of an issue of Exchequer bills. Shall I, then, if I must resort to taxation, levy it _upon the articles of consumption_, which constitute, in truth, almost all the necessaries of life? _I cannot consent to any proposal for increasing taxation on the great articles of consumption by the labouring classes of society_." [Is it the friend or the enemy _of the people_, that is here speaking?] "I say, moreover, I can give you conclusive proofs that you have arrived at the limits of taxation on articles of consumption."[3] Sir Robert Peel then proceeded, with calmness and dignity, to encounter the possible, if not even _probable_ fatal unpopularity of proposing that which he succeeded in convincing _Parliament_ was the only resource left a conscientious Minister--an INCOME TAX. [3] Hansard, vol. lxi. col. 429, 430, 431. "I will now state what is the measure which I propose, under a sense of public duty, and a deep conviction that it is necessary for the public interest; and impressed at the same time with an equal conviction"-- [mark, by the way, the exquisite judgment with which this suggestion was _here_ thrown in!]--"that the present sacrifices which I call on you to make, will be amply compensated, ultimately, in a pecuniary point of view, and _much more_ than compensated, by the effect which they will have in maintaining public credit and the ancient character of this country. Instead of looking to taxation on consumption--instead of reviving the taxes on salt or on sugar--it is my duty _to make an earnest appeal to the possessors of property_, for the purpose of repairing this mighty evil. I propose, for a time at least, (and I never had occasion to make a proposition with a more thorough conviction of its being one which the public interest of the country required)--I propose _that, for a time to be limited, the income of this country should be called on to contribute a certain sum for the purpose of remedying this mighty and growing evil_, ... should bear a charge not exceeding 7d. in the pound, which will not amount to 3 per cent, but, speaking accurately, L.2, 18s. 4d. per cent--for the purpose of not only supplying the deficiency in the revenue, but of enabling us, with confidence and satisfaction, to propose great commercial reforms, which will afford a hope of reviving commerce, and such an improvement in the manufacturing interests as will re-act on every other interest in the country; and by diminishing the prices of the articles of consumption and the cost of living, will, in a pecuniary point of view, compensate you for your present sacrifices; whilst you will be, at the same time, relieved from the contemplation of a great public evil."[4] [4] Hansard, vol, lxi. col. 439.