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

reckoned would amount to 21,500,0001., and the Ex-

vise to 13,000,0001., the Property-tax to 5,100,0001.,
and with the other taxes the total amount would be

61,790,000/. After some other details respecting
the income and expenditure of the country, he ad-
verted with much satisfaction to the reduction of the
Three-and-Half per Cent. stock, and praised the House
and the country for the manner in which they had
supported him in a plan which reduced the in-
terest on the enormous sum of 250,000,0001. The
number of dissentients hardly required notice, they
were so small, the total amount being only 247,1101.,
and the greater proportion of that amount arose from
the circumstance that residents abroad, and chiefly in
the colonies, had not yet signified their intentions. It
was probable, however, that in due time the greater
part of them would signify their assent, and the num-
ber of dissentients would amount to a mere trifle. To
pay off these dissentients, he proposed to set apart
200,0001. The total expenditure of the year he cal-
culated at 48,643,1701., the amount of the revenue at
51,790,0001., leaving a surplus of 3,146,8301. Next
came the reduction of taxation, and we regret it is
so meagre. The first reduction he proposed was one
on glass, which would amount to 45,0001. The
second was a reduction of the excise on the article
of vinegar. This announcement excited loud laugh-
ter. He then endeavoured to repress the laughter by
showing the importance of the article in various
trades and manufactures, but without effect. The
laughter still continued, and he proceeded to another
item, which he said was one of considerable import-
ance—marine insurance. He then stated the re-
ductions in detail, which, on the whole, would
amount to 100,0001. He also proposed to reduce the
stamp duty, on agreements made by railway com-
panies. The next proposed reduction also excited
loud laughter. " I mean," said he, " a reduc-
tion in the article of currants.—(Laughter.) Now,
what are. -currants ? They are but grapes after
all.— (Continued laughter.) I propose to re-
duce the duty. on currants from 225. to 1.55.,"
which would make a sacrifice of about 90,0001. On
coffee imported from foreign States he would also
make a reduction. The duty at present is Bd., and
he proposed to reduce it to 6d. From this change,
and another on chicoree root, be calculated a diminu-
tion of revenue to the amount of 50,0001. On foreign
wool, which he considered the most important item,
he proposed to'take off the entire duty, which last year
amounted to 100,0001. The total reduction on glass,
vinegar, currants, coffee, marine insurances, and wool,
would amount in round numbers to 400,0001. With
regard to sugar, he said it was his intention to move,
when the treaty with Brazil expired in November
next, a reduction on all sugars exempt from the
slave trade, Which would throw open all the countries
eastward of :the Cape, and thereby encourage the
trade with China. According to this arrangement,
therefore, no reduction will take place on this neces-
sary article of life till next session. The Right Hon.
Gentleman, after some flourishes about the prosperity
of the country and the forbearance of the House of
Commons, concluded his long speech amid cheers.
Mr. HUME expressed great dissatisfaction that the
reductions were not greater, while he commended the
Government for some of the proposed changes. They
ought not, he said, to go on in this higgling manner ;
they ought to set free all those branches of industry
which were fettered by the Excise and Custom .laws.
They might also reduce the army, navy. ordnance,
and miscellaneous estimates, and make a saving of
4,000,0001. a year.
Mr. 'WILLIAMS also expressed his regret that
larger reductions had not been made, and expressed
his firm conviction that the income-tax, instead of
being temporary, would be perpetual.
Mr. Baum said one great omission of the Right
Hon. Gentleman was with regard to the
income-tax ; no mention had been made whe-
ther it was the intention of the Government
to continue it beyond three years, as originally pro-
posed, and upon that the whole financial calculations
hung. It would have been a more manly course to
have stated whether it was to cease or be continued
for three years longer. The only allusion to it was,
that the subject would be brought forward next year.
He approved of the reductions proposed, and only re-
gretted that they did not go further. As to the pro-
posed reductions on sugar, he could see no reason in
the Government scheme. It would encourage the
growth of suglr produced by slave States, as much as
if they adMitted it at once from Brazil.
Sir ROBERT. PEEL pointed at the danger and the
inconsistency of reducing the national establish-
ments, and particularly our naval and military forces,
while other countries were making large preparations
for any hostile event. With regard to the income-
tax, he considered it would be more conformable to
common sense to wait till the period for which it had
been fixed was expired. Next session they would be
much better qualified to discuss the question. He
then repeated what he had stated on the introduction
of the tax, namely, that Parliament, ho hoped, would
not be unwilling to continue it for five years, but
possibly, .owing_ to the increasing prosperity of the
country, it might not be required for more than three.
In the meantime it would be better to wait and see
the result of the proposed changes, and the state of
the country next year.
After some remarks from Mr. LABOLICHERE and
•
other Membersthe discussion closed.
Sir G. CLERK gave notice that on Monday next the
House would .be moved to resolve itself into Com-
mittee to take into consideration the question of the
Bank Charter.
The
adjourned at a Quarter to Twelve.
Housen otspace to give an outline of the pro-
ceedings
the House of Lords, but we call the at-
tention of our, readers to the discussion which took
We have
place relative to the recal of Lord ELLENBOROUGH.
The Duke of WELLINGTON, it will be seen, denounced
in the strongest terms the course adopted by the
Court of Directors. He called their conduct indis-
creet, and added, that a more indiscreet exercise of
power had never been exerted since he became con-
nected with public affairs.

In advertipg this morning to the Budget of the
CHARCELLOR of the EXCHEQUER, we gave him due
credit for the fidelity with which he bad redeemed
his promise
of bringing inthe year on the appointed
statement
of
fing forward the customary
financial
evening, instead of withholding it (after a bad official
fashion of recent growth), by repeated postponements,
to a much more advanced period of the session. We
can now pay= this additional tribute to the Right
Hon. Gentleman's Ministerial punctuality and dis-
cretion. He accurately recapitulated the estimate he
had announced, in his statement of last year, with
regard to the„various items of the public income and
expenditure; aria was at no pains to slur over
any of the elements of deduction which it was neces-
sary to apply to the due appreciation of the results he
had to communicate to the House, favourable as,
prima facie, these were. For this candour the public
are much beholden to him; and for ourselves, we can
truly say that it tells with us to great advantage by
the side of that specious plausibility with which his
Right Hon. Leader and Chief affects, on all occasions,
to have nothing to conceal ; whereas the truth is, in
nine cases out of ten, this pseudo ingenuousness
amounts merely to the fact—that he has nothing to
communicate. Mr. GOULBURN, undoubtedly, went
about his figures and stated his case like a man of
business ; openly and distinctly. So much for
the Right Hon. Gentleman's statistics. As to the
scheme of future finance which they developed—the
soundness of the economic principles on which he
proposed, as to existing duties and imposts, their re-
tention or their modification—the amount of conces-
sions which these modifications involved to the great
necessity of free trade—or the ground which the
whole statement afforded for any reasonable hope of
the introduction into the councils of Government of a
liberal and intelligent policy that shall appreciate the
cruelly degraded condition and the righteous
demands of that portion of the community whose
existence depends on the expansion and activity of the
market for industrial labour, we must confess we are
utterly disappointed with this Budget of 1844. Its
exposition, moreover, held out, even incidentally, no
hopes to domestic trade or the foreign commerce of
the country, far relief from those fiscal shackles which
cramp, by absurdly imposed, or excessive duties, their
just evolution in some branches, and absolutely para-
lyze their energies in others. And, above all, it passed
over, unnoticed, unremembered as it were, the press-
ing domestic question of every hour, " What is to be
done towards the revision of our monetary system ?"

On the general statement of income or revenue,
and expenditure, it is clear that Mr. Govpvitx boasts