The Sun.
London, England, 1806-05-16 00:00:00

PROPERTY TAX.

The Property Duty Bill was committed.
The Chairman having come to that part which
related to the interest on Exchequer Bills, a•. short
conversation took place on the ditticult)% of colletting
that interest. '

Mr. Alderman PRILVSEP said, that it' was no
slight consideration how Government was to procure
the interest on a sum of twenty-seven or twenty-
eight millions. He objeded tO the system of Ex-
chequer Bills altogether ;: it was throughout an il-
legal, an impolitic, and unconstitutional mode of
anticipating the supplies : he thought the 'greater
part of them ought to be funded, -when-the chasm
would be supplied by Bank Notes, .and much more
money would go to promote the adive commercial
interests of the Country. '
Mr. FRANCIS said, that the question was of
particular importance : but he saw no reason why
the Bills should be funded,,as Government was in the
habit of paying them off at par, and they. might be
paid in -as taxes. These things, with the facility
.which" they afforded in commercial transadions,
would always keep them at'pr.
Mr. YANSITTART contended, • that the system
of Exchequer Bills was neither impolitic nor un-
constitutional ;, and mentioned, that it was intended
to brina up a new Clause on this subjed.
_ _

After a iew words from Mr. Jon Ns7ioNE and Lord.
HENRY PETTY, the. Clause passed.
On the Clause for raising the sum of 10 per Cent.
on Property in the Funds, a very long discussion
took place. .
Mr. HOLFORD thought it extremely hard that
a person who had an income of 50i. or 601. a year
arising from Property in the Funds should be under
the necessity of paying 51. or 61. annually Out of
it i he ;would think it more advisable that the Tax
should' be increased progressively on the higher
orders to a greater extent than it now is, than that
the Tax should be leißed on persons in such con-
fined circumstances.

Lord HEIVRY PETTY informed the Hon.Mern!
ber, as 'he had uniformly stated before, that it was
his intention in the formation of the Aa, that a ma-
terial distintton should be made between those who
were in possession of any permanent property, whe-
ther fro'm Land, the Funds, or any other source, and.
those who had only
.a casual income derived from
manual-labour, or any other source tithich must ne-
cessarily vary, and which was hardly worth two
years purchase. The reason was, that a mechanic,
when he had raised 501.. 601. or perhaps 701. a year
by his industry, he had exhausted all the sources of
his subsistence—whilst those that ,were in possession
'of landed or funded property could by their in.:
dustry, or perhaps by a redudiou of their capital, be
placed in circumstances which would. admit of their
paying the Tax with but very little comparative in-
convenience. The Hon. Member had recommended
to him to adopt a' mode .of raising the, taxes of the
rich, and exempting the poor. 01 all the dangerous
doarines that could possibly be. held out in a Le-
gislative ASsembly, there was ,not one that could
possibly be more mischievous in its tencielicv than
that of equalizing all ranks of society; 'by re hieing
the higher orders. to a level with those of a dif-
ferent class, and depriving them of every comfort
which they had a right to'exped from their exalted
situation.

, Mr. WILBERFORCE stated an' hypothetical case
of two men ,supposed to have died . the one left his
widow-20001. in the Punds, which produced an in-
come of. 601. per annum, and the widow was obliged
to pay 61. a year duty ; the other left an estate, out
of which an annuity of 601, was to be paid to his
widow, and she would pay only ten shillings yearly.
He suggested that the further consideration of this
measure' should be postponed, in order that Gentle-
Men might have more ample, opportunity of turning
the subject in their minds. •
Sir _HOBERT "BUXTON was of opinion, that
the Tax would-press .most partictilarly harition the
Landed Interest. If a man had 10,0001: tolay out
in land, it would not produce hint more_ than
31. per cent.7—whereas, if. he purchased •in the
Funds he could be sure of 51. per cent. He
would wish to see the' two classes brought to an
equality. -
Sir CHARLES PRICE, Mr. SPENCER STANHOPE,
Mr, JOHNSTONE, Mr. BABINGTON; and Mr. FRAN
cis stated different cases of hardship under this
Clause.

Mr. FOX observed, that according to the ex-
tent of a man's • income in many different situa,
tibns, he 'might have it in his poWer to make
such alteration in his expenditure as that the Tax
would not - entirely crush him ; he might be able,
in some measure, to relieve himself : if he was
on the first floor, for instance,-he might remove to
the 2d, and so lessen his: expellees ; he was on
the 2d already, he might be driven 'to the attic story;
but, where a man was found 'to be already .in the
cellai, where. could he ,be sent to—what resource
could he have ?

Mr. aUDD LE STONE asked, if a person should have
the interest of 6001. in the funds, which, in the 5 per
cents. produced him 301. a-year, should that person
be obliged to pay 31. tax, although it was not in his
power to sell (Int ?
Mr. FOX observed, that there was a general prin.,
ciple on which the Bill was founded, namely, that
all should be bound to pay something towards the,
exigencies of the State, in proportion to their means
of subsistence. But there was another, and a very
different, principle in the exceptions to that general
rule--that was, that care should be taken as far as
pbssible tha.; no mln be driven to the necessity of
seeking, parochial or accidental relief in consequence
of the ,cpamegts of the Bill, Any person who

should be foUnd to be , pesFessed of capital in the.
funds which prodticed him 301. or any other such.
yearly, should be bound to pay in the same manner
as those who had property in land were obliged to
pay, because in that case the Tax towards the sup-
port of the State could he paid without lessening his
'capital, or in any material degree trenching on his
income. But, where there was only a life interest
in the funds without any claim on the capital, there
the exemptions would extend. He was fully aware
that there were many just ohjeEtions to this Tax •
and, unless one had a heart of stone, it would be
impossible to hear the many cases of extreme hard-
ship which occurred, Without being moved by them:
But it was to be recolleeted that the first Plan of
Assessments
,was very bad-,then came the. Income
Tax; that was not quite so bad as theformer—now
the Property Tax was under discussion, and that he
would not Say was better, but 'he would maintain
that it was less bad than'the measure which pre-
ceded it. He was far from, entertaining auy idea of
casting the slightest degree of refleetion on any per-
son whatever, but the measure had been found to -
be produ&ive before it came into his hands, or those
of his Noble Friend (Lord H. Petty) ; the general
circumstances of the Country required that some-
thing more than the usual modes of taxation should
be resorted to, .and though the outline of the former
system,might be said to be adhered to, it was as
much modified and prevented from being vexatious
or oppressive, in its, tendency as it was possible to
do, and at the same time retain the aelually pro-
duEtiVe part-Of the measure. In fact every where
he vvent;he heard cries of " You know that great
exertions arc necessaryoii know that you have a
large fleet to upport—don't let your pacific- dispo-
sition lea-d you into any laxity -of conduia." Yet,
when the honour and the safety of the Empire may
be said to be at stake, Gentlemen objeEted to every
provision of-an Aet.Which had formerly passed the
House in a far more objectionable shape. If one man
was made a little richer or another a little poorer, It
might, be. so ; but it was ,impossible to avoid it. It
Was something like; if yOu grant Mr. This or Lord
Stich-a-one a favour, there may be some jealousy be-
tween them and some other persons; but-it was im-
possible to fix the scale with that degree of:, aced-
racywhich might be wished for.

The House then divided.
•
Clause— -

Contents -
Non-Contents

For the Original

• • • Majority -
_- 40 , -
The Other Clausesin 'the Bill were then gone.
through.
Mr. VANSITTART brought up several nest'
'Clauses. Among others, a Clause exempting 'per-
sons from Penalties for not making-Returns.- under
theAel where it appeared that they had not been re-
gularly served with Niitices.; and a Clause, con-
formably to the suggestion of Mr. Francis, for levy-
ing the Tax on Exchequer Bills and other unfunded
Property, in. the same manner as it is appointed to
be levied on funded P.rOperty—the Regulation in
this'respeca' to commence from the I oth of October
next. .

. The House then..resumed, and the Report was.
ordered to be ,re.xei,(:l 'this day, it being under-
stood that the Clausei were not to be debated -till
Monday.

The other n:-(lers of the Day were then dis'
posed Df.--Atiiol.lrlled At Half-past Twelve o'Clock,

•
ARRIVED-[ Dublin, 1, Waterford., Hamburgh,
I-Gotteiburgb, t Dublin, iWatOrford.

k)1 STOCKS
THIS DAY AT TWELVE O'CLOCK.

_
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THE SUN.

SOLE:VI QUIs DICERg SALSUM AUDEAT ?