Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1846-03-06

IUcCt " Hc TeWOUut " pToteItSOft oH
the 2evenue IF Great Britoin.-l'he fol-
lowing is an extract of the speech of Sir
Robert Peel, on the reading of the Address
in answer to the speech from the Throne:
Now as to trade. As said, during the
last four or five years we have been acting
on the ADMITTED principle Of renewing pro-
hibiions-reducing duties-that is. de-
s,roying protection TO native industry
That has been the primer pie. whether rig ht
or wrong. on which we have acted--the
removal of protection to native industry
Now, what has. been the result? | will
give you the total arpount OF exports since
the year 1899. The total value Of British
produce and manufactures exported from
The United Kingdom was, in 1899, 3d.
OOO, OOOl.; in 1870, 81 ,Oe0. OOOi.; in ls41.
81 900 OO0l; in 1912 47. 600. 0OOL.; in
l943. SO OOOO OOl in 1914. SO 600, OOOl !;
that is, the rise from the year when the
great evasion upon the protection of do
| nestle industry was made BY .Parliamen,
was from a. 38l ,OOOL. in 1912 to So 500,
O0Oi. in 1914. But it may be said that
The China trade made all the difference
| Now let us deduct the whole Of that trade.
In 1912 our exports 10 all the countries ex-
cept China amounted to 46.41l ,OO0l.; and
in 1914 they increased by 100000 OOk:
amounting to 56.OOO,OOOl. For the las,
year we can only have the account for
eleven months preceding December. In
l843 the exports of our principal articles
Of manufacture to all parts of the world,
including China, amounted TO Al ,Ol l ,O0Ol;
in 1914, to 47.312 ,OOOi; and, during the
first eleven months of 1916. to 47,764,-
OOOl Such is the state of our foreign ex
ports under this system of continued re-
moval of protection.
Now let me take the revenue; the re-
suits of the revenue as bearing on this ques
tion-ought there to be high protection il
a country encountered with an immense
public debt aud heavy taxation? In 1912
I proposed reduction in the Customs tC
the amount of .439, OO0i.; in 1914. pro-
posed further reduction in the Customs
duties to the amount of 273 ,OOO.; in 1915
to that of Q, 1919 OOOl. estimated the to-
tai loss from these reductions at .4l8 900
/ How have these expectations been rea!lz
ed? Have 4.OOO,OOOi. been lost? The
total amount of The loss has been 500,
OOOl. In The Excise last year there wa
reduction of million in duties; the who'll
of the glass duties, the whole of the auc
ton-duty, were taken off. The loss OF
that occasion was estimated at 1000, O0Ol
Observe, that was no mere reduction o
duties; there was no expectation. therefore
of recovering The revenue by increased con
: sumption. felt confident. that althoug
) the glass and auction-duties were abolish
ed, still. by vivifying other branches of in
dustry, should derive some compensation
What will be the fact on the 5.h of April
Notwithstanding the total reduction, III
' absolute loss Of million, my firm belle
is that the Excise will this year be NOR
prosperous than ever. N"twithstandln
these REDUCTIONS. there has been salien
' spring of prosperity which has supple
the void you caused by the remission q
taxation. Well then, with that evitenc
before me, could | contend that on accoun
of high taxation or great debt you must ne
cessarily continue high protective duties
| have shown you that my estimates as t
loss in the Customs have been already fal
! sifed; that the Customs this year amou"
TO nearly 100000 COOL; that. compsrln
1.-The Customs revenue of 1916 with th
Customs revenue Of 1912, after ti,at dithir
:, nation of taxation 10 the extent of 1000
OoOL.. the Customs Of This year. exclnhin
from both years the revenue from iorelg'
corn. are better by 100000. than in tn
= former year.
.s-a