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the consolidated fund, and issue of exchequer dills; and Jastly, an augmentation of the duties of excise and customs, and a separate tax on property. The last I with io be condered solely as a resource applicable to the war. The ways and means will then be as follows:-

WAYS AND MEANS. Land and malt voted annually

2,750,000 Exchequer bills Although authority has been

given by Parliament for an iffúe of four
millions, take only

3,000,000 Surplus of the consolidated fund

0,500,000 Before Christmas I ventured 10 calculate tipon

this sum as the produce of the consolidated
fund. That calculation was formed upon
the estimate and returns, as far as then ar-
certained, of the taxes laid in 1802, and it
is fully justified by the accounts now upon
the table. This, however, is not the

per time to enter into discussion of the
correctness of the eltimale, because I do
not now ask the Committee for a vote
upon the subject. I merely submit the
ftatement as part of the means for raising
the resuurces of the year. When it comes
to be voted, it may be inquired how far the
amount is likely 10 accord with the esti-

It is proposed to liquidate certain advances made

hy ihe bank by an issue of exchequer bills,
which, it is hoped, that the bank, with
that fpirit of accommodation to the public
service which they displayed last war, will,
from the same motive, be now inclined to
accept. The debt due to ihe bank on this
head would therefore be paid by an issue
of exchequer bills, on aids of 1804, to that

Money in treasury, residue of bounties on
hemp, &c.


400,000 WAR RESOURCES. I now come to the ways and means by which I propose to raise the ainount of the sum which I have stated to be neces. Gary for thc service of the year. The three great objects to



T 2

which I look as the fources of this revenue are the excise and custom duties, on which I intend to submit to the Committee a large augmentation ; and a tax upon property.

If it should be the pleasure of the Committee to agree with mç as to the propriety, I wish it to be distinAtly understood that I consider these duties as applicable to war only, and I intend to propose that they should ceale within a certain period, probably six months after the restoration of peace.

In the first place, then, considering the advantages which the West India merchants and proprietors must derive from the present circumstances of Europe and of this country, by which they will have almost a monopoly of all West India produce in every market, I think that the commodisies in which they are interested present a fair object of taxation, My intention, therefore, is to propose to lay a very considerable additional duty on what may now be deemed a necessary of life-I mean sugak. The increase of duty in contemplation is 4s. per cwt, or 20 per cent, on the duty now paid,

I propose also that iwelve and a half per cent. on the exilting duty shall be paid on all iMPORTS, with the exception of four great articles, tea, cuffee, wool, and wine, which I do not reserve in the view of complete exemption, but with the view of subje&ting them to the tax in a different manner. On this branch, combined with the preceding, I estimate the produce at 1,300,000l. (Mr. A. did not here read ihe results, so that we could not learn how he distributed the proportion, but we believe it was 1,000,00ol. to the former, and 300,000l. to the latter.)

The same adyantages which West India produce will obtain in every market, our home manufactures will enjoy, notwithstanding every endeavour to oppose their circularion. While that monopoly continues, it is but just that they should conıribute to the public service a part of ihat advantage. I 1hould therefore hold myself without excuse if I vid not submit to the Committee a proposal for drawing a considerable supply from this source. I therefore propose that one per cent. ad valorem should be imposed on all EXPORTS 10 any part of Europe, and three per cent. on exports to all oiher paris. This branch I estimate at 460,oool.

When the import duty was first imposed, manufactured cotton was exempted from duty, and it was thought adviseable to lay the borded upon the raw material. A duty of one penny per pound was iherefore laid upon COTTON WOOL, On the same grounds I now propose to exempi manufactured Cotion from the tax, while the duty is increa'ed to aboit one penny per pound on coton wool exported. From this I expect that there will be received 250,000).


During the war, I propose likewise that the duty of topNAGE ON SHIPPING Iliall be continued, as it is not probable that it will be attended with any inconvenience, Here will arise perhaps about 150,000l.

These different items will be
On sugar and imports

1,300.000 On export manufactures

460,00 Cotton wool exported

250,000 Navigation


Total on Customs

2,160,000 As there will be some alteration respecting drawbacks, &c. I rate the net produce on the head of customs at iwo millions.

The next branch is the excise. It is not my inieniion 10 propose any alteration on the great mass of excifeable arii. cles. I intend to confine myself to fome leading ones on which a war tax fhall, with the approbation of Parliament, be laid.

The first obje& then is tea. I am ready to confess that, except during war, when we possess the means of in:ercepis ing the communications of the smugglers, and protecting the fair trader, any additional tax might be impolitic. But, convinced that the enterprises of the illicit dealer my be defeared, and fufficient fecurity given to the fair trader, it appears to me that this article is a fair object of laxation in the present circumstances. I therefore propose that an additional, duty of 15 per cent. ad valorem, shall be laid on coarsur lease, and 45 per cent. ad valoremi, on teas of a higher qualiry. The effect of his addition will be, to raise the price of higher teas. somewhat above what they were previous to the commutation act, and to leave the coarser teas somewhat lower. This I calculate at 1,3-0,oool.

The next ariicle is wine. In no respect does it appear to me that any objection will lie against this tax, either as to the severity of its operation, or its effect upon the general produce of the revenue. Io the year 1705, vol. per pipe was imposed on wine, but it has been found by experience that the consumption has continued to advance, and that both the old and new dyties have increased. I propose, therefore, that

10l. per ton, additional duty, shall be laid on wine, the produce of which I eftimate at 500,oool.

The same considerations lead me to propose, that both foreign spirits and home spirits thould be subjected to an additional tax. At present the rate is 5s. 2d. per gallon on foreign and home spirits; and my intention is, that there shall be an increase of five per cent. on the existing duties. The aimount of the additional revenue I estimate at 1,500,000l.

The next article is one upon which I touch with reluc. tauce; but, however I may feel myself unwilling to propose any burden, extensive in its operation, and considerable in its pressure upon those comforts we must all be disinclined to abridge, yet I thould think myself wanting in duty if I did not propose to reinforce the public revenues at such a moment from every quarter froin which there is a prospea of obtaining with least compara:ive inconvenience. I am convinced, however, that those who feel the importance of the cause in which we are embarked, and the fake fut which we conierid, will bear with clearfulness the burdens it imposes. The mass of the community are fenfible of the litu. ation in which we are placed, and will contribute every effort and make every sacrifice to the public safety. The arricle of taxation to which I now allude is MALT. All must agree that the present profits of the brewer are, to say nothing more, very considerable, though I admit that, for a long period during the last war, they carried on their trade with very linile advantage, if not with loss. At present, however, I thall propole fuch an augmentation of tax as will give to the public its full amount, leaving to the brewer the whole benefit of his profits as they now ftand, which are underfood to be large and literal. I propose, therefore, that an additional duty of two shillings per bushel thall be laid on malt; and this I estima:e will produce 2,700,00cl. Lalt year the additional tax on mali was 2, and, as far as can be collected from the receipts hitherto made, there is every reafor 10 believe that it will be available in the full extent of the calculation. Allowing for the operation of the lax now proposed, there will be one fhilling per barrel to be divided bei ween the maliter, the brewer, and the consumer. The brewer may be allowed eighe pence per barrel for the addisional capital which the tax will oblige him so einploy, and will afford him a lullicient profit on his trade. It would have been improper had I proposed a lax like the


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present, which will affe& the numerous class of the community, without laying an additional tax also upon the beverage of the higher clalles; and it will be found on comparison that the beverage of the latter has been affected in by far the greatest proportion. It will be found, that even including this increased tax, the additional duty on beer has not been more than 45 per cent. for the last 40 years, while in the taxes on wine and spirits i he increase has been upwards of 200 per cent. should the present additional duties be approved by the Committee. I cannot think, therefore, that the tax on malt can be liable to any very considerable objection.

The whole sums 1o be raised on the head of Excise will be as follows: Tea

£ 1,300,000 Wine

500,000 Foreign and home spirits

1,500,000 Malt


Total of excise

6,000,000 2,000,000

: Customs and excise

8,000,000 In addition to those resources, on which I calculate with some degree of confidence, I have to propose another measure of extensive operation, which in principle resembles the income tax now repealed. That tax, however reprobated by some, however unpopular out of doors, though, indeed, I am convinced that the principle of it must always have been approved by the majority of intelligent men, I must ever contend, was productive of the greatest benefit to the public. I ever did think, and still think, that the income tax was the great inftrument of supporting public credit, and carrying us safe through the late arduous contest. This I do not state as matter of upinion, but as that which is capable of positive proof. I do not mean to say, that in its operation it was not liable to objections, but what measure of finance is wholly free from objections and if we were to look merely at what might be plausibly urged against any tax without viewing its comparative advantages, it would be impoflible to raise any supplies for the service of the state. One of the great incunveniencies of the income iax was, that the collection of it made a disclosure of the circumstances of individuals necessary, and this inconvenience, in as far as it may atiach to the measure I am now about to propose, it thall be our endcayour by every means in our power to prevent.


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