POSTSCRIPT.
SATURDAY MORNING.
Soon after the House of Commons met last night, Lord John Russell laid the French treaty on the table; and the House resolved itself into a Committee of the whole, to consider the Customs' Acts and enable the Chancellor of the Exchequer to unfold his Budget.
Mr. GLADSTONE spoke four hours. What he said said we must com- press into as brief a space as is consistent with clearness. The year 1860 bad been marked out by public expectation as one when taxes might be reduced, because 2,146,000/. of interest on the debt, and the increased duties on sugar and tea, and the income tax would lapse. Then had come the commercial treaty with Fiance. There are, how- ever, disturbing circumstances. The revenue, estimated at 69,460,0001., has yielded 70,570,0001., and but for these circumstances, the expedition to China being among them, there would have been a balance in hand. In the meantime, Spain has honoured bills due from her amounting to 50,0001.
Coming to the charges of the current year, Mr. Gladstone said that the estimated funded debt stands at 26200,0001. and this it is proposed to reduce by 2,438,000/. The consolidated fund, commonly so called, stands at 2000,0001., exhibiting an increase of 40,0001. The army and military, in- cluding a vote of credit for the Chinese expedition, amounts to 15,800,0001. The navy and packet service stand at 13,900,000. The miscellaneous esti- mates might be taken at 7,500,0001., exhibiting a decrease as compared with the estimates of last year of 325,0001. These and other items make a total of 70,100,000. He anticipated that the customs of the next year would yield 22,700,0001.; the excise duties, 19,170,000/. ; stamps, 8,000,000/.taxes, 3,250,000/ ; income-tax (that was one half year outstanding), 2,400,000 ; revenue, 280,000/. miscellaneous, 1,500,0001.; making a total of 60,700,0001.; while the total charge upon it would be 70,100,0001., leaving an apparent deficit of 9,400,000. The deficit must be met irrespective of remission of taxation. It would be they to return to peace duties on tea and sugar, if the House would agree to an income-tax of one shilling in the pound. How is the deficit to be met. Were they to stop in the progress of commercial reform ; if so, they might stop for ever. High taxation is a reason why they should proceed, not why they should stop. The country is richer than it ever was, and better able to bear the war taxes on tea and sugar ; and it has paid an Income-tax of Is. ld. in the pound during the last half year without a murmur. ("No, no !") He meant his observation generally. There is some murmuring, for he had received a letter, saying he ought to be hanged. What did he propose? The Government asks Par- liament to renew the tea and sugar duties, as they now stand, for fifteen months. He now came to the commercial treaty of France, which he re- commended for adoption to the House. France engaged to reduce the duties on English coal and coke, flax, and pig iron, in 1861. On 1st October 1861, France would' reduce duties and take away prohibitions on British productions mentioned, on which there was an ad valorem duty of 30 per cent. There is a provision that the maximum of 30 per cent should, after the lapse of three years, be reduced to a maximum of 25 per cent. England engaged, with a limited power of exception, to abolish immediately and totally all duties on manufactured koods, to reduce the duty on brandy from from 15s. to 88. 2d., on wine from as. 10d. to 3s.—with power reserved to increase the duty on wine if we raised our duty on spirits. England en- gages to charge upon French articles subject to excise the duties to the same amount which the manufacturer would be put in consequence of the changes. The treaty is to be in force for ten years. Having vindicated the policy of the Government in regard to the treaty, and contended that it is not an abandonment of free trade, he stated gene- rally the results of the treaty. The reduction of the duty on wine, which will afford relief to the consumer, will be 830,000/., entailing a loss of 515,000. The reduction of the duty on brandy from 15s. to 8g. 2d. will afford relief to the consumer to the extent of 446,000/., entailing a loss to the revenue of 225,000/. There were other matters on which it is proposed to postpone the remission of the duties for some time—for instance, corks and straw plaits ; but the general result will be, that the relief to the con- sumer would be 1,737,0001., entailing a loss to the revenue of 1,119,0001. France is a foreign country, but it is a country divided from England by a narrower channel than that which separates England from Ireland, and there are no two countries to which nature has given such a diversity of soil, products, and 'character, and there cannot be found on the face of the world two countries so well constituted for carrying a beneficial and ex- tended commerce. (Loud cheers). England has gained a great advantage, even if France had done nothing at all, and she has done doubly well, be- cause Francs has done a great deal. (Loud cheers.)
Entering into the wine question and discussing it freely, Mr. Gladstone paid a tribute to Mr. Cobden, and passed on to a further change in the Customs, which would entail a loss to the revenue of 910,000/., giving at the same time relief to ,the oonaumer of about 1,040,0001. It was proposed to abolish the duty on butter, which yielded 95,000/. a year ; on tallow, which yielded 87,0001.; on cheese, which
yielded 44,000/. ; on oranges and lemons, which yielded 32,000/. ; on eggs, which yielded 22,0001.- on nuts, which yielded 11,000/.• and on other ar-
ticles, yielding altogether 382,000/. Farther to reduce the duties on tim-
ber, from 7s. 6r/. to Is. and 2s. ; on currants from 158. 9d. to 78. ; on raisins frenii 10s. to 7s.; on figs from 10s. to 7s.; and on hops from 45s. to 148. He
prop Bed to levy on all goods imported or exported a duty of one penny per
package for registration, and on goods in bulk, in accordance with the unit under which they were entered. He calculated that that would produce
300,000/. a year, and to levy a small rate on certain operations in
warehousing, such as removing, packing, mixing, &c. From that measure it was thought 120,000/. a year might be raised. He also proposed
6s. a cwt, on chicory, or any other vegetable matter prepared for mixing with coffee, and upon that point he should ask the committee to propose a vote that night. He proposed stamps on notes for the sale of colonial and dock warrants. He proposed a license on eating-houses, under whatever name they might be carried on, giving them the permission of selling wine and beer. The duty on these houses would be doubled if they were kept open after twelve o'clock at night. Stamps on various other small articles would be imposed. He proposed, under certain modifications, to reduce the game certificates. He proposed to remove the stamps on cheques. He should also propose to the committee the repeal of the duty on paper. (Cheers.) And to abolish the stamp on newspapers. How should the deficiencies be supplied? Ae he had before remarked, a shilling income-tax would do it at once. Remissions bad been proposed giving four millions of relief, and there were deficiencies of nearly nine and a half millions. Against that they proposed to take up the malt duties, and to impose an income-tax of 10d. in the pound over 1501. a year and 7d. in the pound under 150/. Throe-quarters of that amount would be collected this year. After a general review of the whole of the propositions, Mr. Gladstone contended that they were of the highest importance, morally, so- cially, politically, fiscally, and economically, and thus terminated his expo- sition.
Then arose a smart discussion-on the proposal of the Government to take up the discussion on Thursday. Mr. Disastem,admitting the ability of Mr. Gladstone's statement, contended that a later day shouhl be named for the debate. In this he was warmly backed by Mr. &lac- and Mr. NEWDEGATE. Lord PAUSERSTON then suggested Friday, which caused some merriment. Mr. Cnawessao, on behalf of the City, pleaded against delay. Mr. NEWDEGATS again interposed. They should not be so eager to register the commands of France. This speech called up Lord JOHN RUSSELL, who denied that the treaty had been forced on the country, and :significantly warned the House that, until the material points in the budget are settled, he can do nothing with the Reform Bill.
Finally, it was agreed that the debate should begin on Monday week, and proceed day by day.
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