The Sun.
London, England, 1852-04-30 00:00:00

FRIDAY

UN,

LONDON,

authority of authors of the highest repute, and he him-
self thought it was one of considerable benefit.—
(Bear, hear.) But if there was one side of

. _
he House which thought Customs duties injurious and

another side of the Souse, who also repudiated Excise
duties, what was the prospect of a Chancellor of the
Exchequer if his means of supplying a deficiency
were limited to these two expedients only? But

gentlemen on the other side of the House,
though they objected to Customs duties par-
ticularly, had also a similar objection to Excise
duties, and when he looked to the catalogue of the suc-

useful measures which had been made within the last

ten years on this branch of the revenue, be found that
they had reduced the duties on vinegar, auctions, glass,
and bricks, by which a sum of nearly 1,500,0001. was
struck off the revenue. Bat this was not all; only this

day week a Right Hon. Gentleman, once a member of
the late Government, and a member of that

confederation which of late years had exer-

cised so important a control over the financial po-
licy of the country, had come forward to propose a re-
peal of the Exccise duties to the amount of at least
1,400,0001. Under those circumstances the House would
agree with them that not only withregard to Cus-
toms duties, but also with respect to Excise duties, a
Minister who should propose to supply any deficiency
by an increase of them, would embark in an enterprise ex-
tremely difficult. But the difficulties of an individual in
his position were not limited to those two branches. They
heard a great deal in that House, Etpecially from Gentle-
men opposite, on what they called raising a revenue by
direct taxation.—(Opposition cheers.) He welcomed that
cheer as showing the attention which Hon. Gentlemen
opposite would pay to him on this subject, and he felt
himself favoured by it; but he thought that when he
came to go further into the details of the matter he
should not have the adhesion of Honourable
Gentlemen opposite so welcomely given. Within
the last ten years the House and the country
had had considerable experience with regard to this
third mode of taxation. It was exactly tea years ago
since one of the most distinguished statesmen of modern
times, who had had a great share in the reduction of
customs and excise duties, to which he had alluded, first
introduced the measure which entailed a considerable
weight of direct taxation on the country. Every one
must remember that that tax was introduced into the
House apologetically as a measure necessitated by an exi-
gency framed for an emergency; and even under these
circumstances the House would not consent to it, with-
out its being framed on a large basis of exemption.
There was no evidence then either in the House or the
country of any great feeling in favour of direct taxation.
Despite of the great talents of its framer, it was only
adopted afier considerable discussion, and before the
end of the ten years it had become so odious
that its existence was only renewed upon the
severe condition of being submitted to the critical ecru-
tiny of a Committee up-stairs. So far then as
direct taxation was concerned, the conduct of the
House and the country had not been any more
encouraging than it had been with respect to
the other modes to which he had alluded.
Ho had hoped before being called upon to
make his statement to have had the report before
him of the Committee on this tax ; but, as he had
not, it would be presumptuous to give any decided
opinion on those points which were under the con-
sideration of that Committee. (Hear, hear.
One great objection to the tax upon property and in-
come was unquestionably. that there was no difference as
to the mode and rate of assessment upon incomes of
a temporary and permanent character.—(Hear.) Now
that important question was now submitted to a Com-
mittee, and, as he had said before, it would be arrogant in
him to give an opinion upon the subject.—(Hear.) But
they had received the completest evidence from the ablest
men of the age, who had made the principles upon which
this tax was based their direct study, and who had
brcught to bear upon it before the Committee all that
science and learning could accomplish, and although he
could not presume now ito enter into a discussion of the
justice or injustice of the income-tax ; yet he could
say, that if al the precautions of these eminent
actuaries were adopted, he should still be painfully
sensible that Schedule A, Schedule B, and Schedule C
would nevertheless be quite as odious as Sche-
dule D.—(Loud cheers.) Well, then, in con-
sidering this system of raising revenue, he could
not shut his eyes to the fact, that the
feelings of the people must be considered
as well as the principles of scieece.—(Hear, hear.)
But there was another point upon which he
could speak with more frankness, relating to
the tax upon property and income. He had not pre-
sumed to give an opinion upon the justice or injustice of
this method of raising revenue; but there was one point
upon which the Committee was unanimous, and upon
which he believed both the House and the
country were unanimous that be could advert to it
without hesitation. A tax of this nature, if it was to bo
rendered permanent, could not rest upon a system of
exemption.—(Cheers.) No doubt, direct taxation in
theory was a simple, easy, and captivating process; but
when they wished to apply direct taxation gene-
rally it was astonishing what obstacles and objections
now raised against it, and yet a direct tax of this nature
to be tolerated must be rendered universal.— (Hear,
hear.) The palace and the cottage must pay its equal
proportion, but here the House would see again that no
system of direct taxation could be rendered so universal
as indirect.—(Hear, bear.) No doubt a tax of this
nature, established to meet an emergency or a temporary
purpose must be based on a large system of exemption;
but though a direct tax of this nature might be imposed
for the sake of promoting industry, without looking to
the financial consequences of such a system, they could
not but feel that, in the long run, coupled as it must belwith
exemptions, it was little less than a system of confiscation.
avowedly as a temporary measure, but in speaking of a
system of advance, and when a tax like that under discus-
sion was at issue, it became absolutely necessary to
consider its features.—(Cries of " Hear, hear.") For
the last two years, then, the Minister had been com-
pelled to go as it were upon his knees to
the House of Commons to seek a continuance of
this tax, while last year the Exchequer was deprived
of two millions by the repeal of the window-tax,
which was asked for on sanitary grounds.—(No, no.)
He should be able to show this if the House would
bear with him, as well as that the sanitary objects
contemplated could have been accomplished without
the repeal of the tax.—(Cries of "Hear, hear.")
He thought he should have no difficulty in showing
that, lest, perhaps, those who disputed the
amount lost to the revenue were thinking of
the house tax, which was substituted for it,
It was in fact making war upon capital which ultimately
must employ that very industry which was sought to
he relieved and encouraged—(hear, hear)—and yet a
tax framed with all the precautions which he had men-
tioned had met with great odium, and was still admitted
to be unequal and unjust. In saying this he was raising
no objection to the Minister who introduced it,
The Committee would be at least of opinion that the
difficulty of raising the revenue was not confined to
custom's duties and excise duties, for if any attempt were
made to exercise a direct system of taxation on any
principle calculated to produce a permanent effect, it was
stopped by prejudice and remonstrance. Everyone
looked upon a Chancellor's surplus as a thing for prey
and plunder.—(Laughter.) In the general scramble,
every one wished to obtain his purpose, and no
one looked to the future. The inevitable danger
impending bpon the finances was that while all
demanded relief, some laid down principles which
would prevent the imposition of taxes or
any shape whatever. The events of ten years showed
this result—that the House of Commons disapproved of
all the means of taxation, viz., duties on imports, direct
taxation, and Excise duties. We would now call the at-
tention of the House to the income and expenditure.
(LEFT SPEAKING.)

MARKET INTELLIGENCE.
(From the London New Price Current, April 30.)
SUGAR.—To-day the supply of West India Sugar at market
was far from sufficient for grocers or refiners wants ; the sales
in consequence were only 189 hhds, &c., at stiffer rates. For
the week, the quantity sold is 4,890 hhds, &c, and the advance
Is per.cwt.
REFINED.—To-day there was more activity in the home
trade Refined market, and it is difficult to obtain brown
lumps under 45s 6d per cwt. The export demand for Crushed
Sugar is evidently on the increase, and former terms are well
supportedc
MAURITIUS.—This afternoon the quantity of Mauritius
Sugar submitted to public sale amounted to 17,600 bags, 70
casks. The demand was brisk, and the whole sold at full
rates; indeed, in some cases, the advance on Tuesday's prices
was Cd per cwt ; fine yellow realised 36s to 375 6d, good 34s
6d to 35s 6d, low to mid 32s to 345, good to fine brown 29s to
31s 6d, very ord to mid 24s to 28s 6d, and grey sorts 32s
to 365.
EAST Ix-DlA.—This afternoon the demand was again active
for Bengal Sugar, and a rise of Gd to is per cwt took place.
At public sale 11,300 bags were sold; Benares, good to fine
went at 35s to 38s Gcl, low to mid 333 to 345 6d, damp and
washed 32s to 375, fine greyish yellow 32s to 335, ord to mid
like Mauritius 31s to 335, Khaur 24s to 25s 6cl, and fine
brown 26s to 275. The previous currency is well sustained
for Madras, with many buyers. At auction 1,540 bags were
sold ; mid to good grocery 33s 6d to 375, ord 32s 6d to 335,
soft brown 24s to 25s 6d, and ord yellow do 26s to 26s 6d.
FoREIGN.—To-day several parcels of Brazil and yellow
Havannah were sold privately for shipping, at full former
rates. None was submitted to public sale, and the market
closes with a firm tone.
MoLassLs- .—There are several buyers of West India, and
stiffer rates offered. Prices for Barbadoes and Antigua rule
at 13e to 14s, and other sorts 12s to 12s 6d; Bengal and
Mauritius in small parcels realised 11s to 12s, Cuba and
Porto Rico 13s to 13s 6d. Honey, good to fine Jamaica 48s
to 545, ord low to mid 38s to 463. Tamarinds remain in good
request. Sales of East India made at Os 6d to 12s; West
India at 24s to 345 per cwt.
CoFFEE.—This afternoon there was less business done in
Native Ceylon Coffee. By private treaty 1,500 bags changed
bands. Of 147 casks 344 bags at auction a part found buyers
at 43s for good ord. Plantation Ceylon is less wanted,
but the previous value is generally sustained. Of 500
half6oo obfa
casks 100 bags at auction about one-half sold; low mid
to mid went at 54s to 573, fine to fine fine ord 49s to 535,
bags went
51 balesfo
for fine
ehfianl
triage 38s to 465, and pea berry 63s to 655. Mocha was
held for full rates, but attracted little attention, and barely
and 324 frazils sold at 70s
taken ing6
to 815 for ord togood mid yellow clean garbled. Of African,
went gat 40s for good ord. 30 brls Jamaica were
COCOA. _There is improvement in the demand
for ere not the least
halt-bales
e
for foreign, and supplies larger than previously ; at auction
1,500 bgs Para were taken in at 25s 6d, end 283 bgs Bahia
24s to 255. The value of Guavaquill is 283 to 295. For
West India privately several parcels have been sold at rather
higher rates, Trinidad fine red realizing 39s to 445, good 36s
to 3Ss, ord to mid 325 to 355, grey 28s to 325, Grenada and
St. Lucia 2Ss to 31s per cwt.
TEA,—To-day Tea was brisk, and there are few sellers of
good ord sound Congou under 91/.,d.
RlCE.—There was no rice at auction to-day, and few sales

privately. 146 chests of Sago were taken in at 23s 6d for
good white large pearl, and 626 bgs Sago Flour sold at 14s.
SPICES.—There is still a small supply of Pepper, and at
previous rates several purchases have been made privately ;
Malabar realising 3',7d to 4 V, Sumatra and Penang 33/4 d to
3-Ad. At auction 423 bgs of the former sold at 3%cl for
half heavy. White is yet much in request; the rates
paid being from 81i,d to lid; few parcels are yet on
offer. Cayenne continues to meet with little attention,
and there is a fair supply. At auction 110 bxs were sold at
7-0; 6 pkgs West India Is 9d to Is lid per lb. Pod is
cheaper, and a small portion only of 118 bgs sold at 39s to
50s for low to good. Cassia Lignea are with little notice. At
auction 63 cases sold ; pile one at 120 s, ditto 3 114 s to II Es,
ditto three 110 s, mouldy 107 x, and broken 93s per
cwt. In Pimento several purchases made privately at
4/7d to 47/Bd, and the market has a firm tone. A
public sale of 201 bgs went at 43/4d to 4%d for mid to good.
Of Mace supply is not adequate for the demand; prices for
first sort rule at 2s 3d to 23 6d: other sorts is 10.1 to 2s 2d.
At auction 10 cases damaged reolized is 4d to is 2d. Pre-
vious rates are well sustained for Nutmegs, supply being
small, and a good demand existing. Sales privately of
fine and good brown made at 2s 8d to 3s Bd, and
common to mid 2s to 23 7d. At auction 12 cks
Dutch limed sort at is for wormy, and is 8d to is 9d for
mid. The value of better scrts is is 10d to 2s 4d. Of Cassia
Buds none yet in first hands. Cassia Vera is wanted at 505
to 1,645, and yet in scanry supply. Cinnamon is not
cheaper, and inferior sorts are wanted; in better kinds I
little is doing. Prices for Ceylon, first sort rule at
is 10d to 2s 3d, seconds is 4d to 2s 3d, third and fourth
is Id to is Bd. The quantity declared for auction
is 1,603 bls Ceylon. Cloves are wanted ; Amboyna 7d to Bd,
Penang lid to Is 2d, and Bourbon 6d to 61/2d. In Ginger
there is more business . doing, and at stiffer rates. At auction
197 cases Cochin realized 56s to 58s for good, low mid to mid
33s to 42s 6d ; 280 bags African 253 to 26s 6d. Privately
Jamaica has been selling at from 42s to 4205, and fine 140 s to
1205 per cwt.
FRUIT. —A very large business has been done in Currants
at better prices ; new at 30s to 365, and old 24s to 265. The
demand for Valenta Raisins continues dull, notwithstanding
the low price, Valentia being 27s to 285, Dania 22s to 235.
In Dluscatells a fair business doing. The few Turkey Figs
higher prices.
in the market, principally in second hands, are held for
SmniTs.—There is a dull sale for East India Rum, and
is 3id to is 4d per gallon proof is now the value. Leeward
Island can be obtained at is sd. Demerara is offering upon
low terms, and Is lid to 2s 2d is the value of 30 to 42 over
proof. Jamaica has been operated in with reluctance, es-
pecially for home consumption. The supply is undiminished,
and there are free sellers of choice sorts 35 to 38
over proof at 3s 4d to 4s, fine ditto 2s 10d to 3s 3d, good mid
to good 32 to 34 over 2s 4d to 2s 9d, mid 2s to 2s 3d, and low
34 to 30 over is 10d to is lid per gallon. Sale of Cog-
nac best brands of the vintage of 1851 made at 4s 2d to
43 4d, 1850 ditto, 4s 54 to 4s 7d, 1849 ditto 4s 9d to
4e 11d, 1848 ditto 5s 3d to 5s 5d per gallon, and older
55 6d to 6s 6d, low to mid 2s 4d to 4s. and Bordeaux Islld
to 2s Od. Trade is not better for British made Spirit, and a
desire is evinced to sell at 9s 8d to 9s 9d, net cash; Gin 22
under 83 6d, and 17 ditto 9s. Geneva is wanted at is 10d to
is 11d, and fine ditto 2s Id to 284 d • stock is yet small.
COCM-NRAL.—To-day full rates Were asked for Cochineal,
but there was not much demand. Part of the parcels offered
only sold : 68 bgs Teneriffe at 3s 8d to 33 lld for silvers, and
black 4s to 4s 6d ; 22 bgs Honduras, silvers, ord 35 Bd,
black ord to good 4s Id to 4s Bd,
and 5.7 bgs of Mexican
silvers 3s 8d per lb.
INDlGo.—Today at auction 44 srns Indigo went at stiff
rates; 32 5d to 4s 7d for mid Cortes to good Sobres.
SALTPETRE —To-day there was a reluctance to operate
in Saltpetre, and late rates barely sustained. A small part
only of 2,253 bgs Calcutta in auction sold, refraction 414
30a 6d to 31s, 6% to by, ditto 29s to 29s 6d, 8 ditto 27s
6d, 9% to 10 ditto at 26s 6d to 275, and 14% 26s 6d per cwt.
TALLOW. —Although transactions in Russian on the spot
are limited, with a greater stock last season, yet merchants
are firm, and obtain 353 9d to 36s for fine new Y.C. The
demand is not better for delivery, yet the rates asked are
37s 3d to 373 6d for the last three months of the year.
Home melted is in good demand, yet at 35s 6d to 36s net
cash there are sellers. Of other sorts of Tallow a larger
quantity is on offer' than last week, and the demand not
better the terms of that time are not sustained. Of East
India Vegetable 150 cases at auction sold at 38s 6d to 395.
OILS.—To-day auction 35 tune Sperm Oil sold at 86/ to
88/. ss, and Headmatter 911, very low 821; 11 tuns Seal, pale
301 15s to 311, straw 29/, dark and yellow 281 103 to 291 ss. ;
40 cases Spermaceti is 13.1 6d.

COURSE OF EXCH.,
Amdter; •• .• 12 2%;
Mt°, th.ree months .. 12 2%
3:;tterdarn 12 2%
25 6214
25 62%
R3:nburgh "MX. 13 11%
Aitona• • ........ • • ....
Paris, 3 dayeaight 25 45

Ditto, 3 montha .... 25 6'2
hfarseilLas •••••• • • 4. • • 25 62%
80urdeanx......... • •
Frankforton Maine.... 122%
Vienna, enc. 50...". 12 32
Trieste, ditto.. •••• • • •• 12 441
Petcrsbnrgh,slll. Bble.. 37,4
Madrid •••• •• •••• •• 49%
Wiz 43A)
Barcelona •• •• •• ••
Sevilla.. •• •• •• •• •• ••

NN GE.-(THIS DAY.)
aihraltax..•••••••••••.
Leghorn •••• •••••• 30 $0
Genoa .. •• •••• ~.. •... 25 62%
Milan ••• •• •• •• ••

VeniCe•• •• p• •• .• . ....
Naples •••••••• •• •• •• 40
Palermo, peroz •••••• •• 121%
Messina •• •• •• •• •• •• •• i 22
Lisbon•• •• •• „ 53m
Oporto •• •• •• •• •••..... s3►g
Rio Janeiro
Guenos Ayres —
New York, 60 days'sight
Philadelphia • • • • • • •• • •

PSIOES 07 numosr. PER oz.
Foreign Gold inbars..3 17 9
Portugal Gold Coin .. U 0 0
Spanish Doubloon .. 0 0 0
New Dollars ••.... 0 4 101%
. _

iSilvor in bars ........ 0 411 g

FRAN CE.

The French fleet has quitted Toulon, with five
months' provisions; it goes first to Algeria. The
English admiral is to meet the English fleet at Mi-
norca, and sail thence for Gibraltar, where it will be
joined by some other ships, and set sail for Egypt
and the Levant. The French fleet will proceed to
the same destination after leaving Africa.
The Public, which only yesterday advocated a new
appeal to the people, has made a giant stride in ad-
vance to-day, andisholds out the probability of the de-
finitive establishurnt of the Empire in twelve days
from this time, bY the shouting of the soldiery in the
Champ de Mars. This article is the most striking
shadow of the coming event that has yet been seen.
The Akhbar of Algiers states that, in the night of
eeoaiatdr tribe, the Bth, the garrison of Tlemcen marched against the
, to avenge the attack
Mellouk, a tribe of the
French territory. It was under the command of
tßheenyi-hSanda madessen a Morocco
th
s, n
General de Montauban. An engagement took place,
and the Beni-Snassens had 150 killed, whilst
the loss of the French was only 10 killed or
wounded. The French cavalry alone were engaged,
the rapidity of the march being such that the infantry
could not keep up with them. A corporal of the
spahis who fell into the bands of the Beni-Snassens,
was literally backed to pieces, and they divided his
flesh amongst them with a sort of ferociousjoy. The
column of General de Montauban returned to Tlem-
cen on the 12th. Another expedition of a more se-
rious character against the hostile tribe was expected.