Star.
London, England, 1830-03-16 00:00:00

iity upon it, I should feel justified in taking the esti-
mate of last year as a guide for this ; but I rather took
the side of prudence in the circulation, and have set it
it down as being likely to be 24,000/. less than it was
last year. Many very able and intelligent men, con-
versant with all sources of the public revenue, and
who have watched the operation of these taxes for a
series of years, have calculated that the produce of the
revenue will fully equal that of last year; but I have
taken my own estimate, which is lower, and there-
tire safer. I own that, looking .at the returns
which have laid upon the table from the corn-
niencement of the present year, there ap-
pears a defalcation in this revenue, as compared with
1829, of no less than 340,000/. But this, I think,
may be accounted for by the severity of the weather
within the latter period, which acted most prejudicially
upon the revenue, since it must, of necessity, have pre-
vented many of those operations to which the revenue is
so much indebted. On the other hand, I have been
assured that, since the disappearance of the severe wea-
ther, the operations to which I allude have been renew-
ed, and there is every prospect of their being productive
of considerable advantage to the revenue at no distant
period. I have the satisfaction also to state, that I do
not think the defalcations are of a nature to produce
much alarm to Gentlemen in this House. (cheers.) The
excise I take at 19,700,000/. The stamp duty last year
amounted to within 1,000/. of what I now calculate it.
As contrasted with the return of the antecedent year,
however, there was an apparent defalcation, and being
for that reason diminished, I shall take the amount
this year at 7,100,000/. being 1,000/. less than last
rear. With respect to the Assessed Taxes, I take
them, for the same reasons that I have stated, at the same
as last year ; for I find that for two 'succeeding years,
and, indeed, for a series of successive years, the amount
has been rather increased t' an diminished ; and observing
too, from the returns of the articles of luxury,-Which
these taxes affect, that, notwithstanding the difficulties
of the times, they have increased, I think myself right in
taking 4.900,000/. which is within 4,0001. of the esti-
mate of last year, as the probable amount of the present.
In the returns of the Post- office, for the same reason, I
look forward also to an increase of 20,0001. which is
to be hoped for from an increased activity to be given
to the establishment, and a diminution of the charges.
The Post-office, then, I take at 1,500,000/. which is
20,000/. more than it was estimated at last year. In
the smaller branches of revenue, they have, for many
rears, varied so little, that I think I may take them at '
the estimate of last rear—namely, 200,0001. The other
sources of revenue, the miscellaneous branches—such as
unclaimed dividends, &c. I calculate at less than last
year, because, in the course of last year, a sum of
70,0001. was paid into the Consolidated Fund of Ire-
land, as Exchequer fees, which had long before been
unprovided for. This I, of course, omit the present
year. Notwithstanding this, however, I think I shall
iv making a fair calculation of this branch of the reve-
nue by taking it at 280,000/. Under all these circum-
stances, I think the net amount of the income of the coun-
try, the deductions being subtracted, will be 50,486,0001.
And this brings me to a statement of what will be the
probable expenditure of the country, and the necessity
of providing for the deficiencies to be created by these
reductions. The first and main point is the debt, which
we were under obligation to pay. The interest upon that
and the permanent debt of the country I estimate at
25,670,000/. Comparing this with the amount paid in
former years, Gentlemen will be struck with the circum-
stance of the little difference which there will be found
between the two amounts, but the moneyed operations of
the last year would give a material alteration. The Com-
mittee recollected that, in the course of last Session, by
the funding of Exchequer bills, an addition was made to the
permanent debt of the country to a considerable amount,
and. therefore, if any diminished charge arising out of the
interest of the debt, was expected it was to be looked for
wider the head of " Unfunded Debt." To these was to be
added the amount of annuities which had been created for '
given periods, and which would be terminable at given
times, I have brought together, in this paper, all the
portions of those debts which ate every year working their
own extinction, by which I mean assignable annuities, the
termination of which depends upon the lapse of years, the
lime; of parties, &c. the buying up of interests, &c. the
cliarge upon which, for the present year, I estimate
at 2,629,000 f. The interest upon Exchequer Bills is
7,;0,000/. but, without fatiguing the Committee, by
going through all the items, I will state that the whole
'Large of the debt is, in round numbers, 29,900,000/.
Then come we to the next head of the expenditure, the
Civil List, Pensions, and Miscellaneous charges. These
I calculate at less than last year; and taking into account
the large diminution which has been made in the expen-
diture, Irate them at 2,129,0001. With respect to the
Army, Navy, and Ordnance,—those branches of the
pc`)lic service which have been already voted—the very
full discussion ehich has been had upon them eaves
me the trouble of going into detail upon them, or of
tuting the grounds of the reductions which have
already taken place. These will be fully apparent
upon the face of the Estimates which have been
lair before the House. They present a reduction
fur the present year, as compared with the lust, of
1,0-18,743/. and I, therefore, take these charges alto-
gether at 16,585,0001 the sum Which I shell want for the
A rmy,Navy, Orndance,and Miscellaneous Services of the
rear.—(Hear, hear.) The total amount then, of the per-
manent expenditure, for which we shall be called upon to
vote the supplies this year is 47,812,000/. leaving, as com-
pat!Lt with the estimates of the net revenue,4 clear surplus
%Lich I estimate at 2,667,0001. And, whereas in esti-
mating the surplus of former years, it was to be always
'atom as clogged with the payment of annuities, which
*eru now charged upon it this year for the first tints;
tiia surplus stated was a real excess of income over
espanditure, free front those incutnbrances which here-
tofore belonged to it,—( Hear.) But, besides 'this
:peplos, I calculate that there will be a further stmeto
oe. obtained, the amount of which is; however, as
Yet undetermined, but which it trill be my duty to ascer-
tain by the propositions of some measures that I shall
repose at no distant period to the home. The subject to
wlech I shall allude is the stamp duty. The committee
i 3 aware that Goverment have long been called upon,
'tad have themselves long felt and acknowledged the ne-
cessity of subjecting the consolidation and revieion•of
he complicated system of laws relating to the ollec-
tiou el taa" in this country and in Ireland to Inquiry
by a committee of this house. The preliminary steps
necessary to such a proceeding have been already taken ;
and the labours of Government are so far advanced; that
the subject is ripe for inquiry, g reP°Pt having
been
agreed to only during the last summer 'recess, which
sill be duly presented to Parliament. lam happy to be
able to say, that upon un early day I shall be in a condi-
um to explain the r
c iansis which are contemplated in
tkis department, contenting myself Sur r the present by
'Wing that the object is to assimilate the coHes:tion of the
dity iu the different parts of the United kingdom ; to
sake the various collections radiate upon the Stamp-

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