tained that these were not revenue duties, but were all protective duties. Statistics were quoted to show that it was desirable to make such a bargain with France as would allow of the interchange of manufactures and commodities, which was already important, and which must largely increase when France was induced to break down her prohibitory system. That which had been done would have been good for this country if France had done nothing; it was better for us in proportion as France did something. One result of the high duty on French brandy, for example, was the manufacture of an unhappy production in the shape of a spirit called British brandy. As to wine, it was said to be the rich man's luxury, and tea the poor man's luxury; but in 1760 tea was the rich man's luxury, and sold at 20s. a pound; and by reducing the duty you might make wine the poor man's luxury. In fact the existing duties were not merely protective but prohibitory, and there was a pressure with regard to that article which, apart from any treaty with France, would compel a dealing with the wine duties. The consumption of foreign wines in this country had greatly increased-by at least 168,000 gallons in the last year; and concurrent with that there had been a large consumption of colonial wines and even of British wines. This showed a great demand for wine, and there was reason to believe that a greater production of wines, fitted for the English market and middle and lower classes of this country, could be effected. The idea that under no possible circumstances could Englishmen like French wines ought to be exploded, there being, in fact, a great taste in England for those wines; but it was stifled by prohibitory duties, which generated a mass of evils in the shape of fraud and adulteration. The alteration in the tariff with France would tend greatly to facilitate personal intercourse with the Continent, by enabling the customs authorities to withdraw the greater part of the annoying restraints now existing on the rapid transit of passengers and their baggage.

But Mr. Gladstone had now to speak of Cobden's exertions, and in felicitous words and with ardent feeling he said: "I cannot

pass from the subject of the French treaty without paying a tribute of respect to two persons, at least, who have been the main authors of it. I am bound to bear this witness, at any rate, with regard to the Emperor of the French: that he has given the most unequivocal proofs of sincerity and earnestness in the progress of this great work, a work which he has prosecuted with clearsighted resolution, not, doubtless, for British purposes, but in the spirit of enlightened patriotism, with a view to commercial reforms at home, and to the advantage and happiness of his own people by means of those reforms. With regard to Mr. Cobden, speaking as I do at a time when every angry passion has passed away, I cannot help expressing our obligations to him for the labour he has, at no small personal sacrifice, bestowed upon a measure which he-not the least among the apostles of freetrade-believes to be one of the most memorable triumphs free-trade has ever achieved. Rare is the privilege of any man who, having fourteen years ago rendered to his country one signal and splendid service, now again, within the same brief span of life, decorated neither by rank nor title, bearing no mark to distinguish him from the people whom he loves, has been permitted again to perform a great and memorable service to his sovereign and to his country."

Mr. Gladstone then proceeded to explain his supplemental measure of customs reform. He had asked the committee, he said, to sacrifice £1,190,000 of the existing revenue in order to effect a relief to the consumer of £1,737,000 by giving effect to the provisions of the treaty with France. That treaty would bring about a sensible reform in the customs establishments of the country; at the same time, it would not effect a reform which would, of itself, have any pretensions to a character of completeness, and there were many other duties still remaining on the tarif of a description which called for the attention of parliament, and by the reduction or removal of which immense advantage might be conferred upon the nation. It was proposed to reduce custom duties, in addition to those named, to the extent of £910,100, but

to supply that sum by other impositions on trade. The duties to be abolished were those on butter, tallow, cheese, oranges and lemons, eggs, &c., which amounted to £380,000 a-year. There were to be reductions of duties on timber, currants, raisins, figs, and hops, making together £658,000; the total reduction being £1,039,000. An extension of penny taxation would be resorted to, in order to compensate this loss, and by this means £982,000 would be restored to the general revenue. The loss to the revenue by the French treaty and reduction of duties he estimated at £2,146,000, but of this sum half was redeemed by the imposts specified.

The chancellor of the exchequer next announced that he proposed the abolition of the excise duty on paper. And this proposition served in some degree to mark the changes which had taken place, not only in his views, but in the current periodical literature. Besides, the duty had been condemned by the House of Commons. It operated most oppressively on the common sorts of paper, and tended to restrict the circulation of cheap literature. By taking off the duty it was contended that the house would promote rural labour, and so produce a beneficial effect on the poor-rates of the various districts. He therefore proposed that the paper duty should be abolished from the 1st of July, allowing the usual drawback to those who had stocks on hand. It was also proposed to abolish the impressed stamp on newspapers. With this announcement he had reached the end of the remissions it was proposed to make. But he still had to refer to some articles which were connected with the departments of excise and taxes. With regard to hops, the system of credits would be altered. It was proposed to remove the prohibition on malt, and to fix a duty on it of 3s. a bushel. The alterations and reductions he had proposed would give a total relief to the consumer of £3,931,000, and cause a net loss to the revenue of £2,108,000, a sum about equivalent to the amount falling in from the cessation of government annuities that year. The number of articles which would remain on the customs tariff would be forty-eight, and in the following year forty

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four-spirits, tea, tobacco, sugar, wine, coffee, corn, currants, and timber being the principal

only fifteen of the whole being retained for purposes of revenue. He expected to obtain £1,400,000 by taking up the malt and hop duties within the year. Mr. Gladstone then came to the last of the chief points of his budget. There was no liberty of choice but to retain the income-tax. He consequently proposed that, in order to supply the remainder of the deficit of £9,400,000, the tax should be renewed at the rate of 10d. in the pound ou incomes of upwards of £150 a year, and at 7d. below that sum; the tax to be taken for one year only, three-quarters of the year's rate to be collected within the year, which would give a sum of £8,472,000. This would bring the total income up to £70,564,000. The total charge was £70,100,000; and thus they remained with an apparent or estimated surplus of £464,000.

"Our proposals," said Mr. Gladstone, in concluding his statement, "involve a great reform in our tariff; they involve a large remission of taxation, and last of all, though not least, they include that commercial treaty with France which, though we have to apprehend that objections in some quarters will be taken to it, we confidently recommend, not only on moral, and social, and political, but also, and with equal confidence, on economical and fiscal grounds. . . . There were times, now long by, when sovereigns made progress through the land, and when, at the proclamation of their heralds, they caused to be scattered whole showers of coin among the people who thronged upon their steps. That may have been a goodly spectacle; but it is also a goodly spectacle, and one adapted to the altered spirit and circumstances of our times, when our sovereign is enabled, through the wisdom of our great council, assembled in parliament around her, again to scatter blessings among her subjects by means of wise and prudent laws; of laws which do not sap in any respect the foundations of duty or of manhood, but which strike away the shackles from the arm of industry, which give new incentives and new rewards to toil, and which win more and more for the throne and for the institutions of the