The Express.
London, England, 1851-01-30 00:00:00

THE RATIONALE OF FINANCE.

Mr. J. Macgregor, M.P., has addressed a long
letter to the electors and non-electors of the city of
Glasgow, on the taxation and expenditure of the
country, and from which we make the following
extracts :

Having referred at some length to the increase of
the national debt consequent on war expenses, the
hon. gentleman says:
Having made these preliminary remarks, let us look
at the consequences. After the efforts a all Europe
to extinguish the Bonaparte., and all our bloodshed
in Spain, the heir of Napoleon is this day the supreme
ruler over France by nearly the universal choice of
the French people. Louis Philippe, before his over-
throw, concluded • second family compact with Spain,
from which a British ambassador was insolently ex-
pelled. Bat we, the people of the United Kingdom,
are of all nations the must grievously, and, unfortu-
nately, without. the remedy or honourable extrication,
oppressed by the calamity entailed upon the whole
people, in coneequence of our belligerent glories.
We have now, and for ages will have, or else
submit to national disgrace, to deal with and to
provide for the enormous and evil brquest of a debt
of 800 millions, by an extra manual taxation,
exclusive of the cost of collection, of about 281
millions sterling. With this oppressive burden
and the general naval, military, and civil expenditure,
we have to legislate, in • Hume of Commons, which
a far from representing those who pay N millions
annually of taxes, exclusive of local taxation, out of
the products of skill and labour. I will not at pre-
sent enter upon a great question, which I consider
a necessary reality, that must inevitably be carried,
before long, in an age of steam-ship., railways, and
a steam press--I mean a fairly reformed Home of
Commons.

Now, with regard to the taxation of the country,
the Chancellor of the Exchequer will pr.,b►bly show a
surplus of from two to two and a half millions. Each
interest wishes to apply it to the relief of its parti-
cular grievance tax. The window tax is probably to
be abolished ; that will take, including the 10 per
cent. additional, about 1,800,0001., which will leave
from 200,0001. to 700,0001. to be spread over a reduc-
tion of taxes on knowledge, stamps, paper, hope, malt,
and other obnoxious taxes.

All the claims and clamsiurs, therefore, for abolish•
ing any of those taxes are all absurd. without a
thorough reform of our expenditure. I gave my
views explicitly on that expenditure u well as the
taxation, in my letter addr. seed to you on financial
reform, two years ago. I stated theta views before
the import ditties committee in 1840; and I believe
the reforms still neoessary are practical; for more than
half of what I then proposed was afterwards carried
into effect by that great and magnanimous statesman
Sir Robert Peel. I am of opinion that not only the
window, bat all 'messed taxes, the hop duty, and all
the excise taxes, excepting spirit and malt (the latter
also aa soon as practicable), and all taxes on know-
ledge should be abolished. But, as I have a holy re-
verence for our national credit, and the maintenance
of tranquillity and order in our houses, streets, high-
ways, and fields, and peace with all the world, I must
pause before 1 aid in abolishing any tax whmover at
the expense of that honour, security, and peace.
Therefore I will at once proceed to review the pub-
lic expenditure. It stood thus for the year ending
sth January, 1850 :
Charges of collection . ............. £4,0/0,728
Other payments deducted is the progress of
masa to the Sztheqa 636.310
Total deductions
interest of debt

Civil M, ipalaries, law, &a. 4794,882

Miamians's' alia;vg.a, a4:l 3,911,231
Amy £6,649,100
Navy
Ordains.

Total expnclitare £45,480,786
Now I believe it is practlc.ble and safe to reduce
the above expenditure as follows, viz.:

Tao army from £6 549,109 to £5,000,000
Navy „ 6,942,398 „ 5.000,000
Ordasaes

£15,823,538 t0£11,760,000
Interest of debt 28,323,951 „ 28,e00,000
Civil hot
Miscellaneous cholges on

the annual parliament 3,911,231 „ 3,250,000
Grants, annuities, salaries,
pensions
Charges of collecting the
4,0/0,728 „ 3,350,000
Other payments deducted 608,310 „ 600,000