The Sun.
London, England, 1852-05-01 00:00:00

Venue, and that, within the merest trifle, the whole of that
lam had been made up by the increased consumntion.—
(Rear, hear.) But the Hon. Member for Huntingdon had
!aid, that if we put into the pocket of any one 5/. every year,
it Was no very great matter if at the end of ten years we re-
ceived back a present of 10/., or even 11. or 21. during the
tit"- The Hon. Gentleman seemed to think that that was a
fLir representation of what had taken place. Bat was it so ?
The lion. Member said, that since 1846 the Government had
bad 5,500,000/. of income-tax. But had the whole of that
/outcome to credit? It had not. 41,000,000/. of it had been
employed in making up previous deficiences. He held in his
hand a return which had been obtained by his Hon. Friend
the Member for Liverpool (Mr. Carwwell), from which it
appeared that the deficiency of the public income in 1812
!es no less than 3,979,000 e, while the income-tax imposed
raided only about 5,600,0001., thus leaving only an avail-
able sum of 1,600,000/.—( Hear, hear.)
Mr. T. BARING.---But that was only for one year.
Mr. GLADSTONE. —But that was the first year of the
system. And then his Hon. Friend spoke of these great re-
dactions as if they were recently made; but the fact was,
that the great bulk of these reductions were made in the
earlier years of the series. The whole amount was
11,000,000 e odd, but it was found that 7,000,0001. out of
the 11,000.000/. were reduced before 1845.—(Hear.) Then, if
pia Hon. Friend would compute the period of the year during
Retch these reductions had been in operation, he would find
that this reduction of 7,000,0001. had been in operation dur-
ing 1845- The income-tax, too, it must be remembered,
did not at first come into play for the purposes of relief from
taxatiou, except to a limited extent. But the whole of the
reduction of 11.060,000/. in the elastic portions of the re-
venue had been replaced by the increase of the commerce
and trade of the country.—( Hear, hear.) In 1842, when
the income-tax was imposed, the revenue of the country
'Way 47000,0001. In 1845, when the new commercial sys-
"oe had been in operation for three years, the ordinary re-
ve,ue of the country had so entirely recovered from the
effects of the reduction that it amounted, without the income-
tar; to a larger sum than in 1842.—(Hear.) In 1845, when
Su
R. Peel made his financial statement, he gave th e
...`4lBO the option. Ho said the income-tax had done its
'Work, and that the system of legislatioa connected with it
ll:tight be abandoned.
He gave the House their choicceobe-
tween either continuing the income-tax, or stopping the
neercial legislation begun by its means. The House wisely
chose the former alternative, and the results they saw in the
figures before them. It appeared to him that the Right
Gentleman (the Chancellor of the Exhequer) had,
in justly disregarding any momentary advantage which he
plight have gained by attempting to meet the wishes of one
class of the community, or in giving a reduction of taxa•
tion which the circumstances of the country did not justify
him in making, pursued a course which had entitled him to
Public approbation. Nothing could be *plainer than that
the connexion between our commercial and financial policy
was such that Parliament could come to no decision
upon the one without the other. They were now looking
to the verdict of a new Parliament as to our new policy, and
when we reached that full and final settlement ay to our
commercial policy which we expected from a new Parlia-
ment, the time would also have arrived to deal with our
future financial policy.- (Hear, hear.) The Right Hon.
Gentleman not only deserved credit for the clear and able
statement he had made, but the higher credit due to him
for the wise and prudent course which he had adopted, and
14 which he deserved every support, in supporting the re-
venue and credit of the country.-- (Hear, hear.) He en-
tirely agreed with the Hon. Member (Mr. Hume), that it
WAS the duty of the House to see what remissions of
taxation could be effected, but that it was not the duty
tf the House to anticipate reductions in the expenditure
'which the finances of the country would not justify. He
:!,a1 sure that the House would rally round the Right Hon.
e/augernan to repel any such demands, and to carry on the
"aecee and credit of the country in an unimpaired, healthy,
utd mind state until another Parliament should be in a con-
dition to give a full, fair, and impartial consideration to the
84hiect.—(Hear, hear.)
%lir. BAILLIE said it appeared that the total loss to
e revenue from the reductions alluded to had only been a
little more than 1,000,000/. [Mr. GLADSTONE —" No, only
uy,ooo/. or 200i0001."] But toe Right Hon. Gentleman for-
Lurest during that time the population had increased
millions, and that there had arisen from this cause a
niderable increase of consumption. For example, there
„‘u been no reduction in the tea duty, but during the est ten
,"1111 the amount received from the tea duties had increased
we-third in amount.—(Hear, hear.)
eitte WABLEY said that the Chancellor of the Exchequer
shown how admirably the commercial policy of the coun-
1Y had worked since 1842, and he admitted he deserved
?edit for having done so. But there were Members on his
'i'sua Opposition) side of the House who had through much
;et" consistently, zealously, and honestly supported that
`197-- (Hear, hear.) There was another party, no doubt
euicere and as honest, which had vehemently condemned
4:at policy, and first and foremost among that party, and
04 e most eloquent of them all, he placed the Right Hon.
Utleman.—(Cheers.) They had now brought the Right
Vit ue gentleman to acknowledge, with a candour that did
eetri infinite credit, that all that they (the Opposition) had
eetti doing had been right, and that all that he and his party
ZAti been doing bad been wrong. Would to God Sir Robert
reel had been alive, to listen to the elaborate and profound
nnage paid to him by the Chancellor of the Exchequer in
j,, e exposition of the facts that he had submitted to the
°tele to-night.— (Hear, hear.) Homage of a more exalted
ir erecter, or more calculated to increase the admiration of
.4.1, country for the memory of that great statesman
"4 never made either in a senate or any other assembly.
Hear, hear.) The Honourable Gentleman ( Mr. T.
teiVi4), it was said, was to have been the Chan-
k,s"r of the Exchequer of the present Government; but it
;Mired from the objections he had made that the country
14(1111d not have gained much from him, because be highly ap-
-11,11.°.„ed of the do-nothing policy of the present Chancellor of
i4°-tachequer, and the country would therefore have had
E athat Hon. Gentleman a do-nothing Chancellor of the
seikesluer. The Hon- Gentleman maintained that the agri-
tttieral, colonial, and shipping interests were suffering, and
'0 would do nothing for them. 'I he Chancellor of the
inneeequer, after having marshalled and re-marshalled his
ah 7. gave the word "As you were !" He had, indeed,
flea Owed out something for the future, but he (Mr. Wakley)
neenot like the shadow, and fancied he should like the sub-
7;e less.—(A. laugh.) The Right Hon. Gentleman
se.zu‘roitichreet taxation, but was not favourable to direct
teeZt u• Now, he (Mr. Wakley) infinitely preferred direct
the When the people were directly taxed they knew
eirecieect extent to which they were robbed; but when
.in-
te blazes were levied on articles of general consumption,
tee erevernreent accumulated an enormous revenue, and
t?whPeeopwleoulsdcareely knew that they were robbed at all.
ask of the Right Hon.. Gentleman was that
oold(1111d Pursue that odious phantom no further. He
htlit as. Etre him that he was mistaken as to the unpopu-
-1418 Zko..f a property-tax.—(Cheers.) What was unpopular
Plc+ saelo" income-tag, which taxed the fruits of industry in
in h* • PrnPOrtion as alized property and also the manner
hia,:vuo-elril. the law was crearried out.—(Hea, r, hear.) From the
!laved, to which the Income-tax Commissioners had be-
linpoet 1t might be supposed their desire was to get rid of the
htlee_e 1.1 tormenting the people until tt became intole-
eim „for torment them they did in the most unjust manner ;
to (I:,,the income-tax were continued, it would be necessary
eterterlel►4 Berne means for relieving the people from the
uorning processes to which they were subjected by these
issioners.—(Hear, hear.)
ksteiie.W- WILLIAMS complained that the Chancellor of the
4600 finer had reduced the surplus of 2,100,000/. to
*447, 1•, and did not propose any reduction of taxation. He
debt `4,l2:direct his attention to the interest of the unfunded
Men'e euieth was at the rate of 21.55. 7d. per cent., while
%a e, 111 the City, upon the same terms, only obtained three
wr° Per cent. The present premium on Exchequer-
Right ass 150 Per cent. on the amount of interest, and the
130,0010 n. Gentleman, by reducing the interest, might add
sir `.41. Ino_re to his surplus of 460,000/.
rieea,."• TIRELL thought there was no reason for the g100e13,."°4
oe13,."°4 of Hone Gentlemen opposite, for the budget was
Clew t„ Provisional one.—(Cleeers and laughter ) The
the
cesoeuor of the Exchequer had said that the finances of
eaido
th ntry were in a prosperous condition, but he bad never
two „at particular classes were not suffering distress. The
things were not at all incompatible.—(Hear.)
tesVouel SIBTHORI' confessed that he had experienced
iti",-,iderable disappointment at the statement which the
essut Hon. Gentleman the Chancellor of the Exchequer
z_l?lttde to the House, and he was fully justified in cherish-
;lthat
"glee disappointment in consequence of the cheers that
frem the opposite side :
Timeo Danaos et done ferentes."
not place any reliance on the admiration which
-;',9 Would
eY had shown with regard to the statement of the
Right non.
Prosperity ofth Gentleman.eo He (Colonel Sloth ) denied the
orp
had made in untry,_...
(Laughter.) From inquiries he
honour of variouseensultae'erovnicial towns which he had the
he had ventured to sipsp was fully justified 'en the opinion
by the intimation that theai—(Hear.) He was disappointed
He would almost say it wasne°a retax was to be continued.
and of faith to continue it;
he would protest against it, whenever he had an oppor-
tunity ofvoting he would vote as strongly as he could against
it—(1014) It was said at fitrhset;Teco tit was only to be in
threeoation for • a short
ear, and
were three years, and
aindinnoa,mt
vastaymh?o, w long it
hre years, and one year, and the
'Wee to continue
Ruaticus expectat dum deflaat
sir. Labitur et labetur in omne volubilis
comparing the epeeer
with
the
the Hon.
eeetr- REYNOLDS said,
p e
appeare speech o f
"e,, d Gallant Gentleman. who spoke last,
the Bon. Gentleman who preceded him, there di:na
tt? be perfect harmony on the other side of the Him::
Gen-
tleman on that (the Opposition) side of the House, Free-
traders, had received the speech with much satisfaction, a'ney had. a right to do. Now, he recollected reading a
Pesch of the Chancellor of the Exchequer delivered before
8o the
Reynolds) had the honour of a seat in the House,
then taking the Right
Right Hon. Gentleman,
h/t°,l Baronet the Member for Tamworth to task, said he
thel:found the Whigs bathing and had run away with
4-'l. °talus. That observation excited muc Hon.
Gentleman time, but it appeared to him that the Right Hon.
eile'erman found the late Chancellor of the Exchequer.
v`ng► and run away with his budget. The Right
on.
Gentleman had put his figures in consecutive order,
pd aS far as that went his statement was unexceptionable.
e praise of it stopped therfe • and he must say that
tilithe,:teduiheltiszeacis
hrhermiLrkeraebasleed 'r
two qualities, that it
°taxation. He appeare.d
peellaaje followed the pathway tracked out for himhyHohn".
leetleeenB.,"l. Now, it occurred to him that the Right
-,erveet the
might have diminished taxation, and have re-
'he r,„..wee labouring classes without doing any injury to
for Chveseesors of property. There was an item of 650,000/.
Ca,-e Murderous warfare carried on
.against savages at the
entre'bei' the accounts of which no Christian could read with-
Rarnu that his country should carry on such a
deeeLrear, hear.) Then the Right Hon. Gentleman put
ateinee°o.oool, for the militia. He (Mr. Reynolds) had ab-
Mietiee from voting on the question raised with respect to the
ehl lead also those with whom he acted; but he should
llish,`",e_vote against the proposition in all its stages, and the
tyclig'sitton. Gentleman perhaps might not be so sure of car-
ttee of .4fteh-aIL , Before.the Easter recess he had given 130-
keitutnneStiOn to the Secretary for Ireland, whether he
tUrees 0."!. brbeg in a Bill this session to place the manufac-
thfic, home-Made spirits on an equal footing with the ma-
110e. 'Alorers of foreign and colonial spirits. But the Right
pedin.‘enotlernan the Chancellor of the Exchequer put a
eaee'Je4 le the mouth of the Chief Secretary, and said that
his atte'n belonged to his department, and he should reserve
had iiss!rer, till he was making his financial statement. He
'erica 'cl!ed to the speech, and had not beard a single Ben-
cleeetioee that question, and he now begged to repeat. the
say Of t7,nlyid formerly put. There was one thing he might
en to Right Hon, Gentleman's speech—it appeared to
ceentr uave s a vexed question at rest. Farmers in the
With illightfPut on their spectacles and look at it, but,
they wo the magnifying powers those spectacles possessed,
tee, e
ti old not discover any passage holding out the pro-
ther. TrotectiOn to one class of the community over ano-
other _IL' Uley wereto go to the country, it must be on some
Vonidlen. but lie hoped it would not be a cry at all, but
e. BRasweak as the muling of an infant.
Atgely eeeeT could honestly say that he participated very
eyeeeethat general satisfaction which had been expressed
geriti;eatiee- to the matter of the speech of the Right Hon.
hp man the Chancellor of the Exchequer. He thought,
Weeltilr' though the Right Hon. Gentleman had been sts
".1
9154 S
11414 El f 4116114. ma- error which bis