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the last few months there had been a considerable restoration of commercial confidence ; but , although he believed that the general condition of the country is sound , and althoug h there are indications of improvement , lie could not indulge the belief that there would be a rapid return to the spirit of enterprise . The expenditure for the vear 1858-9 , he thns estimated : — Funded and unfunded debt ... £ 28 , 400 , 000 Civil List , &c 1 , 900 , 000 Army ... ... 11 , 750 , 000 Navy 9 , 860 , 000 Miscellaneous Civil Services ... 7 , 000 , 000 Revenue Departments ... ... 4 , 700 , 000 Liabilities ... 3 , 500 , 000 £ 67 , 110 , 000 The resources to meet these charges he estimated as follows : — Customs £ 23 , 400 , 000 Excise 18 , 100 , 000 Stamps 7 , 550 , 000 Land and Assessed Tuxes ... 3 , 200 , 000 Property and Income tax ... G , 100 , 000 Post-office ... ... ... 3 , 200 , 000 Crown Lands ... ... ... 270 , 000 Miscellaneous ... 1 , 300 , 000 £ 63 , 120 , 000 There -would thus be a deficit of 3 , 990 , 000 / . This deficiency was not occasioned by any falling off in the resources of tbe country : it was created by our having to pay debts and by the amount caused by the cessation of taxes . The War Sinking Fund ( 1 , 500 , 000 / . ) , and the payment of 2 , 000 , 000 / . Exchequer Bonds , must come into the Calculation , Mr . Disraeli denounced as absurd and extravagant the attempt to pay off debt when there is no surplus revenue disposable for that purpose ; and Etated that he proposed to rescind , or at any rate to postpone , any further payments on account of the War Sinking Fund . " This would retrench a million and a half from the charges of the year , and would leave only two millions and a half of deficiency to be met . Respecting the two millions of Exchequer bonds , he intended to maintain the principle of liquidation , but suggested that the actual payment might be postponed for tiie present , provided that such arrangements were made as would ensure their being ultimately cancelled . The chief reduction of taxes had taken place in the Property and Income tax . The imposition of this tax had excited innumerable controversies ; endless complaints were urged against its injustice , which many vain attempts had been made to assuage ; and at length , in 1853 , a scheme had been adopted by Parliament for the gradual diminution and ultimate extinction of the impost at the end of a certain period . The war had since changed the circumstances of the country , both temporarily and permanentlv , by adding considerably to the public debt and
expenditure . Nevertheless , even in the face of a deficit , the Government did not intend to suggest any increase or suspension in the progressive diminution of this impost . There remained therefore n deficiency of 500 , 000 / . still to be met , and this object could not be accomplished by a retrenchment of expenditure . The present Ministry had cut down tho estimates by 800 , 000 / ., and further remissions could not be made in heat and baste , but must follow fnnn a changes in tho policy of the country and the gradual accomplishment of economical reforms . To obtain the required income , he proposed to cqualizo tho duties on Irish and Ilrilish spirits , abolishing tho only remaining dill'orentiul duty still existing in tho sister isle . From this source he anticipated a gain of at least half a million , thus extinguishing the deficit . It was , he conceived , still prudont to establish a surplus of
revenue , on which account ho thought a very moderate provision necessary , since large sums would become available for the service of the year through ropaymonts from the East India Company and tho Sardinian Government , and of moneys advanced for public works . Tho only now tax therefore- which ho should suggest was a small stamp duty of one penny on bunkers ' cheques , from which ho hoped to obtain at least 300 , 000 / , " Mr . Disraeli concluded by drawing a cheerful picture of the financial prospects of tho country next year ( -when ho anticipated that there would probably be a surplus revenue ) , and by expressing n hope that his statomont would receive , not only tho candid consideration , but in time tho cordial acceptance , of tlio House and of tho people . —Tho delivery of this speech occupied about two hours and a quarter . of
Considerable discussion ensued , in which several tho Irish mombora urged objections to tlio increased duty on tho spirits of their country , and Sir Geouoi : Counkwaj . t , Lkwis denied that there was anything fallacious in tho statoinont which ho present oil to tho House in X 9 gar 0 . to * tho-roUomption-oL > d . fi blU" ^ i ^ ' ^ i- ^|!^ U ! ii rcdoomod 2 , 000 , 000 / . of Exchequer IioikIh , niul ' 288 , ( 100 / . of Exchequer Uilln ; 250 , 000 / . had been rudecniod on tho wnr sinking fund , in addition to the ordinary sinking fund of 77 , a 0 a / . ; nml tho redemption of tho Sound Duos had coat 1 , 120 , 200 / ., making « total of it , 17 1 , ( J ( I 8 / . In addition to thin , tlioy had paid out of revenue- ( JUG , 000 / . for the Porslun expedition , ' 10 , 000 / , for tho Princess Royal ' s dowry , nml a mipploinontnry r"i » < 'f 1 | IIU' " million for militia expenses . Thoy hud also paid many oxponsea connoit d with the Indian mutiny . When all thoso facts were taken into consideration , ho hoped tho
C&mmittee would conclude that there was nothing fallacious or deceptive in the operations for the redemption of debt last year . With regard to the proposed postponement of the payment of Exchequer bonda , the operation was , in fact , the creation of a new debt . As respects the equalization of the spirit duties , he thought that the effect would be to the advantage of the Irish trade ; and he trusted that the right hon . gentleman would not consent to postpone the resolution , inasmuch as the delay would afford an opportunity for taking spirits out of bond , whereby the revenue would be diminished .
Mr . Gladstone ( who spoke from his old place below the gangway on the Ministerial side of the Hou 3 e ) was pleased to find that the Budget had met with general support . He thanked the Chancellor of the Exchequer for his attempt to equalize the spirit duties , and could not understand the opposition of the Irish members . It was a subject for congratulation that there was to be no augmentation of the income-tax . The difficulty experienced in extinguishing that tax resulted from the expenditure of the country being vastly increased apart from war obligations . This increase of expenditure had prevented the progress of a sj'stem of policy which had proved of immense value to all classes of the country . If they really intended to get rid of the income-tax , they should review their entire system of expenditure . —? vlr . Cardwei . t , supported the proposition for an
increased duty on spirits . He doubted the advisability of abolishing the income-tax at the time proposed , as they would then be in a deficit , and recommended an incometax of twopence in the pound . —Mr . Williams thought that increasing a debt in a time of profound peace was most objectionable and unjustifiable . He congratulated the Chancellor of the Exchequer on the manner in which he had got over his difficulty this j'ear . QLaug / ite ? : ' )—Sir Francis Baring said he concurred in the opinion of the right hon . member for Oxford , that the only hope of getting rid of the income-tax is by a careful revision of expenditure . —Lord John Russell thought the Government had proposed reductions as large as the circumstances of the country would at present allow . He was in favour of the equalization of the duty on spirits . As to the war debt , he thought that a portion of it should be paid off this year .
The Chancellor of the Exchequer thanked the House for the candid reception it had given to his statement , and replied to various objections that had been made in the course of the debate . Resolutions embodying the principles of the financial statement were then put and agreed to . —On the resolution with regard to tbe stamp upon cheques , Mr . Wilson said that this was a resolution which was not subject to those financial necessities which attached to the duty on spirits . He would therefore venture to ask the Government not to press it through at once . —The Chancellor
ok this Exchequer : " Certainly not , if there is any objection . "—The resolution was then withdrawn . — In answer to Sir II . Willoughby , tho Chancellor op the Exchequer said he intended , when the business of the House would permit , to call attention to the whole subject of tho accouut and appropriation of public moneys . ( Cheers . ) He would then state what were the measures which the Government intended to bring forward on tho subject generally , and what arrangements it was proposed to niako with regard to Exchequer Bills . The House resumed , and tho Chairman reported
progress . LORD IIOWOEN . Sir De Lacy Evans called tho attention of the House to the recal of Lord Ilowden . That act had caused great regret in Spain among all parties , and as no reason was assigned for tho proceeding , it had given rise to a fear that the present Government meant to act towards Spain on less liberal principles than preceding Governments had dono . —Mr . Seymour Fitzgkrald denied that thuie existed the slightest ground for suoh an inference , and ho questioned tho right of the House to interfere in Unit which lies entirely within tho jurisdiction of the Crown , —Lord I ' almekmton boro testimony to tho zeal and ability of Lord Ilowden in tho discharge , of liis Government should
duties , and regretted that the present have scon reason to place tho interests of tho country in other hands . Still , ho ngreod that tho matter was not ono for the interference of tho House . —Mr . Kick also npoke highly of Lord Ilowden j and the subject then dropped . HVVVUY . Tho House having gono into Committee of Supply , tho following votes were ngreod to , after aomo diaiMiHHion : —2 , 000 , 00 Q / . to pay on' Exchequer bonds , duo in May , 1868 ; « 1 , G 7 L / . to complete the sum for wnges in tlio naval CNtablialimcnts abroad ; 797 , 742 / . to comploto tho sum for naval stores , purchase of steam nmiirfllTOnTnTWl-othov-puriioBOH-. ' ^ -tJl'lje-lIouBO . Uion-iieBumod . Tho Loan Socikthsh Bill was road a third time ,
and passed . OOVItRNMKNT OF TNDIA ( NO . 2 ) HILL . ( Mi the order for tho necond reading of tho Ministerial bill for tho Government of India , it was postponed until Friday . I'OOIt LAW AMItMnMBHT ACT . Mr . Chobh obtained leavo to bring In a bill to mnond tlio Act 60 George III ., oh . 12 , " to amend tho laws for tho relief of tho i > oor . "
The House adjourned at twenty minutes past twelve o ' clock . Tuesday , April 20 th . THE GOVERNMENT OF INDIA . In the House of Lords , Lord Monteagije inquired whether the Government intended to lay before the House the resolutions to be moved in the House of Commons relating to the reconstruction of the Government of India . In the case of the union with Ireland , and the renewal of the charter of the East India Company in 1833 , Parliament proceeded b y resolutions , which , were laid before both Houses simultaneously . —The Earl of Ellen borough stated that the Government did not intend to lay any resolutions on the subject before the House of Lords . He trusted they would be very shortly sent up from the other House , when their Lordships would have the opportunity of discussing them . The Customs Bill was read a third time , and passed .
BARREL-ORGANS . The Marquis of Westmeath presented a petition signed by upwards of four hundred householders in the districts of Belgravia and Pimlico against the nuisance of barrel-organs in the streets of the metropolis . It was a very hard case , when a gentleman of limited means had engaged a professor of music to give lessons to his daughter , to have one of these organs grinding beneath the window . The petitioners stood on their right to have the quiet of their homes maintained inviolate ; and , though noble Lords might laugh , it seemed to him to be . no laughing matter . —Lord Dungannon rebuked the Marquis for making " much ado about nothing . " It wasunseemly and inopportune to take up their Lordships ' time on such a trifling subject . —The petition was ordered to be laid on the table .
TRANSACTION OF BUSINESS . On the motion of Lord Redesdale , it was ordered that no bill be read a second time after the 27 th of July , except bills of Supply , or such bills as the House may specially exempt from the order . Their Lordships then adjourned .
LAW OF BANKRUPTCY . In the House of Coxlmons , in reply to Mr . Glyn , the Attorney-General said he had been charged by the Lord Chancellor to prepare a bill for the amendment of the law of bankruptcy and insolvency . The bill was in an advanced state of preparation , and he expected that it would be in a condition to lay before the House of Lords by the end of next week or the beginning of the following week . THE MILITIA . In answer to Captain O'Connell , the Chancellor of the Exchequer stated that , on the disembodiment of the militia , subalterns -would receive six months' pay , the surgeon and assistant-sivrgeon ono year ' s pay , and the paymaster would continue his pay for three months after the disembodiment , and would also receive three months' pay after the final settlement .
THE NEW ZEALAND LOAN GUARANTEE ; COMMITTEE . Lord Stanley , in replying to Sir John Trelawny , said that he had examined the minutes of the House of Representatives of New Zealand , and found that a resolution was passed providing for the contingency of a loan of only 200 , 000 / . being granted . The resolution bore date the 2 nd July , 185 C . With respect to whether tho House of Representatives had negatived the proposal to accept 200 , 000 / . iustoad of 500 , 000 / ., ho was bound to say that there was no trace of such A nroceadiug in the Records of the Colonial-office .
JDUULIN l'OKT MUK 8 . Mr . Vance moved for a select committee to consider certaiu duties on ships and other imposts leviable within the port of Dublin . The duties had been imposed for tho purpose of liquidating tho cost of a refuge harbour ; but he only wunted inquiry into the effect on the trade of Dublin . —Mr . Henlky admitted that tho mode of levying this tax wuh injurious to trade ; but there was an awkward element in the question—namely , that thcro had been u bargain . which involved tho interosta of tho Consolidated Fund . This was a matter which touched tho Chancellor of tho Exchequer , lie ( Mr , Henley ) did not object to « n inquiry . —Tho motion was supported by Mr . Gkouan . —The Chancellor of the ExcxiEQiuai said ho should opposo any attempt to relievo Dublin of the tux in qiiostioii . But , if the mode in which it wan levied wan injurious , lie liad no objection
to the grievance being remedied . Ho should not oppose tho committee . —Mr . J . D . Fitzoiikalu ( wliilo admitting thut tho question was so entangled that ho coald not understand it—an ignorance which ho boliovod was shared by nil prosont ) thought that Dublin had soino grievances to complain of , from which it should bo relieved —Mr . Lowe said tho Consolidated Fund had a oliUm , © u-tUoJj . wLMMlLJfcJUm \ &l ^ which it received yearly nboiit 8000 / ., or loss Hum ono pur cent .: and ho agreed that tho Chancellor of tho Exchequer was not proporly called upon to forego that receipt from tho port of Dublin . —Lord Pamwckston thought that tho commit too should bo restricted in tho manner suggested by tho Chancellor of tho Exchequer . —Aftor a l ' ow words in reply from Mr . Vance , tho resolution ( altered to nn inquiry into tho mode of lovying duties and other imposts on certain ships in the port ol Dublin , and whether any equivalent can bo provided foy
Untitled Article
No . 422 , April 24 , 1858 . ] _ T EL E LEADEJB . 387
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Citation
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Leader (1850-1860), April 24, 1858, page 387, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2240/page/3/
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