The Sun.
London, England, 1842-03-16 00:00:00

is as follows :

S. That it is neither consistent with justice nor with sound
policy to levy a greater proportion of tax upon larger Incomes
than upon smaller incomes ; and that an exemption of even
the -smallest income from the operation of the tax can only
be justified on the supposition that the owners are wholly un-
able to pay it.
We are decidedly opposed to the whole of this reso-

''on, and, we confess, we are altogether at a loss. Oa
consider how a statesnjan of Lord BROUGHAM'S com-
manding intellect could mink of recommending it to the
adoption of Parliament. Does the Noble Lord suppose
that,an income tax of three per cent. would not fall
' •

heavier upon a man with two hundred per annum than
tilt). same rate of tax would upon a Peer of the realm,
having 50,0001. a year ? The tax curtails the poor
man's dinner, and perhaps renders him unable to give
edueation to his children ; but from the wealthy Peer or
rich commoner it' only takes, at the utmost, the means
of indulging in-some uselesS and pernicious extravagance.
The Peer may keep a hunter or two less, and when
not in town, may contrive to dispense with a box at the
Opera, or the membership of an expensive club, but will
Lord I3RoucHA3t weigh these aristocratic inconveni-
ences against those of a family emerging above absolute
want, where a pound in the year to devote to the educa-
tion of a son or a daughter, or two or three of both, is of
the last importance ? And has the Noble Lord consi-
dered what such families would endure rather than claim
an exemption from taxes on the plea of poverty ? Surely
he is no stranger to the delicate pride of genteel indi-
gence—a pride which none who respect the virtue of the
industrious middle classes but ought to treat as tender as
the apple of the eye. In that pride—that respectable
economic saving of appearances, we have the salt which
sweetens and preserves all that is most estimable in our
national character.

An income tax appears to us as unjust without a
sliding scale, as a Corn-bill with one. If we must have
such a tax we would recommend it to begin with one
per cent, on small incomes, and gradually ascend to
seven per cent. upon fixed property. Among the ob-
jections universally taken to Sir ROBERT rznes scheme

is the hardship and injustice of taxing an income of
-150/: and allowing one -of 440/. to escape. The remedy
for this injistice is obvious. Parliament has only to in-
sist that only the excess of income over and above 15C1
shall be subject to taxation, and so on throughout the
scale. Thus, say a man has 300/. a year, tax him for the
surplus 1501. If he have 600/., tax him for 4504
and no more. Again, in taxing property of
a - great amount, suppose five per cent. be
the rate upon 10,000/. a year, and seven per cent.
upon 20,0001. Of the latter let only one-half be liable
to the high rate of taxation. This principle is an
equitable one, and in its operation presents not the
slightest difficulty. By means of a properly-constructed
set of tables the most ignorant collector could make his
returns without the occurrence of a mistake once in
seven years.

We trust eur readers will now be satisfied that where
we differ from the Noble and Learned Lord, it is not
upon slight or casual grounds. Of the I+ hole question
of the income tax, we have only to say, in conclusion,
that we feel certain that the country will not long tole-
rate it under any circumstances whatever. It is but the
prelude to a property tax.

MONEY MARKET and CITY NEWS.

FROM THE MORNING PAPERS OF THIS DAT.
TlMES.—Thepremium on gold at Paris is 9per male, which
at the English Mint price of 3/. 17s. 100. per ounce for standard
gold, gives an exchange of 25 37k, and the exchange at
1-?aris on London at short being 25 55, it follows that gold
Is 0.70 per cent. dearer in London than in Paris.
By advices from Hamburgh the price of gold is 4331 per
mark, which, at the English Mint price of 3/. 17s. 10%d. per
.ounce, for standard gold, gives an exchange of 13 9A, and the
exchange at Hamburgh on London at short being 13 1011, it
follows that gold is 0.57 per cent. dearer in London than in
Hamburgh.
The course of exchange at New York on London is 108
per cent., and the par of exchange between England and
America being 109 23-40 per cent., it follows that the ex-
change is 1.58 per cent, against England. But the quoted
exchange at New York being for bills at 60 days' sight, the
interest must be deducted from the above difference.
S UN,—A marked and decided improvement took place at the
close of business, in the value of all description of securities.
The abundance of unemployed capital, and the certainty that
no new loan will be contracted, has caused public attention to be
drawn to our Stocks in particular. Consols advanced to 89R 4,
for Money, and A9i 90 for the account. Exchequer Bills 30s.
to 325. prem.
he present account in the Foreign market having proved to
be a Pear one, the oppcsite party have taken advantage of the
settleVnent by creating a scarcity of stock ; consequently quota-
tions are all higher. Danish, 81 82a ; Dutch Two-and• a- Half
per Cents., 5* 521; the Five per Cents., 1024 103 - ; Brazi-
lian, 63 60 ; Portuguese-Five per Cents., 35 to :354; the Three
per Cents., 20i to 21 ; Colombian, 27 to 27A ; Mexican, 41i
414 ; Spanish, 25 to 25i.
Railway Shares are generally higher. Birmingham 85 87 ;
Great Western 26 27 prem.; Birmingham and Gloucester 56
to 58 ; Squth Western, 59 to 60 ; Brighton, 35i to 35i per
share.

The Foreign Exchanges were rather firmer, Amsterdam
being 12 4 to 12 5 ; Antwers, 12 41 ; Hamburgh, 13 12 to
12k; Paris, 25f. 77ic. to 82
The fo:lowing are the o cial returns of the exports of
Bullion from the Port of London for the week ending Thurs-
ay last :7

Silver Coin to Hamburgh 20,000 oz.
Ditto ditto, Rotterdam
Ditto Bars, ditto 114,000 oz.
Ditto ditto, Hamburgh

MENDICANCY IN Dunmx.—The Dublin Pilot re-
parts a meeting held in that city last Saturday, to prevent the
street-begging, which has grown to an intolerable nuisance.
The Chairman stated that notwithstanding all the provision
made for the support of the poor-houses, the streets were now
crowded with a worse description of beggars than he had ever
seen before. Those persons were disgusting, not only on ac-
count of their filth, but from the deception they practised to
procure alms; for instance, he had seen the same woman with
twins in her arms for the last this ty years.—( Laughter. ) The
Seiretary put the following declaratory resolution, which was
carried, to the effect that mendicancy in Dublin has, since the
opening of the workhouses in this city, and the consequent
repeal of those laws, again greatly increased, and now prevails
therein to a disgraceful extent, and in its most disgusting forms.
A deputation was finally appointed to wait on the Lord Lieu-
tenant.

The trial of General Levasseur, —and the seconds,
concerned in the duel between the General and M. Arrighi, in
which the latter was killed, took place on the 9th inst., before
the Court of Assizes for the Bouches du Rhone, held at Aix.
After a long hearing, the Jury retired in the evening to con •
cider their verdict whether General Levasseur was guilty of
voluntary and premeditated murder, and whether the other
prisoners were guilty as accomplices. In twenty minutes the
Jury returned into Court, and delivered a general verdict of
Not Guilty in favour of all the accused, and they were imme-
diately discharged, amidst unequivocal marks of congratulation
from the numerous audience.

There are moments in which we live years—
moments, which steal the roses from the cheek of health, and
plough deep furrows in the brow of youth.
The Editor of the Courrier de la Sarthe alopeared
nn the 10th inst. before the Court of Assizes st Le ,la.ns' on
in indictment for having published an article in the Journaldi on
the 19th January, which tended to excite hatred and contempt
against the King's Government ; but the jtjry found is verdict
of Not Guilty, and he We acpitted.