The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1846-06-02 00:00:00

at we were depend

.t upon fo-

e means even of

s was evident from a mere glance
es. What would become of our

wring population if we were to exclude the co

me mi

ght be said of wool end other

articles ; and it was absurd, therefore, to raise the ques-
tion in respect to food exclusively, when it was, in fact,
equally applicable to the means of purchasicg it. The
noble earl also adverted to the averages, which he said
gave a fictitious idea of price owing to the difference of
quali

as was evident from a comparison between the
)rice given by them and that at which you could really
my the best wheat in the market. In fact, the contract

price at the Victualling-office, this year, was, for the best
red wheat £3 lls.. although the price given by the ave
rages was only £2 10s He concludd a lengthened
speech by a defence of the course pursued by the Govern-
ment, every member of which regretted that the attempt
of Lord John Russell to form an administration to carry
the measure had proved a failure. They would, however,
have been traitors to their Sovereign and to their own
convictions if they hesitated after that failure to act pre-
cisely as they had done, and although they might be
doomed to bow before the indignation of their party, they
could at least stand erect before a higher tribunal.
The Duke of BEAUFORT next addressed the house in
opposition to the bill, but owing to the noise in the body
of the house he was but indistinctly heard in the gallery.
The Duke of -WELLINGTON said it was painful to him
to have to force this measure upon the consideration of
the house, in opposition to the feelings of those with whom
he had been so long, and with such satisfaction to himself,
united in ties of friendship. The course be had taken,
however, he would be ready to take again to-morrow, if
called upon by what he conceived to be his duty to the
Crown. His own conscience was satisfied, and he could
only regret it if others did not take the same view he did
of his duty to his most gracious Sovereign.
The house then divided, and the numbers were—
For the second reading—
Present .

Proxies

Total ,
For the amendment,
Present

Proxies

- 161

Majority for the second reading......

HOUSE OF COMMONS.-FRIDAY.

Sir R. PEEL stated, that on Friday after the recess he
wculd move that the house proceed with the estimates in
committee of supply. On the following Monday he would
move the second reading of the Protection of Life (Ire-
land) Bill ; and if that should be disposed of by Friday,
the 12th of June, be should then move the sugar duties.
Mr. J. O'CONNELL said that he would move an amend-
ment to the Protection of Life (Ireland) Bill on every
evening when the order of the day for its consideration
should be moved.

Mr. Hum E was surprised the right bon. baronet should
suffer this bill to interfere with the important business of
the country. He ought to postpone the measure until
the matters more immediately pressing should have been
disposed of.
The CHANCELLOR of the EXCHEQUER then brought
forward his financial statement for the ensuing year in a
committee of ways and means, the chief points of which
were to the following purport. Last year an income of
£49,760,000 had been anticipated, but the amount realised
was over £52,250,000, independent of the money from
China, a strong proof of the beneficial policy of reducing
protective duties. The only great source of income which
had declined was that of the property and income tax,
but even this declension was to be attributed to repay-
ments made to parties who were entitled to such returns
of money previously paid into the Exchequer. He might
take the receipts of the ensuing year at £52,090,000, and
the expenditure at £49,400,000 in round numbers, leav-
ing a surplus of over £2,350.000. The Customs produced
last year £19,760,000. A reduction of duties had, how-
ever, taken place to the extent of £1,041,000. This re-
duction, however, he hoped would be counterbalanced by
the increased consumption which might not unreasonably
be expected. If, therefore, they took the loss at two-
fifths of the whole sum repealed, the amount would
be about £400,000. leaving the amount to be antici-
pated from the Customs at £19,300,000. He thought,
however, that the trade of the country was in such
a progressive state of improvement, that they might
calculate upon an increase which would leave the
sum to be really anticipated from the customs, after these
reductions, at £19,500,000. In the excise there bad been
also large reductions last year, leading to a certain amount
of loss, but although some duties had been altogether re-
pealed, the duties fell only £lOO,OOO below what they had
been in the previous year. He anticipated from the stamp
duties about £7,400,000, being about £260,000 less than
last year, the deduction being estimated to accrue owing
to less transactions in railways. The assessed and land
taxes he would take at £4,230,000, and the property tax
at the same amount as last year, £5,100,000. In the post-
office department there had been a large increase of reve-
nue, but he would take it at 1850.000 for the ensuing year,
being an increase of only £60,000. Including the revenue
from the crown lands the total receipts would be
£50,955,000, to which might be added a further sum of
over £700,000 from Chinn- The total result would be
that the estimated income of the country for the ensuing
year would be, in round numbers, £51,650,000, while the
expenditure would be only £49,400,000, leaving a dis-
posable surplus of nearly £2,200,000—a surplus nearly
equal to that of last year, notwithstanding all the reduc-
tions in both customs and excise which had been carried
out. There were, however, certain additions to the esta-
blishments of the country, and more particularly in the
naval department and the armament of our shipping, which
would appropriate a considerable portion of this sur-
plus. The charge for the debt last year was £28,200,000 ;
this year it was only £28,100,000; but this advan.
tage was counterbalanced by the increased charges
on the Consolidated Fund, arising from the advances
requisite to be made for the promotion of public works
in Ireland. There was an increase in the estimates for
the navy as compared with those of last year of between
five and six hundred thousand pounds. In the ordnance
estimates there was an increase of about £400,000, which,
with the additional charges in the miscellaneous estimates,
would make a total charge of about £20,198,000. This
added to the charge for the public debt, &c., would give
a total expenditure of over £50,760,000. The result would
be, that there would be a surplus of only £776,000., of
which £700,000 was derived from China. The right hon.
gentleman then proceeded to show the advantages derived
by the country from the policy pursued by the present
government, which bad not only placed the finances of
the country upon a firm and substantial basis, but which
had, while reducing customs and excise duties, in every
direction, actually reduced the expenditure by one million
and a half! In 1842, when they entered office, the charge
on the consolidated fund for the interest of the debt, &c.,
was £29,567,000, while for this year it would not exceed
the sum of £28,129,000, a difference of no less than
£1,436,000. It was true that in the shape of property tax,
&c., the government bad imposed burdens to the extent
of £5,600,000; but, on the other hand. they had reduced
customs and excise duties to the extent of over £8,200,000,
which left a balance of reduced taxation to the amount of
over £2,500,000, and all these results, from which the
country had derived such essential benefits, had been
brought about without the slightest derangement of any
of the great interests of the country. The right bon.
gentleman concluded by moving the usual resolutions.
A. desultory conversation ensued, in the course of which
Mr. F. Baring, Mr. Hume, Lord G. Bentinck, Mr. Card-
well, Mr. C. Wood, &c., gave their opinions of the finan-
cial statement of the Chancellor of the Exchequer, after
which the resolutions were agreed to.