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

tins and the Cape for Compensation been satisfied—tly,t a con-
siderable sum is yet unpaid. I wish to state that there is a
difference between the 15 millions, the nominal amount and
the actual amount of 20,000,000/.2 besides a certain propor-
tion of interest on claims not as yet admitted. The actual
amount to he met—supposing the loan of the Mauritius and
the Cape to be completed, supposing that all demands were
liquidated, including the interest on claims outstanding, as
.cell as on those which have not as yet been put in at all—
supposing,
in fact, that the whole interest were cleared up and
paid off, the utmost amount of interest which it is possible to
be sought for is 1,454,6041. Sir, on the best consideratio❑
which I can give the subject, the actual payment which will be
demanded, on the score of interest, I calculate to be 1,111,8631.;
and I propose out of that surplus, which I hate already stated
to amount to a sum of 1.774,1931., to make provision for this
sum of 1,111,8631., which I suppose to be the highest sum
that will he demanded. Then I regret to say that the sole
amount of surplus over which Parliament can by possibility
exercise any dominion amounts to a sum not exceeding
662,3301. Gentlemen who think that we can apply a large
surplus to the reduction of taxation, will do well to bear in
mind that unless there be some cross inaccuracy in the state-
ment which I have made, we shall not have a larger dispos-
able surplus to deal with than 60,330/. Having stated what
the real surplus we can justly expect is, I shall proceed, with
the permission of the House, to refer to the various branches
of the income of the countr7. in order to show that the calcu-
lations which I have made with respect to them are correct, I
shall take, first, Customs to produce the same amount as last
year. On the articles to which I wish to refer the comparison
is as follows :

Actual Year's Years 1836, 1837.
Consumption. Estimate.
23,623,000 23,251,000

Estimate.
Coffee 23,143,000

Sugar 3,726,000 3,745,000 3,745,000
Tea 36,000,000 37,099,000 38,000,000
In the article of tea there has been a considerable increase of
consumption, and I think we may be justified in expecting a
still greater consumption; but it must be recollected that
there is at the same time a positive remission of taxation ; and
whatever inducement a Minister may have to urge him to the
performance of the pleasing task of repealing taxes, 1 think
he would ill discharge his duty if he were to exaggerate the
amount of future revenue, to gratify his own inclinations, or
those of his friends, or of the country, by proposing the repeal
of a tax, that, upon a prudential and cautious view of the case,
he would shrink from attempting.—( Hear, hear.) In reference
to the Customs duties, I shall refer to the state of these duties
as indicative of the general state of the country ; and here,
Sir, not wishing in the slightest degree to raise any exagge-
rated hopes, but, from knowing the dangers of misplaced con-
fidence, being most desirous to communicate my impression of
the necessity which is imposed, even by the present state of
our prosperity, of acting with prudence and caution, much
rather than with exaggerated confidence or rash reliance—far
be it from my intention, in referring to the state of our com-
merce, as shown in the customs return, to depart from that de-
liberate, calm, and temperate consideration of the subject of
the future, which a Minister connected with finance ought to
adopt.---( Hear, hear.) Yes, Sir, it behoves the public, the
mercantile public, the producers and the traders of this coun-
try, to weigh well the nature of the transactions which have
engrossed the attention of the community, and I doubt not
but that they will discover in that prosperity for which we
ought to be grateful to Providence, indications which will
point out the necessity of acting with prudence, and not being
betrayed by present successes into speculations and schemes
without end or number—illusions and day-dreams by which
the inhabitants of every town and district are, I am sorry to
say, now too prone to be influenced.--(Hear, hear.) With
these few words of caution, and not departing from the ex-
pression of satisfaction which I feel justified in uttering with
respect to our past and present condition, I proceed at once
to show what are the proofs of the advance in the commerce of
the country, at which, as far as we are at present enabled to
judge, we have have every reason to be grafified.—(Hear,
hear.) I have got in my hand a table comparing the state of
the country in two periods of four years each ; the first from
the year 1828 to 18031, and the next from the year 1832 to the
close of the year 1835. Now I pray the attention of the
House to the results which this paper exhibits

Imports and Exports in the last Eight Years, at official Rates,
or a declared Value.