Twenty Years of Financial Policy: A Summary of the Chief Financial Measures Passed Between 1842 and 1861, with a Table of Budgets

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Էջ 355 - That this House, recognising the necessity of providing for the increased expenditure of the coming financial year, is of opinion that it is not expedient to add to the existing deficiency by diminishing the ordinary revenue, and is not prepared to disappoint the just expectations of the country by reimposing the income-tax at an unnecessarily high rate.
Էջ 190 - ... keep it, or should leave it in a state in which it will be fit for service on an emergency, and that it will be impossible to do if you break up the basis of your income tax.
Էջ 313 - That it would be expedient, before sanctioning the financial arrangements for the ensuing year, to adjust the estimated income and expenditure in a manner which shall appear best calculated to secure the country against the risk of a deficiency in the years 1858-9 and 1859-60, and to provide for such a balance of revenue and charge respectively in the year 1860 as may place it in the power of Parliament at that period, without embarrassment to the finances, altogether to remit the income-tax.
Էջ 248 - Almighty to impose upon the ambition and the lust of conquest that are inherent in so many nations. There is pomp and circumstance, there is glory and excitement, about war, which, notwithstanding the miseries it entails, invests it with charms in the eyes of the community, and tends to blind men to those evils to a fearful and dangerous degree. The necessity of meeting from year to year the expenditure which it entails is a salutary and wholesome check, making them feel what they are about, and...
Էջ 21 - Your conduct will be contrasted with that of your fathers, who, with a mutiny at the Nore, a rebellion in Ireland, and disaster abroad, yet submitted, with buoyant vigour and universal applause (with the funds as low as 52), to a property-tax of 10 per cent.
Էջ 154 - No part of a person's expenditure is a better criterion of his means, or bears, on the whole, more nearly the same 502 proportion to them. A house-tax is a nearer approach to a fair income-tax, than a direct assessment on income can easily be...
Էջ 189 - Depend upon it, when you come to close quarters with this subject, when you come to measure and see the respective relations of intelligence and labour and property, and when you come to represent these relations in arithmetical results, you are undertaking an operation which I should say it was beyond the power of man to conduct with satisfaction, but which, at any rate, is an operation to which...
Էջ 189 - Whatever you do in regard to the Income Tax, you must be bold, you must be intelligible, you must be decisive. You must not palter with it. If you do, I have striven at least to point out, as well as my feeble powers will permit, the almost desecration, I would say...
Էջ 199 - On the general character of this remarkable budget, the same writer observes, ' We miss in it the caution, which is perhaps the most striking feature of the financial plans of Sir Robert Peel ; while in its place we meet with a boldness of conception, a love of effect, and a power of producing it, such as we do not find even in the remarkable budget of 1842. Yet it would be unjust to Mr. Gladstone to find fault with him on this account. When we look at the circumstances of the case, we cannot but...
Էջ 309 - I were to define a good system of taxation, it should be that of bearing lightly on an infinite number of points, heavily on none. In other words, that simplicity in taxation is the greatest additional weight that can be given to taxes, and ought in every country to be most sedulously avoided.

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