Blackwood's Edinburgh Magazine — Volume 53, No. 327, January, 1843. Various
and truly liberal Radical newspapers, which they have filled, with persevering ingenuity, day after day, with eloquent descriptions of the awful state of feeling in the country on this most atrocious subject. Where, patriotic, but most imaginative gentlemen! where have been the great meetings summoned to condemn the principle of the tax? The great landholders, the great capitalists, the great merchants, are pouring their contributions into the exhausted Treasury, with scarce a murmur at the temporary inconvenience it may occasion them!—thus nobly responding to the appeal so earnestly and nobly made to them by the Prime Minister. So, moreover, are the vast majority of those persons on whom the tax falls with peculiar severity—we allude to the occupants of schedule D—who must pay this tax out of an income, alas! evanescent as the morning mist; which, on the approach of sickness or of death is instantly annihilated. These also suffer with silent fortitude; and we think we have heard it upon sufficient authority, that it was on these persons that Ministers felt the greatest reluctance in imposing the tax—at least to its present extent, only under an absolute compulsion of state policy. The total, or even partial exemption of this class of persons from the operation of the income-tax, would have been attended with consequences that were not to be contemplated for a moment, and into which it is impracticable here satisfactorily to enter. The tax undoubtedly pinches severely men of small and uncertain incomes, who are striving, on slender means, to maintain a respectable station in society; the man who, with a large family to be supported and educated, and who moves in a respectable sphere of society, has to pay his L.9 or L.12 out of his precarious L.300 or L.400 a-year, is an object of most earnest sympathy. Still, let him not lose sight of the undoubted hardships borne by his wealthier brethren. Is it nothing for a man—say the Duke of Buccleuch, the Marquis of Westminster, the Duke of Sutherland, or Lord Ashburton, or Mr Rothschild—to have to pay down their L.3000, L.4000, or L.5000 clear per annum, as the per-centage on their magnificent incomes, in sudden and unexpected addition to the innumerable and imperative calls upon them already existing, such as compulsory upholding of many great establishments in different parts of the country—various members of their families—married and single—to support in a style adequate to their rank and position in the country? It is needless, however, to pursue the matter further. The plain truth is, there is no help for it; the burthen is one that must be borne, and it is being borne bravely.
But why must this dreadful income-tax be borne? What has led to it? The vast majority of honest and thinking men in the nation have but one answer to give to the question. That the income-tax is the penalty the nation must pay for its weakness and folly, in permitting a Whig Ministry to get into power, and continue in power, "playing such fantastic tricks" as theirs, for the last ten years, both at home and abroad, as the nation ought to have foreseen would be inevitably followed by some such grievous results as the present. This income-tax, however, let our opponents know, will serve for many years to come, long after it may have been removed, as a memento to prevent the country from tolerating the return to power of men whose reluctant and compulsory exit from power, after again doing enormous mischief, will be followed by a similar result—will impose on their Conservative successors the bitter necessity of imposing another income-tax. "The evil that they do," does indeed "live after them;" and without any "good, interred with their bones!" With the frightful deficit exhibited by Sir Robert Peel still staring us in the face; the war in the East yet to be paid for; faith to be kept with the public creditor both at home and abroad: a revenue of a million a-year recklessly sacrificed in reducing the postage duties:5 a deficiency in the last quarter's revenue, that tells its own frightful story as to its cause, and an all but certain heavy deficiency to be looked for, we fear, in the ensuing quarter: with all this before him, will any member or supporter of the late Government—of all other persons—be found hardy enough to rise in his place next session, and bait Sir Robert Peel about the repeal of the income-tax? The country will not tolerate such audacity. We shall not reason with them; but to those who, like ourselves, are smarting under the effects of the late Ministry's misconduct, who have a right to complain loudly and indignantly, and enquire with eager anxiety when their suddenly augmented pressure is to cease, we feel compelled to express our opinion, founded on a careful observation of our present financial position and prospects, that we see no chance of being relieved from the burden of the income-tax, before the period originally fixed by Sir Robert Peel. Till then we must submit with what fortitude and cheerfulness we may. Under, however, a year or two's steady and enlightened administration of public affairs, matters may mend with unexpected rapidity; but it is not in the ordinary course of human affairs, that evils, the growth of many years, can be remedied in a moment. A chronic disease of the body requires a patient course of abstinence and skilful treatment, to afford a chance of the system's getting once again into a permanent state of health; even as with individuals, so is it with nations. That the sudden cessation of the drain upon our resources from the East, and the partial reimbursement we have already realized, will sensibly lighten the burthens under which the Minister has hitherto laboured, and make him with joy to realize the expectations which, in proposing the income-tax, he so distinctly, yet cautiously, held out, as to the period of its duration, we may consider as indisputable. Add to this the pacific policy which Sir Robert Peel and his Cabinet are bent upon maintaining, as far as is consistent with a jealous regard to our national honour, (and which our late resplendent successes are calculated to facilitate,) and the revival, erelong, of the revenue, concurrently with that of trade and commerce, which may be confidently anticipated under our present firm, cautious, and experienced councils, and we may give to the winds our fears as to the continuance of the income-tax one instant after it can be prudently dispensed with. What, however, as a matter of mere speculation, if the nation should by and by, when familiarized with the character and working of the income-tax, become more reconciled to it, and prefer its retention as a substitute for the Assessed Taxes, which at present press so heavily on all, but particularly on the working-classes! But while Sir Robert Peel was remodelling the Corn-Laws, and creating a new source of direct revenue, he also undertook another task—a herculean task, one utterly hopeless, and beyond the reach or even conception of any but a Minister conscious of occupying an impregnable position in the confidence of the country: we allude to his reconstruction of our entire commercial system, as represented by his new Tariff. What courage was requisite to grapple with this giant difficulty! What practical skill; what patience and resolution; what exact yet extensive acquaintance with mercantile affairs; what a comprehensive discernment of consequences; what firm impartiality in deciding between vast conflicting interests, were here evinced! And observe—all these great measures, effecting a complete revolution in our domestic economy and policy—the fruits of only a few months accession to office of a Conservative Ministry! All the while that the Radical press was assailing them on the ground of their insolent and cruel disregard of their duty, and of the sufferings of the people, they were engaged upon the united labours of enquiry and reflection, on which alone can have been safely based the great measures which we have been briefly reviewing! "But all these," says some faithful mourner after the deceased Ministry, "they intended to have done, and would have done, if they could." Ay, to be sure. Admit it, for the nonce; 'twas easy to say it, but the thing was to do it—quoth Mr Blewitt! That same doing, is what we are congratulating the present Ministry upon. Yes, it has been done—the great experiment is being tried; may it prove as safe and successful, as it is bold and well meant. It must be regarded, however, as only a part of the entire scheme proposed by Sir Robert Peel, and judged of accordingly, with reference also to the necessity of his position, arising from the last acts of his predecessors—from the spirit and temper of the age. The long-continued languor and prostration of our commerce, undoubtedly required some decisive, but cautious and well-considered movement, in the direction of free-trade. How far we shall be met, in the same spirit, by France, Germany, Russia, and America, as has been long confidently predicted by those whose opinions have been perseveringly and vehemently urged upon the public, now remains to be seen. Felix faustumque sit! But at present, at all events, our example seems not likely to be followed by those on whom we most calculated, and time alone can decide between our course and theirs—between the doctrines of the old and of the new school of political economy—as to which is the short-sighted and mischievous—which the sagacious and successful policy. The powerful protection afforded by the new Tariff to our colonial produce, is one of its most interesting and satisfactory features.
Year ending 5th January 1840, L.2,390,764!—1841, L.1,342,604!—1842, L.1,495,540!—(