Blackwood's Edinburgh Magazine, Vol. 67, No. 415, May, 1850Various
History
Blackwood's Edinburgh Magazine, Vol. 67, No. 415, May, 1850
Various
England -- Periodicals; Scotland -- Periodicals
In the first place, it affords another illustration, if another was
needed, of the present deplorable subjection of Government to the
pressure from without, which has so often and painfully been exhibited
since the new system of government began. It is well known that, during
the three disastrous years that preceded the present one, debt to a
large amount was contracted. To mention two items only: eight millions
were borrowed in 1847 to relieve the Irish famine; L.2,000,000 in the
succeeding year, to carry on the current expenses of the year; and in
1841 the deficiency had been such, that no less than L.5,000,000 was
borrowed to meet the ordinary expenses of the year. One would suppose,
that when a surplus arose in the year 1849, the natural course would
have been to have applied it, in the first instance, to extinguish, so
far as it would go, the additional debt so recently contracted. Has this
been done? Not at all. Only L.750,000 out of a real surplus said to
amount to L.1,500,000, is to be applied in this way; and L.750,000 is to
be devoted to reduction of taxes. L.10,000,000 is borrowed during two
years of distress; L.750,000 only has been devoted to its reduction, in
a year, we are told, of unparalleled commercial prosperity.
In the next place, to what object is the L.750,000 a-year of surplus
available to reduced taxation, discovered for the first time after three
years of deficit, to be applied? Is it to be devoted to remission of
taxes pressing upon the agricultural interest, whom the measures pursued
for behoof of towns have reduced to such a state of depression? Not at
all. It is to be applied to reduction of the duty on _stamps and
bricks_. The first may be admitted to be desirable, because, as so large
part of the landed property in the kingdom will soon, to all appearance,
change hands, it is an object to render the transfer as little costly as
possible. But of what use is the reduction of the duty on bricks to the
suffering cultivators? That it is a boon to the master-builders in
towns, may be conceded; though it may well be doubted whether it will
ever cause a reduction of price to the purchasers from them. But what
the better will the farmers and ploughmen, the landlords and yeomen, be
of the change? Additional houses are not wanted _in the country_; on the
contrary, there will in all probability not be inmates for those that
already are there, from the certain and experienced effect of Free-trade
in diminishing the demand for rural labour. It is in the towns and
villages that the building is going on; because Free-trade policy is
daily more and more forcing the rural inhabitants into the towns in
quest of employment or relief. In London, 200 miles of new streets, and
66,000 houses, are said to have been constructed, or to be in course of
construction, during the last two years. Is there any increase of houses
in the rural districts? Herein, then, lies the injustice of the present
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account