Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1850-04-13
FROM ocR EUROPEAN CORRESPONDENT

FROM ocR EUROPEAN CORRESPONDENT
LONDON, MARCH 10, 1850.
Perhaps the principal feature of the public mind
of England is what the first Lord Castlereagh call
ed g an ignorant impotence of taxation This is
exhibiting itself in many ways, and among various
classes each and nearly all feel the necessity for
a reduction of the annual burdens levied upon the
industry of the country, but there is no one inte
rest or class OF society which can point out the
way of making this reduction without at the same
time increasing the burdens of some other interest
or class !" There is no interest in the country"
said Mr.. CoBDEN the other night in the House of
Commons, "which is willing to accept an increase
OF taxation, and therefore you cannot remove a
tax except by ab0lishing the necessity for it. You
cannot reduce taxation except by abolishing the
necessity for il. You cannot reduce taxation ex-
cept by reducing expenditure"
Mr.. DRuAMoNDs two propositions were-dimi-
nsh the salaries Of all servants of the CROWN and
remove every impediment in the way of the cult
yalor of the soil.
strong impression is fixing upon the public
mind that desire exists in ceDtain quarters to deal
with the public income without reference to the
good faith due to the public creditor; and Mr.. p.
MAuLE, the Secretary Of War, did not hesitate to
say that Mr.. DRUMMoND's speech, with which he
introduced his resolution, did not very dimly sha-
dow forth such an intention. The Times says:
"A school Of repudiatioa is growing up amongst
us, and day by day gaining new converts, warn
ing us that if now-oaly one generation removed
from the close Of the war-we make no effort to
liquidate our debt and c0oliy scrufMizing the
obligation, it will probably be much worse in
the time of our children, and children's chill
dren." Two or three very strong pamphlets
have been lately published upon the subject OF the
national debt. We cannot imagine that Cobbett's
remedy of "the sponge" will be applied to the
whole, TO any portion Of the debt; but we should
not be much surprised to find an attempt made to
lower the interest Of it. Mr.. Golden, when speak
ing upon the subject said he was quite ready to
vote for a ten per cent property TAG on capital
ICED income, or some such basis; and to apply
the proceeds, half towards the extinction of the
sdebt, and half towards the remission of indirect
taxes but that neither he nor the mass Of the
people will endure shifting of the burden from
| property to Industry" The Times says, I" In
our humble opinion, it would hardly be safe to put
one ounce more on the broad back of industry.
/ The back might not break, but the beast might
REBEL" The course recommended by the Times
is that the utmost attention should be paid to eco
nomy in our expenditure that our income should
be kept up to the present point, but without any
additional taxation; and that the surplus, OF two
millions sterling or more, should be annually ap-
by an arithmetcal calculation, the editor says, this
process would entirely pay off in tUo centuries
but that it would work much speedier result by
its moral power. A correspondent of the Times
says that the annual saving and investment Of
g2,000,000 at the present price of funds, or say
at per cent? would in fact pay off ESQ, 900, OOO
in eighty-sx years, or within the lifetime of some
who are in being. The Times, in the conclusion
to its very earnest article, says:
"We confess to some anxiety the subject, because
there Of influence in the nation who have settled
among themselves that industry shall pay nothing but thu
interest Of the debt leaving property pay the capital if
peases distribution which threatens design, viz
that ordinary times shall pay the interest," and that the capita
shall be left for revolution to wipe out"
/ Parliament, or rather the House Of Commons, is
in very disorganized and feverish state. Many
of the members, owing no allegiance to leader
appear also 10 have thrown off all allegiance to con
sistency. Any mere generality which commits
them to nothing except little mischief, is Of
a large though very miscellaneous support; and
thus Mr.. DRUMMoND's very misty and worthless
resolution received the sanction of 1876 votes
very considerable number, when the majority against
it was only "a.
The Chancellor the Exchequer has brought forward his
budget for the year ending 5h April, 1851 His statement
commences with the satisfactory that THE
penses Of last year ESQ, $685. $751; being 900
less than estimated and the Of last year Esq., $780,
being 9523 500 more than estimated making surplus
60, 25l, $40.
The receipts Of the next year expected to fall off prn-
cpaly of the reduction of the duty sugar and
the diminished importation Of bandy the consumption Of the
latter last year. owing the prevalence of the cholera,
900 gallons than during any former year. Again,
the unusual importation Of grain in ls49 furnished
nue. the duty of shilling quarter Of $780, 900.
This duty for the coming estimated only e250
The estimates for the year ending April 5h, 1851,
@.t.s Rerenue.
Sus'oulS.
Excise. .......... .lf,ofo,uoO
/ iAsseeseu TAXES f,o~O,OVu
income tax --o,4iO,oOU
os oiiCc .o~VsVVU
oIoWu duus. loo,UUO
Nscei'aieous .~oV,UVU
Total income. 81, 80, 900
Expenditures.