The Express.
London, England, 1853-01-08 00:00:00

THE EXPRESS, SATURDAY EVEKNO, JANUARY 8, )853.

PARIS, THVISDAT EVENING.
The journal de Foie era yesterday sentenced to
' pay a fine of I,ooof. for the publication of false news,
in Willa stated that the offerings del:Gifted at the
"Chapelle Ekpiatoire" of Louis XVL had been taken
away, and that those brought on All Saints Day had
bets refine& Thi Abbe Berle:, the chaplain, de-
poised'that Both these statements were untrue. The
sentence would have been more severe, but that it
was proved that the -paragraph publiehed- by the
was journal furnished by a correspondent who gave
his name and address, and therefore the tribunal of
Correctional Police admitted that the publication was
not made with bad faith.
An imperial decree, dated yesterday , nominates
the following members of the Imperial Council of
Public Instruction for 1853 111. Elie de Beau-
mont., M. Poinsot, and M. Delengle, members
of the Senate; M. Baroohe, president of the Coun-
cil of State • M. Bonjean, president of the sec-
tion of the Interior, Public Instruction, and
Worship, in the Council of State; M. Denjoy,
Councillor of State; the Cardinal Archbishop
of Rheims, the Archbishop of Paris, the Archbishop
of Tours, the Bishop of Arms, the Bishop of Troyes,
the Rev. R. envier, president of the e..onsistorial
Church of the Confession of Augsburg; the Rev
Juillerat, president of the Consistorial Church of the
Reformed Communion ; M. Franck, vice-president of
the Central Israelite Consistory; M. Troplong, first
president of the Court of Cessation; Count Portalis,
honorary. first president of the same court; M.
Rocher, Judge of the same court; Baron Thenard,
M. Saint Marc Girardin, M. de Saulcy, General
Morin, and M. Lelut, members of the Institute; M.
Oiraud, M. Ravaisson, M. Nisard, M. Dumas, M.
Leverrier, M. Brongniart, and M. Laferriere, inspec-
tors-geneal of superior instruction ; M. Dutrey, in-
spector-general of secondary instruction ; M. La-
brouste, chief of the school of Sainte Barbe at Paris:
and the Abbe Labbe, chief of a school at Yvetot,
department of the Seine-Inferieure.

ne Court.

WINDSOR, Jipr. 7.
• The Queen gave this evening at the Castle the
first of ,a series of dramatic representations, commencing
with Shakespeare's historical play of " King Henry the
Fourth (Part II.)"
Her Majesty and Prince Albert, with the four elder of
the royal children, accompanied by the Duchess of Kent,
the Duchess of Camtiri•lge, and the Princess Mary of Cam-
bridge, the Prince of Lunn:igen, and the Princess Adelaide
of Huhenlohe, Monsieur and Madame Van de Weyer. Count
and Countess Colloredo, the Earl of Aberdeen, the Earl of
Clarendon, Lord and Lady John Russell, Viscount and
Viscountess Harding°, the Lady in Waiting to the Duchess
of Kent, the Lady in Waiting to the Duchess of Cambridge,
Baroness de Booth, Viscount and Viscoautesa Mahon,
Major-General Sir George Bowles, and Baron Knesebeck,
eatenrd the temporary theatre about 8 o'clock, attended by
the Ladies and Gentlemen in Waiting to her Majesty and
His Royal Highness ; the above illustrious circle having
previously had the honour of dining with the Queen.
The Queen and Prince Albert being seated, and their
royal and distinguished guests having also taken scats, the
performance commenced as follows with Shakespeare's
historical play of

KING HENRY THE FOURTH.
Part Second.)
King Henry IV.
Henry Prince of Wales
Thew as Duke of Clarence
of Lancaster

Prince John . _
--
Prince Humphrey of Gloster Miss J. Lovell.
Earl of Westmoreland Mr. F. Vining.
Lord Chief Justice
Snoop, Archbishop of York Mr. Diddear.
Lord Mowbray Mr. H. Mellon.
Lord Hastings
Sir John Falstaff Mr. Bartley.
Point ie.. Mr. H. Marston.
Pistol
Bardolph
Robin
Justice Shallow Mr. Meadows.
Justice Silence
Gower Mr. Graham.
Davy
Mouldy
Shadow
Wart
Feeble Mr. S. Cowell.
Bull Calf Mr. R. Romer.
Fang
Snare
The King's Pages Mr. Brazier, &c.
Apparitor
Dame Quickly
Director Mr. Charles Kean.
Assistant Director
The Theatre arranged and the Scenery painted by Mr.
Thomas Grieve.
Iter Majesty's Private Band attended in an anti-room
daring the performance.
A select party were present in the evening to witness the
Royal entertainment. The following had the honour of
receiving invitations:—Prince Edward of Saxe Weimar and
the Countess of Dornburit, the Countess of Mansfield and
two Ladies Murray, Lady Emily Seymour, Lady Caroline
and Miss Barrington, the Right Hon Henry and Lady
Mary Labouchere, Colonel the Hon. Charles and Mrs.
Grey and the two Misses Bulteel, Captain the Hon. Mor-
timer and Mrs. Sackville West and Miss Dallas, the Hon.
and Rev. Edward Moore, Mrs. and Miss Moore, the Rev.
Dr. Hawtrey, the Rev. Mr. and Mrs. Canning ; Colonel
McDouall, commanding officer of the 2nd Life Guards and
Lieutenants Hogge, and the Hon. C. Lyon ; Colonel T.
Wood, commanding officer 3rd Battalion Grenadier Guards,
Lieut.. Colonel Con, and Captain Higginson ; Miss Knollys,
Mr. Algernon Greville, Miss Georgians and Miss Augusta
Cheadle, Mr., Mrs., and Miss Cos, and Mr. Henry and
Mr. Frederick Con.
Refreshments were served to Her Majesty's guests in the
coarse of the evening.
Yesterday the royal dinner party. consisted of the
Duchess of Cambridge and the Princess Mary, the
Prince of Leiningen, the Belgian Minister and Madame
Van de Weyer. the Austrian Minister and the Countess
Colloredo, the Earls of Aberdeen and Clarendon, Lord and
Lady John Russell, Viscounts Hardinge and Mahon,
Viscountesses Harding. and Mahon, the Lady in Waiting
to the Duchess of Cambridge, Major-General Sir George
Bowles, and Baron Knesebeek.
The Band of the god Life Guards attended during
Dinner, and played the following pieces:
Overture, Sicilian Brine Balk.
Welts. "hiSalema"
Rurtan Air. Duet, Oboe and Trombone, Messrs
Grattan, Cooke, and E. Timing.
Grand selection. "I Lombardi" Verdi.
Quadrille .The Owen of May" Jullien.
Onus, "Charlottes" Labituy.
God Save the Queen.
Her Majesty's Private band afterwards atte,ad ad in the
evening, and performed the following selectione :-.
oserture,..roottspiZe. '..t-idpaintnee.
Selection, .Le P
March," Ruins et Mbar —.
Ballet Mune, "idle

A deputation, consisting of Mr. J. V /asuman, M.P.
Mr. Weguelin,' Mr. Auderdon, Mr. Per .lam Mr. Mr. W. Glad-
stone, Mr. Baker, and Mr. Koch, had ar , inieriiew with the
Duke of Newcastle yesterday at the Co' tonial (mike,
The Right Hon. Sir Chas. Wood, Pr
ceident of the Board
of Control for the Affairs of India, tr onsacted business yes-
terday, for the first time, at the Boa ed of Control.
Dr. Stanger bad an interview, ye
of Newcastle. . . _ -
sterday, with the Duke

Despatches were sent off last ,
Office to the Governors of the Ns
~:vening from the Colonial
rth American Colonies.

(FLOM LAST NIP ,T., °inns.)
WINDSOR, JAN. 4.—Hr e Majesty in Council was
this day pleased to appoint t he Right Hon. the Lord Pre-
sident of the Council for itle
e time being ; the Most Noble
the Duke of Argyll, Lord
steeper of the Privy Seal ; the
Most Hon. the Marquis of Lansdowne ; the Right Hon. the
Earl of Aberdeen, Ft
Majesty's Treasury ; the ret Lord Commissioner of her
Right Hon. John Russell (com-
monly called Lord Jobe Russell), and the Right Hon. Vis-
mint Pahnint", two of her Majesty's Principal Secretaries
of State ; the Right Hon. Sidney -Herbert, her Majesty's
Secretary-at-War; •
Gladstone, Chancel'
.and the Right Hon. William wartE
or and Under Treasurer of her Majesty's
B:chequer, to "`', a Committee of Council to superintend
the application of any sums voted by Parliament for the
PurPa" of prom oting public education.
TRIASORT
CHAMBERS, WHITEHALL, JAN. o.
The Queen Quer!, hr ,a been pleased to direct letters patent to be
ands the Great Seal, appointing the Right Hon.
°uris.'" "'" Viscount Canninglo be Postmaster-General.
....IA,EAST Jay CHAMBERS, WHITEHALL, J. 5.
As has been pleased to appoint the Right Hon. Sir
WrWae Molesworth, But., to be First Commissioner of
Works and Public Buildings.
Ts* SAMMY CHAMBERS, WHITEHALL, JAN. 5.
Ti! Queen bas been pleased to appoint the Right Hon.
P" .card John, Lord Stanley of Alderley, to be her Majesty's
ymaster-Generat.
WINDSOR CASTLE, JAN. B.—His Royal Highness
Prince Albert has been *ailed to appoint the Right Hon.
George Byng, Viscount Torrington, to be a Lord-in-Wait-
, Is( to bis royal highness, vice Lord Mandeville,reeigned.
ST. JAMES'S-PALACE, JAN. B.—The Queen has
begs pleased, en the nomination of the Right Hoe. Lord
Foley, to appoint Samuel Hobson, Erg., late Captain of
ter Majoty's 10th Regiment of Foot, one of her Majesty's
Honourable Corps of Gentlemen-at-Arms, vice Roach,

CROWN-OPTICS—MEMBERS RETURNED TO SERVE
ne THIS PitININT PARLIAHINT.—JAN. 5. City sf Oxford:
The Right Hon. Edward Cardwell, in the room of Sir
William Page Wood. Knt.. Vice-Chancellor.—Borough of
Southwark : Sir William Molesworth, of Pencarrow, in
the county of Cornwall, and of Eaton-place, Belgrave-
square, in the county of Middlesex, Bart., Chief Com-
missioner of Works. Borough of Brighton : Alfred
Hervey, Eaq., commonly called Lord Alfred Hervey, one
of the Lords Commissioners of the Treasury.—Bor.ugh of
Morpeth : The Right Hon. Sir George Grey, Bart., of
Fallodea, Northumberland, in the room of the Hon.
Edward George Granville Howard, who has accepted the
office of Steward of her Majesty's Manor of Northstead.—
Jan. 6. District of Burghs of Leith, Portobello, and Mut-
selburgh James Moncreiff, Esq., her Majesty's Advocate
for Scotland.—Borough of Wolverhampton : Charles Pel-
ham Villiers, Esq., commonly coiled the Hon. Charles
Pelham Villiers, Judge Advocate General.—City of Lich-
field : Alfred Henry Paget, commonly called Lord Alfred
Healy Paget, Chief Equerry and Clerk Marshall to her
Majesty.—Jan. 7. Borough of Aylesbury : Richard Bethell,
Esq., her Majesty's Solieitor•Cieneesi.—City of Gloucester:
The Hon. Maurice Frederick Fitthardinge Berkeley, Rear
Admiral in her Majesty's Navy, one of the Lords Commis-
sioners for executing the Office of Lord High Admiral of
Great Britaia and Ireland.

WAR-OFFICE, JAN. 7.
Ist Regiment of Dragoon Guards.—Lieutenant William
Peareth to be captain, by purchase, vice Carew, who
retires; Cornet Jererniih Hancocke to be lieutenant, by
Purchase, •ice Peareth ; Ensign Arthur James Phillips
Wadman, from the 39th Foot, to be cornet, by purchase,
vice Hancocke.
12th Light Dragoons.—Lieutenant George Charles Selwyn
Durant to be captain, by purchase, vice Fox, whn retires.
Ist Regiment of Foot.—Lieutenant Henry Phillippe Vil-
liers Villiers, from tho 81st Foot, to be lieutenant, vice
Bristowe, who exchanges.
3rd Foot. —Assistant-Surgeon David Stewart, from the 41st
Foot, to be surgeon, vice Butt, removed to the 14th Foot.
1411 i Foot, Surgeon Edgar Dumaresq Batt, from the 3rd
Foot, to be surgeon, vice William Wallace, M.D., who
retires upon half-pay.
30th Foot. —Lieutenant Graham Le Fevre Dickson to be
captain, by purchase, vice Edwardes, who retires; En-
sign Edward Newstead Falkner to be lieutenant, by pur-
chase, vice Dickson.
36th Foot—Lieutenant John Itotton to be captain, by pur-
chase, vice Anoine Sloet Butler, who retires.
41st Foot.—Acting Assistant-Surgeon James Linton t,M.D.,
to he assistant-surgeon, vice Stewart, promoted in the

3rd Foot.
48th Foot.—Captain George MoNehr.iy Lys to 1).? major,
without purchase, vice Brevet Lieutenant-Colonel Ward,
deceased; Lieutenant James ?dancer to be captain, with-
out purchase, vice Lys; Ensign John liediugtidd to be
lieutenant, without purchase, vice !dancer.
60th Foot.—Ensign Edward Crawfurd Antr Aim., from the

,1

Property
to enablee.e_e
84th Foot, to biteamfga, vies Foster, promoted in the REFORM OF THE INCOME AND PROPERTY
'loth Foot. X
ith Foot.— Assistants/Surgeon Ethelbert Henry Blake,
T
. M.D., from the Staff, to be surgeon, vice M'Ciregor, The Daily News publishesA the following :
'
who resigns.
10th Foot.—Captain Thomas Powys, from hal/pay Unit- BlR,—Although a complete revision of the taxa.
tubed to be caetain (repaying the difference), vice ttitoon ()f this country
eeete and
will be re
who liament to make it feu and just to all persons, tiicaii
Beagles Jones, who exchanges; First Lieutenant James
Fraser to be captain, by purchase, vice Powys, nof the le
h ttex must
m liar.
retires; Second Lieutenant Henry James Robertson, to the House of
i
be lieutenant, by purchase, vice Fraser. immediately before • Commons; and
80th Foot.—Captain Lambert Lyons Montgomery, to be therefore every means should be adopted to en.
major, without purchase, vice Sayers, deceased; Lieute- lighten the public mind on that important question.
cant Thomas Welsh, to be captain, without pin- The present mode of levying the Income and Pr
chase, vice Montgomery ;Ensign Edwin Fletcher Foster,
perty Tax—being admitted b all vat be °.
from the 50th Foot, to be lieutenant, without purchase,y 1) sto unjust,
vice Welsh. —it behoves the egislature to correct, Se far
as pee.
81st Foot.—Lieutenant Stephenson Simms Bristow., from Bible, that injustice.
the let Foot, to be lieutenant, vice Villiers Villiers, who There is a confusion in many men's mind, about
exchanges. Income and Property, as if a tax levied on either
Ist West India Regiment.—Captain Gordon Skelly Tidy, had the same bearing on the payer.—And 1
from half-pay Unattached, to be captain, vice George therefore
Waller Meeham, who exchanges; Lieutenant Henry blication of the accompanying letter to
Ratcliffe Searle, to be captain, by purchase, vice Tidy, me on that aubject,—which must soon become the
who retires. chief subject for the consideration of the nation.
Royal Canadian Rifle Regiment—Lieuter ant William Henry I remain, yours sincerely,
Dodgin Kinagmill, to be captain, without purchase, vice
Bt Major William Atkin, who retires upon full-pay; JOSEPH HUME.
Ensign Walter James Brittain, to be lieutenant without II Burnley-hall, Jan. 7, 1853.
purchase, vice Kingsmill.
Hose nos. STMT.—Acting Assistant-Surgeon Thomas Knox
Biraie, to be assistant-surgeon to the forces, vice Blake,
pr emoted in the 65th Foot.
Basysr.—Captain Thomas Powys, of the 60th Foot, to be
major in the army ; Brevet Major Thomas Powys, of the
60th Foot, to be lieutenant colonel in the army.
MZWOZANDUK.—The Christian names of Captain Meeham,
of the Ist West India Regiment, are George " Waller,"
and cot " Walter," as stated in the Gazette of the 24th
ultimo.
ADMIRALTY, DEC. 27, 18.52.
(hops of Royal Marines.—Second Lieutenant Jahn Michael
I de Courcy Meade to he first lieutenant, vice Bastsble ;
Gentleman Cadet Geoffrey Mairis to be second lieutenant ;
Gentleman Cadet Charles Sidney Williams to be second
lieutenant; Gentleman Cadet Charles Bullen Hugh
Mitchell to be second lieutenant; Gentleman Cadet John
Maitland Lennox to be second lieutenant; Gentleman
Cadet Thomas Bent to be second lieutenant ; Gentleman
Cadet John William Henry Chafyn Grove Morris to be
second lieutenant; GenCeman Cadet Francis Edward
Halliday to be second lieutenant; Gentleman Cadet
Frederick Ley to be second lieutenant ; Gentleman Cadet
John Frederick Sanders to be second lieutenant; Gentle-
man Cadet James Pulteney Murray to be second lieute-
nant.

THE MILITIA.
(PROM LAST NIGHT'S GAIrITIA

The following commissions have been signed :
Cornet William Alcock, to be lieutenant, ♦ice Cteyke,
promoted, and George Allsoson Cayley, gent., to be cornet,
vice Alcock, promoted, in the Yorkahare Hussar Regiment
of West Riding Yeomanry Cavalry.
The Hon. Edward Gambier Monekton to be :lieut.-
colonel, vice Sir John Henry Lowther, Bart., resigned, in
the let Regiment of West Riding Militia.

NEW DEPUTY LIEUTENANT.

John Stokes, Esq.

PE11111101(11.

THE ELECTIONS.

OXFORD UNIVERSITY._

OXFORD, FIIIDLY.
Mr. Oladstone's Mends spiritedly come to the poll to-
day, and had at bell-past eleven o'clock the pleasure of
seeing him at the head of the poll. This advantage was
gradually increased throughout the day, and at the close,
the state of the Pod showed the right bon. gentleman to be
66 in advance of Iris opponent upon the gross poll, and 76
upon the day's poll.
likLP•PAST TEN O'CLOCK.
Gladstone 319
removal

ativzx o'cLum.

Gladstone 337
removal
ALLY-PAST ILITEN o'cLocs..
Gladstone 3132
Perveval

Majority for Gladstone
TWOLVI O'CLOCK.

Gladstone __
372
Pereeval

Majority for Gladstone 9
BALD-PAST TWELTI O'CLOCK.
Gladstone 390
Perceval

Majority for Gladstone lB
QUART'S PAST ONI O'CLOCK.
Gladstone 4Ol
Pereetral

Majority for Gladstone 25
Poll adjourned until two o'clock.
HALT-PAST TWO O'CLOCK.
Gladstone 4n
Perosval

'Majority for Gladstone 36
THREE O'CLOCK.

TO JOSEPH HOME,
Slll,—The tax which is officially designated as the
" income and property tax" has received a double
title which is illusory and inconsistent. The princi-
ple of a tax proportional to income is opposed to the
principle of a tax proportional to property, and it is
not easy to imagine how the two incongruous pried-
plea can be combined so as to constitute one uniform
tax. In the present case, however, no attempt has
been made (except in name) at such combination;
the word "property" having been improperly intro-
duced into the title of the act, and the existing tax
being levied on and made proportional to income
alone, without regard to the value of the property
whence the income is derived. On the justice
of the present tax opinions and interests are
greatly divided, but the question in dispute resolves
itself into this—whether the tax which is nuw im-

-- ---.
Gladstone . •443
Pereeval

Minority for Gladstone 49
HALF FAST FOUR O'CLOCK.
G4dlltoße 462

Pereeval

Majority for Gladstone 5l
PITS O'CLOCI.
Close of fourth day's poll.
Gladstone 468
..-

Perseval

properly called the " income and property tax,"
ought to be levied on income alone, or on property
alone? All those who complain of the injustice of
the tax propose_ as a remedy the institution of a pure
" property tax."
There is probably no principle of taxation of such
universal application as this—that every man ought
to contribute to the wants of the state iu proportion
to the value of his property, or that the sum paid for
protection ought to be proportional to the value of
the article protected. The truth of this main prin-
ciple of taxation is so obvious to every understanding,
that it has never been impugned.
It being established that taxation ought to be
proportional to property, the principle would be
capable of extension to income if all awes of
property yielded the same rate of income, for in that
ease, if the rate of tax levied on income were fixed,
the rate of tax on prop( rty would also be fixed. But
since property, according as it is invested in land,
houses, or trade, yields very different rates of income,
a fixed rate of tax on income would represent vari-
able rates of tax on property. For example, if, as is
near the truth, capital in land yields 3 per cent. in-
come, capital in houses 6 per cent. income, and capi-
tal in trade 12 per cent. income (being the propor-
tions of I, 2, and 4), a fixed rate of tax on all income
without regard to its source would represent variable
rates of tax on capital, in land, houses, and trade, in
the proportion of the numbers 1,2, and 4 respec-
tively. That is to say, the effect of a general tax
proportional to income is to make the owner of
trading capital pay four times as much as he would
have to pay on the same amount of capital inve ted
in land.
If it were detrimental to adopt the principle of a

- -
property tax in lieu of the existing income tax, little
or no additional trouble in asseasing and collecting
the tax would he occasioned by the change, for the
tax might still be regulated by the income, after
making allowance in each of the three classes of pro-
=for the relation which property or capital
to income in that class. For example, since
income secured on land or the funds is worth twice
as many years' purchase, or represents twice as much
capital, as an equal income secured on houses, the
rate of tax on the former income must be double the
rate of tax on the latter income, in order that the
rate of tax on capital in both cases may be the same.
Similarly, the rate of tax on income from houses must
be double the rate of tax on income from trading u-
plift'. If the tax on income from land or funds were
fixed at one shilling in the pound, the corresponding
tax on income from houses would be 6d. in the
pound, and the tax on trading income would be 3d.
in the pound—the rate of tax on a given amount
of property or capital being the same in the three
cases.
The upholders of the existing inequitable income
tax trust chiefly for defence to the fallacious
statement that incomes, from whatever source de-
rived, are all alike, and consist entirely of profits.
They do not take notice of the fact, that all incomes,
except those arising from land or the government
funds, contain a large proportion of capital returned,
or reserved, or subject to risk more or less. On re-
flection, it will be easily seen, that on an average fora
period of years, all classes of capital must yield the
same rate of profit, although they yield very different
rates of income. For if any class of capital were
found to yield a greater rate of absolute or secure
profit than was yielded by other classes of capital,
there would be immediately established a current of
capital towards the favoured class, which current
would continue until the rate of profit was uniform
throughout all classes. It is only when the capital
is insecure that the nominal rate of profit or income
exceeds the absolute ordinary rate of profit or in-
terest yielded by well secured capitaL Profit is se-
condary to the security of capital ; profit does not
commence until provision is made for the security
of the capital whence it is derived. If the
rate of income from any class of property exceeds
the rate of profit derived from permanent or per-
fectly secured property, it may be assumed with cer-
tainty that such class of property is insecure, and
that the measure of its insecurity is the excess of this
rate of income over the ordinary rate of interest on
well-secured capital. This excess is capital returned
or reserved, or for the risk, which must be deducted
from income before profit eau be atrived at.
If the rent from houses be six per cent. on the ca-
pital or selling price, whilst the rent from land is
three per cent., the rate of profit is not greater in
one case than in the other, although the rates of in-
come are as two to one. The excess of three per
cent. from house property is for capital returned, and
capital reserved, and for risk (probably in equal pro-
portions, say 1 per cent. each). The portion of the
income representing returned capital forms the fund
whence the buildings are kept in repair and rebuilt
when worn out, and also for the risk of rents not
being paid, &c. The portion of income representing
reserved capital forms an assurance fund, to provide
against losses from depreciation, defective manage-
ment, and want of tenants.
Property embarked in trade must yield an annual
income of 12 per cent. in order to be equally remune-
rative with property in land yielding an income
(which is all profit) of 3 per cent, per annum. The
difference, being 9 per cent., is the market rate of as-
surance of capital embarked in trade. The excess of
9 per cent. received by the trader is the index and
measure of the insecurity of his capital. The trader
will withdraw his capital if he fails to receive the
market rate of insurance of his capital, in addition
to the market rate of interest on secured capital. As
there are no assurance companies which will guaran-
tee his capital against the casualties of trade, he is
obliged to keep in his own hands the capital so con-
tained in his income, and reserve it to meet the risk
of losses in future years.
The degree of risk to which capital embarked in
trade is exposed, does not differ materially from the
degree of risk to which capital is exposed when em-
barked in ships. A merchant who risks his capita
on the sea is allowed to deduct from his gross profits
the sums paid for marine insurance. The same mer-
chant ought equally to be allowed to deduct from his
gross profits the annual premium requisite to inure
his capital against other risks of trade which, in the
aggregate, are equal to the risks of capital embarked
at sea.
It will be interesting to compare the effect of an
income tax with that of a property tax on the three
classes of capitalists into which the British popula-
tion is divided. For the purpose of comparison, it
may be assumed, that professional men belong to the
class of trading capitalists (their capital being repre-
sented by expenses incurred in education and profes-
sional
training), and that their incomes are on an
equality with traders incomes, and worth as many
years purchase. Let it also be assumed as before,

Majority for Gladstone 66
Amongst the supporters of Mr. Gladstone to-day were—
The Ven. B. Harrison, M.A., Ch. Ch., Archdeacon of
Maidstone; Archdeacon Wilberforce, Hon. C. Wrottesley,
J. R. Kenyon, D.C.L., Mr. G. E. H. Vernon, 24. P.,
Archdeacon Grant, Archdeacon Bartholomew, Mr. M.
Topper, Archdeacon Omerod, Rey. W. H. Ridley, Rev.
N. T. Billion, Rev. 0. Gordon, Rev. Canon Wood, Mr. H.
Oldfield, Mr. C. Ross, Rev. F. Temple, Archdeacon Sand-
ford, Rev. R. Scott.
Amongst the supporters of Mr. Perceval were—J. J
Goodenough, D.D., H. Legp, D.C.L., Mr. C. G. Round,
Hon. Loyd Kenyon, R. Jackson, D.M., Viscount Crawley,
Dr. Faussett, Rev. A. Bradley.

SOUTHAMPTON.
THE DECLARATION.

The declaration of the poll took place yesterday at
12 o'clock at th 3 Town-hall. After casting up the poll-
books the following were found to be the correct numbers :
Sir Alexander Cockburn l,lOO

Hr. Heinle Cochrane
and the Mayor, Joseph Lankester, En., pronounced Sir
Alexander Cockburn duly cleated. Neither Mr. Cochrane
nor anyl of his friends were present at the declaration of
the
On the election of Sir Alexander that gentleman arose
and addressed the electors, thanking them for the distin-
guished honour they had conferred on him in electing him
to parliament by such an overwhelming majority. Sir
Alexander also stated that even if it wet° possible that he
could be unseated on the petition now pending against
him, he was certain that the House of Commons would
never suffer Mr. Bailie Cochrane to succeed him, on ac-
count of the comparatively small number of voters who
polled for that gentleman.
Mr. Cochrane has issued ea address, congratulating him-
self and his friends on the large number of votes he
ob-
tained without any effort on his part.

DUMFRIES, JAN. 5.

Sir William Jardine issued an address 'this morn-
ing, in which he says he does not intend to oppose Lord
Aberdeen, and then proceeds to attack hie ministry on re-
ligious grounds.
Lord Drumlanrig spoke to a large public meeting this
afternoon, and cut up his opponent's address with consider-
able effect. Sir William also addressed a meeting to-day,
at which a number of influential gentlemen were present.
It transpired at this meeting that Mr. Hope Johnstone,
who retired from the representation of the county in 1847,
had been asked to stand on the present occasion, but de-
clined on the ground of his friendship for Lord Aberdeen.
It was also stated that the Duke of Buccleuch, when con-
sulted, bad stated his intention of supporting Lord Aber-
deen's government. Both parties are now actively en-
gagekand a keen canvass is going on, but the return of
ann I Lord Druml gis regarded as tolerably certain.

FEARFUL COLLIERY EXPLOSION.—Loss OF FOUR
Lir/Ea.—Early on Monday morning a fearful explosion
took place at the Leasing Thorn Colliery, in the neighbour-
hood of Bishop Auckland, the property of Nicholas Wood,
E.g., and partner, by which three men and • boy have
loot their lives. From the particulars that have been
gathered it would appear that the men were sent into the
pit on Sunday night, or early on Monday morning, to make
it ready for work, and were ordered to take a lamp, instead
of which it is said they took a candle, which was the cause
of the explosion. lied it taken place at a later hour in the
morning, when the men had all got into the workings, the
loss of life would have been fearful. Oa Wednesday morn-
ing another man loot his life at the Black Boy, the adjoin-
ing colliery, by the fall of a stone. On Wednesday an inquiry
i was opened by the coroner for South Durham into the cause
' of the deaths in Leasing Thorn Colliery. Ample time will be
given to the government inopt ctur, M itthi.is Dunn, Esq., to
survey the pit.
TUE QUEEN V. Du. NEWMAN.—The rule for a
new trial in this cikhrated cause will he argued in the en-
suing term. It quids the last but ...tie in the list of new
trials—No. 20 in the cause paper. It is understood that
the expenses attendant the proceedings of this affair will
amount to about 10,0001. The present Attorney-General is
for Dr. Newman.

thst equal incomes from laud, houses, and trade are,
,bra aipitalised, of the proportional values of 4, 2.
old 1, respecti%ely. If land be worth 30 years pur-
ths,-e, housi-i will be worth 15 years purchase, and
todiug capital 7; years purchase.
Tas total annual income jnow chargeable to the
thcoine tae is about 200,000.0001., of which land and
the fund. vield about 82,000,0001. houses, &c., yield
3.;..4,0,1510/. ; and trades and professions (in-
cluding tamers and government officials), yield about
62,000,ti0i1t. Under the present income tax of 7d.
Is the pound, the owners of first-class property
(iu 'land And funds), and the owners of third-class
On trades and professions. cotribute equal
r- sis to the state—about 2 j min millions each.
•
‘l1: the tax were proportional to property, in-
stead of income, the class of traders and professional
men woidil contribute one-fourth part only of the
srii,unt contributed by the class of fund and land
hello. At present, under the Income Tax, the
boor iroperty pays about one-half as much as is
sod by the property in land and government funds.
tehr a property tax, the house owners would pay
ise-fourth part only of the amount of tax payable
the cloos of fund and land owners.
The incidence of an Income Tax, as compared with
that of a rroperty Tax, may be best viewed by
liking the per tentage of the total tax contributed
by each of the three taxable classes of the British
upalation. Under thelncome Tax as now existing,
at;t4hiss property (land and funds) pays 41 per cent.,
second-0 as property (houses) pays 18 per cent., and
third doss property (trades and professions) pays 41
per cent. ot the total tax. If the tax were changed
to a tax pmportional to property, first class property
would pay lis per cent., second class property would
say 15 1,.-F cent., and third chaos property would pay
17 per cent. of the total tax. It thus appears that
by the sulkititution of a property tax, the owners at
house property would have their taxation reduced is
the prporiiou of 18 to 15, whilst the class of traders
and proti,Aionil men would have their taxation re-
ducat in 'he proportion of 41 to 17. That is to say,
the change would relieve house owners from one-
sixth part, and traders and professional men from
more than out-half of the weight of taxation to
which they are subject under the present income tax.
JULIUS.

THE COLLISION ON THE LONDON AND
NORTH WESTRRN RAILWAY.

THE INQUEST.
This inquiry was proceeding on Thursday night
when our report was dispatched. After that the examina-
beof the 'rimers Frederick Jackson was proceeded with,
nothing Wither ofd o
was elicited front him.
The met witness was
&MIMI Tivlin, porter at the Oxford Station, who stated
that he iris on duty on Monday afternoon, at half-past 5.
He saw the 30 train getting ready. He assisted in put-
ting the leggage in the I.4gage- van. The guard was on
the pfttf.riu. Joseph Kineh was the guard. He wee
either on the platform or in the brake. Kinch was quite
Mier. The train's starting was delayed, waiting for the
*I train. Ile heard Mr. Hayes speak to Kinch, and tel.
lies am to start the train till the coal train came in. That
was jest about the time the train should have started.
je did not hear Hayes say, if the coal train I
OM in sigh', he might v. Mr. Blott gave
M caw. to layes to tell Kinch not to start before
as ead-train came at. That was before he heard Hare
te lie did not hear Kutch say anything to Hayes.
Helm leery the driver; he wee sober. He law seethierg
printer in his condition. Witness did not hear Mr. BIM
=es Kinch. He heard no order given for the train' fie
Ile did not hear Kinch tell the driver to the
en, se see him make any motion or signal. Thee*
were other persons on the platform ; be did wet
nonce who. The other porters bad gone don
Is see if the coal-train had come in. Wiliam MC
met speak to the driver when he started. lie maw Kinch
ea the engine. It was a minute or two before the train
started. Ue did not notice Kinch get into his brake van.
Tb. whistle had just sprang. Whether Kinch got down
to his van before the train .carted be could not say. Kinch
was in his van before the train pored. Witness said
nothing to him as he passed. lie did not recollect who
lashed at the tickets that night. He did not see it done.
Began Hayes when the train was going, and he called to the
driver, to say the coal-train was not in. Hayes said,
" John, tle coal-train's not in." He could not say
whether the driver could have heard Hayes, for the steam
ad blowing. He did not hear Hayes speak to the guard
lithe point to Hayes. Witness knew the coal train was
is is tun, because lie stood looking oat. He had seen the
maim of the ballast train come in. It was at the bottom of
the rd. He guessed it was the ballast engine, but he
pat tell by the beat of it whether it was borthened or not.
He did not recollect seeing Suggest Gwynn ou the *t-
hus. He could not say to a few minutes bow long it was
after be saw ttte ballast engine that Use train
Started. It may have been five or six adman
Be bad no hand signal lamp. lie did not recolleed say IMO
Irving them bat the policemen. He made no atleegt to
step the tram. He had no chasm. As soon as the wiYYs
!mai it was off. It was re rapid start. He did not speak
ki a:sag:rd.
ike him that
Htayestralut
sspoktzw%tohuetdaruivtrer.
authority,
OS it was net in his department.
lb. Hayes was here re-called and identified by the wit-
ness Frederick Jackson as the pima who looked at the
tickets
Mr. Hayes said that he did not look at them ea Mese,
son.
Joh*a Parson, porter at the Orford station, stated that
he was ea duty ea Monday afternoon, and helped es
marshal the 3.30 train. Heard ea directions given about
manias the train. Knew the seal train was dm, but not
ewe is. The 5.30 train was Eden& la emasemeene of the
eml-train nut having come is. N• w jesters ea the
*trona when the 5.30 train sieseani. H. bil hen dawn
to the first but with Mr. Hayes Musk Ea gainsama .1f the
tool train was coming.. The pongees NM It was not.
The talleet engine, with a white vla beats Minn
one in. He was at the head of the phillimma tit
he sew the ballast engine muse in. That am Was lawn
to the policeman's hut. (This witness no nun
with regard to a discrepancy in his evident ea the
of the ligkes of the bellies engine, sad }subbed laE
he saw it with a white HAL) He this Setlg that he knew
it was net the min of *s seal trim As be came beck
be. the poloomma's bed ha IsalittEllijeleabi bed slatted
an woe snag eat *of die denim. liThma be beard the
togas while, is mat as fast as yondlde with Hayes to
try is step h. Ham and wines banged as loud as they
add. Ile (Mann min " Juke no eel train is am ia."
Is En& is Meth hawedke bin The driver did not
Sena Ids speed. TM Mk cog gang eat very sharp. He
sod Hams dm basin to the road, saying the coal,
beta wee seam The gaud did am say anything that he
Mai. Be did an w big put sea the bake. If the
nit hod Ina pain, be should aot be,. beard it, as
16 steam wee oIL Ho (urnmat. Ilita ran up the
het. He had no woes Is fry ON asspa the Sand
Imanteed kiss. Re ha )son to the pollsassa to use the
▪ by Kr. lieu's dboollat, mad be did see it, but
Wastaktrale. +Si dissamoo them The driver was
e lbe Sam whoa gnaw hallooed to hiss, mad it
he MI ale low him.
ehleotdpe of tat pammodimp it was ascertained that the
out lien to be eseadeeed cow the guard Kitsch ; bat it
me Mint that is seasagonse of the Injuries he had m-
eting* wee pernabie tint some darn went Marne bete
he wit ha la a mann ea be Isought The
Jul aerosol a many desire that la mew npanArn of
Me peossugers by the train on Kinds y nun be elm-
Mined ; and on inquiry it was found that MO or two who
In been itreasbut were able to travel, lid airs ady left
Oaten. hammer, yenned seasequase of
their Mac to bear reamoal preseat. It me,
thesefore, decided that as adjournment &odd take place
IM a few days, in order that these gessethgers who should
le seasisatly reemand eland be ozonised ; as well as to
is Mather any of the OSUMI at the severely injured termi-
nal fatally or set. An admuurat consequently took
nM nos until Tuesday next, at -past 10 o'clock.