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trication from the difficulties which he admits and even exaggerates. The only hint that tends that way is his statement that the deficit was altogether occasioned by the voluntary reduction of productive taxes' (p. 16). Does this imply that the best mode of reducing the deficiency would be the re-imposition of the repealed taxes?-a proposition which, extravagant as it appears, Sir Robert Peel had, as we have seen, patiently examined, and proved both by reasoning and experience to be inadequate and impracticable.

China we still have ;-and we think we may venture to say that the sum proposed to be levied by the Income Tax will not much, if at all, exceed the expenses, past, present, and future, of these wars, every one of which has been inflicted on us as well as on the objects of our hostility, by the impolicy, the injustice, and the incapacity of the late ministry.

But we do not, as we have already said, rest the defence of the Income Tax on any such narrow and, as it were, technical excuse. The country accepted it as Sir Robert Peel offered it, as a great resource in a great emergency, as effecting, and as being the only measure capable of effecting, the combined purpose of liquidating our financial difficulties and contributing to commercial relief. The re-enactment of repealed taxation was out of the question-the utter failure of the per centage on the customs and the excise proved that those duties on articles of consumption had reached their limit, and that any further pressure could only produce further retrogradation; but, on the other hand, Mr. Baring's per centage on the assessed taxes had exhibited the phenomenon not merely of realising the estimated amount, but of a substantial increase of the revenue itself. Now the assessed taxes are very analogous to an income tax-they are in fact the representative-though in some respects an inadequate and partial one-of income. Sir Robert Peel therefore concluded, most judiciously we think, that he had in the advance of the assessed taxes a practical argument in favour of a tax upon income;

But Sir Richard Vyvyan is here again lamentably misinformed on the fundamental facts of his case-the deficit was not altogether occasioned by the voluntary reduction of productive taxes.' It is true that there had been a successive and, as we have always thought, an improvident reduction of taxation, but we can hardly call it 'voluntary' on the part of the late ministers, for they were, in fact, bullied into it by a coercion which they had not the honest courage to resist. Nor was that reduction, even if it could be called voluntary, altogether' the cause of the deficiency-the reductions would not of themselves have had such fatal results, but they were unhappily concomitant with sudden and rapidly increasing expenditure abroad and at home. The negÎect of the Whig ministry to equalise the revenue and expenditure was indefensible; but it does not justify Sir Richard's misstatement of the fact, nor his forgetting that Mr. Baring did, in 1840, make an effort to meet the deficiency by the additional per centage on the excise, customs, and assessed taxes, and other sources, to the total amount of 2,200,000l., which, though inadequate to the object, exceeded the recent reductions, to which alone Sir Richard is pleased to attribute the deficiency. We the rather insist on this mis-statement because it is connected with that other very Even the objectionable character of the important mistake-that the Income Tax tax affords on this occasion some recomis a WAR-TAX, which it is the determined mendation to its adoption. We are called will of the nation at large should not be upon to meet a difficulty which, though levied during peace.' We know not where sharp, may, we trust, be short. The impoSir Richard has found the record of this sition of taxes on general objects, whether determination of the nation at large that the of production or consumption, cannot fail Income Tax should not be levied during to disturb in some degree commercial inpeace; not certainly in any expression of terests-and after they have been, as it popular feeling during the progress of the were, amalgamated with the system, the measure through parliament. We admit, remission of them has a similar effect; it is, however, that, with Lord Brougham, we therefore, highly impolitic to lay on permastrongly incline to that opinion; but Lord nent taxes for a temporary emergencyBrougham did not forget, as Sir Richard but an Income Tax stands alone-its influVyvyan has done all along, that we have ence on trade and the markets is so circuitbeen waging four distant and very expen- ous and so slight as to be almost impercepWar in Canada and war in Sy-tible, particularly at so small a per centage ria we have had-war in India and war in 'as 7d. in the pound. It, therefore, can be

sive wars.

and by exempting incomes under 1507. per annum from the operation of the tax, he spared the classes which are, at the moment, most in need of relief, and affected the easier and richer orders in the direct proportion of their means.

imposed in 1842, and may be remitted either at the end of three or five years, when its special purpose shall have been fulfilled, without any derangement of other interests without affecting stock in hand -orders-bargains- buildings-speculations-or any of the variety of circumstances with which taxes on commodities are necessarily blended. The unpopular nature of the tax, also, suits it peculiarly for a temporary purpose, for the country, patient as it has been of its imposition as an urgency, will be very watchful to see that -agreeably to Lord Brougham's Resolutions and the Duke of Wellington's declaration-it be not continued one hour longer than shall be absolutely necessary.

of machinery for a temporary purpose. On the whole, therefore, we are not surprised at, and do most cordially join in, the general concurrence-we had almost said satisfaction-with which the Income Tax has been received.

With regard to the modifications of the Tariff there is little to be added to Sir Robert Peel's masterly exposition in the House of Commons of both its principles and details, which all who will read anything on the subject must have already read. A short summary, however, of the general object, and a few words on some articles that have been prominently criticised, will not, we trust, be considered superfluous. The first and natural object of a tariff is to raise a custom revenue; but there has been engrafted on it, in England as in most other countries, the different and almost opposite design of encouraging particular articles-either of home manufac

try-by laying-even at the sacrifice of revenue-prohibitory rates of duty on similar articles imported from other quarters. The extent to which the English Tariff has been applied to the object of protection, independently of revenue, is curiously shown in the report of the Import Duties Committee, 1840. It there appears that, of the total Customs revenue of 22,962,610l., seven articles alone, out of 1150 articles comprised in the Tariff, produce no less a sum than 19,148,6297., viz. :—

Sugar
Tea
Tobacco
Rum, &c.
Wine
Timber
Corn.

We have already ventured to express our humble admiration of the disinterested patriotism of the members of both Houses of Parliament, who have accepted cheerfully and almost unanimously a burden which presses in a peculiar degree on them-ture or the produce of some favoured counselves and the classes to which they belong, but from which the lower orders are proportionably relieved. But even upon the wealthier classes the sacrifice will not, we are satisfied, be in fact so great as the nominal amount of the tax they may pay. Sir Robert Peel stated, in the outset, his hope -and he repeated, in his brilliant recapitulation at the close of the session, that his hope was increased to confidence-that to persons of moderate fortunes, who spend a large proportion of their incomes in the necessaries of life, the Income Tax, 37. 168. 4d. on every 1007., would be fully compensated by the decreased price of commodities influenced by the improvement of the tariff-we say influenced rather than produced, because we believe that the indirect effect of the tariff will be still more beneficial than any direct lowering of prices. There is another circumstance which deserves a passing word. We stated in our article of October, 1839, on the Penny Post, that the postage duties were substantially an Income Tax-and so in the vast majority of cases they were: 1,600,000l. of that revenue has been abandoned; and, much as we disapproved that excessive reduction, and fully as all our prophecies and anticipations about it have been realised, we concur with Sir Robert Peel that the system should not be at present altered-but as this was 1,600,000l. Cheese remitted to the income of the country, it may be considered as a set-off pro tanto against the new Income Tax. And, finally, the Income Tax has the great and peculiar merit of being collected at a moderate ex- So that seventeen articles out of 1150 propense, and requiring no permanent creation duced the enormous proportion of 21,700

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9301. out of a total of 22,962,6107.; and of of local or temporary pressure, and may, by the remaining 1133 articles, we believe we precautionary measures, divert or alleviate may safely say that above 1000 would not its effect; but, above all, they may and are repay the The ad- therefore bound to take care that no meaof collection. expenses justment of these duties, and particularly sures of theirs shall increase the natural difof the large protective class of them, has ficulties, and add to providential vicissitudes. always been a very complicated and diffi- the irregularities and partialities of human cult affair; every foreign power and every legislation. domestic interest availing itself of every These are the principles on which we natural, accidental, or even occasional in- rest our humble support of Sir Robert fluence, to obtain an advantage over their Peel's measures-his maintenance of such competitors. It is, therefore, not surpris- a protection to the cultivation of corn as ing that tariffs so frequently altered and may ensure, as far as human means can, a modified, pro re nata, and to satisfy this or certain and regular supply-and the dithat importunity, should be frequently erro- minishing, as far as circumstances permit, neous in policy and principle, and incon- of duties on all articles of food or comfort sistent and anomalous in their operation. not requiring so high a degree of protection It is a remarkable coincidence that just-and on raw materials, the plenty and 130 years ago, after the treaty of Utrecht, the Tory ministry proposed a tariff for the reduction of duties, which was opposed and ultimately defeated by the Whigs upon exactly the same kind of objections which The new Tariff, in pursuance of these have been-fortunately so ineffectually principles-which were powerfully_exmade against the present arrangement. It pressed and elucidated by Sir Robert Peel

cheapness of which may develope additional industry, and thereby enlarge the means of subsistence for the great masses of the people.

lieve, a classification of the several articles it includes, and a systematic apportionment and application of the various duties which it imposes.

was on that occasion that Addison wrote--and Mr. Gladstone in the House of Comwith less, we think, than his usual good mons-attempts for the first time, we besense and pleasantry, but with considerable party success-his Trial of Count Tariff. It is, also, curious that the main object of that tariff-the balancing our commercial favours between France and Portugal-should be at this hour, as it was then, the subject of separate and conflicting negotiations with these countries.

Having stated that the protecting duties in favour of various branches of home produce were laid on from time to time, and under temporary and local influences, we need hardly say that the old tariff had little regard to consistency or system, and indi

These negotiations and the prohibitory duties recently imposed by France on a great and growing branch of our manufac-vidual interests had obtained individual protures have necessarily prevented any recon- tection, often delusive to themselves, and struction of the scale of wine duties; and always in some degree injurious to their considerations connected with the slave- fellow-subjects: let us take, for instance, trade have had the same effect on the sugar the question of the metallic ores, of which duties; to both of which important sub- Sir Richard Vyvyan has made his stalkingjects Sir Robert Peel has stated that he horse. Copper-ore is what we may call a directs an anxious attention;-but he did natural monopoly of the Cornish peninsula not therefore postpone those measures of the only other considerable supply being, relief which were within his power. The first duty of a statesman is, to provide, as far as human means allow, for the cheap and regular subsistence of the people. Providence has indeed reserved to its own mysterious councils the chief share in the solution of this problem. The main elements of the demand and the supply of food man cannot command-nor on any very large scale regulate-the growth of population and the produce of harvests, though the result of human means, are practically beyond human control. Governments can do but little towards increasing the one or checking the other; but Governments may estimate the probable occurrence and extent

we believe, from the distant mines of Cuba, or those, still more distant, of Chili. Would not one suppose that the mere freight round half the globe of an article of which the available part is not, on an average, onefifth of its weight or bulk, would be a sufficient protection to the Cornish miner, who has his smelting-house at the pit's mouth? The mining interests of Cornwall, however, did not think so; and in the days in which it-with the private interests of the Crown representing the Duke of Cornwall at its head- -was one of the most powerful interests in Parliament-a prohibitory duty was laid on copper-ore. This did not at first sight seem very important as a domestic

it may curtail, it will open or enlarge the sources of profitable industry to a hundred of his neighbours. We therefore should hardly on principle have complained if the protecting duty had been wholly repealed

but, as we have formerly and recently said, a violent recurrence to principles is almost as impolitic, and in general more immediately injurious, than the departure from them. The long and complicated discussions-in which Sir Richard Vyvyan declined to take any part-were employed, as we before stated, in adjusting between four or five important classes some common and equitable measure of protection, the Government being in fact little more than an umpire between them. Sir Robert Peel seems to us, in this case of the ores, as throughout the whole tariff, to have taken a most judicious practical coursehe has not abrogated existing protection, but moderated it to the degree that promises a considerable alleviation to the consumer, without materially disturbing the condition of the producer.

question, because Cornwall already sup- | cheapness may create. Sure we are that, plied more than enough for home use, and for one individual whose immediate income we did not seem to need importation from Cuba or Chili. But see how it worked. To the natural monopoly, this fiscal monopoly being superadded, the mine proprietors were enabled to put their own prices on the article, and to enter (as it is said to happen sometimes among the Coal proprietors) into a combination not to sell for home consumption under a certain price-though obliged of course to send their surplus abroad for what it would fetch, where it had to meet the competition of foreign ores smelted in England; for ores were allowed to be imported and smelted under bond and then exported. By these means the foreigner obtained the article cheaper than ourselves -for instance, we are informed that a short time ago the French Government bought copper-sheathing for its navy at 127. the ton cheaper than the British Government was obliged to pay at the same moment for the same article, drawn from our own mines, and smelted in our own furnaces. Could it be a wholesome or rational system which made an article manufactured in Cornwall dearer at Plymouth than at Toulon? But this is not all. The prohibitory duties cut off the shipping interest from an obvious source of profit, while they increased the expenses of naval outfit, and they also deprived all the manufactures of the country of the additional outlet which the unrestricted exchange of their copper-ores might have created in Cuba and Chili.

England possesses facilities for the smelting of ores beyond any other country in the world-the prohibition of import deprived pro tanto our home consumption of this natural advantage. Consider also how much this prohibition must cramp that great portion of our internal industry that makes any use of copper-how much more, of all that are employed in it as a distinct manufacture; and how it must check the application of copper to new and experimental purposes. Iron has been made, chiefly from its cheapness, to supply the place of wood and stone-in fences, in houses, in ornamental architecture, in furniture, in roads, in carriages, and in ships-nay, we have iron substitutes for wool and horse-hair in cushions and mattresses! We believe copper to be capable of a-less general indeed, but still very extensive application to purposes for which it is at present rarely or sparingly applied; and we doubt whether the Cornish proprietors themselves will not find, on the long run, their own profits increased by the extended use of the article both at home and abroad which greater

Much alarm was felt, or at least expressed on the part of the agricultural interest, on the diminution of the duties on the importation of cattle and other articles of animal food. We have already alluded to that absurd panic-but we wish to say a few words on the subject to show that even in this case the principle of reduction is as just, as the application of it promises to be universally beneficial. Our first observation is, that while the duties on salt meats were protective, those on cattle and fresh meat, which would most affect our own people, were absolutely prohibitory, and they were imposed in former times when our population was, as compared with the present day, scanty and well fed. Surely the mere growth of our population would of itself have justified the repeal of a prohibitory duty on meat. And here, in reference to this point, as well as to the Corn Laws, it cannot be unimportant to exhibit the growth of our population in the five decennial periods of which we have any exact enumeration. The population of Great Britain was in

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many other articles of agricultural origin. might become much cheaper than we fear the tariff will render them, without doing any real injury to the agricultural interests. It has been tauntingly asked-how it is possible that the general consumer can be benefited without injuring the individual producer? In the article of meat, as well as of some others of analogous character, there is one preliminary answer-prices had risen, and were still rising so high that, if the tariff should only have the effect of keeping them where they are, or even of lowering them in some reasonable degree, the consumer will be benefited without any sensible change in the actual condition of the producer. But there is that still more important reason to which we before alluded, and which is of general application, affecting the income tax, corn duties, and the whole tariff-namely, that the PRODUCERS―of the neglect of whose special interests we hear so much-form also the main body of the CONSUMERS, to whom Sir Robert Peel is reproached with being too partial.

In short, we are of opinion that the measures have been so cautiously selected, so carefully balanced, so judiciously combined, that no sudden shock or injury will be felt by any one of the various interests concerned. Those who hope as well as those who fear some very immediate and remarkable consequences, will be, we think, equally disappointed. The improvement will be general, but it will be gradual and progressive; the pressure on a few individual interests will be found to be slight in itself, and so distributed and compensated as to be, we trust, hardly perceptible. The most early and probable result that we look to is, that, by the gradual operation of the Tariff and the blessing of God in a promising harvest, the prices of provisions may be reasonably lowered, and a feeling of comfort and a spirit of enterprise and industry revived throughout our manufacturing population, without any sensible injury to the agricultural interests. A bad harvest would, of course, have raised agricultural prices; yet no farmer wishes for a bad harvest; and though plenty may lower his prices, it must increase his profits; and fortunate it is, that, at the moment when some reduction in the value of farming produce may be expected from the season, the operation of the Tariff will effect a concomitant diminution in other articles of consumption, by which the farmer in common with every other class must be benefited.

Take, for instance, the case of the landowner--whether he farms himself or by the hands of a farmer, the result will be nearly the same-he is a seller of corn, of cattle, of wool, but he is a buyer (generally speaking) of bread, of meat, and of clothes. If he loses something by selling cheaper, does he not gain something, at least, by buying cheaper in their manufactured shape these This leads us to offer a few words on the articles of his own growth? To the class new scale of corn-duties. We beg our of farmers who are wholly agricultural, and readers to recollect that the strongest advodeal little in cattle or wool, the cheapness of cates of the agricultural interests do not meat and clothes will be an unmixed ad- dream, at this day, of a fixed protection. It vantage. So he, who does not rear but is notorious and avowed, that the enemies fattens cattle, will be proportionably bene- of all protection propose a fixed duty only fited the cheaper he can buy the lean beast. because it would be wholly illusory, and All this, however, might, we admit, be an would lead directly to the removal of all inadequate compensation; but if, in ad- protection. Hence the opposition of the dition, spirits, coffee (by and bye, we Anti-Corn-Law League to the sliding-scale hope, wine and sugar), furniture, and the-the best, nay, we will add, the only whole apparel of himself, his family, and servants, are all reduced in cost, is there not reason to infer that he must receive a very considerable compensation, a compensation which in many, probably in most cases, will exceed the nominal loss of income, while there will be a real increase of comfort and enjoyment? And let us go a step further; a farm cannot be tilled for nothing-labour, buildings, repairs, implements, seeds, must all be paid for. If the diminished prices of provisions keep labour cheap-if the diminution of duties on timber, iron, copper, leather, seeds, make buildings, repairs, implements, and general culture cheaper--will there not be a further and very considerable benefit?

practicable safeguard that agriculture can rely on; hence also the arts by which it was endeavoured to raise popular prejudice against the principle of a sliding-scale, by exaggerating some inconveniences and anomalies with which the details of the old scale were chargeable, such as the mode of taking the averages, and some sudden and arbitrary transitions in the rates of duty. These objections, though not of the importance attached to them for party purposes, were not unfounded; and it therefore was not only justice but good policy in the friends of agricultural protection to amend those details, and thus take away from their adversaries one class of their pretences. But the main question was, what should be

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