The Sun.
London, England, 1833-05-13 00:00:00

MARINE INSURANCES.

It has generally been understood that Lord Althorp, in
presenting his budget to the House of Commons, declared
that the reductions he proposed in the duties on marine in-
surances would be a relief to the shipping interests. The
present rates are as follow, viz.—if the premium do not
exceed 20s. per cent., the duty is 2s. 6d. per cent., and
50. per cent, if the premium exceeds 20s. Lord Althorp
proposes that where the premium shall not exceed 15s. the
duty shall be ls. 3d. ; if the premium be between 15s.
and 305., the duty to be 2s. 6d., and ss. if the premium
exceeds 30s. Now, p ships are generally insured either
by the voyage or by time, and the premium is very rarely
below 30s. per cent. upon a ship policy, it is clear that
the intended advantage to the shipowners will be very
slight indeed, and the allusion to it in the House of Com-
mons was looked upon as a bitter mockery of the unex-
ampled distress under which British shipowners labour.
Our attention has just been called to the printed votes
of the House of Commons, in which will be found the
following resolutions reported last night:--
" That the duty on ships, &e., insured by time, shall be,
s. a.
If not exceeding three months
From three to six months
From six to nine months 7 6 ditto.
From nine to twelve months

The present duty on time policies, for any period not ex-
ceeding twelve months, being five shillings per cent.
About one. half the ships belonging to the British empire
are insured by time policies, for terms varying from nine
to twelve months, and rarely for shorter periods ; so that
it is actually intended to double this tax upon the suffering
shipowners; at the same time they are told, and the public
generally are led to believe, that the alteration is a great
boon to them. Here we have an overburthned trade
mocked by erroneous measures of relief, showing the pal-
pable incapability and want of knowledge in the theorists
intru ted with the administration of the Government.

We recur again to the great and important question of
the marine insurances, in consequence of it having been
intimated to us that Lord Althorp was not the original
founder of the negative plan of relief to the British ship-
owners, propounded in his late budget, but that he adopted
it from one proposed by the Committee at Lloyd's some
two or three years since, and this, corning from such
a quarter, has been presumed to have induced Lord
Althorp to suppose that it was in unison with the general
wishes of the merchants and shipowners. We now learn
this was not the case ; and if the members of Lloyd's had
been consulted, a scale of duties would have been pro-
pounded (under their advice) which would at once have done
themselves credit, and the merchants and shipowners a very
great benefit. The members of Llayd's generally give
th. Noble Chancellor of the Exchequer credit Ur endea-
vouring to meet the wishes of the public; but good inten-
tions cannot nullify the want of practical knowledge or
neces.sary investigation. We ate aware that a plan has
been submitted to the Chancellor of the Exchequer by one
of the ablest members of Lloyd's, which it is considered will
give relief to the trade without diminishing the income
which the Noble Lord stated he must have the power of
calculating upon from this great commercial source. We
subjoin it, in order that the attention of the members of
that noble institution should be drawn to the question,
and induced to take the matter up, and call the attention
of our representatives to this important question. But we
must be free to admit that we are astonished to learn that
the proposal of a scale of duties like that to which we have
previously adverted should have emanated from the Com-
mittee of Lloyd's:—
" It is now proposed that upon insurances, when the
premium does not exceed 20s. per cent., the duty shall be
Is. 31. per cent.
" When the premium is above 20s. per cent. the duty
shall be 2s. 6d. per cent.

" Insurances done for time only, to pay ss. per cent."
This sc4le is considered to be founded in equity.
The present income from policy duties is estimated at £220,000
Of which the coasting duties and time risk duties pay
(which duties are still to remain the same) 30,003

190,000

The duties proposed to be reduced one-half, say from
2s. (id to Is. 3d., and ss, to 2s. fid. per cent., will take
off the sum 0f......
£93,000
Being 5,0001. less than the Chancellor of the Exchequer is
agreeable to give up. It tnust now be remarked that this
reduction of the policy duties will tend to increase the in-
surance business of this miritione country ; therefore it may
be fairly presumed that the actual loss to the revenue will
only amount to 50,0001., which is half of what Lord A.
calculates upon giving up. .
If this plan be adopted it will give this year £95,000
'En which add the coasting and time duties as usual

Which will leave to the revenue £123,000
Whilst the probable increase, in consequence of the reduced
duties, will amount to a large sum.—Morning Paper.

FACTORY COMMISSION.—We understand
that some of the occupis.rs of manufactories have hesitated
about answering the questions sent to them by virtue of
the Factory Commission, on account of the trouble attend-
ing the inquiries that are necessary in order to obtain satis-
factory information, and such as they can, if required,
verify upon oath. But this must be considered a very in-
sufficient reason for declining to furnish Parliament with
the information required. Such a refusal would be open
to the observation that the parties have something to con-
ceal, and that they are afraid of meeting the subject fairly.
We hope this is not the case in any instance ; but if it is,
it only shows more clearly the propriety of investigation,
and of legislation too, upon the subject...-Leeds Mercury.