The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1845-03-24

most of those heretofore published. II appears in
the London Weekly Chronicle Of February 10.
The very favorable bearing which Sir Robert
Peel's plan has TO the interests of the United
States, renders the most lucid views Of il des-
rabe. The friendliness Of the relations which
il tends to establish with US, is another consd-
Grafton which no patriot or philan,hropist will
overlook.
THE FINANCIAL STATEMENT.
Sir Robert Peel's Financial Plan is what ven
tured To anticipate Friday as possible, and even
probable, IN a Of high intelligence, aware Of The
expectations Of the country, and taking Just view
both Of It's wants, and OF his own strength. II VIII
DO perfectly succe ssiul because II IL bold, compre-
hensIye, and jusi,--bosed upon sound principles
with one exception, Sugar,-uitorly regardless oil
class interests, and placing Iust confidence IN the
resources which the reduction VI taxation VIII ilsell
create by relaxing the pressure upon the springs 81
industry, and opening new helds OF employment ana
trade.
Il is our wish to state the changes proposed in the
simplest possible FORM but cannot compress into
small compass statement that occupied three
hours aud a half
The Premier hogan by stating the revenue for the
year ending January, lo45, at 800, and the
expenditure at ESQ, $40 900 and carrying The es-
innate To the 9th OF April nexl,-the natural end Of
the financial year,-he assumes that there will be a
surplus of FIRE millions net, sat the very least"
For the year ending 5th April, 1916, supPosng the
income not To be renewed, bat including the half
year about TO come due, he lakes the revenue from
ordinary sources, at f45, 500 600 which, with the
halt years ineome tax az, 6OO,0OO) would give
k5l lO0, 900 and after deduetlng the expenditure,
calculated upon the estimates for the present year,
(k4S, 557 ,000,) this would leave surplus Of e.
900.
But the Government eonceises IL 10 be ndispensa-
BILE that the expenditure should be increased 4 600
men to be added 10 the navy, for tho protection
| OF our growing commerce upon The African coast
10 the Pacific and 10 the Chinese seasat cost OF
klS4 900 and the Improvement OF tho steam navy,
the construction OF Docks,-and the maintenance Of
| eight nine sail Of the line in commssion,-will
make the total vote for the Navy estimates exceed by
| million that Of last year.
Vih this addition, The expenditure for 1886
would be f49 690, 900, and the estimated revenue
s5l 600 900, ioii.0l the income tar, or rather with
the aid OF the hali-hears Income tax about TO come
due. If the income tax be r,aeped the revenue Tor
| 1886, will be k53 100000, and the expenditure
k49 $50, 900 so that the Government will have a
! net surplus Of f3 900 to dispose Of which II is
proposed TO apply 10 the reduction of duties upon
materials, and the repeal OF taxes that require large
establishments, and much expense Tor their coliec-
on, in the hope that "this great experiment, as Sir
Robert Peel Justly termed "wil fill the void, that
II at first creates, by The impulse, which II must
| give TO commerce abroad and at home.
sTOMs.
| SUGAR
| The SUGAR Duties,-at once the most faulty, and
the most important part OF the Government Plan, for
they involve the largest amount Of Reyenue,-ar to
be reconstructed upon the bad principle adopted last
| year. The distinction between Free Labor Sugar
/ and Slave Labor Sugar Is TO be preserved but the
| Duty British Plantation Muscoyado Sugar is TO be
reduced IRON 24s, TO las, and the Duty on Foreign
Free Labor Sugar, from 35s Cd, to 23s The Differ
entail Duty will be IS I'D on Muscuvsdo Sugar, and
lis I'D on White, Clayed for there to be two
classes and the effect Of this reduction on Price
is calculated at ID, or ID. per ID. The Govern.
ment reckons upon an increased consumption OF
$4,000 tons in spite OF which there will be loss
TO the Reyeaue OF 81 100000
EXPORT puTms-coM
The du,e, on exports were nearly all abolished 10
| lsil. hose that remain, now to be done away
with,-including CoAL,-at a loss to the Revenue Of
Ill5,000.
| IMPORT DUrIEs-RAw MATERIALS.
Out of Sl3 articles contained in the Tariff A3C
are to be struck off; power Of examination as tc
Weights, and QUANTITIES, being retained at the Gus
tom House, Tor statistical purposes, but without even
a Registration Duty, unless proved necessary by ex
perieuce. The list OF exemption comprises Silk
Hemp, Flax, Yarns, Furniture Woods, Animal anc
Vegetable Oils, Ores, Minerals, Zinc mot Copper
| Dye Stubs--Drugs. Tue principal exemption /.
| Timber, the duties which are to remain unater
ed, the imports of Baltic Timber being steadily upor
the increase but from this exception, again. are ex
cepted Slaves, which to come in duty Free case
OF peculiar hardship having been made out by the
Coopers, the tax upon whose industry now amount,
to IS per cent.
| Ill.,. COTTON WOOL
The duty upon Cotton Wool, amouating to 9 pc,
cent upon the raw material, when Cotton is I'D pei
h., and to ~ per cent when it is Sd per Id. (as now
,sg 'pen ~P altogether. The tax was most exceptions
BILE. 1t fell with peculiar severity on the Coarse,
Fabrics, while on the Finer Muslins il was almos
| imperceptble. Nothing will tend so much to lighter
Foreign Competition, or TO increase employment al
home nor do we know any way, in which the
f650,0OO, at which the loss of the Revenue, is est
mated, could have been so well employed
EXCISE
1t was most satisfactory to hear the whole of the
| existing Excise Duties designated as "badn if con
sidered with reference to principle and not to Rspe
| nue.. Two OF the worst may be inc uded, hencefor
| ward, amongst the evils, that have been-the Auc
ton Duty on Property sold-(most properly describ
ed as "a duty on distress, )-32 exemption from
which have already been sanctioned by act of Par
lament, and which only produces 600 900, in Eng
land, Scotland, and Ireland aIthou IN the amount
property advertised for sale in 1910, CAS- 232 600
--and the duty on Glass-long known, and de
nounced, as the bane of British enterprise--he clog
upon British skilla direct competition upon the pr
ductions OF Belgium, Bohemia, and France.
The details given by Sir Robert Peel as to the ope
ration OF this Tax, and the immense changes, te
which its abolition will lead only prove the insanit,
Of having tolerated it up to the present day. IL.
amount may be taken at from 200, to 300 per CEN
upon the value of the material Glass work, which
is now contracted for at Is per foot, will be done a
81, or I'D, wi bout the Duty. The vexatious repula
La L
TONS to which the Manufacture is subjected render
competition with Foreign Glass impracticable, SC
that French, and Bohemian Glass is now imported
into England for expectation to the British Colonies
where, for the last Seven Quarters il has been era
dually superseding own because better and ehenp
| en-. Why The manufacture abroad is free 7 There
| IL n Vel I'm i,tar e