The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1872-01-06 00:00:00

Elie teuqribge 00ertier.

SATURDAY, JANUARY 6, 1872.

OUR NATIONAL BALANCE SHEET.

Than must have been in this commercial
coantry of ours an immense deal of stock-taking
lately. Merchants, bankers, manufacturers, and
tradesmen have been busily engaged in reckon-
ing up the incomings and outgoings of the past
year, estimating their stock in hand, and thus
endeavouring to ascertain their position at the
commencement of a new year. Could the result
of all these individual stock-takings be reduced
to statistics, we doubt not that the result would,
a. a whole, prove eminently satisfactory. But
in default of an impossibility, we can form a
pretty good estimate of the commerce and trade
of the country by our national balance-sheet just
issued in the familiar form of the Revenue Re-
turns. These are of a most cheering character.
On the quarter ending December 31, there is a
net increase of revenue of £924,915, as compared
with the corresponding quarter of 1870; the
nine months ending with the same date, there
is a net increase of no less than .E 2,267,891 ;
and on the year 1871 there is a net increase of
, as compared with the preceding year,
of £940.158.

Chancellors of the Exchequer are fallible, like
other people, and all their calculations are likely
to be upset by what the dethroned Emperor
Napoleon called "the inexorable logic of facts."
An apt illustration of this is to be found in these
revenue returns taken in connection with Mr.
Lowe's estimstes on introducing his last budget.
His forecast and the actual fact differ by about
two millions sterling, and the difference repro-
Rents just so much more money than the Chan- ,
cellor of the Exchequer told us be required. '
This excess amount is, moreover, so much more
taxation than we need have been subjected to. '
could the (jcisernmen have foreseen how produc-
tive would be our various sources of revenue.
The natural corollary from this is, that we have
a right to expect some decrease of taxation next
spring, if wit a diminution corresponding to out
surplus revenue. It seems generally to be hoped
that Mr. Lowe, when he next brings forward a
Budget, will propose a reduction in the incniu,
tax. Last year he placed an additional Miniei.
on us in the shape of an extra Viopence on
tax, and it would not be verbal.. too tune). t
expect that the next Budget will undo wi,
turns out to base been au unneeeb, iry l•
tion. • o remission, we believt, win la be in :re
popniar than this. There e been complaiuts
for o long time pest .4 marina).* of tha
tax, both as V. its incident!i and its o,,,Alnieht
said of tl.e fact, undoubted fact it is, that %yid:
or ,y people this tax falls with unfair weigh!,
..sny ~.ner people either imfairly eteane from it
sitoiretner or suceeed in paving ',ply a eausider-
sely loss sum than they ~t4.:bt to contribute to
the national revenue. l!hr ~nancellor of the
Ezeheqaer (mild hit Any plan of remedyinp
Men inequa..! ins and anomalies he would be
doing his couutry good service: and if at the
seine time he could also reduce the income tax
geuerally, he would earn the gratitude of the
nation. But if he cannot combine the two, the
least we have a right to expect, unless some seri-
ous unforeseen contingency occur before Mr.
Lowe presents his financial statement, is that he
will lower a tax which Chancellors of the Ex•
chequer are ever ready to raise whenever oec:,
skill demands it, and sometimes, as we has
seen, when the occasion does nut demand it.

W.bile we are rejoicing over the anti-cip-at,
surplus which our Minister of Finance will hay.
at his disposal, and asking, " what will he •
with it?" we have the satisfaction of knowin
that these Revenue Returns, whatever the futur.
may bring forth, establish the tact of nation:,
prosperity during the past year, and indicate s
sound financial position at the present Lino .
And many other facts combine to offer us silo:
lar assurances. Our commerce has extended so
is extending; our home trade is active;
working classes are very generally employe. .
and this under improved conditions as compart
with tho year 1870; money is abundant, and th
price of meat, which not very long ago.wmisabc
ming and is still high, has been kept down I.
etiormoua imports from Australia ; while the is
lotions of employer anti employed are more sit:
isfactory—eertainly to the latter—than we has.
for years beet' accustomed to. The nation i
undoubtedly prosperens, and what it row hi
most to gmird against ore extravagant expene i
tore and reckless speculation.

glrinlllo RIMS% %OR C•tit'otint.
.1,,,,,ent guys: Re • new proems t, high the nibetr
sei.jected, the pr.nripe, ri of the oI t* etf-etneliy t•
moved ; • thin he., t• . . ' I C.,. afters.,
• ' • • se •-, he • west att.
.e • n. tot te abelled, JAN, •
• li ncethie L taloa." Al.
oorpett Milky Caca,oine (thula'oine end Co.
•Pi Mll4l.

. •• . a ks. COUlitlll, COLDS, PAINS IN TFIg CHIP
SH•leirssaa V fitgiiii. PNLKOM -- Iwo of Da. 1. ,•
;OCR'S WAFr.lti give immediate relief, and nothii 4
else gives such a s.mnr/, refreshing night's rest. n
Rheumatic and Nero. us they at like a charm,
Singers they are invaluable for clearing and strength, .•
trig 'herniae. They don't haute like medicine. Sold by
all medicine vendors at la led out gs 11,1 p. r hog
Cannon —Every box of the genuine medicine has t'.e
words' Dr. Lucock•‘ Wafers" in white letters on a r.
ground in the Government Stamp onside, w About whi
words, all are counterfeits.

1r
Butistuti.o STARAII, 'toy ate renpetn ,y •,,wert•,l
give a • idol I.eff C weal y follow out iNe duct tu
Si. CPS!) packstikt, and if thin ,N v
' sn's Laandresa, it is the finest St, ,
When you ask for Lit-ENFIELD STA,
" SO inferior kinds are often aubstitu. tt
profit. Beware therefore of apt

th ever lama'.
see that you get
for the sake of e
toga imitations.

extra

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