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,\ TO CORRESPONDENTS.

SHALL WE BE TAXED BY THE LOIiDS…

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SHALL WE BE TAXED BY THE LOIiDS OR THE COMMONS. THIS is now the important question of the day. The Lords, by their actions, give an unhesitating affirmative to the question—the people as unhesitating a negative, while the House of Commons, on whom the decision rests, keeps for the time in mute hesitation and refuses to express an opinion on the sub- ject. I A few evenings ago, the Lords, stimulated by their success with the Repeal of the Pgfier Duties, came forth even more boldly in their attacks against the House of Com- mons. The case was as follows. One of the late bills passed by the House of Commons was an important finance measure known as the Savings' Bank and Briendly Societies Bill, having for its object the making a provision for the investment and security of the monies received by the Commissioners for the Reduction of the National Debt from Savings' Bauks and Friendly Societies." It is-based upon a resolution adopted in com- mittee of the whole House, endorsed by the chairman of committef-s, the Chancellor of the Exchequer, and the Secretary to the Treasury, and is intended to prevent an an- nual loss to the revenue of upwards of a hundred thousand a year, and which has, at present, amounted to something like three million pounds sterling. This object is to be effected by enabling the Government to invest in any description of public securities monies, which, by the acts now in force, can only be ir,vested in stock, which does not yield an interest equal to that. legally payable on these monies. Such is, in brief, this most important Bill, one of the very few ihat displays a decided bearing of the Government towards economy. In the Popular House it was met with con- siderable discussion, but no opposition, amendments were proposed and carried, and thc-l bill was finally passed as one £ j:ecessary frvbe passed ere the sessions closed." Ofhr reMers will sec at a glance that in form and spirit it is essentially a money bill —a measure of finance,—yet what has been th<^ result of its discussion by the Lords ? The "measure was brought forward, weigh'd. in the aristocratic balance, found wanting and. rejected I The result of the division, was eighteen for, and eighteen against. This was equal, but the- Lords have a rule, quite in keeping with their rules in general, that when such equality occurs a biil is thrown out. About as fair a mode of decision as it would be in a criminal case to enact, that if among twelve honest jurymen six were found to say guilty and six not, the prisoner must be hung. This is leaning to the side of mercy with a vengeance The country will now see whether the re- sult of the investigation made by the com- mittee of inquiry into the privik-ges of the House will produce any fruit. The resolu-