POSTSCRIPT.

SATURDAY NIGHT.

Sir Robert Peel's Budget of 1845 will be as famous as that of 1842; for, in spite of large anticipations, he prepared quite a dramatic surprise for the House of Commons last night, by another groat Free-trade- operation on the duties of Customs and Excise; retaining the Income-tax for three years. The House having gone into Committee of Ways and Means, Sir Robert Peerrose at twenty minutes to five o'clock, to make his financial state- occupied threq.hours and a quarter iu the delivery. 'He .began with a comparison of the estimate made by Mr. Goulbilrn fbr the past year and the actual revenue.

The Customs revenue was estimated at 21,500,0001., received 22,500,00014 Excise, estimated at 13,000,0001., received 13,308,000/4 the total estimate was 51,795,0001., the total receipt 54,030,0001. The expenditure was 50,646,0001.; leaving a surplus of 3,357,0001.; and there is every reason to believe that on the 5th of April next theurplus will be 5,000,0001.; of which about 500,0001. will have been received from casual resources,(385,000/. from China): but then 400,0001. has been lost by the redaction of the Wool-duties, with some other reductions.

He then- stated the estimated income for next year, excluding the Income-tax, as follows—

Customs, 22,000,0001.; Excise, 13,500,0001.; Stamps, 7,000,000/4 Taxes, 4,200,0001.; Post-office, (this year 691,0001., and increasing,) 700,0001.; Crown lands, 150,0001; Miscellaneous, 250,0001. During the year, a balance of 600,0001. will be receivable from China; and, whether continued or not, the Income-tax will yield two quarters, or 2,600,0001. The total revenue, therefore, for the year ending April 1846, supposing the Income-tax were not continued, would be 51,100,0001. He now came to the expenditure; dwelling emphatically on the assu- rance that he did not regard a surplus as any justification of profuse ex- penditure—" I vindicate no sinecures." And he pointed for an example of economy to the Queen; who has incurred additional expenses by her mar- riage, the birth of four children, the visits of three Sovereigns last year, without requiring her Minister to press for a single additional shilling, or incurring a single debt. (This statement was very loudly cheered.)

Supposing the expenditure were unaltered, there would be a surplus at the end of the year of 2,543,0001. To enforce the necessity of maintaining the Army at its present amount, lie referred to the vast number of our Colonial dependencies- 22 in 1792, 45 in 1845; and time difficulty of affording relief to troops abroad by rotation. He should require increased funds for the Navy, on account of the same extension of our settlements, and new naval stations in Africa, the Pacific, and China. A reduction had been attempted in China, but protested against by Sir Henry Pottinger and Governor Davis. There is now an actual increase Of 6,000 men beyond those voted last year at those three stations alone; and it would be necessary to increase the naval force by 4,000 more. That will cause an expense of about 184,0001. It is of great importance that this country should have the means of perfecting discipline, of improving its officers, and of keeping at its command a certain number of ships of the line. He did not believe that it ought to give, or that it would give any cause for jealousy, if this country should have the command of nine or ten sail of the line. It is of great importance that we should test the quality of vessels in sailing, and we have no means of doing so unless we send them to sea. (Loud cheers from Sir Charles Napier, followed by shouts of laughter, in which Sir Robert Peril joined heartily.) The basins at Portsmouth and Deptford, sanctioned last year, must be completed—the cost 187,0001. The total increase of the estimate for the Navy and Ordnance con- nected with the Navy would be 1,000,0001. (Some stir m the House followed this declaration.) The total expenditure for the year ending April 1846 would be—the charge for the Debt, 28,395,0001.; charge on the Consolidated Fund, 2,400,0001., making a total fixed charge of 30,795,0001.: the votes for Supply

Ordnance, 2,142,0 00 14 will be—for the Army, 6,617,0001.; Navy, 6,936,0001.; Miscellaneous, 3,200,0001.; making the total for Supply of about 18,895,0001.: total expenditure, 49,690,0001.

The next question was, how to provide for that increased expenditure. Would the House risk a deficiency in future, or provide to meet it? He would assume for the present that it would be met by retaining the In- come-tax: in that case, deducting 600,0001. receivable from China, the amount of the revenue in the year ending on the 5th April 1846 would

probably be 53,100,0001., the expenditure '49,690,000E, the surplus '8,409,0001. How should that surplus be disposed of ? "You have first to consider the claim which may be urged for the reduction of taxation, on account of the heaviness of those taxes imposed on articles which en- . ter into general consumption. You are bound also to consider what are the taxes on raw materials employed in the manufactures of this country; and likewise what are the taxes which require a great increase of establishment in order to effect their collection-which, in fact, are the taxes the remission of which will enable you to diminish establishments and reduce the expense of collection. You are bound also to consider what are the taxes the removal of which would give a new scope for commercial enterprise and increase the demand for the articles. I do not say which of these considerations ought to predominate; but they are all of great importance, and ought all to occupy your deliberate attention. If we should receive the sanction of this House for the continuance of the Income-tax, we shall feel it to be our duty to make a great experiment with respect to taxation, in the hope that general prosperity will contribute to fill the void which, on the cessa- tion of the Income-tax, might otherwise ensue." He would first take the taxes collected by the Customs Board; and of them, the Sugar-duties first. By a " temporary arrangement " last year, foreign free-labour sugar was admitted to competition with sugar the pro- duce of our own colonies, at a discriminating duty of 10a. 6d. He proposed to adhere to the general principle, restricting the competition with British sugar to free-labour sugar, or sugar produced by countries having recipro- city treaties with this country. (Laughter.) He did not wish to provoke discussion-that had better be postponed-but to state the general outline of the plan.

" The duties proposed by the act of last session were on British Plantation sugar 24e. together with the duty of 5 per cent., and on foreign free-labour sugar 84s. with the duty of 5 per cent, making the total duty on British Plantation sugar 25s. Sd., and on foreign free-labour sugar 85s. 9d. Last year, several gentlemen en the Opposition side of the House contended for a distinction between the finer and coarser kinds of sugar: on inquiry, it appears that such a discrimination is practicable. In respect to brown Muscovado sugar, the produce of our own colo- nies, we propose to make a reduction of Ile. 3/., and thereby lower the duty to 14s. This reduction will apply to all our British colonies-the Mauritius the West Indian Plantations, and British India. With regard to districts in India importing foreign sugar, we propose to retain the same relative proportionate duty; and that duty, in respect to brown Muscovado sugar coming from those dis- tricts, will be 183.8d. On free-labour foreign sugar, we propose that the amount of the protective duty shall not exceed 98. 4d., and that the duty payable on the brown Muscovado foreign free-labour sugar shall be 23s. 4d. [A Member on the Opposition side wished to know what would be the case where there wee a treaty with any country ?] If any country were entitled by present treaty, you could not deprive them of that. But now, as to clayed sugar, or that which by some process is made equal to clayed, we propose that the duty on British Plantation or East Indian sugar shall be reduced from 25s. 3d. to 163.4d.; that the duty on sugar iniported from India-from those parts of India into which foreign sugar may be imported-shall be 21s. 9d.; and that the duty on free- labour foreign sugar, that is clayed sugar or sugar equal to clayed, shall be-28s; thus retaining upon the whole the amount of discriminating duty which took place last year, viz. 10s. 6d., but applying that discriminating duty in a different man- ner; giving 9s. 44 as a protection on Muscovado sugar, and an increased protec- tion of llx 44 on the more valuable and costly article, viz. clayed or white sugar. The amount of the average discriminating duty therefore remains the same as last year. With respect to the duty upon molasses, we pro to reduce it in the same proportion. Then we propose to make-fru-6er re regulations as to the ad- mission of refined sugar. We -propose to remove the prohibitory duty on sugar refined imported from those British possessions which are entitled to import Mus- covado sugar at 14s. duty, and to place upon such sugar a proportionate import- duty, viz. on refined sugar 18s. 8d. and 21s. on double refined. [In answer to a question from an honourable Member on the Opposition side] - The 14s. duty will include the 5 per cent." Estimates of the probable supply of Bri- , tish sugar for the ensuing. year have been obtained from four independent sources. The lowest of these estimates is 280,000 tons ; the highest is 250,000: and if yon add the highest to the stock in hand, it will give a supply of 295,000 tons; if you take the lowest, it will give a supply of 275,000 tons. We consider that the redaction of duty, so far as duty enters into price, will amount to lid. par lb.-not quite so much; but if you add the other charges that accompany the ;high rate of duty, we think the total effect of the reduction of duty will be not much short of lid. a pound, because as the duty increases there are charges which tend to increase the rate of that duty." The revenue derived from sugar in the past year was 5,216,0001.; the probable loss from the reduction would be ,300

.1,0001. In the Tariff of 1842, he had abolished generally the duty on all exports, involving revenue to the amount of 108,0001., with the exception of some few articles: he now proposed to adopt as a general rule the abolition of export-duties on all articles, not excepting even coal. (Triumphant Oppo- alien cheers.) Throughout this discussion he was indifferent to any tem- , pantry triumph. (" Hear, hear !") He confessed that he had been disappointed as to the revenue from the coal ex- pert-duty; which was estimated at 160,0001., but did not yield 12001001. After having benefited the coal-owners by the removal of the export-duty, he did expect that they would give to the people of England the full advantage of the boon which they had received; and that the House would bear no more of their com- binations to restrict supply and to enhance price. There is a general impression that the price of coal sent to the Metropolis and to other parts of the country, is higher than the price of coal exported to foreign countries: if that be so, there could not be a more powerful justification of the export-duty. The total loss from the reduction of the coal-duty he estimated at 120,0001.

He announced a sweeping change of import-duties, the amount of which is in many individual cases very small.

"The Tariff now includes upon the whole about 813 articles. We propose to re- move the duty which is now applicable to a number of articles in amount not fewer than 480. In considering the policy of altering these duties, this material ques- tion arises, viz. whether it be desirable to abolish them altogether, or whether it.be desirable to retain a small and nominal amount of duty, for the pur- pose of preveoting fraud and the necessary acquisition of useful infor- mation. We have given a good deal of consideration to that subject. It is a difficult and important one. It will be absolutely necessary, in any event, to re- tain the proper mew, of inquiry with respect to the import of foreign articles. First, for the purpose of statistical information, it is very important to have the means of ascertaining the weights and quantities of articles imported. In the next place, it I. absolutely necessary to retain thepower of examination, because, of course, we must guard against the possibility of fraudby articles on which a duty ja leviable coming in under the pretence of their being duty-free. But upon the whole, we have arrived at this conclusion-that it as desirable, retaining the power of examinatioo,_ retaining the power pf ascertaining the quantities and weights, in making aloud arrangement of this kind in the receipt of the Cue- tams-duties, to abandon the duty altogether; rather than to retain it where it is vary trifling." In faVonr of .retain _ a Part, it might be said that it would 'aldose vigilance on the part of the Cos .or ,orme-efficers in ascertaining the weights and quantities if BOMB duty were to be levied : but by abolishing these duties alto- other they would get rid of a number of troublesome accounts. If fraud were p• ractised, he must apply to the House hereafter for the purpose of restoring a nominal duty and obtaining more stringent regulations against it. ("Hear!") "The articles that will be absolutely swept from the Tariff- will include 430 articles-fibrous materials, such as silk, hemp, and flax,whieh are now admitted on payment of a nominal duty. They will also include yarn, except worsted yarn, for which exception there is a particular mason. We also Foliose to abolish the duty on furniture-wood, animal and vegetable oils, ores and minerals, (except conper ore,) iron and tine in the first stage of manufacture, dyed stuffs, and drugs universally, except some that are very noxious." The Timber-duties it was not prepesed to alter: although they were said to have thrown away revenue by the last change, the duty on Baltic timber is increasing. Staves, however, were an exception : the duty on them could be lowered ; and! great benefit was anticipated to the 000pers' trade. The total loss on the reduction of minor import-duties enumerated would be 320,0001. He next considered the duty on Cotton-wool. The present duty on that article is (so far as revenue is concerned) .five-six- teenths of a penny per pound. But, as it is applicable to the whole amount of cotton-wool, and as about one-fifth of the total amount is unavailable for manu- factures, the duty presses thus, of course, with increased severitylon that portion of the produce which is used in manufactuie; and the calculation is, that you ought to add one-sixteenth to the five imposed by law, and that the whole amount of duty practically imposed is six-sixteenths of a penny. per pound, or three-eighths. Now, the price of cotton-wool is 4s1. per pound on the average; on which three- eighths of a penny is 9 per cent, then, of the price. But of (as has been the case) the price is not above 3d. per pound, the duty amounts to 12 per cent. on-. the value of the raw materiaL And this duty, so levied, falls with peculiar se- verity on the coarsest descriptions of goods. It is in respect to the manufacture of that coarser fabric that the manufactures of this country are exposed to the most formidable competition in South America, in China, and even in our own co- lonies." The reduction of the duty on sheep's-wool has had the best effects, and it constitutes an additional claim for cotton. He therefore proposed to abolish the duty on cotton-wool. The estimated loss is 686,0001.

Of all the Excise-duties, it may be said that they present a prima facie case for removal; but one article, about which there has been no clamour, the abolition of which would not obtain so much popularity as others, is particularly objectionable. [Sir Robert caused much laughter by heaping up epithets denoting the importance of the article, but reserving its name till the last.) It was the Auction-duty.

" This is a duty which is leviable in each part of the United Kingdom, and which was levied for the first time, with too little consideration, at the c.ommencement of the American War. It is one from which other transfers of property Aire (comparatively) free. But if you are compelled to sell your property by auction the duty is a heavy one, and it is one which presses most severely on persons when in distress. Can there be a greater confirmation of the injudiciousness of the impost than this-that since it was first leviable, the Legislature has granted exemption from it in no fewer than thirty-two distinct cases? When the misnomers were appointed to examine intothe Excise-duties someyears since, they reported thus on this duty, after carefully investigating the subject-4The ddxnttyy upon auctions should be among' the first ofthe taxes to be abolished.'" In 18#0, the amount of property transferred, of which it was necessary to take account, was 45,220,0001.; the exemptions extended to 36,000,0001.; leaving only 8,760,0001. on which duty was collected. He would repeal the tax. The loss would be 3000001. He would also modify the duty on auctioneers' licences. " Now, every auctioneer, under the present law, is compelled to take out a licence---a general licence in the first instance-of 51.; and if after that he be called upon to sell any particular article not included in that, be must take out another licence. And often auctioneers have to spend 251. in the year on licences, because of some arti- cles they are so called on to sell not being included in their general licence. I pro- pose, instead of this principle of separate licences, to enable auctioneers to dispose of all descriptions of property by taking out one licence, and to impose thereon a duty of thl. Probably the number of auctioneers will be increased by this mea- sure; and on the present number, 4,000, the duty of 151. on their licences would realize 60,0001.; against which, of course, is to be placed the reduction of the present auction-duty. Nor do I believe that the duty of 151. on the licences would be felt at all as onerous."

The duty on Glass has been trebled since 1815; it amounts to 200 or 300 per cent on the value of the article; and the Excise-regulations entail additional cost-

There is no Excise-duty upon glass in France, Belgium, or Bohemia. What is the consequence? That in Bohemia the manufacture of glass has been brought to an admirable degree of perfection by the application of chemical processes, by which the glass in different stages of its manufacture is exposed to different

degrees of heat, and contracts colours which produce a most beautiful effect. We have peculiar facilities in this country: we have the command of alkali and coal; and yet we cannot use them in the manufacture of glass. There is a great import into the bonded warehouses of this country of foreign glass ; and that foreign glass, so brought into our bonded warehouses, is afterwards exported, being liable to no duty, and is steadily beating our manufacture not only in foreign

countries but in our own colonies. it is almost impossible to foresee to what beautiful and useful purposes glass, fabricated under a system admitting the free

adaptation of capital and skill, may be applied. Why, we hear new of the balance- spring of a chronometer being made of glass. The balance-spring of a chrono- meter made of glass, substituted for the ordinary balance made, is found to possess a great degree of elasticity and a greater power of resisting the alter- nations of heat; but at present, the process of manufacturing is too expensive for use. A chronometer with a glass spring, however, has been sent out to the North Sea; and it kept the best time. - I read in a French paper last month, Le Cormier de l'Eur ope, that at a certain glass-manufactory in France they are now manufacturing glass pipes for the conveyance of water, which Will coat nearly 30 per cent less than pipes manufactured of iron, and which will bear

greater external pressure than Iron pipes. There is, then, a prospect of the adap- tation of glass tea most beneficial purpose. It is supposed, that for the corivey- awe of water, so far as the purposes. of health are concerned, glass pipes are

greatly entitled to preference: that is in a country where there is no excise-duty upon glass, and where the manufacture is entirely free from interferenee." The cost of collection amounts to 67 per cent on the produce of the tax. The repeal of the duty would give an impulse to engraving on plate-glass. The Irish Land Commission reported that a reduction of that duty would greatly increase the

comfort of the Irish people. Perhaps Ireland might become a glass-manufactur- ing country. And he went into some details to show that in health, in economy of- heat by double windows, &c., the repeal of the duty would be of more advan- tage to the public generally than repeal of the Window-tax. He would remove it altogether; the loss being 642,0004 The total loss by the proposed reductions is estimated asfioniloroci7;

Sugar .i in 118,000 Minor .articles imported, (the raw materials of mann- ' factures, including staves,) 320,000 Ortton-wool 680,000 Auction-duty Glass 250,000 640,000 Total ,uits to revenue £3,338,000

He admitted that this was .a bead experiment;' but,- looking at the reve- nuesfor the past year, if .after.:deducting a loss of 122,0001. which arose upon cotton-wool, and 61,0001. upon sheep's-wool, the Customs have in- creased, notwithstanding' the .reductions, by 1,305,0001., he was not **aid, though responsible for the financial condition of the country, to make this great expe.riment .upon the revenue. But he proposed that the Income- tax should be continued for a further limited period. Ile had been told That he would be disappointed Of his revenue from that tax— that the Assessed and othertaxes would proportionably diminish; but concurrently with The Income-tax there has been a material increase of revenue. "We propose the continuance of the Income-tax for a farther period of three years; not for the purpose of providing for the supplies of the year, but distinctly for the purpose of enabling us to make this great expetiment in the reduction of taxation. I will not say, in making these very extensive reductions, that it might not be a wiser course to give a longer period for the purpose of testing the efficacy of the plan which I submit; but at the same time I think it natural that Parlia- ment should ask to have the control over this tax, at a period not mere remote than that for which it was originally enacted. I have that confidence in the elasticity of the resources of this country, that I do expect, before the termination of the three years, that this repeal of taxes will have pro- duced its fruits, and that we shall find an increase of revenue enabling us tollispense with the continuance of the Income-tax. But remember, that the principle upon which we have gone, and gone advisedly, is the absolute repeal of taxation in many cases. We have not diminished the tax upon glass by one- : quarter or one-half merely; we have not diminished the tax upon auctions and upon cotton-wool, by-some small proportion: we propose their absolute repeal; and therefore, from the increased consumption of these particular articles we cannot expect an equivalent in point of revenue. But we doisope that the indirect and incidental affect will be, to cause increased consumption of many articles subject to duty, and by invigorating the industry andextending the commercial enter- prise of the country, to supply that void Which we cannot hope to supply by direct taxation."

He had now executed. his task; and with an earnest expression of his desire that the measure might produce thegreatest possible amount of good without alarm or disturbance of important interests, he concluded by moving the subjoined resolution; at the same time stating that he should ask the decision of the House upon it on Monday- " That it is the opinion of this Committee, that, towards raising the Supply to her Majesty, the respective duties on Property, Professions, Trades, and and the Stamp-duties in Ireland, granted by two several Acts passed in the fifth year of her present Majesty, be continued and further granted to her Majesty for a time to be limited."

.A short conversation followed; the House generally receiving the state- ment with great satisfaction, especially on the Opposition side. Several Members hinted objections to this or that .point. Lord 'Jo RUSSELL promised a review of the whole scheme on Monday, and intimated strong dislike to-the proposal about the Sugareduties: others regretted the omis- sion of particular taxes, or retention of the Income-tax. In reply to some questions, Sir Rona= Pant, said that the change of duties would take effect at once; except as respects, the Glass-duties, the .change in which would be postponed for two or three months, to allow the manufacturer to

complete his exports. .

Having resumed, the House adjourned at.a quarter-past nine o'clock, till Monday.

'In the House of Lords, the Marquis of NORMAISBY presented the petition adopted at the -Exeter Hall meeting in December; for measures to improve the sanitary condition of the people. The Duke'of BoocrEncn stated that thesullject was under the serious consideration of Government.