Blackwood's Edinburgh Magazine, Volume 60, No. 370, August 1846Various
History
Blackwood's Edinburgh Magazine, Volume 60, No. 370, August 1846
Various
England -- Periodicals; Scotland -- Periodicals
The financial plans of Sir Robert Peel have not yet been fully expounded.
Over-caution has always been his characteristic and his misfortune. It is
beyond dispute, that, in point of tact and business talent, he has no
superior; but he either does not possess, or will not exhibit, that
frankness which is necessary to make a leader not only respected but
beloved; and hence it is that he has again alienated from himself the
confidence of a large proportion of his followers. Enough, however, has
transpired to convince us that his scheme is of a much more comprehensive
nature than any which has been yet submitted. Various acts of his
administration have shown a strong tendency towards free-trade. The
establishment of the property and income tax, though apparently laid on to
retrieve the country from the effects of Whig mismanagement, seemed to us
at the time very ominous of a coming fiscal change. It organized a
machinery by means of which direct taxation, however graduated, became the
simplest method of raising the revenue; and the revision of the tariff was
doubtless another step in the same direction.
If on these foundations it was intended to rear a perfect system of
free-trade--by which we understand an abolition of all restrictions and
protections, of all duties and customs on exports and on imports--and the
substitution, for revenue purposes, of direct taxation, we think that the
country may fairly complain of having been kept most lamentably in the
dark. It is a great--nay, a gigantic plan--one which certainly would
simplify or remove many of the intricacies of government,--it might
possibly put an end, as is most desirable, to all clashing interests at
home, and might open up abroad a new and greater field to the operations
of British industry. All these are possible, nay, probable results--at the
same time we are quite justified in saying, that if so wide and important
a change was really contemplated, it was somewhat hazardous, and surely
unprecedentedly bold, to keep it all the time concealed from public
observation, and to give a different gloss and colour to the measures
devised for its advancement. In reality, a more momentous question than
this does not exist. The fortunes of every man in this country are more or
less bound up with it,--it is one of the deepest import to our colonies,
and calculated to affect the whole range of our commercial relations. We
say further, that such a measure is not one which ought to be considered
in detail--that is, brought about by the gradual abolition of different
imposts without reference to the general end--but that, if entertained, it
ought to be proclaimed at once, and carried into effect so soon as the
nation has been enabled to pronounce an opinion upon it.
Public-domain text, read in full here on John Shaqi.
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