The Sun.
London, England, 1842-03-12 00:00:00

THIS EVENING, MARCH 12,

Will he performed MARY WHITE; or, the MURDER at the
OLD TABARD —Mary Whie, Miss Vincent, the acknowledged
Heroine of Domestic Tragedy.
After which, BLACK EYED SUSAN.
To conCiude with THE LADY OF THE LAKE.

THE WEATHER.—Noom, MARCII 11.
ROYAL GALLERY OF SCIENCE, ADELAIDE-STREET.
Thermometer... 46 ) Highest 46 Lowest 33
Barometer 30.05.—Wind N.W.—Freezing Point 22 Deg.

HIGH WATER AT LONDON BRIDGE THIS DAY.
Morning.... II minutes after 2 Evening 26 minutes after 2.

LONDON?
SA TT.TriDAY MORNING, MAR CII 12, 1842,

Sir ROBERT PEEL laid his financial statement before
the House of Commons last night, in a speech that de-
serves every possible praise. It was at once lucid, forcible,
and impressive. At its commencement and at its close, it
was eloquent and commanding. There was, we believe,
but one opinion concerning it ; all agreed that: it was
masterly oration. The Right. lion. Baronet began about
twenty minutes . after five, and concluded nt
nine o'clock, having spoken, with almost undiminished
vigour, for upWards of three hours-,ityd. a half. What-
ever opinions we may entertain of his poliCy, we cannot
withhold from him our approbation for the care he must
have taken to master the details of his extensive subject,
and for the clearness with which he explained the plans
of Government. We felt, we must own, somewhat hu-
miliated by our recollection 'of the incomplete and' im-
perfect wanner in which the chiefs of the party with
which we generally concur, have on similar occasions
brought. their measures before the public, as contrasted
with the perfect preparation of Sir ROBERT PEEL. We
trust that his conduct will be an example to them, and
induce them not to throw away any advantage which in-
dustry can . command. Having said so much of Sir
ROBERT PEEL'S manner, and the manner of the leaders
of the Whigs, we pass to the matter of his speech.
After a somewhat laboured introduction, to express a
confidence—the want of which, we fear, suggested
the boast ' that he possessed -it he.. stated - the revenue
for the' year ending April 5, at 48,053,000/.., and the
probable deficit at 2,324,000/. He estimated the revenue
for the current year, ending April 5, 1843, at
48,350,000/. the expenditure at 50,819,000/.,
leaving a deficiency of 2,569,0001. But besides
the alarming state of 4 our own revenue, the
Right lion. Baronet showed, which has been ne-
glected by other Governments, that the finances of our
Indian empire were going gradually to decay, and from
having a serplus 0f1,550,0001. in 1836, there was a defi-
ciency of not, leSs than 2,320,0001. in 1841. Without in-
cluding the deficiency of - the Indian revenue,—though we
must in the end be answerable for its credit, Sir R.
PEEL estimated the deficiency of our revenue since 1838,
including 1843, at no less a sum than 10,000,0001. Such
a state of our finances cannot be suffered to continue; and
now we come, after this brief statement, to consider Sir
R. PEEL'S plan to remedy this evil.
Discarding all additional taxes on consumptive arti-
cles, because they had been carried as far as possible,
and refusing, for many good reasons, to revive any
of the -,,taxes which had aiready been abolished,
the Right Honourable Baronet proposes to levy a tax
of 7d. in- the pound, or something less than
three por cent., on all incomes :not exceeding 150/ per
annum. Assuming that the incomes of the occupiers of
land is half their rent, which will, we believe, be very
unsatisfactory to the town's-people, and open a door
for fraud, Sir ROBERT PEEL expects that this tax wili
yield ab0ut3,771,000/., of which 1,600,0001 will be paid by
land, tithes, mines, houses, and fixed property,- 150,0001
by the cultivation of the soil, 646,000/. by funded pro-
perty, 1;225,900/. by the profits of trade, and 155,000/
by public `officers. Looking at the advantages already
conferred on the land, and at the immense wealth the
landed people boast of, it seems, if Sir R..PEEL'S es

mate be Correct, that, including the tenantry, 1,750,0001.
is not a fair proportion for them to pay, while the other
classes will have to pay 2,021,000/. We say nothing of
the fraud in letting land, which Sir R. PEEL invite.,
the landlords to practice, by telling them how they, in
conjunction with their farmers, may keep the seat of
each individual under 300/., and so enable the tenantry
to evade their share of the new public burdens.
The income. law is not to extend to Ireland, where
there is -no machinery to buy it, and, as a substitute for
it, Ireland is to pay an additional duty of 6d. a gallon
on spirits ; and the stamp duties there; except the duty
on advertisements, 'are to be raised to a level with the
stamp duties in England. These two duties will probably
yield t4increased revenue from Ireland of 410,0002
Moreover, Sir ROBERT PEEL proposes to subject all coals
exported to a duty of 4s. a ton, and he expects this
will yield a sum of 990,00e1. The aggregate increased
revenue from these various sources he calculates at
4,380,0001., which will meet the whole e pe:iwdi htittcriel
hoef
the year,'. and leave him a sutplus of 1,800,0()0l
is to apply to relieving the commerce of the
country
The mode of doing this is to revise the Tariff
completely ; abolishing all prohibitions, and sub-
stituting, speaking generally, three classes of duties
ratnely. a maximum duty of five per cent. on raw ma:
trials ; of t,velve per cent. on partially iv.anufactured
articles; and of twenty per cent. on manufactured arti-
cles. This will give a great relief, he says, to many
branches of trade; but as the Right Hon. Baronet did not
state the particulars, and as the tariff is not yet
published, we cannot judge of this part of his scheme.
We have_ heard that his propositions as to castle are
these : instead of the present prohibition, the taxes to be
10s. for every head of full grown cattle, 55. for a calf
2s. 6d. per head for sheep and pigs, while meat will be
subject to a duty of ld. per lb., both fresh and salt. if
this be carried, it will permit a considerable importation
both of cattle and of meat, and as the aiding-scale is

not applied in this case, we apprehend that graziers may
have good reason to complain that they are not protected
equally with arable farmers.
The timber duties are to undergo a considerable re-
duction, Canada-timber is to be introduced duty free ;

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