The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1844-05-07 00:00:00

whit„ !,ad 1512, .1:3.100,00d, and that this
tae W3S Mt the double of supplying, dur-
ing >in interval, the ',recital. deficiency of the regular re-
y.-:.ne 0. the et-untie?, and for giving time for certain re-
pealed dimes to recover, so as to be as productive as be-
fo, e the reduction was effected. As this question is in-
teresting and import a it, we will give the Chancellor's
own words upon ir. "The income tax was submired by
toy rieht hon. fr;cod to the house, and he stated his opi-
nion that if this t x were continued for five years. it would
have the effect witch he anticipated. (Cries of " Three
rears.") My rig ut hon. friend took it for a shorter pe-
ned. My rig ,t ton. friend indeed took it for a shorter
period—for three years—and he did so on this ground,
that if at the expiration of that period the result wh,ch he
had anticipated to occur at the end of five years should
not occur; then the house would have an opportunity of
considering whether they would continue that impost for
the same period, or whether they would
.take another
mode of supplyng any deficiency which might exist. I
have n i hesitation in saying that, at the present moment,
I cannot firm a.iy estimate of what those reductions may
be. When I I ,ok t.t the list of articles in the tariff on
which reductions .if duty took place, and at the increased
consumption which his taken place of those—when I find
that only on five has consumption decreased, while on all
the rest consumption has increased—l must say, I enter-
tam, very sanguine teelings as to the ultimate success of
the eapj-iment. But the house will be good enough to
bear in mind that in some main articles—timber, I will
especially mention—on which a reduction of the duty has
taken place, th it reduction did not come into operation
until the middle of last year. The experiment, therefore,
in these instances, has not had a fair trial ; and I am not
therefore, prepared to say what course ought hereafter to
be pursued in respect of them. In the course of the next
year the property-tax must necessarily come under
the consideration of the house, and it will be for
it to say whit course it would pursue with respect
to the continuance or discontinuance of that impost."
The hon. gentleman then went on to state the reasons
which had induced him to refuse to consent to any large
reduction of taxation. He proposed, however, to effect
some reductions, and the first was to remove the distinc-
tive duty between flint and bottle glass, the former paying
a duty ~t 2d., and the ;alter of three farthings. This al-
teration is to take place on the sth July, and will only
cause a reduction of £45,000 a year. He also proposed
to repeal the duty on vinegar, which produced last year
£23.000. He wished for this reduction, because manu-
facturers would he much benefited by its repeal, and also
because it was an arti, le so generally in use by the public.
He would tiowev, r allow one year for the dealer to get rid
of the stock on hand. The next reduction was an import-
ant one—on marine assurance. "The present rate of
duty," said ttie non. gentleman, "is as follows :—For
every £lOO, where the premium does aot exceed 15s. per
cent., the duty levied amounts to Is. 3d. per cent: where
the premium exceeds 155., but does not exceed 305., the
duty is 2s. 6d. per cent.; and where it exceeds 305., the 1
ditty ameuets to ss. per cent. This presses unduly upon I
small insurances. I therefore propose to reduce the duty
end to vsry the rates according to the following scale.
For every £lOO insurance, in which the premium does not
exceed 10s., I prof ose to levy a duty of 3d. instead
of Is. 3d. ; where the premium does exceed 10s.,
but does not exceed 205., a duty of 6d. instead of
ls. 3d. ; and in some cases 2s. 6d., as at present
where the premium exceeds 20s, but does not exceed 30s.
a duty of Is. ; where it exceeds 30s. but does not exceed
40s. a duty re 25.; where it exceeds 40s. but does not
exceed 50s. a duty of 3s ; where it exceeds 50s. but does
not exceed 60s. a duty of 4s. ; and where it is above 60s.
a duty of ss. I calculate that during the course of the
present year the diminution of revenue consequent upon
this reutieth n will amount to £lOO,OOO. But I calculate
that during the c .urse of the following two years after the
change shall have been effected, there wilt be a sensible
increase iu the disposition of foreigners to come to this
country to effect their insurances, and that the country
will reap thy advantage even if no advantage should be
derived by the revenue in consequence of this reduction."
He prop sed the reduction of the duty on currants from
225. to 155., in consequence of the great consumption of
the article by the lower orders. The duty on foreign
coffee he prof osed to reduce trom Bd. to 6d., and he in-
'elided to increase the duty on chcory root, which had
been mi,:ed with coffee to a great extent. The last article
in which he intended to propose any alteration was wool,
and he proposed to take off this tax altogether. That
duty produced last year about £lOO,OOO. The total
proposed reductions would amount, in round numbers,
to £400,000. The hon. gentleman then said he was de-
sirous of piaci, g netore the public the determination of
government with respect to the article of sugar. (Hear,
hear.) He said that the treaty which enaoled Brazil
to bring slave grown sugar into this country would
expire in November next, and he intended, in mov-
ing the sugar duties, to recommend to the house,
that from and alter November next the duty upon sugar
produced in those countries which are exempt from the
taint of the slave-trade—that do not raise sugar by means
of slave labour—shall be reduced from their present
amount. By this means we shall throw open, under certain
regulations, to countries eastward of the Cape of Good
Hope, a valuable trade, and shall most especially encour-
age the growing commerce with China, with which country,
hitherto, our relations have been extremely confined.
In thus speaking of countries eastward of the Cape of
Good Hope, I must impress upon the house that I
refer only to such with which we have relations, and
wherein the sugar is not raised by means of slavery. Sir,
the differential duty which 1 shalt propose to this house to
be imposed on sugars from countries free from the tarnish
of slavery will be•lOs per cwt —that whereas British co-
lonial sugars pay a duty of 24s per cwt., the sugar from
the countries I reter to shall pay 34s per cwt. lam quite
aware it may he said that although the treaty with
Brazil is brought to a conclusion there is a treaty
with Atuerica, whivh contains a similar clause to the
other, entitles America to the rights extended by us to
the most favoured nation. Nothing can be-further from
my intention than to infringe the letter of any enactment
existing with that nr any other country, but I think that
when we take the discussion on the sugar duties I shall
be able to show that the sugar produced in the southern
states of Noah America is not calculated to be brought
into competition with the sugar, the produce of free la-
bour, I have now been speaking of. It would have been
desirable to place the reduction of the duty on colonial su-
gar on a solid and p-rtnament foundation ; but it is obvious
that till November next it willbe utterly im possible to actup-
on any principle of that description, for the doing so would
paral) seall the trade in the interior, I think that the better
course will be to admit foreign sugar at a discriminating
duty, and continue it till that period shall arrive when the
sugar duties come again under consideration. In doing
this, far be it from me to entertain any ill feeling toward
those countries whose sugar willremain excluded. I think
the reduction we have made in the coffee of those coun-
tries proves sun it 'illy that no such feeling animates the
Government. The hon. gentleman, at the close of his
luminous address, was loudly cheered ; and was congratu-
lated even by Mr. Hume, on his clear and satisfactory
statement.
The house shortly after adjourned.