The Express.
London, England, 1857-03-07 00:00:00

of supply. (Hear.) After holding out oertain expectaffona
to the traders, you anticipated their fulfilment with the Ingo.
nious remark, that the loss, after all, would not fall on the
consumer but the dealer. (Hear.) Thine who were en-
gaged in China trade were perfectly entitled, except
under great pressure, to the benefit which they expected by
the fall of duty as providol in the act of parliament. (Hem)
Much had been said on the inexpediency of prospective legia-
-1I Wien, and different philosophers came into play on the gum-
lion. The right prin,•iplo, it was said, was to vote the
taxes fur twelve months, PR you voted the supply for twelve
months. Well, ho would show what the effect of pruspee-
live legislation had been in respect to the supply of tot. His
right boa. foetid stated, in reply to a deputation, no appeared
from the public papers, on the 23rd of January, ten days
heftily the muting of parliament, that the war diatom on tea,
sugar, and coffee would terruinate on the sth of April. He
(Mr. (llailstonu) must say that if these words, or words
equivalent to them, were used by his right hen. friend, it
became a serious question for the Howie of Commons to con-
sider whether they would sianetion en increase of duty,
beamme no doubt, if these words were used, persons engaged
in the tea trade would immediately and unhesitatingly proceed
to arrange their conumuniestions with China in conformity
with that statement. (Hear, Mar.) Hut with regard to
prospective legislation, if that was had, the proposition of the
government, is Melt only provided for the next twelve months,
waa good. The right hon. gentleman opposite (Mr. Disraeli)
thought differently, because he provided fur a fall that ran
through four or live years, whilst the government to
which he (Mr. Gladstone belonged provided fur four years,
namely, from 18.53 to 18.3 • What was the eon...lmam of
that prospective legislation P In 18.53 that prospictive legis-
lation was adopted, and in 18114, although under the unfavour-
able eireunistances of the rebellion in China, the efforts of

traders and merchants ware so active in provident fur the
public wale that the imports rose from 71,000,00016. in
1853 to 86,000,00016. in 1854. Towards the close of 1044 it

became nevossioiry, in consequenee of the war, to arrest the
fall in the tea duty, and the consequence wee that the supply
of ten, which rose in 1854 by 14,000,0001bn above that of
1853, not only did nut rise, but fell 2,500,00014 r. below
the supply of 1851.
An 110 N. MEM111:11-1,:700,00011.e.
Mr. GLADSTONE—The figures which be bad were dif-
ferent; but it did not matter as far as the argument was
concerned, fur the supply remained sa near as possible eta-
denary in 1855 and 1856, showing that as the duty fell the
supply and the consumption rum, but when the fall of duty
was suspended the convuniptiun waa also armsted.

The ZIIANCELLOIt ui the EXCHEQUER—Whatwee
the supply w 18.561.

Mr. 01.AOSTONE—fel,000,0001bs. But that remark did
not tell much for his right him. friend, as what be looked to
wan the roneuniption, not the supply. Of course when rips-
rations were largely extended they could not be ouspended in
a moment. (Hear, hear.) The consequence of presprntivo
legislation had been that there were large, docks of tea in
the country at the present time than woe ever the cue
beim.. (Hear, hear.) In the preeent state of China this
one a most satisfartory moult ; but the right hon. gentleman
=not to exult in the gains to be got out of the tea.
because they ware dieeppointed in the expectations
videbi lbw very naturally entertained. (Hear, hear.) The
boa. igeWimimn (Mr. Wilson) founded his argument upon
venni which he ought to be the last man to advance. He
Iliad that the government were in the unfortunate position of
being obliged to make provision for war obligations which
ware contracted when they entered Mike, sod ware left en-
rtivrter. The hon. gentleman was entirely unfounded
eilatement. The war obligaticess were net left un-
peekied for ; they were meant to be provided for, and were
provided for, by the half-year's tall income tax which was
wig tn. In 1854, when the House of Commons granted
eret the power of contracting temporary
.obligations
oehape of Exchequer bonds or bills, they did so upon
the expense showing of the government that they were only
going to borrow upon the anticipation of the income tax.
That was a very plain and simple matter and now came the
time fur the rcohimption of the pledge. There were
6,000,000/. of these Exchequer bonds. You had 4,000,000/.
or 6,000000/. of the half-yearly income tax in arrest. Of
this 2,000,0001. were to go in payment of the Exchequer
tondo. That woe perfectly right, became it was a redeem-
ing of the promise made to parliament. But the
other 2,000,0001. ought to be applied to a further
redemption of the war obligations, and not to the
ways and means of the year. (Hear, bear.) There-
fore, ea far from being encumbered with war obligations, pro•
vhdon was mode fur the diecbarge of these war obligations,
but instead of applying that provision to the purposes to
which parliament intended it should be applied, the right
hon. gentleman was going to apply it to maintain the
establiehments of the year. (Hear, Therefore, there
was no ground wbateverfor laying fresh taxes on the tea and
sugar of the people, in order to make provision for meeting
the war obligations—that provision having been already
made by parliament. He had spoken of the abundant
stock of tee on hand, and es he had n motion ale on the
subject of sugar, it would perhaps bo better if he
were to say a few words now on it. Ile thought hit right
hon. friend made a serious error in his description of the ease
of sugar. Ile understood his right hon. friend to say that
the war tax on tea and sugar had been borne without
any diminution of consumption. The war tax on sugar was
no doubt aggravated by the high price ; but the war tax was
so much in addition to the high price, and so far from the
comforts of the people not being diminished thereby, a large
dectesae, on We contrary, had taken place under the coin-
Dined influence of high price and war duty. For the first
eleven month. of 1854, the consumption of ii%jor was
7,206,000 cwt. ; for the first eleven months of 185.5 it was
7,178,000 cwt.; and for the first eleven month, of
1850 it was 6,771,000 cwt., so that in the course of only two
years in this important and tasential article of consumption
there was a decrease of 835.000 cwt., or one-eighth of the
whole consumption of the people. (Hear, hear.) That was
a serious fart for the consideration of the 'louse of Commons.

They had been labouring and struggling for many years to
carry these great olecta. For many years the question of
the sugar duties wan not merely aria question of revenue, nut
merely sea question of prospective kgillation, but as a
question connected with high timid intereets and the in-
terests of humanity—was a capital question of debate in the
house. (Hear. bear.) The West Indian planters were the
only persons who redly buffered from the reduction of the
sugar duties, and this entitled them to fair consideration at
the hands of the home; but for the sake of increasing the
supply of sugar to the people of this country the home not
only meritieed revenue, and broke down the fortunes and in-
terests of a clam, but riaked and hazarded the serious evil of
&sing • new stimulus to the slave trade-such im-
portance did they attach to the object of Increasing
the consumption of eugar. And now, under the influence
of high pelves which they could not help, and war duties
which were more within their discretion, in the course of two
short years the consumption of the people was reduced by
one-eighth of their whole consumption. (Hear, hear.) It
was ire, ible to show mote: clearly that this was a matter
which tided the most serious consideration of the home.
(Cheers.) It must not be mid that with regard to the eager
supply it was so limited that it could not signify whether they
ad &d a shilling more or leas to the duty. That Was the
gement fallacy in the world. With regard to tea, indeed,
of which much more than one-half, he believed two-thirds,
of the produce of Chine, came to this country, there might
be some grounds for raying that an addition to the duty would
not much affect the supply in their own market in
relation to other market", because there was no great
area of supply from which they could draw, on a
reduction of the duty. But that was not the cam
with regard to sugar: that wan a product which extended
over an enormous variety of countries. Our consumption was
between 3.10,000 and 360,000 tons out of perhaps 1,400,000
tons which might be tarn as the whole exportable produc-
tion. There was an immense area from which to draw that
eupply. He believed that cargoes of sugar came to Cowes with-
out anydefinite place of deotination, but according as the price
of sugar was high in London, Hamburg, or Amsterdam,
the veseele proceeded to one or the other of three places.
An addition of a shilling to the duty on sugar was therefore
a matter of great buportance, because its effect might be to
diminish the stock of sugar in thin country. It was there-
fore by no means unimportant whether they put on an addi-
tional duty on sager or not on the plea that the crocks
were small. Though the stock of sugnr was mall, it
would be made yet smaller by arroding the fall,
dint was to my, by increasing the duty. (Hear, hear.)
He had *tidal to the committee what was no:emery to put
the question in s clew point of view. and had no wish to
repeat what he had erection a former evening; but he should
won enter his protest against the mppenition that they
were then called on to take • proceeding or mere secondary
importance. It, was represented that thin wan a mere adjourn-
ment of the fall in the duty—that it was merely rimming the
question for the new parluunent : it wee no such thing. If
They could leave the question in stets quo let them do so—let
them leave the question to the judgment of the new parlia-
ment; but let them not think that this was • mere secondary
or formal proceeding—it was the fleet step of rehrogros-
don in the path on which every onward step had bestowed
eueh lavish blessings on the people. It was easy to say that
they were not going to make an increase, but merely to poet-
pone the decline. If, however, the proposal of the govern-
ment was aceepted, what example would they chow to future
Chancellors of the Exchequer? At the present moment they
hail a surplus revenue secured by law, yet in order to secure
certain other reductions they were going to impose new
duties on tea and sugar. But what would be the condition
of things next year? At the present moment they bad
ample mean", in their bands; but another Chancellor of the
Exchequer would be in a very different position in 1848.59,
when he had to provide for the enormous deficiency which
must result from the measure of the present government. He
would have to come to the house and ask, not for an inmates,
but fors further suspension of the reduction ; and in all lea-
bability ho will have an infinitely better cam, for he will be
able to nay, you suspended the reduction at the very moment
you were in possession of a surplus revenue in order to reduce
something that premed on the wealthier cremes; and he will
justly say, you ought never to have taken the first step. lie
will say that in 1657 a parliament on the eve of its dimly".
lion left a deficiency which he was called on to meet ; it IFELS
necessary to raise a certain sum, which he would divide be.
tween direct end indirect taxation, and he would, therefore,
be driven to propose a further suspension. Ile (Mr. Gbek
stone) was mote desirous to avoid anything in the
nature of a factious opposition, and if, when he had
stated his views, he found individual members were not
likely to support him ho would, after taking the arose of the
committee, respectfully withdraw his opposition; but if, on
the contrary, ho found that his opinions met with support, ha
would not shrink from the duty. of pressing them to the
ntincet of his power. He convinced that it wan of urgent

_
importance to redeem the pledges of parliament in this re• i
gard. It was important in itself, and important with a view _ 1
to the satiate/lion, contentment, and loyalty of the peoples i
sad hopostant, he did not hesitate to al, to the stability ot
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