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

SATURDAY

membered that when the former Chancellor of the Exche-
quer (Sir C. Wood) proposed to increase the income-tax
from three to five per cent., these very gentlemen were
loudest in their complaints, as also most strenuous in their
oppmition.—(Hear, hear.) Under the free-trade policy
rents had undoubtedly diminished, and he felt surprised that
anybody should be found to deny such a result. The Right
Hon. Gentleman the Chancellor of the Exchequer had al-
luded to the prosperity of the country, but had not attributed
it to free trade.—(Cries of " Oh, oh," from the Opposition.)
Had Hon.'Gentlemen never heard of prosperity
in spite of
free trade?—(Hear, hear.) In the shipping interest there
was undoubted suffering, but he trusted that matters woald
mend.. The country, however, had confidence in the present
Government, and desired to give them time for the develop-
ment of their policy. What he (Hr. Hudson) should like to
see carried out-would be a mixed system of taxation, embrac-
ing both Customs and Excise.
Lord R. GROSVENOR, replying to a remark of the Hon.
Member who had last spoken, reiterated his assertion that
his constituents were averse to any addition to the income-
tax. He added his regret that the Chancellor of the Ex-
chequer had not in `his speech held out a hope of relief to at-
torneys with respect to the certificate duty, and gave notice
for the 25th inst. for'a motion on the subject.
The 'CHANCELLOR of the EXCHEQUER could not
withhold his surprise at the intimation which had just fallen
from the Noble Lord.—(Hear, hear.) So the Noble Lord
was to head another campaign against direct taxation. ll*
(the Chancellor of the Exchequer) had received deputations
fr©m attorneys on the subject of the certificate duty, and
many other deputations; but in all cases he thought he
had sufficiently excused himself, by showing that the Ex •
chequer was not in a condition to bear the remission of the
taxes.— (Hear, hear.)
Mr. L. HEYWORTII deemed the statement of the Chan-
cellor of the Exchequer most satisfactory, and thought it
would confer on the Government a degree of popularity cal-
culated to strengthen them much out of doors.
Mr. C. BRUCE said, that after having listened with the
greatest attention and admiration to the statement of his
Right Honourable Friend the Chancellor of the Ex-
chequer, he did not understand his Right Honourable
Friend to have expressed any preference for
direct, as compared with indirect taxation. his Right Hon.
Friend had confined himself throughout his speech to a
simple statement of facts, and had given no opinion that one
mode of taxation was better than another.
Mr. MUNTZ said he had attentively listened to the speech
of the Right Hon. Gentleman the Chancellor of the Ex-
chequer, and he had no hesitation in saying that since he
had had the honour of, a seat in Parliament he had never
heard a more lucid and able address. There was one re-
mark of the Right Hon. Gentleman which he could not
feel to be correct ; but when two Chancellors of the Ex-
chequer boasted of the extraordinary commercial prosperity of
the country, he could not attempt to contradict them. He had
risen, however, principally for the purpose of calling the
attention of the Right Hon. Gentleman to the unfortunate
circumstance of his renewal of the income-tax. He (Mr.
Muntz) felt convinced that the country at large would be
greatly disappointed at that renewal, and more especially as
the measure was to remain unaltered. The tax operated
most oppressively against small manufacturers and traders.
In his opinion they ought to get rid of the income-tax al-
together, and adopt a property-tax.
Mr.AL COCK said he thought there ought to be no ex-
emption whatever from the operation of the income-tax.
The resolutions were then agreed to, and, the House,
having resumed, they were ordered to be reported on
Monday.
The Highway Rates Bill passed through Committee.
The other orders of the day were then disposed of, and
the House adjourned at a Quarter before One o'clock.

SPIRIT of the PUBLIC JOURNALS.

THE FINANCIAL STATEMENT.
TIMES. - Mr. Disraeli has added a new chapter to the
history of parties, and'a new glory to the British Constitu-
tion. He may almost be said to have enlarged the idea of
human capability. Never was there seen to such advantage
as last night that almost peculiar custom of this country, by
which rival factions periodically change places; by which
enterprise and disaffection occasionally undergo the ordeal
of office, and power in its turn is humbled in opposition.
The scourge of Peel and the opponent of Wood made a
speech which either of them might have been proud of, and
which in its very manner, as well as its substance, showed
hew thoroughly the speaker had studied his antagonists.
We have long said that the only way to extinguish Pro.
tection was to put it on the Treasury bench, where it would
be obliged to master the facts of the question and commit
itself to a definite policy. That was the process we saw last
night, and no stool of repentance, no pillory, no sheet and
wax-tapers, no whip ever expelled the offending devil
from any frail nature so thoroughly as the proud but
arduous task which devolved last night on the
Protectionist chief. The eSice made the man. He had evi-
dently resolved to " speak truth and shame the devil," and
delivered so clear and effective an eulogy of our financial
policy during the last ten years that Sir Charles Wood had
nothing to add when his turn came. It is true that the
cheers were from the Opposition benches, while Mr.
Disraeli's own friends had evidently not yet learnt the part
of triumphant converts which they were expected to play.
That signified little in a House the rule of which is that the
orator addresses his foes, not his friends, and has no choice
but to turn his back on his party. All sides, however—
from the most applauding opponent to the most silent sup-
porter—must have admired the appearance, as it wore, of a
new Chancellor among them. It is now evident that this
wonderful being need neither be dropped from the clouds,
nor connected with a Russell or Grey, nor trained by a whole
life of office. It may be produced ex nihilo, or manufac-
tured to order at six weeks' notice. No conjuror ever pro-
duced such a surprise from his hat or his cornucopia. We
saw with our own eyes the last rag of Protection
put into a red box, and when the lid was opened,
a perfect Chancellor of the Exchequer appeared, who imme-
diately opened his mouth and made a first-rate financial
statement. As to the substance of the budget it is very soon
told, for it was to do nothing. Mr. Disraeli proposes to con-
tinue the income-tax for another year, leaving everything
"noth i n g " better
yi
propositions. gavethat atroe often
else alone for the present. But besides that this is the best,
and really the only practicable course, yet never was
iaa the m substance,ost elaboratea spirit, andand angr
gratuitous
ma ardeepettlirtiison
entminouree
tshenesipbrleeseonf
tthem,
ni
knewnine-tenths t et nh taht
thes of theonl
yHeoouusres,e andwa
satlol the more sensible of them,
knew that the only course was to co
pro-
visional arrangements, leaving to the new Parliament the
i csen
Probably missednothing
tenthsmust
hil.e7rpetuating the income-tax
.witritiesrsthep have left the
business of poets and indeed
convinced on that point
dill
.{i ffioiutcsieipl Inle taskuscehd
.o r
uf
But ao amending nttdhhionorsgoeu andgn j
roprii: communia dicere, Mr
oftli an,alblefore.
other If
year's income-tax his
of last year's. Instead
of the brute sense that eee must •
ust have the income-
tax for another year, like the sere
own, Disraeli
t h 0
tt certainly
u
presentiment of a beating
that even a dog might feel under certain circumstances, we
lave now rational satisfaction on this
point. The celebrated
formula of "three courses" was
-drought to bear on the ques-
tion. There are three possible methods of filling up the actual
deficiency undsuffering nuclei which we are by the lapse of the
income- tax. First, new duties on customs;
ex-
else duties; thirdly, new direct taxes. secondly, new
Of these the two first
were disposed of by relating the
history of the war waged
against them during the last ten
of the direct taxes was illustrated years. The unpopularity
win-
dow duty last year; and the only t„ by the repeal of the
orm of direct tax, the re-
newal of which would be tolerated f
income-tax, to which we are brought
even one year, is the
il'''
ex-
haustion. The proposal was so st tbY this method of P e and obvious that had
it been announced, or even intimatedl earlier in the speech,
we cannot answer for the etree,
on the interest of the re-
mainder, but Mr. Disraeli's own
other sphere has taught him to an-
reserve literary practice in an-
till the very last moment, till r his climax. So
the
hand was almost on
seven o'clock, it was not perfectly
Would conclude—as a morning contemporary yesterday in-
formed with a motion
certain but that he
formed its readers that he would'
that the surplus revenue shall be
appropriated to ways and
pr
means." He didlconclude with
as Sir Charles Wood last year, and
the same resolution
Went on, the House of Commons and though the speaking
carried by acclamation the income. virtually then and there
sions and inequalities, for another tax, with all its oppres-
evidently applied himself to his taskyear. Mr. Disraeli had
to do it thoroughly; and we should with the determination
the pains and self-denial it must badenot be doing justice to
mit that he has done his work well
cost if we did not &d-
-eed state of our revenue, of the temper 111 s review of the sources
the difficulties of the financier, oof the taxpayer and
position and prospects, and of the our present financial
tied before the permanent renewal questions to be set-
is so perspicuous and agreeable, of the income-tax,
com-
mend it to such of our younger eedthat we can
desire, with a moderate expenditure our fairer readers as
get up the finances of this country, if trouble and time, to
arid not too many. The Right Ron, Gentlemanbe figures are enough
command, but judiciously forebore t had more at
with a load too great for the memory
encumber his speech
hearers. We are bound to add thu4a., or attention of his
there an exception of no great imneL with only here and
agree in his views, as much as seerart?ce, we cannot but
Mire the manner in
which he expressed them- Perhaps we
should say that he
insisted too much on the large exemptions
range of the inhabited house duty, ae and limited
at which we purchased the remission Proof of the cost
win-
dow duty, when in fact the two duties-that of the
and that substituted—have much the
and much the same range. Nothing can be jester
exemptions
Disraeli's remarks on the dangerous tendency juster than Mr.
remitting an indirect taxation which fausn:Y of continually
ling its place with a direct taxation ....,Pir all, and sup-
ablew° his only toler-
because it is made to fall on a few. But •
be seen whether in fact it is practicable to ,_ it remains to
taxation in a country which is always requirZeP up indirect
taxation facilities
and new outlets for its industry ; and whethe,
in the event
of direct taxes being substituted, it is practicable to levy
them on any except the wealthier, more res 3
more "come-at-able" class of persons. This ?,olia nsible, and
great financial problem of the age; and if 14,..Lt1... Di deed, the
, sraeli, 1 with
the assistance of the Committee now sitting ,
succeed in making direct taxation as fair, as _oprairs, can
palatable, and as productive as indirect taxes, `l'm vwer
'have
solved solved a problem evidently above the
genius of either ve
Pitt,
Peel, or Wood.
HERALD.—No one will from this time deny t-° he
Chancellor of the Exchequer the praise of candour. :If to
do justice to a political opponent be a virtue, then ha a the
a Ink House of Commons seen a display of this virtue more ' -
ing than it has witnessed for some time, or is likely 804 m to
witness again. To his predecessors in office, last Die :t, in
the development of his budget. Mr. Disraeli was maim aally
complimentary ; the panegyrist whom Sir Charles ,Wood
wanted when in office, he has found in his 811 CC
es"
r. "e
may congratulate himself that so well-timed a comp liment
has been paid him, not merely by an opponent, but :
, 5y one
of great acuteness and ability; not only on tilt a spur
of the moment, when hasty excitement, like an after-
dinner speech, gives a deeper colouring to language vhich
cooler blood is apt to condemn, but after some we eks of
study and reflection. After much thought and calculation,
the Chancellor of the Exchequer has resolved tha t it is
wiser to let well alone. For the present, at all e\ et eats,
he will conduct the finances of the country on the a sine
principles as his predecessors, . wisely Preferring to
endure inconveniences for a time than, by mead ling
with the present arrangements, on so short a warning and
with so little time, introduce confusion, when he only de..
signed a remedy for existing evils. or, by inefficient chat ages,
create mischief; when his sole intention was amelit sra Lion.
If any disappointment be felt, as perhaps always I et-11 be
felt where expectations have been excited, a little ref tection
will convince the country that no other course was o pen to
the Government, as certainly none ether was warren ted by
prudence. Mr. Disraeli has at once boldly and fi rankly
avowed his incapacity to re-adjust taxation until he shall
have had more experience and more time to maste r the
bearings of the present system. No man can withi; I the
apace of six weeks devise means for the adjustment of difi i-
culties, nor can any means be inaugurated without int irfe r-
usg.with the commercial arrangements of the country.. l'e '0
genius can play with surplus and deficiency a 3 the i-
torical figures. In the present state of th e
nation it
fire by would be most unwise to kind Ile a
re uy a new scheme taxation, or je t Ai
of
i the present returns of the revenue by. any nel ff
propositions which
might furnish moans for exetteming,, .ap d