Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1853-05-07
FOREIGN INTELLIGENCE.

The principal feature Of the European news brought by
the steamer Baltic Is the financial statement Of the Brt
sh Chancellor of the Exchequer which was brought for
ward in the House Of Commons the 18th ultimo sun
ported by speech from the Chancellor of nearly Eve
hours duration
The first portion related the accounts Of the revenue
and expenditure In April 1852 Mr. D'Israe he OBJ
served, had estimated the for the year al
81 1921, 000L, which, in December, he increased to
800 O00 and at the end Of the year the amount was
53069 OOOl, increase of ,464 OO0L the estimate
framed at the of the year. The expendi-
ture estimated in April, 1852, at 81, 63, 000 but
the actual expenditure was only 000 The balance
sheet showed an actual surplus Of 000 but before
oo'siuerng the amount available for remission of taxa
on y was necessary TO examine the estimated expend
va ioi .ne year just commenced, which amounted TO
SO that three-fhs of the surplus dis
posed OF ny charges for abtehunder act Of Parliament
ana votes Tor the defences of the country
lie stated the amount Of increase in the different est
mates and the additional charges for the militia and for
pubic educauon with the estimated savings and he then
detailed the particulars of the revenue anticipated for the
Se aoO Oo1 70 an aggregate income of
oL99oooo@' leaving an apparent surplus of 8O7 OO0l
which he would rather take 700 OOO and Of iris sn
about go 0O0. consisted Of money which Ala "a, ocaaJ
from permanen. or recurring sources After passing
yerted TO the Exchequer Loan Fund which was not he
said the intention of the Government to abolish tbe fund
having realized after paying all expenses nett balance
OF 20 oo and he then approached the discussion Of
the income tax. y
The first question: he observed was whether or not the
TAX snoua DC parted WIN az once He described some
length the powerful effect which this tax had been re-
sorted to at early period Of fiscal woud
have had in keeping down the accumulation of debt
From the calculations he made he deduced proof that II
the ehcacy OF this great engine not DESTROYED il
would afford the means should hostties unhappy break
OUT OF at once raising anay Of three hundred thousand
troops, and fleet of hundred thousand with
other auxiliary aids, that would put this country in
condition to defy the world.
"a Cove
end to uncertainty this tax and thew thew
should take efectual to mark it as TEMPORARY
YAK and to lay the ground for Parliament if it deemed
~ given period, TO part with it. They proposed to
reW the TAX Tor Two years from April 1853 at the pre-
OF "a In pound for two years more from April
io,o a o. ana Tor three years from April 1857
az a. 80 mat the tax would expire on the 5h Of April
iooV While they proposed to renew the income tn thew
intended TO accompany this renewal with relief FROM,
TAXATION but with surplus SO small larger means
were required Tor an extensive and beneficial remission Of
taxes II the income tax was to be continued should II
be extended? The view of the Government was tb, ~
late Administration was right in thinking that if the
income tax was to be retained the exemntons must h
harrowiy considered The persons whose incomes were
peow 5loo mad been materially benefited by the large
of taxation and the Government proposed that
incomes between el00 and el50 should pay 3D. in the
pound for the whole time the tax continued.
Another great question 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 exemption had disappeared the Government there
lore ala not see why the income tax should be levied
IN Ireland Another object meet the public feel
ing that the operation of the was severe upon nte
gence and Skill IN comparison with property and it
proposed to alter the legacy duty and extend all
lessons the exemption of real property longer being
suffered to exist. The first years produce would be
ooo,OOOL, and he had doubt that ultimately there
would be total addition to the permanent taxation from
TINS source Of 1000 0OO year He then proposed to
make an addition TO the duty Of spirits Scotland of Is
per gallon, and in Ireland of Sd with an allowance for
waste in bond the nett gain would be 436 000l small
duty IN licenses mot spirit wne beer) would produce
id5,oVol The whole amount Of increased taxation of
1923 would be i4OOO, and with the surplus add
ded the total would be 000 He had proposed to
charge Ireland with the income tax and the duty on
spirits but the Government had the determine
ton to relieve her from the consolidated annuities
amounting to $500 000L which would cease from and
after the 29th of September last all arrears up to that
date to be paid and all received since be
turned.
He proceeded state the proposed remissons of
taxation The first the excise duty on soap, which
u was proposed to repeal nett loss being I'll O00l
The next item the reduction Of certain stamp duties
lie nsurances from 2s. Cd TO Cd, causing an mme-
date loss of 29000 3 receipts to H. creating loss
o. 3, indentures OF apprenticeship where no
was given, TO % 3d. A. attorneys certif-
Gates from ~ and ST. to o. and Co. and articles Of an
premiership, from 20t s0 Loss of revenue AS oO
win respect 70 the advertisement duty the Government
tnougn right to submit to the House the plan they had
adopted at the time Of the debate on Thursday nanelv
to reduce the duty 3d. and to repeal the stan dn az
Ia ana "a. upon supplements to newspapers The first
loss on these duties would be 100 000L
1t was also proposed to reduce the duty on hackney
carriages one-hird It then proposed to reform the
assessed taxes reducing that servants private car
RACES horses, and dogs The loss would be e29O 600
Inc system OF post-horse duty it intended to levy in
the form OF licenses, making loss Of e54 000 Another
enange was IN the mode of redemption Of the andtax
IN the customs duties they had il in their power to make
considerable reforms, and afford much relief With re-
spect 10 the duty tea they acceded to the principle
tnat was most unwise to it down to Is per pound
az once and they proposed reduce il from Is Gid to
Is I0id TIL April, 1854 from thence to April 1855 to
Is od from thence to April 1885, to Is Sd and from
thenceforvard to Is. The loss Of revenue would be in
the four years 81, 9at 600
IL was further intended to abolish all duties that were
unproductye and those Nvied on certain manufactured
articles, making ten per the Dazuum rate Of the
duties retained on manufactured articles N sphst,nte
in all practicable rated for dd palorsm duties "a
sink the dierental duties between foreign and colonial
articles OF food The effect Of the various changes Il; he
customs duties, applicable to the year 1S594 would
cause gross relief Of e1 SO that the STATE AZ
the account Tor the year ls5s-54 would stand thus
900
~" SaAeS'''''''''' ..l ,3440O0
2,14900O
Loss an remissions 1creoeo