The Sun.
London, England, 1851-05-03 00:00:00

ONDON, SATURDAY EVENING,

TILE SUN,

ftutr-Yheult the. Hon. Member for Cockermouth brought forward , the temper of the country would submit to a permanent her. DISRAELI-Sir, the question before the House
hblashbti.iigt
le\satison in le4B the numbers were two to one against income-tax-(Cheers) -but he did think that the objectsthat is,
' it more likely now? Was there any more pro- could be obtained through its agency were well worth the ,of three years or one year ? The amendment to the mo-
Y now that his Hen Friend would be able to get a endurance of its weishit for a further period-he would cite whether the property tax shall be continued for the space
concession from the owners. of real property in favour of the ' the case of coffee and timber, for instance. With respect to
tr_ading and professional classes? upon what ground could modifications in the tax, he had little hope of a satisfactory by a distinguished membertheMinister,
yoefartisi
atb continuance,o doi liho
nee.
Gentlemen
een made
alien a niil
"' expect it, when he remembered the narrow majority result, seeing that both' Mr. Pitt and Sir R. Peel had beet who support the Government ; but all the arguments of her
of 13
dens, for the purpose
question regarding the burdens on land, able to devise none, though no man was more keenly alive Majes,h's Ministers have been addressed, not to the amend-
trades, evidently intended to get rid of those bur- to e fiscal injustice than the latter. The income-tax meat, but to this side of the Houee.-(Hear, hear.) The
perry was esopdurpose of imposing them upon
to the industrious professions and would, therefore, have to be taken as it stood-but taken
Hon. Member for the West Riding says there lane common
posed of-a tra' sfer of taxes from real pro- for a short period-(Cheers). lie knew what that cheer
classes?-(" No, no," from the Op • meant-it meant one year.-(Hear, hear.) But they
Petition aidobject between the Member for Montrose and Gentlemen on
n_., . eof the [louse.) It meant that,
mightmeantshouldthat He be asked inquire what means existed of replacing the five millions support the amendment of the Hon. Member for Montrose.
has
twoknew that the result of the division on real property which would be caused by its loss. lion. Gentlemen bah!, -(Hear, hear.) Sir, the reason I support the amendment
the resentpte one, what was the advantage of bringing forward "Try an import duty um, grain ~, but by what process was is simply this, that I think the assessments made under the
felt that
in it. He motion. There might, nevertheless, he advantage that to be done? He' had lately heard of countervailing property-tax ere not equitable-(Cheers)-and I think it
h was not one for avoiding the question ; when he instead of prospective duties on grain ; but he confessed he not impossible to render them less unequal.-(Cheers )
Prepared e had tight and justice on his side he was quite could only regard it as a distinction without a difference.- That, Sir, is the main-the real-reason why 1 support the
'were • 0 to goon, and to see what the minorit and majorltY (Hear. ) He apprehended it meant to make grain dear, or proposition of an amendment. But it is said in cense-
side.' my let him have a question where he hid right on his it meant nothing. No, no.) If not, then, of what good was quence of certain speeches made at this side of the House,
cotton of
ear, and a laugh) What he wanted was a dis- protection?-(He ,n) He had been told by a great agricul- that Honourable Gentlemen are supporting the
to the °t this question there, and then he would leave it tural authority that a 55. duty would not affect the farmer amendment of the Hon. Member for Montrose for other
fore
who ileiountry out of doors ; but that was not the case with favourably; that when he asked a reduction of his rent his reasons and with other objects. - (Hear, hear.) Let us
the einbers in that House. Furter, he would show bee landlord would point to protection.-(Cries of " Name." see if there be any justice in these allegations. The lion.
lord and rho
was over the difference between the land- He (Mr. S. Herbert; could name many. (Laughter and Member for Wiltshire (Mr. S. Herbert), in answering the
the ''"e4 farmer - for the farmer, in fact, belonged to cheers.) It was said that this duty could be imposed with- speech of the worthy Alderman (Thompson) the Member for
for trading class. The Honourable Member for Devon- out raising the price of corn, but that was an absurdity. Westmoreland, said that a great deficiency would be the
_ tattedrelieve
of agricultural distress ; stated that he wanted Checking importation was the project, but there were consequence of the amendment of the Hon. Member for Mon-
tetheht ve the agricultural aopulation from the burden of 9,000,000 of quarters of grain imported, and if these were trose being carried, and that he had a specific to supply that
ef thrn, and clearly , ppesed the income-tax for the benefit wanted, would not the cheek on their importation raise the deficiency, and that it was the imposition of an import duty
ben for c:sbut what did the lion. Alderman, the !hem- price? lie only mentioned these things to show that a ss.
the secron foreign corn. Now the worthy Alderman never made the
Westmoreland, say ?He let the House a little into duty was not so sound a principle as a transference of local slightest allusion to foreig i corn-(Hear, hear)-but he did
..,,,....2. et when he recommended them to remove the in- burdens to the Exchequer in the form of compe, sation for mete one specific proposal to supply the deficiency, and I
ti7lo, our
and make up the deficiency by imposing duties protection. He could not vote for the motion, because there give no opinion on that specific. No doubt his proposition
man hitt. imports. When that Ras said by the Hon. Alder • was no better budget than that before the House, but, look- was of a very important character, and will lead to vast con-
oppostitnee House must have observed how Hon. Members ing forward to the effects of future years, he should vote sequences. He was to supply the deficiency by dealing
to teat el'ititery frankly cheered him ; and when they listened against it. with the terminable annuities ending bete een this and
hundred"
to la, cheer they could not fail to understand that he meant Mr W. MILES eas a great deal astonished at the speech 1860 and 1867 ; and, therefore, as far as my Honourable
Customs' duties, that he meant to restore a few of his Right Hon. Friend. He was willing to give the in- Friend is concerned, it was not only a most erroneous repre-
his Bof those Customs' duties which Sir Robert Peel, to come-tax for three years towards somebody s buaget, but his sentation of what occurred, but it was contradictory to the
rimgreatAlderman
honour, had most wisely and justly removed, the observations perfectly wandered f oni the subject. His Right course pursued by the worthy Alderman.- (Hear.) Well,
cultural duty
fixed erman at the same time recommending a moderate Hon. Friend said that the income-tax was passed for the pur- what occurred next ? Another county Member, the Hon.
en corn for the purpose of relieving the agri- pose of repealing import duties on two occasions, but he Member for Devon (11r. Buck), made a very able and in-
be at th,i,nterest• And at whose expense? It could only forgot to state that it was, in, fact, to make up the annual teresting speech. W ha's was its subject? He entered
has 4:lid they pay
already expense of the industrious classes. How much deficit of 2,000,0001., which had accumulated to upwards of into a detailed description of the county he represented,
?-not less than 20,000,000/. annually 12,000,000/., , hough afterwards it was employed for the of the condition of the various classes of his consti-
upon import duties, Let those who talked of the purpose of revising the system of taxation.-(Hear, hear.) tuents ;he showed us that the proprietor,
the farmer, the
Pressure
countries they never
duties. real property consider that fact. Perhaps The Hon. Member for the West Riding appeared to he in mercantile man, were all equally suffering. lie showed us
had had the curiosity to inquire what other what the Americans called a "fix," because it he opposed the that the consequence of that suffering was the increase of
that theF
eslderived in the shape of revenue from import motion of the Hon Member for Montrose, he would displease pauperism ; and he gave an opinion on the cause of that dis-
per cent. ofa this country the Customs' duties amounted to ho his constituents. The question before them was this-should tress. All he said was, that you ought to modify, if it be in 1
the whole revenue ; but 10 or 11 per cent. was all they have a tax, stated to he unjust by all parties, placed on your power at all, this distress by a remission of taxation.
the import duties derived from a similar source. In Spain the country for three years, with a surplus income of two But how does this justify the sentiments of the Hon. Member
revenue, did not exceed 8 Per cent. of the whole and a half millions, or should they adopt the motion of the for the \Vest Riding, or the speech of the Hon. Member for
Chan-
was - Wilts, or the speech of the Right Hon. Gentleman the
E about
paid
same as in Spain. It was evident, then, that then more unobjectionable than the latter. The whole argu- calor of the Exchequer, who all say that the Hon. Member
wanted t under
try, ataP id nearly three times as much as any other coun- ment of the Hon. Member for the West Riding went to show for Devon was in favour of protection, and that protec ion
such circumstances Hon. Gentlemen opposite that the agriculturists were not to be relieved ; but he was his specific for all the grievances and distress which he
°us lasses. o burden still further the great mass of the industri- would find that they would make themselves heard in the enumerated? r ow, a word did not escape from the lion.
33,00027; The Customs and Excise amounted to between matter, and that they would have justice The Honourable Member's lips about protection, but he most carefully ab-
this cou u"
and 34,000,000 a out of the 50,000,0001. which Member then referred to the case of Mr. Ba.sett, as one of stained from even referring to the possible or probable cause
by thehtry annually yielded as revenue, and that was paid peculiar hardship in respect to the income-tax. One word of the suffering be described.- (Hear, hear.) There was a
thhindustrious classes. Surely, then, those who desired as to the distress of the agricultural classes. Let the House third gentleman who spoke on this side of the House, my
407 PX: further import duties sought to Place the burden look calmly and dispassionately at the privations which they , Noble Friend thee Member for Stamford (the Marquis of
se of erS°nS who were least able to bear it, for the pur- were enduring. Let the House recollect that the Speech Granby). Hi peech has been describ:d as that 2Df one
pose ,a. relieving those who could best endure its pressure. from the Throne declared the landlords and tenants were the giving support to the lion. Member for Montrose, who had
Claret
;1 bohrer when he drank his beer swallowed as much only classes in a position of suffering-and then let the entirely changed the character of
.the de hte ley_ anis-
aYing liquid as the nobleman did when he drank his House recollect, though the session had considerably. ad- gesting the putting of a duty on thhimportation of foreign
nearl It was impossible to put these two classes more vanced, that not an atom not a farthing of relief, was given agricultural produce. My Noble Friend never referred to
no additional a level than they were at present, and, therefore, to them.- Hear, hear.) It Government would not give the subject - (Hear, hear.) He only gave his otehn.hlewe and..
Why
should
burden should be imposed on the weaker, any direct thief, at least let the House do the distressed opinions on the subject of indirect taxation. Notintnhg cotuhid
posehahould they mulct the labouring classes for the pur- classes some justice by saying that this tax, with all its in- be more erroneous-nothing more unjustifiable, an
madee
hearhi easing the wealthier portion of society ? By bearing equalities, should only last one \ ear, in preference to the pro- statements put forth, that there has been an attempt
larg„Y'hen the working classes, and making them pay a position of the Chancellor of the Exchequer, who, having a on this side of the House to change the characterbeof this
pr share than they ought of the public revenue, their surplus, proposed to con lode the n the overtaxed debate, to divert the lion e from the true question forefi ,
ogress was and that we have been arguing for another reason and or
retarded, and they were aware of that them- people for three years longer.-(Loud cheers.) t
gleriev_es. selves; it was no longer a mystery, it was known to the The CHANCELLOR of the EXCHEQUER said, he ter- another cause.-(Hear.) Our conduct was trahnsparen ,
coulh°l:4dY of the people. Of the tendencof the plan there tainly felt himself under some difficulty when the Hon. said the Hon. Member for the West ding;R t e Roush
actin no doubt ; the People knew it to be a mode of ex- Member for Montrose sat down to know what course he should be aware of what was going on; tcom-tax is
eon Hon,
public income from the Poorer Portion of the country. should take - whether he should deal with the speech of the at stake-the income-tax, that foundation of our prosperity,_
eons? . • Friend the Member for Montrose took a course Hon. Gentleman or with his proposition ; for the one had that only future guarantee for the greatness and safety et
Friendin effect was on the side of the tax, yet his Hon. little to do with the other. The Hon. Gentleman had put this empire•-(Cheers and laughter.) The only objection I
and he was at all times in favour of a reduction of taxation ; the House into some difficulty, as to whether they were to have to a property-tax and income-tax is this, that it has
that (Mr. Cobden) would willingly vote against any tax deal with a modification of the tax as a permanent tax, or to always been . brought into the House with representations
we's Opposed to sound Principle, but if called upon to renew it for a short period only. And, although the Hon. which, to use the mildest phrase I can towards them, have
supportmight the only tax that was sound in principle, though it Gentleman who had just spoken had complained of his Right never been fulfilled.-(Hear, hear.) Happy would it have
Otherbe faulty in its details, he should do so. There were Hon. Friend the member for Wiltshire wandering from the been if the Minister who felt it to be his duty to support such
thoualee
income-tax
which he should rather see repealed than the subject, he thought his Right Hon. Friend was one of the a policy had made a bold appeal to the country, and asked
-tax ; he wanted other taxes repealed before he few persons who had addressed himself to the question before them at once, are they of opinion that the financial system
Mem-
bers b t of repealing that. But Honourable Mem- the House; and that he gave a reason which satisfied him, of this country should be changed or not; but, unfortunately,
of this opposite
would compensate for the repeal though it might not satisfy Hon. Gentlemen opposite, why the the income-tax had been renewed, and renewed, and renewed
w tax by putting on others that he (Mr. Cob- tax should be continued for a period beyond one year; and again, while the community are led to believe on every occa-
ed,,n ould still more object to- There were 15,000,0001. he did not think his Right Hon. Friend had gone further from sion that it was on the point of being ended.-(Hear.) But,
the community
", customs and Excise duties that he would take off, in pre. the subject than the worthy Alderman, who declared that his unfortunately, the deception practised on
hfehenhcte to the income-tah, if he could get a reduction of ex- object was to get rid of the income-tax altogether, and to had not bee i limited alone to Ministerial representations to
rhui ure that would enable him to reduce taxation. Upon impose a tax on foreign produce, or the Hon. Member for which I have referred. Other great authorities, when treat-
U'ury ground he should decline to join his Hon. Friend (Mr. Somersetshire, who talked of nothing but protection to ing of this impost, and endeavouring to persuade this
e)
in this motion--(lronical cheers from the Protec- the farmers. Now, the Hon. Member for Montrose said he House and the country to effect great changes in the law,
Oen° tionist benches.) If his Hon. Friend,or any Hon. Gentleman thought the income-tax should be made permanent, but when alluding to that unfortunate tax always made use of
hrherhssite, would tell him how he would advance one step to, that it should be modified ; and to effect that object, the step the delusion which has ever been used to influence public
• vote for thrB remodelling of this tax by bringing 150 gentlemen to he took was to propose that the tax should be continued for the opinion. Here is a speech, not delivered in this H',use, but
duty upon
who wantedto get rid of thistax andvotean import shortest possible period.-( A laugh.) If the lion. Gentleman by one whose fame, like the income-tax, is likely to be tem-
mohourn grain in its Place, he (Mr. Cobden) would vote for this obtained a majority he would not advance one step towards a p„ary. This is a speech described as the speech of Mr.
He did not admit that this tax would remain in its modification of the tax, but would go a considerable way in Cobden on the subject of the income-tax, made in the year
Present. form as a ermanent tax. lie hoped the country preventing its being a permanent one.-( Hear.) But the 1845, before the repeal of the corn-laws. " The income-tax
Would before 1 have the power to remodel the income- Hon. Gentleman went further than he (the Chancellor of the is a fungus growing
out of the tree of monopoly."-(Cheers
tax•---(A laugh.)en Hon. Gentl 'men opposite might laugh, Exchequer) had ever gone. He never advocated it as a r- and laughter.) It is a tax that is the foundation of anew
but he looked forward to changes in the representation manent tax. If the Hon. Gentleman took the course
which would give the great body of the people more power was proposed by the Hon. Member for Cockermouth
in that House than they had at present.-(Hear.) When posing a modification, and would take the s in ro- for the continuance
- of free trade. " The income-tax is a
that commercial system. This is the tax that is the only security
that sense of the
was the case he did not believe that the present income- upon it, the question would then be discussed, and his motion nopoly, the corn-laws, alone renders that tax necessary."
tax would be allowed to continue in its present shape. Did House fungus growing from the tree of monopoly ; that great mo-
would have been in consistency with his speech • but the -(Cheers and laughter.) Talk of public opinion, indeed !
Hon. Members ever investigate the mode of levying the pro- Hon. Gentleman spoke of referring •
hhrty-tax in the United States? In Massachusetts, in the ' W h
New England States, the State expenditure was raiser by it to a Select Coen- I know not who can praise it, to men ; but when we see how
therieittese.b.eethya,atdeirte waswas no new information necessary on this opinion is directed, instructed, dealt with, one must
means of a property-tax. But did it exact as much from the Gentlemanuj 'to propose any perfectlymodification
competent to the Hon. honour the common sense and spirit of a nation that can, on
professional man-from the doctor who wore out his brains thought of the tax he the whole, generally act right - (Hear.)
in midnight watchinga for a fee, and whose income was proper. The objections the Hon. Gentleman had But the Hon. Member for the. West Riding, commencing in
or 1,0001. a ear-as from the man who possessed 15,0001. a but th
5001. stated that evening were stated in 1842, in that highprophetic tone which he has indulged in so
1845, and 1848,
year in real property? No. They took pro ert h the were always negatived ; and he must be permitted often, exclaims, " With free trade there will be no
they found it. and assessed the tax upon the')37 wherever erever to say that he did not know whence the Lion. Gentleman income-tax."-(Loud cheers and laughter.) Now is
hroperty.-(Hear, hear.) They did not touch capital of the had derived the notion which he and the Hon. Member for it to be tolerated that men representing, as un-
and this was a great deal fairer than our income at all, Falmouth appeared to entertain, that he (the Chancellor of fortunately a majority of Members on this side
present system. He the Exchequer) had intendedmodify this for hadofthe House do, class of the corn-
vras prepared to advocate a revision of this tax, but he to
not prepared to do anything to endanger the was stated as distinctly as words could express his meaning, in munity, a elites whose suffering has been recognised by the.
proposi-
commercial ' principles of 1849 that he thou ht no modification . Sovereign and lamented by the Minister, when a proposi-
of the tax whaschpos
polic established when this tax was imposed, sible, and he repeated that t* is brought forward for the continuanceof a great tax
and
bhe could not csnsent to take off from real property the subject was discussed. Fea
Membercasion onfor which the
the details
d
etailsof •• hich particularly uponthem-isreas it
to,
hOO ,000'. which it paid under the income-tax. He could renroached him with having •ifi .be tolerated, Ithat because p constitutional
sti ed inquiry; and he and the say, in a manner
not afford to let it escape that tax Ilewouldask
of his friendswho I'd - - they express the feeling and vindicate the interests of their
( I not wish to see the principle of free wincedendangered that Sir R. Peel intended to' modify this tax. He constituencies in this House, these men are to get up, who
to resist this transparent attempt of the believed it to be quite true that Sir R. Peel had attended to have made such speeches in other places (Cheers)-and
other side of the House-(" Oh!" and ironical cheers) to this subject with the greatest care, to see if it was possible pretend that this constitutional expression, that this ful-
tro a system that had been eminently to the advantage of to make this tax mere just ; but he would read what Sir R. fitment of our duty as representatives of' the people, are
the great mass of the community.-(Cheers and " Oh, oh !e) Peel said in 1848, on the last occasion of this tax being nothing more than a mask to the attempt to get back
.. Me r. JACOB BELL said the House had now to consider brought before the House, when he was not hampered, by those abrogated laws after the passing of which, accord-
9,
aproperty-tax in its present form against no property-tax being in office, with any of those difficulties which might ing to the Honourable Member for the West Riding,
at 11. They were all agreed, first, that the tax was unjust, otherwise have been forced upon him, and had had the ex- i , was impossible that an income-tax could ever
inquisitorial,
and exceedingly opppressive, and in the next penance of six years for coming to a deliberate opinion upon exist?-(Cheers.) We are told by the Chancellor of the
Place that it was impossible to do without it for the present it. Sir R. Peel said- Exchequer that no modification of the grievous details ef
hettr.-(Hear.) The House was unanimously of opinion n I must say, after having given the subject repeated this tax is to be expected, and that the motion of the Hon.
,w, that the tax must be levied for one year, but could they do consideration, that I think the tax ought to be on income, Member for Montrose only applies to this. There is no one
'Government
it for the two years next afterwards, and would the and that there should be no distinction made in the amount in this House who has expressed opinions more directly the
.hevernment lose anything by limiting the Period to one ear?y of the tax on account of the different sources from which the contrary to this than the Chancellor of the Exchequer him-
WheY would lose two-thirds of the total amount that the tax incomes are derived. I never would consent to relieve from self. 1 give the Right Honourable Gentleman every adean-
ofhueld raise, but they would gain an amount of Popularity out the tax incomes derived from trade and from professions, tage he can make use of on the change of the corn-laws
if doors that would be of great service to them. - (Laughter.) for the urose of making an invidious, and, as I think, an for the change in his commercial policy. I think such a
we bad a change of Administration this year the unjust distinction, 13 1 •such tax upon funded, or defence is a very legitimate one • but his opinion as to the
sew Ministers y evying a
. , would reap the benefit, and the present Mi- what is called realized property. ••• • By repealing fixing of the assessment of the law does not depend upon
Ihlsetry would bear the whole of the odium of having imposed the taxes on articles of luxury you benefit all parties the existence or non existence of the corn-laws. The Hon.
went should
for three years. On the other hand, if the Govern- equally, and therefore it seems to me that the onus of the Gentleman has spoken thus in 1845 With regard to the
equally easy,
remain in office for three years, it would be tax which you substitute for those you have repealed ought general argument, the inequality, injustice and inconvenience
tax as easy, at the expiration of the year, I o continue the to be borne equally by all, whatever may be the source of of the taxation, no attempt is made to answer." It is to this
the ash, it was at present. He should like, therefore, to see their income. . . . . Subsequent consideration (since objection that 1 understand the motion of the Hon. Member
-x imposed for one year, and to consider in the mean- the imposition of the income-tax in 1842, and ita renewal in for Montrose applies. It is only to remedy this injustice, this
feltwhile,. some definite plan for removing its injustice. But he 1845) has confirmed me in the opinion that any attempt to inequality of taxatior, that I support the amendment of the
eitithunself placed in an unpleasant predicament. He must impose a greater annual burden upon income derived from Hon. Member. The Hon. Member for the West Riding, play-
either vote vote to continue the income-tax for three years, realized property would, apart from the objection that the ing the critic on his Hon. Friend, says the course he is
(A which if he did he should be unable to look his friends out public faith is pledged to the contrary in the case taking is most unwise and unadvisable. There are 150 Pro-
hteer°ers in the face (A laugh) -or he must vote against the of the funds, lead to consequences which lam not prepared taking opposite ready to take you at your worhp free
eheeerhment at a period when he, for one, considered it an to contemplate, and which I should dread to see aceom- trade trembles-totters on its base.-(Hear, hear.) called
thungly improper time t , place the Government in an plished." you had brought forward the question properly, and
embarrassing6:au position by putting them in a minority.- It was difficult for any man to say, after that, that it was the the attention of the House to the in, qui able manner in
Lo
gliter from the Opposition benches.) He would appeal intention of Sir R. Peel to modify the tax in the way sug- which the profits on trades and professions are assessed, you
h_ the Noble Lord at the head of the Goverument whether geted by the Hen. Member for Montrose or the lion. Member would have a chance of not endangering the existence of
hhht was a proper position for his friends to be in, to be for Glasgow. It was no trifling modification of a tax, as Government (according to the opinion of the Hon. Member
boor of
to vote either against the Government or in fa- levied on one person or aliother, to which the Hon. Gentle- for the West Riding) ; but, though you would be quite sure o
unwir of a measure which involved such extreme hardship man directed tne attention of the House • but he was pro- be ng well beaten, you would have taken a straightforward
y'°ll the community. If he (Mr. Bell) supported the Go- posing to deal with a great principle, which ought to be con- course.--( hear.) But why hid not the Hon. Member for the
fraMent upon the present inotion-(" Oh !" and laughter sidered by the House in some other way than as a mere West Riding make cause roposition himself?-(Hear.) I
te(1);111 the Protectiouists)-it was only because he saw that , question of the modification of a tax. ef such were the will tell you why-blie has an idea that these terrible
Thwas being made a party question.--e Continued laughter.) lion. Gentleman's views, let him come down to the House Protectionists are not so callous to the sufferings of the pro-
b r• S. HERBERT was not influenced by the same em- and make a distinct proposition that 10,000,00 /. or fcssional community as he has stated. Let him bring for-
thrrassing feelings as the Hon. Member, nor did he hold 15,000,000/. of these taxes should he repealed and their place ward his proposition,
however, but I will not guarantee
elf under the same, necessity of relieving the Govern- be supplied by a proportionate direct tax upon realized pro- him that he will be defeated by that large majority. I give
meathe had
at the exphnse of his own convictions. The conclusion perty. That would be a clear principle upon which the the Hon. Member for the West Riding, therefore, notice, that
tin in come to on the question was also irrespective of par- House might give its decision; and if the decision were fa- when he has made his statement, and when he finds that
be7,hi that House. If the night was one of cross-votings, as vourable to the Hon. Gentleman's views, the Hon. Gentle- free trade and the Government are in danger, he shall not
In-0" been stated, it was likewise one of cross-reasoning. The man could state in what manner he proposed to carry out the say that while he thought us dealing with the details of tax-
. tion of the R Member for Montrosehad certain striae- new taxation The Hon. Member for Falmouth fairly stated
tons fee,. on.ing professional income, we were all the time dealing with
Rive for (Mr. S. Herbert) until the Hon. Member had that his object was to impose upon realized property double his new commercial policy.-( Hear, hear.) I call upon the
'srl his arguments in its favour, which were decidedly the duty that was paid by income; this, again, was a broad House now not to be diverted from the real question before
against it. He - it by that stale old ruse, that this is going backward in our
distinctrotla„T from those adduced in its support. Ile self in Committee, was best fitted to decide.-(Hear.) The commercial policy.-(ilear, hear.) Let the House recollect
incom. h f`ierbhert) could not forget the grounds on which the Hon. Member for hlontrose admitted that his object was to that this commercial policy, be its merits or demerits whet
--.`ax "ad been imposed in the first instance. It was render the income, or, rather, as he preferred to call it, the they may, is too vast a thing to be shaken by a vote of
.this
imposedpu distinctly as a temorar tax-(Cheers)-for the property- tax, a permanent impost- He wondered that, with House.- (Cheers ) This is not the way we mean to assail it,
thepuoosue of effecting certain changes in the fiscal system of this object ifate'h,-, the, Hon. Member himself did not prefer if we feel it to be our duty to
dive take that course.-(Hear,
country in 1842
these chan • , and to cover the ueuciency cause to e
its re • gas in the rand
The of the tax caused nearer approach to his principle-(A laugh)-for his own course on the subject of taxation because our opponents at-
-unposition for three e• success
d part, he differed from his lion. Friend on that point-(Hear) tempt to establish, for the five hundredth time, that we are
that it was re • years longer, on the special ground
1848 it w have been
requisite to test the effect of these changes. In -he had never proposed or contemplated the tax as a per- trying for the restoration of the corn-laws. We .
as again i 1 the manent impost, but always, to borrow an expressive phrase treated to-night, by Members competent to do so, with lee-
famine in Ireland mposed for other urosee name.y,
and; but the
that it was
famine to be especiall in the latter, RS the cover of which certain further changes in our financial ar- scribed an attempt which I myself made to obtain some
would
that pass away. It was the3feelin of the country rangements might be effected. He would just put it to those small relief for the sufferings of the farmers; and he
_ ean income-tax should only be resorts i to on special who agreed with him in that object, whether any Chancellor said it was not an attempt in accordance with the spirit
hhh, anions-in times of pressureand , (Loud of the Exchequer would be mad enough to propose any such of the age, nor made by one acquainted with the circum-
shes of " N ee emergence -
tax as ° -and that was the meaning of the term war further changes in our fiscal system, with so large an amount stances of the times. Now, I will not stop to argue these
and a
.applied to it. He Mr. S. Herbert) thought it a fair as nearly 5,500,0001. dependent upon an annual vote?- points with the Honourable Member for Wiltshire. He has
necesest Proposal to continue the income tax if it was (Hear, hear.) The only possible condition under which given his opinion on the important subject of a protective
furtherrY ; but he he had to look to its justification for a such changes could be ventured upon was the approximate duty on foreign corn, lie said it was called by different
with t Jeeriod. He lamented that the Budget did not deal security Bent e-tain amount of revenue for a definite period. names -now it was designated a protective duty, and now a
the 44
articles' •111 their nature elastic, instead of dealin with Lord G.inck, a high authority with Hon. Gentlemen countervailing duty, although he was not able to understand
relieved, sit did ;by that means the community would be oposite, had always been most anxtous, for example, that the the'difference. lam not here to argue on the question of
tax _ . and while income would be obtained the income duties upon tea shout Ibe considerably reduced, and the Right the difference between those two. '1 hey may be good or
but ireuti be abolished. Malt and tea were elastic taxes ; Hon. Member for Wiltshire had just referred to those duties they may be bad ; but lam certain of this at least that there
to see Y had not been touched- He (Mr- S. Herbert) hoped as of the elastic kind which he wished to see touched. Now is a great difference between them.- (Cheers.) The opinion
them touched; but he knew that could not be if the it would be quite impossible for any Chancellor of the Ex- of no less distinguished a man than Ricardo, that great light
income-tax was not retained .
for a further period.touch those duties with an income-tax continued informed olitical economy another as painstaking and well-
rnight be There chequer to
into sanitary reasons for transferring the windowyear to year. Very true, the reduced duties as M`Culloch was, that countervailing duties were ,
h a house-tax
he_. ; but it was now too late to deal with them, mi
-tax merely from
five years, by increased consumption, re- always held to be a compensatory duty, giving compensation
oe questa() h ght, in four or
get ehth tie Leen, was, whether there was any other bud- cover their pristine amount, but what, meantime, was to be for some tax which the community does not share ; while a
the which he could agree. He could not agree with done,' the 5 000 000/. of income-tax relueed by the protective duty is one granted to a class, in consequence of
supposing , ,
Honourable Member for the West Riding
local burdens as regarded House in any one of those four or five years ?- (Hear, hear.) general taxation which all share. And thus we object on
rdens; but if they were to be transferred to the Ex- To effect the fiscal improvements which he, in common with principle to protective duties, and are amongst the warmest i
chequercompensation
it should be distinctly understood that it was in a large proportion of the House, desired, it was absolutely supporters of countervailing duties. The Hon. Member
was that
for the loss of protective duties. That it essential tllat the income-tax should be continued for a having fully described the difference between the two classes
th: destroyed the ground on which the proposal of longer period than that proposed by the amendment. If of duties referred to then continued-The only reasons for
bystander
Member for Bucks was based. As a that amendment were adopted, its mover must be responsi- which I support the amendment of the Hon. Member for '
der
he (Mr. S. Herbert) thought the Honourable ble to the d • •„it of those fiscal reforms Montrose are these I have stated. They are that this tax bears
Member and his country for eprivinh
in ~ party had taken a wrong course which the continuance of the income-tax could alone secure. no regard to the agricultural position of this country ; that
,
huhu° matter. Finding himself in the position of - (Hear, hear.) It handsomely suggested the assessment of this unequal tax should if possible be made
had been very
tng two bud e tresented to him, neither of which he that the Government
oe s p
could accept, merely wanted to keep up particularly to the position
,iti . pt, he felt that he ought not to vote for a propo- for three years, inorder keep themselves afloat a the tenant-farmers whos3 distress has been recognised by
on which to
that the would put a stop to those financial arrangements while longer in Were they• üble of snch mean, Government, and also to that of professional men, and I feel
House hadoffice. cap
meatcouldassented to, more especially as the Govern- Pe.tty motives,e the amendment of his Honourable Friend persuaded that whatever Minister be in office, whether he be
not, in
single
fur 1 .year's income-tax.-( Her. He had stated his reasons simply say, in reply, that in the first place, his object for any length of time the assessment under which the pre-
°elute'', on the -
were many income-tax as a temporary tax; but there was to effect a public geod, and, in the second, that if' sent income-tax is made. - (Hear.) All these anomalies and
gins.'
understanding
other reasons besides those implied in the ori- official changes should take place, he desired to put no sue- inequalities might have been borne when the Ministry who
in-
did not rstanding why it should not be permanent. He cessor of his in a worse fiscal position than he himself oc- introduced this law, believing it, no doubt, to be such, in-
nut he contendh that it was the most unequal tax imposed, cuPiel--(lleart hear.) When he considered the course of troduced it audit temporary nleasure, to meet a temporary
equality
was most
that it was the tax on which the in- public events during the last few years, he felt it to be exigency ; was thought useless to indulge in criticisms
daect . distinctly visible. Taking indeed the in- utterly tmpossible.for any. man to redicate what would be against the cone and grievances which time would soon re-
.,taxation paid by the working en the position of Europe in any given
tete necessaries of life the temporary
h man, for example, up
and,
wills
.. feeling,
Illere was far r , lie believed it would be found that hence ;
the income-tax. eaOneplace , however, was visible, but the other mere precariousness as would he occasioned by the successqualities becomes a portion cf the management of life for
merit of indirect
sensible, and taxation was that it was in- of this amendment.- (Hear, hear.) The enactment of the gall those who live under its influence.-( Hear.) There is
ee _ , , not perceived by the three years, let it be remembered, would
" ar.) There was person paying it.-(Hear, tax for . , not preclude another reason why we should deal with these two points, es-
come-tax should another reason, however, why the in- himself, or any successor of hie, or any Member of the House p cially the latter one. The temporary measure which we sup-
come-tax
not be perrnanent-namel th •
e immense :from proposing,
in the ensuing session, such reductions or, efirst introduced a greater degree of direct taxation
, of fraud it engendered At it 37'
modifications ported at
then seem expedient.
but as time • first was honestly paid ; as might But he put it into the financial system of this country than it before
of
eh e passed fraud was • for the public
13 coming greater and greater, practised-small at first, but to the House whether it was
geniously carried until at length it was so in- I should be a financial crisis every year, or that, from year to rect taxation, it severe could enter largely into the financial
ti_ ,
..out as to defy all
, wet investigation• At the the scrutiny of the closest I, year, there should be the risk of the sudden deficit of syetein until it w . That reply of taxation was
in modifyh • same time he saw a difficult ' r iportion of the revenue as 5,500,000/.- gettii 1 1 heard, but it was with those
rg popular, have
fie ing or al el.' • •
d that if it ' y 1 so enormous a p ,
t ing it , while he felt satin : (Hear, hear.) He trusted that the House, by a large wit° were not taxed at all. This system, however, is not
Member for was 'left to thole' whom the Honourable ' daffirm the principle that for the future, as in
taxation, but hontiscaion. Carry out the system on a
would be .the West Riding alluded e majority, wont
to as the people it the past, the finaeces of this country ought to retain that broad scale, as taxation is carried ou by your present legis-
lizah raised to what had been
14--V 1h• 10
i per cent. Hebepower of •
termed its natural character of stability on which the credit and t latiou, and you are attacking the capital of the country, and
(Dlr. Herbert) did not think i the country depended.-(Cheers.) diminishing the paeans of giving employment of aim who

MAY

1861.

now support labour. It is because it deals most
is
neiltys rent than he would otherwise be able to do. And then con- 1 Ireland. The officer whom it ems proposed by this Bill to
eider what discontent you may excite among the great mass compensate was the registrar an d clerk of this court, whose
with the principle of direct taxation, because it. slaisses
of the people.—(Hear, hear.) Sir, we had only yester,lay i office was a freehold held by pattint under the Crown. This
mode of assessment unjust and injurious to certainc
we,
a magnificent sight in this metropolis— (Cheers) a sight I office had been filled for twenty-live years by Sir E. Tierney,
and more especially to the professional classes, whom
ought carefully to support in this House—it is for these which was gratifying on many accounts. It was gralfying who had a salary of 2601. per annum, and fees averaging
reasons that I feel it MY duty to support the amendment of to see that this nation, and other nations of the world, had 3001. a year,. which were fixed by the. Act constituting the
the Hon, member for Montrose. If it were an amendment assembled in one Place the various products of their talent court, passed m 1803, and a subsequent Act regulating the
that either on that or on this side of the House would and of their industry. It was gratifying to see that means court, passed in 1833. It was proposed to give him such
crudely ask us in the present state of our affairs to negative have been found to place, in a splendid and magnificent compensation as the Treasur miht award for anreduction
IsetnefenthewCereenrntowof Erexdcuheeeqduteor Chamber, but
the imposition of the income tax. I could not sanction sue h building, the products of art and of industry. But what ianlttehraesteiofnesesinwthbiechpmraiegthioet takeand placeprocess in consequence of the
of the court which
a course ;half 'll'
but because it does not interfere with the financial. w_aspenaopoiset_g(roatityeirnsg)
—sumo say
was to saeernthi elognre_at
orhaesrss
ffieulties of the say near a million of persons—in the utmost good humour, LEIR did not consider th •
ample time to the Government to meet the d:
will Gene al for Irelande information given
arrangements of thin year or the next year—hecause it gives ofmiughrt. bseAtected ender this Bill.
case—and because lam sure no Government attempt to with content upon their countenances, with loyalty in their by the Attorney r. aa all satisfactory.
attempt
1 h
meet those difficulties and to remove those grievances un ess eerts—(Cheers) assembled to see the spectacle that was Before Easter it was said that this Bill was to compen-
we take up such a course, I shall feel it my duty to support ethxehipboitoerdesbt eafonrae tmheeamn.estSirh,atbliileismeepnetse,plseh,oswoimnge
tohfatthemtheiyn stahteeseththrereeeoffigecnetr
the amendment.—(Loud checre ) one. He be-
had a difficulty by their industry to gain their daily 1 iveli- lieved that, as long as had been connected with profes-
sinecure, so
hood, they saw without envy, without repining, with- sional practice in Dublin, this office had bee
hßeliciSueSsEtilo.nLt—hlaft
itslineolvl,robuesfeories
iptl,acietdis ionwianngytoditte
out complaint, the equipages of the rich and the splendid far as the personal service or attendance ofnSTr E Tierney
cuLltyorodnjt
course which tthoep in pass before them. They did so, as I believe, because they ' went; he had been, for a laege part of his life an absentee in
ions.— felt that injustice was not exerc any duties
promote his
boewrnfovrieMwsonatnraoseprloiepsostitaken •
(Hear, and a laugh.) The Hon. Member for Montrose says hear.) But if you are to tell the people that the rich are to they were discharged by a
ised towards them.— (Hear, England and upon the Continent,_epnty. and if hperohtaedstedagainst
endeavouring
have their incomes 3 increased by adding to the price proceeding with the measure at nearly onneerarelfeorcklrinl the
that he wishes for a permanent tax upon property eof the daily food of those masses—(Hear, hear)—l ray morning. He wished the Attorney
bG
wishes for direct taxes in preference to indirect—he wishes you can then expect no longer to see those cheerful coun- would follow the practice icl.opatteteltg yethe Master o; atlre
for a modification of the present tax upon property and in- tenances—you can then expect no longer that the institu- Rolls last
.session, of not ',origin i debates on Irish Bills
come. It would seem that the natural, the usual, the Far- tions of the country will meet with a ready and contented after midnight, except with the concurrence of Irish Mem-
obedience. But you must expect the heart-burnings, the ill- hers, who might be disposed to take a prominent part in
liamentary way of proceeding to effect such an object was,
will, and the discontent which muet follow the imposition of their consideration.— (Hear.)
when the income-tax was before the House, to propose such unjust laws.—(Cheers.) Sir, I have found it necessary to Lord JOHNS RUSSELL had always understood that it
a modification as he thought equitable—to make the tax,
say this in consequence of the turn which this debate has was an established rule that, when any change was made
cos
if he could obtain the assent of a majority, such as he taken. I should have been willing to argui, this question the administration of justice, those who held patent
.ffi.nes.
solely on the ground of the continuance of the income-tax for should receive compensation for any diminution of their i
should consider to be just; and having obtained this modi-
one of the principal powers of the justice, and it certainly would belta
licatiou of the tax, then to propose that the tax, instead one year or for three, on that ground I should have argued comes which might take place.
ro-
of being a tax for three years, should be a tax of perms- that as a nation— as
nent duration. That was the natural and Parliamentary
world—it was improvident and unsafe to risk the duration dented to take away such an office—which had always been
H A MqlnuLi r
yTt
hOheNe
sfsoeaulwencdtn
that
Commh
arte a ssiornt
tEef.eor
o onlo 0 a
course
for him to pursue. But, says the Honourable Mem- of a considerable part of your revenue.. I should have argued,. considered a kind of freehold—without compensating its
her, " I cannot take that course, for it is a matter of ac- wouldtbing whollyh e
ee.
knowledged difficulty to make this tax equal and just. I promotersniesantaxnonicipllemtbellye
gtaoinosbajye,ctsioonms,nwebhicthhe nmonoereofisitist holder.
A.
cannot make a propositi 'n which is so complete as to enable
desirable that we should not, year by year, have it dragged clause of this kind, which left the matter afterwards to be
the laws of
me with confidence to tender it to the House, and therefore
into popular discussion. I should have said, that at this settled by the Treasury.
that
n s
t
time above all is it desirable to show that your financial Mr. GOOLD asked if Sir E. Tierney was the only person.
I ask for inquiry." But if the Honourable Member wished
system is secure and solid. These are grounds which, as to receive compensation?
for inquiry, how comes it that during the time this tax
has lasted, from 1842 to 1851, he has never proposed such an
they affect the whole of this House, so they. more pecu- Mr. HATOHELL denied, as asserted by the Hon. Mem-
inquiry ? liarly affect those who take Conservative views upon this her for Carlow, that Sir E. Tierney was either a sinecurist or
air. FIUME—I have, three times.—(Cheers and laughter.) Tierney was the
Lord JOHN RUSSELL—I do not remember any case of
the kind, and certainly since the present Government came subject. The Noble Lord, the Member for Stamford, anskeed absentee. Ono
din
Friend, that he wished for a direct tax almost resolutionthen universal, The was agreed to, and the House re-
into office such a motion has never been opposed.—(Hear.) me to mark with attention the declaration of my n. only pe-son to be compensated.
If the Hon. Member wished for an inquiry, he ought to have
would make those who paid it discontented with .
the amount On the motion of Mr. HEADLAM the following Members
proposed it, and conducted the inquiry. But, so far as I re-
of the establishments, which the present Government were appoint e o
and very large in amount, because he thought that that sumed.
member, he has done nothing of the kind. Having allowed
consider necessary for the safety, for the honour, for the mortmain :—Mr. Headlam, Mr. Attorney-General, Lord
the tax to be imposed in 1848 for three years, the Hon.
power of this country. Sir, I did mark that observation;
Member now said, "Let me have an inquiry!" It is obvious but the moral I drew from it was somewhat different Mr. Fitzpatrick, Mr. Roundel' Palmer, Mr. Heald, Si;
he could hardly succeed in that during the present session, from that of the Noble Lord. I drew from i. ,'t indeed, the RobertHarrylnglis,
Lord Harry Vane, Mr. William Mar-
and at the beginning of the next he would hardly be able to moral, that it is not desirable to lose your indirect taxation,.
shall, Mr. Anstey, Ma. Shafto Adair, Mr. Hardcastle, and
state the result of such inquiry, and a renewal of the tax to allow that the revenue of this country should be derived Mr. Drummond.
tor another year would be necessary. Now the course in by far the greater 13roportion from direct taxation. Bet Mr CORNEWALL LEWIS obtained leave to bring in a
pursued by the Honourable Member had led to this very I also drew the moral that it is not desirable to make this o simp y
Bill t. • lif the forma of appointments to certain offices,
absurd consequence. The Honourable Member wishes the
tax, giving more than five millions a year, a tax which if and the manner Sill
of passing grants under the Great Seal.
tax to be permanent. He is immediately supported by
lasting only for a short time would be exposed to perpetual The Bill was subsequently brought in and read a first time.
those who wish it to be done away with altogether.— criticism, and to a fresh examination in the course of every Mr TRELAWNY moved the a pointment of the Select
p
(Laughter.) The Honourable Member is for direct taxationchurch rates.
year, and thereby entail the risk of either your income fall- Committee on c
in place [of indirect. He would abolish many millions of RD ted
ing below your expenditure, or of reducing that expenditure Mr. BERESFO suggas that the hour was too late
indirect taxation, which he says is excessive, and would
below what you deem necessary for the safety of the country. to appoint the Committee.
supply its place by' a general direct tax. He is supported
And let the Noble Lord be assured that lam not mistaken . Mr. TRELAWNY said, if they did not appin this —that whatever views may induce him and others mittee, oint the Com-
by those who are in favour of indirect taxation, and wouldthe people out of doors would say they were not sin-
carry it to a greater extent than it is now carried, and would
to support the amendment of my Honourable Friend to- cere on the question.
diminish and abolish the tax which is a direct tax with a
i ht, that if they succeed in that amendment it will not Mr. SPOONER then moved the adjournment of the
view of diminishing direct taxation.—(Laughter.) The Hon.
night,
topromote either the maintenance of the establishments question.
Gentleman is for making the tax permanent, and he is sup- n
ported by those who would do away with it at the first pos- the safety of the country, nor will it tend to The House divided, when there appeared—
ecessary for
the safety of those institutions which he thinks ought to For the adjournment ... ... .. ... 17
Bible opportunity.—(Laughter.) I think the Hon. Gentleman
be preserved. On the contrary, your system of finance, Against it
must have been rather alarmed at the care taken of his child
your system of taxation, ought to be known to the world
by those who are opposed to him upon every view which he
as a stable and a settled system; for nothing tends more to
takes. During the whole course of the debate the
dandling and nursing of his infant must have alarmed him as shake a Government, nothing tends more to endanger a
to the future fate of that universal permanent tax which state, than when its taxes are exposed to perpetual un-
he has in his imagination.—(Continued lau c
ghter. ) But there Inty —(Cheers, amidst which the Noble Lord resumed
have been other grounds on which Honourable Gentlemen hise certainty.—(Cheers,
Mr. MUNTZ rose amidst calls for a division. ThelHon.
opposite, in very considerable numbers, have supported the
proposition of the Honourable Member : and these grounds, Gentleman said he could not understand on what principle
the House should grant a tax for three years when they lead
it
however much the Honourable Gentleman who spoke last has in their power always to prolong it for an additional year
endeavoured to conceal it from the House, are the necessity
of getting rid of the income-tax, of getting rid of as much if it was found to be necessary. Neither the Noble Lord
direct taxation as we can, with the view of imposing import nor the Chancellor of the Exchequer had assigned one' valid
reason shouldvote the • come-tax for three years
why they
duties on foreign corn.— (Cheers.) The words" foreign pro-
duce," used by the worthy Alderman, who, as the fugle- at one time any more than they should vote the army and
man of his party, supported the amendment, were under- navy estimates for three years at once instead of for the cur-
stood by the House to mean "foreign corn."—(Cheers.) rent year.—(Hear, hear.) They were told that the ine-
qualities and iniquities of the tax could never be removed.
Many Honourable Gentlemen opposite, when speaking of
Were they then to say that all the improvement was to
local taxation and the malt-tax, and questions affecting the
stop, and no remedy for a crying grievance to be adtainis-
landed interest and the general taxation of the country,
tared? Let them follow the example of the United States of
speak out with the manliness which belongs to their charac- America, which had been already referred to, and they would
ter as a party. and say, "Our real object is the restoration
collect a property-tax much more sound, equitable, and free
of protection," and then the Hon. Gentleman the Member from vexation, and therefore much more satisfactory to the
for Buckinghamshire has always to rise after them— people at large. Whatever the Government might think,
(Laughter and cheers)—and say " Don't take them at their he was sure that out of doors great anxiety was
word—whatever you have hoard I have not heard." The felt on this subject. The people said with justice;
Hon Member always happens to be in the situation that he that the tax was at first conceded for a limited
has not heard a word of protection, although most persons period, and for a special purpose; and yet time after time
on this side of the House and on the other side hear a great it had been renewed, and they could not see ' when
deal of reiteration of the necessity of the restoration of pre- there was to be any end to it. The Noble Lord taunted the
tection. I think the Hon. Member will at length get tired Hon. Member for Montrose with receiving support from the
of this continual obligation to remind them of the necessity opposite side. Pray, was the Noble Lord never supported by
of being more prudent. If they will always march forward the opposite side— (Hear, hear)—and had he not many a
when he wishes them to march back—if they will always time courted the assistance of Hon. Gentlemen opposite?
be getting out of line—if they will always be firing off their He (Mr. Muntz) intended to vote with the Hon.' Gen-
muskets when they ought to restrain their fire, the tleman, and lie hoped he was determined to do what he be-
youorable Member will at least say, "Upon my word and accept support in doing it wherelver he
lieved to be right,
are too bad ; I'll not march through Coventry could get it.— (Hear, hear.)
with you, that's fiat."—(Loud laughter.) But then Lord JOHN RUSSELL said he did not reproach the Hon.
the honourable Member says that the Honourable Member Gentleman for being supported by the opposite side. He
for the West Riding goes and makes speeches in other had said that Hon. Gentlemen opposite supported his Hon.
places. That certainly is a dreadful crime. But if the Friend for reasons totally different and, contradictory to his
Hon. Member for the West Riding makes speeches in one
own views.
place, the Protectionist party make them in another. If the Mr. GEACII thought the compensations derived by the
Anti :Corn-law League met in Covent-garden Theatre, is there country during the existence of the income-tax mores than
not a party which meet in Drury-lane?—(Laughter.) It is counterbalanced the injuries it inflicted by its inequalities.
said that the members of the Anti-Corn-law League some- He had at first felt favourable towards the Hon. Member for
times carried their speeches beyond the bounds of discretion. Pilontrose's motion; but he 11:q1 since beenconvinced that the
But we were told the other day that if the corn laws are re- practical effect of his vote would be in a totally opposite di-
stored 100,000 persons are ready to follow a leader in support rection from the result he desired, and therefore he must vote
of the law which would be thus restored.—(Hear, hear.) against the amendment.
These are the speeches made out of doors, and if we hear Mr. ROEBUCK hoped he would be allowed to defend him-
something of the same kind in this House, it is no wonder self from the extremely unfair speech of the Noble Lord—
if we suppose the object is to restore protection.— (Hear,
(Hear)—as he intended to support the amendment of the
hear.) The character of the motion of the Hon. Gentleman Hon. Member for Montrose. Now, let the House see how
has been entirely changed by the support given to it. The
the ceae stood. The Noble Lord himself did not object to
Honourable Member wishes to have the inquiry. His sup- the groundwork of the amendment—namely, the inequality
porters do not say that that is their object. *They do not and injustice of this tax ; but then the Noble Lord wished to
want an inquiry to make the tax more equal. Nobody but fix upon his Hon. Friend and all who voted with him an bli-
the Honourable Member for Buckinghamshire said that putation that they wished to bring back the old system of
was his object. The Noble Lord the Member for Stamford protection. Now he (Mr. Roebuck) took the amendment to
said that this tax, unfair as it was, could not be made be this—they had to raise a certain sum for the purposes of
equal and devoid of faults, and that, bad as it is, its faults Government by taxation, and his Hon. Friend always
are incapable of amendment.—(Cheers.) If the Honourable wished to make that sum as small as possble ; but he said,
Member succeeds in his motion, he will be no nearer his ob- ' If you will raise a sum so large as you do, and which I be-
ject than before. He will find that those who go with him lieve, with proper economy, would be totally unnecessary,
into the lobby to limit the tax have a different object in then, for God's sake, raise it fairly 1" Look at the case of a
view - that they do not wish an inquiry for the purpose of man deriving a settled income of 1,0001. a year from land,
making the tax equal, but that their real object is to put an end or from some other fixed source, as compared with the man
to the tax, and in so doing make such a deficiency, that then deriving an income from a profession. Another man was
their favourite views might be carried out, in the restoration obliged to keep his mind on the stretch, oppressed with all
of foreign import duties upon grain.— ( Hear, hear.) Sir, the responsibilities and difficulties of existence, and might
the language in this respect, and in the House to-night. was lose his income at a moment when his powers were di-
not at. all equivocal. The Hon. Member for Devonshire, who minishing, and he was no longer able to provide for the
speke in support of the motion, gave, as an example that support of his family. Compare this with the condition of the
we ought to follow, the President, and Legislature of the man who derived his income from land. He might be para-
United States of America, where,k said all native industry lytic, ignorant, idle, anything, but his thousand pounds
was protected. Every one ienovis pat none of the manufac- a year remained to him. He said this was a gross injustice,
Curers of this country want any protection for their cotton and it was this that Government were fighting for. When
or their woollen goods—that that protection was taken the Hon. Member for Coventry (Mr. Geach) told them that
away many years ago. They were not sufferers by it, be- he had sounded the feelings out of doors, he would tell the
cause they go into the markets bf the world and compete Hon. Member that he would meet him before any meeting
with other producers on equal term. Therefore, the only of his countrymen, and he had that confidence in their
persons who requires protection the only kind of spirit of justice that he believed they would be for the work-
native industry that now ,:raquires protection asks
for that protection which ing man and his interests. Those who supported the amend-
was formerly given to ment wished to raise the funds required for the public ser-
the landed interests of this ,- country. Sir, when, in ,• •
1846, the protective duties were -eery much diminished with an e uitable wax The Noble Lord told them they
A ice la q . y.
regard to some articles of our nt,nufact but he must ask if that
were endangering the Government;
urers, many consti- was so serious a result, because he must say, seeing the
tuents of mine came to me, urging me not to vote for the .
tariff which was then proposed by Sir R. Peel ; and they u ter injustice. of the Noble Lord's policy, that, if it was ne-
said, not unnaturally, "We codid bear this for the public service, it
cessary to raise the present sum .
competition with would become that House to find a fair means of doing so.
the foreigners if we were not obliged to pay an extra and in-
—(Hear hear.) When questions of economy arose, he
ceased price for our food in consequence of the corn-laws." hoped
My answer was, " I cannot cotapi), with your
request : I ' Hon. Gentlemen the other side would show
that on. on
the force of their convictions by taking the same line as
must vote for the diminution of those duties on your mane- thernse'ves. He was Aston ishea that the Hon. Member for
factures. But you must depend upon this—that this country
will not long suffer the injustice, that you should be exposed , •
the West Riding (Mr. Cobden), who had proposed so many
the competition of the foreignsweeping schemes of retrenchment, should withhold his sup-
toproducer and be obliged
pay an artificial price for your bread in consequence this • if wouldstint the taxa-
to port from motion ; the House
of the tion of the country, they would find it an easy matter to cut
acts of the Legislature." And I found myself perfectly jus- down
titled by the event; because in a few years that protection He was not to be deterred from
expenditure...
was taken off. In the course Of some of these debates ' supporting this motion being told that Gentlemen opposite
by
opinions have been much alluded to with regard to the income andoustwhat
my were about to take advantage of the proposal,
- was called a Liberal Administration. He wished to see an
tax. The Noble. Lord the Member for Stamford to-night w` • • • • h • 1 Opposition,for
said that we were justified on this side of the House if had illiberal Administration with .
a Liberal he
changed our opinions with
respect
my opinions
inis ra
on the income-tax, although they would be justified if Ad ' • t tion with a downright illiberal Opposition.
m
have really they had been altered,. . undergone very little (
sin le
) . .
Hear hear. They had seen the greatest reforms, without
it in 1842 little a single exception. carried out when Gentlemen opposite
change. I opposed
a., i . , , and I still, think I was
justified in that o
13po "ll' I think that if the pro- were in office, and those who now occupied the Ministerial
tective duties on corn,wasu.gar, and timber had been benches were in opposition. He really thought the Noble
very much reduced, it
so
liablelel then have been possible Lord and his colleagues were cut out for the functions of op-
to impose a tax even_ . . to objection. In
dB4position.—(A laugh.) They rendered much more benefit to
however, I supported the Income-tax ; and I di so their country in that capacity - (Cheers and laughter)—and
onwhver,
the ground of the great benefits to be received as atoms it would not be with pain that he would see the occurrence
pensation for suffering that. tax. I said I thought it was of circumstances which would place them where he believed
they would shine with peculiar lustre, and to the great
liable to the objections of inequality, vexation; and fraud; benefit of their country.— (Hear.) If this were a just tax '
and I cannot deny that I think the tax still, in its nature, make it permanent—the Noble Lord's argument went to that ;
liable to these objections. I cannot see in what manner if it were not a just tax, adopt it only for so long a time as
these objections can be removed ; and lam afraid that those was absolutely necessary for the public service, and take
who think they can be removed, when they come to examine those precautions which would enable them to provide some
the question of imposing !I lees tax on professional men, and more just tax, better suited to the public exigencies.—
come to compare professional men with others who derive (Hear.) Let not the Noble Lord shift his ground ; he meant
only a life income on land; and again, when they place a to make the income-tax permanent, but he could not say it
reduced tax on one class and a higher tax on all who re- though he meant it.—(Cheers.)
ceive incomes from the funds, and have to consider what Mr. HUME thought there was no man who ever made a
justice requires towards the holders of the public funds, I motion in the House whose object had been more misrepre-
think they will find the difficulties o great that they will
not be able to get rid pf. that inequality. But when I said seated than his own. The Noble Lord and the Chancellor
that I was of that opinion, I stated at the same time that of the Exchequer must have been absent from the House
the only way for getting rid fivally of the income-tax was when he made his speech; the Noble Lord was most unfair
by the diminution of protection.
_(The Noble Lord here in attributing to him a course which he took special care
quoted a passage from his own speech on the income-tax in at the commencement to guard himself against. Both the
Noble Lord and the Chancellor of the Exchequer, and indeed
1845, which was, as nearly as we could catch it, as follows • he tax had described it as
—Be was confident
.that, 'if they wished to get rid of
• every one who had spoken of t ,
abominable, unequal, unjust, and in every way unworthy to
the income-tax they must take the mode of endeavouring be cntinued. Let the Noble Lord meet the wishes of
which
to improve the condition, end to increase the prosperity peopleoout of doors, and remove the inequalities of
of the empire, by opening up new markets and eaeryone tom lained. Let the tax be imposed for one year,
admitting large importationst and increasing the ex- and an inquirypmeanwhile instituted, from whichestalivy.mi,fbhet
ports, thereby oreaing , an additional demand for judge wbether it could not be made less. oppr i e
in the consu •
labour, and an augmentatione.
favour mption of articles Noble Lord had submitted his naval,and • 1-
military, misce
which they restrict dby imaginary and protection. and even the Ceylon in-
restricted
estimates to a Committee,
Then they might look at the end ofthree or five years to Governor. He
quirt', which was directed against an absent
romany
the abolition of tee property and income-tax ; but if the side of the
c_iMrrY' Hume) would accept support f
question lay between the continuance of the income-tax and •his duty.
quessatisfied that he had done
of the s sten' of mono o' h louse
the continuance Y , , la Y, e should declare The divided,when there appeared
Committee then
for the income-tax and the ,final diminution of protection 244
For Mr. home's amendment ..
and monopoly,) The Noble Lord then proceeded:—Such 230
was the statement made by me in 1845, not concealing the Against it • ._ ..... ..
..... - . Ministers
'rave objections to the income-tax, but thinking that we Majority against - d wit
f the numbers was receive wi
f'should obtain more than an equivalent for the country by The daft'announce
eb
the Opposition. The blank in the
diminishing and reducing the taxes which pressed upon in- vociferous cheeri
with the words year ;" the Chair-
dustry. Sir, it is impossible to conceal from one's self that Bill was then filled ups
-c and the House resumed.
to-night, as on all other nights when we have had similar man reported vaegrea
ELL 'gave notice that he should propose to
questions, the view of those who are to appear in opposition to Lord J. RUaS
Committee on the Property-tax Bill on Men-
us, is that by making the income-tax less likely to subsist they go on with the
the Ecclesiastical Titles Bill till the lion-
may have a return to protective duties. And, be i; observed, clay, and postpone(Hear, hear.)
that whereas in former tithes, when protective duties had day Niel ng
iBOUCHERE said that, with regard to the Steam
tto be imposed, but only to be maintained according to an Mr. L.
no Bill, which was ordered to be committed that
ancient
system of policy, the arguments which were derived
• Navigation . .
from national independence, from the necess' ity of the food dbayn, he had no objection to assent to the wish which had
derived fro expressed, that it should be referred to a Select Corn-
of the people
beingt
depend' form your own soil, in order
Meiettee. He thought it desirable that the Committee should
that you might no .
the necessary articles of
ot be numerous—seven or five Members— and he pr
subsistence on foreign nations—those and similar argu- n
nominate the Committee on Monday.
,
meats were the chief objections urged against a change , to
PRACTICE AND PROCESS (IRELAND) BILL.
of your policy ; but now we_ leave almost the naked state-
On the next order of the day being read from the chair,
meat that for the purpose of doingf justice to one interest in
me SADLEII4 said that if it was proposed to proceed with
this country—to enable the
enable
to continue their occu-
pation with a profit, and to _ them to pay their rent
on the information which was a iked for before Easter respecting
the landlord, it is necessary to have proteceive duties
Sir these
corm—, Hear, hear.) No!. , ese duties, whateveri the officers of the Court of Exchequer, whom it
was proposed
as 1 to compensate, he should move that the Chairman should
they may be, involve one of . two consequences: eitori
f dere—nee , report progress.
the Right lion. Gentleman the Member for Stain,
mode- , The AT lORNEY-GENERAL for IRELAND said that
argued in this House, in a very able el
-)eech—ei'llendain that ' this Bill was introduced in order to remove doubt& which
rate fixed daty will not raise the price of corn, an ,
..,‘
and will
case the farmers will be disappointed, sto w h
•11 protest exisd a ether art Act passed last session at the ii-,
against your ineffectual legislation, and will ask for further stance of the Master of the Rolls for England, for regulating
and more efficient protection ; or, on the other loan , i
d 't will ', the general process and practice of the Irish courts extended
Pay raise the price of corn, and enable the farmer to ; I for
a larger Ito thO 4154 L4checitter Chamber, the ccart 9, AO

Majority
The Committee was then nominated as follows :—Mr.
Trelawny, Sir Robert Harry Inglis, Mr. Henley, Sir David
Dundas, Mr. Bright, Mr. Pole Carew, Mr. Alexander Hope,
Mr. Horsman, Sir Charles Douglas, Mr. Hardcastle, Mr.
John Ellis, Sir John Duckworth, Mr. John George Smyth,
Mr. Littleton and Mr. Hey worth.
The other orders were disposed of and the House ad-
journed at Half-past One o'clock.

(From the Times.)
We have received by express courier from Marseilles
our dispatches in anticipation of the Overland Mail from
India which left Bombay on the 3d ult.
- The following is our correspondent's summary for the
month of March:—
".British India is generally tranquil, and the improving
state of its public finances is at present the prevailing topic of
the Indian press.
" Lord Dalhousie arrived at Peshawaur on the Bth of
March and left it on the 17th. He was expected at Yizera-
bad by the sth or 6th of April, and would thence make the
best Of his way to Simla. Robbery and murder are still
rife at Peshawur. Captain Grantham died of his wounds on
the 15th of March. On the same day one of Lumsden's
Guide Corps was shot in the Kohat pass, and on the 16th a
Resildar in attendance on Captain Daly (who was at the
time proceeding through the pass towards Peshawur to see
the. Governor-General), happening to go off the road, was
also shot dead.
_ " Most summary measures are, however, being adopted
for the repression of these outrages. Mr. J. Lawrence is in-
vested with full authority, as a single member of the board ,
to pass sentence on them, and hangings take place almost
daily ; four men were executed on the morning of the 15th ,
one of them the fellow who stole the trumpet from the
artillery lines and fired on the Guide Corps sentry. It is,
moreover, proposed to transport summarily to the lower pro-
vinces any border tribes' men caught trespassing on our
altupdresd.
atDioinarstiaanldlamw
uisrdteors bneewdescel apr
to. , The negotiations with D
mentioned in my last, are arntamaroeunptutunantil
etnhde
re
de
vAalll3ae h owhich I
host mmed.,
said to be progressing most fa-
y. o
,u. rTa bnley' hill tribes on the Indus frontier, south of Peshawur,
are also disposed to be troublesome; the Vizieries having
been hovering about the Bunnoo frontier for some time, ready
to pounce down en any unproLected part of the line, at last
assembled in force at the foot of the Goomuttee Pass on the
Walsh, Commandant at
with three of
a squadron of the
Bl4ntnhnoefe
, March,
teek otnnev, which Captain
against
thm
cl2d2ooPup
the approach
Hammond's guns, n3jliauceb,
Cavalry (under' Lieutenant Browne); the 2d' Pun-
jnaebrelenafanndtriyee(tutudnedrerLLieinituetenannant
tEcckefze.l),Oann
of this force the enemy showed no inclination to await its
attack on the plain, but took to the hills on each side of the
head of the pass, occupying them in groups, which were
soon dispersed by the excellent pr=ics of the artillery. As
the force was, however, insufficienr to follow up the advan-
tage thus gaihed, it was determined to withdraw it; which
was accordingly effected, the movement being masked by
three or four companies being thrown out as skirmishers, to
keep the enemy from making a rush at the guns.
" A gaol emeute occurred at Deva Ghazee Khan on the 2d
of March, at midnight. Two prisoners took advantage of
the inner door of the gaol being momentarily opened to
make a rush past the sentry into the outer enclosure of
the building, and then threw themselves over the enciente
wall, the drop of which (being 25 feet) had been considered
sufficient to preclude the possibility of such an attempt; 15
were shot dead by the guard and one wounded in the at-
tempt ; some were recaptured, and parties of horse have
been sent out in all directions after the 26 who got clear off.
A court of inquiry was investigating the matter.
" Military preparations are quietly •
going on at Peshawur ;
a force has been ordered to hold itself in readiness to m eve
on the frontier at a moment's warning, provisions for two
months and the requisite carriages are being collected ; the
destination of the force is unknown, but it is rumoured that
the Governor-General has offered the Vizieries a certain
ultimatum, which it they refuse, coercive measures will be
immediately taken. Whatever measures be adopted, there
is no doubt but that they will have been careful, considered,
and will be effectively carried out. We are now much better
acquainted with the various passes, and with the general
nature of the hill country, than we were at the time of the
former expedition.
" The Indus frontier of the Punjaub has been so well de-
scribed in Major Edwardes' late work that any comment on
its present state is almost superfluous. It cannot be expected
that the hill tribes of the Dejerat border should discontinue
their troublesome predatory habits all at once, and it is as
much as could be hoped for to be assured that they are held
much more in check than they ever were in Rungeet Singh's
time; and that the revenue of Djeerat is now much more
fully collected, and that life and property in that province
are now more secure than they ever were under any
former Government.
" No territorial acquisition to our Indian empire has ever
been so carefully settled and organised as the Punjaub, and
already no province of the empire is more prosperous ;
though more lightly taxed than any other district in India.
it already yields a considerable surplus revenue (325,5001.
exclusive of the sums realized for confiscated property),
which will be much increased when the extensive canals fur
irrigation, now in progress, are completed. The employment
to native workmen afforded by these works and by the new
stations, which are everywhere progressing, has caused a de-
mand for labour in excess of the supply, and thus removed
one of the principle sources of danger to which every newly
acquired country in which large establishments have been
disbanded is at first exposed. An order has appeared for re-
gulating the enlistment of the Seikhs in our Indian regi-
ments; not more than 200 Punjaubees are to be admitted
into any single regiment, of which not more than 100 are
to be Seikhs, who are to be distributed equally among the
different companies. No Seikhs are required to cut either
their beards or hair, and every means are to be adopted
to preserve intact their distinctive national and social cha-
racteristics.
" The improvement of the navigation of the Indus (and
incidentally that of the port of Kurrachee) is now the great
desideratum for the Punjaub. The little steam-tugs now on
that river are altogether incapable of developing the com-
mercial capabilities of the stream, and it is most desirable
that river steam-boats of a larger size, and on the American
model which has recently been adopted with so much ad-
vantage in the Ganges, should be substituted for those at
present in use. It is stated that a depot is about to be
formed at Kurrachee for the reception of military stores from
England destined for service in the Punjaub.
" The trial of Jolts Persand still stood for the 27th of
March, but it was nut quite certain that all the witnesses
would be able to be present by that date. Mr. Wyllyt,
C.S., is to conduct the case on the part of Government. Mr.
Tandy has been elected secretary._ to sie North-West Bank,
and it has transpired that Sir W. Gomm has addressed a
letter to Captains Blois and Watt, exempting them from
the imputation of fraudulent motives. but saying that their
laxity in monetary dealings was mos', unpardonable, and he
advises Captain Watt to pay back the sum received from
Captain Barlow. The Nawab of Bahawulpore •s now on a
pilgrimage to the Mahometan shrines of Delhi and the North
West Provinces, and Sir W. Gomm was expected at Umbella
by the 31st of March.
"It is said that the Court of Directors have left the
ques ion of the augmentation of the Bengal artillery and
engineers entirely in the hands of the Governor-General.
Major Baker, of the latter corps, succeeds Major Kenedy as
Consulting Railway Engineer to Government.
" There is nothing new from the .Nizam's territory ; he
still continues his own Alinister. The naval Commander-in-
Chief, with her Majesty's ship Hastings, 74 ; Fox, 42 ; and
Sphynx steam-sloop, were, by the latest accounts, at anchor
in the Madras roads.
“ The committee appointed by Government to report on
the frauds in the collection or the Bombay municipal taxes,
while under the superintendence of the police department, is
now sitting; as is also another committee, appointed to in-
quire into the existing system of public works, both as re-
gards superintendence and execution. The prospectus of
the Baroda 'Railway is is ued, and a wooden tramway, 4i
miles in length, for the purpose of facilitating the shilmnt,enat
of cotton, has just been completed at Dholera, in Goozerit.. a
the cost of a few native merchants, at an expense of 1,4001
mile . _

COMMERCIAL INTELLIGENCE.
BOMBAY MAR iiiEDTOSF,
Evil:IF:GI:. INCLUSIVE.
ARML 2.
WEPNEtssnAThere is no stir in moue-
',ROl& THE ILTOHMOBFAI,A,RCH TO THE
y 2
The Money and Share Mamrkaerk,-
unless we went into the
tary matters that calls for rreary
tightness, which has shown
bazaar and noticed a tempo
generally appears dull, and
days,rrincipally amongst Marwarrie
-a start at all this season, it would
should it intend taking
about it, as the monsoon is not now very
inththealasdrat
drug., Business
itself
dealersre-
quire ftoor
be
quick
curities are inactive at the following quota-
tions Loan, Mrs. ; Sicca Fives, 101 to 102 ;
8 Company's Fives, 98 ; Company's Fours,
Sicca Fours
ttajorndai:stalutr.ansfe6;
Bank of Bombay Shares, 13 per cent. premium;
082rietont8al;
Bank shares, 17 per cent. discount ; Commercial
Bank Shares, 16 per cent. discount; Agra Bank Shares, 8
per cent. discount.
- As was anticipated, the past fortnight has witnessed a re-
vival of business in the import market, though scarcely to
the extent which was looked for. In exports there has
been very little doing, and the prices of cotton have since
the receipt of last English advices further declined. In
other articles we do not hear of any transactions.
Cotton Pima Goods-For some few descriptions of gray
goods an improvement in price has taken place during the
fortnight, and generally the market for most qualities ap-
pears to be looking up, owing: to the diminution of stocks,
and the smallness of the shipments known to be on the way
out. Business has, as before, been confined almost exclu-
sively to gray goods, and the only descriptions of.blea b a
fabrics which have been inquired for were median
twill, and shirtings above 66 reed. lies, have been
Gray Goods-Madapollams, of coarse n
-uall tent of 11,200
Jacconets
in good demand, and have sold to the
and 2r• pieces, at prices ranging between 2r.
piece. Shirting have also been
56 reed 40-inch qualities, for which soon
have been obtained. There has also
45-inch CO-reed, and above make _r.
to 15,700 pieces, at from 3r.
Jacconets-Sales, 25,600 pisea 2 4a. 6p. per
rwand, particularly
in Tri-e wl2 a t better prices
b seme inquiry for
The sales in all amount
to I%r.
atIll; .108.
tlp. per piece.
price has been obtained.
been taken for the Per-
On these goods also an advance, 3,040 pieces, at 83ir. to
In domestics the sales amount
races more favourable to Ste
ketg, at P
sian and Arabian mar
12V. per piece.
sellers. Of long and T cloths stocks
purchasers than to the,
d And for the former an advanced
are now much red uc•s
d The sales have bees 2,000 pieces,
These have chiefly
price has been obtain-piece. .
at 4r. 13s. to 51,4 fr• Per
~.a goods remain in the same depressed con-
Fancy and '''',;:iy noticed, and the only sales reported are
dition as of bleached mulls, 40 >t 20, 2r. 51/2a. ; '4OO ditto,
400 Piece- iOO bleached lappets, 30 X 10, at 2r. lla.; 600
at 23A r. ;an, 38 X 10, at Ir. sa. ; and 1,746 Turkey red
str:ps PI
t 2r. 514 a. per piece. For most other descriptions
scaf* a" . • has
rno inquiry been made.
little ° The rates of the day are-To London, 21. 58. to
Freights- and to
21. 128. 6d. ; to Liverpool, 21. 10s. to 31. per ton;
ort as
iiiiis, 114 r. to 12r. per candy. For the former p_
in a
high as 31.25. 6d. has during the fortnight been paid
first-class going ship, and to China 13r.
months' sight,
Exchanges-For first class credit bills, Si
(it had7ceome days since
the rate is now 2s. Md. to 2s. %d. "....s the nominal rate
fallen to Is. 11%d.), and for document bru
sight, Is. 11%d. ;
is 2s. 'Ad. The hanks' rates araw
six months'ontbs' sight, Is. 11d.•
three months' sight, Is. 1114 u. , two:
day's sight, Is. 103 a.
one months' sight, Is. 10-Ad. ; and °
and
sight Or. per 100 r., and on
On Calcutta we quote 60 days' g
China 216 r. to 217 r. per 160 doll s.

CALCUTTA.
(From Campbell and Burgett's Overland Price Current,
March 24.)
The Bombay
mail express letters, with London dates to
the 7th of Februa reached us on the 16th instant, and the
general dispatch the next day, with market reports showing
a continued dull tendency of
most East India produce, with
a further slight depression in its value. Shortly after the
departure oft f
last mail, our export market developed in-
creased spirit for more extended general business, in a great
leading staples still continuing moderate, the
measure encouraged. by the downward turn of exchange
do. i'd not assume the importance commonsurate
uatcliPt:ii°iinnesschnation evinced. This tendency has, under a
btwruilttshss
similar influence of a further depression in exerlange, con-
tinued since the arrival of the abovenamed,berne. advices, a
free current of activity being impeded by the intervention
beta
of
three native holidays during the put weet. Indigo

It L;Z:
731
170 470
405,
"•.tl2O X