Northern Times.
Liverpool, Merseyside, England, 1860-02-17 00:00:00

THE BUDGET.

The following letter has been addressed by the Chan.
cellor of the Exchequer to Mr. Glyn, M.P.:—
Downing-street, Feb. 16, 1860.

My dear Mr. Glyn,—l think the suggestion which
you have conveyed to me that contract notes, like re-
ceipts under 405., should be exempt from stamp, is a
very good one ; and it likewise seems clear that the law
should bo so altered as to permit the transactions which
are known as Time-bargains.
I will avail myself of this opportunity to mention cer-
tain points chiefly, though not exclusively, with respect
to such of the resolutions now before the House of
Commons as impose what I may- call collectively, for
convenience, the new penny charges.

1. These resolutions differ broadly from those which
relate to the imposition or removal of Customs duty
with respect to the time when they take effect. For
immediate practical purposes the former have the
force of law when the resolution itself has been
adopted. The latter will have no effect whatever
until bills shall have been brought in, shall have
passed through all their changes, and shall have re-
ceived the Royal Assent.

Indeed, as most of these changes will be laid in the
form of stamp duties, a further interval for the prepara-
tion of the stamps, and for various executory arrange-
ments, will in general be required.
Even the preliminary resolutions themselves cannot
be proposed until . the greater questicms of Customs and
Excise shall have been submitted to the judgment of
the House of Commons. In this part, therefore, of
the subject, there is ample time for the consideration of
details.

2. It is likewise important to recollect that, from
their nature, all those resolutions which contemplate
increased or new charges cannot in general fully explain
the measures of which they are to be the basis. The
salutary rules of the House of Commons require that
for the greater security of the subject, all new taxes
shall first be submitted, not in the shape of bills, which
admit of clear and full detail, but in the shape of resolu-
tions, which are intended to state the general outline
only.

Unless this be borne in mind, such resolutions must
of necessity create uneasiness, as they cannot set forth
the exemptions or the modifications with which the
application of the general principle is usually accom-
panied. The place for the consideration of all these is
the subsequent committee on the bill. It is, on the
other band, necessary that the resolutions should be
drawn so largely as to include everything which might
come within their range; for by the rules of Parliament,
as you well know, charge may be limited, but cannot be
increased or extended in the discussions on the bill.

3. I have no doubt that in the adjustment of these
penny and minor charges we shall find many details
requiring consideration. At the present moment the
course most favourable to the progress of public business
would be that those gentlemen who are immediately
concerned, should, if they thought fit, make known to
me, in writing, the modifications which they may think
most necessary, and should set forth whatever they may
think the extreme cases in which the application of the
general rule would be productive of inconvenience to
trade.

I should thus be enabled to bring together the results
of much general experience, and should be prepared to
enter advantageously into personal examinations a little
later.

4. With respect, however, to one or two of the mea-
sures I may mention the general rule by which the
Government intend to be guided.
(a) As respects the registration due of one penny upon
imports and exports, I compute that its average amount
will be about Is. 10d. upon the hundred pounds, while
it will be levied off the ships' papers. In particular
cases it will be lower and in some others higher but
speaking generally I should regard per cent., as the
maximum, and I do not think it can be found neces-
sary for the purposes of simplicity of adjustment in
any case to carry it so far as to make it equal to one-
half per cent. I anticipate from it a material improve-
ment in the statistics of our external trade. In fixing
the details of the charge we shall have to consider the
number and complication of the entries, as well as the
values of the goods.
(b) In the charges upon certain operations performed
with respect to goods in warehouses, the Govern-
ment stand upon a two-fold principle, just, I think,
in both its parts. The first is, that the very
heavy cost of the warehousing system to the nation,
as it is connected with certain operations, espe-
cially upon wines and spirits, may be equitably
reviewed, and moderate charges imposed upon such
operations in relief of the department agains tthe cost
to which it is put. The second is that by mean et a
charge on removals we propose to lay the ground for
system of Inland Bonding on principles which will be
fair and equal as between inland towns and ports which
have the privilege of warehousing with respect to
articles that they do not import. As to the particular
rates to be fixed, I think that they will require to be
considered in detail.

(c) As respects the proposed charge upon contract
notes and dock warrants, we shall have to consider
carefully the definition proper for the first with respect
to the ordinary course of trade ; and 'as respects the
latter, I have no hesitation in saying that if we find the
charge of threepence likely to amount in a large number
of instances to a serious burden, we shall not hesitate to
reduce it.

b. Leaving the subject of the new or penny charges,
I subjoin information which I ought but for the pres-
sure of other matter to have conveyed on Friday night
with respect to certain articles subject to excise at home,
which are to be imported from abroad on altered terms.
The proposed changes will take effect for the foreign
article only at the time when the duty on the domestic
production is reduced or removed. The duties of Cus-
toms will not be removed from articles of paper until
the first of July ; and the duty on foreign hops will not
be reduced to 14s. until the first of January.
b. Lastly. With respect to desires which have been
expressed in various quarters for further changes in the
French Customs' Laws, over and above those which are
comprehended in the treaty. These cannot, I apprehend,
be made the subject of any communications which can
affect the course of Parliament with regard to the
treaty itself. But inasmuch as the Government have
proposed to Parliament various measures favourable to
French commerce, in addition to those which the treaty
contains, they will, if those measures shall be adopted
by Parliament, feel no difficulty whatever in making
representations to the French Government in support of
any demand which may appear in itself to be reasonable,
so far, at least, as to recommend it to favourable consi-
deratior.—l remain, sir, yours sincerely,
W. E. GLADSTONE.
G. C. Glyn, Esq., M.P.

LATEST BETTING.
TATTERSALL'S.
ME DERBY.
12 to 1 agst Buccaneer (t) 1000 to 15 agst Horror (t)
I
1000 to 25 ... Sir William (t)

MANCHESTER BETTING.
LINCOLNSHIRE HANDICAP.

9 to 1 agst Julia (t) 1100 to 4 agst Tommy Noble (o)
10 to 1 ... Ambush (t f)
LINCOLN GRAND STEEPLE CHASE.
3 to 1 agst Adianturn (t) I 4 to 1 agst Goldsmith (t)
BROCKLESBY.
3 to 1 agst Little Lady (t) 4 to 1 agst Lodiac (t)
CITY AND SUBURBAN.
100 to 7 agst Chere Arnie (o, 125t0 1 agst Oliver (t)
200 to 13 t) 33 to 1 ... Comforter (t)
20 to 1 Andover colt (t)
CHESTER CUP.
25 to 1 agst Birmingham (t)
Lincoln Races take place to-day. Nothing done on the
events net named.

[REUTER'S TELEGRAM.]
WEST INDIA AND PACIFIC MAILS.
ARRIVAL OF THE PARANA.

SOUTHAMPTON, Thursday Night.
The Royal Mail Company's, ship Parana, Captain
Woolward, has arrived with the following dates:—
Santa Martha, Jan. 22nd; Greytown, 16th; Cartha-
gena, 25th ; Colon, 23rd ; Jamaica, 27th; Jailemi
`2Bth; Porto Rico, 31st; Demerara, 25th; Trinidad,
25th ; Barbadoes, 27th ; Granada, 26th ; St. Vincent,
26th; Lucia, 28th ; Martinique, 28th; Guadalope,
2.Bth ; Antigua, 29th ; Montserrat, 28th ; Nevis, 28th ;
St.. Kitt's, 29th ; Fortola, 20th ; and Thomas, 31st.
The Parana brims in all forty-six passengers, specie
amounting to £466,289, and a general cargo.
The Parana experienced a prevalance of southerly
and favourable winds on the voyage homeward. She
spoke to, on the 10th, a Bremen barque, showing No.
79 on a white flag, steering west, in lat. 49 44 N., log.
38 28 W.; and the American New World steering east,
in lat. 41 48 N., lon. 36 2 W.; and, on the 11th, in lat.
44 28 N., lon. 28 20 W., the British barque Stately,
steering cast