The Sun.
London, England, 1836-05-07 00:00:00

mouse, advocates for the entire repeal of the duty, who would running into such wild schemes as, unfortunately, they some-
much rather that the whole of the duty should ba preserved, times found instances of. If, at the prevent moment, any
than that it should be reduced to the amount to winch I pro- such schemes existed, he believed that in the course of a very
pose to reduce it. They believe, no doubt, that a penny. few months there would be an end to them. He wished that
duty will be more injurious to the unlimited license of the the Right Hon. Gentleman had taken the trouble to bring be-
press than the amount of duty as it now stands. For my part fore the House the great increase which had taken place in
lam convinced that in three years a larger amount of revenue the import of almost every article on which • ie tehferah•
illioalddabretieenleas
will be derived from the penny duty than front the duty at its decrease of duty. The increase
thoughtosom t
present amount. I believe a duty of a penny to be a reason- was perfectly enormous. out
.an
able duty ; and one that I have a reasonable chance of carry- encouragement to the ouse to reduce all shouldthose taxes which
lug ; and, therefore, whatever objections may be made to that had been imposed during the iar, and the continuance or a hii 1
duty by the two opposite parties, I shall persevere with it, operated in a direct and powerfulv manner to check and impede
Unless I find the House adverse to the proposition It is a the commerce and manufactures of the country. _( ilea,
proposition which I bring forward for the purpose 'of raising The CHANCELLOR of the EXCHEQUER begged
to say one or two words in reply to some of the observations
the revenue ; of defeating the existing opposition to the law ; of
which had fallen from the lion. Member for Aliddlas '
preventing the law, the authorities of the coin& e, aad the
Ilion Gentleman had asked why he (the Chancellor 'ofext'he ThatE-
Government front being brought into contempt ; and of de-
fendMg the fair trader, who is now exposed to a most unjust e ie,quert.did not repeal the Whole of the duty on glass ? In
repiyto that questio, he could onl state hat the general
competition. If these are not grounds fur submitting my pi•o-
principle upon which he had acted wag to reduce the dies, to
Position to Parliament, I know not what are. Aly proposition,
therefore, is to reduce the newspaper stamp duty front its pre-
such a rate as not injuriously to press upon any particular -ma-
sent amount of fourpence, minus the discount, to a penny._
nu,teture, but at the same time to continue so much of it as by
( Hear, hear. " When to commence ?") I propose the reduc-
tion to commence on the sth of July. Such had been the re- annak increasedconsumption of the article manufactured should
-
for the dficiency which would otherwise be oc-
commendation of individuals connected w etith, and interested in, lasioeneldMin the revenue. T w
here as one other topic to which
the regular press. The total loss to the Revenue which I anti- he wished to refer. . The Hon. Gentleman seemed to think
cipate in the present Year, front the reduction, is 150,000/. But that the observations which lie (the Chancellor of the Excite-
that will be considerably diminished by the increase in the pro- query
had made with respect to the spirit of speculation which
duce of the paper duties which the augmented consumption of at Present existed implied an apprehesion on his part of some
Paper must occasion ; and also by the increase in the number imi)endinrs calamity. That was not the case. But it in re-
f newspapers and the number of advertisements. This is one
f:r, country,ritb a
he had not at the same time stated that which he
to the general prosperity which now
seemed to pervade
o
of the instances to which I alluded in a former part of my speech, the
of concession in a quarter, from which concession compensation believed to be true, that there were circumstances connected
in other points may be expected. I am afraid, however, that with the spirit of speculation now generally abroad which
I must resist the applications which have been made entirely
ought not to create apprehension
on and vigilanceP of Parliament—if.ension or
a''arm
lie had not done this,, but to excite the
to repeal the stamp duty on Irish newspapers. In the first attention
place, I am making a large reduction in that duty by reducing
he thought he might very fairly be accused of having neglected
it from two-pence farthing to a penny. In the second place an important part of the duty which attached to one filling the
that penny can be considered only as a moderate postage. mportant and responsible situation which be did.--( Hear.)
Ever, if the whole of the duty on Irish newspaper stamps were Mr. G 0 ULB UR N inten aed to conform with what ap-
repealed, the proprietors would not be able to reduce the price Peered to be the general feeling of the House, and with what
.he considered the best practical mode of dealing with the sub-
of their papers a penny. I intend, however, to propose a re-
duetin
nin the duty on advertisements in Irish newspapers; jest before them, and to abstain from enteriws into any detail
leaving the stamp duty the same as that on the English news- on the various points which the Right Hon. Gentleman had
papers. It is my intention also to propose a reduction in the suggested with respect to the repeal of duties, until each in-
insurance duty on farm buildings, extending to some dcscrip- dividual subject was brought in a proper shape before them.
tions of stock, which will probably come to about 20,000/. ; as He knew from experience that the attention of that House
also in some of the duties on taxed carts, amounting perhaps would never be given to any question which was not broueht ,
to 5,0001. The total of the repeals which I propose, I esti- before it in a palpable and tangible shape; and, therefore,
mate at 351,0001. in the present year, and 520,000/. when av) on that ground alone, he should forbear from entering into
they all come into active operation. But, Sir, it is well the various questions to which the Right Hon. Gentleman had
known that in proportion as the taxation upon any article is eferred. There was, however, one part of the Right Hon.
Gentleman's speech upon which he thought he might be decreased, the consumption of that article is increased. It
ex-
is not, therefore, to be apprehended that the revenue will cused for making one or two observations, because a subse-
eventually and actually lose the sum of 520,0001., even in quest opportunity of doing so would not be afforded him.
the second year of the operation of the repeals ; but I With the views which he (Mr. Goulburn) entertained upon
think it prudent to make that my estimate of the loss. the Report, he thought it particularly desirable that whenever
On the subject of marine insurances I have not been able they had before them the financial statement of the Chancel.. 1
to obtain ii:formation sufficiently accurate to justify me in ler of the Exchequer, and when they were called upon to 1
making any proposition on the subject ; and indeed when consider how they should deal with the surplus, and what
it is recollected that the surplus is only 660,000/., and amount of surplus should be allowed to remain— when these
that I propose to repeal 350,0004 leaving a margin of only matters were brought under their consideration, he always
300,000/., I think it will be generally admitted that I should thought it advisable to remind the House, that in addition to
not be warranted in going any further.—(Hear, hear, hear.) the duty which was imposed upon them of giving the utmost
On these grounds I trust the House will receive the state-
relief in their power to the suffering of any particular class,
ment which I have made to it nith favour. They are not or to the pressure upon any particular class arising from taxa-
called upon to come to any specific vote to night. All I re.. tion—( Hear)--they had yet a duty more urgent, in his
quest Hon. Gentlemen to do is seriously to consider what may view, and one from which they ought never for a moment
to shrink—that of considering the ns ees, ity of providing, not
be the consequence of maintaining the Newspaper Stamp
go
.only for present means and present convenience, but of Duty at its present amount. I ask those who may wish to
ing what was the state of that great debt which pressed upon
regard-
further on that point to consider the impracticability of doing
the country, lightly now, perhaps, in moments of ease and
so, and to remember that great good will result from going
comparative prosperity, but which, in more difficult and tem-
so far, Sir, I regret having occupied so large a portion of
the time of the Committee, and I am quite aware of the dul-
pestuous times, if not properly attended to now, might press
tress of my statement. But I preferred a plain and un-
upon the nation with a weight scarcely to be supported.—
( Hear, hear.) If he (Mr. Goulburn) found any fault with
adorned exposition of the public income and expenditure,
and of the general financial condition of the count the statement of the Right Hon. Gentleman, it was that he
ry,
ite-
to
had passed over all reference to that question in one single
ment.—(Hear, hear, hear.) But I cannot sit dawn with-
any address that might possess more of novelty and exc
sentence, and merely told the House that the National Debt
out repeating, that while we have every reason to be
had undergone a reduction by thin conversion of it into termi-
nable annuities.---( Hear, hear.) But when they looked back,
gratified with the present prosperous condition of the coun-
A try, there are indications in that condition which call for as they ought to do, at this mode of dealing with the debt,
the exercise of prudent vigilance on the part of every they must bear in mind how small a proportion the terminable
Honourable Gentleman. In the general commercial excite-
annuities bore to the mass of the debt with which they had to
!tent, in the general spirit of speculation, its the increase in deal—( Hear, hear)—and they must also take into view, that
the number of banks, and of various hazardous undertakings whilst they considered the reduction of the funded debt, they
,
Hon. Gentlemen must see circumstances which require their must not forget the annual increase of the unfunded debt.—
(Hear, hear.) Now he (Mr. Goulburn) having before him
vigilant attention. I do not apprehend any very extensive
evil from the circumstances to which I allude; but although the finance accounts for the last five years, had taken the
trouble to draw out a statement of the progress which, during
they do not justify alarm, they certainly justify,. as I have al-
that period, had been made in the reduction of the debt. He
ready observed, a prudent vigilance. Sir, I had nearly for-
gotten one thing which, if I had absolutely forgotten it, the found front those papers, that in 1831 the total charge of all the
Hon. Member for Exeter would never have forgiven me. It debt, including the interest on the funded debt, what was paid
is that, I shall be prepared to repeal the additional duty of of terminable annuities, and what paid for unfunded debt,
amounted in round numbers to 28,350,0001. In 1836, taking
-So per cent. on spirit licenses, taking as an equivalent the in-
the account which had that day been printed and placed in
creased consumption of spirits which will thereby be pro-
their hands, and which, perhaps, did not present an exact
duced. It has been said that the duty on spirit licenses presses
analogy, being made up to the quarter ending in January in-
unequallv:and unfairly, and it is therefore that I relinquish it ;
stead of that ending in April, but which lie was obliged to re-
but I hope that those who are of that opinion will aid me in
sort to, having no other—by that account, he observed, that
obtain!ng the compensation which I have in view. Sir, I
thank the Committee for their great patience and indulgence, the total amount of the charge of the debt last year was
I feel that I have pressed heavily on those qualities ; but I 28,784,000/., being an increase in the charge of the debt since
have no alternative. I will now move my first resolution. If the year 1831, of upwards of 400,0001. ; and that not inelud-
ing the annual interest on the West India Loan. This in-
it should be considered informal to adopt it under the ch.-
c
Cumstances, you, Sir, can report progress, and obtain leave to crease in the charge of the debt, too, it must be observed, had
sit again; otherwise it is one upon which the Committee may taken place notwithstanding the advantages which the Go-
at once decide.--(Hear.) vernment had enjoyed since the year 1831, of relieving the
The rerolution was then put from the chair_ country of an annual burden of 50,0001., by a reduction of the
Mr. DIVETT had not been sanguine enough to expect Four per Cents., and also by another obtained" from the altered
the repeal of the whole of the late additional duty on spirit bargain with the Bank of England of 100.000/. With all
licences; but if the these advantages they were now about 450,0001., worse than
state of the revenue would permit such a
?eduction it would be the means of removing a well-grounded they were in the year 1831. This was a point to which he
cause of complaint. , , a
tnougnt tne attention of the House ought always to be
Mr. E WART and Mr. PR YME severally put questions directed. They had been constantly and were still constantly
to t:ie Chancellor of the Exchequer, with reference to some in the habit of issuing annually an augmentation of Exche-
Part of the statement he had just made ; but the questions
quer Bills, and thence in a great degree arose the increased
themselves, as well as the answers to them, were totally charge which he was anxious to point out, in order that steps
inaudible. might be taken for its reduction. In 1831 the unfunded debt
Mr. HITME was also for some time inaudible, in conse-
amounted to 25,600,0001. In the present year it amounted to
about 29,000,000/., being an increase since the year 1831 of
quence of' the noise occasioned by Members leaving the
douse. Upon the whole he thought that the details into 3,400,000/. He begged the House to understand that he did
Which the Right Honourable Gentleman had entered must not wish to interfere with the course which the Government
adapted in issuing Exchequer Bills ; but what he con-
-1,3e most gratifying to the House. No part of the statement
tended for was this, that as the repayments came back,
had been more satisfactory to hint (Mr. Hume) than that in , House ought to see that they were applied to the re-
tne
Which the Right Honourable Gentleman had pointed out
duction of the debt.—(Cries of °' Hear.") Then, with respect
advantages which had arisen in consequence of the repeal of
to the terminable annuities. In the year 1831 the quantity
the duty upon beer. The Right Honourable Gentleman had
stated that the surplus revenue for the present year would of terminable annuities amounted to 3,300,0001. At the
:mount to something more than 600,000/. But if there present period it appeared that they amounted to 4,070,0001.,
had not been what he (Mr. Hume ) mutt still call a ver y
Leong an increase of very nearly 700,0001. He (Mr. Goul-
burn) thought that in that statement of facts, which, as far as
unnecessary increase in the naval force of 5,000 seamen, there
the papers upon the table of the House could bear him out,
would have been a surplus of at least 1,000,000/., of which
400,003/. might have been applied to the general reduction of he would undertake to say was a fair and correct one, there
taxation, No reason whatever had et been assigned
were circumstances which called upon the House to exercise
y for the the greatest caution in dealing with any surplus which the
increase of the naval force ; and no one. he apprehended,
Would contend that a reduction of 400,000/. in the amount of Chancellor of the Exchequer might contemplate.—(Hear,
hear.) He thought the present the proper moment to make a
taxation would not be hailed by the country as a great boon.
statement of this description, in orderk that before they came to
It was not his intention at that moment to enter into the ques-
the discussion of the various repeals of taxation which were to
lion of the tax upon newspapers, seeing that a much better op_ the
proposed to them, they might bear in mind how those repeals
Portunity would be afforded hereafter ; but lie could not ab- would operate with regard to the views which he had taken of
gain from stating that he thought there were many other
the subject ; and he hoped, also, that if some lion. Gentlemen
taxes,, which could be repealed with much greater advantage. were disposed individually to press for the reduction of parti-
,,'he Right Honourable Gentleman had alluded very pro-
cular taxes, they would not forget the state of things which he
Poorly to the unpopularity and difficulty which his pre-deces- had endeavoured to bring under their consideration.—(Hear,
c'l'i Lord Spencer, had to encounter in carrying the law With
hear.) respect to any other part of the statement of the
into effect with respect to stamped publications, and it was
Right Hon. Gentleman, he had only to join in what appeared
also true that the steps taken to enforce the law had not to be the general feeling that there was an existing state of
j'ean effectual. For two or three years past the prisons
presperity in the country which called for mutual congratula-
u„,fi been filled with victims to the tax upon newspapers.
tion, hut which he thought, with the Right Hon. Gentleman,
uPwards of one hundred and fifty individuals had been int- was not such as would warrant any exuberant liberality in
ironed for selling unstamped papers; yet, notwithstanding
dealing with the finances of the country. He thought with
the severity of the law, it was found that the sale of unstamped the Right Hon. Gentleman, that they would be dealing
I.),Pers, instead of being diminished, was every day increasing.
much more prudently if for the next year they calculated
't Was highly necessary, therefore, that a change should be upon a less prosperous state than that which had sprung up
fade in the law upon this subject with as little delay as pos.
between the last and the present year. Having adverted to
n."hle. lie must say, however, that he thought the Right these, which were the main points pressing on his mind, he
Tiede
Gentleman the Chancellor of the Exchequer had not had now only to advert for a moment to a matter which Par-
a very fair statement as to the result that would follow took somewhat more of a personal character, and which arose
`L'e repeal of the Duty on Newspapers. Would the House, out of a converaation which took place between the Ri.ght
442,5_k05l the Right Hon. Gentleman, submit to the reduction of Honourable Gentleman and himself on a former occasion,
That was
out of a source of revenue producing only 600,000/.? when lie (Mr. Goulburn) presented a petition to the House
~4nat was not a fair statement, because the reduction of the on the subject of the proposed reduction of the Newspaper
ale
would not, in fact, be 400,000/. The increase in the
Goulburn) did not then propose to enter
pe of news apers arising from the repeal of the tax would ,Stamp. He (Mr.
into the question of whether the reduction of that duty would
:Id to a corriesponding increase in the productiveness of the be proper or improper—he would not even advert to the
~,lt,Y on pa ere and this, added to the optional penny-post tax point which he was anxious to bring under the consideration
licit it Zs proposed to continue upon newspapers trans- of the House when he presented the petition—all that he
dried througli the Post-office, would, -in his opinion, be
I wished to do was to reply to an observation then made by the
„„e41%3' safficient to supply the deficiency occasioned by the Right Honourable Gentleman. The Right Honourable
di. of of the Stamp Duty. But he would leave the further Gentleman was understood to accuse the petitioners with
%:'•cussion of this topic until the proposition was brought for- 'unfairness in coming before the House with such a complaint
444, (which it most assuredly would be) for the total repeal as that stated in their petition, having had a communication
th t"e Stamp Duty on Newspapers. Quitting that subject, with him (the Chancellor of the Exchequer) on the subject
Ste ells lie wished to ask the Right Hon. Gentleman whether of the proposed limitation of the size of Newspapers, and he
to atbd not think that the whole of the duty upon glass ought having reason to believe that they were satisfied with the
I, e repealeu ? He wished the Right Hon. Gentleman to be limitation he proposed. Since the statement of the Right
Ito upon that point.----(A laugh.) He wished the Right Honourable Gentleman had gone abroad, he (Mr. Goulburn)
had received letters upon the subject from several of the peti-
the'''. Gentleman would these, what was the cost of collecting
I' n'"'ali amount of duty on that article which was still con- tioners. He had one from the editor and printer of the Times,
4n,,d•--(Hear.) He -wished the Right Hon. Gentleman in which they stated that they neither directly nor indirectly
tr state whether the whole amount of the revenue derived agreed to any proposition for restricting the size of any News-.
paper, or authorised or deputed one to communicate with
in' t'."l,that particular source much exceeded the cost of collect-
the Chancellor of the Exchequer any
on the subject. He had
4ak‘tist_, If it did exceed the cost of collection at all, he was
ttu,iti'u that the excess was. not so great as to warrant. a conti- also a letter from the editor and printer of the Morning Post
couched in similar terms. Neither directly nor indirectly had
'shy, of the tax. With regard to the stamp duties gene-
qatj,;,_urne hoped when tile proper time came the Right Hon. they been concerned in the proposed measure for limiting the
A tb.eer.an would be prepared to state that he contemplated size of Newspapers. He (Mr. Goulburn) thought it but
ittain7lntedial reduction ; because, as be_ (I‘lr. Hu had beenjust that the Right Hon. Gentleman should know the deela-
!tatha b, a considerable amount would be gainedme) to the re- eatiou of those gentlemen on the subject of their having been
'tdti, .Y a reduction. If there were a stamp that required parties to any propositions for altering the size of Newspapers;
0i 3,at'un more than any other, it was undoubtedly the stamp and he therefore took the earliest opportunityl of communicat-
out -aPioe insurances. That tax was not only had in itself,
iting to hint the contents of. the !tters le had received.--
14111 .was the cause of driving the profit and advantage ( hear.) But before he quitted this subject, he must be per-
tesiiarlee to from the shores of England, and of trans- mitted to make a few observations on the personalities in which
4„_ sitlnes it to the maritime countsies of the Continent. It had the Right Hon. Gentleman indulged the other night with re-
`"titr au injurious effect upon the general commerce of the sped 4 him (Mr. Goulburn).. The Right Hon. Gentleman
N. Y. The im olie and injustice of this tax had, how-
\\, , bee P Y. taxed him, with considerable warmth, for having presented a
of limiting the size. of Newspapers, in
ore,_ 0 so well pointed out by the Hon. N.lembar for petition on. the subjeet
to tea ',ter, that he (Mr. Hume) should not think it necessary utter oblivion of his own recorded sentiments upon the sub-
liot 3' xtiore upon the . a that wasion. The Right • Right
_Hon.
.Gentleman quoted a paragraph
%. szeirabi_
_ subjecto.
_ftereernt •
aand the.
%vettled ,`e Gentleman the Chancellor
.of the
,Exche9uer 'Bill which had been in the litamp-office, and which
Pee 1 .`o look with dreadful apprehension at tgss spirit of
Is u atton
~ .was left by him (A r. Goulburn) in the Treasury ; in which,
) tiale , %smell no, d the country. He Mr. 4 idoubtedly, there
.did stand a clause for reducing the size of
I°aß Iccnfeased that .l.e had no fears u certain limits. At the time that the
thb 44 the II pon that score. As liesazapers to within
h Prince Bunk of En6land continued :0 be conducted on
Righta,n isese-a..... ----nr having intended to adopt such
'Hot na-tleman read that paragraph, lie (Mr. Gout-
se " a l'ks upon which It was now goveaws) there need burn) was so little awnr,e t ~(,.(a, ~„ , ,
_. 1
-ILl''' -1)Issel ' - . • Had tliat es- a limitation, that the first impulse
,01 tt!, parncr was to give a di-
lasnetisha,ent
linenelsion of a crisis or of aampaenpicrinciples
in
1826,
Uhl e wood
o e. lie nave been no crisis, perhaps no panic, at that rept and positive contradiction to the StacleinOt. ta'si suppo-
t't the Was quite satisfied that the Waal-oggsianttdt44t4l'ie
allowed for
I (Mr. Goulburn's) own memory
s;',luPtkilLi
igfrliet
_4l4lotei;?..oGl
iesnt, Gentleman
zliiiii,,ectth, ()rang ily in v esti-
‘tliti.,‘ Isertise°wiln try la system through-g
must have totally fail (1 WTI ula'sis 4til
e.._ e
he it -
as in a sound and healthy.*4442, I;nd as long
sreo ,ess,e a';edule
140 could th
compelled to pay their notes in gold t).4 471 a n,d, the
.moment to pass by. But when her dl r ,t el t
same IF cno •just ground fora pprehenston or alarm. tat of duties placed
me he should be sorry to see the people generally foiiiift tiiii:4 w fig from a limitation of the size of Newspapers,
by him on the table of the House in 1830, he

he adopted in that schedule the provisions of the Act of Par-
liament introduced by Mr. Huskisson, making no limitation
whatever, but giving relief to those who published separate
Papers as supplements, and giving further relief to those whose
papers consisted entirely of advertisements. The schedule
thus laid upon the table contained that record of opinion on
the subject by which he (Mr. Goulburn) was hound to stand.
The Bill from which the Right Hon. Gentleman had quoted
was not in fact, before the House—it was in draft; and he
( Mr. Goulburn) certainly did not expect—indeed, he did not
think it either right or courteous that a public officer, filling
the same situation which he (Mr. Goulburn )had once the ho-
nour to hold, should avail himself of such means to lead the
House to suppose that his opinions were different at one mo-
ment to what they were at another.—( Hear, hear.)
The CHANCELLOR of the EXCHEQUER--The Bill
was in print.
Mr. GO UL BURN knew that. It was printed, but printed
how ? Not by order of the House ; but printed in draft.
When it was brought him in manuscript, it was so Ions; and so
painful to read that he begged to have it printed draftwise, and
in that state it was that it must have fallen into the hands of
the Right Hon. Gentleman. The Bill was never brought
forward, and he begged to state now, once for all, that there
were propositions in it, as it was originally drawn and submit-
ted to him, in which he could not concur.—( Hear.) If the
Right Hon. Gentleman meant to make the quotation from the
Bill a charge against him, it was really one of a more serious
nature than he seemed to think. The Right Hon. Gentleman
charged him with an intention of imposing a duty on News-
papers according to their size. If that were really his inten-
tion, how fraudulently must lie have dealt with the House, hav-
ing presented to the House a schedule upon the subject, and
in that schedule having said nothing whatever about the in-
tended restriction.—( Hear.) But he would not dwell longer
upon the subject. He thought, however, that the House would
agree with him, that whatever argument the Right Honour-
able Gentleman had derived from reference to a Bill printed in
draft was worth nothing.—( Hear, hear.) At all events, he
(Mr. Goulburn) appealed from the Bill to the schedule which
he had laid upon the table of the House. The opinion ex-
pressed in the schedule upon the subject he should be pre-
pared, whets the proper time arrived, to maintain, and to shew
that the mode in which the Right Honourable Gentleman
proposed to deviate from what took place in 1830 with respect
to Newspapers, was not advisable for the Press, nor desirable
for the country.—(Hear, hear.) The Right Honourable
Gentleman concluded by again directing the attention of the
House to the necessity of providing for a reduction of the
national debt, before it sought for the application of any
great amount of surplus to the reduction of taxation.
Mr. ROBINSON concurred generally in the views taken
by the Chancellor of the Exchequer, and was happy to find
that, notwithstanding the reduction of 8,000,0001. of taxation
within the last few years, there would still, but for the amount
of interest payable on the money voted for the emancipation
of the negroes, have been a clear surplus for the present year,
of not less than 1,000,0001. The Right Honourable Gen-
tleman had, in the course of his observations on the
excellent working of the principle of free trade, alluded
to the importation of French wines ; but it did not appear
to him (Mr. Robinson) that a greater failure, as a finan-
cial measure, than that of the equalization of the duties
on French wines, either in the way of producing an in-
creased consumption, or of inducing a disposition on the part
of the French Government to adopt reciprocal measures, had '
ever taken place. As a commercial man he thanked the
Right Hon. Gentleman for the very salutary remarks he had
made as to the necessity of caution on the part of those en-
gaged in trade. He did not take any desponding views of
the present state of the country ; nor did he anticipate any
reaction ; at the same it was the duty of a financial
Minister to remind the country that by possibility some
check might be given to the present prosperity, which arose
in part, he was afraid, from over-speculation. The Right
Hon. Gentleman estimated that the stamp duties would
produce next year 7,000,0001., whereas this year they only
produced 6,900,000/. ; and yet he proposed a reduction
in that duty of upwards of 200,000/. How could the
Right Hon. Gentleman entertain this expectation unless he
anticipated to make the difference by his arrangements
in the new Stamp Act ? There was hardly one clause in that
Bill which did not call for the serious consideration of the
House before they consented to it. The Right Hon.
Gentleman had said that whenever a tax became unproduc-
tive, it was in itself an evidence of the impolicy of the tax.
Now he (Mr. Robinson) stated yesterday that although the
trade and commerce of the country had gone on increasing,
yet the produce of the stamp duty on marine insurances had
decreased. He therefore hoped that the Hon. Gentleman
would take the subject into his consideration, and propose
some reduction of that tax. After all, it appeared that the
only reduction of taxes proposed, were those on newspapers,
on glass, and on paper. He certainly would never ask for a
reduction of taxes below the amount of available surplus re-
venue, and as other opportunities would be afforded, he would
not now do more than generally express his satisfaction with
the statement made by the Right Hon. Gentleman, and a hone
that the resources of the country would go on so improving:as
to admit of a further reduction of taxation, by which its in-
dustry and commerce might be promoted.
Sir ROBERT PEEL intended to follow the example so
wisely set by the Gentlemen who had spoken in the course of
this slight discussion, because he thought it exceedingly wise
to interpose some interval between hearing the financial state-
ment of a Minister of the Crown, from which they ascertained
the amount of surplus revenue that could be fairly applied in
the reduction of taxation, and of pronouncing any conclusive
opinion in debate, as to the taxes which ought -to be selected
for reduction. Assuming that there were 500,000/. or
600,000/., which might be fairly applied in the remission
of taxes, he should like to have an opportunity of referring
to the very valuable information collected by the Commis-
sioners of inquiry into the state of the Excise Laws,
for the purpose of forming a comparative view of the
whole subject oftaxation, and of ascertaining by what mode
they might avail themselves of the small amount of surplus in
the most effectual manner, for the purpose of decreasing the
burdens of the people, and of increasing the productive industry
of the country. The glass duty, the paper duty, the soap
duty, and one other duty which had not been adverted to by
the Right Hon. Gentleman, but which he (Sir Robert Peal)
should be glad to have the opportunity of fully considering__
namely, the duty levied upon the importation of raw cotton--
( Hear, hear)—all these various points he should now avoid
pronouncing any opinion upon ; but having made up his mind
as to the surplus available, he should at a future opportunity
give his opinion as to what were the taxes most prudent to
reduce. He felt the force of the observation made by his Right
Hon. Friend (Mr. Goulburn) that in time of peace we were
not making any rapid progress in the reduction of the Na-
tional Debt ; while we were increasing our unfunded debt,
which, in a time of difficulty, might press with peculiar severity
upon the country. These were considerations which ought
never to escape the attention of that House ; and before the
House dealt too liberally with respect to a surplus revenue, lie
hoped that those subjects would engage their serious atten-
tion. But with regard to the duty on the importation of
raw cotton, he would just state, that in the year end-
ing sth of April, 1835, the duty collected upon that
article, which undoubtedly was one of the main sources of
the prosperity of the country, amounted to 374,000/. ; and in
the year ending the sth April, 1836, the amount levied
was 400,000/. ; being, he believed, only one-sixteenth
of a penny in the pound. But it behoved the !Louse
to bear in mind, that the manufactures of this country
were exposed; and, so long as peace continued, they
would be exposed to foreign competition. He, therefore,
would say, that to levy such a duty as 400,000/. upon a raw
material which formed the staple of our chief manufac-
tures, while, on the one hand, no advantage could be gained
from so small a revenue, on the other, we should be must
dearly punished, if, by retaining it, we should lay the
foundation for an increasing and successful competition
by foreign countries, was unwise.—(Loud cries of .‘ Hear,
hear, hear I".) With his views as to the necessity of
maintaining public credit inviolate, and as to the impolicy of
making no provision whatever for the interruption of that pro-
sperity the country was now enjoying, and, deprecating, as he
did, the approach to that state of things by which they might
incumber themselves with a new debt, he could not certainly
press for a remission of a tax to so large an amount as the total
reduction of the tax upon raw cotton ; but he should rejoice
to see its amount reduced as low as possible, so as not to war-
rant
unnecessarily any competition in that important branch;
of trade. He also wished to reserve to himself an opportu-'
nity of considering whether, in dealing with so small an amount
of surplus revenue, it might not be better to remit the duty
altogether on one article, than to make a remission of a por-
tion of the duty on two or more articles ; whether, for in-
stance, the total absence of all Excise regulations with respect
to glass might not be made the foundation of a very extcnsiye
manufacture in this country, and a very prosperous source of
wealth, by our becoming manufacturers of an article which
was now chiefly carried on by other countries. There was one
point to which lie thought his Right Hon. Friend (Mr. Goul-
burn) had intended to call the attention of the House, which
was—the policy of increasing the exportation of beer (as we
understood the Right Hon. Baronet to say). There did seem
to be a prospect of a very great increase in that branch of our
export trade; and whether they might not further increase it,
by some regulation with respect to allowing a drawback, was
worthy of consideration. He differed from the Hon. Gentle-
man the Member for Middlesex, as to the impolicy of the
observation made by the Chancellor of the Exchequer in
that tone of caution and warning which he assumed when
speaking of the present state of prosperity in the country. It
was infinitely more becoming the station of a finance Mi-
nister to adopt the language and tone of caution, than the
tone and language of unbounded confidence.—( Hear, hear.)
At the same time, he (Sir Robert Peel) saw great cause for
congratulation in the present state of the manufacturing in-
dustry of the country.—( Hear, hear.) He did believe that a
great part of our present prosperity stood upon stable founda-
tions, while peace continued wish foreign countries; and par-
ticularly if there were any hope of the South American, pro-
vinces being restored to a state of quiet of tranquillity, he
could not but think that, with the elastic spirit of industry
and enterprise in this country, there was a reasonable prospect
of the continuance of a great part of our present prosperity.
But, at the same time, he certainly thought there were indica-
tions which would lead prudent men to doubt whether the whole
of that prosperity was sound, or whether the activity which was
now everywhere displayed was necessarily connected with a safe
and permanent state of things.—( Hear.) It was impassible
to see the rapid and universal rise in the price of every article
of consumption, without asking the question—to what was
that to be attributed ? It was impossible to take up some of
the newspaners—he particularly referred to some Liverpool
papers—sys :104 wistitesing a rasp fsor lin:mission of joint
stock beinipani6, ]',here inatters
exceeding in absu'rdity'iluiSa dr the Ant 'stock 'cOdmanies of
the year 1825. lle''saw'pospecttises pat foiati in.a'Vverpool
papq *Fsbie.'h cs!rnpletely a,stO,iii'shed him, proceed-
ing as they did pipe epp4iit the' pititiArci4i