Star.
London, England, 1822-05-25 00:00:00

the duty of the year 1812 be giverrup, are.
elit AT ticie would be on- the same tooting as to 'tax
a; it was from the time of Queen dime to the year
hear).—But he must warn the House
that. unless it watched in this case, the.consumer
Would be in danger of being deprived of his just
bertefit. The House must be as wary in this instance
as it was With regard to the brewers not long back,
and the remission of duty should not take place till
t;:ey had a fair experimental assurance of fair dealing
_4llpar, hear).—He said this, because he thought the
reduction in the price of leather since the peace did not
bra' A fair proportion to the reduction in other articles.
~jut, if accompanied with a bonajde reduction, it
vouid prove of great benefit to the inferior classes,l
%vtfl raid their full share towards the consumption
ef commodity--(Hear, hear).—The amount of
;his reduction would be 300,0001. The amount of die
whole revenue from the tax on leather was 600,0001,
and thus one-half would be given up—(Hear, hear).
He had got so far in the work of remission ; but be
Lid great satisfaction in saying that he was not yet
at the end of his Budget—(Hear! and langhter). He
had another reduction to propose, which he thought
was equally desirable. They had all heard, on the
subje:t of a Bill relative to the Navigation Laws, that
notwithstanding the general benefit to Commerce,
from the liberal principles of trade arising from the
relaxation of those laws, there was one important in-
terest which did not particicate in that benefit, but,
on tl.e contrary, languished in depression. He allude I
to the Shipping Interest, and he thought that any al-
tevia.ion of the burdens upon that interest _would
spew a most gratelul protecting spirit on the part of
the !louse, at the same time that it assisted one of the
was: important branches of the commercial i,aterest
of the country. He proposed, therefore, that the ton-
rage duty granted during the war should be discos.
tinned. This was iu amount 100,0001. which, added
'01,3.50,0004 the amount of the remission of taxation
on tla. other articles before specified, would be in all
1,930,0001.—(Hear, hear).—This was more than was
warranted by the anticipated. saving of 1,800,0001.
clear of the 400,0001. to be reserved from the whole
0290.0031. But he expected that the remission of the
S.tlt Tax might operate an increase in the revenue
front increased consumption to the extra amount.-:-'
He certainly hoped that the remission of two milliOus.
of taxes would not produce an ultimate loss to the
PahUc—(Hear, hear).—He hoped that he had thus,
without entering into any very minute and particular
calculation, s,rtliciently explained the principles.of the
mod.: of management, so as to'be fully understood
by the House. This way of accomplishing the wishes
of the House was better than the other, and the House
ought not to sacrifice an advantage because it could
Lot be obtained through the means originally con-
templated. It rather became it to try some other
arrangeinent, if it found that impracticable. He was
decidedly of opinion that the arrangemeiits. he had
stated to the House were capable of all the benefits-
bel;ad in view, and were likely to be attended with
as aitue disadvantage as was inseparable from a plan
of this nature. He therefore hoped ti at the Com-
mittee would allow him to move his first Resolution.
—Tile Right Hon. Gentleman sat down amidst loud
cheering from all parts of the House.The.fcillowing
was then put horn the Chair :
" That it is the opinion of this Committee, That, for the pur-
pose of- apportioning, conformably to the Resolutions of this
House of the 3d day of this instant month of May, the burden.
occasioned by the Military and Naval Pensions, it is expedient
that an equal annual Annuity of £2,800,000, terminable at the
end of 45-years, should, from the sth day of April, 1822, be
veited in trustees to hemmed by Parliament ; and that the said
Annuity should be charged upon the Consolidated Fund of the
United Kingdom Of Great Britain and Ireland."
Mr. CALCRAFT congratulated the House on
what had fallen from the Right Hon. Gentleman.
He (Mr:C.) must have fallen into a great Mistake,
when, at the .commencement of the Session, he
thought the Right Hon. Gentleman had stated, that
the remission of taxation would do no good. On the
Salt Tax, the Chancellor of the Exchequer had gone.
far beyond him; for he (Mr. C.) had only proposed
a remission' f five shillings in the first year; while
the Right Hon. Gentleman had repealed 13s. out of
15s. The course of the Chancellor of the Exchequer
that night was an encouragement to perseverance on
his side of the House. He was not prepared to say
how far the fisheries could bear the Tax ; but still the
e oin g away of the machinery would be a great boon.
At the same time he was of opinion that the duty on
French salt should be increased. He did not well
understand the plan of the Right Hon. Gentleman.
Ilad the Right Hon. Gentleman only, in his first Re-
solution, substituted the Sinking for the Consolidated.
Fund, the whole would have been easy and dbvious.
tit the Noble Lord and the Chancellor of the Ex-
chequer had said much more against remission of
tat ation, than against the encroachment on the Sink-
Fund.
The Marquis of LONDONDERRY should be ex-
;:emely sorry to cloud the happy dawn that so cre-
ditably sat upon the faces of the Hon. Gentlemen op.
polite. Should the fisheries of the country be in-
jured by the duty, that would, of course, be an object
of consideration for the House. At the same time he
the Marquis of Londonderry) would be guilty of de-
1...310n if he held out the hope that this great remis-
sion of taxation would relieve the most suffering part
the community. As to the plan itself, the Public.
°Uhl now be theirown Contractors. There was no
c;,croachment on the Sinking Fund, till it had reached
'its maximum at compound interest. if the Honour-
Gentleman wished to marry the two Funds, there
eculd.beu Sinking Fund of ten millions.
Sir J. NEWPORT had no wish to disturb the hat.;
I molly' of the evening; but he rose to express his site.'
..ere satisfaction that the Chancellor of the Exchea
quer had acceded to the wishes of Ireland, as to the
repeal of the Window Tax. The repeal of the-Hearth-
Tax would also be attended with much advantage to
Leland. the present plan was more acceptable to
hoe than in the hands of any contractors, though he
wooid have preferred the mode of the Sinking Fund.
Sit R. SHAW thanked the Right Hon. Gentleman
in the name of his constituents, and of Ireland at
hir;;L., for the boon that had been conferred upon her.
lk Lad hardly anticipated so favourable a result.
lhr CHANCELLOR of the EXCHEQUER, in
LO 4 ti.gestion from the last speaker, ptated
that all pel 1:)laS who had compounded for their As-
Lessed Tans, and made payments beyond the sth of

11010411-
sow b.
collected %those a considerable VIM MAO.
Nebbid %
itttaidity Jett 001,16.00 t
stead ot layhita k
44 cid 6 the Plait* *bn4ta be
bettel to dimaish the bounty. as rather to take off
rho tas almorther. • Th• ainiows mods tif raising the
Miley oeseesary for the repeal of the taxes would he
to make use or die Finking Fond. 'fie plan Of the
'Chancellor of the Exchequer inWered spaterially
with that Fund. He trusted the House would not

epee to the appointment of a double set of Commis-,
;loners. From Ll2OO the expense of the Sinking
Fund had increased to £6900 annually. He should
move that the Commissioners should supply the dif-
ference between 0,800,000 and five Millions out of
thi Sinking Fund. He could not conceive in what
way the Noble Lord could snake out a Sinking Fund
of ten millions.
The Marquis of LONDONDERRY explained.
Mr. CURWEN hoped the whole duty on rock salt
would be taken off; and he then believed the trade is
that article world become very considerable. What
had passed that night in the House would give great
satisfaction to the country ; and also materially be-
nefit the agriculturist.
Mr. DAVENPORT testified his satisfaction at
what had taken place. He hoped the subject of cheese
and butter would come under the consideration of
Government.

Mr. W. SMITH was sorry that the tax had not been
wholly repealed, as by that means the whole of the
machinery would be done away. lie-could also have
wished, thatthe Leather:fax had been wholly given up.
Mr. J. BENETT reverie'', that the Salt Tax had
not been wholly. repealed. He would rather have
seen the whole of the Salt Tax taken away, and the
Leather Tai let's's it was.
Mr. BAIGHT wished the whole duty on Salt had
been removed; at the same time he felt much-plea-
sureAtt what had been done. The removal -of the
Tolisrage Duty would also be of thilCll e Servic to. the
.
§Okpping Interest. -
Mr. HOTCHINSON would suggest .to.--the Hon.
-Member for Aberdeen to postpone hii Amendment
to the bringing up of the Report. He begged leave to
' thank the Right Hon. Gentleman for the attention he .1
bed paid to the interest of Ireland.
Mr. RICARDO hoped that his Hon. Friend would'
persist in Ms moticin. . He, too, felt gratified at the
'proceedings of that evening. At the same time he did
not think the Ministers:vikre entitled to the gratitude
of the House. The sNme of the Chancellor of the
Exchequer was onl?an annual loin; the transaction
was neither more nor less than adencroachment on
the Sinking Fund. . .
Mr. T. WILSON was much Mortified at the failure
of the former'plan; but was compelled to designate
the present as an encroachment on the Sinking Fund.
He wished that the Wool Tax had been taken off, as
it pressed heavily on the manufacttirer.
Mr. MAI3ERLY was surprised thatthe Chancellor
of the Exchequer was praised for taking off two mil-
lions of taxes, when he was, in fact,' negociating a
loan to enable him to reduce the taxes. The Chan-
cellor of the Exchequer had talked iif keeping up
credit by a Sinking Fund, when he must have known
that the nation wished for no such thing. Thii was
nothing more than an ordinary loan, for everyone of
them wa, intended to be paid off by a Sinking Fund
in forty-five years. If the House consented to this; it
would be lending itself to rob the Public,- when the
money might be taken from the Sinking Fend.
Mr. HUSKISSON joined in congratulations on
this reduction of taxes, which he hoped would be
echoed through the country. It was no fraud on the
country to get rid of a dead expense, which was gra-
dually diminishing, without resorting to the Sinking
Fund. He was satisfied we had not a surplus of
revenue applicable to the discharge of these annui-
ties. This measure was no infraction of the Sinking
Fund, and would not hinder the reduction of the
Public Debt—(Hear).
Mr. H. GURNEY preferred the proposition of the
Hon. Member for Montrose to that of the Chancellor
of the Exchequer.
Lord J. RUSSELL said, that if the Sinking. Fund
was but the surplus of the Revenue, it was arithme-
tically clear that if they took away two millions from
the surplus revenue, we should have, out of five mil-
lions, but a Sinking Fund of three millions. He was
one of those who lamented the laying on of three mil-
lions of taxes in 1819; and he now rejoiced that this
year they had taken away £3,400,000. At the SAMe
time he wished theSinkingFund done away altogether.
Alderman HEYGATE had an objection to the re-
duction of taxes eithout a reduction of expenditure
also. This was burdening posterity with that which
we should pay. He thought, instead of the repeal, the'
seduction of the window-tax would have given the
most satisfaction. He eulogized the Sinking Fund, as
being of the greatest use to Ministers during the last
war, In the raising of kans at a very cheap rate.—
Thi`s measure, however, was nothing more or less than
to raise an annual loan in the market for 45 years.
Mr. W. WILLIAMS said, that for every Loan a
Sinking 'Fund of one per cent. was to be upheld, in
order to pay off each of those Loans in 45 years.
This contract with the Public had been broken, and
yet the Chancellor of the Exchequer talked of public
faith, and the support of public credit. He differed
from the whole system of -finance contained in the
present measure. We must come back to a natural
state, such as that of SO years ago, and that could only
i be done by getting rid of a Sinking Fundaltogether.
Mr. CRIPPS thought the Chancellor of the Ex-
chequer deserving of praise for this reduction ; but if
some observations were not made on it, the Public'
would not derive any benefit froth it, because tracles-1
men would not make the adequate reductions in the
prices of their articles.
The Committee then divided.—For the Original
Resolutioris 115—For the Amendment 55—Majority
80.—The Resolutions were accordingly agreed to.
Ni-. HUME said, that as he was sure this measure
was intended to break up the Sinking Fund in, as in-
direct manner, he should, on bringing pp the Report,
take the sense of the House as to applying at once to
• the Sinking Fund for the money to be required..