The Sun.
London, England, 1853-06-22 00:00:00

THE SUN, LONDON, WEDNESDAY EVENING, JUNE 22, 1 8 53.

the satisfaction which he has hitherto in vain endeavoured
to obtain by pacific means.
" It is not without profound regret that the Government
of the Emperor has assumed this attitude. But from
blindness and obstinacy it has been endeavoured to drive
back Russia into a position, as it were, at the extreme
limit of moderation, where it cannot retire one step more
without the loss of its political consideration.
" We beg of you, sir, to communicate these facts to the
Government to which you are accredited, bringing to its
knowledge the important document annexed to the dispatch.
We beg of it to give to it the greatest attention ; it is the
Gordian knot of the question at this moment ' • the knot
which it is still our wish to loosen pacifically, but which it
appears to have been endeavoured to make us cut through.
By submitting our ultimatum to the imperial judgment of
the Cabinets, we leave it to them to decide if, after the
serious wrongs of which the Porte has become cul-
pable towards us—after it has given us so many causes
of legitimate resentment—it were possible to put up
with a lesser satisfaction. The conscientious examination
of our project of note will prove that, shorn of all form of
treaty, or even of synallagmatic contract, it contains no-
thing contrary to the rights of sovereignty of the Sultan,
nothing which implies on our part exaggerated pretensions
attributed to us by a distrust as insulting to us as it is
little justified by our anterior acts. This examination will
suffice, we hope, to dispel the false reports circulated on
our haughty exactions, and to prove that, if the rejection
of the last means of conciliation (Arniers moyens d'acco-
modement) which we propose to solve the difficulties which
have been purposely thrown in our way, in the affair of
the holy places, should bring about complications of a
nature to compromise peace, it is not on us that the respon-
sibility must rest in the eyes of the world.
(Signed) " NESSELRODE."

dividends were paid not out of revenue, but out of capi-
tal. (Cries of " No, no.")
Mr. COLES CHILD, who was elected a director at the
last meeting, begged to say that during the period he
was auditor of the company he could assure the pro-
prietors that he had fully satisfied himself, in the per-
formance of his duty as auditor, that the accounts
presented to them were a true and faithful representa-
tion of their affairs.

Mr. G. SMITH and Mr. IVTLEAFS, members of the
Committee of Shareholders, condemned the course pur-
sued by Mr. Hamilton, and said there was no founda-
tion for his statements.
Mr. G. TEtomrsoN said, it could be shown that every
word of them was true if they were allowed to be gone
into.
Mr. J. WILSON said, the steam-boats did not earn
more than 31 per cent., although they were allowed to
divide 5 per cent., and called upon the shareholders to
reject the bill.
Mr. GREY, one of the committee, said that he and the
other members of it had given the subject their most
careful attention ; the directors had given them the most
unreserved access to every matter relating to their in-
quiries, and the surveyors at Lloyd's, who were inde-
pendent parties, had valued the property of the steam-
boat company. These men were employed by all the
great merchants of London in valuing vessels, and there
could be no doubt that they had valued them at a fair
price between man and man. The committee had adopted
that valuation, and they were satisfied that it was the
interest of the railway company to purchase the steam-
boats at the price mentioned, and to work them in con-
nection with the railway. (Hear, hear.)
Mr. MACLAURIN said, that Mr. Wilson and other gen-
tlemen appeared to forget that the efficient and success-
ful working of the steam-boats in connection with the
railway had had the effect of increasing the traffic on the
latter between 70,0001. and 80,0001. per annum. (Cries
of "Oh, oh !") He would ask proprietors whether there
was any sense in such expressions as "Ph, oh !" against
the facts he had stated. The opposition could only arise
from those who wished to damage the property, but he
hoped the majority would vote in favour of the bill.
Mr. C. CHILD explained that it would simplify the
accounts very much to merge the property of the steam-
boat company into that of the railway company, and to
work them as one concern. _ _

. _ .
The following is the text of the project of note or
ultimatum, above alluded to :

" PROJECT OF NOTE.
" The Sublime Porte, after the most attentive and
serious examination of the demands which form the object
of the mission extraordinary entrusted to the Ambassador
of Russia, Prince Menschikoff, and after having submitted
the result of that examination to his Majesty the Sultan,
loses no time (se fait nn devoir emprcsse) in notifying by
the present to his Highness the Ambassador, the Imperial
decision emanated on ithe subject, by a supreme trade,
under date of (Mussulman and Christian's date).
" His Majesty the Sultan, being desirous of giving to his
august ally and friend a new proof of his most sincere
friendship, and his great desire to consolidate the ancient
relations of good neighbourship and perfect entente which
exist between the two States, placing at the same time
implicit confidence in the ever-benevolent intentions of his
Imperial Majesty for the maintenance of the integrity and
independence of the Ottoman Empire, has deigned to ap-
preciate and take into serious consideration the frank and
cordial representations of which the Ambassador of Russia
has rendered himself the organ in favour of the orthodox
worship of the East, professed by his august ally, as also
by the majority of their respective subjects.
, The undersigned has received, in consequence, the
order to give by the present note the most solemn assurance
to the Imperial Government of Russia, represented to the
Sultan by his Highness Prince Menschikoff, of the un-
changeable solicitude and generous and tolerant sentiments
which animate his Majesty the Sultan, for the safety and
prosperity in his States of the clergy, church, and religious
establishments of the Christian faith in the East. . .

The CHAIRMAN said, he would not trouble the meeting
with any observations respecting the personal attack
made upon him by Mr. Hamilton ; but, with regard to
the increase in the working stock referred to, it was per-
fectly clear to the proprietors who understood the subject
that increased traffic would require an increase in the
working stock ; and if the traffic continued to increase,
they would have still further to increase their stock. The
increase of working stock at present contemplated would
carry them over the next three years. Their traffic
receipts amounted in 1844 to 160,0001., in 1845 to
220,0001., in 1846 to 336,0001., in 1847 to 430,0001., in
1848 to 469,0001., in 1849 to 457,000/., in 1850 to
514,0001., in 1851 to 638,0001., and in 1852 to 749,0001.
The original capital of the company was 1,800,0001. ; in
1844 it was increased 3,000,0001. and since that period
6,000,0001., and by that outlay they had effected a great
public service. There was a prospect of considerable in-
crease in their revenue from the gradual development of
their traffic, which, with economy in working, would
tend to increase their future dividends. The steam-boats
had cost, including various improvements, 25,000/. more
than they were to give for them. They were kept in a
perfect state of repair, and out of the receipts the Steam-
packet Company had made a reserve of between 20,000/.
and 30,0001., after paying dividends, on the average of
6 per cent. per annum. That would show whether they
had paid more than 31 per cent.
The resolution approving of the bill was then put and
carried
by a large majority, 11 recording their rotes
against it.
The Solicitor read the heads of a bill for reviving the
powers for the purchase of land and for extending the
London-bridge terminus ; to divert a footpath at Red-
hill ; and to substitute a level crossing for an existing
bridge over the Bricklayers' Arms branch. The time
for the purchase of land was extended for one year, and
for completion of works to two years.
The CHAIRMAN, in reply to questions, stated that
15,0001. would be expended in the construction of a
bonded warehouse at the London-bridge station, and
10,000/. in the improvement of the booking-offices and
waiting-rooms.
The resolution approving of the bill was then carried.
The bill to effect the junction or approximation of the
stations at Reading, of the Reigate and Reading branch,
and of the Great Western Railway was read, and ap-
proved of unanimously.
The CHAIRMAN then proposed. that the bill to autho-
rise the company to extend the North Kent line from
Strood to the existing line and station of the company
at Maidstone and to raise capital for the purpose be ap•
proved.
The Solicitor read the heads of the bill which provided
for the supply of water to Maidstone, and specified that
no dividend should be paid on the ordinary stock of the
company at the end of three years unless the line was
completed.
Mr. HAMILTON contended that the line would not pay
its working expenses, and that they would exceed the
receipts by 5,0001. per annum ; that the line would be
no protection to them, and that, if the object in making
it was to prevent any rival scheme from connecting
Maidstone with. London by a nearer route than at pre-
sent, it would signally fail, as the distance from Maid-
stone through Strood would be 411 miles, but by a direct
line to London it would be about 32 miles.

vV
" To render these assurances more explicit ; to precise in
a formal manner the principal objects of this high solici-
tude; to corroborate by supplementary explanations, ne-
cessitated by the march of time, the sense of the articles
which, in anterior treaties concluded between the two
Powers, relate to religious questions ; and to provide for
ever against any shade of misunderstanding and disaccord
on this subject between the two Governments, the under-
signed is authorised by his Majesty the Sultan to make the
following declarations :
" 1. The orthodox worship of the East, its clergy, its
churches, and its possessions, as also its religious establish-
ments, shall enjoy in future, without any hindrance, under
the shield (egide) of his Majesty the Sultan, the privileges
and immunities conferred upon them ab antiquo, or which
may have been accorded to them at different periods, by
the Imperial favour, and, in a principle of high equity,
shall enjoy the advantages accorded to other Christian con-
fessions, as well as to the foreign legations accredited to the
Sublime Porte, by convention or by private agreement.
" 2. His Majesty the Sultan having deemed it necessary
and equitable to corroborate and to explain his sovereign
firman, invested with the Hatti-Houmayoun, the 15th of
the moon of Rebiul-Akbir, 1268 (16th Feb., 1852), by his
sovereign firman of , and to ordain further by another
firman, in date of , the repairs of the cupola of the
temple of the Holy Sepulchre, those two firmans shall be
textually carried out and faithfully observed, to maintain
for ever the actual data quo of the sanctuaries possessed
by the Greeks exclusively, or in common with other con-
fessions. _ _

" It is understood that this promise extends equally to
the maintenance of all the rights and immunities enjoyed
ab antique by the orthodox church and its clergy, as well
in the town of Jerusalem as outside, without any prejudice
to the other Christian communities.
"3. In case the Imperial Court of Russia should make
the demand, a convenient locality shall be assigned in the
city of Jerusalem, or in the environs, for the construction
of a church consecrated for the celebration of divine ser-
vice by Russian ecclesiastics, and of an hospital for indi-
gent or sick pilgrims, which establishments will be under
the especial surveillance of the Consulate-General of Russia
in Syria and Palestine.
" 4. Firmans and necessary orders will be given to the
proper persons and to the Greek Patriarchs for carrying
out these sovereign decisions, and an ulterior understand-
ing will be come to for the regulation of the point of detail
which may not have been inserted either in the firmans
concerning the Holy Places of Jerusalem, or in the present
notification.
" The undersigned has, &0., Sze."

AMERICA.

ARRIVAL OF THE ATLANTIC.
LIVERPOOL, TUESDAY.

The CHAIRMAN explained that the clauses relating to
the water were inserted in the bill to avoid an expensive
opposition in Parliament, and that the traffic between
Strood and Maidstone would be sufficient to yield 34
per cent. on the outlay, after allowing 40 per cent. for
the working expenses, without reckoning anything for
the increase of traffic on other portions of the line. The
engines which now stood in steam at the Strood station
would have time to go on to Maidstone over the pro-
posed new line, and to return in time to convey the train
hack from Strood to London. He did not believe that
the working expenses would amount to 40 per cent.
Mr. MACLAURIN thought that the estimated cost of
the line at 22,0001. per mile was excessive, and that half
the money would be ample if proper means were used to
have it cheaply constructed.
The CHAIRMAN said that their engineer hadinformed them
that a most respectable contractor had offered to con-
struct the line, includingland, forlBo,ooo/., which he (the
engineer) considered a fair offer, but that less than he
had estimated (250,0001.) would not be sufficient to
complete everything which the traffic would require.
The works would be put up to public tender.
Mr. HAMILTON moved an amendment, to the effect
that the bill be not proceeded with, which was not
seconded, and consequently fell to the ground.
The resolution approving of the bill was then carried,
there being only two hands held up against it.
On the motion of Mr. MACLAURIN, the best thanks of
the meeting were voted to the committee—Messrs.
Morgan, Smith, Grey, Wilkinson, and Ivyleafe for
their valuable services, and also to the chairman and
directors.

By the steamer Atlantic we hare advices from New
York to the 11th instant. She has brought 207 pas-
sengers, and $306,833 in specie on freight.
The Atlantic passed the steamer Niagara, for Boston,
at 11 a.m. on the 17th, and the steamer Pacific at 8 p.m.
on the 11th, 90 miles from New York.
The New York _Herald states that Mr. Crampton, the
British Minister, had received dispatches by the late
steamer relative to the fishery and reciprocity question,
and urging the matter upon the attention of the United
States Government. Mr. Buchanan was desirous of
having the negotiations transferred to London.
Her Majesty's frigate Leander arrived at New York
on the 10th, from Plymouth, with Lord Ellesmere and
suite on board.

The steamer Washington, from Bremen and South-
ampton, arrived at New York on the Bth.
The steamer Philadelphia has arrived at New Orleans,
with the Californian mails of the 16th of May.
The Illinois sailed from Francisco on the 16th, with
$1,600,000 in gold dust on freight.
Dreadful riots had occurred at Quebec and Montreal
on the occasion of Father Gavazzi's lectures.
He lectured on the 6th at Quebec, and many persons
were injured by the mob. Father Gavazzi was himself
thrown out of the pulpit, and received a severe cut on
the head, and another on the face.
On the 9th he gave a lecture at Montreal. The
Catholic portion of the community became furious, the
military were called out, and were ordered to fire on
the mob, when seven persons were killed, six mortally
injured, and ten severely wounded.
Telegraphic accounts state that there was great ex-
citement at Montreal on the 10th.
Late accounts from Rio Grande state that Caravajae
and his associates had been released, and had entered
suits against the United States' Marshal for false arrest
and imprisonment.
The steamers El Dorado and Prometheus had arrived
at New York from San Francisco, the former with
688,792 dols., and the latter with 500,000 dols. in gold
dust on freight. Their advices had, however, been
anticipated.
No business of importance had been transacted in the
New York Stock-market. Money was abundant at 6
to 7 per cont., and, in some instances, at 5 per cent.

This concluded the proceedings of the railway meeting.
The special meeting of the South-Eastern and Con-
tinental Steam-packet Company was then held, Mr. J.
Macgregor, M.P. in the chair ; and a resolution ap-
proving of the bill, authorising the railway company to
purchase the steam-boats and other property of the
company, was unanimously carried, and the meeting
separated.

IMPERIAL PARLIAMENT.

HOUSE OF LORDS-(YESTERDAY.)
The LORD CHANCELLOR took his at on the woolsack
at five o'clock.

TRANSFER OF LAND.
Lord LYNDHURST, after reading an extract from
the report of the commissioners appointed to inquire
into the subject of registration of titles, asked the noble
and learned lord on the woolsack whether he had in con-
templation any measure relating to the subject of faci-
litating the transfer of real property.
The LORD CHANCELLOR said that he had no
plan in immediate preparation ; but the moment the bill
for the registration of assurances passed the other house,
his attention would be anxiously turned to the subject.
He considered registration as but the first step to-
wards a complete amendment of the present system of
the transfer of landed property.
Lord BROUGHAM and Lord BEAUMONT ex-
pressed their satisfaction at hearing the answer of the
noble and learned lord, and agreed with him
that registration, of itself, was not sufficient to remedy
the evils of our present laws relative to the tenure and
transfer of landed property.
Lord BROUGHAM presented a petition from seve-
ral of the town councillors of Bath in favour of the
Charitable Trusts Bill.
INCOME TAX BILL.
The Earl of ABERDEEN rose and said : My lords, in
moving the second reading of the Income Tax Bill, I may
be permitted to place before your lordships a general view
of the objects entertained by her Majesty's Government in
making this proposition, and to point out the advantages
which they expect the country to receive from its adoption.
At the first formation of the Government I stated to the
house that there would speedily be experienced great
financial difficulties, oreauther a financial crisis, by the fail-
ure of a large portion of our revenue, in consequence of the
early cessation of the income tax ; and I added that it
would severely try the ingenuity and ability of any person
to put us in a condition to repair that breach. My lords,
the income tax having expired in the month of April, it
became necessary for her Majesty's. Government to consider
what course it was expedient to pursue. I believe it would
have been found impossible to allow the income tax to ex.
pire without being renewed, as it would have been impos-
sible to find a substitute for that tax. The surplus at our
disposal was insufficient to enable us to take this course,
and the taxes necessary for the purpose of supplying the
deficiency occasioned by the loss of the income tax would
have been so onerous, so oppressive, so unequal, that they
would in fact have created more dissatisfaction, and have
been more unpalatable to the people than the income tax
itself. (Hear, hear.) We therefore had no hesitation in
deciding upon renewing the income tax ; but then the
question arose, in what manner, for what period, and with
what modifications, should this be attempted. My lords,
it must be admitted that there is something in the
nature of the income tax itself, notwithstanding the
immense and incalculable advantages we have derived
from it both in war. and peace, there is something in
its nature which is open to radical objections. (Hear,
hear.) There is no doubt but its inquisatorial nature
is highly irksome and objectionable, and cannot be se-
parated from it. It allows also the principle of self-
asssesment, whichbaffords faCilities, not to say encourage-
ment, to fraud, very much to the loss of the revenue, and
to the injury of morality—that also is an objection
which cannot be removed. It must also be admitted,
that for some nine past, and especililly 'recently, a
growing feeling has existed that the tax itself is An-
equal and unjust, from the mode in which it is im-
posed. (Hear, hear.) It has been felt that to tax trades
and professions the same as land, that to tax preca-
rious incomes in the same manner as realised incomes,
was in itself unjust ; and this feeling has gradually ex-
tended so as to embrace the whole body of public opinion,
and it is demanded in every quarter, both by public men
and in the press, that some change should take place by
varying the rate of taxation according to the different
sources of income ; a principle also which received addi-
tional weight from having been adopted by her Majesty's
late Government, who announced, by their organ in the
House of Commons, their intention to adopt it, although
without explaining any special mode of carrying oat this
system, which, not explaining or announcing, they pro-
bably had not in view. But, my lords, I think, notwith-
standing the prevalence of this conviction to which I have
referred, and for which I must admit there is much foun-
dation, my right hon. friend the Chancellor of the Exche-
quer so dealt with that notion in the speech with which
he introduced his financial measures, that he absolutely
silenced all opposition to his plan, which he proved to be
the only one capable of being put into operation. I
do not recollect, in the whole course of my life, any in-
stance in which the triumph of reason over strong convic-
tion was more significantly displayed, than by my right
honourable friend. Ido not say that he proved that the
mode of assessing the tax adopted was just and equal, but
he proved that any other mode was impossible, and that
any attempt at another mode would be attended with still
greater inequality and injustice. Now, my lords, what is
the inference to be drawn from this ? Not that the in-
come tax should not be renewed, but that it should not
form any permanent portion of our financial system, and
that, in renewing it, we should take care to secure means
by which it should be extinguished in a given time—by
which, in fact, I may say, it should expire of itself.
(Hear, hear.) My lords, with this view we resolved upon
the renewal of the tax ; but to give the public confidence
as to its cessation was most desirable. To renew it for two
or three years, with the declaration and intention that it
should then expire, I fear, after what we have seen, and
what has already taken place on this subject, that neither
Parliament nor the country would have entertained much
confidence in the cessation of the tax, and, therefore.
it became necessary to give a proof of the sincerity of
the Government in the manner in which they pro-
posed the renewal of the tax, and to provide means which
should obviously at the given period enable you, if
you thought fit, to get rid of it without sacrifice and with-
out loss. We therefore propose, my lords, to re-enact it
for two years more at the present rate of 7d. in the pound,
for two years at the rate of 6d. in the pound, and for three
additional years at the rate of sd. in the pound, by which
it will cease in the year 1860 ; and at that period we shall
have provided a substitute for the tax, without any addi-
tional burden or sacrifice whatever. (Hear, hear.) My
lords, I will not attempt, of course, to predict what may
happen in the course of seven years; the events that may
occur are beyond our foresight, and we can only form our
plans according to the circumstances which may be antici-
pated in the ordinary course of affairs, I think that in
the descending rates of the tax we have given an intima-
tion, a pledge, an evidence, of our sincere desire for the
gradual reduction of the tax, and I shall state in a few
moments the mode in which we shall provide for its total
extinction. Now, my lords, in renewing the tax, we also
propose to make large remissions of taxation, in such
modes as shall be most beneficial to the trade and com-

merce of the people, and shall add most to their comfort
and prosperity. (Hear, hear.) In this we shall follow the
policy and the example of Sir Robert Peel, from which the
country has already derived such inestimable advantage,
and from which I trust that it will derive still more. As
the estimated surplus of the year amounts to no greater
sum than 800,0001. of course, to effect this object, other
sources must be sought, and I shall state to the house, in
a few moments, how they are to be obtainod. In the first
place, there will be a certain extension of the income tax
itself. It appears but reasonable that incomes below 1501.
should also be charged with the tax. Incomes between
1001. and 1501. have derived great advantage by the re-
missions of taxation which took place in 1842 and 1845,
and from the measures which have been adopted in conse-
quence of the existence of an income tax ; they will also
derive great advantage from the remissions of taxation now
to be made • and it seems but reasonable, therefore, that
they should be prepared to share in the burden of the in-
come tax, which is now about to bo modified. However,

it is intended that incomes from 1001. to 1501. shall only
be taxed at the rate of sd. in the pound, so that incomes
of 1501. will pay 7d. for the first two year, 6d. for the
next two years, whilst both they and incomes down toloo/.
will pay sd. for the remaining three years. The sum esti-
mated to be obtained from this extension of the tax is
250,0001. Then comes the extension to Ireland. Now,
my lords, in principle it cannot be denied that there is no
doubt that Ireland ought to be equally taxed with Eng-
land. This principle was acknowledged by Sir Robert
Peel in 1842, when he imposed the income tax, by a com-
pensatory tax he proposed for Ireland—a duty on spirits
of Is. a gallon, and an increased stamp duty. It is true
that the spirit duty was very speedily repealed, and some
time afterwards a very large proportion of the stamp duty
was also repealed. But the p rinciple of equal taxation
cannot possibly be controverted ; and it is proposed now
to extend the income tax to Ireland, by which it is ex-
pected that 450,0001. will be obtained. But although Ire-
land has received the same advantage as the cther parts of
the kingdom have derived from the imposition of the in-
come tax in 1842, and the measures of general relief passed
in consequence, still the situation of that country, no doubt,
requires consideration, and calls for large and liberal deal-
ing. Although the distress under which that country has
laboured with such severity has been mitigated, and in-
deed has ceased, still the effects of the calamity of 1847 re-
main to be alleviated and removed ; and in imposing the
income tax, it has been thought wise and just to make a
great remission of the burdens now imposed upon Ireland.
My lords the consolidated annuities represent a capital of
4,500,000/. ; 1,500,000/. may be said strictly to belong to
the establishment for the relief of the poor, but the other
3,000,0001. are more or less connected with the land. Now,
my lords, the committee of your lordships' house which
sat upon this subject, I believe, recommended the remis-
sion of 2,000,0001. of these consolidated annuities, but it
is the intention of her Majesty's Government to propose
the remission of the whole. This may be considered a
boon which I think may fairly compensate for the imposi-
tion of the income tax, inasmuch as a large portion
of those annuities, the capital of which represents an
annual charge of 245,0001. three-fourths of them, I
believe would endure for forty years, whereas the
income tax will expire in seven years. The condition
of • Ireland, of course, varies in different parts of the
country, and, therefore, those remissions of burdens, how-
ever desirable, and however fair on the whole, operate
unequally in different parts. There is no reason, perhaps,
why Belfast should not pay an income tax just as well as
Glasgow or Liverpool, whilst, on the other hand, the
western provinces are utterly unable to discharge the
existing obligations. But although the remission may be
more woloome and more sensibly felt in one part of the
country than another, still the remission of the whole
amount appeared to be the most just and equitable mode
of proceeding. I will now state to your lordships the
whole remission of taxation which it is intended to make,
by means of which a permanent income will be secured,
and from which we anticipate the extinction of the income
tax. From 1853 to 1860, the period at which the income
tax will expire, the remission will take place, and the gross
loss to the revenue in the present year, arising from this
remission, will be 165,0001. I will state the amount for
the whole period, in order that persons may be enabled to
contrast the income tax as it will exist at the end of this
period, with the amount of permanent taxation we shall
have realized in order to extinguish it. The remission of
the soap duties will be 1,126,0001. ; stamp duties, 418,0001. ;
assessed taxes, 290,000/. ; post horses, 54,0001. Total of
remissions connected with the inland revenue department,
1,888,0001. Then, as regards the customs—tea duties,
384,000/. ; minor duties, 120,000/. ; and from another
source, 262,000/. In short, we calculate that the whole
amount of remitted taxation during this period will amount
to 5,384,0001• Now we calculate, according to the example