POSTSCRIPT.
SATURDAY.
The chief business in the House of Commons last night was the financial ritatement of the year, by Sir CHARLES WOOD, in Committee of Ways and Means. Sir Charles reentered the House, after his recent illness, shortly before five o'clock, amidst emphatic cheers from Members oa every side. He appeared perfectly recovered; but he bespoke indulgence for inaccuracies that might creep into his statement, on account of his indis- position. His estimate of the income he should receive up to the 6th April had been 52,282,0001.; he now expected that his receipts up to that date would be 52,785,0001., while his expenditure would be 50,663,351/s [less than his estimate by 1,625,0001.); giving a surplus of about 2,250,000/. The whole income for next year—though the Sugar-duties fall short—would probably. reach 52,286,000/. The Merchant Seamen's Bill will impose an additional 30,000/. on the Consolidated Fund; the Antic expedition a further outlay ; and he proposed to hicrease the vote for the new House of Parliament : in all, probably 150,0001. for these additional expenses. He took the total ex- penditure of next year at 50,763,5821.; leaving a surplus of 1,521,410!.— say 1,500,000/. Much anxiety had been shown to assist him in disposing of his surplus. Deputations had advocated a reduction on tea, which would involve a firet loss of at least 3,000,000/. of the 6,471,000/. produced by the tea-duty the duty on bricks, windows, and soap, 3,275,000/ ; that on paper, 754,0001., the advertisement-duty, 157,000/, certificate-duty, 170,000/; besides re- ductions on shipbuilding timber and the malt-tax ; and also the transfer of items of local taxation amounting to about 2,500,0001. to the Consolidated Fund. Looking to the interests of the great body of the working classes, many of these duties have not the first claim for reduction; others cannot be re- placed for revenue ; and the last proposal involves a reversal of the policy pursued during the last twenty years, of removing burdens from bur to accumulated property. Government desire muck to make some re- duction in the Debt. Since the reduction of war taxation, 38,000,000/. have been added to, and only 11,000,0001, subtracted from that Debt. The rule seems to be, that in times of difficulty we borrow, but in time of prosperity we do not reduce the Debt. That object, with some remission of taxes, makes it obviously necessary to renew the Inmue-tax. In the reduction of taxes, primary objects were to benefit small owners of land, improve the systems of cultivation, and augment employment for la- bourers. He therefore proposed a considerable redaction of stamp-duties upon the transfer of landed property, and mortgagee, wider 1,000/. --the stamp-duty in these eases to be a uniform half per cent; and he misled to repeal the duty on bricks. The loss to the revenue by these remissions would be 750,000/, half the expected surplus. The other half he proposed to apply to a reduction of the Debt.
Concurrently-with these measures, he proposed another to promote the out- lay of capital on land,—namely, to advance for drainage and land improve- ments in England and Scotland 2,000,000/ • in Ireland 1,000,000/., 800,000/. of this latter sum to be appropriated to arterial drainage. These advances could be made in the present state of the Exchequer, without any addition to the Public Debt, and the repayments would he available for the reduction of the Debt. He proposed to apply 250,0001. immediately to the extinction of a part of the Debt by discharging the Equivalent Fund in Scotland ; and he hoped the House would suffer him to retain the surplus of 500,000/ remaining.
Sir Charles moved a vote of 9,200,000/. towards Supply, to be raised by Exchequer Bills.
The statement was followed by critical remarks from a number of speak- ers.
Mr. Hume complained that the relief from taxation was so small : it would have been better to remit more taxes than to make so trifling a reduction of the National Debt. Mr. FREWEN and Mr. Lew HODGES complained that hops have been overlooked. Sir HENRY WILLOUGHBY objected to more advances for.land, and wanted further reductions of the Debt. Sir DE LACY Evesis more reduction of the stamp-duties. The Marquis of GRANBY de- precated reduction of taxes, and adumbrated more pressing demands. Mr. OSBORNE.prophesied that the demand for reduction of taxes must be met by resorting for revenue to duties paid by the foreigner. Mr. Ewe.= applauded the remission of brick-duties, ut missed that of paper- duties, &c. Mr. NEWDEGA'TE poured forth Protectionist and Currency views. Lord Roamer GROSVENOR wanted promise of reduction of the tea-duties, &_ ,c. and a more thorough attack upon the present system of taxation. Mr. Pure thanked Government for bricks, but wanted a house- tax substituted for a window-tax. Mr. HENRY' Diarsemosin complained of fiscal restrictions on processes. Mr. Frezseeresix FRENCH complained that as Ireland has no brick-duty she will not benefit by the remission.. emi- gration and assistance to railwayshad been overlooked, Lord Jonas Mass- scansfeared that no one would invest advances in land, and regretted that marine insurances had been forgotten. Mr. MuNez would revise the whole eystem of taxation. Mr. SANDARS wanted a moderate fixed duty engrain; com- batted by JAMES Wriseue; supported by Mr. BARKES and recombatted by Mr. MACGREGOR, who had thought that Sir Charles Weed would abolish the taxes on marine insurances. Colonel DUNNE wanted something done for Ireland. Mr. SLANEY, readjustment of taxes in favour of the poor, and espe- cially ofsmalllandpurchasers. Captain Henntssreadjustment of local taxation, and a five-shilling duty on corn. Mr. Hervoseern a larger proportion of di- rect taxation. Mr. FORBES Meezetrzer„ snore advances for Scotland. Co- lonel SIBTHORF more performances, less promises and reduction of useless Lords at the Admiralty. Mr. Ilmeure, agrioultueal protection. Mr. HEALD applauded the proposed reductions. Mr. GOULBURN paid a tribute of respect to Mr. Brooksbank, the officer of the Treasury who had prepared the details of the financial statement, and whose untimely death Sir Charles Wood had announced that morning.
Sir Charles Wood's motion was adopted, and the House resumed.
In Committee of Supply, the House passed several votes on the Army and Navy Estimates.
Earlier in the evening, replying to Mr. REYNOLDS, Lord Jonas Russere stated, that a bill to abolish the Lord Lieutenancy of Ireland is in course
of preparation, and he would give due notice of its introduction. •
Deferring to an appeal from the Marquis of LANSDOWNE, Lord STAN- LEY postponed a discussion which he intended to raise on the Greek affair, and confined himself to a question on matters of fact. He asked why the intimation of the good offices of France- had been delayed so long in its transmission to Mr. Wyse? It arrived in Athens on the 19th of Febru- • ary. The Marquis .of LANSDOWNE said that no time had been lost: the offer had not been formally made until the 5th of February. The Earl of Momereesnes, moved for returns of penalties, &e., for breaches of the Passengers Act ; making a long statement as to the bad usage and corruption of emigrants to the Australian Colonies—abuses which he represented to be general and of long standing. Earl GREY Imputed certain complaints about food to the nausea of sea-sickness ; , other complaints to bad temper ; observed that some statements relied on ' mere newspaper authority, and explained away othea. He agreed to produce the returns, but some of them- •we,
while in coming from the Colonies.. -",,•• • •,
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