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

£4,800 per annum; on manufactured iron, to £24,000;

on some other articles, to £9,000; on glass and earthen-

/00: making

ware, to £B,OOO ; and on provisions, to £6,2,
altogether £Bl,OOO, which, added to the duties on mi-
nor articles, makes a total of £lOO,OOO a year of esti-
mated loss to the revenue from this source.

To countervail the advantages possessed by railway
companies, it is proposed to decrease the mileage paid
by proprietors of stage coaches to a uniform rate of
&d. per mile, to take off entirely the assessed taxes
upon guards and coachmen, and to reduce the present
licence duty of 6 guineas to 3 guineas. It is proposed
also to take away the duty imposed upon the letting of
job carriages. By these reductions the loss to the re-
venue is estimated at £70,000 a year.

In connection with the equalisation of the 'stamp
duties in Ireland, previously mentioned, it is contem-
plated at
.the same time to make some reduction upon
those leVied upon some articles in Great Britain. In
partiCular, the duties upon policies of insurance are to
be modified; the duty of 355. upon charter parties to
be reduced to 55., and the stamp of 3s. upon a bill of
lading to Gd.' The effect of these reductions, however,
upon the'revenue, is included in the statement, given
above, of the effect of the proposed equalization in
Ireland.

The financial arrangement of Sir Robert Peel as a

whole may he thus summed up

Estimated deficiency on present income for the

year ending sth April, 1843

£2,570,000

Reduction on various articles of tariff, as ray

terials used in manufacturing, &c

Loss on coffee

170,000

Loss on timber

600,000

Repeal of export duties
Repeal of duties on stage-coaches, &c

100,000

23,780,000

Amount of new taxes, as detailed above

4,310,000

Surplus

£530,000

to meet increased estimates for India, increased charge
for China, and remission of duties on account of corn-

mercial treaties

FEELING ON 'CHANGE WITH RESPECT TO SIR
ROBERT PEEL'S FINANCIAL PROJECT.
•

We do not remember any public measure of a financial
nature, the first announcement of which created one-tenth
of the sensation with which that of Sir Robert Peel's finan-
cial project, delivered on Friday in the House of Commons,
was received in this town on the morning of Saturday.
Gratification and surprise were in every face we met ; the
words, " A property tax," " An income tax," " Revision of
the tariff," were upon every tongue ; but the most prevalent
feeling, we feel bound to say, was amazement at the courage
of the minister who had bad the boldness to come forward,
uncalled upon by any dictation or even suggestion out of
doors, •and propose to parliament so gigantic an innovation.
Independent of the merits of the plan, in detail, such were
the feelings with whidh it was viewed by our commercial
community ; whilst, with respect to the manner in which it
had been propounded by the right bon. baronet, there was
but one feeling in the minds of men of all parties—that of
UNMINGLED ADMIRATION.

We cannot report that a more mature consideration of the
subject in all its bearings has materially changed public feel-

ing in our community as to the merits of the measure

admitted by all intelligent men,. that the resort to a tax upon
property and income had become, in the existing state of
r at the least one which

things, a step of urgent ne
it was desirable to resort to ; and the ministerial proposition
is accepted with very general cheerfulness, in particular, by
those classes whom it most affects. In some quarters there is
a little grumbling at being called upon thus to pay the penalty
of Whig mismanagement of the public affairs; some little
dislike, too, is expressed by politicians of a certain grade
towards the alleged inquisitorial nature of an income tax.
Such whispered cavillings, however, can scarcely be said to
weigh to any extent against the general approbation with
which the relief from a state of financial difficulty, and the
power thus afforded to government to loosen the strings of
commerce and industry, are viewed by the generality of
our commercial men.

With regard to the details of the reductions in our tariff,
we have not as yet had an opportunity of noticing the opinion
entertained, as these only arrived amongst us at the close of
'Change hours yesterday. So fur, however, as they were
pointed to in the statement of Sir Robert Peel, with one
exception, noticed elsewhere, the changes made are looked
upon with great favour.