1836, 989,786 1836 1837, 234 3,991 1837 1838, 289 100 1838 1839, 66,258 1,783 1839 1840, 18,959 2,155,673 1840 1841, 27,176 1841 1842, 1,596,366 £5,529,989 1842 1843, 1843 1844, 1844 1845, 4,535,561 23,720 1845 1846, 1846 1847, 1847 ———————————— ———————————— ———————————— ———————————— £18,060,000 £33,523,623 £5,529,989 £7,743,962 Imposed, 5,529,989 7,743,962 ———————————— ———————————— Taxation reduced, £12,431,011 £25,779,661 Thus the balance of indirect taxation, reduced since the Peace, has been above £25,000,000—of direct, above £12,000,000 annually; and till 1842, it was £15,000,000 yearly. Had the sinking-fund been kept up at its amount as it was in 1815—that is, at £15,000,000 sterling out of the indirect taxes, there might have been repealed £15,000,000 of direct, and £14,000,000 of indirect taxes, and still _every shilling of the public debt would have been paid off by 1846_. Why has this most desirable, most vital object for the national safety in future times, not been gained? Simply because the mania of cheapening everything has ruled the State. Successive Administrations, which have succeeded to the helm of affairs, have endeavoured to gain a fleeting popularity, by bidding against each other in the race for popularity, by the sacrifice of the best interests of their country; and because Parliament—composed, so far as its majority goes since 1832, of the members for boroughs—have shut their eyes entirely to the ultimate consequences of their actions, and looked only to the gratifying their buying and selling constituents by the incessant reduction of the indirect taxes, and lowering the remuneration of industry of every kind throughout the country.