The Sun.
London, England, 1842-07-04 00:00:00

PART 11.

Sets off with. a reference to the position of those Gil
whom, by the Mutual Mouse Insurance, the loss would
fall, and the necessity of alleviating it by a general in.,
demnity--.-to be accomplished.
L By raising a state loan to the amount, pro maxim°,
of thirty-two, millions of marks banco, on the easiest
possible terms, without any limitation on either side as.
to the time of its repayment. However, to accomplish
this end, a sinking fund to be established, but limited to
one per cent. yearly.. The loan to be raised on the credit
and security of the, State. The deputation authorised
to make arrangements to contract 'this. But before its
final adoption, it must have the sanction of the Senate
*and Burghershafi:.
11. How to raise the funds for -the interest of the loan
and for the sinking funds.
By a yearly additiounl fire insurance-tax of
one per cent. of the sum hanured.
L. The ground-tax (wlY.eh is levied in proportion
to rent} to be abolished it j the town while the above
exty o,ordipary tax exists .
at, The ground-tax :1:or all remaining houses in
the suburbs and territ.:exy to be one-half more.
4. The proprietors of houses burnt down are
'allowed to deduct 4the amount per cent. of their
former ground-tax. from the amount they would
have to pay, according to subdivision, as übove, be-
cause these people. ido not take any rent.
Whether a (nanutation of this one per cent.
may take place, t he deputation has to decide, agree-
:in.' with the Senate.

In consequence of the abolition of the ground-
tax, there arises a diAeicncy in this ordinary State in-
come, to be covered.

1. By a tax to be entitled a general conflagration
tax of . 1842, wliich is an assn stsed tax to be raised
on property and income. Sada a tax as raised in
1836 for some extraordinary expenses. It is now
to be doubled. It was in the last-named period 2
per 1,000 inks ; it is now to be 4 per 1,000.
2. The import anti export duties, at present one-
half and one-eighth per cent. respectively cur-
rency, to 'oe now paid. in. 'the same figure baneo_
(4 mks. banco are 5 inks. .ct.)
3. Increase in the ta.cise duty on butter, fat,
ritl Dutch cheese, at ce_ie-half-sehilling per lb.—.
,Hambuigh schillinK is nearly a penny English).
• 4. The funds bith.ef to apportioned for the con-
structiGn and repair: .of roads to be given to the
State Treasury, w;.ch ie exception of 40,000 mks.
IV. The deputation, the Senate, and financial depart-
went, to regulate r..-onjoint ly in the first year how much
of And at what time the efitraordinary fire insurance-tax
ofj per cent. is to be rai.sed.

V. Js to avoid a eon,tric Lion of the circulating medium,
so thni- mit:, the luau raised is re-paid, in order to secure
tho ittLvst economy, the original Hamburgh State-
pe.per-mon,:w to b received at its value, without the
power of it; holder to demand spepie-for it. Such paper.
is in issue, but to a limited. extent ; there is none under
400 marks. • .

THE OFFICIAL REPRESENTATIONS.

The details and representations accompanying Part
H., nze of greater consequence than any other, so that
I hae ~Itouglit it advisable to give their substance as far
as possiblg,
The tirSt paragraph of this documCnt 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
♦alue of the houses burnt down at 42,000,000 marks
currency ; towards which loss it is expected that for
prope!,:ty not quite destroyed, the remains of houses,
and :ruins generally, a sum of 2,000,000 may be
obtain ed. Thus they bring the amount for cover-
ing tt ,e damage to 32,000,000 marks banco, that
is 40.,000,000 currency. This destruction, although
so gre at in amount, the Senate does not hesitate to de-
clare must be met in full and in ready money. This
it is SI qtrcely necessary (the document says) to prove,
the gen oral credit of the State calls for the obligation
to be Atifilled.; but it will be impossible for the majority
of the
.insurers, on whom the Loss comes, to raise their
quota oS this sum ; so it is adtrisable the State should
undertakn this matter, whence arise several points for
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 re-
move- -large sums from the money market, which
could he done by raising it within the State. On the
con.rar v. by the partial draining of the amount from
abroad; she capital which is here in circulation,
is increased. As to the terms on which a loan can be
contraete d and the interest, nothing can be said, as this,
must be L'ie result of negotiations. The new houses built
with then alount of the loan will give an additional gua-
rantee for The loan will be raised on the credit of
the State ; 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
any thing.
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 land, would require a yearly contribution of I
per cent.. of the insured value of all the houses in the town.
This am ounts to 180,000,000 marks, such a tax on
which would be 400 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 tux, the permanent impost would .be from five
and a half to six per thouiand. 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. 13y 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 inks., income under 1,000 mks. re-
maining untaxed. Now only income which is under 400
Inks. to remain untaxed, and from 400 to 1,000 inks. to pay
3 mks., and above 1,000 to pay 4 mks., by which it is cal-
culated Nvill 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. boo. 130,000
mks. mere than formerly will be obtained. (The former
amount was about 529,000 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 amain raised to the former sum, which will
bring 65,000 mks..
The amount now deioted to road-making and repairs is
100,000 mks., out of which 60,000 mks. is to flow into a
new channel for the purposes of the State.
The above will cover of the deficit 750,000 mks., which
it is propos,ed should be voted for five years.
Ilr. 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 timecan at present be named for its
• commencement.

The levyit* of the two inlirect 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 ,)1* Sumter loans -(all levied in the State itselq
should not have the right to enforce the epayment •of
the priucipal,
The Solvate concludes this document ty eemanding
the sanction of the Burghershaft to the whole of these
propositions.

PART HI.
The Senate proposes that the great deputation be
authorised to settle a plan,
already laid down, and to
ascertain what its execution would cost, as well as to
warrant the State in proceeding to a partial or entire ex-
propriation.
That the re-construction of the parts of the town
burnt down be not allowed before a previous authorisa-
tion of the deputation. That the deputation miy allow
the restoration of such streets where they find it will rot
be inconsistent with the general plan, but even this per-
mission to be accompanied by the requiring the widen
ing and s traightening the streets.
That those proprietors who are allowed to rebuild their
houses, mlist undergo the obligation to subject themselves
W the expcopriation la*, in case they should be required,

on account of the modification or alteration of the plan, to
cede their property.

PART IV.

The Senate here inform the Burghershaft that by the
late conflagration they have acquired some experience of
many things, many defects and abuses which spreal the
fire. For instance, wooden pipes and gutters, &c. For
correction of these evils, and the regulation of the con-
struction of the new buildings, no less than 12 different
propositions are submitted for adoption, and as a 13th
he deputation are invited to further particulars.