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number, including tea, there are The state of the account for 123 articles which we propose to

1853-54 stands thus--surplus in set altogether free from duty, in- hand, 805,0001.;

taxes, volving a loss of 53,0001., and 133 1,344,0001. ; loss from taxes remore articles which we propose to mitted, 1,656,0001.; surplus, reduce, involving a gross loss of 493,0001. 70,0001., but which, with increased Mr. Gladstone then showed that consumption, may be taken at Government not faltering 52,0001. The effect of this will be about the Income-tax, but that to create a simplification of the when they propose to place the present system: but at the same Parliament in a condition to retime, I must draw attention to the move it at a future day, they make fact, that the changes of ad valorem this proposal on a basis of safe calduties into rated duties will call forculations. But first, he presented greater specification; and the reso the balance-sheet for 1854-55:lutions I shall lay on the table additional charge 1,027,0001. ; adwill enable the House, when they ditional income 1.307,0001.; giving come to the consideration of them, a clear profit which will justify the to assist the Government in deter remissions of indirect taxation, the mining whether in any of the cases entire amount of which would be I have stated it will not be better 5,324,0001. But as former reto adhere to the ad valorem duty. missions had recovered themselves, All I now say is, that if the pro- he assumed that what had happosal does not wear the appearance pened before would happen again, of simplicity that may be desired, and he thought that when the time it is because the change tends to or the expiration of the Income-tax multiply specification. The effect arrived, these taxes will be found of these various changes in the in amount very nearly what they are customs duties, as applicable to the The amount of the Income. year 1853-54, will be to produce tax, with the additions, will be a gross loss of 1,338,0001., but a 6,140,0001.; towards this, increased loss which, we trust, will again be permanent sources of income would reduced by increase of consump- give 2,540,0001. ; then the reduction, to 658,0001. The remission tions in charge on the three and a of taxes we propose as applicable quarter per cents. would bring in to 1853-54 will cause a gros3 loss 621,0001.; and assuming the anin the Excise of 786,0001., or a nual reduction of the charge of the net loss of 771,0001.; in stamps, a debt (80,0001. for the last 11 years) gross loss of 417,0001., or a net would continue, that would give loss of 200,0001. ; in post-horses, 640,0001. in the eight years up to 27,0001.; in customs, altogether, 1861. These items added together the gross amount of 1.338,0001., give a total of 3,813,0001. The or a net loss of 658,0001.: thus falling in of the long annuities in showing a remission of taxation for 1860, will operate a relief of the present year, of 2,568,0001. ; 2,146,0001., and the two totals and a loss incurred by the revenue, would give an amount of no less than after allowing for the degree in 5,959,9001. against 6,140,0001., which the remission will be placed the total amount of the Incomeby increased consumption, of tax in 1860, available at the ex1,656,0001." (Cheers )

piration of that period, should the

now.

plan of the Government be adopted. that it will be admitted that we

Thus, if the Committee has fol. have not sought to evade the diffilowed me, they will understand culties of the position; that we that we stand on the principle, have not concealed those difficulthat the Income-tax ought to be ties either from ourselves or from marked as a temporary measure; others; that we have not attempted that the public feeling that relief to counteract them by narrow or should be given to intelligence and flimsy expedients; that we have skill, as compared with property, prepared plans which, if you will ought to be met, and may be met; adopt them, will go some way to that the Income-tax in its opera. close up many vexed financial tion ought to be mitigated by every questions, which, if not now settled, rational means compatible with its may be attended with public inintegrity; and, above all, that it convenience, and even with public should be associated in the last danger, in future years, and under term of its existence, as it was in less favourable circumstances; that its first, with those remissions of we have endeavoured, in the plans indirect taxation which have so we have now submitted to you, to greatly redounded to the profit make the path of our successors in of this country, and have set so future years not more arduous, but admirable an example--an ex more easy: and I may be per. ample that has already in some mitted to add, that while we have quarters proved contagious to the sought to do justice, by the changes other nations of the earth. These we propose in taxation, to intelliare the principles on which we gence and skill as compared with stand, and the figures. I have property—while we have sought to shown you, that if you grant us do justice to the great labour-comthe taxes which we ask, the mode- munity of England by furthering rate amount of 2,500,0001, in the their relief from indirect taxation, whole, a much less sum than that we have not been guided by any for the present year, you, or the desire to put one class against Parliament which may be in ex- another; we have felt we should istence in 1860, will be in a con best maintain our own honour, that dition, if you think fit, to part we should best meet the views of with the Income-tax. I am al- Parliament, and best promote the most afraid to look at the clock- interests of the country, by deshamefully reminding me, as it clining to draw any invidious dismust, how long I have trespassed tinction between class and classon the House. (Cheers.) All I by adopting it to ourselves as a can say in apology is, that I have sacred aim to diffuse and distriendeavoured to keep closely to the bute the burdens if we must, and topics wbich I had before me the benefits if we can, with equal

and impartial hand : and we have immensum spatiis confecimus æquor, the consolation of believing, that Et jam tempus equum fumantia solvere by proposals such as these we concolla.'

tribute as far as in us lies, not These are the proposals of the only to develop the material reGovernment. They may be ap sources of the country, but to knit proved, or they may be condemned; the various parts of this great nabut I have this full confidence, tion yet more closely than ever to

that throne and to those institu- yield nine or ten millions a year, tions under which it is our happi. was not adopted by the Governness to live."

ment. — Mr. Ball expressed his The right hon. Gentleman surprise that the agriculturists were resumed his seat, saluted with a not relieved by the repeal of the burst of enthusiastic and protracted malt-tax. Upon the whole, the cheering. Several members asked reception of the Chancellor of the questions with regard to parti- Exchequer's propositions was very cular portions of the statement, favourable. The formal resoluand Mr. Hume lamented that his tion, with which he concluded, was property-tax scheme, which would then agreed to.

CHAPTER III.

The discussion on the Ministerial propositions begins on the 25th of April.

—Sir E. B. Lytton moves an Amendiment to the first Resolution-His Speech- The debate is continued for four nightsSpeeches of Mr. E. Denison, Mr. Booker, Mr. Hume, Colonel Sibthorp, Mr. Fagan, Mr. Buck, Mr. Blackett, Mr. Knightley, Mr. Maguire, Mr. Warner, Mr. Newdegate, Mr. Monckton Milnes, Mr. Drummond, Mr. Muntz, Mr. Stanhope, Mr. J. Ball, Mr. Grogan, Mr. Cobden, Mr. Sergeant Shee, Mr. J. L. Ricardo, Mr. French, Mr. Bellew, Mr. Sanders, Sir F. Baring, Lord Lovaine, Mr. C. Fortescue, the Marquess of Granby, Sir C. Wood, Mr. G. H. Moore, Mr. J. M. M Gregor, Colonel Harcourt, and others ; Lord Jocelyn, Mr. Cardwell, Mr. Cairns, Sir W. Clay, Sir F. Kelly, Mr. Lowe, Mr. J. Butt, Mr. Seryeant Murphy, Mr. Conelly, Mr. Disraeli, and Lord John Russell The Amendment is negatived by 323 to 252— Other Amendments are moved, and some hot altercations arise amongst the Irish Members— Mr. Lawless moves to exempt Ireland-- In the course of the debate which follou's, great confusion and interruption is caused by a charge of corrupting Irish Members made against the Ministry by Mr. Duffy-Mr. Lauless's Amendment is rejected-Captain Maguire's charge against the Government of breach of contract with the Irish Members occasions some further angry discussion Mr. R. Palmer moves an Amendment-In the debate which follows he is supported by Mr. Miles, Mr. Buck. Mr. Aglionby, Mr. Spooner, Sir W. Joliffe, Mr. Disraeli, Lord John Manners; and opposed by Captain Scobell, Mr. Phillips, Colonel Harcourt, Mr. Bright, Sir T. Ackland, Mr. Gladstone, and Lord John Russell Upon a division the Amendment is negatiredMr. Vansittart proposes an Amendment -Sir F. Kelly, Mr. Banks, and others speak in support of, and Mr. Gladstone, Mr. Bright, and Sir J. Shelley against it, Upon a division the House supports the original Piesolution-A Resolution is then moved by Colonel Dunne, Mr. Gladstone, Sir J. Paking. ton, Lord C. Hamilton, Mr. Scully, Mr. Maguire, Mr. Ball, and Mr. O'Connell take part in the discussion which ensuesIt is rejected by 194 to 61; as also are other Amendments moved in Committee by Lord C. Hamilton, Mr. Freuen, Dr. Michell, Mr. Walpole, Mr. J. Butt, Mr. Spooner, Mr. G. A. Hamilton, Mr. Blackett, and othersThe Third Reading is carried after a short discussion by 129 to 55 Clauses moved by Sir F. Kelly and Sir A. Campbell are rejected, and upon the motion of Mr. Gladstone, five new Clauses are added.-In the House of Lords the Earl of Aberdeen mores the Second ReadingHis Speech— The Earl of Derby states his objections to the Bill— After some discussion, in which Lords Portman, Berners, and Brougham,

the Marquesses of Clanricarde and Lansdloune, and the Earl of Wicklow take part, the Bill is read a Second time-Lord Brougham offers some opposition to the Third ReadingAmendments are proposed by the Earls of Wicklow and Lucan, and a Debate ensues, but the Amendments having been rejected, the Bill is passed.

ON!!

N the 25th of April, the debate on the bold assumption that his

on the Income tax propo- remissions would by 1860 replace sitions of the budget began; the themselves. No doubt the reducHouse having gone into Commit- tion of duties on articles of large tee of Ways and Means, upon the consumption has a tendency to resolution being read, Sir Edward compensate any temporary loss Bulwer Lytton moved as an amend- of revenue ; but this principle ment in lieu of it, that these words obviously has no application to be inserted after the word “ that” the duties on soap, in amount in the first line, “ the continuance 1,126,0001., and customs 53,0001., of the Income tax for seven years, making a total of 1,179,0001. of and its extension to classes here- taxes absolutely abolished, and, tofore exempt from its operation therefore, not subject to the comwithout any mitigation of the in- mercial law of reproduction. Nor equalities of its assessment, are does this law apply to duties on alike unjust and impolitic." He articles of luxury; nor was he sure admitted that there was much in that the smuggler would not rethe budget worthy of the high ceive the augmented receipts arising reputation of Mr. Gladstone and from the augmentation of the spirit of the approbation of the country; duties. One-third, then, of the and the Income-tax might be re- assumed surplus is altogether tained to work out the Minister's visionary. Sir Edward anticipated financial scheme; but it need not that prosperity would augment the remain as it was, and the country Income-tax receipts, and make the might have all the good things in Chancellor of the Exchequer unthe budget compatible with the willing to give it up; and that its reform of the tax. He asked the immoral influence as a premium House to remove the unpopular on evasion would rot the character features of the tax, and to termi of the English tradesmen. He pate it at the earliest possible mo treated as absurd the concession of ment. That was the intention of the Irish Consolidated Annuities, the late Government; but Mr. a partial debt, as compensation for Gladstone proposed to retain its the general imposition of the Inunpopular features, and continue it come-tax on that country. He to the latest possible moment. criticised the distinction drawn by Particular interests would not wait Mr. Gladstone between land and until Mr. Gladstone had developed trade as baseless, since bad debts his scheme, but would forestall his might compensate the peculiar balance sheet before 1860, by pro charges on land; but the distincpounding reductions of their own tion would hold good as regards —the full repeal of the advertise the fundholder. Arguing that the ment-duty, and the stamp-duty on Income-tax presses severely on innewspapers, or the malt-tax. Mr. telligence and skill as compared Gladstone based his calculations with property, Mr. Gladstone pro

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