amely, the mode in
which this surplus was to be applied to the relief of taxation. If
the property-tax were continued, ministers intended to make a great
experiment with respect to taxation; and in explaining their views Sir
Robert Peel said that he would first take the customs, and submit to
the house a proposition with respect to the duty on sugar. On brown
Muscovado sugar, which now paid a duty of 25s. 3d., he proposed to
reduce the duty to 14s.; on free-labour sugar he proposed that the
protecting duty should not exceed 9s. 4d., and therefore the duty would
be 23s. 2d.; on British plantation sugars he proposed that the duty
should be 16s. 4d., instead of 25s. 3d.; that the duty on sugar imported
from India should be 21s. 9d.; and that the duty on free-labour
foreign sugar should be 21s. 9d.--thus retaining the whole amount of
discriminating duty which was imposed last year, but applying that
discriminating duty in a different manner; giving 9s. 4d. as a
protection on Muscovado sugar, and an increased protection of lis. 4d.
on the more valuable and costly article. Sir Robert Peel said that he
proposed to reduce the duty on molasses; and after giving an estimate
of the supply of sugar which he considered likely to come from our
possessions this year, stated that the effect which would be produced on
the price of sugar by this reduction in the duty would be a reduction of
three halfpence per pound. The estimated loss to the revenue from this
source would be L1,300,000. Sir Robert Peel next proceeded to state
that in the tariff of 1842 he had abolished generally the duty on all
exports, with the exception of some few articles: he now proposed to
abolish the duty on all articles. By this plan the export duty on coal
would cease to exist, which would be a loss to the revenue of L120,000.
He next proceeded to a consideration of the duties on raw materials used
in manufactures: the tariff included eight hundred and thirteen such
articles, and he proposed to remove the duties applicable to four
hundred and thirty of them; which would occasion a loss to the revenue
of about L320,000. He next stated that he was prepared to abolish the
duty on cotton-wool, which would cause a loss to the revenue of not
less than L680,000. These were all the alterations he proposed in
the customs; and the right honourable baronet next proceeded to the
excise-duties. Among the duties which he proposed to to repeal was the
auction-duty on the trans