The Sun.
London, England, 1842-03-21 00:00:00

LONDON AND BRIGHTON
Li
RAILWAY. •

carrying on the traffic, as enumerated in the 13th paragraph, and
this capital aught to be considered as a separate and distinct capital
from the railway capital.
Your Committee feel assured that their opinion on the works,
considered as evidences of engineering skill, will not be expected by
the meeting; their magnitude and variety are well known, and
their execution has called forth the strong commendation of the
Government engineer, but however admirable the works, or difficult
their execution, it is not in such a light alone that the
Railway can be 'viewed by your Committee as individual
Proprietors, and still less so in their capacity as a Com-
mittee of Enquiry; they must necessarily regard it as an
investment of capital, the profitable employment of which was
calculated on the basis of the estimates; and as these have proved
inadequate to the expenditure, a circumstance which led to their
appointment by the Proprietors, the necessity recurs to your Com-
mittee that the causes of excess should be explained with as much
detail as possible. The works on the line are generally known,
as stated by the engineer, to be of difficult construction, and the
increase of cost so far more excusable than irrmany other instances
where similar excess has occurred ; but it cannot be forgotten that
the estimates were revised at leisure, by two engineers so eminent
as your own and Vr. Locke, and that, consequently, great reliance
was placed upon their accuracy.
Your Committee are aware that the expense of engines and
carrying establishment is not usually included in railway es-
timates, and that their cost must be deducted from any excess
that has occurred; but from the want of such exceptions
being specified, many Proprietors era liable to form an opinion
that the estimate comprehends every thing requisite for work-
ing as'well as constructing the Railway ; and thus dissatisfaction
is caused, which an explicit statement would have prevented.
Some of the observations necessarily made with respect to the
engineering estimates, apply equally to those of land, which in our
case, as in other railways, have been considerably exceeded.
The Committee may be expected to say something on the future
owtlay of the Company ; It is a subject on which the meeting
must be aware that they are not capable of forming an opinion, but
they hope it will be satisfactory to state that the works, for whieh
the additional expenditure was required, has been represented by
the engineer to be capable of correct calculation, and to have been
fully provided for.
The Committee applied to the land surveyor of the Company
with reference to the value of your surplus land, which was stated
in the last Report of the Directors to amount to the sum of
60,0001., and he has confirmed the statement.
The Chairman has assured your Committee, that the amount re.
ceivable from the South Eastern Railway will be an available asset
at your disposal.
It is -considered by your Committee that the duty of making
any remarks, except on the subject of the accounts, or inci.
dental thereto, does not devolve upon them ; but as many
Shareholders may expect them to offer some suggestions
en the subject of the Board of Directors, they submit to the con.
sideration of the meeting, that the number should be considerably
diminished ; and as the Directors are divided into Committees,
with defined duties, that the names of the Members of each Corn.
mittee should beentered in a book, to be open to the inspection of
any Shareholder; and they urge upon the Proprietary, the ex-
ercise of an independent judgment with regard to the reelection of
Directors g3ing out by rotation.
The Committee, in concluding their Report, bog leave to offer
the following recommendations:—
In the first instance. That the books of the Company should be
re.constructed from their, commencement, and upon a proper
system, under the direction of a competent person ; and be 60 con.
ducted In future.
Secondly. That the payment of money on account shall cease,
except oil delivery of bills.
Thirdly. That payments of money, raised by the Company,
should be made to the bankers only, as far as the same is practicable.
Fourthly. That all bonds should in future be signed by at least
two Directors, and that the seal of the Company should not be
affixed to any instrument in the presence of a less number.
Lastly. That three Shareholders should be nominated at the ge-
neral meetings as Auditors, one or two of whom should be changed
every year, and be ineligible for a period to be determined by the
meeting.
The Committee beg to tender their best acknowledgments for
the uniform courtesy and willingness to give information, which
they have. experienced throughout their inquiry, from the Chair.
man, Engineer, and other ellscers of the Company.
J. PARSONS.
J. LEWIS.
G. E. SHUT I'LE WORTH.
C. J. BROWN.
J. THOMPSON

A Special Meeting of the Shareholders in this Company was
held on Thursday at the London Tavern, for the purpose of re-
ceiving- the Report of a Committee of Proprietors, appointed
at the last meeting, to examine the accounts of the Company.
JoErsr HARMAN, Esq., took the Chair, and called on the
Secretary to read the resolution of the last meeting, appointing
the Committee.
Mr. PARSONS, the Chairman of the Committee, said that
they had prepared the Report, and with the permission of the
meeting, he would call on the Accountant to read it. The
Accountant then read the following
REPORT.

GENTint*,—For the purpose of carrying out the intention of
the General Meeting of Proprietors, your Committee considered
themselves called upon to endeavour to ascertain the causes of the
excess of cost over the estimates, which, in the Directors' Report of
December, 1837, were stated to amount to 1,120,0001. ;—namely,
te.20,000/. for the works, including 30,0001. for management, and
200,0001. for land and liabilities, to various landowners.
The books, and other documents at the Company's office, not
enabling your Committee to execute this intention, they requested
to be furnished by the Directors with the estimate of the quantities
of earth-work, brick-work, masonry, &c., distinguishing the via.
ducts, length of tunnelling, and cost of stations; and a return,
tinder the same heads, of what had been actually executed : also,
in a like form, the sums estimated, and those paid and due to the
31st of December last; the object being to determine how far the
increase in the engineering expenses had arisen from augmenta-
tion of quantities of work perliarmed, from advance in prices, or
other causes. They'also requested to be informed what quantity of
kind, Re. bad been included in the estimate: of 200,0001., and the
total actually taken; distinguishing the separate purchases, and
the amounts paid respectively for land severance and compensation,
where such items had been ascertained.
In consequence of this application, your Committee had an in.
terview with the Chairman, and a cemtnittee of Directors, on the
4.1 of February, at which the engineer, solicitors, and land-valuer
were present; when the Ccsinmitose were informed that no par-
ticulars of me.asurements hed been supplied by the engineer, ex.
cept in the case of the Shcreham contrast, which was finished, but
that he purposed making them out upon the completion of the
works; and that the total quantity of hind, or the details thereof,
could not be then furnished, nor for some time to come, without
considerable expense. The Chairman assured the Committee that
it was tile intention of the Directors to make out a complete and
detailed account of all the expenses of the Company, from the com-
mencement of the. undertaking, and to lay the 'same before the
Proprietors.
Your Committee stated, in reply, that they had not anticipated
much difficulty in obtaining information, as they were aware that
the particulars sought for were supplied, in some Companies, as the
works proceeded; whereby parties baying the management of an
extensive work,might be enabled to form, from time to time, an
aeproximate calculation airs ultimate roes, and of the adequacY or
Otherwise of the estimates.
It was the intention of your Committee, when entering upon
their investigation, to class ell the expenses of the Compatfy under
Appropriate heads ;—as, for instierce, under those of 'Works and
Lar.d, the charges appertaining to cash respectively; and so on with
regard to all the remaining expenses, distinguishing the various
i.erns as much as possible.
After their interview with the Directors, your Committee ape
"lied themselves immediately to an investigation of the accounts
ler the last half-year; they examined the vouchers minutely, and
compared them with the books ; and these with each other, in
ceder to enable them to ascertain the manner in which the. accounts
v ere kept, and to form a correct judgment thereupon; but the
length of time thus occupied precluded their extending a similar
it:quiry beyond the month of July, and for the residue of the half-
2. ear they made but a partial examination, anti abandoned an in-
tention originally formed, of taking a general view of the Com.
I:any's affairs from the contraencereent of the undertaking.
The books of the Company, relating to expenditure on Capital
a.mount, are kept by single entry. The pass-books of the Bankers
constitute generally the groundwork of the accounts, whether in
respect of payments or receipts. The entries arc copied from the
Tankers' Pass-books into the books of the Company, no original
entries being made of' receipts or payments at the Ohlce as the
t:ansactions take place, so far as your Committee can discover.
Great difficulty has been fcund in connecting the vouchers with
the books, and in a•certaining that the right sums have gone to the
right accounts; and a few instances have been discovered where
such has not been the case. The sums paid on contracts, and those
ler extra works thereon, are not separately stated, as the certificates
of tha Engineers include both in one sum.
The traffic accounts are kept at London-Bridge Station upon a
p'an of doubly entry, but the Committee are not enabled to express
a decided opinion with respect to them, as they have been only in.
cidentally referred to, for the purpose of examining vouchers, and
clearing up balances included in the capital account.
Among the numerous bil's that came
,under observation, your
Committee notice many which appeared to have been written by
the same hand, though payable to different parties ; and they were
informed that the bills in question had been made out by two of
tee sub-engineers, or their assistants. The engineers were applied
to, and they have afforded explanations, end the Committee only
remark the circumstance, as the practice is irregular.
Occasionally receipts for payments were found wanting, and as
the Committee ascertained that none had been received from one
virion •of the line since the railway was commenced, they tug-
xested that the receipts should be sent up; and a great number, as
eoe Committee are informed, have since arrived at the office, and
rre in course of distribution to their respective bills. It is proper
s the Committee to explain that the sub-engineer in question,
s 'etes that the late Secretary desired him to retain the receipts till
a. ked for.

Sir I. L. GOLDSILID said, as no gentleman had risen to
move that the Report should be received, printed, and circu-
lated among the Proprietors, he would take the liberty of doing
so. There could be but one opinion in that meeting with
respect to the labours of the Committee—( Hear, hear)—for
they were deeply indebted to those gentlemen for the pains
they hail taken.—( Hear, hear.) He was quite certain that
the meeting could not take the var.ous subjects of that Report
into their consideration then, and he therefore hoped that they
would be of a unanimous opinion that time should be given for
its consideration. tie was quite sure that this Report. would
be looked for with great anxiety by the people of Liverpool and
Manchester, as it would not only guide them with respect to
the future prosper is of the Company, hut it would guide them
in similar undertakings of the last importance. The motion
he had to submit was, that the Report be printed and circulated
amongst the Proprietors, and that that meeting do adjourn for
a fortnight or a month to take the subject into its consideration.
Mr. A MOR Y seconded the motion.
The 13.11. A InMAN said he should be exceedingly 'sorry to
throw the slightest impediment in the way of the motion being
carried, but he could not help feeling that no good could result
from the meeting being adjourned to that day fortnight, as they
could at once discuss all its points. He was quite aware that

A few instances of obvious error in calculation, and omission of
pr. eta, were detected in some of the bills first noticed by your Corn-
s iiltee, and they confider that greater care should have been gene-
; I,ly exercised by the sub.engineers, before certifying to the accu.
aey of bills. The duty of examining the bills of the sub.enginaers
stsvolved upon a junior clerk in the office, whose remissness may
extenuated on the ground of inexperience.
The Clarks generally appear competent, under proper superb's-
-1 mdence, to keep the Company's accounts, and they have shown
mdiuess in the explication of them. The Committee, however,
s ere enabled to make only very slow progress from day to day,
1 obliged to obtain frequent lengthened explanations to render
t to accounts intelligible.
The mortgage account was examined by the Comtnitteefrom its
oremnencernent, and they remarked the great risk the Company
.curred in the receipt of money, from Use want of precautionary
teasures having been adopted with respect to it.
In a paragraph in the lust Report of the Directors, to which your
ss:ommittee call the attention of the Meeting, the amount of
52.639,000/. is stated in a way that led your Committee to the con.
in•lusion that the cost of the Railway would amount to that sum;
rend as perhaps a similar irnpressien may prevail among the Share.
:usolders, the meeting will be glad to learn that such is not the fact,
ens the expenditure should have been stated at 2,565,0004 The
:nits-statement arose from the sum of 71,000/. having appeared
kwice, namely, once in the account to 31st December last, and a
r-rscond time in the particulars of liabilities.
It appears to your Committee that a gnat misfortune has at.
vended this undertaking tbrocetout, from the want of some effl.
siva person, in the capassity of Secretary or Accountant, or by what
ther name he may have been designated, who should have
sirranged :he whole accounts upon a well-digested plan. The Com.
t.aittee ere informed that the present mode of keeping the accounts,
was osigisaufiy adopted by the late Secretary, assisted by the party
vvho Was then the Company's accountant; but, in the opinion of
:Y6tlr Committee, a Board of Directors, consisting chiefly of gentle.
tnen 'engaged in commercial pursuits, should have had the accounts
sisal acted upon a good system, the necessity of which, an exami.
I'W.on of the accounts would have fully showed.
Your Committee, in compliance with the suggestions of the
IgLiairman and Engineer, and accompanied by them, made a journey
es Far the line, on the 14th and 15th ultimo. The parts of the line
its here the chief additional expense had been incurred were
' uinted out ; and as the heavy embankments had contributed largely
▪ s this result, the Committee were glad to learn that the settlements
• at been inconsiderable, during the preceding two months. Va.
,us difficulties which had been met with, in the construction of
Visa works, were stated at considerable length, as the Committee
rasssed from point to point along the line ; and in order to prevent
ay adsecnception on their part, they requested the Engineer to
es.:nbodsy the substance of his remarks in a written communication,
tf...ieh he has accordingly done, and from which they make the
I.llowing extracts :

whenever adjourned meetings took place,
.part.ieularly under

. -
circumstance; like those in which they had that day met, an
adjournment always carried with it dissatisfaction, and he
thought therefore that it was best at once to adopt the Report
of the Committee. If anything arose out of that Report they
would have time. to consider it. Their next general meeting,
was not very distant. He hoped they wonld agree to the
Report, and not adjourn the meeting.
A PROPRIETOR wished to know it the Report IT:13 agreed to,
whether the Direction would pledge itself to carry out the re-
commendation in the Report.
The CHAIRMAN said if that Report was received and adopted,
it would become their duty to earry it out. He hoped they
would believe that he did not endeavour to throw impediment
in the way of inquiry, for he was exceedingly glad that that
Committee had been appointed.
Sir 1. L. GOLDSSIID said he had no objection to the adop-
tion of the Report, but he wished to have further time for its
consideration, and he wished to see it promulgated. He did
not imply dissatisfaction, he wished inquiry.
A PROPRIETOR said that the Committee bad made every
exertion, and every information that had been sought had been
given in the Report, and he hoped the recommendation it con-
tained would be acted upon. he heggeil to move at an amend-
ment to the motion submitted, that the Report be received,
adopted, and printed for circulation.
After a short conversation the amendment was put and
carried.

Mr, WHALLEY begged to ask a question of the Chairman.

He wished to know ;Whether the proceeds of the loan notes
were sufficient to carry out the object of the Company, and
whether the amount due from the South Eastern Railway
Company was forthcoming. and what was the supposed time
that amount would be paid?
The AIRMANCH slid he could answer the first part of the
question, and he would sly that there was reason to believe
that the amount received was quite sufficient for the object for
which it was raised. Bathe could not answer the other ques-
tion, for he could not tell when it was probable they would re-
ceive the amount from the South Eastern Company.
Mr. WHA LLEY said he wished to know whether, when that
amount etas received, it would be applied to the purposes of
the Railway.
The CHAIRMAN—TiIost undoubtedly.
Mr. WHALLEY said it would be very satisfactory to the public.
Sir I. L. GOLDSMID wished to know from what source the
interest on the 600,000/. raised in debentures was to be paid.
The week.y receipts were not more than 1,9001. The interest
on the 600,0001., together with the interest on 30,000/.,
amounted to nearly 30,000/. per annum. He wished to know
if this was to be incorpora"led with the Company.
The CHAIRMAN thought the Hon. Baronet was completely
out of order. He (the Chairman) had no objection to an-
swer any question that was in reason, but he could not answer
such unreasonable questions as those just put to him. He sub-
mitted to the meeting whether he ought to answer the question;
he thought he was justified in refusing to do so.
Sir I. L. GOLDSMID said he did nut think he was asking any
improrer question.
The Cif at w said he should decline answering the ques-
tion. The general meeting was at no great distance, and then
the subject could be properly gone into.—( Hear, hear.)
A DIRECTOR said he thought the Chairman had exercised a
just discretion in not answering the question then. The Hon.
Baronet must recollect that the traffic of the Company was not
developed.—(Hear, hear.)

Ist. The earthwork was originally calculated as the price of the
but immediately afterwards a general rise of wages took place,
s.:d consequently a greater price was required for it.
•?d. The quantity of eat thwork was increased to a very considera-
t c extent, by the slopes in most of the cuttings having been made
je :tier, it being ;impossible to ascertain the exact nature of the soil
a such great depths below the surface.

3d. The slippery nature of the materials with which the em.
• akinents were made, occasioned such very great slips, that the
• 'antity of mar crial to make the same good and increase the slopes,
a: well as the faggotting, draining, pounding and puddling, occa-
/id ned a large additional expenditure.

4th. There was a very great proportion of the materials that
cat. se out of the cuttings, that was originally intended to have been
s tee use of to form the embankments ; but the experience of the
ssc that had been made of material of the same quality, in other
p its of the work, demonstrated that it was perfectly unfit and un-
e to be made usa of for that purpose ; the consequence was, that
t; is bad material was obliged to be run cut to spoil, and an equal
y•iantity procured from side-cuttings; and in all these instances
ei. übling the quantity of earth.wink.
th . The quantity of the l;ric-work in almost all the bridges,
Te'aining-walls, &c., was obliged to be increased to give that ad-
i anal strength, which the slipiery nature of the earth, both in
t,..e cuttings and in the embankments, rendered necessary. Great
s—iditions were made to widen several of the bridges, and in other ,
F ices bridges were demanded that had never been contemplated.
. . . .

tlth. The ston.., of the country was calculated to have been made
sat,: of; but comparatively little could be found that was of a suffi-
tient degree of hardness, or that would stand the weather, and
abenfore stone was obliged to be had that came from other coun.
tie% at 2 great extra expense.

7th. The weights of the rails and chairs, and their appendages,
ere all ‘considerably increased;. the experience of other railways
laving convinced the Directors that it would be most economical
5,. add to their strength, as all other railways then in course of exe.
cation were adopting the same measures.
Bth. The sleepers were not calculated to be kyanized in the ori-
ginal estimate.
. . . . . •

9th. The number and extent • of the bridges and viaducts has
teen considerably augmented.
100.—The Tunnels, and their Culvert Drains and Adits, have
cost ntrirly three times the original estimate, those through the
(balk being originally calculated to require brick.arching only
▪ ver the top ; whereas they have required to be bricked though-
01,t with an extra thickness of brick-work ; and a considerable
portion set in Roman cement. No seater was ever expected to be
1 .tied in the Tunnels, whereas during the winter seasons the
• ,tOr very muell obStructed the operations and progress of the
crks, and on several occasions stopped them altogether for short
I."riods.

11th. The extent and dimensions of the culverts through the
b nuelas and inane deep cuttings in the chalk formation, were
never anticipated to have been necessary, but fortunately they
!atve been
executed in such an efficient manner, that they have
a en of the most eminent service during the late season, and could
alot possibly have been dispensed
12th. Circumstances have required the stations to be made of a
snuch more extensive nature than could ever have been thought
LeeeSsarY; and, at all the stations on the line, quadruple lines of
tals have been laid delve, so as to keep the main line always open,
seal land has been taken at the stations on the line for the use of
Casters, both for coal and merchandise, of which I expect a large
t•eflic for, unlike alt other railways, there is no other comma.
rication that can compete wit7e this railway, besides a multitude
of other circumstances that it is almost impossible to enumerate.
SO. In the original estimate there was not anything set down
I locotnotive engines and tenders, first and second class passenger
c vans, trucks, horse.boxes, carriage_trucks, coal-waggons,
4:e.weggons, goods.waggons, cattle-waggons, engiee-houses,
passenger-sheds, offices, warehouses, wharfs, at Shoreham,
c.d:e.ovens, coalstores, both at Shoreham and Brighton, and all the
p raphernalia of the fitting-up and furnishing the same, tee. B,e, &c,
all these articles and things wet e considered as belonging so;ely
t the carrying
department, and for which an estimate was orieln.
a:iy Made.
14th. In fact, the original estimate for the London and Brighten
Iteilway was made out upon the same plan as two-thiras of all tie
tarlways that have been made were c;tculated upon.
That is to say, for a railway with two lines of rails from
terminus to terminus, with a crossing from our line of rails to the
ether, at every ten or twelve miles, with a ."-e_nall portion of land
lila stations.
16th. In the same manner as al the duals in the country have
been made, namely, a canal from terminus to terminus ; now, the
• ensis of these works is the capital of the Company. •
The carriers upon the canal nr king and providing all their
• awn mbasts docks, warehouses, cranes, oliices, boats, horses, a •c .
)","v. the cost of all these establishments is the capital of thecarriers.
lath. • On a railway, if the Company are to become the carriers,
th
• " o!f.°The must provide themselves with the necessary means of

A PROPRIETOR said that the meeting was convened for a
specific purpose, and not to answer questions relating to matters
which it was not expedient to make known to the public,
until the exact state of their prospects was ascertained.—
( Hear, hear.) The season was approaching when they might
confiiently lock to a commencement of prosperity. —( Hear.)
And perhaps the proper time for giving ample answers to ques-
tions of the kind proposed by the lion. Baronet would be in
July next.—( Hear, hear. )
Sir 1. L. Gotnsatin then said that he would not press his
questions.—( Hear, hear. )
The CHAIRMAN then said he was sure the meeting would
feel that they ought not to depart without returning thanks to
the Committee.—( Hear, hear.) He was happy to observe
that although something ruffled the commencement of the

meeting, rtill the conclusion had given general satisfaction.—
(Cheers.) He be:ieved that all would agree with him that
they were deeply indebted to the Committee, and that Mr.
Parsons and the other gentlemen who composed it, deserved
the warme;t thanks of the Proprietors for their exertions—
( Hear)—and for the able manner in which they had drawn up
the Report.
A PROPRIETOR, said, with your permission, Sir, and that of
the meeting, I base the honour of moving that the most
cordial thanks of the Proprietors are due to the Committee
for their zeal and exertions, and thu able manner in which they
had carried on their inquities.

Mr. \Vila LLET had great pleasure in seconding the motion.
He was happy to are th there was now good reason to hope
that the Company was getting over the difficulties which were
inseparable ;ram enterprises of this nature ; and there was no

•
chance of similar difficUlties being met with again.—( Hear.)
Sir I. L. GOLDSMID could not allow the motion to pass
without assuring the meeting that he most cordially,concurred
in it—f Hear, hear)—and he congratulated the Proprietors
upon the very satisfactory character of the Report.—( Hear,
hear.) He felt the deepest interest in the Brighton Railway,
and he would be most happy to co-operate by all means in his

power to promote the prosperity of the Conipany.—( Hear.)
The resolution was carried unanimously, and amidst great
applause.
Mr. PARSONS, on the part of the Committee, returned
thanks. He felt obliged to Mr. Whalley for his approbation
of their conduct in keeping their proceedings private, until
their inquiries were
.completeil-7( Hear, bear).—and he: was

was particularly gratified. ,to find that the Propri,tors were
determined to carry the rccommendatiens of the Committee
into effect.—( Hear, hear.)
Thanks were then voted to the Chairman amidst considerable
applause.

At another grand wolf hunt in the woods of
Clercs, near Rouen, two days ago, four of these destructive ani-
mals were roused and chased. Three were caught and killed
by the dog., but the fourth ese,ped, from the ni4ht cominm on.
The Commerce states that a woman died lately
at St. Michel d'Urfe, near Saint Etienne in the, Loire, in con •
sequence of the Cesarian operation being performed upon her
by her own mother assisted by two other persons.
The Precurseur de r 0 tzest of Angers states, that,
three days ago, M. Curnilleau, a printer of that place, having
presented himself to the tribunal of first ir.stance to take the
usual oath, and produced his license signed by M. Dueffehat el,
the Minister of the Interior, the Court hesitated to receive his
oath, as the signature of the license was wholly illegible. The
document was sent to the Prefect as being more ucquaintcd with
the signature of the Minister than the 'Tribunal, and haring
been returned certified, M. Coinillcau etas allowed to take
the oath.

A CORSICAN VENDETTA.—The daughter of a Can-
tipier at Grenoble, who had previously refined the addresses of
a Corsican soldier, in the eth Light Infantry, was about to be
married to another suitor
; but last week, on the day preceding
that fixed for the wedding, the girl's father was murdered by
the soldier, who was immediately seized and secure.

SPIRIT of the PUBLIC JOURNALS.
FROM THE EVENING, PAPERS OF THURSDAY.
GLOBE.—The prudent silence of the leaders of
the Opposition, on the announcement of Sir R.
Peer§ financial scheme, has not prevented an inde-
pendent movement in the public mind, which will
soon vindicate its own claim to respect. Even the
staunchest morning. organ of the party in power is
compelled to acknowledge this. "It is obvious," says
the Post, "that, without the walls of Parliament, the tide
if opposition to the new scheme of taxation swells apace."
An income tax, under any circumstances, is an evil
scarcely to be endured; an income tax 'in a time of
profound peace, when no sufficient necessity can be
pleaded, would be a nuisance perfectly intolerable.
The large body of moderate Conservatives who
supported Sir Robert Peel and his friends at
the last election, . chiefly that the country might
have the benefit of a Government which should
possess the elements of strength and stability,
certainly never expected a result like this. They
are stunned, they are nonplussed ; they look each
other in the face with a mixture of surprise and
vexation, as though they would say, "Is it really
come to this ? What fools we have been !" A feel-
ing is now, however, widely spreading, that the nation
must be saved from this infliction, whatever may
be the consequence as to, the relative position
of political parties. Sober-minded people begin to
reflect • that a Conservative Government must be a
very good thing indeed, to be worth an income tax in
time of peace. Among that portion of the pub-
lic which is out of the immediate sphere of poli-
tical excitement, the prevailing impression seems
to be, that the tax is- insuperably obnoxious, and
that no sort of case can be made out for its im-
position. A word or two may be necessary to
clear up these points ; we begin with the latter.
There is nothing in the present circumstances of the
country to warrant this absurd interference with the
ancient Ilrinciples of our financial system. In nothing
did Sir ti.. Peel's speech break down so thoroughly as
in his endeavour to show the contrary of this. And
what is the mighty difficulty after all ? We have an
annual deficit, it seems, of—say in round numbers—
two millions and a half, and that is all. The cause of
this deficit is no sort of falling oil' in the geteralNyealth,
of the country, but it springs chiefly, if not entirely,
from financial arrangements. We have taken off
too many taxes of late years, in the hope that in-
creased consumption would supply the deficiency,
and this hope has not. yet been realised. Co-
incidently with this financial position, additional ex-
penses have been temporarily induced by. the • state
of things in India and China. Yet, notwithstand-
ing all, we are only two millions and a half be-
hind !• Can any sane person, who has not a sinister
interest to serve, gravely maintain that there is any-
thing in such a condition of things to warrant appre-
hension ? Yet upon this trumpery showing, a finan-
cial panic is to be excited, under cover of which it is
hoped that Englishmen will allow a mill-stone to be
fastened round the_ neck of their productive industry,
never again, in all hnman probability, to be removed,
except by a convulsion!
STANDARD.—AII our communications from
the country, as well as from City correspondents,
concur in even enthusiastic approbation of Sir Robert
Peel's financial plan. But we must not conceal, that
some who join in .the general acknowledge-
ment as warmly as the rest, qualify their praise
by special objections. This is no more than must
be expected in reference to any general measure,
but it is very inconvenient, and such special objec-
tions as we speak of were to be regarded, no great
measure could ever he adopted. We will illustrate
what we mean by an anecdote that no doubt most of
our readers have met before, though the application
of it is not, it would appear, as generally under-
stood as it ought to be. When Mr. Addison was
Secretary of State in Ireland, he was paid for
his services, not as at present, by a fixed salary, but
according to the • fashion of they time, in fees ; these
fees, though small in the detail, would make up in the
aggregate a respectable income, if they were paid.
Unfortunately, however, the fees were all due
by that class of gentlemen—lrish gentlemen
—and a man of Mr. Addison's accomplishments,
and of his sound Protestant opinions, soon com-
prehended in his circle of friends all the gentry
in Ireland. Now, the last offence of which an
Irish gentleman of any known period would be
guilty, is the rude intrusion of a paltry payment
upon his friend. Nobody could think of thrusting
two or three guineas into the hands of a Secretary
of State, so kind, .so generous, and so dignified as
the author of Cato, the Campaign, and the Spectator.
So it happened that at the year's end Mr. Addison
found: himself without any official income—all the
effect of the number of his friends, their zeal, and
reverence for his character. This, however, was more
Battering than convenient, and Mr. Addison took
occasion to remonstrate. " These fees, gentlemen,"
said he, " are very petty matters in your eyes,
but, put together, they are to make up the
whole of my appointments. I must, there-
fore, request that you will use hiss cere-
mony, do a violence to your kind feeling of
deference, and pay the fees, contemptible as they are,
or I must go unpaid, and have reason to lament the
honour of possessing so many friends." • Now the num-
ber of exceptions urged in pure friendship upon Sir
Robert Peel would, there is reason to fear, leave his
financial plan pretty much in the condition of
Mr. Addison's income; and, therefore, we would
earnestly recommend to those who approve the plan
generally, to spare such exceptions, upon the consi-
deration that, as others doubtless dislike something
of what they approve, if all the Right lion. Ba-
ronet's friends are to be gratified nothing will be
left. On the other side the opposition are lash-
ing themselves into improved anger against the
whole scheme. The Horning Chronicle argues, in a
City article, that as "the. war with China maybe at
an end in a few weeks," and " the war in Affpan-
istan may also soon terminate satisfactorily ; and
that as " in twelve months' time no deficiency may be
" felt from the reduced tariff," an income tax ought
not to be inmosed ; but the "demands of Govern-
ment ought to be supplied by an issue of Exchequer-
bills," oy borrowing upon the most expensive
terms. Now it is not difficult to meet two of our
contemporary's possibilities, by observing that the
wars in China and Affghanistan may not terminate,
and according to all probability cannot terminate so
very soon as is supposed.

memberS. Of the necessity for an income-tax, Lord
Brougham gives the following fair acknowledgment :
" Those who thought that there was no necessity
for the tax might do so ; but, for his own part, he
believed that it was essential, and that they could not
do without it, for the credit, the character, nay,
almost the existence, of the country depended •on
filling up and supplying the deficiency which had
been allowed to arise in our finances. He therefore
was not anxious to defeat it."
This acknowledgment might seem to render un-
necessary the rest of Lord Brougham's speech,
but the Noble Lord has peculiar notions, and
having acknowledged the necessity of the tax, he
proceeded- to raise every imaginable objection against
it—a way of acting sufficiently intelligible, if he
intended to impeach those- Who had made the tax
necessary (himself included), but certainly not
the course that would be adopted by a prudent
patriot. The Noble Lord bestowed a solemn warn-
ing upon the labouring classes not to suppose that
they are exempt from the effect of the income tax
paid by their more fortunate fellow subjects.
They must pay it fully, he said, in the diminished
demand for their labour. ; Now we might shortly
cite one authority, against this proposition—against
which • authority fhe Noble Lord would scarcely
take an exception—we mean Lord Brougham him-
self, who, in the eighth of the resolutions then and
there before the House, actually calls for a direct in-
come-tax upon the labouring classes. Author of the
New Poor-law as he is, we .cannot suppose Lord
Brougham would impose a double income-tax upon
the labouring classes. The truth, however, is, that an
income-tax, direct or indirect, cannot reach the labour-
ing classes—the New Poor-law has sunk them too
low for that. While the competition for employ-
ment exists to the extent it does, and must continue
under the pressure of the New Poor-law, the labour-
ing classes must take whatever they can get, and
their wages will not be measured by the ability of
their employers, but by their own ability to sustain
nature upon the coarsest kind of food. It is also a
fallacy to assume that taxes necessarily diminish em-
ployment.
COURIER.--Mr. Ferrand has great reason to be
proud of the success of his labours and the light in
which they are appreciated, as testified in the daily
tributes to his name of the Whig-Radical Journals.
The Chronicle has another tong article, this morning
to prove how adMirably he has hit upon and how keenly
he has cauterized the sore places of the Anti-Corn
Law League. In the agony of intense suffering,
the patient imploringly calls upon Sir Robert Peel
to stay the excising hand of the unsparing operator,
but we trust the Right Hon. Baronet will be
slow to interfere with a. care not specially fal-
ling within his department, but in reality belong-
ing to that side of the house or hospital coming under
the denomination of the ward of incurables, the
superintendence of which has, with great propriety,
been assumed by the HonoUrable Member for Knares-
borough, who not only professes, but has amply ap-
proved himself to possess, infallible nostrums for
the certain cure of the desperate patients in ques-
tion. ln the course of its cries for mercy and
forbearance our afflicted contemporary piteously
objects that, whereas Mr. Cobden and others,
itself among the number, only applied the terms
" monsters, tyrants, demons," &c., in the wholesale
sense against landlords, farmers, and agricultural ope-
ratives, as constituting the class of the landed interest,
without specific reference to individuals. Mr. Fer-
rand, on the reverse, has travelled into the retail line,
and singled out particular cases in illustration of his
assaults upon the league. Of the two modes of war-
fare the people at large will be disposed to concede
that, at- any rate, that followed by Mr. Ferrand is the
most manly, as it proves to .be the most effective.
FROM THE EVENING PAPERS OF SATURDAY.

GLOBE.—The preliminary discussion of last night
on the finance project of Ministers places the attitude
of parties on that subject clearly before the country.
We now know what are the reasons, or no-reasons,
which Ministers can produce in general debate ; and we
also know what are the motives they appeal to, in de-
fault of reasons. With regard to the former, we only beg
any reader to go carefully through the ea cellent speeches
of Mr. Baring and Lord Howick, and the less detailed
observations of Lord John Russell and Mr. Labou-
chere—we only beg any reader to do this, and then
to turn to the answers of the present Chancellor of
the Exchequer, and the present Prime Minister, of
this country ! We have not, and our readers know we
have not, asserted precipitately the entire sufficiency
of the Whig commercial reforms to immediately fill
up the deficit. But we do beg any impartial persons,
not biassed by privilegedinterest, to examine calmly
what was proposed, as expounded last night by Mr.
Baring, and compare. it with what is proposed now.
Indeed we may say habemus confitentem remit.
Sir Robert Peel felt himself so strong in reliance on
class-motives, that he gave himself little or no trouble.
in adducing general reasons for his tax. There was,
indeed, a repetition of his former inflated description
of our difficulties—and dire exaggeration of them
indeed is required to colour an income tax. But be-
yond that there was nothing in the shape of a reason for
this measure. Sir R. Peel says there is a necessity--
without proving it—without proof; he says he is " con-
fident " an income tax will be the least burthensome—
and without proof he adds the enormous assertion that
it is the most just one. All this, without a syllable of
reply to the repeated demonstrations that it is not
necessary, and that it is not just.
Stet pro ratione voluntas.
To will, therefore, Sir Robert appeals, and not to
reason—to the will of the chief privileged interests in
this country, and in the colonies. Tax income, or
you must take off prohibitive tax on corn and sugar !
There is a necessity. Yes ; the necessity of injustice ;
the tyrant's plea. It is fitly addressed to a " tyrant
majority ;" and it is perfectly understood by them. It
will soon be understood by the country ; and then
Sir Robert Peel's " British asses," whose protection
he has reduced in favour of his " colonial asses" with
such perfect safety (as we will' warrant them able to
compete with any of their species in any market of
the world), will possibly not be able to carry their
Minister on their backs so triumphantly as lie and
they may now anticipate through the opposition he
has yet to meet from public opinion, when fully
awakened to his policy.
STANDARD.—The ex-Ministers have at length
fairly diselosed themselves; faithful, if in nothing
else faithful, to the example of the first Whig—they
resist all means • to extract their victim, the
unlucky country, from the dangers and diffi-
culties into which they themselves have plunged
it, and now they mock at its calamities. This
has ever been their policy--they have always
made enemies for their country, in order that of those
enemies they might make allies of them for their
Administration,
ndeficiency .
a nd e e
tnid
which.
litnhe
a
party. The ex-Chancellor of the Exchequer opened
the opposition to Sir Robert Peel's financial plan in
policyt
aol
prove ong
and
that,elaborate
thethough h speech,
the
n trying
annual
aodf
t
had been created and left unsatisfied by that Ad-
ministration could not be supplied by any taxes
that he might venture to propose, it might be made
something less—a noble object for the Finance
Minister of Great Britain. Mr. Baring was fol-
lowed by his successor in office, who did not leave
a shred of even his miserable creeping argument
unexposed and unrefuted. Lord Ho wick follow-
ed Mr. Goulburn, and Lord J. Russell followed
Lord Howick. Then came Sir Robert Peel, who
delivered the most vigorous and uncompromising,
and therefore the best speech that ever passed his
lips. All the arguments of the Opposition speakers
have been read a hundred times over in the Oppo-
sition newspapers, with much less effect than the
speakers • last night • could have . suppoSed, or they
would scarcely have ventured to reproduce them.
What these arguments are we need not repeat ;
what they leave untouched, and even unap-
proached, is this—the means by which a financial
deficit is to be supplied, concurrently • with the
honourable and safe prosecution of two very distant,
and therefore most expensive wars, and the mainte-
nance of that imposing state of defensive preparation
at home, by which only an European war • and a
war with the United States can be possibly avoided.
This is what the speeches of Mr. Baring, Lore's
Howick and John Russell, do not touch, or even
approach; but this is precisely the legacy which
they have left to their • successors in office and to tl: e
country.
COURIER.--As regards Sir Robert Peel's pao-
position, the great points for consideration are the
taxes he proposes to raise, required • by the financial
condition of the country, and are they obtainable in
a less objectionable form ? No one •alive to the dis-
credit, nay, danger, of permitting the receipts of
such a country as this to fall yearly below its
expenditure, sensible of the exigencies of the public
service, and of the indispensableness of maintaining,
in a state of full efficiency and preparedness the great
defensive establishments of the country, can affect to
deny the immediate necessity for an augmentation of
revenue that presses upon her Majesty's Government.
But besides the plea of imperious, irresistible neceasi t
Which cannot be fairly questioned, much less contro-
verted, another motive impels the Ministry to the adop-
tion of a property-tax—and one that will, we trust,
go far in reconciling the country to the temporary in-
fliction—namely, an anxious desire to relieve the springs
of industry by removing prohibitory, and relax-
ing restrictive, duties on certain great articles
of commerce and consumption. The huge defi-
ciencies allowed to accumulate during the five
last years of the Whig regime, the. requirements of
the public service, and theb important benefits to the
trade and commerce of the country, arising from a
careful and judicious revision of the tariff, are the .
grounds upon which Sir Robert Peel and his colleagues
rest the justification of the proposed tax, and neither
Mr. Baring
.nor Lord John Russell, neither Mr.
Labouch2re. nor Lord Howick (second 'Burke though
he be),_ has yet succeeded in shaking any of these.
How the country will receive the proposal remains
yet to be seen.

imam THE EVENING TAPERS OF FRIDAY.
GLOBE.—The delusion by which the wily Pre-
mier has sought to propitiate the labouring classes, by
creating in them an idea that they are untouched by
the tax, seeing no incomes under 1501. per annum are
to be subject to its operation, was powerfully exposed
by Lord Brougham. His Lordship laid bare the
sophistry of this part of the scheme with that peculiar
facility and force of illustration, in the use of which
he is unrivalled :

" A very great delusion prevailed in the country—
at least, amongst that large class, the labouring popu-
lation, for whom he felt so strong an interest—as to
the operation of the income-tax on them. It was a very
comniom thing for them, or for those who instructed
them, and who should know better, to say that the
income-tax could in no way affect them. There was no
greater
delusion than this. It required but little ar-
gument to show that the labourer was affected by
the diminution of the fund out of which he was
paid. When the capital accumulated, the fund of
the labourer was increased ' • when it became dimin-
ished, the fund to pay the labourer decreased in the
same proportion. The manner in which the income-
tax was levied showed its effect on the labourer. You
levy so much on men possessed of income; all that. ou
withdraw from their capital—supposing them trades-
men, farmers, or manufacturers—came from that
accumulation which they had made this year, and
would probably spend next year. The money which
they paid as an income-tax was no longer an expen-
diture from which they could derive any direct
advantage, for - it was taken from them to be applied
in another way—to support labour of another kind,
which was not productive. if that amount were not
taken from that class, it would be an accumulation,
which would be spent in the same or the next year."
• Let the working classes weigh well these self evi-
dent results from the infliction of this tax on their em-
ployers, and they will see little cause for giving the
Premier credit for considering their interests, in the
exemption for which he and his supporters are dis-
posed to take such enormous credit. We are far
from regarding the Government measure as secure of
passing, in its present form, into law. The indica-
tions of dislike to its provisions among the very classes
to which Sir R. Peel is indebted for his present po-
sition, are strong and unmistakeable. Sir R. Peel
cannot behold those unequivocal manifestations with-
out alarm. He knows well, that so soon as his 4, ma-
chinery" for working the tax is brought into opera-
tion, the injury it will. inflict, and the disgust it will
create throughout the country, will call forth a
feeling which no Government can safely • disre-
gard. Tho responsibility the Premier has incurred is
fearftt!. The Government which he overthrew, upon
the financial measures it proposed, undertook, by
relaxing commercial restrictions, to raise the required
amount of revenue. We • have not now to discuss
whether that result could have been immediate ; but the
mere proposal alarmed the class interests, who combined
against the ministry which had the courage to attack
their monopolies. the result was its overthrov. We
have now Sir Robert Peel ; and, with- Sir Robert
Peel in power, that most odious of all imposts—be-
cause most unequal in its pressure and most inquisi-
torial in its operation—an Income-tax ! The tax, if
brought into
operation, will speedily put an end to
the Governmentw
meat ; and the c illSb- een ttuhruesd
hoafpf
pti hl
ye re evrei
(-1
from both..

STANDARD.--We have said we think enough to
show that a graduated income-tax would change al-
most every man's position ; whereas the only just bur-
dens are those which are borne by society altogether,
without any disturbance of the relative position of its

THE SUN, LONDON, MONDAY MORNING, MARC [l 21, 1842