The Express.
London, England, 1862-05-31 00:00:00

THE SLAVE TRADE.

Earl RUSSELL begged to say that her Majesty's govern-
ment had remind a communication from the Spaniels go-
lumwent, in which the Litter promised to use all the vigi-
brace in their power fur the suppression of the traffic in
aims.
Lord BROUGHAM had no doubt that any pledge given
blt the Spanish government would be redeemed. Hs trusted
tha suggestion of Marshal Serrano would be acted upon, and
the slave trade made piracy.
THE WHITSUNTIDE HOLIDAYS. _

Marl GRANVILLE said that if no objection were offered
le should propose to adjourn their lordships house for the
Whitsuntide holidays from Thursday neat to Friday in the
ii:lewieg week. (Hear, hear.)
LOCAL GOVERNMENT SUPPLEMENTAL BILL
This bill pared through committee.
CUSTOMS AND INLAND REVENUE BILL.

larilaigilLLE moved the third reading of this bill.
Ho said that us asking their lordship! to accept this bill, he
would admit that it undoubtedly involved a very large
clot of taxation ; but, on the other hand, he thought it
mama be cossidered a beneficial improvement. The esti-

muted expenditure of the year was exactly 70,000,0001.,
and the estimated receipts amounted to 70,190,0001., re-
duced by 10,0001. in consequence of a change made in the
ether house with regard to one small estimate. The esti-
mated surplus was 180,0001., which wan a smaller surplus
than usual. With regard to the smallness of the surplus.
no doubt in the course of events it was wise and prudent to
leave a large margin for possible contingencies, but their
lantillips must be aware that there were some years when
it became perfectly impurible—when a country was at war
it was utterly impossible to do so, or even to reconcile the
estimate of expenditure with the revenue of the year.
(Near, hear.) The question he would ask their lordships to
imasider was whether there was anything in the present cir-
umstances of the country that affected the condition of
liamicial affairs in a somewhat intermediate poaition—
.

whether they were in fact in • perfect normal Mae, that it
101Ireasoosble to expect the usual rule should be applied.
The Earl of CASNAMVON observed that each
yeses budget was • budget, not of facts and
eseurtained figures, but of imagination and ingenious
simulation, calculated merely to tickle the este, but
east really worth the paper ou which it was made ;
sad the result was, that public confidence was
destroyed, and distrust was engendered 'oy • system that
prropted a spirit of speculation and gambling which went
to the root of public morality. (Hear.) This proceeded, he
believed, from two causes. It was partly the consequence
a • moral deficiency and partly from a failure of fiaancial
paiaciple. The moral deficiency was owing to an over-san-
pine but naut dangerous temperament which led the Chao-
allot of the Exchequer to overrate income and under-rate
expenditure. Starting from seM-deceptiom he ended by
deceiving others, and turned finance from • matter of hard,
dry calculation into • question of mere guess work.
Be believed this proceeded from the great error on thepart of
the right hoe. gentleman of never estimating for • surplus.
Be (the Earl of Garnarvon) did not say of realizing a surplus,
far except in 1853 the right hon. gentleman had never reu
Mud • single shilling of repine—but in never estimating
for a surplus he drew his calculations always so fine as to
leave no margin, or • margin of not more than 150,0001. or
180,0001., and if he so closely equalized his expenditure and
his income, did it not follow that the slightest unfavourabk
tarn in the course of events must disturb the whole calculi'.
tioos. No landowner or private gentleman would pupal the
sere principle of living up to the utmost farthieg of his
estimated income —(" bear," and • laugh)—without taking
into coconut the chance of a bed harvest, failure of rents,
Imes by fire, or other accidents or vieinitudes that might
arise. He might almost venture to any that Mr.
IHndatoee had been uniforady the minister of small our-
pine (Hear bear.) la 1863 he estimated for • largesur-
plus of 870,0001., and those who remembered that year would
be struck with the power of greater prudence, reserve,
end self-restraint which the right hoe. gentleman then
exhibited, but which was not to be found in any
ire of his subsequent financial statements. In 1854,
although it was • year of war, he estimated
far a surplus of 430.0001. In 1860 his estimated surplus
mu 460,0001. ; but that year actually showed • deficiency
of more then 2,600,0001. In the year just pared, 1861, he
estimated for a surplus of 400,0001., and the falling off was
still greater, and this year they came down to the miserable
figure of 150,0001., or, as the noble earl opposite said,
paltry figure
Looking at the vast extent of this em-
pine, the various interests of the country, and the
slate of affairs in different parts of the world, he
eared whether such • provision was either rte or
asditable? (Hear, hear.) Mr. Gladstone was • few years
age averse to the continuation of the duties on tea and
saw, but in defiance rf his former policy he now retained
theca. Mr. Gladstone was when in office in 1853 very bitter
spinet the Income tam but in recent years be had raised it
sneesesively from Id. in the pound to 10d., 9d., and lid.
From these conflicting principles he could not see one single
wet upon which they could rest with security. There
INA nothing to be seen above the troubled waters
but one land-mark, and that was the income tax.
Upon that the present credit of the country was sustained,
and upon that their prospects in every national emergency
would depend—(hear, her),— because whereas they oad
formerly many sources of taxation coming in from all quay.
teem and affecting all clamor, but crushing none, sow the
bed subititutoi for them one iron and despotic role which
in the very nature of things must be unequal, and which
was generally highly oppressive in its operation. (Hear,
hear.) If this tax wu to be of permanent duration, then
it ought to be moderate in amount, but now they had the
-dredvantage of both—they had this tax high in amount,
and the alterations which had been effected in raising the sup-
plies made this tax more sod more permanent in its duration.
lie believed that all fiscal revolutions were in every age
the precursors of social and political revolutions, while on
the other heed on well-ordered finance public life and
public morality depended. (Hear, hear.) In conclusion,
he would imploretheir lordships mat earnestly to review the
present state of our financial condition with sensitive
scrupulousness, as it was their bounden duty and right to
do. They ought to watch with the utmost jealousy a sys-
tem of finance so sew and so dangerous as that which they
Imre entering upon, but to which ho believed in his heart of
hearts, they were not irrevocably committed. I (Cheer.)
The Duke of NEWCASTLE said the greater part of the
noble earl's speech was an attack on the financial policyof Mr.
Gladstone; but being a much older man In
that house, be would recommend to his noble
friend in future not to attempt oratorical dis-
play in dealing with matters of finance, but to rely ma
these figures upon which all their lordships could fall back
.sad form a correct judgment. But whilst his noble friend
bad made • personal anal severe attack on Mr. Gladstone, it
should be recollected that the right hon. gentleman was
sot there to defend himself. There was no desire, how-
ever, our the part of himself or any of his colleagues in the
government to shrink from the responsibility of the
measures which the government had brought forward. He
believed that this country, instead of being, as his noble
friend had represented, bordering on bankruptcy, was in •
sound financial condition, so far as the circumstances of the
moment would allow. The noble earl rated that
the tendency of Mr. Gladst ne's financial policy was
to destroy public confidence and to strike at the root of
public morality. With respect to the former of these
charm he would ask their lordships whether, under the
most adverse circumstances, there had teen any unusual
!actuation is the funds ; even during the late threateniog
aspect of affairs with the United States, whether the funds
had not maintained remarkable steadiness. (Hear, hear.)
As to the effect of these measures upon public morality, he
confessed he did not understand the argument. (Hear.)
He could not see how these fiscal arrangements could have
the effect of destroying public morality, nod be would
therefore dwell no longer upon the subject. It was rid by
hie noble friend that Mr. Gladstone durst not do what he

believed to be right, hut he could assure their lordships that
if there was one member of the government who was firm
of purpose—or, if the noble earl liked the term, obstinate—
it was Mr. Gladstone in maintaining his opinion spinet
those to whom he might be opposed. The noble earl corn.
planed that there was no surplus, and that really was the
gist of the whole case, when stripped of rhetorical orna-
neetandpsnonalsllusinas. The noble earl had admitted that
which had been denied in another place, that the last two or
three years were exceptional years. W hen greatdistreas ern ted
to the country, with a war in New Zealand, with existing
eveuts in China, and when large armaments were maintained
Ty oar opposite neighbour—(hear, bear)—and when large
armaments bad to be prepared and maintained here, surely
it could not be raid that the present was not an exceptional
time. His noble friend went on to attack the Chancellor of
the Exchequer for stating that he could not do ns he liked,
because he would be run in upon by a majority of the
House of Commons. It is a notorious fact that. there is
always a cry for the reduction of taxation. Even this year,
but three or four days before the financial statement was
made, a motion was carried in the House of Commons, and had
beet supported by right bon. and bon. gentlemen who sat on
the opposition benches, for the reduction of a large amount of
taxation. How, then, was the government to obtain a
surplus! Only by the imposition of fresh taxation.
Lord OVEMSTONE said he meat express his conviction
that the financial conduct of the government with respect
SO the affairs of the country during the last two years had
ant been either satiafactory or safe, and that the financial
position in which it was placed in consequence was far
from being what it ought to be. The noble
duke had charged the noble earl opposite, on
very insufficient grounds, with having introduced
Creconsiderations into the question, and also with
viicagaLade a personal attack upon a distinguished member
of the other house. Without admitting the injustice of the
cementite, he would say that there was no public nun in
this country who was len obnoxious to public censure than
Mr. Gladstone. (Hear, hear.) They were told there
was a surplus, but what kind of surplus was it! He
wished to have a surplus that would make those who
understood public finance feel a strong confidence of a
future excess of revenue over expenditure. (Hear, beer.)
To propene additional taxation would apparently have been
a pitiful course to the Chancellor of the Exchequer, but
stall he (Lord Overdone) wished to ask whether the wealth
of the country was exhausted—whether the elasticity of the
national resources was worn out—whether the public spirit
of the government bad ebbed away, and whether the public
lad refused cheerfully to make whatever sacrifices might be
neetelery for the misty and honour of the country. Why