The Express.
London, England, 1858-05-04 00:00:00

(Stamped id. AdditionaL) [T WOPEN

fraiil. wham it was CD the pima ef hie right boa. Mead or
oa any other, he hepsd that she home would soma to • doe
deka es to the coarse which we to be pursued with regard
M that system, and that they would show to the emery
UM they would not pater with the grottos, or ge on item
year le year without arriving M any lined aa sari •
satieet. Hear hea Perlin on his tW hes. friend
objested to the liode In width the Clianoollor of the Bs-
ohimmr dealt with two swiss of eng M. His right
boa. Mind mid that as apresnisat hd bees entered into
to pay off two Wants sad a bait of Exchequer Bonds
in the preen% year, mad • to came a flail cessation
of the Moms tax two years Imam, and hie right hon. friend
asked why it wee propomd to drop the one and not the other.
Now be (Mr: Gladstone might be allowed to my that the
Cheaosilor of the wee sot reoponsibla for any
adios on the Exchequer that which would
amble him to Misty the holdersll73ottlem. (Hear, hear.)
Thin was no centred mitered Into for absolutely paying of
the Exchequer Bowe in 1858. During the war it was
secereery to 'apply a temporary deficiency in the receipts of
the Moons tax, and that funds for that purpose were sup-
paid by meat of Exchequer Bonds, and the means which
were to be 'employed to redeem those bond, was the
of the income tax for six months, but which the IroOseeesdo;
Commies required to be applied to the general Trull& empaa
ditura, sad net to the liquidation of the debt which had been
incurred. In bringing anew instrument of Buenos of this kind
into the market it was necessary to maks such arrangements
as would make it commonest end easy to obtain the taking up of
the beads, and that was the mama why they were made re-
deemable la 1868. But now the Chancellor of the Exchequer
was not in a position to pay off
that
bonds, for the money
which wee to begiardsbh to "ii.a.flabYartigna ( had bserrAt.
441 W,
leirtio spat the smaryilket

other 'Purposes, should have the laic person to grin;
down to the house snd and fault with the Chancellor of the
Exchequer for not applying it to the payment of the Ex-
chequer Bonds which were coming duo. (Hear, hear.)
Then with regard to the creation of the income
tax. He could not help thinking that his eight
lion. friend had overgatad the comps* and the
Elm which bad beta given with regard to the
of the Moons las. No one contended that
g parliament bad re ma ineelebnable pledge on that sub-
ject ; and any that had been glom was nermaztly
en er to Merseted with general policy
had any OW ever 'Wind IQ soy that the honse hid given •
pledge that the rooms tax should rift and Ostemaise in
1860, whether pulite policy would allow of that mane or not.
But there was a great deal of difference and a very wide dis-
tance between that state of things and the doctrine pro-
' pounded by his right hon. friend ; fur the argument of his
right hon. friend was, not that the income tax was • conve-
nient and an extraordinary source of revenue, but
that it way a convenient and accessible pert of
the ordinary revenue of the country. (Hear Dear.)
It might be so, but those were not the terms on which parlia-
ment obtained the income tax from the people of Engird.
(Hear, hear.) In 1842 when the income tax was lint Im-
posed, in 1846 when it was first renewed, and at the time of
its subsequent renewals and its extension to Ireland, in direct
language the country was salted to pay the income tax not
because it was an accessible and convenient portion of the
ordinary revenue, but because its imposition would lied to
the attainment of great ends in connexion with a general
policy. (Hear, hear.) There were two reasons for its impo-
sition and its retanon as a part of our taxation. O. was
that by its means we should be enabled to replace our
financial system in • satisfactory state; and the other area,
the necessity of the maintenance of oar national honour
in • great war. (Hear, hear.) But if you were to trans-
form the income tax from its condition of • special and ex-
ceptional tax into • part of our regular and ordinary mature
of revenue, you ought not to make that transition in dacha
—(har, beer)—and the country ought to be opal and
fairly asked whether it we prepared to acres to that a
of principle. (Hear.) The Moore tax for may years wee
imposed on the ground that by means of its ereatios war
were enabled to effect a great randrion of indirect tratics.
But what were we doing nowt (Hear.) What was the
history of the paper dtity? (Hear.) Whet was the history
of the wine duty ? What wee the history of the duty
on marine ineuranoes ? (Her, boss.) The whole proems
of the policy of mutation of taxation bad bee
asserted—(bear, haul—end without saying cos ward vita
regard to that subject, we talked of keeping up the income
tax as • portion of the regular end ordinary taxation of the
country. But it was not only that we had ceased to err
elder that we had obtained the impoeition of the income tax
only for the purpoe of our being enabled to effect great
therm in tha financial condition of the people of this
country, for we had begun to travel in the opposite dine-
lion. (Haar, hear.) Look at the duties upon tea and sugar.
(Has, hear.) Had we sot been obliged to raise those duties
Rada, and bad not his right hen. Mead (6ir G. C. Lewis)
hat year, with • laudable effort to make the revenue and
expenditere meet, added two millions to the duties
on tea and sugar ? (Hear, bear.) Lit the hoer
come to • clear and definite declaration of opinion
with regard to the winking fund, to the payment of the
Exchequer Bonds, and the manner in which the rooms tax
was to be dealt with ? If the income tax wee • good tax,
by all means let it be paid ; and he most my that he did not
Risk that the house had shown such a feeling. as perm of
from tax, as laid them open to the remarks of his right hon.
bird. He (Mr. Gladstone) would admit that the income
to had its merits as • part of our ordinary and regular er-
ten of taxation; but in his mind there were two great objec-
tions to it as a tax. One wee a moral objection ; for it wee
net to be denied that the income tax did much to corrupt ad
gee not from the mode in which it was levied, which
be we hound to say wee in every way as onotieeden-
Ws es it could be, bet that abet wee anwelial
to the ethers of the tax itself. (Hear, bier.) Anatol, ob-
jection toes, that so long as the house cendieued re-
femme to special farrow to vote the hoer to as • pert
of the edinery meow el the emir, need Meet look
to or herein. thy veinteles of (Raw, bear.)
The theme to wee as eight* si Wanks so they awl eon-
renithd—it wee they ne lei en a may or two-penes b the
pound on property—that so loos =yen retained the bathe
tax as a permanent impost you need act think of @Mike
any effective or certain system of thenway in the eigust.
mints of the country. If it wee to be admitted that economy
we. not desirable, there would be every possible good resson
for maintaining the income tax; bet r he (Mr. Glaciates') was
one of those who thought it &sound urdpie that the apindi-
tors of thecoontry should be withhaldfrosircomingexassive,
that was one great reason with him for being of opinion,
either that the inoome tax should be used for the
for which it was originally imposed, or else that il=le:
come to • speedy termination. (Hear, her.)
Mr. CLEDWELL approved of the postponement of the
sinking fund, but thought that the Exchequer Beads now
falling dee ought to have bean paid off at maturity.
Mr. T. BARING complained of the general propensity,
which he said chmeotnised all finance Writers, of applying
every surplus in the revenue they might happen to eery to
the reduction of taxation, instead of paying off Impose
1 liabilities.

Mr. BRIGHT viertheted the mos of the itulastrions tax-
payers. Two earths la that hem. be remarked, win so-
ming eee seedier of extesepsey bet the people eat of
am trite bed to pay the woos were silly the mat
tereelet ti the question. TWO
elieft spa the public poNey, led ea tbl:Fhe=
the theme= se a eyelets whisk WNW poem ashy
with ethreoutheis sol mks stheroarsi lie miasma
of the set sod atatiy onemeole width at pseud eppemi
the enee et Os esethey.
The MANCILLOII. of the EXCHIQIIIIR deltedol
the dietpis toed hie bedge. The eight
hes bed Meld lb* Ida the statusist sob
ea • know seemols• Set Sop had boo • redeelks
of expenditure to the Wet of 1100.0:101. ;ma soopeoleg
the estimates of the meek par with thole dr
year, the right hoe. asthma had eadeavesed
oath • Memo wo melharised. Bet be (the Othesellor
of the leshopeed bed sew said that be had dieted •
min es the thrtes of di par over Sete of the le* or
SOS emst. LB be led rid the thet by the
NM
GO bad bees made there would be a nduetfott
of ezpeelltare to the soma et 800,0004 mad ha weld
show dot wet stMent wee moth the sem sad
▪ selitstes there wee • eethistko el Mr spa
Me ether estimthe—lhe talmikasee sod MO—den wee

ea egad sellaseis. =him ter et WOK The *he
hes. sestieme had he einvamemei wader whisk
Ise (he Cheateller el the lasbequer) seegend eat le hter.
ire whittle hies et the hesinaess, usletidelar thee the
impel vI twat to the rimes wo
es. t men Ala
has the sapipmemie Baer d had
ead redimplisa et Bonds. New ell hew
=le we earesesdi le sets et perhoseet, sad,
witeldm wen the ems. Bet wises he (the
Chriatellor el the begea.) wished to brim Wore the
lime was this, het there were eeaskieradesee Ids! pe
eresseted with the lee width the bowie weld sit avoid

-
ameihriso—reeekellig tit beer that there existed **e-
thos it =oh • seder mire to dm lammee-tax to hi pre.
milks that it waddle Impeolleis le make It • primmest
flattro hat tram when edlestirata ease
hada the pratimea et Nestimaddid . Mawr.) Not Sala ambers
at parthammt. (Neer.) Net lad tho drake ot swath and
tadidom Oletr. km) The dikladidit tapselko the lax
oars from prohedrall mat haa Eon
Mat& abase et erdstth sal ahead to No bpi.
bgra thessehr—Otesr, kar)—sied
meet dam compidas that so may phoe vim
aaretssetal. est that a comalthe wee spriated is aoadder
the waliewit. 1 • nala.i the spare ad it was bareedble
keep the halms taz, k is moat tee.., se a ponamat
hiliii• d err 11.11101 spas, est be Weal be had ad
midatorptiled he bib, et the bones ad the assay ta
ziossimeasp las ammo obit& lellevol the hemsas
=Lseselloa. (Beer) The rfokt ka. aa
W he la NUN then weld he a deadest, at
MSS SSW st wades, sal se 'drama to 11. Dot as
eallea et as labs la of
Ll 7 . ask so m
707141115111•4 liashea, ani. mad tee brad a
Willlll=4 Ind sr while add eat ha wadded. It wee el
thootessel ksperease eat the bean shad lore a aka
*dal spas the a**, sad ad with Amass sad oar

dikstay. Them was no greater filiftscy then the suppoeltha
that those who did sot swam of the present lasome tea
wan thereffte opposed to ell direct emetics, Meaner
en evprovul of an amount of dimes Smith* wee.
I.ll;onsehtent with the disapproval dthe midair
way ef income tax. It was of the utmost ht •
for soma mid political causes, that the income tax sob
be reemined as a permanent feature of our financial ;
sad when it was said that in 1860 the country be im
sash a position that it would be impossible to fulfil iM
=Mt, he begged to say that he never contemplated
e the solemn compact to which ftillflool6 ha/
been made. (Hear, hear.) He would say with.
=tee the war sinking fund. He bad resisted ita ethi-
c and as he did not believe there .was any perms
who really maintained the pracdeability of remising that
fend under existing 'circunistanoss, it was uo for
him to trouble the house with any musks on the we
He Wafted that them was a vvmery great difference between
our engsgemint to psy the Exchequer beads and oar
en-
gagameat to maintain the war sinking fund. But betk these
engagements were financial engagements, and the home was
of division that it was inexpedient at this time to lead
the commerce of the country with new taxation to hall
them' ere. The house having postponed the paymett
ot the Exohgmr bonds, 2.000,0001. had been plead at
his disposal in order to redeem those bonds, me he
would state to the home the arrangement which be had
thought it prudent to make. The house had authorised, him
to reke 2,000,0001. on Exchequer bonds, payable at a period
of not less than six mere, at a rate not exceeding I+vr
cent. He had arranged with the Bank for the lms
whims of 1,000,0001., payable in 1862 at 31 per seat.—
nee of interest which he thought fair and loorate. He
had meth it • part of the arreagemest that he should haw
Van pew eetranle the end of the year of sal to der
1000,0001. is ottlidos at the same rate. Bat ha mitertimed
the hope—emy, be ea very lively *radical—that the
stets dem bahmees in the Exchequer, strengthened bp ex-
tasedimry payments this yeer, would rendert unneomemy
to mthe the sediond call, end he believed that Is the course of
the yer he should be able to redeem or meet that amount of
(Hear, beer.) duringt great confidence in the Mate
of the sevens', became the whole of dm present
there had torn a onsaiderable rallying in its chief
It might perhaps interest the house if he compared the re-
venue for the diet month of the present financial year
—nearly, from the let of April to the 2nd of
May—with that of the corresponding period of 1857.
He would in the lint place refer to the excise.
He gave them the make sa a sure test of the condition of
the couatry. Penn the lst of April to the 2nd of May,
1867, in the vary height and flush of our prosperity, hug
at
reemeing symptoms produced mmercial wail es
thread at the year, the mons 1,368.0001., end in
the ante math this year, after all the commercial depresses,it produced 1,602,0001. (Hear' beer.) The stamps boa
Art to Way, 1867. produced 480,0001., and in the same
month this year, 678,0001. (Hear, hear.) Then nue ales
sat inaresee In the land sad manned tame from 1101,00111.
668,0001., and there was a considerable Mamas la the am-
toms, and specially under the head of tea. He thought they
had a right to supper., that this Mamas in the revenue waa
not trsasieet and evanescent, but arose from the tomeased
resourom of the country.
After some remarks from Mr. Wilson, Sir H. Willoughby,
Mr. Blaney, Mr. Hamilton, and other gentlemen, the bill
was read a second time. _ _ _

The eteced reedingof the Stamp Duty on Drafts Bill
Laving been moved,

Kr. T. BARING mid he had presented a politica ahw
days age *Oast this noseenre from the members of the Stock
Exelsaage, who opposed it both as a matter of expediency
sad a pelnelple. He was nut disposed to oppose his right
hon. frhad's fraaadal arrangements, but he doubted the
'windier of the principle of this tax. There would be •
what objeetioa to It on the Stock Exchange, where cheque
wire mob used for balancing amounts. Be also feared that
it would lead to • withdrawal of banking accounts, and that
• greater demand for specie would be created.

Yr. °REAVES did not rise to oppose the tax, but feared
that the evil oonsequeooes which had been pointed out would
result from it. The country bankers had determined not is
offer any combined opposition to this tax, though It would
fall largely on themselves, but they were anxious that docu-
meets, which merely mend as memoranda amongst them-
selves, should be exempt. A clause to this effect would be
submitted in committee.

Mr. BAXTER thought the tax u little liable to objec-
tion se any that could be proposed. (Hear beer.) He did
not believe that it would interfere with capital being
economised. The public had heoome so accustomed to the nee
of cheques that they would not readily give them up. (Hear
hear.) In Scotland the cheque system had been much
longer in use ; and there was a general testing there smonpt
mercantile men in favour of the tax. He had never known
any valid ground given for the enemption Irmo duty of
cheque. drawn within 15 mike; end this measure merely
removed that unjust exemption. It might be well if cheques
below 61. were exempt from duty.
' Mr. .I. A. TURNER sold the bankers and merchants of
Manchester objected to this tax es a step in the wrong diem-
ticm. It was a decided tax on commerce, and must tend to
diminish the nee of cheques and Moreau the demand for
of which there had been lately too small a supply.
Wilis'entut teud to less accuracy of accounta, most increase
the &acme of theft, and moat deprive bankers of the mean,
of Wording the aooonnoodation they now gave.
Mr. J. SWART did not think there was much objection to
this tax in the town of Liverpool, but he hoped the Chancel-
lor of the Exchequer would allow the use of penny postage
lamp on cheques.
Colonel SYKES also urged an extension of the use of the
puny postage stomps for recelp_te.
Milt • bw words from Mr. DINT,

The CHANCELLOR of the ERCHEQUER said an
*aim hed been urged to the principle of this tax, es the
=that it wee a tax on oommerce. Now, the feet
WE before them emerted no new principle; it
astb tested a principle, and to abolish an extles r 6-
veer el trishre cheques, which no one attempted is dried.
(Hem bor.) His hen. friend the member for Herlsoka,
who espervist ths Block Exchange at this ousels,
.said a piles Ira that body, In whisk their °Weeds* hi
this shwa win my wordy express& The membeir 41
the dleskT,Mrrie were turrhabls kir their Mg=
seetssim (" Hem" sail a leak.) Her did they
Tepid Is dr MB 11 dry midi dot the bid Mal Imp
grit lasserskass aid 60 Om If ass/ ; ash a-
asallAtheyoold Oath mad Ow wail (laughler.)
Ila lad as doubt hay
_add. ho lad vast odium
the mimes at as Bleak Iwitaago, sad hit eatteutatinitz
*dr oweageorede he acadooting thole
dry end stub dr sampsers of the new set. But, if
they could swede it, whin was the islustios f (" Her, beer,"
and laughter.) On the other Wad, if it wee isearreedmt to
evade it, and if It was mot sonssistit lo pay the saw tux,
where wee the inject log Is eking thus to eye • paw Ike
that ow:minima. This me a tax upon set dr
upon luxury. As mist ri see, they melt know that they
would gain soon by the reduction and final extluolloS of
the income tax than they would lose by this posy
stamp, end therefore he was certain they would see
ems to murmur upon this point. His heareatabis Mod
ornaplained of this new system of tem* sad sell
that the revenue would soon be wholly bullt up of Amps,
Bat hie boa. friend mutt be aware that no clue had bar -
, filed so largely by reduction of taxation' aa commercial ism
What class, for example, had so largely benefited %gift
reduction of the postage ? (Hear, hear.) With
to the we at the pinny postal; stamp, tlfat
bad been well eonaidered, but there were great disaelde 1a
the way of currying It into offset (Hear.) It was sted
however, finally Mild, and In committee he would made
some farther remarks upon IL (H ear, hear)
The mot os to the mooed reading wee then agreed to.

OOVERNJW!T OF INDIA.
The been thou von lie eamdelee on the Goverment at
Is rossidkata. _ _

Os ihs masa mechdies:—. That for this purpose it is
dpstilsot yeevidet lisit has /Welty, by one of her Prim.
ell ilemeinfss- el Mete, did have sad palms w
proms sal dales reisalig to the government end MIMI/
of Lis whisk me sr wig be sow marched end performed
by*, PP Cempsny, or the Court of Directors or
Crlai Ci Prosciuttos of the acid company, eittm alma aft
loft/ the approbation of the eammisioners for UN affair. at
Indic"

.ra.cd.Eace.

Kr. LYRTON roved to inert the -..
Ilan therm, .—" That, ia order to MIMI the
of ere gormand with doe OW% 011116:114 and eilleinty, all
the power wad dors now nerd in the Bar India Corposy.
the Orin of Directors or the Court of Preprint of the said
=glair nag or with dr approbation of dr em-
ir the rine et Ink, aloall be orataind and
Priest b a Ilialror of the Crown fa Corsair The
whir g .ytes of govetawnst fa ladia wee sot briny to e
day. Is was the rant et rash arpedasee
artad row
War& Atoning to the aloft law, tbo seal
of the
porn* of ladia were bard tranaseil all brier wish
the eentrilhea and in coma NA was born to oaralt
the ea ai align of tors near. sad the transillare win
le tested dielr widen la Inlet; and ft dr row and
claim of Ito deter ere Mann her lbw of the
sitiedWel neared! be was ate libdp to 6pert ben Chair
eine. Mame tho redo ef eatinednglindnronoldidewn
hi theist of 1" and 60 Newt mend thsearribiag.
The wiedninnolea et Whin la hallo was !Mild W. kw
dwarineate : 6, plllWg, tin lard, the weliary,
Lady • loth thwer son of sormaneente
win a anwierap v6o hrinent., arry en the dwells of adadre-
ttailin end who erowndeaM between dine dignelonnie
and dr Groaserenwa Is thandL Tido error hewing
wing we hi ri boil as w ',kat anger thaw
wield be ileklerhuse • awe ant for the arras. But
it wee Ann& flint there wow* `are storeity to or
drat a alien of the rens to 116 ea then wend
be ia thorn of a Gorronawansrl to ladle. 16 Elbert
that lbws Tao so NAV kr Oki sibilles, the
peasirip lb• sikkor lows Palls NOW
111 mold ais pm* Wk. Thus was ay
my, Wyss kr 400 d mod OM
Ila• ripe of Wiwi. Wiry at of as /array for