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

THE SUN, LONDON, FRIDAY EVENING, DECEMBER 3, 1852.

the adoption of Parliament. Now, these prin-
ciples had been definitely established, and which
would enable the country to meet the competition
which it would have to encounter in the future. The
result appeared to him then to be inevitable—that the
only principle on which the Government of the country
could act, was to cheapen the necessaries of life as much
as possible. (Cheers.) He found then, that in 'the
case of the very primest necessaries of life, that some of
them were subject to the very heaviest taxes in the
tariff—(hear)—and he must mention that that was an
arrangement totally inconsistent with the new system.
(Cheers.) Honourable gentlemen opposite boasted of
having given cheap bread to the country. (Opposition
cheers.) Acting upon the principles, then, which he
had enunciated, the house would not be astonished to
hear that her Majesty's Government were prepared to
deal with the malt-tax. (Loud cheers from the Govern-
ment benches.) Herein was a prime necessary of life—
(ironical laugh from Opposition benches)—taxed in a
manner which greatly restricted industry. He would
not recommend the change which he was about to refer
to the hon. gentlemen opposite, upon any other plea
than that which they had themsefves always declared to
be the sovereign plea—the interest of the consumer.
(Hear, hear.) He believed, however, that if the
interest of the consumer alone were to be taken
into consideration, that that would be neither acting up
to the principles of unrestricted competition, neither
could it be said to be carrying into effect the
views which had triumphed at the late election.
) He believed it was possible
( while Hear,ear,
considering,
ehnesaird,e
ri andng cihentehr
the
.
first instance, the interests of
the consumer to benefit another class also. (Hear, hear.)
It certainly was for the interest of the consumer that the
malt tax should be dealt with, and in his opinion, if tho
tax was properly dealt with, no tax was calculated
to be more beneficial to apiculture. (Loud cries of
" Hear, hear.") The question of the malt tax, however,
had assumed a very different aspect since the repeal of
the corn laws. Indeed, it had been said by a very high
authority, that the moment they repealed the corn laws
the repeal of the malt tax was inevitable, and he thought
there would be no great difficulty in demonstrating the
soundness of that opinion ; for when Ministers of State
were required to take every opportunity of improving
the cultivation of the soil, that he must grow as little
wheat as possible to retain restrictions upon the growth
of the next generous grain was preposterous. (Hear.)
But it was for the interest of agriculture that, in all
soils which have been diverted from the growth of barley
to that of wheat, should be restored to its original pur-
pose, because then the market for the production of the
soils which were eminently qualified to give us wheat
would be greatly improved. (Hear, hear.) Well then,
they had to consider, in the first place, how they should
deal with the case—in what manner, and to what degree
they should deal with the two objects
which they ought to have in view were those
of establishing industry, and reducing the price
of the article consumed to the consumer, and they
could not obtain that object if they dealt with this case
in a small or limited degree. (Hear.) The existing duty
on malt was 2s 74d. and 5 per cent. per bushel, and the
consumption was on the increase. In 1849 it was
38,935,000 bushels, in 1850 it reached to 40,744,000
bushels, and in 1851 it was 41,337,000 bushels ; but
there was no article of consumption which had increased
less than malt, which he attributed to the large amount of
taxation that was imposed upon it. (Hear, hear.) There
were some gentlemen, however, who entertained the
opinion that the decrease of this consumption of
malt, when compared with other articles of consumption,
was to be attributed to the circumstances of the taste of the
people having changed in favour of other sources of ex-
citement, but he was in a position to show that this posi-
tion could not be maintained. Well, then, under
these circumstances, Government thought it to be their
duty to recommend to the house that the malt tax should
be considerably diminished. (Hear, hear.) That they
should diminish it by one-half the amount of the present
duty. (Cheers.) The sum which they had to
deal with just exceeded 5,000,0001. as regarded
revenue, and they proposed that they should
diminish this duty exactly by one-half—(hear)--
that they should impose a uniform duty of ls. 2d. and 5
per cent. per bushel on the malt ; and Government pro-
posed that the restrictions which prevailed bet Ween malt
obtained from barley and malt obtained from what
was called big and bracken—(cries of hear, hear)—
They proposed also to do away with the malt drawback
in Scotland on the spirits raised from malt, that being a
change which they thought ought no longer to be post-
poned. Sir Henry Parnell, the chairman of a committee
appointed to inquire into the excise, statel in a report
which he submitted to the house, that if the corn laws
were repealed, he would recommend the reduction of
the duty on malt to one-half, and this came from
a gentleman who was very tender of the re-
venue, and who could not have anticipated the
circumstances which had since occurred The
same report also recommended the repeal of the
drawback on malt in Scotland. This had been done in
Ireland in 1842 without a murmur in accordance with the
recommendations of a committee on Irish spirits, and had
given general satisfaction, and he was sure the repeal of
repeal of the drawback in Scotland would give equal
satisfaction. They proposed, then, that on the -10th
of October next the malt tax should be repealed one-
half, that day having been fixed, after due deliberation,
at least inconvenient to the trade. They alsoproposed
on that day to take the whole stock of malt throughout
the country, and to allow a drawback to all holders of
it in proportion to the amount of duty abolished.
In submitting these propositions to the house
they were only following out the principle which had
been laid down, that in the present state of affairs they
should consider our taxation mainly in reference to the
great body of consumers ; and the consequence was that
they found the most legitimate and surest, and most
efficient means of relieving the agricultural interests,
He now came to deal with one as popular, and one sub-
ject to much heavier taxation. He was about to recom-
mend to the house to deal with the tea duties. (Hear,
hear.) He knew the prejudices which existed among
a certain class of persons upon the subject of the
tea duties. (Loud cries of " Hear, hear.") In con-
sidering this subject nothing had struck him so much
as the gradual growth of public opinion with respect to
this article. He had been much amused by reading a
passage in Mr. Pepy's Diary---" Took a cup of the new
China drink—very pleasant." (Laughter.) That article,
which was so great an exotic to that gentleman, was now
the principal solace of every cottage in the country. (Hear.)
It was said that in dealing with tea, it was necessary to
remember that it Was an article of limited supply.
Seeing that at the beginning of the last century we had
had imported 500,0001b5. at a high price, that even
under the charter we had imported 30,000,000 lbs per
annum, that our annual importation was now about
70,000,000 lbs, last year we had imported 71,466,000 lbs,
and our consumption in round numbers was 54,000,000
lbs,—after having consulted those, who from their posi-
tion, wealth, and otherwise, might be considered as great
authorities upon the subject, her Majesty's Government
had come to a conclusion that there could be no pro-
spect of any want of supply of tea to this country.
They must remember, that since 1841, the annual in-
crease in the importation of tea to this country had been
upwards of 1,700,000 lbs. The right hon. gentleman
then read numerous statistics, to show the great
increase which had taken place in the consump-
tion of tea and sugar of late years. Well, in
dealing with the subject of tea, the Government
were of opinion, that it would be perfectly vain
to attempt to make any difference, either between black
or green tea, or between tea of various qualities. (Hear,
hear.) If they had to do so, he was perfectly persuaded
that nothing but endless trouble would be thereby en-
tailed, and, therefore, he believed that boldness was the
wisest course. (Hear, hear.) He had been always of
opinion that the reduction of duties upon articles con-
sumed as beverages by the people, so faros they were of
a similar character, were not found to interfere with each
other. Of this he did not know a more striking instance than
that of coffee. The right hon. gentleman again referred
to official documents to show that, with the lowering of
the duties, the consumption of tea and coffee had simul-
taneously increased. Well, under these circumstances,
following the same rule as in the case of the sugar
duties—following a precedent which he thought had
been most successful, the Government had to propose
what he believed to be a very safe proposition, but
nevertheless what would seem a very comprehen-
sive one. The present duties upon tea were
2s. and 2s. Old. per pound, no distinction being
made between the various qualities of tea. The
Government proposed that these duties shouliike lowered
to is per pound. (Loud cheers.) And it lilts further
proposed that this reduction should be issued over a
period of six years--(oh, oh)—and that the reduction
for the first year should amount to 44d. per pound.
(Loud laughter from the Opposition benches.) He be-
lieved that hon. gentlemen might be folind to be a
little too precipitate in their laughter. Considering the
amount of the reduction to be made, it was quite
impossible that the consumer could desire
the benefit of it before some considerable period,
and until the growth of tea in China had largely in-
creased, the revenue could not derive much advantage.
Therefore the interest of the consumer, in the opinion
of Government, Was in the end best promoted
by making the reduction gradual. (Hear, hear.)
The- consumption of tea last year was 55,000,000 of
pounds, and he had only taken 60,000,000 as the con-
sumption under the reduced duty ; that was an increase
of 6,000,000 pounds ; but looking to the increased con-
sumption of the present year, it would only be a virtual
increase of 3,000,000 pounds. This reduction they could
make with perfect safety to our finances. Well, then,
they proposed to reduce the tea duties in the first year
by 4f d. per lb., and every year afterwards to
make a reduction of 2d. per lb. until the duty be-
comes is. per lb. (Hear, hear.) He believed if
they adopted that measure there would be but little de-
crease in the revenue, while the people would be able to
obtain a favourate beverage at a cheap rate, and in a
manner which would tend greatly to increase the nianu-
fpeturing and shipping interest of the country.
(Cheers.) There was another duty which he was
about to deal with that was connected with this
branch of the subject, and which, perhaps, he
ought to have adverted to before. He referred to the
hop duty. (Hear, hear.) There were two duties now
levied upon hops, namely, the duty that was established
in the time of Queen Anne, and the duty that was im-
posed at the period of the late war. Those duties were
almost equal in amount. In round numbers they amounted
to almost id. per lb. each, and what the Government pro-
posed to do, was to abolish the whole of the war duty which
had always been a most unpopular one. (Hear, hear.)
At present they did not propose to take off all, but
surely something must be left for future statesmen to
deal with. (A laugh.) There was a point of some im-
portance in connection with this subject which he ought
to touch upon. He was recommending all'ihese mea-
sures upon the principle or understanding that the reve-
nue of the country Was to depend upon the consuming
power* of the people, but it has been said, of

the propping up of a prostrated industry, which, it ap-
peared was commrnding the markets of the British me-
tropolis, or could ask for a differential duty under circum-
stances such as these ? (Loud cheers from the Opposition.)
Certainly such a duty could not bo asked for while
an object, and if that object were to give a stimulus to
the colonial market, it appears that that object had al-
ready been gained. To ask for a guarantee for a loan
for the purposes of promoting immigration and the ge-
neral improvement of the country was an object in which
her Majesty's Government would readily join, but he
believed he could show that they had not been slow in
this respect. The subject of the immigration of Chiaese
labourers to the West Indies was one which had been
urged on the consideration of the Government. The
right hon. gentleman proceeded to read a dispatch which
related to the efforts made by ehe Government Commis-
sioners to promote immigration, and from which it
appeared that emigration ships had been dispatched
by the present Government, and that the island of 'Tri-
nadad was about to import fourteen hundred labourers.
He also referred to official documents to prove that the
sums already allotted to the West India Islands, for the
purpose of promoting immigration, were still unexhaust-
ed. Now, that being the case, how could her Majesty's
Government be justly called upon to propose any fresh
loans to encourage emigration to our sugar-producing
colonies (hear, hear) although he believed that
there was now at length a chance in the
case of Trinidad, of the whole sums allotted to them
being required. (Hear, hear.) He now came to the
fourth point, which had reference to the bonded—
refinement of sugar for home consumption as well as for
exportation. He had given the subject his most
earnest attention, and he remembered of old that
his late lamented friend, Lord George Bentinck,
had also most ably investigated the question.
No doubt, herein a very great boon might be conferred
in the sugar producing colonies. He did not think that
he could put the case more clearly before them, than by
supposing the year 1854 to have arrived, when all the
differential duties on sugar would cease. It had been
represented to them, that the saccharine matter
in the foreign sugars, which was unrefined,
was so much greater in amount than that
contained in the colonial sugar ; that it had
amounted to as great a difference in the case of the West
India colonies as between 90 and 75 ; and in the case of
the coarse East India sugars, to no less than between 90
and 60. Well, what was asked was, that the refining
process may take place in bond, and that the duty
might be taken upon sugar in this state
rather than in the coarse state. (Hear, hear.) There
were objections, no doubt, to that arrangement, con-
nected with the revenue of the country, but he did not
think considerations connected with financial arrange-
ments were sufficient to resist the claims which
the present position of the colonies had upon
them. (Hear, hear.) They had here an opportunity
of conferring upon the colonies a great boon—a boon,
too, consistent with the principles of unrestricted com-
petition. The Government was prepared to concede that
boon, but, of course, it must be conceded subject to
those conditions which were necessary for the
security of the revenue. (Hear, hear.) He should not
then allude to the, subject of molasses, or to
the duty on rum, because he did not believe the moment
apposite. He would Row refer to another point of 6he
local taxation of the country. It was unnecessary for
him to enter into any of those arguments with which
the house was so familiar, as to the local taxa-
tion of the country to show that there were
objects of universal interest, which were, in fact
sustained by taxation, not upon the general property--
but upon a peculiar division of it. (Hear, hear.) The
whole question had been dealt with so ingeniously by one
who, though opposed to his (the Chancearof the Exche-
quer's) policy, still had treated this subject in the most lucid
manner--he alluded to Mr. Lewis. It could not be contended
that the support of the poor was a matter of general,
nay, universal obligation, and he thought, as far as the
principle was concerned, the complaint on this head of a
portion of the real property interest of the country
which had suffered most by recent legislation, was ex-
ceedingly well founded. (Hear, hear.) There could
hardly be a difference of opinion about that. Well,
then, in the next place they had to consider what was
the course to be taken with reference to that part of our
taxation which was mainly levied for a purpose of
general interest, but which was yet not levied upon the
community at large. The local taxation of the country
was a subject with which they were all familiar ; it
resolved itself, in fact, into three principal rates, namely,
the Highway Rate, the County Rate, and that great
rate called the Poor Rate. (Hear, hear.) Upon
the subject of the Highway Rate no less than
six acts of Parliament had already been passed for
improving or mystifying its operations, and now
with the assistance of his hon. friend the Under Secre-
tary of State for the Home Department, who had di-
rected a good deal of attention to the matter, he was
prepared to bring in a seventh bill, which he hoped, after
the six experiments which he had alluded to, this mea-
sure would prove satisfactory to the house and the
country. (Hear, hear.) He came next to the county
rate—a small rate certainly, but still one which
had excited a good deal of interest in connection
with agriculture, and here he had no hesitation in
declaring, on the part of the Government, that
with reference to the collection and administration of
this rate, they had no objection whatever to the adoption
of the representative principle, if it should be the
opinion of the house that the rate-payer was
entitled to that control over the expenditure of
the rate ; but there were two items in the
rate to which that popular principle could not be
well applied. He alluded to that portion of the rate
which was diiected to the maintenance of gaols and
lunatic asylums, but the time was rapidly approaching
when the house must be called upon to deal with
the whole question of punishments, for he thought it
was becoming the most pressing question of the day,
and probably that would be the proper opportunity for
dealing with this porition of the rate,
.as well as of
requiring the Government to take a more active
part in the management of our gaols. (Hear, hear.)
As regarded the county rates ; he therefore said
frankly, he was not prepared to recommend any
change in that portion of our local taxation. (Hew.)

late, that the consuming power of the people was
rapidly improving. Therein economists had made a
mistake, however, in this respect, for no evidence had
reached him in his official capacity which could tend in
any way to support that opinion. (Hear, hear.) But,
probably, the opinion was based upon the extent of
emigration that had recently been going on. (Hear.)
It would be found that there was a greater amount of
emigration in this country than was balanced by the
number of births. In 1849 the emigration amounted to
300,000 persons ; in 1850, 280,000 ; in 1851, 335,000,
and in 1852 (three-fourths of the year) 332,000 persons.
The births registered in England and Wales in
1852 were 600,000, and the deaths 400,000; as
the births exceeded the deaths by 200,000, it
followed that the emigration exceeded the super-
fluity of births by considerably more than 100,000.
If, however, the returns were analysed it would be found
that such was really not the case. In the first place,
the returns only contained England and Wales • in the
second, two-thirds of the emigration proceeded from
Ireland, which did not figure in the population returns.
The emigration from Ireland was produced by the social
system, which was broken to pieces by the misery of the
people ; in England it was produced by circumstances
exactly contrary. The people of England were
never better off ; but foreign inducements had led
them to seek better fortunes than they experienced here.
The emigration from England and Wales did not in fact
exceed 100,000 as against 200,000, which was the addi-
tion to the population by births. His own opinion was,
that emigration, instead of diminishing, increased the
consuming power of the nation. Every emigrant from
England became an English colonist and an English
customer—(hear, hear)—Land our markets were stimu-
lated by that very circumstance which was looked
upon as a sign of decay and dissolution. (Hear, hear.)
With respect to Ireland, he was compelled to arrive at a
similar conclusion. Though we had lost in that country
a million and a half of population, there had been no
proportionate diminution in the revenue. It was his
opinion, that the consuming power of a people did not
depend upon their numbers, but in their condition,
and he was persuaded that as Ireland was a
much richer country, its consuming powers would
not only be maintained, but would increase.
There appears to be .an apprehension that the rate of
wages was increasing. For his own part, he must say
that he had not yet received evidence of such an extra-
ordinary rise in the wages of this country. But there
was another question, and that was the rate of interest.
It might be that the employer of labour paid more for
labour than he had done before, but it was certain that
the employer of capital obiained his capital at a less rate
than he had ever done before. (Hear.) The hon. mem-
ber for Wolverhampton said the other night that the
discovery of gold had not affected the commerce of this
country any more than the increase of any other
article of consumption ; but he could tell the honour-
able gentleman that, besides this, it had had
the effect of confirming credit in this country, and
thereby immensely tending to the employment of the
people. (Loud cheering.) His own opinion was
the present rate of interest would continue. The
reduction which he proposed amounted in all to about
to between three and four millions sterling, the reduc-
tion in the malt tax being about 2,500,0001., in the hop
duties 300,0001., and in the tea duties 400,0001. He
must remind the house that, though this was
now only December, in a few months one of
the principal sources of the revenue would have
ceased, and that if they supported the propositions of the
Government they would, in addition, have to deal with
the consequences of an expiring law, which produced
5,000,0001. of revenue to the Government ; and it
would then become the duty of the House to decide
what they would do with the property and income-tax.
The right hon. gentleman then read an extract from his
last year's speech on introducing the budget, which was
to the effect that the views which he had at present
entertained on the subject of direct taxation were not
inconsistent with those which he had formerly pro-
pounded. He was clearly of opinion that if they were
to have recourse to direct taxation, that it should be
general. (Hear, hear.) How far that course would be
practicable it would be unfair to consider ; but certain
it was that the theme of establishing direct taxation
upon a large system of exemption was clearly a
pernicious one. (Hear, hear, hear.) Well in
laying down the views which he entertained with re-
spect to the property and income-tax, it was plain that
the house must be struck with one very large exemption
which attended that tax. That was one which he was
bound at once to notice, and that was Ireland. Last year,
he had made no reference whatever to Ireland, because
he believed that the arrangements which were then pro-
mised, were only of a temporary nature. But having
now to consider the subject more intimately, he deemed
that he would be acting inconsistently with
his duty if he were to evade the subject. (Hear, hear,)
Sir Robert Peel, in his financial statement of '42, when
he first introduced the Property and Income-tax, pro-
posed to place upon Ireland, as an equivalent for
that tax two others. There was to be an increase
in the duties on spirits, which was estimated to produce
250,0001. a year ; and there was to be an increase
in the stamp duties on matters affecting pro-
perty, estimated at about 160,0001., both together
being estimated to produce 410,0001. That was the
equivalent which Ireland was to contribute to the
revenue, in lieu of her portion of the property and
income-tax. Now, though he was upon all occasions
anxious to avoid making unpleasant observations
to hon gentlemen, yet he could not help remind-
ing honourable members from the sister country
that the expectations held out had not been realised in
reference to Ireland. For the produce of these taxes
had fallen infinitely below what had been looked for.
The state of Ireland had now a ray of hope, and as far
as he could form on opinion, he thought he might ven-
ture to speak of Ireland, without using the language
of despair, in accents of desolation. (Hear,
hear.) He asked the house to permit him to
place before them returns of the poor law
taxation of Ireland. (Hear, hear.) He did not want
to insult any gentleman by showing him that his
country was not ruined—(a laugh)—but all he was
anxious to do was to fulfill his duty by stating to
her Majesty's Faithful Commons the conditions of
the whole kingdom . (Hear, hear.) Well, then, the
poor law expenditure in 1850 amounted to the enormous
sum of 1,320,000/. ; in 1851 it was reduced to
1,129,0001. ; and for the year ending the 29th
of September, 1852, the poor law expenditure
was reduced to 855,0001. (Cheers.) The decrease in
the expenditure of 1851, as compared with 1850,
was in amount nearly 200,0001., is at the rate
of fourteen per cent., the expenditure of 1852
as compared with 1851 was in amount 274,0001.
or at the rate of 24 per cent., and the decrease in
the expenditure of the year just concluded as
compared with 1850, was not less than 465,0001.,
or at the rate of 35 per cent. (Loud cheers.)
Nor was that all, for he had just received a return from
Ireland of an official nature, which conveyed to him the
gratifying intelligence that Ireland was in a position to
maintain her own poor without receiving any assistance
from any quarter, and he thought with these facts
before them they ought not altogether to despair
of the condition of the sister kindgdom. (Cheers.)
He did not think himself that it would be wise or right
to treat with any harshness the men of Ireland. He
rather was disposed to say that they should do as much
as possible to assist that " wise, just, and beneficial" change
which had recently taken place in Ireland. (Laughter.)
he did not think it expedient to throw any obstacle in
the way of the regeneration of that country. (Hear.)
Yet the Government intended to recommend the exten-
sion of the Income-tax to funded property and salaries in
Ireland. (Loud cries of hear, and great sensation.) With
respect to the property and income-tax there was another
principle which the Government were prepared to assert,
namely, to acknowledge a difference between permanent
and precarious incomes. (Cheers.) Notwithstanding the
large remission of taxation they had recommended,
which amounted to 3,500,0001, and which would relieve
the consumers of the country to a much greater extent,
it was not the intention of the Government to recom-
mend any increase in any of the schedules of the Pro-
perty and Income-tax. (Hear,) They proposed to fix
the point of exemption on industrial incomes at 100/.,
and on incomes arising from property, at 501. (Sensa-
tion.) As regarded schedules for realised property, he
proposed that the tax should be 7d. as heretofore.
and to reduce the tax under schedule to 51d. The
result of all would be including Ireland, would be the
average of the last three years, being 4,961,0001.
[Left Speaking.]
[The conclusion of the Chancellor of the Exchequer's
Speech will be given in a Later Edition.]

(DEFT SPEAKING.)

THE LONDON GAZETTE.
(THIS EVENING.)
WHITEHALL, DEC. 2.
The Queen has been pleased to direct letters patent to
be passed under the Great Seal, granting the dignity of
a Knight of the United Kingdom of Great Britain and
Ireland, unto Charles Robert Mitchell Jackson, Esquire,
Puisne Judge of the Supreme Court of Judicature at
Bombay.

BANKRUPTS.
Richard Collsf builder, Charlton, to surrender, Dec.
10, at half-past twelve, and Jan. 13, at two, at the Court
of Bankruptcy. Johnson, official assignee, Basinghall-
street ; Sole, Turner, and Turner, Aldermanbury.
John Edward Spicer, paper manufacturer, Guildford,
Dec. 15, at eleven, and Jan. 22, at twelve, at the Court
of Bankruptcy. Nicholson, official assignee, Basinghall-
street ; Ivimey, Chancery-lane.
Richard Eaton Noble, painter, Down-street, Picca-
dilly, Dec. 14, at one, and Jan. 21, at twelve, at the
Court of Bankruptcy. Stansfeld, official assignee ; Col-
lins, New Bridge-street, Blackfriars.
Thomas Corby, builder, Lower Eaton-street, Pimlico,
Dec. 14, and Jan. 18, at one, at the Court of Bank-
ruptcy. Graham, official assignee ; Rixon, King Wil-
liam-street.

Daniel Coe, grocer, Ardwick, Manchester, Dec. 17,
and Jan. 7, at twelve, at the Manchester District
Court. Lee, official assignee, Manchester ; Higson and
Robinson, Manchester.
Patrick Cowan' brassfounder and gas fitter, Skinner-
street, Snow-hill, Dec. 14, at two, and Jan. 13, at eleven,
at the Court of Bankruptcy. Edwards, official assignee ;
Appleton, Philpot-lane.
Henry Capper, licensed victualler, Gravesend, Dec.
and Jan. 22, at half-past twelve, at the Court of
Bankruptcy. Nicholson, official assignee, Basinghall-
street ; Wilkinson, Gurney, and Stevens, Nicholas-lane.
Richard Jones, hatter, Oswestry, Salop, Dec. 16, and
Jan. 13 following, at eleven, at the Birmingham District
Court of Bankruptcy. Christie, official assignee, Bir-
mingham ; Hodgson, Birmingham.
Charlotte Julia Pickford, upholsterer and fringe and
tassel manufacturer, Cheltenham, Dec. 14 and Jan. 11,
at eleven, at the Bristol District Court. Acraman, offi-
cial assignee, Bristol ; Bevan, Bristol.

to the fullest extent the now firmly established 's
tem of unrestricted competition. Foremost 3131
all the evidences of this intention on the pat 4
the Cabinet, was the explanation thereupon?.
by Mr. DISRAELI, that the Ministry are deflilltis
prepared to deal with the Malt-tax. The Pref..
th
• i-s
sition now submitted to the Legislature isl
that the duty upon malt should be eensiderone.
remitted—that, in fact, it should be reduced ait
half—while the drawback upon malt should
re'
Scotland (as had formerly -been done ill J
land) be altogether foregone. It had L';io
asserted long ago that the abolition of
of
duties on corn would necessitate the remissionn
the duties upon barley. That remission bad, to
become inevitable. It was undoubted, saliato
Right Hon. Gentleman, that an increase 110,540
perceptible since the establishment of the
of unrestricted competition, the sum 002
1150,
in 1849, 38,935,000 bushels, in yet
40,744,000, and in 1851, 40,337,000-,,in
it would be but fair that Free Trade shoo:tient
this instance, be carried out to its fullest Do
in this particular, and therefore it has fl°'W tot
proposed by the CHANCELLOR of theExoHEQlo7.id.
the Malt-tax—now levied at the rate of
—should be reduced one half, namely, to 15.'1,
and that the• new system should come into °reo
tion on the 10th of next October. illePool
subject treated of by the Right Hon. Gentle
000 f
wasthe question of the Tea Duties. The redn4Ltle
of the malt-tax one half, must of course, try
sisted, benefit the consumer considerabb 1,1
placing within his reach cheap beer, it woullorf
encouraging the cultivation of barley matelp
improve the condition of agriculturists. atj,
reduction of the Tea Duties, he conteilol
must not less signally benefit the consume r
the importer. In his reference to this pro Foe
00l
diminution he made facetious mention of the
;rs.,
praise of the china plant by PEPYS in his "I), jig.l
and then specified that the imports of Tea fts
reached 71,466,000 lbs. The probable ir°ll,o
of the current year, ending on the Ist of 04
January,would amount to full 57,000,000 .03
At present the duties on Tea illaTyo
stated at 240 per cent. or 2s. 21c1. per lb. 0,01
duties the Right Hon. Gentleman now Pre?. 011
to reduce very considerably. He had Prev,l'io)
remarked that it would be unwise to deali.oB.
small manner with the Malt-tax. He s jloP6
quently suggested that the old war duty ell iv
should be simply and at once remitted.
kindred spirit he now unfolded his plan in re AO
to the alteration of the tax imposed Pet
Tea. Instead of maintaining those dwia es ,d 1'
2s. 21d., he would suggest that they shot'
reduced during the next six years to is."' 10
,
in the first year by 4kd. [should it not be .31(14
and in each of the five years afterwards bYsidi
until it is reduced to Is. as proposed. ItA
be especially borne in mind, that this redtif $ll
to is., applies to teas of all kinds, to teas °ol*
qualities, to black and green indiscriminaf tis
Turning to generalities, the CHANCELLOR (1,4 r
EXCHEQUER next spoke of the powers of the
lar consumption upon which the revenues or
mainly dependent. Those powers of eolls)
tion he regarded as visibly on the inerease.„
conviction which he more clearly defined iv
reasonable by reference to the annual bird 'tot
England and Wales, and to the circumstance
the principal immigration had been from Irei b 6
v,
The rise in the rate of wages he considered 5 0
advantageous to the country, instead of beill,
~101
was sometimes pretended, altogether disasditrtiao
Meanwhile, there was the flourishing con di
of the rate of interests--,and the Ell',
rate of interests he distinctly avowed WS COl
tion would continue.
0`
Recapitulating briefly the measures prop ca'
to ,be carried out by her MAJEsTY's
vernment, the Right Honourable Ge 01
man reminded the House that they sliggc 0
the remission of 2,500,0001. through Ts
Malt Duties, of 900, 0001. through the
Duties, of 300,000/. through the Hop
—altogether reducing the revenues of the CO v,;001,
by a sum of between 3,000,000/. and 4,000, v
Bearing this in remembrance, we seemed to fli°
naturally enough to the consideration °''i3Oes
tax imposed from year to year upon in' ;of
and property. That tax the CHANCEL -et
the EXCHEQUER maintained upon a I°lo°
occasion in the House of Commons, ought nt
admit of any exemptions. Repeating this fl ctif
tion in his Budget, he now yet more distin 01(1
insisted that the Property and Income-tax
be general ; and in the enforcement of thi,s,P',o
ciple, and in the development of the dye
just, and beneficial" measures known as 01 4,
measures establishing the system of unrean,
competition, he now demanded the extelisi()-r
a
the Property and Income Tax to funded Pr jolt
ties and salaries in Ireland. Turning ill 6of
of episodical manner to the consideransoli'
the 240,0001, per annum, known as the 033 re
dated Annuities, the Right Hon. Gentlenlaj 1.4
marked that the Cabinet were not Pre'. tile
to accede to the recommendations fr°l32 f hog
House of Lords' Committee, thougltste
meditated bringing forward some Ww...„,itfr
rial suggestion at an early oppert' he
Having explained this matter incidentailY'4
reverted
,to the subject of the Propertyit
Income-tax—observing that besides extending 0(1,
to the founded property and salaries in Ire° 0,
Minister were preparing to recognise a diliv"
between permanent or realised incomes of
incomes simply precarious. In illustratleeg
his meaning, and after distinctly aulleliv Wig
that there would not be a preponder7 ho
increase in any schedule, he explained that
would henceforth consider the exeraPtillo,9l'
industrial incomes to commence at,_ JP°
per annumn, and the exemption n`
incomes on property at 501. per 53;12,'
Schedule A and C continuing 7d., reducing 6 id'
dules B, D, and E, to the rate of merely f
Estimating the proceeds of the extension
010'
Property and Income Tax to Ireland at the fool
dent sum" of 60,0001., he considered that thecaph
total would be, under the new arrange; r, r,
somewhere about 5,421,000. Meanwhile ha 11
called to the recollection of the house that 'nig 6
suggested measures which would reduce the rell d t 9
by an amount exceeding 3,500,000/. -4-d",.,euey
this, came the increased expenditure eonse`ltion
upon the development, or rather orgallitriio
of the national defences. Remy 0-kf''.
these facts, it became his duty as
THE EXCHEQUER to allude now more
~nrje
cularly to the necessity for supplying clonal ' /
flu 014
[To be concluded in a later edition of

ANGE—Taig PAt' --,
Gibra1tar.........• • • ' ' 30 %
Leghorn „ , ..... 0 "
Genoa .......• •••• • • '. --•
iMilan .... .... .... ... .••• ' • • • --; 0
Venice ..... " • "i
Naples ..... ,„ .• • • 19-
Palermo „, ~ ~ .....• " ilisi 4-
Messina . • • "•. .•
- 4
Lisbon .
Oporto .............• • •
Rio Janeiro.... • • • • ' • ..
--
Buenos Ayres ... •"• • • --
New York,6o day's sight --
Philadelphia ••• • "" ;:gs ()%g
?mem OF EIILLIOP9,2 a
0
Foreign Gold in Barg ,) 0 v,
Portugal Gold Coin • • 0 ;
Spanish Doubloons • •
New Dollars.• •• '1 0 0 °-
Silver in bars ••• • • •
___,,,oe