10 February 1860BudgetWilliam Ewart Gladstone
The Bill to abolish duties on paper narrowly passed Commons but was rejected by the House of Lords. As no money bill had been rejected by Lords for over two hundred years, a furore arose over this vote.
Historical records for Great Britain in 1860, rendered directly from the World History Database and ordered by month, day and event.
The Bill to abolish duties on paper narrowly passed Commons but was rejected by the House of Lords. As no money bill had been rejected by Lords for over two hundred years, a furore arose over this vote.
The budget "marked the final adoption of the Free Trade principle, that taxation should be levied for Revenue purposes alone, and that every protective, differential, or discriminating duty...should be dislodged".
The budget reduces the number of duties to 48, with 15 duties constituting the majority of the revenue but to finance these reductions in indirect taxation, the income tax, instead of being abolished, is raised to 10d. for incomes above pounds 150 and at 7d.
This record states: Gladstones budget is introduced with the Cobden-Chevalier Treaty between Britain and France that would reduce tariffs between the two countries.
This record states: Some of the duties Gladstone intended to abolish in 1860 were the duties on paper, a controversial policy because the duties had traditionally inflated the costs of publishing and thus hindered the dissemination of radical working-class ideas.
This record states: The next year, Gladstone included the abolition of paper duties in a consolidated Finance Bill (the first ever) to force the Lords to accept it, and accept it they did.
for incomes above pounds 100.
The budget reduces the number of duties to 48, with 15 duties constituting the majority of the revenue but to finance these reductions in indirect taxation, the income tax, instead of being abolished, is raised to 10d. for incomes above pounds 150 and at 7d. for incomes above pounds 100
Birth of Archibald James Murray
Proposes enfranchising œ6 occupiers in the Boroughs & œ10 occupiers in the counties. Despite Palmerstons electoral proposals legislation is not passed
1st tour of the USA undertaken by a British Prince
The Budget is rejected by the Lords because they oppose the abolition of paper duties. Tariffs on 400 articles & paper are removed. National debt interest is reduced by 2 million pounds. Direct tax is raised from 9d to 10d, due to extra defence spending
The Lords refuse to abolish paper duties & reject the budget. The Cabinet decides to refer the Budget to the Commons Committee of Privileges
Present at the capture of Peking
Chains from Brunel's dismantled Hungerford Suspension Bridge are purchased for use in completing the Clifton bridge.
The Treaty of Tianjin is accepted by China at the Convention of Bejing
Death of George Hamilton-Gordon
Enters Parliament as Conservative Member of Parliament for County Donegal, a constituency he represents from 1860 to 1880
Appointed Editor of The National Reformer
China forbids the existance of embassies in Beijing leading to Anglo-French occupation
Enters Parliament as Conservative Member of Parliament for County Donegal, a constituency he represents from 1860 to 1880
Publication of "Poems & Songs"
Is appointed Professor of Surgery at the University of Glasgow.
Under the treat of Peking 11 ports are opened & part of Kowloon is ceded to Britain
Appointed Special Envoy to China & Japan
The beginning of spectral analysis of stars by Sir William Huggins
Reduces French duties on coal & manufactured goods. Puts the Cobden Treaty with France through Parliament as part of the Gladstone budget. Negotiated by Michel Chevalier & Cobden marking the recognition of common interests. Lowers British duties on wine & brandy
11 Chinese ports are re-opened & Kowloon is ceded to Britain
A peace Treaty is signed by Prince Gong & Lord Elgin
The Treaty of Tianjin is accepted by China at the Convention of Bejing
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