The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1841-05-04 00:00:00

HOUSE OF COMMONS.-FRIDAY

The Chairman of the Committee ou the King's County
Election reported that Mr. Armstrong had been duly elected
as member for that county.

Lord J. RUSSELL gave notice that, on the first order day
after the 31st of May, he would move that the house should
resolve itself into a committee of the whole house to consider
the laws relating to the trade in corn. IMmense cheering
from the ministerial benches, with counter-cheering from
the opposition, followed this announcement.
The house having resolved itself into a committee of ways
and means, _ .

The CHANCELLOR of the EXCHEQUER brought forward
his financial statement for the year. He, in the first in-
stance, drew the attention of the house to the expectations
he had formed last year of the expenditure and income of the
country. The expenditure he had estimated at £49,499,000
—the income at £48,641,000, leaving an estimated deficiency
of £858,000 which he had proposed to meet by a vote of cre-
dit. The actual results, however, proved to be that the ex-
penditure amounted to £49,285,000, and the income to
£47,443,000, leaving a deficiency larger than he had esti-
mated by the sum of nearly £1,000,000. By comparing the
estimated with the actual income there appeared to be a defi-
ciency of £1,198,000. This deficiency arose, not from any
unfavourable result of the additional taxation which had been
imposed, but from a falling off in the revenue, which, under
any circumstances, would have taken place. The produce of
the 5 per cent. duty on customs and excise had been eaten-
lted from the returns of the year 1— y--

839, which year gave a
great increase on the year before; and, as that increase did
not continue, the additional duties were on many articles un-
productive. The articles upon which there had been an in-
crease, both in quantity and duties, were butter, cheese,
coffee, olive oil, pepper, silks (raw and thrown), timber, and
cotton wool. The articles upon which there had been a de-
crease in quantity but an increase in duty were raisins, tallow,
tobacco, tea, and American deals; and the articles upon
which there bad been a decrease, both in quantity and duty,
were currants, molasses, spirits, sugar, wine, wool, and
European deals. The falling off in the duty on spirits in Ire-
land amounted to £354,000, which was no proof, he felt plea-
sure in stating, of the decreased resources of the country, for
it was entirely owing to the increased habits of temperance in
the people of that country. On the other hand the payments
into the Irish exchequer showed an increase in the amount
of duties on tea and coffee. There had been also in Ireland
an increase in the auction duty, and an increase in the duties
on bricks, glass, ground glass, soap, soft soap, malt, vinegar,
and in the post-horse duty. The stamps and taxes exhibited
an increase beyond the estimate of £60,000. With respect
to the decrease in the Post-office, it was not the result of a
decrease in the number of letters, but was entirely owing to
the increased expenditure which it was found necessary to
incur in that department. The right hon. gentleman then
proceeded to give the following statement of his expectations
of the revenue, and of the expenditure for the ensuing year :

ESTIMATED EXPENDITURE.
Interest of the national debt £29,420,000
Other charges on the Consolidated Fund 2,400,000
The army 6,587,000
The navy 6,805,000
The ordnance
Miscellaneous 2,935,000
Canada lOB,OOO
China
With respect to China, there were some charges in the ac-
count sent in by the East India Company which would be to
be paid by the company itself, and he would therefore put
that item down at only £400,000, and this deduction would
give a total amount of expenditure of £50,731,776. In esti-
mating the coming revenue, he bad endeavoured to take a
very sober view of the subject. The customs last year, which
was rather an unfavourable one, produced £21,700,000. He
estimated them to produce the ensuing year £22,000,000.
The excise produced last year £13,673,000. He estimated
the result this year to be £14,000,000. Stamps produced
last year £7,183,000. He took them at £7,000,000 for this
year. The assessed taxes produced last year £3,989,432, but
as the increased 10 per cent. had not come into operation for
a considerable period of the year, he thought himself justi-
fied in estimating them to produce £4.300,000. The Post-
office he estimated to produce £450,000, the crown lands
£lBO,OOO, and miscellaneous £250,000, making a total of
£48,310,000. This gave a deficiency of income to meet the
expenditure of no less than £2,421,000. From this defici-
ency he should deduct the charge for China of £400,000, and
the navy debt of £191,000, as not being permanent annual
charges on the revenue, and for which it would not be ad-
visable to make permanent provision. This would leave the
deficiency to be provided for £1,800,000. Under the cir-
cumstances he had stated, he deemed it necessary to in-
crease the revenue of the country to £50,000,000, which
would leave £1,700,000 to be provided. In order to raise
this amount it would be necessary either to fall back on
some of the taxes they had repealed, such as the house tax,
or the tax on coals ; or they must bring in those parties who
had hitherto been exempted from taxation by imposing a
legacy duty upon real property, or they must take away those
exemptions by which certain classes were now benefited,
such as the exemption of horses used for agricultural pur-
poses. If they adopted none of these, they must tax those
new articles gas and steam, or lastly, they must resort to a
tax which had now become popular—an extensive property
tax. If they resorted to taxation at all, they must adopt one
or other of these courses, and it was their duty to turn to
those which would throw no additional burdens on the
people. to order to increase the revenue he proposed to al-
ter the duties on timber and sugar. Colonial timber now
paid a duty of 10s. a load, while 13altic timber paid 555., be-
ing a protecting duty of 450 per cent. He proposed to adopt
a suggestion formerly proposed by Lord Althorp, of raising
the duty on colonial timber to 205., and reducing the duty on
Baltic timber to 50s. By this alteration the consumer would
be greatly benefited, and the revenue would be increased
probably to the extent of £750,000 ; but he would be con-
tent to take it at £600,000. With respect to sugar, which,
if not an absolute necessary, at all events might be esteemed
the poor man's cheapest luxury, he proposed to leave to co-
lonial produce a protecting duty of only 50 per cent. The
present duty on foreign sugar was 63, and on colonial 24,
and he proposed to reduce the former to 36. This he be-
lieved would produce a revenue of £900,000 ; but be would
take it at £700,000. which, with the produce from timber,
would give a result upon which they might rely, to the
amount of £1,300,000, leaving still a deficiency of £400,000.
This £-100,000 he did not propose to make any provision for
at present, because of the motion respecting the corn laws,
of which his noble friend had given notice, and which if car-
ried would amply supply the deficiency. On the other band,
if the proposition of his noble friend s'hould not be agreed to,
he must make provision for the £400,000 by direct taxation.

Mr. GOULBURN would not give any opinion upon the
plans proposed by the Chancellor of the Exchequer for sup-
plying the deficiency in the revenue, but would reserve his
sentiments until each measure should come before the house
for discussion. The hon. gentleman reviewed the conduct
of the government since the year 1835, showing that they
have been every year adding to the expenditure of the country,
while its income had been constantly diminishing, until they
at length crowned its embarrassments, by the delusive insti-
tution of the penny postage.
Mr. HUME regretted that not one word had been said that
could lead him to hope that that there was to be any reduc-
tion in the heavy expenditure which had led to this great
deficiency. He had always warned the government of the
result of keeping up the enormous expenditure of the coun-
try, and he had a right to taunt them when the difficulties be
predicted arose, a right which gentlemen on the other side
of the house did not possess, for they had been always urging
the government to increased expenditure. The hon. member
then contended at considerable length for the necessity of an
alteration of the corn laws, and defended the penny postage,
though no system could work well when not governed by a
'man of business instead of by a peer, who, from his habits
and station in society, must be unfit for such a situation as
that of postmaster-general.
Several hon. members on the ministerial side expressed
their concurrence in the views of the Chancellor of the Ex-
chequer respecting the duties on corn ; after which
Lord FRANCIS EGERTON expressed his astonishment, not
that the noble lord (J. Russell) after the strong expression
he had used on a former occasion upon the subject of the
corn laws should have now proposed the subject for discus-
sion, but that he should have postponed the subject for five
weeks to come instead of at once enabling the house to
re-assure the agricultural interests by a single vote upon the
subject.

Lord J. RUSSELL, in reply to a question from Lord Sandon,
said that the proposition he intended to bring forward upon
the subject of the corn laws would embody the principle of a
moderate fixed duty, and the question would be brought for-
ward by the government as one upon which the cabinet was
united.

Sir R. PEEL was surprised that the noble lord should have
postponed his motion on the subject of the corn laws for five
weeks, more particularly as he had connected the subject
with the financial circumstances of the country. The right
hon. baronet defended his side of the house for the course
they had pursued in supporting the foreign policy of the go-
vernment, although it necessarily led to very considerable
expense, _ _

Lord J. RUSSELL said that, owing to the important mea-
sures before the house, he did not see any possibility of bring-
ing the question of the corn-laws before the house sooner
than the period he had named.

Mr. WAKLEY hoped that the proposed alteration in pro-
tective duties would not be confined to the corn laws alone
but would be extended to every branch of manufacture and
commerce. _

--Lord How icx advocated the proposal of a fixed duty, end
would give his support to the government when the question
came on for discussion: _ _

—After a few observations from Mr. M. PHILLIPS and Mr
A. CHAPMAN,

Mr. LABOUCHERE advocated the principles of free trade,
Alk.• - •
and said he could lay his hand upon his heart and declare
that, if he could be satisfied that these principles, which he
had been endeavouring all his life to promote, would be taken
up by gentlemen on the other side of the house, on their
coming into office, he would most willingly and cordially
support them ; because those principles were essentially na-
tional, and had been advocated before him by deputations
from all classes of manufacturers and mercantile men from
all parts of England, and of all political persuasions.
Mr. HERRIES said that the deficiency appeared to be about
£2,400,000, and the Chancellor of the Exchequer proposed
to provide for £1,700,000 only, leaving a deficiency of
£700,000. This alarmed him, for he feared it might be the
intention to meet it by enlarging the sinking fund through
the medium of the Savings Bank Act. This was a dangerous
and most unconstitutional step, and if there was any such in-
tention, he should most certainly oppose it.
The CHANCELLOK of the EXCHEQUER said that such a
power was one which no minister ought to possess, but so
long as he did possess the power, of funding exchequer bills
through the medium of the Savings Banks Act, be should
not hesitate, if necessary, to exercise it.
Mr. VILLIERS expressed his gratification that the question
of the corn laws was at last taken out of his hands by the go.
vernment, and pledged himself to give them every support
upon the question, when it was brought forward.
Mr. Alderman THOMPSOV contended that the shipping
interest of London were not favourable to the removal of the
restrictive duties on timber and sugar.
After some further discuision, the motion of the Chancellor
of the Exshequer, which was one of mere form, was agreed
to, and the house resumed.
'he other orders of the day were then disposed of, and the
house adjourned.