MR. LOWE’S BUDGET: THE MATCH-TAX (1871).
Source.—The Illustrated London News, April 22, 1871.
On Thursday the Chancellor of the Exchequer made his usual financial statement. It appeared that the deficiency this year amounted to £2,800,000, and the right hon. gentleman proposes to meet it by increasing the probate and legacy duty; in the first degree from 1 to 2 per cent.; in the second degree from 3 to 3½ per cent., and in the third degree from 3½ to 5 per cent., estimating the gain to the revenue of about £1,000,000. He also proposed to equalise the duties payable on testate and intestate property, making it in all 2 per cent. He next proposed to put a halfpenny stamp on each box of lucifer matches containing not more than one hundred, and a penny on each box of vesta matches containing not more than one hundred. By the former he expected to gain £550,000, and £300,000 by the latter. This, he estimated, would reduce his deficit to £1,950,000, and that he proposed to make up by increasing the income-tax from £1 13s. 4d. to £2 4s. per cent., which he calculated would make up the remaining deficit.
OPPOSITION TO THE MATCH-TAX.
Source.—The Illustrated London News, April 29, 1871.
A numerous gathering of persons employed in the manufacture of matches was held on Sunday afternoon in Victoria Park, at which a resolution was unanimously passed condemning Mr. Lowe’s proposed impost in strong terms. According to one of the speakers, the daily bread of 15,000 persons in the east of London depends upon the trade in matches. Several thousand persons engaged in the match trade on Monday assembled in the Bow Road, and having formed a procession, set out to march to the House of Commons, there to present a petition against the threatened duty on matches. At a short distance from its starting-point the procession was broken up by the police, but the people managed in some degree to re-form their ranks, and, after many difficulties (more especially in their progress along the Thames Embankment), they arrived at the Houses of Parliament. This, however, was not accomplished without another collision with the police, in which one or two arrests were made. One party of the processionists even succeeded in making their way into Westminster Hall, but they were speedily removed.
PURCHASE IN THE ARMY ABOLISHED BY ROYAL WARRANT (1871).
Source.—The Illustrated London News, July 22, 1871.