The Cambrian

—■■■iiiwiwiiniiiiiii TWMif J ii ■■mil IMPERIAL PARLIAMENT. HOUSE OF LORDS. WEDNESDAY, FEB. 9.—Their Lordships were occupied a very short time in the reading of three petitions for the repeal of the coal duties, and then adjourned. THURSDAY, FEB. 10.—THE UNION.-Earl Radlwr, in pre- senting two petitions in favour of the repeal of the Union, said he did so in conformity with his duty as a Member of the House, but at the same time would express his conviction that any separation of the present connexion between England and Ireland would be attended with serious consequences to both countries, and ruin to the latter.—The Marquess of Londonderry expressed his warm admiration of the sentiments of the Noble Earl, and his approba- tion of the energetic measures of the Lord Lieutenant in meeting with firmness the atrocious and monstrous proceedings which had been taken to disturb the common tranquillity.- Ordered to be laid on the table. TITHEs.-Lord King again presented several tithe petitions, and renewed his attacks upon pluralities of livings, non-residence, and those parts of the system which he had on other occasions denounced as most objectionable.-The Marquess of Lansdmcne, the Earl of Winchilsea, and Lord Wynford, protested against the unfairness of these repeated attacks, pending a measure of the Archbishop of Canterbury for the correction of the evils of which the Noble Baron complained.—The Duke ofBltckinglwm agreed entirely in the uselessness of discussion without a particular ob- ject. He ascribed no motives to anyone-Hone to the Noble Baron. He would leave questions of religion to the private con- sideration of every one. He would interfere with no individual in that respect, and he also wished the Church Establishment to receive every amendment, if necessary. But he trusted that, when the question was brought forward, it would be discussed as property, not merely as affecting agriculture, but on broader ground, and with a view to the maintenance of what was an es- sential principle of all institutions, the existence of a Church Es- tablishment. The Noble Lord had said that the Church Estab- lishment was in danger. He should tell the Noble Baron that the Church had no reason to fear. If the Heads of the Church trembled for their property, it was high time for the Noble Baron himself to take into his consideration some plan for the security of his own.—The petitions were ordered to lie on the table. The Lord Chancellor begged to withdraw the motion of which he had given notice on a previous night, for the better adminis- tration of justice in the Court of Chancery, and in cases of bank- ruptcy he did so because a Noble and Learned Lord (Eldon), whose experience and assistance would much benefit the measure, was confined by indisposition, but was expected soon to get better. He (the Lord Chancellor) therefore wished to postpone his motion till Tuesday se'nnight. The motion was consequently withdrawn.—Adj. FRIDAY, FEB. 11.—The Earl of Shaftesbury presented a pe- tition from Gloucester, praying for a repeal of the duty on coals carried coastwise. The Earl of Carnarvon presented a petition from the magis- trates, landowners, &c., of a district in the county of Meath, against the granting of large pensions by the Crown, and praying for a revision of the pensions already granted and for a repeal of the assessed taxes. REFORM.— Lord Farmham, on presenting a petition for reform, did not wish to elicit from the Head of his Majesty's Government any premature detailed information respecting the plan to be sub- mitted by Ministers, but thought it necessary to institute a pre- vious inquiry into all the particulars relating to the subject, in order that their Lordships might be prepared for the duty of le- gislation, if any measure should happen to reach them from the other House of Parliament. It was not fit their Lordships should be left without any other information than they could collect from Newspapers, Magazines, Reviews, Red Books, or Black Books. He was anxious that a full and authentic account should be in their possession of the present state of the representation in every place which sent Members to Parliament, with the exception of the counties, where the mode of election was already suliiciently un derstood. "When the great variety of modes of election was con- sidered in the various cities and boroughs, the franchise depending upon the same circumstances in scarcely any two of them-here upon burgage tenure-there upon scot and lot-upon the freedom of a Corporation in another place—it must at once be seen how necessary it was that the House should be in possession of detailed information.—_E<M < Grey, in reply, said that his Majesty's Minis- ters, after the most mature consideration, and after availing them- selves of all the information to which they thought it necessary to resort, had determined with perfect unanimity to propose to Par- liament a distinct measure upon a subject which was forced upon them by the voice of the country, with a view to consolidate and strengthen the institutions of the State and restore the confidence of the community in the popular branch of the Legislature. Such measure would at an early period be introduced in the other House of Parliament, where only it could with propriety originate, and p ') would then be submitted to the discussion, and obtain, he hoped, the approbation of their Lordships. The Noble Lord had dis- claimed the intention of eliciting from him any premature disclo- sure of the details of the measure before the period arrived when it was to be submitted regularly to the Legislature lie should not object to give the Noble Lord any information which could be obtained without inconvenience, and did not appear likely to oc- casion delay. He did not, however, think that any information, in addition to that which thea- Lordships already possessed upon the subject was necessary.—The petition was then read and laid 011 the table. After the presentation of numerous other petitions, their Lord- ships adjourned to Monday.. HOUSE OF COMMONS. WEDNESDAY, FEB. 9.—A new writ was moved for Newark, in the room of Mr. Willoughby, vacated.—Theresotutlons re!ative to the duty on Barilla were brought up, and a bill ordered to be introduced.—The remainder of the evening was occupied in the presentation of petitions.—Mr. Hunt gave notice just before the House rose, that he should move an adjournment at twelve o'clock every night. THURSDAY, FEB. 10.—Petitions were presented for a General Fast, for the abolition of tithes, assessed taxes, and duties on coals, the extension of the elective franchise, for reform, retrenchment, repeal of the Corn Laws, and repeal of taxes on articles of con- sumption, and the substitution of a property tax. A petition from Mr. Ogilvie against the return of the Lord Ad- vocate for Scotland was received, and ordered to be taken into consideration the 22d of March. Mr. Hume, on presenting a petition from Messrs. Childs, prin- ters, of Bungay, Suffolk, against the renewal of the patent to the King's Printers, moved for the appointment of a Select Committee to inquire into the duties of the King's Printers in England, Scotland, and Ireland, the authority by which they are held, and how far the public interests are promoted by them.—Lord Nugent said that an inquiry had already been instituted by order of the Noble Chancellor of the Exchequer, and the subject to which that petition referred would form a portion of the attention of the Com- mittee employed on the inquiry. He had no doubt but the result of the inquiry would be that considerable reductions would take place, and the report would furnish the Hon. Gent. with some valuable information on the subject.— Agreed to.—Mr. Hume then proposed that on the Committee there should be a Member for Oxford, a Member for Cambridge, two Members for Scotland, and one Member for Ireland. The Committee was then appointed in accordance with the Hon Member's proposition, and the Lord Advocate for Scotland and Mr. Hunt were appointed Members. RlDEAU CANAL.- The Chancellor of the Exchequer, after post- poning his motion relative to Windsor Castle and Buckingham House, in consequence of the necessary papers not having been laid before the House, moved for a Select Committee to inquire aud report on the papers relative to the Rideau Canal. The ex- penditure had already exceeded the estimate by the sum of 572,0001. and as more money was required to complete it, he wished to submit the whole to a Committee. -A desultory conversation arose as to the policy of retaining or giving up the Canadas, and the motion was finally agreed to. Mr. Hunt moved for a copy of the regulations of Fisherton Gaol with a view to ascertain whether the practice has been for crimi- nal prisoners to see their attorneys or not, or whether the gaoler was bound to be informed of every transaction that passed between them.- -Mr. G. Lamb said, that the practice, if it existed, was wrong, and he was desirous that it should go out to the gaols, that the prisoners had a right to confer with their legal advisers in private.— On the understanding, therefore, that the practice would be done away with, Mr. Hunt withdrew his motion. GAME LAWS.—The Cltimcellorofthe Exchequer said he had ex- pressed his intention to support the Noble Lord (the Marquess of Chandos) in bringing in a Bill ou the subject of the Game Laws, but he had sinee found that he differed so much from the Noble Lord, that it was his intention to bring in a Bill himself. The Noble Lord therefore gave notice that lie should bring in the said Bill on Tuesday next. POOR SETTLEMENT.—Sir R. Bateson rose, on the motion for the further consideration of the Poor Settlement Bill, and pro- posed a clause to amend the clause making payment of 101 a year rent sufficient in all cases to entitle the party to a settlement.- After some discussion the Bill was re-committed.— Sir R. Bateson then adverted to frauds committed for the purpose of obtaining settlements by paying more rents for tenements than the real value. He moved, therefore, to add the words of the bona fide vallie," After a few observations from the Attorney-General, the amendment was withdrawn, and the clause agreed to.— The se- veral clauses having been agreed to, the Bill passed through the Committee. Lord Nugent postponed the second reading of the Labouring Poor Bill till to-morrow week. The Consolidated Post-Master-General Bill was read the third time and passed. FRIDAY, FEB. 11.—The petitions this evening were very nu- merous, embracing the following subjects :—Reform, tithes, re- peal ot assessed taxes; window duties, coal duties, and the Vestry Act, Inquiry into the State of the Church, and against Negro Slavery and the truck system. REPEAL OF THE UNION.On presenting a petition for the re- peal of the Union, Mr. OG. Mahott said, as his Majesty's Mi- nisters had declared for the shedding of blood, something must be done to tranquillise Ireland, or torrents of blood would flow. Some of the Magistrates of Ireland had already expressed their willingness to do so. Government had also sanctioned the pro- secution of the Hon. Member for Waterford (Mr. O'Connell), !ir he understood that prosecution was to be persevered in. (This announcement was received with loud and long-continued cheer- ing.) But if Mr. O'Comiell should, under an iniquitous, an un- constitutional and oppressive Act, be sent to a dungeon, what would be the consequence? Why seven millions and a half of his fellow-countrymen would enter the dungeon with the martyr to their cause (Loud laughter). He warned the Government to be cautious how they proceeded. [The Hon. Member was fre- quently called to order for the intemperance of his language,]— Lord Ebrington said it the conduct pursued by the Government towards Ireland was to be arrainged, it ought to be arrainged upon a special motion. He approved of the course.pursued by Government. He had aeard the declaration of the Chancellor of the Exchequer, and which had been adverted to by the Hon. Mem- ber for Clare, and he must say, that to whatever consequences that declaration led, he was full y prepared to bear an ample share of the responsibility. The Government had been driven to the course which they adopted. The repeal of the Act of Union would not only lead to the dismemberment of the empire, and the separation of Ireland from England, but it would also, and in the first place, occasion the misery and the destruction of Ireland, and in the next place that of England too. This was the view he took of the subject, and taking this view, he said with the Chancellor of the Exchequer, that, if driven to the dreadful alternative of a civil war, or the dismemberment of the empire, he would, much as he dreaded and abhorred it, take the former. He represented in that House a large body of constituents, and he should not be afraid or ashamed to meet those constituents, and if necessary to repeat and to justify the declaration which he had just made. He was also connected with Ireland—connected with it by strong and binding ties; and he would tell the Hon. Member for Clare that be should neither be afraid nor ashamed to make the same decla ration in that country.—The petition was ordered to lie on the table. THE BUDGET. The House, on the motion of the Chancellor of thz Exchequer, having resolved into Committee, his Lordship rose to explain the views of his Majesty's Ministers, in submitting the financial ar- rangements for the present year. The Noble Lord began by stat- ing that his Majesty's present Government, as soon as they en- tered on office, had zealously applied themselves to the task of ascertaining what reductions could be made in places and oilices, without detriment to the public service. He had previously mentioned some of these reductions, and would now read a list of the oaices which he proposed to abolish or reduce. They con- sisted of The office of Vice-Treasurer of Ireland, Lieutenant-General of the Ordnance, and Clerk of Delivery, also Auditor of the Civil List. The Treasurer of the Military College, and the Treasurer of the Military Asylum, an ollice in the Department of the Chan- cellor of the Exchequer, the Postmaster-General of Ireland, the Resident Surveyor, Resident Surgeon, the King's Stationer in Ireland and four Clerks, certain persons in the Privy Seal Office, in England; two Commissioners of the Navy, and two Commis- sioners of the Victualling Board the Superintendents of Trans- ports; the Paymaster of Marines, with his Establishment, con- sisting of seven persons seven persons in the different Dock- yards, at Salaries of from 001. to 6001. a year Inspector-General of Stamps; the Distributor of Stamps in Cumberland the Re- ceiver-General of Taxes in Scotland; 46 Receivers-General of Taxes in England the Husband of the Four and a Half per Cent. Duties; the Commissioner of Sequestrations at St. Domingo; the Paymaster of Sufterers and Dutch Officers. Having read the List the Noble Lord continued —Such were the offices which his Majesty's Government thought might be re- duced without injury. In the whole the List amounted to two hundred and ten places, which the Government, if assisted by the the Legislature, proposed during the present Session, if its pro- positions were agreed to, to abolish. His Noble Friend at the head of the Colonial Department had not yet been able to go through all the Colonies, but his Noble Friend felt certain that he should be able to effect considerable reductions in all our Colo- nial establishments. The Lord Chancellor, too, felt satisfied that, should his recommendations be approved of by the Legislature, he should be able to effect very considerable reductions. The Com- mittee would bear in mind, that in detailing these reductions he did not dwell upon them on the score of the great immediate sa- ving they would occasion to the country, because in most cases provision must be made for their present occupants, but he dwelt upon them rather as shewing how willing the Government was to part with patronage. He had said but a short time ago that the period had passed away when this country could be go- verned by a system of patronage; and he had lately been taunted with that declaration, and spoken of as the upholder of that very system which he had decried. To those taunts the statement which he now made was the reply. In entering on the more immediate object of the financial state- ment, the Noble Lord pursued the course usually followed on such occasions, by first stating the amount of supplies, and then detailing the ways and means to meet them. Though the esti- mates had not yet been alllaid before Parliament, he would take the charge for the year at 46,850,0007. The revenue for the last year was 50,060,000/. but making allowance for the taxes which had been repealed, lie would state it at 47,150,0091. The charge would thus absorb the income to within the trilling amount of about 300,000l.. This was running very near the mark, and al- lowed little room for reduction of taxation.—From absolute re- duction, therefore, no hope was entertained, but the Noble Lord expected great benefit to result from modifications of the existing system, from shifting the amount from one object to another, from relieving productive industry of its burdens, from abolishing those duties which press most on the poor and the labouring classes, and those which check or prevent the extension of manu- factures. The principles on which he proceeded in the plan which he submitted he acknowledged to have been borrowed from a work of the Hon. Member for the Queen's County (Sir H. Par- nell.) The Noble Lord went on to say that the same amount of taxation may. be more or less oppressive, according as it is im- posed with more or less judgment. He divided the taxes which he meant to change into three classes, namely, 1st, those which were not productive according to their rate, and the productive- ness of which might be increased by a diminution of the rate; 2dly, those which pressed upon manufacturing industry; and, 3dly, those which chiefly affected the poor and labouring portion of the community. The first tax which the Noble Lord proposed to modify was the duty on tobacco. The amount of duty at present levied was 3s. per pound on the tobacco as imported, and 9s. on the manu- factured article (snuff' or se^ars.) He proposed to reduce the first to Is. 6d. and the last to 4s. 6d. This alteration would have the good effect of checking the smuggling of tobacco in Ireland, while it would afford material relief to England, and to Ireland also, in which country tobacco was so much used. The amount of revenue derived from that tax was at present 2,800,0 W/. The loss to the revenue, however, would not be so much as the half, or 1,4oo,OOOl. for he calculated on such an increased consump- tion as would reduce the loss to 8'J0,000L Thus, while the relief extended to the consumers of the article would be 1,400,000/ the Exchequer would only su frer a diminution of income to the extent of 809,000/. Before he went further, or stated any of the other reductions which he contemplated, he felt desirous to say something upon a notice of motion of his respecting the growth of tobacco in Ire- land. He wished not to be understood. Although he did not purpose to prohibit the growth of tobacco in Ireland] yet he should propose that a tax should be imposed upon tobacco grown in that country similar in amount to the tax imposed upon foreign to- bacco introduced there. And he was inclined to make this pro- position because he did not think tobacco was an article which required peculiar protection or encouragement. It might be- come an article of great importance to the agriculturist, but he did not think he ought to endeavour to force a new product into importance and enlarged demand by giving to it peculiar protec- tion. He therefore proposed, that when a tax of Is. 6d. per Ih. was laid upon foreign tobacco, a tax to the same amount should be laid upon tobacco grown in Ireland, to be collected in seed time. Candidly speaking, he believed his proposition would have the effect ot prohibiting the growth of tobacco in Ireland, although it would not do so in terms. The next duty which he thought it useful to modify was the duty of stamps on newspapers and advertisements. At present the duty on each stamp was 4d., with a discount of 20 per cent. He proposed to make it 2d., without any discount. All adver- tisements at present paid a duty of 3s. 6d. and he proposed to re- duce it in this way every advertisement under ten lines to pay a duty of Is. • every advertisement exceeding ten lines but under twenty lines to pay a duty of 2s. and every advertisement ex- ceeding twenty lines to pav a duty of 2s. 6d. The saving to the public would be 199,0001., and the loss to the revenue he calcu- T 6 i 109,0001., the difference being made up, according to his Lordship's calculation, by an increase in the circulation of papers, and in the number of advertisements which the diminished rate was expected to produce. lie now came to a tax which had the double vice of pressing heavily on the poor, and discouraging manufacturing industry- namely, the duty on sea-borne coal. This he proposed entirely to abolish. It amonnted with a small duty on slate to 830,0001. The tax on tallow candles was particularly liable to objection, on more grounds than one. It took more money from the people than went into the Exchequer. It prevented the manufacture of candles at home, where it could be done cheapest, and made the consumer pay the manufacturer's profit. This tax he proposed to repeal altogether, which, besides the relief it will afford in di- minution of price, will also be felt as a great convenience in the country by enabling persons to make their own candles. Its amount was 420,0001. a year but in the present year, the reve- nue would not suffer to that extent, as he had yielded to the ad- vice of the manufacturers, not to let the abolition take effect for half a year (till October) in order that their stock might be consumed. The next tax which he would abolish was that on printed cot- tons, which brought only 500,0001. to the Exchequer, out of 2,000,0001. which it took in the first instance from the pockets of the manufacturers. Besides this objection, it pressed mostheavily on the poor, and had thus every vice which a tax could have. The last article of importance which the Noble Lord proposed to relieve of taxation was glass. The duty on this article was a most obnoxious impost. It discouraged industry-it prevented the extension of an important manufacture, for the increase of which this country affords every facility. The Noble Lord had no doubt that when the tax was abolished, our possession of the raw material, our possession of plenty of fuel, and the cheapness of labour in this country, would render glass all article of export. The produce of this tax was 600,0001. The Noble Lord men- tioned a variety of minor taxes not producing above2,0001. which he intended to abolish (including the auction duty on sale of land), amounting in the whole to 140,0001. The whole of these reductions would amount, in shape of relief to the country, to 4,080,0001. and would occasion to the revenue an estimated loss of 3,170,0001. But, continued his Lordship, as the revenue could not admit of this great deduction from its annual amount. It was necessary to provide substitutes for the impolitic or oppressive imposts of which he thus suggested the repeal. The Noble Lord for this purpose proposed to equalize the duties o-i all sorts of wine. The duty on French wines was at present 7s. 3d. per gallon that on Portugal 4s. lOd.; and on Cape 2s. 5d. He proposed to make one general duty on all wines Importedof as. 6d. per gallon. The number of gallons that were at present annually consumed amounts to 6,500,000 the duty levied on this quantity, at the rate which he proposed, would be 1,8-10,0001. the average receipt had only been 1,590,000/. He therefore estimated the increase at 240,0001. The next article from which he expected an increased revenue, from a modification of duty, was timber. European timber at present paid a tax of 45s. per load; and Canada only 5s. He pro- posed to make the former 40s., and the latter 10s. The increase from this sourse he estimated at ()')O,OOûl. Though he had pro- posed to abolish the duty on printed calicoes, yet he did not see the same objections to a duty on cotton which would affect, not one branch of the manufacture, but the whole. He proposed a penny a pound on all the cotton wool imported. From this he expected 500,O;)ûl. The Noble Lord proposed a duty on ex- ported coal, and a. tax on steam-boat passengers, at the rate of Is. per head for twenty miles, 2s. under thirty miles, and 2s. Gd. for all above. This would bring each 100,000l. The last source of revenue which he proposed as a compensa- tion for the redaction or repeal of objectionable duties which he Inul mentioned, was a tax on the transfer of landed and funded property. As to the former (continued the Noble Lord) I can- not see the propriety that there should be, as at present, a less tax on the sale of small estates than there is on larger ones I therefore intend to lay a tax of one-half per cent. on the transfer of all landed property. I do not see why the higher classes should not be taxed to the full extent of all others, neither do I see why the transfer of one kind of property should be taxed and not ano- ther I therefore propose a similar tax on all sales of the public funds. The tax that I mean to propose is 10s. upon every hun- dred pounds bona jida transfer stock. But, Sir, it is not my in- tention to tax the transfer of stock where it is only done for the purpose of giving security to raise a loan of money. I am aware, Sir, or the delicacy and difficulty attending the subject, but I do not think that there are any disadvantages equal to the benefit that will be derived, neither can I see for one moment that the House agreeing' to this proposition will affect the public credit, but I do think they will give general relief. Neither do I think that it is any infraction of the public faith consistent with the advantages that it would certainly bring to the country. It may be said, Sir, that this is only a beginning, bat we have the security thai we lay the same tax on land as we do on the funds. We do not tax lands to theexclusion of the funds, or the funds to the exclu- sion of the land on transfers of all descriptions of property the same tax will be levied. The House will bear in mind that I do not propose to tax the transfer of stock; when iUs only transferred as a security for a loan of money.. If I did, it would be a great inconvenience to the commercial world. I therefore give the pri- vilege of exception in such cases. It now, Sir, becomes me to state what I expect to derive from these taxes. From the tax on the transfer of landed and funded property, I calculate will be derived a sum of 1,200,000/. From the tax on transfer of stock about 800.000A, and from land somewhat under 500,000l. From the total amount of taxes that I propose to lay on, I ex- pect will produce a total ot 2,750,0001. Now, the revenue in the year 1830 amounted to 47,730,0001. The taxes I propose to reduce will amount to 3,170,0001" leaving the reduced revenue 44,560,0001., add to this the new taxes, amounting to 2,750,0001. it will then produce a revenue of 47,310,0001 which I calculate will leave a surplus of revenue over the expenses of the country of somewhat more than 450,0901. In making these alterations, I have consulted many gentlemen well versed on the subject, and their opinion coincides with mine—that the money interest will not like the change, but that the manufacturing interest will. Now, Sir, I consider this the greatest recommendation my plan could have. I consider that the taking off the taxes off cotton, coals, and glass, will very much increase the consumption of those articles. It may be thought a bold experiment but in my con- science I believe it will meet the interests of all, and I believe that the plan will succeed. At all events I have been guided by a wish for the prosperity and welfare of the country. Having thus detailed the leading features in the Noble Lord's statement, we give the following brief summary in figures of the whole arrangement:—■ £ I Income of 183!) .50,060,000 Deduct loss by taxes taken off 1830 2,910,000 Income left for 1831 4r, 150,000 Estimated expenditure of 1831 46,850,000 Surplus for 1831 300,000 Income for 1831, as above 47,150 ooo Arrears of Excise more in January, 1831, than in 1830 '580,000 T, 47,730,000 Deduct taxes taken ot fas estimated 3,170,000 44,560,000 Add taxes to be laid on 2 740 000 47,300,000 Deduct estimated expenditure for IS31 46,350,6(10 Surplus for 1831 £ 450,000 Taxes Reduced. Estimated Loss. tobacco 1,400,000 800,000 Newspapers J90,OIHJ. 100,000 Coals and Slate 830,(1)0. 830,000 Caudles 420,000 From October 200,000 Cottons 300,000.500,000 Ylas? 600,000 <J00,0i)0 Auctions 6>),i)00 60,000 Miscellaneous 80,000 80,000 £ 4,080,000 t3,170,000 Taxes Added. Wine 240,000 luubcr 600,000 Cotton 500,000 £ oaI* •• 100,000 £ t(:am 100,000 liansiers 1,200,000 rr, 2,740,000 taxation reduced 1,340,000 M. TVT t r £ 4,080,000 ye uorci concluded, amid loud cries of" Hear, hear with moving a proposition for granting to his Majesty a sum not exceeding two millions, as transfer of aids for the present year. Air. Goulburn lamented to hear the Noble Lord draw a dis- tinction between the moneyed and the manufacturing interests, which it had been the object of Parliament to unite. It had ever been the glory of that House, and of those who had the adminis- tration of the financial affairs of the country, to uphold and to maintain inviolate those contracts which had been entered into with the public credit. To maintain those contracts which had been entered into with persons who advanced money when the nation's necessities compelled it to borrow, and who by such an advance of their money had enabled the State to successfully con- tend against its difficulties in times of the greatest distress- when the very existence of the country seethed to be at stake- even then these contracts had been held sacred; and it was re- served for the present time, when there was no man who doubted the power and the elasticity of the resources of the country, when no man imagined that the country was not fully equal to meet and to overcome all the difficulties which for the moment depressed it, it was reserved to Ministers of the Crown in the present day to violate a solemn contract, and to iitipose a tax upon that property which the law had declared should not be so taxed. The law too, was expressly against the proposal of the Noble Lord, for it was provided by Act of Parliament, after de- scribing the mode in which contracts should be fulfilled, that no stamp duty whatever should at any time be charged upon the transfer of the said funds, any Act of Parliament to the contrary notwithstanding." This was the case, and as long as he had a voice to raise he would use it against so gross a breach of a so- lemn contract. How would it operate on institutions which the House had encouraged? The whole proceeds of the savings banks were lodged in the public funds; and there were four or five sales affecting individuals in these banks in one year. The effect of this tax must be completely to destroy those institutions. It would also affect those who lodged large sums in the funds for limited times. He thought those classes would be more injured by this tax than they would be benefitted by all the Noble Lord's reductions. The measure proposed to the Committee was a vio- lation of faith, and it was unjust, and like all unjust measures, it was impolitic, and he trusted it would meet with that condemna- tion and rejection which it so justly merited. Mr. Ward would oppose with the utmost determination the im- position of any tax on funded property. lJlr. Alderman Waithman thought, that there would be a great niany.difliculties in carrying into execution some of the intended measures, and was decidedly opposed to the transfer tax. fhr R. Peel trusted that the Noble Lord would re-consider this proposition for he deliberately declared, without indulging in anything like party prejudice or predilections, that if this propo- sition were carried, he considered it would seriously tarnish the fair fame of this country. It would be adopting that which had ever been resisted in this country, and disturbing that principle and public faith for which this country had been contradistin- guished from all other countries. If it were adopted now when there was no special pressure, would not the public creditor say, what security-was there for him against still further demands upon linn in violation of the contract? What might not be the consequences if there were to arrive any difficulties similar to those of 1797 and 1798 ? If there were to be such attacks in time of peace, what might not be the proceeding in the event of great difficulties occurring? In his estimation the present was not a question of policy, but of morals. If it were to be carried, he considered that there would be an end of public faith if'the public creditors were to be thus treated, they might as well at once shut up the Courts of Justice, He thought that the poor man would derive little abridgment of burden from the proposed reduction of taxation but, at all events, he would oppose most decidedly this tax on the transfer of property. Colonel Sibtlwrp Colonel Tyrrell, Colonel Wood, with other Mem- bers, regretted that the assessed taxes and the duty on malt had not been reduced, instead of the proposed reduction of the duty on tobacco. The latter observed, that the consumption of malt had not kept pace with the increase of population, which shewed that the duty was too high. If one fifth the duty on malt was taken off he did not think it would diminish the revenue. The repeal of the duty on coals was one of the greatest boons that could be given to the public the repeal of the duty on candles was also a great boon but he must deprecate the taxon funded property, as the country should strain every nerve to keep good faith with the public creditor. lWr. Beawnontexpressed his satisfaction at the measures pro- posed by the Chancellor of the Exchequer. The Resolution was then put from the chair' and agreed to. The House resumed, The Report was ordered to be brought up on Monday. On the motion of .Mr, Littleton, the Bill to prevent the payment of wages in goods was read a second time pro forma, and ordered to be printed. Mr, Wynn gave notice that he would move"the 'Army "Estimates on Friday next.—Adjourned.