The Sun.
London, England, 1853-04-19 00:00:00

NEW ROSS ELECTION.

Mr. HEADI.A.M reported that this committee had
come to the resolution that Mr. Charles Gavanr Duffy was
duly elected for New Ross.

VOTE BY BALLOT.

'

Mr. HENRY BERKELEY gave notice that, on the
11th of May, he would ask for leave to bring in his
usual bill for taking the vote of electors by ballot.

REFORM OF THE LONDON CORPORATION.

Sir DE LACY EVANS asked the noble lord the mem-
ber for the city of London, whether, in the commission of
inquiry regarding the state of the Corporation of London,
there would be any objection to direct an investigation
into the working of the city police acting under the corpo-
ration, with a view (without derogating from the present
excAlent admini•=tration of that force) to a consideration
of the advantages of consolidating the whole of the metro-
politan police under one management ; also, whether that
commission is to be appointed by act of Parliament so as
to enable it to pursue, with adequate power, its inquiries;
and whether there be any objection to add to its duties a
like inquiry into the corporation of the adjoining City of
Westminster.

LOrd J. RUSSELL said there would bo no objection to
the commission of inquiry into the working of the city po-
lice. With regard to thesecond queition, he had to state that
the corporation .of the city of London had expressed their
willingness,to give every assistance to an inquiry by com-
mission, and there would, therefore, be no necessity fora
bill on the,subject. As to the last question; he did not
think it was desirable to extend the inquiry to Westmin-
ster..

-LOrd D. STUART asked the noble lord the member for
the City of LOndon' whether a , protest has been "received
by the Government of this country • from the 'Prince of
Schleswig Holstein, against the treaty of the Bth day of
May, 1852, regulating the succession to. the Crown of Den..
mark ; and, if so, whether,there, will be any objection to
lay that document on the table of the house.

Lord 0,,-13.-UgSELL said that a piotesthad been received
but he could not 24 whether it couhrbe laid on the table
of the house.

On the motion of Sir B. Hall, the evidence taken before
the. Tynemouth election committee was ordered to be
printed.
Mr. M. MILES asked the Seoretary "of the Admiralty
whether, in consequence of any instr actions issued to Sir
Everard Home, of her Majesty's ship Calliope, with
a view to ascertain the fate of Mr. Benjamin Boyd, that
officer has transmitted any report on the subject to the
Admiralty, in connexion with his recent cruise amongst
the South Sea Islands, from which he is understood to have
returned. to Sydney on the 19th Dec. last; also, whether any
report has been received from the officer in command of
the China station on the same subject?
Mr. B. OSBORNE said thit no report had yet been re-
ceived on tho subject.
Mr. A: WYSE asked Lord John Russell whether it was
the intention of h r Majesty's Government to introduce,
either in this or the next session of parliament, any
measure to "abolish or revise the " lain relating to the
settlement "and removal of the poor, or to alter the .
present mode of raising the rates for the relief
of the poor, by distributing the charge over a wider
and less variable basis, or otherwise. Secondly, if
her Majesty's Government are not prepared to propose
early legislation on these subjects, whether Lord John
Russell will assent to _the appointment of a committee
to inquire into the practical operation of the laws for the
relief of the poor in England and Wales, and to consider
AC- policy and general effect of all the laws relating to set-
tlement, removal, and paroChial assessment? •
Lord J. RUSSELL said the Government were of Opi-
nion that there would not be sufficient time to discuss a
raeasure on this subject this session, but a measure would
be intrOdutied next session.

Mr. PETOltsked the Memberfor the:city of London if
it Was they intention of the Government to proceed with
the second reading Of the education bill„ pending the in-
quiry: now proceeding in a committee specially appointed
by the house to' inquire into the subject, on the introduc-
tion of the Manchester and Sal fora Education Bill ?
fiord .T. BAYSSBLt said it was not his intention to Pro-
ed''with the bill until after-Whitaiintide, when he hoped
the report of the committee on the Manchester and Salford
Education Bit would be laid on the table.

In answer to Mr. DivErT,
WILSON said that. the officers of the Mint were
using.every endeavour to meet ,the demand for small silver,
but the demand fcr.gold coin:beinc, so great, it was inipos-
aiblofor them to issue more coin. '''The amount of money
1441 out weekly was 660,00017,: a much greater amount
than had ever been issued befcre. - , •
NEW- ZEALAND COMPANY.
.In answer to Mr. H. BAILLIE,

Sir W. MOLESWORTH said that, as the papers which
had been laid before the house relative to the charges which
had been made against the, New Zealand Company fully
bore out those charges, he saw no' reason for asking for a
further inquiry this session. •
HE • BUDGET

On the Motion for going "into Committee of Ways and
Means
Petitions were presented.by Lord Hotham, Mr. Bright,
Peto, Lord Dit Stuart, for different medical socie-
ties ; by Lord StaantelezeYt.and other honourable gentlemen,
'praying for an
it bears upon ,e4:11 of the income tax so far as
from Stockport, against incomes ; by Mr. Kershaw,
for .I,hee taxes on knowledge ; by
Mr. Ewart praying;
by tiolleyeal of the duties on
butter and cheese
Hmalatracontdirth,opfsr;omby
Mr.
peal
Isle of Wight,. against the duty on
°ebbe+, and Mr. Manes, for a re-
Gaskell, Mr. Home, Mr.
peal of the certificate tax.
Twe house then went into eonaMittee, Mr. BOUVERIE in
the chair.
The CHANCELLOR of the EXCHEQUER rose •
Esaid—The annual exposition of the financial state and and
pro-
spects of this country, upon ordinary occasions, affords
abundant material 3 of interest to this house and to the
country, and of anxioty to the person charged with the'
reparation of that exposition ; but on the present occa-
Men, Perhaps, that,intere4 on the one hand, and, certainly,
ihat'aniiety on the other, are greatly enhanced by a variety
of pirownstances,
including among them the nunaber.of.
71106ORs.which have recently been made in this house, in-
the increasing ea,gernesS'of the people with respect
to financial 'question's. (Hear, hear.)
Political events,
O, have egfeeNe:d or overthrown Admimstra-
ji;i
425'
bons, JA
I.ons, hich have made it necessary to adjourn from
year to year questions of taxation, have likewise greatly

.

accumulated on the present Government the task
withskt those:heyhave
to discharge in that regard ; and in connexion
of
: questions there have of late been raisedgd,i7 tuhliofirnss
nature most deeply interesting, desceOn t
to the first
•anieprinciples on which men are united in society.
ntary principles of taxation, andvalme7vsilised,
(Hear, hear.) With a task so formidable be
tg tfhoreeemome,nilltfteeeel
szgeceinalee,appeal
starranptet Indadesdsresensidnginad;
for their n n for lam certain that
only by their kindness and indulgence, can I be enabled—
I Will-not say to discharge the taslcas it ought-to be die,
charged, for.thatis:f wholly beyond my' power---but to "dieje
• charge it so-as in any case to be at least 'intelligible to My'
hearers'. (Hear, hear.) The-first !portion of my duty will
be to lay before the committee the account of-the country.
. .
I think I• shall best discharge 'it bytaking np the state of
that account from the point at which it stood last year,
when the financial department was in the hands of the
right hon. gentleman opposite (Mr. Disraeli), and it will
be satisfactory to the committee to observe, that as our
experience grows with the lapse of time, so do we obtain
larger and still larger proof of the elasticity of the revenue
and' of the progress of the productive and consuming
powers of the country. (Cheers.) On the 30th of April,
1852, the right hon. gentleman opposite estimated the
revenue for the year at 51,625,6001., and in the month of
December,* 1852, when the right honourable gentleman
had occasion 'to return to the subject, he was able to pre-
eent to us an estimate which placed the revenue of the year
at 51%325001., 'exhibiting an increase upon his estimate in
April amounting to not less 'than .700,0001. And new,
within the few months which have elapsed Since last De-
cember; we have, further evidence of ;the same gratifying
character,. for the revenue which the right hon. gentleinan
then judiciously estimated at 62,325,000/. amounted to no,
less, when We reached the termination, of the year, than
53,019;0001:, stewing an increase of 4,464,000/. upon the
.estimate formed,it.the commencement of the year. (Hear,
hail%) The 'expenditure of the last year, .estimated by
the' i,glit lion.- gentleman • Opposite on the - 30th:of. April,
1852;;Was,taken at 51,163,0001., but theactuatexpenditure
has only reached' to. 50,782,000/., and.:ceniequentlY you
have had figures presented to you in the balanee-Sheet
which must have been gratifying to every member of the
committee in showing a surplus of income over the expen-
to 'the amount of 2,460,000/. (Hear; hear.),. That,
having•reached this point, by smooth and easy progress; it,
iseioiv my duty to entreat hon.geutleinen ,to make large
deductions from. the very, sanguine .estimate—so sanguine:
as, considering the quarter, from which it came, to excite
my surprise—that because our balance yields 2,400,000/.
of surplus, therefore:we have that .sum availabley for re-
mission of taxation. That would be a toe precipitate in-
ference, Unfortunately, before -we arrive at that conclu-
sion, there is one circumstance rather:material to examine,
and that is-,--what is the estimated amount of expenditure
of the' year that we have just commenced ?. Well, when I
look-to that, and compare it as, estimated, and as it appears
on the votes before the house, with the 'estiniates of the
last year, I find it stands,aafollows :—The expenditure for
1852.53 was 50;782,000/. ; but the expenditure for 1853-54,
the great bulk of which is already voted, and upon which
I can anticipate, on the whole, no diminntion„ amounts to
52;183;000/.- Therefore, withaut 'going into other par-
ticulars, which, • I am -Berri, to say, occasion a fur-
ther deduction from. the • surplus of 2,460,000/.; I
beg, to point out • that no lees *than" 1,400,0001.,
nearly three fifths of that_ surplus, are already', disposed of
by the charges to which yon. are liable under acts &Par-
liament; by the votes which the house has come-for the de-
fence of the country, and by the 'Charges on account of the
miscellaneous services, -which; I apprehend, this house will
not: be inclined to refuse or to dimmish.'..(Ffear, hear.) The
right hon. gentleman opposite, in. Deoember, 1852, esti-;
mated as follows ;hisurplus for the present . year
took a total aim of 1,600,0001.,-s of which I think lie stated
that, on the ordinary revenue "he'would venture to taitici-.
pate a surplus • amounting to bet Ween 1,300,0001.' and'
' .1,400,000/:, and by decrease of Charge for, the Kafir war a
sum of 209,0001, or 300,0001. These two sums put together
gave a surplus, as the basis of his calculations for'the year,
- amounting to 1,600,0001. At that period the' right hon.,
gentleman thought that the only charge' against that Sur-
- plus on account of coming expenditure would be the sum:
en.00;0001., which he proposed to apply to light dues and,
purposes connected with shipping, and 600,000/. for the in-.
crease he anticipated on the great services "of the country.,
His successor has not been so fortunate, nor has he thought
it wise to confine the votes for the year within these limits.l
shall now state to the house how that Surplus- of
1,600,0001. has been swallowed. The increaseon the navy
estimates, including the packet servide, as voted in 1852,,
and as we found. it prepared for thiS year (making the corn;
parison With the.estimate of APril, 1852, not inchiding the
supplemental vote of December), amount's to 617,6031. The
increase on the army and
.eoraniissariat,' but 'almost -en-
tirely onthe commissariat, is 90,000/. ; and that increase
on the commissariat is to be ae,Coniitedfor by the fact that
we have now reached, we trust, that stage, in the hostilities
-at the Cape when we may consider our extraordinary
-votes at an end, and when the provision to be made has
-passed. under ordinary expenditure ;• therefore, though' it
is our duty to submit to the house, during the' present ses-
sion an extraordinary vote ter 200,0001., which is 'easen-
'tielly retrospective, we have likewise -to submit vote for
- 70,0001. in commissariat expenditure,
.which in' its charac-
ter is prospective, and analegeu.stO our ordinary estimates.
So the' durable expenditure, ai'far "as the Cape is con-
cerned, is charged on the service 'Of the present year. 'The
increase on the ordnance is 016;000/. The militia estimates
have not yet been brought to the shape in, which they will
be laid on: the table : but I am sorry to say that there will
be a large and I believe unavoidable increase on the
amount taken last year by my right hon. friend then Secre-
tary for the Home Department. The estimate fOr the
present year cannot, I fear, be expected 'to 'be much less,
if at all less than 530,0001. I doubt if it' was expected
twelvemonths ago by my right hon. friend that the amount
would be more than something like 300,0001. If so, there
would be a considerable increase in the expense of giving
effect to that plan, and it is right that the House of Com-
mons should know the expense of giving effect to any plan,
and especially, one which has realised, in other respects, all
the favourable anticipations formed of it. (Cheers.) The
increase of expense for the militia, as compared with the
reckoning of my right hon. friend, will be about 230,0001.
The last item in these augmentations of expense is the slim
of 100,000/, added to the votes during the present year for
. the purposes of public education. If -the committee take
the pains to put together these five items they will find
that, though the right hon. gentleman opposite (Mr.
D'lsraeli) anticipated a surplus of 1,600,000/ for the finan-
cial year of 18534, the augmentations of charge, princi-
pally voted already and in part yet'to come, amount to no
less than 1T,654,000/. As I have already stated to the com-
mittee there has been some ' further improvement in the
revenue; and there are likewise some, few, items of public.
expenditure. on which, the Government have been. able to
effect some small saving. With respect to the-important
and unsatisfactory charge. for the packet' oontraet service,..
it has beirk''our most anxious 'desire to see what, consis-,
tently with justice, was to be done to amend the position,
of the public, think that the iireount,of charge which
that servidefirt:d- reached, is wholly disproportionate with
„the benefit-deriv,ed. (Cries of ` Hear.'-') , lam not at pre-.
io,. Canditi,on to lay' he estimate flielable; or to
state exactly what the estimate will be, 'but I venture to
:anticipate atany ratefar the• first year, -We may be able to
effect a saving on it' of not re§s than '75;0001; • There—will
also be a. saving, on the
;charge, for -E-xchecjimr-bidS, owing
, to the diminution of interest, amounting to aboirt 65001.,
and there will, be a surd-which, the house must Observe is
oce4slonalln its nature, -of 1*,000?., arising out of repay-
. ments.to the Crown revenues, and available under the pro,
viaions of the law as ways and , means, in' consequence of
,the.b.i4 passed by the house reference to metropoli-
tan ithprovenients ; and also there-wilt-be produced 'a sum,
by the liberation of the Crown revenues from a:charge
which heretOfere affected thein on the same -account, to
, the extent Of abOut 27,000 t. These various items will
give a fund amounting to about 301,000/. I will now
state. more• particularly to •• the cetrunittee the items
of ,anticipated revenue and expenditure of the -
noun-
try from which they will see 'PreeiselY tliiitainatitit of the
surplus we have to deal with. 'I shOuldit the "outset ex-
plain that. I think it.would be `convenient that I 'should, in
, ,all caSea, disregarding minute inaccuracies, give the 'sures
in.reundnuMhers. T will now. present to. the *corrimittee:
an account of the'estimated revenue and eeiPendittire for
the year 1853-54.. With' regard to the expenditure, the
charge forth e funded debt is pit down at'27,500,000/.,
and the charge for theunfunded`debt at 304;000/., *making
s„,total. for, the, debt of 27,804„000/. The ehargesen the,
consolidated fund will be 2,503,000/. ; the army estimates,
.16,025,0001 ;* the navy, 6,235,0001., not including the packet:
service ; the Ordnance estimates, 3,053,000/. '• miscellane-
ous, 4,476,0001..;. commissariat, 557,000/. ; the militia,' as
nearly as I can judge, 530,000/. ; the extraordinary vote
for ~the Kafir war, 200,000/. ; and the packet, service, ,I
think, may be fairly taken at 800,000/. for "the present
year. ' These items give a total of estimated' expenditure
amounting to 52,183,000/. I now come to 'the estimate of
anticipated revenue; I take the revenue. of the Customs
at 20,680;0001. • Excise, 14,640,000/. ; .stamps; 6,700,0001.;
taxes,-3,250,006/. ; and income tax, 5,550,000/. From the
Postolltce we expect 900000/. ' and frOni the Crown lands, ,
swelled. by 'the' addition , I -have alree,dy. referred , to,
390,000/..• from miscellaneous, sources of receipt (including,
390,0001..; from
being the capital Of the Merchant
Beauien's riiild, out of WhiCh we 'shall haVe to pay 80,000/.
during the present year bn account of pensions, and !the
whole of the remainder, I need not say, will be absorbed..
long before that charge for pension deases)46expect about.'
320,0001.,' and tibia old stores 460,00014 . TO these I yen- •
ture to add, though the items is necessarily one of tuieer-
tainty and 'conjecture, ;that I anticipate a saving of no Lisa
than 100,000/. from, the
,operations which, have been pro-.
posed to the,house in connexion with the exchange and ret
demptiOn tato*. It may,.certainlY, be.leSii, and it may, •
on the other hand, be more----the'final result, I hope, C will
show a considerable savingc I venture now to take credit
for 100,000/, on that account. Adding up, then, these va-
rious items, the Committee will find thatthey give a total
estimated income for the-. year of 52,990,000/. against
which we have. to set the total estimated (expenditure. of
52,183,0001., showing an apparent surplus: of 807,000/- •
Anxious, above ell, to avoid raising Undue expectations; I
am desireusto impress On the committee 'that •it must-t•
bear in mind that out .of this sum of- 800,0001. an amount
of 215,000/,' consists of moneys whidh do not proceed'
from laeithanent or' recurring sources; - but of moneys'
due simply to the year, and not to be repeated. Like-
wise, with -the tuieettainty connected with' the items
for the packet-serviee and for the Channel Islands' harebours, on which .my,:right hon,.friend at the head of the
Admiralty atid•llare-not quite sure whether we can or •
cannot venture to make a reduction in the sum printed in
the estimates, it is possible that the surplus I have men-
tioned may not be realized- to the extent of 100,000/.
Therefore, it will be More- secure -fot• the c ommittee to
assume that the surplus, instead of 800,000/., will be
700,0001., and to bear in mind that 215,000/. out of it con-
sists-of occasional payments. At the same time, while
giving this explanation by way of citation, my sanguine
hope is that we shall realise a surplus of 800,000/. This is
the state of, the account of the country, as I have endea-
voured to bring it up- to the present moment. The com-
mittee will not. have failed to observe that 'in reckoning
the estimated, income I have included a large sum amount-
ing to more than one'tenth of the Whole revenue, which,
from 1842 up to the present time, we have been deriving
free), the ineome4ax.• However the income-tax has at
lualiii.tgotieTseen. t lly expired,..ank .it. Will be-for the coin-
troPuble talat:coe'lobnAmi
on a detailed
emlicltietrlte whether. frr, not they . shall revive it.
Government with committee -
at
sae,frmaeidletnhgatt.h bfeorireiYivdeunttyutroe
eveneut'otuaspeix.epeettettioivneoffiathaenevei,Thweoref tarhee
attfiltf4tllitir,6*.tatieh I' ' briefly advert on,ace,ount-
eatanent
st.
of
has
interest • the h
om.tf predecessorpfezn.een lOll-ienaYAteectotpffileeed in
ntohwe fiffun
The
tfira
particular class. , Now,' as
menu wbiii."ea'dy.
mule by
ma horse knows
tfhreolpnrea
ssitdaetfiet7„
I.l3l.ajesty's Governmeat
of the Board •OP Trade," my right
propose to afford what they rust will be found eeneuel.-.-

able, benefit and reliefto that interest, without inflicting
sin annual, charge upon 'the public. (Hear.) But there was
another interest mentioned by the right hon. gentleman
oppesitelMr. Disraeli) -which has so much claim upon the
general sympathies of the house, that respect and consider-
atiOn demand that I shbuld not leave it without men-
tion ; I mean that which is called the West Indian interest.
(Hear.) With regard to that interest, I regret to say that
there is indeed little, if anything, that can be done by a Go-
vernment, in our view, consistently with its more extended
duties to the public, in fulfilment of, the requisition)
which that interest has preferred. With regard ton redue-'
tiob -of the duty on sugar, which is one.of its _requests, in
proportion to the fall in the duty upon'foreign sugar, so as
to Maintain the differential rate that' now exists .between
them, it is entirely impossible for the Government to hold
out the smallest hope of their recommendation being
adopted. (Hear.) With respect to the question of re-
fining sugar in bond, which is of 'a different: character, my
hon. friend the Secretary to the Trea.sury (Mr.. Wilson)
will take a future occasion of entering more at large . into
that, question ; but I regret to say that we have not dis-
covered any method of granting that privilege in the pre-
sent state of the law with respect to sugar which would be
satisfactery to the West Indians and to the refining trade,
and which at the same time would -not inflict very heavy
loss upon the revenue. (Hear.) With respect to the equali-
sation of spirit duties,-again I fear that really nothing re-
mains to be done in that respect. I believe the distillers
of this country consider that already the duties have been
somewhat more than equalised, all things considered, in the
case of the West Indies. -At all events, we are not prepared
to propose any change in the law in the nature of equalisa-
tion Of spirit duties as between colonial and domestic pro-
' duce. (Hear.) There is but one way-in which it has oc-
curred to the Governuient that they might entertain a
sangnine hope of being able, at, very slight charge to this
country, perhaps at no charge, to confer material .benefit
on the West Indies ; and that- is a way which, if it can -be
effected, will, I am sure, command the approbation of this
helm, because it is :by enabling them to economise the.
heavy expenditure of their own governuients-7-(hear)—a
heavy_ and now in many cases almost a ruinous expenditure.
the case of Jamaica, for exaniple, there is a public debt,.
the ininimum rate Of interest upon which is 6- per -cent,.
and the maximum 10 per cent., the capital -of the debt
amounting to about 500,000/. ; and 'if it were possible for
the:Government to -induce the Assembly of-.Japiaics, to
amend the vicious. constitution of that island,: and to' place
it ;ripen a foundation that would give scope for a strict 'cow:
•trol oyer expenditure, her-Majesty's 'Government would
then he disposed to recommend to this house to-employ the
great of this country in si;guarantee for 'the island -of Ja-
maica. (Hear.) rasyliot now inquire whether that would
entail a charge upon you ; I believe -it would entail none:
r'vkiald be the first to assert that there should be the 'tar
Most jealousy as to the-interposition of • the- credit of -this
country between debtors and creditors out. of this country
'--(hear)—but, considering all that has happencidio the
West Indies, considering'the effect that British 'legislation
has had in precipitating their difficulties, I 'do believe that
if we were able to point out a prospect of great and effec-
tual relief to Jamaica, to be indirectly obtained - through
an effectual reform in 'its government, this house would look
with a generous and a considerate eye upon any -proposal
for using the credit of this 'country in the_manner that I
have mentioned. (Hear.) That refers:to Jamaica,• which
presents at this moment by far the most urgent case of dis-
tress among the Wed India colonies: ' ram not sure that
-there is any other among those colonies which would be in
a condition to reqUest a similar interposition—(hear)—if
they did, it would depend Upon the case they showed.- I•
do_not think it likely that such a case will arise; all I mean:
'•t,o say at the present moment is,' that the-door would not be
absolutely shut against theni. pass on now from the col-.
lateral topic of the West Indian interest to'another topic
that connected with the Exchequer Loan' Fund. After all
that passed in debate in Deeetaber last, it Was evidently the
ditty of her'Majestfis Governinent to make a ftill investigii-,
tion into the transactions of that board. We have instituted
that investigation—we have presented the results in print to
the house—they are in a form so simple that an inspection
occupying only a few minutes will exhibit them to anyhon.
member. It appears from the figures there presented that,'
after debiting the Exchequer Loan Fund-I won't say with
every folly of Parliament, but-with every questionable or
ambiguous grant that was made—after charging thewhole of
this to the last farthing, yet such has been the sound discre-
tien exercised by the members and officers. of that board in
the loans they have made, that while they have afforded an
immense amount of local accommodation, they have like-
wise realised, after paying every expense that belongs to
the office, a net balance of not, less than .227,3001.,-Gear)
—which balance, if we put values such as. sanguine Men
might perhaps put upon certain investments that have not
yet been realised, it is far from impossible may be raised
to nearly 1,000,0001. of money to the credit of the entire
transactions of the board. (Hear.) It is our candid opi-
nion, under these circumstances, that the sentiments ex-
pressed by my right hon. friend the First Lord of the Ad-
miralty, in December last, in regard to the Exchequer
Loan Fund, are justified by the facts-7-(hear)--L-and it is not
our intention to propose the abolition of 'that system, Which
We think has been-both liononrable to those who have ad-
-ministered it, and highly-beneficial to the country. (Hear.)
I now approach a difficult portion of the task that I have
to -perform—the discusiion of the income tax. (Hear,
hear.) The first question that this, committee has to Con-
sider is, whether or not it will make efforts to -part with
the income tax at once. I do not say that such an alter-
native is impossible. On the contrary, I believe that by
the conjunction of three measures, one of. which must be a
tax upon land, houses, and other visihle property, of, per
haps 6d. in the pound, and another. a. system of licenses
upon trade made univei sal, and averaging something like
71.; and the third, a change in your scheme of legacy duties
—(" Hear, hear," from Mr. W. Williams; and other mem-
bers), it would be possible for you at once-to part with the
income tax. But her Majesty's Government do not recom-
mend such a course to the committee. (Hear.) They do
not recommend it because they believe, in the first _place,
that such a system would, upon the whole, be far more
unequal, and cause greater dissatisfaction than the income
tax ; they believe, likewise, that it would arrest other be-
neficial reforms of taxation ; and they believe that it
would raise that difficult question in regard to the taxation
of the public funds of this country in a form the most in-
convenient. (Hear.) I might dilate upon this subject,
but it is needless to do so. I leave it to those, if suchthere
be, who are prepared to recommend the immediate aban-.
donment of the income tax. Such is not the-recommenda-
tion- of her Majesty's Goverment. Now, in regard to the
income tax, I wish that I could possess the committee with
the impression that constant study has made upon my own
-mind of the deep and vital importance of the subject.. We
aro too apt to measure the importance of the subject by
the simple fact that we draw from this tax 5,500,0001. of
revenue. Sir, that sum is a large one, but the mention of
it conveys no idea to the committee of the immense mo-
ment and magnitude of the question. If you want to ar:
preciate the income tax you must go back to the time of
its birth ; you must consider what it has done for you in
times of national-peril and emergency—(hear, hear)—yon
must consider what, if you do :not destroy it—and I will
'explain afterwards what I mean by "destroy,"-what it
may do for you again; if it please God that. those times
shall return. (Hear; hear.) Sir; in- was in. the,crisis, of the
'revolutionary war that,. when Mr,- Pitt found the resources
of taxation were failing under him, his mind fell ba,ckupOn
:the conception of-the income tax .; and when he proposed
it to Parliament that great man, possessed with his great
'idea, raised his eloquence to an unusual height-and power.
-There is a description of the speech of Air; Pitt on that dc-
-casion, written by a foreigner, a well-known writer of the
day—Mallet du Pan—which 'I may.venture to read, to the
committee ; I believe, after the lapse of 55 years, it 'will he
-read not without- interest. (Hear.) - This, is an account
:which; in a periodical that ho-edited; he gives of Mr. Pitt's
speech in 1798 - ' • . • - - - '
,
" From the time that deliberative easemblies have existed,
I doubt whether any man ever heard adisplay of this natiire
equally astonishing for its 'extent; its, precision, and the
talents of its author. -It is not a speech" spoken by the 4,11-.
idster ; it is a complete course of 'public' edonciiiTy ; a work,-
and one of the finest Works;" upoii practieal and theoretical
finance that ever distifiguiShed the pen of a philosopher rid
statesman. We may add this statement to the learned re-
Searches of such men as- Adam Smith, •• Arthur Young,- ,rid
Stuart, whom the Minister honoured with his quotations, t'
,(Hear, hear.) I do, not know whether this committee 'are
aware how much the country owes to "the former income
- tax, but, because r deem it to-be-of vital inipertance that
you should fullyappreciate the power of this cohisaal
'en'-
gine of finance, I will venture to place before you, in what
I think an intelligible, and a striking form, the results
which it once achieved. I will draw the' cemparisen be-
tween the mode *which -your burdens were met during
that period of the war when you,liad nie income tax—dur-
ing that period-of the war when. yen _had the incometax
in, a state of half-efficiency--'-and dittingthat _last and most
arduous period of, the war, when-the income tax was in its
full power. From -1793 to 1798,.a Period of six years, there
was no income tax ; from 1790 to 1802 there was an income
tax, but the provisions of the law made it far less effective
-in proportion to-rate than it now is ; and from 1806 to 1815,
a period of 11 years, you had the income tax in its ;full
force. Now, every- one of us is aware 'of the enormous
-weight and enormous mischief that have - been entailed
upon this country by the accumulation of our.'debt—(llear-
,
hear)--but it is not too much to .84 that it is demonstrated
.by the figures that it ,need not' at this' Moment have ex-
_isted if there -had beedthe resolutions to submit to' the
income tax at an earlier peripd. (Hear.) This test I think
you wit admit is
.a fair one -together the whole
charge of government and war, together with the charge
of so much of the national debtas had accrued before 1793,
so as to make (if I may so express myself) 11, fair start from-
-1793. (Hear, hear.) The charge of government and war,
together with the- charge: of debt-incurred :before 1793,=
amounted on the average of thesix years down to. 1798 to
36,0 10,0001. a-year : the revenue of that period,, with all
the additional taxes that were laid on, amounted to'
20,626,0001. a-year ; there was, therefore, an annual excess'
of charge above revenue—charge for goyernment, war; and
debt contracted before.l793, including- the _charge Of debt.
contracted since 1793—0 f 'no less than 15,404,0004 (Flear,)
In 1798 you just appreciate the income tax, 'and ininiedi-
ately a charge-begins.. In the foursyears from 1799 tcilBo2
the charge for the same items that I have mentioned,Which
had been 36,000,000/ rose to 47,413,0001.- a-year.; 1)10 the
revenue rose to' a-year, and the excess for those
four years was -diminished by about 2,000,0001. a-year
instead of au annual excess of 15,400,0001-over revenue, it
was 13,689,0004 -But 'now look to the operation of the
tax from 1806 to 1815, during the, time when your exer-
tions were greatest and your charges were heaviest. • The
average annual expenses of war and government froni 1806
to 1815, together with the charge upon the debt contracted
before 1793, was 67,794,000/. ; but you• had your income
-tax in its full . force, and the revenue- of the country
now amounted to 63,790,0001—(hear)--and the deficiency,.
in actual hard money, which represented something like
double the amount in debt, owing to the rate at which you
borrowed—(hear)instead of being 15,404,0004 a-year, or
(as it was in the second period) 13,689,000/. a-year, was
only 2,004,0001. a-year from 1806 to 1815. (Hear, hear.)
Such was the power of the income tax. I have said there
was a deficiency annually of 2,004,0304,- but it is fair for
you to recollect, and it is necessary in order to present to
you the fact I want to place in clear view,, that out of the
65,791,0001. of charge that I have mentioned, about
9,5(0,0004 were due for charge of debt contracted before
1793, so that if you compare the actual expense of govern-
me:it with the whole expense -of war from 1806 to 1815
with your revenue when you had the income tax, it stands
thus before you—that you actually raised 7,000,0004 a-year
during that period more than the charge of government and
the charge of war. (Hear.) That; I- must say,- is to me a
most remarkable fact. (Hear.) It affords to Me the proof,
that if you do not destroy the efficacy-of this engine—l do
not raise now the question whether it is to be temporary or
permanent, which hold .to be quite a different question,.
-and I will go into. that -by, and by -it affords you the means
should- unhappily ?hostilities again break out, of at once
raising your army to.3oo,ooo,andycair fleet to 100,000,with
all. your establishments- -in proportion:, (Hear, hear.)
And, much as may be -said of ' the" importance—in
which I concur-=of an army reserve and navy reserve, and
of having your dockyards and your arsenals well 'stored,
important
say this fiscal reserve is no less (hear, hear) ; for,-
if it be used aright, it iaaneng*, _which ou maY re"
sort, and with which,' pal-Cloudy eliPloyed,--if unhappily.