The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-03-29 00:00:00

tltion c

The directors of 9v

Bank of England, in particular, are strongly urgi►ig govern-
!nent to make a distinction between permanent and terminable
mnuities, favourable to the latter. The Times has takvii up
the cause of these annuitants with con,iderable vehemence ;

d no doubt there is

are of the endless

ape plausibi;ity in the views u

to distinguish between {Efferent
call forth, has set his face against
nin this respect. The fact is, the
maiditications urged upon him are impracticable, even were
they. just and expedient in, principle. Partial interests, and
individual feeling may exclaim against the tax ; but, as it is
impossible to deny the necessity for it, Sir Robert Peel will
depend upon the common sense and sound judgment of the
country protecting him against the clamour of faction and
terest

Iteration of his p 1

There is one circumstance which deserVes to be remarked
,n regard to the nature and extent of the opposition Sir Robt.
Peel has experienced. The classes on which the tax will
chiefly fall are those on whom the newspapers mainly rely for
their circulation and their advertisements. I don't mean to
say that the Times, Herald, or even the Morning Chronicle,
and Globe, are moved greatly by this consideration, but it is
obvious that the fact to which I refer gives the objectors to
the tax a mighty advantage in making themselves heard, and,
accordingly, the columns of these journals are crammed with
the most paltry, shabby, and niggardly complaints against
the proposed tax, while, of course, nobody thinks of defend-
ing it, as nobody has an interest in contributing to the re-
venue, for the mere patriotism of the thing. Depend upon
it, however, that the public feeling is not so generally or so
strongly opposed to the tax as the tone of the journals just
named might induce many to suppose. You willsee that, in
a day or two, the Times, Herald, and some other respectable
. .
-t just now to let the malcontents
ve their swing, will come round and support the premier's

papers, who deem 1

plan.
The new tariff has given almost unmixed satisfaction : the
mercantile classes generally consider the three per cent. on
income a very, cheap sacrifice for so great a boon. Yet it
seems in other circles to be utterly forgotten that the advan-
tages proposed under this head would necessarily fall to the
ground if the income tax were to be given up. This is just
another proof of the too prevalent morality that it is all fair
to cheat the revenue, a maxim upon which the opposition to
the new tax is based in a great many quarters. The machi-
nery to be called into operation by the new tax was explained
by Sir Robert on Friday evening, and though it is impossible
to strip it entirely of its obnoxious character, the plan seems
as little oppressive, and as effective, as possible.
Whatever may be the feeling out of doors, there is little
doubt as to the fate of the measure in parliament. If the
opinion of the.country was clearly against it, no doubt mem-
' bers would yield greatly to the pressure from without; but
according to present appearances, the opposition is partial
and in no respect national. Sir Robert Peel will therefore be
supported by a majority in the House of Commons beyond
all doubt—the more strenuously that Lord John Russell and
his supporters have made the income tax a party question,
and put the issue between the sham budget of the whigs and
the financial plans of Sir Robert Peel. There ik no rational
doubt, therefore, that the scheme in its main features will be
carried through both houses in due time. It is possible that
an alteration may be introduced so far favourable to profs s,
sional and other incomes not derived from property and
capital, in the form of a deduction, as a saving or reserved
fund' for casualties. I know such a proposition has been
talked of and favourably .regarded in influential quarters.
But the point is one of great practical difficulty. _