Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1831-04-01

afford protection would ne to encourage the growth
of IL and do think il could be encouraged without
shording II great protection"
AS letter writer's have given different con,truc-
tons oil tho intention OF the British Government
this subject, we copy below the language used on
the occasion IN the House of Commons by Tho Chan
cellor of the Exchequer, reported in the London
Courier. Whether penny per pound is intended
to DO the whole duty, or much III addition to the
six per cent levied we leave TO our readers to
determine.
In Committee of the Whole of the House of Com
mons, Feb. II, the Chancellor Of the Exchequer
said
The next tax he was about to propose was one to
which he anticipated objections, which objections
would however, be counterbalaDced by the ANITA
gcs. II would be objected, he ccted that il went
10 impose new tax on one of our staple manuac-
lures, and woIld besides, be attended by the incoa
vcaiences consequent upon drawback duty. lie ad-
mittcd, he repeated that these were objections but
besides his unwi.ingnrss 10 tampcr with a staple
commodity by imposing a new tax upon it, the sum
would be small, aud only intended to meet the loss
which the reduction Of the duty the same article
in another form would occasion. The committee was
aware, that by reducing the tax printed cottons,
those consumed by the poorer classes, there would
be loss to the annual revenue of $500 0CO and they
were also aware that the ground OF that reduction
was, that the tax fell more particularly on the less
wealthy classes. Hear hSar.) Now he proposed
to throw the tax over all the of cotton.
instead OF on one part,as the duty at present press
ed-(IIear and thus save the revenue and relieve
the poor consumer of the article. (IIear.) This
would be accomplished by duty Of Id per pound on
al raw cottons imported, with a drawback duty to
the same amount on all manufactured cotton eX
ported. He had admitted the objections to this
drawback duty, and TO tax the raw material OF
industry, but put 1t to the committee whether the ad
vantages on the other hand did than counter
balance the objections (iear.) He would take the
revenue to be thus derived at E5O0. 600 Judging hy
the average import of for the last few years
he import the last year of all I79 900 900 lbs;
but he would take the average Of the preceding years
namely, ll9,5Oo,O0O lbs. which, at Id per ID.
would produce Ei97, oOO-tha, is to say $500 900 IN
round numbers"
The great question Of reform was to have been
brought forward IN Parliament On the LIST of March
oy Lord joins RUSSELL. with the unanimous appro-
baton OF the Government. Although not 4 cabinet
minister he selected for the task on accouu, of
his assiduous advocacy of the cause in uniayorabe
times
From the Albion Feb. H.
The Chancellor of the EXchcuuer has opepcI ,I,,
Ministerial budget. II exhibits positive reduction
OF TAXATION to the amount of FL $40 OOO This re
ducton the noble lord, Declares is but the first of
series which the Government intend 10 carry into
effect, as they shall have had time To revise
the establishments of the state II is certainly small
IN amount; but viewed the first fruit of reirench-
merit the reduction OF taxes 10 the amour, Of
Il '3ioooo VIII give considerable qualification to the
country. Lord Althorp has commenced by re-
moving several taxes which press, almost exclusive
iy, on the productive industry OF the corurrv and
imposing, III their place. some new ones which will
principally affect the opulent classes We trus, tina,
the experiment will answer the expectations oFthe
noble lord and that its success will induce him. on
some future occasion, to carry his plan still farther
than he proposes 10 It m the present wear The
proposal 20 axthe transfers of stock has rousrd the
'uhdhoiderS, who loudly exclalm against the scheme
as violation of the public f4i We trust however
that the clamours Of the moneycd interest will not
drive Lord Althnrp from his purpose
ne following is brief OF old taxes which are
70 De reduced aud the new which imposed
Taxes '"fluc"h Esurna,ed Io.s