The Express.
London, England, 1850-03-19 00:00:00

STAMP DUTIES.

The house having resolved itself into committee on the
stamp duties
The CHANCELLOR of the EXCHEQUER said that, in
!Bovine the resolution on the stamp duties he wished to state
that though at present he proposed to deal with that glen of
stamp duties only which related either to transfers of pro
petty, mortgages or bond,and leases,te by no means intended
It to be understood that there were not other closes of stamp
deities which required to be considered. (Hear, hear.) But
k should be remembered that the question of a general revi-
glean the stamp duties had been under the consideration of
miens governments. In the time of Lord Aehorp a scheme
had been prepared on the subject. A Cutler scheme had
been pepared by his right hon. friend the First Lord of the
Admiralty, and he believed the right hon. gentleman oppw
site (Sir R. Pal) had one also under his consideration. But
all then schemes for a general revision of the stamp duties
had failed in consequence of the mass of minute details
which had to be dealt with, and which it was found impos.
slide to adjust in a satisfactory ma . The consequence
was that nothing bad been done till last session, when ha took
the Ant practical step in this matter. He thought it more
advisable, with a view to obtain practical results, to deal with
the subject piecemeal, as it were, than to bring it before the
beaus in one genteel measure. In that welt he thought
shay would be able to arrive the most rapidly to a practical
remlasion of the stamp duties. The class of stamp duties
with which be now imposed to deal were those which
related to transfers of property, mortgagee or bonds and
leases, and the general tenor of the proposition he was
about to make was that, instead of the present very
nnespial and unjust rate of duty, Abe principle of an ad
~Mew duty should be adopted as nearly as possible. To
any out the ad enforces principle strictly would be utterly
=ible, in consiquenee of the multitude of minute repu-
ted details which would be necessary for that pur-
pose, and the practical inconvenience to which it would give
ries would be found more irksome than if he departed a
little from that principle. Under the present ge-
nts the jumps were very great from 1,0001. to
2,0001., and from 2,0001. to 3,0001., and so on.
He proposed to make them much smoke ,r • he proposed to
begin with 251., and to go from that to 601., and then to
1001. The result of this would be as nearly as possible an
ad valorem duty, without giving rise to much practical in-
convenience. But, further than this, he proposed to effect
a considerable reduction upon stamps in transactions under
1,0001. AA the best mode of explaioiag to the house what
he proposed to do, he would state a few intimate with
respect to conveyances, and mortgages, and bonds. And first,
with regard to mortgagee and bonds, he proposed that
as Ally mortgage or bond, the sum snared on which old not
exceed 501., and on which the present fluty was 205., the new
duty should be Ss. - exceeding 601., and not exceeding If 01.,
preemst, 30e., proposed, 10e. • exceeding 1001. and not exceed-
ing 2001., present 40e., proposed, 20a. • *needle, 6001., and
not exceeding 1,0001. present 6i. ; emending 5001., and not
exceeding 6001., proposed, 31 ; exceeding 6001., and not
exceeding 7001., proposed, b. 10s. • exceeding 7001.
and not exceeding BON, proposed, 41. ; exceeding
5001., and not exceeding 9001., proposed, 41. 101. ;
(Knelling 9001., and not exceeding 1,0001 , proposed, 61.
exceeding 1,0001., and not • mediae 2,0001.. pre sent, 61 ;
exceeding 1,0001., and not exceeding 1,1001., proposed,
61. 10h.; exceeding 1,1001., and not exceeding pro-
posed, 61. ; end then higher than at present 10s. per cent.,
eking on each additional sum of 1001. Present scale
tor at 261. Leases, where the rent reserved is under
presentNUAgosi•
to
11 • not exanding 201 i per cent. ppoeid,
L. ; amounting 201., and under 100ro
1, present
11. 10s. ; amountiag to 1001., and under 2001., present 21.;
amounting to 2001., and under 4001., present 31.: ex-
assoiag 261., and net exceeding 501., proposed 64. ; ex-
aredin4ol,and not exceeding 754, prop geed 7e. Bd. ;
exceed 761., and under 1001., proposed 10s. ; exceeding
11101 ,an not owning 3001, proposed 11 10s. ; emcee ring
$601., and not exceeding 4001., proposed 21. ,• and so on.
Conveyances and transfers, relieve up to 1,4001, 4 per nut.
ng_to 6001., 1 to 1,0001., 1 after 1,0001.-Not amounting to
201. lease 10e., ukase 10s.; not exceeding 251., proposed
N ~
; amounting to 201. end under 601 let se 15"., release
lb., present U. Ille. ; amounting to 501 and under 1601.,
lase 205., nines 80s., present 21 10s. ; exceeding 251 and
net smoiseding 501., proposed se. ; emending 601 and not ex-
ert** 751., proposed 72. 61. • 'nosedive 751. and not ex-
mean 1001., proposed 10s. ,• eiesedinglool and not exceed-
ing UAL, peoposed 12e. ed.; exeeeding 1261 and not
emessilheit 1601., proposed 15e. ; emanating to 1501. and
Weir 2001, kites 364 rehire 405., present 31. 10.; exceed-
Ins VIOL and not exceeding 1751., proposed 17s. ed
=1751. and not extending MOI., proposed lie.;
2001. and not exceeding 2601., reposed 21a;
PHOollial 2601 and not exceeding 3001., preresed 110 e. ;
pet fiennase 6001., present 71. 151 , piopssed 2!. 10e. ;
sat sgissaileiglMol., present 101. 15e, proposed 11. ills; nut
43,44ag1ei 2,0001., pre, ent 131. 150., proposed 71. 10e. ;
sot exceeding 1,2001, present IN. ISt., proposed 121 ;
not exasestlag 1,4001, present 181. 15s pr posed 141.
He would now beg to call the attention of I ish gentlemen
to what he was alms; to say, beaus leases in tlist country