The Press.
London, England, 1855-04-21 00:00:00

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wrote a poem against the Irish Tories, whom he ably desorihed as
going first to Heligoland, and then to another place with a shorter
name. That colony, therefore, has its political use. The next,
please?
Mr. B.: The Cape of Goo I Hope.
Lord JOHN : Ah, and those infernal Kaffirs, and still more abo-
minable colonists. What a deal of trouble they have given about the
convicts, instead of allowing the Home Government to work out its
own plans. In old times it was called the Cape of Tempests, and I
think the former title was the most suitable. I dare say I shall have
a good deal of bother with that Cape.
Mr. 13.: Ceylon.
Lord JOHN : Hang it, Mr. 8., you've got into a set of pleasant re-
collections. Lord Torrington, and so forth. 1 made a very good joke
about its capital being sugar-candy, ha ! ha! I forget exactly how I
put it, but it nearly killed Charles Wood with laughing. Ceylon—
" spicy breezes"—Bishop Heber's hymn—all right.
Mr. B.: The Bermudas.
Lord JOHN : Waller, the poet, has described them. I never knew
any other use of them.
Mr. B.: Barbadoes.
Lord JOHN : The scene of the story of " Inkle and Yarico," and
in the play of that name there is a chorus containing the words, "And
all Barbadoes bells shall ring." This was an inaccurate expression,
for at the time, and for long after, there was but one bell in the
You see, Mr. 8., that inaccuracy seldom evades detection. The island
itself I don't seem to know much about, but I have an impression that
everybody there is always being ruined.
Mr. B.: Montserrat.
Lord JOHN : Is that one? I never heard the name, except in Sir.
Walter Seott's charming tale, the " Talisman." Is not the Marquis of
Montserrat one of the characters ?
Mr. B.: Hong-Kong.
Lord Joss: Ah ! that's in China. I know all about that. By the
Way, make a memorandum to see which way the Chinese revolution is
going. if I thought the rebels were quite sure to succeed, I would
interfere and protect them against the tyranny of the Imperialists.
Palmerston thinks nobody can do the non-intervention business but
himself.
Mr. B.: Mauritius.
Lord Jolts : That was where that unscrupulous libeller, the late
Hook, got into a scrape ; and serve him right, for assailing his superiors
in birth and ability.
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such difficult negotiation in the market that it had
never been possible to raise a single large sum by
this means. They involve, in fact, the complex
principle of repayment at once of principal and in•
terest, which increase the difficulty of their terms.
He theh pointed oat the inconvenience of making
regulations for the full repa3ment of loans at stated
times. He quoted the reductions of the interest of
the national debt since the conclusion of the war,
and the income tax, which bad then at ten per cent.
produced 14,8t40,000/., while last year at six per cent.
it produced little short of fourteen pillions, thus
showing the increased inicome of the country, and
its increased power of bearing taxation.. For all
these reasons the Government bad dceided on the
creation of a loan of sixteen millions, with a sinking
fund annexed of a million. He then traced the pro-
gress of taxation from the beginning of the late war,
showing its great increase during the war, notwith-
standing the large stuns borrowed. He now pro-
posed to raise by taxation a sum of 5,300,0001. For
his purpose he increased the duty on sugar by 38.
the cwt., and estimated the gain to the revenue at
1,4400,000/. Further, he added one penny
.a pound
on coffee, which would produce 150,0001. The next
was an addition to tea, the duty on which be raised
to Is. 9d. in the pound, estimating the increase at
750,0001. He then proposed to remove the exemp-
tion from stamp duty on bankers' cheques, making
200,000/. increase. The duty on Scotch spirits
would be assimilated to that on English, being
raised from Os. 3d. to 7s. 101, and that on Irish raw
from 4s. to Os. The increase would be a million
sterling. It would be advisable to throw a part of
the burden on direct taxation. The ineomeltax
afforded the fairest means, and he proposed a simple
addition of one per cent. to the existing tax, by
adding twopence in the pound to the present fourteen-
pence, which he calculated would meet the deficit
yet required to complete the entire additional taxa-
tion. lie asked for the liberty of issuing 3,000,0001.
additional Exchequer-bills to meet further demands.
He then adverted to the proposed loan, which would
be taken on equitable terms, and the resolution§ re-
specting which *tire read from the chair.
Mr. LAING said that the house should not, without
due consideration, commit itself to the principles
just announced. Twelve months ago we were told
not to throw the whole burden on posterity. The
present juncture was one in which it was necessary
to alter our plan ; but we are not prepared at once
for such a total alteration of the system under which
we have been so long acting. He entered into many
practical details to prove, that if a definite proposal
ad been laid before the puLlic for the entire