yet ventured to state upon the subject. That duty I estimated to produce the sum of 1,200,000l. I have the best reason for believing that the actual produce of it will be much beyond that sum. In addition to this duty upon exports and imports, and which, as far as can be done without diminishing our resources, which must be contemplated with the greatest exultation, because they prove the extent of our commerce, in addition to that -duty, now that the whole trade of the West Indies is centered in this country, a reduction may be made with advantage to the nation in the large sums paid upon drawbacks, and bounties of exports. Into this subject, however, it is not my intention to enter at the present moment. I mention it because it will make an increase to the tax upon exports and imports, which I have every reason to believe will amount, with that increase, to 1,700,000l. I have thus enumerated the principal articles : The land and malt £2,750,000 200,000 The growing produce of the consolidated fund 1,500,000 1,700,000 Total £6,150,000 The remainder of the sum is that which must be raised either by a tax within the year, in the same manner as the assessed tax-bill of last year, or by a loan. It will be to be considered, how the committee will divide that remaining sum between them. The sum to be provided for is upwards of twenty-three millions. Gentlemen will recollect, that, in the debates upon the subject of the assessed taxes last session, two fundamental principles were established as the rule by which we should be guided in providing for the supplies for the service of the year. These were, first, to reduce the total amount to be at present raised by a loan; and next, as far as it was not reducible, to reduce it to such a limit, that no more loan should be raised than a temporary tax should defray within a limited time. In the first place, the tax acceded to by the House last session was for the purpose of providing for the supplies of the year; and in the next place, for the purpose of extinguishing the loan raised in that year. From the modifications, however, which that measure underwent after its being first proposed; the produce of it was diminished to a considerable extent. Other means indeed were adopted to remedy the deficiency which was thus occasioned. The voluntary and cheerful efforts which, so honourably to individuals, and to the country, came in aid of the deficit of the assessed taxes, and the superior produce of the exports and imports beyond the estimate, brought the amount of the sums raised to that at which they had been calculated. The different articles were estimated at seven millions and a half, and this sum is fully covered by the actual receipt under the different heads. It gives me, indeed, the most heartfelt satisfaction to state, that notwithstanding the difficulties which the measure encountered from the shameful evasion, or rather the scandalous frauds by which its effects were counteracted, the total amount which was expected has yet been realised. The meanness which shrunk from fair and equal contribution has been compensated to the public by the voluntary exertions of patriotism. The produce of the assessed taxes, under all the modifications, and all the evasions, is four millions. I had taken it at four and a half after the modifications were adopted. This deficiency is supplied by the excess on the head of voluntary contributions. In proportion as the one had fallen short of the estimate, the other has gone beyond it in favour of the country. If I did not calculate the evasion, the fraud and the meanness which have struggled to defeat the operation of the assessed taxes, and I mention it with shame that in a moment like the present, in a contest so awfully interesting to every individual and to the nation, there have been men base enough to avail themselves of the general modifications which were intended to relieve those who might have been called upon to contribute beyond their means, to avoid that fair assessment which corresponded with their circumstances, I am happy to find that the honour of the nation has been vindicated by the noble and generous aid of voluntary contribution, and that the sum which I had stated is greatly exceeded. Not only in this country but in every part of the British dependencies the patriotic spirit has displayed itself, and wherever they were placed, the subjects of England have shewn themselves worthy of the relations by which they are connected with their country. Instead of 1,500,000l. the voluntary contributions already exceed two millions; and the sum of seven millions and a half, for which credit was taken, has been effective to the public service. Satisfactory as it must be to review the circumstances to which we owe these advantages, and the benefits which the mode of raising the supplies to a considerable extent adopted last session has produced, it is unnecessary for me to state, that, however the principle may deserve our approbation, it is still much to be desired that its effects should be more extensive, and its application more efficient. It is in vain to disguise that, by the causes to which I have alluded, the full advantage of the principle has not been obtained. The wishes and the interest of individuals, I am sure, must unite in demanding a more comprehensive, a more equal, and a more vigorous application of a principle, the rare advantages of which we have been able to ascertain, if we have not yet been so fortunate as to enjoy. Last session those who acknowleged the importance of the principle of raising a considerable part of the supplies within the year, confined their objections to the proportion fixed upon the scale of the assessed taxes, as unequal in its application, and liable to great evasion in practice. Though not insensible of the weight of the objection, I then felt it my duty, convinced as I was of the immense advantages of the system, to adopt some visible criterion by which to estimate and to regulate the extent of contribution, if it was not possible to devise means of embracing fully every class of property, and every source of contribution. I felt it materially important to follow some durable, some apparent and sensible criterion, by which to apportion the burden. At the same time I felt, that although the assessed taxes furnished the most compreliensive, and most general, and the most efficient scale of con tribution, there necessarily must be much income, much wealth, great means, which were not included in its application. It now appears that not by any error in the calculation of our resources, not by any exaggeration of our wealth, but by the general facility of modification, by the anxiety to render the measure as little oppressive as possible, a defalcation has arisen which ought not to have taken place. Yet under the disadvantage and imperfections of an unequal and inadequate scale of application, the effects of the measure have tended to confirm our estimates of its benefits, and to encourage us to persevere in its principle. Every circnmstance in our situation, every event in the retrospect of our affairs, every thing which strikes our view as we look around us, demonstrates the advantages of the system of raising a considerable part of the supplies within the year, and ought to induce us to enforce it more effectually to prevent those frauds, which an imperfect criterion and a loose facility of modification have introduced: to repress those evasions so disgraceful to the country, so injurious to those who honourably discharge their equal contribution, and, above all, so detrimental to the great object of national advantage which it is intended to promote. In these sentiments our leading principle should be to guard against all evasion, to endeavour by a fair and strict application, to realise that full tenth, which it was the original purpose of the measure of the assessed taxes to obtain, and to extend this as far as possible in every direction, till it may be necessary clearly to mark the modification, or to renounce, in certain instances, the application of it altogether. If then, the committee assent to this principle, they must feel the necessity of following it up, by a more comprehensive scale and by more efficient provisions. They will perceive the necessity of obtaining a more specific statement of income, than the loose scale of modification, which under the former measure permitted such fraud and evasion. If such a provision be requisite to correct the abuses of collection, to obviate the artifices of dishonesty, to extend the utility of the whole system, it will be found that many of the regulations of the old measure will be adapted to a more comprehensive and efficient application of the principle. If regulations can be devised to prevent an undue abatement, and to proportion the burden to the real ability, means must be employed to reach those resources which, primâ facie, it is impossible under the present system of the assessed taxes to touch. While inaccuracy, fraud, inequality, be grievances, which it is desirable to remedy, it will be an additional satisfaction, that when compelled to adopt means to prevent the defects of which we complain, we shall be enabled likewise to improve and to extend the benefits we have obtained. The experience which we have had upon the subject, proves that we must correct and remedy, in order to secure the advantages which the measure is calculated to afford. It is in our power to make them our own. I think I can show that whatever benefit the principle upon which we have begun to act, is fitted to bestow, may by a liberal, fair, and efficient application, be carried to an extent far greater than has yet been obtained, an extent equal to every object of great and magnanimous effort, to every purpose of national safety and glory, to every advantage of permanent credit and of increased prosperity. Impressed then with the importance of the subject, convinced that we ought, as far as possible, to prevent all evasion and fraud, it remains for us to consider, by what means these defects may be redressed, by what means a more equal scale of contribution can be applied, and a more extensive effect obtained. For this purpose it is my intention to propose that the presumption founded upon the assessed taxes shall be laid aside, and that a general tax shall be imposed upon all the leading branches of income. No scale of income indeed which can be devised will be perfectly free from the objection of inequality, or entirely cut off the possibility of evasion. All that can be attempted is, to approach as near as circumstances will permit to a fair and equal contribution. I trust that the opinion of the country will concur with the disposition of parliament to give that energy to our exertions, to give that stability to our resources, which our present situation and our future prosperity demand. I trust that all who value the national honour, and the national safety, will co-ope |