The Sun. — London, England, 1858-04-20 00:00:00

TUESDAY EVENINGAPRIL 20, 1858. THE SUN, LONDON, Mr. WARRE wished to know if the right hen; gentle man the Chancellor of the Exchequer could ley upon the table any return of the result of the succession duty. Ho reared that the colculations of the right hon. gentleman, in reference to the revenue to be derived from the Post office, would not be realised, but he must say that he could see no objection to the equalisation of the duty upon Eng lish and Irish spirits. Mr. M`MAHON said that the proposal to increase the duty on Irish spirits from es. 2d. to Ss. was a very large t e te. and would be severely felt by the dealers in spirits in 4 jeland. He trusted that, whatever arrangements would be made on the subject, that the Government would accede to thesuggestion of the hon. member for the city of Cork, de alers not lay the increased duty on the stock of the retail :ealets in spirits. He trusted that the duty would not have re trospective operation. , Mr. lIALINS concurred in all the proposals of the right gentleman (the Chancellor of the Exchequer) except `me- They had now a Parliamentary assurance that there Would be no increase in the income-tax ; but that on the 1 8 e t o r arY, the orig arrangement for its extinction in _ would be carried out. This e a nnouncement would be received with satisfaction by the country, for the tax was . I ,‘ most detestable one. The only objection he had to the budget related to the pen stamp on cheques, for he be lieved it would • f with the monetary transactions of country, intersere abMouru. T ° . llon e tT ß Y ß . lEN said the right hon. gentleman was e ausedttomake Ireland pay for the deficit caused iu the re venue by England. According as th ey had found an in a° in the dut y on s pi r it s in Ireland beyond a certain point, co n same proportion smuggling and all its injurious st sequence s i ncreased. The force wh i ch f ormer ly re • wined smuggling was now stone away with, and the land Was thrown open to a renewal of this illicit trade. He !eared the result in lieland would not be beneficial. It tiTeared to him that this was a gross financial wrong im posed upon Ireland for the general good. e s 'lat . - DODSON said the farmer had to pay the duty on te '" ° l2s, whether his circumst a n c e s were prosperous or the 'erse Ho had hoped th a t th e p rom i se o f f ormer years , t hat this t ax s h ou ld b e reduced or diminished, would not have been forgotten. He was disappointed that this sub- Ject had been overlooked. Mr. E. BALL said that the interest of hop-growers was not the question before the house, but the question was Whether the property and income tax should be gradually done away with. The country weald receive the announce ments of the right hon. gentleman (the Chancellor of the .s.srchequer) on this subject with unqualified satisfaction. " a s' s would rather have preferred an increase of taxation on spirits generally than the plan actually proposed by the Government. As to the proposed duty on cheques, he thought that where twenty cheques were now drawn Ire would in f u t ure , if thi s new t ax were i m p ose d, be 13 fe il a t r Y edy. a t; and the result would be that they would require a l arge increase in th e mone t ar y c i r culation, which he Would be attended with inconvenience to the tount r Mr. GLYN said the right hon. gentleman bad exercised tv very wise discretion as to the mode in which he proposed Pay off the exi s ti n g liabilities of the country, and also regard to the new taxation, except the proposed duty .., n cheques, to whi c h ho would ask the right hon. gentle- Men to give further consideration. (Hear.) If this pro- Posed penny stamp on thecheques was proposed, it would in terfere with the duty on receipts. Therefore, iu point of q fact, what the right hon. gentleman would gain by the new dut y on cheques, he would lose by the reduction that ;would take place in the amount of duty from receipts. But the serious objection to this proposal was that it would in terfere with the small circulation of the country. In all tile small towns, both in the agricultural and manufacturing districts, the process of keeping accounts during the last fifteen or twenty years had i .creased enormously. If that bad not been so, it would have been impossible for the circulating medium to have carried on the business of the country. There was now hardly a small farmer who did hot keep his cheque-book and an account at his banker's, upon whom cheques so low as f or 21 . an d 3 /. were d rawn . if the right hon. gentleman kept these facts in view, he Would find that his gain would be so small as not to coin- Pensate for the incenveniences to which it would subject t he public. He (Mr. Glyn) had said nothing about Lon don, from which, no doubt, to-morrow or next day, he Would have representations enough. To stockbrokers and others the inconvenience would be moat serious. Thou 'lands of cheques were drawn by Stock Exchange gentle roan in the course of a day, but the great difficulty was the in convenience which would be felt in small country towns. Mr. INGRAM said he must express his astonishment at bearing no proposal whatever for a reduction or revision of the paper duties. This had been a subject spoken of Year by year, and the evils which fl.,wed from the opera tion of this tax pointed out. Some honourable members Wished for a reduction of the hop duty, and others to get r id of the malt duty; but he thought the paper duty as slf ppressive, and more injarious in its operation than either. they wanted a new tax, why not impose a penny in the Pound upon all property in the country, say once in ten years? (A. laugh.) Honourable members might laugh, but there s . s might b e a worse proposal than that (Hear, hear. ) rte hoped that some portion of this budget would be re 'viewed, with the object of getting rid of the paper duty, Which affected not only the trade but the education of the country. (Hear, hear.) Mr. BIGWEaLLse fromsaidhe th d e id p n ro o p t o t s h e i a nk a m u u ty ch increase of revenue would arise The duty on spirits was an Irish question, andohnechtheoqe.ugehs.t the effect of imposing an additional duty on spirits in that country would only be to deteriorate the article. Mr. BAXTER, in reference to the spi r it d uties, sail the . people of Scotland were perfectly sati s fi e d w i t h the law as it stood at the present moment in that country. They would not find in all Scotland 10) persons who would sh to go back to the old system. Ho begged te express his general concurrence in the financial scheme developed in the speech of the Chancellor of t he Exche q uer, which. be thought exhibited great pru reuse and discretion, eon • sidering the circumstances of the country, and he hoped that both now, and in all future stages , it would meet With the concurrence of the house. Mr- PULLER said it was only last week that a co untr y banker, with who m h e w a s conversing, pointed out to him the great injustice and inconvenience which the countr y bankers sustained owing to the exemption of London cheques from th e p enn y stamp; for sometimes be (the banker i n quest i on) put three penny stamps u p on 100 or 200 cheques every day. It might be a matter of coneidern %lon fo r th e house us to whether the banking system of this and whether !?untry had n o t been carried too far, and our circuloating ediuna too m uc h contracted , it was not g •to the extension of the banking system, and the contraction of our currency, that the late panic fell so severely on the country ,p_irle,r. STEWART congratulated the Chancellor of the Pequer on not increasing the income-tax. He was glad that, for a paltry million he had not taken n step so obnoxious to the country. could no reason what- Ev ar Nvh Hesee . With 3' sreiand should not be put upon a perfect equality England in regard to the spirit duties. As to draft stamps he could see no reason whatever for the exemption whichnow existed. Mr. GLADSTONE, who was listened to with marked attention, said—Sir, lam glad to hear, from the general tone of conversation this evening that the feeling of the house is favourable to the general spirit of the proposals of the right hon. gentleman the Chancellor of the Exchequer. With respect to the imposition of the penny stamp on all cheques, I am aware that this is a point upon which much difference of opinion has existed. I have not doubt that the information whieh the Chancellor of the Exchequer will receive, both from London and from the country, supplied by those who are moat competent to give a practical opinion, will enlarge the means of forming a correct judgment. which he already possesses, and will enable him to persevere with this part of his proposal on a still fuller knowledge of the question, or to withdraw it without any discredit. (Hear.) Under the circumstance supposed, it would be no discredit to withdraw it. (Hear.) With respect to the equalisation of the spirit duties, I feel bound to tender my thanks to the right hon. gentleman. I can well recollect that upon every occasion that the increase of the spirit duties in Ire land has been proposed by a Minister of Finance, there have been many dismal vaticinations preferred by Irish members. (Hear, and laughter.) We have been told that the only consequence would be an immense increase of illicit distillation, and a total failure of any anticipations which might have been entertained in regard to an aug mentation of the revenue. (Hear.) In 1812, those who thus prophesied, uttered their prophecies with perfect truth. Sir R. Peel proposed an increase of duty amount ing to ls. per gallon ; and it will be in the recollection of the house that that ls. duty was remitted in 1843, on ac count of a decided belief that it furnished a stimulus to illicit distillation. It was nateral that similar anticipa tions should again be entertained. I was myself the first person ten years later, to revive the proposal to augment that duty, because I had arrived at the conclusion that those evils which had formerly defeated the measure could then be contended with and overcome. Our success on that occasion was perfect, and my right hon. friend oppo site, who raised the Irish spirit duty to the point at which it now stands, has found out on all occasions his expecta tions from that increase justified. (Hear.) It is time we should remove what is a blot and a mischief in our fiscal arrangements, and establish a uniform rate. It is a prac tical question as to whether there may not still be a point at which you might revive illicit distillation ; but no doubt the Chancellor of the Exchequer has conferred on that subject with the heads of the revenue department, and there are no persons in this country more competent to give him information upon which he may found his judg ment with the utmost reliance. I trust the time has come when the landlords of Ireland, acting on more enlightened views than formerly, are prepared to unite heartily with the Government in setting themselves against illicit distillation—(hear, hear)—because it is on their influence we must very much depend for the success of this measure. I rejoice to see that in Scotland it has been the co-operation of the landlords with the Govern ment in discouatenancing illicit distillation that has led almost to the extinction of that vicious and demoralising practice inthat country. (Hear, hear.) As to the larger portion of the deficiency which is connected with the ob ligation to discharge the public debt, of course I cannot pretend to look - with sanguine hope and pleasure upon ar rangements, tho substance and pith of which consists iu postponing the obligation to discharge it. It would have been infinitely more gratifying to me if the Government had been in a condition, and the house in a disposition to take some bolder measure for the purpose of liquidating that during the present year. At the same time we must not expect too much from the Government. (Hear, hear, and cheers.) We must not, however, expect from them more than can fairly be thought to lie within their power. (Hear.) Looking at the political division of parties, the events of last year, and the mode in which this deficienc y has been brought about, I do not feel that I, for one, have any right to complain. (Hear, hear.) Much has been said to-night on the subject of the income-tax, and the right hon. gentleman, perhaps, if he had thought fit to make the proposal, might have btained the sanction of the com mittee to some augmentation of the income-tax. But the right hon. gentleman has distinctly, on this occasion, as on some former occasions, expressed his own conviction, and the conviction of his Government, that it is desirable that we should not, if we can avoid it, disappoint the expecta tions of the country—that the period will soon arrive when the income tax will reach its determination. I con cur in those views of the right honourable gentle man, and I can appreciate the disposition which the Government has shown to avoid preferring a request for the augmentation of the income tax at the present time, although the pressure upon them, and the inducements to such a course have been considerable, because they are unwilling to raise in the country the belief that those rea sonable expectations are to be disappointed. (Hear.) There are gentlemen in this house, as appears from the discussion to-night, who look forward with eagerness and desire to the extinction of the income tax. But let us not forget that which is a matter of the greatest weight and import ance—if these expectations are ever to be practically rea lised—viz , that the real impediment to the extinction of the income tax does not consist in the change of circum stances which has occurred since 1853, in connection with the war. It is true that the war has made a permanent ad dition to your burdens to the extent of about a million and a quarter per annum perhaps, but no one will say that the change of the circumstances of the country to that extent is a sufficient cause for the postponement of those expectations which we have taught the people to en tertain with regard to the extinction of the income tax. That really resides in the expenditure of the country. Be fore 1852 the expenditurewas . 0 or 51 millions per annum. Since that time we have thrown into the statement the cost of collecting the revenue, and probably if we were to estimate cost we should say the expenditure of the country was 54 or 55 millions per annum. But, Sir, what is the expenditure of the country now. My right hon. friend and his colleagues have effected some reductions, and apart from all charges connected with the reduction of the debt, I understood him to say that he estima'ed at 63,600,0001. the regular and ordinary expenditure of this country for the year. (Hear.) If then we have made an augmentation in the permanent expenditure amounting to 8 or 9 millions a year, out of which only 21 millions is connected with the permanent and annual charge entailed by war, it neces sarily follows that we have some 7 or 8 millions a year added to the permanent expenditure of the country during the period referred to, apart from war obligations, and if there be such an additional expenditure, it needs no wizard to determine where we are to find the true obstacle to the extinction of the income tax. (Applause.) Amongst the various hon, gentlemen who have addressed us, one has cried out for the extinction of the paper duty, another for the abo ition of the hop duty, and another for the ex tinction of the malt tax. Some of these claims are reason aisle, and some of them are unreasonable. But owing to the state of our expenditure, we are not only precluded from reducing the debt, but we are likewise precluded from carrying forward those beneficial changes in our com mercial legislation—of which some yet remain to be accom plished—which have proved of such immense benefit and advantage to all classes of this country. At the present moment it would be unreasonable to make large demands upon the Government. (Hear, bear.) The right hon. gentleman says truly that a real reduction of the expeudi Lure, if it be voted wisely and safely, must bo voted deli berately ; and it is but fair that the Government should ask for the leisure of the recess in order to be able to give its attentioe properly to such a subject. (Hear.) But let us place it fairly and fully before our own minds. More than ever lot us consider that, if we mean the extinction of the income tax, we must seriously review the whole subject of the expenditure of the country. (Hear, hear.) I do hope that the circumstances of the country may be favourable to it when the right hon. gentleman and his col leagues come to consider the subject, and I trust that when the Government shall again meet Parliament in another session, :after the recess, we may find that wo aro not only disposed in words to recognise our obligations to the country on the subject of the income tax, but that we have some prospect of bringing the scale of our expenditure down to such dimensions as may give a practical character to our expectations, and enable us to cherish reasonable hope of being able to confer on the country, at an early date, the realisation of that inestimable benefit. (Hear.) Mr. SLANEY said, if the right hon. gentleman (Ur. Gladstone) hoped that they were to gat rid of the income tax without adding to their taxation in any other shape, he cordially joined with him ; but if they took the income tax, and placed an equal amount of taxation on articles of consumption, that would be a great hardship to the humbler classes, whose consumption of taxable articles was larger iu proportion than in the case of the more opu lent classes. (Hear, hear.) He congratulated the right lion. gentleman (Hr. Disraeli) on his able financial statement, and expressed his general concurrence in the sentiments he hart expressed, except in so far as he had understood him to hope for the cessation of the income-tax, although it should be partially or altogether substituted by taxes of another nature. Mr. NE WD EGATE had been a member of the income tax committee, and as such bad soma knowledge of the sub ject, anti ho felt convinced that the people of this country would never be satisfied till that odious impost was totally abolished. (Hear, hear.) As to the substitutes for the tax, that was a largo question which would well engage the attention of the Government during the recess. He thought the Government, for its financial scheme, was entitled to the thanks of the country. The Chancellor of the Exche quer had understood his position, the position of the Go vernment, and the expectations which the country enter tained. (Hear, hear.) Mr. CARD WELL said be was sorry he ceuld not alto gether concur in the manner in which the right hon. gen tleman proposed to treat the two millions of Exchequer. bonds. Those bonds were raised to anticipate a half-year of the war income-tax, and if they wore to be remitted, it should be out of the income-tax, and. it was before the expiration of the income-tax that they could alone expect to do so. If ho understood the right hon. gentleman aright, they were to have a re.borrowing, with a declining income-tax, the debt to be thrown ou the years 18i1 and 1863. Well, if we could not afford the repayment now, what would be our position then? No doubt, as com pered with this year, there would bs a gain of three millions; for there would be the falling in of the Long Annuities, amounting to two millions, and an additional taxation of ono million. On the other hand, however, the income-tax would have ceased, and that amounted to more than six millions. That year, therefore, would be worse by three millions than this. With respect to the proposal to lay an increased duty on spirits, that was a proposal which ovary one must cordially approve, and which their friends from Ireland had only opposed with a qualified degree of opposition which was to be ex pected from representatives of the country. With respect to another point, the stamp duty on cheques, it must be admitted that, to a Chancellor of the Exchequer, it was a most inviting proposal, espscially as the receipt tax had turned out so satisfactory. There would be a great resis tance to it, however, and he should not be at all surprised ifdidnot happyultimately pass into law. On the whole , however, ho was to concur in the proposals of the right hon. gentleman ; and ha could only have wished that he had retained an income-tax of 2d for one year longer, whichonl bonds, would have met the payment of the Exchequer b s, and pro v id e d f or th e t o t a l ex ti n ction of the income tax in 1860 Mr. M. T. BASS said he cool I not join in the anticipa tions of the extinction of the income-tax in 1860, nor did he believe that, if we ll regulated, it would be objectionable. Indeed, he fe s w heuldbe sc s , o a rry to see the income-tax entirely removed from out fi for a Kendal had talk' .system. His object in rising was words witeheinreedgatto-dhitmo thatthe Eitthaemhpoiliumtyemon. tobe mem ber say cheques, is to which .i. taken but side of the question into view. wa s a p ie: b o n w y that starn p i et . 1 ( ..2 e1 a r. Bass) had drawn a morning seemed ha . ; cheque in Staffordshire L iin t L t on that cheque abe paid in Staffordshire on a draft for such should w hereas a cheque drawn in Lond on for I,ooer sh a o lnu u o ld n la t e exempt from all duty. (Hear, hear.) Ho quite approved of the proposal. M r . W. WILLIAMS said his piincipal objection to the financial statement of the right hon. gentleman was the great increase of expenditure. The amount of the budget of 1552-3, when the Earl of Derby was Prime Minister, was 5),790,000/ , yet in a time of peace that sum had been increased to 63,000,000/., and making every allowance for the cost of collection of the revenue, there was still an in crease of 7,700,0001. He was sorry, too, that the right hon. gentleman had not made provision for the payment of the 2,000,0001. Bonds, and the extinction of the income tax. In that respect be considered the policy of the right hon. gentle Pan, in adding to the debt in time of peace, was extremely objectionable. He approved of the duty on cheques, and could have wished that the right hon. gentle man bad imposed a probate duty on real estate. Such a duty would have realised 2,000,000/. Sir F. BARING said that expectations having been held out to the country that the income-tax was to be removed, the financial arrangements of the right hon. gentleman admitted those expectations to be valid, as regarded the great party whom he led, and the house adopted the repre sentation. That, to his mind, was a great advantage, and so great a one, that he should have been prepared to support the right hon. gentleman in proposing taxes of a more objectionable nature than those which he had pro posed for the purpose of obtaining it. (Hear, hear.) His right hon. friend the member for Oxford said he should have preferred to retain an income-tax of 2d. one year longer, in order to pay off the Exchequer Bonds. He (Sir F. Baring) was not prepared to say that, finan cially, that was better. Moreover, if it had effected its object, it would have been at the expense of a breach of faith. Financial pledges were not always redeemed, but in his judgment it was a great object to observe rigidly a pledge so made. His hon. friend who had just sat down had spoken of the desirableness of effecting economical re ductions in the estimates, but there was scarcely the time for a Government, just entered upon office as it was, to go through the estimates for that purpose. He quite agreed however, with the right hon. gentleman the member for the University of Oxford, that the taking off of an income tax depended on the reduction of expenditure. Perfect efficiency in the public service was quite consistent with economy, and was not al ways to be measuredby the amount of money expended. Lord J. RUSSELL—I shall not long d e t a in the com mittee, but I cannot help adverting to one or two observhona tions that have been made, es; eci all y by the right . member for Oxford city. I confess, too, I cannot agree with the hon. member for Lambe th that is a time in which the Government could have reduced the expenditure below the amount now proposed. Considering the revolt in India and the state of affairs generally, I think the expen diture is reduced as much as it is possible it could be re duced—under the circumstances. There is one step which the Government have taken—no doubt adopting the inten tions of their predecessors—that causes rue regret, the dis embodiment of the militia. (Hear.) I believe that which was called into action last year to be the best and most effective force we can have. I therefore regret it is now to be disbanded. (Hear, hear.) As to the manner in which the right hon. gentleman proposes to meet the expenditure of the year. With respect to his equalisation of the spirit duties, that seems to me to be a very wise measure ; and I think Irish members, although bound to object—(a laugh) still felt the force of his observations upon that subject. As to the duties upon stamps and checks, more consideration is required, but I de not think they will create such embarrassment as has been supposed. There may, however, be objections of detail which are not yet apparent. There is one thing in which I agree with the right hon. member for Oxford (Mr. Cardwell). Of course I do not mean to say in what manner the money should be raised to pay the Exchequer-bonds or to con tinue the Sinking Fund—that is especially a difficulty for the Chancellor of the Exchequer—(a laugh)—but I own, without at all maintaining the wisdom of establishing the Sinking Fund, I think it would have been a good example if this country had been called upox to pay off in this year some of the debt incurred by the last war. (Hoar, bear.) My right hon. friend has said that se two million Ex chequer-bonds were to pay off a debt he inurred before the taxes were imposed in the first year of the war. It has always appeared to me that when a country enters into wer—and the doctrine is applicable to this as much as to any other country—it is a groat temptation to be able to raise thirty or forty millions at once, and if only the interest of that sum is charged upon the pre. sent generation it will willingly accept that burden and leave the greater one to posterity. It appears to me that the intention was that we were to pay each year a certain portion of the expenses of the war. The plan of the right hon. gentleman does away with that ob ligation. The nation acquiesced in that war, and if we had paid off a part of our debt we should have shown our opinion of the necessity of the war, and that we were wil ling to bear our burden on account of it ; when welcome to 1863 the Chancellor of the Exchequer of that day will naturally say, "This is not an obligation incurred by us ; we may as well leave it to posterity, and put it in the great mass of debt; let it be a part of the National Debt—we will provide for the interest, and that is the extent of our obligation." I certainly do regret that we are about to repudiate that obligation, as I think it would have shown a good example if we had prayed our readiness to meet our liabilities on account of the war we ourselves had waged. We are now paying, as the right hon. gentleman just observed, 23,000,0001. a-year for the debts incurred by our ancestors. The/ found it so easy to raise loans upon the best terms, and to leave us to discharge the ob ligation of re-payment ; lam sorry the right hon. gen tleman has not thought proper to teach the present gene ration a better lesson. (Hear.) Mr. WHITE said the Chancellor of the Exchequer had referre I to Cbina in order to explain a possible expendi ture, but he (Mr. White) thought the right hon. gentle man might be perfectly tranquil on that score, as the costs of the late war were paid with the utmost facility by China, to the extent of 21,00,000 dole. ; and so upon the present occasion, if those now representing this country in China knew their position they would be enabled to make proper arrangements for trade which would insure us against any ultimate loss o n that gccount. All moneys which the China war had cost, or might coat, should be regarded in the light of money lent rather than as money spent, because the expansion of trade which would follow upon judicious arrangements would more than repay to the imperial revenue any indemnification which might be exacted from them for the cost of the war. The CHANCELLOR of the EXCHEQUER —I must thank the house for the courteous and candid manner in which it has received the propositions which, on the part of the Government, I have had the honour of submitting. The position in which we found ourselves was one of great difficulty, as every hoe. gentleman has recognised, and ono in which it would have been impossible for us to have dealt with these matters had we not trusted to the indul gence of the house. (Hear, hear.) The right hon. mem ber for Oxford (Mr. Cardwell) has expressed a wish, in which, financially, I quite sympathise, that we had been able to pay off the two million bonds, but the right hon. member for Portsmouth (Sir F. Baring) has replied so well to that wi=le, and has explained so completely my feelings, that I need not dwell upon that point. We had to consider whether it was a matter of high policy or not that we should announce to the country that what it believed to be the com pact of 1853—and which, at all events, we know was a solemn engagement--should be carried into effect or not. It seemed to me, after mature deliberation upon the course which we had resolved upon, that it should be carried out in a manner that would not lead on the part of the nation to any suspicion ; that the country should not imagine that what we proposed was only for the moment and for the occasion—that it was only to be a semblance of fidelity, and not the fact. It appeared therefore to be necessary that we should make an arrangement with respect to the Ex chequer bonds, which should prevent the inference being drawn that we were preparing to throw impediments in the way which would rend e r the sincere carrying out of that policy impossible. I cannot share the apprehensions which wore expressed by the right hon. gentleman upon n ve that head ; for although the income-tax in 1360 may ha ceased— as I hope it will—l cannot believe that the re sources of the country will not be able to meet the claim of 1,000,000/e a year for two 3 ears. Has the right honourable gentleman no confidence in the pro gress of the prosperity of the country ? Does he sup pose that four or five years are to pass over oar h we are eads, an that our resources will not so increase, unless 1 visited with some great calamity—such as a war or a famine —that we shall be enabled to meet such a demand with per fect facility ? He has no confidence in increased revenue, in increased retrenchment, and in that Sycee silver which was promised by the hon. member for Plymouth. (Hear, and a laugh.) I, sir, live confidence that these bonds will be met by the revenue of the year, and that they never will became a part of the permanent ' debt of the count r y ; and I have the greater confidence, because I believe that there will be a ready disposition on the part of the nation to support sound financial views if they find that in this matter Par liament has kept faith with them. (Hear, hear.) It will be necessary to have a vote of Committee in Supply for the purpose of those bonds, and I have prepared a resolution which I propose to move to-night. That must be followed by a Committee of Ways and Means on Wednesday, and I trust that the house will not object to our taking that course. (Hear.) I have listened to all that has been urged with regard to the two new taxes which I ha ve proposed and, with respect to the first of them I must say that I think that the general expression of feeling on the part of the Irish members appears to be most genuin e and good natured, for I cannot believe that the opposition they have shown arises from anything more than a desire to exhibit that eloquence which characterises them, and in which I candidly confess they excel both Englishmen and Scotch men. (Hear, and a laugh.) I am sure they will find on re flection, however, that the measure is really calculated for the benefit of their country. One hon. gentleman alarmed me by stating that the policy which I was pursuing would open the door to smuggling; but I can have no apprehen !don —with the aid,of the constabulary, to whom will be confide I the duties of the late revenue police of Ireland — that smuggling will increase. The right hon. gentleman the member for the University of Oxford did me the jus tice to suppose that I would not take the rasponsibilty of introducing this proposition to Parliameet, had T not, after careful research, satisfied myself that there was no proba bility of there being any recurrence to illicit distillation r pa a om i s s oe e l d n a t I r an e db e d i u lni t t y i teurdpe distillation t ra tei Ir l l at r th i in Ireland. We have three times since 187)3, I think, a d , e onf o .o f w t . h p o r( s io e o. a o ha n t has sphieri t n es h o — t a nt b l 'g ee n awgh h g r e ce a hg r not ascribe that especially to the constabulary force, but I ask is there no change in Ireland? (Hear, hoar.) Isn't there a higher tone, a greater sense of duty and love of order in Ireland; and isn't it true that things that were done 25 years ago in that country no man would think of doing at the present time—not merely because the moral sense of the country is higher, but because its material pros perity has also improved ? (Hear.) Ireland has risen. She stands much higher, both in the material and the moral scale, and I am satisfied that the result of this change will whenit is understood, receive the approbation of the Irish people. It is not in my power to consent to postponing the resolution on the subject, but the hon. member for Cork will lose nothing by that. It must appear hereafter in the shape of a bill, and he will have every Parlia mentary opportunity of discussing it; but I trust that we shall hear no more of opposition, and that the Irish members generally will give it a generous support. (Hear, hear.) With respect to the stamp upon checks, I must inform the hon. member for Kendall, who seems to think that Chancellors of the Exchequer bring forward mea sures without giving them the least previous consideration, that I have endeavoured to make myself master of all the objections that can be urged to that proposition. They have been urged before ; and, nevertheless ' a res elution l eactioning a similar measure has been passed_ No doubt Th w e th i a i b ll ote fi tai t h e e ve m ry att i e uf r Oramliaatioonn the u h The same honourable gentleman has great d oubts of the accur acy of my estimate respecting ;the return s from 7se n l o ib m ra y r s y t h r e y the Post-office. Now , that was a subj ect on which I n did not presume to exercise any discretion. It is a depart ment on which it was impossible for me to form any opi nien, and I entirely depended, therefore, upon a ge ntleman who has the management of that department, and who, for thorough knowledge of the subject and for general in telligence, is scarcely equalled in the country. If the hon. gen tl ema n were to hear the manner in which that gentle man explains the apparent defalcation this year, and calcu lates upon the sum of 3,200,6001., which is the sum that I have fixed on, for next year , I am sure that he would feel that I was justified in adopting that amount. The hon. member for East Sussex has made an attack upon me for the 'oemtemptuous manner, as he said, in which I had treated the hop duties. Mr. DODSON was understood to explain that what he had said was that his constituents would not think that justice had been done to them by omitting to deal with the hop duties. The CHANCELLOR of the EXCHEQUER continued. —Well, to be accused of not doing justice is certainly not a compliment ; but I ask how could I, with a balance-sheet such as I had to submit to the committee, enter into the question of the hop duties or of any other duties to be re pealed ? (Hear, hear.) What encouragement have I to deal with the hop duties ? I once attempted to do so and I was unsuccessful. (" Hear," and a laugh.) Since then I have received what I may call a " monster deputation," which included almost everygentleman in Kent and Sussex. I received them, of course, with great pleasure, and felt highly honoured by their visit; but the primary and cardinal point of their policy was that no remission of thehop.duty short of its total repeal was for a moment to be attempted. Under those circumstances I could hardly suppose that the hon. member for Sussex could have contemplated that I could hold out to him or to his constituents any expectation of being able to afford them that relief which they sought, anti I may add that I have too much confidence in the courtesy of those gentlemen of Kent and Sussex who waited upon me on the occasion to which 1 have referred to be lieve for a moment that they could fancy I was dis posed to treat their claims with contemptuous silence. (Hear, hear.) That they are a suffering class at this mo ment I entertain no doubt; but unfortunately there are many such classes and districts throughout the country, and I cannot help thinking that with a deficit of 4,000,0001. before us it is a somewhat unreasonable proposition to make that I should entirely repeal the hop duties, because nothing short of their total abolition will, I am informed, meet thedifficulties of the question. (Hear, hear.) Now, the hon. member for Dec ()report (Mr. Wilson) has com mented upon the statement which I made this evening, and has stated that he does not feel much confidence in my es' imates with reference to the Customs, and still less with rospeet to those which I have made in the case of the Ex cise. He seems to be of opinion that there has been an extraordinary addition to the revenue daring the past year in the shape of spirit duties, for which I ought not to take credit in framing the estimates for 1858-9. Now, under the head of Excise for the year which has just elapsed appears an amount which 'may be called extra ordinary, but I doubt whether the hon. gentleman was correct in attributing the existence of that amount entirely, or even mainly, to the duties upon spirits. For my part, I believe it arose from the malt duties to an ex tent upon which we cannot now calculate ; but, be that as it may, I altogether differ from the hon. gentleman as to the principle upon which the estimates ought to be framed. I think, indeed, that in order to illustrate the financial position of the country, it is essential to call the attention of the house to some particulars connected with the va rious branches of our revenue for the year which may have just expired, but I must at the same time maintain that the only sound course to pursue in dealing wi t h the depart . ments such as the Customs and the Excise is to flame y o ur estimates in accordance with that which you believe will be the probable consumption for the year for which you are about to provide. (Hear.) You must not argue in this crude manner that, because last year 18,0 ,o,oeo/. were obtained from a particular source, you would be justi fied in estimating the revenue from that source for the next year at 18,230,0e0/. (Hear, hear.) Upon the contrary, you must take article by article, and frame your estimate upon the probable consumption of that article within the year for which it is your object to make provi rnsi which ai t cu he in o hn u ao g v h er e t laa t p o iede e t x b e e r f ci r s provi sion. I cannot, therefore, concur with the hon. gentleman in the opinion that extraordinary and eccentric circum stances, such as those to which he has called the attention o I f, estimates o t he co c cour se , shape which the estimates ought to assume. (Hear, hear.) disposedce the hift committee. o in flu ence ht t k t from o u . po tak ingpn thone upon myself the responsibility of ha vi n g framed the the contrary, I to the fullest extent accept and em brace them ; but I may add that I h ave bee n empowered to state upon the authority of those gentlemen upon w hose knowledge and experience I and every gentlem an who holds the position which I have the honour to occupy must place the utmost dependence — that there is notafieure which I have submitted to the committee which has not their fullest sanction. (Hear.) I have had documents containing a general view of the state of the country, its trade and manufactures, sent to ins by persons who hold influential but still subordinate positions to those emi nent gentlemen to whom 1 allude, and who take a much more sanguine view in reference to the Customs than I have thought I should be justified in taking as the basis of the calculation which I have made. My object has been to lay before the committee estimate which I conceived to be fair, temperate, and cautious. (Hear.) I have the utmost confidence in the progressive prosperity of the country. (Hear.) Ido not look forward to any sudden or violent change in that respect ; but I anticipate that steady and gradual improvement will continue to take place which, if no calamity should befall us, will, with the blessing of Divine Providence, Ca ise our rag u cos next year to assume a more satisfactory aspect. (Hear.) It remains for me only to thank the committee once more for the indulgence which it has extended towards me this evening, en indulgence which I can assure you I deeply feel. (Loud cheers.) Sir H. WILLOUGHBY asked what change the right ho e gentleman proposed to make in reference to Exche quer-bonds ? The CHANCELLOR of the EXCHEQURRe-It is my intention, when the bill founded upon these resolutions is before the house, to bring under its notice the accounts of the appropriation of the public money, and I shall then state what are the measures we propose to bring forward on the subject generally, and what the course is which we re commend to be taken in the case of Exchequer bills. Various resolutions embodying, the proposals contained in the financial statement were then put and agreed to, and the hews resume 1. THE RgCALL OF LORD HOWDEN. Sir DE LACY KVANe then proceeded to call the atten tion of the house to the subject of the recall of Lord How den from Madrid. It was, he said, generally thought that Spain was in a most deploralle state. This might be so ; but he expressed his confident opinion that there was no country in Europa which during the last ten or twelve years had made greater material progress than that coun try. However difficult were the circumstances of the country, it still enjoyed the form of a constitutional go vernment, and it was most important that our policy with respect to that country should not be of a retrogressive character. The Quadruple Tr sty, from which such good results had been obtained, should not be suffered to bo de parted from. Since the present Government had come into office some important changes had been made in the diplo matic service at Vienna and St. Petersburg. whore our representatives had previously expressed their determina tion to resign. This was not, however, the case with Lord Howden at Madrid, whose recall had produced the greatest astonishment to all parties in Spain. No one in that country was aware of the causes of the recall of Lord How:ten. All the organs of publie opinion, of every shade of politics, had expressed their regret at the recall. What rendered the case still more remarkable was the recall of the French Minister, Turgot, at the same moment as Lord Howden. He should like, therefore, to know on what grounds this removal had been made, and he had no personal interest whatever in the matter. Ho thought it most important that some information should be given to the country on the subject. He could not but re gard the recall of that nobleman as an unpopular act on the part of the Government, and he trusted that the right hon. gentleman would be able to state that. this change had not been made in consequence of the dictation of any foreign Court (Hear, hear.) Mr. S. FITZ .r.IERILD said there was not the slightest justification for any of the insinuations of the hon. and gallant member, and he could not but think that the course proposed was an almost unprecedented one. (Oh, oh, and ironical cheers.) The hon. and gallant member had said that coincident with the recall of Lord Howden there had been the recall of the Marquis of Target. Ile was confident that no representations on the subject had been made by the Cabinet of France, and if such had been made, he was confident that they would not be listened to for a moment by her Majesty's Government. It was perfectly true that the recall of Lord Howden was rather abrupt, inasmuch aa it was first announced by the telegraph ; bat thee upon the same day that the telegraph was sent to him, a private letter to the same effect was forwarded to him by his noble friend the Secretary for Foreign Affairs, couched in as courteous language as it was posaible to use. The only reason why the telegraph was employed in the first in stance was to present the intimation of the earliest an nouncement of his recall reaching Lord Howden through other channels than her Majesty's Government. He could add that although in recalling L or d Howden, hi s no bl e frieud only exercised what w as his undoubted right, ho did not thereby intend to cast any ceusuro upon him. (Hear, hear.) All that he intended to convey by the act was the expression of an opinion that, under the peculiar circumstances of the moment, England would be better served by having a different representative at the Court of Madrid. As far the supposition thet iu taking this step h er Majesty's Government had a secret intention of promoting certain dynastic changes in Spain, he could only say that no such absurd idea had ever been entertained by the Government. And certainly if they had entertained such a notice), it was not to the Court of Denmark they would have gone to select the instrunant of their policy. No, they would have looked elsewhere, instead of appoint ing to the rest ono of the most clearsightod and accom pli,hed ser va n ts of the Crown. (Hear.) - Lord PALMERSTON quite agreed to the general prin ciple laid dovn by the hoe. gentleman, that with re g ard to the diplomatic appointments it was expedient that the advisers of tle Crown should be at liberty to choose their own diplomatio agents. At the same time he did not think the present Government as the boat entitled of all others to maintain tie principle, because he remembered that the noble lord at the head of the Government had called upon Parliament or ; a former occasion, and with some success, to interfere with regard to the freedom of the Government of the day in choosing their own agents at very important foreign posts. On the other baud, with regard to the man ner in which ports Howden had been recalled, he could not say that he thought the explanation of the honourable gen tleman at all satisfactory. (Hear, hear.) He did not question the act of the Government, but he must declare his inability o recog n i se the necessity his recall being communicate 1 to Lord Howden in so absu pt a man ner. It certainly seemed strange to make the announce• ment by, as it w er e, an electrical shock,in order to pr o ven' -; eble I shall he 1 r miny comp laints and there will be many the contents of a 'courteous and amiable letter froai oozing letters and deputations with respect to it. All that , out. He should have imaginedthe F.)reign-office know how I am prepared for ; but is it possible to propose any ' to keep their secrets better than that house. Ile felt it due addition to taxation without undergoing that ordeal? The ' to Lord Howdm to boar testimony to the great ability question is,—ls it just and will it be beneficial? As to its with which he lad discharged his important duties during jus ti ce , I propose to do that which is the first principle of a long course of time at Madrid ; end therefore, both upon legislation in finance—l propose to put an end to an ex- private and public grounds, he lamented the necessity for emptier). As to the result of the measure, all that I can placing the truEt in other handy. (Hear, hear.) say is, " try it." (Rear, and a laugh.) When it is neces- Mr. KER said that whatever might be the merits of sary to rare revenue, and a measure is proposed which is Lord Howden, it was beyond the possibility of dispute that just in principle,-I think that the best way of settling all the Minister appointed to succeed him was one of the ablest k disputes as to the result is to try it. (Heti%) So much public servants kt the disposal of the Crown. with respect to the two new taxes which I propose ; but , The house thin went into Committee of 1 there have been some miscellaneous observations and ap- SUPPLY. peals ma-le to myself in the course of the discussion which Th e f rat vote Taken was for a sum of 2,00),000/. to pay it would be a want of court es y not to n o tic e . The hon. off Exchequer-bts during t he currant year. member for Ripon has declared that there is considerable The next vote agreed to was for a sum of 34 , 6 7 1 .., to mystery connected with w hat accrues from the succession duty, and he asked if I woul d ob j ect to l a y a return before wages of labourers in the mail establish ments abroad. the house of what was obtained fr om that source. The 1 complete the aiaount nec essar y for the payment of th e The next vote was for a sum of 789,7421., to complete the honourable member, however, will find all the informa- sum voted for relit stores, steam machin.ry, outfits, &c. tion that he requires in the annual financial accounts. Admiral BUNCOMBE though the re(tuction which had t a ir a k se eh ciirua p jt l oe a H c s e uNp u p n pl d yA er oKf th irN i r s oo h yT e e a ro d sN was tor wfalse economy ; amo - merit of emergency it might be impossible t o obtain an said es the reduction had only been made to the vote after the most protracted delibera tion on the part of the Board of Admiralty, and that the vote had been kept open till the last moment with that view. Lord ELCHO, although not having the smallest preten sions to the character of a sailor, must warn the committee from approving of a suggestion given upon a former even ing by the gallant admiral opposite (Sir C. Napier). The gallant admiral had expressed a strong opinion in favour of the very ships whose sides should be plated with iron for war purposes. Now he believed the adoption of such a policy would be, to say the least, very questionable. During the late war the French had employed a ship of that character before Kimburn, and it certainly had not proved itself shot proof. If wrought iron shot were fired at wrought iron plates the effect would be the same as under the present system. Even the repeated discharge of cast iron shot against such a surface had the effect of splintering the inside timber coating of the ship to such an extent as greatly to endanger the lives of the seamen. Sir C. NAPIER hoped the Admiralty world lose no time in trying the experiment of wooden-sided vessels against vessels coated with wrought-iron plates. They had plenty of old three-deckers applicable for the purpose. Mr. LINDSAY thought that some means ought to be devised for -enabling the House of Commons to form an opinion as to the character and size of the ships that were being built. The votes ought to set out such details, as there were plenty of gentlemen having seats in that house who were capable of forming proper notions on the building of ships. We were building large ships for no reason that he could learn, except that France was building large ships, and the reason given by Fr ance was that England was building large ships. He could imagine a small ship capable of sinking half a dozen large ones, which could not touch her. (Hear.) If she could go one knot an ho u r faster, and throw shot five hundred yards further,h would render them utterly worthless. He should advise that this building of large ships cease, and offer a premium for designs of ships to give a greater speed, with greatest amount of stowage, &e. We should endeavour to get ships of the greatest speed, and then they would leave every thing behind them. (A laugh.) He then alluded to the recent improvements in anchors, as an example of the re sult of a competition similar in principle to what he sug gested. The Admiralty anchor was found by the committee of 1853 to be the worst in use, and yet they had continued to use it to that day. Trotman's was the anchor then stated to be the best. We were losing a large amount of money by continuing to use the antiquated anchors which had been declared to be the worst. He thought it advis able in all cases to adopt the principle of public competi tion, and that without pledge to accept the lowest tender. In many eases it might even be better to accept the lowest tinder. Lord C. PAGET differed widely from the opinion of his noble friend. Ho referred to the opinion of Mr. Moorsom as to the comparative merits of iron and wooden sided ships as to the resistance to shot. There was a limit to the size of shot, and if they could get a vessel able to resist shots of a little more than eight inches, which was the most they expected to get, that might be con sidered as shot proof, at least as regarded horizontal shots, and would resist cast-iron shells. Guns of snore than eight inches calibre were unmanageable and dangerous to the ship. Thus we had arrived at the limit of the size of the shot, but not at thelimit of the strength of a ship's side. If a four inch iron casing weal resist an eight inch shot, then a casing of six inches might be con sidered sufficient for all purposes. Mr. WARRE said the vessels sent out to China wire not intended for solong a journey, audit was by agaod pro vidence that they had arrived safe. He would throw out a suggestion eshether it was worth while to subject them to the risk of a journey home. The engines might be taken out. If one of them was lost on the passage hcnae in bad weather, the loss would be greater than if all were left. It was clear we were on the eve of great naval im provements. He referred to the committee before which Lord Carlisle gave evidence, when he said that if we wore at war with ships moved by steam machinery, which was now used for every other species of vessel, there was no knowing what the expenses of such warfare would be. Sir F. SMITH observed in reference to improvements in warfare, that the Marquis of Anglesea had first eng gested the introduction of the Minie rifle. Lord PALMERSTON said that Lord Vivian was the first person who drew the attention of Government to the improvement of the means of warfare, though Lord Anglesea had afterwards taken up the matter with more practical results. Sir J. ELPHINSTONE said that in the case of iron vessels every one who bad been on board of one of them must come to the opinion that the vibration to which they would be subject would render them useless in a few years Sir H. WILLOUGHBY asked:what security the com mittee had as to the amount that would be spent in stores ? Without some such assurance he did not see the use of all their discussion. Supposing a surplus on last year's votes, would he think himself justified in using that, or would he pledge himself that only the sums voted would be used. Enormous sums of money were wasted in the purchase and sale of stores. It was perfectly astounding that her Ma jesty's Government appeared to be the hugest dealers in stores in the world. He believed it was a serious item of Bost. It came out in a committee that many of their old stores were in point of fact new stores. (Hear, hear.) Sir F. SMITH related the circumstances under which he had communicated, with Sir J. Burgoyne and the Marquis of Anglesea on the subject of the Minie rifle. He was aware of the merits of Lord Vivian in connection with this subject. Lord ELCFIO said that he bad only asserted that Lord Tiardinge had suggested the introduction of a lighter. weapon. Captain VIVIAN remembered to have formerly seen in the room of Lord Vivian when in office samples of all the arms in use in Europe. Lord Vivian was the first parson who introduced the two- g roove rifle in the army. The irtieie invention consisted o f an improvement in the hall, and not in the rifle, which was precisely similar to the two-groove rifle. He did not wish to detract from the merit of those who had .introduced the present weapon, especially for having placed it in the hands of the common soldier—(hear, hear) ;--but the noble lord the member for Tiverton was quite justified when he claimed for Lord Vivian the merit of having first drawn attention to the subject. (Hear.) Sir J. PAKINGTON could give no pledge that these estimates would not be exceeded, nor could he give any assurance that moneys appropriated for one purpose could under any circumstances, be applied to others. He had hoard no complaint with respect to the amount of timber in the dockyards. Perhaps the best thing that could be done with regard to gunboats would be to make them available for useful purposes in whatever part of the word they might temporarily come into disuse. He admitted that the question of cutting down our three-deckers hon to single ships had been mooted. (Hear, hear.) The . and gallant member for Southw ark and others had doubt sug gested a duel between the two cla sses of ships. No the hon. and gallant admiral was prepared to tak Bu e the command of one of the opposing vessels. (A laugh.) t who was to command the other ? Sir C. NAPIER —The First Lord of the Admiralty. (Laughter.) Sir J. PAKINGTON—No doubt. (L aug hter.) But, to spa* more seriously, he assured the house that the question was now under the consideration of the Surveyor of the Navy . . (Near, bear.) Mr. W. AVILLIA.MS complained of the large sums ex pended for these purposes. The votes for this year were more than 2,000,0301., and dwell , ' the last six years they had reached the enormous sum o(20,03 0 , 030 /. o amount Mr. BENTINCK. comme nted upon the larg Atka as to H Willoughby's in terrogatory as to what had been done with respect to the expended the m s r y . s t t system which a p w o i n i teahnDetshhooe anchors, sale of old stores. u f for t i info rmation Con. CODRINGTON urged the more continued use of the Minie rifle. Sir C. WOOD (who had been indirectly appealed to) re-urged edAdmiralty ask asked d i said that he had not brought down papers with him which would have thrown a light upon what had been done as to the sale of old stores ; but he replied generally, that only such stores bad been sold which were in disuse for the par ticular purposes for which they had been intended, and which would be converted to other purposes. Sir J. PAKINGTON thought this answer conclusive ; and replying to Mr. Bentinck's question, said he believed thatTrotman's anchor had not come into general use, owing to the existence of great numbers on the old construction in use. (Hear, hear.) The vote was then agreed to. The CHAIRMAN then reported progress, and the house resumed. LOAN SOCIETIES BILL This bill was recd a third time and passed. GOVERNMENT OF INDIA (No. 2) BILL. The CHANCELLOR of the EXCHEQUER moved that this bill be taken on Friday. Mr. HORS,IAN suggested the discharge of the order. (No, no.) As the house had resolved to proceed by resole t iens, it would be better to take this course, thus leaving the house unfettered. Proceedings would be facilitated by discharging the order. The CHANCELLOR of the EXCHEQUER thought the objection now raised rather technical than material. There wore two bills before the house, and on the whole it ap peared to him that the objection was technical; and that unless both bills were withdrawn, it might be inconvenient to take the course recommended. He believed the course he proposed was according to precedent. It had already been agreed to consider the resolutions on Monday, and he thought it far bettor to suspend both bills until the opinion of the house as to the principle of the two measures had been affirmed. (Hear.) Lord PALMERSTON hoped that the course proposed by the Government would not be construed into an affir mation of the principle of No. 2 Bill. It was yet for the house to determine whether the proceeding by resolution was the more advisable course. Mr. AYRTON suggested the withdrawal of No. 2 Bill, as the Government in their resolutions ran so counter to the principle of their measure. The second reading of the bill wag then postponed till Monday. POOR LAW AMENDMENT BILL. Mr. CROSS obtained leave to bring is a bill to amai the act 59th Geo. 111., cap. 1?, " to amend the laws for the relief of the poor. The house then adjourned at 20 minutes after twelve. AQUATICS. TRADESMAN'S FOUR-OARED RACE, The members of the Pimlico and ChelsQa Unity Rowing Club opened their season yesterday evening in a four-eared race for money prizes from Putney to Batter• spa-btidge, the following being the results Whit:-1 Mr. Baker. Mr. Bette. Mr. F. L'dyftrO. Mr. a Liayard. Cole, C . xwain Red-0 Mr. Blythe. Mr. Cooper. Mr. R mea. Mr. Reid. Fox, daxwaio. Blue— 0. Mr. Stovell. —...., _. Mr. Redgrove. Mr. Witcher. Mr. W. Cuiack. liallday, Ccozwain. It was from end to end one of the finest raCavin Tg r seen. Rtql and Wbito went away together, Red h a blight lead, which they kept all the vvay down, not bfing clear to Batteroea ; there R,,,-1 ar.d 'White ceijon ally folded, and it v.. a, given in by the umpire to White. 13,!;1 cane in fiat by half-a -length, and White headed Wue by the same distance, the I.ttter having met with a slight accident. (From the Tomes.) We are all of us familiar with the buoyancy of our re venue, the elasticity of our resources, the fertility of our productive powers, and such phrases or facts ; b u t th ere is one quality of the British Exchequer which has hardly had due justice, and which appears to want even a name. Something can always be " rumm aged " out of the Ex chequer by a good search in to all its holes and corners, — enough to supply the present emergency. There aro house wives and households with an eccentric sort of thrift who delight to play at hide and seek with money—generally in small sums, sometimes in a larger way. So, when a sud den demand is made--when, towards the end of the quar ter, the baker loses patience — the re is the money in the desk, and the silver in the purse , and the collection in the missionary box—of course to be repaid—and Miss Lucy's hoard of fourpenny-pieces, and the balance of the unsettled account with Unale William, and the old guineas, and the foreign coins, and other odds and ends, making up a won derful sum, considering the petty scale of the several items. In fact, an idea of affluence is produced by the review of sums which a month ago it would have been thought ridiculous, if not sacrilegious, to touch. The present Chancellor of the Exchequer appears to have bad his eye first on these relies of old thrift and wrecks of specu lative finance. Instead of drawing deeper on the inexhaust ible and increasing resources of the country, or laying on:a huge tax, he pulls down from its dusty shelf the time-ho noured Sinking Fund, and lays his profane hands on Mr. Glad,tones's pet scheme of finance,—the Exchequer-bonds. Why should we pretend to pay our debts, he asks, when we havn't a surplus ? Why should we not renew a running bond if there is the the same need of it now as ever ? The truth is, we must face a deficit of four millions this year. It is caused not by the decrease of the revenue, which. in spite of untoward circumstances, continues to such increase; not, in great measure, by increase of expenditure; but by our professed obligation to pay old debts and the the t . cessation of taxes. After the repeated resolution of the now country and the legi s l a t ure t o ge t r id of the Income-tax, of the Mr. Disraeli will not propose to put off further the reduc- autho tion of 2d. in the pound. So h e ma kes out his budget as autho follows : Postpone the operation of the Sinking Fund • " 2 ' ' that is good for a million and a-h a lf. R e new till 1860 the that I two millions Exchequer-bonds now falling in. The balance State, of rather more than half a million he makes up by equalis- relatii hag the Irish and English Spirit Duties ; and he proposes are or to obtain a surplus by putting a penny stamp on bankers' India checks, which he expects to produce .300,0001. a-year. of Pr The only feature of importance in this speech is the the a , Chancellor of the Exchequer's view of Sinking Funds and generallyof all attempts at &regular system of repayingdebts. Ind„ir The right practice, and the only eound system he appears to consider that which is really no system at all, applying the the annual earplug to the reduction of the debt. Certainly, every other system has hitherto proved a delusion, and scarcely pretends to be more. For the proof of this we have only to follow the Chancellor of the Exchequer in his review of the several systems at work. Last year we were actually paying off a quarter of a million of the national debt by the operation of the general Sinking Fund ; we are now paying a million and a half a-year by the operation of the War Sinking Fund to pay the debt of the late war; and this year two millions of Exchequer-bonds, which are only a terminable form of national debt, fall due. All these three processes are founded on the supposition of a revenue exceeding the expenditure. It was antic ipa ted that they would be ; aid out of revenu e ; and, could it have been shown that when the time came we should have to borrow for the purpose of carrying out any one of these three measures it would not have passed the house. Yet, in fact, we have had to go into debt, and aro doing so still, for the very purpose of making these repayments of debt ; sad, like met silents trading without capital, we are simply borrowing with the left hand as much as we pay with the right. Such a practice cannot be justified in theory. The system of, a fixed ',annual repayment of debt was, as Mr. Disraeli observes, in the great war in the be ginning of the century, and utterly failed. It has always proved a loss, as in order to pay our debts, we have borrowed on woes° terms. The cnly question is the moral effect. Mr. Disraeli thinks it ha 1. It makes us imagine wo are reducing our debt when we are doing no thing of the kind. It also confuses and falsifies the public accounts, telling us on ono side of them that there is a sur plus, on the other that there is a cloaca. The supposed good moral effect of the practice is the national admission of the duty, and the prescription of an exact amount. The frequent disregard f.nd consequent inutility of a self imposed law does not prove it a had one. Such rules are addressed to those who have the strength to observe them. The B. itish public clearly has not that strength ; perhaps circumstances do not leave it the power. Is such a moral rule, then, as a Sinking Fund applicable to our case The question is hardly one for mere abstract considerations. If it can bo shown that owing to the operation of the general Sinking Fund, or any other, we have repaid more debt than we should have done otherwise, that is a reason for retaining some such system. If no such results can be shoe n, let us fall back oa our national honesty and thrift, and have no Sinking Fund. The Budget itself is a very practical question. How are we to meet a deficit of four millions? Whatever may be said of the moral effect of a Sicking Fund, or any system whatever for the repayment or the determination of our debts, that moral effect must be in abeyance unless we are I actually dimi uishing the debt. This was not the case last year, nor does the Chancellor of the Exchequer expect it will be this year. Ho proposes simply that, as we are not actually repaying, we must suspend the nominal process of repay ment.lr G. Lewis admits this to a c2rtain extent. The two millions of Exchequer-bonds - he appears to regard as a financial cap riment,,based oil the supposition of an increas ing surplus, and therefore now a failure, or, at least, not yet successful. Let them be renewed till 1860, or any more convenient time. But ho maintains the moral duty of im mediately repaying the debt contracted by the late war, end is therefore against borrowing again to repay the million and a half now payable under the War Sinking Fund. There is much force in the distinction, and S'r G. Louis is entitled to make it with authority. Mr. Gladstone broadly maintains that the deficit may he met by roducieg the expenditure. This opens a very large question, and takes us away from the Budget a; together. The Chancellor of the Exchequer confesses that he is not himself in a posi ticn to dictate the expenditure necessary for the defence of the country under present circumstances. The scale of our army and navy, of our ships and fortifications, depends on matters beyond his control. Everything here augurs expense. England is an expensive country. A House of Commons which, at a moment's warn ing, throws down the gauntlet to a man at the head of six hundred thousand soldiers, and a navy scarcely less than our own, is an expensive body. The system of trial by jury which produced the acquittal of Bernard is an expensive institution. It must not only be surrounded by the ocean, but backed by a good army and navy. We may set down the professed conspirator IMMI dealer in fulminating powder and grenades himself at a million a year to the country. Luxuries of this high class and this piquant flavour must he paid for. Aeh ong national sentiment and the habit of feeling a deep interest in the affairs of all other nations must be expensive. We could hardly wish it otherwise. Who cares for cheap benevolence, cheap patriotism, or cheap virtue of any kind ? Now, wo are a great nation, and cannot do it cheap. So we cannot follow Mr. Gladstone's advice just now. At all events, we must wait till his own Parliamen tary tactics arc no longer of a sort to entail additions to our national defencv. S. That such Secretary of State shall be responsible .-..0e government of India and the transaction of busi ness in the United Kingdom relat7eg tLereto in the same manner and to the same extent as any of her Majesty's Principal Secretaries of State are responsible in the several departments over which they preside. " 4. That, in order to assist such Secretary of State in the discharge of his duties, it is expedient that a council be appointed of not less than twelve nor more than eighteen members. "5. That, in order to secure the greatert amount of knowledge and experience in the management of the affairs of India, it is advisable that the principle portion of the members of the council shall have served in India for a term of years to bel;_erited by statute. " 6. That, with a view to the efficiency an I indepen dence of the Council, it is expedient that it should be partly nominated and partly elected. " 7. That the members of the nominated portion of the Cc.eincd shall be selected "ny her Majesty, subject, as general rule, to the quel ficat;on above expressed, and one-half at' least ot the elected members shall possess the like TaalPettion. " S. Tnat the members of the elected portion of the Council shall be chosen by a constituency composed of persons a dko have previously held military commissions or civil aplointrnents in Itlia, in her Majesty's service er in th et Of the Government of India, or who may pod sees a d.rect interest, to an amount to be specified, in some propirty charged or secured on the revenues or territories of India. "9. That the Council shall be presided over by the Secretary 'of State, or by some member of the C.,uncil to be nominateThyhina Vice-Preodent. " 10. T i bet arrangements sha 1 be made from time to time by the S ,cretary of State and the Council for tire tueetinge of the Council, for the made of procedure at such meeting, and for the distribution and transaction of bu-iness. " 11. That all despatches, letters, orders, and com municat.onA shall be addressed to the Secretary f State, and shhti be open to the in-pe„;tion of ev ry member of the Council, erre, pt such ac are no .v by law addressed to the Secret Committee of the Court of Directors. "12. That the recommendation cf Fersons for Er,t appointments shall be made to ha. Maje,ty by the Se cretary f State, with the concurrence of the Council ; and the same rules shall be observed in the making ot such recommendations as have been fel:owed by the Court cf threctere in the making of such aepointrneete. "13. Thet, for the purpose of ascertaining the fi:nere f persons for the several appoi , tments fur which they way he so recommended, the same rules f r the examina tion of cadets and of ch , rkb shall be adhered to which are now followed by the Court of Directors of the India Company, until the same be altered by the Secretary of 8 ate and Council of India. "14. That provision shall be made for transferring to the Crewe all the real and personal property of the Company, except their capital stock, and the dividend thereon, so as to yes - , the Caine in her Majesty, for the purposes of the Government of India ; for con tinuing eliarg,! on the reveuuei of India alone of the dividend on the capital stock of the said Company until the redemption thereof, end cf all the territorial and other debts and engagements which are payable by the Company out of the revenues of India; for auditing the ecce;ul,t3 annually before Parliament ; and fee securing the preference given Ly the 3d and 4th of William IV. to the dividends on tle capital stock of the said Com pany and the right e f the said company to demand he redemption of such dividends, and their right on the Security Fond undiminished and unaffected by the transfer to the Crown of the direct government cf her Mejesty'e Indian possessions." NAVAL AND MILITARY INTELLIGENCE. (Frew the Daily Ncws.) Mr. Disraeli's Financial Statement has, at all events, the merit of being neither very complicated nor unreason ably diffuse. A certain amplitude of manner and redun dance of expression appear, by the general consent of all Chancellors of the Exchequer, to be regarded as absolutely indispensable in addressing the Committee of Ways and Means. If our income exceeds our expenditure, it should, of course, be appropriated to the liquidation of debt ; but to incur debt in order to pay off debt is an ope ration hardly less objectionable in the case of govern ments than it is ruinous in the case of individuals. By thus suspending the War Sinking Fund and deferring the pee riod for the liquidation of the Exchequer Bonds, Mr Disraeli sweeps away 3,5C0 000/. of his 4,000,0e0/. defi-* ciency. He has still 500,0001. remaining to provide for before he can make both ends meet. His mode of accomplising this very necessary purpose is by imposing two now taxes. By the first he equalises the duty on Irish and British spirits ; raising it on the former from 63. 2d. a gallon to Bs., the duty now imposed on the latter. The calculated produce of this increase of duty is 500,0001., the exact sum wanted for filling up the deficit. In order, however, to be quite sure about the matter, and to secure a little elbowroom, Mr. Disraeli falls back upon a device, familiar to more than wee of his predecessors, of imposing a penny stamp on all bankers' cheques. Such is the financial scheme of the now Chancellor of the Exchequer. The imposition of new taxes, however small in amount, is necessarily unpalatable to the classes more immediately affected by them. That the banking interest should protest against the penny stamp on drafts was of course to be expected, but it is difficult to conceive how a tax so trifling can seriously impede the current of those payments which are principally made by cheque. In disclaiming all intention of seeking to re-impose the lapsed 2.1. of the income tax , Mr. Disraeinas probably se cured the substantial popularity of his budget. A voi y ge neral apprehension had come to ba entertained that the exigencies of the public service would render such a re-im position almost indispensable. Happily the elasticity of the national resources has proved far greater than under all circumstances could have been expected ; and had the re mitted portion of the tax been renewed, the estimates would have shown a considerable surplus. Mr. Disraeli has, we think, shown a wise discretion in not unnecessa rily resorting to a resource so generally odione as a re-im posed income tax. A Budget that, rather than replace on the whole middle class of the throe kingdoms a burden they had just shaken off, imposes a new duty on Irish spirits and a p Amy stamp on bankers' cheques, ought to have more to hope from the support of the many than to apprehend from the clamour of the few. Apart from the Banking and Whisky interest, the reception given to Mr. Disraeli's Budget by the House of Commons was on the whole favourable; and the new Administration may, ac cording to present appearances, feel some confidence that they have contrived to extaicato themselves without dis credit from ono of the moat formidable passages of the nd session. (From, the Morning Herald ) The meet satisfactory feature in this most satisfactory budget is of course the adherence to the compact entered into in 1853 by Mr. Gladstone for the gradual re duetion of the income-tax. The Chancellor of the Exchequer de serves great credit for having, under every disadvantag e, adhered to that arrangement. A declining revenue arrldiano increasing expenditure would not tem p t Mr. Disraeli violate the compact that had been made with the la:. of The financial statement was well received en ,! Exchequer had been pleged to make such a ina .0 y "" the house. Mr. Ball l " thought that fey `u meet to the house as that which had beienne.p.:., a ____. right hoe. gentleman —namely , that theenpi!„, atb,inac,nmKern't dually progressive and ultiwateloysao ti meats. This was ne of the property tax was to be - b vejTe.t feelings of gratitude would be received with I , ho I li r t i 6; Glyn , (. 1 1 1 e . I: e y i t t h i e e . "couldnot help moftvece,iixouthehsee was sure the kingdoin.,: right hon• gentleman e ee's.e discretion both in his mode of pro- i expressing 3 tthtohuegltt3tthcenirlugltr tillia( his satisfactione n " had shere.nde-btslend also in his mode of dealing with aiding f" r ~ Mr. Baxter " had to express his en the new tv.xation: measures proposed that Chancellor of the by the Exchequer. He thought evening tire concurrence in the financial they were characterised by great prudence and dis , cretion, oid „i e g the circumstances of the country, and that they would receive the approbation of the house." Mr. Gladstone " was glad to perceive, from the tore mil fe 1. jog of the hous ,, , that it was favourabie to the general spirit of the proposals of the right hon. gentleman the Chancel lor of the Exchequer." Sir F. Baring approved, T.,-,rd J. Russell ventured up el qualified praise, and even Mr. W. Williams spoke in terms of congratulation. Such was the reception to the Budget accorded by members sitting on the opposition benches, and independent gentlemen ; and ,~~ .-~ ."~ THE INDIA _RESOLUTIONS. .9mai ..c.-11toTT ' M : (en:lzgw...aro: than, HOUSE OF COMMONS, MONDAY ' Aran:2ll; '"I P6 "Mr, Chancellor of the Exchequer Gov Ogiotc3 oT ment of •, India,—To move that this house w ill ' upon ; r rl i cla y ' th e 30th day of this inst. Ap ril, resolve itself into aoom cnittee to consider the Act of the 16th and 17th of Vic. ,r!" toria, cap. to provide for the government of India.' ' , , 4 :7 ° ,C:i; t2 . "RESOLUTIONS TO BE PROPOSED BY THE CHANCELLOR 01P 1'` 61,1- ` I LA THE EXCHEQUER ON TH E 30TH OF APRI L. r•LS: "1. That, as the territories under the government of oT the East India C om pany are by law to remain under cremes government only until Parliament shall other wise ,eovli i e, this house is of opinion tha t it is expedient that - -71, ransfer of such government to the Crown should ake place, in order that the direct superintendence whole empire may be placed und er one executive That for this purpose it is expedient to provide her Majesty, by one of her Principal Secretaries of 1, shall have and perform all the powers and duties ng to the government and revenues of India which • may be now exercised and performed by the East Company, or by the Court of Directors or Court )prietors of the said company, either alone or with probation of the Commissioners for the Affairs of uc~ta~ Yesterday orders were received by the officers in command of the Ist, 2d, and 3d battalions of infantry at Chathain Garrison, directing reinforce men. s, to the number of nearly 1,000 men, selected from the Bth (the King's), 10th. 19th, 20th, 23d, 24th, 29th, 32d, 35th, 43d, 52d, 53d, Glst, 70th, 75th, 81st, 84th, and 94th Regiments, to be held in readiness to embark for India. Colon-1 IL W. Pat Ice, commanding the Chatham division of Royal Marine Light Infantry, has re ceived ordeis for the companies of Royal Marine Artillery under his command to proceed to join their head-quarters at Portsmouth. Yesterday 20 non-commissioned officers, belong ing to the Esct India Company's Sappers and Miner , , who have been undergoing a course of instruction, at Chatham, in sapping and mining, left Brompton tarracks for the purpose of em barking at Gravesend for India. Four screw gun-boats, built by order of the Brazilian Government for coast and river service in 'that country, steamed d ,wn to Greenhithe on Saturday on trial of machinery, and were swung for the adjustment of compasses, &c. They are under orders to sAil to morrow for Plymouth, and, after coaling, they will prcceel tp the Brazils. They will shortly be followed by four others, under construction at Blackwall and Northfleet. The armament of each boat is to c onsist of six guns and a compl-ment of 200 min. Admiral the Mar quis de Lisboa, who is specially charged with the supervision of the order, has taken great pains in their equipment, and has directed that each vessel is to carry two boats, to be fitted with Clifford's lowering gear, as in use in our own service. They are intended to form a flotilla of ten vessels, two of which, it is said, are ordered to be built in France. The steam store-transport Dee arrived at Wool wich on Sunday, and was yesterday hauled into basin to undergo some alterations and additions to the super-heating apparatus on board. She is ordered to ship boiler, , , &c., for the 80-gun screw ship Lion, at Devonport. The freightship Irene yesterday commenced ship ping war stores from Woolwich for Colombo. are surprising remedies 1 , r bad legs and all kinds every [ADVERTISEMENT.] --Holloway's Ointment wounds. The sale of these invaluable medicinefsionf their part of the werld is the most convincing efficacy in curing bad legs, anPilolsf diseases of the skin. Thousands of persona eure d by their use, these dreadful unladie; have been it i s a fact, be and after every other means had failed ' e, however obstinate yond all doubt, that there is no cas e, ell wounds,pesrocoffrosovfiuol;,fraolud I be cured by these wonderful medicines ; therefore dhy all druggists, and at Prc. or long standing, but wa mcdittely try th,eni. I Report ou cures lAnyzarisz. . n from Du ary s interesting inform:am sia), Flatulency, Constipation, Ner. lessor y i. p a p b yß the to quote fll ic t e t d h e a h fl u l 1 1 i o w i i m n : of Indigestion ( y_ Debility, without medicine by Du aDnadsPeEiver Complaints, Cough, Asthma' " Aribica Food : Eight years' dyspep. Revalenta . . Barry's n ss, debility, with cramps, spasms, and nausea, f2.j a,ri b t ' i r c v-usi y ie servant had consulted the advice of many, h i or , e - ---havelfectually removed by Du Barry's Revalenta I shall be happy to v C ° O l n is s ' uni i3 p i t l i j o °nu,s' W. - LAVELL, Ridling answer Norfolk. From the Dowager Countess of Castle tou Rectory, humanity, bh bile, great e s gu t r a r i d e t A-ara.biebacaeFuyoodingiuniraiesv. ef r R s e h v o . rt jo t i im iN e. v v stuart.—Cure 52,612. Rosstrevor, County of Down, Ireland, 9th December, 1854.—The Dowager Countess of Castlestuart feels induced, in the interest of suffering thathort a D f i t i oi:al l Barry's medicines excellent ii t evai failed,eii t a , 0 f A i r i a l b di i g ca es to on od , lin,6om9.y_ nervousness and irritability, of many years' standing. This lucluiric s Thre w e ill years be food deserves the confidence of all sufferers, and may be con sideredn answered. ei.v ou s li a c s s ; realCwui Cure with blessing, pNa ixi o.s cheerfully e neck and left arm, and general debility, which rendered my life very miserable, has been radically removed by Du Barry's Revalenta Arabica Food. ALEXANDER STUART, Archdeacon of Ross, Siabbereen. Supported by testimonials from the following celebrated Pro. lessors of Chemistry: Dr. A. Ure; Dr. Shorland; Dr. Harvey; Dr. Campbell ; Dr. Gattiker ; Dr. Wurzer ; Dr. Ingram ; Lord Stuart de Decies; the Dowager Countess of Castiestuart; Major Gen. Thomas King, and many other respectable per sons, whose health has been restored by it, after all other means of cure ball failed. Suitably packed with full instruo. tions, In canisters, 11b. 2s, 9d.; 21b. 4s. 6d.; 51b. I . ls. ; 121 b. 225. The 121 b canisters are sent cart iagea ti fFee co c , 7 7 , ccipt of Post-office order. Barry Du Barry, d " geabi ns t the fear. . a .ncollor Sir William Page Wood granted an Injunction urn imitating " Ds f u l dangers of spurious imitat ions.--The V 1 ce the 10th March , R e gent-street, London. Impor tant Cautiona 1854, against Alfred Hooper Nevill for Barry's Revalenta Arabica Food. ' other members of the Government, particularly those connected with Ireland, the great importance of watch ing the operation of the *creased duty upon spirits, and of observing whether it leads to illicit distillation or not, because illicit distillation net only will defraud them of their revenue and neutralise the object which they hav e in view, but will be attended with demoralis• lug effects, creating lawless habits in the popula tion, which I am satisfied gentlemen acquainted with the state of some counties in the north and welt of Ireland in former times will bear witness are far greater evils than could be compensated by a small in crease of revenue. (Hear, bear.) However, I am bound to s ay that, as far as my knowledge goes, the late in crease of duty on spirits in Ireland has not hitherto been attended with an increase of illicit distillation, and I trust no such result will follow the proposition of the right hon. g en tl eman. (H ear , h ear .) With r espect to the penny duty upon checks, I am not aware that aay serious objection can be made to it, and I trust not only that the right hon. gentleman will derive 300,0001. from it, but that it may not turn out at the end of the year that his estimate of the revenue by customs and excise is somewhat higher than present circumstances would justly warrant. (Hear, hear.) Mr. FAGAN said he feared that the proposal of the right hon. gentleman in reference to Irish sp i r it s would lead to illicit distillation in Ireland, and it was a fact that illegal distillation was going on there now owing to the increased duty imposed on spirits in 1855. In the city of Cork spirits were sold at sd. a ga llon less than the arti cle could be sold by the distillers, and this was accounted for in two ways, via. , that the lowering of the p rice of the article w as caused either by smuggling or illicit distilla li"• He hoped the right hon. gentleman would not allpose the increased duty on spirits in stock in the Poeseesion of the retail dealer, as it would lead to great in convenience and hardship, but that he would confine the impositicin of the duty to the stock in the hands of the distiller. With respect to the proposed stamp upon cheques he would at present offer no opinion upon the effect of s uc h an arrangement , b ut wou ld s i m ply c ontent himself with the expression of a desire to learn by what means the right hon. gentleman had arrived at the result that he would obtain the sum stated from such a source. , Mr. WHITESIDE mus t o b serve th a t h e h a d n ot learned from any quarterin Ireland that illicit distillation Was now going on there. He had heard a great deal of c onversation in that part of Ireland with which he was connected, and there was a general expression of surprise that no Chancellor of the Exchequer had attempted to aetmilate the duties on spirits in England and Ireland ; and be held in his hand a paper, by which it was shown that if the duty on spirits -in Ireland were raised from Ge. 2d. to as., the increased revanue obtained would be 620,0001., and the authors of the paper went on to show that the effect of this arrangement would be to enable the Chancellor of the Exchequer to reduce the duty on tea; so that as far as these persons were concerned the proposal of the Chancellor of the Exchequer would not be objectionable. Mr. J. WILSON concurred in the observations of the right hon. gentleman who had just addressed the house—namely, that many of the Irish spirit-dealers, so far from being adverse to an increase in the duty, such as was *now proposed, were in favour of it ; indeed, last Year a deputation from Belfast waited upon him and so '=pressed itself. He, however, warned the right bon. gentleman and the committee against two disappoint runts which were not unlikely to attend his calculations. In the first place, the right hon. gentleman the Chan cellor of the Exchequer had taken the excise revenue at 17,80 0,0001., and he ought . , he thought, explain to the ?onanaittee that the apparent increase of 800,0001. in that Item of revenue had been entirely owing to the failure of the tine in France. This had the effect of increasing the stock of spirits in this country, but not the oon amuption, and the stocks being made up to the usual amount, they would only be replenished according to the demand of the year. Now, in his opinion, that in crease would not continue even with the contemplated 468 istance of the additional Lich duty, unless some equally disturbing cause stepped in. With regard to the p roposed peony stamp upon c h eq ues, he believed t hat while such a proceeding would render a very in "nsiderable addition to the revenue it would have the 'fleet of interfering most. materially with the economy of the capital of the country. It had now become a common practice for even small farmers throughout the country to keep banking accounts—a practice which exercised an important influence in economising capital, and such a proposition as that now made by the Chan cellor of the Exchequer would have the effect of re atricting the use of cheque, and thus doing an inj ary to the economy of capital. Stockbrokers were also in the habit of t ransac ti ng th e i r b us i nes s by means of c lues ; and he f e a re d th a t this penny stamp upon che ques A would interfere with them in a very serious degree. with support of this cordial nature from these quarters, Mr. Disraeli will not experience much diffionl'yin passing the same through Parliament. This is, probably, the first budget on record that ob. taised on its introduction what might be termed unquali fied approbation. The objections of more determined op. ei ri2 ponents of the Conservative Ministry of course go for n 0..., , rfj thing, as these politicians would censure any proposal emanating from this source. The testimony in its favour of members belonging to the more independent sections of the House of Commons may be regarded as decisive ; and ' Mr. Disraeli deserves credit for having extricated the country from a position of considerable difficulty. The , now taxes that are to be imposed are by no means burden some, and the reduction of the income tax is to be carried out. In fact, good faith is to be kept with the public. This is a great triumph, and the Budget will be as popular in the country as it is in the House of Commons. Most n a sincerely do we congratulate the member for Buckingham. ja shire on his success and there cannot be the least doubt i t ,- 0 ; t that the public willfully appreciate the honesty as well as , ,„„ the remarkable sagacity of the honourable gentleman's proposals. ) , a of the )st im nences hopod lion on easure to the )ed the riday. which ttee he :urrent e some ir. His :to, ap bserva- )on the llow to uestion averted he ope t there of last hequer ken out e consi- I of last mmittee venue of beyond the re ature of re were ionnt of Dille have ids, they be a re- Lug fund re was a Par: a nent of !, which nasmuch revenues Teat afore the 1 cf this' n the na ttee will e conclu ptive in is I have ar out of übmitted We paid, , 40,000/. ipplemen all these upon the were die tie txcep if the pre t it a per tlances to alanee: in - vbich was s `ear the 357,000/., said with large sum le revenue vere unex submitted necessary Lucrease of ie facts are , I think, - fallacious ,on of debt . any length tits for the em by the state that 6n in thiolv ween a de• iture, and 'met yeal. ,setvation! ,000/ until .;;;- ) be nue than o Teo ellor es of