The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1866-10-06 00:00:00

THE QUARTER'S REVENUE-OUR
NATIONAL PROSPERITY.

, After the financial misfortunes of the present year
the country may be congratulated that it still pays
Its way proeperritudy. Speculators may fail, vast
mercantile associations may disappear like the bubbles
to which they are often compared, the pride of this or
that family may be brought low, but there is in the
steady industry of the nation a source of wealth
which no waste can dry nr. With all our commercial
troubles the people have beenovell employed during
the last six months, and the rate of wages has main-
tained that continuous rise which enables the masses
to live well, to spend largely, and thus to give to the
Treaeury a buoyant Revenue. It is enough to say
that the Returns for the period which ended on
Saturday exhibit a material increase. But the result
shows that there was no reason to be anxious. The
, Revenue still increases, and at a rate which seems to
show that in a year or two still further advances may
be made in relieving the public burdens. Though by
the last two Bu.igeta so great an amount of taxation
has been taken off, and though our expenditure is
still excessive in the matter of military and naval
armaments, there Is now little doubt that in Ift67 the
Chancellor of the Exchequer of that period will be

sole to fonsgo a further of hie demands en
the public purse.
The best proofs of the electivity of the national n-
em:noes are justly supposed lc be given by the
Customs, the EXCION and the Income Tax. These
three divisions of the Revenue are in an eminently
satisfactory state. The Quartet just ended given an
increase of 252,0001. as compared with the nonce-
Pending Quarter of last year; and the Half-year,
timilarly compered, Fives an Morena of 345,0001. The
product of the Krone during the mine P.riodg ha.
increased 188,000 i. on the Quarter, and 467,000 i on •
the lialf-year. In spited great and almost moment
reductions year after year, this country raised, during
the past twelve moat* 21,621,0001. by Oustoms, and
2f1,M5,000/. by the Fades. Throe stupendous amounts
are made up without imposing any intolerable burden.
on individuals, and nowhere, with the exception of
the flourishing American people, are forty millions
sterling so lightly and cheerfully paid. The reason Is
that these gnat some of money an raised on a oon-
sumption so immense that they nerviest a compara-
tively unimportant addition to pinata expenditure.
It is only in the matter of &Minds° drinks that
indirect taxation really affects a man'. inoome
seriously, and the (common seine of the country has
determined that on such articles he may well pay.
The buoyancy of the Excise, though a matter on
which the philanthropist may not fed inclined to con-
gratulate his fellows. is, at any rate, AD excellent
proof of the gel—, ,iosprrity, and it may, perhaps,
become an important question whether in this branch
,f Revenue also the amount reoeived may not be
increased by a diminution of the rate of taxation.

mpodion

Under the Head of Stamm there ia • decreems
197,000/. on the Quarter, and 201,0004 on the Haltyme,
v ii.ed of course by the reduction of the Fire Inemstigglie
Duty.
oe Post-office still showsita wooderfal vigour ;
is the advance of the country in intelligence and the
desire for communication that the increase on the
late Ralf-year as compared with the corresponding
I...rind of last year is 115,0001., and that as the Year
150001.
The last item to be examined ie the Income Tax,
and this also shows a greater proportional yield than
ever. Ten years ago it was estimated that a penny
of the tax was equal to a million sterling; het
year Mr. Gladstone estimated it at 1,300,0001., but WO
find from the Returns of the past Year theta fourpenny
Income Tax produced no less than 5,596,0004 ; In other
words, that the produce of the penny has risen to
nearly 1,400,0004 This is truly a striking proof of the
advance of the national wealth during the period we
have mentioned- though something is, no doubt, due
to the greater liberality and hilsksaty of individuals
when they are subjected to only a moderate impost.
We may fairly congratulate the public on the present
state of the National achequer, and though the bad
harvest may cause some transient uneasiness, it is
evident that there is nothing unsound in our industrial
and commercial system, and that our national reaottreee
still retain their old elasticity.