The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-04-23


time fire is hardly necessary.
L. S. j. Jr
Correspondence Of the Journal Of Commerce.
LONDON, April l, 1912.
The two Houses Of Parliament adjourned on the
3d. for the usual during the Easter Holidays
the Lords to the 7lh of April, and the Commons I'M
til the 4th only.
Previously to doing SO, the latter were principally
occupied with Sir Robert Peel's scheme for tax
ing incomes, and with his proposed Corn Law BILL
The Premier threw all his energies and influence
for the purpose of getting these measures advanced
step before Easter and he resisted every entreay on
the part of the leaders of the Opposition and Of in
ovduas to postpone the further consideration of such
financial plans until the whole country had sufficient
time given to maturely to consider and express an
opinion upon the same. This refusal drew from Lord
John Russell powerful and firm denunciaion of an
income tax and declaration that he would take the
sense of the House on the proposition at every stage
feeling that it was his duty to the country and to his
party, to oppose so iniquitous impost by all the
forms allowed by Parliament The leader of the OPP
position was vocferOusly cheered by his followers and
several of them exhibited zeal in this suggested
fare which expected by his lordshp for they
kept up fire of successive motions for adjournment
which, as every member has right, at any Time to
the adjournment of the House. filtered away
the hours that the minister compelled to admit
his mpotency to prevent their object being attained
and, with sulIen look and pitiable chagrn Welded
up victory to the daring little band who thus ven
tured to oppose both him and his "monster majority
1t must be severely felt by Sir Robert that he did
not concede with good grace, that which has been
SO contemptuously wrung from him, fol- he has not
point of popularity to lose on the question: and his
refusal to gran, time for consideration will have much
the appearance of caous haste and indecent precip
tation 1t will also enable the Whig Radicals to claim
great and substantial triumph and to point hereaf
ter to their fierce and formidable opposition to tax
which is, and must ever be- almost universally unpo
pular, and which, by their resistance may be yet
chance considerably modified fnot altogether thrown
overheard Not bear in mind, that can see at the
present moment any positive prospec, of ito abandon
ment, but there is such growing dislike even detes-
taton, to portions of the proposed income tax,
among the more immediate adherents of the govern
ment that there is no knowing what may yet be the
suit. At present. however, the minister is mistaken
in his determination to press it through Parliament,
and when, on the last evening of debate an infuen-
tial supporter of the government Mr. Palmer, of
Berkshire, strongly expressed himself against the
justice of taxing transitory incomes equally with the
proceeds of permanent capital and the urgent neces-
sity of modefang the tax the former all events
from three to per cent Sir Robert declared that
he convinced Of the necessity of the measure and
by it he would stand or fall.
81 propose now" he said "a great measure and if
the House Of Commons should override my proposal,
shall retire with perfect content, and with the
seriousness that have discharged the duty | owe to
my country. 1t may be rejected now" "My
opinions may be overruled, and yet have confident
belief that what occurred in 1885 NAV occur again
and that after the lapse of short tmeafter making
Intellectual attempts to repair the deficiency by other
means, by resorting to indirect taxaton-it will be
ultimately acknowledged that the measure which |
now propose is founded on reason and justice, and
though once rejected, ought to adopted"
have Transcribed this most important portion of
the prime minister's last speech the subject be-
it will be for you perfect mirror as to his poll
cy and Will enable you to appreciate the threat of
resignation with which he will attempt most probably
successfully, to coerce his followers But still there
many trifing circumstances all converging TO
point, and forming powerful mass Of discomfort that
great Sir Robert Peel is, backed too by so large
majority he may find dssension thckly sown amongst
his followers, and from pride and pettshness, or
both, be induced, rather than in his projects
to send in his resignation and break up the govern
ment.
He has, during the vacation, caused it to be intmat-
ed to the several members of his party who have
exhibited GOODNESS to his proposition, that he will
not tamely submit to Indifferent support to luke
aid, tacit toleration but that he shall ex
pect, on the Resembling of the house, that decided
and unequivsca assistance and approval without
which no minister would be justified, either to him
self, or his country, in retaining Office
Sir Robert, when the house rose, fled from the
metropolis to Brighton for the purpose of reinvigo-
rating himself from the breezcs of that mag
nificent watering place. He has mel her received
nor paid visits but has shut himself up with his own
family.
BY way of helping him out Of his present embar-
rassment, gentleman named Grmstone has suggest
ed very admirable scheme for superseding his pro-
posed income tax. 1t is easy of comprehension, sim
pie in its Details and most effective in results Sir
Robert has very respectfully acknowledged the sug-
geson, and admitted that it is worthy of mature de-
liberation The proposed plan is ths--to impose
stamp on all checks and drafts-under e5O-of two
pence-above that sum fourpence The calculation
is thus made: There 3 900 bankers in the United
Kingdom, averaging 500 depostors each, and each
dePosltoT draws on the average, six checks day,
making 100000 of checks drawn each day. Now
taking the two penny stamp merely it will be found
that this would yield return of f5O,OOO per dav-
~3OO OOO per week of six days-9l 200 600 pe1month
= and grand total Of ELS, 100000 per year But
even supposIng, on the average, that only three
ehecks a day are drawn what an immense income this
wou'o Drng,saying nothing about the ourpences TAX
ing even one check each day. the result would be quite
enough 10 answer the purpose of any minister The
revenue Also can, fro this source be collected with
out the slightest difficulty because it could bc made
imperative that ali bankers should send Ibo;r n,ar
tor check books, when in Sheets TO the stamp Office
and OF course the stamps would be paid on the
verlng OF the stamped paper, precisely as the news
papers are now charged. This system also would
tend to the prevention of forgery and operate against
the evasion OF the stamp duties; check being now
held to be as valid as stamped receipt.
The question of the income tax is occupying the
attention of the provinces, but though have looked
over some 70 or 80 country papers, which have ar
rived by this days post discover any violent
or even jealous opposition to the ministerial scheme
The apathy in the country is truly astonishing The
distress is still as great and melancholy as during
The winter.