The Express.
London, England, 1863-04-17 00:00:00

stood the charge of is 6d. on bills of lading out-
wards, smiths! would also cease at the same time.
The revenue from these charges was 191,000!., the
loss for the present year being 94,0001. Referring to
the minor incomes subject to income tax, he stated
that when that tax was first imposed by Mr. Pitt
it touched incomes of 601. a year, but the full force
of the tax was felt only on incomes of 2001., and
that was the limit at which the full operation of
the tax was then fixed. The limit was afterwards
1501. during its continuance as an impost, and Sir
R. Peel revived it at that amount. In 1853, when
the tax was renewed for seven years, the limit was
taken downwards to 1001. a year. The real *ore in
the working of the tax was with regard to iuoomes
between 100/. and 2001. a year. It was proposed
to retain the income of 1001 as the point at which
a man was taxable, and to fix that of 2001. as the
point when he should come under the full force
of the tax, to remove the rate of 1601. altogether,
and to allow the man in the receipt of an income
between 1001. and 2001. to deduct 601. from his
taxable income, which would largely reduce the
amount of the tax on a pro raid scale. With re-
gard to the tea and sugar duties, it was thought
advisable in dealing with them to choose one of
them rather than to divide reduction between them.
Reviewing the arguments in favour of reduction
on both aides, he stated that he had
come to the conclusion that the duty on
tea should be reduced to la. a lb., which
would take effect immediately after a resolution
should be agreed to by the house on Thursday next,
and the remission would come into operation on
Saturday week. The duty would stand thus till
1861. The result would be that a diminution of
revenue was estimated in the case of tea at
1,300,0001. As regarded the decrease in the revenue
from the income tax consequent on the proposed
change, if a decrease was to be made from 9d. and
7d. in the pound to 7d. and 6d., the loss would
be 2,350,1. per annum, while by the
relief to minor incomes there would be a loss of
1,300,0001. on the present year. It was proposed to
make a reduction of 2d. in the pound on the general
rate, and thus the whole remission of taxation on
the year would be 3,340,0001., while the total
remission, present and prospective, would be
4,601,0001 The surplus at his disposal, taking into
account the additions to taxation which had been
made, was 3,874,0001. ; and after the remissions
above stated there would be left an actual surplus
of 534,0001. With that surplus it was not proposed
to part. In an elaborate review of the income and
expenditure of the country in the last four years,
the right hon. gentleman showed the state of the
balances in the exchequer, and stated that be
should move resolutions empowering him
to pay Exchequer Bonds due next mouth out
of the balances, although he should ask for
powers to re-burrow the sum so paid off
in. the course of the year, if necessary. He
showed that in those four years 8,000,0001. bad
been paid for war expeuditure in China, and the
charge of the reconstruction of the navy had been
met ; and this out of the ordinary resources of
the country. Drawing attention to some statistics
in reference to the trade of the country, he pointed
out that there had been a very large increase in
the consumption of paper. The imports of foreign
paper had largely increased, but there had also been
• great increase in the manufacture and export
of British paper, while the import of rags bad
been added to in more than an equal proportion.
As regarded wine, there had been a small increase
in the trade in Spanish wines, and a slight diminu-
tion in those of France and Portugal. Referring
to the trade with America and France, he showed
a decrease of 6,000,0001. in trade with the former,
while in the case of France there had been an in-
crease of over 12,000,0001. He stated that in the
nineteen years of the income tax, which was im-
posed for the purpose of assisting the development
of the resources of the country by means of remission
of taxes on the industry of the country, there
bad been an extension of the wealth of the coun-
try amounting to 65,000,000/. of annual income.
Drawing a powerful comparison between the
financial position and the condition of the
people of this and other countries, he attributed
such a state of things to the legislation of late years,
as well as to the energy and industry of the
British people ; and, referring to the large mili-
tary expenditure of the world, he expressed a hope
that the fact of a large reduction at this moment
of the burdens of the country would be accepted as
a friendly challenge to other nations to contribute
to the harmony and peace of the civilised world.
The right hon. gentleman concluded amidst loud
cheers, having spoken nearly three hours.

Mr. WHITE said he had very great pleasure in expressing
his aatidaction with the admirable budget of the Chanoallor
of the Exchequer. At this time, when there was comparative
political indifference existing in the country, it was a matter
of rejoicing to and that they post/seed one statesman who
felt himself bound to perform the proteins and to carry out
the policy which he had macleand advocated while in opposi-
Moo.

Lord R. MONTAGU said the Chancellor of the Ex-
chequer, in the opening of his speech, had apologised for
what he termed the great and rapid augmentation of the
public expenditure from 1859 to 1863, during the time
her Majesty's present government had been io °Moe.
The right hon. gentleman laid the blame of the increased
public expenditure on the honse,and not oa the government
to which he belonged. He said the course taken by the
government was justified by the vote of the house on the
amendment of the right hon. gentleman the member for the
University of Cambridge upon the motion of the hon. mem-
ber for Halifax ; but he memory must have failed him as to
what took place on that occasion, as the present prime
miuister then declared the issue to he which party should
remain in power. The Chancellor of the Exchequer
claimed to be carrying out the policy which the late Sir HAL
Peel inaugurated in 1842, but the course he had pursued
was very different from that policy. Sir R. Peel took off
taxes from raw produce and the necessities of life ; but
what had the right hoe. gentleman done?? He reduced the
customs duties on wine and tobacco, which were articles of
luxury. How could that benefit the poor man? The whole
pith and marrow of the French treaty was this—that the
right hoe. gentleman lightened the taxes which bore on the
rich, and left untouched thaw which were imposed ou arti-
cam which chiefly formed the food of the people. He took
off duties from French gloves, ribbons, lace, brocade, jewels
sod walking sticks, which could not be said to be used by the
poor. Nor was he 000teut with taxing the rich man's
carnage, omnibuses, and other public conveyances, but he
must put • tax on poor carriers. He wished to know whether
the sum for fortifications was included in the right hoe.
gentleman's estimates? (The CIUNCILUM of the Ex-
CRIQUIta replied "Nis") Then that should certainly be
added to the expenditure of the year ; if it were it would
materially reduce the surplus which the right hon. gentle-
man mid be had.
Mr. CRAW FORD said the statement of the right hon.
gentleman was so simple and precise in it. terms that any
member might, without exposits himself to a charge of rash-
ness,venture at once to make • few comments on the change
be had proposed in the financial arrangements of the country.
Speaking on behalf of the great commercial community
with which he was connected, he was prepared to express
hie perfect concurrence in the views which the right hoe.
gtleman had proponeded on behalf of the government.
(Hear, hear.)
Yr. VANCE regretted that his honourable friend
the member for Queen's County had been unable'
to bring before the house the subject of the taxation
of Ireland, behaving that a discussion of that matter
might have altered or modified the proposals of the Chan-
cellor of the Exchequer. He thought that spirits formed
one of the beat articles for taxation, and if they could by
taxation diminish its use among the people, they would
greatly promote their morality and prosperity. They ought
to fix the duty at as high an amount as they could do
without giving rise to the evil of illicit distillation, but he
thought the Chancellor of the Exchequer had exceeded
that amount. The house would be surprised to hear that
in Ireland now the number of gallons of spirits
brought to charge in the year was oily
about half what it was in 1852. (Hear, hear.)
Is 1852, when the duty was 2s. &l. a gallon, 8,200,000
gallons were brought to charge, but in 1862, when the dot,
was Kb., the number was only 4,600,000 gallons. The con-
clusion inevitably was that there must be a large amount of
illicit distillation in Ireland. The duty of 24. Bd.
might be too low, but he was certain that 10s. was
too high. In the city he represented no less than
eleven Hint stills had been seized within the last year.
The last time he saw returns on the subject, they showed
that illegal distillatioe was on the increase. There were
formerly 50 large distilleries in Ireland, and now there were
only 18, the difference beteg made up by illicit stills. More-
over, notwithstanding that there was apparent diminution
in the select spirits, there bad been an increase in the num-
ber of commitments for drunkenness—a significant fact
pointing to the same conclusion.
Mr. SCULLY agreed that the budget might be a matter
at megratulation to every Eaglishman or to every China-
man, like hie hon. friend (Mr. White) ; but there was
little in it to benefit Ireland.

Ur. POWELL (C.erobsidge) observed with ream that
no proposition was nude for the abattoir or rsdoo-
tkw duty ea firs insurances. One feature in the
financial scheme would be received in some parts of the
country with cosaidsrable reeerve—he alluded to the tax to
be imposed epee eharitta Es wield be glad to boom
wbratim the silims• would be aztesdad to sadoesd sail