The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1854-05-09 00:00:00

BOMBARDMENT OF ODESSA.

The Vienna. paper Presse contains details of the bom-
bardment of Odessa. The loss of the Russians, who
displayed the greatest intrepidity, is stated at 200 men ;
more than 300 were dangerously, and more than twice
that number less seriously, wounded. Six magazines
were burnt. The city suffered comparatively little, though
a few of the principal buildings, and among the rest the
Woronoff Palace, was a prey to the flames.
The terrific cannonade has broken all the windows, and
many chimneys have fallen, and the steeples of many
churches are injured.

Another account says the Russians gave as a reason for
firing upon the boat of the Furious, that she was taking
soundings.

No authentic official report of all the proceedings is yet
published.

It is stated that the French envoy at Constantinople
will be replaced, and that he will receive the command.of
the army in the East.
Private letters from. Constantinople again speak of the
Turkish treasury, and the difficulty, not to say the im-
possibility, of replenishing it.
INDIA AND (,PE OF GOOD HOPE.

PLYMOUTH, MONDAY MORNING.—The steamer Lady
Jocelyn arrived here this morning, with the mails from
India and the Cape. Her dates are as follow :-Sand-
heads, Feb. 16th ; Ceylon, Feb. 24th ; Madras, Feb. 24th ;
St. Helena, March 4th ; Mauritius, March 13th ; Cape,
March 27th ; Ascension, April Bth ; St. Vincent, April
19th ; Cape de, Verde, April 19th.

Very contradictory accounts are given regarding the
gold in the Cape colonies. It is said that the quantity
found is not sufficient to remunerate the diggers.
The Argo arrived at the Cape on the 25th March, and
the Propontis at Ascension April 7th ; the Natal steamer
arrived at the Cape of Good Hope on the 19th March.
HOUSE OF LORDS.—MONDAY, MAY 8.

The Earl of EGLINTON appealed to. Lord Brougham to
postpone till another session the Bankruptcy Bill for
Scotland, or to afford further time for its consideration.
Lord BROUGHAM said he would state either to-morrow
or on Thursday the course he proposed to take.
The Marquis of WESTMEATH moved for a copy of any
memorial or petition to the Lord-Lieutenant of Ireland in
favour of a commutation of a sentence of death upon a
man convicted of murder in Westmeath.
After considerable discussica4 a portion of the papers
moved for waslordered
The Church Building Acts Continuance Bill was read a
second time.
Their lordships adjourned at 6 35 p.m.

HOUSE OF COMMONS-MONDAY, MAY 8.

Mr. C. FITZWILLIAM took the oaths and his seat for
Malton.

Lord J. RUSSELL moved that government orders of the
day take precedence of other orders on Thursdays during
remainder of the session.

The motion was opposed by Mr. FEEWEN, Mr. LOCKE
KING, Mr. SCULLY, Mr. NEWDEGATE, and Mr. DISRAELI
Mr. SPOONER suggested that the notices of motion
already given should be excepted from the operation of.
the motion, and ultimately it was agreed that government
orders should have precedence on the 25th May, and every
alternate Thursday.

THE

FINANCIAL STATEMENT.

A DOUBLE INCOME-TAX !! !

INCREASE OF OTHER TAXES !! !

The house went into committee of ways and means.
Mr. GLADSTONE stated at some length the reasons
which had induced government to take the course they
had adopted with respect to the finances of the country,
which they felt bound to justify. He adverted first to
the accusations levelled against the government, one of
which was, a gross mismanagement of the unfunded debt
of the country, in lowering the interest on exchequer bills.
This step was not hastily taken, and was demanded by a
due regard to the interests of the public. This he showed
by a reference to various financial operations at different
periods. In justification of the course taken, he referred
expressly to the state of the money market in February,
1863, and his duty was to borrow money at the rate the
market afforded. The market varied greatly for six
months afterwards, but not until six months subsequently
were exchequer bills at a discount. The next charge was
that, by a reaction from the reduction of the interest, the
rate we were now paying was too high, namely, twopence
a day ; but this charge, he maintained, was not well
grounded. He felt it necessary that lie should have the
confidence of the house, and if the house disapproved of
the principles on which he managed the national finances,
the, sooner he knew it the better ; but he alone was respon-
sible for the measures which were adopted. He then
alluded to his scheme for the conversion of the public
debt, on which another charge against him was based.
He frankly allowed, however, that he regretted that the
operation had been carried into effect, not because he
admitted that it had produced pecuniary loss, but because
it had caused
sated by any grZlater inconveniences than were compen-
trivial gain. He then adverted to the rela-
tions between the government and the bank, on which
he dwelt at considerable length, with a view to remove
'various misapprehensions now afloat. He denied that he
was an habitual borrower, and, though it had been ear,
I rently reported that he had borrowed £3,000,000 or

TUESDAY, MAY 9,1854 t

£4,000,000 from the bank during the lot quartileriill o'l'
truth was that he had not borrowed a single ttioo
He ascribed the delusions which prevailed to a n'esolifi
statement of accounts put forth. He would lion h the
the views of government, and the measures wrei the
proposed to adopt. In March last he estiniatent'..e bf
revenue of the year would exceed the
£407,000. Since then, however, additional estirloce,
been prepared, and granted for the army, narf2,o PO'
and militia, amounting altogether to £0,000,uov;,1001,
sion must be made beyond for charges at present lin doll
owing to the state of war; for these he PuDtel.
£850,000 additional to the £1,250,000 already g,,,,re
The result was that government intended to ask the
to make provision for a sum of £6,850,000, which %lido
government thought ought to be provided by an 3 double
to the taxation of the country. It was Pro Posed totodi
Pr,
the income-tax for the second half-year : this he
duce £3,250,000, which, added to X 9,582,000, the oust
expenai ioj
already granted, would bring up the entire receipts of,t,
year from income-tax to the sum of t 1:12 832,0*
he
government would ask the house, then, to grant,
creased income-tax from 7d. to 14d. in the pouno to of
the continuance of the war, retaining the distine cog
t
the sd. rate, which would then be 10d. for Pers°l',ed that,
incomes under £l5O. It would further be Pr°r" to-by
as soon as the war ceased, the augmented Inc°no tyt
would cease, and government would fall hack 111`,-e' 03Jet
previous arrangement. The total provision too; ho
by new taxes would be equal to about £10,10,, hoe 513);
thenagrave question arose as to the mode inwhic
scass
ditional amount required should be made up. , od
tre
considered just to increase the income-tax L'ePtio
amount he had stated, nor to propose any; altera site
any other direct tax. Government did not inten
the penny postage, or the duties on soap, tea, or
It was proposed to augment the duties on spirits in " Ile
land Is.- per gallon, and in Ireland 18d. per ga11:04.,
estimated that a sum of £450,000 would thus be P
The sugar duties would be modified to the extent g hes!:
to 2s. per cwt. upon different kinds of sugar, an hiep
mated them to produce £700,000. A considera
remained, however, to be produced, which it was Psjeliti?
to raise by an increase in the duty upon malt'
It was proposed to raise it from 2s. 9d. to 4.5. 07
,0
The nt Feceipts from this source would be t:',:t.V,56,7,0

The whole amount he expect-edloofiaTin was 13'''111F
The net augmentation to the burden of the cte° Ace
would be only £8,683,000. The malt duty wt'ul,aol,tP•
for the war—the spirit duty would be permallen''olll
sugar duty only daring the war ; but some proly,,,
required for the interim. Only £2,840,000 01,1e9
taxes would be received by the Bth of April nelrOtt,
£4,010,000 of Exchequer bills, and so manytiletl
bills as would complete the amount not taken of
fire „iv
chequer bonds. Altogether this interim Ineas-Atila e
produce £5,500,000 of temporary securities. This '
gether raise the receipts of the year to £66,74'' r 1"()
a de,
expenditure he estimated at £63,039,000. Aln ,i'te;
thus be left of receipts of X 3,700,000, or, to be I;c'.of
£3,500,000. He then reviewed the financial pcs"'he'"
predecessor, stating that, after full consideration !,6A
his colleagues had found it impossible to frame a;i1041
tory reconstruction of the Income Tax, fray
ot
specially to the Succession Tax last year, the a"%ea,Sio
the Soap Duty, the remodelling of the Assessed ',Plop,
other reductions, which still left a surplus of 3' tioa
at the end of the year. Referring to the cluesnue P`",,a
loan, he stated, emphatically, that if there wa ; a Pj„,
in the country who had an interest in inale,lietirol
it was himself (the Chancellor of the P.%ilip e,d
He warned the house against following tinroll Wry
Mr. Pitt, and for a time, at least, to abstain I „ey.
recourse to this ruinous mode of raising ra°,l-0101.3:0
made a powerful appeal to the house, con-roow-to
second the efforts of government and furnish th..„e Ks°o4
they asked for the maintenance of the interestf',.loo
of the country. Mr. Gladstone sat down ainiso,.:," apv
continued cheers from all parts.of the house, P..
lastine
resolutions embodied in the statement of
cellor of the Exchequer were then.read. to s
Mr. DISRAELI said that, after the elo,bora„grtile
made by the right hon. gentleman, he should "0p ty
•
house proceeding further at present. 60406
Mr. GLADSTONE urged the necessity of Sane asP 0
first class of votes, namely, the increased taxes -yease't
malt, &c., on the ground of considerations of t 131.141
had been always done. He was perfectly wil'imc,positl"
day should be fixed for the discussion of the Pr sit
of government. OP'
Some conversation followed, in. which Mr.
ones
F. BARING, Mr. G. BALL, Mr. BANKS, and C°l°olcliti!
TINCK participated, in reference to the proPose".,i class
taxes, after which resolutions affecting aspe of
votes. were formally agreed to. „nolo°, foe
On the CHANCELLOR of the ExcnEQUEB Prs'utroc"
the resolution relative to the sanctioning the co , ,iD
£1,000,000 of Exchequer bonds should be Pass%colreuty
Mr. DISRAELI said the whole scheme was 1". with the
the resolution, and to pass it would interferefiloved
discussion which was fixed for Monday. tie a '.l'
Mrs. nem
GLADSTONEent of the
contended resolution
that Parliarn
. de rea.d
th
variably sanctioned such contracts, and he lls
xel
precedents ought to be followed. , : aelY ttiof/
The resolution, it was understood, was
h sumo
to pro forma, and the whole• question, on t.,,e,„claYtir
of Lord J. RUSSELL, i will be.ds cussel in blP'
the Chancellor of the Exchequer to brill'
morrow (Tuesday).
Several other bills were advanced amendmentsge'
The County Court Extension Actthe
Boundary Survey (Ireland) Bill were reaa a tee'
Mr. DRITMINIOND moved for a select „,"mitt
Oil IV
subject of the Crown forests.—Agreed to. 40,
Sir J. GRAHAM moved for- leave to bring pifeL,V
the encouragement of seamen and for more
manning the navy, and likewise for faeilitatilir
tribution of prize money. a °Lb'
After some remarks from. Sir G. PEcH '
leave was given to bring in the bill.
anSdirJ. S
addressesl EL, LaEf Ypambollavedheraforaaf
allret
Mr. HATTER said he would furnish all the lu
for IC.
the Treasury could give.
After some discussion the House
motion, 36 ; against, 52.. Majority against
The house adjourned at a quarter to twelve
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,01' na,
~ Ita,, d;a -pa
FUNDS, STOCK, AND SHARD '' cArzoress,,er•
English Securities maintained a steady esPbeirecito'"legtoP
tations no material change. Railways eXllLoc st
.1, de
throughout the day, but closed with a tended[ OOO
Land, Bank, and Mining Shares, fully sullot'et"
day's quotations. In Foreign, Dutch iI 3
Se 3
scriptions unchanged. . d•'
Consols, CLOSING PRICES. ..;'l.•
Consols, Account .. 1 .„ 3 Bank Stock ..,•••• ',-,•
Do. Money.... I '' 4 0 Exqr. Bills, ''"'
, 4
Three&QrperCents.. 87/ f '
••• PO
FOREIGN STOCKS. ..ivies .. 0
Mexicans 23 'Spanish .• v 0
Spanish Deferred
Do. Threes 36f Do. Font
.• 011
RAILWAY suAass• ~,ern.•;eip lir
Amberg.,Nottingham, Leeds. NoriZ. Wes;e,ro
and E. Junction 44 f London & 'Z. Wes'ood oli
Caledonian
Do. Preference
Eastern Counties
East Lancashire 5B 60 Midland Stoc. ~ ... ,
; *s•''rek" •
Edinburgh & Glasgow North Br•Opref_ ,e .• ON
Great Northern 854 64 Do. .44.111.,APie0.
Do. B ll9 21 North Stan;ro nna
Great Western
~, yrc ,•• d ..,
Lanc.and Yorkshire sBf 9f York, •,,e- . ton
Do. Fjfths
London,Brighton,and
South Coast...
Yorks
BAeDar oaws
n.
si Berwick
l'fl
C . •P
. .

1
.... Z G.
MINING • s
Nugget, Registered
....• ..i
Noveau Monde , .."
r .. r I
LAND SHARKS. ..••
...
Australian Agricultural 37 8 Peel Rive- .4.••".
..-
S. Australian — Van Dien/tit'alias •
S. Australian Invest. N. B. Alis' ,olt
heavy.q uant i t
CORN
o f A
Foreignsmal iyEonfglEisthigitisrhadWe
prices. Foreign holders not inclined to Bo for
13 ans, idY
Flour and Malt unaltered. Barle)r, ehaaes c
sale. The Oat trade steady, but Porc— reig°'
diate wants. hdeutilti3O
airtesej:,lo-
are.tl
aYlv•
er
alitroc
F°,oB
ARRIVALS. josh. 61
English. '_- 111.
Wheat 1766 257 lj,
Barley 1434 0322
Oats 412
Malt 2434 -- Fa,'
Beans
Peas 4B 50 2,Vtleil-eip.
Flour ... l5lB
~ . coglislie, pito', 05
SRCOND REPORT.—Trade closed do••!fr ct sot f°;,, 01,e
T e e ted• pest' II
dined Is. per qr. from last Mond*. -2acceP . Do
a reduction of Is. to 2s. must have be gar narlo',o,
altered, but American barrel Is. lower..t last r
Peas, dull, but not cheaper. Oats flan "I d'
demand less active. Seeds unaltered.
do jo
----- ,xB 1 r •
_,vriot'ile
PRODUCE M 1"" port'iii: tre
fullY suP st° 11,1.
Sugar Foreign dull, and prices sale ,o, ,14.
, al. : ic 0
little doing; Brown Lum 445. ,013 s. to ow TO
Ceylon, 445. to 445. 6d. ;Plantation,ed. AS to
demand good, and rates well maintains. 7_l
freely—Madrag,White Fteogs'ustain.--, 0,
Cotton : sales small, and terms barely s I o"eig
---.-
...,,,r . 39 Gip
TALLOW MARNA -ra'stocigige
Tallow firm, and in, good detnon"*..ear l
against 24,364 casks same time last 1 irear•
casks, against 1,608 casks same time last ' di; L'''‘e.
-- to II
t 03
nd
CATTLE AICET• .
Beasts sold at last Moay'sM pricße Sheep o
s. s,l t° ss 55
d
Lambs and Calves did not sell so well. 35
.0 to
Beef 2s 8d to 4s 6d I Pork ..„...„. •••'. Ss 6)
, f
Mutton , 3s 10d to 5s Od Irish ow".
Veal
•'
ARRIVALS•
.....•
.. ,
4815 1 Calves •....... 4;1
-••••

Beasts

Sheep and Lambs .... 2123.4 Pigs. `
.... •
Holland Beasts ......... ... • • „• • /4
Do. Sheep ................... „ ••.. kit
Do. Calves ................ • • •• •
gt
Spanish Sheep ................... •• • • •
Scotch Beasts .. . , ............ •
...• • • , 40,
Norfolk and Suffolk ......... ..... • ~s;•0•0.eP
viCqpiertli
MANCHESTER STOCK 100 so
Lancashire and Yorkshire, 581 ;
93 ; Midland, 56 1 5.7.

East LancashslirEe ..-, O'. itiv
i ,DI4SIS;TmOidCiICandEs,X6C7 ra
shire, 59.ncaohlre

Wen?
LATEST SHIPPN. froolo
VES.SaII
and City of Hobart, forA.ostralia ;
111.9 SPOKEN.—April 130. Wa.iiqu0
1001
May 7th, Red Jacket. April 20 1

AL
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A GITRAILNDII CHORALAR MNPEIti:°I-11:1a/114
THIS EVENING (TUESDAY), I"
ADMISSION, ONE SI1110Nv•

chTasoe
------- p o
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MONEY TAKEN AT TO dest
THIS DAY (Tuesday), the Oth instaot.n,..,
(See Advertiseale ;
prevent Tickets di:ptphoeinptmhieinb---ta,rnaorntijecs:nasrlei, reporiboos-

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LIVERPOO 3tor,a, ,j 1;.
Printed and Published ever! l',OeTNAaY CRlOlOl.l7O'
Proprietor, ROBERT PEAASOIs,F,NEEA Ore
Percy-street, at the STANDARD ~,ssc.ol.,
OFFICE, No. 4, Sr. GKOKOII.S v'
Tuesday, May 8,183},

Affil!'";
to ,5! ';j

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