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No formal resolution was passed; but the House proceeded to act on the supposition that the grants which had been made to James for life had been annulled by his abdication. It was impossible to make a new settlement of the revenue without inquiry and deliberation. The Exchequer was ordered to furnish such returns as might enable the House to form estimates of the public expenditure and income.
The receipts into the Treasury from the various branches of revenue during the nine months ending on the 30th of September last have been estimated at $12.5 millions; the issues of Treasury notes of every denomination during the same period amounted to the sum of $14 millions, and there was also obtained upon loan during the same period a sum of $9 millions, of which the sum of $6 millions was subscribed in cash and the sum of $3 millions in Treasury notes.
In his heart he thought: "Oh, yes, very convenient indeed; I am to wear the crown, and be pecked at by everybody, and you to do all the work that is, to go about and collect the revenue, and be rich, and have all the power, while I have all the danger".
This court should finally decide questions of title; it should prepare and enforce a simple and short form of conveyance, as short almost as that by which railway stock is transferred; and, without regard to the public revenue, I would abolish every farthing of expense which is now incurred in the duties on stamps, for the purpose of facilitating the distribution of land in Ireland, and of allowing the capital and industry of the people to work out its salvation.
Means should be provided for this and such other purposes as he may require out of the revenue which this Government now turns back to the Philippine treasury. In order that these possessions might stiffer no seeming neglect, I have recently sent Col. Carmi A. Thompson to the islands to make a survey in cooperation with the Governor General to suggest what might be done to improve conditions.
India is wanted and held, not for tribute or revenue to be paid into the Imperial treasury, nor even for exclusive trade privileges or preferences, but mainly as a preserve to provide official occupation and emoluments for British gentlemen not otherwise occupied or provided for; and secondarily as a means of safeguarding lucrative British investments, that is to say, investments by British capitalists of high and low degree.
"Now you have 10,000 parishes, and reckoning these one with another, each at £1,000 a year dry-rent, the rent or revenue of the nation, as it is or might be let to farm, amounts to £10,000,000; and £10,000,000 in revenue divided equally to 1,000,000 of men, comes but to £10 a year to each wherewith to maintain himself, his wife and children.
One of the moonshiners, arrested on suspicion of complicity with the murder, had turned State's evidence and had given testimony as to the details of the plot to ambush the revenue officer, and the delegation of Phineas Copenny and two others to execute it.
We were a day and night in passing the long island of Guadaloupe. Another day and night were spent in beating through the channel between Gaudaloupe and Dominica: another day in passing the latter island, and then we stood or Martinique. This is the queen island of the French West Indies. It is fertile and healthful, and though not so large as Guadaloupe, produces a larger revenue.
Warned, by this overwhelming defeat, not to flinch from, or avoid, or try to convert the great National question of Tariff, into a merely local one, the National Democratic platform of 1876, at the instigation of the old Rebel leaders of the now fast solidifying South, came out flat-footedly again with the "demand that all Custom-house taxation shall be only for revenue."
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