The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-05-04

which he w9uld TatneI take ana oil tnls
sum about E220,000 consisted OF money which did NO
proceed from permanent recurring sources. Alter
passing auson TO the shipping and West India interests
he adyerted TO the Exchequer loan iund which 1t was
not he said the intention OF the government 10 abolish
the fund having realized after paying all expenses, mel
balance Of f227O0O and he then approached The discus
sion OF the income tax,
The first question: be observed, whether not the
tax should be parted with al once lie described al some
length the powerful effect which this tax had i bet re-
sorted to at early period OF our fiscal difficulties would
have had in keeping dswn the accumulation OF debt
From The calculations he made he deduced proof that i
the efficacy OF this great engine not destroyed II
would afford the means, should hostlnes unhappiy
break oa OF at once raising an army OF 800 600 troops
and fleet OF 900 seamen, with other auxiliary aids
that would put this country IN condluon TO DEFY Inc
world
end uncertainty 10 this tax, and they thought lhey
should take efeciual means 10 mark II as temporary
tax, and lay the ground for Parliament II II deemed NJ
al given period, 10 part with H. ihey proposed 70 re-
new the tax for two years from April 1885, at The pres
ent rate of I'd in the pound for two years more from
April 1855, al Cd and for three years more from April
1857 at sd that the tax would expire on the ON oil
April, 1860 While they proposed 10 renew Tie income
tax, they intended 10 accompany ms renewal WIN re-
et from taxation; 6ul WIN surplus 80 small, larger
mission OF II the income tax was 10 be continued
should il be extended The view of the government
was that the late administration night in thinking
that, If the income tax was 10 be retained, the exemp-
tons must be narrowly considered.
The persons whose incomes were below El50 had
taxation and the government proposed that incomes be-
tween El00 and ESQ should pay Sd IN the pound Tor
the whole time The tax continued Another great ques-
lion was the exemption Of Ireland, which had derived
benefit from the changes in our fiscal system and the
duties which had constituted the ground OF her eXemp-
ton had dsappeared the government therefore, did not
why the income tax should not be levied in Ireland.
Another object to the public feeling that the
operation OF the tax was severe upon intelligence and
skill in comparison 18th property and 1t was proposed
to alter the legacy duty, and extend 1t to all SUGGESTIONS
he d real
exist
The first years produce would be E5OO 900, and he
had DOUBT that ultimately there would be total ad
ditlon TO the permanent taxation from this source OF
co 000,0 900 year He then proposed 10 make an addi
ton to the duty of spirits in Scotland OF Is per gallon,
and in Ireland of Sd, with allowance for waste in
bond the net gain would be Ei36,000 small duty in
licenses (not spirit wine, or bee would produce fll3
900. The whole amount OF increased taxation OF 1853 4
total would be .l49 900. He had proposed charge
Ireland with the income tax and the duty spirits
but the government had come to the determination 10 re-
leve her from the consolidated annues, amounting to
ca 500 ,O00 which would from and after the 29,h
OF September last all up to that date to be paid
and all sums received since TO be returned.
He proceeded to state the proposed remissons of
taxation The first was the excise duty on soap, which
il proposed to repeal; the net loss being ETH 600
The next item the reduction OF certain stamp duties
l. life assurances, from 2s. sd. to Cd, causing imne
date loss OF f29 900; 2, receipts, 10 Id, creating loss
OF El55000 3, indentores OF apprenticeship where no
consideration was given, 10 Is 3D. 4, attorneys cerh-
premiership from Gl20 TO ESQ Loss OF revenue f4S,-
000 With respect the advertisement duty, the gov
thought right TO submit 10 the House the plan
they had adopted at the time OF the debate Thurs
day-namey, to reduce the duty TO Cd and 10 repeal the
stamp duty of Id. and I'D. upon supplements 10 newspaz
pers The first loss these duties would be fl60,000
1t also proposed to reduce The duty hackney
rages third 1t then proposed 10 reform the
sesed taxes reducing that servants private carriages
horses. and dogs The less would be f290,0OO The
system OF post horse duty il intended TO levy in the
form of licenses, making a loss OF ESD 900 Another
change in the mode of redemption OF The land
In the customs duties they had in their power make
consde rable reforms and afford much relief With
spect to the duty tea, they acceded 10 the principle
That il unwlse 10 cut If down 10 Is per pound
once, and they proposed TO reduce il from rs, IT, 10
Is l0id ill April, 1854; from thence 10 April, 1885, 10
Is Cd from thence 10 April, 1856, 10 Is 3D. and from
thens eorward TO Is The loss OF would be in
the four years fl 900.
II was further intended TO abolish all duties that were
unproductive and those levied certain manufactured
articles, making 10 per cent the rate OF the
duties retained on manufactured ARTICLES 10 substitute
in all practicable rated for 0d Uaiorem duties 10
sink the dherenlia duties between foreign and colonial
articles Of food The effect OF the various changes in the
customs duties, applicable 10 the year s5354, would
cause gross relief OF El 33S 900. So that The OF
the account for the year lS53'54 would stand thus
Surplus fS05oCO
New