The Sun.
London, England, 1842-03-16 00:00:00

TALLOW MARKET.

Prices of Russian Tallow firm, with afar demand. P. Y,
Candle on the spot 48s. 3d., and 495. Ed. fur delivery in the las
three months of the year.
SPIRIT MARKET.

Rum sold slowly, and prices were barely supported. Brandy
less wanted, but prices were firm.

THE TORY INCOME TAX.

FROM THE MORNING PAPERS OF THIS DAY.
TIMES.—We observe that the expected debate in the
House of Lords, on Lord Brougham's resolutions, has not taken
place, owing to the non-attendance of certain Peers whose
presence was thought necessary. We confess we looked with
some anxiety to the result of that motion ; we were anxious
to know whether that noble body would perceive where the
shoe pinched, though at the same titre we must acknowlenge
we were not very sanguine in our hopes of their doing so ; or
their Lordships, we must be allowed to say, whatever may be
their individual and collective sagacity, dignity, and integrity,
are not real and experimental judges of the painful effects of
a tax upon trade and professions—that is to say, upon human
industry, in its countless and varying applications. Still less
can they appreciate the odious inquisition by which such a tax
on industry will be accompanied. To say nothing of certain
other advantages, which the Members of that House already pos-
sess, a Peer's income is easily got at ; his estate is known; its
rent is known ; ar.d the duty on the reortgsge, wherever
such exists, may be at once deducted by his own agent from the
interest payable. He has to dread no expo ore—to produce no
ledger— to uniergo no cross-examination—and can hardly be
supposed to understand the adrioy ance, and even danger, which
will arise to others from such vexatious interferences with the
course of their business. In compliance with the request made
to us by several correspondents, who, though strongly attached
to the Conservative Ministry, are yet jealous of a tax which is
expected to press heavily upon incomes acquired by industry,
we republish to-day some extracts from our journal of six-and -
twenty years ago; which may, perhaps, be some proof to those
who tax us with versatility, that though we change our support
of men, we are invariably firm in principles. No satisfactory
answer can be given to what we republi:h ; and if the same
feeling existed now as prevailed at the time when those articles
were first written, no Mini ster would have ever thought of
the revival of an income tax under any form whatsover,
and to whatever extent modified, otherwise than as a
hopeless impossibility. We retain the same opinion as that
which we have already expressed, that Sir Robert Peel's finan-
cial statement is that of a great and capacious mind ; and that
he is pre-eminently qualified to relieve the embarrassments of
the country, p 'educed latterly by the wretched Government he
has succeeded. But perhaps that single circumstance, of his
contemplating one grand system, has rendered him less ob-
servant of the details. We are indeed ready to allow, that
however he and his colleagues may have pledged them-
selves by former declarations never to revive a pro-
perty tax except in time of war, yet evidently that
pledge rested upon an implied supposition, the falsifica-
tion of which wholly absolves them from a bleach of en-
gagement for who could have contemplated that the
finances of the country should have been so mismanaged,
that we should have been continually running into more
debt in a time of peace? Such a prodigious fact as this
fully and plainly exonerates them from their pledge.
The possessors of property which will now become liable should
have lo• ked more sharply to the public concerns when these
debts were contracted, v.hich it will now be incumbent 011
them to pay off. They have all wed successive Ministries to
have their swing, and now they must smart for it. Look, for
insiance, at the famous Exchequer-bill ft sod and folly. Look
at the sums which have been advanced under pretence of as-
sisting the public works. We will venture to say, that of one
million and a half sterling advanced in two cases—for the
English tnnnel and the Irish workhouses—on securities the most
glaringly fic'itious, not one farthing, principal or interest, will
ever be repaid. These promising concerns a e the produce of
Mr. Spring Rice's skill and integrity—qualities on the score
of which he has contrived to obtain a greater sum of rewards
fur himself and his family than perhaps any other man in the
kingdom. It must not be supposed that we disap; rove, under
the present necessity, of a property tax. We do not; but we
must put in a strong petition that every other possibility which
the science of finance suggests be exhausted, before industry be
taxed. We can assure the Government, that there are thou-
Sands of persons deriving large returns from trade and in-
dustry, who would be most glad to contribute liberally to the
public exigencies, but who look with horror at the inquisito
vial character of an income tax, which would empower a board
of Commissioners to overhaul their accounts, and to interfere
with the daily operations of their trade or profession.
HERALD.—Lord Brougham may contend that his resolu-
tions are not condemnatory of the income tax ; and he has
doubtless introduced language into the third resolution which
will verbally support such a view ; but if these resolutions,
taken as a whole, do net mean opposition, then is the majority
of them mere declaratory verbiage. If the Noble and Learned
Lord be not hostile to the Government proposal, out merely
seek to amend it, by limiting its operation to income derived
from capital, and by greatly relieving income the result of
labour, it was surety unnecessary to overwhelm a resolution,
affirming so wholesome a proposition with an abstract dictum
on the general inexpediency of resorting to an income tax.
While we can anticipate no benefit from the House of Lords
being thrust into a premature discussion of the income tax,
before the details—more especially the important portion which
relates to the mode of collection—have been übmitted to the
House of Commons ; and while we think Sir Robert Peel s
acted most prudently in declining to reply to Mr. Baring's
questions last night—still we trust that Government. will not
refuse to make all such substantial.improvements in the plan,
which on riday will be laid before the House of Commons, as
may be suggested, and that without reference to the quarter
whence they proceed. The p eople are willing to make the
sacrifice asked by Government; but we protest against that
willingness bei' g make the instrument of inflicting unnecessary
hardships. Simplicity will be purchased too dearly at the cost
of domestic suffering.
ADVERTISER.—If the smallest income be to bear its
proportion of the burden of the state, it must also have its fair
proportion in the representation. Vie contend that the larger
incomes, under existing circumstances, ought to bear a greater
propor ion of the tax than the smaller, in the same manner as
Incomes derived from landed or funded property ought to bear
a greater proportion than those accruing from professional or
industrial effort, and hereditary incomes greater than those ter-
minating with the life of the individual. If Sir Robert Peel
had admitted these provisions in his scheme, it icon d have
come with far etts nger recommendations to the public. It
is not too late for the HMls° of Commons, " such as it
is," to enforce them on his attention. The turgid rentals
and capitals of the country, so urgent in their claims fur
legislative protection, ought undoubtedly he made to pay
extra for that extra secyrity of which they profess to
stand in so much need. (in this point of the question we are
gratified to quote the opinion of an opponent, the Standard,
who, expressing itself is ith a different intent, remarks—" Taxa-
tion, to be just and equal, must carefully guard against dis-
placing any man from his position, and it is obviJus that the
payment of 41. 10s. by the po,stssor of 15('/. is more likely to
msplace him from his position than the payment of 6/. by the
po:scssor of 2001, a
year." Yes, and our Contemporary
mighthaveadded,thepaymetit
of 2001.,
6/. is more likely to displace
from his position the possessor
"'OO/., than 600/. would the
possessor of 10,0001. Of the inquisitorial tendency of the tax
we must reserve our commentary, which, however, must ne-
cessarily be reserved until the Prem er announces his scheme
of assessment, in which, if most scrupulous care and attention
be not given to the position of merchants, manufacturers, and
traders, the whole scheme, so plausible in the outset, must fall
to the ground midst the general execration.
CHRONICLE:. —A tax on property vested in land, or the
funds, and returning a certain income to the possessor, may be
ssesse I. with fairness, and collected without vexation. It is
when y-u atttmst to reach the income arising from trade or