The Sun.
London, England, 1831-03-01 00:00:00

was equal to a lute of Ito less than 300,000/. inflicted upon
the holders of these goods. Unless such au extension of
the time as he proposed were made a part of the Noble
Lord's measure, the reduction of the ad valorem duty
would be ruinous to the manufacturers and the retail
venders of printed calicoes who had a stock on hand. To
his own knowledge 22 of the former class, resident in the
interior parts of England, would lose no less than 38,0001.
by the reduction, if not allowed more time to get rid of
their present large amount of stock ; and as to the re-
tailer of those calicoes, one fact would show how little
they were able to hear the additional losses which the re-
duction would entail upon them. The fact he alluded to
was this—that not less than 178 out of 300 of the Louse-
holders of the most leading shop-street in the metropolis
were, in the last five years, defaulters in the payment of
the assessed tares.—(Hear.)
Mr. CAMPBELL was enabled to say on the part of
the calico-printers of Gla,gove, that if sufficient time
were allowed for the drawback duty on the stock on hand,
the Noble Lord's measure would be beneficial to the trade:
but it sufficient time were not thus allowed, serious injury
to many in the trade would be the consequence.
Mr. PATTEN hoped that the Noble Lord would eorne
to some definite final arrangement with respect to the
duty, as, at present, the trade was at a stand-still, and
would be so till Ministers had decided one way or another.
Lord STANLEY ss as glad that he was enahled—hav-
Mg attended several deputations of the Manchester cotton
manufacturers which waited on the Noble Chancellor of
the Exchequer—to say that, as a whole, the Noble Lord's
measure was satisfactory to himself and his constituents.
He trusted, however, that 5-Sths of Id. duty on raw cot-
ton would be only a temporary tax, to be wholly dispensed
with when the revenue was snore flourishing.
Sir R. PEEL should have much preferred a duty on
the printed calicoes to the Noble Lord's tax on the raw
material, even though the tax were to be but a temporary
one, because the encouragement just sow bestowed on
France and America in the manufacture of cotton should
make us very wary as to the imposition of any new impe-
diments in the way of our own domestic manufactures of
that article. This was not, howevee, the point to which
he then wished to particu'arly direct the astention of the
House with reference to the Noble Lord's proposed reduc-
tion end substitution of duty. The Noble Lord had not
informed them how he meant to make good the deficiency
which would accrue to the revenue from his change front
an ad valorem duty of 6 per cent. in the manufactured
article to 5-Stns of a id. on the raw cotton. That loss
would be, as I:e should presently show, not less than
20,0001. ; and when this sum was added to the de-
falcation which would ensue from the repeal of the duties
on coals and candles, there would remain a total loss to
the revenue of 1.200,0001., which he knew not how the
Noble Lord could compensate.—(Hear.) Then let them
consider how his proposed drawback duty would also affect
the revenue. That drawback was to be in force three
months,—that is to say, that though the 5-Sths of Id.
duty on raw cotton was nominally to commence from the
present day, the revenue would he at a certain loss for three
months, without any counterbalancing advantage. Now
that the amount of this loss would be very considerable
was evident from the sum paid as drawback allowance last
year. The ad valorem duty last year amounted to
1,942,000/. ; the drawback allowance on exports to
1,390,0001.: leaving a clear net revenue of 552,000/.
Supposing, then, that exports of printed calicoes for the
ensuing three months, during which the drawback allow-
ance was to be in force, would be only 1-4th of the amount
of last year, it was plain they would be much more, inas-
much as the drawback for a limited period must operate as
a stimulus to the exports during that period—(Hear)—
there would be an actual loss to the revenue this year of
347,500/.—(llear, bear.) Again, he must say he knew
not how the Noble Lord proposed to make good the defi-
ciency from the revenue which his measure would occasion.

The CHANCELLOR of the EXCHEQUER begged
leave to say, in answer to the Hon. Alderman (Waithrnan)
opposite. that he did cot extend the drawback allowance
period beyond three months, because on inquiry he learned
that that time would be sufficient for disposing of the stock
of printed calicoes now on hand. With respect to the °b-
eet rations of the Right Hon. Baronet who had just ad-
dressed the House, all he had to say was, that he was nut
unaware that his drawback allowance would occasion a
certain temporary loss to the revenue; but, besides that
the loss would be but temporary, he was sure it would be
much less than the Right Hon. Baronet estimated. To
extend the period of the allowance would be, pro tanto,
eltuyalent to a repeal of the tax altogether—a repeal which
the revenue could not at present admit of. He therefore
felt himself hound to have it in force but for a short defi-
nite period, hoping that though at the outset the revenue
would be a loser, it would ultimately be considerably a
gainer from the increased consumption of manufactured
cottons. But, asked the Right Hon. Baronet, how are we
to make good the loss this year to the revenue from the
change? In answer, he must remind the Right Hon.
Baronet, that when he submitted his financial statements
some ten or twelve days ago to the House, he laid down
the probable loss to the revenue from his reductions at the
highest possible rate—that is, he estimated them from the
consumption of last year, without at all taking credit fur
the increased consumption, and thence increased revenue,
consequent upon a reduced duty on the articles be proposed
for reduction. Now, if the probable amount of in.
creased consumption of printed calicoes, consequent upon
a reduced duty, were taken into account, it would be
seen that the Right Hon. Baronet had much overrated
the loss which the revenue would experience, even this
year, from his proposed measure, while the revenue must
in the face of the matter be a gainer henceforward.
Then it must also he recollected, that when stating the
losses to the revenue which his relief to the general con-
sumer of the articles the duty on which he proposed to
reduce would occasion, he took credit for a new revenue
of 1,200,0001. from a one half per cent. transfer tax ;
and that having abanioned that, he felt himself necessi-
tated to relinquish his intended reduction of duty on to-
bacco and glass, from which reduction there would have
ensued a loss to the revenue of 1,400,0001., that is,
200,000/. more than his transfer duty would have furnished
him. Then with respect to the cotton duty now under
consideration, he maintained that the rated duty on the
raw article would be much more productive to the revenue
than the ad valorem duty to which he substituted it, be-
sides that the cost of collection would be saved ; and he
therefore was warranted to take credit for this increase,
the rather, as he was confident that the Right Hon. Baro-
net's estimate of loss from the three months' drawback al-
lowance would be found in the sequel to he much too high.
He was aware, however, that he ran a slight hazard from
his proposed reduction, but he trusted that if the House
would go with him the whole length of his plan, it would
be found that while the revenue would be gainer ultimately,
the general comfort and prosperity of all classes would be
essentially promoted.—(Hear.)
Mr. dOULBURN could mot see what advantage could
accrue from a rated duty which the present ad valorem
one did not possess. It could not be one of certainty, for
nothing was easier to estimate than the ad valorem amount
on the 214,000,00016. of cotton which this country an-
nually imported, exclusive of the produce of our East
India colonies.
Alderman THOMPSON regretted very much that the
Noble Lord had not allowed a drawbick allowance on the
exports of the manufactured cottons on hand, with an
option to the holder of a half duty should he retain his
stock for home consumption. He had no objection to offer
to the principle of the 5-Sths of a penny duty on the raw
article.

Mr. P. THOMSON begged leave to remind the Right
lien. Baronet (Sir R. Peel) opposite, that when he talked
of the necessity of our guarding against the consequences
to our domestic cotton manufactures which the anxiety of
the French to encourage such a manufacture would point
out, that there was a tax of lid. on all raw cotton enter-
ing Franc:, which, when we took into account oursupe-
riority in machinery, fuel, &c., would be found much more
than proportionate to his Noble Friend's 5-Bths of Id.
duty. Tiat, as to the assertion of the Right Hon. Mem-
ber for Armagh (Mr. Goulburn) that the ad valorem
duty must be as productive as the proposed rated duty, it
was sufficient to say, that the ad valorem duty was but i
six per cent., that s, 3-Stlis of Id. per lb., while the rated
duty would be 5-Bths of Id. on the same amount of im-
ports—not to say any thing of the 30,000/. a-year that
would be saved by the collection of the latter form of duty.
Mr. WHITMORE was happy to hear the Chancellor
of the Exchequer say that this task was one which ought
to be retraced, whenever the improvement of the revenue
would permit.
The House then went into a Committee,.
The CHANCELLOR of the EXCHEQUER proposed
a resolution that the duties of excise now payable on
pi lilted calicoes, &c., and the drawbick on the exportation
thereof, cease and determine. It was . not usual to
state the time when they would determine in the present
stage of the measure. It was usually fixed in the Bill.
Mr. HUME rejoiced in the course now taken on the
subject by the Noble Lord opposite. He was sure that the
duty on raw cotton would be only temporary. He thought
that the manner in which the stock in hand was to be
treated was very severe. He concurred, however, on the
whole, in approbation of the measure then in progress.
Mr. BERNAL said, that in his opinion the Chancellor
of the Exchequer would not have surrendered one iota of
the an:llium of ha character, if he had yielded to the