The Statesman.
London, England, 1823-07-03 00:00:00

THE STATESMAN

._ : ,

TfiS AfTDOET;

-The Chancellot'of; the •Irxeh;qnet naitli.what is called
'a triumphant display °lbis financial measures, and the
national resources. The revenue,according to him, is en.
creasing; arid' the taxation bas been decreased by some
millions. This sounds well and the first part oL his
statement is doubtless correct. The revenue is encreas-
ed. The fall in the-price of produce has placed the con-1
sumption within the reach of a greater number of indi-
viduals ; and, as the taxation has not been reduced is an
equal degree, the revenue keeps improving. This is
easily understood! lint to the cxond declaration of the
Chancellor, that the taxation has been reduced, we beg
to enter a decittid negative. Taxation, in the proper
sense of the word, as it affects the country at large, has
not been reduced. An alteration has been made in the

figures ; and the collection has shifted its ground ; but'
after all, as taxation resolves itself finally into the
amount of the produce of the land, which is demanded
for the support of .the Government, the taxation has been
actually encreased to a considerable amount, since the
conclusion of the War, notwithstanding the nominal re•
duction ; for the sum now collected, as the revenue, will
purcbase considerably more of the produce of the labour
and the soil of the conntry,tban the Aighest amount of the
war•taxation could command. It is in this point, that
an equitable adjustment is required:—an adjustment of
all the salaries, paid by the public, to the difference pro-
duced by the alteration of circumstances. It would then
be discovered that a reduction of ten or twelve millions,
commencing five or six years ago, instead of a reduc-
tion of somewhere about five millions at the end of as
many years, would have been mere like what the nation
had a right to expect. As the matter stands, taxation
has only taken other grounds. It remains as burden-
some as ever, to the whole; for though some portions
of society are relieved from an actual payment, they are
injuredin a far greater degree by its greater pressure
upon other classes. Ask the country shopkeeper what
benefit he has derived from the reduction of taxation.—
He will tell von that he is very glad that his taxes are
reduced ; but that lie is far more sorry that his trade has
decreased. The agriculturists, upon *hose shoulders the
taxation has rested of late, are no longer able to sustain
their former rank in the scale of consumption; and
while the State continues its enormous demands upon the
produce of the land, the revenue may Increase, but it will
increase at the expence of the resources of the country ;
for it must continue to impoverish all classes, during a
state orpeace ; and, should a war ensue, in what- condi-
tion shall we stand to meet it? To Ministers who are
satisfied, while the taxes are paid, and their salaries
secured, these enquiries mayappear unnecessary; but to the
public, who are interested in the security of the nation.
as well as in the prosperity of the revenue, they are all
important. We are aware, that there is much apathy in
the public mind upon this subject. Things begin to look
better.—The,Chancellor talks about his reductions:—
It is not the interest of any party to expose the delusion
in the House of Commons ; and in the usual phrase,
things are left to take their course, and affairs to find
their own level. This may do for fine weather reasoning,
but when it is found that matters are gone too far for
remedy, it may be wished that a little more attention had
been paid, while the evil could have been prevented.
The charges against the Irish Chief Baron O'Grady
were proceeded in last night, after some slight attempt to
stifle the proceedings on the part of some indiscreet
friends of that Judge. His real advocates knew how to
manage better. They will let the enquiry proceed, as
the enquiry into the conduct of the Dublin High Sheriff
proceeded—confident that it can end in nothing prejudi-
cial to his interests. It 'is the duty of the regiment to
hold together; though they may occasionally find it ne-
cessary to shake their heads at an incautious brother.

STOCK thiIIANGE, TIVELVZ O'CLOCK.—OOO9OII opened
this morning at 82i, and went up to 82;1.—The people here
seem disappointed with the Budget, as they expected the
three millions from Austria to have been brought forward.
it now appears, however, that Austria cannot come forward
with the amount, unless it be raised in this country, and that
would be rather difficult until she has paid her former debt.
Private letters from Seville contradict the French accounts,
and state that the whole of the Cortes, with their property,
had left that town, previous to 1,4 e approach of the French,
and had entered Cadiz. Up to this hour we do not believe
that any express has arrived from Paris, which is a presump-
tion that they have no news of importance to send, nor any
material fluctuation in their funds.

FOREIGN MARKET.—The above market is rather steady.
Spanish Bonds opened at 32-311. liu Columbia there is not
much doing.

New Spanish, 3111—New Prussia, 833 ex-dividend—
Russia, 81;{—Danish, 87 ex-dividend—Columbian, Mi.
ONE o'CLocu.—A report prevails of an Express having
arrived from Paris, bringing the French Funds, at
88f. SOc.

Frankfort paper., which have arrived this morning,
have brought an official contradiction, on the part of the
City and Republic of Berne, in its quality of presiding
Canton. of the reports which announced that the ludo.
pendence of Switzerland would be threatened. It
is declared that on this point, as well as that of
pretended marches of troops, there is nothing that
can authorise just uneasiness. Accounts from Symrna.
dated May 16, represent the Isle of Samos as presenting
the same appearance as, Ipsara ; men and women being
all animated with the same enthusiasm, and resolved to
defend themselves to the utmost. From Constantinople
we have intelligence; by way of Augsburg, of the 25th of
-May, that Tartars have brought from Erzernm the news
that_the &bah of Persia had resolved to send an Ambas-
sador to Enema; to negotiate with the Porte, and that
this Ambassador had already arrived, so that it is pos-
sible peace maybe already concluded. There is no news
from the Moira--only, as the, fleet has not quitted the
paraanelles,,and will remain there till after the Beiram,
which ends du the 9th of June, it is evident that all the
atcotutts of recent aaralactions are entirely fabulous.

'rf~•

"Letters from Gibraltar of the 13th aft. tate,. that a
French squadron of two sail of the line, two frigates, and
a sloop of war are cruizing in the Bay. A ereat failure
has 'taken place in the above town, said to be a Spanish
House.