have been able to meet the charges of an expensive war during a series of years with only a moderate addition to the public burthens. The ministry, of which Lord Henry Petty formed a part, having gone out of office before the next annual finance arrangement was brought forward, his plan was abandoned, and no attempt has since been made by any minister to form financial arrangements embracing the circumstances of future years.

The explanations offered each year in the House of Commons by the Chancellor of the Exchequer, concerning the financial condition of the country, are not given in such form as to be readily understood. In the accounts by which the statements are accompanied, the interest of the debt and other permanent charges are not included, and on the other hand nothing is stated regarding the produce of the permanent taxes, forming what is called the consolidated fund, except the amount of its surplus or deficiency, as the case may be, after providing for the permanent charge upon it. The Budget, as it is the practice to call this annual exposition, explains on the one hand the sums required for the public service during the year, under the different heads of Navy, Army, Ordnance, and Miscellaneous Services, together with any incidental charges which may apply to the year; and on the other hand are given the ways and means for meeting the same. These ways and means consist of the surplus (if any) of the consolidated fund, the annual duties, and such incidental receipts as come in aid of the national resources.

The detail of these budgets would consequently throw but little light upon the financial condition of the country, if even they had been preserved in an authentic form, which has not been done. Any statements of the kind that could be offered must be drawn from unauthorized publications, in which they have been given without regard to methodical arrangement, while, as respects some years of the series, we should seek in vain for any statement whatever.

CHAPTER III.

PRODUCE OF TAXES.

Taxes Imposed 1801 to 1849-Taxes Repealed 1814 to 1849-Produce of Taxes in proportion to Population-Probate and Legacy Duties-Customs and Excise Duties"Taxes"-Post-office Duties-Duties of Protection-Retaliatory Duties-Their effect on Foreign Governments.

THE following tables exhibit, 1st, the estimated amount of taxes imposed under each of the five chief heads of revenue; viz., Customs, Excise, Stamps, Taxes, and Post-office, in each year of the present century; and, 2nd, the estimated amount of taxes repealed, expired or reduced, in each year from the peace, in 1814, to the present time.

Estimated Produce of Taxes imposed in each Year from 1801 to 1849.

Estimated Produce of Taxes imposed in each Year from 1801 to 1849-continued.

Estimated Amount of Taxes repealed, expired, or reduced, in each Year from 1814 to 1849.

1821

19,932

73

1822

153, 146

1,456,000

23,920

14,631,477
31,631

504
195,651

451,304 238,000 2,383,143

25,000

17,547,365

36,495 9,504 269,484 4,000 471,309 2, 139, 101

4,185,735

274,554

11,935

1,801,333

536,000

1,134,200

66,400

1,967,215

2,300

80,000

84,038

The figures which apply to the earlier years in the first of these tables 1801 to 1803) are taken from the budget-speeches of the Chancellors

of the Exchequer; those which relate to the subsequent years, as well as the amounts given in the second table, are afforded by papers prepared in the different revenue departments, and laid before Parliament.

At first sight these statements appear in a high degree satisfactory, inasmuch as they show that the amount of duties and taxes repealed since 1814 exceeds the amount of those imposed since 1801 by more than 10 millions. So far as these branches of the revenue are concerned, the public income in 1849 exceeded that of 1801 by 19 millions -showing, under those heads, a virtual increase of 29 millions between the two periods. If, however, we submit these data to a more careful examination, the result will prove far less flattering. With the view of testing the progress of this very important subject, the following statements are offered, in which the actual produce of the principal heads of taxation is given at the periods of 1811, 1821, 1831, 1841 (the years in which the census has been taken), and in 1849; and some calculations are offered to show what the produce should have been proportionally to the increase of the population of each period.

In preparing these statements, it has been found necessary to throw together the Customs and Excise duties, because of the numerous transfers effected between these two departments, as regards the collection of revenue. The produce of these two branches of revenue is generally considered to afford a good test of the condition of the people, as shown by their power of consuming the articles upon which Excise or Customs duties are charged; so that an increase in their produce has always been held to indicate an increase of comforts brought within the reach of the mass of the population. The amount of Customs and Excise duties collected in 1801 was 19,330,8677. Since that time new duties, amounting to 25,797,0687., have been imposed, and duties that produced 31,935,8407. have been repealed. Under these circumstances, the amount collected in 1849 was 34,622,2847., being 15,291,4177., or 79 per cent. beyond the collection of 1801; the population having increased about 77+ per cent. If a similar examination is made in regard to the produce of stamp-duties, and duties under the management of the Board of Taxes, it will be found that under the first of these heads the increase has been nearly 100 per cent., and under the head of Taxes. the increase has been about 50 per cent. Under the remaining headthe Post-office-we are still in what may be called a transition state consequent upon the radical change in the rates introduced in 1839, and no fair deduction can yet be drawn from the result hitherto experienced as regards revenue. It will be seen, however, that in 1831, when the rates were at their highest, the deficiency as compared with population was nearly 25 per cent.

That the increased consumption of taxed commodities should not be greater than it is, as compared with the consumption in 1801, must strike every one with surprise, who observes the increasing power of the

mass of the people to command the comforts of life; but this fact will assume a much more instructive shape by means of the following statements, which prove that, however unsatisfactory the case may be considered at this moment, it was far more so at the earlier periods to which those statements relate, and that the change for the better may be clearly referred to the modifications which of late years have been made in our tariff.

Statement of the Progress of the Principal Branches of the Public Revenue at different Periods during the present Century, showing the actual produce of Taxation, and its produce in comparison with the increased Population.

Amount which should have been received, taking into account

the increase of 13 per cent. of 39,961,610 4,714,612 23,940,707 1,389,213 70,006,142 population

Amount to be received in 1821 36,878,260 4,172,893 6,297,567 1,428,576 48,777,296 by computation. Amount actually collected in 1821 38,765,814 6,513,599 7,814,690 1,383,538 54,477,641