The Sun.
London, England, 1844-04-30 00:00:00

soenofth
tehefinanerixctiatle
cuonufenttteryreidn dtleiceiscioounr
tfore,oen ttehratta thin pirnokpotshiitsioiossnofot
rthaenpey
rerioddllefotlonttf..`oHr 'House
considerable amount of
the country. But there' ,
is another reason which'
ar. conditiont is;
etrl:
muSt. have COD 1,,
independently of the property 'n lb
reduction—of the taxation
.ot
derable weight with the House •In
to pursue the course which we now recoialne
We have had, as the House is - aware, a deo
ciency of revenue as compared with expenditure,
for a series of years. That deficiency continued fe
induct gn.d.
six successive years, and though for the present_r
din
have mastered it, yet it should be recollected by
House that we are still suffering from the entitle:
quences of it. Those deficiencies had to be met either
by adding to the debt of the country, or by drawing
on the decreasing amount in the Exchequer,
0'
way which it was not safe for any country to
Why, Sir, when I addressed the House in the course
of the last year, the balances- in the Exchequer we,:re
under 1,000,0002. per. *month ; by the od°
tion of the surplus of the revenue during
the present year, those balances had arisen to fri
2,000,000/. to 2,400,0001. But when We:,11111
a balance of only 1,000,0001.. per month in thee
chequer, what was the state of our account at tb
Bank of England? We were obliged to WO°
2,700,0001. in anticipation of the revenue, while r
were at the same time obliged• to boreal
5,000,000/. more in deficiency bills, for the purpc,se
of paying the public creditor the sums which well
due to him. I think, therefore, that we on'
not act wisely for ourselves, or honoursbl!f
for the country, or, indeed, safely for its interests/..1
we do not make some effort to return to such $ slaw
of prosperity as will place the balances in the XX
chequer in a position that will enable it to liquid°,
its payments to its creditors, and to bring the dentiri
of the Bank on account of these deficiency bk,s,
within some limited compass ; or, at all events, l
render the Government so far independent of tug'
assistance, that it may have at its disposal a
siderahle portion of the sum required for its 011
quarterly expenditure. The present 'quarter °
the year is at all times one of great • Pres;
sure on the finances, in consequence of the payn_rup,
on account of the National Debt. We require Ist--
balances in the Exchequer, in order that we may eets'',;
dependent of the Bank to a certain degree, and ccertelll
the operations of the Government on the prineiPiedy
have just stated. Under these impressions, so 0°,1,117,4
w
do I feel the importance of this course, that even if "si,".
had been no question involving the continuance of wr
property-tax coming on in the course of the next Yel!:,
I should not have thought I was acting the part of ""
honest man or a conscientious Minister, if I had for
borne to ask the House to apply the surplus of the Pr re,
sent year to the augmentation of the balances its
Exchequer. I trust, and indeed I feel confident
that the House, acting on the principle wh?,:-
guided it on a former occasion, will not ,:s
tate to comply with that request. I call hes%
forget that when I brought forward the proposal for the
reduction of the Three-and-a-Half per Cents., the ge°',
at once cordially concurred in the sentiment that
should not relieve ourselves at the risk of hazarding(
dangers to be incurred hereafter, or at the expense.„°
those who are to come after us. And upon that Pre;
ciple I now call upon the House not to give thernse'Llot
temporary relief by a present remission of taxation, uuts
to place the finances of the country upon a footing'Orto
will enable it hereafter to follow the bent of 10
inclinations, and give rehef to its constitute
without endangering the credit of the countrY4
or risking its ability to meet the paYlitli
it was bound to make.—(Cheers.) These are the reds
sons which have induced me to resist the large desnen.
which have been made upon us from 4°ll-
- quarters for a reduction of taxation. ~.ch
at the same time there are some articles on vila
taxes are imposed, upon which either a partial or tots,
reduction of the duty may be made without much in :1 °
,0,
to the revenue, but the removal of which may be Cel,,,
lated to give an impetus and improvement 1;
trade. I propose to submit to the House is
variety of articles,, more or less of importance, in wirst,
I think some reduction of the duty may be made. poise
with respect to those articles that will affect the Itetilie
revenue, I allude to a regulation with respect to
article of glass. I have had an application made to ire,
to repeal the whole of the duties on that arty
but that lam not going to do.—(Hear, hear, to
laugh.) That is not the course I am about 100
pursue ; but there is one portion of the duty ong4sd
which I think I can satisfy the House may be rePeire
without injury to the revenue, and the effect of 0"0
would give facility to trade. I allude to the distinctithe
duties on flint glass and bottle grass. Flint glass, ntios
present moment, pays a duty of 2d., while bottle
lose
pays only a duty of three farthings ; each of t .to
articles, upon exportation, are entitled the
receive a drawback, nearly amounting tend to
whole of the duty ; and, in order to put All made
fraud, the law enacts that no drawback shell.w plo
on flint-glass, unless its price is sd. a pettl4, rag&
the fact is, that there have been great irnprovemenv turere
in the manufacture of that article. Many manufac,o, if
can make flint-glass at less than sd. a pound'‘, and,
they do so, then they are deprived or the
drawback, added to which, when they go into uo,
market they have to compete with the foreigner.,,
manufacturing his glass at a less price, has the
tage. There is another necessity why sore
well °lter-litit°he
should be made—there is great difficulty, so well. isiaas
article manufactured, in discovering which
and which is flint glass; and when the claim for the dr:,..„
back comes, there are perpetual disputes as to the cloy 4
Under these circumstances, I am of opinion that it W
be beneficial to remove the distinctive duty between IS.
and bottle glass. The reduction will only amount to.
limited sum of 45,000/. a-year, but in the present yeas,;,
it will be only 35,000/., as I propose that the reductio._;
not to take place till the sth of July, by which
tthillelif
the manufacturers will have an opportunity to bond dig
glass, and avoid the imposition of the duty. T,he sso'
is bottle_g_o_
on bottle glass being three farthings, and on flint greltif ai
pence, I propose that the duty on both shall be -Leda
three farthings. There is another article subject t°„ pac
to which I am desirous of calling the attention of the Th°.cse
with a view to its repeal—l mean the duty on the or,tba
of vinegar.--(Great laughter.) It may excite nos
laughter or ridicule of Hon. Gentlemen who are v,
quite aware of the bearing such articles have upon for-
factures; but looking to these considerations, I cann°a the
bear dealing with them. Now, if Hon. Gentlemen red se
ninth report of the Excise Commissioners, they wills this
that, so far back as the year 1834, the repeal of 00,
duty on vinegar was recommended.—(Hear.) Theelo
missioners stated that the produce of the ditty in th ere
year wa5.23,000/., for the due protection of which thii,
was a code of regulations under the 58th of George t to
with regard to which they observed it was &Inc& for
concede on what ground it was necessary to provideries
the protection of so small an amount of duty by a setae•
of provisions of so complicated and extensive a llie„`tes,
The Act in question contained twenty-nine Co" ti
the infringement of which was punished pee
penalties varying from 1001. to 500/, The circums 0-
of vinegar being used by calico printers, and that versos
facturers would be much benefited by the repeal °f veil
duties, as well as the benefit which the public del:tonal
from an article so generally in use, were all addit:/%0 of
in favour of a repeal of the duty. This was the opin`"o4.
a gentleman who directed the excise in 1833 and 1,, is
I may observe to the House, that vinegar only 1)°, sod
duty when Mack by-the4iikritilaettirer fur sale;
therefore, as in the case of beer, the duty falls het''rti•
upon those who have not the means of making the ,11,0a1
clis for themselves, and are obliged to purchase it
the manufacturer, whilst those who can make stash
themselves are altogether exempt from the bO,rhe
that presses upon their poorer brethren.
sged
revenue, in this respect, has but little inere—
since the' period I have alluded to. It amountereil,
25,000/., and is a tax which I think ought to be rge.,114 is
Acids of a particular kind are essentially netese,al,lo%,
many branches of manufacture, such as calico-ell°,-„ret
for instance; and in order to give to the manufee'"tbe
the advantage of procuring those acids cheaPli'.,„sle.
law provided that pyroligneous acids in t ;cle,
impure, and unrectified state, should be
without payment of duty at all. This conee'„rer,
was intended fir the benefit of the rnanufored
At the time the concession was made it was CO'n° itad
a very considerable one, because manufacturers Act
pyroligneous acids in the state contemplated by t)!.etarer,
of Parliament. But as the skill of the mannr'"—seo
improved, those acids were produced in an iralNhots
state, which offered more advantages in their ornery
if they were used in what he might call their .11sri_le-for
fury state.—(Laughter.) I will, however, allow oitatid•
for the dealer to get rid of the stock on ;toe'
The next sultject is one of considerable WIT° ftll
both as regards its consequences to the commerce
country, and the amount of revenue derived froln to tile
propose to the House a considerable reduction ultdur
duty on marine assurance. By making that cfol
tion, we aro likely to produce -an effect which 11001
vantageous and appears attainable. To those 10°3,00
anything of marine insurance, it is obvious that it
c 8
settle itself in Great Britain. Marine assursnenjea
quires large capital on the part of those who c°efore,
it, and perfect confidence in their honour. If, thetid ssY
there be any country in the world in which I sh°° Conn'
marine insurance would flourish above any (Or? does'
try, it is Great Britain, possessing, es " afet'
capital, integrity, and great extent of territort ill
notwithstanding these things, marine insurance leetate, °
decline: The tax was originally imposed in 'pell
war, and was valued at a very large amount- o.s
ship that sailed, and all the property it carried, re hll"
sured, and they could be insured no `v e. vibe°
in this country. But then, after the Peace!stitionfh
the country was suffering under heavy contrwatictioil,
imposed for the carrying on of the war, no re. 1634
was made in the duty on marine insurance. Pit that
the pressure of this duty was felt Acybe so g're'rl which
Lord Auckland, acting upon the principle taw ill
I now propose to act, reduced the duty on nsiderab
surance to one-half; and calculated upon °°t•o-
loss to the revenue. But in that calcula truotwith:
Auckland was mistaken, for in two years,' e d whatltt;
standing that large reduction, the duty equaf the Pre°
had previously attained. The consequence 0 fish seer;
high rates of insurance is that at present idr"
in
chants insure in foreign countries in Prelleere;d°C
their own ;" and Hamburgh, for instance, r_L. our ofeo
marine insurance has very much increased• ill a
aissoe- ay
country, in marine insurance thes
rry to 9t,
duty has decreased, and I am (.1
present high rata of duty. There is another;noraneo ou
stance which makes the duty on marl," susanrehau
materially so, a fact which I certainly attributeoi7ctuni
s reblY Jest'trims'
England heavier in rainy instances. s
gwohoecnl s
sent sent b
3,hysasitleinagrn-
vveesssseellss; itshecrtemfosri"e°2l
ursh AW,
as between this country aAd.Franoes o.lPtaw",7,