FORE:Before this, however, the financial statement for the year had been made, and for awhile the Corn Law question was suspended for the country to recover from its astonishment at finding in the Minister of the Conservative party one of the boldest reformers of our tariff who had ever occupied the Ministerial benches. But yesterday his position had appeared one of the greatest difficulty, in which a cautious hold upon the established sources of revenue, with some well-balanced proposals for additional taxes, was all that could be expected. He had not the good fortune of Mr. Goulburn or Lord Althorp in having a surplus to dispose of. The Whig Government had bequeathed to their successors a deficit, which had been increasing from year to year, with a revenue falling off even in the face of new taxes. How[488] was the deficit to be met was the question which filled the mouths of public men; a question which was answered by the famous financial statement of Sir Robert Peel on the 11th of March. After showing that the deficiency for the coming year would be little short of 2,500,000, and that this deficiency might be expected to be considerably augmented by the position of affairs in India and China, the Minister declared that he would not consent to resort to the miserable expedient of continual loans. He declared that he would not attempt to impose burdens upon the labouring classes, and that if he did, recent experience had shown that they would be defeated. In fact, the country had arrived at the limits of taxation upon articles of consumption. After ridiculing the various suggestions of people who were constantly sending him projects for taxes on pianofortes, umbrellas, and other articles, accompanied with claims of very large percentages upon the proceeds, he acknowledged the principle laid down by financiers that increased revenue may be obtained by taking off the taxes which pressed upon industry, but declared that the first effect was always a diminution in revenue, and that time was found necessary to restore the amount. In these circumstances, he stated what the measure was which, under a deep conviction of its necessity, he was prepared to propose, and which, he was persuaded, would benefit the country, not only in her pecuniary interests, but in her security and character. His scheme was this: he proposed, for a period to be limited, an income tax of not more than 3 per cent., from which he would exempt all incomes under 150, and in which he would include not only landed but funded property. Sir Robert Peel calculated that the tax would yield 3,350,000 a year, a sum which, with an addition to the spirit duties in Ireland, and an export duty of 4s. on coals, would not only cover the existing deficiency, but enable him to remit indirect taxes to the amount of 1,200,000. The sliding scale had brought little credit to the Minister, and the income tax was in its nature an unpopular measure; but the proposal to reduce the custom duties on 750 out of the 1,200 articles in the tariffto remove prohibitions altogether (in itself a vast concession to Free Trade doctrines)to reduce the duties on raw materials of manufactures to five per cent. or lessto keep the duties on articles partially manufactured under twelve per cent., and on articles wholly manufactured under twenty per cent., was a scheme which excited general admiration. The measure was, indeed, contested by the Whig Opposition at every stage. The preliminary resolutions were debated for eight nights. There were many of Sir Robert Peel's old supporters who looked on the financial plan with distrust, as being founded, in a great measure, avowedly on those principles of political economy which they had been accustomed to sneer at; but, in truth, it was not unfavourable to the interests of their party. We have already seen that the new taxat least, if a temporary onewas calculated to impose a far greater burden upon the manufacturing and moneyed class than upon the landowners; in fact, by exempting incomes under 150 a year, and assessing land only upon its net rental, the burden was imposed almost entirely upon that middle class which was the especial object of the dislike of Tories of the more advanced kind. At the same time, by cheapening articles of general consumption, the Minister did something towards securing popularity among the working classes, who, as exemplified in the Chartist agitation, were not always disposed to take part against the landowners. The Income Tax Bill passed, after considerable opposition in the Commons. An amendment proposed by Lord John Russell was rejected by a vote of 302 to 202, and another amendment, proposing the reading of the Bill on that day six months, having been thrown out on the 18th of April by a vote of 285 to 188, the third reading was carried by a majority of 130 on the 30th of May. No debate took place in the Lords until the third reading, when the Bill passed by a majority of 71.Monster meetings, not unaccompanied by disturbance, were held in various places, the most serious of which occurred at Birmingham. The inhabitants of this town had been kept in a state of almost incessant alarm by the proceedings of disorderly persons calling themselves Chartists. Representations to this effect having been sent to the Home Office, sixty picked men of the metropolitan force were sent down to aid the civil authorities in the preservation of peace. They arrived at Birmingham by the railway on Thursday, July 4th, and speedily mustering, they marched two abreast into the Bull Ring, where about 2,000 Chartists were assembled, at nine o'clock in the evening. They endeavoured, at first, to induce the meeting quietly to disperse, but failed in the attempt. They then seized the flags with which Lord Nelson's monument in the centre of the square was decorated, and among which was one that bore a death's head; but the Chartists, who had at first been disconcerted, recaptured them, after a desperate struggle, and broke their staves into pieces, to be used as clubs. A conflict immediately ensued, in which the police, who were armed only with batons, were seriously injured; and the Chartists were retiring in triumph when the 4th Dragoons charged them, by concert, through all the streets leading to the Bull Ring, and they fled in every direction. Further riots ensued, and on the 15th an organised mob attacked the houses in the High Street and Spiral Street. They broke into the warehouses, flinging their contents into the streets. A large pile of bedding was set on fire in the Bull Ring. Windows and shop-fittings were remorselessly demolished by the infuriated multitude. A few minutes past nine o'clock the cry of "Fire!" was raised. Scarcely had the words been uttered when the rioters carried immense heaps of burning materials from the streets, forcing them into the houses of Mr. Bourne and Mr. Legatt. Within a quarter of an hour the flames burst out with awful violence from both houses, amidst the exulting shouts of the rioters. While this work of destruction was going on they had the streets to themselves. The general cry among the inhabitants was, "Where are the military? Where are the magistrates?" At length, about ten o'clock, sixty of the metropolitan[457] police, with a posse of special constables, made their appearance, and rushed upon the rioters sword in hand, causing them to fly in all directions. The dragoons, under the command of Colonel Chatterton, were now discerned galloping down Moore Street, and another squadron at the same moment down High Street, and in five minutes about 300 of the Rifle Brigade marched to the Bull Ring. The inhabitants, feeling like people sore pressed by a long siege, clapped their hands with joy at the approach of their deliverers. The fire engines also came under escort, having been driven away before, and set about arresting the conflagration. In the meantime the cavalry were scouring and clearing the streets and suburbs, and the police were busily engaged bringing in prisoners. About midnight the roofs of the two houses fell in, and about one o'clock the fire was got under. Next day the shops were nearly all closed, the middle classes full of suspicion, and the populace vowing vengeance against the police and the soldiers. A piece of artillery placed at the head of High Street contributed materially to prevent further disturbance. About twenty prisoners were made, and the evidence produced before the magistrates showed the determined purpose of the rioters. When these outrages were the subject of discussion in the House of Lords, the Duke of Wellington said, "That he had seen as much of war as most men; but he had never seen a town carried by assault subjected to such violence as Birmingham had been during an hour by its own inhabitants."
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