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Saturday , December 4 . HEBE is the Budget at last . Mr . Disraeli , with great courage , has grappled with the subject , and thoug h some may be disappointed , yet , on the whole , it is well worth attention . He spoke for five hours and a half- A correspondent says of the Budget : — " It looks like a very high bid for popularity , but it is neither scientific nor safely empirical . It is , I think ( until I know it more exactly , ) a Budget of transition . It has struck a severe blow at indirect taxation , without establishing another principle in its place . "
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In the House of Commons , last night , in a Committee of Supply , the Chancellor of the Exchequer made his financial statement , which he reminded the House , was . presented under peculiar circumstances , and he hoped , therefore , that if he deviated from the usual course , it would be attributed to no other motive than a desire to convey promptly to the House the views of Her Majesty ' s Government upon matters of great importance , and the only favour he asked was that the House would not precipitately decide on . the prop ositions he should make , but would consider them as a whole .
After unrestricted competition had been unreservedly adopted as the principle of our commercial code , he observed , all well-founded causes of discontent could be removed only by enlisting the sympathy of all classes ; but he would , he said , first consider the claims of those who thought they had received peculiar injury from recent legislation , and whether their claims and complaints were just . The great interests which had been peculiarly affected by the recent changes in the law were the shipping interest , the sugar-producing interest , and the agricultural interest . With regard to the first , the Government were of opinion , that the shipping interest was at this moment subject to burdens to which it ought not to be liable , and to
restrictions which impeded its prosperity ; and they proposed to confine the light-dues paid by shipping to those from which ships really derived benefit . This relief would cost the country about 100 , 000 ? . a-year . They proposed likewise that if a man quitted his ship in order to enter the Hoyal Navy , he should not receive his wages until the rest of the crew were paid . With respect to pilotage , manning , and stamps , no immediate relief was contemplated . With regard to the sugar-producing colonies , however great might have been their sufferings from past legislation , the question was what , in the present state of affairs , Parliament could justly do for them . They claimed—first , the arrest of the descent of the duties on foreign sugar ; secondly , tho
reduction of tho duty upon British plantation sugar ; thirdly , a guarantee of additional loans for emigration and improvement ; fourthly , tho permission to refine bonded sugar ; fifthly , the permission to use molasses in British breweries ; and , sixthly , tho equalization of the duties on rum and British spirits . With reference to the first two claims , ho showed , from the increasing imports of British sugar , and tho decrease of those of foreign sugar , that there was no case that would justify the Government , after tho principle of unrestricted competition had been affirmed , in asking Parliament for protection towards an interest Unit was successfully competing with its rivals . With respect to the guarantee of fresh loans , tho Government ,
for reasons which ho stated , did not feel justified in making such a proposition to Parliament . Iho refining of sugar in bonded refineries had received ( . ho fullest , consideration of tho Government , and tluiy wore prepared to concede the boon . Tho two remaining propositions were connected with tho general revenue of the country . Tho burdens of the agricultural interest connived m local taxation , and it had been shown by Mr . C . Lewis , that , us far as principle ) whs concerned , it could not bo contested that , whereas the support of tho poor was a { rerieral obligation , it . was not sustained by the general property of tho country , and the agricultural interest felt that they Buffered injustice from the incidence
of this taxation , which was composed < if three principal rates—the highway rate , the county-rale , and the poorrate . With reference to the first , a hill would be brought in , which , he thought , would have a beneficial effect in both an administrative and a financial view . In repaid to ' he county-rato , the amount was only (><) O , O 00 ? ., and he won not prepared to recommend a change . In regard to ho poor-rate , lie had not altered his opinion , but a great change had taken placo wince 'IMi ) , when the amount of expenditure on account of the poor was ' 25 per cent , higher than it , was at present . The incidence of this lax being ho "inch lens Hevere , and believing that the measures he was about , to propose would tend greatly to assist those who
had been subjected to very Hevere treatment ., lie was not propared to recommend any change whatever in the system ol raisin g the loeal taxation of ( hoeountry . 11 enow approached , he said , ( l i , loro important , topic the general taxation , vievv'" g it under the new circumstances in which all agreed ' <> place it ,. lie hud to consider that general Hysloni , ' * W the Nolonin verdict , of the country , applying to it the pi'incj plo of unrestricted competition , and what wcro t he "leaHuroN to l > o recommended to Parliament , now that that . J'rinciplo hud been finally established , to enable tho communit y | , o encounter tlio ' coinpotition which they iiiuhI , be pre pared to meet P This eould only bo done by cheapening !> n much an possible those articles which Huntaiiied life , and J Uo found any article of prime neeonnity subject to heavy
taxation , its maintenance would be inconsistent with the new system . The House , therefore , would not be surprised to hear that her Majesty ' s Government were prepared to recommend it to deal with the malt tax , and they did so on no other plea than the interests of the consumer ; at the same time he had never disguised his opinion that there was no tax which could be dealt with by Parliament with more advantage to agriculture . The question of the repeal of the malt tax had assumed a different aspect since the repeal of the corn laws , for there could be no doubt that the tendency of our recent legislation had been to diminish the production of wheat , by limiting its cultivation to soils eminently and naturally qualified for it . In what manner , mode , or degree , ought this tax to be dealt
with ? If in a small manner , none of tho objects aimed at might probably be accomplished ; and the Government had thought it their duty to recommend the reduction of the malt tax by one-half , levying it on malt from barley , bere , and bigg , and doing away with the malt drawback in Scotland upon spirits made from malt . The alteration would take place on the 10 th of October next , when the stock on hand would be taken throughout the country , upon which a drawback would be allowed to the holders . There was another article , he observed , as much a necessary of life as malt , and subject to a much heavier tax , and lie next recommended the House to deal with the tea duties . It had been argued , in objection to such a proposition , that the article was one of limited production ; but its
importation , which was constantly increasing , had reached the amount of 71 , 000 , 0001 b ., our consumption , which was checked by the duty , being only 54 , 000 , 0001 b . In dealing with this subject , the Government , after a laborious investigation , had arrived at the conclusion that there could be no prospect of any want of supply of tea , while it was impossible to shut their eyes to the fact of the impulse given to consumption in the case of sugar by a reduction of duty . They were of opinion that it would be vain to make any difference between black and green teas , or in respect to the quality of either , They proposed to reduce the present duty of 2 s . 27 f d . per pound to Is . per pound , and that the reduction should take place during the term of six years , beginning with a reduction of 4 £ d . per pound the first year ( which would make
the duty Is . 10 d . ) , and diminishing it 2 d . per pound each year until the duty reached Is . There was another duty with which he intended to deal , namely , that on hops , which he proposed to reduce one-half . Our revenue was based upon the consuming power of the people , and be had been told that this power was becoming rapidly impaired ; but he had no evidence that the consuming power of tho people was diminishing . No doubt the returns showed that emigration was to a greater amount than was counterbalanced by the births in England and Wales ; but the consumingpower did not depend upon the number of tho people , but upon their condition . By the measures he had mentioned there would be a reduction of revenue to the amount of between 3 . 000 , OOOZ . and 4 , 000 , 000 ? . But he must remind the House that in a few months one of the principal
sources of our revenue would terminate ; and if they supported tho Government propositions , they must bo prepared to deal with the consequences of these remissions of duty , and with tho expiry of a tax yielding more than 5 , 00 ( J , OO 0 Z . yearly—the Property and Income tax . He reminded the House of the remark bo had made in the last Parliament , —that direct taxation could not rest upon a system of exemptions . The interval bad not changed or modified this opinion ; ho still said , if wo are to have rc- ^ course to direct , taxation , it should bo as general as indirect taxation , and that a permanent system of direct taxation founded upon a large system of exemptions was moat pernicious . In applying this doctrine to the income and Property Tax , there was one exemption he was bound
to notice , —namely , Ireland . Wlien Sir It . Peel , in 1812 , first introduced this tax , he exempted Ireland , upon the ground that sho contributed in another form , in duties of an amount , equivalent to the tax , which duties , however , bad since been repealed or bad fallen off- 11 was impossible to be insensible of what ' Ireland had gone through ; but she was not now without a ray of hope ; her Poor Law expenditure bad diminished from 1 , 320 , 000 / . in lHfiO , to Hr > r > , OOO / . _ m 18 f > 2 . He did not think it wise to treat , Ireland with harshness , and say " You shall pay your quota ; " he did not , think it expedient , to throw any obstacle in tins way of her regeneration ; but , he still thought it Iun duty to extend the Income Tax : to funded propert y and salaries in Ireland . There was another principle with regard to this
tax to which the Government , was prepared to assent , - namely , distinguishing between permanent and precarious incomes . Viewing the tax , therefore , with reference to thcHe two principles namely , first , that , in constructing a direct tax , itshould be as general an an indirect , tax , and not , established upon a system of exemptions ; and . secondly , that a difference should be recognised between realized and precarious incomes , he would now Hlalo the rate of duty which the Government proposed to recommend . II . was not their intention to propone any increase in any of the schedules . They recommended that on all industrial incomes the point , of " exempt ion should be limited ! , o MM )/ , a-year , and on incomes arising from property to M ) L a-year ; that t . he rate oil Schedules A and C should be , as before , 7 < l . in tho pound ; in 15 , I ) , and 1 ) , r >\< L The amount , lie schedules 41 )()()/
calculated to receive under tho wan , « . )< J , < . ; the reduction of tho exemp tions lie took at . 400 , 000 /' ., and , adding the modest , sum of < SO , 0 ( M )/ . for Ireland , the total amount , of this tax would be 5 , 421 , <)( M )/ . It would be bis duty to lay before t . he I lounc a Nuppleinont . ary enfimato of expenditure for our national defencoH , which had nothing whatever to do with peace or war , and which vvus irrespective of any external circumstances . This object , would lead to mi expenditure in the next , year of
increase was at present nmch greater , he would not estimate it at more than ho bad said . The Stamps had greatly increased . He thought the surplus , on the 6 th April , instead of being , as he had estimated , 460 , 000 / ., would exceed that estimate by nearly 1 , 000 , 000 / ., amounting to between 1 , 300 , 000 / . and 1 , 400 , 000 / . The loss by the remission of the malt duty , which would not come into operation until October , 1853 , when a drawback must be paid upon the stock , in hand , lie took at 1 , 000 / . ; the reduction of the duty on tea to Is . 10 d . " , " at 400 , 000 / . ; the duty on hops would not affect the year 1853-54 ; tho extra estimates would be 600 , 000 / ., and the light duos 100 , 000 / . The total amount to be supplied was , therefore , 2 , 100 , 000 / . It was his dutv ,
therefore , to propose some addition to the revenue of the country . He would not lay it on the Customs , or on any source of indirect taxation . He was not going to propose a new tax , but to ask the House to consider an existing tax , and apply to it the principles they had supported—namely tho present arrangement of " the house tax . This wa a direct tax , but it was remarkable for all the features by which direct taxation ought not to be distinguished . Its operation was limited to houses of 20 / . a-year . He proposed to reduce the limitation to 10 Z . a-ycar . At present private houses paid 9 d . and shops 6 d . He proposed that
the former should pay Is . Od ., and tho latter Is . The amount of the tax would then be 150 , 000 / . less than the window duty . He would have half a year ' s income tax , 2 , 500 , 000 / ., to meet the extra expenditure of 2 , 100 , 000 / . In 1854-55 there would be a loss arising from the various remissions , which , with 000 . 000 / ., the increased estimates , would make 3 , 087 , 000 / . ; while the ways and means would amount to 3 , 51 O , O ( X )? . In conclusion , he maintained that the policy he had developed was one which he believed would promote the welfare of the people of this country , founded as it was upon sound principles of finance .
A conversation , rather than a discussion , ensued , in which Mr . GcnrLBUinsr , Lord J . Russell , Mr . Hume , Mr . Labouchere , Sir C . Wood , and other members took part , and various explanations were given by the Chancellor of the Exchequer . The resolutions before the Committee were agreed to ; the House resumed , and , after some other business , adjourned at a quarter past eleven o'clock until Monday .
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Had it been possible for the Chancellor of the Exchequer to surprise the House of Commons , he would certainly have done so last night by a financial statement which Peel himself would only have ventured on under tl e most encouraging circumstances , and in one of his mos-t exuberant moods . Brit for some recollections , which it is impossible wholly to suppress , we might say that , so far as concerns the annual ceremony of the Budget , Mr . Disraeli has entirely filled up the lamentable gap left by the most illustrious of his recent predecessors . Without committing ourselves at once to every item in
the long and weighty catalogue of financial reforms now before us , we must say that the Chancellor of the Exchequer not only takes advantage of his position with the dexterity of a master , but lms really . succeeded in showing that a new position , new resources , and new capabilities are before us . He has done much to remove that almost oppressive feeling which for the last two or three years has been creeping over the energies of tho country , that we had pretty well got to the end of our tether , and , like the Arctic discoverers , had cni'ried our political inquiries to the ; List limits ol ' utility and discretion . —Times of this day .
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The long-promised Hudget has at last been opened , and it fully deserves the character its author seemed desirous it should enjoy . It is , indeed , a bold Budget . As might bo supposed , a large audience assembled on the occasion , and the House of Commons was not only unusually full , but was also unusually quiet , and with marvellous patience listened for more than live hours to the level , clear , and interesting , but very uiidecorafed discourse of the Chancellor of the Kxchequer . — Dallu Ncw . s .
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Mr . Oukes lias beaten JNlr . Hardcant . le , at . Bury SI . Edmunds by eight majority . Lord Krankfort , has been sent , to the 1 louse of Correction for twelve months , for circulating papers defamatory of the character of Lord Henry Lennox and ot hers . Wear Admiral the Hon . Sir Kleetwood itroughtoii Reynolds l ' ellew , C . U ., K . C . H ., has accepted the command in chief of t . he I'last , India . station , vice Rear Admiral A u . sten , ( ! . H ., deceased . The gallant , admiral in hoii of the laic distinguished admiral Lord Kxmouth . The following from the Hague was received yenlerduy by electric telegraph at 1 ' a . ris : " The Minister ol' Finance has announced for this week the presentation of a bill for the eonvci'Hion of the Kour per Cents . " M . AbbafLucei and ( ionend Carrelet . are created senators . Caotnins Odet , IVIIion and Lugeol , commanding the NtntofcoH , are made Kear-Admirnln .
A special meeting of I . be council of the Association for promoting a ( 'heap and uniform nynloin of Colonial and I ntcrmilioMnl I ' ontage , w ; im held on 'Thursday at , the house of the Society of Arts , in Ihe Adclphi ; Lord ( jranvillo , the president , of the An . socin . 1 . ion , in the chair . H ]> f ) it > i ' ii iiiizoltr ( IcclareH itself in a position to ntato Dial , the MTa . diai are to be liberated within a month from the time of Count . Arnim-Hlombui'g ' n dopurl . uni from Florence , and consequently to-morrow ( Int . i ) econibor ) or next . day .
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December 4 , 1852 . ] THE LEADER . * 1157
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Leader (1850-1860), Dec. 4, 1852, page 1157, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct1963/page/9/
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