Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1831-04-01

afford it protection would be encourage the growth
OF IT. and do think it could be encouraged without
affording it great protection"
As letter writer's have given different constitute
tions of the intention os the British Government OH
this subject, copy below the language used on
the occasion in the House of Commons, by the Chan
cellor of the ExcheQuer, reported in the i non
Courier. Whether penny per pound is intended
to be the whole duty, or much i'll addition To the
six per cent levied, We leave to readers to
determine.
In Committee of the Whole of the House of Com
mons Feb. II, the Chancellor of the Excheguer
said:
Tho next tax he about to propose was one to
which he anticipated objections, which objections
would however, be counterbalanced by the advanta-
ges. It would be objected he ,ected that it went
TO impose Il tax of our staple maputac-
lures and would, besides, be attended by the inco :.
veaences consequent upon drawback duty. He ad-
mittcd he repeated, that these were objections: but
besides his nnwi;lingness TO tamper with staple
commodity by imposing new tax upon it, the sum
would be small, and only intended to meet the loss
which the reduction of the duty the same article
in another form would occasion. The committee wa,t
aware. that by reducing the tax printed cottons
those consumed by The poorer classes. there would
be loss to the annual revenue Of $500 oO0 and they
were also aware that the grourI of that reduction
was, that the tax fell more particularly on the less
wealthy classes. (Hear, hear.) Now he PROPOSED
to throw the tax over all the consumers of cotton
instead OF on one part, the duty at present press
led-(Hear and thus save the revenue, and relieve
the poor consumer of the article. fIicaro This
would be accomplished by duty of Id per pound on
all rlw cottons imported, with drawba ok duty to
the same on ali manufactured cotton ex
ported lie haG admitted the objections to this
drawback duty and to tax on the raw material of
industry but put 1t to the committee whether the
vanagcs on the other hand did not more than counter
balance the objections. (Hear.) He would take the
revenue to be thus derived at E5OO 600 Judging by
the average import of for the last few years
The import the last year of all I79 200 900 lbs;
but he would take the average of the preceding
namely lI9,50O,O00 lbs which, at Id. pcr h.
would produce Gf97, O00-that Is to saw 600 600 IN
round numbers
The great question Of reform was to have been
brought forward in Parliament on tho list of March
by Lord JouN RUSSELL, with the unanimous appro
baton OF the Government. Although not n cabinet
minister he was selected for the task on account Of
his asslduous advocacy of the cause in unfavorabe
times
From the Albion Feb H.
The Chancellor of the Exchequer has openeG the
ministerial budget. Ii exhibits positive red ,ctinr
OF taxation to the amount of FL $40 OoO This re-
ducion the noble lord, Declares is but the first OF
series which the Government intend to carry into
effect, as soon they shall have had time to revise
the establishments of the state 1t is certainly sal
IN amount; but viewed the first fruit Of rerencb-
meEt, The reduction of thXes to the amount OF
100000 will give considerable qualification to the
country. Lord Althorp has commenced BY re-
moving several taxes which press almost exclusive
~, on the productive industry of the coru,rv. anf
imposing, IN their place, some new ones which will
principally affect the opulent classes We trust thai
the experiment will answer The expectations of tbs
noble lord and that its success will induce hirr, OF
some future occasion, to carry his plan still farha
IMAM ne proposes to carry IN the present year The
proposal to tax the transfers of stock has rosd the
tundholders, who loudly excaim against the scheme
as violation of the public fai h We trust, however
that the ciamours OF the moncyod interest will not
drive Lord Althorp from his purpose
ne following brief statement of the old taxes which are
TO be reduced and the new which to be imposed
To-.