The Sun.
London, England, 1857-01-17 00:00:00

LINDON, SATURDAY, JANUARY 17, 18n

Peroration.

Sir EDWARD BULWER LYTTON'S magnificent
oration on Thursday afternoon, the 15th of
January, 1857, must have considerably more
than realised the expectations of those who
assembled in the C 31311111011 Hall at Glasgow to
'witness, upon that, most interesting occasion, the
installation of the Great Poet-Novelist as Lord
Rector of the University. It is reprinted else-
where in our impression of this evening, as nearly i
as possible word for word, as it fell from the lips
of the living chrysostom of English literature. Our
earnestly-avowed commendation of this noble ha-
rangue may consequently be tested readily enough
by whomsoever lists, simply by reference to the
speech itself, reprinted, as we have said, in another
portion of the self-same broadsheet containing this
brief but genial tribute of most sincere and unaf-
fected admiration. Sir EDWARD'S inaugural Ad-
dress on Thursday, as Rector of the University of
Glasgow, may be regarded at once, we believe, in
all essential respects, as altogether worthy of com-
parison with the very memorable inaugural Ad-
dress delivered by him, two or three
years ago, as President of the Associated So-
cieties of the University cf Edinburgh. And
that everybody remembers as a masterpiece of
oratory, replete with all the charms of rhetoric
and all the blandishments of refined taste, with
all the graces of a cultivated scholarship and of
an affluent and picturesque imagination. It will
not be difficult, we conceive, to recognise kindred
beauties here, in this later oration, before the as3em-
bled Students and Professors of the Glasgow Uni-
versity. In it Sir E. LYTTON most gracefully took
occasion to pronounce an impassioned panegyric
upon the bygone genius of Scotland—eulogising
in an especial manner that virile philosophy
which supplanted the " varnished ignorance "
of an age of cynical materialism and
articulating an encomium, tender and heart-
born as the language of love, upon the genius
of SCOTT, whose apparition BULWER described as
thrusting back into dusty shelves " the verse with.
out soul and the prose without muscle," constituting
for the most part the literature of the preceding
generation. Admirable was the praise awarded
to ADAM SMITS as having, in his great work en
the " Wealth of Nations," permanently codified
the laws for the regulation of cammonwealths,
laws "which PLATO had obscured and even ARIS-
TOTLE had left undefined !" Perfectly noble in
sentiment was the feeling with which Sir EDWARD,
in the exordium of his harangue, remarking in
rheifseraeundcietotryo the youth of the student-portion of
—afterhavingconfeased to the diffidence awakened
kb
otwhlee
dpgreed c
s eni
;ercizinsct debetur puero reverentie,
ofs of
theirscien
science
a Professor,nd eru d
erudition
ihoons
"—ob-
served--" -
served—" I am intimidated by a sense of the
reverence which is due to the young." Exquisite
was his scornful reprehension before those youth-
ful students of whatever disfigures as licentious
the prevailing chastity of Classic literature,
observing that these were passages,
episodically
introduced, "from which I am sure that you
turn with the quick instinct of masculine purity
yoga take from, y, lir Scottish. homes." Every now
and then, we may be sure, BULWER proved him-
self BULWER, during *the course of this varied
dratlon, beyond the possibility of misapprehension.

As where, in reference 3to the social system during into
the epoch of Greek etomination, he observed that ( )n t
then " the life of st ady and the life of action were f are
so close to each 0r,1,,er that the roar of the Agora
shook the Piatain -trees in the gardens of the

Academe." Or a gain, where he spoke of the
more heroic intent ives to ambition derivable from
the Classic Days,, as coming gloriously before our
eyes in youth " radiant with the loveliness of
Athens, or stab Ily with the majesty of Rome."
BULWER alone, kowever, no other than BIILWER
(remembering wi en we speak thus the whcle of
his many gifted c ontemporaries) could have pro-
nounced an orat-ion such as this, an oration essen-
tially his from beginning to end, evidencing
abundantly throtaghout the elegant adroitness of
the accomplished scholiast, the sensibility of the
poet, and the b.rt of the rhetorician, from the
almost diffident ,and eminently graceful Exordium,

;o the close of the inspiriting and impressive

The Council .of the Liverpool Financial Reform
Association hal-e fully redeemed their pledge by
publishing afi :al scheme for the benefit of the
Chancellor of the Exchequer. As a matter of
course, this lira excited the wrath of the Times,
and a sneering article, trying to turn the project
into ridicule, has been the result. The Council
will not, however, be discouraged by the bolts of
the Thunderer; They can bear with equanimity
the ponderowi attempts at wit in which it is
pleased to incbalge. They are contented to dis-
charge the im p ortant duties they have undertaken,
and to explain the enormous evils of the present
system, and to point out an efficient substitute
by which sufficient moans may be raised for the
liquidation of the national liabilities, and the
maintenance the national establishments.

Their scheun) is very simple. It consists in the
entire abolitiou of indirect taxation, and the sub-
stitution of an equitable system of direct taxation
fairly levied o a property and income. In many
respects it rerembles The Sum Budget, which ap-
peared some i veeks since. The chief difference is,
that for a tin-ke -we retained for the present some
items by whi( a half the amount required by the
Exchequer could be raised ; while the Liverpool
Asscciation would forthwith abolish the whole of
these onerous and impolitic imposts. Our views
in this respect completely coincide, for we always
intended, as soon as the Property Tax had been
thoroughly 4a3sted, and its proceeds ascertained,
to gradually re duce and ultimately abolish all, or
almost all, other sources of revenue. We only
provided for the state of transition, striking off
the most vexatious impost; and reducing those
still retained, until they iu like manner could be
abandoned Trith perfect safety to the national
honour.

We feel a'd the objections to indirect taxation
so clearly an.d forcibly urged by the Association.
Many years since we placed them before the pub-
lic, and we= have never for a single moment
wavered an'l hesitated in the course which leads
to the perfoct freedom of trade and unrestricted
competition in its most extensive signification.
We then explained that tha amount levied fell
exclusively on the consumer, and that at least 50
per cent, was extracted from his pocket on account
of the charge beyond the amount realised by the
Exchequer. This violates the first principle of
finance, but it was adopted with the view of de-
ceiving the people, by not allowing them to per-
ceive the full amount of their contributions. This
piece of statecraft is no longer necessary. We
are not children to be deluded into doing what
is right, to have our physic disguised before it. is
administered. We know what the national
honour and security require at our hands, and

we are prepared to respond to the exigency. But

we wish to do so with our eyes open, and firmly
and manfully to meet the disagreeable necessity.

There is another point in which we differ from
the Association—we do so respectfully, because
we are convinced of their integrity of purpose and
anxious desire to promote the welfare and pros-
perity of the nation. We would have a Property
Tax "pure and simple." Let industry go free, but
let there be a tax for property, however trifling.
The man who possesses means should not expect
to I)ve as a drone at the expense of the bees of
the stcial hive. As we have already explained
it will confer many important advantages over
his penniless competitors ; and he can well afford
to pay the amount, when his savings on account
of the indirect taxation are taken into account.

The Association suggests that the duty should
be levied on all property, whether productive or
unproductive, according to its capitalised or mar-
ketable value. But it goes further, by proposing
to charge " all inc'4naes and earnings above
pauperism." This we believe to be unwise and
impolitic. It would preserve the inquisitorial
scrutiny into private affairs, the most objectionable
feature of the present system. We need not say
that sueh as it is it would be far preferable to the

present system. But if, reviewing the whole
fiscal scheme, we should strive to render it as per-
fect as possible, let industry then go free.
If it thrives, the parties will speedily
lay by sufficient to bring them within
the property clauses, and until they have
something se, aside as a provision for " a rainy
day"—they cannot fairly be called on for any.
thing. As we stated, the capitalised value may
be taken at the very lowest figure, at six thou-
sand millions for taxable purposes, and per
cent., or ld. 1-sth in the pound, would produce
thirty millions per annum, an exceedingly good
starting point, which would enable the Financial
Minister to feel his way steadily and safely, to
drop the most vexatious and smaller charges at
once, and greatly to reduce all those which should
be retained for a few years.

We cannot participate in the morbid sympathies
of the Times, for the lady who chooses to retain
" a lot of trinkets worth 2001.," or the gentleman
who will " reserve, as a souvenir, a single RAPHAEL,
undoubtedly worth 3,0001." We cannot con-
ceive fitter subjects for the consideration of the
tax-collector. They are articles of luxury, and
therefore fairly liable, for the owners, if they
please to do so, can convert them into cash
or productive property. This spurious and
sickly sentimentality may do very well
for the moneyocracy, but it will not go
down with those who have to stint their
families, to give their children insufficient food,
or to allow them to remain without the education
which would qualify them for engaging in the
battle of life with reasonable prospects of success.
Taxation is indispensable ; a certain sum must be
raised ; and surely it is better to tax useless
objects, such as trinkets or pictures, than " the
corn of the tropics," or " the cup that cheers
without inebriating." We would also remind the
Times that The Sun Budget proposed to remove all
other charges on property, including the Legacy,
Succession, and Probate Duties, and the whole of
the Assessed Taxee--..the iniquitous House Duty
and all.

Although we differ in some respects from the
scheme oft c Liverpool Agßoe'ntion, wr ear!,,t9ty
reeointatnd it to the attentive condideration cf
the community. It is, indeed, well worthy Of
perusal; and every one must adroit that, if carried