The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-04-29

Peel being ultimately carried, and also the doubt
that exists as to the permanency OF his ministry.
The arrivals of produce have been TO small extent
only since this day week. but several ships are near
at hand and the public sales declared to take place
are highly Important and will further put prices to
the test 1t is surprising fact that most kinds Of
East India and China produce are selling here un-
der the cost OF Importation
The REvENuE-The exposition is discouraging
one, and it proves that Sir Robert Peel's newly
adopted whig radical and free trade policy must be
followed by the same. results that attend the adhe-
sion to the same policy by his whig-radical and
free trade predecessors The total decrease of re-
venue.upon the year is no less than two millions
three hundred and twenty-seven thousand pounds
sterling.
In the customs the decrease is more than two mil
lions and halt in the excise E33S, 822 These
two items would by themselves account tor more
than the aggregate decrease, but that theyarein part
balanced by casual payment OF about three quarters
Of million OF ransom money from China.
II has been stated, indeed that the decrease in the
customs II to be accounted for by the anticipated
reduction OF duties on imports, from Sir Robert
Peers Tree trade measures, but the returns will not
bear out this solution for the decrease is least in
the last quarter when only, the tree trade measures
could be anticipated In the last quarter il amounts
to more than f440,6SS. In that quarter there u.s.
however, fearful decrease upon the more impor-
tant domestic sources OF revenue beginning with
the excise which presents decrease on the quarter
sand pounds, the index to future annual decrease
OF greatly more than one mllhon sterling.
The last year, too (he Premier has boosted of it)
has been year OF unexaml led manufacturing pros.
perty, with this result, that there has been de-
crease IN the property and income tax, though
small one. Now this decrease, whatever its amount,
proves one OF two things-vIz either the manufac-
turers who talk OF having doubled their capital with
in the year, have made false reta rms to the property
and income tax commssioners-or the other payers
OF property and income tax have lost in the year as
much az the manufacturers have gained There Is
no escape from this dilemma.
Thanks, however, to the property and income tax,
and 10 the Chinese indemnity, there Is still surplus
income above expenditure. But for the property
and income tax, and the Chinese indemnify, this
surplus would be deficency-a deficiency as great
as any that occurred during Lord Monteagle's or
Mr. F. Baring's administration of the Exchequer.
The country must therefore content itself with the
consoatory assurance that, If the tree trade policy
is to be persevered in, the property and income tax
are rivetted on il for ever-rvetted on it with GER
tainty OF enormous augmentation:
Let not men deceive themselves. The people
who In 1872 (when the free trade policy was intro
duced by Mr.. Huskisson) were able to pay, without
Inconvenience, sixty-four millions in taxes upon
consumption, are now able to pay but iorty-ive or
forty.sx millions. Whya Because before lss2we
the foreigner and the mill owner divide the fruit OF
our labor between them.
Let not men, then, deceive themselves with these
facts before them, complain that SIR Robert Peel
!
no man. True, he said last year that the property
and income tax should terminate with 1873 /; but
look to the revenue returns, and look to his free
trade projects, and there see the terms Of his next
| proposition-for a renewal, aye, and large aug
mentation of the property and income tax. These
terms are expressed IN q familiar and even vulgar
phrase-"No compulsion, only you must" Sir Ro-
bert Peel makes the renewal and aggravation Of the
property and income tax indispensable 10 0bviate
national bankruptcy We may all now see the trick.
London Herald
The official revenue returns for the year
and quarter ended the 9th instant have just
been published. They show decrease on the year
E2 s.; ~ Fly: and on ne quarter decrease OF OF
duties reduced abolished the1 enhanced price OF
provisions, and the general stsgnation OF trade and
commerce, is less than might have been anticipated
There is still however, a surplus OF 81, 7S3 ,SOS OF
revenue over expenditure. In the customs there is
decrease Of f2,5l2, lib on the year, and Of f440
5SS on the quarter In the excise there has been
decrease Of ssssS Ss on ,n,I the year. and Of
items, on the year, is e $50, 1885, whilst the total
amount OF duties reduced or RENTED, last year was
E3, 3Sl .0OO The property tax shows an increase
| on the quarter of E5S,l7l, and decrease on the
year Of El9.7O7, the total amount of revenue
derived from that impost being for the
quarter 81 96S, 1872 and for the year Is. 064 074.
In the stamps, taxes, and Crown revenues there has
rejoice to say, there has been increase Of EST,
600 on the quarter and Ea9 900 ON the year, and we
have no doubt whatever that If the plans. OF that
great national beneiactor, Mi. Rowland Hill, which
combine frequent deliveries, and proper attention
10 the public wants and acc0modauon,lwith cheap
and uniform postage, were properly carried out In
stead of being shamefuy neglected, the proceeds OF
highest sum ever received under the old system
the total charge for the quarter 10 E8 AT 206, de-
crease OF f2S2, 7T, as compared with the cores
ponding quarter OF 1915. The total ordinary reve
is for the quarter, GO $780, and tor the year,
E47, ,75l, showing decrease on the quarter OF
FL III, 504 and decrease on the year OF Il SN,
PIG, yet still leaving surplus Of income over
penditure of fl,7SS, 3O6.
ErFRcrs OF THE TARIFF ABRoAD-The Cologne
Gasene states that the notifications in the English
tariff which permit the free importation Of cattle
and all sorts Of meat into Great Britain, have
acted on the Hamburger markets that prices have
risen Immediately SO much 80 that 1t 10 sensibly
felt by the middle classes, whilst the poor are
scarcely able to buy meat at all In the course OF
last year Hamburger exported to England from 5000
to Z, 900 head of horned cattle.
SIR ROBERT PEEL AND THE TMEs.-The Pre-
mier is lost to the drama. No one to compare
with him for the construction of plot No one
can tie up things into so desperate an entange-
ment, and select so judicous a moment for the fall
OF the curtain just as all the dramatis persona are
engaged In one complicated scheme OF mutual des-
truction, of which the heroine bids fair to be the
drawn from our eyes, and we are lett to anticipate
if we can, the ingenuity Of the hoped for deliver
ance. The fair lady is Free trade, to whom Sir
Robert appears at present but a Tecreant knight
After solemnly pllghtng her his roth, of he starts
to capture Jerusalem Meanwhile she 10 surround
ed by foes and false friends, and it requires some
faith to believe that she will ever get out Of their
clutches. Just AZ the blow is about to be struck,
the curtain drops-ihe number OF the Jswileton
coses-ihe irSyovisotors sends round his hat
When the feelings are narrowed 10 the highest
pitch of endurance, they are suddenly commanded
to wait The artist closes his lips. fods his arms,
and gaxes on vacancy. The audience are perfectly
helpless.
Swift helps us to title for our drama. The Battle
OF the Bills is as terrible, il not quite so heroic
affair as the Battle OF the Books II would be vain,
however, to 60 TO that authors classic originate for
figures to suit u.s. Homer's confux OF winter tor
rents In a rocky bottom, and vrgil's Exrr,gue No
t,sque, are nothing to The Legislative melee. We