The Sun.
London, England, 1852-07-31 00:00:00

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There can be no doubt that the tipositioln 614:31
income tax, taken in conjunction with the repeal of
the corn-laws, has tended effectually to disarm sedi-
tion and appease popular discontent throughout the
length and breadth of the land. It has now become
impossible to affirm before any audience of ordinary
intelligence that the wealthier classes of this country
are protected in the enjoyment of any artificial in-
come, or exempted from fair contribution to the neoes- -
sities of the State. We have peaceably effected a
greater equalization of burdens than was ever accom-
plished
even in a paroxysm of revolutionary violence
by any continental kingdom. It cannot, indeed, be
asserted that direct taxation is as generally agreeable
as free trade in bread. The income-tax has many
and serious annoyances in its train; but there is no
denying that it has been the chief instrument of our
financial successes. If the time should come when
re can dispense with any such agency, so much the
better; but so many tax,-s, in our opinion, should
prectclince of tni.i in a Itlinister's consideration,
that it w•il he a Gar wiser proceeding to regulate the
I impost irf-Cil than to put up with til,' injustice of •
its present operation on the speculation of its near
removal.
Tne history and position of the question ate some-
what singular. Sir Robert Peel introduced the tax
as a temporary measure—its an expedient of the mo-
ment, rather than an approved conclusion of financial
wisdom. lie was encountertd withlozne solid objec-
tions, and some disingenuous pretexts. It was quite
true that the tax was " inquisitorial," and therefore
not only oppressive, but offensive to boot. It was
also true that it anticipated in some sense the re- •
sources traditionally reserved for the exigencies of
war, and savoured, therefore, rather of confessed
helplessness than subtle statesmanship. Any man
can lay his hand upon a reserve fund. But, on the ,
other side, it was fairly to be argued that the exi-
gencies of? war had surprised us in time of peace.
War could do no worse than create a deficit, and
a deficit we had got already ; while, as to the
disagreeable character of the tax, that was in
some degree compensated by the productive nature
of its returns, and • the small cost of its
collection. The plain truth, however, was,
that the - " interests" so effectively rep
resented
in the Imperial Legislature were naturally averse to
the transfer of any taxation from labour to property,
and gladly cloned with a proviso which not only ex-
tended the taxable area, but clogged the measure
with such odium as promised to ensure its eventual
destruction. The advocates of these opinions were
well satisfied to see labour and toil made as respon-
sible as land or money, and they have since consistently
opposed any attempts to render the tax more just or
endurable. The adjustment of the income-tax by an
acknowledged standard of equity would be attended
in their eyes with a twofold disadvantage—it would
visit property with its full amount of obligation, and
lit would make the liability more likely to be perpe-
tual. They stubbornly resist, therefore, all proposals
of equalization, declaring such arrangements to be
impracticable ; and when encountered by the retort
that in this case the tax must be abolished,
they con-
tentedly accept an alternative which they would not
have ventured to propose. These proceedings should
be vigilantly observed.
We assuredly entertain no sentiments of affection
for the income-tax in itself, but the experience of the
last ten years has proved to demonstration that this
intermixture of direct team'
of productiveness
systems which
had reached their utmost limittuoreeprlteoductiveness has
been attended with the happiest to the finances
of the country. It may be quite true,u as ctehretain.p!slia-
ticians allege with such eagerness, sat
measure was expressly proposed as temporaryoriingmit
operation, though Sir Robert Peel did neverthelesss
avow his desire of " founding a juster principle of
taxation ;" but,
_whatever in this respect may have
been the original conceptions of the Minister or the
House, it is perfectly clear that the tax has now ac-
quired a character entirely different, and that it
must enter into the budget of every Chancellor,
whether Liberal or Conservative, for some years- to
come. Under these circumstances it is sheer delusion
to listen to those who magnify the difficulties of re-
form, and who confidently assure us, for purposes of
their own, that we must either have the tax as it is,
or no tax at all.
As to the true difference between the two posses-
sions represented as so undistinghishable—that of
solid property and that of precarious income—we
apprehend that the assertion in question would be
ventured only by a person enjoying the former class
of means, and we should like to bring the case to an
issue on the spot, by requesting him to commute his
3001. a year rental or dividends for a salary of the
like amount procurable by his daily labour. If he
closed with the proposal we would give up the cone
test at once ; but, if he preferred to retain his origi-
nal fortune, we could suggest with some effect that a
preferential possession might fairly be credited with
proportionate. duties. In sober earnest, it is really
preposterous to bring such a question to argument.
To assume that any Englishmen require to be told
:.that-10,000/..Consolsr •or 2.so..acreseof-lead, is .salife
serest kind of property from 3001. a year coming
in over the counter, is perfectly ridiculous. Few,'
indeed, are bold enough, by any kind of mystifi-
cation, to propound' such a doctrine. What is
urged is simply that discrimination is impos-
sible, and that the earnings of toil must needs be
confounded with the produce of capital, because it
is beyond any financier's power to make an unex-
ceptionable graduation of the whole scale between
I them.
To this argument we must take leave to reply,
that the difficulties in question are precisely those
which a Finance Minister is engaged to surmount ;
and if incompetence is pleaded the alternative will
not be submission to the evil, but recourse to rulers
of a better capacity. If Mr. Disraeli cannot assess a
proportion between income and property, he will be
outstripped by a Chancellor of the Exchequer who
can, or who will, at all events, not dismiss the pro-
blem without some attempt at solution. But, as we
have repeatedly observed, we are most profoundly
convinced that the difficulty of the task has been ab-
surdly magnified by those whose interests were con-
cerned in promoting the delusion. Mathematical ex-
actness may, no doubt, be unattainable, but this is
only what might be predicated of every tax under the
sun. Do poor-rates fall with infallible evenness upon
,everybody ? Is the land-tax levied with unimpeach-
able fairness ? Every impost has its defects; but none
of such monstrous magnitude as are exemplified here.
For fear some annuitant should be unduly assessed, or
some reversionary interest overrated, two enormous
divisions of taxable substance are confounded in one,
and we are coolly told that any change would beat'
tended with " some injustice" by those who are de-
claring capitals of 30,0001., 16,000/., and 6,0001. to be
identical amounts for the purposes of taxation. There
never was a more prodigious imposture. • Ifyieg
By way of consolation, however, it la. OIL
• " some
to reflect that a good many " itoPossiTet, on
of them almost as formidable as the. is
be-
tween 10 - and 100, have recently overcome
been recently
upon a proper demand. A few months atogo
mitodwifa;
" impossible" to abolish the. per cent.
the house-tax, or to
dothwelptwhroelseutnat. 5
Ygt one after
in-
come-tax, assessed like the
feats have been performed ;
another these " •imP°s
without any apparent distress to
and, what is more,
anyw harm to the revenue. The
the performers r
ding these tremendous operations,
hbausdgsehto,vl;notwaiths
surplus still, and we venture very con-
fidently
t.to p.rerdenl..eatlithaaet found bold enough to grapple
the Exeue(lll-I,lens of distinguishing between half-
with the pro
as the revenue will be largely the
..„d game_
crowns It present the notorious injustice of the
gainer. t suggests, though it may not justify, the
"sessfaenof the tax, for the returns showthat'
e:pi:which violate every principle of equity
ions
r
are encountered by shifts which defeat the object of
the
measure. With just dealings on one side we
may expect fair play ou the other, but at present the
State and the fraudulent contributor are mudh upon
a lev.el.

[PRICE SD.

THE LONDON GAZETTE, July O.

BANKRUPTS.
William Ogilvie Cameron and William Bruce, pickle
merchants, Mintern-street, New North-road, Hoxton, to
surrender Aug. 4 and Sept. 8, at half- past one, at the Court
of Bankruptcy. Stansfeld, official assignee; Pocock and
Poole, Bartholomew-close.
William Winch ,licensed victualler, Fountain. court, Strand,
Aug. 9, at halt past one, and Sept. 15,
of Bankruptcy. Stansfeld, official assignee ; Laurance,
Views, and Boyer, Ott Jewry-chambers, London.
Wharf-road,
at two, at the Court
Aug.crainan,
Thames-street, August 9 and September 15, at one, at
the Copt of Bankruptcy.
lYilliam Sentance Ramsey, druggist,
Graham, official assignee; Jones,
Queen-street, Upper
Austin.friars.
half-past one,
Se.ll.°lm3r'3, atPca
acti
tit3e.h-aern(baßaptiste
. 1 )6aautptt
lavienl,v
Bankruptcy.e
,c oaelnoadunrsn
ea ili,:t:u rlocol iiii.acn,i.
att ,l
az sig a e e Al .
dermanbury ; Brandon, Essex-greet. Strand.
rse,
eleven, 13, and
of assignee, Bri:tol ; Bevan, Bristol.
David Lanst,y, livery stable keeper, Bath, Aug. 10 and
alinruisfatocituvriesrt,rßicrtisctooult A.
Sept. 7, at twelve, at the Bristol District Court. Miller,
official assignee, Bristol; Heather and Moser, Paterneater-
row. cap
tpthmo

George Walsh, pawnbroker, Blackburn, Lancashire, Aug.
10 and 81, at twelve. at the Manchester District Court.
Pott, otrcial assignee, Manchester;
Swift, Blackburn; Hall,
Accrington.
Thomas Luke, grocer, New Accrington, Lancashire, Aug.
11 and 31, at twelve, at the Manchester District Court.
Mackenzie, official assignee, Manchester ; Bannister, Accring-
ton ; Sale, Worthington, and Shipman, Manchester.
• DIVIDENDS. .
At the Court, Bnsingball-street.
J. D. Benjamin, Southampton-street, Blootnsbal7-
square, dealer in cigars, Aug. 20, at one.*
In the Country.
T. Dalton and T. Edwards, Birmingham, iron-
founders, Aug. 24, at half-past eleven, at the Court,
Birmingham.

PAYMENT OF DIVIDENDS.
C. Roberton, Rotherham, Yorkshire, steel manufac-
turer, second and final dividend of 4d., on Saturday,
July 31, or any subsequent Monday, after Oct. 9, be-
tween eleven and two, at the office of Mr. Freeman,
Sheffield.
11. D. Wilkinson, Sheffield, silver plate dealer, third
and final dividend of .21d., on Saturday, July 31, or
any rubiequent Monday, after Oct. 9, between eleven
and two, at the office of Mr. Freeman, Sheffield.
L. Newham, Sheffield, draper, 10d., on Saturday,
July 31, or any subsequent Monday after Oct. 9, be-
tween eleven and two, at the office of Mr. Freeman,
Sheffield.
J. Bertram, Sheffield, ironmonger, 2a., on• Saturday,
July 31, or any subsequent Monday after Oct. 9, be-
tween eleven and two, at the office of Mr. Freeman,
Sheffield,

r.Ferre Oct. 9,
g,
J. Nicholson, Sheffield, surgeon, Is. Ild., on satu
dbeaytw,
eJeunlyele3vle,noranadntywosu, baste qthueenotffillonodfaym, aft
Sheffield.
J. O'Donnell, Sheffield, grocer, 9d., on Saturday,
July 31, or any subsequent Monday, after Oct. 9,
between eleven end two, at the office of Mr. Freeman,
Sheffield.
G. W. Ilinchcliffe, Sheffield, manufacturer and
factor, third and final dividend of Sd., on Saturday,
July 31, or any subsequent Monday, after Oct. 9,
between eleven and two, at the office of Mr. Freeman,
Sheffield.
J. Hill, Thorne, Yorkshire, wine and spirit merchant,
second and final dividend of 80., on Saturday, July
31, or any subsequent Monday after Oct. 9, between
eleven and two, at the offices of Mr. Freeman, Sheffield.
W. and S. Shaw, Saddleworth, Yorkshire, timber
merchants, final dividend of 3:11, on Tuesday, Aug. 10,
or any Tuesday subsequent to Oct. 4, between eleven
and one, a: the cffice of Mr. Fraser, Manchester.
Curving, Lamb's Conduit-street, bookseller,
Is. Bd., on Thursday, Aug. 5, and Monday, Tuesday, and
Wednesday following, between eleven and two, at the
office of Mr. Stansfeld. Basinghall-street.
NOTICE OF CERTIFICATES.
At the Court, Basinghall-street.
R. H. Whiteman, *High-street, Putney, apothecary,
Aug. 23, at eleven—E. Morgan, Portman-market, Edg-
ware-road, licensed victualler, ug. 23, at twelve.
In the Country.
W. Wood, Wath-upon-Dearne, Yorkshire, timber
merchant, Aug. 30, at twelve, at the Court, Leeds.
CERTIFICATES GRANTED.
T. Heard, Woodbridge, brewer. certificate of the third
class—E. Dubbins, Colchester, common prewar, certifi-
cate of the second class—J. Passman, Stockton-upon-
Tees, currier, certificate of the third class—J. Bowrin,
Walsall, Staffordshire, currier, certificate of the second
alas—W. Royde, Birmingham, draper, certificate of
the second class—R. Chamberlain, Uttoxeter, Stafford-
shire, draper, certificate of the second class—L. New-
ham, Sheffield, draper, certificate of the third class,
after twenty-one days from July 24—T. Bates, S.
Sheard, and J. Sheard, Halifax, Yorkshire, engineers.
certificates of the third class, after twenty-one days from
July 26—J. Iveson, StokoleyeYotleshire, byilder, certi-.
''sate of the third class, after twenty-ono days from
July 26.
PARTNERSHIPS DISSOLVED.
A. Hill, E. Hey, and J. Stanworth, Bineley, York-
shire, stone. merchants—F. Sawtell and J. Winstanley,
Friday-street, Cheap.ide, commission agents—T. F.
Mason and C. Bertrand, Meeeiesfield, bilk dyers—J.
Gawdery and W..H. Gawdery, Caichester place,
Gray's
Inn-road, brush-manufacturer—a'. Lucas, E. Gvryer, J.
Lucas, and E. T. Lucaa Bristol, merchants—R.
Kilborn
and V. Kilborn, Derby, drapers—J. Holt and J. Raw-
linson, Bury, tea-dealers—W. Malster and W. Bull, St.
e
Georg's-pleee, Camberwell, zinc-workers—Eliza Wilks
and Eliza M. Bullock, Addieon-road, Kensington, school-
mistresses—T. Stiff, R. C. Beddoe, and J. B. Stiff,
Bristol, starch manufacturers (so far as regards J. B.
Stiff)—A. McFarlane and J. Ellis, Liverpool, rectifiers—
G. J. Aman and F. Kroebur, Liverpool, merchants—
T. M. Evans and J. Clark, Leicester, grocer J
;11i7 Spreat,
Manchester, jewellers—E. H. Poytiton4.tl;.
• Backlog
way, Bristol, chemists and druggists' thshire, pro--
ham and G. Wheller, Newport,
M°llllll Manchester,
vision merchants—J. Clegg and W. Bice
ea and W.
silk small ware manufacturers—S- "In
and T. Bee-
Nouns. Hackney, grocers—W. Bellerby.
3- G- ill, and R.
tham, York, painters—W. Major, F.
and Middleton,
Gill, London, Manchester, Bury-lane, a.
or) —T . H aw-
mihufacturers (so far as regards W. Maj
worth and W. Thornber, Over Darvr.,
en, Lancashire,
stonemasons—S. Machin and J. HA "
pgoo Dristol
d,
iron and metal dealers—J. C. Stovie,
ill, I "s'
an
R. Blagden, Savage-gardens, Tower' merch" ants (so
far as regards J. C. Stovin).
SCOTCH SEQUESTRATIONS.
T. Hamilton, Haddington, horse dealer, to meet Aug.
3 and Aug. 31, at two, witnin the Star Hotel, Had-
dington.
J. M. Wilson, Glasgow, boot and shoe maker, to
meet Aug. 6 and Aug. 27, at one, within the Albion
Tavern, Glasgow.
T. Tong, Kilmarnock, nurseryman, to meet Aug. 4
and Aug. 26, at one, within the George Hotel, Kil-
marnock.
-G. and D. Ford, Uphall, merchants, to meet Aug. 3
and Aug. 26, at one, within the Star and Garter Hotel,
Linlithgow.
G. Dunlop, Haddington, distiller, to meet Aug. 4 and
Sept. 4, at twelve, within M‘Donald's George Hotel,
Haddington,

BANK OF ENGLAND.
(From last night's Gazette.)
An Account, pursuant to the Act 7th and Bth of Victoria, Cap. 32 for
the Week ending on Saturday, the 24th day of July, 1852.
ME! DENULTKENT.
X.
Notes issued ........ 35,708,075

Government debt .. 11,015,100
Other securities .• /954,900
Gold coin and bullion 2,,C74,700
Silver bullion • • • • 33,375

L 35,708,075

4 35,708.075
DIAESHALL, Chief Cashier.

Dated the 29th day of July, lab:

D:
Proprietors'capitai .. 14,553,000
Rest • •••• • • • • 3,194,140
Public deposits (In-
cluding Exchequer,
Commissioners of
National Debt, Sav-
ings-banks, and Di-
vidend accounts) .. 2,802,361
Other deposits .. . • • • 15,464,288
Seven day and other
Bills ..... ...• 1,386,878

oTTAITMEN T.

Government scowl-
ties (including Dead 546
Weight Annuity)•• 1„3,782'162
Other securities •• •• i6"665
'Notes .•• . .. —357,274
'Gold and silver coin

£37,400,667
M. MARSHALL, Chief Cottle.

PRETENDED REPORTERS on the PRESS.
In a notice of the Builders' Benevolent Institution,
which appears in the Times yesterday, there occurs the
following paragraph:—
" Among the items of expenditure was one of 41. to •
' reporter for insertion of paragraphs in newspapers.
We are informed that there are persons in London who
never write a line in newspapers, but who watch the
insertion of brief reports of meetings, and then wait
upon the secretaries of companies, and, under the false
pretence that they have procured their insertion, levy
black mail upon the public. No person who has the
least influence at a newspaper-office ever adopts such__
a
course, and the secretaries of companies would 0011„
far an obligation upon the proprietors of newsp
they w(,uld hand the very first
makes his appearances over to the custody of
officer."
arnivg to the
This is a well-timed and much•neededvir
iFe
bavereason
of these g!nlonc*.
directors and secretaries of companies.
here exposed is
to believe that the system of fraud and and we
snore prevalnnt than is generally
of
the unprincipled
;lout(' he glad to hear, that same hoiDg the power to
persons who, under the preteoreaep
plunthr charitable
procure the insertion ci
13ar 8
over to the police, when
institu:ions, %ere to be handed
rail:gate fraud.—Mernieg
attnawing to commit the p
Adrertiscr.

437,400,667

Dated the 29th day of July, 185

COURSE OF EX(
AmStoll= •• • • ..••• 12 0
Ditto. three menthe.. 12 lih
R3tterdam .• •• •• •• •• 32 0%
Antwerp.. 25 55
Brussels.. •• ••• 25 55
Hamtnrgh .• ••••• • ••• • • 9
Alto= ••• • • ••.•• • • • • ""5
31%
Paris, 3 dayesight .. • • 4
2s 52%
Ditto, I months •• •• 21 62%
Marseilles •• •• •• •• "
Boardeaux • • 121 M
rankiortonAisLue" -•••
Barlin •••••• •• •• • • 12 5
Vietuia, stns. 90•
.:... 12 6
Trieste, diito• • • • •
•• 371
rotorsburith • • • 49:44.
niAdrid " ' •
Cadiz • • • • .
Barcelona •• •
Seville •.• •• •

DRAN .30 60
Leghorn •• ...... 25 60
Gonna .• •• ...• •• ••
ICUs " •• •• • • • •
Venice.' •• .. 41 v
orm
gaoles,,;;;;
__••• • • • •• 12414
kes,in •••••••• •• •• 12416
rilithOrl•• •• •• •• •• •• •• •• 55%
Oporto •••••••• • • •• •• 53!1,
gio Janeiro
Buenos Ayres
New York, 60 day s' sigt t
Phtladelptda ..........
Pitots OP BULLION, PER oz.
Foreign Geld in bars .. X 3 17 9
Pcrtugal Gold Coin .. 0 0 0
S:Anisit Doubloons .. 0 0 0

`.7g;•••••4 balm -• .. • • 0 4 10%
Saver in bars ........ 0 5 0%

FATAL ACCIDENT WHILST BATHING,—On the
aftcrnoon of Friday, whilst some boys were bathing in the
pool adjoining Medley Lock, cries of distress were heard by
Mrs. 130ssorn, the poundkeeuer's wife, and her son, who im-
mediately ran to their assistance. Young Bossom, who had
to run quite 200 yards, on arriving at the spot, found two of
the boys struggling for life; lie immediately jumped in and
succeeded in rescuing both; bid some minutes atter having
done so he found that there was another missing, and that
the body had been in the water a quarter of an hour. The
exertions, however, made in rescuing the other two had so
weakened him that he had not strength to plunge in with
any chance of saving the lad. Drags were resorted to, and
in a few minutes the body was brought to shore, and al-
though every exertion was made life could not be restored.
The lad's name was William Emanuel, aged eleven years,
son of a shoemaker residing in St. Peter's. The depth of
water where the body was found was fifteen feet. The
coolness and intrepidity of young Betssom, seventeen years
old, will, we trust, not be ... gli
Owed to pass unnoticed.—Ran-
bury Guardian.

--
INDIA AND AUSTRALIA STEAM NAVIGATION COM
FANY.—The Master in Chancery has declared a call ot 41.
share on all those shareholders who signed the deed
to lig tu°-
data liabilities, reported by Mr. Coleman, the official ager.
to amount to :3,401.
SOUTH WALES RAILWAY'--Arrangements
progress for eslen. in_g
.t.he col
aselecr
of the South IN ales natirray, to connect
c teahovhelhot
all the port
the coast with
Mopolis by telegraph.
etr
.and places on
the west of England and thy
The Bight HOD. J. w. Henley left lowa yesterd
his seat, PiaterPerry, Oxon.
for