of of Tax cent. , f Tax £l5O per Rate per :ult. of Tax 2 Ch. of Ex.-True, air ; but I was about, when you inter- Age. £l5l per levied Annually Annum Annually LI rupted me, to remind you of the claims of the public ore- Annum Annually. during Life. during during ditor. Can you add to the obligations already conferred on for Life. Capacity. Capacity. o me, by suggesting a tax as a substitute for that which, I t suppose, I must relinquish ? £ £ £s. d. £ 2s. d. a L sp.-Before doing so, I must inform you that we spirits f 0 2,372 10 08 5 2,295 08 8 a enjoy clearer views of these things than we did while look- 25 2,995 10 08 8 2,208 09 0 tt - ing through mortal eyes, and we do not perceive any occa- 30 2,203 10 09 0 2,119 09 5 it sion at all for providing a tax as a substitute. To me it is 35 2,119 10 09 5 2,008 09 11 5: • quite appurent that a proper representation of the tax-pay- 40 2,008 10 09 11 1,897 010 6 t , ing people, due attention to the voting of supplies (which 45 1,897 10 010 6 1,749 011 5 T is now a farce), together with the ve r y s i mp l e expe di ent of 50 1,749 10 011 5 1,5 i 2 12 10 1 the publication of a detailed statement of the national re- 55 1,5'2 10 012 10 1,311 014 11 A' ceipt and expenditure, would obviate any occasion fora 60 1,341 10 014 11 1,161 017 2 substituted taxation. 65 1,164 10 017 2 950 11 0 fi s. Ch. of Ex. (exhibiting extreme agitation)-Surely, sir, 70 950 10 11 0 748 16 -8 you would not advocate so imprudent a measure as th e 75 742 10 16 s 602 113 2 VE publica • tion of the details of the expenditure of the several dc 80 602 10 113 2 481 21 7 , departments? SO I 481 10 21 7 351 216 11 7, Sp.-Indeed, Ido advocate it. You have required it Explanation of Table.-The lif e i ncome o f 1501. 01 a per- wl of the poor law unions, have you not?„ • son aged 60 is worth 1,3411., an d h e i s t axe d on that value 'a Ch. of Ex.-Yes. at the rate of 14s. lid. per cent. As, however, men are Sp.-And of the municipal corporations, the savings generally incapacitated for active exertion before death, at banks, the prisons., the police, the county courts, the Court a column has been added, with the value of incomes at of Chancery, &c. various 'ages, det e r m i na bl e a t fi ve y ears b efore death Ch. of Ex.-Very true; but cons id er th e diff eren t na- (which period is assumed as the average period of incapa- or ture of their expenditure. You would not expose to the city); the income of the same person, aged 6 , will, upon the impertinent curiosity of the public gaze the amount' re- this assumption, be worth 1,1611., and he will be taxed at all ceived by this or that official, disclosing the secrets of the the rate of 17s. 2d. per cent. ; a similar income in the d©i various departments ? It would be striking a blow at the Fonds (see Table I) is taxed at ss. 4d. per cent, ad' roots of our political institutions. By the above Tables I. and IL the values of incomes for the Sp -I know it would, and shall take steps for prcmul- periods certain, and also of precarious incomes, may be gating my views on the subject. approximately as c ert a i ne d, an d th e e ff ec t s o f t h e I ncome ser Oh. of Ex. (in e x t rem ity o f hi s ag it a ti on f orge tti ng the Tax upon them may be contra s t e d. des spiritual nature of hi s vi s it an t)-I p ra y you, goo d s i r , d o ] nut act with precipitation in this matter; I will speak to Lord P-n ; a pl ace a t th e T reasury B oar d cou ld not b e ll m - Br; ilitary I ntell:gence. _rmore worthily occupi e d th an by y ourse lf. B u t s t op - a ava and es vacant Garter ie at hi s di s p osa l, an d would d ou btl ess b e B r i offered for your acceptanc e . SHEERNESS-WEDNESDAY. bet Sp. (interrupting, with a hearty laugh)-A garter ! how This morning between the h..urs of two and three, the 24 can a spirit's l eg b e i nves t e d w ith a gar t er ? general quarterly muster of all the h an d s emp l oye d in s cte Ch. of Ex. (aw a ki ng t o a sense o f his p os iti on )- T rue, I t bi s d oc k yar d was h e ld i n t h e presence of J. Brown, r forgot myself f o r a momen t ; a di gn ity o f th a t ki n d wou ld E sq., master attendant (in the absence, by illness, of to be somewhat out of place. C apta i n Superintendent John Jervis Tucker), after illai Sp.-Of course it w o uld. Such thin gs p ossess no va l ue i n which the whole of the men repaired to their respective Uni the spirit world ; from the order of the Seraphim of Swe- homes to enj,y good Christmas fare, the den down to the Garter of Great Britain, all such decors- Hermes 6, paddle sloop, Comma n d er G or d on, h au l e d vey tions are a lik e wor thl ess . ' out of the ' basin this morning, and proceeded on a short the Ch. of Ex.-Assuming, however, that a tax by way of trial trip, and returned abut . eut noon She will proceed yeas substitute should be required, what tax do you recom up to the coal hulk to fill up. The Cape of Good Harm .e.:.. mend ? 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 Income Tax was, in one sense a Property 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 propel ty. 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 endeavoured to convince you that your tax was a masterpiece of injustice. What I now propose as a property tax 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 1/., then 1,0001. will pay 101., and 10,0001. will pay 1001. This tax being levied upon fair principles, there could be no diffi culty in making all contribute; whereas you now exempt a large proportion of the property of the country, viz that which bel ongs t o owners o f proper t y up to about 3,0001. in value*—while you inflict the tax in it&most oppres sive form upon men living by labour of hand or brain, and who have not 101. worth of property in the world. Ch. of Ex.—But such a tax will drive property from the country. Hermes ' 6, paddle sloop, Comma n d er G or d 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 fill 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, also hauled out of the basin this morning, having had her defects (machinery) made good. Hawke, 60, screw guard ship, Captain James Willcox, has got her lower and top masts on end, and has Wiled into No. 3 dry dock; her marines and boys joined her yesterday. 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 England 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 ? Melanipus, 40, coast guard ship, Captain Leopold J. Heath, C. 8., has also go; her marines and boys. Terrible, 21, paddle frigate, will haul into No. 3 dry dock when the Hawke comes out, as'one bow is found in a very defective and rotten sta..e. Carl, Swedish schooner, Sardelius, master, left fur Oram this morning early. Charlotte Caroline, 226 tons, C. D. Studeman, master, with a general cargo of timber for this yard from Dant zic, hauled into the bagin at ten a.m. She will cm - mance discharging immediately. sent thence 210,337--an extent of carrespondence probably without a precedent. This - vast amount of business is consequent up na the .execution of laws pas , :ed during and subs( quent to the year 1853, viz :—Tee Pension Ac t, of 3d February, 1853; and the Bounty Land. Law, of 3d March, 1855 ; and the Amendatory- Act, of 14th May, 1856. • Since the Ist day of January last the Patent Office has issued 2,255 paten is ; and within the year the number will probably be increased to some 2, 500. During the present year, the appropriation to the Commissioner of Patents, for procurin g agri cialtural statistics, had been increased to 105,000 dollars. Tne objects embraced in this appropria tion are declared to be " the collection of agricul tural statistics, investigations for promoting agri culture and rural economy, and the procurement and distribution of cuttings and seeds." In pursu ance 07 the design of Congress measures have been taken to procure cuttings and see ds from every part of the glob e , w h ere any new product can be f o u n d, which is likely to prove useful in ii•ny portion of the United States. Many new prod:Actions of great probable utility have thus been introduced, and others are being sought for, whereve? there is any prospect of success. A vessel Las jusi: been sent to South America to procure cuttings .of the sugar cane, to furnish our southern planters with a fresh stock, to supply the place of that which it is sup. posed has deteriorated by continued cultivation, without renovation from the indigenous plant. The Secretary recommends additional improve ments to be made at Washi ng t on . Re says : " The public grounds in the c ity of W as hi ngton hava be n extemively improved a id beautified, but still as much has not neen done as is required. Within a few past years Congress has, in this re gard, been more than usually liberal, b u t f ar f rom lavish. The comfort, health, and convenience, not merely of the citizens, but of the members them selves, and all the functionaries of the government, and every visitor to this city, demand that much larg expenditure should be made. When the miuey is judiciously expended, no one can object to its application. The whole nation is interested in the national metropolis, and the people will sanction anything relating to its improvement which is neces sary aLd constitutional. 0 e thing is certain, these improvements will eventually . be made by the goveinn eat,.and being merely a question of time an overflowing treasury suggests this as the proper period." During the present administration there have been negotiated 152 Indian treaties. Of these, 32 have been ratified by the Senate and 20 yet re main to be acted on. By these treaties the Indian title has been extinguished to and reacquisitions made of lands, amoun ing in the aggregate to 174,184,7.10 acres ; of which about 52,040,000 are included in the ratified treaties, and about 122,000,000 acres are secured by those now before the Senate, besi les 10,343,800 acres which have been reserved for Indian purpose's. The aggregate money consideration involved is 11,184,203 dole. 80 cents. The Secretary speaks highly of the Indian race, attributes their faults chiefly to the cruelty prac tivd upon them by unprincipled white men, and recommends perseverance in the police o f endea vouring to civilise 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 science, with its practical applicAlioa, perse veringly inculcated by precept and example. SECRETARY OF THE NAVY'S REPORT. The report of 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 of gunnery on practice ships, and for the despatch of small steamers to survey the Guano Islands, on which Commodore Mervine made au unsatisfactory report. Tue Secretary re gards the construction of the six .war steamers as inaugurating a new era in the naval service, and repeats his former recommendation for building steam sloops of war of small craft. The sending out of s eamen t o re li eve di s t an t crews is spoken of as an experiment, and will be continued if it shall work well. The Secretary likewise recommends assistant-pursers with mode rate compensation. • PO RTS MOUTH- WEDNESDAY. Oberon, 3, paddle, Lieutenant-Commander J. M. Jackson, has arrived at Pembroke. Pembroke, 60, screw block ship, Captain Fraser, went through Spithead this morning, to prove boilers and machinery, and returned into harbour to fill up with fuel. Yesterday the lads belonging to the Victory and Illustrious got leave of absence to visit their relatives and friends. Nearly 500 of these healthy and well disciplined boys, 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 duty, DEVON PO RT-TUESDAY. Captain Prevost, of the Satellite, returned from leave on Monday night, and joined the ship, and Failed this afternoon for South America. London, 90, was brought alongside the dockyard to day, preparatory to her being taken into dock to be fitted with a screw. In the Sound. — James Watt and Implacable. - In Harbour.—R , yal William, Impregnable, Ajax, Cambridge, Cornwallis, Indu , , Eagle, Maaancler, Sylph, Shamrock, Avone ATautilus, Confiance, Zephyr, Camel, lighter; and Peiki-Kaler, Turkish liner. A gunner blonging to the field batteries of the Royal Artillery at Wool..victi, recently discharged from the sick list, ye4terday ;horning underwent cerporal punishment, adjudged jinn 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 bait-ps,st 8, where, the sentence of tae court martial having been read the ailjw.a.nt on duty, he was pinioned to the triangle and r , ceived the first portion of his sentence—namsly, 50 lashes. lie is to be subjected to 84 , v.ys' confinement with hard lab ur in Colobath-field prison, and finally to be dismissed the service. Lieutenant Giminander Plke, of her Majesty's ship Antelope, having engaged the whole of his crew, is or dered to be in readiness for sea on the 30th inst. His instructions are to join the Trident and P4ito on the West 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 for paddle boa boats. SERIOUS LASE OF ABDUCTION. CAnLow, Dec. 23,—At the petty sessions of this town three men were brought up charged with having carried eff a young woman named Catherine Huriban, 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 than 12 magistrates were present. Since the attempted abduc tion of Miss Arbuthnot by Mr. Carden the people of this country hare 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, semional prosecutor, attended on the part of the Crown. The parties accused, who were un defended, were Thomas Dunne, James Keefe, and John Burn. 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 Gall the witnesses. Catherine Ilurihan, an interesting young girl of some 18 summers, was the first witness examined. She stated that en Saturday morning last, about 6 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 vhich were three men. On coming near to the vehicle the prisoner Dunne, who was a servant in her father's employment, approached and dragged her off the ear. In his efforts to do so she pulled her grandmother along with her. She screamed for help, hut her parent' 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, c :; sing the door behind him, whereupon Keefe drove o ff as f a st e s he could, the third person holding back her mother and grandmother. She remained insensible un til they arrived in Atby, a distance of /0 miles. Her clothes were much torn and injured in the struggle. When they drove into Stracibelly, three miles from Atby, Dunne and the car driver, Keefe, partook of some breakfast, but she refused. Dunne, on her recovering her eelf-possession, frequently 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 agreed on Friday nigh;`, to elope with him. The prosecutrix repudiated the statement. o g .13.urihan, mother of the last witness, corrobo rated the ,testimony of her daughter ; in her information John Barn was the third person engaged she swore than t‘e believed thet she was mistaken as in the attack, bat rence to Keefe, the car-driver, to his id en ti ty. With rre.._ -ied and assisted Dunne she positively swore that he an,._ car. in forcing her daughter into the cover,.,. Mr, Butl er sa id t h at o f course thepr;;ecut Burn t=bould b , - abttrab.,n,-fl e The Magistrate 4 ordered inform t a'iODS to be ta k en against Dunne an d K eefe to stand their trial at the March assizes, and refused to accept bail for their ap• pearance. ^n against tHE SUN, LON otiN, THURSnA V VENIN G, DECEMBER 25 1856 UNITED STATES D EPA 1 ENTAL REPO ZITS. As is usual at the opening of the United States Congress the several heads of departments have presented their annual reports. Those of the rPostmaster-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 manna report, the post-offices have been increased 1,155, and numbered on 30th 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 transportation of mails was 71,307,897 miles, cost ing 6,035,474 dole., and divided as follows :- 21,809,296 miles by railroad at 2,316,389 dole.— 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. 19,11.4,991 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.-54- cents per mile. Com pared with the service of June 30,1855, there is au addition of 11,734 miles to the length of mail routes; 3,906,731 miles to the total annual transporta tion--being about 5 8-10 per cent., and of 690,236 dole. to 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 complaint of the large amount paid to the Panama Railroad, amounting for the last fiscal year to 141,308 dols and for the 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 dole., and an appropriation of 200,000 dole. towards a semi-monthly mail, via Nicaragua and Tehuantepec, giving, with the Panama route, a weekly mail to California. The total expense of the department for the last fiscal t year was 10,405,286 dole. The entire re venue, including the annual amount of 700,000 dole, 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 expenditure for the current year is estimated at 10,658,678 dole. ; the revenue at 9,991,794 dole. The abolition of the franking privilege is urged, or else that the department be allowed to charge the government the ordinary rates on franked matter ; also the abolition of the 50 per cent. deduction on the postage of periodicals paid in advance. With these changes, and the relief of the'departtnent 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 the British Pest-office for a reduction of the pcstage 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 hate an abatement made in this transit charge, which is considered excessive, and in the present instance the condition was ren dered ''necessary, inasmuch as a reduction on the United States and British correspondence will in volve also a reduction of the sea postage on the United States and continental closed mails, the effect of which would he greatly to reduce the receipts from the United States mail steamship line., unless there is a corresponding reduction in the Bri tish transit tax; so that by lower rates correspon dence would be increased sufficiently to prevent loss. So far as Great Britain is concerned, in the event of reduction simply in the Atlantic postage, it is not likely that she would suffer any serious diminution of 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 ail closed mails in both countries fixed at the uniform rate of 12 cents an ounce—a concession which would secure to the British and California and West India 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 make this concession, first, because I regard it of the highest importance that the cor respondence between this country and Europe should be relieved from the onerous tax to which it is now subjected, in order that the people ou 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 foreign as in domestic postal arrangements, that simplicity and uniformity should be observed. " Arrangements have been made between this depiirtment and the postal authorities of Great Britain and C.tnada, providing for the registration of valuable letters transmitted between those coun tries and the Uni;ed S • a.tes. The United States registration fee is five cents, the same as on re gistered letters destined to any place in this country." The aggregate amount of postage, foreign and domestic, oi: mails transported by the United States 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 $13,117 86c. ; by the Havre line, $503 41c. ; and by the Charleston and Havannali line, $545 61. c. By the Bremen line the postages were increased $12,593 77c. ; by the New York and California lines, $5,370 92e. ' • and by the New Orleans and Vera Cruz line, $311893. The total amount of letter postages on British mails during the year was $897,648 70e., being a decrease from last year of $92,048 74c. Of this amount, $601,031400. were collected in the United States and $296,617 30c. in Great Britain, showing an excess of $304,41410e. collected in this country. The unpaid received from G-, - eat Britain exceeded the paid received $154,454 94c. and the paid sent from the United States exceeded the unpaid sent $148,95916e. _ _ _ The amount of foreign correspondence has not only fallen off very codsiderably, 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 June, 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 tlols. 64e. This excess during the last fiscal year was increased to b 4,530 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 degr ee upon the action of the states to which the grant s were made, and in many cases the legislation o f those states. The quantity of land sold for cash, during the last fiscal year w as „ A ores, 2 4 7 8 - 8 Received therefor §8,821,414 53c, • •98 Located with military scrip and land war rant 5............ ......................... Swamp lands approved to the states ..... 8,382,480.00 Selected underidonations for railroads ... 6,036,874.39 a nd granted for railroad pu r - ) ' c., oses (esti mated) ""•••••••• 15,680,875 00 Making a total of ..... ~.. 39,328,108'37 The land system, under the legislative enact ments of the last fcur years, and by the active measures taken to meet demands for settlement, has been extended, with entire cedented rapidity, along the whole Pacific slope, embracing the State of success and unpre of Oregon and California, the Territories tories of Kansas, Nebraska, New Mexico, and organised into six new b surveying Utah. This immense (y ee c T aphical surface has been W ashinolori, and into the Terri departments, and the public surveys are in rapid extension over it. Surveying operatio ns in the new and the old dis tricts have i, 1 -1 the same period, been extended over an area o f nearly 6 0 , 000,000 . acres, in which the lines h ave b een run an d established. During this period, also, there have been Acres. Sold for cash 30,935,174 (For which there have been received 27,940,151 dols.) Located for military bounties 15,806,260 Approved under swamp land grants 30,199,056 Granted for railroads ' the aggregate ' "Ars received at the office kn.. ..,, —1 and the number The number of 1tn...- r 1,...;,,,, 4.1," ~...L. .. ___ _ • ..,... SECRETARY OF WAR'S REPORT. The following abstract from the report of the Secretary of War is from the Hew York Herald. We have not seen the document in, extenso : " The aatlioriseel strength of the army is now 15,894 men. Tee actual strength at the date of the returns, July 1, 1836, was 15,562. The num ber of enlistments made daring the twelve months ending September 30, 1853, was 4,140. The num ber of offers refused on account of minority and unfitness for service was 5,594. Tile number of casualties .during the same time was 6,696, of whom 3,223 wore by desertion. "All the Indian troubles in the West have ceased, except with the Cheyennes. "The disposition of the troops is given in detail. " It is recommended to extinguish the possessory rights of the Hudson Bay Company, as they owe no alegiance to our Government, and they would bo disposed to exercise a powerful influence among the Indians against our people if occasion required. " A vigorous campaign has been projected against the Florida Indians, General Harney commanding the military posts. "Much space is devoted to the consideration of the present s ystem 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 the country or frontier. " The great number of resignations in the army show the necessity ., for an increase of pay. It evi dences a policy injurious to professional pride, while the hard service and frontier stations of the officers require of them sacrifices which no other officers of the Government are called upon to make. nfitifntyues) years to The expense of living has been greatly augmented, and the pay is about the same as itw c a o s ago. It is bad economy (the report drive the active and intelligent from the service which they adorn." ATT.:lff BY GAROTTERS AND SUCCESSFUL I?I:SISTANCE. get the efforts in re f the Vine Hotel, Tom hear of so swi so T tras h nt e c eo g f a a gar otters r Ah s a v a f: n w d h n t ru, cu ol r ai g itt l e a hl r sy s ,s a au r nc e idi h sw e ae tii s.l iig In o t to 1 nau by ch th pl a e t a g s e u n re . rs, on Tuesday a o i f iy his inth e many of these dastardly attacks. W e h arie,ed the robbers a "taste of Tom cross-land, n irveoeis: recordingis,ai.innagninou,psso, She achl Wield, t ime r a l .( n i,C; a ah, t ,y. t ia a i ! ae k sssu b te‘ y oeve l I ,Bg, i sr g ifdv h tlel w ol y ay re rj p b e : afternoon Mr. Ward tl " tw E o theirwent o by w ii train quality. lv i purpose of taking thorn to the ho children to Masbro,' for the bro,' to spend the Christmas holidays of his sister at Greas they all walked to Greasbro,' whereays there. From Masbro' and Mr. Ward prepared t, return they arrived in safety, Ward's sister warned him th about 5 o'clock. Mi. stopped by robbers on the at several persons had been Masbro. , Mr. Ward, road between Greasbro' and. for the cepted a stout walkinc, ; Purpose of ailf-defence, ac walk back to llah to 7 st 'e 4 , and, thus armed, set out to 6 o'clock train to sb : Whence he intended to return by the near the farm which in'jd. At a lonely spot on the road, the footpath, t,, adjoins Barbot Hall, he met a man on whom I , " Goo d night." Receiving no reply Air. Ward'ssaid suspicions were aroused, and he had gone a oio y, keeping a sharp look out. After he towards hi rt distance he saw another man advancing Ua fro • side of the road. He kept on hi s wa _ m the opposite . .Y, andsomething the feliow approached, saying , about its t • ' 's •" a tieing a fine night. Mr. Ward replied Yes, it 1 , nd the ma ll i m mediately asked, " Have you got any money?" "yes I have " coolly replied Mr. Ward, "do You want it 7 , , ' ' must give it me," said the fel low. . ~ yes, you i d Mr. Ward, who carrie I his stick close up against his side, so that in the dark the man could not see it) at once, With great presence of mind, resolved upon the course to Pursue. He said to the robber, " Suppose I give you the money, will you not hurt me " No," replied the fellow, " give me all you have got, and I will not hurt you." While this was 'masking, Mr. hard, in order to throw the fellow off his guard, pretended to be unbuttoning his coat to take out his money; but suddenly, going back a step or two, he raised the handle end of 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 Nvho no doubt had been lurking close by to assist his Cora` pnion ' ca me up and attacked Mr. Ward. He seized Mr. Ward before he could strike with his stick, a struggle en sued, and they fell together. Mr. Ward, however, who is a powerful, muscular man, got Ihe best of the conflict. H e beat the robber at his own game. Seizing the ruffian by the throat, he favoured him with such a squeeze as would give him a practical notion of the pleasures of being got-ga rotted ; and then, when the man relaxed his hold, h e up, took to his heels, and made the best of his way t o Has bro', which he reached time enough to start b o'clock train. The other fellow had no doubt y the six ren dered insensible by the blow on the h ea d , f been stirred while Mr. Ward remained on the and much exhau r Ward or he never was covered with dirt spot. Mr; • • injury he received was a bruis e on the back. but the only In the ex cessive darkness of the night Mr. Ward did not very dis tinctly see the features of his assailants, whether ho will be able to identifyand it is • doubtful them. A painful accident is stated by the Brussels journals to have befallen M. No;homb, the Belgium Minister of Justice. A few ni g ht s ago Madame Nothomb having occasion to use a fl as k of ether some of the liquid was spilt, took fire, and burnt her face severely, as well as her infant wh om s h e bad in her arcns• M. Nothomb, in attempting to extinguish the flames, was also much burnt. In the S econ d Chamber of t h e Prussian Diet on the 10:h some imp Charles I. or t ant com munications from the govern ment were e x p ecte d , b u t n one were made. The Cham ber, on r i s i ng, adjourne d for the Christmas holidays to the sth J anuary. The monument t 2 the memory o f t he dau ghter o which the Queen commissioned 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 Carisbrook Castle, lies buried. DIALOGUB ON THE Ili COME TAX. TO THE EDITOR OF THE SUN. I Published by Effingham Wilson, Royal Exchan ge . SIR,--In my former letters I explained that the Times - SCENE—An apartment in Downing-street, with blue Te was in error When it stated that a Rink of England note books, writing materials, pap . ers,. aim red tape. The would be acceptable to the people only as long as it was , supposed to be convertilde into gold on demand. I. re- Chancellor of thought. Exchequer is discovered, absorbed in anxiousbtera rising from the ground, the Spirit of Cocker, ferred to the year 1825, when, at a crisis like the pre- -6 Spirit of 00i/tter—What mediiletorae medium has sum sent, a further issue of notes woe resorted to, by the advice of Lord Ashburton, increasing the paper currency Chancellor of the Exchequer—Forgive, illustrious shade, mond me from my resting-place ? to 24,479,C00/., when it was generally known that there the unwarrantable intrusion upon your-- were only a few hundreds of thousands of bullion iu the l Sp.—Speak, I pray you, with brevity —my time is short, Bank coffers. So, with' ut relying upon any mere opi. at cock-crow I depart ; speak also in sincerity, we deal not nion, the error of the Times is demonstrated by experis in soft sawder in the spirit-world. Who are you? What ence, the most po wer f u l of argument. In f a ct, I doyou want with me ? find since y that my ideas on this point are precisely those of Adam ' 'h. of Ex —I am the Chancellor of her Mejeity's Exche- Smith ; fir we read in his" Wealth of Nations" that the qu s C e p r,. a offic . e of peculiar difficult and value (e n side, and interjectively).!Bosh ! value of notes depends upon, not the quantity of gold . in the country, hut the amount of trade done by the :Ch. of Ex.—And, knowing well the kindness of your Ch. country. If the circulating medium. whether gold or ' Sp. (impatiently).—Spirits have no hearts • confine your notes, be too scarce, as at present, trade is at a dead lack self to facts, and avoid metaphor. Feelings'l possess—do from the want of that medium. If capital is too abuts- i not trifle with them. dant, whether mites or geld, then the circulating medium 1 Ch. of Ex.—l humbly crave pardon. I was about to When the medium, g o ld is idle, fr om th e want of trade. say that, b e i ng aware o f th e ki n dli ness of your disposition, and notes, is toe abundant, the ge!d is ventured in fo- ‘ reign epeculatiene, and th e ne t es must lay idle, or be I thought you m i g ht b e w ill ing t o assistine in a difficulty cu a l l t l y . which oppr esses me grea tl y , an d I took the liberty of call- converted into go ld f or t h e same purpose. If their con- , log you f rom th e reg i on o f s h a d es to solicit a word of your version is an impossibility, th ey t h en depreeiat invaluable counsel.e in value, • not altogethe r b ecause hey are iricerivert ble Sp. —You have my w or k s; I l e ft th em f or th e gu id ance , for if the home trade wer e su dd en l y to improve they would imam• of such as you. Ch. of. Ex.—l tk I have a copy in diately be e m pl oye d , and would be no longer depreci ited ; invaluable work on hin the Science of Figuremy library of your but because instead of, like a snowball, multiplying its Sp.—Don't attempt any deception. You me possess a value by circulation, it is only useful to squander in you have e ul nev a e d r con copy of my great work, but it is clear salted it. It would have been more respite is . you goods or food for actual censemption. The difference of What it you done so before disturbing my repose. value between notes when issued in arc iniance with the t ? requirements of trade and when. too abundant is just the i wa C e h. of Ex.—l was desirous, sir, of consulting you con difference between a sack of wheat and a sack of flour to a farmer ; the one, Ly cultivation, may increase a bun part of many who have raised an outcry against the con ' corning the " unreasoning impatience of taxation ' on the dredfold, the other is useless except for making into bread, tiuuance of the property and fu came tax. and if the quantity of flour is not more than is re- Sp. (angrily). --No such tax exists. guired for actual consumption it is as valuable as wheat; Ch. of Ex.—Pardon me, respected shade of departed if flour is too abundant it depreciates its value. B L it is arithmetical accuracy, if I presume to question-- . there no me d ium b etween an extreme scarcity of cur- Sp —Read me th e titl e o f th e A c t o f P ar li ament. 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 sup er fl u 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 'rem Property, Prof ess i ons , T ra d es, and Offices, until," &c.* prevented from enj o yi ng the f res h a i r o f h eaven, which Sp.—A tax is granted to her Majesty upon certain is necessary to life, lest a hurricane should hurl me fits ; certainly not upon property, as you very well know. pro down a precipice and dash me to pieces? Our merchants Ch. of Ex.—l stand corrected; but we call it a pro end rnanutacturers require a currency of some sort at a party and income tax. price our profits enable us to pay, not. teat we may enter Sp.—l care not what you call it you m thrw dust into foreign s p ecu l a ti ons, b ut to carry on our legitimate in the public eyes, but you cannot in mine— ay spiri o ts have trade. We eornpiain that money should increase so cud- none. Ch. of E x . —B u t , s i r, " w h at ' s in a name ? a rose, " you denly in price, not f rom any extra demand, arising from " increased trade and i ncrease d prof i t-, b ut simply because know, by any oth er name w ill sme ll as sweet. " of a temporary scarc it y o f b u l l i on i n the Bank of En iand Sp.—You will never rusks your tax sweet, ca ll it b y w h at which bulli on i s a ft er a ll only a small fraction of the cir- that t e a y s ou . will ; it stinks in the public nostrils. its right let ht x y ab we p w rofi l t , B l ,, you please, c it by g culating medium when we take bills, notes, and checks name ') 4 ra i Ta n into consideration. Besides, it does not follow because li of Ex —But is it not in fact a property tax ? there is a scarcity of gold in the Bank coffers that there Sp.—/ti e , sir, Is your brain property. Is ingenuity is necessarily a scarcity of gold in England. This brings property ? Professional skill, literary excellence, plodding me to the subject of my letter, which is to prove that the well directed industry, are these property ? Bank Act of 1844, whilst it is a source of incalculable Ch. of Ex.—No, sir, not in a commercial sense; but we inconvenience aced loss to every one except a few tax property also. bankers and money lenders, to whom it brings enormous Sp.—You do, the profits arising from property, but very profits at the expense of the smaller capitaists and the gingerly. You lay burthens, heavy and grievous to be trading community generally, it is perfectly inoperative tbeurnes h elhethe ter h ofits of i i .t n a ii.is:ry, but property hardly for the sole purpose for which it was framed—that, in Ch. of Ea.—Will Villoneeaof explain to me how the Property fact, it promotes the very evil it affects to cure, and and In—l mean, tax you Profits does this ? when the evil is brought about it aggravates the conse- Sp.—Listen hen, and I will instruct you. The Income quences. The principle of this Bank Act, as your Tax, as you call s it, is a masterpiece of statecraft, originally readers are doubtless aware, is 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 surpassing ingen u ity f or extrac ti ng t h e largest possi b le pro country generally, b ut i n the Beak coffers, that scarcity portion of money from the pockets of the industrious and is increased, as it may at any time be produced by a intelligent c rea t ors o f wea l th, i n order that a proportionate proportiona`e withdrawal of notes, on the erroneous sup- immunity from taxation may be enjoyed by th a t ; possessors abcia position that notes are only valuable as long as they can of wealth ealth ;itis a tax upon the working bees the ingenuity of hive for the relief of the drones. The deep ingenuity o 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 s ee a t once the enormous evils classes of society; and, secondly, the facility with such an act must give rise to, particularly to the noes. which it extracts the money from the pockets of cantile classes, evils which experience has demonstrated various classes in precisely the inverse ratio of the too clearly. A supporter and admirer of the Bank Act amount of property possessed. In these respects I can of 1844 ra id t o me the other day, " I agree with you only compare it t o a b a t w hi c h t rave ll ers wrote of in my day as eifesting some southern climes, f whichl t ightly fanned that this act is very embarrassing, and causes great loss to the mercantile community, a loss that was never t tth u i e ts a ' e w n ing e s a i a ntoasoot f la r i e n a l sense w ilom o i t se e c x u t r r i a y etj a in rep f o u s l e l intended, and which every one must deplore, but some- stream the current object life. thing must be do ne t o check speculation, when specu- (The Chaiicellor exhibits signs of impatience and dissent.) ration is carded on to too great an extent, and this, Sp. (cibritinuing ) —Do you posssess the works of my die it appears to me, th e Bank Act does. Toe problem tinguished cotemporary and present coadjutor, Adam you have to solve is, how is excessive speculations to be Smith ? checked without unjustly interfering with the legitimate Ch. of Ex.—l have his works, and frequently consult operations of trade ? How can Sou make money dearer them. to tie gambler without making it a ruinous price to the Sp.—Then turn to the Fifth Book, part 11., o f hi s prudent trader ?" " Wealth of Nations," under the head " Of Taxes," an d rez;dh.wahfat Ex. you find there written. . The only advantage which is spoken of in connection E freading )—I. " The subjects of every State with the Bank Act of 1844 is, that it checks speculation ought to contribute towards the support of the Govern. ph carried beyond a certain point.. This I most em- meet, as nearly as possible, in proportion to their re phatically deny. I assert most distinctly that the Bank spective abilities. The expense' of Government to the in- Actand aggravates and some promotes speculation, . dividuals of a nation is like the expense of management to times creates the injurious consequences attending ape- the joint tenants of a great estate, who are all obliged to culation, The Bank Act may he retributive in its rt.- contribute in proportion to their respective interests in the don—it certainly is not preventive. The largest capita- es t a te. In the observation or neglect of this max i m con lists, the bill di scounters, and the Bank directors are of capital, This. assts wh a t i s called the equality or inequality of t axa ti on. " interested in b r i ng i ng about a scarcity Sp.—Very goo d. N ow answer me. Is your tax on pro by playing i nto each other's loand y s, and using the fi t s levied in aceerdaiece with the equitable and politi c Bank Act o f 1844 dictum of Adam S m ith? Bank di rectors can be easily managed. The Ch. of Ex.—We, that is, my respected predecessors and , when money is plentiful, make myself, have 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 to devour are embarrassed to knew how to ties, we—aliew--- get a reasonable percentage for their money the Sp. (interrupting) —Shirked it upon the House of Com- Barings, the Hopes, Rothschilds &o. throw on the m " B ' market, foreign loans, Russian railways, sic., &c., not Ch. of Ex.—ln one sense we a d a l le s e o t ; o t a h m at m la tt t e o e s b a i ta th w a c but simply any idea that they will be profitable investments, mooed the appointment of which resulted in ---- ins; smaller rivals, making money P P t ng for the purpose of employing or rather sink. rE 1111: : :::'1; , ing the capital of their; a blue book, and an outlay of 1,0001. in scarce and dea r as a t th e prese n t time, and then reaping - Ch. of Ex.—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. c t a o le t u h la e t ir e t e h ar e s ir . Sp. (with indignation)—l'll simplify the matter for them * pw r r b h :e efint e h i a n n g t k ha e ie : r y e directorstohfiesy ruined and f families e y i l s en ni de u r s s ie a con c i e e m na a p n la d te before I have done with it. formillosod stan d inandg 0 p idleera. Ch. of Ex —I must admit, sir, that the tax is not strictly a property tax; but how do you prove that the burthen fives starving when there is abundance g falls in the inverse ratio of equity and fairness ? This, I think, is adi ' Sp.—l shall make y.in prove that. Get me down a copy pa,siouate view of the Bank Act of 1844. I think I haves demonstrated of my Rudiments of Arithmetic. re that it promotes Ch. of Ex. (producing a dusty volume)—Here, sir, is a the very evil it affects tocu ;t pretends to check copy of your invaluable treatise. speculation, when in fact it drives indeed people to speculate, Sp. (sarcastically)—Yes, "invaluable treatise" ; and then, by suddenly increasing the value of money, you may work a sum in the dust upon the cover. really brings ruin to investments which, with money at Ch. of Ex. —I must plead guilt of neglect of the science the real market value, smight have been profitable. Lord which derived additional lustre from your -- Overstone was the chief adviser, it is thought, of Sir R. . Sp. (interrupting impatiently)—Can you find the pre. Feel, when the Bank Act of 1844 was framed, and sent value of an annual sum ? may imagine when we remember how he was instrwue Ch. of Ex.—l think I can, aided by your useful manual. mental in fi!ching from the mercantile communit the. Sp.—Then find me the present value of 1501, per annum bill the House of Commons passed fez. their benefit— for three years; interest at 41. per cent.i laboriously, limiting the liability at partners to the amount of money w g e he s Eh d ancellor of the Exchequer works by mental they had inveated in a concern—with what sincerity he arithmetic o e f o e f ea C r o a c e k ) er arrives at the result, wishes to meek speculation without interfering with Ch. of Ex.—l make it 41(7. the legitlmate operation of trade ; for he has given to Sp.—That is right, nearly. Now sit down and find me :but'oie companies the privilege which is denied to bona also the present values of 1501. per annum, for 5,7, 10, 15, fide and established trade.—Yours, &c., 20,23, 30, and 50 years, ano in perpetuity; and place the values, when found, in tabularjuxtaposition. Ch. of Ex. (after considerable pause).—Here are the re sults, sir, in a tabulated form. THE PRESENT, OR PROPERTY VALUES OF £l5O PER ANNUM FOR I.HE PERIODS 'UNDERMENTIONED • C. W. s. ACTION FOR COMPENSATION FOR RAILWAY INJURY. EL I nmtoble, Courtday la last, Session at t h E n a i r. b William case ul Awl Alexatriednder Dobi e , ens i gn i u the 70th Reg i ment, presently quartered in Aberd een , was pursuer, and the Aberdeen Railway defenders. l2 7 l., , p , a r ti d y p w re e s r i e dentaudaitry i The casetile following a'a upon "It b eing admitted that, on the 27th of July, 1855, s tried issue:— before and at or near Cave station on the defer ders' 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 which the pursuer (a pas-eager by the said 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. " Whether the said collision occurred through the fault of the defenders, to the loss and damage 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 had sustained, and therefore the question of damages was the only one the jury had to consider. The jury returned a verdict for the pursuer with 9501. damages. The decision, we believe, will carry Costs. 3 5 7 10 ls 20 23 30 50 In Per Yrs. Yrs. Yrs. TN. Yrs. Year, Year.. Years. Years petuity. —-—---- - —— £ £ £ £ £ £ £ £ .£ .£ 4A6 667 900 1216 f 1667 , 20i8 , 2228 2593 3222 3750 ---- --.: • Sp. (encouragingly)—V er y well ; now answer tne a few questions. The sums you have found aro the propert values of 1501. per annum ? y Ch. of Ex . —Yes ; the amount which would be realised ' in the market. Sp.—Exactly; whether realised by actual sale 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 three years is 4161., and for 15 years the value is 1,667/. and in perpetuity it is worth 3,7501. Sp. (angrily)—And yet you levy on all three the same sum annually, notwithstanding the difference in value to 1 the possessors. Co. of Ex.—How 53 ? Sp.—What tax do you levy on an income of 1501. per annum ? Ch. of Ex.-10'., being Is. 43. 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 yon call equitable taxation Can you work a common proportion ? Ch. of Ex.—Yes, Sp.—Then furnish me with the results of the following proportions : If £416 pays £lO, what is that per Cont. ? If £ti67 pays £lO, what is that per cent. ? If £9OO pays £lO, what is that per cent. ? If X 1,2 i 6 pays £lO, what is that por cent. ? If £1,657 pays £lO, what is that per cent. ? If .12,03'i pays £lO, what is that per dent, ? If P 2,228 pays £lO, what is that per cent, ? the several 3, If £2,59:'59.' pays £lO, what i s t h at per cent: ? If £3,222 pays £lO, wh a t i s th at per cent' If ra ‘t s 7 u s l O ts p . af . £lO, what is th a t p er cents 7 Ch. of E x . (having worked out proportions) —.dere are The Chambers of Hesse Darmstadt assembled on the 18th. Iu the Socoud Cumber six candi dates fur the presidency, to be presented to the Grand Duke, were selected. HOLIDAYS IN THE CHANCERY OFFICES —The Regis. trars', Record, Affidavit, and Master,' Offices, as also • the chambers of the Mast . er of the Rolls, and the severe' Vice-Chan in ncel l ext week.ors will be closed f rom this day until Wedne , day THE NEW BISHOP OF RIPON. —The confirmation of the Rev. Dr ackersteth to the se e o f R ipon will take place on Saturday, January 17, and the consecration on Sun. day the 11th. It is not yet settled w h ether the con fiin:ation Wlll be in London (St. James's) or at York Minster. £ s: d. A With £416 pays at the rate of 2 8 0 per dents E with £667 pays at the rate of 1 9 11 per cent. C with £909 pays at the rato of 1 2 2 per cer.t; n with £1,216 pays at the rate of 0 16 5 p er cen t : E with £ 1 ,667 pays at the rate of 0 11 11 per cent. 1' with £2,03 8 pays at the rate of 0 9 9 per cent. G with £2 ,228 pays at the rate of 0 8 11 per cent. Il with £2 ,593 pays at the rate of 0 7 8 per cent. I with £3,222 p ays at t h e rate o f 0 6 2 per cent, 6 _R with £3,750 pays at the rate of 0 5 4 per cent. 13.---Now, air, geethe you operation of your tgx. Pro- The Weiner Zeitung states that there wag " public mour , ing " at 0 lessa during two days for the late Prince Wor,nzoff. A letter from Bucharest announces that the Caimacans have received orders to convoke the divans a d h oc. ' The palace of th e Ciiniacan at that place was h e i n , 4 -- arranged fit the s t ngs of the into' rfttiunal commission. THE Dr.CORATION FROM 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 P r i nce o f 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 threatening au invasion of the territories of Switzer land, as a preliminary step towards the annihilation of her fro? institutions. This is the opinion universally entertained among her Majesty's subjects, and we are only doing our duty in apprising her of the fact.— Morning Advertiser. *5 & 6 Vi e t., ca p. 35. represent the ± The arithmetical term " present value" i employed to property value or amoun t w hi c h wou ld b e pa id y a purchaser f or any sum to be received at a future period or pe r i o d s, so as to recoup the purchaser the princi- S down b 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 L :0/.,miuus the interest of 1001. In like manner the value ofan annuity of 1001. f or t h ree years' interest is 100/., minus one year's interest, added to 101., 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 1/ • per annum, constructed by . John Smart, formerly of the Chamberlain's -office, London, which Tables are to be found in all standard works 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 150/. per annum for three years is required, interest at 4/. per cent., payable half -yearly, the tables give, as the value of 1/. per annum,which being multiplied into 150/. gives 416/. ss. as the result. This mode of finding present values lies at the base of all r.. 1: :, , J 'on,: io.' I_;,e plit.,.: ~,,.. ,:7'l ,: :',- of f : c , ' lO l,l ~,j d 1, 3 , 0 _ hold eLs.tates, alma; i, les f or torn of years, otc. The Tables in the Legacy Duty and Succession Duty Acts, for deter mining values at adpeatiioci death, are fidneariLeadvfarloumesthfoersaomthl same data, a fi ta sc , al vv plu hich .. could be equally p poem THE LATE FATHER MATHEW AND THE PUKE OF WELLINGTON.—Tbe following story shows the great influence exerted by Father Mathew over the highest as well as the humblest of the sons; of Erin. In 1847 the leader of one of the temperance bands in Cork en listed in the army. He was the chief support of an aged mother, his wife, and six children. The amiable Father Mathew applied to the colonel of the regiment in vain for his di , charge. Being dißappointed, he wrote, con trary to the advice of his friends, to the commander of -Tit ;tLi letter a. Jartr. , e Duke of \\T `'' lington pr,bents his compliments to the Very Rev. Mr. Mathew. He could not refuse his application, and has directed the discharge of the soldier he desired." Sp.—First toll me what is the estimated value of the property in Great Britain ? Ch. of Ex.—lt has been estimated by the best statists to be worth 5,000 millions. Sp. —lt is more than that, as your Income Tax returns demonstrate • but I will assum e th a t your fi gures are cor rect. Now tell me, what is the average annual charge on the country for national purposes? Ch. of Ex.—Say, in time of peace, about - 0 Sp. (sharply)—Then 5,000 millions cannot pay 50 mil lions, or, in other words, 5,0001. cannot boar 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 xi, however, some 10 millions at the most that you aro called upon to supply, now that the war is over; and you are bold enough to tell me that 5,000 millions cannot pay 10 millions, or, iu other words, that a tax of 45. on the 100/. in value would be an intolerable and insupportable burthen on property. You might just as well try to convince me that Iloneygrub and Millionnaire, of Lombard-street, are unable to pay their police rate. The simple truth is, you delude yourself about the excessive pre,sure 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 sot, 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., 2E, or 301., which is the very life-blood, bone, and sinew of himself and family; adding mockery to injury, by offerinc , him a receipt for Property Tax. You then collect 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 open 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 £4lO pays 1-41st of his property. 13 with £4167 pays 1-66th of his property. C with £9Ol pays 1-fi3th of his property. D with £1,216 pays 1-121st of his property. E with £1,667 pays 1-166th of his property. P with £2,038 pays 1.203 d of his property. G with £2,228 pays 1 222 d of his property. 11 with 1;2,593 pays 1-259th of his property. I with £3,222 pays 1-32'd of his property. I.£ with £3,750 pays 1-375th of his property. (Spirit continuing with dignity, and rising into the style of the late Sir R. Peel.) Thtis, sir i by a simple appeal to the invaluable science which I left for the guidance of an attentive world, I have shown to ydu that your income tact is, in fact a graduated properly tax—the gradation of the scale ox taxatiln proceeding in the in verse ratio of fairness, sound policy, and ability to sustain the burthen. Prom neglect of that science with which my name is imperishably associated this evil has an -on, and has been perpetuated ; and terrible has been the punishment which retributive justice has indicted an the degenerate sons of those who were my pnpils, and admir ng discipleS. By a simple' return to the study of this' sublime rule of proportion, the tax on incomes may be re pealed, and a tab on property, valued as property, may be introduced. Time warns me that I must be brief, for at cock-crowing oar interview must terminate. There are two courses open to you; either repeal this tar 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 —"reading your history i n a " gr at e f u l " nation 4 s eye s ;"' or persist in the tax as at p resen t l ev i e d (to palter with or tinker it is useless), 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 (with choerfui aspect)=Ah,l these are points which I have invariably u rge d o n the Cabinet and advo cated in the house ; attention to the education of ,the masses, and compltitive examination as th e b as i s Cf ad mission to ClorkThips in otir public Sp.— You misinterpret my meaqing. Ido not now allu le to the masses Or to the clerks. Lot tis begin at the head Mid not at the feet of the scale; it will be time to consider the clerks then their betters are attended to, I wish you to communicate to the trills% people my de sire that they should attend more to the education of their representatives and head officials; let th es e, before selec tion, be put through a course of simple arithmetic, in cluding the first four rules, P ro p or ti on, and espee'.ally Re duction—a rule of which they appear to be latnentablY 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 Book-keeping, and published annually, before further sup plies are asked for. (The cock crows, the Shade of Cocker melts away ; the * Amongst other financial paradoxes resulting from the working of the existing system is the following :—lf a person has 3,30 J/. Consols and purchases 341. in addition, he is, by the transaction, a loser of 12.31. Thus, A has 3,3110 Consols, which p• oduce loss than 1001. per annum, he therefore escapes taxation, paying nil. He purchases 341. Consols, making a tmtal of 73,334!., winch ,?;ives an iccome of 100'. a year, and render., liabic Lo a i'Oductiou in tic pvulid.ll. 15s 10d; if the tax is made permanent, this is equal to a capital of 1591., so that he gains 341., and loses 1591, in pre sent value, or is iu a worse position by 1251. t Omitting Post-office, OroTra Lands, 4c.