│ 1838│ 47,333,460│ │ 345,227│ 289│ 8,423│ │ 1839│ 47,844,898│ │ 1,512,793│ 63,418│ │ │ 1840│ 47,567,565│ │ 1,593,971│ 1,258,959│ 2,274,240│ │ 1841│ 48,084,359│ │ 2,101,370│ 27,170│ │ │ 1842│ 46,965,630│ │ 3,979,539│ 1,596,366│ 5,629,989│ │ 1843│ 52,582,817│ 1,443,304│ │ 411,821│ │ │ 1844│ 54,003,753│ 3,356,105│ │ 458,810│ │ │ 1845│ 53,060,354│ 3,817,642│ │ 4,535,561│ 23,720│ │ │ │ │ │ ——————————│ —————————│ │ │ │ │ │ 40,963,170│£9,840,768│ │ │ │ │ │ 9,840,768│ │ │ │ │ │ │ ——————————│ │ │ Net reduction of taxation before Free Trade, │£30,922,802│ │ └──────────────────────────────────────────────┴───────────┴──────────┘ TAXES REPEALED SINCE FREE TRADE. ┌───────────┬───────────┬──────────┬───────────┬───────────┬──────────┐ │ Year. │ Revenue. │ Surplus. │Deficiency.│ Taxes │ Taxes │ │ │ │ │ │ repealed. │ imposed. │ ├───────────┼───────────┼──────────┼───────────┼───────────┼──────────┤ │ 1846│£53,790,138│£2,846,308│ —│ £1,151,790│ £2,000│ │ 1847│ 51,546,264│ —│ £2,956,684│ 344,886│ —│ │ 1848│ 53,388,717│ —│ 796,419│ 585,968│ —│ │ 1849│ 52,951,749│ 2,098,126│ —│ 388,798│ —│ │ 1850│ 52,810,680│ 2,578,806│ —│ 1,310,151│ —│ │ 1851│ 52,233,006│ 2,726,396│ —│ 2,679,864│ 600,000│ │ │ │ │ │ ——————————│ ————————│ │ │ │ │ │ 6,462,457│ £602,000│ │ │ │ │ │ 602,000│ │ │ │ │ │ │ ——————————│ │ │ Net reduction of taxation since Free Trade, │ £5,860,457│ │ └──────────────────────────────────────────────┴───────────┴──────────┘ Further, how has this reduction of £5,860,457 been effected? Simply by the previous imposition of the income-tax, which produced £5,629,000 before Free Trade began. That is, Sir R. Peel took taxes off the shoulders of the whole community, when it was so generally diffused that it was not felt, and laid it as _an exclusive burden upon less than 300,000 individuals_ in it! This is not reduction of taxation; it is shifting the burden, for the sake of popularity, from one class to another, on whom it falls with crushing severity.