The Sun. — London, England, 1856-12-29 00:00:00

kir 0 1 L A X 0 TO-NIGHT AT EIGHT. AR(4 YLL ROOMS. --LA tißEtir ASI Great Windmill-street, St. James's.—The above elegan Rooms are now open every evening i'r the winter PPP.SOP, with Laurent's celebrated Orchestra. Principal Cornet-a-piston, M. riotilconrt. The Proprietor begs to Inform the public that th , s fashionable place of resort has been entirely redecorated during the recess. Doors open at half-past eight, commence at nine. Admis kiotl One Shilling. - - 'FIR. KAHN'S ANATOMICAL MUS EUM 4, Coventry-street, Leicester-square.—Open (for Gentlemen Only) from 10 till 10, containing upwards of one thousand modelp and preparations, illustrating every part of the human frame in health and disease, the race of mon, &c. Lectures delivered at 12, 2 ,4, and half-put 7. by Dr. G. SEXTON, F.R.G.S. ; and a new and highly-interesting series of Lectures is now in course of (loltvery by Dr. KAHN, at a quarter past 8 p an. precisely. e Shilling. Catalogues containing Lectures as delivered by Dr. Khan (gratis). GORDON CUMMING, the LION HUNTER, will be AT HOME in his I,:nca.mpment, surrounded by the Ppoil% and trophies of his achievements, and give his ropular a NTF.R TAINKE.NT, describing his ADVENTURES in the interior of SOUTH AFRIC , every evening throughout the week, at A o'clock A. SPECIiI, AFTERNOON PERFORMANCE' n St TURDAY, at Three o'clock. Several imvrtant ad itions and embellishments have been made to the Hunter's Museum, and three new views illuctra tive of o•trich Hooting in the Karoo, the Death of the Giraffe and 'Vultures en their Prey in the Desert—painted by Samuel Beduin, added to the series of Dioramic scPnes. Thy Lion Hunter's native Bushmen will axpear incidental to the EntQrtatinment. riano Mr. Harries Wilson. ission, Is ; area, 25.; st:+l , s (which may be taken daily between eleven and four), 35.-232, Piccadilly. AWIDOW LADY, thorouedy acquainted with the routine of Housekeeping, is desirous of an ,nrage rnent as Domestic Companion to an ellerly or invalid Lady or Gen tleman or Widower with young children, where one or m To servants are kept. A comfortable home the chief con=ideratien. Unexcep tionable references given.—Address C. G., Mrs. Powell's, 4, Trinity street, Blackheath-hill. EAST and WEST INDIA DOCK COMPANY. —The Court of Directors of the East and West India Dock Company hereby give Notice, that a Half-Yearly Court or General Meeting of the said Company will be held, pursuant to the direction the Act let and 2d William IV.. cap. 52, at the Dock Houoe, No. 8, Ptthiter-square. on FRIDAY, the 9th January next, at which Meeting a Dividend will be declared on the Capital Stock of the Com rally for tke Half year ending the 31st instant. By Order of the Court. GEORGR COLLIN, Secretary. Bast and West India Dock House, 11, Billiter-square, 27th December, 1856. N.B.—The Chair will be token at Two o'clock precisely. LiONDON and NORTH-WESTERN RAIL WAY.-IMPORTANT ALT ERA.TIONS -JANUARY, 1857. The 9.15 a In. and 10.30 a.m. Trains from Birmingham to London Will he united In one Train; and he despatched from Birmingham at 9 30 a.m., arriving In London at 2.0 p.m. The 8.0 a.m. Train from Stafford to London will leave at 8.30 a.m. The 9.10 a.m. Train from Leaminzton to Coventry w 11 leave ;:t 9.35 a.m., and the 9.50 a m. Return Train from Coventry to Leam ington will leave at 10.15 a.m. The 10.15 a.m. Train from Peterborough to London will leave at 5 .15 a.m., and ceaec calling at Elton. The 11.30 a.m. Train from Northarnpeon to Ellsworth will leave at 14.20 no , n. The 12 5 noon Train fr - ra Bletchley to Bedford will leave at 12.15 noon. The 12.30 noon Train from Birmingham to London will leave at 12.0 noon, arriving in London at 3.30 p.m. The 12.20 noon Train front Leamington to Rugby will leave at 12 .5 noon. The 10.45 a.m Train from Birmingham to Leamington will leave at 10.30 a.m., arriving at Leamington 11.55 a m. The 11.30 a.m. Train from Rugby to Leamington will leave at 11.15 a.m. The 9.30 a.m. Train from Stafford to Rugby, and the 3.30 p.m. Return Train from Rugby to Stafford, will be discontinued. The 3.15 a.m. Third Class Train from Birmingham to London will leave at 8.0 a.m. The 8,30 a m Train from Leamington to Coventry will leave at 8 .15 a.m. A Mixed Train (First and Second Class) will leave Birmingham Tot London at 2.45 p m. By order. General Manager's Offlce,Euston Station, December, 1856. ETR OP 0 LITAN COUNTIES and 111 GENERAL LIFE ACSURANCE SOCIETY, 27, Regent- Street, Waterloo-place, London. Ca vital, 100,0001. TRUSTSK3. Spencer II Walpole,M.P. I Richard Spooner, Esq., M.P. /Fleury Peter Fuller, Esq. E. Vansittart Neale, Esq. Life Assurance business transacted in all its branches. N.B. The bonus declared vt till last divtdon or profits averaged 3 4 per cent. on all the premiums paid. F. FERGUSON CkItIROUX, Manager. UNION ASSURANCE SOCIETY (FIRE, LIFE, and ANNUITI S). ♦.D. 1714. Comb'll. and 70, Baker-street, London. College green, I)nts'in.—Gronengen street. Elambur4. Exchange-street West, and Tithe , ,arr , -street, Llverp )01. Non th Nelson-street, rdinhnrgh. Instituted in the reign of Queen Anne, • D 1714, with large Invested Fun•'s. DIRECTORS R.C. CnintuAN--JOAN IIE %, INGTON MILLS, Esq. DIPUTT-CMAIRMAN—HENRY ALDWIN 80.4.N1 ES, Esq. James Bentley, Esq. Thomas Bodley, Esq. Daniel Britten, Esq. Nicholas Charrington, Esq. 8 . s reston child, Esq. William Gilpin, Esq. Thomas .ewis, Esq. Thomas Mills, Esq., M.P. John Morley, Esq. LIFE. Roduced rates for young and middle ages, with guarantee of a Company in existence unwarde of 140 years, and a large accumulated Capital. The last Bonus (1655) gave additions to policies varying from 25 to 70 per cent. on the previous 'even years' premiums Lower rates, without profits. Two-thirds only of the premiums may be paid until deal' , . Decreasing and increasing rates of premium, and half-yearly or quarterly. Medical fees allowed. FIRE. John Paynter, John Rogers, Esq. Itt-nry Butt, Esq. George Spencer Smith, Esq hichd. fiersmiin Solly, sq. W. Foster White, sq. arnuel Wilson, Esq., Ald. Stephen Wilson, Esq. Insurances at the usual rates, and profits returned on policies taken out for seven years by p ompr payment. Lo see occasioned by ex plosion of gas made good. The offices close on Saturdays at two D'eock. excepting in the fifteen days after each quarter-day. Insurances low expiring must be paid on or before the 9th Janu -147, at the office in London, or of the respective agents. WILLI k Ai B. LEWIS, Secretary, RE AND LI I' E COMPANY, •street, London. :TORS. Esq., Chairman. S, Esq., Deputy-Chairman. John Martin, Esq., M.P. Rowland Mitchell, Esq. James Morris, Esq. Henry NOIIII3I, Esq. Henry R. Reynolds, Esq. John Thornton, E3q. James Tulloch, Esq. Henry Vigne, Esq. GUARDIAN FI ASSURANCE No. 11, Lombard- DIREC' 'RANCIS HART DYKE, 7IENIIT HULSE BEREN John Dixon, Esq. Sir W. M. T. Farquhar, Bad. Sir Walter R. Farquhar, Brt. Thomson Hankey, Esq., M.P. John Harvey, Esq. John G. Hubbard, Esq. John Labouchere, Esq. ' John Loch, Esq. Stewart Marjoribanks, ESC! AUDITORS. A. W. Roberts, Esq. i Henry Sykes Thornton, Esq. Lewis Lloyd, jun., Esq. I John Henry Smith, EEq. George Keys, Esq., Secretary. Samuel Brown, Esq., Actuary. LIFE DEPARTMENT.—Under the provisions of an Act of Par liament, this Company now oilers to future insurers Four-fifths of the Profits, with Quinquennial Division, or a Low Rate of Premium Without participation of Profits. The next division of Profits will be declared in June, 180, when ell participating Policies which shall have subsisted at least one year at Christmas, 1859, will he allowed to share in the Profits. At the five divisions of Profits made by this Company, the total reversionary Bonuses added to the Policies have exceeded 913,000 . At Christmas, 1854, the Assurances in force amounted to upwards of 4,240,0001.; the Income from the Life Branch in 1854 was more than 200,0007. ; and the Life Assurance Fund (independent of the Guarantee Capital) exceeded 1,700,0001. FOREIGN RISKS.—The Extra Premiums required for the East and West Indies, the British Colonies, and the northern parts of the United States of America, have been materially reduced. INVALID LIVES. ---Persons who are not in such sound health as Would enable them to insure their Lives at the Tabular Premiums, 'Day have their Lives insured at Extra Premiums. LOANS granted on Life Policies to the extent of their values, pro- Vidod such Policies shall have been effected a sufficient time to have attained in each case a value not under 50/, ASSIGNMENTS OF POLICIES. —Written Notices of, received and registered. MEDICAL FEES paid by the Company , and no charge will be Made for Policy Stamps. Notice Is hereby given, That Fire PoHoles which expire at Christ- Inas must be renewed within fifteen days at this office , or with Mr. Sams. No. 1, St james's•street, corner of Pall-m 11; or with the Company's agents throughout the kingdom, otherwise they become Void. Losses caused by Explosion of Gas are admitted by this Company. INVESTMENTS BRITISH MINES.-Full particulars of the most important Dividend and l'rogressive Ulnas will be found in the Fourth Edition of MRITISII M INEts CONSIDERED AS AN INVESTMENT, recently published 4s. by J 21 . 'MURCHISON, Esq., F.G.q.,F.5.5., price 3s. 6d. ; by post Mr. MURCHISON also publishes a QUARTERLY RETIEW of BRITISH MINING, giving the position and prospects of the Mines at the end of each quarter, the dividends paid, 8r c. The Review for the quarter ending 30 th Sept. l as t contains a Map of the Bassett di , triet, price ls. " The hook will be found extreme l y valuable."—ObServer. " A valuable little book."—Globe " A valuable guide, to lavestors."—Herapath. " A useful little volume."—Mornieg Herald. "Of great value to capitalists . Sunderland Times. " Parties requiring information on mining investments will find no better and safer instructor than Mr murchison."—Leeds Times. "One of the most valuable mining publications which ha' come butler our notice, awl contains more information than any other on the subject of which it treat.."— Derby Telegraph. "To these who wish to invest capital in British Mines, this wo rk le of the first importance."—Welshman. "This work enables the capitalist to invest on sound principles; it IS, in truth, an excellent gilds "—Plymouth Joarnal. Copies of the above publications can be obtained at Mr. Murchison's offices, 117, Rishopsgate-street Within, London ; and rellabb infor mation and advice will be given at any time to those who may re quire it. 212 0 MILNER'S HOLDFAST and FIRE RESISTING SAFES (non -conducting and vapourising) , With all the improvemen , s, under their Quadruple Patents of 1 840-5144 and 1455, including their Gunpowder Proof Solid Lock and Door (without which no Safe is secure). THE STRONGEST, BEST, ♦ND CHEAPEST SAFEGrARD ExTANT. MILNERS' PIRENIX (212.) SAFE WORKS, LIVERPOOL, the Most complete and extensive in the world. Show-rooms, 6 and 8, Lord -street, Liverpool. LONDON DEPOT, 47A, MOORGATE STREET, City. Circulars tree by post. MRS. GORE'S NEW NOVEL, A LIFE'S LESSONS, Is now ready at all the libraries, in 3 vols. "A gra - eful story, with a deeper touch of hum..nity than is cus tomary with this authoress There I. a refinement throughout which bespeaks it the work of a gentlewoman.' —Atheneum. Hurst and Blackett, Publishers, successors to Henry Colhurn. 4 NEW ♦ND IMPORTANT DISCOVERY IN THE SCIENCE OF MEDICINE. Patent Mice Seal of Oreat Britain. Diplome d'Ecole de Pharmacia Pharmacies de Paris. Imperial College of Medicine, Vienna. TRIESEMAR No. 1,2, and 3, prepared in the form of a lozenge, devoid of taste or smell, and can be carried in the waistcoat pocket. Sold in tin cases, divided into separate doses, as administered by Valpeau, Lallemand, Roux, Ricord, &c., &c. riIRIESEMAR No. 1 is a Remedy for RE LAXATION, SPERMATORRIKEA, and all tne distressing consequences arising from early abuse, indiscriminate excesses, or too long residence In hot climates. it has restored bodily and sexual strength and vigour to thousands of debilitated individuals who are now in the enjoyment of health and the Functions of Manhood; and whatever may be the cause for DISQUALIFICATIONS for MAR RIAGE, they are effectually subdued by this Wonderful Discovery. TRIESEItiAR No. IL, effectually, in the short space of three days, completely and entirely ersAicates all traces of Gonorrhcea, both in its mild and aggravated forms, Meets, Strictures, Irritation of the Madder, Non-retention of Urine, Pains of the Loins and Kidneys, and those disorders which Uopalvi and Cubebs have so long been thought an antidote for, to the tutu of the health of a vast portion 01 the population. TRU:SE:WAR No. 111., Is the great Continental Remedy far Syphilis and Secondary Symp toms, It also constitutes a certain cure for Scurvy, Scrofula, and all Cutaneous Eruptions, removing and expelling in its course all corrup tions and impurities from the vital stream, as altogether to eradicate the virus of disease, and expel it with the insensible perspiration through the medium of the pores of the skin and urine, and is a never-failing remedy for that class of disorders which unfortunately the English Physician treats with Mercury, to the inevitable destruc tion of the patient's constitution, and which all the sarsaparilla in the world cannot restore. Price lts., or four cases in one for 335„ which saves lls., and in 5/. cases, whereby there is a saving of 1/. 12s. To be had whalesale and retail in London, of Derby and Gordon, 140, Leadenhall,treet ; Prout, 229, Strand; Hannay and Co., n 3, Oxiord-street ; Sanger, 150, Oxford street. HUMAN FRAILTY ; a Popular Medical Work, price is., post frea, beautifully illustrated with 100 engravings, and containing the opinions of Valpeau, Lallernand, Roux, ItiCord, lie. It gives copious Me - ructions for the perfect restoration of those wko are prevented by impediments from entering into the married state, also showing the dreadful results from early abuse, gonorrhma, !tad syphilis, and the benefits arising from the chemical tests and examination of the spermatoza, by the author's newly-constructed raicroscope, with powerfld lenses Piper and Co., 23 ,Paterno5ter- COW ; anti from all a g ents for the sale of"Trioaeroar." CHEAP TRAVELLING.—Lras oor,, Dec. 26.—0 n this head app eare d i n himself the the Times, stating that a p erson Monday last a para,zraph underliP Baron Rocheau had stowed himself st y n l away n t g b in the mail eing g a iv b e le n s t e amer Persisapi,holflericonemc;c.Nnbnuentwt he ef o h r h k iam , : a ne n ol d fw, , hbeeenwadsischarg in ed, gcthhiveaercgaoenmytpopatinhayue having learned that he is of good family, who will pay the passage money. It appears bat he bad been unfortu nate in Prussia , and weiittoi:mer to push his for t u ne, and bad luck 'Ain attending him t h ere , and having lost his situation, he turned home. wards to Europe, taki n g this very odd way of seeking a passage. He had no baggage with him except a small bag. AN IMERICAN STEAM BATTERT.—The Harbour steam battery which bas been building at Hoboken for a long time past, by Mr. Steevens, is being roofed over, prepa ratory for winter, as the work has been suspended, ex cept on the engines. It is still carefully screened from public view, and visitors are seldom admitted. The original projector having died , the w ork is carried forward by a surviving brot her. Amon g the estimates of appropriation by the United States Government for the ensuing year is $86,717 for this enterprise. She has been planked up to the 'main deck with heavy iron plates, and amidships the planking had been ex tended several feet higher, for the protection of the machinery- It is understood that other layers of plates are added, so as to make a wall at least six inches in thickness, proof against shot and shell. The appropriation already made and expended for this object was $250,000. In addition a large amount has been ex pended by the builder in the excavation of the dry dock in which to consuuet the vessel. The length of this iron bat tery is about 400 ft. She wil l be equipped with a heavy armament and furnaces for beating shot, and he propelled by steam-power at unusual speed. It is asserted that she might be run into any ordinary vessel, cutting her in two. This work was commenced after a long series of experiments, under the supervision of Commander Stewart and Col. Patten, representing the army and navy, to determine the penetrating power of common shot upon plates of iron. Their report was satisfactory, showing that wrought iron plates, 41 inches in tbickne,s, formed a perfect defence against a solid 641 b. shot, fired at a distance of 10 yards, that successive layers of it n plates, with intervening spares, were equally effi cacious. The Secretary of the Navy was soon alter authorised to contract for the work here noticed. Fur harbour defence such a craft as this mu,t prove highly efficient, moving about rapidly, choosing its positions at pleasure, regardless of the most formidable missiles of the enemy, and hurling its heated shot and other projec tiles in every direction, the havoc committed would be fearful. The cost of this "infernal machine," complete, has been estimated at 1,000,000 doll.—Ncio York Jour 'nal of Commerce. 20,133.) PIItsLICAT ONS, MR. JEAFFRESON'S NEW NOVEL. Now ready at ad the libraries, in 3 vols., ISABEL ; the Young Wife and the Old Love. By the uthor of " Crewe Rise," Sec. '• Isabel' is a novel In which the author maintains the good posi tion his first work obtaine for him."—Examiner. present work, we are satisfied, wid keep up the popularity of Mr. Jeaffreson's pen. It abounds in clever sketches of society."— John Bull. " An excellent novel."—Observer. Ilurst and Blackett, Publisher., 13, Great Marlborough-street. NEW EDITION. This day Is published, in octavo, price 12s , the Second Edition of BOTHWELL; A POEM. By WM. EDMONDSTOUNE AYTOUN, D.C.L., Author of " Lays of the Scottish t'avaliers," &c. William Blackwood and Sons, Edinburgh and London. This day is published, in fc•p. Bvo., price is. Gd. cloth, a New Edition of L AYS of the SCOTTISH CAVALIERS, and other Poems. By WILLIAM EDMONDSTQUNE AYTOUY, D.C.L. William Blackwood and Sons, Edinburgh and London. This day Is published, in square Svo., with Illustrations by Leech, Doyle, and Crowquill, price Bs. Gd., cloth, gilt edges, BON GAULTIER'S BOOK of BALLADS. William Blackwood and Sons, Edinburgh and Londe% In small Bvo., price Is. cloth.. F lIIMIL/ AN: A Spasmodic Tragedy. By T. ERCY JONES. 'William Blackwood and Sons, Edinburgh and London. BLACKWOOD'S MAGAZINE or JAN'UARY, 1857. No. CCCCXCY. Price 2s. 61. CONTENTS, Scenes of Clerical Life.—No. I. The Sad Fortunes of the Reverend Amos Batton. Mrs Barrett Browning —Aurora Leigh.' The Athelings ; or, The Three Gifts.—part VIII. New Facts and Old Fancies about Sea Anemones. A Christmas Tale. Routine. John Decastro : A Quaint Rechauffe. Maid Barbara. European Politics. William Blackwood and Sons, Edinburgh and London. BENTLEY'S MISCELLANY, Price Half-a-Crown, For JANUARY, contains—How the World Wags.—The natre of Mincing-lane. By Dudley Costello.—The Second Congr, ss. —Anecdotes of the Parisian Theatres. The Enchanted Hare of the Ardennes.—Surface-life.—iludibrasties. - Doing the Dun.— Trip to Baktchi-Sarni —Gallery of Theatrical Portraits. I. William Farren. By T P. Gri!,sted. —S'hakspeareana : Collier and Coleridge. —The Spendthrift (concluding chapters ) London: Richard Bentley, New Burlington-street. COLBURN'S NEW MONTHLY GAZINE. Edited by W. HARRI ON AINSWORTH, Fsq. CONTENTS FOR JANUARY. No CCCCXXXI[I. Marmont, U c de Raguse. Lost and Found. By the Author of " Ashley." 1 he Tiger Killer. Recent Discoveries in the Holy Land. The M.gic Bell. By I'ncle Adam. A Swedish Voyage Round the World. Translated by Mrs. Bushby. Joshua Tubbs. By E. P. Rowsell. History of the Newspaper Press. By Alexander Andrews. '1 he TAIL er and the Worker. By J. E. Carpenter. An Italian Sketch —1855. By Florentia. Tha-keray's Nowls. Venedey's .istory o the German Nation. Di; lomacy— Fo eign Affairs. By Cyrus Redding. Chapman and Hall, 193, Piccadilly. Sold by all Booksellers and ewsmen. The Second Edition, just published, price 55., by post free, ss. 6d., 61T RICTURE OF THE URETHRA. TUE PATHOLOGY AND RATIONAL TREATMENT of STRICTUR of the URETHR t, , n all its Varieties and Compli cations, with Observations on the Use and Abuse of Instruments in the 1 reatment of Diseases of the Urethra. The whole Illustrated by numerous Cases selected from the Records of upwards of Twenty Years' extensive and successful Practice. By F. B. COURTENAY, IILE.C.S. E. W e know of no man to whose care we would sooner Intrust the treatment of a severe stricture."— Medical Circular. London: H. Bailliere, 219, Regent-street. lURSUANT to a Decree of the High Court of Chancery, made in a cause Wooldridge a..ainst White, the Creditors of Thomas White, late of Pile I i ill, in the parish of Bishop stoke, in the county of limits, yeoman (who died in or about the mou'h 0 , April, 18 7, 5)), are, ty their solicitors, on or before the •i9th day of January, 1857, to come in and prows their debt , or claims at the Chambers of the Vico-Chancellor Kindersley, at No. 3, Stone buildings, Lirmoin's-inn, lhldilesex, or in default thereon they will be peremptorily excluded from the benefit of the said Decree. Monday. the 2d lay of Februar, , 1557, at 12 o'clock, at noon, at the said ,2hadabers, is appointed for hearing and adjudicating upon the claims. Dated this 18th day of December, 1956. Cirl AS. PUGH, Chief Clerk. LEWIS, W 'OD, and STREET, 6, Raymond-buildings, Gray's-i. n, Agents for WOOLD ttIDZE and SON, of Winchester, Plaintiff's Solicitors. CANCER HOSPITAL, London and West. Brompton.--Fecretary's Office, 167, Piccadilly.--This Instltu ion has been e• tablished exclusively for the treatment of the poor sffficted with cancerous diseases. Out-door patients to attend at 167, Piccadilly, on Tuesday a, at 2 o'clock. In-door patients are admitted at the itrompton Estalislement, for one month, and for a longer period if recommended by the edical officers. The number of per one under treatment as in or out-door patients have averaged for the last three years about 400 cases each 7 ear. Since the foundation of this hospital in 1851, 1,799 poor persons, suffering under ever, form of this dreadful malady, have received the benefits of this Charity. A Weekly Board manage its affairs, an d every informa tion connected with the Institution may be obtained on application to the Secretary. Contributions to enablQ the Committee to continue this reat work of benevolence are urgently solicited, and may be paid to William Loxham Farrar, 1!;:.q., the Treasurer, 66, Lincoln's- Messrs. Coutts and Co., Stra n d ; and at the Secretary's Lincoln's inn-fields; 167, Piccadilly. By orrier. W. J. COCKERILL, Secretary. OYA.L FREE HOSPITAL, Gray's-inn-road. Patron — the QUEEN.— Founded 1828. The AlCli poor are admitted ..n their own application alone; no re commendation is required. urine the past month the following, number received the benefits •I this Charity, either as out or in-door patients, on their persona] ..plicaton : Week ending 7th November ...... 2,154 Ditto 14th November .. •• • • 2,043 Ditto 21st November...... 1,972 Ditto 28th November.. •• 2,309 29th and 30th November ••• • . ..... 269 Total in November .• 8,747 . 1 which 2,775 were new cases, the remainder (still tinder treat .lent) having been admitted previously. The clergy of all denominations have unlimited access to the patients. . 11 eavy expenses are Inevitably incurred in affording such exten ,e relief. The Committee, therefore, earnestly entreat the aid 01 the public. early elected f rom t h e general li st o f su b scr ib ers , The management of th e Ho s pital is in the hands of a3to the Annual General Meeting in January. A Board is held every Thursday, at o'clock (ltev. J. B. Owen, Chairman), to conduct the business, when any subscriber may attend, if so disposed, the Board being at all times desirous of receiving suggestions or giving explanation. The Hospital is not endowed, but is wholly dependent on volun ary contributions and lftacies, which are received by the treasurer. rohn 3rasterman, E•q., M P., Nicholas-lane ; also by Messrs. Coutts and Co. ; Drummond and Co.: Berries and Co.; Ransom and Co. ; Prescott, Grote, and Co. ; Smith, Payne, and Co.; Glyn and Co. ; tones Loyd and Co.;.;arclay and Co.; Denison and Co.; Williams. Deacon, and Co. ; Overend, Gurney, and Co. ; Nisbet and CO., Ber ners-street ; Masterman and Co.; and at the Hospital. Clothing for the destitute patients will be thankfully received. By order. J. B. OWEN, M.A., Chairman. ' ,Z- ---/t r )~~ . ~ /~L ~l 414144••-.., fru / •'i• .:' .1 1' •• , •,. -, , , -."'"':*•-• ...4, _ , -i.....-,••. ! ,1,7': ~ I .4- . . .. ....- ..• • , ......,.., ... • ~ . . ..... v , '' '*. .. 1 :: ,t;t;, . •t' ) : 43 -4 ........._' ._... _• . , • ~.. . .... ~ , hi it.,, P! ••• . , .., , . . • --. Cc-. .... i• , t P"` ... ' .4 \ ' ''-', - 4'''))- - N ''' k. ; 4 4, ~ ' ' ...•._ _ __,- f _ , ,_ _ __ _L _ i) :A, - \\ ''• .. ' f 2 5,/ , ) $.,---- 'A •-' ^,,,, _- „ , ~ t „,,,,, ~.., ~ . , - .:;,g .• ,L., 44 ,,..., 6t i ~... . . , , , / 4 S; h . : ft ' ...4 ,o' l• t2if •, . .• / A lt \ \ VOI ' !-..-. ' i'•'' . . ~, . -• •••••,t , ‘• • ----.- ~,,••, ---- -',., • ''''' '' ' .** '''' ' * ....--*'''''.--:„;--,?„- 4- 4 - -.-., 4 4r :, : 4 ,4 11 , 111 % —l •k ......,' ... ,17 1, r te_7..^, ,‘ • ~,....' tj. ''' 4,' , '! * ' ••• 4" ,••• • ' • ‘ , O, 41 111. . lilt N,,,..„.„ ~,„ ~ __ ~0 'l.. DIET 4 ! , i, .4:r. 4 , 7.x.. 4, -- iO , ~ .. .. • , noi T , . flik 1 - 21\ - 41111 Pr--- ' 'N.:. • •, ' "' ' o - .- - 4 , t , ' ..^c., ••...". . „:„,• no \ -- -- - -c-c-- - • - . ~ -`y -f L [PRICE 40. STAMPED aD. with its wings into a soothing sense of security and repose the unconscious object from whom it extracted in full stream the current of life. (The Chancellor exhibits signs of impatience and dissent.) Sp. (continuing ) —llo you posssess the works of my- dis tinguished cotemporary and present coadjutor, Adam Smith ? ! Ch. of Ex.—l have his works, and fiequently consult them. Sp.—Then turn to the Fifth Book, part 11., of his " Wealth of Nations," under the head " Of Taxes," and read what you find there written. Ch. of Ex. (reading.)—l. " The subjects of every State ought to contribute towards the support of the Govern ment, as nearly as possible, in proportion to their re sp3ctive abilities. The expense of Government to the in dividuals of a nation is like the expense of asanagement to the joint tenants of a great estate, who are all obliged to contribute in proportion to their respective interests in the estate. In the observation or neglect of this maxim con sists what is called the equality or inequality of taxation." Sp.—Very good. Now answer me. Is your tax on pro fits levied in accordance with the equitable and politic dictum of Adam Smith? Ch. of Ex.—Wei, that is, my respected predecessors and myself, have anxiously considered the subject, with the view of rendering the operation of the tax as, equitable as possible, and finding the subject surrounded with difficul ties, (interrupting)—Shirked it upon the House of Com mons. Ch. of Ex.—ln one sense we did so ; that is to say, we moved the appointment of a select committee of that Honourable House, which resulted in— Sp.—l know; a blue book, and an outlay of 1,0001. in printing. Ch. of Ex.—The Committee reported the evidence, and that it was extremely difficult, indeed impossible, to levy the tax more equitably. Sp. (with indignation)—l'll simplify the matter for them before I have done with it. Ch. of Ex —I must admit, sir, that the tax is not strictly a property tax ; but how do you prove that the burtheu falls in the inverse ratio of equity and fairness ? Sp.—l shall make you prove that. Get me down a copy of my Rudiments of Arithmetic. Ch. of Ex. (producing a dusty volume)—Here, sir, is a copy of your invaluable treatise. Sp. (sarcastically)—Yes, "invaluable treatise" indeed; you may work a sum in the dust upon the cover. Ch. of Ex.—l must plead guilty of neglect of the science which derived additional listre from your Sp. (interrupting impatiently)—Can you find the Pre. sent value of an annual sum? Ch. of Ex.—l think I can, aided by your useful manual. Sp.—Then find me the present value of 1501. per annum for three years ; interest at 41. per cent.* (The Chancellor of the Exchequer works laboriously, while Shade of Cocker arrives at the result, by mental arithmetic of course.) Ch. of Ex.—l make it 4161. Sp.—That is right, nearly. Now sit down and find me also the present values of 1501. per annum, for 5,7, 10, 15, 20, 23, 30, and 50 years, and in perpetuity; and place the values, when found, in tabular juxtaposition. Ch. of Ex. (after considerable pause).—Here are the re sults, sir, in a tabulated form. THE PRESENT, OR PROPERTY VALDES or £l5O PER ANNUM FOR SHE PERIODS UNDERMENTIONED : 3 5 7 10 1. 20 23 30 50 n Per Yrs. Yrs. Yrs. Yrs. Yrs. Years. "ear.. Years. Years. petuity. - - - - -- £ .£XXX £ £ £ £ 4i 6 667 900 1216 1667 2038 2228 2593 3222 3750 Sp. (encouragingly)—Very well ; now answer the a few questions. The sums you have found are the property values of 1501. per annum? 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 1,6671. and in perpetuity it is worth 3,7501. Sp. (angrily)—And yet you levy on all three the same stun annually, notwithstanding the difference in value to the possessors. Co. of Ex.—llow so Sp.—What tax do you levy on an income of 150/. per annum ? Ch, of Ex.-101., being ls. 43. in the pound. Sp.—Just so. You make a property worth 41V. pay 101., and another worth 1,667/. pay 131., and another worth 3,7501. pay 101. Is this what yon call equitable taxation ? Can you work a comtnou proportion ? Ch. of Ex.—Yes. Sp.—Then furnish me with the results of the following proportions : If £416 pays £lO, what is that per cent. ? If £667 pays £lO, what is that per cent. ? If £9OO pays £lO, what is that per cent. ? If £1,216 pays £lO, what is that per cent. ? If 21,657 pays £lO, what is that per cent. ? If £2,038 pays £lO, what is that per cent. If £2,228 pays £lO, what is that per cent. ? If £2,592 pays £lO, what is that per cent. ? If £3,222 pays £lO, what is that per cent' If £3,750 pays £lO, what is that per cent.? Ch. of Ex. (having worked out proportions)—Hera are the several results : £ d. A with £416 pays it the rate of 2 8 0 per cent. B with £667 Pais at the rate of 1 9 11 per cent. C with £9OO pa -e at the rate of 1 2 2 per ceht; D with £1,216 - pays at the rate of 0 16 5 per cent. E with £1,667 pays at the rate of 0 it 11 per cent. F with £2,038 pays at the rate of 0 9 9 per cant. G with £4228 pays at the rate of 0 8 11 per cent. . . II 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. K with £3,750 pays at the rate of 0 5 4 per cent. Sp.—Now, air, you see the operation of your tax. Pro 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 ss. 4d. per cent Ch. of Ex. (submissively)—That is so, sir. Sp.—And you think this a near 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 4,000/. stock on land; imposing upon one 48s. per cent. property tax, and upon another ss. 3d. per cent. only. Again, you think it fair to tax the Long Annuitant, whose income expires in 1860, and whose property sells now for 4161., according to your own calculation, at the rate of 435. per cent. on the value, while you impose on the owner of annuities expiring in 1880 (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. 4d. par cent. Ch. of Ex.—l fear the tax cannot be justified on the ground of equality. Sp. (with dignity)—l 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, I fur nish you with a scale which I have prepared, to inform all classes at what rates the tax falls upon them. (See Tables I. and II.) Ch. of Ex.—Pray do not publish your 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 an 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 ? 6p.—efore 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 very 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 notadvocate so imprudent a measure as the publication of the details of the expenditure of the several departments? Sp.—lndeed, I do 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 prisons, the police, the county courts, the Court of Chancery, &c. 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 re ceived by this or that official, disclosing the secrets of th e var i ous departments? It would be strikin g a blow at the roots of our politica l institutions. Sp.—l know it w ould, and shall take ate p s for promul gating. O h o m f y E views e o x n t r t e h m e istuy of b jec t his agitation forgetting the s piritual nature of his visitan t ) — l pray you, n ot act with precipitation in t h i s matter ; I pill spe a k air, do ill speak to ___ 4' The arithmetical term " present valu e " is emp1...t.0 property value or amount which would be paid repre sent the oyed down by a purchaser for any sum to b e received at a future p e riod or periods, so as to recoup the Nr e l laSer the Pr i n ce. p a l, with interest at a given rate. In commercial la n g u ' age ' it is the discounted value of a future paym en t o r payments. Thus 1001. to be received at the eud of a year is worth now 100/.,mitms the interest of 100/ . Inlike manner,tho vat " °f an i annuity of 1001. for three y ears ' i nterest is 1001•,minugo i year's interest, added to 100 1., minus two years' in other interest, added to 1001., minus th ree, years' interest; o r , words, the amount of th ree sums of NW. discounted respec tively for one, two, and three years. no 1 interest is always charged and allowed in such by common ing of the exact present value of an annual sum B r u esorted to. The arithmetic is at best a tedious process , l ifi v i e .d ; but all process, by logarithms is greatlY simplified' by the use of the calcula tionsfind- of the kind are almost entirelY :' num, constructed by Tables of the present value of i Acsalecu°lmai'omi c alculations, cilperbanerlaites-office London, John Smart, formerly of the Chamberlain all st'anda'rd works li treating , which Tables are to be fain" in ere multiplication of any 1 of compound i nterest. By them fraction, f oun d in the t a bles, into the annuity, the result is almost instantaneousbr found. Thus, if the value of 1501. per required, interest at 41. per cent., annum for three years is ta b e give, as tho value of 1/. per payable half-yearly, the be jug multiplied into 150/. gives 416/. minute, 2'775, which 58. as the result' resent values lies at the base of all This mode of tindinugr P chase and sale of freehold and lease calculations for t he . hold e states, P ties for terms of years, &c. The Tables in the ii-iegacy Duty "Lun and Succession Duty Alta, for deter , m i n i ng values at death, are derived from the same data, which cou ld be mull aPp 1 ied ix findiu valuta for ether fiscal pur• pQSOO. LONDON, MONDAY EV FN 1 a, DECEMBER :49, t r3bti I am never surprised at what Englishman of set if they have fair play. (Cheers ) But the exertions of the men by whom this school has been established do call for our most cordial admiration. Upon a former occasion there were some regretful complaints that the number of commercial travellers among our subrcribers was not larger. Let us hope for better things. No class charity can ever expect to have more than a certain proportion of that class among its subscribers. It is highly to the credit of the great body of commercial travellers, however, that two or three thousand among them are annual subscribers to the insti tution. But if there was not ono commercial traveller who subscribed this institution would in no degree be less worthy of our support. There are children of worthy per sons left destitute—shall we not provide a home and a re fuge for them? Look yonder (pointing to the gallery at the end of the room where the children of the school were standing) what does it matter to me, or to you, who are or who are not subscribers ? It is enough that we have done our duty—have set an example of that duty, and made clear to common sense the advantages which must spring from following in the course which we have commenced. (Cheers.) But such au institution, depend upon it, will never want supporters among these who carry on the trade of this great country. When we hare once reared life into usefulne,s, and ripened the mind into thoughtful intelli gence, we can then only conjecture what may be thelreat result of our labours. Franklin was once asked " What is the use of your discovery of atmospheric electricity ?" The philosopher answered the question by another, and asked " - What is the use of a new-born infant ?" No per- son among us can say what scientific discoveries may be made, or what light may yet be diffused over the earth by the soul of a single child. At the moment I am now speak ing this institution is preparing 150 of these human souls for the broad thoroughfares of human life—thoroughfares in which they may happily fulfil our objects, if we teach the pupils to walk without atbirabling or falling. But neYer let us forget that in a country as free as the air w• breathe every thoroughfare has its upward slope to fame and for tune, which may be reached by the steps of the zealous and the persevering. Your school may produce philosopher ■ and brilliant characters—such men have sprung from in- ferior degrees of education, and a much lower state of moral discipline than you can afford, and you may ulti- mately have your shuts in the guides and ornaments of society. This I will venture to anticipate, that the day will come, and some among you may live to see it, when the chair which I now fill will be occupied by some man who has risen into wealth and eminence in society, having been educated in your schools, and then, from the lips of that man, some applauding audience will hear that truth which can never be too often told, that not more surely does the harvest spring from the corn seed than do the races of man who sustain, ennoble, and enrich life, spring from the germs of intelligence and virtue which are sown in the hearts of children. (Loud and long-continued cheering.) The hon. baronet concluded by calling upon the company to drink " Prosperity to the Commercial Travellers' School." The toast was drunk with the greatest possible enthu siasm. Mr. G. ROUTLEDGE said ho had been requested to pro pose the next toast, and when he stated that it was the health of their distinguished chairman, he felt that his own inability to do justice to it would be overlooked in the enthusiasm with which they would receive the mention of his name. It would be presumption in him to dwell on the various attainments of the right hon. baronet, but it would be difficult for any one to speak of him without reference to the high talents he possessed as a novelist, dramatist, and a statesman. They had all reason to be much indebted to him for his presence, for ho had attended at great personal inconvenience; and when they thought of the able and eloquent speech ha had delivered on behalf of their institution, he was sure they would all join him in thanking him for the service he had rendered. He begged them to drink to the health of Sir Edward Bulwer Lytton. ;Cheers.) He hoped the hon. baronet would long enjoy that proud position he had attained, and long lire to be an ornament to the House of Commons, of which he was so worthy a member. The toast was drunk amidst great applause. The CHAIRMAN said he wished, first, to thank Mr. Itoutledge for the flattering terms in which he had pro- posed him health. It was peculiarly gratifying to his feel ings that the compliment usually paid to the chairman on those occasions s hould be addressed to him by a gentleman who had done so much to obtain for his works, and for works of a higher merit, a readier access to tho great body of the people ; and he had done more than that, for he had sent their books round the world, and he was sincerely rejoiced to find that they were perused largely by corouiercial travellers. Let him neat thank them for the waimth with which they had responded to the toast. The connection between literature and commerce was one that dated from remote antiquity. At boast they ,raced it as far back as those Phconician traders who were said to have invented letters, and every day there were fresh links connected between commerce and literature. (Groat applause.) He had read with much pleasure some numbers of a work, entitled " The Commercial Travellers' Magazine," and so strongly on his part did he feel that connection, that when he entered that room, amongst strangers to him personally, he yet felt as if he was coining amongst familiar friends. He trusted that on leaving it that impression would be reciprocal. (Cheers.) Now he turned willingly from himself to a toast which it was his duty to propose to them. At an early po. riod of the evening he said how much reason they had to be proud of their British traders, not only for their wealth and enterprise, but for their humane sympathy with suf fering and distress. To endorse a truth there was nothing like a ♦isible illustration, and on this occasion he would direct them for a personal illustration of what British traders were to the gentleman who sat by his side, Mr. George Moore, the treasurer of the society. He was an eminent example of tho qualities by which wealth was ob tained, and of the virtue in the exercise of which it should be spent. He believed he was proud of having been the architect of his own fortunes. When he came to London ho was but 17 years old, and was without a friend. At the ago of 22 he became a traveller for an eminent firm in the lace trade. His zeal and his abilities founded his reputa tion. That reputation led on to fortune. He became part ner in that great firm he had since so conspicuously ad- They knew how well he had since used his ad ♦antages for doing all the good in his power, in promoting charities for the relief of distress and for the education of the young. He had thrown his whole heart and soul into services of that nature with as much ardour as if he were again building up a fortune for his own children. So much zeal was sure to be successful—of course it had suc ceeded. He called on there, as friends of the institution to which Mr. Moore had rendered great services as its trea surer, to drink to that gentleman's health. (Cheers.) Mr. GEO. MOGRE said it was now 11 years since he had commenced to take an interest in these schools, and he felt more embarrassed on this occasion than ho had on any similar one, for their excellent chairman had pirated every idea he had in his head on the subject of the institution. (A laugh.) However, it was more his duty to give an ac count of his stewardship, as their treasurer, and to tell them how that large sum of money they had entrusted to him had been disposed of. He would, therefore, trouble them with giving them a few particulars of the results of his labours during the last eleven years. They had erected a building which they considered faultless. The cost, in cluding gas-works (for they manufactured their own gas), farm buildings, draining, water supply, and playground, was 22,221/. The architect's commission and law charges amounted to 1,2261., and that was a small item, he thought, judging from the experience he had had of both architects and lawyers. (Hear.) They had purchased 25 acres of excellent land, for which they paid 2,0001. That made an aggregate of 251,4471 They did not think their place would be complete without a lodge and two cottages for the farm labourers, and they had erected those buildings at a cost of 6001. That made 20,0471., and he would say there was not a better building in England than the Com • mercial Travellers' School. Both the architect and the contractor had done them ample justice. At the outset there were some fears that the site would be found too low and damp, but he was happy to say the climate was quite healthy, and the periodical reports of the doctor informed them that they had nothing to complain of in this particu lar. At this time they had in the schools 99 boys and 46 girls ; at the Monday's election there were received ten boys and six girls, making 109 boys and 52 girls, altogether 161 children. Their funded property amounted to 13,0001., which produced an income of 4001. a year. The annual subscriptions were 3,6001., making a total fixed income of 4,0001. Thishad been raised whilst they had been all along grumbling about the fewness of their subscribers. (Hear.) Their expenditure annually was now 4,5001., and he had no doubt they would he able to say when they separated that night, that, so far as general purposes were concerned, they were free from debt. There was sufficient room in their building for 145 boys and SO girls, altogether 225. If they calculated the annual cost of maintaining them at 251. each an expenditure of 5,6251. would be sufficient to take in all the building would hold, and that, he had a strong impres sion, would include all the orphan children of commercial travellers in England, Scotland, and Wales. (Cheers.) Up to this time they had not exceeded their income, but if they wanted to fill the building, they would require 5,6001. a year. Now they had at present 4,0001 . a - year , and the dif ference would enable them to fill it to the brim, and take in every orphan of a commercial traveller in England. It was the height of his ambition to expend the money they entrusted to his care seas to do the utmost amount of good, and he was gratified to inform them that out of 61 boys who had up to this time left the institution, there had never yet been one who had disgraced it. (Hear.) That was agreat consolation to them. He was pleased to tell them that one of the boys had subscribed the first tola guineas he bayed after leaving to become a life governor. (Cheers.) Thirty-five girls had left the school. Girls wore more difficult than boys to place out in the commercial world ; but they were all doing well, and one was engaged in a first-class school, and receiv ing a very handsome remuneration. The boys were mostly placed in drapers' shops and warehouses, and some of their friends, after they had taken one or two boys, had applied for m ore. That was a proof that their system of education was right, and that the boys were well trained to become men of business. (Hear.) It was now eleven years since he took the chair in that room, at a meeting of the commer cial travellers of England, to organise these schools. If he had a regret upon this occasion, it was that he missed some of the warmest and most ardent friends who had worked earnestly in their day, to do their duty, and had been called to their account. There were some persons who opposed; the establishment of the institution at its outset, and the principal one amongst the number was the party to whom afterwards a mother appealed to sup port her infant. At the commencement the commercial travellers subscribed 2,0001., and he had now the satisfac tion of telling them that they had on one day in October last, on the spontaneous act of the committee, again sub scribed in half-crowns, crowns, and other sums, 1,0791., and which had freed them from debt. Although complaints were made of the apathy of many, they must also acknow ledge the disinterested charity of a groat many, and especi cially of those amongst the travellers who had no families themselves who could derive benefit from the institution. In what he would have told them about their educational department he had been anticipated by their worthy chair man. Indeed, he had anticipated him in all, save in these figures. It was a proud day for him, although an embar rassing one, for ho could now hand over thistuilding to the commercial travellers of England out of debt. (Cheers.) He had published the accounts, and there were the re ceipts in full for all demands. All they had now to do was to advance the annual income from 4,000/. to 15,6001., and then there need not be a commercial traveller's orphan un provided for. The man who gave a sovereign to the society would lay it out to his own gratification, for he would ex perience the luxury of doing good, and there was no enjoy ment equal to that. (Hear.) He knew that Sir Edward Lytton had made a personal sacrifice in coming there that night, and he, for one, begged to thank him. He had thrown a lustre on their proceedings, and he hoped the Almighty would spare him many years to benefit similar institutions as he had theirs. He thanked them cordially for the attention they had given him. He felt that his occu pation was gone, for they had got their building, and it was clear of debt. It was, however, his ambition to con tinue to serve them in the same straightforward and honest way that he hoped he had done up to this period. Mr. G. HowELL proposed " The Lord Mayor and Cor poration of the City of London, and the health of Mr. Sheriff Mechi." . . Mr. Sheriff MECHI returned thanks. He need not tell them that the corporation was looked upon as an institu tion nearly worn out, but he thought it would still last a little longer. He believed our municipal institutions would exist as long as England valued her freedom and indepen dence. The corporation possessed certai❑ privileges, and they had obtained them in return for supplying the Go vernments with money in old times. At the present time also, if they wanted money at the West-end they came into the City for it, and if they did not in return give them the privilege of taxing coals, they allowed them to take 3 per cent. for it. Thus was the City of London like the beehive, where honey and money were made. He con: gratnlated them on the large amount they had collected. Ile hoped, however, they would not forget that there was another society that depended on them for support—that for the assistance of commercial travellers themselves. (Hear.) Mr. T. CIIAMBBRS, M.P., proposed " The health of the Presidents,Vice- Presidents, and Trustees of the Commei cial Travellers' Schools." Like Mr. Moore he felt condemned to silence by the transcendent eloquence of their chair man's speech. The lion. baronet said he came amongst them a stranger. Now Sir E. Lytton had not the privilege of being a stranger in any assembly where the English lan guage was spoken. The claims of the commercial travellers to the regard of their countrymen could not be overrated. It was upon their integrity that the credit of English com merce very much depended, and they were found fully equal to the responsibility. The gentlemen whose names he had mentioned for the next toast were a corporation, but un like the corporation of which Mr. Sheriff Mochi had spoken, instead of their coming from the '.Vest-end to them for money, they went to everybody for aid. He begged to couple with the toast the name of Mr. D. Cronin. (Cheers ) Mr. CRONIN replied, and The Rev. D. MooitH proposed " The Board of Manage ment," which was acknowledged by Mr. T. ROBERTS. Mr. W. DELARIIE proposed " The Commercial Travel lers of England," coupling with it "The health of Mr. T. Holt." That gentleman returned thanks, The remaining toasts given were " The National and Mercantile Assurance Office," "The Honorary and Medi cal Officers," "The Stewards," after which the company separated. The amount of subscriptions announced was upwards of 1,5001. The musical arrangements a era under the direction of Mr. Lawler, assisted by Messrs. Genge, Donald King, and Coward. The dinner, the attendance, and wines were characteristically good, and Mr. Harker went through his onerous duties of toastmaster with his usual ability. THE COMMERCIAL TIM VELLERS' SCHOOL. The anniversary dinner of this very important and ad mirable institution was held on Saturday, at the London Tavern, Bishopsgate-street ; Sir Edward Lytton Bulwer Lytton, Bart., 111. P., in the chair. More than 220 gentle. men sat down to dinner ; and amongst the gentlemen pre sent were many who were the principals of some of the great manufacturing and trading establishments of the metropolis and the provinces, kc.,—namely, Mr. George Moore (the treasurer), Mr. Thomas Chambers, M P., Mr. Sheriff Mechi, Mr. C. Blowers, Mr. W. Nicholson, Mr. T. Roberts, Messrs. Routledgo and Warne, Mr. Graham (of the firm of Jackson and Graham), Mr. T. Clarke, Mr. J. B. Gunter, Mr. J. R. Calor, Mr. J. G. Evans, Mr. Thos. Blake, Mr. W. Stockdalo, Mr. H. W. Russell, Scc. On the removal of the cloth, " The healths of her Majesty, Prince Albert, and the Royal Family," were pro posed in effective and appropriate terms by the CHAIRMAN, and responded to with hearty enthusiasm. The children were here placed in the gallery, and were afterwards paraded round the room, and then resumed their station in the gallery. Their appearance indicated all that could be wished as to health and cheerfulness. The CHAIRMAN, in proposing the toast of the " Army and Navy," said that he would simply give expression to two hopes and one conviction. His first hope was that it might be long before our gallant countrymen were called into active service, and his second was, that whenever they might be so called upon, they would only have to contend against their enemies in war, and not against the blunder ing of officials at home. (Loud and prolonged cheering.) His conviction was that at all times their gallant defender s would merit the same enthusiasm which had always greeted the victors of Alma and Inkerman, and which had sympa thised with the patient and long-sustained endurance of those who had been the conquerors of Sebastopol. (Cheers.) The toast was drunk with loud cheers. The CHAIRMAN next proposed " Prosperity to the Com mercial Travellers' School ;" and in doing so said : I call upon you to rejoioe in the prosperity of that institution in honour of which we are now assembled. In a neighbour ing country various attempts have been made at what they call " fraternity ;" but as they have insisted upon estab lishing that idea with the imperative condition of equality, so the first operation of fraternity naturally was to bring ►ll the brethren to an equal standard of size, by cutting down the great brother and trampling down the little brother. That process was found so remarkable that it brought the relation into such odious repute that at this day you could scarcely utter the very name of fraternity in the streets of Paris without some little brother informing against you, or some big brother committing you to prison. (Laughter.) Now, in England we have not attempted to establish fraternity upon the same plan. Far from assert ing the doctrine that all men are equal, we are willing to acknowledge those inequalities of life and condition which render it the duty of a man who finds himself comfortably seated at the top of the ladder to lend a helping hand to his distressed brother, who would otherwise - etas ve at the foot. (Rear and cheers.) Therefore our brotherhoods have been successful, because the bond which unites them is not a rope of sand—(hear)--but a strong chain which binds heart to heart and prosperity to distress by links of briman compassion and Christian charity. (Cheers.) Nor is there anything more honourable to our age and coun try than that these institutions, which are everywhere Found around us, are formed of the simple and disinterested object of doing good, of giving to penniless ago a refuge from the workhouse, to desolate childhood a fostering home, and opening up to it an honourable career in life. We are endeavouring to carry out those principles of hums• vity at the time when it seems as if the chief cares of the Mate were to provide for the children of felons, and to extend to the adult who may already have violated the laws of the country a chance of reformation, and a cheer ing prospect of an honest livelihood in the future. Now, I at; not stop to question or to criticise, much less to con .. . _ _ demi], that direction of a benignant and merciful policy ; but I do say that great care must be taken, or else it will be rather an advantage than not to be the child of a felon. Hear, hear.) But certainly tho children of honest men ought not to be much worse o 8 than the children of those who had "left their country for their country's good." (A Laugh). Therefore it behoves all honest men of this 13;o- therhood to be up and stirring in order to redress that balance of charity which would otherwise be falsely weighted, and which' might offer absolute premiums to dishonesty. It behoves us to be up and stirring in order to secure to the children of men who, though they may be beaten down by adversity, have been useful and honour able members of society, and to provide for them a home more tender, au education much bettor, and a career more promising than those which the professional thief may have the consoLdion of leaving to his degraded but interesting offspring. (Cheers.) That is the chief object of the so ciety which now appeals to you for aid and support. (Cheers.) We may well be proud of our merchants and traders, not only because of their wealth ani enterprise, and the commercial genius which have exalted this island into an empire, and made our shores the markets of the world, but for the more touching and sacred cause that pro sperity has never hardened their hearts, and that their wealth has ever been the treasury of the diAressed. It has been mainly by the sympathy, zeal, and indefatigable ex ertions of the traders of this country that we hare founded these magnificent institutions—charitable asylums, hospi tals, and schools—which are at once a blessing and an orna ment to our land. But among all such institutions there is ol.lvel e to commerce w co m e mmealy talk of honest parents. In Commeernctis.al none Travellers' more School. In what class of society can honesty be more essential than among those in which every lapse from honesty must be a breach of trust, where a man's certificate of integrity is in the confidence of his employer, whom habits of business naturally makes cautions and acute in the selection of agents ? That the children of men thus emphatically use ful should, by the premature death or disabling disease of such parents, be thrown upen the world without friends or without hope, and that, too, at a time when this good hearted m other country of ours is fostering at her breast and rocking in her arms the lawless offsprings of the Jack Sheppards and Jonathan Wilds of society, would indeed he a libel, a stigma, and a disgrace to the nation. (Cheers.) This society, however, does more than attempt to extend to these children an education and advantages immeasura bly beyond all that philanthropy can extend to the progeny of the felon ; it not only preserves the child from danger, but in the quality and degree of the education which it bestows it rewards the honesty of the parents. (Cheers.) I have looked - with great pleasure over the programme of the education bestowed at your school, and I rejoice to see it so liberal and comprehensive ; because if you have a standard of education merely rudimentary in its character, you would make no difference, or at least very little, be tween the child of the honest man and the miserable pupil of the ragged school or the reformatory. Now you take these children, according to your last regulation, at the age of five years, and keep them until the e o of go tenof fifteen. You have therefore a long interval years, which you must fill up with study of some kind or will other.apt them You naturally to he employment teach them n things ich to enter, but also those higher branches, which will which wh a dthey are enable them, as they rise into life, to add to the gene ral enlightenment of the body politic. I am glad to see that you are resolved that the children shall keep pace with a progressing age. Steam and railroads tend to make us wore than ever the citizens of the world, and cur tradel in order to maintain itself, must take advantage of all such modes of transit, not only in this country, but upon the Continent. You therefore act wisely in deciding that a certain portion of the years of education shall be occu pied by the study of those two modern languages most practically useful in the operations of our trade, and in the interchange of the wants of our commerce—l mean French and German. And I think it is not without some reflection and, for a practical purpose, that you have added to the study of these languages some insight into Latin. Not that I presume to predict that you will be able to vie with academies and schools purely classical, or that you will turn out very profound Latin scholars, but partly be cause Latin is the readiest key to such modern languages as are formed in some measure from it, but principally be cause there is no modern language which makes so much demand upon the observant and reflective faculties, which, when once roused, may be applied to all other purposes hereafter, as that Latin language which contains within its v u e n r l y ik g e r t a h m e na r grammar all of lic,th o a g tsymmetry of close reasoning which is as useful to the u n d erstand i ng as l og i c it se lf, b u t w hi c h, of children. T o this moraeresao(lliadpitnedstrtouctthieoncoraprehmpelenassioedn to see that you have added other lighter accomplishments, such as music and drawing. Not that dram ing itself is a mere accomplishment, it is also a useful art to persons en gaged in commercial and manufacturing negociations and transactions. I think that my friend Mr. Moore would tell us that a young man who was also able to give a clear sketch with his pencil of some fabric or pattern in manu facture, may dispose of them much better than he could possibly do by words, lot him take what time he pleased in expressing them, and therefore would his services be of greater value to his employer. Music, too, is one of those accomplishments the pursuit of which demands no extravagance, and the indul gence in which bequeaths no remorse. (Loud cheers.) I am not surprised to find that your theory of education bears the test of practice, and that commercial houses which have taken some of your pupils are always ready to apply for others. (Cheers.) Nor am I surprised at the immense rapidity with which you have established this institution upon so solida basis. Land has been purchased, schools erected at a cost of more than 25,000/. and you have a reserve fund of 13,0001. invested in government securities, and all this has been accomplished in the space of i two years. I am not, I nay, surprised at your success. A DIALOGUE ON THE IA COME TAX. The arguments in this pamphlet are so conclusive as to the unequal working of the income tax, as regards in come and property, that we republish it, fully conscious that it will convince any (if there be any) who may have hitherto entertained doubts on the subject. We remind those who may wish to have it in a more convenient form to go to Effingham Wilson, Royal Exchange. SCENE—An apartment in Downing-street, with blue books, writing materials, papers, and red tape. The Chancellor of the Exchequer is discovered, absorbed in anxious thought. Enters, rising from the ground, the Spirit of Cocker. Spirit of Cooker—What meddlesome medium bas sum moned me from my resting-place? Chancellor of the Exchequer—Forgive, illustrious shade, the unwarrantable intrusion upon your-- Sp.—Speak, I pray you, with brevity—my time is short, at cock-crow I depart ; speak also in sincerity, we deal not in soft sawder in the spirit-world. Who are you? What do you want with me ? Ch. of Ex.—l am the Chancellor of her Majesty's Exche . quer, an office of peculiar difficulty and — Sp. (aside, and interjectively).—Bosh ! Ch. of Ex.—And, knowing well the kindness of your heart— --- - Sp. (impatiently).—Spirits have no hearts ; confine your self to facts, and avoid metaphor. Feelings I possess—do not trifle with the.n. Ch. of Ex.—l humbly crave pardon. I was about to say that, being aware of the kindliness of your disposition, I thought you might be willing to assist me in a difficulty which oppresses me greatly, and I took the liberty of call ing you from the region of shades to solicit a word of your invaluable counsel. Sp.—You have my works ; I left them for the guidance of such as you. Ch. of. Ex.—l think I have a copy in my library of your invaluable work on the Science of } igures. Sp.—Don't attempt any deception: You may possess a copy of my great work, but it is clear you have never con sulted it. It would have been more respectful had you done so before disturbing my repose. What is it you want ? Ch. of Ex.—l was desirous, sir, of consulting you con corning the " unreasoning impatience of fixation ' on the part of many who have raised an outcry against the con tinuance of the property and income tax. Sp. (angrily). —No such tax exists. Ch. of Ex.—Pardon me, respected shade of departed arithmetical accuracy, if I presume to question— Sp.—Read me the title of the Act of Parliament. Ch. of Ex. (taking up act from table, reads).—" An Act for granting to her Majesty Duties on Profits arising from Property, Professions, Trades, and Offices, until," .S.:c.* Sp.—A tax is granted to her Majesty upon certain pro fits ; certainly not upon property, as you very well know. Ch. of Ex.—l stand corrected; but wo call it a pro perty and income tax. Sp.—l care not what you call it ; you may throw dust in the public eyes, but you cannot in mine—spirits have none. Ch. of Ex.—But, sir, "what's in a name ? a rose," you know, "by any other name will smell as sweet." Sp.—You will never make your tax sweet, call it by what na me you will ; it stinks in the p ublic nostrils. But let that pass; only we will, if you please, call it by its right name, "a Tax on Profits." Ch. of Ex.—But is it not in fact a property tax ? sp.—No, sir. Is your brain property. Is ingenuity property ? Professional skill, literary excellence, plodding well•directed industry, are these property ? Ch. of Ex.—No, sir, not in a commercial sense; but we tax property also. Sp.—You do, tho profits arising from property, but very gingerly. You lay burthens, heavy and grievous to be borne, en the profits of industry, but property hardly touches them with one of its fingers. Ch. of Ex.—Will you explain to me how the Property and In—l mean, tax on Profits does this ? Sp.—Listen, then, and I will instruct you. The Income Tax, as you call it, is a masterpiece of statecraft, originally invented by the late William Pitt ; it is a contrivance of surpassing ingenuity for extracting the largest possible pro portion of money from the pockets of the industrious and intelligent creators of wealth, in order that a proportionate immunity from taxation may be enjoyed by the possessors of wealth ; it is a tax upon the working bees of the social hive for the relief of the drones. The deep ingenuity of the contrivance consists of two things ' • first, the artfulness by which it deludes its victims into the belief that they are taxed equally or proportionately with other classes of society ; and, secondly, the facility with which it extracts the money from the pockets of various classes in precisely the inverse ratio of the amount of property possessed. In these respects I can only compare it to a bat which travellers wrote of in my day as infesting some southern climes, which lightly fanned * 5 & 6 Vict,, cap. 35. f"i~I~l~vl L ~' 6. A with £416 pays 1-41st of his property. B with £667 pays 1-66th of his property. C with £903 pays 1-90th of his property. D with £1,216 pays 1-121st of his property. E with £1,667 pays 1-166th of his property. F with £2,038 pays 1.203 d of his property. G with £2,228 pays 1-222 d of his property. H with £2,593 pays 1-259th of his property. I with £3,222 pays 1-322 d of his property. K with £3,750 pays 1-375th 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 burthea. From neglect of that science with which my name is imperishably associated this evil has arisen, and has been perpetuated ; and terrible has been the punishment which retributive justice has inflicted on the degenerate sons of those who were my pupils and admir ing disciples. By a simple return to the study of this sublime rule of proportion, the tax on incomes may be 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 tax- on profits at once and for ever, and substitute a bona fide, ad valorem. Property tax and go clown to pcsterity— which means come to us inthe spirit world—"readingyour history in a" grateful " nation's eyee ;"' or persist in the tax as at present levied (to palter with or tinker it i 3 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; .. Book keeping. 4 ' ('h. of Ex. (with cheerful aspect)—Ah ! these are points which I have invariably urged on the Cabinet and advo cated its the house; attention to the education of the masses, and competitive examination as the basis of ad mission to clerkships in our public-- now allude to the Sp.—Bold. misinterpretYomuassesortothe Clarks. s. the head and not at the foot, of the scale; it will b e t ime to consider the clerks when their better s are attended to. weaning. eti is begin d g at do not not I wish you to communicate to the British people my dn• 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 espec:ally 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 th em th e i r official duties; a slight examination in English history and the principles of English law may also b e su p era dd e d. 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 awry ; the Chancellor is discovered at daylight seated at his bureau, a trace of sadness on bis brow, but a wiser man.) TABLE I. The Present Values of Incomes for Tarious Periods cer tain, and Rates at which each ars Taxed. Present Proportion Value of Amount of Rate per •of Property Years. £l5O per Tax levied Cent. of " Ad Annum. Annually. T:lft:ioitti.. „......._Aktuittally --- -- I.: 2 3 416 10 2 $ 0 1. 415 t 5 6:37 10 1 911 I_66 t h 7 900 10 1 2 2 10 1,216 10 016 '''' 1 -121 s 1 -90th 15 1,667 10 0 11 ii 20 2,038 10 0 9 1-166th 23 2,228 10- 9 1 203 d 0 8 I I, 1 1 22:td 25 2,34:3 10 30 2,593 10 08 6 I-234th 40 2,965 10 7 8 1-259th 0 50 3,222 10 6 8 1-296th 60 3,393 10 0 ( 2 1-322 d 70 Talsle.—Al: i 3,509 10 0 510 1.335 th 80 3,687 10 0 5 8 1-350th 90 3,640 0 5 6 1 . 358 th 3,7soPeErgxeptluanitaytionoo 5 5 1-36ith 10 fifteeu years is worth 1 res-7, nc , • in! Tne.ol3lB T.I out! oesrti:in 0t1:1357057.thf, Explanation of Talele.—A tt i ncome cer t a in of 1501. I,r fifteen years is worth 1,667/ and paying 101. Income T‘x io taxed at the rate of Us. ild. Der cent. on the pr. moat in come in perpetuity value, being 1-66th Part of the propertp. A tthail " in : is taxed at SE. 4d. F P nits) is worth 3,750/., 't (say in the u t being per cent., ~ value.l-375th put of the TABLE 11. ()US Incomes, oujoya4l either for y for Labour, at various Ages. it., Carlisle rate of mortality. Present Values of Prey,. Life or during Capaci Calcul a t ed at 51. per CO ' Prelient Rate per Value of Rate per Present Amount Age. £l5O per peor f of T.ax cent. of Tax Xl5O per ce e ; ti o ri f ig Taz levied Annually Annan' Annually feArnLnuitT. Annually. during Life. Life. _ c du p rl_2 3, £ s. ti. d. 20 10 0 8 5 2,295 0 S ' 10 0 S S 2,208 09 0 i 8 2,20$ 10 0 9 0 2 , 119 0 9 35 12,119 10 09 5 2,008 00 11 10 0 011 1,897 010 6 4 40 5 2 1, 0 89 8 7 10 110 6 1,749 011 5 .50 1,749 10 011 5 1,532 12 12 10 55 1,552 10 012 10 1,341 014 11 60 1,341 10 014 11 1,164 017 2 G 5 1,164 10 017 2 950 11 0 70 950 10 11 0 74S 16 8 75 74i 10 16S• • 602 113 2 80 602 10 113 2. 481 21 7 85 I 481 lO 2 1 7 351 216 11 Explanation of Table.—The life income of 150/, of per. son aged 60 is worth 1,3411., and he is taxed on that value at the rate of 14s. 11d. per cent. As, however, men &i v generally incapacitated for active exertion before death, a column has been added, with the value of incomes at various ages, determinable at five years before death (which period is assumed as the average period of incaPa• city) ; the income of the same person, aged 6), will, upon this assumption, be worth 1,1611., and he will be taxed at the rate of 17s. 2d. per cont. ; a s i m il ar income in the Funds (see Table I.) is taxed at s s . 4d . per cen t. By the above Tables I. and 11. the va l ue s of incomes for periods certain, and also of precarious incomes. may be approximately ascertained, and the effects of the Income Tax upon them may be contrasted. * Amongst other financial paradoxes resulting from ;the 4/ ' whichp: oduce l ess than 1001. working of the existi ng system i f; the following :—lf a pe rson has 3,3001. Consols an d purchase s 3'/• in addition, he is, by the transaction, a l oser of 12 5/. Thus, A has 3,300 Coma, Is, per annum, he therefore esca .pc. taxation, payi ng l a ge purchases 34 /. Consols, ma.kis g a which total of 3,3341. , g i ve s au income of 1001. a ye., anil renders him li a bl e t o a reduction of 11 Ad in the pen:ad 1.-- - 41. the tax it ma de a 15s 10d; if permanent, this is equal t to capital of 15 v 9/' ' so t h a t he gains 341., and loses 1591, j i pp.. sent slue, or is in a worse position b y 1251 . t Omitting regt•oficts, Crown Lando, de. (1 , .//2 ' 4 Zafti le- , vrra i e, j..)oz at ti 7.e . I. s raaapay !PAM 4.0014 4 4411rE77 .1 9 - , more wortnily occupied th an b y yrniaelr. 8ut.at0rra...,, 7 "-::a-N a tg, vacant Garter is at his disposal, and would ,_ki.7,VUs offered for your acceptance. done.,•. ~.a, ... ra . t." .. : 1'µ4.,"':0 . 4., 1,7!„. Sp. (interrupting, with a hearty langb)—A gar - 2 , r. ;t-w": 0 1"5,7; "1,1 /, t s iCan a spirit's leg be invested with a garter ? -- • - r ~... _ , '''. a/ 1 "-i i Ch. of Ex. (awaking to as. rice -.a b:. position)- I - yiz„,,, forgot myself for a moment ; a dignity of t la .t, ki wo . 4 be somewhat out of pace. a,j,,, a s Sp. —Of unrse it would. Such things p oa , ess no va l ue le ' n "aakj. the spirit world ; from the oruer of the Seraphim of .Swe. den down to the Garter of Great Britain, all such decora 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 ? Sp.—A Property Tax. Ch. of Ex.—But have you uoi, deuronst , ratid tlier a lsd. culty of levying such a tax fairly ? s' Sp.—Not at all. I required you to demonstrate that your Income Tax was, in one sense a Properly Tax; not an equal tax on the value of property, but a grartuated sliding seals Property Tax, the gradation of the taxation being in a ratio inverse to the amount of the proper ty. Confound ing the produce of skill and labour with the interest aria 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 taxis a very different thing ; by that term I mean an equal tax ou the value of all realisable property in the country, so that if 1001. shall pay 1/., then 1,0001. will pay 101., and 10,C00/. will pay 1001. This tax being levied upon f a ir p r i nc ipl es, th ere c‘uld be no diffi enity in making all contribute ,- whereas von now exempt a large proportion of the property of the country, viz., that which belongs to owners of property up to about 3,0001. in value—while you inflict the tax in its 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. Sp.—lt cannot drive away the land, or hounds, or facto ries, or funds, or mines, or railways; such fears are alto gether delusive. Let me ask, however, have you no feara lest British industry, skill, and enterprise should seek more congenial treatment than they receive under your paternal management ? What would be the value of laud, 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? 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 be worth 5,000 millions. Sp.—lt is more than that, as your Income 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, in time of peace, about 50 millions 4 Sp. (sharply)—Then 5,000 millions cannot pay 50 mil lion, or, in other words, 5,0001. cannot bear the burtheu of 50/. annually ? Why, if all the existine buccal were swept away to-morrow, a Property Tax would produce easily all the revenue of the country. It ii, however, some 10 millions at the most that von are 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, in other words, that a tax of 4s. on the 1001. in value would be an intolerable and insupportable bar-then 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, yon delude yourself about the excessive pressure of taxation on property, whereas property has never yet felt the strain. Your taxes oppress not so much because they are excessive, ns because they bear unequally, and where there is not strength to support their weight. You set, so to speak, a pony to draw a la lon 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., 201., or 301., which is the very life-blood, bone, and sinew of himself and family ; adding mockery to injury, by offering 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 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— C