The Sun.
London, England, 1846-05-30 00:00:00

order that the House should resolve itself into a Com-
mittee of Ways and Means,

Mr. LAWSON rose to move for certain returns on the
subject of the price of potatoes at various periods, and
entered into a long explanation of the statements which
he had made with regard to the price of potatoes on a
former occasion.

Mr. Alderman HUMPHREY also entered into certain
explanations with regard to his statements on the sub-
ject of potatoes during the course of the corn-law debate
The House then resolved itself into a Committee of
Ways and Means, &c.
The CHANCELLOR of the EXCHEQUER rose to bring
forward the Budget, which be feared he should not be
able to make very interesting, as the various alterations
in our financial system, proposed by the Government,
had already received the sanction of the House, neither
would it be necessary to state the exact amount of the
expenditure as they were already before the House in the
estimates. He should only have to exhibit in one view
the receipt and expenditure, from which the House
would see the working of the financial policy of the
Government. The Right Hon. Gentleman then pro-
ceeded to make his statement. The revenue last year
was estimated at 49,762,000/. ; it had yielded 51,250,0001
The customs, which had been estimated at 19,500,0001.
had yielded 19,700,0004 The excise, estimated at
12,500,0001., had realised 13,300,0001 The stamps,
estimated at 7,000,000/, had yielded 7,660,0001. The
taxes, estimated at 4,200,000, had yielded the amount
estimated. The property-tax, estimated at 5,100,0001.,
had fallen a little short, in consequence of the repay-
ment made to persons from whom deductions had been
male. The post-office, which had been estimated at
700,0001., had yielded 790,000/ There had been re
ceived from China 750,000/.,—making a total revenue of
52,000,900. The expenditure, estimated at 30,790 0001.,
had amounted to 30,600,0001. There was a deduction to be
made for charges which occurred in certain years, and
the surplus revenue of the year amounted to 2,350,000 L
In the ensuing year he estimated the Custom's revenue
at 19,500,0001. He estimated it at this sum, because he
belie.ved that the commercial prosperity would continue
and increase, and, therefore, he should not make such a
deduction in the abolition of duties as he might be en-
titled to under other circumstances. He estimated the
Excise revenue, which had only fallen this year 100,0001.
in consequence of the reduction of duties last year, at
13,400,000/, He took for stamps 7,400,000/. only, be-
cause he thought that the increase this year was owing
to the increase of railway speculation. The assessed
taxes he estimated at the same amount as last year, and
the property-tax at 5,100,0001. He estimated the Post-
office revenue for the ensuing year, in consequence of
certain alterations about to be made, which would incur
some expense, at 850,0001., being 60,0001. above what it
had realised this year. With respect to Crown
lands, he expected to receive from them 120,000/.
and the miscellaneous at nearly the same amount:
The total amount of revenue he estimated at 50,950,0001.;
and he estimated that, including the China ransom, the
total receipt would be 51,650,000/. With regard to the
expenditure, certain additions had been necessary to the
military and naval forces of the country, which would
dip deeply into the surplus. The charge for the debt
was 28,100,0004, for the consolidated fund it was
5,200,000/., showing an increase in the last item in con-
sequence of the advances made to Ireland. The expen-
diture for the army he estimated at 6,690,0004, being an
increase of 140,000/. The expenditure of the navy
would be 7,521,000/., being an increase of between 500,0001.
and 600,000/. The estimate for the ordnance would
be 2,543,0001., being an increase of 400,0001.
The miscellaneous expenditure would amount to
3,435,0001., being somewhat more than the sum which
appeared in the estimates. The total expenditure for
services would be 20,198,0001., which with the charges
would make a total expenditure of 50,853,0001., which
being deducted from the anticipated revenue of
51,650,0001., would leave a surplus of 776,0004 He
attributed the present prosperous state of the finances to
the liberal commercial policy which had been adopted by
the Government since 1842, by means of which the then
deficiency in the revenue had been changed into a sur-
plus, so that on the Ist January, 1846, there was in the
exchequer 4,798,0001. more than there was in the
Ist January, 1842, while the debt was less by
7,000,000 L, and the deficiency bills were less by
4,133,0001. in 1846, than they were in 1842.
In 1842, the total charge upon the debt was 29,597,000/.;
in 1846, it was 28,129,0001., showing a relief to the
public on these charges of 1,500,000/, a year. These
were the results of the financial and commercial policy
of the country which had been pursued by the Govern-
ment, and they were sufficient to vindicate that policy.
It might be said that the Chinese ransom had contributed
to raise this surplus. Now, the sum received from
China was 3,360,000/. ; of this sum 2050,000/. bad been
devoted to the expenses of the Chinese war ; 1,270,0001.
had been paid as opium compensation; making, together,
3,320,0004 and showing that the gain to the revenue
for the Chinese compensation was 301. only.
Since 1842, taxes to the amount of 5,624,0004 had been
imposed, but in the same period taxes amounting
to 8,206,000/. had been removed, showing a
reduction in the burdens of the people of 2,562,660/.
He knew that he might be told that these results were
owing to a succession of good harvests, but could they show
him any previous period of four successive good harvests
in which any such results had followed ? And if they
could not, he had a right to assume that it was not to
their good harvests alone, but to the adoption of a
liberal commercial policy, that these results were to be
attributed. While the finances were more prosperous
than they had been in 18442, the comforts of the people
had increased, as was proved by the increase in the de-
posits of the savings-banks, the average of which,
during the four years preceding 1842 was 357,0001.
a-year, while during the last four years the average was
793,0001.; and by the increase in the amount of excise
duties ; and crime had diminished to the extent of
seven per cent. in the last period of four years as
compared with the four years preceding ; and the num-
ber of applications for assistance for schools had in-
creased in the proportion of 500 to 200; and the ardour
which was exhibited for building new churches indicated
a great improvement in the moral and religious habits
of the people. These things should encourage them to
go on in the course which they had begun, and cauti-
ously to remove those burdens which diminished the
comforts and crippled the energies of the people. The
Right Hon. Gentleman then formally moved the usual
resolution.

Mr. F. BARING considered that the CHANCELLOR of
the EXCHEQUER had understated his expenditure by
nearly half a million, having taken in some of his esti-
mates, the charge for three-quarters as the charge for
the year, instead of the charge for four-quarters
throwing over one quarter to next year, and thus
exhibiting an apparent, but not a real reduction.
He was equally hostile as he was at first to the income-
tax, but no one should ever induce him to believe that it
could be taken off at the end of three years. He be-
lieved that, throwing aside the money to be received
from China, instead of having a surplus, the Govern-
ment would have a deficiency of about 800,000/.
The CHANCELLOR of the EXCHEQUER explained.

m tar.
ofH uthmeEchnaldNchEeLazlß wofiththesaEtisfaction the state-
iiifevefterdritizit.mtcr many the suggestions xhceHEhgatrdEtßh,ro andwn outbe -
oo7u,lead be productive of great good
mien that pressed upon
ppy to see that the present
ov mu had would
toG the
er coneunttry. it
He believed
reefduthctiodn of
the poor, and placed it upon
e
that the revenue might be increased
the duties on tobacco and tea.' Tel reduyctiaon
uty
piynognutpeathweopurledv
penlactiveethseer
oonf
keeping
former, would put an endi to the enodrmhous expensee
ingoff'
relationsthe
vice
of this co.:ntr
ifeoot•
utaieinsuallsofirmheebrel
uf withth
eC h i
sugar China o
duties,
believed, would
0 uTldh The
be
reduction
attended
.
with great benefit. He wished to the income-tax..
continued, as it removed taxation from th
Placed it upon those who ought to beearrn.illions, and
those who were in possession of the propertynamely'
of the
country.
Lord GEORGE BENTINCH thought that the surplus of
776,0001. was rather a small sum to faoe the contin-
• of the country, considering the great changes
gencies
that were about to be made in the commercial policy of
the country. He contended that the only way to re-
duce tho assessed taxes was to continue the duty on
corn and timber. He protested against the financial
statements of the Chancellor of the Exchequer.
Mr. C. WOOD considered the statement of the Chan-
cellor of the Exchequer most unsatisfactory, inasmuch
as it did not put the House in possession of what the
real income and expenditure of the country would be.
A desultory discussion then ensued, in which Mr.
CARDWELL, Mr. WILLIAMS, Mr. HUDSON, and Mr.
JAMES took part, after which the resolutions were
agreed to.
The House then resumed, and the report was or-
dered to be received on Friday next.
The other orders of the day were then disposed of,
and the House adjourned.

After a generation or so has passed away, and when
the struggle of free trade has been fully consummated
in the perfect development of its operation, the people
will undoubtedly recur to the late discussions in Parlia-
ment with a more solemn and thoughtful interest than
that with which they are regarded at present. In the full
%Oh Of no glqiclus on itaigyanzit, it is indeed Wmoat