The Express.
London, England, 1850-03-16 00:00:00

THE FINANCIAL STATEMENT.

The house then went into committee of ways and means,
Mr. BERNAL in the chair.
The CHANCELLOR of the EXCHEQUER then rose.

The right hon. gentleman spoke at first in a very low tone,
owing probably to his recent indisposition, but the house
being remarkably attentive, be was heard tolerably well.
He said—Mr Bernal, sir, I must, I fear, ask the indulgence
of the house if I am not very able to address them on this
occasion. (Hear, hear.) And, in the next plate, I must
cx .rt se my sincere gratitude for the kindness and forbear-
IlllC3 which they have extended towards me during my
ueavoiaable abeence—(hear, bear)—and I assure them that I
have taken the earliest opportunity which was in my power
to appear before them, to make that statement which the
all no doubt anxiously expect. (Hear, hear.) I
have now to lay before the house two estimates; first, en es-
timate of the income and expenditure for the year ending
the sth of April next, and subsequently an estimate of the
income and exp-nditure for the year ending the sth of April,
1851. I have endeavoured to do so with all the accuracy in
my power; and I have availed myself of the as•istance and
exertions of one of the best and ablest public sea-
van.s the country has ever known, and whose un-
timely death, alter compli ting the budget for me

.
the other evening, I ant most curry to announe.
Theta who have preceded me In the office I hold, and have
been connected with the pr.paration of a budget, know that
no more zealous savant of the public ever existed than Mr.
Brooksbenk. (Hear.) It was only the day beim.e yesterday
that 1 received from him the last final figures of this budget;
and this morning I received with the greate.t regret the
news that he had ceased to exist last night. ( Haar.) Whin
I Lid lutire the house an estimate of the income of the yi ar
in the e ,unie of lest summer, I estimated it at 62,262,00 W.
lion. gentlemen have had in their hies the balance•sheet
up to January last, up to which period the receipts, excl..
sive of unclaimed dividends, which ought fairly to be taken
into the account, were 62,874,0001. The income up to the
6th April I cannot estimate at quite so large a sum,
fur the receipts of this quarter Are not so high as
in the corresponding quarter of lest yen. I believe,
that the probable income of the financial year ending sth
April next, will amount to 62,789,50 W. The estimate
elf expenditure was 62,157,6961. The expenditure up
to the 6th January was 50,853,822, a considerable reduction,
so the house will observe, below what I estimated it at in
June ; and I am happy to say that the expenditure for the
year up to the 6th April will be leas Mill, and will Amount to
50,633,6511. That may be affected, however, by the pay.
moat el the sums taken for the nary excesses of last year,
thus ;itemising the actual ezinn..ituru of this year ; for
it sometimes happens that they fall partly in one year and
p rtly in another. But, :elusive of that, I t stimate the
probable surplus of Income over expenditure at about 21
millions. (Hear, hear.) It will be remembered that the
probable surplus I anticipated last June was about
104 0001, and the house must not be led away with
the nntion that du re is an increase of income
Over expenditure to the amount that appears; because a cer-
tain portion of the est:mated expenditure, namely, that for
azoscesa, was actually paid is the year ending 6th Aril lot;

sad Ow engine over the estimated expenditure. Including I
the wenn Ilisyjcable against the votes this year, and partly 1
fail 4117,0001. lam ham to state, however, that
the income we. larger than I nisbed by about 623,6001. ; 1
401, what I think will be mare grardfft to the house, as I
showing that we km not been wamingral ed ear own pre-
ibisimes, sr of the resommeadatiam to emmemy which the
have was geed smog% to give stn--the ezpsadiftre is has
then the menet satimated by about 1,625,0001, of whieb
sheet 400,6001. may be pat to tits amount of the sites paid
is tits pwrioss year; and, by the ezereise of a most rigid
sonnomy,_we bared& year kept Wow the estimate by about I
1,200,0001. With regard to the alma for this year, I fear I
cannot encourage the house to bps doe SO favourable a state-
ment. In the first place we mum leek fee • considerable
falling off in the customs reverae, mainly from one or
two causes. It will partly arise hem a redaction of duty
which will take place in July ea =gar, and partly beams
than are one or two other items idyllic& I cannot anticipate
so loge an Importation as has taken place last year. The
decrease on sugar from April, 1849, to the 6th of March last,
is so lees than 626,0001. I do not think that will
b. the am ;_s runlet. veer, owia
to tbk
eed A ,T I
resolutions which . n
moved in "leh ht.
the effect of bringing In a large quantity within a
week or ten days in the month of July. That was brought
to market over a long period, and caused a decrease in the
amount of foreign susses imported paying a high duty.
Then there will be a farther alteration on the 6th of July la
the duty on foreign and colonial rams, and we cannot cal-
culate on the same amount of receipts. Those who talked
of our colonial producets being rained by this measure hare
been altogether mistaken; for the increased entry of sugar
is entirely of colonial sugars; and I find by papers from
Dutch Online that extreme distress prevails in that colony,
and the remedy they areproposing to apply is the abolition
of slavery. (Rear, hear.)pr Upon another item there has
been a large increase of consumption is the course of last
year, which I do not anticipate can be maintained, the
article of brandy. The increased consumption is the year end-
ing Jan. 6 last, over that of 1848 was no Ices than 677,000 gale.
producing an increased duty of 433,0001. This has not been
accompanied by any reduction in the quantity of other
spirits consumed • the gin and British spirits entered for con-
sumption have likewise increased during the same period.
This Increase in brandy is attributable, I am told on the
most trustworthy authority, to the alarm which was caused
last autumn by the prevailing disease • and its Ming thought
that the consumption of • better description of quits was
likely at any rate to counteract the alarm. It is nct pro-
bate:* therefore, that this increased consumption will be
maintained to the same amount. Nor do I think it at all
likely that we shall receive the same quantity of corn next
year as we have received this. I stated, in the beginning of
February, the enormous decrease in the ireportat.cn at the
close of last year and in January last ; and by the weekly
returns from the customs, I find the same decrease went
oa through February. For instance, of whcat and
wheat flour there were imported in February, 1849,
485,000 quarters, against 146,000 quarters in the
same month of this year; being a decrease of 339,000 quar-
ters in the month. Of grain end flour of all sorts there were
imported in F. 'wary, 1849, 950,786 quarters ; in February
lest only 268,875—a decrease of 681,000 quarters in the
month. It must be obvinne, if the price is not remun. retire
to the importer, that nothing like the same quantity of grain
will be imported. Tekirg these circumstances into contd.
deration, I think we must be prepared for a coati !crab's
reduction in the cu•toms . The receipt'., op to the
6th April, I estimate at 201 million, of which 475.0001. is
from corn, leaving on other articles • receipt of 20,025,0001
Looking at the probable lose on sugar and brandy, estimated
at between 400,000/. and 500,0001., end anticipating some
increase on other articles, probably on all except corn, the
receipts from the customs I estimate at 19,750,0001. I
believe the estimate I formed last year of the probable
import of corn may be taken as tho estimate for
this year, 230,0001.. making the probable receipts from the
• customs duties, 20,000,0001. On almost all the other items
of revenue, I am hippy to state, we have the best founded
expectations of an increase. The excise, I believe, will
produce this ycsr, 13980,0001.; in the coming year I am
warranted is taking it at 14,015,000/. The stamps will, I
believe, produce this year, and the same next year,
6,860,0001. The assessed taxes, 4,320,0001. The income tax
will produce, I believe, this year, 6,408,0001. ; I take it for
the ensuing year at 6,410.0001. The posteoffiee I take the
same as last year, 820,0001. The crown lands, 160 0001. ; in
this ease I am estimatine the same as if the recent bill had

not passed, because it sane, to the same thing. The m scel-
lantous I take at 200,0001.; and the old stores at what they
have produced this year, 410,0001. ; making a probable in-
come of 52,285,0001. On the expenditure side of the account
the interstt and management f the funded debt I take
at 27,700,0001. ; interest on exthequer bills, 405,0001.;
making together a charge of 28,105,0001.; the civil
list and other charges on the consolidated fend 2,620.0001. ;
the navy estimates already on the table 5,840,1231.;
for the packet service 764,2361., making 7,613,071. for the
navy service ; army estimates already on the table
6.01J,2171.: the militia I take at rather less then it was lest

leis 110,0001. • the commissariat at 30,0001. less than last
year, or 500,1/001., making the army expenditure 6,629,3471. ;
the ordnance 2,434,4171 ; making the navy, army, sad
ordnance together 16,677.4231. The miscellaneous estimates
last year, were 3,900,8901 ; I take them, in round numbers,
at four millions. The estimate for naval e um amounted, in
the preceding year, to 211,1591. ; making the total expendi-
ture, with the estimates on the table of the house, and taking
the miscellaneous estimates at four millions, 50,613,5)2e
I do not, however, think that this can be taken as the whole
probable expedienre I propose, in compliance with a very lee-
neral wish expressed in toe house last year, to increase the vote
for the new houses of parliament. (Hear, hear.) It the
bill of my right hon. friend, the President of the Board of
Trade passes, hfor regulating the merchant seamen service,
it will ampoee a charge en the consolidated fund of about
30,0001. It is particularly desirable, also, that we should at
least commence some building for the reception of p•-bliii
records. (Hear, hear.) If the gements are com-
pleted, which are now in progress for the regulation of the
packet service, that may entail an increesed expense. The re
will, of course, be some vote for the Arctic ex,-edition.
(Hear, hear,) And there are other points of that kind
which do not appear in the regular estimates. I therefore
think it desirable to take a margin of 150,0001. to 200,0001,
to cover these possible items of expenditure. Taking them
at the lesser amount, 150,0001., the probable expenditure
will then be 50,763,5821., leaving a surplus of 1,521,418/ ; if,
on the other hand, this item amount to 201,0001., the proba-
ble surplus will be 1,471,4181. ; I may fairly state it in round
numbers at a million and a half. The general features
of this balance-skeet were made known on the meeting of
parliament both in the house and out of it; and the result
has been that everyone seems disposed to save me the
slightest trouble in disposing of this surplus. (Hear, heat.)
We had hardly got this balance-sheet out, when my noble
friend and myself received a very large deputation who were
interested in the redaction of the duty on tea. They
stated, and I believe with great truth, that it would be •
great advantage to the consumers of this country if the duty
on tea were reduced ; that it would very largely increase the
trade with China; and that after some time, in all proba-
bility, the ue would rise nearly to its present amount.
I am not disposed to deny that there may be much truth is
those positions; and indeed I believe that, in ordinary cir-
cumstances, the wisest course that could be punnet by •
statesman would be to reduce those duties which interfere
with the consumption of the articles on which they an
laid, it being clear that after a time the exchequer
receives the same amount as before, while the consumer
derives benefit. (Hear, hear) And if the house would
have the patience to allow the surplus to accumulate for
that to be done with the different duties the greatest benefit
would result to trade; and I think when the period has
arrived many duties may be advantageously reduced in that
way. But to attain this end it is absolutely necessary that
we should have such a surplus as will enable us
to dispense, in the first instance, with the whole
amount of the duty. The next proposition we re-
ceived was a remonstrance, stating that it was ut-
terly impossible fur us to be sincere in our professed anxiety
to promote sanitary measures, unless we were prepared to
repeal the duties on windows, on bricks, and on asp.
The total amount of these duties is 3,275,0001., being
rather more than twice the surplus we reckon on
for next year. The window duty produces 1,830,0001. ' •
the duty on bricks, 465,0001.
.3 that on soap, 990,0001.
Well, sir, various propositions for the repeal of taxes of
smaller aucunt have been made. It has been proposed to
repeal the duty on paper, amounting to 745,0001. ; on adver-
tisements, amounting to 157,0001.; on attornies' certificates,
, amounting to 120,0001. 1 do not say that there are not very
good arguments to be used in favour of the reduction of those
and of many other duties ; but looking, as I think we ought to
do in the first instance, to the interests of the great body of
[ the working classes of this country, I must say I do not
. think these are the duties which have the fleet claim to be
reputed. (Hear, hear.) Well, air, an hon. friend of
mine—l do not know whether or not he is in the holm—has
given notice of a motion for the total repeal of the melt tax.
(Laughter.) Now the malt tax produces 6,250,0001., and
it must he obvious to honourable gentlemen that, unless
some substitute of very considerable amount be provided,
it is utterly impossible that any Chancellor of the Exche-
quer can part with so large an amount of revenue. (Hear,
hear.) I will not say more upon the subject, as we are, I
understand, to have a distinct motion in reference to it.
The same considerations apply to that as to the other
large reductions which have been thought of. Unice.
hon. gentlemen are prepared to vote for seine substitute, it
is utterly impossible, with due regard to public faith and
public credit, to consent to a reduction of taxation so large
in amount. (Hear, hear.) Well, sir, the next proposition
to which I shall refer is one which has eke I•cen made in
this house by an hon. gentleman whose absence I am
very sorry to observe on this occasion—a proposition to
transfer to the charge of the geaeral revenue a very large
amount of that which is now levied by local taxation. Sir,
I cannot estimate the probable amount of the additional
charge involved in 'hat proposed reduction et !CPI than from
2,000,0001. to 3,000,0001. I will take it at 2,500,0001. Hav-
ing looked at the matter dispassionately, though 1
was not able to take any part in the debate,
I think it would certainly not be lees than 2,500,0001.
I wait sorry to see that the proposition had been supported
by such numb.,rs and by each names—(hear)—for, after
looking" at the subject dispassionately, perhaps mote dis-
passionately than hon. gentlemen who took part in the
debate were able to do, I cannot regard it in any other light
than as a step towards • decided reversal of that policy
which has prevailed for the last twenty ytars. (Hear,
hear.) I have stated that the probable surplus is
1,500,0001. Therefore, at lent 1,000,0001. would have to bo
imposed in the shape of new taxes. Well, now, whet are
those taxes to bet The noble lord whose loss we have all la-
mented, and who took • most prominent part on the other side
of the house, always avowed his opinion that a general system
of import duties ought to be resumed in this country. The
bon. gentleman who has succeeded to the same prominent
position on the side of the house which that noble lord occu-
pied, has stated, both in the halm and out of it, that that Is
the opinion of himself and of his party. dir,l repeat that I be-

Hue that if hon. gentlemen who voted for that proposition I
had duly couidered, not its distant, but its almost ins- I
mediate offset, they would have hesitated before .
they gave that vote. For it is my firm convio.
tics that the msjority of this house is not
premed to reverse its resent policy. (Cheers.) lay belief
is that that policy was most jut. For the last three or four
=drone aircumetaasse have prevailed—the famine in
, the &stria in this country and the universal in-
corruption of the ordinary state of tends with foreign noun-
triee—bat I hope we are now beginning to reap steadily and
surely the fruits of the goad seed which was sown ; and I
believe that that general wellbeing which nowvails
throughout the country will so reset as to lift up from ill
temporary pressure that interest which is at present alone
suffering. Well, now, I can assure hon. gentlemen who
represent that interest, that whilst I think the proposal
which have made fortsi relief is not a wise one, or one
which tends to the benefit of the country at large, I do art say
that because I am ignorant of, or insensible to, that pressure
which I tally admit is at hand, if it be not already felt—
(hear, hear)—l confess, and I hope they will forgive me
foe saying r. Om I think the onnelete.-
•••
intriy madethroughout die !let autumn were both a
preasturs and a little exaggerated. (Hear, hear.) I
mut admit however, that the prise of corn has bean lower
than I had anticipated it would be—(hear, hear)—and the
low price has been continued for a time beyond, 1 think,
what was expected by those who were disposed to take a
less sanguine view than I was. Bat, at the same time, I
think it is pretty clear that the prrent prise can hardly be
attributed to the importation of foreign core. I referred
on a former occasion, and I advert again tonight,
to the enormous extent to which the impertation
of foreign porn bas fallen off ; and I have stated also before
that the fall in France—a country in which the corn laws
have not been altered, and the people of which have had the
benefit of our demand in addition to their own—has been
greater than in this country. I saw only yesterday that re
ports have been presented to the President of the Republic
from the council of agriculture, manufactures, and com-
merce which speak of the state of agriculture in that
country in language as despairing, I think, as soy which has
been used at the meet despairing county meeting in Eng-
land. (Hear, hear.) They state that agriculture in that
country is subjected to revere trials in consequence of the
low price of grain and of almost all the produce of the soil ;
and they go on to speak of the intensity of the privations
which the agriculturists of that country are suffering. Now
it is obvious that the low price in that country
cannot be attributed to any importation of corn. I be-
lieve it is chiefly attributable to unusual plenty.
Nevertheless, sir, I fully admit that the change in the
law has imposed upon all thou who are concerned in
agriculture the necessity of making great exertions in
order to maintain their position. (Hear, hear.) I believe
myesll that the energy and exertions of all classes will be
required to meet that distress. (Hear, hear.) I em firmly
convinced that the 'skill and energy of the British agricul-
turist will enable him to surmount the difficulty for the most
part ; but I cannot deny, and I do not think that any one
who is acquainted with the position of agriculture will be
disposed to deny. that in that great difficulty there may be
many who will fail. (Cheers from the triotectionists.) Sir,
I hava never denied that such was my feeling. (Hear, hear.)
I have said before, and I now repeat, that I know of
no great improvement I might 'latest say of
rat 'great
improvement in this world, but cer-
tainly of none in trade or commerce, the
carrying out of which has nit been accompanied with
loss and distress to some class or other. (Hear, hear.)
Take a familiar example. Is it not notorious that the esta-
blishment of railroads displaced a great number of persons
from thee forme r occupations? Have not all who live at a
great distance from London been acquainted with great esta-
blishments which, hoviog once employed a Lumher of
people on the great lines of road, are now shut up, whilst
those who were engaged in than have been compelled to
' resort to some other means of obtaining a subsistence ?
(Hear, hear.) But would any one on that account
have stcppod the progress of railways? (lieu, hear.)
Now, air, I have stated the surplus to be about 1,600,0001. ;
and I c.nfess that, looking back upon what has taken
place in the course of the last two years, the first olitct
which I had in view was that of effecting some reduction in
our debt. (" Hear, hear," end cheers.) Ido not mean now
to iotrodues the great question of reducing a large amount
of the debt. (Hear, hear.) Hon. gentlemen are aware,
however, that by the falling in of what are called the ter-
minable annuities considerable relief will be afforded within
the next twenty years; and, in ordinary times, it
might be worth while to consider whether some
further measure of that kind should not be proposed.
But I will at present confine myself to more recent times.
I will not even go back to the proclamation of the general
peace, when measures were taken with a view to the winding
up of tke accounts of the extraordinary expenditure which
had been incurred ; but if hon. gentlemen will refer to what
has taken place during the last 20 years—to the sums which
have been borrowed on the one hand, and on the ether to

the sums which have been applied to the reduction of the
debt-1 think they will see p-ound enough for not making
any material reduction in the taxation of the cannery.
(Rear, bear.) To simplify the matter, I omit all question
of calling in annuities or funding Exchequer Bills, but pro-
pose simply to take on the one side the amounts of money
borrowed, and on the other the sums applied from
surplus income to the reduction of the debt. In
the first place there was borrowed, in 1933 and
1931, a sum of 20,000,0001. for the West India
slave compensation money. To cover a uceessivo deficiencies
upp 941, we borrowed five millions in that year.
Moret
the
o rec yeare_t.y l
,in 1847. I was obliged, by the necessities of
Ireland, to borrow 8,000,0001.; and again, when the house
refused the government proposition for increasing the
income-tex in 1818, I was reduced to the nece-iity of
borrowing to meet a deficiency and to cover an expendVure
which, though extraordinary an any one year, when extend-
ing to a series of years, as no more then ordinary, of
2,000,0001., making in the whole, daring 20 years of peace,
no less than 3,5,000,0001. of money borrowed. (Hear, bear.)
But, when I tura to the ether side of the question,
I find that all the money which, during those 20 years of
peace, has been applied from the surplus income of the
country to the reduction of the public debt amounts only to
8,000.0001. Se that during 20 years of profound peaoe
there has been an actual increase of debt of no less than
27,000,0001. (Hear, hear.) I confess, sir, it appears to me
that ttia is a statement which should make us careful as to
what we do in repaid to reducing the income of the country
by taking off taxation. (Hear, hear.) Wren in the
year 1849, tho house refused my proposal for an in-
creased income tax for three years, in order to defray
the deficiency in the income as compared with
the expenditure, I was certainly in hopes that they
would not instantly, the moment there became
a surplus, express a wish that the whole of that surplus
should be devoted to the reduction of taxation. (Hear,'
hear.) What should we thick of a private individual who
borrowed money when he found his income fell short of his
expenditure, but never thought of paying his debts when a
fortunate turn in his affairs took place? And, it we desire to
maintain that character as a nation, which, as erivate indi-
viduals, we bold to be indispensable, we should, in a time
of profound peace, endeavour to reduce our debts, and not
go cn year after year adding to them. There is ano-
ther consideration which you ought not to lose sight of—
there is a most important question which must, in the course
of next year, come under the consideration of the house—
vie., the renewal of the income tax. (Hear, hear.) What
may be the disposition of the house on that subject when that
question is brought before them, I of course cannot foretel •
but it is quite obvious that those who object to that tax
by pressing upon us the reduction of other taxes to the
extent to which they may be successful in effecting,
contribute to the necessity of re enacting the income
tax. (Hear, hear.) I feel that, under the peculiar
circumstances of the country, it is desirable that
some relief from the existing burden of taxation
should be given—(hear, hear)—and that, If possible, some
measure should be adopted which, to a certain ex
tent, at least, should relieve those who are now
undoubtedly suffering much distress. (Hear, hear.)
Now, sir, the first measure I shall have to propose is one
which I hope will be of some benefit to those who have b. en
represented—and truly represented—as amongst those who
are not the least distressed in this country—l allude to
the small holders of land. (Hear, hear.) I confess that I
cannot recognise that community of interest by which mea-
sures which may be required for the relief of this class,
are identified with those which have been claimed for all
parties connected with the land-owners, occupiers, and
labourers, (Hear.) I stated my opinion last year, and still
believe that so far as the occupiers are coact reed any re-
duction in the shape of rates that might be made, would not
be of permanent advantage to them, and that the result of
such a me sure would be that if a reduction of rent were
made by the owners of property it would not be so great as
though relief, in the shape of reduced rates, had not
been give., and that, therefore, the benefit of any reduction
in the rates would ultimately go, not to the occupier,
but to the owner. (Hear, hear.) I believe the
landlords would say to tho tenant, " though you are not able
to pay the rent you have hitherto been paying by ts. or 4s.
an etre ; yet es you have been relieved from the payment of
the rates which formerly were paid by you, in addition to
your rent, I will not reduce your rent to the whole extent of
that 3s. or 4s. an acre, but will deduct the amount you have
saved fa the rates. If the rent was reduced to the whole
extent, I admit that the remission of the rates would be a
practical relief to the occupier; but I apprehend no one ac-
quainted with the cultivation of the soil will deny that, ex-
cept perhaps for a temporary period, as during the
"
would relieve the occupier, it must he by a re.
111thlie llodwCnr,Orf,
and
lease, any
to , ytareedootucotipotn of
er tthieraart,eshistaaa benefit
. ltyotno
duction in the rent, or by improvements made by
the landlord in the land—(hear, hear)—and that
I believe is the wisest course for the landlord to take for his
own interest. (Hear, hear.) With regard to the labourer,
he has already obtained the advantage of cheap toad, and now
circumstances I stated at an earlier period of the session
all he requires is constant employment. (Cheers.) The
show, 1 think, indisputably, that, taking England through-
out, employment has been more general during she present
year than in the corresponding period of the previous years,
and I have no reason to believe that circumstances are likely
so to alter during the remainder of the year that, comparing
the whole of it with previous years, employment will
not be found throughout England (I am speaking of the
agricultural districts) to be more general. (Hear, hear )
I em equally convinced that, by an improved system of cul-
tivation on the part of the occupiers, a further impetus will
be given to agriculture, and the employment of labour be
still twitter increased—(cheers) ; and still more if that be
done which is the interest as well as it is the duty of the
owner—viz., the adoption of meteor's for encouraging and
promoting such improvements in his land, and for cheapen-
ing and encre.ising thee. productions on which, as I believe,
his welfare depends. (Hear, hear.) Of course sus h a re-
sult can only be obtained by an outlay of capital on the part
of the owner or tenant ; and, as the hon. gentleman the
member fur Bucks has told us capital can only be raised,

tho party has It not in his polemic; ek---'—..i'.-------"-"mbolerar7llllUtffearl
portion of the property or borrowing,
I fully concur in the statement that the small owners of lana
in this country are as much distressed as sty interested in it
—and that to any means which might be adopted by them
either for selling a part of their property in order to improve
the remainder, or for borrowing money ter the same pis
no ebetacle ought to be interposed. That obstacles do
exist to the transfer of small portions of land Wails country
cannot, I think, be denied. Hon. gentlemen are aware
that motions have been made in this house with r view to
exempt sales of land from the stamp duty under certain cir-
cumstaacee—and I recollect when each a prepositive was
made on ens occasion in regard to Ireland only, the lima.
gentleman the member for Oxford (Sir. Heal, y) obierved
that such a measure should not be pertial, but should be
made equally applicable to the whole country, (Heap
hear.) I fully concur in that view of the qufetinn, an
accordingly the first proposal I have now to make is, that
there should be a considerable reduction in t!-.e stamp duty
on the transfer of property up to the amount of lAN.,
and
above that amount that the duty should be made more fair
in its operation: e,.•osaehino as lieulie nq,ib'c
so
in
're" •
equable per centage. t•Ltar, hear. 3 !tut i ROW that
property under 1,0001. should be considerably reitaed
and to avoid the fractions in the stamp+ it is intended
to proceed by steps, as 251., 501, 1001, ,ee• I
pre
pose also to adopt a similar course v.ith regard to the
stamp duty on mortgages and bonds—(cheers)—t:“.c is, to
reduce the stamp duty on all such deeds given as securities
for sums under 1,0 01. ; and I am sorry to be comi,eged
to add that I shall have to make a proportionate lac, use on
larger amounts. (Hear, bear.) For here ktainthe existing
system operates most unjustly as agsinet the sms!br trig.
,actions, the rate of duty being exceedingly heavy for smell
sums, and exceedingly light for large sums. I proy,..,
to
make it as nearly equal as possible in all. (Loud eta, n.)
propose to go by steps in this, as in the stamp out,
on sales, commencing with 251., then going to 40‘.
and soon. There is a third item to which, I know, roan.
persons attach considerable importance, as connected win
the tenure of land—the granting of leases. I confess Ido
not attach so much importance to this matter as may where
do, but I admit that, in cases where the landlord i• ••ot dis-
posed to lay out his own capital, and the tenant is prepare,'
to do so, by obtaining a more permanent tenure of hi, Lo:ct.
ing, that facilities should be given for that purpose and
there:ore I propose to reduce the stamp duty on i• meg.
(which, on low amounts, bran, as in the other Ch,
unequally and unfairly,) to an uniform hall p.r rent
in all cams. (Hear, hear.) At present a keg,
of 201. a year pays a stamp duty of 11. Ipr •• that oft
leases not exceeding 2.51. a stamp duty of 2s. I,i. ud ha
charged, and that on knell of 1,0001. and ut,ward • then
should be an ad eolorens duty of a per cent. (Hear., I row
come to the agricultural !stoma r. I have stated t.:at what I as
most anxious to provide for him is employment, and tat can
only be secured by enablingtheowner oftbeland tores•em.r.ey
• in one way or the other for the imoroy meat cf his estate.
But there is one particular is whim. by legislation i think
we may improve his condition a.,d comfort in its small de-
s gree, that is, in the character of his dwelling. (Loud
cheers.) I might here refer again to the Gocument
of which I have already spoken—the report of the
I commission appointed to acquire i••to th, law ete.
r tlementa, as well as to the mischievous effect t•• /dueed
f on the condition and morals of the latourer, by the present
• law of settlement—but that is not the qutatiGn
we have now to deal—as the deter,orati..d ets c• ie phy-
sical condition and moral character, AT d that o! I'. ~.mi:y,
I of the dwellings which he is comp, li• dto iobal,;:.
• I never was more struck than by the evident chi ': •l••re
appears in detail on this subject. I know it
aible to build good cottages for the poor and oh•ain a,,-•,uate
• interest for the outlay. I believe that many lad) r•:- • .ro
f expended money In providing better doellido p
t labourers which pay fair interest ; Lu• it is to
expended.t ez
therePeetitehat
Whether that
othutrenatoirenannittbsseekriat'art‘;:vinc'opTii:sabtreelldr.::nrr..;:i::::::;:::tl
) under all circumstances is a matter of daunt ; but
; certainly we ought not to impose arty
a stacle. (Hear, hear.) My honourable ermnd the ctr.i.er
t for Montrose submitted a motion the other day : r !•••
a allowance of a drawback of the duty on bricks r:r.p••••p• •a
r building such cottages. I need not here repeat tie . c.
t Cone I thin stated to that measure, and to drat,' e•-•.•
, general; but I may say, that I believe that re.., •!,.3
• mode he proposed, would be utterly Lat
a there are other considerations attaching to this outier.. 'ism
t use of bricks is n-,t confined to the bueldiag ot c.,l•.gee f.r
r the pone, hot extends to other purposes equally hen.
. them, and important to the health of the country. N •••r.
am prepared to concede the total repeal of the diary ' e:ca,.
I (Loud cheers.) I find that this sub), uccupied r.-
t Lion of the House of Lords' committee on to. .r-
-_

dens of 'And, end they state in their ...r;oor
the removal of the duty on bricks Irettli act nniv

the more rapid impro;ement of real prow
th,ir vicinity, but what is Walla' re impor: u

for!' of the poorer clam, imp!: v'

habitations." I believi tlat,rin rienticat ot
which I consider of paramount impartane.:..
this duty will have no inoonsidtrable eft •••
agricultural improvement. Ile taxis or.e
tarts operation, for it is not of universal applir.ei
parts of the country, as in the district where I rc
build of sane, and have nabrick duty to pay :

Ir.y
lei
mlny

other, and more especially In thosesitiit. I
to be most distressed at pre ant, 63 _
clay *oils and in the eastern etnntier, wt. V 3
it is admitted the distress is very s, v.! . • r.e

buildings are almost universally composed cf r.,:t Ile
repeal of this duty, therefore, will be of great acs. -B>e :7
the landowner in such districM, in enable g hint to ir • - re
and add to the present :armbuilding,. Meer, he r I
i know not if this s one of the Improvements contem...t:e

the hen. msmbtr tor West Surrey, but I believe
rely admitted to be most advisable to rttea•.t
. . .

accommodation of farms in this respect, and in wt
agricultural improvements may be named uut, I
wi!l be necessary Lurely to increase th.
inns. (Hear, near.) I know of
which I can onstribste to th

r

effectually then by this r( (
Now, sir, the amount of loss to the rev. -ce

pate .froit these two proposals is—cn 't • 0 p
little wider ; and bricks, 450,0001., or r ..1.

c', • Ira
(II: -J

together a total lou to the revenue of

•. • . ; . a
•?. malcag
m+n-

be'rs will °teem that these two items 01 3:ae II:"

:• !".111
r 1 ca.

the sum which I anticipate as surplus for the ye...
tainly was not aware, when I came to the de:,
divide the surplus between resluvion .•: itb. a: r • .on
of taxation, that the surplus was not larger than I: is : hut,
in any case, I think it a fair arrangement to apore:ntato
one half to the relief of taxation and the other to thr r• •lue-
don of the funded debt of the country. (Hear, tea r Bat
hon. members must not suppose th 4 tho amounts hive
specified wil be the only relief from taxation which the people
of this country will receive in the course of the preset t esr ; b
cause by the operation of the Ws- inc Sager Act the duties on
certain closes of foreign and colonial suga.s wili be re-
duced from the s:h of July tem. affordirg a to the
calciume r, taking the average sf the country, to the extent
of 3.50,000/. Therefore, the actual relief to the people of
this country well be about 1,100,0)01. (Ileac, tear. I
have another measure to propose to the house, to which I
confess I attach considerable importance, and which ts, in
my (Tinier, calculated to promote what I consider t t h • of
paramount importance at this moment, I mean a measure
tending to ilciitate the outlay of capital in lard. ,
hear.) I believe that ro be, not only an aericultur .l, hzt
a sati• nal object. It can answer no purpose that any great 'Al-
tercate! the e..untry should be ..lestroyed std., it is sten-
tial that the food of the people should be cheap, it is 't ',vial
Importance that that cheap food should be grown boom,
and not abroad. ;Cheers.) If, then, as I believe it may !a
done, we can, by facilitating the outlay of capitol on land,
and by stimulating the induery ant skill ot the 7*,
increase the amount of production at home, I is, lie se that
not only will the agricultural interest be benefited. but that
the interests of the entire people of this country he ad-
vanced. (Cheers.) The proposal I intend to m the
house is to do that which was dons in IS4O, name's, no ...se
advances for drainage and for other land Morro e,..e.:. 'o'
have the most satisfactory accounts es to the titre..• or
duced by the advances already made, not only in
couragement and employment of the labouring p p
during the time improvements wore in progress, t
the profitable return made after those improvsnt,i
been completed. It will be unnecessars so
to go into any details upon the subject
could read, as I have done upon former of
in reference to Ireland, letter after letter trom psfllsr
have taken the money, Mating how beneficially the alvsiees
had operated in the improvement of their estates. Bat it
would be uselessly taking up the time of the how -the
advantage is confessed on ale hands—and it is thercler: :hst
I propose now to make similar advances for the fa'-'' pur-
pose, and I am willing to believe that the pecun.sry assi-t-
-ance derived by agriculture will not be confined t • the Aci•
vances made by government, but that other parties w li,nter-
tain propositions for advances, and the knowledge dr. st.ss • ffl-
ment is about to come forwardwill uo doubt act as an d lir: •nal
inducement. The last advance for these purposes to Eng-
land and Scotland was two millions; and certainly the c. -.-
denten on the other side of the Tweed showed a very to.r
amount of readiness to avail themselves of the chance, for cut
of the whole they appropriated in c snsequenc• of priori,y of
application no less than 1,600,0001. (Great laueht.r 1
The sum appropriated to England was 372,0001.; the balance
being reserved tor any unforeseen demand that might occur.
I prop we now to advance the sum el 2.000,0001. to Enels-d
and Seo'land, but I hare thoug`.• it only fair to reserve for
Eugl innt an opportunity of setting herself square wish
the sister country as to advances' and therefore, although I.
do not mean to refuse to Scotia, d what England rime not
want, I propose, in the tirot instance, to reserve en Coal
sem for each country. I prop ac to advance t' It. I.vbi 3
similar sum of eno Wllion, hut I do not prom, that it
should be entirely exhausted in land improvement,. Ire-
land has already had for land improvements, I e rho •-•01
of 1847, one million and a half, and by the bll of 1549
300,0001., makieg in the whole 1.5 0,0(101. I pr,pofe to
add 20(1,0001, making up 2,0t.)0,000/., and thus pudica
Ireland on au equal footing with England and Scotland.
But there in another purpose for which rdvarees cosy he
necessary in Ireland, and which, in my opinion, is still
more imp wtant than land improvements-4 wan what is
called arterial drainage. (Hear, hear.) I belt. re that vast
improvements may be effected in Ireland b ans of
arterial drainage, and I know that large works of that
nature have been commenced, which, for their cow,
will require a sum of SfiS,ooo/. A cortaid, table portion of
tho money required for them works has 11,thorto b eo sup-
plied from private sources, but, through recent enruT-
stanees in Ireland, these resources here fallen off • worn,
have been checked, and, in consequeoce of the here
suffered great injury. Great aud.tienal expense
incurred. a .d much trier and other dimwse have or:
the vicinity of the works, in consequence of their ineome.llem-,
nese I believe that no greater benefit coal/ rect., t.
land than the completion ot them works, and for that remelt,

.e CI-

wationo,

I