The British Press; or, Morning Literary Advertiser.
London, England, 1822-02-12 00:00:00

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nadir with fleets which revered every sea, and salasirnes
which were received at every Court, were till then nem. .
/lOWA ; wither were we free from disagreements and dia.
I lemma at home. He had no objection to take the mat esteem. '
Vivo yammer the contest, the years 1613, 1814, d 1815,those
Imud
years of most incsalin tic expendithee, those which had hies
; moat evidently alluded to by the Fioanre Committee. Would
1 the House think that its this very year,at this very mum ut,es
much in taxes was wrttng from us as ha lhOse yeses, for
1 the value tapper at that period wits to lie measured by what
1 the price of gold then was? It had then attained a price
to the liserleet of fol peramice, involving a depreciation of
Ilse eurrecre of 281 per oast.; anu if we reduced the no-
Ini•al revenue of these years 811' Millions in that ratio,
it would he ueeessary to deduct from it arcuty.three mil-
limn sad a half, which would Icing the. terecnc for the
average 4 these years to •isaraine millions. at-par, which
eras rums sly the sons that Orr Chancellor of the Exchequer
pm now hematite he raised at the rummy. No asaw could
' aseue that the proceedings of the Committer of IBto, were
-tier meta came of the chaser in prices which bad sines taken
ghee! but me !Ertel was ourleniahle, that theaterket price
4 mild basing been then 41. Is , there was slava deprecia-
tiun ii. our esstreney at the same period of six tad one-third
,wer rent. Their ceterntious took away thet depreciation,
and we.re, I herefore,fairlycharieshle with producing a rise of
taxation to the arnowit of hearty 4,000,00 W. and this Stilt pre.
seeding that they were going tn raise 1 betbaes,athea tlwayweold
nut my 11tat, they were going to raise them ; for, uthearsUees to
tell, this was the very time iss which M in istera,supposted by the
Howie, imposed three minimal inure taxes on you who be.
fare lay, crushed to the earth —(Hear, hear !I—Tbsty did all
wilds too in the dark, uncertain where or how deep the blow
wonIJ strike, for though a person might elan predict
that it would he attended with a role of taxation,
yet no Mad could say lota much the increase would
1r ;, yet that was the very time In add theta minima
,mitre to the !Withal' burdens, as if so /intense of
few were nil enough. Ile wished the •.4Pouse to keep
constantly is vie* (het he was proreeablig without any
etfermsee to those points in which he 'trim unfortunate
'easpugle to differ front many must reapectableAlatiemen, of
.)50, some had been Members of that Combaitice. The
flows would beer in miud this nearly four without' of taxes
ball ftems laid on the couture iu consequence of the &Praia-
' tiros of the comay of former years ham; beta removed,
. thaugh the amount was nominally the same. Ile was aware
th4t • ifaf fence vropinto? existed as to the effects of taxation.
tie Arnold nut slap to examine the strange doctrines which
i• had brie held uu the subject.; some of than refuted them-
ochres. Dial, in' the lest place, he thonebt it clear that a
'reel expeudituie tat the capital of a emautry by a covntry,
lad the necessm-y effect deeming prices, •nd that net more
denim the lime the expenditure was gning on than after-
wee& ; because when &government spent flame large sums
• Of money, it either tuck them from the anearne or the 'retinas.
'haled capital of the country. If from the income, it prevented
the accout:alien of new capital, and therefore destroyed ea-
pitch to that mamma': he elnl not mean a physical destruction,
some of it yet remained ; but, at any rate, it was a great de•
sauci ion. The consequence alibis was, that the capital which
remained being diminished, the pi ofits•uf that capital were
pro,ortionably increased. For it Isis a rule as old as poli-
tical economy in Europe, and ethieh hardly required de-
?monstration, that the profits of stock are greeter or leas
in the i proportion of the amount of stock. Gorse.
*pettily she diminution of the capital stuck of a country had
the immediate effect of rAisiisc priers. Those who regarded
taxation must favourably would he obliged,he doubted whether
Ibis very guardian angel of taxation—(4 laugh)---nrouldnnt be
obliged to admit that if a tax were inips,ed on a people, the
people were injured in proportion to the amount of that tax-.
Bot there was another 'effect of taxation which operated
more than any other, and to It be requested the particular
attention of the Huu-s. When a tax nag kid on I certriirs
commodity, the peritou who used that commodity in his trade
as bound either to increase his capital or diminish his
treesaatiods. To effect the former a larger 'capital was re-
!mired Ifs meltiter, instead of a duty of 10, 61. a quartet
nn malt, were obliged to pay successively 12s. 18s. and
345. a bushel, as be did in the war, though it now stood at
285., the consequence of his paying Ills. instead of 10e. OJ.
nould be, that be must enlarge Isis capital to carry
nn the same trade. And what was the enosequenee of that'
The necessary rousequente most be as excludosi from trade
df smaller capitals, the larger capitals would be better off,
bur the public would not be better i.fr, fie the competition
ailsinZ from small capitals would be taken away, winch wit
the only check ria the exorbitant mai, it the lane. Here
wee a steady effect of is :casing taxation ill raising rices;
, and he recollected that wherever Tallithim)l thought of
taking off a heary•tax, r... Ins!anre, that on leather, petitions
'lowed in from iatdirldnals oho deprecated such a measure.
" Depend on it," said they, .. is a ill be injurious." The ap-
plicants against this particular tax were the farmer*, the
small tanners, and small dialers in leither—the opposite
party was the large tanners mid dealers, wise did nut care
one farthing fur the otters; nay, not only dad nut care
for them, but were intereated in destroying their dealings;
and he believed if ill such counter-petitions eee looked
auto, gluey would he fonnd to come not from cousumera, hut
produces. Another drat of taxes was, if possible, still
more pernicious: they raised prices and dinriniehed coo.
sumptiun, not merely lu the retie of the sum levied and paid
to the Mate, but In a meth greeter one, for each person
on whom the las was laid rustle the consumer pay out only
what was raised front hinnelffor the Government, hut some-
thoug more; the consumer paid not only alukt Went into
the public Treasury, hot what (hi produces lost by ineressim
his capital, and the dimiuutioo of the demand. This held,
whatever number of hands the article passed through before
beam purchased, and in a greater degree. The tax west on
Iva 'permeatesl progression, invonsuch, that when the &e-
-lide reached the consumer, be very frequently could not tell
what the Government required of the price. It them appear.
ed bow taxation operated, not only in what was taker' out of
the palm!, of the people tribe thrown into the Treasury,
bat when they saw moat more taken from the people than
Goverommit ever got. So that suppose a landholder, .hen
taxes were mile righters millions, lived comfortably on
tea thousand pounds a year, that would fall very short
when he waeobliged to pay his proportion of 80 minima,
flot there were other items of charge which affected him in-
ealeulably move. First, be suffers na•re at a canninatre, neat
as • praiducer,beeanse the expense of cultivating his laud is
advanced epos him. It was ahead In mention the quan-
lily of /notary takes from him and paid to the Grarnment
as the ineserre of his loss, because his income was most
sensibly diminished in two other ways; be pawl mach more
as a consumer, he received much less as a grower. In his view
the premaire of taxation was to be emanated by the gross
tweamite of its brothel upon all, and out by its difference of
- ream. oa different Maras. Nevertheless the firmer was
the perms on whom the retinae fell with the greatest
weight. Of those ientivithsals who had lowered their rents,
betentlel out bat speak with the greatest respect ; their mo-
tive. were vomit humane and laudable-rat at the same
time he could not but record their experiment as a most
inadequate remedy for the evil. The farmer complained
That has wheat bad fallew ?As. a qaarter; but Ire would take
it at 10s. a quarter, and talcum the produce of an acre to he
three warners, he complateed of a fall in the price of his-
wheat of 304. an mire. Whist remedy is afforded to a man
in this situation bye lowerinethis resat? His whole rent,
• taking a •gesseral average, was ant 30s. an are. His
landlord offered a reduction of 20. 25, or 30 per cent. mad
was much surmised that the farmer was soot satisfied; bat
Joe surprise wootd cease if he red, cred that the cause of his
reamplaint amounted to 120 or 13', per cent. He did say
- sitbat.lb or 30 per tett. was too moth hie the landlord to give,
' .bat it was ma relief to the teems,. Hr VernitalDelided a fell
• es t NM, if any fall, proportioned to the circumstances
mitenteh tenant. If they could find oat any means by
. rarbieh they could diminish the price of cultivation 30s.
ram acre, that would he a more true relief than by endeavour-
. timg to keep op the price of prodwee, nr lowering rents. ors
laberhalasee of ereellllll4 it tame to exactly the same thing
marifiengrer alma were tumid to raise the price of Ilse arm-
miraiihoy y allniag that he iieid to be impuesmie, ma if it were
unable weald bc &eat it advisable. The Legislature
imam Aims back gave what was ennaidered in those days a
•Isie 4entulserairsig price, and property did so, bi cause
the - lose for kmerirg the coal of production was (hen
OMNI. not let slims; aver think of raising the minimal
,prea• It was hardly • seeeemery •for him to remind the
Hamm of the rim in the coat of mtricattural predate-
Mos. The Agriewttaral Ward in 1014, -towed -a rimier