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

SUN, LONDON, TUESDAY MORNING, APRIL 30, 1a44.

farther than this—that as upon all the leading articles
of the Customs there has been an increased
consumption, so upan all the different articles
of Excise there has been an improvement. Not
equally early, but as surely indicative of the improving
state of the country. In the year ending at the last quar-
ter there was an increase in every article of this kind.
The House, therefore, will perceive that the increase
has been progressive in every respect. With respect
to the estimates, the calculation I formed is as nearly
as possible accurate. The estimate of 7,000,0001.
in the Excise produced 7,101,0001. The taxes,
which I estimated at 4,200,0001., produced
4,192,0001., and the only observation I have
to make on that branch of the revenue is this—that
there was an apprehension expressed that the income-
tax would lead to the diminution of other taxes, espe-
cially the assessed taxes. Now it will be found that
that has not been the case, and that there has not
been, in that branch of the revenue, the pressure that was
supposed. With respect to the Post-office, lam happy
to say that the increase from that source exceeds the
amount of the calculation which I made by 28,000/.
The estimate I made was 600,000/. ; the receipts
have been 628,0001. With respect to the Crown lands
there have been similar results. I estimated the re..
venue from that source at 130,000/. ; the amount has
been 147,000/. The miscellaneous estimates I esti-
mated at 870,000/.; the receipts were 803,000/. The
total, therefore of these several items is, that the revenue
which I had estimated for the year at 50,150,0001.
has produced an income of 52,138,8401., being an
increase to the extent of 2,700,0001. beyond my cal-
culation. With respect to the expenditure of
the country, it will be found that my esti-
mates have literally been exceeded. The
expenditure in last year for the army was 6,188,0001.,
being a reduction of upwards of 500,0001. for the
expenditure from the last year; but it is due to the
House that I should state this, that they should not
labour under the impression that it was the case,
that we have not been able to make the reduction.
The difference arose from another cause, namely, that
in the course of the last year the Indian Government
made larger payments on account of the debt it owed
to the Crown for the military service, and also from
the further circumstance that, peace being restored,
there had not been the same necessity to keep funds
In the commissariat chest. The expenditure in the
course of the last year has been reduced by 500,0001.
The reduction in the navy is not one to be taken as a
reduction of expenditure, because the payments on
account of that service are made at uncer-
certain periods, and it is impossible to calculate
what payments may be required for that service. As
I was in error with regard to the amount of the
revenue which produced 2,700,0001. more than I
calculated upon, so in consequence of the decrease in
the expenditure to which I have adverted, there' has
been an error in nearly the same direction for
650,0001. less than I calculated would be required,
when I made my statement to the House last year,
was expended. Taking these sums together it
will appear that I had calculated on a surplus
of 700,000/., the total surplus in the year
will be a sum of 4,165,0001.—(L0ud cheers.)
It will be in the recollection of the House that,
at the close of last year, I had to announce to
the House a very considerable deficiency of in-
come to meet the expenditure, amounting to
2,400,000/. ; and, as I then stated to the House,
that I believed that deficiency to be rather apparent
than real, I recommended to the House to make
no provision for the payment of that deficiency—
not to raise means by loan for the purpose
of getting rid of it, but that it should
be defrayed out of the surplus of future years, as cir-
cumstances, from time to time, might allow ; and
I am happy to be able to announce to the
House that the deficiency of 1843, which
amounted altogether to 2,749,000/., has been
cleared off and discharged out of the produce of the
revenue of the present year, and after the discharge
of the debt incurred in the course of last year, it will
enable us to present to the public a surplus of
1,400,000/. on the Ist of April just passed.—(Cheers.)
So far then as the past year is concerned I believe
the House will agree with me that my statement is
satisfactory. We will now proceed to consider the
estimates and prospects for the year on which we
have entered.
Mr. COLLETT (Athlone)—What is the amount
of the property-tax ?
The CHANCELLOR of the EXCHEQUER
5,315,000/. which is somewhat larger than the esti-
mate I had made last year, in consequence (as we
understood) of there being a larger return from Scot-
land than I had anticipated. Now, Sir, in making
an estimate for the year on which we have entered, I
have adhered to the rule I laid down for my•
self on a former occasion, 'Cat of not being be-
trayed into too sanguine expectations, which
the future would not bear out. I therefore content
myself with taking the Customs at little more than
the amount they have actually produced last year,
viz., 21,500,0001.; and remembering that last year we
derived 800,0001. from corn, and not being certain at
at this period of the year what may be the state of
the harvest of the country, I have thought it
better to take the estimate of the produce of the
Customs as not greater than what they pro-
duced last year ; and I therefore take the
estimate, as I have already said, at what I
I took it last year, namely, 21,500,0001. With
respect to the Excise, from every account I have been
able to derive, from those best conversant with the
affairs of the Excise, I do not apprehend that
there is just ground for fixing the estimate for the
Excise at a higher rate than I estimated it in the year
gone by, namely, 13,000,000/., which is the
amount I propose to take this item at. I
mean to take the stamps at 7,000,000/., the assessed
taxes at-4,200,000/., and the property tax 5,100,000/.,
which is about the amount produced in England last
year. To these I will add the Post-office at
600,000/. only, and, for this reason, the revenue ofthe
Post-office made some little progress in the course of
last year, and I doubt not that in the course of next
Year it will make a certain progress also. But
at the same time there are several arrangements
now pending at the present moment with respect to
the postage of foreign letters, and there are some
negotiations going on with foreign countries with re-
spect to the postage of letters in foreign parts,
which will necessarily lead to considerable expendi-
ture. Therefore, Ido not think it safe to take the
estimate for the Post-office at more than 600,0001.;
the Crown lands, I will take at 130,0001.,
and the Miscellaneous estimates at 250,0001.,
making together a total estimate of 51,790,0001.
With respect to the expenditure of the country, the
first item to which the House will naturally expect I
should call their attention is the payment on account
of the National Debt. The payment for the last
year was 29,300,0001.—f0r the present, 27,697,000/.
—(Cries of " Hear, hear.") -But it will be
necessary for me, in making this statement, lest
the House may labour under a delusion in supposing
that there really is such a decrement in the expense
of the national debt, to state that the deficiency which
mnst be paid in the present year, as compared with last,
amounts to 1,400,000/.; but, as I said before, the
House must not be led into the delusion that that is
the real decrease. When I recommended the reduc-
tion of the Three-and-a-Half per Cents., I suggested,
with a view of equalising the payments, that the new
Stock, which was previously paid in January and
July, should be made payable in April and October.
The real diminution of the debt, in the present year,
is one-half of the benefit derivable from the

Three-and-a-Half per Cents., being 313,0001.
I am anxious to impress this on the House,
lest they should run away with the idea that
the surplus is so much greater than it really is—
lest they should believe it to be what they might
at first naturally suppose, 1,100,000/. The charges,
however, for the year on account of the debt and con-

solidate-1 fund amount to 3,097,0001.
Mr. HUIVIE—The Exchequer Bills ?
The CHANCELLOR of the EXCHEQUER—
This includes the Exchequer Bills, and the interest
thereon. The estimate for the year has been already,
for the most part, before the House ; and the House
is sensible that there has been not a considerable, but

a certain reduction in the total amount as corn-

pared with last year, and a considerable reduction
as to the preceeding year. lam far from saying that
the reduction his been carried to the extent to which
the peace and tranquillity of the country must lead
the House to expect; but it has been carried to that
point in which up to the present moment, upon a
most careful review of the circumstances of the coun-

try, I believe it would be possible to carry it
with safety. The estimate for the Army
amounts to 6,616,0001. The estimate of the navy
to 6,250,0001. instead of 6,380,0001., as in the

preceding year; and, in this expenditure, provi-
sion has been made for great national works.
The ordnance to a sum of 1,842,0001., and the miscel-
laneous estimates, which have not yet been all
voted by the House, I calculate will amount to
somewhere about 3,000,0001. There are also,
during the present year, several extraordinary
sources of expenditure to which I wish to draw the
attention of the House. It appears to me that it will
be necessary during the course of the present year to
make provision for the payment of several extra-
ordinary items, and the House ought to be made aware
of those items. The first item to which I wish to

draw the attention of the House is one connected
with the late hostilities which have been carried

on in China. The accounts which were presented
to the House, last year, carried the accounts
of the disbursements payable to the East India
Company, on account of the war in China, up to a pe-

Hod of six months shorter than that for Which the

East India Company claims. I have not yet
been able to procure the accounts of the whole amount

which the East India Company claims, but I calculate
that the sum which we shall have to pay to the East
India Company, in addition to the accounts already
laid before. Parliament, is about 400,0001. and I have

reckoned that sum in my estimate of the
expenditure for the current year. Another
item of expenditure arises from the operation of that
measure which I had the honour to submit to the
House a short time since, I mean the reduction
of the Three-and-a-Half per Cents. The House will,
no doubt, bring to mind the large amount of debt
on which we at that moment operated. lam sure I
am bound to return my thanks to the House for the
cordiality with which they expressed their approba-
tion of that measure, and supported the views which
I proposed to them, and which mainly contri-
buted to the happy results of that mea-
sure—(Hear, hear.)—and to that support is
mainly attributable the feeling of universal satisfac-
tion with which that measure was received throughout
the country. It was naturally to have been expected
that there would have been a considerable body of
dissentients, who would have demanded to be paid
off. That expectation, lam happy to say, has been
falsified. The amount of dissentients in England
amount to 60,9941., and in Ireland to 13,2801., of
those whose assent is required to he expressed.
I mean those who hold stock of 1818, the amount of
stock held by those who have not expressed their as-
sent amounts to 172,8411., so that the dissentients on a
question involving the conversion of an amount of stock
of 250,000,0001., amounts only to the trifling sum of
247,1101., and these is contained in that portion of the
holders of stock who are residents abroad, and in the
colonies, and who may within the time
limited be expected to avail themselves of
the opportunity of signifying their assent.
Now, Sir, it has been customary, on former occa-
sions of this nature, when the amount to be paid off
has been considerable, to raise money by loan for
the purpose of paying off that amount; but I
think, considering the small amount of the charge to
be paid off, considering also the state of the revenue,
and on other accounts, it is desirable that we should
make provision for the sum which is neces-
sary to pay off these dissentients ; and, therefore,
I propose to take a sum of about 200,000/., which I
conclude will be about sufficient to pay the charge,
and which will form a part of the expendi-
ture which I have to lay before the House.
There is another matter which requires
some expenditure, but which I think is likely,to re-
sult in future economy. The House is aware that in
the year 1815 an engagement was entered into with
the South Sea Company that they should crntinue to
receive an annual interest from the Customs, together
with an annual payment from the country on account of
their establishment, until the guarantee-fund of the
Society was renewed. The history of that Society I
need not now state at any length. I may shortly
state, however, that it was originally vested
with peculiar and extensive privileges connected
with trading to the South Seas ; that those privileges
were repealed by the Act of the. 55th of George 111.,
to which I have referred ; and that by that Act they
were assured that they should receive from the public
an addition to the capital of their stock.
as the price of the surrender of their privileges, equal
to one-sixth of the stock which they at that moment
possessed, being the sum of 610,0001. In order to
provide this guarantee fund a sum was annually
paid to the Commissioners for the Reduction of
the National Debt, and invested with a view to its
accumulating for this Society. It has now pro-
duced about 300,0001.; and there is a deficit
of 239.000/. required to make up this gua-
rantee fund, for which the public are, in fact,
paying an interest of 11,8681. a year. There are
other advantages beyond this saving of interest, which
may result from making an arrangement at the present
time with the South Sea Company. So long as the
Funds were low, it was in fact nearly impracticable
to make any useful arrangement with the Com-
pany to relieve the public from the charge
to which it was subjected. Whatever terms
we might have made with the holders of this stock,
they would have been entitled to demand from
the public the full amount of 100/. for
every 100/. of stock which they possessed.
And, therefore, so long as the funds are lower
than par, so long it is impracticable to effect
that further reduction which may now, in the
result of the funds coming to Far, be bene-
ficially effected. Therefore, Sir, I think it is
now necessary for the Government to be placed in a
position, that if the opportunity should arise for making
such a reduction, it may be able to take advantage
of it by paying off the remainder of that debt,
namely, 239,000/., thereby laying the foundation of
a future considerable saving.--(Hear.) The total
expenditure of the year for the ordinary service is-
-17,700,0001., and the extraordinary service to
which I have lately adverted, amounts to 846,000/.,
making a total of 18,546,0001. So that,
if you add that sum to the debt, which
is 30,097,170/., the total expenditure of the
year will be 48,643,170/. If that be deducted from
the gross amount of the revenue, that is 51,790,000/.,
it would leave an apparent surplus (subject
to the reductions which I have before alluded to) of
3,146,0001., but if you make allowances for that por-
tion of the debt which will be due next year,
that will leave the surplus 2,376,0001.—(11ear,
hear.) In a country like this where
every one has the means and uses the means of in-
forming] himself of public affairs, it is not other
than could be expected that it has been for some time
generally known that the result of this year's
revenue would not be different from the an-
ticipations which had been held in every quar-
ter. I find, in consequence of that anticipa-
tion, that I have been assailed by communications
from various parties recommending that the increase
of the revenue should be made available for reductions
of taxation on almost every article of consumption.
I can assure those Hon. Gentlemen, many of whom
I see now, that nothing could be more gratifying to
me than to yield to their application. Nothing
would be more gratifying to my feelings, if I felt it
consistent with my public duty, than to make
those large and general remissions of the taxes
which I was requested to do. But, Sir, when
we consider of the remission of taxation, we
must also consider the nature of the burdens
which exist at the time that remission is to be
made. I would beg the Howe to bear in mind that
when I told them that we had at present a surplus
revenue of 2,370,000/., that that revenue is not a per-

manent annual excess of regular and permanent revenue
over the constant expenditure of the country, but it
is the result but for one year of the receipts of the
revenue of the country over the expenditure, which
has been incurred in the course of that year; that
it is a fund upon which, for the present year,
we may rely, but it is not a fund of constant
and future annual occurrence. The House must

also bear in mind that, in the present year, that fund
has been produced by the imposition of an extraordi-
nary tax in the year 1842, and which produces
5,100,0001., which is the main ground of sur-
plus which, this evening, I have announced to
the House of Commons. Now, I will
call the attention of the House to the circumstances

under which that tax was imposed. It was imposed
at a period when the country had been labouring for
a considerable number of years under the evil of the
revenue of the country failing to equal the expenditure,
and when there was the necessity for great exertion

in order to make the revenue sufficient to bear

the necessary charges of the country. It was
imposed also with another object—namely, with
a view of giving relief to the commercial
interests of the country, by reducing the
amount of taxes upon a variety of articles, and
for the purpose of trying the experiment whether by
immediate reduction in certain duties you might not
bring round in a limited period the revenue to the

same amount as that which it was before the reduc-

tion took place. It was imposed, therefore, with the
double object of supplying, during an interval, the
previous deficiency of the regular revenue of the
country, and for giving time for the repealed
duties to recover, so as to be as pro-
ductive as before the reduction was effected;
with that view it was submitted by my Right Hon:
Friend to the House, and he stated his opinion, that if
that tax were continued for five years, it would have
the effect which he anticipated.—(Cries of " Three
years.") My Right Hon. Friend took it for a shorter
period.—(Laughter.) My Right Hon. Friend'
indeed took it for a shorter period for
three years—and he did so on this ground,
that if at the expiration of that period the
result which he had anticipated to occur at the end
of five years should not occur, then the House would
have an opportunity of considering whether they
would continue that impost for the same period,
or whether they would take another mode of
supplying any deficiency which might exist.
I have no hesitation in saying that, at the present
moment, I cannot form any estimate of what those
reductions may be. When I look at the list of arti-
cles in the tariff on which reductions of duty took
place, and at the increased consumption which has
taken place of those—when I find that only on five
has consumption decreased, while on all the rest con-
sumption has increased —I must say, I entertain, very
sanguine feelings as to the ultimate success of the ex-
periment. But the House will be good enough to bear
in mind that in some main articles—timber, I will espe-

cially mention —on which a reduction of the
duty has taken place, that reduction did not
come into operation until the middle of last
year. The experiment, therefore, in these instances,
has not had a fair trial ; and I am not therefore pre-
pared to say what course ought hereafter to be pur-
sued in respect of them. In the course of the next
year the property-tax must necessarily come under
the consideration of the House, and it will be for

it to say what course it will pursue with
respect to the continuance or discontinuance
of that impost. Such being the circumstances, I think
it must be obvious to every one that I should not have
acted a becoming part if I had induced the House to
consent to a large reduction of duty, which
might have had but one effect, namely, that
of hindering Parliament from coming to an

unfettered decision on the financial condition of the
country in the course of the next year. It is, there-
fore, that I think this is not the period for the ':House
to entertain propositions for any reduction—for any
considerable amount of reduction—of the taxation of
the country. But' there is another reason which,
independently of the property-tax, must have consi-
derable weight with the House in inducing it
to pursue the course which we now recommend.
We have had, as the House is aware, a defi-
ciency of revenue as compared with expenditure,
for a -series of yoars. That deficiency continued for
six successive years, and though for the present we
have mastered it, yet it should be recollected by the
House that we are still suffering from the conse-
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, in a
way which it was not safe for any country to do.
Why, Sir, when I addressed the House in the course
of the last year, the balances in the Exchequer were
under 1,000,0001. per month ; by the addi-
tion of the surplus of the revenue during
the present year, those balances had arisen to from
2,000,0001. to 2,400,0001. But when we had
a balance of only 1,000,0001. per month in the Ex-
chequer, what was the state of our account at the
Bank of England? We were obliged to borrow
2,700,0001. in anticipation of the revenue, while we
were at the same time obliged to borrow
5,000,000/. more in deficiency bills, for the purpose
of paying the public creditor the sums which were
due to him. I think, therefore, that we can-
not act wisely for ourselves, or honourably
for the country, or, indeed, safely for its interests, if
we do not make some effort to return to such a state
of prosperity as will place the balances in the Ex-
chequer in a position that will enable it to liquidate
its payments to its creditors, and to bring the demands
of the Bank on account of these deficiency bills
within some limited compass ; or, at all events, to
render the Government so far independent of that
assistance, that it may have at its disposal a con-
siderable portion of the sum required for its usual
quarterly expenditure. The present quarter of
the year is at all times one of great pres-
sure on the finances, in consequence of the payments
on account of the National Debt. We require larger
balances in the Exchequer, in order that we may act in-
dependent of the Bank to a certain degree, and conduet
the operations of the Government on the principle I
have just stated. Under these impressions, so strongly
do I feel the importance of this course, that even if there
had been no question involving the continuance of the
property-tax coming on in the course of the next year,
I should not have thought I was acting the part of an
honest man or a conscientious Minister, if I had fore-
borne to ask the House to apply the surplus of the pre-
sent year to the augmentation of the balances in the
Exchequer. I trust, and indeed I feel confident,
that the House, acting on the principle which
guided it on a former occasion, will not hesi-
tate to comply with that request. I cannot
forget that when I brought forward the proposal for the
reduction of the Three-and-a-Half per Cents., the House
at once cordially concurred in the sentimert that we
should not relieve ourselves at the risk of hazarding
dangers to be incurred hereafter, or at the expense of
those who are to come after us. And upon that prin-
ciple I now call upon the House not to give themselves
temporary relief by a present remission of taxation, but
to place the finances of the country upon a footing that
will enable it hereafter to follow the bent of its
inclinations, and give relief to its constituents
without endangerinc, the credit of the country,
or risking its ability to meet the payments
it was bound to make.—(Cheers.) These are the rea-
sons which have induced me to resist the large demands
which have. been made upon us from vari-
ous quarters for a reduction of taxation. But
at the same time there are some articles on which
taxes are imposed, upon which either a partial or total
reduction of the duty may be made without much injury
to the revenue, but the removal of which may be calcu-
lated to give an impetus and improvement to
trade. I propose to submit to the House a
variety of articles, more or less of importance, in which
I think some reduction of the duty may be made. First,
with respect to those articles that will affect the Excise
revenue, I allude to a regulation with respect to the
article of glass. I have had an application made to me
to repeal the whole of the duties on that article,
but that I am not going to do.—(clear, hear, and a
laugh.) That is not the course I am about to
pursue ; but there is one portion of the duty on glass
which I think I can satisfy the House may be repealed
without injury to the revenue, and the effect of which
would give facility to trade. I allude to the distinctive
duties on flint glass and bottle glass. Flint glass, at the
present moment, pays a duty of 2d., while bottle gl.iss
pays only a duty of three farthings ; each of those
articles, upon exportation, are entitled to
receive a drawback, nearly amounting to the
whole of the duty ; and, in order to put an end to
frauds the law enacts that no drawback shall be made
on flint-glass, unless its price is sd. a pound. Now
the fact is, that there have been great improvements made
in the manufacture of that article. Many manufacturers
can make flint-glass at less than sd. a pound • and if
they do so, then they are deprived Of their
drawback, added to which, when they go into the
market they have to compete with the foreigner, who,
manufacturing.his glass at a less price, has the advan-
tage. There is another necessity why some alteration
should be made—there is great difficulty, so well is the
article manufactured, in discovering which is bottle glass
and which is flint glass; and when the claim for the draw-
back comes, there are perpetual disputes as to the duty.
Under these circumstances, I am of opinion that it would
be beneficial to remove the distinctive duty between flint
and bottle glass. The reduction will only amount to the
limited sum of 45,0001 a-year, but in the present year
it will be only 35,000/., as I propose that the reduction is
not to take place till the sth of July, by which time
the manufacturers will have an opportunity to bond their
glass, and avoid the imposition of the duty. The duty
on bottle glass being three farthings, and on flint glass two-
pence, I propose that the duty on both shall be left at
three farthings. There is another article subject to duty
to which I am desirous of calling the attention of the House
with a view to its repeal—l mean the duty on the article
of vinegar.—(Great laughter.) It may excite the
laughter or ridicule of Hon. Gentlemen who are not
quite aware of the bearing such articles have upon manu-
factures; but looking to these considerations, I cannot for-
bear dealing with them. Now, if Hon. Gentlemen read the
ninth report of the Excise Commissioners, they will see
that, so far back as the year 1834, the repeal of this
duty on vinegar was recommended.—(Hear.) The Com-
missioners stated that the produce of the duty in the last
year was 23,0001., for the due protection of which there
was a code of regulations under the 58th of George 111,
with regard to which they observed it was difficult •to
concede on what ground it was necessary to provide for
the protection of so small an amount of duty by a series
of provisions of so complicated and extensive a nature.
The Act in question contained twenty-nine clauses,
the infringement of which was punished by
penalties varying from 100/. to 5001. The circumstance
of vinegar being used by calico printers, and that manu-
facturers would be much benefited by the repeal of the
duties, as well as the benefit which the public derived
from an article so generally in use, were all additional
in favour of a repeal of the duty. This was the opinion of
a gentleman who directed the excise in 1833 and 1834.
I may observe to the House, that vinegar only pays a
duty when it is. made by the manufacturer for sale; and
therefore, as in the case of beer, the duty falls heavily
upon those who have not the means of making the arti-
cle for themselves, and are obliged to purchase it from
the manufacturer, whilst those who can make it for
themselves are altogether exempt from the burden
that presses upon their poorer brethren. The
revenue, in this respect, has but little increased
since the period I have alluded to. It amounts to
25,0001., and is a tax which I think ought to be repealed,
Acids of a particular kind are essentially necessary in
many branches of manufacture, such as calico-printing,
for instance; and in order to give to the manufacturer
the advantage of procuring those acids cheaply, the
law provided that pyroligneous acids in a crude,
impure, and unrectified state, should be made.
without payment of duty at all. This concession
was intended for the benefit of the manufacturer,
At the time the concession was made it was considered
a very considerable one, because manufacturers used
pyroligneous acids in the state contemplated by the Act
of Parliament. But as the skill of the manufacturer
improved, those acids were produced in an improved
state, which offered more advantages in their use than
if they were used in what he might call their Parliamen-
tary state.—(Laughter.) I will, however, allow one year
for—the --dealer- to get rid of the stock on hand.
The next subject is one of considerable importance,
both as regards its consequences to the commerce of the
country, and the amount of revenue derived from it. I
propose to the House a considerable reduction upon the
duty on marine assurance. By making that reduc-
tion, we are likely to produce an effect which is ad-
vantageous and appears attainable. To those who know
anything of marine insurance, it is obvious that it should
settle itself in Great Britain. Marine assurance re-
quires large capital on the part of those who conduct
it, and perfect confidence in their honour. If, therefore,
there be any country in the world in which I should say
marine insurance would flourish above any other coun-
try, it is Great Britain, possessing, as it does,
capital, integrity, and great extent of territory. Yet,
notwithstanding these things, marine insurance is on the
decline. The tax was originally imposed in time of
war, and was valued at a very large amount. Every
ship that sailed, and all the property it carried, was in-
sured, and they could be insured no where but
in this country. But then, after the peace, when
the country was suffering under heavy contributions,
imposed for the carrying on of the war, no reduction
was made in the duty on marine insurance. But in 1834
the pressure of this duty was felt to be so great, that
Lord Auckland, acting upon the principle upon which
I now propose to act, reduced the duty on marine in-
surance to one-half, and calculated upon a considerable
loss to the revenue. But in that calculation Lord
Auckland was mistaken, for in two years, notwith-
standing that large reduction, the duty equalled what it
had previously attained. The consequence of the present
high rates of insurance is that at present British mer-
chants insure in foreign countries in preference to
their own ; and in Hamburgh, for instance, the trade in
marine insurance has very much increased. In our own
country, in marine insurance the amount of
duty has decreased, and I am sorry to say
materially so, a fact which I certainly attribute to the
present high rate of duty. There is another circum-
stance which makes the duty on marine insurance in
England heavier in many instances. The insurance on
goods sent by steam-vessels is considerably less than
when sent by sailing vessels ; therefore in short trips,
as between this country and France, and Hamburgh and

Germany, and neighbouring countries, there is slteitt;
sureeme of one-third on every hundred pounds, wsm
the premium is two shillings and five shilling's,
the duty on sailing vessels is four shilling*
and seven shillings and sixpence, and ten shillit
Under these circumstances it is necessary to reduce "
duty, in order to secure to this country the advanter,
to be derived from marine insurances. In order to e„
"Tr
this, I propose, not only to reduce the duty, but to aa'of
the scale on which it is levied. The present rele
duty is as follows :-For every 1001., where the preinto
does not exceed 15s. per cent., the duty levied awl, 5,
to Is. 3d. per cent. ; where the premium exceeds L
but does not exceed 305., the duty is 2s. 6d. per CO°Li,
and where it exceeds 30s. the duty amounts to 55 ri
cent. This presses unduly upon small insurances.ot
therefore propose to reduce the duty and to varY,ool
rates according to the following scale. For every tot,
insurance, in which the premium does not exceed ileie
I propose to levy a duty of 3d. instead of ls. 3d. ; w
not
the premium does exceed 10s. but does „A.'
exceed 205., a duty of 6d. instead of is.
and in some cases 2s. 6d., as at prese7o
where the premium exceeds 20s. but does not exceed.lee:l
a duty of Is.; where it exceeds 30s. but does not t4cnot
40s. a duty of 2s. ; where it exceeds 40s. but does po'
4
exceed 50s. a duty of 3s. ; where it exceeds 50s. bet °O,
not exceed 60s. a duty of 45.; and where it is above °
a duty of ss. I calculate that during the court.
the, present year the diminution of revenue rot
sequent upon this reduction will amount to 100011,e
But I calculate that during the course of to
following two years after the change sPis
have been effected, there will be a sensible increase,: to
the disposition of foreigners to come to this couttwio
effect their insurances, and that the country will I:eff-d
the advantage, even if no advantage should be der/
by the revenue in consequence of this reduction'.
(Cheers.) It is also my intention partialy afl
reduce the Stamp duty on agreements sa
en?
proxies for voting for Railway Companies, but t" sa
reductions will affect the revenue to so very smalitee
extent, that I do not think it necessary to trouble 00
House on the subject. The next class of articles ,
which I propose to make a reduction are articles of c°,"o,
sumption. The first one is an article, in mentioeise
which I shall no doubt excite the laughter of the
-I mean the article of currants.-(Cheers and laughl;00
This is an article ofgeneral consumption, and is,there
a very fitting article for reduction, whether we consider t tb,,
value of the article, the duty which is imposed iiP°`l i 0
or the countries which produce it. One of the countr!tb
which produce it derives nearly the whole of its welts,
from the produce of this article. The value of one "of
of currants is 405.; according to our tariff, on this env
currants there is a duty imposed of 225. Now, tit:-
currants ?-(A laugh.) They are but grapes eater
of
(Renewed laughter.) They are an article of
great consumption among the lower orders
the people. They constitute a luxury agree Ile,
to them, and beneficial to their general lies
Currants are mainly consumed by persons in the low
ranks of society, and the duty is a very large one,e•
ni
therefore propose to reduce the duty on currants li`io
225. to 15s. Sir, there is is another argument alsen
favour of this reduction,-currants are the 501
produce of the lonian Islands, whose intimate Otte
nection with us affords an argument in filet
of our promoting their interest by - promoting If
branch of industry from which their resources are chic
derived. I have said that currants are mainly derlr,,e
from the lonian Islands. Those which do not colt
from thence, come from Greece ; and whatever nieY
said of that country in other respects, it must at leas",
rdi
confessed that it treats Great Britain, as reg9se
commercial intercourse, with the most perfect fair°,,o
-(Hear, hear.) For these reasons-and I could men".oo
others if it were necessary to do so-I think, et
are justified in making a sacrifice even of 90,000& ill
revenue, which is the amount which I calculate woe
in the first instance be lost on this branch of revenne, r
behalf of those classes of society who look upon this °es
tide as a great luxury, but who are now in a great deli it
debarred from its consumption by the price at whif
is sold.-(Hear.) The next article to which I would
the attention of the House is that of coffee.---(Hear, bete
The House will recollect, that when the general arrange
ment of duties took place, in 1842, the distieevi,
duties upon foreign and British coffee were fixed °t of
and 4d.; that is, there was duty of Bd. upon the one,,u or
4d. on the other, and that extent of discriminating 'toe
being extremely large, with respect to the value 0f,4
article on which it was imposed, was only maintsitio.
on the ground that we were then engaged in net
.rel
tions with Brazil, which made it extremely difficult 7,
ito.ldicious at that time to reduce the duty on Weft,
coffee to the amount to which we should have thenger
under other circumstances, it ought to have been 'of
duced. I think it right, therefore, to avail vire dr
the opportunity which the termination of those nerre
tions has given me, to recommend the House t° 6(1,
duce the duty on foreign coffee from Bd. t° to
That reduction, I am satisfied, from all the exaraiaiiffes
° Ja
I have been able to give to the subject, will admit e
very extensively for consumption in this country, wesr)
out injury to the interests of the celonies.--(lidees
The effect of the high duty has been greatly to ree.,
the amount of foreign coffee consumed in the coar'oo
last year-indeed nearly 30 per cent.-for the redllieei
has been from more than 11,000,0001b5. to les'teed
9,000,0001b5. It being a most important thin to e,„,the
the use of a beverage which is a great luxurY i**
poorer classes, nd which at the same time that .1,,b ore
luxury to them, supersedes those other luxuries wl:i:bete•
prejudicial to their health and morals-(Hear)---e; „"ee to
tore take this opportunity of calling upon the ela"-fnot.
place the differential duty on this article upon ,arer,
ing which will admit of its most extensive use•-"-1,01
hear.) At the same time, it appears to we that it is bat
justice that a provision should be introduced into P'.
Customs Bill, increasing the duty on chicerY rZti
In consequence of the reduction of the
on that root last year, chicory-root has atit:e
introduced to a great extent-it is ground "e
country, and mixed with coffee. Ido not say that tier
coffee is deteriorated by the mixture, for that is a nWent
of taste; but the revenue has been defrauded to a grey
extent in losing the duty upon the coffee, for which ,be
root has been substituted. From these changes in not
differential duties, I calculate that the loss will we
be more than 50,000/.-(Hear, hear.) I <foot
now to what I may consider as the
important article-I mean the duty upon w°°)
which which I propose to take off altogether,-(Checnot
Upon the merits of that particular question? it cane,,
be necessary for me to enter at present. In two sifaccuse
sive sessions they have been ably detailed to the ;ino
by the Hon. Member for Halifax, who has takellAnd,
greatest pains with that department of trade. y
Sir, I may here say that, when I have resistea,„l,
claims which were alleged for the reduction of this u'ires
I did so only on account of the claims of the regent
(Hear, hear)-and I never denied that wool was °' t
material of the utmost importance to the maig,ne.)
tures and trade of the country.-(Hear, cod
There has been great competition between British
manufacturers and the foreign cloth manufacturer ; Tee
the least advantage given to the English manufactlithe
of course would place him in a better position thstifty
foreigner. Sir, I do not intend to fallow the example o
Right Hon. Gentleman opposite, of merely partially ren,„et
ing the duty on wool; but I have thought it better to r7ye
both the duty on export and import of wool, and to le :,t
the trade open.-(Cheers.) That duty produced,
year, altogether, about the sum of 100,1;s
and we must take that amount as the tee
which will be sustained on that particular articled to
arrangement respecting which I shall reconitnen hell
the House. But I cannot but feel that, although we 50011
on the article itself sustain a loss, yet we coe'
give an additional stimulus to the industry of the °tg
munity engaged in that branch of our manufacte.
likely to be benefited by this arrangement, which
s boll
lieve will more than compensate for the loss We
not
sustain. This is the last article upon which I I°, r •of
to make any reduction. The total amount Les
reduction will be on glass for the present year 35,u'nete
upon vinegar in the present year, 12,000/-upolio
~c
d,
rants for the present year 9,0001-upon coffee, 51:4001,
-upon marine insurances, 100,0001., and upon 'sea
100,0001., making a sum of about 390 000/. ; or, in r?c, /
numbers 400,0001., as the amount of reduction /0," 00
believe we may safely make. Having road°, of
statement to the House, I should have thought /hove
duty here to close the observations which, I fear, .1 sin
already too long troubled the House with. 80, de
there is one article which, though not immediately
for
the consideration of the House, must necessarily
the subject of very deliberate consideration-and,e the,
respect to which much anxiety is felt with respect no of
views of the Government upon it-I mean the arttc the
sugar. I should not think that I acted fairly twilit if
rersons engaged in the produce of this article' to
I were not on the present occasion distinctly to steltoe
the House the course which it is my intention to Pii
when I move the sugar duties. The House will not
th°
pect me, as I shall so shortly bring before theta ws
details of the question, to enter into all the partici:. 1
necessary to compose an explanation of this sub led
shall merely state the principle upon which II Inoi°
to act; I allude to the subject now only because lee the
immense importance to those connected wi"per
growth and manufacture of sugar distinctly to ofthe
stand before next May what is the determination °Ol.l
Government with respect to that article• Willi
the House is aware that the • treaty tee
Brazil will come to a termination i°, Witb
month of November next, and with that treao, en'
Brazil will terminate the right which Brazil sor
0
joys of importing her produce into this country O,OP °
footing of the most favoured nation. That redill
which enables Brazil to bring slave-grown Poeveu'
into this country e in November next, be re to 're
It is my intention, in moving the sugar duties' meet
commend to the House, that, from and after 14°e0trie".
next, the duty upon sugar produced in those o'7 th°
which are exempt from the taint °'
paeans
slave-trade-that do not raise sugar by resent
of slave labour-shall be reduced from their Serer;
amount. By this means we shall throw open, ' °it
taro regulations, to countries eastward of theil
Good Hope, a valuable trade, and shit, wit°
especially encourage the growing connac'ur
China, with which country, hitherto, , this 101_
lations have been extremely confined. Ati° prieciPlou
be done without any departure from that respect to
we have hitherto maintained and acted upon in supPv
ofth the
sugar,slave w hi
which trade-thus
will affordinggreatly an
add a dt
od i t ito;
sepotrr fOro,
of the people, and give an additioneaithe re.tets
the industry of colonies in which we have vonolr.'„
est possible interest. In thus speaking oust i'ph
eastward of the Cape of Good HoPe, roe to such
press upon the House that I refer only. sugar
with which we have relations, and wherehieu differearea
is not raised by means of slavery. Sir,
of
dutyon s
sugars
sh Ifr sohma I 1
countries
st o thi
Bri front
usliaaviesruygawrisllpbaeylaOsd.uptyerocfw2t4.s-.
ptheratewwth.e, rtehase_
scuwio.,rfli
the countries I refer to shall pay 345• per. the .treaty
quite aware it may be said- that ttlthoilg" •
frees }i
fromus e t tt
t :111Ptc°0

Martel
It Wol
the dl
found
will b
that
the tt
eqursk

there is a%
d pounds, Yaw
five shilling*
four shillings,
I ten shilliag
to reduce tas:
the advalits
In order to e
ity, but to Off
present rate.,„,
ere the pram";
levied anmiln
m exceeds 15,a'.,
6d. per cea,''''
'counts to 55 r
1 insurance/I.A,i
and to varY
For every ita"
not exceed rest;
F ls. 3d. ; " of
but does
Ld of is. 3ti
; at Preansnos
s not exceed
does not rice ;
)s. but does no
szls 50s. butt :
it is above 61
the course.:
revenue 'r
nt to 10090 n,
"/
.7,e
iourse of 137111
change $
'n
ible increase lto
this cotoltrisp
entry will red
ould be dent,
is reductioo.o
partially
nents andd ,
ales,
but tho'
very swag 11,5,
to trouble
of articles cs,
articles of ri
in mentiooti!
tr of the 1011-e,
s and laughter:),
and is, therefor.
we consider O.!
nposed upoq.l!
if the countrl
of its wed 1:
lee of one cool
on this CWre
Now, wha
tpEIl
s after
srticle °t
0i
ver orders
ury agreeaby
th,
?neral heal
_,
is in the low
large one•
currants frcr
;ument also is
0
re the ns"„
intimate c 0 "r
nt in fa/I°s
'ololoting
rces are ehie!a
mainly dell°
do not cm:
atever may
Lust at least
' ,i;
as regal.
er feet fairne.s:
could inentwe
—I think of
of 50,0001.°,1
calculate 5,,1;
of revenue..,:r.
: upon thi' rPao
a great deg,
h ice
!e at w-- all
h I would c
-(Hear, het"
neral arraar;
he distinc Via,
re fixed 0
a _nci
a the one, a",
dot;
minating, be
5 value of. ed
ly maintita%,
red in eey)
y difficult s
ay on foreftc
have thon?.re,
have beenif of
fail royseh • •
those negetrnie,
louse to 6a,
scl. to
examinatL°
admit On,
ountry,
,a
tly to rr; of
the coorstios
the reclo'tbot
to lesix
tead
e
jag tO,
,0
the
ItlXtlr) is a
a that 1' el
603 which
ieh
1 the
sr— to
the lionse•
9
upon gear,
that it is bit
iced into th:
!hieory
the
,„„0111'0
has be;,
mud in i,e
say that 1'
tier
It is a ma
ed to a grrfe
,r which t 9
ranges in the
)ss will o
) I n°ll3t
the oil,
upon
hO.)
~—(Cee
3n/ it
two suL—se
o the WI,
5 taken
rade.
resisted tbe
of this dutit
to revetin
)1 was s o
tQ n-a,
mane ~..)
[ear,
3ritish coJ
cturer ; nnrer
lanufactuthe
ion than rye
'ample of
tidily educ.
1* wit
,tter to e
and to le,‘",ct
.odue, el_
theloo, 1003
the
article, Ato
igh we
t we 00'
if the e
bes
a nufac. ,
which hog
)SS We sose
I Prof, r of
imottmv
r 35,t)00
ppr'
—uponooo/,
ae, 5°';„01,
upr rid
nr in I'o
iohi thi3
n3;laldv
night it
Fear, I
But' der
ately
sarilv fo,;th
"the.
;pect tclie of
ic neje the
°ward,' if
artici,e,' to
to star
to Pu'ec
vill not the
theta .t
oarlolls I
I int
1 k°
se : tb
d
to a°, the
ion °`
cle.
aty the
in
14.0
res*:, err
i 00-
ry aff°eoti
at duce
pro-,ea,
reol°` re-
-ICS, t 0
,iaber
cOYe7ieg
C0111:1' the
Of 05
Plea
pys t
r P'
der ceri
J',-cope 0
, oost
1h with
roe re-
curill
w this le
poriclito
resPec
a suPP t
con'
r t°
spa
ask
ie gr-es
countr;,l,
anat.
sac
to
he Btift-1
ffeceatta
impOS."
°L
taint ll
CISII from
~arsl aid
t•
treaty

:with Brazil is brought to a conclusion there is a treaty
with America, which contains a similar cladse to the
et lea and entitles America to the rights extended by us t,,
the most-favoared nation. Nothing can be further from
my intention than to infringe the letter of any enact-
ment existing with that or any other country, but I
think when we take the discussion on the sugar duties I
shall be .able to show that the sugar produced in the
southern states of North America is not calculated to
be brought into competition wi-h the sugar, the pro lute
of free labour, I have now been speaking of. I can
assure you, Sir, it would have bean most satisfactory to
me if the state of the revenue would have permitted me
to make some general arrangement of a per-
lament nature with respect to the sugar duties.
It would have been desirable to place the reduction of
the duty on colonial sugar on a solid and p-rinanent
foundation ; but it is obvious that till November next it
.will be utterly impossible to act upon any principle of
that description, for the doing so would paralyse all
the trade in the interior. I think tlait the better
course will be to admit fer.!ign sager, at a die-
eliminating duty, and continue it till that periol . hall
arrive when the sugar duties come again wider conside-
ration. In doing this, far be it from me to entertain any
ill feeling toward`those countries who e sugar will re-
main excluded. I think the reduction ee have made in
the coffee of those countries proses sufficiently that no
such feeling 'inimates the Government. With respect
to the amount, both of the fixed duty and the
differential duty, I have been anxious to take that
ameunt which represents, as nearly as possible, the ad-
vantage which I apprehend ought to be given to colonial
or foreign sugar—to free-grown sugar above that pro-
• duced by slave labour. I have now stated to the House
the details of our financial plan for the last year and for
that which is to come ; and I trust the House will per-
mit me, without assuming an) thing like arrogance or
Presumption, to congratulate it oa the generally improved
condition of our manufactures 'tad commerce.
It is perhaps of all tasks the most difficult to arrest the
downward progress of revenue arising from deficiency
extending over a series of years. With respect to this,
the House has fulfilled its assurance to the Crown, of
making the revenue of the ccuntry equal to its expendi-
ture. They have, in the course of this session, given
• evident proof of the effect which their conduct has had
on the credit of the country, and I cannot but hope, that
if the House goes on in tha prudent and forbearing
c!'"rse they have _hitherto pursued, and which I have
taken the liberty of recommending to them this even-
, oftl„,,if.,.they. prefer to a present advantage the policy
autfic:l"g the finances of the country on a solid looting;
pr4r ent not only
to meet an annual deficiency, but to
ere tect us from those vicissitudes of fortune to which
complicated concerns of a great country like this
must necessarily be exposed, I believe that the House i Willinsure to this country a continuance of its prospe-
ntb, and will essentially promote the happiness of the
Whole empire.—(Cheers.)
The question having been put,
Mr. HUME said it was but justice to the Right
non. the Chancellor of the Exchequer to say, that his
statement was extremely clear, and in s Mme respects se-
. tisfaetery. He was one that did net expect so favour-
.. able a result on the state of the country as had been
etateilby the Right Hon. Gentleman. He congratulated
the country on its improved state, but he could
not do so .with_ respect to the continued taxation that
the `-Bight Honourable Gentle nan had alluded to.
a4,e thought it was the duty of the House to raise the
lowest amount of revenue th-y possibly could. The
revenue of the country had been the same for the
las t 12 years, but the expenditure had increased.
• 't great -increase had taken place in the war establish-
- ment of the country during 1833, 1837, and 1839. He
Protested against such an evil, and he therefore thought
Itat the present Government should proceed to reduce
aae establishments with as great avidity as they had
been increased. The revenue of 1834 and 1843 was of
we same amount within 200,000/., and there
as no income-tax in the former year. He did
11,°t wish to have the income-tax done away with
the taxation on other articles- was reduced
to
the same ,amount.—(Hear, hear.) He wished to
.i,a‘re the duties on soap, and paper, and glass reduced.
,alle did -nnt think the reduction on the latter article
°llld any great benefit. If the duty on all glass
"
-48 repealed it would be of the greatest
Ilvantage to the country. No country was so well
ralified for the manufacture of the finest glass as
ngland._,(Hear, hear.) He believed the expenses of
c°l.lecting the revenue on glass absorbed the whole duty,
• trLd he thought the late Government committed a great
Oat when they reduced the duty by 2d. with
diminishing , the expenses of collecting it.
•~Q eloped the Right Hon. Qentleman would see the ne-
e.‘`aity of removing the duty on glass altogether. Let
41elli look at our present position in this respect. The
Americans, though having to pay a duty of 20 per cent.,
Could sell glass at a lower rate in this country than we
Zirselves could. Bohemia, and every other country that
• f 41111f:toured glass, though the materials of the menu-
rture were dearer there than in England, could sell
a
lass at a much lower rate, and of a superior quality,
re" we could. That was in consequence of our maim-
eturers being prevented by the Excise from snaking
tilos
e experiments which manufacturers of othereoun-
i"es made. England, that ought to be the first country
t,l the manufacture, was only a fourth or fifth-rate ne-
tt." in that. Why should we not, instead of supporting
; tags
establishment in a time of profound peace, disband
g* of those unnecessary troops, and apply the saving
thus caused to the nation to the reduction of
0e taxation that pressed upon the poorer classes ?
aa was sorry that the Right Hon. Gentleman did not
cePose to make any reduction in the duty on cotton
001. The competition to which the cotton menu-
eture was enposed, from Germany and from other
eonntries, was very vest, and the continuance of the
duty on the importation of raw cotton was very inju-
"L ,4cus, It appeared to him that the Budget was ex-
ete, dingly unsatisfactory.- The revenue was ample, and
I.ezation ought to be taken off those articles, the con-
.,,,'lnuption of which affected the industry of the country.
„r'lle,Y ought to set free all those branches of industry
;r1 were hampered by the Excise-laws. The only
teaaea .giaing employment to the people was by ex-
only manufactures and commerce, and that could be
Whieh dote; by repealing those duties, the imposition of
then, 'essened the ability of the manufacturers to give
Male. ernPloyment. The army estimates, the navy
estimates ought
tile ordnance estimates, and the miscellaneous
• ates to be reduced. • Four millions
ruight e
,L saved by the reduction in those estimates, and
that reduction they might make, a clear sweep
lie all those articles which were subject to the Excise.
tao !I? o.ltght the duty on marine insurances was
,still
high- The highest amount of duty on marine in-
it. the duty u
not to exceed 2s. or 2s. 6d. per cent., and
ht,jue duty had been reduced to that amount, instead of
ng' a decrease it would have effected an increase to
theher revenue of the country by drawing foreign insurances
e• The shipping interest was the most depressed of
fa the great interests of the country, and it was entitled
rinrelief • He approved of the reduction of the duty on
ei„€.gav, but thought that the import duty on foreign
at",,egar _should have been removed. Vinegar was a
111unPoly in this country, and its price was higher than
th an,Y other part of the world. • He was glad to find
liiclLet 'toe duty on currants was to be reduced, and would
fr to see a reduction in the duty on every species of
This reducti(M would be a boon to the lonian
to7tis, a benefit to the consumer, and would be no loss
.titne revenue. He also approved of the reduction ot the
etat•v-en coffee., With regard to sugar, he disapproved
irely of the, imposition of differential duties,
%ad h
th e thought tie principle of refusing to admit sugar
„47 produce of slave cultivation was a 'nest mistaken
coffee.
hear.) If we refused to admit cotton, and
ht and tobacco, and other articles, the produce of
, 'le labour, he could understand the principle ; but he
, not understand why an exception should be made
lithe article of sugar. In consequence of acting on
tills Principle, we had already quarrelled with the Bra-
(lC and the result would be. that four eailliens
*a, British maaufactures, which were annually
thtenrted to that country would be excluded from
tt"se markets. He had seen letters from Paris, in which
ellhd hi aston—
ish •
are•43nsequence of a letter which had been written by the
resident of the Board of Trade to the Brazilian Minis-
a‘a .1n this country. On the failure of the negotiations
etch hail been carried on by our Minister at Rio, the
tari,az.ilian Minister in this country had entered into (tom-
-4,l4leation with the plenipotentiary of this country to
11-"*- in what terms we would admit the produce of the
Nails, and the Right. Hon. Gentleman in his answer had
Pressed the determination of the Government to have
11 thing to do with slave-groWn sugar. Our trade with
Nei
to a, would therefore, altogether cease, and would go
t-,a/errnany, France, and other countries; or, even if our
Mls were admitted to the. Brazilian market, the '
d,47, of Germany would, as was the case with America,
N.u.uttitted at a preferential duty. Now, was it
eor le to believe that, under these circumstances, we
litaati carry ' on any trade with the Brazils?
aft regard to the duty on cotton wool, it pressed with
sor:enle. severity on the manufacturers, and he was
kir Y the Right Hon. Gentleman had not thought pro-
tO reduce it. The naval and military establishments,
aoultlat again repeat, ought to be lowered. There was
..,,neeessity for such an enormous force in time of peace
tatta time when they had assurances from the throne of
tty friendly dispositions of foreign Powers. The coun-
tionwas. after all, in anything but a flourishing condi-
tea;""wages were low, employment was scarce, and
cloth's were heavy. Everything ought. therefore, to be
. Li: to remove these burdens. Parliament possessed
leciiP°wer, and to Parliament the people had a right to
The duties on those excisable articles, which
ne 'I general consumption, should at once be lowered,
tot the income-tax ought to cease, for it was impossible
ip
:o see that this tax affected the working population
,„svevy sensible manner. He complained of these
fflnees, and called for their redress in the name of a
seer7,g and distressed people, who had long borne the
ata Cties of their condition in the most patient and ex-
manner.—(Hear.)
th r• WILLIAMS had been greatly disappointed at
aatsPropositions of the Right Hon. Gentleman. There
how
unlY a reduction of 400,0001. after 8,000,000/. of
kuu taxation had been added. He did not think the
a 1 _nation.
or the country had the slightest grounds for con-
, 4,._ iation. Sugar was an4arliele of universal con-
- eauld riol:o..n: and he regretted the Right Hon. Gentleman
fifttv thought fit to make extensive reductions in the
While" this commodity. A reduction might be made
ree„ ut any great risk of a material diminution of the
11,0,'"ne. He was also much disappointed that the Right
1.• • Gentleman had not included cotton wool among
r,tolieoductions. He feared the income-tax, instead of a
The re.ry tax to remove pressing necessities, would, in
Nanceands of the present. Government and nnder, the in!:
reaoe., the principles supported by them, prove a per-
s.3s,"_,L burden. The income-tax produced last year
2`):3°7ooo,LooTohle balance of the revenue over the expenditure
~ leaving a deficiency, supposing the income-
Pt-lw"e taken off, amounting to 3,000,000/. The stir-
".revenue ought to be applied towards remedying thp

t deficiency which might be caused by the reduction of
' the duty on sugar and other necessary articles of general
consumption. The amount of the expenditure for the
army, navy, and ordnance, this year, was estimated at
17,700,0001. In 1335, when the Right Hon. Baronet
was at the head of the Government also, the expenditure
for these three departments was only 14,125,0001., and it
was still less in 1836, when the Whig Government was
in office. lie saw no reason why 3,000,0001. more should
be expended this year, and he thought the Right Hon.
Baronet should tell the House and the country why it
was so.—(Hear, hear.) The taxes taken out of the
pockets of the people this year, and the expenses of
c Meeting them, amounted to more than 56,000,000/.
sterlisg. The Right Hon. Baronet had; some time ago,
stated that they had arrived at the limit of taxation on
articles of g nt rat consumption. Such was certainly the
ease, and in time of war they would have no resource
but an increased property-tax. In 1814, when we were
at war, the estimates for the army, navy, and ordnance,
e ere only 4,380,030/. Look at the vast difference between
the expenditure in that year and in this. The Hon.
Gent:email concluded, as he ha.l begun, by expressing
his entire dissatisfaction at tse contents of the Budget.
Mr. MATTHEW BELL regretted the Right Hon.
Gentleman had not thought it tight to reduce the duty
on coals. The lion. Gentleiian then read several doctr-
ments, from w ich it appeared that the consumption of
coal, since the imposition of the tax by the present Go-
vernment. in 1842, h at greatly diminished. The con-
sumption of coal had decreased in one year to the value
of 70,000/. ; and he appeal.d to the Government, whe-
ther it was pol:ti • to maintain the. present high duty on
the export of coal. I le maintained that the Government,
instead of imposing a duty on the exp•.rt of coal, ought
to eve every possible facility to the exportation of that
article. It was generally supposed that the manufac-
tories on the Continent were supplied with English coal;
but this was a fallacy, for he had been informed that out
of all the coal exported, not one-eighth part found its way
to the manufactories of the Continent. He concluded by
expressing a hope that the Government would next year
abolish the duty which was at present imposed on the
exportation of coal.
Mr. BARING said, there was one point which was
worthy of their consideration, and that was, what would
the commercial prospects of the Government now have
been if the income-tax had not been imposed ? Ile
thought this was not an unfair subject for consideration.
Now he found that in the year 1840, the Right Hon.
Baronet stated that the revenue was 48,350,0001., and
that the Chinese money which
.was to come in was
803,0001., making together the sum of 49,153,000/. Now,
from the balance sheet of. That year, it appeared that
the expenditure was 48,669,0001., leaving a surplus of
revenue over expenditure of 488,000/. He thought it
was worth while to look into this. He would not fol-
low the figures for the succeeding years, but his own
impression was, that the revenue would have gone on
increasing, even if the income-tax had not been imposed.
Of course in saying this, he did not mean that it would
have increased in such manner as to have admitted of
these reductions in the taxation of the country, which
the income-tax had enabled the Right Hon. Gentleman
to make. Now, with respect to one of those reductions,
he would just make one or two observations.. He al-
luded to the article of timber,. and he confessed that the
anticipations which were enteTtained by the Government
when the reduction in the duty on this article was made
did not appear to him to have been realised. He recol-
lected at the time that reduction was proposed, saying
that it would ultimately give considerable relief, but that
a great length of time must intervene before it could do
so. The Right Hon. Gentleman estimated the loss from
the reduction of the timber duties at about 600,0001.,
even if no additional consumption should result from the
reduction in the duty. Now, instead of the loss being
600,0001., it had turned out to be 898,0001., being nearly
50 per cent. more than the estimated loss. But it
was not so much with the past they had to
deal as with the present. One great omission
in the Right Honourable Gentleman's speech was
with regard to the continuance of the income-tax.—
(Hey, hear.) No mention had been matte by the Right
Hon. Gentleman, whether it was the intention of the
Government to continue the income- tax beyond the three
years or not. It was upon this consideration that all
their financial calculations must hang ; and he thought
the more manly course of policy would have been to
have declared whether it was the intention to continue
the income-tax for three years longer, or whether it was
intended to cease, as originally intended, next year. The
only mention which was made of this subject by the
Right Hon. Gentleman was, that he intended to leave
it to be settled by the House next year. With respect
to the reductions proposed by the Right Honour-
able Gentleman, he was bound to say that he
could see nothing to .complain of respecting them.
He was very glad to find that a reduction was to take
place in the duty on glass, not so much on account of
the reduction, as the stimulus it would give to trade.
He would venture to hope that the Government would
reduce the Customs' duty on this article as well as the
Excise duty.—(Hear, hear.) He was glad to find that
a reduction was contemplated in the stamp duties on
marine insurance, and upon the article of currants, both
of which reductions must prove beneficial to the country.
With the reduction of the duty on coffee he was parti-
cularly satisfied, as it was a step in that course which
was directed towards the abolition of differential ditties,
which had been ton long disregarded. There was
however one thing disagreeable in this part of the
Right Hon. Gentleman's propositions, and that was
the proposal to increase the duty upon the article
of chicory. He could not understand the policy of im-
posing a heavy duty on the importation of such an
article as chicory ; for he remembered some years ago,
that the importation of this article was prohibited
by the. Board of Trade, and the result was, that chi-
cory was afterwards largely cultivated in this country.
He had considerable doubt on his mind whether the
reduction of the duty upon this article, which had been
proposed by the Right Hon. Gentleman, would effect
the good which he promised, but in saying this he did
not affirm that the admixture of chicory with coffee
tended to injure it, for on the Continent it was gene-
rally used for that purpose,'where' it was found to be a
great improvement. But those were small matters as
compared with others, one of the most important of
which was the reduction of the duty upon sugar. He
(Mr. Baring) was most anxious to see how the
Right Hon. Gentleman would get out of the difficulty
which his resolution upon this subject entailed upon him,
for it certainly surprised him that the Right
Honourable Gentleman should come with such a
resolution as this. He thought that the manner
in which the Right Honourable Gentleman acted
with respect to sugar in comparison with the admission
of coffee from the Brazils was rather curious. It was
something like saying, " Yes, but the course we propose
taking can be called only a very small fault."
Why this answer put him in mind of the young girl
who was brought before a magistrate on the charge of
being the mother of an illegitimate child, when she
acknowledged the fact, but by way of palliation, ad-
ded that it was only a very little bastard.—(Laughter.)
He thought if they were actuated by this conscientious
conviction against giving a stimulus to the slave trade, he
thought they must acknowledge that the large quantity
of sugar which would -be taken out of the European
market would tend in an indirect manner to increase
slavery. The quantity of sugar consumed in Europe
was 673,000 tons, of. which 240,000 tons came from the
British colonies to this country, thys leaving for the
'consumption of the European market the number on the
average of ;about 409 tons. Now if they took 95,000
tons; the amount of free-labour sugar from the colonies,
from the 'market of Europe, about one-fifth the whole;
consumption, -*hat he would ask would be the likely
result ? Why the demand would be greater than the
supply, and
.the prices would consequently rise, and he
contended that it was, equally indifferent whether they
took that 95,000 tons of sugar out of a slave labour
country or otherwise, -for by the course he had just
pointed out slavery would be increased through the
medium of the continental States. Yet the Government
satisfied themselves of their consistent advocacy .now of
principles upon which they came into office. He.con-
tended that by the course proposed by this. resolution
they would give quite as strong a stimulus to the slave
trade by taking those 95,000 tons of sugar from a free
State as they would if they took them from the Brazils.
Sir ROBERT PEEL thought the charge which the
Right Honourable Gentleman opposite brought for-
ward against her Majesty's Government of
consistency was without foundation. It had been
said, why do not you, who urged all those objections on
the subject of slavery, admit sugar, the produce of free
labour, into competition with your own merchants. He
recollected the lion. Member for Dublin, when he sat
on the then Ministerial side of the House, during the
late Administration, giving notice of a motion that all
sugar, the produce of free labour, should be admitted
into equal competition with that of their own colonies.
Now, suppose they chose to admit, on the grounds
urged by the Hon. Gentleman, namely, that diminishing
the duty, Would be offering a premium to the ad-
mission of slave-grown sugar—it was clear that if they
did so, they would be charged with a desire to maintain
the monopoly of the West Indian colonies, that they
were not actuated by any objection to the admission of
slave-grown sugar, but solely by a desire to preserve the ,
monopoly; and he felt sure that this would have been
most strongly urged against them if they, had
not availed themselves of the earliest consistent
opportunity to allow sugar, the produce of free la-
bour,.to enter into competition with the British colonies.
With respect to the arguments and objections of the
Hon. Member. for Montrose, and the Hon. Member for
Coventry,. he thought they could be easily refuted. The
chief gist of their arguments was, that they -ought to re-
duce the estimates, in order 'that they might do away
with import duties. No Member of that House was
more deeply impressed with the fact than he was, that
the estimates ought to be reduced to the. lowest point
which was consistent with the permanent safety Of the,
empire. But the House must be aware that there were
circumstances connected with the last few years, which
must have materially increased the expenses. The esti-'
mates for the army, navy, and ordnance, had been already
submitted to the House; and looking to their immense co- .
lonial empire, and to the other facts in connection with
foreign nations, upon which the Government must
have the best means of being informed, it was the
unanimous opinion of the House that the estimates could
not safely be reduced. The Hon. Gentleman, the
Member for Montrose, had stated that in the year 1835,
when he (Sir R. Peel) was First Lord of the Treasury,
he had proposed the sum of only 14,000,000/. for the
estimates, and yet that this year they exceeded the sum
of 17,000,0001. There had beet} a ppat increase in the
expense of the army and navy. Let the lion. Member
for Montrose consider what had occurred since the year
1835—the vast and important events which had occurred
in the East. Let him consider what was the amount of
expense incurred by the Chinese war alone. Although
those great struggles had now, to a certain extent,
ceased, yet the Hon, Member must know that it was
not so easy tb make those reductions immediately. It
was not what was necessary for the yt4ut, 1835
the House had to consider, but .what thU
I,ozigencieS. _of the present time _required, --What

he would ask, could be the interest of Ministers in in--
: creasing the estimates beyond what the interest of the
country dsmandel ? Why, it would be -mush more
grateful to their feelings to have a surplus revenue to
show, in consequence of a reduction, than any advantage
they could derive from the results of patronage. The
douse had to consider how many regiments had
been now abroad for upwards of twenty years without
being once relieved. What he wanted to show was,
that when tit- y considered the forces which were re-
' quireci for service in India, Canada, and every other part
of the world, they could not make any reduction in the
army for this year, without either endangering the em-
pire, or doing a gross and palpab'e act of injustice to the
men. With respect to the expenses of our colonial
possessions, alluded to by the Honourable Gen-
tleman opposite, he (Sir Robert Peel) asked
the House to consider that the mother country
had entered into certain relations with those colonies
which it would be most dangerous and unjust to disturb.
Then with respect to the navy estimates. He agreed with
the Hon. Member for Coventry, that they were larger than
those for the years 1843-4. But he would ask any Hon.
Member, was this any criterion to go by? The Hon.
Member for Montrose always went as far back as the
year 1790. But when Mr. Pitt spoke in the years 1793-4,
he said any reduction in these estimates at that time
would have been inconsistent with the interests of the
country. He would appeal to any Hon. Member in that
House—always excepting the Hon. Member for Mon-
trose, and the Hon. Member for Coventry—whether they
believed that it would be safe to have the Navy in the
same state in the year 1844, as it was in the
year 1792 ? If they were blind enough
to overlook the efforts other countries were making to,
lay the foundations of immense territory, and the large
preparations they were making for any hostile event—
if the House chose to subject their marine commerce to
the chances of being -attacked by powerful nations—if
they remained inert, and took no corresponding or
counteracting measures, he, for one, should tell them
that try were acting quite inconsistently with rational
views. He would ask them would they go back to the
year 1790, so much boasted of by the Honour-
able Member opposite ? If they were over-
taken suddenly by any calamity for which
they were unprepared, and found their commercial
marine swept away, what consolation would it be
that the navy of this day was equal to that of 1791?
He would venture to say that the Government of the
day would be called arrant dolts. But he had great
confidence in the House of Commons, which was always
aware that Government must have cognizance of certain
facts which must necessarily be unknown to them. He
thought no one could deny the necessity and justice of
affording those soldiers who had been so many years abroad
an opportunity of once again seeing their native country.
'rher. fore he could not lead the House to hope for any
great saving in the large branches of the public service,
but this he would say, that there was not in those esti-
mates a thousand pounds that had been lightly asked for,
or that would be uselessly spent. Allusion had been
particularly made, in the course of the evening, to the
coal trade. As there was no distinct proposition before
the House upon that subject, he was not inclined to
follow his Hon. Friend in his calculations, bnt he must be
allowed to say that the amount of coal exported did not
show that extremity of pressure which had been foretold.
The amount ofcoal exported in 1843, includingcinders and
ashes was 1,866,000 tons. If they compared the amount
of coal exported last year with 1842, there certainly was
a diminution ; but it must be recollected that in the
course of that year it became known that the duty was
coming into operation, and in one quarter of that year
there had been great increased exertion. But last year
the total amount of coal exported exceeded that of 1841.
Of course he (Sir R. Peel) included small coal as well as
large. In the year 1841 1,848,000 tons had been ex-
ported, and in 1843 1,866,000 tons ; so that, in fact,
there had been an absolute increase, notwithstanding the
operation of the duty. He did not say that he vindicated
this tax as good in principle, but he did say that
when new taxation became necessary, it was a justifiable
one, and the extent of the evil which had been foretold,
and which he had denied at the time was not such as to
cause any serious injury or inconvenience to the public
interest. But the Right Hon. Gentleman opposite (Mr.
Baring) complained that the Government made no pro-
posal with respect to the renewal or the discontinuance
of the income-tax. The income-tax would not expire
till next year ; and he (Sir R. Peel) must say, that it
appeared to him much more conformable to common
sense to wait until the period when it was about to
expire, when they would have an opportunity of knowing
the real state of the country, its means and its necessities,
than to decide upon the matter now, when they must
do it under comparative disadvantage.—(Hear.) Most
certainly the probabilities were that, in the coming year,
Parliament would be muchbetter able to discuss and to
decide that question than now. The House and the
country lost nothing by abstaining from the question
—they gained nothing by a premature discussion, and
why then should they enter upon one?—(Bear, hear.)
When his Right Hon. Friend (Mr. Goulburn) had stated
in the course of his address to the House, that the in-
come-tax had been originally proposed not for three, but
for five years, he was met by rather that sort of incre-
dulous murmur, which indicated a feeling of disbelief.
Therefore he (Sir R. Peel) wished to re-state to the
House that which had fallen from him in March, 1842,
on the occasion of bringing forward this measure.
Upon that occasion he said—" He would now state to
the House what were the views of the Government with
respect to the duration of this tax. He trusted Parlia-
ment would confirm the duration he was about to pro-
pose, and that Parliament would not be unwilling, in
case of necessity, to continue the duration of the tax for
a period of five years; bet still there might be, as there
had been before, those revivals of prosperity
which might induce Parliament to consider the sub-
ject with a view to recalling the tax in a less period
than that he had stated. Therefore he thought it
just in the first instance, to limit the experiment of the
income-tax to three years, in order that Parliament
might, at that time, have the power of rescinding it at
once, or of continuing it for the further period of the
two years." That was what he had said when proposing
the tax ; and if now, at the end of two years from its
Ho
ob‘timp
h,uaety discussiono
carriedsi
a ottin, t
foon htti
taunt, omuw:nhGo
the,
eal:!n,laderinr and that
h pi
eternisohdena invited
fdd
fiv ecease
ythe
years,
eris,t
year,
to
the
would not
nbe
o ot
the passage he had just quoted have bean thrown
destielravtedlbyy thtrhoewnveroyut,
men
who now supported Ministers, for not speaking defini-
tively and positively upon the subject?—(Hear, hear.)
If, next year, it should be the opinion of the House that
the income-tax should be taken off—that the circum-
stances of the country permitted it—or that the interests
of the country required it—well and good ; but it would
not be right to propose any great reductions in taxation
until the state of the country, in reference to the conti-
nuance or discontinuance of this tax, could lab fully
gone into, and fairly decided upon.—(Hear, hear.)
When that time came, it might be that there would
be shown such an increase in the productiveness
of the country that Parliament could do away
with the tvil. At the same time, it must be
recollected that there were certain burdens which
pressed so heavily on 'the springs of industry- that it
must ever be a leading desire of ally Government to re-
duce or to do away with them. He must say that when
the deputations from Yorkshire waited upon Ministers
he listened to their statements with the deepest atten•
tion, though he had maintained throughout a respectful -
silence. But after what he and his colleagues had heard
from these deputations of the state of affairs in the
woollen districts they had made up their minds, quietly
but fully, that so soon as ever the state of the revenue
would allow of it, that branch of our manufactures
should be relieved from the burthen of the tax on the
raw material.—(Hear, hear.) Now, in the reduction
proposed in our marine insurances, he (Sir R. Peel) be
lieved there would ultimately be no loss to the revenue
of the country. It was, in fact, a reduction of the cost
price of the elements of our manufactures—(Hear,
hear)
—and he hoped it would also have the effect of drawing
to this country insurances now effected abroad. The
Right Hon. Member for Portsmouth (Mr. Baring) harthad d one thsm the justice to state that, seeing they
wnuld only act upon a sum of 400,0001., it was not pos-
sible they could have selected better articles to make.
reductions on. The amount which the Government
had • put aside for reductions might be small,
but the House would observe that those reductions
were made in conformity with those general principles
which had been laid down at the time of the introduc-
tion of the tariff. He said those reductions were made
in conformity with the general principles he (Sir R.
Peel) had then enunciated, and they had been made in a
manner to relieve the industry and enterprise of the
country. Above all, though he admitted the reductions
were light and trivial in amount, they were such as were
most likely to increase the comforts and luxuries of that
class of her Majesty's subjects who depended on their
manual labour for their subsicence, and therefore he
trusted they would meet with the general concurrence of
the House.—(Hear, hear.)
Mr. LABOUCHERE said that with regard to the
income-tax no man in that House had more strenuously
opposed it when first proposed than he had done, but
the House having agreed to its imposition, the ques-
tion did not now stand in precisely the same position as
it then did. And certainly he had come down to the
House that evening rather expecting (inasmuch as
there was no reasonable chance of the repeal of the in-
come-tax) that the Right Hon. Baronet (Sir R. Peel)
would propose its continuance for the two years longer,
accompanying that proposition with some large, wise,
and liberal measures for the relief of our commerce—and
had he done so then for one he (Mr. Labouchere) should
. have been prepared to give a ready consent to such
suggestion. Had the Right Hon. Baronet for instance
been prepared to deal in a large and liberal spirit with
sugar, and other great articles of consumption, in which
there might, and- no doubt would have been, an imme-
diate loss of revenue, but which might have recovered
before the expiration of three years, he (Mr. La-
bouchere) should have -considered it to be wise on the
part of the House and the country, to have acquiesced
in the lengthened continuance to the five years originally
mentioned of the income-tax, evil though it was. With
regard to the articles selected for a reduction of duty
:he certainly approved of them, but more especially the
articles of wool and coffee. He anticipated great ad-
voltage to the trade of the country from these reduc-
tions; and having only this surd of 400,0001. to deal
I with he was not prepared- to say the Government had
not made as wise a selection as they well could do. He
did not, however, see why they were not to deal with
other articles which, when the tariff had been intro-
+ duced, had been postponed on the ground that negotia-
tions wese ping pn with foreign countries in
reference to them. With • France, as well 44
with Brazil, our efforts at negotiation had failed,
and he did not see why they were longer to
postpone dealing with articles--s such, for instance, as
silks and brandies (wine he would not allude to)—from
a re-arrangement of the duties upon whiCh there would
he no loSs to the revenue, whilst smuggling lipid be put
an en 4 Bgt th.ere Was one' announcement by the
Chail4:4ll9l' of theFsisclaquei of SR 49 la fi 't 1* at
g