The Sun.
London, England, 1850-04-09 00:00:00

LONDON,

. which the power was given of redeeming for a mere
temporary urgency, and, as it proved, for a trifling
sum of money, a tax which, properly and equi-
tably levied, would have been, as in all other
countries, a legitimate and productive source of reve-
nue from the rents and profits of real property." But
this blunder the sapient Commissioners would, so far
as in them were concerned, continue in the new law
to be enacted by the wisdom of Parliament.
The fiscal reformers should not, and we verily be-
lieve will not, remain idle or quiescent on the occa-
sion. A golden opportunity is before them, which
must not be permitted to remain unimproved. Such
another may not again arise during the present gene-
ration. It is at all times difficult to induce a minister
of finance to enter upon the consideration of
any fiscal subject, not forced upon his atten-
tion, and which can, by any possibility,
be adjourned or procrastinated, and in this respect
Sir CHARLES WOOD does not differ very materially
from any of his predecessors, indeed the Right
Honourable Baronet is rather remarkable for the
obstinacy and perversity, with which he adheres to
the existing system, and the determined resolution
with which he opposes any amelioration, however
palpable its advantages. He cannot, however, evade
the consideration of the income and property taxes
next year, as the term for which they were granted
will then expire. The equalization of the land tax
must also bo considered. Thanks to the judi-
cious and indefatigable exertions of Mr.
MAYES, and his able Counsel, Mr. MILLER,
of the Chancery bar, and in some degree to the
determination of the Commissioners to take no re-
sponsibility on themselves, but to cast the entire
burden on the Legiblature, they are, it appears,
about to petition Parliament for an Act in which

their powers shall be more correctly defined, and
such an appeal cannot be slighted or disregarded.
The question will therefore be forced on the consider-
ation of the Government and of the representatives of

the people.
Let, then, a combined and vigorous effort be made
by all who recognise the injustice and impolicy of our
present fiscal system, who would abolish indirect taxa-

tion as far as practicable, and remove the imposts that
unduly press on and almost paralyse the national in-
dustry. As we have already repeatedly shown, the
land-tax, if fairly and equitably apportioned accord-
ing to the intentions of those by whom it was origi-
ginally imposed, would produce very nearly, if not
altogether sufficient, to provide for the interest of the
public debt, and the expenditure on all our national
establishments. It should be borne in mind that the
annual value of the property on which assessments
were originally made in 1692, was only 9,948,3651.,
and that the personal property was then com-
paratively trivial in amount, and of a nature easily
concealed, so that those who were desirous
of committing frauds on the revenue could carry
their dishonest intentions into effect without the
slightest difficulty, and with but little danger of de-
tection or discovery. And yet, under such circum-
stances, 1,989,673/. was levied in each and every year.
The annual value of the property assessible to the
land has since increased to 98,205,9951., or nearly ten
times the former amount ; while the personal pro-
perty has improved in a still greater ratio, and
it is calculated that there is now accumulated
and realised property to the amount of two hundred
and fifty millions of pounds sterling per annum, which
could fairly be made liable to the tax. It is not too
much, then, to ask that the impost should be indif-
ferently and equally levied according to the true in-
tent and meaning of the 4th William and Mary, c. 1,
and that, according to the practice of all European
countries, the greater portion of the national revenue
should be collected from direct taxes on pro-
perty. We find it stated In the able essay on
Direct Taxation," which obtained the first
prize of 70/. offered by the National Confederation,
that previous to the late convulsions on the Con-
tinent the land-tax in France yielded 23,2501., while
all the indirect, or as they are properly termed, in

dustriul taxes, produced only 17,500,000/.; that in
Prussia the land•tax gave 3,094,0001., while indus-
trial taxes returned 3,667,0001, and in Austria there
was obtained from land-tax 7,797,0001, and from all
other sources of revenue 7,700,0001. But in Great
Britain the land-tax in 1849 produced only

1,158,2451., and if we add for the tax on real
property—excluding, of course, the receipts
under that head from other causes-2,557,7931.,
we find that the entire revenue amounted to only
3,71G,0381., while the industrial taxes yielded no lets
than 54,852,712/. Taxpayers, ponder on these tin•

questionable facto, and say, whether you w

not make some exertion to re►nedy the iniquitous
system that has placed the heaviest burdens on those
least able to sustain them !

THE FRENCH REPUBLIC.

We have received the Paris journals of yesterday.
The breach between the Legitimatists and the Or-
leanists widens. We yesterday alluded to the corn.
plaints made by the Legitimatists that they bad been
outjockeyed by the Orleanists in the ballot for Vice-
President of the Assembly, and stated that M. JULES
DE LEYSTERIE had resigned, in order to appease their
anger. A meeting of the reactionaries of all parties
took place at the club of the Quai d'Orsay, on Sun-
day, and words ran high between the Orleanists and
the Legitimatists, the latter of whom haughtily de-
clined all the advances of their tricky rivals. In conse-
quence of this fresh breach the Orleanists determined
to again start M. JULES DE LEYSTERIE as their can-
didate, and he was yesterday re-elected Vice• Pres-
ident, having obtained 325 votes.
The discussion on the Paris and Avignon Railway
Bill was then commenced, and after some debate ad-
journed.

- The Committee on the new law of the press has
resolved to recommend the rejection of the clause
enacting an increase in the depo-sit of caution money.
The following paragraph appeared in the Patrie :
" Several journals announce that M. DE PERSIGNY is
about to exchange his functions as Minister Plenipo-
tentiary at Berlin for those of Minister of Police.
This news has not the slightest foundation. We can
state that most positively."
The Alloniteur announces that M. PROUDHON'S
journal, the Toix du Peuple, has been seized by order
of the Attorney- General, for an article entitled the
"Budget," calculated to excite hatted and contempt
against the Government of the Republic. M. Emma
DE GIRARDIN has declared, that whatever may be the
amount of fines imposed on M. PROUDHON, -he (M.
DE GIRARDIN) and his friends have determined to
keep up the amount of caution money for the Vol:
du Peuple, so that its publication shall go on without
interruption.
The Government has received dispatches from Ad.
miral TREHOUART, dated Civita Vecchia, April 5,
announcing the departure of the POPE from Portici
for Rome.

-PAats BOURSE, APRIL B.—Latest Prices—Five per
Cents., 89f. 55c.; Three per Cents., 55f. 60c.; Bank
Actions, 2,150 f.

BUSINESS DONE IN FOREIGN RAILWAYS AT THE
LONDON STOCK-EXCHANGE, APRIL 8.
Dutch Rhenish, 134—Tours and Nantes, 2.

SPAIN.

---
Madrid journals of the 3d hAve arrived.
Their contents are unimportant.
MADRID BOLSA, APRIL 3.—The Three per Cents.
closed at 29 3-16 cash; the Five per Cents. at 134
paper ; Debt without Interest, 3-1 cash ; Coupons, 7
paper.