Star.
London, England, 1830-03-12 00:00:00

IMPERIAL PARLIAMENT.

HOUSE OF I,OIIDS.TUURSDAY.
Lord KING presented a petition from the corporate tr►des of
Scotland, against the East India monopoly, in favour of the
reduction of taxes, and against the corn !ars.
The Earl of DERBY presented three petitions for throwing the
trade to India and China open : from the mayor and corporation of
Liverpool ; the merchants, manufacturers, and others of that town ;
and from the trustees of the Dock Company. Referred to the select

committee.
Lord WHARNCLIFFE presented a similar petition from
Halifax.
The Duke of WELLINGTON presented a petition from the
inhabitants of Sr. Pancras against the Vestry Act.
STAMPS OM HANK NOTES.
The Duke of WELLINGTON—My Lords, I wish to take this
opportunity of giving an answer to a question put to me the other
day by my noble Friend (Viscount Goderich) with respect to a re-
turn presented to the house relative to the number of stamps issued
for bank notes within a given period. I find that I was right in
what I then said, that I believed the stamps for the Scotch notes
were included. I have now to inform my noble friend that it is
impossible to ascertain the number of stamps issued for Scotch
notes, except those for one pound, the account being blended.
The return, I may add, includes the notes of the chartered banks.

DISTRESS.
Earl liEAUCHAMP presented a petition from a parish in
Warwickshire, complaining of distress, and praying relief.
STAMP DUTY ON LIFEHOLD PROPERTY.—INSURANCE.
The Earl of MALMESBUItY—My lords. lam desirous of ob- 1
tainieg a return relating to a subject to which 1 beg to call your
lordships' attention a few moments, with respect to two different '
descriptions of stamp-duty ; one of which is of considerable import.
ance to a class of subjects with which lam connected—l mean agri-
culturists. As the day is now approaching in which his majesty's
government are about to state what are the reductions which they
intend to propose, I think this a fair opportunity of calling their
attention to the subject of stamp.duty on conveyances of lifehold
property. In that part of the kingdom where I reside, in many parts
of Donetshire, Wiltshire, and the West of England, it is very usual
for cottagers to hold their cottages for life. This, I think, is as ex-
cellent custom, and one beneficial to that class of persons. It fre-
quently happens, when they have children, and a life drops off, that
they are anxious of putting in their children's. The amount of fine
is bl. This is the sum generally paid in adding one life to two
others. The hardship, however is, that the stamp on the convey.
ance is 11. 15s. and the stamp on the counterpart 11. 10s.—for they
require, and are right in having that security. So that in a tran-
saction in which a cottager pays 51. no less a sum than 31. ss. is re-
quired by government in stamp duty. This, my lords, frequently
the
acts as a bar to such transactions. If they are content to y a fine
of 5/. for that advantage, they are unwilling—and incapable, OOD
knows, in the present depressed state of things—to pay enormous
stamp duty on that transaction. Besides, a landlord may be inclined
to take the fine by instalments, but the stamp duty must be paid on
the nail—no instalment can be taken for it. (Hear.) lam de.
sirous of obtaining the amount of duty received by government on
such transactions as these, and if it do not form a large sum, which
I apprehend it does not, I hope that the duty will be abolished, as
I am persuaded it would have a very beneficial result in those coun.
ties where such a custom as that to which I have alluded prevails.
The conveyance of an estate in fee, if it be sold for less than 150/.
only requires a stamp of 11. 10s. Ido hope that the attention of his
majesty's ministers may be directed to this point, and that they will
remove this onerous, this unjust tax. Now lamon my legs I will
refer to the other point, where there is a duty imposed, which affects
not only the agriculturists, but all classes—l mean the policy on
whit is called the common insurance from fire. I find, from the
calculations made by those who are willing to insure property from
tire, that in the year 1815, a policy was only 21. (on the 1001. in.
oared), whilst the duty was 2s. 6d.--not less than 125 percent. on
the policy. The duty, in 1826, was raised to 3s.—thus making
150 per cent. on the policy. From more accurate calculations, ii
s as now discovered that Is. 6d. was considered sufficient remunera-
tion for the risk of losses by fire, and the duty was still 3s.—being
200 per cent. or twice as much as the insurance-office required. I
am perfectly satisfied, my lords, that if the tax were reduced an
ircrease of revenue would follow ; for many persons would insure
who do not now insure their property. These are points, I think,
well worth the attention of his majesty's ministers. I beg to
move for " a return of the amount of stamp duty paid on convey-
ances of all life-hold property under the value of Si." Also " foe
a return of the amount of stamp.duty paid on all conveyances of
property in fee, under the value of 1501."
Agreed to.