The Sun.
London, England, 1852-12-03 00:00:00

to the fullest extent the now firmly established sys-
tem of unrestricted competition. Foremost among
all the evidences of this intention on the part of
the Cabinet, was the explanation thereupon made
by Mr. DISRAELI, that the Ministry are definitively
prepared to deal with the Malt-tax. The propo-
sition now submitted to the Legislature is this,
that the duty upon malt should be considerably
remitted—that, in fact, it should be reduced one-
half—while the drawback upon malt should in
Scotland (as had formerly been done in Ire-
land) be altogether foregone. It had been
asserted long ago that the abolition of the
duties on corn would necessitate the remission of
the duties upon barley. That remission had now
become inevitable. It was undoubted, said the
Right Hon. Gentleman, that an increase had been
perceptible since the establishment of the system
of unrestricted Competition, the sum total being,
in 1849, 38,935,000 bushels, in 1850;
40,744,000, and in 1851, 40,337,000.., Yet
it would be but fair that Free Trade should, in
this instance, be carried out to its fullest extent
in this particular, and therefore it has now been
proposed by the CHANCELLOR of the EXCHEQUER that
the Malt-tax—now levied at the rate of 2s. 7id.
—should be reduced one half, namely, to Is. 3id.,
and that the new system should come into opera-
tion on the 10th of next October. The next
subject treated of by the Right Hon. Gentleman
was the question of the Tea Duties. The reduction of
of the malt-tax by one half, must of course, he in-
sisted, benefit the consumer considerably ; by
placing within his reach cheap beer, it would by
encouraging the cultivation of barley materially
improve the condition of agriculturists. The
reduction of the Tea Duties, he contended,
must not less signally benefit the consumer and
the importer. In his reference to this proposed
diminution he made facetious mention of the early
praise of the china plant by PEPYS in his "Diary,"
and then specified that the imports of Tea inlBsl
reached 71,466,000 lbs. The probable imports
of the current year, ending on the Ist of next
January, would amount to full 57, 000, 000 lbs.
lAt present the duties on Tea may be
stated at 240 per cent, or 2s. 2id. per lb. These
duties the Right Hon. Gentleman now proposed
to reduce very considerably. He had previously
remarked that it would be unwise to deal in a
small manner with the Malt-tax. He subse-
quently suggested that the old war duty on Hops
should be simply and at once remitted. In a
kindred spirit he now unfolded his plan in relation
to the alteration of the tax imposed upon
Tea. Instead of maintaining those duties at
2s. 2id., he would suggest that they should be
reduced during the next six years to Is.—thus,
in the first year by 4d. [should it not be 4id. ?],
and in each of the five years afterwards by 2d.;
until it is reduced to is. as proposed. It should'
be especially borne in mind, that this reduction
to Is., applies to teas of all kinds, to teas of all
qualities, to black and green indiscriminately.
Turning to generalities, the CHANCELLOR of the
EXCHEQUER next spoke of the powers of the popu-
lar consumption upon which the revenues were
mainly dependent. Those powers of consump-
tion he regarded as visibly on the increase--a
conviction which he more clearly defined as
reasonable by reference to the annual births in
England and Wales, and to the circumstance that
the principal immigration had been from Ireland.
The rise in the rate of wages he considered to be
advantageous to the country, instead of being, as
was sometimes pretended, altogether disastrous.
Meanwhile, there was the flourishing condition
of the rate of interests--and the present
rate of interests he distinctly avowed his convic-
tion would continue.
Recapitulating briefly the measures proposed
to be carried out by her MAJESTY'S Go-
vernment, the Right Honourable Gentle-
man reminded the House that they suggested
the remission of 2,500,0001. through the
Malt Duties, of 900,0001. through the Tea
Duties, of 300,000/, through the Hop Duties
—altogether reducing the revenues of the country
by a sum of between 3,000,000/. and 4,000,0001.
Bearing this in remembrance, we seemed to come
naturally enough to the consideration of the
tax imposed from year to year upon incomes
and property. That tax thrt eirewer.x.x.on of
the EXCHRQUER maintained upon a former
occasion in The House of Commons, ought not to
admit of any exemptions. Repeating this asser-
tion in his Budget, he now yet more distinctly
insisted that the Property and Income-tax should
be general ; and in the enforcement of this prin-
ciple, and in the development of the " wise,
just, and beneficial " measures known as the
measures establishing the system of unrestricted
competition, he now demanded the extension of
the Property and Income Tax to funded proper-
ties and salaries in Ireland. Turning in a kind
of episodical manner to the consideration of
the 240,0004 per annum, known as the Consoli-
dated Annuities, the Right Hon. Gentleman re-
marked that the Cabinet were not prepared
to accede to the recommendations from the
House of Lords' Committee, though they
meditated bringing forward some Ministe-
rial suggestion at an early opportunity.
Having explained this matter incidentally, he
reverted to the subject of the Property and
Income-tax—observing that besides extending it
to the founded property and salaries in Ireland,
Minister were preparing to recognise a difference
between permanent or realised incomes and
incomes simply precarious. In illustration of
his meaning, and after distinctly announcing
that there would not be a preponderating
increase in any schedule, he explained that he
would henceforth consider the exemption in
industrial incomes to commence at 1001.
per annumn, and the exemption in the
incomes on property at 501. per annum.
Schedule A and C continuing 7d., reducing Sche-
dules B, D, and E, to the rate of merely sfd.
Estimating the proceeds of the extension of the
Property and Income Tax to Ireland at the "mo-
dest sum" of 60,0001., he considered that the sum
total would be, under the new arrangement,
somewhere about 5,421,000. Meanwhile he re-
called to the recollection of the house that he had
suggested measures which would reduce the revenues
by an amount exceeding 3,5002000/. Added to
this, came the increased expenditure consequent
upon the 'development, or rather organisation,
of the national defences. Remembering
these facts, it became his duty as CHANCELLOR OF
THE EXCHEQUER . to allude now more -parti-
cularly to the necessity for supplying deficiencies.
Glancing cursorily over the tables of the financial
year about to terminate, he remarked that it
was no doubt true that there would be found
on the sth of next April a probable dimi-
nution on the customs of about 100,000/.,
yet he, nevertheless, felt confident that the
surplus would prove not 460,0001., as he
had originally calculated, but actually a million
beyond that, amounting, in fact, to nearly
1,500,000/. I The Right Hon. Gentleman then stated
his intention of suggesting a series of measures for
increasing the revenues of the country by
about 600,0001., through the medium of a
supplementary estimate. Happily, he con-
sidered
the state of the revenues to be " most
favourable" as we have intimated by the hinted
surplus of a million and a-half sterling. To-
gether with the prospect of this surplus,
he gave an equally gratifying prospect of
what he spoke of as "no inconsiderable
roductions." In earnest of the good intentions of
the Cabinet in this particular, he declared boldly
and distinctly, and amidst lcud applause from all
parts of the House including the Opposition, their
Ibrillinguess to bring the whole revenue of the coun-
try under the control of Parliament. Hereupon,
Mr. DISRAELI came to the crowning point of his
dAff lcult and memorable enterprlse—the considera-
ti on of Ways and Means. Among the latest
of his announcements of Ministerial pro-
jbe fi ect in the way of improvement, must not
'-gotten b the
-rub. tie way, the proposal to close the
the Loan Commission. Having cleared
a ,bout
the Ex(3iTut before him, tne CHANCELLOR of
at Qatlat, we repeat, arrived at last
cum x
of his quarter past nine at the
the breathless quarter past
statement. Amidst
mar ked that he nwess of the house, he re-
!an increase throuas
for a return tao • greater
not going to propose
going ugh
camitilfeor Customs, that he
bwyasi
Excise,;he
enot
New indirect taxation,
_eater pressure
or f Or the imposition of a
TU. No—he was not ?about to demand New TU. or to revert

fourtbWilition

ads
rapidly improving. Therein economists had in 04
mistake, however, in this respect, for no evidenced 0
reached him in his official capacity which could te, nsgt,
any way to support that opinion. (Hear, hear.) tof
probably, the opinion was based upon the egged)
emigration that had recently been going on• tof
It would be found that there was a greater anl°lin the
emigration in this country than was balanced by 10
number of births. In 1849 the emigration amounr`o'oo,
(
300,000 persons ; in 1850, 280,000 ; in 1851, 3d 'o
and in 1852 (three-fourths of the year) 332,000 PI 0
The births registered in England and Wale 115
1852 were 600,000, and the deaths 400,0000;it
the births exceeded the deaths by 200,4er
followed that the emigration exceeded the
,‘,OOO,
fruity of births by considerably more than 1°°4.0001
' If, however, the returns were analysed it would be,
that such was really not the case. In the first Po tie
the returns only contained England and Wales' ilfo
second, two-thirds of the emigration proceedeutos,
Ireland, which did not figure in the population resol
The emigration from Ireland was produced by the f tlB
system, which was broken to pieces by the riliSerYto°
people ; in England it was produced by circus's ore
erectly contrary. The people of Englanddled
never better off; but foreign inducements bailee,
them to seek better fortunes than they experiencel.lo fact
The emigration from England and Wales did not
exceed 100,000 as against 200,000, which was theri, 0.0
tion to the population by births. His own opinic'a tio
that emigration, instead of diminishing, increase frovi
consuming power of the nation. Every enligraleliib
England became an English colonist and au string;
customer—(hear, hear)—and our markets were 1,010,
lated by that very circumstance which was 00
upon as a sign of decay and dissolution. (Ilear!e
With respect to Ireland, he was compelled to arri„„"
similar conclusion. Though we had lost in that,,,oo s°
a million and a half of population, there had
proportionate diminution in the revenue. It la PO
opinion, that the consuming power of a people ditiolk
depend upon their numbers, but in their ecil,o
and he was persuaded that as Ireland ';,i010
much richer country, its consuming power! 0101
not only be maintained, but would ;no
There appears to be an apprehension that theust sap
wages was increasing. For his own part, he la 00'
that he had not yet received evidence of such an thee
ordinary rise in the wages of this country. Plinteret
was another question, and that was the rate of in f 0;
It might be that the employer of labour paid
„T3)."n OP'
labour than he had done before, but it was cert , s rate
the employer of capital obiained his capital at a le'oellr
than he had ever done before. (Hear.) The her',' t th°
ber for Wolverhampton said the other night T 1 tliiJ
discovery of gold had not affected the commerce °otber
country any more than the increase of arluoootirl
article of consumption • but he could tell the n ho';
able gentleman that, besides this, it b'2, and
the effect of confirming credit in this °multi--I'OY
thereby immensely tending] to the employna.
people. (Loud cheering.) His own opiniono6,
the present rate of interest would continue. 00'
reduction which he proposed amounted in an., t°
dgC
to between three and four millions sterling, tue&l," ~
e )11
tion in the malt tax being about 2,500,000 r., ill °Pa
duties 300,0001., and in the tea duties 400,0001. 04
must remind the house that, though this
now only December, in a few months °ol
bad
the principal sources of the revenue vow" of the
ceased, and that if they supported the propositionsioio
Government they would, in addition, have to de:doceJ,
the consequences of an expiring law, which Prtivi ,
5,000,000/. of revenue to the Government ; decide
would then become the duty of the House to
what they would do with the property and inc°,,,-rae 11'
The right hon. gentleman then read an extract fr.°, 08
last year's speech on introducing the budget,
to the effect that the views which he had at Pr aut
entertained on the subject of direct taxation wei,:prr
inconsistent with those which he had former
pounded. He was clearly of opinion that if t,h,,e/olci ,‘,l)a
to have recourse to direct taxation, that it
general. (Hear, hear.) How far that course sy-fixtr.,
practicable it would be unfair to consider ; but
it was that the theme of establishing direct tap •
upon a large system of exemption was clell
pernicious one. (Hear, hear, hear.) thre;
laying down the views which he entertained wl
spect to the property and income-tax, it was Plai„.lopto;
the house must be struck with one very large e/gec,
which attended that tax. That was one which
bound at once to notice, and that was Ireland. l'ast I i;eclir
he had made no reference whatever to Ireland, to
he believed that the arrangements which were tlifoi4
mised, were only of a temporary nature. Btltdeetsji
now to consider the subject more intimately, be ifit
that he would be acting inconsistently bear)
his duty if he were to evade the subject. (Ilest4 10'61
Sir Robert Peel, in his financial statement of '4'l pro'
he first introduced the Property and Income-_,tl for
posed to place upon Ireland, as an equivatereOe
that tax two others. There was to be an 'iodo'j
in the duties on spirits, which was estimated to p
250,0001. a year ; and there was to be an inc pr'Y
in the stamp duties on matters affecting etbel
perty, estimated at about 160,0001., both Is tbe
being estimated to produce 410,0001. That wthe
equivalent which Ireland was to contribute t° agd
revenue, in lieu of her portion of the property ioio
income-tax. Now, though he was upon all euv-tioo
anxious to avoid making unpleasant observso,,k
to hon gentlemen, yet he could not help reotti
ing honourable members from the sister 1,0
that the expectations held out had not been ren,
reference to Ireland. For the produce of these fco
had fallen infinitely below what had been looks
The state of Ireland had now a ray of hope, au°,-.(o'
as he could form on opinion, he thought he inig';o7,
ture to speak of Ireland, without using the linear,of despair, in accents of desolation.
hear.) He asked the house to permit Pm"- Vit
place before them returns of the poor, fisili
taxation of Ireland. (Hear, hear.) He did not
to insult any gentleman by showing him tube
country was not ruined—(a laugh)—but all y'd
anxious to do was to fulfill his duty by sta`;.o
her Majesty's Faithful Commons the conditio tY
the whole kingdom . (Hear, hear.) Well, theifil',
poor law expenditure in 1850 amounted to the ell°0(1t°,
sum of 1,320,0001. ; in 1851 it was redo° ow
1,129,000/. ; and for the year ending ttclitsigm
of September, 1852, the poor law eg);,e
was reduced to 855,0001. (Cheers.) The deer 1850,
the expenditureh
of 1851, as compared with h
was in amount nearly 200,0001., is at "„-fl4
of fourteen per cent., the expe ~,
nditure 7,404.6.
as compared with 1851 was in amount s
or at the rate of 24 per cent., and the decree,
the expenditure of the year just conellraoUl
compared with 1850, was not less than 4lieerg'.,,l
or at the rate of 35 per cent. (Loud.
Nor was that all, for he had just received a retwil io 9he
:0
Ireland of an official nature, which conveyed te:Ito0;0
gratifying intelligence that Ireland was in a P°-,-ists%
maintain her own poor without receiving any fAc.if"
from any quarter, and he thought with thesedery
before them they ought not altogether to
( rivers.)
of the condition of the sister kindgdom. uni. tilt)
He did not think himself that it would be wis° P,„‘
to treat with any harshness the men of Irelan_, "-
rather was disposed to say that they should do 0;01
as possible to assist that "wise, just, and beneficial liter;
which had recently taken place in Ireland. (1-19',7010
he did not think it expedient to throw any obs7fiett"
the way of the regeneration of that country. `oomir
Yet the Government intended to recommend the
sion of the Income-tax to funded property and sa,'''Vtiv
Ireland. (Loud cries of hear, andgreatsensation.i.notoj
respect to the property and income-tax there Was-ssseri
principle which the Government were prepared t°..,008:0
namely, to acknowledge a difference between Peiii":4 ti
and precarious incomes. (Cheers.) Notwithstae-endke
large remission of taxation they had recouOreijef
which amounted to 3,500,000/, and which would 00
the consumers of the country to a much greater °rod'
it was not the intention of the Government 14 0
mend any increase in any of the schedules of tell to
perty and Income-tax. (Hear,) They proVea
the point of exemption on industrial incomes "-(Sng
and on incomes arising from property, at 601.,;411;
tion.) As regarded schedules for realised POLtottir
proposed that the tax should be 7d. as
and to reduce the tax under schedule to 01.7' be -8
result of all would be including Ireland, would
average of the last three years, being 4,961,0001. foe
The remainder of the financial statement will be
in the Summary.

THE LONDON GAZETT