The Sun.
London, England, 1858-02-23 00:00:00

TBE INCOME TAX.

Last evening a public meeting (at the instance
of the Property and Income Tax Association) was
held at the Loudon Tavern, for the purpose of con-
sidering the best means of obtaining a more equi-
table adjustment of the taxes on trades and pro-
ftssions. Mr. Alderman Wire was in the chair.

In commencing the business of the meeting the
CHAIRMAN observed that the inconvenience of the
income tax was its inequality and the iniquitous
mode of its levy. He counselled agitation until
both these evils were removed by some very mate-
rial alteration in the management, of this tax, or
even until its abolition. He was quite aware that
taxes must be levied, and must be borne, for the
purpose of carrying on the great business of the
c -,untry, but what he and those associated with
him wished was that all taxes, and especially the
income tax, should be more equally and more
justly laid. The chairman proceeded to argue the
matter of the inequality and injustice of the tax,
especially as it affected the various classes of society
who were compulsorily brought under its influence
—more particularly those who had to earn their
' bread by the sweat of their brow. The inquisito-
rial nature of the tax was warmly dwelt upon by
the speaker, who denounced the prying into the
papers of business people in order to enable the
inquisitors to arrive at the conclusions necessary
to required, ends. The question of false returns
being mide, which could not but tend to keep
up a system of false credit, also came in for a large
share of the speaker's condemnation. His final
remarks were to the effect that whatever Govern-
ment might come into office, this one thing was
certain, that the right men must be found for the
right places, and that their duty must be taught,
and would be found in the doctrine of retrench-
ment in the expenditure of the public exchequer.
Mr. ELT (Islington) moved are solution—" Tuat
the present mode of charging one uniform sate on
all classes of income without reference to the source
whence those incomes are derived—whether per-
manent or precarious—is manifestly unjust, and
tends to create a general and systematic evasion,
and has been submitted to for the last 16 years
under the repeated plea that the tax was only re-
quired for temporary purposes ; and that this meet-
ing is of opinion that in any future alteration in
the existing law, the charge on incomes derived
from trades and professions (schedules D and E)
should not exceed one-half the charge on funded
and realised property."
Mr. J. HIGHAM (one of the honorary secretaries)
seconded the resolution.
Mr. GANNON, who stated that he was, and bad
been, a tradesman of 32 years in the neighbour-
hood of the Strand, deemed himself entitled to'
hearing. He moved an amendment to the effect
that all persons whose incomes did not amount to
1501. a-year should be altogether excluded from
the operation of the income-tax.
The amendment was lost, 20 hands only being
held up for it in a large meeting, and the resolution
carried.
Mr. RICHA.RDSON then moved that the follow-
ing petition be adopted (which was seconded and
carried) :—" That, whereas, by
laws in
-t
fOrce relative to the income tax, it is prowdnow e
the said tax shall be reduced to sd. in the pound
on and after the sth day of April next, and expire
on the sth day of Aptil, 1860 ; and that in the
opinion of your petitioners the present mode of
charging one uniform rate on all classes of income,
without reference to the source wbenee those in-
comes are derived, whether permanent or precari-
ous, is manifestly unjust,
.and tends to create a
general and systematic evhasion. Your petitioners
therefore humbly pray tat should your honour-
able house feel it desirable to increase the amount
chargeable under the present law, due provision
may be made in any future enactment that ti.e
amount payable under schedules D and E of the
acts now in force shall not exceed one-half the
amount.payable on property under schedules A,
B, and C."
A vote of thanks to the chairman accompanied
by three cheers, concluded the business of the
evening.

- LIST OF SCOTTISH COMPANIES' PRICES.
Dividend Amount
Name of Company. per of Paid. 1 Price.
Annum. Share.
------- - -
£ s. d. X s. d.
Sank of Scotland .. -7/. per cent. 100 C 0 100 0 0 183105
British Linen Company 81. per cent. 100 0 0 100 0 0 209/Os
Caledonian Bank .. •• . Si. per cent 10 0 0 210 031 12s
City of Glasgow Bank Si. per cent. 10 0 0 10 0 0 81 Os
Clydesdale Bank •• - 5 ,i'l 1. p cent. 20 0 0 10 0 0 12/ 5s
C rnmercial Dank •• 41/. per cent. 500 0 0 100 0 0 2111 0
Eastern Bank.. •• - - 61. per cent. 25 0 0 10 0 0 9/ les
Edinb. & Glasgow.. - 3KI. p cent. 5 0 5 0 0 31 133
National Bank ...... 6% per cent. 100 0 0' 100 0 0 170 Os
North of Scotland Bank 5/.per cent 20 0 0 210 0 5 5s
Royal Bank of S cat .. 5/. per cent. 100 0 0 100 0 0 1371 a
Union Bank of Scot. - 81. per cent. 100 0 0 50 0 0 751105,
Western Bank •• •• .... 7/. per cent. 50 0 0 50 0 0 - 1 0
Ullance Fire and Life.. BYe Lpr cent. 100 0 0 11 0 0 161 Os
British Guarantee - 41. per cent. 10 0 0 2 0 0 Il lls
Caledonian Fire Incur. tOi.per cent. 1110 0 0 10 0 0 251 Os
City of Glasgow Lite.. 61, per cent. 25 0 0 2 0 031 lOs
Co:onial Life .•••••... 5/. per cent. 50 0 0 3 0 071 72
Edinburgh Life Incur. 6/. nor cent. 100 0 0 15 0 0 26115 s
Eng. & Scot, Law Life 51.aer cent. 50 0 0 3 5 0 41 is
Life kssec. of Scotland 61. per cent. 40 0 0 3 0 061 15s
Nationa, Fire and Life 61. per cont. 10 0 0 1 4 0 'll9 8
North British Incur... 71. per cent. 200 0 0 20 0 0 36/ Os
Northern Assurance Co. 20 0 0 1 0 0 1/ 14s
Scottish Provincial .... - 50 0 0 2 0 02/15 s
Scottish Union Insrne. NI. pr cent. 20 0 0 1 0 011 123
Standard Life ...... - 51. per cent. 50 0 0 7 0 0 271 5s
GAS-LIGHT AN') COKE COMPANIEm.
Dividend Amount
Name of Company. per of Paid. Price.
Annum. Share.
--------
.0 s. d. £ a. d.
British, Provincial •... 71. per cent. 20 0 0 all 23
Brighton - -
City of London ... •• •• 21. per cent. 150 0 0 150 6 0 , 100
Equitable ...••.. •• .. 2/. 50 0 0 all -
European .... .•• •• .. 61. per cent. 23 0 0 - -
Great Central ........ 8/. per cent 10 0 0 - 10%
Imperial .. •• - ...... 10/. per cent. 50 0 0 - 78
Ditto Ne* - 50 0 0 12 10 G 26%
Ditto Debentures - Stock 100 0 0 -
Do. Continental IstCap. 31 ss. 50 0 0 42 15 0 50
Do. Do. ad Cap. 41. 150. 50 0 0 41 0 0 -
Do. Do. 3d Cap. 41. 105. 50 0 0 43 10 0 -
Do. Do. 4th Cap. 3!. SO 0 0 41 0 0 -
Independent -
teondov Parl. Preferen. o+. per cent. 25 0 0 - -
Phoenix .••
Ratcliff ..... -
Surreyunited Coooniiscurmaiers.... 10%
20
..
it pode rpeeernsth.
5100 00 00 all
-
--
.•
Wuesittmi, Newnste .... ..
••
rChartered 7 per cent.
50 0 0
10 0 0 -
Ditto,
10 0 0 all -
Western A •• • -
Ditto B • .....
MISCELLANEOUS.
--"''''"-"'4-----------Dl;idend Amount
Name of Company. per of Paid. Price.
Annum. Share.
- -------
Z s. d. Z s. d.
2500 00
00
2010 00
00
_-
Acadian Charcoal Iron •• 10 0 0 2 0 0 -
African Steam Ship .. • •
.. ..... 6'. per cent.
I,elper cent 50 0 0 - -
- '25 0 0 19 0 0 27%
Australten Trust. •• .• 81. pr cent. 100 0 00
25 0 0 -
11. lOs. 10 0 0 all
AAA.::itseeattirill'a I 'll.aeslnaa,kr tg
;lc. ul. .t.u•rl 2
- 10 0 0 en -
5/. per cent 50 0 0 40 0 0 130
14
ACA.
atntn Britishtiarat American a.
en i 1 I.e .oft y.n.a.311.Lei.1,4..id.:
SI. percent. 100 0 0 32 10 0 -
Do. 5 per cent Bondi 51. pet cent Stook 100 0 0 -
Ditto, 5 per cent bds 5/.per cent. Speck 100 0 0 -
Ditto, 6 per cent. .• 6/. oer cent. Stock 100 0 0 -
[ Ditto, 6p c. bds 1874 4, per cent. Stock 100 0 0 -
Ditto, 6p c. bds 1876 61. per cent Stock 100 0 0 -
Crystal Palace ..... 2/. per cent. 5 0 0 all -
• Ditto Preteren,e.... 71 pr. cent. 5 0 0 5 0 0 4i
Crys. Palace of France - 4 0 0 all -
1 City Navigation Bonds 33x/. per cent - - -
electric Telegraph .. 6/ per cent. Stock. 100 0 0 105
b Eng.BeAus. Cop. Smelt. • - 5 0 0 all 1%
1 Eng.&lris. nag. T. Co. - 50 0 0 all -
Equitable Reversionry 51per cent. 100 0 0 100 0 0 -
Date New ........ - 50 0 0 22 10 0 -
e Gen. Revers. & Invest. 51. p e and 1/. 100 0 0 00 I, 0 -
e Gen. I. Sc. Col. (Lim.) - 25 0 0 all -.
Gen.gteamNavh:ation 10/. per et. & 15 0 0 14 0 0 -
London Gen. Omnibus 121. per cent 4 0 0 all 31%
fluaeon's 8ay........ 5/, per cent. Stock Stock -
aungerford .......• .. 2S. ss. 100 0 0 all -
Lon. Ne. &Na. Mauso. - 10 0 0 all -
25
_0 0
1005
1 London Reversionary Cl, per cent. 15 0 0 all -
Mex. & S. American - 10 0 0 all
8-
Nat. Discount Comp • • -
per cent.oo 00 -4
N.S.W. Gov.sp.c. Deb. Si.
t Nor. Bri. Australasian 6d. 10 0 all 7‘)
North of Europe, Step. Si. per cent. 20 0 0 17 10 0 -
1 price's Patent Cand. Co - 21 0 0 all 201
e Peel River. Land &Min. - 50 0 all 214
Pen. & Oriental Steam 71. per cent 50 0 0 all 8
o Ditto New ..... •.. - 50 0 0 i 0 1 0 13!
D Reversionary- 1nt..60c. 114/. pr cect 100 0 0 ail -
Ditto New •• •- • ... 42e pr mat. too 0 0
20 0 0
65_
, Royal Mail Steam • - 11. p. share. 100 0 0 iC 0 0 1%
Scottish AuS.. Invest 151. per cent. 1 0 0 an
a eouthAustralian Land 71. per cent. ,25 0 0 all 38
Trust and Loan Comp. N.. pr cent. 20 0 0 5 o 0
IV
O yea Diemen's Land.. 100. 100 0 0 28 10 0
6 Per cent, Bonds .... 6 per cent. -- 1 72; • -