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CHAPTER IV.

FINANCE.-The Chancellor of the Exchequer makes his second Financial Statement for the Year, on the 5th of April-He explains at length the motives which had influenced him in making his Propositions to the House, and the subsequent modifications in his Plans—He proposes a total Repeal of the Window Tax in lieu of the Alteration before propounded, and retracts some of the boons to the Agricultural Interest which had been ungraciously received-The Budget meets with a more favourable reception than the former one. THE INCOME TAX.-Mr. Herries moves a Resolution directed to an alleviation of that Impost-He is answered by the Chancellor of the Exchequer-Speeches of Mr. Prinsep, Mr. F. Peel, Mr. T. Baring, Mr. J. Wilson, Sir R. Inglis, and other Members-Mr. Herries's Resolution is rejected on a division by 278 against 230-The Second Reading of the Income Tax Bill is opposed by Mr. Spooner and Mr. Muntz, but without effectOn the Bill going into Committee, Mr. Hume moves that the Grant be limited to one year, with the object of having the whole subject considered in a Select Committee-The Amendment is opposed by the Government, also by Mr. Cobden and Mr. Sidney Herbert-It is supported by Alderman Thompson, Mr. Miles, and Mr. Disraeli, and is carried by 244 to 230, amidst great cheering from the OppositionA few days afterwards, Lord John Russell declares the intention of the Government to acquiesce in the Amendment-Remarks of Mr. Disraeli-Mr. Hume experiences much difficulty in nominating a Select Committee on the Income Tax-Discussion as to the object of the Amendment, and the motives of those who had supported it-Remarks of Lord John Russell and Sir C. Wood-A Committee is at length nominated. PROTECTIONIST FINANCE.-On the 30th of June Mr. Disraeli moves certain Resolutions respecting the Financial Position and Prospects of the Country, and the Policy of the Government-His Speech-He is answered by the Chancellor of the Exchequer-Speeches of Mr. Newdegate, Mr. Labouchere, Mr. Hume, and other Members-The Resolutions are negatived by a majority of 113. ALTERATION OF DUTIES ON COFFEE AND TIMBER.-The former opposed by Mr. E. H. Stanley, but agreed to by the House-Mr. T. Baring moves a Resolution condemnatory of the Adulteration of Coffee by means of Chicory-The Motion is opposed by the Chancellor of the Exchequer, and rejected after a debate by 5 votes only-On a second attempt with the same view, Mr. T. Baring is outvoted by 199 to 122. MALT TAX.-Repeal of that Duty moved by Mr. Cayley-His Speech -He is supported by Mr. Disraeli and other Members of the Agricultural Party-The Chancellor of the Exchequer and Lord John Russell

resist the Motion, which is rejected by 258 to 122-Mr. Bass afterwards moves that the Malt Duty be reduced one-half-This also is negatived by the House-Mr. Frewen attempts a Repeal of the Hop Duty, but without success-Lord Naas twice defeats the Government on his Motion with respect to the mode of levying Duties on Homemade Spirits in Bond; and Lord Robert Grosvernor once, upon a Proposition for repealing the Attorney's Certificate Duty-The Chancellor of the Exchequer ultimately succeeds in reversing the decisions as to both.

WE

E have already described the very unfavourable reception that was given to the first financial statement of the Chancellor of the Exchequer, which, though not the avowed cause, was generally believed to have contributed in no small degree to the temporary abdication of the Whig Ministry. On their resumption of office, it followed, in accordance with the prevailing expectation, that the financial schemes of the Government underwent a reconsideration, and a remodelled budget was produced, which avoided some of the principal objections to the original propositions.

On the 5th of April Sir Charles Wood submitted his amended plans to the House. He began by saying that time had been afforded him to reconsider the proposals he had made to the House, and he had had the advantage of hearing the course of financial policy which Lord Stanley was prepared to pursue. The two proposals were before the country, which could decide which of the two was most conducive to the welfare of this great empire. He admitted that his proposals had not given general satisfaction, but he had been surprised at the manner in which they had been received in some quarters. The main demand made upon him had been for a remission of taxation to which he felt it impossible to accede con

sistently with the maintenance of public credit, and the establishments which were necessary for the welfare of the country. The all-pervading objection to his proposals was that he had thought it necessary to retain some margin of the surplus to meet sudden emergencies-a policy the wisdom of which had been verified by experience-and to maintain the public credit. He saw no reason to alter his estimate of financial receipts, or of the disposable surplus; with this surplus he did not attempt to effect any great operations, but in fact the great monopolies had been already destroyed. The principle which had actuated all his schemes was the desire to relieve and benefit the great mass of the population, Government being instituted for the benefit of the many and not of the few. It was for their sakes that he had supported the remission of the duties on corn, meat, foreign cattle, and foreign sugar. With the same view of cheapening their provisions and their clothing, he had advocated the reduction of duties on raw materials. There still remained one matter of vital importance to the poorer classestheir dwellings. It was with the view of improving their condition in these respects that the duty on bricks was abolished in the preceding session, and that it was now proposed to reduce the duty

CHAPTER IV.

FINANCE.-The Chancellor of the Exchequer makes his second Financial Statement for the Year, on the 5th of April-He explains at length the motives which had influenced him in making his Propositions to the House, and the subsequent modifications in his Plans-He proposes a total Repeal of the Window Tax in lieu of the Alteration before propounded, and retracts some of the boons to the Agricultural Interest which had been ungraciously received-The Budget meets with a more favourable reception than the former one. THE INCOME TAX.-Mr. Herries moves a Resolution directed to an alleviation of that Impost-He is answered by the Chancellor of the Exchequer-Speeches of Mr. Prinsep, Mr. F. Peel, Mr. T. Baring, Mr. J. Wilson, Sir R. Inglis, and other Members—Mr. Herries's Resolution is rejected on a division by 278 against 230-The Second Reading of the Income Tax Bill is opposed by Mr. Spooner and Mr. Muntz, but without effectOn the Bill going into Committee, Mr. Hume moves that the Grant be limited to one year, with the object of having the whole subject considered in a Select Committee-The Amendment is opposed by the Government, also by Mr. Cobden and Mr. Sidney Herbert-It is supported by Alderman Thompson, Mr. Miles, and Mr. Disraeli, and is carried by 244 to 230, amidst great cheering from the OppositionA few days afterwards, Lord John Russell declares the intention of the Government to acquiesce in the Amendment-Remarks of Mr. Disraeli-Mr. Hume experiences much difficulty in nominating a Select Committee on the Income Tax-Discussion as to the object of the Amendment, and the motives of those who had supported it-Remarks of Lord John Russell and Sir C. Wood-A Committee is at length nominated. PROTECTIONIST FINANCE.-On the 30th of June Mr. Disraeli moves certain Resolutions respecting the Financial Position and Prospects of the Country, and the Policy of the Government-His Speech-He is answered by the Chancellor of the Exchequer-Speeches of Mr. Newdegate, Mr. Labouchere, Mr. Hume, and other Members-The Resolutions are negatived by a majority of 113. ALTERATION OF DUTIES ON COFFEE AND TIMBER.-The former opposed by Mr. E. H. Stanley, but agreed to by the House-Mr. T. Baring moves a Resolution condemnatory of the Adulteration of Coffee by means of Chicory-The Motion is opposed by the Chancellor of the Exchequer, and rejected after a debate by 5 votes only-On a second attempt with the same view, Mr. T. Baring is outvoted by 199 to 122. MALT TAX.-Repeal of that Duty moved by Mr. Cayley-His Speech -He is supported by Mr. Disraeli and other Members of the Agricultural Party-The Chancellor of the Exchequer and Lord John Russell

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on foreign timber. So far as the country labourers were concerned, that relief might be deemed complete; but there was another class which still required consideration -he meant that part of the labouring population who were cooped up in dark and unwholesome dwellings in the towns. Sir C. Wood referred in some detail to the evidence which had been elieited by inquiries on this subject. It had been his endeavour, in his former propositions, to remove the evil so much complained of, and, so far as financial measures could effect that object, to improve the sanitary condition of the poor by allowing the free admission of light and air into their dwellings. This measure, at least, he still hoped to carry. Referring next to the subject of coffee, Sir C. Wood said that it was impossible to meet the incessant complaints made of its adulteration by sending an army of excisemen into all the grocers' shops, but he had proposed to meet the evil in the most legitimate way, by reducing the duty and cheapening the price of the imported article. With regard to the reductions of the local charges for lunatic asylums, and of the duty on agricultural seeds, so much objection had been made against them by those for whose benefit they were intended, that he should not attempt to force them upon parties who repudiated the favour.

Sir Charles Wood then proceeded to explain his intentions as to the Window Tax. A loud demand had been made on him for an unconditional repeal of the Window Tax: it was enough for him to answer, that the Window Duty was 1,856,000l., and the surplus 1,892,000l. What had been the language of the deputations who

had so urged him on this subject? Not that they came to ask a remission of pounds, shillings, and pence, but to ask the removal of a burden affecting the dwellings of the poor, and one which pressed unfairly on the assessment of houses. The principle of an uniform tax on old and new houses was undoubtedly the just one; but no uniform rate would give anything like equal relief. Sir Charles Wood therefore proposed to omit all reference to the number of windows

leaving it out of consideration what number of windows or openings there might be, and getting rid of every objection which could be stated upon sanitary grounds, and affording great relief to all or nearly all parties. "I propose to take a uniform rate of 9d. upon dwelling-houses, and 6d. upon those houses which contain shops. It will be remembered that I proposed before, as to new houses, that a duty of 1s. in the pound should be imposed upon dwelling-houses, and a lower rate of duty upon those dwelling-houses a portion of which was used as shops, or which were occupied by innkeepers, or used as farm-houses. Shops pay at present a lower rate, and I propose to continue that distinction. The duty which I shall propose will be an uniform rate upon all houses, old and new, of 9d. in the pound upon their annual value, and 6d. upon any house a part of which is a shop, or which is occupied by a victualler or held for the occupation of land. It will be remembered that I proposed to exempt from taxation altogether all houses not exceeding 201. in annual value; I propose to retain that exemption." In this way, they would get rid of all reference to windows in any shape whatsoever;

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