Newspaper of The New York Herald, April 17, 1842, Page 2

April 17, 1842 Tarihli The New York Herald Gazetesi Sayfa 2
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JNKW W)iK HKKALD * New f?rk| Sunday, April 17, 184:1. ' = -----r--:-? ? -rr= 1 hi Id volution In K IiimIc Itliinil. We give 'o-ilay several document? which give a * correct view id the mnvemen's now going on in j? Rhode I.-land?which many suppose wiliend in blood a and civil war?but which we are inclined rather to r imagine will be onlv p'enty of beer and black eye?, u It i# a cuiioud state of t.hugs however, and a lew J, <laya will determine the result The Sutlruge party j hold their election tomorrow, and the Charter ? - ( party on We<lii< mlsy j highly" important, ten days later : F 11 0 M E U R O P E. A11III V A1. OK THE SHERID11 Total Annihilation of the lirlMsli Army lit Aff^'lmiilntuii?Sh Thousand of the Soldier* Slaughtered?AInjor General Elphliitttoue and a Son ot Burns, the Poet, Massaered? Assassination of the British Amba**ndor to C'abool, Sir William SrSaghten?Twtlre Thousand Ilrltlsli Troops ordered to In. dla?Important \? %v* from Knt;land?Division on Peel's t orn IS 111?1Total Revolution of the Eiiianelal and t'oinnierelal Po. lley of Grent Britain ?N?'W TnrlflT?Property Tax?Sir Robert Peel*# Speech on the Subject, ?)fce. C?r. The Sheridan ariiv. d fn m Liverpool last evening. She sailed thence on ihe loth ult. Highly important iut?tlig"nce had reached England from IndiaAdvices from Bombty to February 1 states that Cabool has fallen, the whole British force there, am muting to six thmatnd men, annihilated; one entire British regiment, the 44th, erased at one fell swoop from the army S*, and five native regiments cut to pieces. The ladies of the envoy and the officers, sixteen in number, have been carried into captivity by the ruthless Atfghans. Sir Win. McNeaghtan.our envoy to Cabool,had been treacherously assassinated by a son of D ist Mahomed, his head cut off, paraded through the streets on a pole, and stack in derision on the walls of Cabool by the infuriated insurgents. Eight thoujaud troops were to leave England for India. The Cotton market was very heavy, but American fully supported last quotations. Lower kinds had declined. Money was abundant in London. Fluctuations in Consols limited. Wheat has declined Is. per quarter. Nothing later from China. Tiie Court, ?.Vc ?The Queen caused cards to be issued for a grand dinner at Buckingham Palace, March 11, on which day Her Majesty holds her first levee this season. ? The Prmce acdihe Royal Infants, as well as Her u'miuur i\> cui*jy CAtTiicui lirniin. It is worthy of remark, that at the present period there are thiee countries in Europe, the existing governments of which have just heen firmly established in power by the vote of their respective legislatures. We allude to Great Britain, France, and Spain, all near neighbors to each other. Sib Robe*t Peel's New Financial and Commercial Folicv ?In the House of Commons, March 11th, Sir Robert Feel brought forward his new scheme of finance. He shows a deficiency of ?10,000,000 in the revenue since 1837. And he proposes, to meet this, aud support two large wars, one in India and one in China, that a prop' rty tax be levied, terminable in three years, unless otherwise determined by Parliament, at the rate of 7d in the pound, or ?'2 ISi. Id. per cent, upon the property and the income of the country, exempting, however, all incomes which do not reach ?150 a year. For the levying of this tax in Great Britain the machinery already exists ; but the same remark does not apply tc Ireland Upon this and o<her gTonuds the minis'ry propose to exclude that country from its op ration, except so far as the incomes derivable from land, Arc. in Ireland are spent in England, when the ab-entee will lie taxed equally with the English landowner, thas holding out a bonus for landowners in Ireland to reside upon their properly in that couuiry. In consideration, however, of this exemption, the stamp duties levied in Ireland are to or rquaiiNcu i?i ?uiuc t;n?rs wuu uiiwr 01 ixrrai i)r 1- , tain, ami a staking additional is to be placed upon spirits, iiitki'iji tlie duty, at present 2s 8J. per gallon, equal to ilia charged in Scotland?viz , 3s. 8d. per gallon The nmount deritable from sianipi is estimated at ?lt> MMM, and from spirits ?2D0,0tK). It isfunher proposed to impose a duty of -It per ton upon all co.iIs exported front the united kingdom whether b> rue in foreign or in British bottoms. Now a duty o! -Is is piynble upon this article shipped in foreign vessels. Tlie operation of the reciprocity treaties ha?, however, decreased the productiveness of this dutv f rom ?50,000 a year in 1KJ1 to ?0,900 only in 1840, whilst Hie quantity of coals exported has increased from 350,04)0 tons in the former year to 1,307,000 in tbe la'ter. By reim posing the duly, and making it bear equally upon British and foreign shipping, it is expected that a duty will b.* derived of ?200,000 a y?.ir The entire produce of new taxes may be recapi. tuiated tin n as follows, viz: ? Income tax (in round numbers ?3,700 ()(W Mtsmp duties, Ireland 180 000 Spirit duties, Ireland 250 000 Export of coal 330,000 Total new taxes ?4 310,000 Deduct fr?m this umount the estimated deficiency of income as compared with es'imati d expenditure 9,370.000 And a surplus will remain of ?l,740,noo i applicable to reduction of duties by a re mod.fica- 1 tion of our commercial tantr, or to contingencies unforeseen. We coinc now to the reductions of duty proposed , hy Sir Robert P. el for the re lief of the producing and consuming classes Into this pRrt of the stib- i j?ct, however, we are not at present able to go serinlim, inasmuch as the details of the entire plan, comprising ? complete re-modification ol the existing commercial tiff, are not as yet brought before us. , We take, however, the chief heads of reduction as ( stated by the right lion- baronet. 1 In entering upon this modification of the tarifl the i com rnmeni prop,?-? s, "in the first instance, the re- I rnnval or relaxation ol al! duties of a prohibitory nature : and, secondly, a reduction of the duties upon I the raw materials for manufactures to a veryconsid- ] erable extern"?n - >me instance* retaining only a ( nominal duty for the purpose ot statistical nforrna- i lion, and in , . _ w i-i.-rs imposing more than five c percent, i it vilrt articles ol consutnpiion it is pro- t posed to reduce the duty upon 750 Upon the re- ? maining 4.V1 articles no alterations are to be made, ' except in some case* where the daties are on'y 4 retained at present to be made the sublet of future c modifications in tavor of countries with wh >m com- j * mercial treaties are pending. Among-t the duties ! 'j so in abeyance are those upon French wines brandy, <> fee , and the products ot Spain, Portugal, and South ,1 America. The amount of lost to the revenue from I e all these reductions is estimated at ?'270,0ttQ per an- | ? num. ? As a boon to the consuming classes and, to some I J extent, a propitiation to the demands of the It. axdian i and uuuan planters, u is proposed. in lite lirst m- : ( stance, to reduce the duty upon British colonial i coffee, from til. to II , Hnd to admit foreign coffee, i imported direct to this country, at a duty of SJ. per jb , instead of Is and Is. 3J , as paid at present tl ' imported direct, or ft J per lb. if sent round by the Cape- The loss to the revenue Irom this reduction is estimated at 1M70 000. Upon foreign timber Sir Robert propo?es that the duty should be reduced in the year IH|2lo l8|:ifrom Yes per load, the present duty upon square umber, to :?i, and upon deals to 35s per cubic foot, and lath wood, 20?; Mnd in the year 1^13 to llMI, to 25>., 39', and 2u*, respectively. Upon Canadian timber a corresponding reduction will be made from l(h , the present duty, to 1?. upon square timber, and 2t. on deals and lath wood. The proposition of the laie go verntnent with osprct to this ariicle, it may be remembered, was to rednce the duty upon foreign tint ber to IS), and to miu the duty (.') upon Canadian Umber from lift, to I.'m To liie consumer, to the Canadian, or to the British shipowner, we need not state which preposition is the moit favorable. By i hi* reduction the loss to the revenue i? estimated at XbOd.ntW a year It is next proposed to abolish altogether the duti- * levied upon exports of manufactured good*, wh.cli amount at present on woollens to per an num: upon I uen yarns to XlOtJO per annum; on silk, to 1M.HOO; on manufactured iron, to X2i,uou; ou imii other arucles, to X9 0W; oo fcr~ - lass Had earth-aware, to nod on provis- I uus, to ?5,200; nuking altogether ?S1,000, which. 1 dded to 'Hp duties on minor artiel-s, makes a total f jcjooOOOa vear of estimated loss to the revenue rom thissouree. To coua'etvail 'he advantages pisse?ied by rail i-ay compauii ? it is proposed to decrease the milege paid by proprietors of stage coaches to a uni* arm rate of ljjl per mile, to take off entirely the cs-essed taxes upon guards and coachmen, und to educe the pres* nt licens- duty of (i guineas to S uiness. Ii is proposed also t?i lake away the duty mposed upon the lettiag ot job carriages. By these eductions the loss to tlie revenue is estimated at C7t>,tHM) a year In connection with the equalization of the stamp luties in Ireland, previously mentioned, it is conemplated at the same time, to make some reduc ion upon those levied upon some articles in Great Britain. In par.icular. the duties upon policies of insurance are to be modified, lhe duty of 35s. upon charter parties to he reduced to5s , and the stamp of 8* u.ion a bill o' lafing to til. The t ll' i t of these reduction-, however, upon the revenue, is included in the sta'etnent, given above, of the effect of the proposed equalization in Ireland. The financial arrangement of Sir Robert Peel as a whole may be thus summed up :? Kitimatcl di ticii'ieney on prpfent income for the year ending >th April, IS13 ?i,570,000 Reduction on vurioui articles of tariff, aa row materials used in manufacturing,Sic. 270 000 Loss on coffee 170,000 Loss on timber 000,000 Repeal of export duties 100,000 Kepe 1 of duties on stage coaches, kc 70 000 ?3,780 000 Amount of new taxes, as detailed above... 4 310,000 Surplus ? 330,000 To meet increascd/Btimates for India, increased charge f.r China, and remission of duties on account of commercial treaties. SibRobs-ht Peel's Cohw imi'orratiojr Bill?In the House of Com i;onj, March 9th, the second reading of this bill look place. Sir It Peel said that tne fixed duty of the noble lord John Russell would not be a measure of justice to the agriculturalists, nor would it cive them the cxient of protection w hich he avowed himself leudy to concede. He denied that he had ever said that lie did not expect that this measure would give no relief to commercial manufacturing distress; what he had said wm, that he could not hold out a hope that it would lead to any material or immediate mitigation of the sufferings of the people He was of the same opinion still, aud considered if he held out great expectations of great and immediate relief from the change he proposed, that he should be practising a delu-iun, for lie did not tnink tbe distress was the result of the existing corn law, nnd he would not, therefore, be at once relieved oy us alteration. lie naa leu it is duty to frame a m-asnre which would lead to a practical result, and his success in so doing it was which had led to the dulnesa of their debates, forbad Ins measure been otherwise than practical they would have had much more vigor in their denouncements of his plan. The right hou. baronet then appealed to the house to say, w hat would be the consequence ol rejecting Ins measured The noble lord c< uld not carry his measure, nor could any other proposition ho had heard h >pe for more than a comparatively trivial support, and the result, therefore, would be to keep the question unsetth d, and the cauntry agitated upon a subject of such importance. He hoped, therefore, that as Iiis measure was a very considerable concession, the house would preserve the country from uch a state ol things by agreeing to the second readme of the bill Lord Worsley expressed his intention to vote against the second reading of the bill. The house divided. For Lord Etningtou'a amendment 176 For the second reiding 284 Majority 10S The hill was read a second time, aud.ordered to be committed on Friday next. Thapb a.m> Navigation.? Imports?From a corrected account ol the imports of the principal articles of foreign and colonial merchandise, of the consumption of such articles, and of the customs duties received tnereon, in the year ended Jdnuary 5, 18T2, compared with the imports, consumption, and receipts el the preceding year, it appears that the gross total amouat of duty received oil the above meniioned articles, in the year ended January ">, is 12, w.n ?83,608,184, being aa increase of .?140,007, ov> rttie amount received in Uie preceding year-? Parliamentary Paptr. Home of Commons. Friday, Miri k II.?In reply to a question from Mr. 8. Wurtley, reUtite to the rt:eent disasters in the Weft of Ind.a, Sir II Pkel stated tho amount of information which had been received liy the government,and which reached only to the 16,h of January. It waa impossible to deny that our troops hail met with a very aerioua reverie, and by an act of great perfidy and treachery, had been attacked on then way from Cabool, after ill capitulation. Still there was no cause for despair, and government would take immediate steps to remedy this partial dis aster, and he had no doubt but that parliament would give its support to whatever demand the government might (eel it necessary to make in consequence of what had taken place, in order that no exertions might be abated to maintain our India empire. Sir J.C. II i nitons. hoped this statement on tha part of I the government would tratiquilize the alarm which prevailed relative to tins disaster, which, however, he believed to he much exaggerated. The House having resolved itself into a committee of way s and meats, Sis Robert IYel rose to developn tha views of government upon the country's financial and commercial policy. He said, he ahvuld think himself unworthy of ait trust, if he could suffer the prospect before him ts dishearten his hopes or abate his alacrity. He would conceal nothing; tho first sli p to impi ovement in the itate of the country was tu look its ditliculties boldly in the face. He would take the responsibility of proposing What he thought in cosarv, and the house with whom wouhl rest the acceptance or r.jection of his proposal, should be furnisheU with all the information in his |iowei. lie had two i t quests to make of them. Speaking thus early in the session, he hoped, first, that allowance w ould he made tor * possible miscalculation in his est: mates; an), secondly, that gentlemen would suspend their judgment until he should have finished hii statement. when the w hole of the plan would be before them. The Chancellor of the Kxchequer had calculated the probable r> venue for the year ending April 1841, at ?48,310,out), and the probable expenditure at ?34,733,000, and thai calculation had proved to be very nearly accurate ; the actual result being only ? Io0,000 below that estimate of revenue, and a little?be knew not precisely how much?below the estimate cf expenditure. For the year ending April, 1843 the estimated revenue would be <48 >30, '00, the eitimiteil expenditure 160 810,000, and the const ipient deficiency <1 489 0 0. A forth/ r probable outlay must be provided fur iu respect of the war in China. Something must be made good for Australia, and something in Canade.; and a considerable addition must be made to the army estimates on ac count of the war in Afghanistan. The finances of India, too, required attention. If Indian credit were shaken, the credit of Knglaad would be affected ; and the present state of Indian finances was not a consolatory one. lie feared that the deficit thereupon iu'he two years ending next May would not he less than ?4,790.00.1. llow, then, were these deficiencies at home au I in India to be m- t? Should we persevere in the syitern of 'he last live years, the system of loans and exchequer bills, the system of permanent addition to our debt? Was there a prospect of any considerable reduction in expenditure? or was the present di fitiency an occasional one? No; it had been proceeding for the last six years. In such circumstances, he could not resort to the miserable expedient of continued ioans. When the post ath -e revenue was abandoned ?a surrender which he had disruaded?the pirliament which gave it up engaged to grant some other supply in its straJ. 3hould he then impiie a tnx on articles of consumption, on the necessaries of life ? lie could not cons> nt to place burdens upon i lie! I at oring el issi s; and if the house attempted that th-y would be defected The late government had promised an additional per rentage ef five per cent cn the rus'oms and excise, an 1 10 per cent, on the assessed axrs. In last year the additional acr rentage on the -ustomi and ex isr. instead of producing ?19 on each 611NI, had produc.d but about l()s.; but the per centage in the assessed taxes had produced considerable more ban the estim ited result of ?10 lor each ?1000, a new urvey, however, having been made for the purpose of the ncrease I a sacs assent. These facta proved that the coun ry had arrived at the limits of taxation on articles of ousumption. All these resources, then, being set aside, hould he revive oil taxes? Should he goack to the out obi ct ai pr--seui, new packet expense* being Mel,the pout oiflcr produced no revenue it all, but rather ccaslomd a charge; but he did not think the recent reuction had ye: a su tfieient trial to justify ns yet an inreate upon pastage. Should he revive the taxes upon alt ii|M>n li'ath<T. or upon wool T Upon the faith cf their holitioii contracts had been entered into, and nit, partiailarlv. had bet n applied to a variety of new purposes, tbonld he resort to locomotion for the purpoao of taxaion? He waa reluctant to tai the inrana ol transferring rotn place to place the labor of thoae whose labor waa hnr only capital Gaa light would fall within the same rab.gy ,a,?i ought to retain the same protection. After ridiculing the various suggestions ol people who were eonaUntlysending him projects fortaxeson pianofarteaor " ''"I'aa. arcompmied with claims of very large per i I?. proceeds, he came to the question, raiv>.i l y the Ut.< government, how far i' might t>e posu ( e to obtain in.-r.asod re\.-nue from diminished taxa I A.?.; . i r',so",r,> *1" fullest consideration had i SI*. "T inadequate to the immediate I Kt,. , y . ri'11* " "ion's revenue waa eventually in I "e?.edt,v diminished t station, might be quite true ; but I he firs effect was always a fall 0I that revenue, and a < long interval waa found ncc. s- .rv to re.tor- the amount. . This princ'ple was ,11,..rat. I by ? h? hi(1 htppen^ , wtth reapeet to wine tobaeco, coffee. hemp r?m ...gar, and other arti -b s. A mere reduction ol duties thVre t fore, would not sutftce to meet the present exigencies 1 and he wnul I now state what was the measure which' 1 under a <l,ep conviction of its necessity, h.- was p-e! i pared to propose, and which he waa persuaded would I benefit the country, not only in her pecuniary interests, j but in her security and her character. The right hon' bart.then proceeded as follows-.?Sir, I will now state ? hat is the measure which I propose fir the consideration >f the house; which I propose under the sense of tublic duty : nay. with the deep conviction that it is tecess.iry for the public interest, but with an equal con ricrion th it th" present sactifi -es which I call for to be nade will b-> amply compensated ultimately in a pecttnitry point of view but which w ill be more than comp.-n sted for the effect it u ill have in maintaining the public I'rdit and the ancient character of this country.? ''liters.) And it is my duty to propose that, instead of looking for taxation upon articles of consumption, in Mead of reviving taxes upon s alt oud sugar, it is my duty to make an earnest appeal to the possessors i f propeity ? (enthusiastic] cheers f.-om the i opposition)?for the purjiose of repairing this mighty evil (Continued cheer ing ) 1 propose,for a time to he limited?and 1 make the proposition as I said before I never occasion to make a proposition with a more powerful convictionthat it is one which the public inten st of this country re quires?(hear, henr)?I propose that,for a time to be limited, the income of this country shall be called upon to contribute a certain sum for the purpose of remedying this mighty and growing evil. (Cheers.) 1 propose that lilt lliwmr UI tmii uuutij U?U1<1 u i.iimi (I ? ceeding seven |>ence in the pound?(cheers)?not arr<ouut ing to three per cent., tmt to 2( ISa 41, for the purpose, not only of supplying the deficiency in the rev< nue, hut of enaMiug me , with confidence tnd satisfaction, to propose great commercial reforms?(loud and general cheering) which will, I think, make up lor the sacrifice?uhich will afford the hope of reviving commerce? [renewed cheers] and that improvement in manu factures which will soon re-act upon every other interest in the counTv, which,as I said before, in a narrow pecuniary poini of view, will, hy the diminished price of the articles of consumption, and the cost of living, he a compensation almost to every one for the pecuniary charge, and whicti,hy relieving you of the contempla tiou of those mighty public evils,' will more than compensate the possessors of property for the facrid -e. [Imaensi cheering.] Sir, there have been fotmer taxes upon income. In the year 1793, wlie i the prospects of this ceuntry were most gloomy, the minister of the day badthe courage to propose, and the people had the fortitude to hear, an income tax amounting to 10 per cent. In the v ea- 1803 that income tax was discontinued ; but after th rup a e of the.lpr t"e of Anieaens, a duty of & per cent was put upon property. In 1806 that duty was raisi d to 6] per cent, and in the year 1806 it was raised to in per cent. Now, I propose that .the duty to be impose I upon inccme should not exceed three per cent; that it si ohld, in point of fact, and speaking with peifect accuraey, be limited to 7d. in the pound, - ?1 18s. 4d. |>er cent. Formerly, when the income tax of ten per cent, was levied, only incomes of jCGO a year were exempt, and all incomes between ?60 and ?100 a year were subject to a rcductd rate of duly. 1 shall propose that from this income U\ nil incom sun. der XI.jO shall bo exempt. Under the fotmer income tax, in respect to that portion of the charge w hich was derived from the occupying tenant, the tenant in theoccupationol land.it w as estimated ut three fourths of the rent. It was udmitted, I believe, that that estimate was too h< Kb; that estimating the rate of profits at threefourths of the rent was an unreasonable estimate. 1 propose, therefore, that in respect to the occupying tenant, the ordination of land shall be , ctima-u.l a* half instead of three fourths. T his is the reduction that was contemplated in the year 1816 when Lord Bexley proposed the renewal of the tax 1 have every reason to believe that one-half would be a fair estimate I be. li. ve Lord Be ?ley intended to ctrry it further for a very short peiiod. 1 proporc to reduaeit from three fourths to ono.half ; and 1 believe the reduction to be perfc tly justifiable, rents having increased in reference to the value of land in that ratio which will m ke the dill", i ence (Hear, hear.) 1 propose?and I sec no ground for excejitioa?that all funded property,whether held by natirt i of this couutry or by loreigneta, ahull be subject to the charge to which 1 propose to subject other sources of income. [Hear.] Sir,that is the na'ure of the proposal which it is my mtenti in, with the full and unanimous coucurrenceol my colleagues?(lou t cheers)?an! w ith the d-epest conviction on their part that the measure is wise and necessary to make to the house. (C Beers.) Tnese are the main points of the proposition I intended to submit. Of course the house will call on me for so.ne estimate, the best I can frame, as to the probable pro.nice of this measure. I am sure that every gentleman knows how impossible it is to frame any d< Unite estimate, or to draw any certain conclusion on u subject of this nature; but I will give the house the best estimate I can frame, ami state, us clearly as I am nhle, the grounds on which 1 frame it. (Hear, hear.) In the year 1814, which is the last year to which we have respect, the income in Great Britain assets d to the propel ty tax was about ?173,00(1,000 The property on which that income was assessed was comprised in live different divisions or schedules. The schedule which was entitled by the letter A contained the property derived from land. It was divided into thiee classes?namely, the rent of land, the rent of houses and the rent derived from titni s, mines, quarries, canals, and other similar property. The property in respect of the rent ol' land assessed amoun'ed to 4.'39,4t)0,ii00. I am speaking of the year 1914 iThe rer.t of houses was ?I6,'70u,000. nnd the profits derived from tithes, mines, q nan u s.Scc. ?4 4"0,(H)? ?being a total of property derived from lands of 00,130,000/. Schedule B contained the rent of lands in respect to occupation by the occupying tenants. The amount of income on which the rate was asstued was 38,.06,000/. Schedule C contained the income derived from public funds auJ similar securities The amount was 311,000 IKIOf' Schedule D contained the profits of trades an 1 professions. The amount was 38 3in,0H0i. Schedule E theincomaol public ollicers, r.oiountii.g to 11,744.0001. 1 take schedule A first. As I said brlure. the aisessment upon the rent of land was 30 400 000/ Now I cannot doubt that the return of peace and the cessation of war prices must have had a consi tcrable effect in reducing the rent o! land. It may be said, you mutt take into account whatever eifeat was produced upan the rental of laud by the restoration of peace ; and i have no douht that for a considerable period the rental of and fall far short of the rental in the year 1814; but still, when I look at tk progress which agricultural improvement has made, and when 1 consider the effect of the ap filimt inn rtf trli nflo fft flto ttnltuso ?f 4k? l?_J *. , . - ..uvuiiuicm kuL* mmif i cunnoi but entertain an opinion that the present rental of land mult be equal to the rental in the year 1814. And, upon the whol*,it not being difficult to freme an estimate retting up >n a broad and staisfactory basis, 1 will assume t rental of land at present to be equal to what it wai in 1814?namely, 31.400,000(. The rent of houses in 1914 was 18,-480,0001.; and acting in concurrence with what appears to be the general opinion of the house, that it it right I should enter into this statement, I will givemy calculatiuni in respect to this subject, in the case of all tinauts deriving profits of less than 1301 per annum. On that account 1 must make a further reduction, to that upon the whole I cannotcalculate upon a greater amount of duty than 130,0001. fioin the occupyiug tenants. See what the elf ctof this will be; that, as 1 calculate the profits atouehalt of the rent, the tenant who possesses lest tbau 3001. will be exempted altogether, unlets in the case of those who may h.ive ether resourctt. I now come, sir, to sche lule C, which comprises the income derivable from the public funds aud public securitiea. The amount of capital assessed under this head in the year 1914 was 30,000,0001. per annum; the amount of dividends received and interest from the public funds for 1841 amouiitjjto 29 4CO OO J1. I cannot think thi re will lie a question but that 1 ought to deduct also the amount of duty which wauld appear to be payable en i ay ments made on account of the savings' banks. I must, therefore, make a deduc'ion of ?1 000,000 again, this not being a source of income assessable to a proper ty tax, thus leaving the amount assessable at ?29 IDO.oOO To that I must and the dividends on bank stuck, upon India stock, aim dividends upon foreign stock payable in this country ; and the tax upou these I tslimate at ?1,600 000, making a tot dl amount of very nearly 130,000,080 as the amount receivable in 1911. But, then again I have to apply a deduction in the exemption of persons having incomes of less than 1160 p r annum. I deduct onefourth on that account, and then the estimated produce of the tax derivable from the public funds will be 1646.noo. Sir, the schedule D, lathe yew 1914 contain* the income of profits cf tiaJts and profusions; and here I there is a great difficulty in fixing anr estimate, so as to I show accui aU'ly toe amount which may be available from thin source. I find that the total amount of import* and exports in the year 1814, as compared with the total exports and imports in 1S40, was in the ratio o: 18 to 133 ; hut I find that the declared val se of exports bears merely the ratio of 45 to At ; bnt.cn the other hand,! tind that the British shipping employed in 1814 was 1 POO,not) tons, whilst,in 1-41, it was ,4 -ill 1,000. 1 mast loria soni? estimate only, but still 1 oaunot think the profits from trades and professions, in the present year, can fall short Of 16,000,600. I deduct j one-fourth on account of exempted incomes, snd the produce on which I calculate is 11,33,5,000. Schedule E comprises the income of all public otfi cers. In the ye-ar 1841. the income of all public officers amount! d to the sum of 111,744 000. On account of great reductions which have subsequently taken piece in our establishments, a vary gnu: reduction must be made from the amount of incomes of public officers, and 1 think I cannot estimate it at more than 17,000,lHX), instead of 111,744,000. I must again deduct one fourth on account of persona as before stated, sxi mpted ftom the operation of this tax, leaving the nsjissment at 15 -350.000 ; and the produce of the tax w ill th> n ha 1155 000. I there fore r< capitulate the whole estimated amount of revenue on which I calculate as follows:? From a duty of 3 per cent on property tinder Sehe lule A, 1 calculate upon a revenue of 11,600,006 Sch dole U . . 180 0O0 Schedule C 6l6,?0o Schedule D 1,23",000 Schedule E 155,no# Making a to'al aggregate estimate of receipt of 13,771,000 (Hear, hi ar.) I will now state what are the views of her msjest) 'a government with respect to the duiaian of ini* impost, n inc proposition snomi meet with Ike sane tion of the house. Sir, t trust that parliament u ill cou firm this pi opoMtion, in order to give 111 a fair oppoitnni ty to carry out our experiment. (Hear, hear.) I do tiuit that parliament will not tie unwilling in case of uerenity. to continue the duration of thia tax to a period of fire yeara (Hear, hear.) But atill there may be, na there haa been before, and of which I do not deipair, thoae ret ivala of comneraial proaprrity, coupled with the measurr* wki.-h I am about to propoac, that may make parliament naturally anxioui to hive the opportunity of reconii b ring the subject at an earlier period than that which I have nnmed ;?they may wish to hare the opportunity, I say, to watch the operation of the tax at an earlier p.uiod than five years. And although I contemplate that, for the sake of upholJing the public interests of Ihn empire, this home would not hesitate to exten t the operation of this system to a period of ire yeara, ret 1 think it better to limit its duration to three yeara, in order to giro to parliament an opportunity to unction the experiment at the end of that period ? Sir I propone to name the loth of October next as the day an which the ftrst half-year's rerenur from these source* iliall be derivable. In case of war the right hon hart laid he should deem it real in ab'.e that Ireland should hear Iter proportion to the fax; hut during neaee, and for a limited period, and in the absence of all machinery in 1 r> land for collection, he should prefer to raise the .piota 1 if that country by other mean*. He thought herould do io consistently with the act ol union hy two modes, the < Irst of which would he a duty of Is per gallon on spirits. 1 I'he e<]tiiliration of the spirit duty in the three kingdoms I sou Id, on certain fiscal groun !s, [which lie explained] i ie of great advantage to the ration at large, and to Ire- ' i*nd In paiticular. For a long time the temperance ;>ladge in that country had been vary effectual; but Ihe t onsumption of spirits hnd of late been again upin the < ncreme H calculated from this source to rrceiva I ?Jan,imk. The other source to which ho looked in Ire < land w is the sttmp duty. from which he expected to re- I ceire gtttii.noo. In Great Britain, as wall as in Irclan'. ] he proposed to reducs the stamps upon charter parties *nd hills uf lading; it was hi* wi<h indeed, to s (fact the ^ ner.l c.palir stion of stamps throughout the kingdom, with rssweet to regular absentees from Ireland, having no cal. of public duty to fix them in Kngland, he proposed to rriiiiire from them the payment of the xame property tax which would be ri quirca from other resident* in this island. Sir Robert then eontinu d?Sir, there is one other tsx which I propose to impose. At present (here is ^ a duty imposed by law of 4? per ton ou coal sxportt d in foreign ships. At the time the duty was imposed the policy of tha law wii ofcounethe increase of the revenue, but there is no duty required on coal exported in Briti.li ships. Now,the obligation of the re -iprocity treaties has been to exempt foreign ships from the payment of the duty which it was intended to levy ou the export of eoal: hut I must say that I cannot conceivu any more legiti mite object on which to impove a reasonable and just duty than on coal exported. [Cheers ] Ifon an article produced in this couutty, the elemeutof manufactures, neoesiary for manutsctures, and contributing by its exportation to increase the competition of foreign manu factures with our own?[chvers]?it we can raise a rea suitable amount of dut\ by a tax ou British cosl exported to foreign countries, 1 think it will be perfectly legitimate to do so. [Cheers ] Sir, I think it is important to cousider the rap>d increase in the quantity of coal exported. In 1831, the quantity of coal cX| 0: t- d amounted to :i 6 Oo.itons, and the duty received was ?60,000. In 1833, the quantity exported wat 448 UOO torn, the duty ?61 710 In 1839, the quantity expotttd wai no lnsa than 1,19-4,000 tons,and in 1840 1,307,000 tons; but inalead of the large income of ?64 000, us in 1833, the total amount of duty was only ?6,900 [Hear, hear ] Now I do not propose to increase the duty on the export ol coal, but 1

do propose that the duty which it wat intended to levyon coal exported in foreign ships should be really levied ?that a duty of 4s per ton, the original amount of duty, should be levied on the export, whether in Britiah ship*, by impoiing the duty on British ships, and thus depriving foreign ships under the reciprocity system fiomeva ding the duty [Hear, bear.] If a duty of 4s. per ton should continue to be paid on theaame number of tone, I should fecure an income from this perfectly legitimate source ol 300.300, not an inconsiderable increase of revenue, and, operating as very few taxes do, to the encouragement of native industry. [Cheers] Now, sir, having stated to the house all the taxes I mean to impose, perhaps it may be convenient that I should shortly review the total amount. Of course I am speaking for tha year ending 6th April, 1813, as I propose that the new taxes should attach from the 6th April, 1844, There is only one exception Imustmake, which is on spirits, for if the house agree to my proposition with respect to spirits, in order to prevent the evasion of the tax I must propose to you to impose .t at the earliest possihle period 1 calculate to rereive from the income tax^of 7d in the pound, or ?-4 18. 41 per cent, (in round numbers) the sum of ?3 700,000; from the stamp duty in IielaDd I calculate to receive Xiii'VOOO; from spirits ?-450,( 00; from the export ol coal 9e0,000?m iking a total amount of revenue receivable from new imposts of 14,38,1000. (Hoar, bear.) Then if 1 deduct from thia inn the estimated deficiency for which 1 must provide ,by actu.il votes of 1-9,670,000, there will be left a surplus of 1 1 830,000. But the house must r< member that deficiency arises on the votes for the year, and that I have to add to it the excess of exp nditureon the Chinese expedition?which 1 cannt-t estimate at less than 1800,000; but I shall not have to provide for that. Whateve r measures the provision for in<iis may require us to adopt during the present year will also operate as a reduction from that estimate, but for the present, with these reserves and exceptions, 1 compute an excess of 1 1,8!?0,000, after deducting the excess of expenditure, Jon account of actual votes. The surplus, Sir Robert said, he proposed to apply in relaxing the commercial tariff He had considered, on each of the numerous articles included, the iroportion b tween the price and the duty. His main principles had been removal of prohibition and re (luction in the duties upon ratv materials. He would also considerably diminish the duties upon articles par tially manufactured; and even upon complete manufactures he contemplated that the maximum should rot in general exceed 3d percent. He would forthwith lay upon the table this amended scale of duties, which bad been distiibuted into 20 different heads, and on Monday the paper would be ready for distribution. It would be found that in about 750 articles there had been an abatement of duty recommended, and that on about 450 the duty h d been leA u..touched. Treaties were uow pending with various nations, in which several of these articles were the subjects of discussion, and such articles, ol course, could not be included in the present reduc tions. The total diminution of revenue occasioned by allthe reductions would probably not ba more than about 1.27,000. Sir Robert then said, I now address myself to the reduction of duties oil great article* of consumption, the chief of which in colonial and foreign produce ?indi pendently of brandy and wines?are three, nely,sugar, cjffej, and timber. Wuh respect to sugar, I wish it were in my power to state that it was within the means of the nation, or consistent with what her Majesty 's government deems the bounds of prudence, for me to propose any alteration in the duties on foreign sugars. I cannot say that if wo were in no way embar raised with questions incidental to, and springing direct !y out of, that consideration, great ameliorations and advantages would n it result,not from the alt-rations which the right lion.gentleman O Jim site [Mr. F B.iri -g]h d proposed io ra.ike in the mode ol levying the duty on sugars. as well as iu the amount of those duties, but from a reduction in the duty on lugais the produce of the Brit i?h co'oni ) possessions; a reduction, moreover, which would admit of those sugaia st atsinii g a fair and con ?t?t competition with sugars the growth of foreign possessions. Bit. 1 cannot coiiacnt; nor can those who arc associated with me In the conduct of the government, to permit of any access being atforded to the sugars of the Brazils and ol Cuba, as well as of other ceuntries, without making some effort for the purpose of patting an end toths practice of slavery in those countries. [Hear, hesr ] And in considering this question, it has occurred tome to consider whether it is politic in us to advise the House to assent to a reduction of duty on the produce of British colonial sugata, without proposing also that a corresponding reduction he made in the sugars which come from foreign possessions, and I doubt very much whether it woula be|advisible to take such a step, If, indeed, there were a free competition in the market then 1 have no hesitation in saying that I believe such a course would be greatly to the advantage of the Wait India proprietor, who would be encouraged in tho S reduction of hie sugars by a reduction ol the duty ; ut so long os thera exists what cannot but lie regarded as a monopoly ofthe sugar grown by the West India and the British possessions, within the limits of the compa l.) m cimrior? l uit-ru iuc uiiuiiuut anil isillisn 111(113?10 long I am afraid that no remission of duty which I could propose in favor of British colonial sugars would even if agreed to,prove beneficial to the consumer, whilst it would greatly injure the West India proprietors. Therefore whilst 1 admit that I am not preparsd, if circumstances were iavorable,to assert that a remission of a portion of the duty on foreign or on British grown sugars would not be advantageous to the country and to the British planters, I must at the same tim. say that I do not differ in the sligitest degree from the opinions which I stated last year w ith reference to this subject. There are, however, some consolations to be observed with i espect to the sugar trade wbieh lead me to hope for an amelioration in the future. In the year 1840 a material increase will beobseivel to have taken place in the consumption of British colonial sugars. The supply has proved to be Urgerthan had been pr> v ousiy calculated upon; and accordiugto the figures which I have been able to procure of its amount, 1 can state iu round numbers the quantity consumed in 1840, that is to say, in the year ending the 6th of April, 1941, it was, 4 036,00# cwt., while in the yearending the 6th of April, 1841, the quantity consumed it estimated at 4 334,000 cwt., and this increase is still creator if I carry my statement into the y eat preceding ; for 1 find that the quantity of sugar consumed in the year 1839 was only 3,604,000 cwt. The duty also w hich hut been paid upon sugar in the same period has shown a corresponding increase ; for the gross amount levied in the year 184't, endingtue 6th April, 1811, was 4 466,000/., stating it in round numbers ; whilst in the year ending the 6th April 184-1, the estimated amout of duty was 6,111,008/. (Hear, hear ) 8o that, even without having had recourse to the admission of foreign sugars, there has been an increase in the amount of duty derived from the consamption of Bt itish produce almost equal to that which was calculated upon in the estimates ofthe right han. gentleman opposite, from the increased consump'ion oi sugars, arising from the lowering of the duty. There has, I am happy to s u e, been a very great increase in the sugars produced in the East ladies and the Maurmts ;? so that the total amount of imports of this necessary ef life during the last year exceeds that of any preceding rear on record. | Hear, hear.] The e-limates 01 the probable supply which has been ralcu lated upon for the next \ tar arc tlx, as far as I can learn of the most favorable nature ; so that altogether the prospects of asiiflicient supply for the consumption of (ireat Biitaiu being afforded by our own possessions are most satisfactory. As far as I can sec, also, the stock of sugars in hand are quite sufficient to guarantee the country against any su.ldeu dearth of this article,for,on the 6 h of March, the quantity of British plantstion. Mauritius and East India sugars in the storehouses in London, was 410000 cwt ; and at the cu'porti th s ock ? cs 490,000 (query 190 000) making together a total of 5#!),001 (query 89.1,000) cwt. In 1943 the amount of the crop w as estimated at 3 400 000 cwt. in the West In. dia eulonies, at BOO 000 c wt. in the Mauritius, and at !,7('0,ooo cwt. in the K.ist Indies, making together, with the stock of 690,000 cwt. already in hand in London,and the outports, the total amount of A 40 * 000 cwt., which, w hen compared with the consumption of the last year, f 4 64'i liOO cwt, w ill leave a surplus in hand above the probable consumption ol some where about 1.309 000 cwt. 1 do not wish to be understood as saying that this is a conclusive argumunt against the admission of foreig. sugar for consumption into this country, even if that question were not embarrassed by the present stale of the slave colonies: hat it would be a most painful circumstance of her Majesty's government, entertaining th>-opinions which I and my colleague* expressed last year on thia suject, were to see ourselves compelled to resort to the admission of foreign sugar ia order to enable the proper supply to be afforded There are nunrn r ous intricate questions in vol rid in the negociations which arc now on foot with foreign countries as to the abolition of slavery, and that there are various plans in agitation fer|its gradual abolition, upon the success of which the noble lord had calculated in his proposal of last year; but in my opinion there would rast a very serious imputation on the honor and good faith ofKngland as to the reality of the efforts she professes to mike for the abolition of slaveiy abroad, which have disinclined me to incurthe risk of encourageing the continuance of .uc .I.IC admitting any portion of foreign slave grown sugars to consumption in thi* country. [Hear, hear.] There were the grounds upon which 1 bared my opiniona last year, and theae are no w the reasons w hy' her Map-sty 'a government it tin willing to disturb the present arrangemi nta in the article of sugar. The other two articlea to which I have already referred aa being objecta of almost universal consumption and utili'y are coffee and timber, and I hope that on this head w hat I have tooffi r will prove to be more acceptable to the house and the country than 1 fear our determination as to sugir will probably prove. With respect to coffee, 1 am aorry to find jn looking at the returns, that whilst the consumption of lugarhasbe n very much increased, that o( coffee has fieeii somewhat reduced. In the year ending Aprilftth, 1041, the amount consumed was 2 878 000 cat.; whilst in he year ending April ft, 1841. the amount consumed was only 3 842 100 cat. The gross amount ef duty paid in he lams y earl was, in 1840,1.922 000 ; nnd in 1841. 1,800, *10. 1 suppose it la scarcely accessary to remind tte fiouse that there exists n considerable difference between ihe am mnls of duty levied on the coffee produced in the Weat Indian colonies in ihe Mauritius, and the Esst In. lies, and in that produced in foreign countries. On the latter produce 'here Is a duty of Is 11 p-r lb lev e 1 ; on British Wist India coffee 91 per lb ; and on coffee coming from all countrie* within the limit* of the East India Company's charter there is a duty ef 9i per lb levied The effect ef this difference in the duty is to exempt a great portion of the foreign grown coffee which is consumed in this country, ft em the Is 11 duty, and to a) mit ! il at the middle rate ol 91, for m order 10 a>oid the higher rate it wai at preaenl sent from the Brazil* and Irani Hayti to the Cape ofOooJ Hope, which being within the limits of the East India Company's charter enabled il to be entered at the Custim House in England as coffee conung within the description entitled to be admitted at the duty of 91, and the eff ct of this is to briDg the ccul?e grown at the Brazil* and Hsyti into consumption at ih relative price of 10J to tt 1 as compjred with British plenta'lor., ihe additional Id being the amount af freight per lb. which the trans mission ol the collee te the Cipe aJde.l te the other charges. If, therefore, the Government is prepared to rt init the duty upon any aricle ol general consumption, it is, in my pinion, better to make such a remission as will tlford a sensible relief to the consumers, instead of spreading the reduction over a number of different articles, anil thereby making it so insignificant upon each separate one as to atford no benefit to the consumer, but to the retail dealer only, audit :a, therefore, my intention to propose to the house the alteration ofihe preicnt ?..u>.v.i.ii|?ouuiiri, iu or Hi r to get rid of the absurdity of compelling cargo of coffee to make a vov age fiom the Brazils to ike Cape for the mere parpote of gelling over what may be considered as a ti conical dif (iculty. It ia my intention, therefore, to propose that the duty tie placed upon cetfee hereafter upon the simple and intelligible basis, so aa to enable the consumer to benefit to the lullextent by the rtduciion which I have thought it advisable toauggeat. The duty upon Britiah cotlee whether grown in the East or West lietiaaor tne MaU'itius,|will hereafter be 4d per lb., and on all other coffeea 9d per pound. I Uave estimated | accordii g o my calculation, the losa to the revenue t?y this reouction?taking tha amount of duty paid in British plantation in 1841 to be 403,0001, and in fm eign coltee in the aame ptriod at the duties Is 3d and 94, 417 0001, making altogether 890,0001?will not exceed 937,0001 1 do not enter into the statement of fignr> a by w hich my calculation would ha vindicated, but 1 state that this is the estimated loss which the revenue will sustain by this change,iuppo-ing the consumption remains as it now ia, but it, aa ia to be expected, the quantity of ci.tf.-sr consumed be increat'd by the teduction oi din v oi ly 18 per cut above its present amount, the losi will b.- 171,8001; by adding this loas to that which I have already estimated will be incurred by the reduction of the duty on articled consumed in manufactures?namely, the sum of 970,001'!, it will show a total dectease of 441 000! to the revenue iu these necessaries of life. I now come to the third article which I have mentioned, and which is one of great importance, in consumption entering very largi ly in'o all the branches af commerce, manufactures, agriculture, and household necessaries. 1 have now toconsi lerhow I can apply the surplus revenue which will still remain, so as 'o rueke tha greatest possibb reduction wih the utm >st possible benefit to the consumer. In determining what shall in future be the amount of duty upon timber, we have been greatly embarrassed tiy the position ofotir Canadian colonies, w hich is such as not to render it expedient to interfere materially with their interests or their commerce Tue duty at present levied ou all solid timber coming from foreign countries is 6As per load of AO cubic feet. There is another way of eatimating and of levying the duty on foreign timber, which is extremely complicated and embarrassing in the manner of calculating it, but taking the average duty paid upon lid foreign timber and upon suwn timber, it may be estimated at 4s per load of si) cubic, leet. The duty upon Canadian timber is 10s per load ol 50 cubic feet, and, nrr?n an avprawo frnra fia inOi nor lnn.1 nn ,1 ?.?!*? .... ,1 ? suwn wood. It appears to me that if we mike my reduction in the duty on timber, it ought to be made in audi a munui-ru to confer the utmost |> siible benefit on the consumer, and also we ought to take into our most serious con ;idei atiou the si'tiation of this.hranrh of cot metceinour Canadi in colonics, so as not to affect their interests by any sudden alteration 11 the present duty. It appears to me there is a mode of doing this, if theho ise would giro its consent to a considerable lo s of tevt nu?, by which means all the evils to be appithcnded by the Canadas would be obviated 1 piopose to pro.-i c4 on a totally different plan from that proposed by the lite government, and considering the great importance to our commercial and agricultural interests, and, above nil,to the ahipbuildcraof this country, of i ntbli lg them to obtain the beat timber at a moderate price, I skail propose to earry the reduction of ibe exie.ing < uty, which I have already stated is up -n an overage 41s per load, to an extent which will confer a real and sensible benefit on the claarea of c<iwne.i m w orn I hue inferred. I shall propose,ther.f r -.with ti ec >m urrence ol the hotrie, that the duty for the present yea', that ia to say, for the ye*r ending the 5 h of April, 1U43, upon (olid timber shall be 30s per loud, - n I upon d als and other sawn wond 35s per load ; bn i is also my intention to propose that a total clnn ge be mads in the present mode of levying the duty on s.iwn timber, and thst, instead, as at present, of tstnnntii g its amount by the dimensions ?f the deals to be leen-d is future according to the cubic m-asure, so that all foreign timber shall ia future be placed t' an the same fcodtg, which, in my opinion, is the on y t ue way of dealing with thiscssential articleof use. We o glit to lie peculiarly rauticus how we mal e .ny moment which may bo i I trious to Canada. It ia patt of my proi c: to confer' upon those colonies a benefit by a red uct ion of the dunes upon the import of their staple aitii lis into the mother country, wh ist, at the same t me it will benefit the consumer at home, w ho will parehase such articles at a low pti:e hereafter. Great comi lainta have been made from time to time of the protection given to the Canadas by the high duties upon foreign timber. That duty had been fixed at 25s., with 44s., upon cut deal timber per load. I shall propose that that duty lo reduced to 30s. per load, measuring by its cubical entents, and that the duty on laths should not exceed 20f. per load. [Hear.] If you consent to make that reduction of duties on loreign timber imported, it will become immediately your duty to consider the relation, in this respect in which wo shall stand to Cana la [Hear] In looking upon the situation in whi h we should then be placed to that country, I think it desirable to act upon the principle often ad'ocs^gd.that is, te treat her as an integral part of the empire. H -r great distance from this country, and the heavy cast and charges to wh ch he is put in transporting her produce, must operate to her disadvantage, and it it only fit that if you reduce the duties on timber to 25i, and those on deals ta 80s., you shall admit those of Canada at almost a nominal duty. [ Loud cheers ] Strictly nreserv ng relative justice to the foreigner and these colunists, you are required to render those duties almost nominal in their amount. I therefore propose that our Caradian timber shall be admitted at Is. per load cubical contents, deals at 2s , and laths at 3s. (Loud cheers.)This you will easily perceive, cannot be accomplished without entailing on us a great loss of revenue. As a matter of general concession I can hardly conceive any thing can ne more acceptable or beneficial to manufacturers than this reduction of the duties upon timber. The total amount of the duties tbas remitted will make a diTic.it on that head of revenue not less.thBn 60 0001 a year. There are two classes of duties?and two more only?upon which 1 shall propose to ellect a const Icreble reduction, anu they are dutiea almost univetsally admitted to press severely on ourtrade, There arc certain duties charged upon the exportation of articles of our own manufacture amounting to about 180.0001 per annum. The amount of duties thus remitted will prove to be in the result nearly about as follows : Upon woollen goods 30,000 1 Upon woolen yarn 4 900 Upon silk 4 800 Upon iron goods 24,500 On other articles 9,000 Upon earthenware and glass 2400 Upon articles a( provision . 5.3oo Forming a total of 91,50001 which being added to somewhere altout ?20 000 amount of dutiea upon miscellaneous article* of a similar discretion, of our ewn manufacture, and which I will not enumerate?[hear]?the whole would exceed, in round number*, ? 100 000 remitted; and, confining myself to the loss which the revenue will thereby sustain, 1 think it may he taken to amount to ?103,000 per annum. These dutiea are in themselves unjust, and 1 think impolitic. Considering the peculiar difficultit s with which the coach proprietors hsve had to meet in the way of their business, in consequence of the great competition experienced on the railw ay s, I feel the ti e of duties is unjust, and presses as a incumbrance upon tLe revenue instead of profiting it to the extent it should. At present the rate of duty w hich the railways paid to tl e state did aot exceed one tig'h of a penny duty per mile. During the present year Ida notfpropo* - that iu this instance any change shall take place in the rate of duty pai? by the rail road proprietors, though I will say if they are com p.red with those rates of duty paid by the coachmasters, the lsttar sre very much too bigb. Tho.te which carrv six nassenirers a v a neiiriv per mile; tho?e carry ten three-half pence ; those carrying thirteen two pence, and these sixteen three pence per mile. The sum I propose to railing from 3a, which ia too high, to 3a. Aaforasth>y are utfVctt d by the duties assessable under the assessed taxes lor roactu men and guatda, which under the bill r? gulating railroada were net aaaeaaahle. I ahnll propose that the coach proprietora t>e exempt altogether. [Loud cheers.] I propose, in reaped to the mileage, that the duties pays bleby all auch coaches aliall be averaged at three halfpence. The whole of the lota upon the assessment will thua be 6l,UO01., n loaa which, I think, upon the giom.d of Juatice, ia perfectly justifiable, and upon trial ground I vindicate the propoaed reduction of the duties payable by masters of job coachea, which may be taken to he about 9 000/ a j ear more, forming a total of70,0flul. making a total loaa, including the deficiency of 3,600 0001., of 3 780,010. By the new taxea he calculated he should hare 3.300,000, so that alterdeducting this lota he should atill have a au> plus of JJ.OOOl to meet the|increased rati, mate which would be n>-ces?ary, from the state of affairs in India and China The right hon. baronet, having thua stated the whole of his plan, and enforced it by powerful arguments, returned hit seat amidst general cheering from both aide* of the honae. Lord J. Russell complimented the right hon. hart, on the great ability which distinguished his statement. It had, whether cornet or oth. rwisc, the characteristics of,-a great meaaure worthy of a great nation like thia. It an not a paltry, nuihhling measure of detail, and ha should use hit best ability in forming an opinion as to whether it waa calculated to be the tnoit useful to the country. Mr. 0*Coi?!t?tL approved of the tax on Irith ep.rits. Lord Howicx thought the question of much toe great Importance to express an immediate opinion upon it. Mr. Wsilit, while he gave credit to the right hon. hart, for the ability of hit statimcnt, yet felt confident that the public would not receive with satisfaction a tax on income, though quite prepared for a tax on property . He thought the right hon haronct might with grrnt advantage, have applied his sliding acalc and proportioned the ratio of the tax amount tf the income to be tnxed. After aim' observations from Mr. K. B.mv; at to the danger of attempting to impose a war tax in time of peace; and from Mr 11 Hisdk and other hon. memhera, some of the rerolutiona proposed by Sir 11. Peel were agreed to, and the houae resumed. The Hew Tariff. (Corrected from the Timet.) ar.soirTiOkt ox ct'tTOMt dcvies to na raoroaso at Sia Ron rt Pen.. Wehavelieen favored with a copy of the proposed rcale of duties,from which we make the following extracts The late hour laat night at which we received this important document prerTadea us from giving a more complete summary of Its detoila. The auhjolned stateup at, however, of tome of the proposed changes comprised in the A rat raaolution will be lound intereating to our commercial readera :? Horned faille.?At preaent prohibited.?The pupoaed duty it for oxen, cowa,and calves from forugu countriea If tOi. 16?, 10t, respectively ; IubB itith poatettioni, 10?, ( 7t, aa. Hunti.?The present duty of 00s, it reduced one half, in reipeel of thote imported from British possessions. Ckictry.?The present duty of UOs. on the kiln dried material it reduc d, upon Bntiih produce only,te 10s. Kuh of all kind* trom Untixh possessions are to be alinitted duty free ; tho>e lrom foreign couutriet upon a much reduced acale. fruit.?Upon all raw produce not specified, the duty u|K)n Briti?h prodact only, to be reduced from S per cent to 3 J. Upon enumerated article! the duty it to be generally reduced, British produce being favored to hail the amouut levied. ... 1 Licurict The duty on thejuice to be reduced !iom A'S loi to iOt on foreign produce, and 10i on that of British possessions. . , , , Oil Seed Cakti ? The duty of ad it to be lacreatedto ?d on foreign, SI on British imports. Butter.?The pieient duty 01 aOs it to be redne.d .. on British import! only. Chttie ? The duty oi 10s to be reduced on Britiah im- j ports enly to 3s t?J only. Spice.?The duties on British produce are to be, in most cases, reduced 60 per cent. Clover Seed?The present duty of 30s. to be reduced to 10s on foreign produce, ami 5-. on that of British possessions. O.i all other seed a reduction of 50 per cent in fivor of British as compared with fure'gn produce. Jf idier?'The present duty o. 3s. reduced 60 per cent on Britislyiroduce only. Skint?The present duty on squirrel skins of lit. 61. reduced to 6s. on foreign, 3s 6J. on British produce. Hide, wel?The present daly of 3s. 4d. I educed to If. on foreign, 0d. on British imports. Hide,dry?The present duty of 4i. 6J. reduced to 3s. on loreign, and Is,on colonial. Glove?The duties oi 4s ,6s. and 7s. bare been rcspectively reduced to 3s ,3? S I end 6s U|>onforeign, Is, Is 3d and 3s 0J "pen British imports. Ore, Mineralt,and Mtlalt?A general reduction of duty. Olivet?The present duty of 4.'4 4s reduced to 401 upon foreign, and 30s upon British produce. Hark (for the use of taaners)?The present duly of 3d reducod to 0J ou foreign, and Id oa British produce. Indigo?The present duty of 4.1 roduced one half upon British produce only. Silk and Manufacturer/ Silk?The duty has been generally reduced 6# per cent in favor of Biitish imports. Upon fereign manufictured silks no material ch.uigc. 2'ui?Tha present duty of 15s has been reduce J to 01 upon foreign, and 3s upou Biitish produce. Turptnline?The present duties of 4< 41, 6s 41 and ?1 6s 2d, have been reduced generally to Is upon foreign and 0d upon British produce. Brittle?The present duty of 3jd is reduced to 3 J on foreign, and ljdou British pro luce. Cork?The present duty of 8i is reduced to 3 i on foreign, and Is on British produce. Straw Plat?The present duty of 17s is reduced to is 4 upon loreign, anddsbd on Biitisbimports. yf Tallow?The present duty of 3s 2 1 u reduced to 6>1, and thut of is on the produce oi British possessions to 3d. -Du'vTimber?Canada timber, Is Foreign, 30s Deals (cubical|contcnts,) 36* Lath wood. 30s For the year ending the 5'.h cf April, 1344? Foreign timber, 24s Deal*, 39* Lnthwood, ao* Coffee?The present duty of 1* SJ is to be reduced upon all foreign coffee to 8 I, and upon all the growth of Bri tish possession* to4d. Mahogany?The present duty of 30s per ton upon that im]K>rted from the Bay of Honduras or the Mosquito ' Shore, a* also that of ?4 upon the growth of British possession*, is to here lueed to ids; while the duty of ?5 upon that otherwise imported is rtduced te 30s uponforeign and 10s on British produce. Second Resolution. Resolved, Thatinlieuof all duties of customs payable an gools, ware* and mi rchandi'e exported from the united kingdom to foreign ports, there shall be levied the following duties out wards, viz : ? e d. < Clay,the cwt. 0 19 Coal exported to any plsce, not being a British possession, io any snip, the ton, 040 Ores, for every ?100 of their value, 5 percent. Wools and silks, the owt. 0 10 Manufactures, or Pretended manufactures, slightly wrought up, so that the same may be reduced to, and made use of as wool again, mattresses or beds stuffed with combed wool, or wool fit for combing or carding, the cwt. 0 3 0 THiar> Resolution. That the duties imposed in the fotegoing schedule on articles other than spirits and timber shall be ri spec- j lively subject to the charge of five percent imposed by an act passed in the 3d year of her present Majesty, cap. 17; and the duties imposed in the foiegoing schedules on spirits shall be subject to the additional rated c!t ge laid on spirits by the said act, and the duties imposed in the fcregoing schedules oti timber to the additional charge imposed by the act 3 and 4 Victoria,cap. 10. The Recert Affairs iiv India ?Official despatches wer* received at the board of Control or Thursday morning from Bombay and Calcutta. We regret to state that they fully confirm the melancholy news which we published on the previous day relating to the destruction of the army in Afghanistan The accounts which have appeared of the dreadful catastrophe, we understand are rather under than over-rated. The army in Jellalabad, when the last accounts were sent off, remained secure, and great hopes were entertained that they would he able to maintain their position until sueh time as reiaforceman-s could be sent to their assistance?London Standard. Emigration to America.?The New York line of packet ship Gladiator carries nut 154) passengers in the steerage, who intend to settle in various parts.oi * the United States and Canada, and 20 cabin passengers. The passengers in the steerage are principally agriculturists front the home counties; the cabin passengers are chiefly merchants and othere upon business. The Mediator will take out 350 emigrants to ^lew York. The Late Major-Geheral Elphinstoise, C. B. ?This gallant and lamented i fiicer, whose unexpected demise is confirmed by the overland mail. was the second son ot the late lion William Fuller- ! ton Elphinstone, and grandson of Charles Tenth Baron Elphinstone, andeousin to the present peer. He distinguished himself at Waterloo, and in many of the Peninsular engagements, and his commission as Major-General was dated 10ih of January, 1H87. 1 He was on the eve of resigning his command and returning home, having been succeeded by Major General Grev- General Elphinstone was in his 60th year?Globe. Cavanagh, tiie Fasting Man ?At the Queen squa>e Police-office, London, on Thursday, Bernard Cavunagh, the man who has obtained such notoriety front his pretended power of abstinence, and who has recently been released by the Court of Queen's Bench from custody at Reading Gaol, has been committed for one inoruh to hard labor in the House of Correction for begging. It is expected there will be three launches of vessels this season on the Thames?the Worcester, 50 guns, building at Deptford; Chichester, 50 guns, building at Woolwich; and inoiher smaller ve .-el at the latter dockyard. Mcsical and Dramatic Chit Chat.?Her Majesty and Prince Albert honored Covcnt Garden Theatre with their presence on Wedneaday evening. March 10, to see Mr Jerrold's new comedy of " Bubbles of the Day," and the masque of "Counts." Her Majesty arrived at the e?d of the third act of the comedy. Prince Albert came in at the beginning ?f the filth act, having accompanied the Duke of | Cambridge to the Ancient Concerts. The Queen, ditrirg the performance, sat behind the &mple crimson curtain of the royal box, and the audience did not, by any mark of recognition, disturb her majesty's privacy. The prince sat by the side of his illustrious consort, and was also invisible to the majority of the audience. Her majesty remained until ihe conclusion ol the performances. The house was well attended On Monday, Mr and Mrs. Wood, with Mr. Shrival, appear for the first time at the Sheffield Theatre. un lu'soay ana following nights, Mr. Ysndenhuff, with Ins daughter and sou Henry, play at the same place. The new operetta, underlined in the Drury Lane Theatre bills, entitled " Thi S udmlsof Bonn," is from the pen of Mr George Rodwell, who has also composed the mutic for it The piece is, we are given to understand, a trHiialaiioD, but the mui-ic is the original effort of that popular composer; and the opinions expressed in the green room are favorable 10 us succe??. The Duke of Cambridge and ilie Ducheaa of Gloucester signified their inieriou of being present at the performance of " Israel in Egypt," at Exeter Hall yesterday evening. At the Philharmonic Society's concerts, in London, three new symphonies are to be brought out; one by Spohr, another by .Mendelssohn, wno, it is said, will conduct its performance in person, and a third by Molique, the great violinistMr. and Mrs Charles Kean concluded a briet engagement in Glasgow, on Friday week, when the receipts for the five nights amounted to no lets a suin than This enormous receipt gives the best proof there is yet in the manufacturing districts both money and inclination to tupport the_ drama, when attraction is offered. Mr. and Mra Kean are now at Edinburgh. Celeste was playing with grmt eclat in L.ver pool. France. The French mail of March 12 has bean received. The papers comain no intelligence of any moment beyond the following paragraphs which we extract:? "Le Commerce gives the following extract from the "Journal de Sroyrafc" of the 16th of February:? The steamer which arrived on Saturday froan Trebisonde, br.ngs informali n of an extensive fire at that place on the evening nf the 4th instant. It raged tne whole nf the night, and destroyed 500 shops, about ten houses, and a khan, but the greater pari of the property contained in them was saved. 1'he three deputies nf the Greek, Armenian, and Arm> nian-Catho'.ic population of Fera, who were appointed to make the distiibution of the ground situated in the quarter nf p. ra lately destroyed by fire, have just be> n arrested and imprisoned on a charge of fraud in the exercise of their functions." The following paragraphs concerning the French embassy at Madrid are quoted by " Le ConstituM

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