The Sun.
London, England, 1851-02-18 00:00:00

male the expenditure fur the future at 50,735,0001., and
hope to make a saving on general estimates of 978,9851,,
and .oa the naval expenditure of 776,0001. I
consequently see my way to an income of
59,154,900/., notwithstanding the remission of taxes
on bricks and other commodities, and may therefore cal-
cutete, I think safely, on a surplus of 2,521,0001. on the
sth of April. The Customs, I calculate, will produce
2,400,000/. There will be a further decrease this year;
owing to the passing of the Act last session, which did not
corns into full operation till the 10th of October, and
parties, no doubt, reserved their purchases till that
poriod.—(Hear, hear.) The probable extent of loss of
the fall year was estimated at about 500,000/, and the
experience of the year fully justified the estimate.
—(Hear, hear.) In the two quarters ending in Ja-
nuary, the amount of the stamp duties was 245,000/.
less than the corresponding period of former years, and
as far as the present quarter is concerned, I
believe there will be an equal falling off,
making 250,0001. for the half-year, and 500,000/. for the
entire year.—(Hear, hear.) Allowing for that reduction,
I take the estimate for the yield of the stamp duties at
6,310,0001.—(L1ear.) The taxes and the property-tax I
take at the same amount as laet year, namely taxes,
4,343,0001, property-tax, 5.3.30,000/. In the Post-office
there will be 10,000/ more this year, namely, 830,000/.
The Crown lands stand upon the same footing as last
year, though I think there will be some slight
reduction of expenditure. The Crown lands then
will yield 160,000/.; the navy receipts will be
262,0001. ; old stores are rather higher than
2ast year, namely, 480,0001. These items put to-
gother will make the gross income of the whole year
52,140,0001.—(Che5ni.) Sir, I now come to the
ehatges, and here it will probably afford the House
some satisfaction, if I state that there will t.O a
decrease in the charge for debt, arising out of a very
large purehace of terminable annuities that has already
been effected.—(Hear, hear.) There will also be some
reduction in the charge of the consolidated
fund. The charge on the funded debt,
including annuities, will be 27,688,000,
and the charge for interest on Exchequer-bills 404,0001.,
making together 28,092,000/.—(Hear, bear.) The charge
on the consolidated fund will be 2,600,000/., making the.
gross charge on the funded debt and consolidated fund,
taken together, 30,692,000/.—(Hear.) The charge for the
army, including the commissariat department, I take at
6,593,9451; for the navy, at 6,537,0551.; and for the
ordnance, at 2,424,1711.—(11ear, hear.) There is here
some reduction of expenditure, but there will be no
redaction of force.—(Hear, hear.) The Government
feel that in the present unsettled state of matters
on the continent of Europe, it would be incon-
sistent with the best interests of the country to reduce
tha amount of the existing forces.—(Cheers.) I am
aware that dee whole world appears to be in a compara-
tive state of pease, but it must nevertheless
be ranee-bared that only a few years have
elapsed since we saw some millions of men under arms
in the very centre of Europe.—(deer, hear.) lam free
to confess that of , late years nothing has occurred to
disturb the peace of this country, and I have
certainly never been alarmed on that account
at the circumstances that were passing around
us; but there is the widest difference between unneces-
sary alarm and an absurd economy.—(Hear, hear.)
Those who are best acquainted with these matters know
that a great many of our arsenals are not quite in an effi-
cient state of defence, and therefore any reduction of our
forces would involve a responsibility which we are not
prepared to encounter.—(Hear, hoar.) For my part
my conviction is this, however strong, or however just
and general the feeling for economy and a
reduction of expenditure may be in this House,
it will still be the duty of British Legisla-
tors never to leave their country in an unprotected
condition.—(Cheers.) Sir, last year, after certain reduc-
tions had been made, the estimate for both services was
20,012,000/. It will probably this year be 19,555,000/.
Therefore, deducting the vote taken last year for naval
excess, and the absolute reduction in the expenditure of
this year under the three heads of naval, military, and
ordnance services, there will be 246,000/, or nearly a
quarter of a million, and the reduction would have
been move but for two causes, some of which were
of a permanent and others of a temporary
nature. Ron. Gentlemen will remember that the First
Lord of the Admiralty announced last year that it was
thought advisable, for the improvement of the condition
of the sailor, that the allowance of grog should be
stopped and money compensation given. It was found,
also, that the provision allowed to the navy was
Dot. so great as in other branches of the naval service,
and it was thought desirable to improve the condition
of the sailer in those respects. Gentleman who sat on
the Committee on army estimates will also remember
that a question was raised as to the rations allowed to
the soleier on service abroad, anti that alterations were
recommended. The additional charge which arises in
this respect is 60,0001. These two items, then, have
occasioned an increased expenditure of 140,0001. There
are some small additional charges, which are only of a
temporary nature, arising from annuities, from the fact
that this year includes one day's more pay, and also
from annuities chargeable on certain lands belonging to
the Ordnance in Ireland. The Miscellaneous Estimates
voted last year amounted to 4,650,0001. 01 course it is
impossible for ate to say what the amount of the Miscel-
laneous Estimates will be this year. There will be this
year, also, charges of a temporary nature which I
propane to take from these estimates, which they
have not borne in former years. I propose
that the expense of taking the census, which in former
years was borne by the local rates, should be included
in the estimates, that being an object of public interest
which it is quite fair and reasonable should be paid out
of the public Exchequer.—(Hear.) I believe the expeure
will be 110,0004 1 proposq, then, in round „numbers,
leaving room for any ulteratiens which may be
made in the. course of the year, to take the
cellaneous estimates at 4,000,0001. for the year.
estim ete the probable expenditure then at
50,247,1711., and taking the income to be as
I have already stated, there will be an estimated surplus
of 1,892,000/.—(Elear, hear.) The first point which I
rill tiring ,to the consideration of the Committee is to
bow how these estimates hear on the main
question which I have to submit to it, viz., the
renewal of the income-tax.—(Heer.) The amount of
the income-tax may be taken in round numbers at
5,4.90,000/. If the Committee refuse the vote which I
am about to submit to them, there will be a falling off
in the- revenue of 5,500,000/., that sum including
100,0001., the amount of the reduction under the
Stacy Act of last session. Now, deducting that from
the probable amount of surplus revenue, which I have
Stated at 1,890,000/., there will be a deficiency to the
extent of 3,610,000/. In the ensuing year it would not
be quite so much, because halt of the income-
tax for the ensraing year is yet receivable, viz.,
2,700,000/., therefore, in the ensuing year, the
deficiency would amount to 910,0001.; but in the subse-
quent year, and every year thereafter, supposing there
be no improvement in the revenue, and no reductions
macbr, the excess of expenditure over revenue would bo
what I have stated in round numbers, 3,600,0001.
When Sir Robes: Peel proposed the renewal
of the income-fax in 1842, the house would
remember, he proposed it on the assumption that
there would he a deficit for the year of 2,100,000/. Now
if tlsat was a stiflieient ground for re-impning it in 1842.
surely the fact he had stated wool:i be con-
sidered more so as regarded the present year.
In that year I opposed the imposition of the income tax,
for I aheuget then, as I think now, that the grounds upon
which it was asked were not sufficient. But I stated at
the same time, that if it were to be applied to
reducing the duties upon timber, corn, and sugar, then
I should have been prepared to support it. I will say,
however, that the use which Sir R. Peel made of the
income-tax when he got it fully satisfied him in asking
for it. In the years 18-15 and 1848, I supported the re-
newal of it, and now entertain the same opinion as I did
then, and wishing to carry out that course of commercial
policy, and from which flee country has benefited so
much, I again propose the renewal of it for a limited
period. The duties on timber, corn, and sugar having been
reduced, to the greet benefit of all the consumers in this
country, the opinion which I have always entertained
fully justifies me in proposing their re-imposition. If the
House, however, is not prepared to adopt this
coupe, let me suggest to them what must be the
eohsequencr; there must either be a deficiency
in the revenue or there must be a reduction in the
expenditure to that amount; and I do not believe that
any person who has looked into these matters
can entertain the opinion that out of an ex-
penditure of fifteen millions it is possible to effect
a reduction of .3i millions. If this be not so,
it will b© necessary to impose new taxes to
that amount, sad I ask if the present disposition
of the country is at all favourable to the imposition
of new tares? With the common concurrence
of the House of Commons we have been repealing and
reducing taxes wl4h pressed heavily upon the industry
or the consuming powers of the country.—
(Rear, hear.) I do not believe that it will
be possible to re-impose those taxes, but, on
statute book
I believe that many still remain on the hook which it would be desirable to reduce,
which either in their amount or in their mode of levy-
jug,n
this.
are far
Fore objectionable, oppressive, and unjust
tha
repealed,
wivaLla en
du those taxes have been reduced or
ties upon raw materials as well as the
duties which press
taken off, wheal theuo manufactures have been
have been so reduced dutieson
imports and excise
that the consumer can
no longer be said to he hardly pressboed upon, then the
question will arise, whether itbetter to relieve
the consumer atilt further, or to take off a portion of
the hurden upon property. But until that i% -obtained, and
we have carried out to the full our new system
neitherrt this nor
of commercial policy, I hope that
ethiisse that tax
another _House of Commons will evetro
country.
advisable which has been so beneficial
I do net think it will be
I should at present go into the details
t
of my proposal, a further opportunity will
be afforded for that. I have remon-
strances enough against various portion% of
the income-tax, suggesting tho reduction of Sche-
dule A, the abolition of Schednid B, the injustice
of Schedule 1), and I am perfectly ready to admit that
exceedingly good arguments may be advanced by
various interests against all except Schedule C. But,
after all, I have come to the conclusion that, under all
circumstances the fairest and most just mode is that of
placing hne uniform rate upon all descriptions of income.
A question may be Seised also upon the mode of levying
the tax under Schedule B but on a future
occasion I shall be ready, to discuss that
question as sully
It can be discussed.
But the time will arise for thee f
diseussion of these ques-
tions when the discussion the
Il income-tax comes pro-
perly before the ouse.—(Re ar hear.) I think,
therefore, that the same course ought to be
adopted in the present
year wfith respect to
that tax that was adopted on
I have only one further observation toormer occasions'
make with re-
spect to the ineozne.tax, and that,-
is,
.that Z propose