The Sun. — London, England, 1851-07-01 00:00:00

T E SUN, LONDON, TUESDA Y , form that opinion upon this sole, and to me perfectly satis factory, ground, that I cannot believe that a financier so able and so experienced, if he had contemplated that his law s h ould be a permanent law, wou ld h ave f rame d it upon to believe is one so muc h to b e d epreca ted. I am not about to entrap the House into a barren discussion as to the comparative merits of di rect an d i n di r ect taxation. In these days we are too apt perhaps to indulge in such dis cussions. I feel persuaded myself that ir you have to raise in a country lik e E ngland a revenue of the amount w h ic h _ 0? at present d o ra i se, it would be quite impossible to oh tale such results by adhering strictly to any particular mode Of raising our public revenue. I feel convinced that the _ se . reate rthe number, th e more var i ous the means o f su pply, ,fie greater w ill b e the facility of raising the revenue ; and sat. from layin g d own any pedantic rule to be adhered to as o . r ee mode of raising taxes - fu preference to another, all that !ha would uphold as the golden rule of all Chancellors of e Exchequer is, to beware that no tax, whatever farm Bußit may take, w h ether that of a customs duty, an exc i se uy, or a di rect impost, should in its nature be excessive. t although I will not enter into a discussion as to the .oisaparative merits of direct or indirect taxation, of this I 1 1,,.13 persuaded, and I can hardly doubt that a majority of ..9 1 House w ill sanction the propoeition, ' that if direct taxation is to form a considerable part, or even the more considerable part, of our financial system, it is of the utmost importance that the principle of that direct taxation should be a right oa2e.—!llear.) ISie I ' - -w, cannot for a moment agree that t U T Principle of direct taxation should be other than the ierki.ple of indirect taxation. lam of opinion, as I think shoulidgllkest as are of opinion, that direct taxation ray • ue as general, not to say as universal, as indirect been ..ation- (Re ar.) A n d , they opinion of believing that that must have Sir Robert Peel, the very fact that he e stablished his t ax upon income on so narrow a b as i s , t h a t ~F established exemptions on so considerable a scale, con than Me that in his use of that impost he had no other t P a temporary object —that he had no other object in than .iits thaterig iowallich he j ex — pressed this House, and tbat proposition, and in the renewal for which, i count original proposition, he prepared the . House and the t .Y, he was perfectly justified in adopting it wi t th . the!' 'taiiorary object in view. I hardly know whether 1 is ne ia_ c " s arY, or whether on this occasion I am justified in even wil . e hiag upon the consequences of adopting any other Principle in the a al application of direct taxation. In fact, if yell c ome forward tell us that the essence of direct taxa "mi is th a t i t should be lim i te d to a c l ass, th a t i t s h ou ld b e 4Ounded upon large exemptions, your impost is not so much i direct tax as a,. forced contribution."- (Loud cries of s ea - , hear.") It is a tax upon capital. It is a con ant invasion upon the fund which is employing labour, a .' d if carried to any excess, or continued for any l e n g th O' t mae, its inevitable consequences m us t, i n my o pi n i on , b e " e impov er an ishment d mise rof the community.— f Cheers.) I look then upon the policy which was pursued ,by Sir R o b ert Peel with respect to the income-tax, when by introduced it, and when, in accordance with the first speech he made on the subject, he three years after conti nued it, to have been perfectly justifiable, because his object being, a temporary object, he had then only to consider the p oli cy and th e exped i ency and the motile of attaining his temporary purpose in a manner the most easy and the most easible. B ut I must call the attention of the House to the fact that the present Ministry, in making a tax upon in emme the b as i s of their finance, were not actuated by the Iflatne principles as Si r R. Peel, and did not contemplate the :loriae use of th e i nstrument which they introduce to our no ll,htei.c With a cand our which I cannot too much pra i se, and h j full y acknowledge, th e Ch ance ll or o f the Exchequer, When he asked for a cont i nuance of the i ncome tax f or three years,il2c never for a moment intimated that his view of that of thlvelthat it was a temporary one. Had the Chancellor the tax c=hequer come forward and proposed the renewal of whether three years for the fourth time, I still doubt direct . he would have been justified in framing a great longer impost which had continued for a term much and which was than was contemplated by its originator, was again to be continued for a considerable, thoughee., e a_ definite, term —I doubt the policy of the Chancellor ii;aintlln •xchequer, even under these circumstances, in he did f aweta upon income on the limited basis on which 4, ask r it. But when the Minister of Finance tells us— c Yon to renew the tax upon income for the fourth have for another three years," and with a frankness which I ' i acknowledged informs us at the same time that we cannot contemplate the term when we shall be able to carry on our financial arrangements without the aid of such an `l ) B 7 i t t , and framed in such a manner, then I say that that ' and if e period wh en t h e Minister should have come forward, ' the • it had been hi s conv i ct i on that a large direct tax upon Ile Should have laid down the just principle upon which such led, pailleadEntount of direct taxation could alone justifiably be ap o the property and the industry of this country.— ' re- (Hear ,• b ear.) I may be told, as I have been told i.:, since that day, that there was no acknowledgment on the lr-'" s li_a_rt ,te.f. the Government that in their financial c n- /Es iiT t pi tion e the income-tax was to be a perpetual tax. this th e He le e, k an l the memory of Gentlemen on both sides of When I recall I am . sure they will justify my statement, ibex to . their recollection the catalogue of fiscal achievements which the Chancellor of the Exchequer in le a dal • • ged in, which he enumerated to an amazed audience, ' and isms the_ completion of which alone was indicated by him as the . . yuse te rm when this country could be free from this Impost. a:.O , (Rear, hear ), Sir, I have great confidence in the vitality of iii. lee_ existing. Government —( Hear, hear, and a laugh.) The 'nen which they have successfully encountered, the ca tastrophes which they they have'tort ' have evaded, and the crises which baffled - all indicate the possession, if not of im not A nd lt , Yet of enduring q u alities. —(Laughter, and cheers.) an y , i t i,, , lnallastsure the Noble Lord and his colleagues, though e for that I klly recognise to sit on this side of the table—( A laugh) wan they eee, their personal claims to the post which Views eet./•—(Laughter.) Sanguiee as may be their own o all that nes e ° arson templatedthe the term of their administration, I do not think Chancellor of the Exchequer could have con • °sett would everlProlonged as may be his tenure of office—that it tali coroplishme e his fortuas to achieve all those objects, the ac oder, thecount nt °f w hich he has laid down and announced to • d er:: .ati.rd. ine-omrYeaLtiteicsounod w ition of terminating the tax on property 'al fairl y conclude framed. Well, Sir, I think I may grs , feature • n , that the tax, as now framed, is a permanent otl• , 1 th Meals) ~, e financial schemes of her lalajesty's Ministers.— ou la ' h e ..._ '' ow, I beg the House to observe that in anything I oald ' an : e said lam making no objection to a tax on property been goose income. What I am directing the attention of the , re - s to is this—and I think it of the utmost importance ?,g i s . t this proposition of direct taxation is to form a more ion? co nsiderable portion o f our fi nanc i al system for the future This t han it has heretofore done, that direct taxation should be ions , f ounded upon the true p r i nc i p l e , and not upon the false one; "rora !Pon the principle which, in the long run, will be advan ught tageous to the community, and not upon one which, if it suc f the . teed, will in my opinion be most pernicious; that the prin- are tiPle which we apply to direct taxation shall virtually be Cher. the same as that which we apply to indirect , and that in its F this aPPlication we should attempt to make it general, not to idol), . say Universal. - (Hear, hear.) That is the only point that I er at am now enforcing upon the attention , and, I hope, the con as be \action of th e H ouse . It will be observed, then, as far as tie of the finan c i a l s t a t emen t o f the Minister this year is con ,(;) by earned, as f ar a s w e have it yet submitted to our wa s analysis, t h at i t was f oun d e d u p on a f a lse basis, main that it assumed that the income-tax, as at pre theseupon the sent . framed, should bs permanent ; and usual assumption of its permanence, or of its continuance, the ch is surplus estimated by the Chancellor of the Exchequer not depended. I shall now consider the measures which the se is Chancellor of the Exchequer brought forward, and which .eats, Were to be dealt with by the disposition of this assumed earl/ s urplus —a surplus assumed upon the continuance of a tax, ear.) false, dangerous, and pernicious in its principle, as every tax Ihich intending direct impost to a large amount, and the principle clear of which is not of general application, I maintain is. ; yea (Hear, hear.) The Chancellor of the Exchequer proposed e re - three measures of considerable importance, and one or two of garde • Minor importance. The first in rank was, no doubt, a prope -1 the sition for the repeal of the window •tax. It is unnecessary louse " for me to dwell much upon this point. The objections to the i this Window duty as it then existed were financial, or they were ,es Of ' social, or, as it h as b een th e f as hi on to ca ll t h em, sanitary. I ut no ' must stop to say that if the financial oppression of the it in" Window-tax was the great reason for ins remission, it is to be t has regretted that the Minister should have attempted only par con- tially to remit it. It would have been more advantageous, their had it been possible, that the tax should be simply and com a the • Pletely remised. The fashion has always subsisted, and arrive the present Government have followed it, in the division of Heart a surplus, very often to fritter away its virtue by apportion ?apa!- ing a par t to variou s i nterests of the community. —(Hear, 38 o f bear.) Now, in my Opinion, as a general principle, it is par- • tench wiser, if you have a surplus, to do something that is 1 the , efficient—(Hear, hear)---to discover what interest is most r in- suffering, what tax is most oppressive, and the remission of d an What duty would give the moat elasticity to trade, or add s not 1 1108 t to the comfort and the happiness of the community, is of than to think that as a matter of course the commercial it ac - class, the agricultural class, the inhabitants of the town, and cted, the shipbuilder should each have a share ; when it is very clear Possible th a t o f t h ese f o ur classes three may require no aid, in. —' and "rhea it is very possible also that by concentrating your def i f resources upon one subject of assistance, You may afford sub ienta atantial relief and succour.—( Hear, hear.) But I do not , Pon the so c i a l reason ea•- , d well upon thatpoint—nor will I dwell u have 'which might hav e b een an d was urged in favour of a remis es far as remis per' " ion of the window duty, except that sanitary ob pro- jects were concerned, I think they might have been attained d for without any loss of revenue. The reason that Ido not dwell • psed, upon the s u bj ect at all is, that I do not intend, as I said the atte ag ed. the 11th of' April, when it was my duty to solicit .. n -1 de. , tion of the House to subjects similar to the present—that I in a do not intend atall to cl•the licy of the ispute po . repeal of the lt I think sface window -tax I • accept that as a realised resu • t all :pect after all that has • g the unpopularity . passed, considering of e all viol tax, considering 'injuriouscharacter,and considering its j that nothing idea- that has occurred in this House upon the topic, t ito a could be more injurious,more impolitic more inexpedient, or F the than to disturb 'that rmission i and as far as the revenue .. l ins- derived from the concerned, I con tax upon windows is deed eider it blotted out from the Exchequer.—(Hear, hear.) , mat- I now proceed of a novel to a measure of the Ministers' . mse• character, in some degree connected with the tax which I, en I consider as en'irely abrogated, and that is the prop, 1 my ton embodied • housesin ax upon the Bill before us—namely, a t . ch I " Now, I ask the House to apply that sound prin than ciple of fin- . ance which in i n ion, ought to be one of our cardinal ' MY op ' • Liell S spies of finance—nam , . ely, that direct taxation 'should me r cyair* general as indirect taxation, to the measure af s f which is now be foreconsideration of the House. I ask the . tic , them to apply that searching principle to the Bill which has pint, been introduced by the Government for imposing . a tax upon de- houses. Sir, that fatal characteristic of the income-tax, tend Which was • troduced for a perfectly justifiable when it was in be sarY temporary purpose by Sir Robert Peel, but infinitely to tate - deprecated when revived for a permament purpose by the sion. present Government - namely, direct taxation, established 3g 6 on the most limited basis, and partaking •-• in no way of a Fe- general character, without the excuse of the Government having ;ta ils receivedat from their predecessors. I find that feature :ow' in an aggravated form in the house-tax. (Hear, hear.) The tees' Government hadtheir command with which they a supine at Bur- Might have completely and efficiently dealt with the ion ; Window -t ax. - ax. They had a surplus which would have allowed iof theca to rem i t the, window-tax, if they considered the re e o f Mission of that tax to be of paramount necessity, 'and I do t, he not dispute the position. But they do not remit the window t re- tax• It is a commutation— no t a remission— ( Hear, hear)— ouse and it has this fatal fault, that the commutation is a partial mite. cmumatation—•( Hear, hear.) Complete remission, or corn lace, piste commutation — these are the two principles which a hree financial Xi • nutter should pursue, But the Chancellor of the i the Exchequer not having the moral courage I will not say, but . tics the financi a l courage, completely to remit the tax on win i; re. down, whi c h he ought to have done i f he felt the necessity fin of doing it, takes out from the armoury of the financial nt of minister one of the most inestimable weapons sand uses it for cha- the most meagre and the meanest purposes.—(Cheers.) He the brings forward the instrument which is to impose a tax upon itro- houses —as just a tax in its principle as can well be con erai- ceived, and which every person who reflects upon the pre 'arty sent position of our financial resources must have always •able looked to as a most valuable aid. He brings it • forward, and r R• he do • es—what? He does not even effect a complete r . ernis that sion of th e w i ndow duties. He gives you imperfect remis sion and imperfect commutation, and he wastes those great 2be resources which are offered him by a house-tax tor a most racial limited • result. ._ and, comparatively speaking, contemptible ) the du d in doing this he not only does not obtain a • complete `mod - scu lftliatioD, thou though lte does obtain a partial one; but be a in ich ice !ha en ivi- ill ea as t he t, 'lO hip. t a nial oal ; ro silA- )Vin '1219: laxr ad owed. was' ad ug- nu' ito try ich -erY to violates that important principle which at no period more i Hon. Gentleman opposite—a great ornament of this House, than the present ought to be cherished by the House of one of its most valued Members, the father of the House— Commons—the right principle upon which direct taxation fr I believe he is looked upon in a paternal light—a gentle should be applied.—(Hear. There were other measures man whom I may fairly describe as being the most constant brought forward by the Minister on that occasion. A died- i and consistent supporter of the Whig Government—who, nution was proposed of the tax upon timber, which we have though he assumes to chide them, chides them in a friendly recently been discussing in Committee, and also of the duty spirit, and though he assumes to castigate them, castigates upon coffee. With the permission of the House I will them with the most affectionate remarks—(Laughter)—a address myself briefly to these subjects. I am not one of gentleman who, if you take a comprehensive view of his ca those who think that there is any abstract excellence in a reer, has always stepped forward at the right moment to ex- Customs duty—l am not one of those who think that, as a tricate a not &acid' , ly strong Government from the im rigid rule, or even as a general rule, you should remit an pending catastrophe—this most distinguished supporter of Excise eury in preference to a Customs duty. All that I the Whig Government (Mr. Hume) was the gentleman who would do when the subject of the remission of taxation was brought forward the motion to limit the income-tax, which concerned would be, to ascertain which duty is most op- was to have been continued for an aseured term of three pressive to the people and most injurious to their comfort years, to one year only ; and intimated, in a manner which and their industry; and whether I found that to be a Cus- has necessarily bound the House, that his object iu so doing toms duty or an Excise duty, that is the impost upon which was to submit that taxeo Parliamentary investigation of the I would lay my finger. Therefore I do not object to these most searching character, wish the view of terminating those propositions of remission on the part of the Chancellor of the inequalities— those circumstances that lead to fraud in it Exchequer because they are Customs duties. Assuming and that inquisitorial proceeding which it seemed to have been that the Chancellor of the Exchequer could prove to me acknowledged by almost everybody were believed to be ir that the remission of these Customs duti es would more bane- removable. What happened? That motion was carried. fit the subject, would give a greater impulse to trade, would The basis upon which the surplus of the Chancellor of the more tend to the advantage of the community than the re- Exchequer was raised fell from under the superstructure ; mission of an Excise duty, or any direct tax, I should prefer the fairy palace vanished in the night. That was no orcli remitting the Customs duties ; but my great objecti nto nary loss io the Chancellor of the Exchequer—that was not the remission at present of these two duties—though I shall merely a loss of income- tax for three years, though that was not now dwell upon this head -is that Ido not think we are a result which the finance eiinister must deeply deplore, but justified by the state of our revenue to remit any tax, what- it was, regarding the schemes of the Right Hon. Gentleman, ever form it may take, and whether it is a Customs duty or a loss of a permanent income-tax. It wasnot merely a three an Excise duty; because I imagine that our ability to do that years' tenure of the tax that was constructed and formed depends upon the fact of the existence of a surplus or not.— in the brief agitated epoch of the fraction of the present Far (Hear. ) But I must notice the plea upon which the remis- liamentary session, the ensuing recess, and the meeting of &on of the timber duty has beea put forward by the Right Parliament again ; but it was the permanent future of the Hon. Gentleman. The Right Hon. Gentleman says we owe financial Minister that was taken from him—it was the the remission of the timber duty mainly and principally to foundation on which was raised, not merely the present the builders of ships in this country. Well, I think that no superstructure, but on which, veer after year, he was to one will dispute the laardshipe to which the British ship- build up all those elevations which were to have formed the builder is now subjected— (Hear, hear) but a partial re- great future of our renovated and reconstructed financial sys mission of the duty en timber does not at all compensate tern.— (Hear, hear.) It is impossible to over-rate the im the builder of s hi ps i n thi s country for the competition to financial of that vote—impossible to deny that from it the which you now exposed him. You are giving up revenue financial position of this country has become an uncertain in this case without obtaining the result which you ought anti precarious one. Ido not blame the Noble Lord or his to achieve.—(Hear, bear.) Now, if you were to allow the colleagues for accepting that vote, with its consequences. builder of ships in these isles to build in bond, as has before From this side no taunt has arisen which would intimate to been proposed ; if you permitted him to use freely all the the Noble Lord that he ought to have resigned after the most articles that are necessary to the construction of a ship in decided manner in which that vote was carried. I think the England, and pay no duty upon them, then you would put Noble Lord and his colleagues acted in a much more honour him in fair competition with the foreigner who brings a ship able manner in not resigning office then. Nay more, that duty- free to this country, whilst the British builder is build- they acted in a dutiful and loyal manner in the peculiar cir ing his ship subject to a variety of duties.— (Hear, hear.) cumstances ; and after the events of this year it was their That is an arrangement which you ought to have made duty to retain their offices. They fulfilled that duty, and not when you repealed the navigation laws.—(Cheers.) When in an ungracious manner. But whilst lam willing to make you did that yen ought to have permitted the British ship- that concession to her Majesty's Ministers, I cannot agree builder to build in bond; then he would have been placed that their conduct was equally to be lauded in retaining net in a position which I deny that the proposal of the Minis- only their places, but the financial measures which they had ter, as far as the British ship-builder is concerned, will tend brought forward under circumstances so different, with to place him.—(Hear, hear.) There were other pro posi- prospects so different, from those in which they now found themselves. My opinion is that Ministers, feeling they were lions in this budget. There were propositions which were intended for the relief of the distressed agricultural interest, not so justified in retiring from office, but that it was their and I shall not dwell upon them. They are already duty to retain their responsible position, should at the same familiar to the House. Whatever was their value it time have announced to their eminent supporters who pro is unnecessary for me to calculate them, because no sooner Posed that motion, that he and his friends must take the *ere they offered than they were withdrawn. —(Hear, hear.) consequences of that withdrawal of the financial propo- But perhaps the House will permit me to make one observe- sitions which had been founded on the assumed conti tion upon the position of the agricultural interest with refer- nuance of the tax, and which were to be furnished by ence to the remission of taxation. I ventured to say just the surplus which had now only an imaginary ex now that in the remission of a tax, whatever form it might istence. Ido not think lam taking an extravagant or assume, all that I recognised as the valid reason for its repeal irrational view of the duty of the Government under such or remission was, that it should be the one which the Minister circumstances. But it appeared to me, as far as I could of Finance thought, on the whole, to be the most injurious observe the human nature opposite me, that the Noble Lord to the community. That, I think, ought to be the rule was animated at the same time by feelings of a very similar which should guide him in the selection of taxes for remis- character. There was a species of delay in the advance sion(Hear, hear.) Sir, I think there is another rule ment of the financial measures of the Government; they which ought also to guide a Minister of Finance, who is in never apeared in the paper—or, if they did, they were never the happy possession of a surplus. I think, if there be a noticed; not a single stage did the ever make of progress; particular interest in the country which is subject to great and it was generally understood - -I do no not speak of ru difficulty, is experiencing great distress, and incurring a long moors out of doors, or of those confidential communications and continued depression, that it is the duty of the Chan- which are made in-doors—but it was generally understood— and of the Exchequer to consider the state of that interest, perhaps it was a public conviction arising from such views of and to see whether the remission of any tax would tend to the situation of Ministers and of their duty to the country relieve it. Now, the House will recollect that at the corn- —but there was a general impression that the financial mencement of the year we were informed, by the Speech from measures of the Government were withdrawn. How many the Throne, that a very important interest was in a state of Cabinet Councils were held I would not venture to great depression, ant-of continued depression. The House state ; but this I know, a remarkable scene occurred will recollect that, shortly after, the minister proposed mea- in this House. One of the most distinguished metropolitan sures, the tendency of which was announced by him to relieve Members, who seemed to share in this conviction, arose in that distressed interest; and without requesting the House his place and demanded some information from the Noble to give an opinion now upon a question, to which I Lord as to the intentions of the Government. He wanted to refer only in illustration of the financial course taken by the know whether the window-tax was really to be repealed or Government this year, and not with any view to obtain an not, and the answer of the Noble Lord was extremely un opinion upon the subject from either side of the House, I ask satisfactory. The inquiry was again repeated another the House to consider the position of the agricultural interest night, and in a tone of menance, and the Noble Lord, turning now with reference to the question of remission of taxation. his back upon us, made a confidential communication By certain laws—the policy or impolicy of which form no which appeared to be of a deprecatory character. The part of our discussion to-night—we have agreed to place the effect was as if the Noble Lord was hustled by a Finsbury cultivation of the soil in this country in complete competition mob in Saffron-hill, or some place of that character, where with the cultivators of the soils of all o - her countries. Now, the pocket of the Minister was relieved of his financial Bur is it not obvious that it is the fir st dut y of the Government Pins. After a fortnight's friendly interpellat i o ns the Noble in remitting taxation to ascertain whether they cannot dimi- Lord at last screwed up his courage to proceed with his nish the cost of production to the British farmer so situated? measures of remission, which are to be supplied from a I ask the House to concede no more. That was the first moon-shine surplus—from a still imaginary surplus.—(Hear, duty of a financial Minister, who had counselled his Sove- hear.) lam now arrived at that point at which I would reign to announce from the throne that there was only one ask the House what is the most prudent course that, under interest in the country, and that a most important one, in a these circumstances, we should pursue ? The fund from state of continued distress. lam not now asking the House which the surplus was derived that was to be distributed to decide whether it was in the power of the Minister or not, virtually no longer existed. I would ask the House calmly but I say it was then uy of the Minister to consider who- and dispassionately to consider this point. What is the they, in the reduction of duty he was about to propose, it Prospect or probability of the income-tax being renewed at was in his power to reduce the cost of production to the the next meeting of Parliament? It is a disagreeable ques- British cultivator of the soil. It was the opinion of myself tion. But it is a question which I must beg this House and of my friends who supported me that it was in the calmly to consider to-night. lam a member of the Cona power of the Government to diminish the cost of mittee which is to inquire intothe income-tax. lam a member production. It was our belief that there was a of it in deference to the feelings of the House, add against my o wn inclination. I would rather have seen a more ern pressure of taxation upon the culti vator of the soil dent member on it thantmyself. Being a member, how which was not shared by the community, and though ever, of the Committee, let it not be s e pp osed that I am giv there might be a difference opinion as to the deg ree in the opinion of that Committee in what I n ow state. We of that pressure, no gentleman in the House will are sedulously pursuing the course of inquiry, but that has deny the fact that the cultivation of the soil belongs to a not led us to consider the circumstances which would at all class in this country which pays taxes to which the commu influence my opinion on the topics to which I allude. I speak nits at large is not subject.—( Hear, hear.) Following the second rule which I think should guide the Minister of Fi. just the same as if I was not a member of that Committee, or as if that Committee had not been appoi nted. There is one nance into the appropriation of his su r p lus —the first bein g that he should remit tee taxes most oppressive to the comma- reason among many which I confess weiehs much w ith me, and convinces me that the tax upon income a s at p resent pity; and the second, that he should re m it that tax which formed will not be renewed by the House. I wi ll tell y ou presses most upon any suffering class — l cal l e d u p on the elinistry to consider whether it was not in their power to why. I find a universal admission that as at present framed accomplish that result. In doing so, as Ido to-night, I in- that tax is an unequal tax and leads to fraud—that it is terfered in no manner with that complete remission of the rife with vexatious and inquisitorial proceedings—and that window duty, which I consider to be a realised result, and it is stamped by features repugnant to the habits and feel one which no Government can disturb. I merely urged that inns of Englishmen. Everybody agrees to that. Tory, it should be borne in mind that the cost of production should W big, Liberal, Conservative, or Radical, will admit those be diminished to the cultivator of the soil, and believing that are the features of the income-tax. But there is also another by a wise appropriation of the resources of the alinister opinion rife. Every man of any authority upon financial the diminution of cost might be materially assisted to take subjects, all competent to form an opinion on the topic, uni place. I suggested to the Government several propositions t u e f d r: (1 t h y a t I o hadb friendsj ec n gloat thet n l en course doingour objects s e Iso, versally and without exception agree to another point, and which e in a less or greater degree would, in my opinion, have that is, that those odious features of the tax cannot by any hadi n I psr p oe u v r di s oo u ui pursued, y, adopted,wt h i a th n t merely rasolyd means be removed or modified. The man, then, must be ad vicelr confessed ec short-sighted indeed who can hesitate as to the consequences of such :in opinion upon human action--who can believe that introducing an element which tended to diminish the cost a tax with such odious qualities, which the highest authori ties tell you can never be removed, can be renewed. That, in matters of finance it is not farmer. British I knew that though a sufficient, is not the only reason. I see among the shillings, and pence that are merely goudap, always to be calculated, but great lights of science—among those whose writings will ul that the feelings and opinions of the people, or of a great timately guide public opinion on the subject, an opinion class of the community must be considered in the distribu- gaining ground every day that the principle of tion of taxation ; and I was profoundly convinced that it direct taxation, -cannot be different from the principle of was at that time, as now , equal l y d esir ab le that an y demon - indirect taxation—that they must both be Perma stration on the part of this House of sympathy with the col- neat and e q ually general; of course I speak only tivator of the soil—any expression of a desire to assist him of permanent taxes, and not of those imposed in his terrible struggle—any resolution for a vote by this merely to meet an emergency, like the income-tax of Sir R. House to assist him (as I considered it to be the duty of the Peel. I ask then the House to consider, assuming that House to do) ia his effort to lessen the cost of production, when Parliament next meets it will not consent to grant the was a course the most politic, and tending, whether a large income-tax as at present framed, and that the Chancellor of or small measure were adopted—teeding to allay asperities, the Exchequer's present remissions of taxation are carried, to soften animosities, and terminate that conflict between th and there will be in consequence a deficiency of five or six rival industries of the country which are so much to be do-- millions (I say nothing of the Kaffir war), what are the precated, and which so en anger the institutions of the Prospects of the meeting that probable, or possible, defi country. lam not at all 'prepared to say that that would ciency ? There are only two modes, and though blended not have been a wise and politic measure. On the other they may produce the effect, analyse those methods, and hand, he might have taken his surplus, and, dealing with they will resolve themselves into those by reduction of ex that portion of the poor-law funds which is not subject to Penditure or increase of taxation. Not one word will fall the control of local administration, the Minister might have from me to depreciate the efforts of any Hon. Gentleman to brought forward extensive measures of relief, which might diminish taxation, though the results might be but a coin have contributed to ail the finances of the farmer, and would paths slight diminution of expenditure amounting, I have produced an impression on his mind that this House perhaps, to 100,000/ , 200,0001., or 300,0001. only, I sympathised with his suffeeings—that they were disposed to cannot help remembering that we live in a country which adapt his position to the altered circumstances in which cauld never find money enough to build a national gallery. their legislation had placed him.—(Hear, hear.) That Therefore I will not speak with any want of estimation for course was not pursued by the Government. I felt it to be those limited savings, but I agree with the Hon. Member for my duty to invite their attention to what I considered their the West Riding kali*. Cobden) that no reduction of expen duty, and, though I was supported by nearly a moiety of diture can be effected in this country, unless you touch the I was unsuccessful. And now I have brought the the military armaments of the country ; and the financial career of the Government down to the commence- Roust must therefore consider what probability or ment of the month of April. There was one observation Possibility there is of such a course. I will not which I wish to make with respect to the motion which 1 say one word to obstruct the progress of the principles in introduced to the House with the object of assisting the volved in the question of the maintenance of a perpetual British farmer to meet his severe trial. The object I had Peace. I will only make one remark. As long as I and always acknowledged to be twofold —namely, not only to ob- that the strongest positions are in the possession of the weak always for him some relief from the pressure of taxation, but eat powers, that the richest territories in the world owe also to show him that there was in this House a salutary their allegiance to authorities less qualified to defend them, sympathy with his distressed position. The Hon. Member I see the elements of disturbance, which only the most san for Berkshire (Ur. P u ssy) has lately made some observat i ons guine can affect to despise, and whether you call the process, —(Hear, hear)—upon my Parliamentary career, which cer- in the enlightened language of the present day, " annexe tainly would have been less inconvenient, and, might have tion," and not conquest, it is a process which I feel must been more ingenuous in hint, if they had been made here in my begin with force, must be repelled by force, and must ulti presence.—( Hear, hear.) The Hon. Gentleman is of opinion me el be settled by force. - But to dismiss those general that the motions which I have brought forward were futile Principles. I ask the House to consider the general state of motions ; and secondly, that in bringing them forward the Europe at present, and say whether any Minister of this mover of them is insincere. These are very harsh senti- country can be asked with any face of reason now, or in the ments. It is very probable that the motions which I have commencement of next year, to reduce the military arma brought forward with the twofold object I have mentioned ment of this country ? What is the state of the continent? may have been futile, but at any rate motions that have been lon have one of the leading nations of the world, with a supported by a large party in the House of Commons have vast population, a most spirited and restless people, in the upon their surface prnna facie symptoms of not being consi- heart of Europe, who have acknowledged that they have no dared a lt oge ther insincere. It may be possible that a man constitution—who, we know, have not in their country any who brings forward a motion in the House of Commons of the elements of government—who, whatever be their may be insincere, but it is difficult to penetrate the bosom of not of self-control, no one will fur a moment pretend are any: man. W e s h ou ld r ather give credit for motives more not at this moment i t a position the most perilous that natural, more charitable, and more obvious. I may have 30,000,000 or 40,000,000 of men ever yet found them been mist selves. Could even the Honourable Member opposite mistaken and not insincere • my reason may have been misled; re e '(Mr. Hume) tell them that there was less chance of have been I may e' judgment may have been misguided; .. think that than a foolish manor avery vain man ,it • is better to a disturbance now than for some years back? If lee I should be an insincere man; at least, it makes a motion to that effect he will not be as successful must always be a question of controversy whether our • mo tives as when he limited the income-tax to one year; and you, are insincere. But what are we to say of a Member of whether he be right or wrong, looking at what is most pro- Parliament who, when motions are brought forward which bable and possible, will not meet a probable deficiency of he believes to be futile, by a gentleman who he is convinced revenue by a diminution of military expenditure. Every is insincere, omits no opportunitee of followin h' into the man must feel that that is not the mode in which the defi g him same lobby—Meer, hear) d: —an supporting him by his ciency will be met. Then it must be met by increased tarn suffragehear.).— (I ' Berk Why, I might turn round on the ation, and in ten months' time they would in all probability Hon. Member for shire, and say there is scarce an epi- be called on to supply the financial deficiency by increased thet of vituperation—scarcelshould a phrase of invective, that, under taxation. In such circumstances, then, what was there such circumstances, t not be justified in lavishing more unjust, more impolitic, more savouring of folly, than u pon him.—(Hea r ' hear.) But it is more agreeable to me Now to be taking off two millions o f taxes which no one as it is to most of us, not to think too harshly of human na- pretends presses with any great severity on the subject, of ture; we all know that men are actuated, not only by which the collection is effected with competitive facility , by m ixed motives, but often be . to confused ones, that it is very and which are more easily borne than an y corres p onding . possible for a man to the possession of very amount of taxa tion which mi g ht be granted in their stead. considerable ability, to have received a remarkable But I am b ound to p ut another view of our position before culture, to be in the possession of • many reputa bl e 1 the attentive consideration of the Ho use, if I may still pre and some amiable qualities , and yetto be gifted with such sume to trespass on their attention.—(Hear.) It is a view an uncouth and blundering organization, that he is pe r pe- which, I think, deserves o u r g ravest consideration. If you tually doing that which he di d not intend, and saying and have a deficiency, and if you are called on—with the views writing that which he did not mean . (Hear, hear) which I have indicated as to direct taxation—to consider and that is the charitable view which I take of the Hon. the principle on which our financial system is established, Member for Berkshire's conduct.—(Hear, hear.) . But, Sir, is it not of the utmost importance that we should come to about this time a considerable event occurr:d_ I have that consideration with plenty of time, in a tranquil mood, analysed the measures brought forward by oa ths Government and not urged by matters of pressig public interest? — under their various heads, founded upon an assumed surplus (Hear, hear.) But what prospect awaits the House when which was to sustain a large measure of direct taxation, it meets next February? What part is the Noble Lord founded upon a fallacious and injurious principle. I have Prepared to take? The Noble Lord is not satisfied shown you how the window duty, under any circumstances, with financial embarrassment—he is not satisfied with a was repealed, and nobody wishes to disturb that repeal. I Possible deficiency of 5,00,0001. or • 6,000,0001. have shown you how few measure were brought forward to —he isnot satisfied that we are to be called on to settle the diminish your import duties. I have r eminded y ou of the phut derinciplficie on which the revenue should be r and undisturbed aised to sunnier me asures that were brought forward to relieve the distressed tency, but chooses that tranquil Commons. — agriculturists. I have reminded you that when Ministers, hour to , propose a new reform of the House of Commons. — after an agitated epoch to which Ido not wish to allude, re- (Hear.) Shall Ibe told to-night that, like the surplus, the constructed thetr Budget. and discarded, in a manner not re- n ew Reform Bill is to be conditional on a renewal of the in constructed for courtesy or kindness, the claims of the agricul - come-tax for three ye ars . I beg the House to observe that total body. I called upon the House to declare their opinion this is the prospect which awaits us. When we meet , we upon that subject; that though I was supported by nearly a shall have to deal with a probable deficiency of millions in moiety of its members, I was not successful in obtaining the the revenue —we must supply the deficiency—we must dis object of my desires ; and, Sir, I made no further objection to cuss the principle on which the financial system of the coon the Budget of the Minister. I was satisfied with fulfilling try is to be established, and at the same time d that he r a what I considered a public duty , and from that moment I was II jesty's Gover nment are pledged—mind you, pleged—to M in resolved, as far as I was concern ed, that the measurestroce a very extensive measure measu re re of Parliamentary re o frm the which the Minister brought forward under such circum- —( du Hear.) To s they are in stances, and of which I questioned and challenged the pro- must formal mentier.—(Hear.) Must I recall to the memory priety, under those circumstances should not receive our op- i of the House the language used b Bonaabinet Minister and position. But what disturbed the serenity of the financial i adopted by hi s co lleagues on the s reading of the Bill guelment ? Nothing frem this side of the 11902 e. The ' introduced 1,3 r the lie% liember for Ar e Surrey, when formal announcement wee made in order that. all similar discussions might be terminated for this session ? lam sure the Hon. Member for Montrose and his friends cannot have forgotten that announcement of the Secretary-at-War; and I am quite as certain that the Hon. Member and his Friends mean to hold the Government to its engagement.--(Hear, hear.) The motion - of the Hon. Member for East Surrey, though it was of itself of a very extensive character, did not satisfy Ministers. The Right Hon. Gentleman, the Secre tary-at-War met it by asking what use there was for so partial and limited a proposal. " Ministers have deliberated well on this question, and the Right Hon. Gentleman the Prime Minister has given you hints before, but as you press me, I tell you the measure will be comprehensive, and not partial and limited like this."—(Hear.) Such was the language of the Secretary-at-War. Ministers are pledged to deal with the subject in all its ramifications—they are pledged to bring forward, a complete and comprehensive measure, and to the financial measure the Noble Lord pro poses to add a political experiment, and all to be discussed in the first week of February next.—(Hear. hear.) Surely, Sir, with such a prospect, it would be just as well to keep hold of 1,800,000/, of revenue if we can without disappoint ing what I acknowledge to be the legitimate expectations of the commnity with respect to the remission of the window tax, which, so far from questioning, is a part of those measures I wish to recommend for the adoption of her Ma jesty's Government.—(Hear, hear.) Well, then, Sir, the motion which I have put before the House does not pledge Hon. Members to much more than to a very salutary principle in our financial arrangements ; but I should be ashamed of myself if I attempted to conceal the course with regard to which we are willing to support Ministers if they zealously pursue it. We are willing to support Ministers in a complete repeal of the duty on win dows. We do not wish in any way to interfere with that arrangement—an arrangement the wisdom of which lam not here at present to challenge.— (Hear.) But whether it be wise or unwise, expe'dient or inexpedient, I think in equity it is perfectly unobjectionable.—(Hear.) But, Sir, with regard to the measure before us, which is virtually a measure of partial commutation, I should wish to see Go vernment transform it to one of complete commutation. — ( Hear.) I think, though we had not a surplus, that the en gagement of being relieved from an odious tax like the win dow-duty, at the same time that the revenue does not suffer, is an important consideration, and still more important that the inestimable instrument which the Chancellor of the Ex chequer has re-introduced into our financial scheme should not be wasted for comparatively trifling and secondary pur poses.— (Hear, hear.) With regard to the duties on timber and coffee, I must again repeat, in a manner the meat de cided, that in expressing a hope that Ministers will not persist with these measures, I am offering no objection to them on the plea that they are customs duties. — (Hear, hear.) I discard all those principles of financial usages which would hold out customs duties as the only duties which ought to be encouraged. I feel that the revenue of a country like ours must be raised from various means spread over,a large surface; and it is only because I believe there is no surplus to supply the vacancy which will be caused by those remissions that I hope Minieterte, under the circumstances, will not persist with what I consider impolitic propositions. At the same time we are prepared to support a measure which shall permit the British shipowner to build his ships in bond with materials free of duty, and in fair competition with the foreigner who brings his ships ready made into this country. In saying this, I beg to state that the loss to the revenue, under these circumstances, will not be, in my opinion, of any considerable amount. I have taken great pains to inform myself on this point, and have availed myself of the information of men most quali fied to judge. I think they assumed that the loss by the remission of the duty on timber would be about 284,000/., and I think I can guarantee to the Chancellor of the Ex chequer that the odd 84,000/. will be all that he will lose by permitting British shipowners to build their ships in bond. It would be not so much a remission of taxes, as an act of political justice. These are the measures which we are anxious to see Ministers undertake, assured of our support if they pursue that course which, according to my observation and belief, their better judgment once impelled them to fol low.— (Hear, hear.) I see a smile on the face of the Presi dent of the Board of Trade when I talk of giving Government our support in carrying these measures, as much as to say that, though we would support them in these measures, we would hold back in our support if they were threatened with a vote of censure from Hon. Gentlemen behind. I can assure the Right Hon. Gentleman he is mistaken. When I say we shall support the. Government, it is not merely in carrying these measures, but also against the menacing con sequences he anticipates, and without taking advantage of any discontent of any section of his followers.—(Hear.) We would support them because their cause would be that which we believed necessary for the interests of the country. Five minutes more, Sir, and I shall have done. After all, what is the question at stake? It is the public credit of the country. That is the real question; and it is not to be to lerated that a Ministry, acting under a feeling of false shame, should be encouraged 1n pursuing measures the tendency of which is considerably to injure the public credit of the country. I beg to remind the House of this important consideration. We are so used to the blessings of public credit—we live in an atmosphere and in a world so com pletely influenced by it, that we are not so apt to con sider what would be the consequences of any injury done to it. I was reading to-day an account, by one of the most eminent publicists in existence, of a recent visit to this country, and I was struck with one sentence, the justice of which I am not prepared to -acknowledge, but which I think is worthy the consideration of the House, He says, " Things have changed in Englapd as everywhere else, and property is not so secure as it was, nor public credit as sacred." Now, I believe the eminent writer was misled by symptoms which, though superficial, might mislead a fo reigner, however able and experienced; but the observation is one deserving attention, and I' think it becomes the House to consider how dependent public credit is on the conduct of Parliament. We know well that the resources of Eng land, though not inconsiderable, are inferior to those of many countries which do not occupy the position she does in the eyes of mankind. We were often told by Honourable Gentlemen opposite, when members of the Anti- Corn Law League, that there was scarcely a raw prodection used in our manufactures which was not imp:Oiled from foreign countries. We know well that the most 'celebrated diamond in the world, which blazes at this moment close to us, within the crystal walls of that enchanting palace, which the enlightened taste and pre scient philanthrophy of an illustrious Prince have raised to the glory of England, and - the instruction of two hemi spheres—we know, I say, that that diamond was never found within the dominions of the illustrious Consort of that Prince, our Sovereign Lady the Queen; and we know that if all the geologists in the empire were to explore with their hammers the rocks and hills that surround as, they would not be successful in producing one ingot of that metal, the thirst for which, as the poet tells us, has produced so much misery to mankind.—(Hear, hear.) I was, Sir, somewhat amused, and not a little astonished, with a statistical work which I met with the other day, and which professed to catalogue the resources of the principal dominions in the world. I remember it stated that the revenue of Russia, whose gigantic destinies menace as it were the coming gene rations of men, is not so great as that raised by the English excise. Then came the ancient empire of the Kaisers, with xte_ohfc of the Bohemia,eeena g rE. country—those h thec eha H ear ci.m u )u n oe g urA a ,n t r tnaa y dnx , daea taxes stdwterhaa strange is o cgfe n: Lombardy, hre s b mtsto a oa r msdd theyap stamps its wsltiht giaathmht t t r psa i soprl theapee nvecrde k hnp i nottaul n aene g xxc d ee kingdom m l ioi mnr. e the revenue of Russia, that mighty power, whose disci plined array only last year 'frightened all the capitals of Europe, is not so great as that local and provincial taxation of this country, with the peculiarities of which it has been my fortune so often to trouble the House.—(Hear.) Nor, Sir, can I forget that even India, with its cloud of kings and myriads of subjects—with its mountains of light and pillowed palanquins—with its stores of gems showered at the feet of our Queen, does not throw from its exuberant bosom a public income so great as that afforded even by the curtailed cus toms of England.—(Hear.) By what magic is it that Eng land has produced a revenue greater than that of all these immense dominions? It is by this public credit—a produc tion of British growth more to be prized than the harvest of tropical climes•—more precious than the gems of Golconda,or the auriferous deposits in the Sierras of the Pacific.—( Hear, hear.) Of this public credit Parliament is the creator —the champion, the guardian.—(Hear, hear.) Is it possible, then, that the House of Commons will ever hesitate to fulfil its duty. I cannot believe it, and with the conviction that they will do it, I beg to move by way of amendment, the resolu tions I now place in your hands.—(Cheers.) The Hon. Member concluded by moving the following resolutions : ' That, according to an estimate of the probable future produce of the existing taxes, submitted to this House by the Chancellor of the Exchequer, it appears that a surplus revenue may be expected in the present year to the extent of about 2,000,0001. ‘• That in the revenue so estimated is included a sum ex ceeding 5,000,000/. derived from the tax on income, respect ing which an inquiry has been directed to be made by a Committee of this House, on the result of whose labours may depend the future renewal or modification of that important impost. "That in this provisional State of the financial arrange ments of the country, it appears to this House to be most consistent with a due• regard to the maintenance of public credit and the exigencies of the public service, not to make any material sacrifice of public income in effecting such changes as may be deemed advisable is other branches of taxation.",{ The question having been put, The CHANCELLOR of the EXCHEQUER said, that the present was the third time on which the Hon. Gentleman had addressed the House on financial subjects, and whatever talent he might have displayed, he had, at the conclusion of his speech, left them in the most profound ignorance of his intentions. The only practical recommendation in the Hon. Gentleman's elaborate display of two hours and a half was, that of permitting British shipowners to build their ships in bond. But another disadvantage attended -the speech. It not only fell short of the motion, but it was absolutely con tradictory. In the motion the Hon. Gentleman said that no tax should be repealed; but in his speech he was willing to repeal the window-tax. The Hon. Member had indulged a lively imagination, and had talked of the gigantic empire of Russia—the triple empire of the Kaisers. He had then tra velled palanquins -down oken of mountains of light and pil lowed pto such humble things as stamps and taxes. Now all that was very eloquent, but the only point which he had to notice was that relating to the finan cial condition of the country. The Hon. Member was mis taken in supposing that no man could tell what was the financial condition of the country at this moment. Now all the statements he had made in the budget of the 4th April were fully warranted. He still believed that the surplus would be 1,900,000/, as stated, minus the expense of the Kafir war. The Hon. Gentleman was mis taken in supposing that the surplus of this year would de pend on the permanence of the income-tax. What might be the case next year he could not say, but this year the income tax did not affect the surplus. He had never advocated the income-tax as a permanent tax; but merely as a tax to enable them to cover certain reductions in the finances of the country. The Hon. Gentleman had a lively imagination, but he should not exercise it in putting words into his (the Chancellor of the Exchequer) mouth which he had never used. What he had stated was, that he thought the House should only this year deal with those taxes which it was indispensable to deal with, and leave for future consideration the question whether it would be advisable to make other changes in connection with the income and property-tax. The Hon. Gentleman had said, although the Government re tained their places, they had also preserved the financial measures which, every one had thought were withdrawn. Now, not only himself, but his Noble Friend at the head of the Government, had distinctly stated that they were not inclined to make any alteration whatsoever in the financial measures of the year. There might be some few which ib did not matter much whether they passed in April, or May, or June; but generally they had determined on adhering to their plans. What was the nature of the motion of the Hon. Gentleman ? It was "That no material sacrifice of public income should be made in effecting such changes as might be deemed advisable in other branches of taxation." Now that meant—if it meant anything—that not only no reduction which had already passed that House should be admitted, but that the relief which had been promised in one particular impost should be abandoned, and that the window-tax was neither to be repealed nor modified, nor a house-tax substituted in its place.—(Hear, hear.) The Hon. Gentleman, on a former occasion, also made a long . speech, and proposed an amendment' OA going into Committee on . , !;). os,;1 EVENING that tax; but though he made a long speech no result could be drawn from it until another Hon. Gentleman helped him out, and then, it appeared that what he meant was, " Don't repeal the window-tax." He (the Chancellor of the Exche quer) thought that by the proposition he had made with respect to the window-tax great relief would be given to the towns, but that that given to the country would be even greater. The Hon. Gentleman, however, now thought that the public credit was in danger. If so, how did it happen that he had voted for the motion of the Hon. Member for Montrose?—(Hear, hear.) If he was of the same opinion then as he was now, it was rather strange he should have sup ported that proposition, the effect of which would have been to prevent a repeal of the window tax, and to endanger the public credit. —(Elear, hear.) A motion had been made not long ago, which wouldendanger no less than 5,000,0001. of the public revenue derived from taxation. The motion of the Hen. Member for Montrose was made on the 2d of May, and on the Bth the Hon. Member for the West Riding of Yorkshire introduced a motion for the repeal of the malt tax. Now, the danger to the revenue was as great on . the 30th of June as it was on the Bth of May. Oa the motion, however, which on the Bth May endangered 5,000,0001. of revenue, he found the name of Benjamin 'I 'lsraeli in its favour--(Hear, and laughter) and new, on the 30th of June, the Hon. Gentleman opposite considered that the public credit would be endangered by a sacrifice of 1,500,000/. of revenue. But perhaps there might be two Benjamin Disraelie—(Laughter)—and the Honourable Gentleman op po,ite was not the Honourable Member who had so voted on the former occaeion.— ( Hear, and laughter.) But, after all, the real question then before them was, whether or not the window-tax was to be repealed?—(Hear, hear.) If the Hon. Gentleman's amendments were carried it would be impossible to repeal that tax. Yet the Hon. Gentleman himself had said that he considered the window-tax was to be blotted out of the Exchequer. Ho (the Chancellor of the Exchequer) had not changed his opinion since he had proposed the repeal of that tax, and the substitution for it of a house-tax. He believed that its repeal would be a great boon, and afford great relief to all classes in the country, the agricultural classes as well as those in towns. He was as anxious as any one could be to retain a surplus in the Ex chequer; and he thought enough would be left, after carry ing out his proposition for all the purposes which he con templated. The question, therefore, which they had to de cide to-night was the repeal of the window-tax; and he trusted the House would decide at once upon that question aye or no.—(Cheers and cries of "Divide.") Mr. NEWDEGATE said the subject brought forward by the Hon. Member for Bucks was one of the deepest import ance, considered with a view to the prospective condition of the public interests ; and he wished briefly to state his sin cere concurrence with the Hon. Gontleman in his belief that it was highly inexpedient to sacrifice a large amount of public reveuueat the present moment, and particularly when there was a large amount of an unsettled claim with the East India Company. But at the same time he wished to guard himself from being concluded, by voting in the mi nority on that occasion against voting for any remission of taxation which might hereafter be proposed, either by the Government or any Hon. Gentleman opposite. He con sidered the Hon. Member for Bucks was right in his views with respect to all the most important interests of the coun try, and, therefore, he would vote for his present motion. Mr. GLADSTONE confessed it did occur to him, while listening to portions of the speech of the Hon. Member for Buckinghamshire, that he would have wished that parts of that speech had received a fuller development at his hands. He referred particularly to the course which the Honourable Member might wish the House to pursue in the event of the adoption of the motion then before it. In considering the objections which he (Mr. Gladstone) had stated on a former occasion to the financial plans of the Government, he could not refuse to support a motion which asserted a sound prin ciple in opposition to those plans—(Hear)—but he would state with as much brevity and plainness as he could the reasons which influenced his vote, and the course which he thought the House was bound to pursue under present cir cumstances.—(Hear, hear.) When the Chancellor of the Exchequer proposed the repeal of the window-tax he had also proposed the renewal of the income-tax for three years ; and even under these circumstances he (Mr. Gladstone) should confess it appeared to him to be a most unwise and most hazardous proposition, as respected the maintenance of the public credit, in parting with so important a source of revenue as the window-tax, by substituting for it a tax in the shape of a house tax, to place the latter on so narrow, and, as he thought, so illegitimate a basis as the Govern ment had selected for its foundation.—( Hear, hear.) He had objected to the house tax for these two reasons:— In the first place, they introduced it without the slightest calculation that the great anomaly in the tax which had caused its abolition in le34—he meant the inequality of its incidence to the mansions of the great as compared with those of the middle classes and those dwellings used for busi ness—was not removed.—( Hear, hear.) It was that in equality in the tax which had led to its abolition in 1834. But they had heard little of that objection on the present occasion, probably on the principle of not looking a gift horse in the mouth; that flaw in its structure having been passed over in silence. However, he could not think that it was good to introduce into our laws that which was objectionable. He could not consent, moreover, to a house-tax, which exempted six-sevenths of the whole house property of the country from its operation. He was not aware why they should take such an irrational course with respect to the house-tax. It was something like giving a charter of future exemption from all taxations to those six sevenths of the houses of this country. For his part he knew no more legitimate subject for taxation on the whole, and upon general principles, than the house property of the country.—(Hear, hear.) If it were true that house property was subjected to certain burdens for local purposes, it was not so with respect to the Imperial Treasury. He looked upon house property as the most secure and permanent de scription of property as a resource of revenue to the country. He could not therefore prevail on himself to give a vote which would in future preclude any portion of that revenue from being made available. But what had recently occurred added tenfold to the considerations he had before entertained. How different, how much more formidable a character had that question now assumed! He did trust the House would seriously and dispassionately consider the position in which the income-tax now stood. The proceedings of the present year had inflicted a heavy blow upon that impost.—(llear.) It was impossible to conceive that it could be again proposed in that House without serious if not obstinate opposition from one or niece parties in Parliament. Let them con sider the line of conduct taken by one party, and the position in which the question now stood. There was a large body of Gentlemen in that House who said it was unjust to levy a uniform per-tentage under all the schedules of the Act. These Gentlemen had obtained a Parliamentary Committee to consider, not exclusively, but mainly whether they ought not to alter that per-tentage under the Act? Such was the state of one of the powerful parties of that House. The Government were not to be looked upon as friends on general or permanent grounds to the impoetion of the income-tax. The Chancellor of the Exchequer, indeed, in 184°, had given in something like his adhesion to the principle of the income-tax as a portion of the general taxation of the country. The Noble Lord, too, within the last few weeks had spoken in terms which might represent his opinions as showing that the repeal of that tax was not to be ex pected. There was another party in that House which believed that the per-centage under schedule D was so con stituted as to demand the renewal of the arrangement under that schedule. There were many on that (the Opposition) side of the House, cf whom he was one, who could not con sent to the income tax if the per-centage was varied. From all considerations of policy they were precluded by a solemn pledge upon the statute-book from anything in the nature of such a variation. Now in what condition was the income tax to come out of that Committee? Was it to come with a recommendation to vary the per- tentage? If so it would not receive the sanction of the House.—(Hear, hear.) If otherwise, it might be met with the hostility of a powerful party. He could not forecast all the difficulties which might arise under the circumstances; but this he should say, that these 5,000,000/. of revenue were placed in a most precarious position. He would, therefore, ask the House whether it were wise, whether it were politic, whether it were honest, to exclude from their view the preparations for a contin gency so great as the possible lapse of the income-tax? — (Hear.) In case of the lapse of that tax, what would main tain the public credit? They might talk of public economy ; and certainly that House had not exceeded its duty in en forcing economy and retrenchment ; and ho hoped more might be effected in that direction. Certainly arrangements had been entered into which in the course of time would have the effect of causing a saving in expenditure in connexion with the debt. But he was not of opinion that the income tax could be done away with, and public credit at the same time maintained, if they withheld their hands from new taxation. Then he would say, let them have the resource of a house- tax, not indeed to take the place of an income tax, but to fill up some portion of the deficiency caused by its removal. And there was the connexion between the two subjects. The position in which they were placed was this, that while the income-tax was placed in such a perilous position, they were proposing a house tax on a basis so narrow, that it could not be made properly conducive to the public revenue. Such were the objections which he entertained to the financial policy of the Government. But if he was asked what would he recom mend, his answer would be, that he disclaimed on the part of those not connected with the Government the duty of pointing out in detail the nature of the financial measures connected with the direct taxation of the country. But this was, he thought, what they ought to do—adopt the principle laid down by the Hon. Member for Bucks, that the surplus which they had was not to be dealt with as permanent in come, to be given away without reference to future necessi ties. But if they wished not to disappoint the expectations raised with respect to the income-tax, they ought to have so constructed their house tax as to place it on a basis so broad as that in case of necessity it might be made available for yielding a considerable sum to the Exchequer. What was the precise limit of the basis he did not presume to say; whether it ought to include 101. houses, or to adopt a gradu ated scale ; or whether the tax was to be levied on owners or occupiers ; or whether they were to make all house property liable to taxation. These were questions upon which it would not only be premature but impertinent for him to express as opinion. The fundamental objection which he had to the proposed house-tax was, that it cut off from the House of Commons the most valuable source of revenue. It cut off that source of revenue, too, at a time when those measures adopted by the House, and suggested by the Government, had made it probable that that source should be had recourse to to maintain the interests of the country, as well as that public credit which they all had so much at heart.—(Hear.) He had thus stated all his reasons for the vote he intended giving. He would only add one more word of explanation. In voting, as he intended, for a motion which he conceived asserted a sound financial prin ciple, he was far from saying that the Government would be right in withdrawing the changes they proposed to make in the Customs Bill. Such a sacrifice of revenue as that which they proposed to make was what the public had a right to expect for the renewal of the income-tax. The proposed , remission of the duties on timber and coffee had al ready taken effect in the votes of the House, and the estimates had been conducted with a view to those reductions. The revenue upon those articles was not an inflexible revenue, but one of that elastic nature as would go to increase itself. But, with respect to the house-tax, he could not allow that proposition to pass without the ex pression of his honest opinion that that was a revenue which Parliament ought not to give away, .as it was a revenue which might be drawn without the slightest objection being made to it, and this more especially under circumstances which might be formidable, and which events showed might be near at hand.—( Hear.) Mr. LABOUCHERE said the Hon. Member for Bucking hamshire said he did not wish the window-tax to be re tained, and the Right Hon. Gentleman who had just sat down admitted that the duties on timber and coffee ought not to be preserved ; and these were precisely the questions with which the House had to deal on that occasion. Such were the practical questions which they had then to determine. That was what the House h ad been for some time deliberat ing upon—whether the duties on timber and coffee were to be reduced, and Whether the granting of the income-tax for only one year was so impor tant as not to justify any further remission of taxation. He knew that the vote had been come to by the joining of parties holding the most diverse opinions ; but though he deeply regretted that vote, he was not of opinion tha t by it a fatal blo v was struck to the credit of the country. He should do deep injustice to those who may be said to be the authors of that vote, if he im puted any ulterior design to them. There never was a period when public men and particle were more united . Maj, )rity against the amendment --113 The announce !meat of the numbers was received with con• siderable cheeri g from the Ministerial side of the House. The House t, i.en went into Committee on the Bill pro formal, Mr. BEE :74AL in the chair; and the Chairman imme diately reported progress, and obtained leave to sit again. Sir B. HALL gave notice that lee would move the ex tension of the to to Ireland. GENER AL BOARD OF HEALTH BILL. The order of 1 he day for the third reading of this Bill having been read;, Viscount EBI t.INGTON moved the omission from clause 1, line 11, of th a following words :—" So far as the same are authorised I'y the Public Health Act." He objected to those words, ',not only on principle, but also in conse quence of the evi is which the adoption of the provision had already produced . in the towns in which it had been carried into effect. Mr. FREWEN c seconded the motion; but he doubted the prudence of divid ti ng the House upon the subject. Mr. MULLIN GiS said the object of these words was to make the Bill co asistent with the measure of last session. Lord SEYMO . - UR said that those words had been intro duced into the B •ill of last year, in conformity with the best legal advice, and he had thought it advisable to re-insert them in the prey ent measure. The ATTORN '.EY-GENERAL ;said that without those words the Act m ight be completely overturned. The amendme at was then negatived without a division. Mr. FULLER , moved that Hastings be inserted in the schedule. Sir W. VERN ER seconded the motion. Lord SEYMO UR opposed the proposition. He was quite ready to admit t. hat Hastings was one of the dirtiest towns in England—(Lan „titer)- but the point was, that St. Leo nard's, being a clean town, could not be justly laden with the expense of cl eansing Hastings. Mr. HOLLAN D supported the motion. Lord EBRING i'rON reminded the House that under the Health of Towns Act there was ample power to rate parti cular districts acc :,)rding to their especial wants without bur dening contiguou ; localities. The House divi A led. The numbers were For the m otion .•• Against it ••• 77 Majority •.. —lB The borough of: Hastings was accordibgly inserted in the schedule. The Loan Soci sties Bill; tbo Highway Rates Bill; the Merchant Seam en's Fund Bill ; and the Burgesses and Freemen's Ferric anentary Franchise Bill were read a seccnd time. The County C( rurts Further Extension (Compensations) Bill, and the Advances for Public Works, &c., Bill went trough Committe e. Mr. LABOUC FIBRE obtained leave to bring in a Bill to amend the More futile Marine Act; and, the other business upon the paper h oving been disposed of, the House adjourned at a Quarter to 0 me o'clock. THE FIR] AT LONDON-BRIDGE, OFFICIAL INQUIRY. An inquest was held at eleven o'clock yesterday, at the London .bridge I' betel, by Mr. Payne, the coroner for the city of London, to investigate the cause of the recent exten sive fire at Mr. A Merman Humphery's wharf. The jury havir te,r been sworn, Mr. PAYNE df escribed to them the situation of the build ings, and pointed .out on a rough plan the portions which had been destroyed. Ike Coroner an d jury then proceeded to view the pre mises, and on the, it return, Mr. William f3nooks, Tooley-street, surveyor, described the premises whi ch were burnt, as it has already appeared in the papers. James Dimsd ale, Tooley-street, porter—Knew the pre mises and had b€l.en employed in them. When the fire broke out he was in Montague-close, in front of the warehouses. It was about aye arter to four o'clock. There was a jour neyman of the r.ame of Eaton with him. He was coming from the new building. He saw a gentleman standing at the bottom of A warehouse. He did not know who he was. The gentleman sung out " Fire " and " Po lice." Witness then went over to give the alarm. He saw the lire on the first floor of warehouse A. He went to Mr. Brown, of the Hibernia-wharf, and he sent Eaton for the engine immediately. He then came back to the fire, and ren. dared assistance as far as he could. He was there the whole time to eight o'clock. He went into letter C, on the third floor, but tie could net tell what W 33 in the warehouse.. He assisted in removing hops from letter C warehouse. H e saw the fire in letter D from the loophole of letter C. He did not go on the roof at all, nor did he go into the warehouse Dat all. He knew nothing of how the fire commenced, .and could give no opinion with respect to it. When he saw th o fire first it appeared to him to be on the staircase. He si ew it through the window. The door near which the gentleman was standing was open. He didn't know what bee sme of the gentleman. The gentleman ap peared to be alarmed. He was standing still, and was calling " Police—fire !" ;lie worked in all the warehouses frequently, ever since they were built. Did not know what was in the warehouse A., but believed there were rags there—white linen rags. Deld not know what was burning when he first saw the fire. At twelve o'clock that night he was in Mr. Waterman's premises ; witness was then sober ; had not been in A all day. He (witness) pointed out the gentleman whom he saw at the door of letter A when the fire broke out. Thomas Harris Edge, 61, Walcot-place, Kennington-road, clerk—Had been down in the Borough, and was passing along the warehouses when a person passed him, running as fast as he could towards Tooley-street. He was a labouring man. He came from the direction of the warehouses. He also saw another man in the direction of the church-yard. Both had come from the same direction. There was no ap pearance of fire outside. That was about a quarter to four. He saw several risen looking through the first window of the ground-floor of letter A. That was the staircase-window, and on looking in he saw the fire. On seeing the fire he thought the two men had gone for the engines. He called out fire as loud as he could. He went into the warehouse occupied in letter Aby Mr. Hewitt, cheese factor. As soon as the fire reached the first-floor where there were rags, it blazed out very violently. He had not the slightest know ledge of how the fire originated. When he first saw the fire the rags were not burning. William Eaton, a Bridge-street labourer, wre in Mr. Hewitt's warehouse shortly before four, and heard a crack ling, and on looking into A warehouse he saw fire on the staircase. There is a small room by the side of the stairs, in which lumber is kept, and he was of opinion that the fire originated there. Richard Welsh, warehouseman to Mr. Humphery—Mr. Hewitt occupied the ground floor of letter A, and Mr. Ho lingsworth, paper-maker, the second, third, and fourth floors. The latter's warehouses were filled with calico and linen rags. Mr. Wigan, hop-factor, occupied the fifth floor, and Mr. llumphery the top one, which was empty. B was oc cupied by Messrs. Hitchen and Thornton, hop factors, on the first and top floors. Mr. 'Wigan had oors 2,3, 4, and 5, which contained hops. Letter D was occupied entirely by Mr. Wigan with hops. He was not on the premises after half-past seven in the morning. He opened the loopholes and locked the doors before he left. Everything was then safe, He returned about half-past five, and the premises were then on fire. There is a small cupboard under the stairs in letter A, in which paint-pots and other lumber were kept. He could not form the least idea as to the origin of the` e, and heard no one threatening to set the place on fire. n n ' on the spot when the fire broke out in letter D. He was ln the roof of C • about seven, and saw no signs of finer n a " t t P e y t i o o n f about half-an-hour afterwards the fire broke out in . leri a ' - ' nd He saw smoke coming out of the win a d n o q ws_ tb_ o aa f t_p t h h i r e e could be sixth floors. It did not appear to him that bf e t Lae fire i n D e any connexion between the fire in A and B.anthe emto Mr. Thomas Stannor said that he was Mr. Edward Hewitt, a cheese factor, was called to the fire, and saw the refre,'Uuul it in N o . 2 warehouse. There was a cupboard in c n ed warehouse but he did not believe that the fire commath e re, or it would first have destroyed the Anystaircase.ne c could form person f could go into the place, as it is open all day. , orm no notion as hs r s--e W a with t to how the fire began, nor " an ha he ever heard threats of injury. w a s f discovered he was in the counting- Mr. Charles Brown foreman to Mr. Alderman Humphery, , and when told of it by Eaton, he to the Warehouse No. 2 A, thinking he a c r h the fire. He went up three or four should be able to quench wa g unable to proceed further in consequence of hiletnihbetehrkne 2;r:41 the imme nse heat. He saw the rails and tho rags inside the warehouse on lire. There was no appearance of the fire stairs, but coming from a cupboard, but he belied it came from a bale o f rag near to the door. J UL Y 1, T the opinio n of maintaining the balance of public credit, and that this L alance of public credit was not only the main pillar of o ur strength, but the main source of our financial prosperity. He did not believe that the public credit rested on truch an unstable foundation as a vote of that House. An.d he was certain, notwithstanding the present House had come to a resolution to have the income-tax for only one year, that next year the House would not shrink from the duty of re-considering their determination, and of putting the financial credit of the country on a sure and solid basis, whatever the steps they may be required to take for that purpose. The question was whether they woul d not disappoint the reasonable expectations of the country if tb ey did not repeal the window-tax and take off the duty on. timber and coffee? He thought the answer in this respect so clear that he could not bring himself to waste the time of -the House with arguments in support of the case. He would r tot follow the ingenious gentleman into the varied disquisition with which he had favoured the House upon the financial co . adition of the country. Taxation must be made to adjust itself to the circumstances of the country; but the House must recollect this, that while taxation was pressing on the richer part of the community, the great mass of tax ation —whet her wo wished it or not—did press with severity on the indu rtrious classes. So, therefore, it was that argil , . ments whic a, taken by themselves, would not be expedient and proper t o urge in justification of particular taxes, if coupled wi an other circumstances would justify those taxes. And it must also be recollected that the window-tax was not wit bout exemptions; that tax was not very equal in operation , for Windows in shops occupied for purposes of trade were exempted, just us land and other rated property had also its exemptions. The Hon. Gentleman had stated with a good deal of parade —he hoped the Hon. Gentleman would pardc n him for having smiled at the time—what he proposed as part o f his p lan, to pioffer to the shipping in terest—nam sly, to give them the privilege of building ; hips in bond. n :E.; was sorry to see the Hon. Gentlemen revert to an exploded :system, and propose to multiply the manufac tures in bon ti in this country. Mr. HUI tE would say a few words, as part of the state ment of the .Right lion. Gentleman rather reflected upon him, as the originator of the debate. He did not agrees with what 1 tad fallen from any Hon. Members who had pre ceded him. .It was necessary to carry out that plan and those views r.f taxation with which the present Government took office. lie thought, however, Government might have carried out those principles even further. The surplus might have been devoted to more useful purposes than buying up aIA mtion of the debt. He approved of the aboli tion of the w ndow-tax. He approved of the house-tax, but disappro e d of the mode by which it was carried out. The house tax: was a property tax, and there ought to b e no exceptions. 11. was exceptions which generally created dis content towar is a tax. Then with respect to the income tax, was it noa ; denounced on all sides as unequal and unjust? He had ende, al Toured to get it modified on these grounds. The Right Ho a. Gentleman did not wish the income-tax to be continued. He differed from that Hon. Gentleman. He thought the income-tax ought to be continued, and even increased if necessary. Whilst he was willing to grant the an pplies, he wished at the same time to relieve the in a ustry of the country. Taxes had hitherto been levied 013 the industry of the country, and the rich had bee a comparatively exempted from taxation. Out of 52,000,1 WO/. of taxes 84 per cent. was raised on the industry of the people. Would the people allow this amount of taxation to c iontinue without requiring property to bear its proper share of the burden? He approved of the inquiry now going on, r Ind the result would be, he hoped, to place the burdens of I the country on the Interests best able to bear them. These w %ere the principles he had always advocated, and he was sa: a'sfied they were the principles which the country would ultimately adopt. He was satisfied the in terests of the cot 11 stry would be best served by placing the taxation on aSC nd and an equitable basis. The House tb n divided, when there appeared— For Mr. 1) israeli's amendment ... 129 Against iit !.. ... 212 George Coles, a fireman belonging to the Tooley-street station, said he saw two or three strangers on the top of the D warehouse before that building caught fire. While he was walking between the C and D warehouses, he saw smoke come up from a trap-door in the D warehouse. He kneeled duwn and looked in, and saw a small portion of fire in the corner nearest to the window. To be positive, he went into the top floor, and when he got within about six yards of it, he found the heat too much for him to go nearer without assistance. He ran back to the roof of C, and called the at tention of the fireman now in the hospital to it, telling him that the D warehouse was on fire. He went down with a hose, but the fire beams so great that his comp;nion was severely burnt, and he was compelled to quit the place with him, and take him to the hospital. The fire appeared to be in a corner in an angle of the building on the floor, and was not near to the roof. Mr. Braidwood, superintendent of the fire brigade, said he was called to this fire at five o'clock, and from the descrip tion of goods the warehouse contained, he believed the fire had been caused by spontaneous combustion. If there was damp or oil amongst the rags, with the heat of the weather, they would be very likely to cause spontaneous ignition. Hops would burn furiously when there was sufficient heat, but he did not know what heat would be required to set them on fire. The CORONER thought it was not well to close such an inquiry hastily, for when persona read the account of the pro ceedings fresh evidence was often elicited thereby. He therefore thought the best course was to adjourn the inquiry for a certain period, and in the meantime that every effort should be used to clear up the mystery in which the matter was at present involved. With this view he advised that a reward should be offered to any one who had information in their possession as to how the fire originated; half the amount to be paid on the commitment, and half on the con viction of the offender. This offer might bring forward some useful evidence, and if it did not they would only be in the position they were at the present time. The suggestion was immediately acceded to by the jury, and the inquiry was adjourned. Mr. Wigan, before the breaking up of the inquiry, ex pressed his intention of offering 2001. reward for the appre hension of the offenders, who had set the premises on fire. COURT CIRCULAR. OSBORNE, MONDAY. The Queen and the Prince, accompanied by his Ma jesty the King of the Belgians, walked early this morn ing in the park and grounds of Osborne. 1 1is Sere ne Highness the Prince Augustus of Coburg arrived at O s b orne y es t e rday afternoon, on a visit to her Majesty and Prince Albert. His Serene Highness left Osborne, for Claremont, early this morning. Their Royal Highnesses the Prince of Wales, the Princess RoY'Ell and younger branches of the Royal Family, and the Princess Charlotte of Belgium, walked and rode as usual. Their Royal Highnesse s the Duc de Brabant and Comte de Flandres, attended by Colonel de Moerkerke and Sir Robert Cersvvell, cro sse d to P or t smou th in the Fairy royal yecht this afternoon, for the purpose of see ing Portsmouth Dockyard. Their Royal Highnesses Prince Arthur and the Princesses Helena and Louisa, left Buckingham Palace yesterday morning in an open carriage and four, for a drive. Her Royal Highness the Duchess of Kent took a car riage airing yesterday. The Finance Committee of the Royal Commission for the Exhibition of the the Works of industry of all Na tions, had a meeting yesterday afternoon, at the Exhibi tion. There were present Earl Granville (chairman), Lord Overstone, Sir Alexander Spearman, Mr. Cubitt, Mr. T. Field Gibson, Lieutenant-Colonel Reid, and Mr. Edgar Bowring (secretary). The meeting broke up at five o'clock. The Earl of Dundonald bad an interview with Earl Grey, yesterday, at the Colonial-office. Sir Robert Ferguson transacted business yesterday with the Commissioners of Railways, at the Board of Trade. Mr. Baxter also transacted business with the Commissioners. _ _ _ _ M. John Wood, Chairman of the Board of Inland Revenue, had an interview with the Chancellor of tho Exchequer, yesterday, at his official residence Downing street. THE GREAT EXHIBITION. Yesterday there was a very considerable falling off in the numbers that visited the building, the police returns giving 52,879 as the total, while the receipts at the doors amounted to 2,4691. 16s. The excessive heat of the weather is probably the cause, for there is no reason to believe that the Crystal Palace is as yet losing its attrac tiveness with the masses. By a constant use of hand watering-carts and cans, and by removing the glass par titions at the eastern and western ends, the interior was kept pretty cool throughout the day, and the tempera ture must have been considerably lower than it was out side. A good deal, however, still remains to be done in the way ot ventilation, and it is satisfactory to find that the management aro taking vigorous steps to insure the comfort of their visitors during these veritable dog-days. They intend to open up large spaces for the admission of fresh air Loth below and in the galleries, and we have no doubt that when their arrangements are completed they will be crowned with the same success as has hi therto attended their labours. RAILWAY SHARE MARKETS. BRISTOL, JUNE 30. STOCK EXCHANGE. —The share market was firm to-day, and prices had an upward tendency. The transactions were principally confined to Great Westerns, which closed firmly at 86. LINTaPOOL. JUNE 30. STOCK EXCEANGE.— The share market has been better to day, and prices are rather in favour of the buyer. The transactions were as follow :—Ambergate and East Junction, dis.—Caledonian, 11 7-16—East Lancashire. 15W3 — Lancashire and Yorkshire, 53:4—Ditto, Fifths, 7% dis. London and North-Western, 124 3 / 4 —Ditto, New Quarters, 4 p.—Manchester, Sheffield, and Lincolnshire, 27—Midland, 474 4 —Ditto, Halves, 18 !-4 dis.— Oxford, Worcester, and Wolverhampton, New Preference, 21 5 / 4 —South-Eastern and Dover, 23 5 / 4 —York, Newcastle, and Berwick, 19 13-16 York and North Midland, 20 Dublin and Belfast Junction, 20 dis. MANCHESTER, JUNE 30. STOCK EXCHANGE.—The business to-day was moderate, and prices remain at about yesterday's quotations. The transactions were as follow :—Bolton Blackburn, Clitheroe, and. West Yorkshire (No. l ), s—Ditto (A), s—East Lanca shire, 15%—Lancashire and Yorkshire, 53N—Ditto, Fifths, 7N: dis.—Manchester, Sheffield, and Lincolnshire, 27—North Staffordshire, Bs. dis.— South-Eastern and D0ver,.23%. BIRMINGHAM, JUNE 30. STOCK EXCHANGE.—The share market opened firm this morning, but throughout the day the business transacted was limited. Shrewsbury and Birmingham (A), were done at 4/. 16s. 3d. dis. LADY PONSONIif s NEW WORK, " CLARE ABBEY." —ln this story (says the John. Bull) the talented author of " The Discipline of Life" has displayed all that power of painting the passions of the human heart, and the hard struggles between inclination and duty, of which her former work gave such ample proof. The sufferings of the noble, unselfish Reginald Vere, the severe self-discipline to which Ernest de Grey has to subject his impressible yet powerful • nature, and the conflicts which the heart of Camilla has to sustain before it finds rest in the enjoyment of a purified affection, after casting off the drops of wild and wayward pawou, impart to the tale a fascinating interest, while its lofty moral tendency raises it above the ordinary level of works of fiction. "Clare Abbey" is decidedly one of the most successful, one of the most attractive, and at the same time one of the most high-toned novels of the season." SERIOUS CHARGE OF SHOOTING A MEMBER.. OF CirmsT CHURCH.—On Thursday afternoon Mr. Joseph Caudwell, a money lender, was charged before the Rev. the Vice-Chancellor and Dr. Wynter, two magistrates of the county o f Berks, with wilfully and maliciously wounding Mr. Alexander Henry Ross, 8.A., of Christ Church. It appears that early that morning Mr. Ross, and some of his companions, resorted to the house of Mr. Caudwell, which stands on Follow-bridge, and is in Berkshire, and, in a frolic, attempted to throw several pieces of cannon, standing in front of his house, over the wall into the Isis, but while in the act of trying to do so, Mr. Caudwell was aroused, and, having opened a window, without saying a word, he deliberately fired a blunderbuss at Mr. Ross. A portion of the shot struck him on the neck, ear, and hand, the latter of which is very much injured. Evidence of the facts having been given, and Mr. Hansard, surgeon, stating that he considered Mr. Rose seriously wounded, so much so that he could not certify that he was out of danger, as, from the nature of the wound in his hand, lock-jaw might be the result, the magistrates re manded the defendant for a week, and the same evening he was conveyed to Abingdon Gaol by the University Marshal and the Inspector of the University police. THE EAST INDIA COMPANY'S COLLEGE, Flinn!, BURY.—HERTFORD, FRIDAY, JulrE 27.—This i morning I deputation from the East India Company, consisting of Min I Shepherd, Esq., Chairman, Sir J. Weir Hogg, Bart, ir puty Chairman, Sir R. Campbell, Bart., M.P., Sir .3; L. Lushington, Sir 11. Willock, the Hon. W. H. Melville, ;mu other directors, visited their Civil College, 11QeY etudentsi bury, near Hertford, for the purpose of distribuiegrirt r p rYil e r ' r eB e a a vtl d to the successful students of the year. On arriv in l d ' I l i e College, the directors waited on the Rev. o 8.D., the Principal, who presented them with a ° i s red, factory report. Immediately afterward: l l oe. re aired College ut company with a large number of visitors , the presented. themselves Hall, where speeches were delivered respective rewards tanee, anscrit, re- English, Latin, Greek, Syriac. Hind° , Hoo the students, remarked logoo, and other Oriental languages. list of the students who were entitled to prizes and medals, to congratulate them upon and as their names were called o a ft merit.the directors' Th eohtaabi chairman, a t n o a r e d c d e r i e v o e n t g t reVerend Principal had t t h he at s presented, expressing 3 hOPe a the College would in t h e hi h time to come mainta r in Wards the hateiswfaacstohryappreypoinrtbNevihrtigch g reputation it had already gained. Shortly after directors e directors returned to town. THE COMMERCIAL TR, AYELLERS' SCHOOL Asso bolf-yearly CIATION.—The court of this association for the educat i on of orPben and Necessitous children took place on Satur morn in g , „at ten o'clock, in the London Tavern; Mr. Jaras t eat in the chair. The secretary read the p l e o rt i , Ale I had • stated that the receipts during the that the,. just terminated were 2,4771.35. 4d., and that f he budding fund now ameunted to 9,4001. The number of c widren in the asylum at Wanstead, on Christmas last, as ~-ell as at the present moment, amounted to 111, and by the election which would take place that day of eight children that number would be augmented to 119, consisting of 75 boys and 44 girls. The report congratulated the association on the continuing public favour which their association met, and informed the members that the progress of the children in their education had been of the most satisfactory descrip tion. The amount subscribed to the building fund warranted the board in commencing a new building as soon as a suita ble plot of ground could be obtained, and they were anxious to obtain a site on some railway or commanding elevation, which would attract the public observation. The secretary informed the meeting that the offices were about to he re moved from their present locality to the most conspicuous part of Cheapside. The report was then unanimously adopted. and ordered to be entered on the minutes. The following scrutineers were appointed :—Mr. Halt, Mr. Woollaton, Mr. Adars, Mr. Stanifoid, Mr. Bligh, and Mr. Fenton. A vote of thanks was afterwards passed to the chairman for his con. duct in the chair. THE BALLOT.—The Liberals of Batb, in muse. quence of the various cases of intimidation which came under their notice at the recent election , have drawn up a petition to the House of Commons in favour of the ballot. The petition has been laid down in several parts of the city for signature, and no doubt a large slumber of namee will be appended to it. 1 le.