e chairman
do report progress," which were all negatived by large majorities, Sir
Robert Peel was compelled to defer the measure till the 4th of April.
The income-tax was resumed immediately after the Easter recess. The
first resolution, to impose a tax of sevenpence on every pound upon all
incomes, except the incomes of occupiers of land, was put and carried
without discussion. On the second resolution, however, imposing a tax on
the occupation of laud, calculated at the rate of threepence-halfpenny
in the pound on the yearly value being read, Lord John Russell pointed
out the operation' the tax might have in inducing landlords to split
their farms, so as to make the rental of each below the amount liable
to taxation; and gave notice that, on the report of the resolutions, he
should move this amendment:--"That it has been stated to this house,
on official authority, that the deficiency of income to meet the
expenditure of the country, may be estimated for the years ending the
5th day of April, 1842, at L2,350,000, and on the 5th day of April,
1843, at L2,569,000. That this house is fully sensible of the evil of a
continued inadequacy of the public income to meet the expenditure, and
will take measures for averting the same in future years. That, by
a judicious alteration of the duties on corn, by a reduction of the
prohibitory duty on foreign sugar, and an adjustment of the duties on
timber and coffee, the advantage of a moderate price to the community
may be combined with an increased revenue to the state. That, in
addition to those main articles of general consumption, the interests of
trade will be promoted by the repeal or reduction of various prohibitory
and differential duties, and that extended commerce will improve the
revenue, whilst it gives employment to industry. That the amount of
taxes taken off, or reduced, from the termination of the last war to the
end of the year 1836, exclusive of the tax on income, may be stated in
round numbers at L23,873,000. That the income-tax, having been first
imposed in a period of extreme emergency and during a most perilous war,
was repealed on the re-establishment of peace; and having been again
imposed on the renewal of war, was again repealed in 1816, on the
termination of hostilities. That considering the various means of
supplying the deficiency without enhancing the price of the necessaries
of life, or embarrassing trade, it is the opinion of this house that
the renewa