The Sun.
London, England, 1816-07-19 00:00:00

Atthi AinitAk

tondohs 17ni July, ICC
'BUfely 'the AnittiCiik IS'olitiei;sui of the Houie
Commons will soon be able to see what tliey have
achieved for the good 'Of the State by the total.
abolition of the Tait on the licOme 'of Property;
in land, mortgages, secured
clerical and other.encloWments; the pubiie fundg,
.
professioni and trades, vbicli, "ifistad 'of being
reduced- to 5 per cent., required to hi eikiiiiiined
at 10 per cent., if not to be adVanted to i 5.
That "simie thoilifiCatimi and iiii'iroiretnent et'
this impost, in the case of fluctuating and uneer=
tain incomes of trade, labour,, &c. &c. etc. might
have been required, and practicable, is here ad.;
witted.

But the iiitereit of the National Debt was re-
duced by its operation nearly one tentb—Was
this to be disregarded

And why does the law of the land ccindnue to
mark, point, and fix a rate of interest higher than'
.the nature of the relations between property and
rent, capital and usufruct, require I—All the rea-
sons which have in the last 300 years reduced thu
practice of interest from 12 per cent, to 5 are
proofs bow valid, and with the increased demon-
"
stration of the long experience of utility, to the
further reduction to 4 per cent., where the. rate
stood hi practice, notwithstanding the misdireedi
tion of the law (such us it was), from 1785 t 0
!M.—When an estate or nation is worth
100,0001., and possesses a rental, or income, of
4,0001., which it has it eumbered by a Itim toga
of 60,0001. at 5 per cent., say 3,0001., the owner
of the tee, or people of the country, have still
1,000/. left ; but come to a change in the value
of the land, or of its produce, by which its rent
or :meanie be re,tucen to 2,5001. how are the
mortgagee and the occupier (who holds nine,..
points !) to arran4e their inconvenient pOSition
['here is 110 power to oust in this,case-,-there cat
only be liberal and prudent compromise.
A well regulated tax on all real, fixed', antl
secure incomes and property, modified on some
others, is now perhaps the only repartition 8114
redaction of this load of mortgage on the State-,
practicable, and the only one equitable.—the taxee,
on consumptions falling alike on the tioequa
means end coodition of rich and Root., depressing
the value and abridging the use of commodities,
and (.1111.1116[1g the f3fel of labour and wages d
every kind : these can be plistici no tarther—or
Why was the Tax on Malt reduced ?
May not also the general legal rate of interest •
t)e fixed where nature, t.ason, and the pi itede4l
sense or economy among the societies cat EaroPc
places it in commerce,4and revenue and civil bit
at 4 per ccitt. ? ,
Dues not this, when admitted, es'tahlkb opol
,of reduction (without comparative dilferewe or
the parties in their means) of the late"
rest payable on the National Debt 1
Necessity 1133 no law—but the law
.or equitable.
regulation hearing in due proportion epially
all the property and fixed means of the peorie of
the State, is the means to avoid the Coilvtilsive
change with partial suffering, or much disorder I_,
which the idea of a diStrCSiiiii necessity, and forced
arrangement, includes.
The natural course of Consols with the Conti"
deuce of an assured dividend or perpetual annuity'
is on the experience oldie past, in the continuance
of peace, 75 to 80—(they hare been 96). its
produce, security is. the value of property and.:a
produce, the returns of manufacture and tri''
the revenue on consumptions, land, &c.
Without employment, and with low 'wag"'
reduced rents and low priCe of land produce,.orCs`
and colonial returns, edusittuptions and the 'IC.'
venue of taxes must abate in amount.
Can there any longer be devised any wholesome
means of raising the taxes required for the illt"
rest of the National Debt, but a rateable contri
bution of the income of all the property and 604.
, incomes of the country I
Can any mortgage interest be paid hat from the
' rents or produce o the owner and the occupier
of the soil ?
Is not the present great. Sinking Fund a invB",,,.
of which a part may be applied, even who ll'lebt'l''
ly, to the exigencies of the next three years ?
Anti the Batik of England—has not that Cot'
poration derived from its credit, national support
anti tolerance, and the distresses of the Statei
property more than equitable and fair in the soot
views of politic economy, legal interest, or. PO;
Berate advantage of trade,.--paper money at 5 13c,
cent. interest for 20 years ?—a capital erected
the breath of a promise never ietentied to be rr;
tormed.--A great deal is tine here ; to res.
deal should be done, and fairly.
Sound, equitable, and liberal-comOderatioh i 4
required of the property of this country, for the'
conservation of the credit and quiet of the Stal°*.
Colonial possession and Indian, and the rjelt
and revenue on their 'productions, remain, °Wit
are a great power to be carefully defended an
improved.
Foreign commerce, that is, doing the hotlines:
of the other States of Europe by our ships", 1;4';
chants, docks, and warehouses, or clothing "'co
'with our manufactures, or loading them with nj
hardware or pottery—may perb,,ps b@ contrecite
i,
in quality, until the general consumptions, aces
vities, and exchanges of all Europe ,with enth
other, and with America, North and South, e.:!.„
all the Indies, the three sides of Afrida, atid
New Holland—all increase together for the retchi
procal improvement and social advantages ("i
whole. !
- Wan
With a productive soil, a large, intelligent,
Industrious population, only consent and (WI
are required to support 'the burdeni of finelf/010,
and the vacillation.i of foreign trade.,—but c.
vial returns and possessions, peace. and tiqt);"%ii,
employments, quiet, and content-, all iteta",,

li '

SIIIP NEWS.

DEAL, YULY 'lB.—Arrived the Sir Stephen
iushittgton, CLUVE'IiS, 11'0111 liengiii, and the go-
vernor Milne, WILLIANts, from Nevis, and sailed
for the Rive.r. Arrived the Princess Charlotte
Packet from Osteml, with a mail and passengers
from frollatid ; also the Catherine passage vessel
from Calais, with passengers.—Wind S.W.
MARGATE, JULY 18.—Arrived this morning in
our Roads the Commerce, DAwsoN, front Gre-
nada, and landed a bag of letters. Also arrived
in Pan Saud-hole anchorage the ship linsires.
TRANKLIN, frotn'St. Lucia, and landed several
passengers;

FALMOUTH, JULY 6.—Arrived the American
brig Polly from Virginia, and the ‘Vaterloo, Roy,
front Jamaica, in ballast. S,,ileO the Q ,eert.bnry
Packet with a mail for. New York and Halifax
Wind Ninth.

PORTSMOUTH, JULY 18.--At rived his AlajeNty's
ship Jaseur from Halifax, and hip Majesty's ship
Inierital from Dept-toed. Sailed the JaMIS, MAR.
Tia, for the East ward.
JVLY 14.-.*Stiiiell, the (14y before yes-
-41,1.1, his Majesty's ship tlartio on a cruise.