The Sun.
London, England, 1850-03-16 00:00:00

the welfare of the community at large advanced. This
could only be attained by an outlay of capital
on the part of the landlord s and he was
anxious that no obstacle should be thrown in
the way of his doing that. Now the stamp.
duty on a 501. sale of property was 121 per cent.; on 1001.
51 per cent.; on 3001.1 21 per: cent.; on 5001., 1/. 14s.
3d. per cent.; and above that sum 1/, per cent.
It was obvious, therefore, that in the case of
small owners, rhey were not in an eqUal posi-
tion with their richer neighbours.—(Hear, hear.)
It was but fair to place them on an equality with other
classes, by'allowing. them to sell or borrow without
having those obstacles thrown in their way. Hon. Mem-
bers no doubt remembered that when proposals of this
kind were made to extend to another portion of the
United Kingdom, the Hon. Member for Oxfordshire said
they oughtato be applied to the whole country as well as
to Ireland. He (the Chancellor of the Exchequer) con-
curred in that view, and the first proposal he should
make would be, a considerable reduction in the duties
levied in the transfer of property up to the amount of
1,0001 What he proposed to do was, he thought, more
just than if an acreable per-centage were proposed ; and
he intended also that the same rule should apply to bonds
and mortgages.—(Hear.) The reduction was to com-
mence with all sums under 1,0001., and be proportionately
increased on any sum above that, because it would be
most unjust that the same duty should be charged on
the higher sums. He therefore proposed to make it,
as fir as practicable, an ad valorem duty, and in
every respect as uniform as possible. Another thing to
which he attached the utmost importance was the tenure
of land and the granting of lenses. In cases, also, when
the landlord was not disposed to lay out his own capital,
and that the tenant was prepared to do so on getting a
lease, he (the Chancellor of the Exchequer) was pre-
pared to reduce the stamp duty on leases, which at pre-
sent was very unjust and unequal. According to the
scale now existing, a loan for any sum less than 20/ was
liable to 11. duty, and what he proposed to do was, that
for a sum not exceeding 251. a duty of 2s. 6d. should be
charged, and so on up to 1,0001., which would be at the
rate of 1 per cent. Then as to agricultural labourers, he
had already stated that he was anxious, as tar as in him
lay, to promote any object which would give them em-
ployment, by enabling the owners of land to raise
money for the improvement of their properties; but he
was. above all, anxious to improve the comforts and
dwellings in which they resided.—(Cheers.) On that sub-
ject he would refer again to the document which ema-
nated from the Lords' Committee as to the effect of
the present law on the condition and morals of the poor
in their habitations. For his own part, he never was
more struck with anything than in reading this evidence
on that subject ; and having paid some attention to the
subject himself, it was impossible, he would say, under
the present system, to procure those comfortable cottages
for the labouring classes which all would desire. In
the first place, no remunerative interest could be expected
by those who did so, and, under the present circum-
stances, the Government thought it right that no legis-
lative obstacle should, at any rate, be imposed on those
who might think of doing so. As far as regarded a mo-
tion of his Hon. Friend the Member for Montrose, pro-
posed some time since, relative to a drawback on the
duties on bricks, he, for one, had in all cases a great ob-
jection to drawbacks ; but, independently of that objec-
tion, he believed that it was impossible that the proposal
of his Hon. Friend could be carried into effect. Seeing,
however, that the evil was not confined to the cottages
of the poor, but that the health of towns and cities was
deeply affected, he was prepared to concede the total
repeal of the duty on bricks.—(Cheers.) He found
that that subject had also occupied the attention of
the Committee of the House of Lords, to whose report
he had already adverted, when they stated that not only
would such a repeal tend to the improvement of real
property in towns, and their immediate vicinity, but add
considerably to the comfort of the poorer classes. In-
dependently of promoting the comforts of the poor,
which he considered of paramount importance, it was
also one of no less interest to the agriculturists them-
selves. In portions of the country where soil was of
such a nature as to prevent the manufacture of bricks,
a repeal of the duty would be of the greatest advantage,
in promoting and improving agriculture. He (the
Chancellor of the Exchequer) knew not if the lion.
Member for West Surrey was an advocate for the in-
crease of building on existing firms, but, for his own
part, he knew of no means better calculated to effect
such an object than else abolition of the duty on bricks.
Toe amount received from duty on stamps was a
little under 300,0001., on bricks 450,0001., making in
all a reduction in taxation of 750,0004 or little less
than half the sum of the estimate as the surplus on
hand. Ho was not aware when he came to add the sum
which he intended to apply to the reduction of the
national debt, to that which he now proposed, as a re-
duction on taxation, that he should, after doing both,
have a large sum on hand; still he thought it was only
'just and fair, that one-half should be so applied for the
reduction of the debt, and the other to relieve in some
measure the burdens of the people. He should also ob-
serve, that Hon. Gentlemen must not suppose that that
was the only relief from taxation which would take place
in the course of the year, because, by the operation of the
Sugar Act of 1846, duties on colonial and foreign sugar
would be remitted after July next, to the amount of
350,000/. The actual relief, therefore, given to the people
in the course of the year, would amount to 1,100,000/.
(Cheers.) He had another measure to propose, which he
believed was calculated to promote objects of a perma-
nent importance, and that was the outlay of capital for
the improvement of land. For his own part, he believed
that it was not simply an agricultural, but a national
object, for it could answer no purpose that any great
interest in that country should be depressed.—(Loud
cries of " Hear, hear.") It was. of essential im-
portance that the food of this country should be procured
at home, and not abroad—(Loud cheers from the Protec-
tionists)—and he was on that account induced to be-
believe that a judicious outlay of capital, combined with
skill, enterprise, aud industry, would not only bo bene-
ficial to the agricultural interests, but to the country at
large.—(Cheers.) Now the proposal he was about to
make was, to do that which was done in 1846, that is,
to make further advances for the purpose of draining
and the better cultivation of land.—(Load cries of
Hear.") He had the most satisfactory accounts from
Ireland and elsewhere of the advantages already de-
rived, not only in the employment of labour, but in a
profitable return for the outlay in the cultivation of land.
He was of opinion that in this respect the advances
would not be confined to those made by the Government
for that purpose; he thought that private companies,
when they discovered what was doing, would also come
orward and advance loans, for he well recollected that
twelve years ago, when they proposed raising a loan to
cultivate sugar in the Mauritius, this matter was after
some time taken up by the merchants themselves, and car-
ried on by them. The last advance made to England and
Scotland was two millions, and a gentlemen on the other
side of the Tweed evinced their readiness, by a priority
of applications, to avail themselves of the offer, by ac-
cepting out of the two millions, 1,600,000/.—(Loud
laughter from all parts of the House.) The sum appro-
priated to England was 372,0001, which, with a certain
sum reserved for a contingency, made up the entire; fur-
ther applications were made for an additional 500,0001.;
but he did not think himself called on to comply with
them. He proposed, then, to advance an additional sum
of two millions, and was prepared to reserve to England
the opportunity of making itself square for its former
loss—(A laugh)—though ho would not refuse Scotland
its fair proportion. With regard to Ireland, he pro-
posed making an additional advance of a million. That
country had already received, in 1847, a million and a
half; in 1849, 300,0001, making in all 1,800,000/. He
proposed to add to that sum 200,0004 which would
make the total advance two millions, and that put it on
a footing with England. Tbat he proposed to be ex-
pended in arterial drainage, on which he found there
had already been spent 858,0004 bat in consequence
of the works having been stopped—a circumstance
which produced great injury by promoting fevers and
other disorders, by the effect of open drains and incom-
plete drainage—he now proposed they should be com-
pleted, and for that purpose 800,000/, would be advanced.
Ireland would thus receive for improvements in land
alone 1,400,000/. He said he would mention an addi-
tional reason why he should keep a surplus in his hand,
and that was that he should be enabled to meet those
advances without making any addition to the public
debt. He himself believed that the system of making
advances from the public fund was not one which ought
to be of permanent continuance—(Loud cries of " Hear,
hear")—and he hoped that whoever occupied the situa-
tion he had then the honour to fill would be in a position
to put a stop to there, the result of which would be that,
for some years, the amount of these advances paid in
would accumulate a considerable sum, which could be
beneficially employed in reducing their national debt.—
(Loud cries of " Hear, hear.") These were the pro-
posals be had the honour to make to the House. On
stamps and bricks he had relieved the people
to the amount of nearly half the sum he pos-
sessed as a surplus; in addition to that there would
be a reduction in July next of 350,000/. on sugar, and
in consequence of the existing state of things, he was
prepared to make an advance of three millions, two
to England and Scotland, and one to Ireland, for the
better cultivation and improvement of land, He would
then have in his hand 750,0001., which he would either
apply to the reduction of the national debt or any con-
tingencies which may arise. Of that sum he intended
to apply another sum of 250,000/. for the extinction of a
debt which ha found had existed from the time of the
union with Scotland, as a charge on the public revenue
of ten thousand a year, called an ",Equivalent Fund."
It was thought much better to put an end to that charge
at once, by the payment of the 250,0001. he had men-
tioned, and after doing so he should still have a surplus
of 500,000/., which he hoped the House would allow him
to retain for contingencies.
Sir JAMES GRAHAM asked who received that
money in Scotland?
The CHANCELLOR of the EXCHEQUER replied
that it was paid to the " Equivalent Company," who
were principally members of the Bank of Scotland. He
did not know if he could succeed in satisfying the
agricultural community with the advantages thus afforded
them; but all he should say was, that while he and the Go-
vernment with which he had the honour to be connected,
felt themselves bound to resist their claims in look-
ing for the restoration of measures which would have the
effect of taxing the community at large, they would be
always ready, as far as relief could be afforded, to do so
on all occasions, believing, as they did, that a proper
outlay of capital on the land would have the effect of
raising that interest to prosperity as it would of provid-
ing food for their increasing millions, which was so in-
dispensably necessary. It would require skill and
energy on the part of the farmers, and a great outlay
of capital by the owners of the soil, and they were ready
to assist them by every means in their power. These
measures, ho believed, would not only benefit the agri-
culturists, but advance the interests of all classes in that
great country. He did, however, hope that the House
would support him in maintaining the surplus he had in
hand, for he could not say bow strongly hefelt the ns-
vanity of such a course, and that was no new opinion