The Sun.
London, England, 1854-03-14 00:00:00

WAYS AND MEANS.

Mr. DISRAELI asked whether the Chancellor of the
Exchequer meant to go on with ways and means at that
hour (twelve o'clock) ? He certainly should object.
The CHANCELLOR of the EXCHEQUER could not
ask the committee to commence then, if it were intended
to oppose the resolutions at every stage. If it was only
intended to debate then ho thought they might proceed.
Mr. DISRAELI said no one yet had pretended to give
any opinion of the financial scheme, nor had there been fit
opportunity for its discussion. The house would, he was
sure, be prepared to support her Majesty in the impending
war, but it did not necessarily follow that the particular
form in which the ministerial proposition presented itself
was the form which the house would agree to. It was a
proposal virtually to double the tax, which of late years
had been subject to considerable criticism, and had met
with much opposition, and which had been characterised 1)y
hon. members on the opposite side of the house as unjust,
oppressive, and inquisitorial. He would not contend that
that was a reason why the house should not vote an increase
of the tax when the exigencies of the country required
if. ; but it was a reason, when statesmen of such high au-
thority and influence had described this tax in such epi-
thets, why the house should not come to a vote on the
subject without due thought and deliberation. (Hear.)
The reason why hon. members who had formerly charac-
terised the tax as unjust, oppressive, and inquisitorial,
voted in favour of its continuance last year, was that by
so doing they would secure a large measure of Parliamen-
tary reform. The house would recollect that they now had
the income tax without the modification which the late
Government had proposed, and they did not appear to have
much chance of a large measure of Parliamentary reform.
(Hear, hear.) But, with respect to this proposal to double
the income tax, it would first be necessary to consider the
state of the finances and resources of the country before
coming to a final conclusion; and the question whicn would
be perpetually recurring would be, why was this increase
of the tax demanded, and what was the object of that mys-
terious struggle in which the country was now about to
engage? The papers presented to Parliament had not yet
fully explained the state and progress of the question, and
supplementary documents were promised to be laid upon
the table. He thought the better plan would be to postpone
the committee of ways and means until Friday next, when
they would be in a better position to form an opinion on
the subject. With respect to those additional docu-
ments, he trusted that they would be given in extenso.
In a diplomatic correspondence there might be occasions
when it was right and proper to omit portions of a private
and confidential character; but in a case like this, whore
the correspondence was entirely of a confidential character,
no extracts ought to be made, and no portion of it kept
back. You could not have extracts of confidential corres-
pondence. (Hear.) He hoped, therefore, that her Majesty's
Ministers would bear this in mind, and that the whole of
the correspondence referred to in the Journal of St. Pe-
tersburg, and the whole of the answers referred to in an-
other authoritative print, would be laid upon the table
before the right hon. gent'eman the Chancellor of the
Exchequer asked for the important vote on the paper.
The house was about to divide on the motion for going
into committee, but ou the suggestion of the Chancellor of
the Exchequer the house went into committee ; and the re-
solution having been read the Chairman reported progress,
and obtained leave to sit again on Friday.
The Mutiny Bill was read a third time and passed ; the
Marine Mutiny Bill, as amended, was agreed to ; and the
Exchequer-bills' (1,750,000/.) Bill went through com-
mittee

Mr. FREWEN brought in a bill to amend the law for
uniting parishes into districts, and the appointment of
district surveyors of highways over the parishes so united.
The house then adjourned at half-past twelve.

ROUEN.—The letters from Rouen mention that the
market for manufactures exhibited a slight improvement,
a favourable change in the weather having stimulated
business.
NEW YORK MONEY MARKET.—The commercial ad-
vices from New York continue to indicate a recovery in
the tone of the stock and money market, although the
recent rise had led to some sales for realisation. As
compared with the corresponding period of last year,
the imports since the Ist of January show an aug-
mentation of only 5 per cent., while the exports have
increased 60 per cent. The supply of specie in the
banks was therefore proportionately larger. The de-
mand for European goods was active, but an erroneous '
impression appears to have prevailed for some time
that large quantities would be sent to New York at a
sacrifice from France and England on the commence-
ment of war, and the dealers had neglected to keep
themselves in stock. Under these circumstances in-
creased orders may soon be looked for in our manufac-
turing towns, where a falling off in American purchases
has been noticed during the past month or two. In
that case a moderate resumption of specie arrivals may
also be expected. The present steamer, after some
weeks' cessation of remittances, has brought 32,0001.
BUSINESS OF THE PORT OF LONDON —ln the general
business of the port of London during the past week
there has been considerable activity. The number of
vessels reported inward was 162, being an increase of
22 over the previous week. Of grain there were re-
ported 36,265 quarters, including 22,047 quarters of
wheat ; of flour, 18,529 barrels and 7,539 sacks ; of tea,
49,721 packages ; of sugar, 919 hogsheads, 246 casks,
943 cases, and 32,116 bags ; of coffee, 81 casks and 274
bags ; and of rice, 7,411 bags. The number of ships
cleared outward was 103, being an increase of 23 over the
previous week. Of these, 23 were in ballast, and 12 for
the Australian colonies.
THE NEW FRENCH LOAN.—Transactions took place
yesterday afternoon in the new French Loan at 1 to 1f
premium, and at Paris 11 is understood to have been
given. It transpired by telegraph yesterday that, in
virtue of the power reserved by the Government for that
purpose, notice has already been given that no discount
will be allowed to any subscribers of more than 1,0001.
Rentes on prepayment of the instalments. This will
prevent the large dealers from obtaining the anticipated
supply of new stock, and, as many of them are said to
have effected sales of the old Rentes under an impression
that the market would soon be well furnished, it is
thought a rise may result, from the necessity they will
experience of closing their accounts.
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