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estimate which he had formed, Tea

20 although a considerable reduction Leather.

29 of taxes had taken place. Again, British Spirits

Malt

50

53 as to the year 1825 ;---the estimated Sugar

19 revenue was 51,975,000l. On ac Coffee..

43. count of the taxes remitted, and Tobacco.

13

Wine other causes, he had expected

88 Wool

44 that the loss upon the year's income would be somewhere about In the expense, too, of collecting 650,0001.; and get the aetual the revenue, a large saving had receipt, notwithstanding the losses been effected. In 1818 that exoccasioned by the commercial diffi- pense had amounted to 4,353,000l.; culties that began to be felt at the in 1825 it had been reduced to latter end of 1825, was upwards 3,832,0002., being a diminution of of 52,250,0001., being very con

more than half a million. siderably more than the original While taxation, and the cost of estimate founded

upon

the
assump-

collecting, had been thus diminishtion that there would be no ed, both the principal, and the reduction of taxes at all. The yearly charge, of the debt had result of all these statements was,

likewise been reduced. On the that,

5th of January, 1823, the funded,

debt amounted to 796,530,000l.; The estimated amount of revenue for on the 5th of January, 1826, the last three years taken together, the funded debt was reduced

155,440,500 The actual receipts for the

to 778,128,000l., being a reduction, same period ..... 156,838,500 in the three years, of 18,401,000l. ;;

or at the rate, in each year, of Exceeding the Estimate

6,133,000l. On the 5th of Jan. therefore by

1,398,000

1823, the unfunded debt was And yet, during these three years, 36,281,000l. ; on the 5th of Jan. taxes to the amount of no less than 1826, it was only 31,703,000l. ; eight millions had been repealed. being a reduction of 4,577,0001. Thus, even more than what had The reduction in the total charge been promised, had been performed; of the debt, is the true way of and it had been distinctly proved estimating the real reduction that the reduction of duties on

effected in the burdens of the articles of consumption had raised country, rather than by looking the produce of such duties by in- only at the reduction in the capital creasing that consumption, and had of the debt. Now on the 5th of thus kept up the revenue, while it Jan. 1823, the charge on the added largely to the comforts of funded debt was 28,123,000l. : on the people. The increase of con

the 5th of Jan. 1826, it was only sumption in different articles in 27,117,000l. ; being a reduction of 1825, as compared with 1816, was 1,107,0001. On the 5th January, various, but it was uniform. Some 1823, the interest on Exchequer, of them were as follows:

bills was 1,100,000l.; on 5th Jan.

1826, it was 800,0001. ; being a On the consumption of

reduction of 300,0001. Taking Beer, the increase in 1825 was ... 161 Candles

36 both together, the charge on the Paper

funded and unfunded.debt was on

per cent.

year 1816 of

In the year 1825 the following man in the kingdom could never Duties were repealed :

have had the confidence to an

ticipate. In 1823, upon an estiRemainder of the Salt, about

£200,000 mate founded on the basis of Hemp

100,000 the revenue of the preceding year, Coffee, &c.

150,000 he had assumed that the customs, Wine

900,000 the excise, the stamp duties, the British Spirits and Rum 1,250,000 Cyder

20,000 post office, the assessed taxes, for Assessed Taxes

276,004 England and Ireland, and sundry Customs on various minor

miscellaneous items, taken together, branches of Commerce,

would produce an income of about 'amounting in all to 250,000 52,200,0001. The taxes repealed Total repealed in 1825

3,146,000

in the course of that session So that the total of taxes

amounted to about 3,200,000l. repealed from 1816 to

During the period of the same 1825, amounts to the sum

session, he had calculated that there of .

£.30,712,000

would be a loss to the revenue of From which must be deducted the amount of

1,500,0001. arising from various Taxes imposed in 1819.. 3,190,000 causes ; so that, in point of fact,

the calculation would have been Leaving therefore a total re

entirely verified, if the receipts for mission of Taxes since the

£.27,522,000

1823 had been 1,500,000l. less than

52,200,0001. Now the actual reWhile twenty-seven millions of ceipts of the year were 52,018,0001., taxes had thus been reduced, that being less than the sum at which reduction, so far from affecting he had estimated them previously, the revenue of the country, and and less, let it be observed, notdiminishing the productiveness of withstanding the amount of taxes its various branches, had, in fact, repealed in that year, by the sum given to them new energy, and of 182,000l. only. In regard to justified every anticipation. He the year 1823, therefore, no expecthad been accused, he said, of utter- ations had been held out, which ing promises of prosperity which were not amply fulfilled. In the had not been fulfilled, and hold- following year, the revenue which ing out prospects of increasing re- he had anticipated upon the same sources which had ended in dis- items, was 51,265,0001. He had appointment; but the results of proposed the repeal of taxes during the last three years, 1823, 1824, that twelvemonth to a very con and 1825, would sufficiently shew, siderable amount, and calculated that he had erred neither in his that the amount of loss, which the calculations, nor in the facts and revenue would sustain that year, principles on which they were made. would be 530,000l. But the actual A reference to the finance accounts produce of the year's receipts, notwould

prove, that, in respect of each withstanding such a reduction of of them, not only were the expecte taxes, was positively more than the ations which had been held out to original estimate ; for, the estimate the House in 1823 completely being 51,265,0001., the actual realized by the event, but that they produce was 53,562,0001 ; so that were absolutely exceeded in a - the actual produce of 1824 yielded degree which the most smguine very nearly 1,300,000l. above the

13

was ..

estimate which he had formed, Tea

20 although a considerable reduction Leather...

29 of taxes had taken place. Again, British Spirits

Malt

50

53 as to the year 1825;---the estimated Sugar

19 revenue was 51,975,000l. On ac Coffee..

43 count of the taxes remitted, and Tobacco.. other

Wine he had expected

88 causes, Wool

44 that the loss upon the year's income would be somewhere about In the expense, too, of collecting 650,000l.; and yet the actual the revenue, a large saving had receipt, notwithstanding the losses been effected. In 1818 that exoccasioned by the commercial diffi- pense had amounted to 4,353,000l.; culties that began to be felt at the in 1825. it had been reduced to. latter end of 1825, was upwards 3,832,0001., being a diminution of of 52,250,0001., being very con

more than half a million. siderably more than the original While taxation, and the cost of estimate founded upon the assump- collecting, had been thus diminishtion that there would be no ed, both the principal, and the reduction of taxes at all. The yearly charge, of the debt had result of all these statements was,

likewise been reduced. On the that,

5th of January, 1828, the funded,

debt amounted to 796,530,000l.; The estimated amount of revenue for on the 5th of January, 1826, the last three years taken together, the funded debt was reduced

155,440,500 The actual receipts for the

to 778,128,000l., being a reduction, same period

156,838,500 in the three years, of 18,401,000l. ;.

or at the rate, in each year, of Exceeding the Estinate

6,133,0001. On the 5th of Jan. therefore by

1,398,000

1823, the unfunded debt was And yet, during these three years, 36,281,000l. ; on the 5th of Jan. taxes to the amount of no less than 1826, it was only 31,703,000l.; eight millions had been repealed. being a reduction of 4,577,000). Thus, even more than what had The reduction in the total charge been promised, had been performed; of the debt, is the true way of and it had been distinctly proved estimating the real reduction that the reduction of duties on

effected in the burdens of the articles of consumption had raised country, rather than by looking the produce of such duties by in- only at the reduction in the capital creasing that consumption, and had of the debt. Now on the 5th of thus kept up the revenue, while it Jan. 1823, the charge on the added largely to the comforts of funded debt was 28,123,000l

. : on the people. The increase of con

the 5th of Jan. 1826, it was only sumption in different articles in 27,117,000l. ; being a reduction of 1825, as compared with 1816, was 1,107,0001. On the 5th January, various, but it was uniform. Some 1823, the interest on Exchequer, of them were as follows:

bills was 1,100,000. ; on 5th Jan.

1826, it was 800,000l. ; being a On the consumption of

reduction of 300,000l. Taking Beer, the increase in 1825 was ... 161 Candles

both together, the charge on the Paper

funded and unfunded debt was on

per cent.

36

amounted to 3,135,000 lbs., and, notions, or theoretical reasonings, during the following three quarters they had availed themselves of the of that year, ending on 10th Oc- best attainable evidence on the tober, to no less than 3,431,122 lbs., subject. Foreign merchants, who being more than the importation had both gone to France, and come of the whole preceding year. The to this country to purchase goods, importation again, for the year and who, of course, were only inending 5th January, 1824, had terested to procure them on the been only 2,512,164 lbs. Nay, so best terms, declared, that the far was this spirit carried, that, in difference of price between goods February, 1825, there appeared in of equal quality, bought in France a Macclesfield newspaper, an ad- and England, was not more than vertisement to the following effect: 20, or 25 per cent. Others had To the overseers of the poor, stated that the difference did not and to families desirous of settling exceed 20 per cent, and, in articles in Macclesfield. Wanted between of silk hosiery, they would give 4,000 and 5,000 persons, between the preference to the English mathe

ages of seven and twenty-one nufacture both in quality and years.” Thus the manufacturers cheapness. On that occasion, the themselves held out the assurance manufacturers themselves had exof the trade being about to become pressed their conviction, that, with so prosperous, as to suggest a fa- proper guards, they could compete vourable opportunity for families successfully against the continent; to settle, and for the overseers of and those guards they explained the poor to put out parish ap- to be, a reduction of the duty on prentices. After such efforts to the raw material, and a protecting induce so many young persons to duty of 15 per cent. The former flock into Macclesfield, was it measure had been adopted ; and in wonderful that it should have been regard to the latter, the protecting soon found out that all this was duty had been fixed, not at 15 per extravagant, and most imprudent cent, but at 30 per cent. speculation, which speedily led to nufacturers had gotten more than its usual consequences ? or that the they asked, and no clamour could silk manufacture should not have be more unjust or contradictory been found to be an exception to than that which was now raised. the re-action and difficulty which In regard to the alleged infehad been felt so severely by every riority of England to France, in other branch of trade.

some parts of the requisite maIt was true that the bill of 1824 chinery, the fact, if it existed, proceeded upon the idea that a was a new proof of the necessity duty of 30 per cent on foreign silks of never returning to the system would afford sufficient protection of entire prohibition. From what to the home manufacturer; and it cause could that inferiority arise was likewise true that this idea in a country like this, in which was correct. The committee of every other branch of machinery the House of Lords had not pro- had been carried to the highest ceeded without the most cautious perfection ? It could only be acinvestigation ; instead of acting counted for by that system of proprecipitately, or founding their hibition, which, if it did not prerecommendations on pre-conceived vent, certainly did not encourage :

The ma

*

the application of learning and in- It would be an act of injustice to genuity to this branch of industry. the silk-weavers and their employWhy did the silk trade not enjoyers to excite in them fallacious the same advantages of machinery hopes by seeming to yield to their as the cotton-manufacture? because expectations; and, as the House the trade was not open. Hence evidently neither wished nor inhad arisen the long unimproved tended, that government should continuance of the old defective abandon the more liberal princilooms which were used in Coven- ples which had now been adopted as try. But even already, amid all the basis of the commercial policy of that had been said of the hopeless- the country, the wiser and more ness of endeavouring to meet con humane course was, by putting tinental competition, this mischief a negative on the motion, to close was disappearing, and only the the discussion for ever. necessity of proper exertion would ever make it disappear. Already

In the course of the debate, Mr. power looms had been erected in Huskisson mentioned the following cirManchester, each of which, with less jealousies entertained of foreign

cumstance, as illustrative of the groundthe attendance of one woman at manufactures. “A French manufacturer, 14s. a week, produced 108 yards of the name of de Pouillet, came over weekly. This made the cost of to England, established his looms, and the manufacture not more than British manufacturers openly stated,

commenced business. Forthwith the 3 d. a yard, while the cost of the that this establishment was nothing but same species of article in France a cover for smuggling foreign goods was 7d. a yard.

into the country.

My right hon. friend There being, therefore, no reason

(Mr. Grant) on being applied to, sent

for the parties, and put them upon their in principle or in fact, why the trial. He heard the charges advanced House should retrace its steps and by the British manufacturers, and then return to the former system of he had the opposite party called in. universal prohibition, still less And what did this indignant foreigner could any good be obtained by foreigner, who had come over to this

say in reply to those charges-that farther delay, which was confessa country, where he had embarked and edly the only object of the motion. risked a large capital, from the knowTwo years had originally been ledge that here industry and talent allowed; and the experience of

were certain to be encouraged ? His immediate reply was,

66 send for my these two years shewed sufficiently books, you shall see them, and they what might be expected from shall be delivered to you for examinafarther procrastination.

His books were accordingly had been employed, not in pre- brought, and his whole transactions paration, the purpose for which the revenue by this means ascertained

were minutely looked into. The officers of they were granted, but in im- the persons employed by him; they provident speculation. Much time went to the houses in which his men was yet to come, which, if properly were at work, and they found them employed, might be converted to they had been described in his books,

man for man, employed exactly as the best purposes; while, if further and upon the very pieces of silk that time were granted, the same argu were there set down. But the inquiry, ments would be again used, and a

in order to satisfy the British manusimilar attempt would be again made facturers, was prosecuted still farther.

Those manufacturers themselves were to postpone the execution of the called upon to select from among them measure to a still more distant day. those persons who had most skill and

They tion."

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