The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-04-17

Estimated de efficiency on presen mt income for
the year ending 9Th April, 1913. ......... f2,570,0oO
Reduction on various articles Of tarlf, as
raw materials used in manufacturing, &c. go 600
Loss on coffee. 10000
Loss on timber. :. 60O,O 900
Repeal of export duties. .......... ...... 100. geo
Rope of duties on stage coaches, &c.,. 20 900
ss,7sO 900
Amount OF new taxes, as detailed aboye... 100000
Surplus. ............... f53O,OOO
To meet increased, estimates for India, Increased
charge Tor China, and remission OF duties on account
of commercial treaties.
Sin RoBsRr PEEL's CoRH IMPORTATION BILL Ia
the House Of Common, March 9th, the second
reading OF this bill took place. Sir Il Peel said that
the fixed duty of the noble lord John Russell would
not be a measure Of justice to the aericulturalists,
nor would 1t give them the extent of protection
v hich he avowed himself ready TO concede. He
denied tina he had ever said that he did not expect
that this measure would give no relief to commercial
manufacturing distress what he had said was, that
he could not hold ont a hope that it would lead to
any material or immediate mitigation of the suffer-
lngs OF the people He was OF the same opinion
still, and considered if he held out great expectations
of great and immediate relief from the change he
proposed, that he should be practising a delusioD, for
he did not think the distress was the result of the ex-
listing corn law, and he would not, therefore, be at
once relieved by its alteration. He had felt it is
duty to frame a measure which would lead to a prac-
teal result, and his success in so doing it was which
had led to the dulness Of their debates, for had his
measure been otherwise than practical they would
have had much more vugor in their announcements
of his plan. The right hon. baronet then appealed
to the house TO say, what would be the consequence
OF rejecting his measure! The noble lord could not
carry his measure, nor could any other proposition he
had heard hope tor more than a comparatively trivial
support, and the result, therefore, would be 10 keep
the question unsettled, and the country agitated upon
a subject of such importance. He hoped, therefore,
that rs his measure was a very considerable conces.
sion, the house would preserve the country from
0uch q stat e Ot In los by agreeing In the cecaH0 read
ing of the bill
Lord wor.ley expressed his intention TO vote
against the second reading Of The bill.
The house divided.
For Lord Ebiington's amendment. .....,........l76
For the second reiding 1854
The bill was read a second time, and ordered to
be on Friday next.
TRADE AND NAvIGATIoH.- Imports-From a cor.
rected account OF the Imports of the principal arti-
cles OF foreign and colonial merchandise, of the
consumption OF such articles, and of the customs
duties received thereon, in the year ended January
D, 1917, compared with the imports, onsumption
and receipts Of the preceding year., it appears that
the gross total amount OF duty received on the
above mentioned articles, in the year ended Janua-
~ 8, lSl2, was f23,6O6, ia, being an increase of
Il4O,0U7, over the amount received ia the prece-
ding ear.-ParliamentaryP Paper.
House of
FRIDAy, MARCH lin reply to a que stion from Mr.. S.
Wortley, relatly c 10 the recent disasters in the West of
India,
Sir Peel stated the amount of information which
only to the 10Th Of January. 1t was impossible to DENY
tn at our troops had met with a very serious reverse, and
by an act Of great perhdy and treachery, had been at.
tackled ontheir way from Cabool, after It's capltulation.
Still there was no cause for despair, and government
would take immediate steps to remedy this partial dis
aster, and he had no doubt but that parliament would
give its support to Whatever demand the government
might feel it necessary to make in consequence of what
had take place, in order that no exertions might be aba.
ted to maintain our India empire.
Sir j e. lIoBHoUsE hoped this statement on tho part of
the government wouldtrsnquilize the alarm which pre-
heved to be much exaggerated.
The House having resolved itself into a committee of
Sir ROBERT PEEL rose to develope the views of gov.
eminent upon the country's financial and commercial
policy. He said, he should think himself unworthy of
his trust, II he could suffer the prospect before him to
his hopes or abate his alacrity. He would
,oncea al nothing; the first step to improvement in the
of the country was to look its diff culties boldly in
the face. He would take the responsibility of proposing
he thought necessary, and the house with whom
would rest the acceptance or rejection of his proposal,
SHOULD be furnished with all the information in his power.
He had two requests to make Of them. Speaking thus
early in the session, he hoped, first, that allowance
mates; and, secondly, that gentlemen would suspend
their judgment until he should have finished his state.
ment, when the whole Of the plan would be before them.
The Chancellor OF the Exchequer had calculated the
probable revenue for the year ending April ls4a, at cas-.
5000, and the probable expenditure at ESQ, 735, COO, and
that calculation had proved TO be very nearly accurate ;
the actual result being only fl6s, 900 below that estimate
OF revenue, aud a little-he knew not precisely how
much-below the estimate Of expenditure. For the
year ending April, lol3. the estimated revenue would
be AS 350, 90, the estimated expenditure $50 SIG 600, and
the consequent deficiency u, 1863 90. Afurthtr probable
outlay must be provided for in respect OF the war in
China. Something must be made good for Australia,
and something in Canade; and a considerable addi-
ton must be made to the army estimates on &C
count OF the war in Ahshanistan. The finances
Of India, too, required attention. If Indian credit
were shaken, the credit Of England would be affected
and the present state of Indian finances was not a
consola,ory one. lie feared that the deficit tbereupon
in The two years ending next May would not be less than
100000. How, then, were these deficiencies at home
and in India to be nett Should we persevere in the sys-
tenn Of the last five years, the system Of loans and exche.
bills, the system of permanent addition to our debit
expenditures or was the present deficiency an occasion
onei No; 1t had been proceeding for the last six
In such circumstances, he could not resort to the
~eNpedient OF continued loans. When the post
oihce revenue was abandoned-a surrender which he
had dissuaded-the parliament which gave it up engaged
10 grant some other supply in its steal. Should he then
impose a tax on articles Of consum ption, on the necessa-
ries oil LIE! He could not consent to place burdens upon
classesi aud if the house attempted that they
posed an additional per centage of five per cent on the
and excise, and 10 per cent. on the assessed
customs and excise, instead Of producing fl0 on each
el00, had produced but about los but the per centage
N the assessed taxes had produced considerable more
han the estimated result Of flO for each $1,000, a new
urvey, however, having been made for the purpose Of the
increased assessment. These facts proved that the coun.
ry had arrived at the limits Of taxation on articles of
LIE sk anAlt.
hould he revive old taxesf Should he go pack to the
os. Off ,ef At present, new packet expenses being sd.
ed, the post ONCE produced no revenue at all, but rather
ccasioned a charge; but he did no. think the recent re.
uction had yet a sufficient trial to justify as yet an in.
rease upon postage. Should he revive the taxes upon
upon leather, or upon wool1 Upon the faith Of their
BOLTON contracts had been entered into, and salt, partie-
Ilarlv: had been applied toa variety Of new purposes.
should he resort to locomotion for the purpose Of taxa.
ionf Hewas reluctant TO tar the means OF transferring
rom place TO place the labor Of those whose labor was
ner only capital. Gas light would fall within the same
10y and ought TO retain the same protection. After
nsg the various suggestions OF people who were
umh,snna! sending him projects for taxes on pianofsrtes or
csn,asas secompanied with claims Of very large per
,iss - F, .pon .he proceeds, he came to the question, |
,,aS.a ~ ,ne late government, how far i, might be posi-
-, 80 oo,aih increased revenue from diminished taxa |
ion a resource which the fullest CONFEDERATION had !
M" was wholly inadequate TO the immediate |
49, y NAV nations revenue W as eventually in. |
az, ,esseuu s a,mlnished taxation, might be quite true but
,ns q s.euect wa aiweysafan Il OF that revenue. and . |
iohg interva! was found necessary 10 restore ,ho ,mannt
= : ~ princ,p'e was illustrated by wha, had happened |
s,S - 70 VINE, 'ooaeco, coffee, hemp. rum. sugar. /
and other articles. A mere reduction of S,,;as ,Shs.'
fore, would not suffice TO meet the presen, ss.nsae
lnl - ,.~.ll Il