ABSTRACT OF SIR R. PEEL'S SPEECH.

Wellington Independent, Volume II, Issue 89, 19 August 1846, Page 4

ABSTRACT OF SIR R. PEEL'S SPEECH.

He proposes to repeal, or the material reduction of all protective dutiee on manufactured articlesi ;■ and he calls on the manufacturers cheerfully to submit to this on these grounds—first, that AdamSmith and other great authorities attribute the origin of the restrictive sjstem to the commercial classes, andthey Bhould now show their sincerity in wishing for its removal; and -secondly, by the ' new tariff, all duties on raw materials ..hare been abolished or mitigated, with the exception of tallow and timber, which are to be added to the list. The duty on Russian tallow is to be reduced >from 3s. 2d. to Is. 65., but the reduction on timber is to be a gradual one, the nature of which is not to be stated for a few days, as information ie still 4ncomple. The duty on the coarser fabrics of linen, cotton, ■ and woollen, is to be altogether abolished; on the finer, to be reduced from 20 to 10 per cent. The duly on silk manufactures is hereafter not to exceed the maximum of 15 per cent.; on ornamental paper I hangings, to be reduced from one shilling to two pence the square yard ; on foreign carriages, from 20 to 10 per on foreign candles and soap the reduction is ouehalf; on boot fronts, from 3s. 6d. to Is 9d.; on boots from £1 Bs., to lie..; on I shoes from 14s. to 75.; and on straw plait from 7s. 6d. to ss. j French brandy, Geneva, and other foreign j spirits; the duty is to be reduced from 225. lOd. per gallon to las. Retaining his objection to the introduction of slave-grown sugar, Sir Robert Peel proposes to strike off 3s. 6d. from the differential duty on foreign free grown, believing that our colonies can bear increased competition.; Thus foreign free-grown I Muscovado will be reduced from 9s. 4d. to ss. 10d., and clayed from 11s. 10d. to Bs. i Agriculture ; Indian corn to be admitted duty free. This is a boon to the Agriculturist, Sir R. Peel pointing out that beautiful dispensation of Providence, by which manure is rendered the fertiliser of the soil; while the rising price of rape and linseed justify the free introduction of nutritious food for fattening cattle. Butter and cheese : the duty >to be reduced by one half; thus, on butter, from £1 to 10s. aad on cheese from 10s. to ss. The duties on.foreign hops, which by the tariff of 1342 was reduced to £4 10s. is to be still further reduced to £2 10s. Provisions, as fresh and salted meat, pork, and vegetables, duty free. The duty on live animals fixed by the new tariff, is to be abolished, andtforeign cattle are to come in .duty free. Corn: in lieu of the present sliding scale, the following to be substituted^— Whea the average price of wheat is 48s. the duty to be 10s., the duty falling by one shilling, with every shilling of rice in price, till on reaching 535. the duty is to be a fixed one of four shillings. This mitigated scale to last for 4hree year* j and by a positive enactment, to disappear on the Ist February,'lS49, leaving-for the future only a nominal rate of duty. By ihis new scale, foreign wheat, which at present prices pay a duty of 16j., will only pay 45., and keeping the ratio between wheat and other grain, oats, barley, &c, will be admitted at a nominal rate. All British colonial wheat and flour <to be forthwith admitted at a nominal rate of duty. As a compensation, or rather alleviation for this great change, some local burdens are to be revised, with a view to their economical collection and application. The highway rates, which are now under the control of 16,000 local functionaries, are to be placed, by union of parishes, &c, under the management of 600; and4;heir application more effectually Bupervised. The law of settlement to be altered, co as to give every resident of five years in towns, a status, and thus save rural districts from a flood of pauperism, thrown upon them in times of commercial and manufacturing revulsions. Various othei charges are *to be taken off county rates, and placed on the consolidated fund, as expences of convicted prisoners, of prosecutions &c, which are to be wholly or partly borne by the State. The state to encourage agriculture by lending money, at a a moderate rate of interest, on adequate security, for the drainage and other improvement of estates. The newly constituted board for the enclosure of commons, and the Exchequer-bill Commissioners, to be the machinery for this purpose.