The Sun.
London, England, 1842-06-30 00:00:00

THE OFFICIAL REPRESENTATIONS.

The details and representations accompanying Part
IL, are of greater consequence than any other, so that
I have thought it advisable to give their substance as far
as possible.
The first paragraph of this document justly alludes to
the great importance of this part of the propositions,
after which it proceeds to the financial details.
An exact extract from the books give as a result the
value of the houses burnt down at 42,000,000 marks
currency ; towards which loss it is expected that for
property not quite destroyed, the remains of houses,
and ruins generally, a sum of 2,000,000 may be
obtained. Thus they bring the amount for cover-
ing the damage to 32,000,000 marks banco, that
is 40,000,000 currency. This destruction, although
so great in amount, the Senate does not hesitate to de-
clare must be met in full and in ready money. This
it is scarcely necessary (the document says) to prove,
the general credit of the State calls for the obligation
to be fulfilled ; but it will be impossible for the majority
of the insurers, on whom the loss comes, to raise their
quota of this sum ; so it is advisable the State should
undertake this matter, whence arise several points fur
consideration.
I. To procure the loan of 32,000,000 of marks banco
a foreign market must be sought. On account of
mercantile transactions it is not advisable to fe-

move large sums from the money market, which
could be done by raising it within the State. On the

contrary, by the partial draining of the amount from
abroad, the capital which is here in circulation,
is increased. As to the terms on which a loan can be

contracted and the interest, nothing can be said, as this

must be the result of negotiations. —The new houses built
with the amount of the loan will give an additional gua-
rantee for it. The loan will be raised on the credit of
the State ; but the particular way in which a guarantee
is to be made cannot be decided now. The State must
await the propositions of the foreign money holders be-
fore they can determine anything. No reference, there-
fore, at present to their own views or intentions can avail
anything.
11. As to the interest and sinking fund. Stating it at 4
per cent., which is scarce to be hoped, and 1 per cent. the
sinking fund, would require a yearly contribution of 1
per cent. of the insured value of all the houses in the town.
This amounts to 180,000,000 marks, such a tax on
which would be too heavy to be borne by the house-
holders as things are now; so it will be necessary that
the ground-tax be abolished. By the deduction of the
ordinary tax, the permanent impost would be from five
and a half to six per thousand. The ground-tax is four
per thousand, thus by its abolition, and the substitution
of the other, there is only about a half more proposed to
be levied.

111. By the abolition of the ground•tax, a portion of
the ordinary State income is lost. The deficit will amount
to 750,000 mks., which must be supplied.-,
The income and property-tax of 1836 must now be
raised at a double rate. In that year it was by way of 2
mks. for each 1,000 mks., income under 1,000 mks. re-
maining untaxed. Now only income which is under 400
mks. to remain untaxed, and from 400 to 1,000 mks. to pay
3 mks., and above 1,000 to pay 4 mks., by which it is cal-
culated will be produced 400,000 mks.
While Licreasing the direct taxes, attention, is also
given to the indirect, and it is reckoned that by the
changing the one•half per cent. import duty, and the one-
eighth per cent. export, from mks. cy. to mks. bco., 130,000
mks. mere than formerly will be obtained. (The farmer
amount was about 520,000 mks.)

Butter, fat, and cheese formerly paid a duty of half a
sch. per lb ; last year it was reduced to a quarter of a sch.
It is to be again raised to the former sum, which will
bring 65,000 mks.
The amount now devoted to road-making and repairs is
100,000 mks., out of which 60,000 mks. is to flow into a
new ehannel for the purposes of the State.
The above will cover of the deficit 750,000 mks., which

it is proposed should be voted for five years.
IV. The one per cent. insurance tax is not to commence
before the end of the year, and is to be raised in several
yearly rates. No time can at present be named for its
commencement.
The levying of the two indirect duties to commence
with the first of July next.
V. As long as these present extraordinary duties
remain, the State must be secured by a law that the pos-
sessors of former loans (all levied in the State itself)
should not have the right to enforce the repayment of
the principal.
The Senate concludes this document by demanding
*the sanction of the Burghershaft to the whole of these
propositions.