On the 31st of April, the chancellor of the exchequer entered into his financial statement. When he came forward last year, he said, he had anticipated that the expenditure would amount to £49,499,000, and the income to £48,641,000; leaving a deficiency of £858,000. The results of the year had proved less favourable than he had anticipated: the expenditure had amounted only to £49,285,000, but the income had only reached £47,443,000, leaving a deficiency of more than £1,840,000. He calculated that the expenditure for the ensuing year would be £50,731,226, and the income £48,310,000, which would leave a deficiency of £2,421,000 to be provided for. In order to raise the revenue, Mr. Baring proposed to deal with the two articles, timber and sugar. The present duty on colonial timber, he said, amounted to ten shillings a load, and on Baltic timber fifty-five shillings. These duties he proposed to modify, by raising that on colonial to twenty shillings, and reducing that on Baltic to fifty shillings a load, by which he anticipated an increased revenue of £750,000. He next explained that the alteration which he intended to propose in the sugar-duties would still leave a protection of fifty per cent. to colonial sugar. He would leave, he said, the duty on colonial sugar at the present amount of twenty-four shillings per cwt., but that on foreign sugar, amounting to sixty-three shillings, he proposed to reduce to thirty-six shillings per cwt.; from which change he expected an augmentation of revenue of £700,000. There would still, he said, be a deficiency to be provided for. But Lord John Russell had that evening given notice of his intention at an early period to submit the question of the corn-trade to the consideration of the house; and if the propositions of his noble friend were agreed to, he should be under no uneasiness about the deficiency; if not, it would be his duty to make provision by direct taxation. Messrs. Hume, Ward, Villiers, and other members, expressed their satisfaction at the propositions of the chancellor of the exchequer, while Lord Francis Egerton, Viscount Sandon, Sir Robert Peel, and Messrs. Goulburn and Christopher, complained of them, and especially of the announcement of an intended alteration in the corn-laws. The debate on the budget was protracted to a considerable length, and the nature of the discussion will be seen in the following article.
DISCUSSION ON THE CORN-LAWS.
The announcement made by Mr. Baring, that an alteration in the corn-laws was contemplated by government, caused the anti-corn-law party to set to work with activity to organize new associations, to despatch lecturers and emissaries, which might rouse the public mind throughout the country, and to get up requisitions for public meetings in the principal towns. In parliament, also, the opposition lost no time in coming to the attack. On the 3rd of May, the Duke of Buckingham presented one hundred and twenty petitions against a repeal of the corn-laws.
In the house of commons, Viscount Sandon gave notice of the following resolution, which he would move on going into the committee of ways and means: “That, considering the efforts and sacrifices which parliament and the country have made for the abolition of the slave-trade and slavery, with the earnest hope that their exertions and example might lead to a mitigation and final extinction of those evils in other countries, this house is not prepared, especially with the present prospects of the supply of sugar from the British possessions, to adopt the measure proposed by her majesty’s government for the reduction of the duty on foreign sugars.” Lord John Russell gave notice, in the event of the house not going into committee on the sugar duties, and Viscount Sandon’s resolution being put from the chair, he should move a counter-resolution; namely, “That it is the opinion of this house, that it is practicable to supply the present inadequacy of the revenue to meet the expenditure of the country, by a judicious alteration of protective and differential duties, without any material increase of the public burdens; that such a course will, at the same time, promote the interests of trade, and afford relief to the industrious classes, and is best calculated to provide for the maintenance of the public faith and the general welfare of the people.” A third notice was given by Mr. O’Connell, to the effect that any diminution of the duty on foreign sugar should be limited to that which was produced by free labour, and not extend in any way to the produce of slave labour. The debate on the sugar question was preceded by the presentation of petitions both for and against the alterations proposed by government. In commencing the debate, which lasted eight nights, Lord John Russell took the formal motion for going into committee out of Mr. Baring’s hands, and availed himself of the opportunity for pre-occupying the ground, and anticipating the arguments of his opponents. In his speech his lordship remarked, that if this had been merely a financial question, he should have left it in the hands of the chancellor of the exchequer. He regarded it, however, as constituting, by the variety and magnitude of its relations, a great national subject. Government were well aware, he continued, at the commencement of the year, that the finance of the country was matter of great difficulty, and would require great attention. Their resolution to consider the corn-laws was formed before the 11th of March, when the notice was given that the colonial duties would be reviewed.
Government had to meet a deficiency of £2,400,000. It was open to the house to have objected to the expenditure at the time; but now to oppose the going into committee of ways and means, without suggesting any other plan as preferable to that of the government, was unworthy of a great party. Ministers had preferred the plan of altering the import duties, as now proposed, for the purpose of relieving instead of oppressing the people. Being prepared to deal with sugar and timber as questions of revenue, they would not have been justified in excluding the other great question, that of corn; especially with their opinions on the merits of that question, and their belief that, sooner or later, it must be made the means of an extensive change in the commercial situation of this country. Before the house had gone into committee, Lord John Russell had announced the rate of duties which he meant to propose on corn; namely, on wheat, a duty of eight shillings per quarter; on rye, of five shillings; on barley, of four shillings and sixpence, and on oats, of three shillings and sixpence. His lordship now said that the duties he meant to propose, added to the charge of freight, would constitute a sufficient protection, keeping the price of wheat, in all probability, at from fifty to sixty shillings a quarter. With respect to sugar, he considered the true principle was protection, not prohibition. He entered into some details, for the purpose of showing that West Indian interests would be protected under the proposals of ministers, and that freedom of commercial intercourse among nations had a tendency to improve and cheapen the productions of each. By the admission of foreign sugar, his lordship said, the industry of the West Indies would be stimulated to better means of production, and the English labourer would obtain his sugar on more reasonable terms. His lordship next entered into various statistical details, to prove that the great measure of slave emancipation had been eminently successful; and that the condition of the negroes was not only promising, but prosperous. On Lord John Russell’s resuming his seat, Viscount Sandon rose to propose a resolution of which he had given notice.
Lord John Russell then moved pro forma the resolution of which he had given notice as an amendment to Viscount Sandon’s; but it was negatived without a division; and that of Viscount Sandon’s being carried, the house adjourned. After this defeat it was generally expected that ministers would resign; but on the next day business was resumed, and carried on as though nothing of importance had happened; and when business was over Lord John Russell simply moved that the house at its rising should adjourn to the Monday following. The Earl of Darlington, on hearing this, said that he had been relieved of all suspense as to the intentions of government: it was plain that they meant to stay in office with a tenacity unparalleled in the history of governments, and with the deliberate decision of the house of commons unequivocally declared against them. He asked when Lord John Russell intended to bring forward the question of the corn-laws. And his lordship replied, “On Friday, the 4th of June;” but before that day arrived ministers had suffered another signal defeat, and were compelled to postpone the subject.
RESOLUTION OF WANT OF CONFIDENCE IN THE GOVERNMENT.
On the first day on which the house met after its temporary adjournment, Sir Robert Peel gave notice that he should move, on the 27th of May, this resolution:—“That her majesty’s ministers do not sufficiently possess the confidence of the house of commons to enable them to carry through the house measures which they deem of essential importance to the public welfare; and that their continuance in office under such circumstances is at variance with the spirit of the constitution.” On the day named the right honourable baronet introduced this resolution with a speech of considerable length and ability. The debate which ensued lasted five nights; in the course of which much was said for and against the motion. The leading speakers in support of it were Lord Stanley, Sirs James Graham and William Follett, and Messrs. Christopher and Sergeant Jackson; those against it were Viscount Morpeth, Sir George Grey, Dr. Lushington, and Messrs. Macauley, Handley, O’Connell, and Shiel. Towards the close of the debate, Lord John Russell denied that the motion was in the spirit of the constitution, and ably defended his own conduct and that of his colleagues in retaining office. Sir Robert Peel briefly replied; and on a division the motion was carried by a majority of three hundred and twelve against three hundred and eleven. After this division, Lord John Russell announced that he would state on the following Monday the course which the government should resolve under existing circumstances to pursue.