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

HIGH WATER AT LONDON MUDGE

THE WEATHER.—SUN OPFICR, APRIL 19.
TFIERMOMETER, IN THE SHADE.
64—highest since noon yesterday.
48—lowest this morning and during the night.
69 this day at noon.

LONDON, TUESDAY, APRIL 19, 1853.

~.,...-__.,...._......_

;i1 •
: :"A

-;

DA: —Yorping 9 min. after 10 I Evening 50 min.aft .10
27inin. after n I Evening 0 min.aft . 0

BAROMETER, 29.99.
WIND, S.W.—Light breeze, and cloudy, with sunshb

_
tibt

Well, as we had anticipated, Mr. GLADsTorrE
remains firm and unyielding on the subject of the
Property and Income Tax. True to his antece-
dents, he refuses to make any concession whatso-

*aver. He still, and notwithstanding the implied
promises held out by the Ministerial Leaders of
the hereditary and representative branches of the

Legislature, refuses to recognise any distinction
between precarious and permanent incomes—be-

tween the fluctuating earnings of industry and the
certain proceeds of accumulated and realised pro-
perty. The country surgeon, earning 3001. per
annum, must still pay as much as the fortunate
owner of 10,0001. Three per Cent. Consols ;
and no allowance will be made for the expenses
incidental to his profession, and without which
he could not discharge the duties by means

whereof he can alone obtain an income to be

taxed. In like manner, the Barrister who

has to go to circuit, and to different sessions,

must pay on his full receipts, in the same propor-
tion as the proprietor of well-circumstanced

ground rents, and that, although the latter may

apply every shilling of his receipts to such pur-
poses as he may think proper, while at least 2001.
out of the Barrister's 3001., will be absorbed by
the professional expenditure which he cannot,
under any circumstances, evade or even diminish,
if desirous of extending or maintaining his prac-
tice.

We confess that we are in no degree surprised
or disappointed. We were' not misled for a mo-

anent by the insidious, and, as it now appears,
totally unwarranted intimations given by the -Earl

of ABERDEEN and Lord JonN RUSSELL. There
was a studied vagueness and uncertainty in their

declarations, which, while intended to convey the

impression that an equitable adjustment of the

present iniquitous system was fully determined
on, still bound them to nothing tangible, and left
too many loopholes for escape, to be receivedwith.

confidence. We felt that Mr. GLADSTONE could
not, after his speech on the DISRAELI Budget, with
any regard for his character or consistency us a
public man, consent to any modification. We
acted on this impression, and the accuracy of our
predictions have now been fully verified. With a
perverse and unyielding obstinacy he has abided
by his first determination, and will stand or fall
by an unmodified Income Tax. If the Fiscal Re-
formers be only true to themselves, we cannot
doubt which it will be. We would remind them
that no degree of expediency can sanctify an act
of injustice, and a more gross and infamous act of
injustice was never perpetrated than the equal
taxation of every description of income, without
reference to the source from whence it may be
obtained. It matters not that there are good points
in the financial scheme—and we shall freely and
-willingly approve the portions worthy of commen-
dation, the unmodified Income Tax is a damn-

ing bl.t, a plague-spot that must prove fatal to
the entire project, and lead to the removal from
office of the Ministry that have lent themselves
to a, proposal in every respect so inequitable.
As to the contemplated cessation of the impost
in 1860, we look upon that as being neither more
nor less than a gross delusion. What financier
can look forward with certainty to even three
years, much less seven. Before the arrival of the
time the country may be involved in a sangui-
nu and expensive war, or wars ; or even sup-
posing that the Exchequer continue in a prosperous
condition, and that everything progresss accord-
ing 'to theeilztansa. '
what
ngtine anticipations of the Right
Hon.
G at right has lie, we ask, to give
any pledge for the then Parliament, or legislate as
may to the surplus that e then arise ?or to forestal
the labours of his
successor
have (Lin o
too many promises,officece ? Unfortu-
nately, however,
to its
already violated, to yield
any credenceconvenientl
con-
templated cessation. It will be
too
tax ever to be relinquished. 1‘1....,0r
would
equitable
we have
it otherwise. If placed on a just an
foundation, it would unquestionably be the best
and most popular tax for the community.
We know not how the Fiscal Reformer how
JIUME and COBDEN and their coadjutors—can sup-
port a Budget the chief feature of which is the
total abolition of that important and highly pro-
ductive source of revenue which, as Mr. HUMS
_ _ _

justly remarked, " would, if fairly levied, give
10,000,000/.," and would enable the C HN-
CELLOR of the EXCHEQUER to make further
progress in the fall dvelopment
and more rapid
of the doctrines of Free Trade. On tet.is part of
the case, he must be defeated if any faith remain
in• public men ; and as this appears to be the ,

great principle of his Budget, it must prove fatal
to the entire scheme. The same may be said of
the inticipated ieductioni in 1855 and 1857. It
would be far better to grant the tax only for two
years, and to allow it to be dealt with according to
the then circumstances of the country. We regard
the tampering with the Income Tax, so far as
the reduction of the rate to 6d. and 5d., and
its intended abolition in 1860, as nothing
but " a mockery and a delusion," and the
refusal to listen to the voice of public opi-
nion, or to carry into practical operation the
implied promises of his Ministerial leaders as a
most unaccountable and totally indefensible piece
of effrontery, an insult which it is to be hoped that
the independent representatives of independent
constituencies will know how to resent and
avenge.

As to the proposed enlargement of the area
of taxation, it is only necessary to say, that
the Right Hon. Gentleman adopts so much of his
predecessor's Budget as to make incomes of 1001.
a-year liable, but they are to be charged only at
sd. in place of 7d. in the pound. He also ex-
tends its operation to Ireland, precisely under the
same conditions and for the same term as
for England and Scotland. No person can
fairly object to that extension, more espe-
cially as it is to be accompanied by an ample
equivalent in the shape of the remission of the
Consolidated Annuities amounting to 4, 500, 000/. ,
all payments whereof on account of sales which
occurred subsequent to the 29th of September
last are to be returned.

By far the best part of the Budget is the ex-
tension of the probate and legacy duties to real
estate. This was an act of simple justice which
the middle classes had long demanded, and which
could not long have been witheld. Its exemption
so long afforded a striking instance of the undue
favouritism exhibited towards a powerful class,
and the predominance of class legislation. The act
of tardy justice will be received with all but
universal approbation. This source of revenue
alone will produce nearly 2, 000, 000/. sterling
per annum to the Exchequer, and it enables the
financial Minister to give extensive relief in other
matters. He also adds is. per gallon to the duty
on „spirits in Scotland, and 811. in Ireland. giving
hini an addition of about half a million ; but,
inasmuch as he makes allowance for the waste in
bond—the propriety of which we have so fre-
quently' pointed out—the addition to the revenue
from spirits is only estimated at 436,000/. We do
not object to this ; the only limitation to the tax
on spirits is, that it should not be so high as to
act as an incentive to illicit distillation. Some
years since, an attempt was made to add is. in
Ireland, which was speedily relinquished. It re-
mains to be seen whether the Bd. will have a
better fate. The allowance for waste in
bold, was so plain a matter of justice, that
it dould scarcely be resisted, even by the man un-
able to discriminate between realised and indus-
triail. income.

So much for the additions to the existing
sources of revenue. The reductions are nume-
rous and important. The Soap Duties will be
conikpletely abolished. Men may now wash their
garinents, or their faces, without paying a tax on
cleanliness. This alone will absorb 1,111, 0001.,
but as the impost will remain in force until July,
the: loss during the present year will be only
771,0001. This highly acceptable boon will be
received with generalcommendation. In the Stamp
Duties there will be a reduction on life assurances
fro+ 25.6 d. to 6d. This is perfectly correct. A tax on
prudence should not be maintained. But why is no-
thipig done on fire assurances; a person now paying
is. 6d. by way of premium, has to pay an additibnal
3s. I2id. to the Government, the most monstrous
and/ unreasonable charge ever levied. Receipts
are 'to be reduced to an uniform Id. rate, a judi-
cimis and proper concession. There is also to be
a gieat alteration in the assessed taxes. Those
on private carriages, men-servants, horses, and
dog+, being dealt with. Hackney carriages are
alsd to be reduced by one-third, and the Post-
horse Duties to be abolished, or rather levied
under another form by way of licences.
-en the Customs, Tea is, according to Mr.
DISRAELI'S proposition, to be gradually reduced

to a, shillincr. and a variety of other small duties
deat with—all the changes being beneficial, and
meriting general approbation.
On the matters where the Right Honour-
ablei Gentleman has already sustained de-
feats, he only partially carries out the resolu-

ion of the House. The duties on Attornies'
Certificates, in place of being abolished,

are 'to be reduced from 121. and 81. to 91. and 61.
respectively. The Advertisement Duty to be
reduced to 6d., notwithstanding the recent deci-
sion of a decisive majority that it should be alto-
gether repealed. We trust that Mr. MILNER GIBSON
and those by whom he was supported will not accept
thiS compromise. It would not, we believe, have
been attempted, but for the private memorial of
persons connected with three morning journals—
the .Herald, the Chronicle, and the Daily News—
who separated themselves from those with whom
they had previously been acting, and thus weak-
ened the force of the movement. The total
repeal of the Advertisement Duty, will, however,
we , hope, be enforced, notwithstanding this
inexplicable and injurious secession. The only
remaining feature worthy of notice is the sop
flung to the Leviathan, and which will fix on the
present scheme the name of " the Times Budget."
It is too manifest that this remission, which, in fact,
can only be felt by one journal in the Empire, is
intended to appease the anger of our contempo-
rary, at the neglect of the interests of the
Income-tax payers under Schedule D. Its
effects may be judged of by the extravagant
eulpgiums bestowed on the entire project by our
disinterested contemporary, and its overwrought
and fulsome panegyrics on " the great enter-
prise (1), the rare opportunities (! !), and the high
favour of HEAVEN (1 I !), to which the people owe
thep ossibility of these great, almost unexpected, re-
ductions from their now hereditary burdens" 11 !
Well, 40,0001. a-year is a great deal ; but still
we should not have supposed such servile flattery
would have appeared in any paper desirous of
maintaining an unblemished reputation.

Reflection can only impress, more and more
strongly, upon the public mind, the cruelty of
the attacks which have so frequently been directed
against KOSSUTH, the illustrious Leader, and
once the Liberator, of the Hungarians. The ex-
posure of all these infamous endeavours to depre-
ciate his character cannot but tend to elevate him
(if that be possible) in the estimation of every
honest Englishman. The latest of these despicable
attempts at insinuation, while it was undoubtedly
the most flagrant, was also, at the same time, the
most paltry and the most utterly contemptible.
KOSSUTH implicated in the seizure of a large store
of arms and ammunition ! The search made by
order of her MAJESTY'S Government ! This
atrocity bruited abroad as an important discovery
by the Times and other rejoicing newspapers I
Considerable talk about satisfying the ends of
offended justice, of inflicting summary punish-
ment on the refugee conspirators, and of enter-
ing into conciliatory explanations upon the
occurrence with the Austrian EMPEROR and his
advisers ! Many were deceived by this confident
bluster—and yet the whole transaction turns out
to be nothing more than a political mare's nest
immediately it is brought under the considera-
tion of Parliament. It can scarcely be for-
gotten very soon, that the " large store of
arms " consisted of sundry unloaded shells and
rockets I That not an ounce of powder was com-
prised among all this formidable " ammunition !"
That the house belonging to KOSSUTH—who re-
s i de:e,nbt ya_ptahrk_
e w ay, out in the direction of the
proves in the end to be an old
warehouse at Rotherhithe! That these premises
hthaevelast six years actually been
bknown to be so occupied during
ythe servants
u ttlittle
stock o f theof
unloadedCß ow N !
this And that miserable
h 11 and
shellsrockets had • •
offered, more than. once, positively, of late, been
for sale to her MAJESTY'S
about Government. The story the Cock and the
Bull in "Tristram Sitaltd
It might have extorted an oath
s nothing to this.
oath fro
much more readily than the threatened UNCLE To BY
death of
LEFEVRE—and an oath, too, such
as the Record-

ing Angel might quite as willingly have obliter-
ated.

After this, it is seriously to be hoped that the
enemies of that great man who has taken shelter
on the shores of England—if they cannot respect
his solitude either in homage for his genius or in
sympathy for his misfortunes—.will be somewhat
more cautious in future before they again venture
to appear as his calumniators. Hitherto they have
failed notoriously in each of their mean and de-
testable attacks upon his reputation. It were well
fox themselves if henceforth they evinced upon
this subject somewhat more of circumspection,
and well also, let us add, for the honour and glory
of British Journalism.

Scarcely a month has gone by since we were
told that KOSSUTH was associated with MAZZINI in
stirring up the last melancholy semblance
of an Italian insurrection. In proof of
this :assertion notice was drawn to a rather
remarkable proclamation. The people were re-
commended to observe that this proclamation,
posted on the walls of Milan during the dis-
turbances, was formally authenticated with Kos-
SUTH'S signature. Well, we all know by this
time how true that was. We all know tolerably
well that the document turned out to be—
a forgery ! MAZZINI might argue the point
ingeniously •uough, with his sophisms and
quibbles—but there the matter stands plainly
and unmistakeably before the world—a for-
gery, if there was such a thing as a for-
gery ever perpetrated. Then—it has not been
forgotten how many scandalous rumours came
floating across the Atlantic to us from the United
States—attributing to the noble-hearted Magyar
a willingness to trade upon the interest excited in
America in behalf of the unfortunate Hungarians.
How far there was any accuracy in those im-
putations we have learnt no less fully long
since and if there should still remain,
in some minds, any uncertainty upon this
point, nothing more is required than to glance
over the truthful pages in which the PULSZRYS
haVe recounted their travelling recollections.
Det?rred, however, by no consideration of this
kind, the traducers of KOSSUTH have been reviving
their old fables about plots, fire-arms, and refugees
—with a view to cast odium upon the cause of
one who has ever acted throughout his career
with the valour of a Hero, and with the candour,
the boldness, and the simplicity of a PATRIOT
STATESMAN. How utterly they have failed in
this last wretched endeavour we have seen.
Doubtless their want of success in the present
instance will in no way prevent them from renew-
ing their attempt at the first available opportunity.
However, a word in your ear, 0 public !—hence-
forth you will know what confidence to repose in
the assurances of men who are the convicted tra-
ducers of the brave unfortunate !

MONEY MARKET AND COMMERCIAL
INTELLIGENCE--(THIS DAY.)

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were esti-
mated at 6,000 bales, of which 1,000 American were
taken for export and on speculation. The market closed
tamely, without alteration in prices. The sales com-
prised 4,500 American, 330 Pernam and Maranham at
6d. to 7/d., 100 Bahia at 6/d. to 61d., 400 Egyptian
at 61d. to ls. 2d., 300 Surat at 34d. to 4id., and 200
South Sea Island at ls. 9d. to 2s. 6d. per lb. Rail-
way Shares were very inactive.
The elaborate financial statement of the Chancellor of
the Exchequer has necessarily been the subject of exclu-
sive attention in the City this morning, and, although
it is yet early to speak of such a complicated scheme in
all its details, and to assert precisely what the popular
feeling may be in reference thereto it would be as well
to mention what some parties think of the matter in
mercantile circles. As respects the income tax, that
is a question affecting the masses, and therefore
more properly left out of account in any remarks under
this head. The idea, among business men, has long
been that a property tax, upon a comprehensible scale,
would be very desirable; and they think, with Mr. Hume,
that this could be so levied as not to bear onerously upon
the wealthy classes, and yet to yield to the Exchequer a
very large annual revenue. Upon another portion of
the project we may say there is unequivocal satisfaction,
namely, the intention to abrogate the duties upon
articles which have proved so vexatious in the Customs
list, and which were a mere remnant of those anomalous
duties swept away by Sir Robert Peel. The collection
of duties and the convenience of the importer will be
alike consulted by the free admission of these various
items. Then as to the Tea Duty. All who havA paid
attention to this subject are aware of the strong evidence
brought forward that there would be little danger in
an immediate and permanent reduction ; but as
this article has so long baffled the exertions of
the Customs reformers, many are thaokful that an alter-
ation is at length decided upon. The soap duty is, per-
haps, the most important remission of the whole, the
manufacture of the article having yielded a profit so
absurdly low thanks to the Excise restrictions, as al-
most to involve the danger of ultimate dependence upon
foreign supplies. The African trade, as the Chancellor
remarked, will be benefitted, and, it may be observed,
that in the north of England, where the preparation of
alkalis employ some seven or eight thousand persons, the
reduction will be a great boon. It is in a sanitary
point of view, however, that the abolition of the duty
will most meet with approval. The receipt stamp alte-
ration is one of considerable importance, and the only
difference of opinion seems to be with regard to the pro-
priety of affixing an ordinary penny stamp which might
be liable to removal either by design or accident.
The convenience of the plan, however, is uni-
versally acknowledged, and considering that receipts
on stamps are now scarcely given where cheques
pass, and that no jury would return an adverse
verdict upon proof afforded that such cheque had gone
into the hands of the creditors, it was high time that the
alteration was made. The life insurance duties being
modified will afford benefit, and the least encouraging
part of the statement is that leaving the paltry charge
of 6d. on advertisements, which will be as expensive to
collect as the old rate of ls. 6d. Parties in -the
habit of advertising extensively consider that the
supplements might, for the present have been left un-
touched, since they affect so few newspapers, and. that
the whole advertisement duty should have been taken off
instead. Whether the continuance of the income tax,
even its modified form will be held a sufficient compen-
sation for the taxes to which we have here adverted may
be better determined when opportunity has been given
for mature consideration and public canvass, opinions
being always crude, and frequently erroneous, when
based upon first impressions.
There has not been much business doing in English
Stocks, but generally they are a little weaker. The
prospect of the conversion scheme being carried is one
cause of support, however. Consols have been
done at 1001, but since are as low as HO 1
for Money, the Time prices being 1004 to 101.
The New 3! per Cents., after being 1031 4, are now
1034 to A ; and the Reduced 3 per Cents., which were
100/, at present realise 994. Bank Stock has been, firm
at 226 and 2261. India Stock is steady, at 262. Ex-
chequer Bills of June are ss. to 9s. prem.
The Spanish Certificates have advanced this morning,
being quoted 7to 74. The New Deferred Bonds are at
24. Peruvian Scrip is worth 34 to 4. Peruvian and
the Deferred maintains the advance to 67 and 67g.
Equador Bonds have touched 6f. Grenada Active
Stock is worth 24. Brazilian New Bonds have been
994 to par. Mexican Stock is at 284 to 4, and very
firm. Venezuela have been done at 384. Dutch Four
per Cents. have been quoted 964 to 974.
The market for railway shares has been very inactive,
but the quotations are firm, especially for North-
Western, Great Northern, Cork and Bandon, and Water-
ford and Limerick. The French lines also are higher
in some instances, including the Western and the
Beziers to Graissessac.

The Gold Mine Shares have been rather firmer, and
the Brazilian Cocaes has recovered a little.
Joint-Stock Bank Shares have been very quiet and
nominally rather heavy.

BRITISH FUNDS THIS DAY.
( From the Official List.)
_ Business done.

Bank Stock
3 per Cent. Reduced Annuities 991 100 i 94 f i
3 per Cent. Consols Annuities
New 31 per Cent. Annuities
Long Annuities, Expire sth Jan., 1860
Ditto 30 Years, Expire 10th Oct., 1859
Ditto 30 Years, Expire sth Jan., 1860 6 3-16
India Stock
South Sea Old Annuities
Consols for Account
Exchequer Bills lid. June. March.
£lOOO..
£5OO —
Small 9
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent.
Ditto New Bonds, 1829 d; 39, 5 per Cent 99 100 99A
Equador Bonds
Grenada Bonds, Deferred
. -,.4

Ditto Ex. Dec., 1149, Coupon
Greek ex over-duo Coupons
Mexican 3 per Cent.
Ditto for the Account
Peruvian Bonds, 4i per Cent.
Peruvian Scrip 34 4 p
Peruvian Deferred 3 per Cent.
Portuguese Bonds, 4 per Cent.
Spanish Bouds 3 per Cent 4Bi
Ditto New Deferred, 3 per Cent 24:3
Spanish Committee Cert. of Coup. not fun 7l 7 i p c
Venezuela Bonds, 31 per Cent. ..........
Belgian ,4 per Cent.
Butch Exchange, 24 por Cent. 12 Cull.
Ditto 4 per Cent. Certificates . 971 61

THREE O'CLOCK.
Consols.
Ditto May Account , 100 a i

4 birb tettittoit

YORK RACES.

(THIS DAY.)

(BY ELECTRIC TELEGRAPH.)

CRAVEN STAKES.

Broughton
Audubon
Four ran.
ZETLAND STAKES
Wild Huntsman
Horatio

Three ran.