The Sun.
London, England, 1848-07-08 00:00:00

sugar, it was not, therefore, likely that any measure
such as the present would set the question at rest. He
did not conceive it necessary to go at any length into
what was said by the Right Hon. Gentleman the Chan-
cellor of the Exchequer as to the permanency of the
duty proposed for six years by his Hon. Friend. He con-
ceived that duty would be far preferable to that graduated
scale proposed by the Government, as it would give par-
ties an inducement to invest their capital in West Indian
property, certain as they must be that such investment
would be safe. In regard to the financial portion of the
question, it would be most disastrous to the country. The
Right Hon. Gentleman the Chancellor of the Exchequer
had himself admitted that, under the scale of duties pro-
posed, there would be a lost to the revenue during the
first year these duties ,came into operation, of no less
than 24,0001., while in the third year of their operation,
there would he a loss to the revenue of 70,0001. It was
said that the reason for this reduction was ior the pur-
pose of benefiting the consumer, but he did not think
that a reduction of the extent specified in the resolu-
tions, while it imposed such a great loss to the amount
of the revenue, would be of the least benefit to the pro-
ducer or to the consumer of sugar. Besides, he thought
that nothing was more dangerous, so far as the revenue
was concerned, than to introduce any measure which
should affect it at a remote period.—(Hear, hear.) No
one could tell what would be the circumstances of those
colonies a few years hence, and therefore, instead of a
measure such as the Government had proposed he would
rather accede to the permanent one as contained
in the amendment of his Hon. Friend (Mr. Bark 1)).
But whatever might be the increased consumption, the
Chancellor of the Exchequer had no right to take credit
for it again, seeing that the Noble Lord (J. Russell)
had already included it in his estimate of the general
increase under the head of Customs, when he made his
financial statement, and calculated that the revenue
from the Customs would be nineteen millions and
three-quarters.—(Hear, hear.) He must, however,
doubt whether these anticipations of increased consump-
tion were well founded. They had yesterday had laid
upon the table of the House the accounts containing the
tables showing the consumption for the first five months
of the year, and comparing those accounts with the
tables for the first five months of 1847, he found there
was a great falling off in the article of sugar. The con-
sumption in the first five months of 1847 was 2,473,000
cwt., while, in 1848, it was reduced to 2,455,000 cwt.
The last of these five months was the one which most
unequivocally proved this real falling off in the con-
sumption, because the duties were more equalised. Com-
paring it with the corresponding month of 1847 the de-
crease amounted to 60,000 cwt. The Right Honourable
Gentleman had taken the year 1846 as the basis of his
calculation; but he must protest against his doing so.
1846 was a year of unusual energy and enterprise, and
expansion of trade. Could any one, looking at the actual
state of things in 1848, expect equal results? He felt it
the more necessary to advert to this topic, because the
Right Hon. Gentleman had taken the opportunity of
making a new financial statement, of sending forth a
word which had been music in the ears of the merchants
of this country. He told them that the deficiency in the
revenue this year would be only half a million, instead
of two millions, as had been anticipated. He must,
however, protest against the system of voting away
large sums on mere vague assurances like these, and un-
til it was clearly shown in what way the deficit was to
be supplied.—(Hear, hear.) The Right Hon. Gentle-
man spoke of a revival of trade as certain. He
.confessed
he saw no indications of it, although he adulated that
the Right Hon. Gentleman possessed better sources of
information than he did. With respect to the estimated
improvement of the revenue, he was prepared to give the
Chancellor of the Exchequer credit for the accounts set
down for reductions in the Navy and Ordnance, and to
the extent of a million of that estimated improvement,
but as to 500,000/. of that estimate, he said it was a prac-
tical fallacy to send forth a statement which included
tiler, sum as increased revenue. It was, in fact, merely
taking an amount which would have gone to the dimi-
nution of the estimates next year to add to the income
of this year. He would therefore deduct that half mil-
lion from the et timate of the Right Honourable Baronet.
Then there was 300,0001., which it was admitted
the Ministerial measure would cost the revenue next
year, and in addition that most anomalous item—which
he hoped soon to miss from the estimates—" Navy Ex-
cess," must be taken into account. That was 300,0001.
more. These three items, added to the admitted defici-
ency of halt a million, according to the new statement of
the Chancellor of the Exchequer, made a total deficiency
for the year of not less than 1,600,600/.—(llear.) But
a single deficit was a matter of small consequence com-
pared with its probable result. There was a tendency in
one deficit to lead to another, and he had also observed
that there was a reluctance on the part of the House to
provide means for meeting each deficit as it arose. Last
year, in the midst of peace, they had been compelled
to have recourse to a loan. This year, instead of
making any arrangements to pay off, or otherwise
provide for that loan, they had another large defici-
ency, and so far as he could see from the indications in
the commercial world, a similar deficiency might be
expected next year.—(Hear, hear.) lle would give the
House of Commons the credit of saying that he believed
that when it refused to grant the increase of the income•
tax, it was not because it was unwilling to make pro-
vision for the expenditure of the country, but, as had
been truly, though delicately said by the Right Hon-
Gentleman the Member for Portsmouth (Mr. Baring),
because the House had not confidence in the estimates
of the Government, and in their financial policy.—(Hears)
Last year was an extraordinary year, and had, no doubt,
demanded extraordinary efforts; but that was an addi-
tional reason for their drawing a broad line between an
extraordinary and an ordinary year. They ought in
such a year as this, which might financially be
called an ordinary year, to take care to equalise
the income and the expenditure. Unless this was
done, he feared that the deficit of this year would be fol-
lowed by another next year. There was no reason, in
his opinion, for expecting that the trade and commerce
of the country would materially improve. Taking the
exports of British manufactures fur the years 1846, 1847,
and 1848, he found a decided falling off in the latter
year. Tht re were no signs of revival in the first five
months of this year, and at all events we should be pre
pared to look the question fairly in the face.—(Hear,
hear.) They were bound to do this, especially when
they saw that next year the Chancellor of the Exche-
quer would probably have to state that there was a still
further decline, and a still further deficiency, to be met
in 1849. If they did not meet the exigency of the case
at once the Right Hon. Gentleman would have a plaus
sible ground for calling upon the House to tolerate
another deficiency. He felt strongly that neither the
Government nor the House were doing their duty to the
country if they did not come to an immediate determi-
nation to take measures for equalising the income and
expenditure.—(Hear, hear.) lie must protest in the
strongest manner against voting away large sums
of money In the manner which this plan
confessedly did in the first year. He consi-
dered it a most dangerous and dishonest policy, and the
House ought not to be called upon to vote that money
until the Government came forward and told them that
they were prepared to submit to the House a plan, and
to enforce that plan with all the power at their disposal,
for reducing the expenditure of the country, and thus
bringing our outlay within its income,—(Hear, hear.)
With regard to the motion of his Hon. Friend (Mr.
Barkly), he supported it on the broad ground, that it was
much better to make a reduction of 4s. at once, than to
spread it over four years. It would be more immediately
felt, and tend to give a stimulus to consumption, than the
contrary plan, which he considered opposed to the policy
of the soundest financiers. He protested against the plan
of the Government, not because he thought the increase
of consumption which it anteepattd was impossible, but
because if it did come, it had already been taken credit
for by the Noble Lord, and could not therefore be
counted twice. He proposed also, in the name of the
colonies, who had a right to a larger measure of relief
than that proposed by the Government, which ought to
go further than it had done, and he should feel it to be
his duty, in all ulterior stages of the measure, to make
every effort to secure justice to the colonists.—(Hear.)
Mr. LABOUCHERE said he did not complain that
the Right Hon. Gentleman should have directed the
attention of the House to the financial position of the
Government. It was natural that he should have done
so, after the recent statement of his Right Honourable
Friend the Chancellor of the Exchequer, and also re-
membering the great attention which the Right lion.
Gentleman had paid to that subject. But what he did
complain of was the manner in which the Right Hun.
Gentleman had spoken of the measure of the Ministry,
by characterising it as dishonest.
Mr. GLADSTONE—AIIow me to withdraw that
word. It was merely used in the heat of debate, and
without any intention of imputing personal dishonesty.
What I meant was, that it was a dangerous and delusive
policy to be anticipating the revenue of future years to
meet the expenditure of this.
Mr. LABOUCHERE was sure that the word was not
used in a personally offensive sense ; but he must ex-
press his surprise that the Right Honourable Gentle-
man should speak thus of this measure, having been one
of a Government that introduced a measure on the tim-
ber duties of precisely the same nature. He thought the
Right Honourable Gentleman must have a very short
memory indeed to forget that face—(Heer, hear.)
There was another statement that he had heard with
great surprise, namely, that this was an ordinary year.
Why, it' this had nut been a most extraordinary year,
we should by this time have been in the very spring-
tide of prosperity.—(licar, hear.) With reference to
the gloomy views of the Right Honourable Gentleman
as to the prospects of trade and commerce, he could not
concur in them. While the European trade had been
almost entirely closed, the trade dependent on our
own internal demands had striven with a vigour
which was perhaps never surpassed, and which proved
conclusively that our resources were undimished,
and only waited for more favourable opportunities
of exhibiting their full force. The Right Hon. Gentle-
man had referred to the returns just laid on the table as
to the consumption of the first five months of the year,
and had shown a falling off in one article, sugar. But if
the Right Hon. Gentleman had taken other articles,
which quite as conclusively tested the consuming powers
of the country as sugar, he would have found an increase
instead of a decrease. For instance, tea. In the month
of June, 1847, the importation of tea was 339,000 pounds.
In June, 1848, it was 419,000 pounds. In the coffee
trade there had been a slight falling off; but, looking at
the whole of the tables, they showed in a most satisfac-
tory manner that this country had maintained its ground
in the midst of a crisis which had ruined other countries.
—(Hear.) lie would not on that occasion interrupt the
debate on the sugar duties, and which he hoped was
now drawing tea close, by following the Right Hon.
Gentleman in his financial criticism. Other opportuni-
ties would occur for discussing that question. IVith re-
gard to the amendment of the Hon. Member for Leo-
minster, be must say that he preferred the measure of
the Government to that amendment. The plait of the
Government reconciled the interests of two great parties
in this matter—the West India planters and the con-

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