VOL. XXX. No. 8.] Written in England FEB. 24.-Published at New-York JUNE 15, 1816. 225] TO THE 1226 by Pitt to 61, and by the Whigs with Fox PEOPLE OF THE UNITED STATES OF AMERICA. at their head to 10 per cent, at which rate it has continued to this day. Of the op LETTER II, Stir against the Income Tax.-Statement pressiveness and odiousness of this tax you of the question at issue. Squire Jolter- have been before informed. But, the reahead's farms in jeopardy.-Persecutors sons why the Minister now wishes to resmart in their turn.-County Meetings. tain it at 5 per centum ought to be a little -Governor Strong, and wise Mr. John mere fully explained than I have yet seen Randolph.--Princess's Marriage.--Real them explained. state of the Prince Regent's health. The produce of the whole of our taxes. Peckham Lodge, February 24th, 1816. has, of late years, been about 70 millions. In my Registers of last summer, which, Monstrous as this appears, the nation, I I see, have been republished in your coun-mean Great Britain, that is to say, I try, I many times observed, that the af- mean England alone; for Scotland pays fairs of this little bee hive of a nation hardly any thing, and poor Ireland has her were assuming an entirely new aspect, own Debt and Taxes. When peace was and that, in all probability, this winter would discover decided marks of an approaching important crisis. So it has turned out; and all the dreams of tranquillity and happiness; all the dreams of a settled and quiet submission to what is called " legitimacy," have vanished into air. If, indeed, this government, though it be such as I haye, in former numbers, described it to you, had had no interest of debt to pay, tranquillity at home would have followed peace with foreign nations. The English people, glutted with conquest and with glory, and dazzled with the splendid feats which closed the war, might have been contented; but, to have wartaxes to pay in peace, while the means of paying, owing to an alteration in the value of the currency, were diminished one half in their amount, was a little too much to be silently endured. really come, the people expected to get rid of all the Taxes, called "War Taxes," amounting to about 26 millions a year, of which 14 millions arose from the Tax on Income. I have, all along, been telling them that they could not get rid of the war taxes. I have repeated a thousand times over, that they must continue to pay the war taxes in peace; or have loans in peace; or, wipe off a part, at least, of the Debt with a sponge. But, I was not believed. Indeed, I was not heard. I hold in my hands not more than about a hundredth part of the powers of the English press; and, besides, I had to contend against a hundred to one, every one of that hundred having full liberty to say what it pleased against me, while I was compelled to be very cautious as to what I said against them. In short, I was com pelled to fight in padded gloves, while my adversaries came at me with naked fists. The nation did, indeed, begin to be alarmed last year, when the peace expenses were talked of. But, still, they relied on what was called the faith of parliament. Or, more properly speaking, they could not believe, that, when the war was over, war taxes would be continued. Such power have words! When, therefore, they Accordingly, the country is, at this moment, agitated from one end of it to the other in opposition to a continuance of the Income, or, as it is called, Property Tax. To make the question at issue clear to every one, a little explanation is necessary. This Tax was first laid on by Pitt. It was taken off at the peace of Amiens. Laid on at 5 per centum by Addington when that peace was broken; raised afterwards began to find, that, even after the com plete overthrow of Napoleon; after he was actually in our custody for life; after he was as much in our power as the clay is in the power of the potter; after they saw that France was at our feet; when, after all this, they began to find, that they were still to pay the war taxes, and that, too, for years, and that my predictions were really, at last, going to be verified to the very letter; when they found this, they took the alarm; which alarm has produced the effect which we shall, by and by, more particularly notice. The government, to speak in round numbers, wants 44 millions a year for the uses of its Debt, and. 29 millions for army, navy, and other annual expenses. It proposes to raise 70 millions, as usual; but, as it proposes to take off half the Income Tax, it will raise, according to its own calculation, only 63 millions. But, then, it has, for this year, borrowed 6 millions of the Bank; which pretty nearly puts it upon a level with its demands. I have not the accounts and estimates yet in an official form. I do not, therefore, speak with precision; but, I am enough the mark to answer the present purpose. near Mr. PRESTON; and though, perhaps, really the best thing that could be done even for the Fundholders themselves, is a measure too frightful for the nerves of the Ministers; it would excite such a sensation, affix such disgrace upon the Pitt system, and give such triumph to the opponents of that system; it would, in short, produce such a revolution in men's minds, as to the characters and abilities of our rulers, that a change in the mode of ruling must speedily follow. The second measure, a stoppage of the Sinking Fund, would have nearly the same effect. It would destroy all confidence in the capital of the Debt; and would, in all probability, bring the 3 per cents down from 60 to 30 in the course of a month. The third measure, though not so flagrant in its tendency, must produce, in a short time, similar results; for, to make loans to pay the interest of loans already made, would be such a shameful proof of insolvency as to leave very few persons indeed blind to the consequences; to say nothing of the Jewlike terms on which the money would be lent. Still this has been done in part in the loan of 6 millions from the Bank. But, this is a sort of loan that does not make the usual noise of a common loan. To have borrowed openly, in the usual way, would have been a notorious and striking fact, quite unequivocal as to the question of the credit and means of the government. Thus, you see, the Income Tax is all necessary to carry on the peace! Bear in mind, that the whole of the war taxes amounted to 26 millions a year. The whole was expected to be taken off at the peace; but, then, as the government debt now demands 44 millions a year, it does, you perceive, swallow up the whole of the taxes, the war taxes only excepted! What was, then, to be done? Why, reduce the interest of the debt; or, stop the Sinking Fund, which would destroy the capital of the Debt; or, continue to make Loans in time of peace; or, make the people pay war taxes in time of peace. Either of the three first will, when adopted, (for adopted one or the other must be at no distant day,) give the whole system a terrible shock. The first measure, though openly spoken of by great numbers of Gentlemen, so long dead to all those feelpersons, and though, in fact, proposed by ings, which distinguished their ancestors; These three measures being, therefore, so objectionable, it was resolved to resort to the fourth, namely, to keep on the whole of the 26 millions of war taxes, except about 7 millions of Income Tax; that is to say, one half of it, the whole of the Income Tax being, as I before observed, 14 millions and a little more. But, the people of all ranks have taken the alarm at this proposition, and are now bestirring themselves in a manner that I have never before seen them, since I have known any thing of public affairs. The Country 1 so long sunk in a sort of unaccountable that, if no alteration take place in the apathy; so long the tame followers of Civil List, in the pay of placemen, pensioners, and fundholders, these classes must, in a very few years, swallow up the whole fee-simple of the land. The operation, which is to lead to this result, has been, unwittingly, very well explained by our little Chancellor of the Exchequer in stating what he has been pleased to call his remedy. He says, "I "intend to make no more loans; but to every minister, and the submissive slaves of impudent upstart placemen, or (ashamed to act this base part before the eyes of the world) so long self-banished to their estates, and become the orators at agricultural meetings and cattle shows, instead of taking, as they formerly did, the lead in deciding on questions of war or of taxation; this description of persons, so long dead to their country, seem, at last, to" continue to raise taxes, in order to pay be stirring into life. They seem, at last," the interest of the Debt in full, and, to have perceived that they must now "also, to keep up the Sinking Fund in make a stand, or passively behold their full operation. The Sinking Fund is estates pass away from them for ever. It 14 millions a year. These will be laid is not now a question of more or less." out in the buying up of Stock, and thus GEORGE ROSE (of whose origin and pro- "will 14 millions a year be let loose and gress I will give you an account another" thrown over the country to ASSIST the time) once told them, in a pamphlet called a View of the Finances, that the nation was called upon for a salvage! He told them, they would lose their all if they did not pay taxes to carry on the war. And, that, therefore, whatever they retained was so much gained! But, I will say more of this man and of his mode of paying salvage another time. It is not now, however, a question of salvage. It is a question of forfeiture. It is a question of total stripping; and, the Country Gentleman who does not see this must be a born idiot. landowners and farmers." That is to say, to assist them in getting rid of their estates; for, that this would be the effect is as clear as day-light. 66 This gentleman, our Chancellor, seems to have read Adam Smith and Stuart, and to have got hold of a parcel of phrases, of which, if put to the test, I really do not believe he understands any thing at all of the meaning. They are sets of words without any clear notions attached to them. He, to use the expression of our most valuable writer, means not, but "blunders round about a meaning." He tells us that his scheme is to throw 14 millions of capital every year about the country, and that, as the landlords and farmers will get this capital into their hands, it will afford them great and effectual relief. The poor man, who really is a very inoffensive, and used to be, a very modest man, does not appear to keep in his head, that these 14 millions are first to be raised from the land in taxes. But, how few heads are there in this world capable of tracing millions of taxes through their several movements to their results! It is notorious, that the produce of the land has fallen more than one half in price. It is worth a half less than it was, upon an average, before the end of the war in 1814. It is also notorious, that this has not arisen from any peculiar circumstance in the seasons, or connected with the crops; but, from a change in the value of the currency of the country, and, how that change has been effected you have seen, in No. 2 of the Register, published at New-York, where the whole mystery is clearly developed. This being the case, and the nominal amount of the taxes continuing If, indeed, these 14 millions of money the same as before, it is manifest, that, in were distributed about the country after reality, the land pays double the tax that being brought from abroad, and without it paid before; and, it is also manifest, the landholders giving any thing in ex ( sheep and cows grazing close to the change for them, the relief would be not | Well, the situation of 'Squire Jolterhead only effectual, but instantaneous. If the is truly distressing. He lays down his 14 millions were to be brought from hounds and three out of four of his huntabroad, or, even from some part of En-ers, and packs off a couple or three sergland, and paid to the fundholders, with- vants to begin with. People ask him why. out having been first taken from the land- He likes coursing better." But, the holders; (amongst whom I include internal Greyhounds are still expensive. The Taxtraders who all depend on the land) then gatherer comes thundering at the door; the effect would be to afford relief, though talks so loud (with his hat on all the while) in a slower and less effectual way. But, that the servants hear his voice quite into to suppose, that the landholders are to be the Hall. Away go the beautiful Greyrelieved by being compelled first to pay hounds dancing and capering to the pip14 millions, and then to be enabled to pin-tree. Four or five more visits from borrow the same 14 millions, is an idea so the man with the ink-bottle at his buttonabsurd, so ridiculous, that one can hardly hole send off a brace out of three garbelieve one's own eyes, when one sees it deners, turn the close-shaven lawn into a in print, and attributed to a Chancellor rough bit of pasture, "Madam liking to see of the Exchequer. To use illustrations which are a sort of" windows." Shooting is now become mental leading-strings exposes, the writer the 'Squire's sole delight. The Taxgato the charge of presumption; because it therer still returns as regularly as old Time seems to say, that he doubts of the capa- himself, and as Time pertinacious and city of his readers. Yet, in a general ad- irresistible in his course. What is now to dress like this, which pre-supposes an un- be done? Are the dappled Pointers, with acquaintance with the subject in a part, noses keener than the air itself and stanch at least, of those under whose perusal it as a rock; are they, and are the little truenay fall, and whose pursuits may have bred Spaniels, with ears and dewlaps withheld their minds from studies of this sweeping the ground, and with sport-ankind, I shall hope to be excused, if I here ticipating tongues that would almost " cre-. resort to this method of placing in the full ate a soul under the ribs of death;" are all glare this gross absurdity of affording re- these too; are all the family favourites of a lief by the means of taxation. century, all to be destroyed "at one fell swoop?" Is their death-warrant signed in the book of taxes? Is their doom irrevocable? Is there no respite?" Parliament "will surely do something for us!" Suppose Giles Jolterhead, Esq. to have 20 farms, each of which yield him a gross rent of 200 pounds a year; and that he pays, out of his rent of 4,000l. a year, 1,000l. in taxes towards the expenses of the government Debt. In consequence of an alteration in the value of the currency, wheat falls from 14s. to 7s. a bushel. It is clear that his rents must fall from 4,000l. to 2,000l. a year; and, if he continue to pay 1,000l. a year towards the Debt, it is clear, that his spending income is, in fact, reduced to 1,000l. instead of 3,000l. a year. Thus far this is the real state of the landlords in England. But, while they are thus reduced, by the very same means, the fundholder's income is raised, and that, too, in the same proportion. Thus exclaims 'Squire Jolterhead, sitting by his parlour fire, with poor old Don resting his chin on one knee, while Bustle is pawing the other, and both soliciting the applauding pat on the head, which solicitation, in former times would have been so graciously and gaily answered; but, instead of which their caresses awaken in the master's mind no feelings but those of sorrow, shame, and melancholy. He sees 'Squire Cracklouse, the army Taylor, and 'Squire Turpentine, the Spirit Contractor, and 'Squire Garbage, the Meat Contractor, and 'Squire Beanmeal, the દુઃ 66 66 loyal newspaper, and did you not turn "out your best tenant because he would " continue to take in Cobbett's Register?"" "Yes, yes, my dear, I know I did; 66 carriage, and”* ** ** A loud knock at the door puts an end to her harangue. The 'Squire is all in a sweat for fear. It is not the Taxgatherer, however, this time. It is the Postboy with the COURIER, containing an account of the Chancellor's remedy. "A remedy, my dear! Here it is. Fourteen mil 66 Biscuit and Bread Contractor, and 'Squire " would you ever let us have any but a Glanders, the Horse Contractor, and an infinite number of others all sallying out around him with gay equipages or numerous troops of hunters and followers; and, while he is thus musing on his altered" I know very well that I did. But, pray state, Madam awakens him with a propo- "for God's sake, say no more about it: sition to apply to his friends in London to " say no more about it."" I will say get places for his sons. "Don't tell me," "more about; and I say that your sons says she, "why, who has so good a right "ought to have places under government; as you to ask for places for your sons? for, I do not see why Mr. Cracklouse, and "Were you not the first man to sign your "Mr. Garbage, and the rest of them are to name to the resolutions for the support" get so rich, and buy all the land up, "of the Bank when it stopped payment?" while we are compelled to lay down our And was it not you who called out the yeomanry cavalry to keep down Paine's Rights of Man and the Jacobins ? Did you not fall out with one of your best "friends because he blamed the sending "the Scotch Reformers to Botany Bay? "Did you not carry up an address to his Majesty when Peg Nicholson attempted "his sacred life; aye, and you might have" lions a year to be thrown into the coun"been made a Knight, too, and have " 'try to relieve the landed interest.". "made me a Lady, that you might, if" Fourteen millions, my dear: bless me ! you had had any regard for me. (Weep- "How much do you think we shall have ?” ing")" Come, come, my dear, never "I don't know....I don't know.....Let "mind that now: let us think how we can me see... Fourteen millions to be thrown "save the poor Spaniels."-" Spaniels," into the country. But, then, here is "indeed! Think how you can save your "something about taxes to the amount of "family. Zounds! go at once and get "the same fourteen millions.-These, I places for your sons. What have you suppose, are to be taken from the army "been voting and bawling for, if you are "tailors and contractors.... No.... Let "to get nothing? Did you not go, at the "me see....I can't make it out for my "risk of your life, to disperse the Par-"life." At last in comes the Apothecary, "liamentary Reformers, and when they who has just been reading the Register, laughed at you and called you a chuck- and the difficult passage being submitted “led-headed fool, did you not charge to him, he says: "Why, Sir, this is the them with high treason? Did you not "Chancellor's meaning: Your 20 farms, "keep us up all night and remain booted" that used to leave you 3,000 pounds a and spurred ready to set off with your year after paying your annual share of "tenants to help put Burdett into the" the Debt, now leave you only 1,000 "tower? Did you not go into mourning" pounds. This plunges you into great "when Tooke and Hardy were acquitted? "distress; it makes you want money to Did you not get drunk as a beast, and live decently and to keep your pointers "make all the neighbourhood drunk and" and spaniels. Therefore, the minister "cram them with sheep and oxen roasted" means to make no more loans, and to "whole, at the Jubilee and when Bona- lay out 14 millions a year in purchasing parte was sent off to St. Helena? Have" stock of the Fundholders, who, when "you not always stuck to your loyalty? they have sold their stock, will have the r 66 σε |