The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-03-15 00:00:00

These facts proved that the country had arrived at the limits
of taxation on artiv! ',rot n. All thesc-resour-
then, being to 'ie old taxes

of consumppo
set 'aside, shuukl

:ket ex-

he go back to the postoffice? At present new i
pences being added, the postoffice produced no revenue
all, but rather occasionod a charge; but he did not think the

recent redui

increase upon postage. Should he revive tl

taxes upon

salt, upon I
abolition var

Upon the faith of their

particularly, had been applied to a variety of new purposes.
Should he resort to locomotion for the purpose of taxation ?
He was reluctant to tax the means of transferring from place
to place the labour of those whose labour was their.only
capital. Gaslight would fall within the same analogy, and
ought to retain the same protection. After ridiculiog the
various suggestions of people who were constantly sending
him-projects for taxes on pianofortes or umbrellas, accom-
panied with claims of very large per centages upon the pro-
ceeds, he came to the question, raised by the late govern-
ment, how far it might be possible to obtain increased
revenue from diminished taxation ; a resource which the
fullest consideration had satisfied himwas wholly inadequate
to the immediate emergency. That a nation's revenue was
eventually increased by diminished
true ; but the first effect was alwa:
and a long interval was found necessary to • restore the
amount. This principle was illustrated by what had happen-
ed with respect to wine, tobacco, coffee, hemp, rum; sugar,
and other articles. A mere reduction of duffe4; 'therefore,
would not suffice to meet the'preserit exigencies; and he would
now state what was the measure which,-under a deep con-
viction of its necessity, he was prepared to propose, and which
he was persuaded would benefit the country,' not only in her
pecuniary, interests, but in her security and her character..
The right hon..bart. then proceeded as follows :=Sir, will
now state what is the measure which I propose for the consi-
deration of the house ; which I propose under the sense of
public duty ; nay, with the' deep conviction that it is neces-
sary for the public interest, but with .an equal conviction that
the present sacrifices which I call for to be made will be
amply compensated ultimately in a pecuniary point of view,,
but which will be more than compensated for the effect:it
will have in maintaining the public credit and the ancient
character of this country. (Cheers.) And it is my duty to
propose that, instead of looking for taxation upon articles of
consumption, instead of reviving taxes upon_ sal*

fall of that revenue,

and sugar,

it is my duty to make an earnest appeal to the possessors of
property—(enthusiastic cheers from the opposition)—for the
purpose of repairing this mighty evil. (Continued cheering.)
I propose, for a time to be limited—and I make the propo-
sition—as I said before, I never had occasion to make a pro-
position with a more powerful conviction that it is one which
the public interest of this country requires—(hear. hear)—l
propose that, for a time to be limited, the income of this
country shall he called upon to contribute a certain sum for
the purpose of remedying this mighty and glowing evil.
(Cheers.) I poposo that the income of this country should
bear a charge not exceeding sevenpence in the pound—
(cheers)—not amounting to three per cent.; but to £2 18i 4d,
for the puttose, not only 'of supplying the deficiency in the
revenue, but of 'enabling die, with confidence' and satisfaction,
to propose great commercial reforms—(loud and general
cheering)—which will, I think, make up for the sacrifice—
which will afford the hope of reviving commerce—(renewed
cheers

I,tha; improvement in Manufactures which will
adon re-act upon every other interest hi the country, which,
as I said before, in a narrow pecuniary point of view, will,
by the diminished, price, of the• articles of consumption, and
the cost of living, be a compensation almost to every one for
the pecuniary charge, and which, by relieving you of the con-
templation of those mighty public evils, will more than corn.
pensate the possessors property for the sacrifice. Alrn-
mense cheering.) Sir, there have been former taxes upon
In the year 1798, when the prospects of this
country were most gloomy,. the minister of the day had the
courage to propose, and the people had the fortitude to bear,
an income tax amounting to 10 per cent. In the year 1803
that income tax was discontinued ; but after the rupture of
the peace of Amiens, a duty of 5 per cent. was put upon
property. In 1805 that duty was raised to 64 per cent,, and

. . _ .
in the year 1806 it was raised to 10 per cent. Now, l•pro-
pose that the duty to be imposed upon income should not
exceed three per cent. ; that it should, in point of fact, and
speaking with perfect accuracy, be limited to 7d. in the
pound, or £2 188. 4d. per cent. Formerly, when the income
tax of ten per cent. was levied, only incomes of £6O a
year were exempt, and all incomes between £6O and £lOO a
year were subject to a reduced rate of duty. I shall propose
that from this income tax all incomes under £l5O shall be
exempt -nect to that

.. -- Under thefonner income tax, in rest,,,_
Portion of the charge which was derived from the occupying
tenant, the tenant the occupation of land, it was estimated
at three-fourths
that estimate the rent. It was admitted, I believe, that
at three-fo - was too high ; that estimating the rate of profits
. rtlis of the rent was an unreasonable estimate. I
propose, therefore, that'in respebt -to theoceupying' tenant,
the occupation of
land hall be estimated at one-half iiitead
of three-fourths. 'Phisplated in the year 1816, iswhen the reduction that was contem-
plated Lord Bexley proposed the re-
nears' of the tax. I haveevery reason to believe that one-
half would be a fairestinate.
ir I. believe Lord Bexley in-
tended to carry it further for' ayery short period. I propose'
to reduce it - from three-fourths
one-half ; and I believe
the reduction to be perfectly justifiable,
rents having increased
in reference to the value of land inl at ratio which will make
the difference. (Hear, hear.) se—and I see no
ground for exception—that all funfdoerdePipgr°rnoPei).°erty, whether held
s, shall be subject
by natives of this country or by
nature to the charge to which l-propose to subject
Other
of the proposal sources of
_,,,16, (Hear.) Sir, that is the
a
-, Tay intention, with the full stud unanimous
with
eon-
_...gues—(ioud clieers)—
atl
est conviction on their part that the measure is vvtlliseanthell,e"-
xe to the house. ' (Cheers.) These are ; no-
,of the proposition I intend to submit. Of Bourse
the
~. w4ll call on me for some estimate, the best can
as to the probable produce of this measure. 1 am
sure that every gentleman knows how impossible it is td
frame any definite estimate,. Or to draw aily certain conclu-
sion on a subject of this nature ; but I will give the house
the best estimate I can frame, and state, as clearly as I am
able, the grounds on which I frame it. '(1-lear, hear.) In
the year 1814, which is the last year to which we have res-
pect, the income in Great Britain assessed to the propertyh
tax was about £173,000,000. The property on- that
income was assessed was comprised in five different divisions
or schedules. The schedule which was entitled by the letter
A contained the property derived from land. It was divided
into three classes—namely, the rent Of land, the rent o
ho uses, r,nci the rent derived from
canals - 'liar property

my col

curren

to ma

main peintst
the ho
frarm

tithes, mines, quail

id other sit
of the rent of land a

The p.ro pe,,,r,t,y in resrect

,peaking of the year 1814. The rent oi
and the profits derived froth tithes, mines, quarru.
£41,470,000 ; being a total of property derived from la
£60,130,000. Schedule B contained the rent of lauds in res-
pect to occupation by the occupyin..l tenants. The amount
of income on which the rate was assessed was £38,296.000
Schedule C contained the income derived from public
funds
and sithilar securities. -The,ainount was X 30,000,000. Sche-
dule D contained the profits of trades and professions. The
amount was- 1:38,310000. Schedule-E; the income of,public
amounting to £11,744,000. I take schedule A first:
before, the assessment
•.1)on the rent of land was
Now, I cannot doubt that the return of peace
sation of war prices Must have had a consider-
the rent of land. It may be :said,
4axe into account whatever effect was produced
upon the rental of laud by the restoration of peace; and .1
have no doubt that for a considerable period the rental of

officers
As, I as
£39,400,11M
and the

able effect in reducing