The Statesman.
London, England, 1820-05-12 00:00:00

rotes, as Hwy-Wild be liable to be called upon to pay
in gold. or in late.; at 3/. 173. which was the
same thing ; the consequence would be, 'hat the pub-
lic corstitor *wild remain unpaid. A system likely to
produce such aosoio was notur:ously a had one. It
Vila the duty of Parliateent to take care that this irP-
rl.ri did no: anise. He was sure that the Bank bi-
rectors wentd nor do this, unless from : hut
was the duty of the Howse to prevent their /wing
;I.teed in a ,ituati,,n tr:sucit ditlieulte. -re would ova
d. t Ain the House touch longer. lir had cleseic jilt oti
the danger of making u 1 by loans from the
eta l:lens:oat of the revenue. They must firwl)patiret
tae daug ri which surruutided them. Ihe remedy ass
nat to he by taxing the lower orders, nor. de-
praiag :hem of labour by taxing the raw tonitui,ll.
f a holy 'enmity, in his slew of the queetioa, was, a.
t upon I.ropery. If a tax of less milliottatil;1140111
oh it alt ropetti, and the Asiessed Taxei were givirf
up. it would be a boon to the people which wouttt, ;IA
mare ta Nam their minds and make them rally resold
the Caratilution than any oSer measur- which erhtl,l-
- hear '.)—tr ever there was a time
ehen property could be taxed with propriety it Wall
thi-. Were not the Cern Lass a real tax on the leu•
pie '1 his couill be sites nif the Corn Bill wan; re-
• unwed. Tio• difference between the prier uetaally
gad., for turn iti :hi• country and that fer which it
(wild laii.urit 1, ere it 'sot for the two Hilt, seas
fa do en the p. tai l•. sup..,a;ag this differeare to he
if.. pee, 'coml., and supp sing the quantity acorn
"tawcwaried casually to be fifteen nillion quarters, then
there was a tic on the people of fifteen millions an-
atattaily. ping, tact to the revenue, but to the lauded
liroprietor. This was a fact which nu arm could eon-
Indict. The landed proprietors were better able to
pay taxes than the lower classes of society, and there.;
fare, if ilea taxes must he imposed, and they must be
i!n;.tosell. unless the puldie credit was to be abandoned,
width he supposed the Howe *mild Hot readily con.
seat t.), they tuust fall upon property. Ile rLd out
rein an income tax nor a tax upon any proil,,ion or
trade— matt detested -melt a lilt more than he did,
L. !avail; a tax a nn landed property—(Hear, Lear!)
—He Ifi.l before said that the lower classes were uu-
a‘.le to hear any additional taxation ; he hnew also
that the middling 'lasses of seviety %erre in a similar
Hefure, however. any sorb tax was plt-
paled, I e would recommend the must rigid economy iu
.a very laattch of the public c' penditure. The !Sight
Hon. tientleman, when he last year apoka of placing
thett,ati•-ial system on a permanent footing, gave a
hole that entroiderahle saving wool.' be nude in howl-
ties anti deasrha:-ka, and in the collection of the rev,-
fut. It appearede however. Crain at counts on the table,
rkat thaw wag a 51111 of 10,1Iotaliti0/. expended under
those head*. tins great poiitical economist, Athon
Fo.ith, had laid it down, that the great source of wealth
was the employment of the labourer by the capitalist,
4Z die soil and in manufacture.: it ssas by the pru-
dnetive power of personsao ;imbed, that provision was
.axle for the unproductive classes of society. He
I•eggeti !median for having detained the Nona- at such,
lentil; he avid.' conclude by moving—•• That there
be laid before the !tome an Account of the Outstand-
ing Exchesiter and Irish Treasury Bills, with the In-
terest due thereon, separating tit- Principal fr an the
Istereshaatpccify*.ng the several Arts under v.hieh they
sure issued, anJ the ittferent services to which they
*ere applied."
The CHANCELLOR of the EXCHEQUER ad-
dressed the House, bat in so low a tone as to he for
some time inaudible In the rallery. We at length un-
dertood the Hight Hou. t4entleman to say, that he
could mare diarharge his duty to the country, than by
prematurely entering into an explanation of his finan-
cial arraagements. He Ma! aware that much anxiety
existed in the public mind to knaw what those arrange-
ments were, het na feeling of that kiwi should induce
him to deviate from what he conceived to be his duty.
ifs most, therefore, pass by all which had to.en said hi
the Hoe. Member on that bead. The Hon. Member, ill
refer-rine to the new taxes, ha'l taken it for granted
that they had failed. On this head he had only to re-
fer to accounts which had been laid on the table. We
understood the !tight Hon. Dentlatoan to state, that
in the hat three Inartert; of the year, the increase in
the Customs and Facia:. teas 1.921.000/., being only
10i1,000/. abort of the estimate on the whole year.
There was al*.• a difference in Malt Duty of 454,11041/.
so that tha increase fell but little short of the whole
eatimated revenue of the new t .set. It litiOit be toltal
how it happened, tlatt notwithstanding this increase,
there was a deficiencv on the whole revenue? To this
be would answer, that there was a deficiency in the
OttobAr quarter of last year, arising from a deficiency
of trade and othor causea, teethe amount of 1,0110,10 a
His however. hail mat satisfaction in stating, that
this a-ear he entertained 14 strung confidence that the
CalatatalLig 11i.,,Lt___mise would produce the calculated

amon nr, cueing' ti;irtTrr Ite—lreirtniTtiot, which- rosiosad
little o: mithintr. The Hob. Member had complained
of the non-payrrvnt of interest of Exchequer Bills.
The lion. Member must know, that the interest on
Eitheqler Hills was paid with the principal, and that
it Was allowed to aurae up to tie period of such pay-
ment. It was true there was an arrear respecting
titese Ellis, bat. he would, when the proper period ar-
explain that to the satisfaction of the House;
but the interest bad been paid upon all the Exchequer
Bills paid off of exchang?d.
Mr. J. SMITH expressed his disapprobation of the
'Meta of 6aanee lately adopted by the flight lion.
Gentleman. It had fatten within his knowledge, that
considerable sums had 'been withdrawn, vested in
foreign fonntrirs, in consequence of the alarm felt
from the insecurity of our present system. There was
;labial score necessary (ban the establishment of a
permanent, solid system of Mum., : as long as our
present system was rrserered in, so long would sur-
mises. dovbti, aid alarms exist in the public mind. If
it stoonld be tband necessary to impose any new tax,
be hoped it wriwid be levied on -Aim who were beet
able to ply it. He c.nittl not help saying, tkat writ
doubt and alarm had existed during the two last years
respecting our financial system than at any former pe-
riod, and this feeling was a considerable injury and
iajnetice to the few& of the ronntry.
Mr. BAIRINII mat rose, but from the low tone in
which he spoke, as well as from the Noise of cringers
ix the gallery, we were for some time unable to col-
-1,3 the import of Dia obserraiiJns. We at length