FORE:At the very time that Washington was flying before the British army, Congress, putting a firm face on the matter, went on legislating as boldly as ever. It established Articles of Confederation and perpetual union between the several States. These Articles were a supplement to and extension of the Declaration of Independence, and were sixteen in number:1st. That the thirteen States thus confederating should take the title of the United States. 2nd. That each and all were engaged in a reciprocal treaty of alliance and friendship for their common defence, and for their general advantage; obliging themselves to assist each other against all violence that might threaten all or any of them on account of religion, sovereignty, commerce, or under any other pretext whatever. 3rd. That each State reserved to itself alone the exclusive right of regulating its internal government. 4th. That no State in particular should either send or receive embassies, begin any negotiations, contract any engagements, form any alliances, or conclude any treaties with any king, prince, or power whatsoever, without the consent of the United States assembled in Congress; that no person invested with any post in the United States should be allowed to accept any presents, emoluments, office, or title, from any king, prince, or foreign Power; and that neither the General Congress, nor any State in particular, should ever confer any title of nobility. 5th. That none of the said States should have power to form alliances, or confederations, even amongst themselves, without the consent of the General Congress. 6th. That no State should lay on any imposts, or establish any duties, which might affect treaties to be hereafter concluded by Congress with foreign Powers. 7th. That no State in particular should keep up ships of war, or land troops beyond the amount regulated by Congress. 8th. That when any of the States raised troops for the common defence, the officers of the rank of colonel and under should be appointed by the legislature of the State, and the superior officers by Congress. 9th. That all the expenses of the war, etc., should be paid out of a common treasury. Other clauses defined the functions and powers of Congress, and the 14th offered to Canada admission to all the privileges of the other States, should she desire it; but no other colony was to be admitted without the formal consent of nine of the States composing the union.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.
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