The Sun. — London, England, 1853-04-19 00:00:00

0 3 ' cl?!. I think it far better -far more in accordance with our own i ie ligaticms, and far-more likely to advancetheinterests of. $ tb ia ,e'llttl7: - -that •we should p resen t t o you what we icand I will tell Why we thi n k it by and by-a real s ubstantive pl an -(h e a r, h ear),-under wh i ch t h e i ncome that ill way, if Parlia me nt s h ou ld t hi n k f i t, b e go t rid of, than tb should wine with some paltry proposal to shirk unneulty • • fo Y re-enacting it for two years, or re-enacting and ° neTeaand thereby prolonging the uncertainty to dissatisfaction and giving rise not only to doubts as position of the tax, but as to the perfect good faith v•er_.t;a:_lia• meet in dealing with the country. (Hear, hear.) have embodied we think that the descending rates which we ;a m mbodied in the proposal for the renewal of the tax teed to * show Parliament and the country that our in tentionto Put part with it, or, at all events, our intention to real Parliament in 1860 in a condition to' part with it, is a bona -and say fide intention. (Hear, hear.) But you will say Parliament saY justly-that that intention does not of itself put 11 "•ment in a condition to part with the tax,-that it is in . r t Y lie w ell to say that it shall, for two years, remain at 7d. fort hrixnuld,-that for two years more it shall be 6t1., and We may ee_years more sd. ; b u t th a t w hen it comes to sd. again want that the re i s s till a d e fi c i ency , an d th a t y ou th e . the 7d., or th a t w h en you come t o th e en d o f ' .Per:iod for sd. i n th e pound you may fin d you cannot a,rt a with it. (Hear, hear.) With respect to this objection meat " I t, hall otiay, that b e f ore th e c l ose o f ra y p resen t s t a t e - Point ;_and, endeavour to gi ve y ou f u ll sa tisf a ction on that I will further venture to soy that, whatever iu 7 0 q may thi n k o f th e plan I have to propose, no gentlem n the, committee will think that the Government are pal "'mil; with the House of Commons, or that I am not pre sentin„ a proposal which is at any rate substantive and (Hear hear.) I ray Sir, that our principles With respect to the (Hear; tax . 5 our whole financial the income mark k x (Which , is the corner stone plan), our principles with respect to gulled of us these things :-In the first Place, t o sec on d to n effectual,effectually as a temporary tax ; in the the Place public lme e t ' with in a way which we think good and ute tax and feelingrespect to the inequality and by will explain how we mean to do"this by i ta , s ___T But, bey( nd this, I wish to ask-and this is the of PO ant question to which I wish to call the attention P arliament-if' you determine to renew the income tax or "J„11 make its early extinction your first and sole object, of commawuu, in order to bring to completion the noble work ie,•_etrcial reform4hich is far advanced, associate the ti; ,'„°a l l3 • ax once. more with a remission of duties, eaten ce"ne4 itself and beneficial to the community ? We ,have tle c i d erect fully these • two questions ; and we have ed deliberately in favour of the second. (Hear.) el' we propose to renew the income tax, we pro te associ a t e it d ur i ng t h e years which it h as s till t o ith, a grea t an d beneficial •taxes. (Hear, ea uT remission of r.) But the statement whi c h I h ave a l r eady made with C hi t to the sun:4ns is ne not altogether promising in xesPeet. H • who should' f e would be an ingenious minister of finance surplus of °Lind an extensive remi • moon of taxation on a gard a a 8 °°; 00 0/., 200,0001. or 300,0001., of which he re . t axes s uncertain. If we are to propose a remission of • we must h a • two This • have 'ands out of which to make the remis to of course an elementary truth, but I am sorry Rouse" that it is not wholly useless to impress it upon the ; . (Laughter.) W e have, therefore to consider-and thi , Sir, the invidiouseve, which I am now about part of my task, upon the means to enter-we have now to consider what are ere a ti n , „ fund to us, in .consistency with justice, for • Plus' which, in conjunction with our present ' we can apply to an extensive and beneficial re ison a taxes N ?on s-if the Now, the first question which is raised e xtended 9 income tax is to be continued, shall it also be nioat • (Hear, hear.) And the view of of the Govern in ata ,`? .this -that the late AdMinistration were right the tang that, if the income tax was to be continued, „ e xemptions-under it should be narrowly considered hear)-and therefore we are prepared to deal with ".0 of on qUesti exemptions. (Hear, hear.) What, in the first place let me ask, is the case of persons enjoying in . com es b e immediately bel o w 1501. per annum ? There may the those Who say that it is dangerous to attempt to levy income tax on i ncomes b e l o w 150/4 but it is my opinion ti , _ , the saf e t y o f th e measure d epen d s in a great degree it TaY say mainly . -on its justice ; and if you can show that be adsrectuired by justice to other classes, and that it would vanta.geous to the country, and even to the parties them ei who would be immediately affected by it, lam not afraid,t with the confidence I entertain in the feelings of t . 4 "e - Englieh people, that there would be any danger attach dig to - such a measure: (Hear.) There were apprehensions, we know, . entertained in 1842 that the imposition of the tree me tax in any shape would be. found unpopular ; but sense of justice and enlightened prudence of the people, !iPpreciatino• as they did the great benefit achieved by its instrumentality, divested it, if not of the unpopularity, certainly of the odious character, which it was thought night generally have attached to it. (Hear, hear.) Well, i ew, what is the case of persons enjoying incomes below 45 0/. ? It Well known that persons of that class have - very largely benefitted by the measures consequent on the income tax up to the present time. (Hear, hear.) Twelve millions of..taxes have been remitted, and they have enjoyed their full share of this without the charge of one farthing. (Hear, hear.) I don't propose that we should carry the tax down to the regions where it would trench . on labour. - To my view it is a right and expedient principle=taking in connexion with it all the circum stances of the case-that we should not trench upon what I would call the territory of labour. That territory will probably' be defined sufficiently for my purpose by the figure of 1001. a-year ; and what lam saying now has reference 'to the - case of incomes between 1001. and 1501. Their case is, that they have enjoyed up to the present tim e the full benefit of the remission of the 12,000,0001. of t axes to which I have referred, But that is not all. If we were going .to continue the income tax for a short Period without any compensating advantage, then, indeed, it might not be expedient that I should ask you to extend it to a letter amount than at present ; but.l am going, be fore I conclude, to ask you to support the Government in enacting a great and beneficial remission of taxes ; and I say, before you confer that groat additional benefit, let us consider whether the results of our plan can be distributed . S_Vtablye xenon the various classes of the community. I will,present to the committee what I think they will con- Sider-.some interesting results with respect to the past °Peration of our recent legislative remissions. With a view---to_tha.. decision of the question which I am now OPening, it appeared to me a matter oreitiiinieifiterest to • collect a number of bona fide cases of the distribution of the expenditure of particular families receiving different _ rates of income, making the proportion in which they had each profited by the adoption of the income tax and the measures connected with it. My right hon. friend the head of the Poor-law Board (Mr. Baines), kindly lent me • his most effective aid, and we have collected a body of in telligence of the kind which I am now about to present to the committee. I shall not trouble you with the details, but merely give the general results of a few bona fide cases of actual expenditure, and I believe they are fair average cases, which will exhibit the actual savings which have been realised by persons whose incomes are below 1501., and also by those whose incomes are above 1501., in cease im tax, and of the re ge° of the adoption of the income o Mission of taxes and changes i n our commercial system But it ht about throughits medium. Which were ,brought should be recoll e cted that, in estimati n g the savings, I have taken credit for the further remissions which I have promised as well as for those which have alreadytaken place. - have collected six cases of i ncomes varying from 175/ to their savings, credit for all a•year ;. and, after taking to make and . fairly piitting down the various items which go up their incomes, I find that their gross incomes amount t0 .• 1,359/. and their gross savings to 63 / . Is. 3d., making a saving dabove 5 per cent. on 'the gross amount 14 their Incomes • and even if you dedtiet the income tax Which they paid there 1 still remain a saving of g2/.165. • 60. or nearly 2 per cent. upon their incom es. This, I think, is not an unsatisfactory result' which I have pre sented to the committee. (Cheers.) But I have likewise put four-cases of the actual expenditure of persons with, Incomes between 1001. and 1501., and these, the committee should understand, are not cases which have been selected for the purpose of- arriving at a particular result, but are cases which have been fairly and honestly, collected for the Purpose of showing the actual distribution of the expendi ture of the two classes to which I have referred. One is the case of a country tradesman with 1201. per annum ; the second, is the case of a retired Li ver p ool tradesman lSix children) with 1201. per annum ; the third is the case of a widow in the country with an income of from 1201. to -.. 15 01. (say 135/, 'per annum) ; and the fourth is the ease of a clerk in a country town with 1001. per annum ; making a total income of 4751., and their gain has been 29/. 6s. 11 d., or between 6 and 7 per cent. Deducting income tax at the rate of sd. in the Pound, the savings would • amount to . 191. 95., or more than 4 per cent. So that You see clearly' from this' that 'the persons with in comes between 1001. and 1501. have apparently profited by the change in our legislation to a greater extent than those with incomes above 1501. (Hear, hear.) I ought to say that in estimating the savings I have endeavoured to keep strictly within the bounds of moderation, and that I have no doubt that the results 'could easily have been swelled if we had chosen. Now, Sir, it appears to us that these facts offer a rather strong reason for considering whether, when we propose to renew the income tax in the case of persons with incomes above 1501., it is not de manded by justice that we should expect that persons with , incomes below 1501. should moderately become sharers in the burden. (Hear, hear.) Her Majesty's Government think that in justice we ought to do so. (Hear, hear.) . What we propose is this-we propose so far to complicate the tax as to introduce a provision that inc o m es b e t ween 100/: and 1501. shall be liable at the rate of sd. in the pound for the whole time during which the tax is levied, so that, - for the first two years, incomes above 1501. will . pay 7d. in the pound, and incomes below 1501. sd. ; for the next two years, the one will pay 6d, and the other 5d., and for the following three years both classes will a lik e pay at the rate of sd. in the pound. I estimate that this tax of 5d.. on incomes from 1001. to 1501. will produce 250,0001_ but as it will not be levied till the latter half of the present • year, the sum of 125,000/. only will come to credit in the financial year of 1852-54. (Hear.) I now come to another great question-the exemption of Ireland. (H e „..) land, in like manner, has received the benefit of the income tax through the changes in our fiscal system but at the same time the equivalent which was intended to be taken has not been exacted. That equivalent was twofold. In the first place it consisted of a duty upon spirits of ls. a gallon, which was abandoned almost as soon as it was enacted. In the second place it consisted of an augmenta tion of the stamp duties-which augmentation was indeed levied for two years • but in 1850 my right hon. friend the President of the Board of Control (Sir C. Wood) made a great reduction in the stamp ditties both of this country and of Ireland, and in that reduction disappeared the in crease which was enacted in Ireland as an equivalent for the income tax. lam not able to speak with absolute pre cision, but as nearly as we can make out, it would appear that the rate at which Ireland pays stamp duties on her transactions is as nearly as possible, on an average, the ' -nanie_as it was in 1812. (Hear, hear.) It is, indeed, true that since the first enactment Of the - income tax Ireland has been visited with an awful calamity, and although that scourge has been mercifully withdrawn, yet traces of it still remain in many social and economical forms-(hear, hear), and especially in the form of. a very heavy and bur densome debt. (Hear.) That is but a fraction, indeed, of the generous aid accorded by the Imperial Parliament to the necessities of Ireland, but at the same time it cannot be denied that it is a very heavy and enduring burden, not on Ireland generally, but on its most distressed parts. But those who look at Ireland cannot avoid being struck by the fact that all Ireland is not alike-that there are • Certain districts that 410 not need to shrink from their full taxation-and which have no reasonable claim or plea to offer for exemption. (Hear, bear.) Let me re mind the com m itt ee w h at exemption means. (H ear , hear.) -Itmeans that we h ave no t go t a b o tt ore l ess purse , a nd that we u •ncannot dispense exem pti ons t o one man w ithout in g another ; that the exemption of one man means the extra taxation of a th no er-and exemption of one country the extra taxation of another. (Hear, hear.) And as this applies tochanges in the • income tax generally, so it applies to Ireland relatively t o England. Wh a t we thi n k, there fore, i s , th at the . case of Ireland demands siderati on in very special CO]] unposedon her, with r espec t t o w hi ch I will say more le. connection with the burdens that have bee , d bye, as a sequel or corollary to the present branch of the meantime, 110 reason why the in I have to say that we see come tax should not be levied on Ire . - T .` "" .- ••.•••••••••••••••••.,•,--• land, as she has received a great portion of the benefit at- Our .mposal wll.l.be that..a 4nty pf.l.s. be added to .the tending the remission of taxes up to the present time, and 3s. Bth - a-gallon Aion Scotch s irits—the Alan drawback to is likely also to profit largely by the rendsdons I have to rerasin_as_ a...pretwint, The - Consumption in Scotland_ is propose to the house. The produce of the income tax which 7,170,000 gallons. The actual revenue is 1,315,0001. The will be laid on Ireland under precisely the same conditions expected revenue is 1,633,000/., which is a gain of 3 18 , 000 /• and for the same term as in England and in Scotlan d—the I m here stop to congratulate a noble lord opposite (Lord produce of the income tax in Ireland I estimate at 460,0001. Naas on having attained a triumph. I ought to have re a year ; but as the tax will not be levied till June next, served this until I came to Ireland, but his victory is at there will be only 230,0001. to come to credit in 1853-54. length achieved. We propose to relieve the distiller, I will now give the committee an account of how my esti- and likewise the time of this house—(a laugh)—by making mate stands, as a whole, with respect to the income tax. an allowance for waste upon spirits in bond. (Hear, The estimated produce of the tax—supposing there to be hear.) That allowance for waste will be in Scotland no change in the existing system—is 5,550,0001. Deduct 40,000/., which will give the net increase of revenue from life a s sur a nces (120,0001.), of which one-half only comes to the increase of the duty upon spirits in Scotland 278,0001. charge this year, viz., 60,000:., there will be left 6,390,030/. The Government have also anxiously considered this ques- The extension below 1501. we reckon at 125,000/. ; and tion as it regards Ireland. It is quite plain, I am the extension to Ireland at 230,0001. ; making the total for afraid, that an - allowance for waste upon spirits in the year 1853-54 according to the proposed plan, 5,845,000/. bond will entail a dimunition of revenue; in fact, that (Hear, hear.) I now come to another proposal for the aug- will amount to a considerable proportion of the revenue mentation of taxation to which I invite the special atten- arising from the duty upon spirits. At present the tion of the c ommittee. It is one of great importance. It spirit duty in Ireland is extremely low in comparison with involves both ec onomical and social considerations of the the duty in the two other countries. There has been highest nature. I have stated to the committee that we found to be a great difficulty as to the means of levying the propose to enlarge our means by new taxation with a view tax, and we think it would not be safe to levy an to further b en eficial changes in our fiscal system. That is additional tax of ls. a-gallon upon home-made spirits in one object we have in view. Another object is—and it is Ireland. But we have looked carefully t o the means at likewise a n i m portant object—to meet the public feeling, our command for enforcing the levying of this tax. In which we recognise and share, that the operation of the Ireland there is a revenue police, which has hitherto had income tax is severe upon intelligence and skill as compared the exclusive charge of enforcing this duty. But there with property. I frankly own my total inability to meet is also maintained in that country at the public cost a large the feeling which has been excited upon the subject of the force, the constabulary, which has had no share what income tax, and that I think I should be guilty of a high ever in giving information to those who have been political offence if I attempted it. But let me now point engaged in levying the spirit duties. We contemplate out to you that if you think that intelligence and skill un - a change in the relation of these two forces. I cannot der our system of taxation pay too much, and property t oo say whether it will be by an absorption of the one force into the other, or in what way it will be done, but the little, there are means of equalising the burdens of the two classes in a manner which would be on the whole safe, constabulary will in some manner give their assistance in the levying of the duty upon spirits. We think we may fairly propose an increase of duty of Bd. per gallon on honourable, and efficacious. Sir, I refer to the question Irish spirits—namely, from 2s. Bd. to 3s. 4d., subject to of the legacy duty—(loud cheers)—a question which it is the deduction of 40,0001., the allowance for waste spirits perfectly plain cannot be dismissed from the consideration . in bond. This will give us a gross gain of 238,0001. upon of the house. In my opinion it is a question of which the earliest settlement will likewise be the best. It requires the consumption of Irish spirits, but, deductingthe allow settlement. The tax is not just as it stand s. And how is ante for waste of 40,0001., we have a net gain of 198 , 0001 . it unjust ? I frankly confess that I have always thought the view of the case, as stated by t he hon. member for That gives from both countries—Scotland and Ireland —an increase of 476,0001. But it is necessary that I Lambeth (Mr. Williams)—who has exerted himself effec should make an allowance for waste in England, not for tively on this subject—(hear, hear)—l have always thought that his view, if I may say so without offence—was a the sake of English distillers, but for the sake of Irish and most inadequate view of the state of the case. (Hear, Scotch distillers, with whom it is a great object to bond hear.) The tax is supposed to favour landed property, their spirits here. (Hear, hear.) There will therefore be which Ido not deny ; but it also favours property which an allowance of 40,000/. for waste in bond in England, au which will leave a net gain from the increased duty upon of revenue that I propose, and has not that claim to favour wh ich landed p ro p erty sp small irits of 436,000/. a-year. (Hear, hear.) There is one and household - property might perhaps fairly u r g e very as a ground of exemption from taxation. (Hear, hear, that is the revenue upon certain classes of licenses. If the from Mr. Williams). lam glad to hear the hon. me - über committee examine the present scale of licenses, they will echoing.that sentiment. I wish to set aside the impression see that they bear very unequally upon the minor and the that the question bears on its front the odious aspect of a question of class. It does no such thing (Hear, hear.) greater tradesmen ; upon some it is uniform, as upon gro- We propose to alter it, and, subject to conditions which I cers and teadealers, and they pay the same, whether they will state, to extend the legacT duty to all successions Pay rent to the valxe of W. or 5001. We do not propose whatever. (Hear, hear.) With respect - to the probate to take up the more important questions as to the licenses duty, at the present moment we do not venture to deal which are connected with the sale of spirits, wine, and wi th, it. The probate linty itself, I grant you, calls for re- beer, but we propose, in regard to the licenses of brewers,' dealers in tea and coffee, tobacco, and soap, to make an form, and if the Government had the means of carrying out that reform in the present year it would have been additional scale of licenses, raising then at the upper end satisfactory to have done so. As it is, we are obliged at of the scale to an ad valorem value. The - gross increase of revenue arising from licenses is 113,0001. The whole present, to . postpone it, but we hope that in a future and amount of increased taxes which we propose to levy , and early year 3t will come under consideration. It is said that the legacy duty is in the nature of a tax upon property. which will come into the accounts of 1853-4, is—income It is a tax upon property, and beause leis a tax upon pro- tax, 295,000/. ; legacy duty, 500,000/. ; duty on spirits, perty it meets the views which have been so much favoured 436,000/. ; licenses, 113,0001., which amount to a total of by a large portion of this house and by public opinion— 1,344,000/.—(cheers)—which, with the anticipated surplus namely, that if the income tax is to bear unequally upon of 805,0001., will give a fund of 2,149,0001. available for intelligence and - skill as compared with property, then that the remission of taxation. (Cheers.) I cannot proceed inequality ought to be redressed in some way or other. further without stating the nature of our intentions with I think this is a safe mode in which to redress that inequ- regard to Ireland. The committee have found that we ality, and if this is a tax upon property it is divested of Propose to make the income tax payable in Ireland for a the danger that attends the taxation of property generally. moderate term, and at a descending rate, as in England, The mischief of taxes upon property is the liability of a and that we propose to ler/ an increased tax of Bd. on constant recurrence of those struggles of classes. But in spirits in Ireland, which may be a net tax of 6d. or 7d. a. carrying into effect this increase in the legacy duty you But after allowing for the waste of spirits in bond. have this great advantage, that the liability to pay occurs But Phase now to refer to that case which I lately men only within the limitation which the laws of a higher tioned of rent-charge formed by the consolidated annui power have ordained ,• that it only occurs once, on the ties. It was the opinion of the Government that it was death of a man ; y id that no man can die more than once. impossible for them to arrive at a final decision upon that (A laugh.) Ima be wrong. (A laugh.) But I assure important subject. They represent a capital of 4,500,0001. of public money, and in dealing with the m the Govern the committee that it appears to me th at this is a most ment must have regard to the actual situation of Ireland, weighty consideration for those whose duty it is to inquire how they can best neutralise the social dangers incident to recovering as it is from a season of the deepest distress, and having also regard to the harmony of the relations be all questions connected with the taxation of property. You find the principle of this tax recognised in our law ;you tween the two countries, the Government thought they find its operation so limited by the very conditions under could not come to a final decision till they had considered which it exists that there is no reason to apprehend the the general plan of finance which it was their duty to re disturbing of a fair settlement of these duties, if once commend, and its bearing upon Ireland. They now re made ; and you will, I think, be of opinion that this is a rommend a measure which, if you adopt, as I trust you fair and right tax to adopt for itself, and that it is one will, will advance us one great step towards establishing which in other respects meets, in the best, safest, and an equalization of taxation between the three countries. most effective manner, the feeling which is I know is pre - (Cheers.) It is true that the income tax is of temporary valent in this house—that the present operation of the in- duration, and that you will show by levying it that there is a bond fid come tax is severe upon intelligence and skill as compared e intention and a rational prospect of equalis with p r op e rty. (Hear, hear.) I propose to retain the ing the taxation. But, at the same time it is important Rresent scale of consanguinity, with one change. (Oh, oh.) that you should consider the great time;of a We cannot go into that now, because the emotion of the Portion of that count r y , and when y ou come to consider hon. member might produce a duellum between him and these things it will be pl • that the am disposition of Parlia me that would inconveniently cross the course of my gene- went will be to adopt large and generous measures, and ral statement; and we must adjourn the consideration of not consider this as a mere ceation of money. Yon will that to another time. (Hear, hear.) We propose to re- consider this you will consider all that it represents—the gain the present scale with one mitigation. that v ri sTo s f it I the famine' c s e o n T, and of Ireland toa visitation, feeling of England to Ireland, scale relations of affinity are, treated as strangers—an that awful the peculiar character of in...law and a daughter-in-law pay a duty of 10 per tone between the England,two t ayhatever made amore kindly countries, and made this debt less of a national creditor and d t of t o h l e . We propose to place them on the footing of relations by blood. (Hear, hear.) We propose that the exemption oi . mint have determined to make a account. The The tofetcrionetsloylidbaelteendgsantneuitthieears establishment real property should no longer exist, subject to the condi- The Govern lam about to mention. The Government propose of debt that that the exemption of settled personalty should no longer exist, and as we abolish the exemption, I now come Poor law in Ireland. That was a great social and Ha to the question— a most grave one for the G ov e rn- tional good—a great and vast good to Ireland.a Lae.- meat to consider, and which they have carefully con- every good to Ireland is also a g ood to England. (Hear,u But sidered—would it be just that all descriptions of pro- hear. ) The other 3,000,0001. consist of debts entirely co' perty, personalty and real property, should be charged netted with the famine. A committee of the other-house at the same rate of duty to the legacy duty ? Our of Parliament have sat on this subject, and the have recom opinion is that it ought not, and we think that a dis- mended a remission of 2,000,0001. of this taxation. Sir, the tinction ought to be taken, but not taken exactly as here Plan of the Government, after maturely considering the tofore. It is obvious, when we regard the burdens upon whole question, is to propose to Parliament that, from and property in this country, that there is a great mass of tax- after the 29th of last September, the consolidated annui ation that attaches to property which may be roughly ties shall - be wholly wiped away. (Cheers from the Irish called—l do not know whether the term is legal—rateable members.) They propose that the whole sum due from Ire property, which includes along with real property a great land to England shall be remitted. In remitting these amount of le u p on asehold, copyhold, and so forth, which is not char g es, and in p ro p osin g an income tax u Ireland, you real property, but which is subject to the burdens - of real will make a great stride towards that, the advantage of property, which is subject to taxation by the income tax, which I hardly know how to • appreciate with reference to which is subject to the land tax, though in a less degree, , bringing the two countries which is subject to the extra charges on the transfer of pro- the prin c iple of equalisedtowards the establishment of taxation. On that subject I need perty, and which is subject generally to all the charges that only add, because am asked what I mean to do with the affect visible property as contrasted with invisible property, arrears, that a and which is liable to the great weight of local taxation. ' due to the 29tNeret in h respect to consolidated annuities There is between these items a sum of 14,000,000/. or been if the law had e) continuedaer will be paid as they would have 15,000,000 1 . of taxes laid entirely on rateable property, nothing will be collected which in force. On the other hand, has become duo since the to which not real property only, not land only, but 29th of September—andwhich has been so col leashold and copyhold property also are subjected. This lected will be returned toa-iros money who have paid it, so as to property is, now subject in both ways to the legacy and take care that the non-paying c e lass s obtain no advantage probate duties, and to all the burdens incident to real over those who have paid. (Hoar.) Weclasses are inviting you to property. The Government propose to amend the whole remit a capital sum, which was nearly 4,500,0001., and is foundation of the law, by striking a new distinction, and still above 4,000,000/. and to remit an annual charge of by saying that whatever exemption or partial advantage 245,0001. Three-fourths of that amount would continue shall be given to real property shall be given in conjunction for 40 years, and one-fourth for from 10 to 30 years. The to other property which is now subjected to special bur- taxation we propose for Ireland• would in the first two dens. We propose, therefore, to abolish the effect of set- years be considerably higher than the taxation we propose dement, so that the person who succeeds to personal to remove ; but if we look to the time when, as I say, Par property will pay according to his interest. He will pay liamen t will be in a position to part with the income tax, upon the capital, if he succeeds to the capital, and if he Ireland would enjoy, and for a long term of years, a much succeeds to a less interest he will pay on the value of that larger remission of consolidated annuity than it would be less interest. The Government, then, thinking it just that subject to additional burthens in the shape of the s pi r it a less amount shall be taken from rateable property than duty. So much for the case of Ireland : and now I have from property that does not pay these special burdens, have done with. that most offensive part of my task, the imposi to ask in what way that d i st inction can best be struck. It tion of taxation, I feel — as it is said men are wont to feel, • has long been the policy of this country—the result of a and as some of us have felt—when they have come an measure accidentally taken, but not the less beneficial— uP-hilljourney to the top of the Alps. Now I have got to that visible and rateable property shOuld be in a manner the downward road, and the plains of Italy are before me. taxed in the form of an annual charge. Now it would be (Hear, hear.) I come to consider the more agreeable subject obviously highly inconsistent, while you are relieving the of the remission of taxation—that remission of taxa average annual burden, to make up for it by laying a heavy tion which up to this moment, not from obstinacy, charge upon the capital. For the Government would then and not from petulance, but from a conviction of our pub force and accelerate by - the pressure of fiscal enactments lit duty, we have thought it right steadily to decline ac force in the tenure of this property,•and that acceleration ceding to. (Hear.) The first remission of taxation I shall would be, in my opinion. not only unjust, but most cruel Propose has reference to the Excise department. It is im and mischievous in a social point of view. We think that the to deny that there are great evils connected with if anything in the nature of a distinction is taken in the the soap tax. ( ( Cries of "hear, hear.") In the first place, legacy duties in favour of rateable property as against the the system of drawbacks, which is a system incident to other deicriptions of property, the fairest mode in the case the use of soap in our manufactories, entails an immense of an estate would be found to be this—that the successor loss. In the second place, this is an article of taxation to real property should be in cases taxed upon the life which is both injurious to the comfort and to the health of interest only, and on a minor interest if he has only a minor the people. (Hear.) In the third place, this is an article on interest. It is difficult for me to enter upon a full discus- which the pressure of the tax is so severe that, notwlth sion, of all the reasons that have led - us to that conclusion• standing the general wisdom and fairness with which your The question is very much connected with the great diffi- Excise laws are administered, notwithstanding the draw culty of any attempt to ascertain the capital values of back yon grant on exportation, your productive power is real property. As a matter of fact, under the social crippled. (Hear, hear.) You cannot compete with the arrangements of this citantry, our great estates are foreigner—your export trade dwindles day by day—and settled estates. Leaving this subject, however, for future gentlemen -who have come to me to represent the case discussion, it is our view that our proposal ought to include with respect to soap well-informed gentlemen have the legacy duties, and that scime remission ought to be stated that if we only take that bold measure with granted to property which is' iv subject to a great weight respect to the soap tax which we recommend, of peculiar and exceptioeal • taxation ; .and we think that over and above the entii e rate of duty the consumer of soap the best mode of framing that provision would be to charge would benefit to the extent of no less than 25 or 30 per the succession of rateable property upon the life interest cent. in consequence of the cheapened production. (Hear.) after ' the deduction of incumbrances. We propose that Therefore for every penny of duty we ask you to surrender the duty should be leviable, as was proposed by Mr. Pitt, we feel that we are giving you double that advantage. in eight h a lf.yearlyinstalments. In cases where there is a There is one other point to which I cannot but feel that I succession to a life interest, our proposal would be that the must advert. The question of the African slave trade is tax should drop in the case of a new successor before the one which excites different feelings. We have but one new instalment is payable ; but in the case of a succession feeling with respect to the extinction of the slave trade, in fee the whole w ill be paid, and if death occurs before but there is a difference with respect to the measures to be the re maining i ns t a lment i s paid the duty will be a debt to taken for that exthiction. Some have thought the means the 'crown aga i ns t th e es t a te. That is our proposal with of force used are unavailing, but that the promotion of le regard to the l egac y duty. I now come to the results gitimate commerce would be the most aatisfactory, the which we anticipate. The produce in the first year vv , m most effective, and the most desirable of all instruments be small. We do n•-1 propose to charge the new duty upon you can apply. (Hear, hear.) It may be said there is a any succession anterior to the period when the committee wide interval between the premises and the conclusion if shall adopt th e reso l u ti on . Th e l a w a llows 12 months for I say, in order to extinguish the slave trade repeal the soap the payment of the legacy duties, and it will be impossible tax. But a conneation more intimate than this any gen to fix the payment of the duty upon rateable property, if tleman cannot well imagi The map would show how the committee s h ou ld a d o pt it, until after one of the ordi- the rivers of Africa might become depots for the trade in nary periods of rent day. The duty in personalty cases Palm oil. The quantities you may receive from that will come in more quickly, but I cannot reckon upon a source are almost immeasurable. There are the great ma larger receipt from the alteration of the legacy duties for terials for a trade which, if youonly relieve it from checks, th e y ear 18e3.54 th an 500,000/• additional duty fro m this will show that the energy, the capital, and the intelligence source. In subsequent years the amount wi'l be greatly of the country are as well entitled to carry away the palm -nlarg e d. I have no o bj ec tion, as far as lam able, to state in this particular—(hear, e ntail and a laugh)—as they show the results of my investigation as to future years, and I themselves to be in so many respects. The gross receipt hink Ido not exaggerate when I ea st that this tax, if it from the soap duty is 1,397,0001.; the drawback, 1 is a d op t e d b y the comm i ttee, w hil e it will add 500,0001. the net receipt, 1,126,0301.; the cost of collection, 15,000/ to the income ; of the present year 1853-4, will add an in- the net loss, 1,111,0001. But with reference to the general . crease of 70 0,000/• to th e r 1854-5, 400,000/. more to the necessity for fixing a time to commence the remission of year 1855-6. and. 400,000/ more to the year 1856-7, making duties, the most convenient time for this purpose in regard a total addition to th to the soap duty the sthof was July. of not less than 2 e permanent taxation of the country But there was al this I must remind,Goo,ooo/. per annum. (Cheers.) And ways a power of keeping in bond if it were thought fit to wholly the committee is tax which will leave do so. There is already a sum due with reference to the untouched the i tel • a (Cheers.) It is a tax of 140 030/ n hgen ce an d s kill of the country. quarter expired , ~ and before the present the relief that you. that gives the relief, and more than quarter is out probably 203,0001. will be due. We have to income tax, but doesail,n at by the re-construction of the credit this year 310,000/., and the net loss for this year necessarily attend that r without the danger which would will be 771,0031. I come next to the division of the stamp e-constru • Mr. DISRAELL—Does -that re-construction. (Cheers.) duties. It is not possible for the Government, with all the dome ? t apply t o the three king- means at their set' ice, to deal with all the articles they The CHANCELLOR of the E would wish. There are articles —suchas fire insurance and general change of the law in the XCHEQUER.___It i s a marine insurance—on which they would gladly, if they present legacytikes and probate could, grant remissions of taxation. But they have made kingdom or the other. One great object at all of one the best choice in their power. One subject that naturally policy would be the equalisation of u of our financial presented itself to them, both in connexion with the in policy I ween the three countries. It is, however, duties be- come tax, and likewise as bearing directly as a tax on pru problem. It is very doubtful whether it , w a i T i ery difficult dence, and bearing especially on the poorer classes, is the tirely attained, but such an approximation to it as be en- present tax on life assurance. It bears very heavily on the a! would poorer classes, though not severe in itself. At present it stop smuggling might , p erha p s, be reac hed. it plain that such an equalisation cannot be obtained at t quite amounts to 2s. 6d. per cent. We propose to reduce it sent by a reduction of the spirit duties in England a pre- from 2s. 6d. to 6d. The produce is 40,0001.—the imme must takr the English duties as the ruling point to \ Z i on. diate loss or relief will be 29,0001. We propose next to the other must be raised. In the present year we do notch deal with an article which in its present state is most un propose to make any change in the English spirit duties, satisfactory, wiiie and that is stamps on receipts. This is aduty for that question is so much mixed up with the licensing' the does not grow as it ought with the transactions of system, and would involve so great a change in the princi- whi erntry, a duty which is evaded wholesale, and a duty plc of licenses in populous districts, that for the It is I n aust say entails very considerable inconvenience. present the English spirit duties must stand over. But cessit of dealinga mere question of charge, but the re present Government are of opinion, after a careful con- with particularY in the particular papers, stamped sideration with respect to Scotland, that there is no and g e t as amounts, which you have to send occasion reaso n why, in the case of Sc otland, there should not be enter very much a moderate mere in the duty upon spirits. I believe , hear.) What we into the question of inconvenience. (Hear. m that an increase of the 'dut y , confined within due adopt a system analogouspropose is, t o ma k e an entire chan g e, and ou nds, would not be opp osed to p ublic o p inion in Scot- nient to the public to the system found so conve with reference :and, or unaccep table in Scotland. (Hear.) An increase that of penny stamps, we to postage —namely , on the duty upon hom e-made s p irits would render neces- . instruments for any pamen ?repose by a penny stamp ,on in money, as contrasted with nary an adjustment of the duty upon colonial spirits, I negotiable instruments, to make which I only mention now without going into details. I Though the first loss o the such . payment valid. revenue will not be incon- THE SUN, LONDON, TUESDAY EVENING, APRIL 10, 1858. Jedf fe r#beii - Wely t iss,po/., it i§ jiot ., 9, pp v*4o4 hope f coven. ,- (]Lear, hqp.r.) ,We tlinlP thqt 'is a , foss to r"which .he committee, _for the sake of so great a _conve-, nience, would be disposed to accede to. [Mr. Bright put a question.] The penny stamp would be necessery to con stitute a valid document. As you have to pay 3d., Gd., is. at present, so we propose to annex the single condition of affixing a penny head as sufficient. We propose to make a change with respect to those indentures of apprentice ship which are known as indentures without consideration. This is a duty which produces very little, from the charge being too high ; from.2os. we propose to reduce the duty to 2s. Gd. The next question is popular with the majority -unpopular with the minority. It is the case of the at torneys. (A laugh.) I must confess that I don t think the vote of the House of Commons taken upon this ques tion would have justified the Government in proposing a remission of this duty, because we feel strongly that a vote of the House of Commons given on a particular duty, is given necessarily on considerations attaching to that par ticular duty, and without reference to the comparative and relative claims of others. ' (Hear, hear.) But we do think, in consideration of legislative changes which have lately been made, and which have tended, by indirect as well as direct action on the law, to diminish the business of attorneys, torneys, that there mightl be a remission of taxation. What remission should it be ? We are not satisfied with the proposal made by the profession. The profession is subject to three charges. The first is on admission to practice, which is small. The charge for the annual cer tificate is 121. for the metropolitan solicitors, and 8/. for country solicitors ; and the charge for as tides of clerkship is put at the enormous amount of 1201.-a charge en capi tal paid by solicitors in anticipation, though they may die, though they may turn out incompetent. The profession said, " Take the tax of the annual certificates for those who are in the profession ; leave those who are to enter to pay precisely the same." (A laugh.) We don't think that would be a fair mode of dealing. (Hear, hear.) la' jug made up our minds that we may propose a remission of probably about 50,0301., we propose to reduce certificates from 121. and 8/. to 91. and 61., and articles of apprentice ship from 1201. to 801. I come now to the question as to advertisements. (Hear, hear.) With respect to that question I hope that the committee will not consider that it indicates any disrespect for the judgment to which the majority of the house arrived, if haling the same object in view, and desiring to bring about some or a more effective classification of taxation, we have been led by our examinations to believe that there is a better mode of proceeding than that which the house adopted, think it our duty.respectfully to submit that mode of proceeding to the deliberate consideration of the committee ; and it is right I should say that the plan I am about to state was a plan which the Government had adopted at the time of the debate on Thursday last. (Hear, hear, hear.) It may perhaps, be said, " Why did you not say so ?" My answer is this-that it was from no motives of mortification, that it was from no desire to practise an undue reserve ' • it was because wo feel that, if the Executive Gtovernmentis, with ad vantage to the country, ordinarily to discharge the func tion of the initiative with respect to finance, it is absolutely necessary that the strictest silence should be observed -(loud cries of " Hear, hear")-not in contempt of pres sure, but yet, notwithstanding pressure-till the time arrive when the views of the Government shall be disclosed. What we propose with respect to the duty upon advertise ments is this-and financially our proposal comes within a mere trifle (within 20,0001.) of the other. The present duty on advertisements is 181,0001. We propose to reduce the duty from ls. 6d. to 6d. (A cry of "Oh ! ' followed by cries of " Hear, hear.") The hon. gentleman could not wait on Thursday last for four days, and now he cannot wait for as many minut3s. (A laugh.) May I make that moderate demand on his patience ? It is absurd, and most of all would it be so, to take only. the plan of the right hon.' gentleman the member for Manchester, who hadconsidered this question, and consider the duty on advertisements alone, You must • consider it with reference to the other duties which affect the journals in which those advertise ments appear. (Hear, hear.) I venture to say that, if you repeal the duty on advertisements simply, and leave the duties on the supplements to newspapers as they are, it is very doubtful whether a great part of your reduction will not go into the pockets of newspaper proprietors. You want a large increase in the number of advertisements, but you must take care that you don't subject people to taxation in another form by multiplying their advertise. ments. Take the case ,of the Times. You know,it is obliged to limit its advertisements. I will not go into that subject ; but there is a point beyond which, in conseq aence of the ld. stamp on supplements, and the id. stamp on supplements, it does not pay to insert advertisements, on account of the supplement ; and therefore a time comes when they must have alimit to the ad v ertisements , and put h i g her price on them' on account of the supplement. What we propose is this ,- reduce the duty on advertise ments a b to taking off the remainder of which the plan of the right hon. g en tl ema n did not meddle, namely, the ld. and id, stamps on the supplements of the duty t t y o o 6 n d.tidavnedrliisnesmteeandts o, f to repeal altogether that with newspapers which are used for printing advertisements. (Hear, hear.) And I venture to say the plan we propose is far more scare to secure to the advertiser the benefit of ' •the reduction than the plan which you propose ; because, if you remove the advertisement duty altogether, then when advertisements come into a newspaper, they must either be limited to the present sheet of the newspaper, . with the present limited space, and no competition, or they must be liabre to that heavy stamp duty which discourages the printing of supplements. The first loss on the adver tisement duty and the supplement stamps will be 160,0001. The only other change we propose 'is contingent on a bill by which the noblelord the Secretary for the Home Depart ment proposes to effect a material reduction for the benefit of the metropolis. It is proposed to reduce the taxation on hackney carriages. A common hackneycarriage payslOs. a-week. We think there ought to be a reduction. We propose to reduce the duty from is. sd. a-day to is. a-day, which will give a relief of 26,003/. The relief from the remission of taxation on the division of stamp duties will be 418,000/. With reference to the point of the duty on advertisements, I hope that, in addition to the proposition • I have stated as regards the bearing of the plan proposed here and the bearing of that proposed by the Government, the committee will be willing to consider the effect that is likely to be produced by sweeping away all branches of the revenue, if they are not revenue of a description which does not seriously interfere with or constitute a burden on the community. I really don't see how it is possible to maintain any duty on fire and marine insurances-any duty on a great many articles which I fear have over long been the objects of taxation-if the arguments against the present advelltisement duty are to be pushed to such a length as to stop nothi ig slim ;, of absolute remission. We propose, also, to the committee that they should attempt to snake a reform of the assessed taxes. That is a propo sition which cannot, fail to be acceptable; but the opera tion is not an easy one. If it is to be successful it must proceed on three principles-the abolition of what are called the progressive duties ; the abolition of what are called compositions ; and, lastly, the abolition, or the almost abolition, of exemptions, and the substitution of rates and taxes which shall be few, simple, and as nearly as possible uniform. What the Government proposes is, that instead of the .present duties on• men-servants, be ginning at a vtin /mum rate of 1/. 6s. Gd., and running up through a great variety o f ra t es , a unform rate of one guinea on servants above 18 yea7s of age shall be levied, and of 10s. CI. on servants under 18. Upon pl.:vote carriages we propose, ir stead of such chargii of 6/. 12s, 4/. 15s. Gd., and 3/. lls. Gd., to charge 3/. 10s. ' 2/., and 15s. The duty on carria ges l e t f or hi re , s uc h as post chaises, will remain at 3/. ; but the particulars relating to this subject will be more explicitly stated in the resolu tions. The duty on horses, beginning at 1/. Ils. 7d., runs up to a great variety of rates. We propose that trade horses shall remain as now, that the duty on ponies shall be 10s. Gd., and on other horses 21s. [An hon. member put a question.] The hon. member asks what we propose with respect to agricultural horses. We propose to leave them as they are now- exemp t . ( A laugh.) We may be wrong. Exemptions, as exemptions, I do not like ; but it appears to me that the case of. _agricultural horses is strictly ana logous to that of st eam -p ower on railways. O ur o bj ec t is, irrespective o fa vour , f fear or to propose what • we think impartial justice to every class. I have received proposals suggesting the imp os iti on of taxes on s t eam -p ower . Of these • 1 need not say th ey were summar ily dismissed. Whatever my love of symmetry, I don't think it just to remove the exemption o f duty which applies at present to horses employed in agriculture. We propose to make a simplification of the duty on dogs, which are not so much taxed as the rest of the community. There are two rates of charge at present on dogs-a duty of 145., and Bs. ; and these we propose to unite at a sum of 12s. The immediate effect o f th es e c h anges w ill be a loss of 87,000/. on servant s , 95,000/ . on pr i va t e car riages,llB,ooo/, on horses ; but we have a gain of 10,0001. in the case of dogs-so that the fi rs t l oss b y th e rem i s sion of assessed taxes will be 290,0001. A s i n t h e case o f s tamps, however, our hope is that th e fi rs t l oss w ill b e m ade up to the re venue, The assessed taxes are levied under 72 acts of Parliament-(hear, hear)-and if the house wants the sys tem of these assessed taxes reformed it must be prepared to support us in the principle of subjecting to moderate duties a great variety of articles. (Hear.) We propose, also, to change.a system that, does not strictly apply to as sessed taxes, but which is of an analogous character. I hmlsieb!eactear facilities for the allude to the post-horse duties. (Hear.) The case of the post-horse masters is a very hard one. The present system issuingm ann manner o o ff tickets is exceedingly unequal. The duty, which is heavy and burdensome, is levied on mileage, and is subjected . to all difficultiestaken in the up collection. at t h may state r in the first instance, that I believe the largest turnpike raised pik; b a y nd th l e postmasters in the kingdom are in London, whose principal traffic is to the railway stations, where there are no turn pikes whate'ver. (Hear, hear.) Altogether the system have difficult, the duty onerous in its amount, and,as . I ha erst i deal ing with this matter, to take the plan that has been sub mitted to us by the postmasters themselves. Their own said, is unequal in its distaibution. We propose, in proposal was a very fair one, for they were not so much for a remission of taxation as an entire change of the sys tem. They propose that the bulk of the tax shall be les, Led in the form of licenses , which licenses shall vary according to the number of horses and coinages. (Hear, hear.) In (11 for , ear.) We propose this way we propose to make a remission of 54,000/. a year horses and carriages yaeayre.ar,mgievairn,g, hear.)as I ian schemef avour of ff dutiest h e p postmasters. sotamtahs givingr cs i c e assessed taxes is pro hwahivechsawidil,l a real ve i m se is a si s o u n m ho o ef f Another change under t The present land re demption of the tax. the land tax is ve mat • t law for the redemption of posed with the view of limled 17 ria r ' ly i . ;You may re deem and its operation is exceeding b transferring to the Com a tax of 1/. levied on the land, of y the National Debt 225. a• missioners for the Reduction are extremely unfavourable 10 instead of recovering per cent. more than terms ; and, Tv ose to reduce it by 17 the amount of the tax, we P than the i per cent.-to take 7i per cent. les s, The same amount of committee should be stock in land. (Hear, bear.). made with relation to these matters aware that any change during the present cannot come into operation . f the session we should ask the house if at a future perio d o shall then we to pass an act called the Assessed Tax Act, fix the date for sth O c tober, 185 3 , and not for sth April, losses of revenue, or commutations 1853. Out of all th ese of taxes, under this b ra nch of the assessed taxes onl y post-horse d u ty would come izito effect th is 54,0001. of Pw" a. half of it would be charged from sth year, and only one a n important branch o f remission to October. I have st ill mention. There would be a loss of revenue in the plan reference to colonial postage, but on that I proposed with doubt if any part of it would come into do not enter, as I N o w, with reference to the Customs the present year. t hat no branch of revenue has attract duties, I may state f the Government as they feel the attention i.) , ed more all, that the elasticity of the powers that it is here, after of the country have been ahown-(hear, hear)-and they . think that it is by to th es e powers they are supported in the pro p os al they produce an effective result as regards many articles of ni makeCustos' duties. (Hear, hear.) I will first f ortance in whioh we can make m ention an article o imp of wine. I refer to this and that is the article. . . . . no change , subject of peculiar susceptibility, and the tax, as it is a ' out of doors, which is almost as peril cause of an agitation climates are to the growth to the wine duties as certain . 0118 desirabl e laugh)-and because it is that of wine itself-(a laug Governmentthick no change can be if the house and the made in the duty, that opinion of the house and the Go sliOnld' be Clearly ikutl intelligiblyympieasecl, (Hear.) There are three platis,any one of whielanight be folloived - with - regard to wines. - : One - *mild-be-to reduce the duty to a low uniform duty of la. 6d.,0r 20., or 2s. 6d. the gallon. Now, you cannot do that unless you ' are pre pared to sacrifice an amount of revenue for the firsi; year of 700,0001., besides an increased difficulty in the drawback on stocks on hand, with respect to which it is not impossible that the Government might form a sturdy resolution in which the House of Commons might afterwards be induced to concur. (Hear, hear.) But whether that be so or not, a loss to the revenue of 700,C301. or more is not to be put in comparison with other objects that the Government have in view. (Hear, hear.) Another plan would be to fix a duty of several rates on wine of different values, somewhat resembling the duty on different qualities of sugar. But if that is attended with difficulty in the case of sugar, with how much greater difficulty would it not beattended i n that of wine ? (Hear, hear.) It has the recommendation, certainly, that it would admit low classes of wine at a less loss to the revenue. But the Revenue Department would have the greatest difficulty in carrying out, such a system ; it would be complex in its Operation ; the wine trade, almost to a man, is opposed to it ; and I cannot say that public opinion is so much in its favour as to inducnus to attempt to carry it into effect. (Hear, hear.) That being so, there is no choice for us but to say that, whatever be our opinion of the operation of the present vine duties, we are unable to propose any change in them at the present time, neither can ;we see any early prospect of a change hereafter. (Hear.) Igo to the next article, which is tea. (Hear, hear.) I won't discuss the reasons that exist for reducing the tea duties. It would be idle to do so, for they are already settled in public opinion. (Hear, hear.) And, as we have agreed to make a reduction in the tea duties, so we have acceded to the general principle recognised by the right hon. gentleman (Mr. Disraeli) as that of the late Ad ministration, that it would be most unwise to make the reduction to Is. by a single leap. (Hear, hear.) It is almost demonstrable, as far as a negative is capable of de monstration, that you cannot' have the slightest hope of such an increase of supply as would indemnify . the revenue, or even bring loss within moderate bounds, and, what is of yet more importance, secure the main benefit of the reduc tion to the consumer. (Hear, hear.( What we propose is this—to take the first step that was taken by the right hon. gentleman opposite last year, and reduce the duty at once from 2s. 21d. to is. 10d. (Hear.) We have carefully considered the state and prospects of the supplies of tea. The condition : f the Chinese empire at this moment is cer tainly not favourable to such extended supplies as we could wish. We cannot entertain, very sanguine expectations that any large addition will be made in 1.2 months to the quantity available for the wants of this market ; but in the end, we hope and believe, if there be not a-chronic state -of revolution in China, that, so far as the production of tea is concerned, a short time, a couple of years or so, would be sufficient to put us in possession of a large addi tion to our supply. (Hear.) We propose, therefore, to take the first step as the right hon. gentleman (Mr. Dis raeli) took it, but we propose thereafter to proceed some what more rapidly. (Hear.) We shall take the duty from the date :when the house, if it • coincides with us in opinion, shall adopt the resolutions. To the sth of April, 1854, it will be is. 10d., to the sth of April, 1854-5 it will Is. 6d., to April, 18.55-6, ls. 3d., and from April, 1356, it will beds. (Cheers.) The whole time. occupied, in effect ing the descent from 2s. 244. to Is. would. be less than three years: We hope, with favourable circumstances, thus to bring in the supply necgissary to meet the increased demand, but we could not venture to recommend to the house the adoption of any shorter period' for effecting the change. (Hear.) The house must not suppose that this is a change which, if We take a clear and dispassionate view of it, can be effected without a heavy loss to the revenue in the first instance. The amount of remission, indeed, will be enormous. If any gentleman will calculate the differ ence between 2s. 4id. and ls. on the amount of tea con sumed during the last year, he will find it come to 3,000,000/.—a sum much too large to reckon upon recover ing all at once. By the arrangement I have stated the loss for the first year will be 366,00 )1. for the sec on d year 510,0001., for the third year 454,000/. and for th e f our kb year 60400/., making altogether a foss in Customs' re venue in these years of 1,934,0( Y. (Hear.) But at the same time the,. loss, we trust, will undergo a rapid and steady diminntion. In proceeding to consider more gene rally the state of our tariff, we have been desirous to carry out something like a new revision of taxes, and to apply to it the following general rules:—First, to abolish altogether the duties which are unproductive, except in cases where there may be some special reason on account of their rela tion to other articles ; and, in the next place, to abolish, as far as considerations of revenue will permit, duties on articles of manufacture except such as are in the last stage; and commonly connected with hand-labour, in regard to which cases we have thought it more 'prudent and proper to proceed in the mode no t . of abolition. but of reduction, and in these cases we h ave endeavoured to fix the duties in such a way that they should not reach, as to any class of goods, higher • than 10 per cent. on their value. As I have referred to 10 per cent., I may state 'that we have not thought it right to propose a reduction in the silk duties, which are 15 per cent. The question of the silk duties is mainly a question of revenue, and in regard to it we do not think it is an article that has the strongest claims upon our consideration—for, in so far as it is an article into the manufacture of which protection enters, the protection has mainly reference to certain classes of operatives, with re spect to whom it would be the disposition of Parliament to proceed carefully and cautiously. We desire further whenever it can be done to take the mode of substituting rated duties for duties ad valorem, and to get rid in ()Very case, except in a few instances, where it is important on account of revenue, of the five per'cent. Customs' duties made in 1840, which, besides raising duties; greatly complicate the tran sactions of business. (Hear, hear.) We propose, in many instances, where there are at present differential duties in favour of British possessions, to sink those differential duties altogether by lowering , the foreign article to the level of the colonial ; but where we are not able to lower -the foreign article to the level of the colonial we have not thought it would be considerate in any case to raise theluty on the colonial article. (Hear hear.) Lastly, we have been desirous to lower the duties that press on foreign articles of food which enter largely if not into the necessa ries of life, at any rate into the solace and comfort of the people. (Hear.) Now, the application of those rules is this—First, as to articles of food we propose to lower the duty on a number of articles, of which the principal are as follow :—Apples, from 2s. a bushel to 3d.; cheese, from ss. to 2s. 6d. per cwt.; cocoa, from 2d. to ld. per posind ; nuts, •from 2s. to ls. per bushel; eggs, from 10d. to 4d. per 120; oranges and lemons, to Bd. per bushel; butter, from 10s. to ss. per cwt.; raisins, from 15s. 9d. to 10s. per cwt. (Hear, hear.) The produce of these articles to the revenue at the present moment is 571,0001.; the immediate relief given by the reduction on the same quantities would be 262,0001,; but, with the allowance which we think may be made for an immediate increase of consumption, the probable net loss will be 185,0001. (Hear.) Besides these articles of food, which are 13 in number, including tea, are 123 articles which we propose to set altogether free from duty, involving a loss of 53,0001., and 133 more arti cles which we propose to reduce, involving a gross loss of 70,C301., but which, with increased consumption, may be taken at 52,0001. (Hear, hear.) The effect of this will be to create a simplification of the present system ; but at the same time I must draw attention to the fact that the changes of ad 'valorem duties into rated duties will call for greater specification, and the resolutions I shall lay on the table will enable the house, when they come to the consi deration of them, to assist the Government in determining whether in any of the cases I have stated it will not be better to adhere to the ad valorem duty. (Hear, hear.) All I now say is, that if the proposal does not wear the appearance of simplicity that may be desired, it is because the change tends to multiply specification. (Hear, hear.) The effect of these various changes in the Customs' duties, as applicable to the year 1853-54, will be to produce a gross loss of 1,338,0001., but a loss which, we trust, will again be reduced by increase of consumption to 658,0001. (Hear, hear.) The remission of taxes we propose as applicable to 1853-54 will cause a gross loss in the Excise of 786,0001., or a net loss of 771,0001.; in stamps, a gross loss of 417,0001., or a net loss of 200,0001.; in post-horses, 27,000/.; in Customs, altogether, the gross amount of 1,338,000/., or a net loss of 658,0001.—(hear, hear)—thus showing ,a re mission of taxation for the present year of 2,568,0001. — (cheers)—and a , loss -incurred by the revenue after allow ing for the degree in which the remission will be placed by increased consumption, of 1,656,0001. (Cheers.) There fore, Sir, the state of the account for' 1853-54 stands thus : . —We have a surplus of 805,000/. We invite you to grant us the means of raising by new taxes the sum of 1,344,0001. —making an available fund of 2,149,0001. We propose to enact, and to take effect at once, a remission of taxes that will , entail a loss to the revenue of 1,656,0001. There will remain a surplus sum of 493,0031., of which a portion, ex ceeding 200,0001., will be, not from permanent sources, but money that will not come in again. The commit tee will be of, opinion that it would 'not be prudent, especially as we ha - cal in contemplation a scheme affecting the debt, to pro ceed with a surplus less than this. I have still the import- ' ant duty to discharge of redeeming the pledge which I gave the committee, to the effect that the Government were not paltering with you nor with the people of England about the income tax, but that when we state we propose to place you in a condition to remove it at a future day, which we are prepared to define, we make that proposal on the basis of calculations which, though they might not be tried as minutely as if they referred to the present moment only, yet, I think, are on a most safe and secure calculation. (Hear, hear.) First let me . present the balance-sheet for 1854-55. , We left'the year 1853.54 with a surplus of about half a million, a considerable portion of which does not consist of permanent income. 1854-55 I give you an additional source of income that will be available. , That additional charge will be—on the tea duties, 510,0001. ; on post horses, 27,0031. ; the remainder of the soap duties, 340,0001. ; assessed taxes, 170,000/. ; colonial postage, 40,0001. All the additional charges which we now invite you to calculate upon for 1854-55 will be 1,087,0001. (Hear.) Then the legacy duty will be available for the second year to the extent of 700,000/. ; the 31 per Cents., of which, according to the usual principle of computation, one-half is taken credit for, will give a sum of 312,000/. The second moiety of the extension, of the income tax will add to this income 295,0001. Putting these sums together, you will find that the whole additional charge proposed to be made for 1854-5 Will be 1,087,0001. • and b the additional income which I propose bein g 1,307,0001., there will be, so far as that year is concerned, a profit which will justify the house, I think, in giving its assent to the remissions which I have proposed for relief. At the same time it is right that the committee should have fully and clearly in view the complete extent of these remissions of indirect taxa tion. They will be as follow :—Soap duties, 1,260,0001. (I am now taking the extent of the relief) ; stamps, 418,0001. ; assessed taxes, 290,000/. ; post-horses, 54,000/. ; total—so far as the Board of Inland Revenue is concerned —1,888,0001. Then, in the Customs' duties the gross loss will be no less than 3,084,0004; on articles of food—butter, cheese, and so on-262,0001. ; on minor duties, 120,000/. ; or a total relief under the head of Customs' duties of 3,466,0001. (Hear, hear.) Adding to these various amounts the small sum I have described under the head of colonial postage-40,0001.—th0 entire amount of remissions of in direct taxation to which•the Government now ins ite the committee to assent will be not less than 5,384,00)1. (Cheers.) With the remission of indirect taxation we propose to combine the bringing about a state of things, or the rational prospect of a state of things, in which you can, if you so please, really part with the income tax. (Hear, hear.) Let me represent to you the state of accounts which sums up and winds up the whole of this protracted statement. The- remissions of indirect tax ation proposed amount, as I have just explained, to a gross loss of 5,384,000/. Looking back to the remissions which have been made in late years, which began in 1842, and which were renewed on a very largo scale in 1845, 1846, we find that these remissions—in terms, some of them of 11 years, some of them in five or six years, but in the mean term of seven or eight years—have and completelyd morein increasetpowerful that t h t that wsa tapyua recovered manner tnlhad: themselves. (Hear, hear.) The effect of such remissions we have found to be two-fold—first, that upon the parti cular ed in so country, articles him - to fl ar e ye still secondly, tb consumption mrpaoeedrfoe, variousplo e ef n , nt b h l n general consumer, operating to the extension and invigora tion ing and widening the means of consumption of the mat replacing the loss occasioned by remission. (Hear, hear.) Wo assume that what has happened before will happen again ' • that these remissions of indirect taxation, which are-anala.gons witlialie_remissions which have been made heretofore, as these former re`mission's"7ia done; re= place themselves in about the same time— (hear, hear) — and I therefore assume that, so far as these remissions are concerned, you will, by the expiration of the income tax, find these taxes very nearly in amount what they now are. I will not enter into the question of what taxes you may think proper to repeal or reduce in the interval. It is suffi cient for me to provide for the remissions which I now pro pose, and in the proposition of which I do not invite you to undermine, but on the contrary, I ask you to increase the stability of the financial system of the country. (Cheers.) Well, then, how are we to attain a rational prospect of being able to part with the income tax in 1860 ? The country after so many announcements that have been made to it from time to time that the income tax was to be parted with, has become, doubtless, increduloukon the sub ject, and ma y, p er h aps, conceive that we are aiming at a fictitious and undeserved pOpularity when we seek to show that by the effect of indirect taxation we can enable the house to supersede the income tax ; but the statements be fore the committee, the committee and the country can form their own judgment on them. (Hear, hear.) The amount of the income tax, as we have it now, is 5,550,001. —this amount will be increased, as I have proposed, by the addition of 590,000/. The gross amount, therefore, of this duty, so increased, will be 6,140,0001. I will not enter into a detail of its composition, and of the descending rates, but, taking the tax at 6,140,0001., let IL9 inquire in what condition Parliament will stand with reference to the part ing with so large a sum of money. It will stand thus :—ln the first place there will be, as additions to the permanent sources of income—legacy duty, 2,000,000/. ; spirits, 436,0001.; licenses, 113,0001.; making a total of 2,549,0001. towards the fund which we must provide in order to put Parliament in a position, if it should so think fit, to part with the income tax. (Hear, hear.) Well, then, we come to the anticipated reductions of charge, which of course will be as effectual to the purpose in view as positive addi tions to the revenue. (Hear, hear.) The first of these re ductions of charge is that on the Three-and-a-Quarter per Cents., which we owe to the wise measures of the right hon. member for Cambridge in 1842 ; that will bring to the account 624,0001. Bad as is our case with regard to the national debt, and loath as I am to encourage extravagant expectations in that quarter, yet it must be recollected that by the regular application of surpluses, and by the lapse of annuities, we in a small way operate from year to year, both on the capital debt and on the charge. (Hear, hear.) Look back for the last 11 years, and you will find that since 1842 we have reduced the charge of the national debt, irrespective of greater operations, by 80,0001. per annum. I will assume this to continue, assuming, at the same time, that whatever the pressure upon our finances, and whoever may hold the reins of Government, that we shall always think it one of our main public duties -- the very first of or duties—to make ample provision for the efficiency of the public serv:ce and the credit and honour of the country. (Hear, hear.) I will assume, I say, that we shall continue to have the same fund appli cable to the yearly reduction of the charge which we have had heretofore, and taking this at 80,0001. per annum for the eight years up to 1861, this will give you a sum of C 40,063/. Adding this reduction of charge, which may be reasonably expected, to the sums to be created by the new means of taxation—which latter I have stated to be 2,549,0001.—we shall have an aggregate total of 3,813,0001. Then, in 1859-60, there come falling in the hea%f burdens of the Long Annuities and of another large portion of on*. terminable annuities, which together will operate a relief of 2,146,000/. Adding this amount to the sum of 3,813,6001., which I have already stated, you w: 1 1 find that, between the additional sources from taxation, and thereduction of charge which will accrue in the interval, and the falling in, of the Long and other Annuities at the expiration of the period I have named, there will be an available increase of means at the disposal of Parliament, should the present plan of the Government be adopted, to no less an amount than 5,959,0001., against the 6,140,000/. of income tax, which will be the total amount of that tax at that period. (Cheers.) Thus, if the committee has followed me, they will understand that we stand on the principle that the income tax ought to be marked as a temporary measure (hear, hear) ; that the public feeling that relief should be given to intelligence and skill as com pared with property, ought to be met and may be met ; that the income tax in its operation ought to be mitigated by every rational means compatible with its integrity, and above all that it should be associated in the last term of its existence, as it was in the first, with those remissions of indirect taxation which have so greatly redounded to the profit of this. country, and have set so admirable an example—an example that has already in some quarters proved contagious to the other nations of the earth. (Hear, hear.) These are the principles:on which we stand, and the figures. I have shown y ou th a t if you grant us the taxes which we ask, the moderate amount of 2,500,0001. in the whole, a much less than that sum for the present year, you or the Parliament which may be in existence in 1860, will be in the condition, if you so think fit, to part vc ith the income tax. (Hear, hear.) lam almost afraid to look at the clock— (cheers)—shamefully reminding me, as it must, how long I have trespassed on the time of the house. (Cheers.) All I can say in apology is, that I have endeavoured to keep closely to the topics which I had before me "—immensum spatiis confecimus mquor, Et jam teinpus equum fumantia solvere colla." These are the proposals of the Government. They may be approved, or they may be condemned, but I have this full confidence that it will be admitted that wo have notsought to evade the difficulties of the position—(hear)--that we have not concealed those difficulties eitherfrom ourselves or from others—that we have not attempted to counteract them by narrow orffimsy expedients—(hear)—that we have prepared plans which, if you will adopt them, will go some way to close up many vexed financial questions, which, if not now settled, may be attended - w ith public inconvenience, and even with public danger, in future years and under less fa vourable circumstances—(hear)—that wehave endeavoured, in the plans we have now submitted to you, to make the path of our successors in future years not more arduous, but more easy—(hear)—and I may be permitted to add, that while we have sought to do justice by the changes we pro pose in taxation, to intelligence, and skill, as compared with property, while we have sought to do justice to the great labour community of England by furthering their relief from indirect taxation, we have not been guided by any de sire to put one class against another. We have felt we should best maintain our own honour, that we should best, meet the views of Parliament, and best promote the inter ests of the country, by declining to draw any invidious dis tinction between class and class, by adopting it to ourselvs as a sacred aim to diffuse and distribute the burdens, if we must—and the burdens, if we can—with equal and impar tial hand ; and we have the consolation of believing that by proposals such as these we contribute, as far as in us lies, not only to develope the material resources of the country, but to knit the various parts of this great nation yet more closely than over to that throne and to those in stitutions under which it is our happiness to Jive. The right hon. gentleman resumed his seat amid loud, long continued, and general cheering. The CHAIRMAN having read the resolutions which had been put into his hands by the Chancellor of the Exchequer, Mr. DISRAELI asked on what day the right hon. gentle man proposed to take the discussion on them ? The CHANCELLOR of the EXCHEQUER said that he should lay the whole of the resolutions on the table, and proposed to have the discussion on them on Monday next, taking the income tax first, the legacy duty next, and the spirit duties third. Mr. HUME said that the speech of the right hon.gentle man was so extensive that it was impossible, without some consideration, to weigh its disadvantages and its advan tages. There was this great point about the statement, that it manifested the determination to carry out the principles of free trade, but he deeply regretted the manner in which the question of the income tax had been taken up. Ho was satisfied that the taxation of the country would never bo placed on a proper footing until a property tax to a large extent, and justly regulated, became a permanent source of revenue. From such a tax eight or nine millions a-year might be easily raised. lie regretted, too, that any increased taxation should have been proposed, considering as he did the expenditure whi c h gave rise t o that increased taxation worse than useless. (Hear.) He thought con tinuing a tax for nine years was almost making it a per petuity without giving the house the advantages of de ciding whether or not it should be so. If they were to add to the taxation, ho must express his regret that they had not adopted a simple, easp, and possible mode of raising the required amount of revenue without one-tenth of the difficulties which the Chancellor of the Exchequer had felt in his budget. Mr. FREWEN hoped the right hon. gentleman would give some explanation of what ho meant to do with the land tax. The CHANCELLOR of the EXCHEQUER said that under the present stem, they might re d eem a g i ven amount of land tax, by transferring to the Commis s i oners of the Nation a l D e bt as much stock as would produce a di vidend the amount of the land tax and ten per cent, more. What he proposed was, that instead o f b e i ng b oun d to g i ve as much sto c k as would produce the amount of land tax and 10 per cent, more, they might redeem it by giving as much stock as would produce the duty less 74 per cent. ; that was, altogether, 17A per cent. less than at present. Mr. BALL had been prepared to receive the budget of the .right hon. gentleman with very great approbation, but he received it with deep regret, and should do all ho could to induce the house to vote against it when it came regu larly before them. When the corn laws were repealed, it, was expected that some relief would be given to the agri culturists, and he was exceedingly surprised, therefore, that the right hon. gentleman had neglected to afford them the relief of tho repeal of the malt tax. As to the reduction of the duty on tea, the poorer classes would derive no be nefit from it, for it had been ascertained that the greater part of the tea that was consumed was purchased in quan tities from a quarter of an ounce to a quarter of a pound. The late Government was wrecked on the budget of the right hon. gentleman below him, and it was not unlikely the present Government might be wrecked from the same cause. Mr. MAGUIRE understood that, as to the advertisement duty in England, there was to be a remission of ls., so that it would be 6d. only, instead of ls. 6d. But the advertise ment duty in Ireland was but is. He should wish, there fore, to know what the duty was to be in future. In Ire land there was no such thing as a supplement to a paper known, and he believed that even in London, too, the Tines alone published a supplement. Tho CHANCELLOR of the EXCHEQUER was under stood to say, that, with respect to the advertisement duty, he was willing to compound for it in Ireland at the same amount as in this country. Mr. COBDEN wished to know whether the right hon. gentleman proposed to remit the stamps on all supplements, or whether he meant to put the stamp on supplements with news. . The CHANCELLGR of the EXCHEQUER said the re mission of the stamp would not extend to supplements that were simply an extension of newspapers. Mr. COBDEN—Did the right lion. gentleman mean that su pplements might go by post ? The CHANCELLOR of the EXCHEQUER—CertainIy. Mr. COBDEN believed that there was but one nows: paper in the kingdom that published a supplement full of advertisements. Mr. HUME wished the Government would take in to their consideration this absurdity—th at ships built with foreign timber might be brought into this country free of duty, but timber to build ships hero cannot be brought in without paying duty. Tho CHANCELLOR of the EXCHEQ, ER to say his want of m -11 --- was ex tremely sorry of will, prevented him from taking 3 eoaffnstheant(ilmnboetr hdiustNvaiitf his hon. friend would give he might be able to do so him Q° . 42 31. or 4 00,000/. more Mr. HUME said, that. if.-11)1.:up-r-o.pierty tax was fairly levied it would give 10 Chancellor of the Ex h ' ' • and do much- The progress, SOUTH bill, On the more. house then resum e d , and asked lea OC3 000/ and would enable the and equer th take off the timber dul h y e , and the Chairman reported leave to sit again. SEA AND OTHER ANN'UITIES COMMU TATION BILL. order of the day for the second reading of this Mr. * J. B. SMITH 'said, he •"would not"obJeet to the second reading, if it were not understood that by doing so the house assented to the principle of the measure. The CHANCELLOR of the EXCHEQUER said, his reason-for-desiring that the house should kindly consent to the second reading was, that the question of time i - v - a - s - Very important for the convenience of parties, as notice must be given to all persons holding South Sea Stock. Mr. HUME objected to the principle of the bill. He thought they were not in a condition to make such an ex periment as was proposed by this measure. The bill was then read a second time, and ordered to be committed on Thursday next. COMBINATION OF WORKMEN. On the order of the day for the third reading of this bill, The ATTORNEY-GENERAL objected to the bill being read a third time, on the ground that the measure was unne cessary. He understood the object of it was to correct a supposed misapprehension of the law on the part of Mr. Justice Erie in a case that was tried before him at Stafford in 1851. It was supposed that he laid it down as the law, that workmen could not legally combine for their mutual protection with a view to keep up the rate of wages or limit the number of hours during which their masters might employ them. He believed the learned judge had stated the law correctly ; but whether that were so or not, the Court of Queen's Bench had stated the law upon the subject quite correctly. The learned judge stated that the law was quite clear, and that workmen had a right to com bine for their own protection, to obtain such wages as they chose to demand, or to gain themselves any benefit; but a combination to prevent men from working, or for any such purpose, was unlawful. The case afterwards came on before the Court of Queen's Bench, and they laid down the law in the same way. He could not, therefore, think this bill was necessary. Mr. DRUMMOND said it was very well for the learned gentleman to say the bill was unnecessary, but he had stated no other reason against it. It was to do what wes intended by the Remedial Bill introduced by the hon. member for Montrose several years ago. There had been great discussions between the masters and workmen for many years, and Lord Stanley, at that time a member of the house, presided over the committee, and a bill was prepared, .with which all p ar ti es were satisfied, and which put an end to all disputes. So the matter stood as to the necessity of the case. The bill might be unnecessary for the Attorney-G enera l, or p oss ibl y f or h i mself, but there had been contradictory decisions in the courts of law. a a d( dcIN (Hear, hear.) nethert hoheearl a .) kiw,n L gb o u rd mt igh C he hi t e w f ariaa J Campbell m knew oral not (0 at m ai Joseph,g u h g t h ) l ay ae us no t t w ic h e im o might decide another way. As a proof that the law was not clear, nine persons had got impsonment for three months and to pay the sts amounting to 3,0001. All he asked by this bill was to have a declaratory statute stating what the law really was. Mr. M. FORSTER oppo S ed the bill. Mr. HUME thought, th a t as there appeared to be a difference of opinion among the lawyers, it was d • ble to pass the present bill to settl e th e doubt.desirable Mr. HADFIELD supported the bill. The house divided : For the third reading Against it ... 57 ... 70 Majority against the bill ... ... 13 THE CUSTOMS' DEPARTMENT. Mr. WILSON gave notice that he would make his state ment on this subject on Thursday at 5 o'clock. On the motion of the same honourable member a bill was brought in and read a first time to consolidate the London and Edinburgh Gazettes. The other business on the paper being disposed of, the house adjourned at a quarter past 11 o'clock. THE FRENCH EMPIRE. The ceremony of presenting the newly appointed Car dinal Morlot, A rc hbi s h op o f T ours , with the cardinal's hat, took place on Sunday, at the Tuileries. .Two court carriages conveyed th e new car di n al and his suite to the palace. He was accompanied by Mgr. the Ablegate of the Pope, by one of the noble guards of his Holiness, and by a master of the ceremonies ; and his suite con sisted of the Abbe M a l mouc h e, Fi rst G ran d Vicar of his Eminence ; and of the Abbes Manceau, canon of Tours ; Etienne, general superior of the seminary at Tours ; Deguerry, curs of the Madeline ; Martin de Noirlieu, cure of Saint Louis d'Antin ; Duplessy, honorary canon of Nevers, cure of Pithiviers ; Mac Carthy, Chicollot, and Noirot, Inspector-General of Public Instruction. The cortege alighted at the Pavil lion de Flore. The cardinal proceeded to a room near the chapel containing the ornaments of his dignity ; and the Ablegate was conducted to the audience of the Emperor, in the cabinet of his Majesty, where the princes of the Imperial Family, the Ministers, and the officers on service were assembled. The ceremony was both gorgeous and impressive. It appears that Louis Napoleon has once more ap plied to the Austrian Government for the remains of the Duke de Reichstadt. His wish is that the remains of the Emperor Napoleon and his son should be trans ported at the same time to the Cathedral of St. Denis. It is probable that this new request will meet with the fate of its predecessors. The Austrian GoVernment has steadily refused to give up the body of the Duke de Reichstadt, which lies amidst the rest of the Imperial family of Austria in the Church of St. Augustine, at Vienna. Every day adds to the number of persons arrested in Paris and the departments. These measures are directed exclusively against the Socialists, and have been caused by a subscription for a loan which MM. Felix Piat, Biochot, and Caussidiere have attempted to get up in France. Some of the subscription lists have been dis covered, and all the subscribers have been arrested. The legislative body met yesterday ; M. Billault in the chair. The Assembly then commenced the discus sion of the bill relative to the promotion of the superior officers of the navy. The Patric says :—" The Chartists of London cele brated the anniversary of Robespierre on the 13th. The French refugees were invited to attend, but only Nadaud and a score of Socialists of the lowest class were present." The market for rentes continues to improve, and prices have again advanced, exhibiting firmness, with an upward tendency at the close of business. The Three per Cents, for the account rose 30c., and the Four-and-a-Half per Cents, 40c. ; in the Four-and-a- Half per Cents, for cash no Change occurred, but the Three per Cents. advanced 25c. A decline of sf, again took place in Bank shares. The closing prices were : For Cash : Three per Cents., 80f. 60. ; Four-and-a-Half Cents Cents., 103 f. 70c. For the account : Three per ~ 80f. 60c. ; Four -and-a-Half per Cents., 108 f. 70c. Bank shares, 2,730 f. In the railway share mar ket to-day there was much activity, and an advance in price took place in those securities : in Paris and Rouen to the extent of 20f., -and of 13f, in Paris and Stras bourg ; most of the other principal lines improved from sf. to 10f. each. The last prices were : Northerns, 917 f. 75c. ; Orleans, 1,050 f. ; Paris and Strasbourg, 853 f. ; Paris and Lyons, 949 f. ; Paris and Rouen, 1,105 f. ; Lyons to the Mediterranean 812 f. 50c. ; Western of Fran ce , 777 f. ; Rouen and Havre, 532 f. 50c. ; Bordeaux and Cette, 647 f. 75c. ; Caen and Cherbourg, 635 f. ; Dijon and Besan9on, 580 f. , SPAIN. We have received in due course the Madrid journals and letters of the 13th, but they do not contain a line of information which had not previously reached us, by ex press or by telegraphic dispatch. The Debats says :—" In the list of the new Spanish !ministry figures the name of M. Ayllon, now Spanish Ambassador at Vienna. There is reason to believe that General Lersundi has not consulted him on the subject, and that he is not certain of his consent. The friends of M. Ayllon, who is very well known in Paris, where he was attached to the Span4h embassy, doubt his accept ance of the portfolio of Foreign Affairs. We, in fact, remember that he w as some years since named to that important post, but that he refused it." We read in the Ur iota :—" Our letters from Madrid confirm the facts before stated on the subject of the sus pension of the Cortes. The following are more complete details : —The speeches of General Emanuel Concha to the Senate, and of General Prim to the Congress, in the sitting of the 6th, excited great alarm and considerable discontent in the Court, and it is said that they were sent for to the palace in order to be remon strated with. Far from paying any attention to this, General Concha declared that in the sitting of the Bth, he would produce written proofs of the charges which had been made on the malversa tions which had taken place not only on the railways from Madrid to Aranjuez, and from Aranjuez to Al manza, but also on other points of the `pu bic adminis tration. His declarations, he said, would tend to com promise some very exalted personages, but nothing should stop him. In the evening the President of the Senate was ordered to read at the very opening of the sittitir the degree of suspension, and requested not to allow any one to speak, and it appears that, in order to support these orders, a company of infantry was in readiness to clear the hall of the Cortes in case of resistance. In consequence of this event several high functionaries, both civil and military, were dismissed, particularly General Schneil, director-general of cavalry, and M. Orvognes, civil governor f Madrid. Other s rece i ved orders to take up their residence in provincial towns, and several were expelled from the Spanish territory ; the names of the latter are not mentioned." ITALY. The Ticino Gazette announces that the Council of State of that canton having asked permission of the Federal Council to devote the 1 0,000 f. it has sent for theo relief of th e poor Ticinese expelled from Lombardy, t furnishing thos e who are willing, with sufficient mnreiy o leave the c ountry in order to seek work in fogn parts, the Federal Council has acquiesced in that course. A letter from Milan of the 13th, in the Opinione of Turin, states that the deputation of Milanese gentlemen who had gone to Vienna with an address suggested to them by Count Gyulai himself, praying for a an eitigation of th e sequestration decree, has met with mitigation of the sequestratjo decree, has met with an extremely cold reception at Vienna. , The Grand Duke of Tuscany left Florence on the 11th for Leghorn, in order to visit the preparatory works in the new port of that city, the execution of which is car ried on with great activity. THE Enressox.—This noble ship lies at her dock in Williamsburg, where improvements are being made ii the machinery. The main difficulty hitherto encountered has arisen from the want of a perfect connexion of two sections of an air pipe, near the bottom of one of the cylin ders. Though connected by rivets, the working of the engine prevented such a union of the parts as to allow of the full use of the power otherwise available. It is said that it has been determined to substitute a single castbil, for the defective parts, and that the difficulty will be ~_ ob viated at once. This change is now being made. I : l2 'ie w a r e engine has been perfect throughout ; and when bo_w inuch complete, it is believed that the Ericsson v . eill_be,,i' e n ; y or k better condition to prove her capabilities • •a, Herald.