The Sun.
London, England, 1825-03-01 00:00:00

'IIIE-LONDON JOURNALS.

Extructsfrom the Morning rupers,Marchl,lB2.s.

[MORNING POST.]
The Chancellor.of the Exchequer, last night,
made his grand Financial Statement for the year, I
and a more gratifying picture of national pro-
sperity, daily increasing and daily consolidated,
has not been displayed for centuries to the coun-
tryA.t the commencement of
or to the world.
the last Session he had assumed in the calculation
which he then made, that there would be at the
expiration of 1824 a surplus of 1,050,0001. That
anticipation liad not only been realized, but after:
applying
5 150 000/. .to the reduction of the
National Debt, the surplus now amounts to
1437,7441. or four hundred `thousand pounds
snore than the original estimate. The proximate
cause of this great increase, the Right Honourable
Gentleman jusly infcrmed us, " is to be found in
that extension of our commercial policy which
we last year adopted, in the greater consequent
'capacity of the people of this country for the con-
sumption of foreign produce, the general ease of
the conmmunity, and above all the increased
capacity of foreign nations to consume our pro-
duce, arising out of the means of doing so, which
we afford them by taking theirs." Neither is
this an accidental or temporary result. It is one
which depends upon a principle rooted in human
-nature; which forms the essence of Society, and
'may be assumed as thebasis upon which to calculate
the produce of the Revenue for years to come!"
_Having shown what the surplus was, the Right
lion. Gent. then stated how he intended to employ
it. The'relief which he proposed for the country
by the reduction of taxation would have three ob-
jects—" First, the extension of our commerce,
and the increasing of our facility to consume
foreign produce. Secondly, the. carrying further
the attempts which had already been made for
.the extinction of that monstrous evil, sm.uggling.
Thirdly, the relief desirable from the removal of
direct taxation, of WhiCh 'so much had been said
by some Hon. Members." These three objects,
he conceived, would be attained as follows :
lie proposed that the Duties on French Wines'
should be reduced from lls. 54d. per gallon, to
6s. per ditto, and those on Portugal Wines from
7s: 7d. per gallon, to 4s. The Duties on British
Spirits from 10s. 6d. per gallon to ss. from Malt,l
-and to 6s. from Grain ; that upon Rum from
10s. 6d. per gallon to
.89.; and that on Cyder
-from 30s. per hogshead to 15s. In addition to
this, he would reduce the Duties on Hemp and
Coffee one-half, and those on foreign Iron pro-
portionably, and would remit the whole of the duty
'on Windows in Houses which had not more than
seven, and the Inhabited House Duty on those
under 101. rent, with many other duties affect-
ing the welfare of the. lower classes and that
of agriculture. Indeed by this arrangement the
whole portion of the Assessed Taxes which has,
'hitherto been borne byithe poor maybe consi:,
tiered as abolished. ,This is •beginning at the
:tight end. To relieve
.'those who. are the least
-Ole_ to bear ,their buctimus.,, is, the act-of a :wise
'and humane legislator,--and will not only inspire
the other classes with hope,.hut
.with patience to
await the hour when similar .alleviations may. be
extendud to them, Next year, in all probabi-
lity, the Assessed Taxes, generally, will be
abolished.