The Express.
London, England, 1850-04-11 00:00:00

MARKETS

TEA —Morse find Co.'s Circular, d ited April 9. says :
We have not thought It necessavy to publish any circular duce the
date dour last In January, until the present time, Met. en account
of the very scanty Intelligence received by the mtula from China;
secondly, on amount of 'he stagnation of business consequent mein
the large amount done In January, and the expectation of a reduction
In the duty. With referenee to the former, It is well known that the
greater pert of the country dialers not only bought with the freedom
with which they are generally accustomed in the month of January,
but that very many of them were Induced to perdu,* even more
tersely upon the expectation of the duty being reduced, and the a'.
vance anticipated In the price of Tea in comomence. But the agita-
tion in luvour of such reduction received its death-blow
from the Chaneeller of the Ic:lehcquer at the declaration
of the budget, for the right hen. baroftt stated, that
" 11e would take the amount of the duty for the next year, ending
April 3, In round nimbi-re at 3,300,000 r. The preposition to reduce
the ditty to Iw. it carried into effect, would occasion a toes to the re-
venue &no lees a num than 3,040,04aq. To restore the revenue to
the state at whleh It stood prior to the reduction or duty, It would be
accessary that dhs coosumption should incmaye to the extent of not
lege than 10,001.1,00b1b5.. or en:-fifth the whet.' nmount. Estimating
the lees to the revenue by the proposed reduction of the Tea dutlea,
according to the most favourable calculation, at only f,500,0001. 1t is
obvious that no Chancellor of the Exchequer would be justified in
sing this redaction unless be had a clear surplus of at least
prop
0.0001. Unless, therefore, tine house will sutler me to impose
some tax to produce 3,000,0001., or will allow the surplus to accumu-
late till It reaches that amount, it will be impossille. with salty to
the revenue, to try the experiment of reducing the duty on Tea."
If those of our readers who have adopted our advice and
filed our circulars, wtu refer to than, they will end that the
substance of the Chaacellor's etatesent, with the except ion of his error
which we shall presently point out, has already been published by us.
And as we cannot well anticipate that the budget of In it will show
the necessary surplus of 3,0011,0011., we must calculate on a continua-
tion of the Tea duties for the present. Thls statement of the Chan-
cellor's, that an Increase in the comeniption of Tea to the extort of
10,000,0ee lbs. per annum will be memaary to supply the deficiency
in the revenue by reducing the duty to Is. per lb., is one ot the moat
lamentable exposures of Ignorance and miscakulation that ever die-
graced the youngest student of Cooker's Immortal science. Take the
consumption of Tea In this country in round numbers at 50,000,01*
lb,. per annum, and thy duty at Is. IN. per lb., end it will Shea
something like 5,450,0001., as the revenue derived from this tax.
nut the Chancellor of the Exchequer sat s, si If I reduce the duty to
Is. per lb.-mark you, that is takieg off Is. 21d. per lb.—lt will re-
quire an additional consumption ot 10 000,0110 IM. of Tea." Will It
We think not; for if it requires a yearly consumption a30,000.0001ba.
of Tea at Is. I,ld. per lb. duty to peodnee a revenue of .5,430.000, how
can It be proved even to the satisfaction of the Chancellor of the Ex-
chequer, that when the duty is Is. instead of is. lid , and the total
means Olt the 50.0041,0001. is reduced Won 5,1,0,0u4.1/. to 2.500,01/0/.,
or Is than half,—that another 10,1100,00011 e. of lea consuoied will
at la. per lb. duty, make up the dedeleney I We rather think the
chancellor of the exchequer wIU tad our statement a little nearer Use
mark than this which be latlettheeS. Ile says :
Duty now levied produces 143,430,000
Duty if altered as proposed would produce
Leaving a deficiency of
Additionel receipts on 10,000,11001 M. entrails cal-
aimed at la. per lb. duty is
Still leaving a defietesey of Z. 1,480,000
We say that if the duty were reduced Is. per lb., or lees than half
what It now le, leaked el the comampthie by liteco,twolbs.,
or anwelth, yeasts* none ilia fishie the peewit consumption ; or,
la other wane, lacrosse It by 1110110,000Ols old tad I°.ou4ooelbn"
Or al UMW the amount elated by the pssehar. Although this de.
elks of the tyseetica, which dleappetated may who believed tint a
redustien would take phi" has Islam crane caused the eanadee
edam which has hasty pewihd,, I brand depreciated prlstat;
550 MB the lower dcentp !Welke pet at the Mien
les am am lately hoe welded stel*pW orders Aid elsegemess,
eft w Mims Wise bra kept book mat bedsit Fag lewd.
tin &An be Vs nuilikes ion* Ispi bee bre le Non&

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