The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1860-02-21 00:00:00

COMMERCIAL OPINIONS UPON THE

BUDGET.

THE TEA THADE.—A meeting of the wholesale tea
traders was held on Monday week in SI Intake
into conaideration the propositions of the Chancellor of
the Exam pier in respect more particularly to the bond-
ing iiyatem, and generally as affecting the trade in tea. •
thnitletuen representing the following large establish
-
merits were present Messrs. Peek, Brothers; Moffatt
and Co., Harrison and Canfield; Cock, Sparin, and
Co.; Travers and Cu., Edwards and :ions Enchain and
Co., W. S. Shuttelworth and Co., Loeock and Son,
Rowley and Davis, A. Crocker and t'o., Twining and Co,
ISteaina and Co., Wathen and Son ; Bennett, Brown, and
Cu. ; Bullivant and Wilson ; Lewis, Brothers; Hilhoom
and Son's, Clarke and Rowe, Holborn and Sons, Philpott
and Cooper, Woollott and Cu., Baldwin and Waters, 1).
Loyd awl Co., Podinure and Co., Davison and Newman,
and Cayleton and Co.
Mr. D. Moffatt having token the chair, commenced by
remarking that the variation between the statement
made by the Chancellor of the Exchequer in the blouse
of Commons on Friday evening and the printed reoolu-
lions that had since been laid upon the table had taken
the commercial world by surprise. The stamp of one
penny on contract notes, which was stated by the right
lion. gentleman to apply only to notes of sale of foreign
and colonial produce and broker's to contracts, was
made by the resulut to extend to this sale or purchase
of goods, wares, and merchandise f every description ;
consequently, every note of sale Or purchase, whether
large or small, would henceforth be subject to a tax of
one penny. A duty of 3d. wa •ropobed upon every
dock warrant, and upon every order for the delivery of
and description of gouda' froin any warehouse in any part
of the united kingdom. A stamp of Id. was eloo to be
imposed upon orders for tiayment of any sum of money,
large or small, to any third party in the united kingdom;
and a sixpenny stamp was to be imposed upon any
written engagement to pay any sum of money to the
amount of Maud upwards at any future time. The
proposed charge, too, of Id. upon every package of goods
imported or exported would iii its operation be found to
be of a inert obstructive and oppruive character. These
were some of the objectionable portions of the b tidget ; but
theobject for which the meeting had been more especially
convened was to point out the very heavy, obstructive,
and vexatious charges it was contemplated to impose
upon the existing bonding system of the country. The
emir.) of the various Govenimento for the hist 10 years
hod been to extend the bonding privilege in every manner
consistent with the security of the revenue. acting upon
the principle that removing obstructions and increasing
facilities for obtaining goods liable to duties with the
: leach possible outlay of capital was a great additional
incentive to an increase of commercial transactions in all
I ouch articles. This policy appeared by the resolutions
to have been cast iuide, if not entirely reversed. The
charges now intended to be impooed upon the removal
of goods under bond would amount in many instances to
a practical prohibition of the privilege, and all the
charges would, more or less, be onerous and vexatious.
The meeting had therefore been called to consider
whether such chaiges were wrranted under existing
circumstances. Up to the premnt time charges for
bonding had been practically abolished, which by causing
an increased consumption was quite as advantageous
to the revenue as any charges that could be imposed.
Bud it was obvious that these iniporta would be suicidal
in reference to tea; for, instead of tea being purchased
in bond, it would in future be purchased on psyment of
duty ; for people would not avail themselves of the
privilege of bonding. Were they, then prepared for
I such a step? Noy, was the Howie of Commons prepared
' for it -An additional charge of Is. • chest was also to
be imposed for the re-weighing of tea. The Cuttoins
refused to recognize the re-weighing by the Dock Coni•
pany. There were other vexatious charges, but lie had
called the attention of the meeting to the main points—
! viz., charges on contract notes, on duck warrants, and
on orders for payment of money, but, above all, to the
vexatious interference with the bonding oyst...mi, which
he would •Ihrui did at the prelient time work most
I satisfactorily. It was his wish to discuss this subject
with kindness of spirit to the Government. It was 110 t
to be supposed that the Chaneellor a the Exchequer
had any intentions after the speech lie hail made, and
from limo well-known character for fairness and straight-
forward dealing with the mercantile interest of the
country, to pl ice upon his resolutions any construction
other than that which the mercantile world must
necessarily put upon them. (Hear, hear.) Ile would
remind the meeting thot there was not inucli time for
them to discoss these matters, and therefore it behoved
them to take prompt action. (Hear, hear.)
After some further discussion, a resolution was unani-
anously adopted for the appointment of a committee to
take such steps as would be most likely to prevent the
I enactment of the obnoxious charges proposed by the
Government.
A committee of eight gentlemen was then appointed,
and after a vote of thanks to the chairman the meeting
separated.