The Press.
London, England, 1857-02-14 00:00:00

THE PERSIAN WAR.

The Paris correspondent of yesterday's Morning
Post (second edition), in his letter dated Thurs•
day, writes :

I have reason to believe that Russia will not continue in
advising Persia to resist the demands of England. It is
quite possible that despatches will shortly reach the Per-
sian envoy in Parts of a conciliatory character. France
desires peace, and Russia wishes to be on good terms with
this co3ntry, for reasong easily imagined.

The Nord of Brussels affirms that Russia has not
abandoned ber views in favour of the union of the
Principalities; and that the assertions of the Eng-
lish press on that point are without foundation.
Ittuoiia, it gays, maintains, and will persist in main-
taining, the opinion on the subject pronounced by
her representatives in the Congress of Paris.

Intelligence from Naples, February 11, states that
theorisation of a free port, and the complete revision
of the Customs Laws, have been decided in Council
by King Ferdinand.

The Madrid Gazette, February 2, announces the
discovery of a depot of arms and ammunition in the
Theatre des Varieties. The director of the theatre
has been arrested. The reactionary party have
triumphed in the provincial elections, by the inter-
ference of the Governmental authorities. The ru-
mound dismissal of General Concha from the Go-
vernorship of Cubs is contradicted. Marshal
Espartero has rent to the Queen his resignation as
member of the Senate.

LAST NIGHT'S DEBATE.
HOUSE OF LORDS.-FRIDAT.
CHINA.
The Earl of DERBY gave notice that as soon as the
papers relating to the operations in China were laid
on the table he should bring forward a definite
motion on the subject.
The other business was of no public interest.
Adjourned at seven o'clock.

HOUSE OF CONINIONS.—FRIDAY.
PERSIA.
On the motion for going into committee of
suPPIYI

Mr. LATARD adverted to the anomalous circum-
stances under which war had been declared with
Pet sia. He intimated his intention of challenging a
formal debate on the subject on some early day.
Lord PALMERSTCN stated that negotiations had
begun, and were still pending, of which the Persian
ambassador in Paris was the intermediary. Any
debate at the present juncture would, he submitted,
tend to interrupt the hitherto favourable progress of
diplomatic efforts to bring about a pacific solution of
the present controversy.

Mr. Rosacci remarked that while negotiations
were pending, they were warned against inter-
meddling; and after the event, their interference was
too late.

THE PRESS.

Lord JOHN RUSSELL agreed that the discussion
would at the present moment be premature, but
looked forward to some early termination, one way
or another, of the pending negotiations, and when,
he observed, there would be no plea for further for-
bearance.

Mr. GLADSTONE concurred in this view, observing
that the Ministers had undertaken the war on their
own responsibility, and would be required to justify
their conduct in the face or the Legislature.
Mn. DISRAELI held that the Government were
bound to show that the alleged negotiations had been
seriously ent2rtained, and were likely to result in a
favourable and pacific issue.

THE BUDGET.

The house having gone into committee of supply,

The CHANCELLOR 0f the EXCHEQUER rose to make
his financial statement. He reminded hon. members
that this was the first day on which he could have
laid his statement before the house. Last year he
estimated the revenue of the country, for the year
ending April next, at 71,740,0001. The whole receipts
had not yet come in, but he anticipated now that it
would be a little more—that, in fact, it',would amount
to 71,885,00(1/. The expenditure for the year he
estimated at 82,113,000/., leaving a deficiency of about
10,500,0001. To meet that deficiency, he had bor-
rowed, and had power to borrow, about 11,000,0001.,
which power lie had exercised to the amount of
about 8,000,000/. The total revenue of the year, by
revenue and loan, amounted to 79,384,000/. The
actual expenditure did not quite come up to
78,000,0001., so that there was a balance in the
Exchequer of 1,384,0001. He then enumerated
the extraordinary expenses of the year, which he
contended could not be considered as a year of
peace, and he reminded the house, also, that in the
course of the year the war tax on malt had been
remitted. To show that the war had not diminished
the industrial resources of the country, he stated
that the value of our exports for last year had in-
creased beyond all preceding years; that they. were
20,000,0001. over 1855, and 17,000,0001. over 1853;
that they had doubled since a year so recent as
1849, and that they had tripled since the first year
of the former peace in 1810. The imports had in-
creased in the same proportion, of which he might
only mention that the imports of raw cotton
amounted to 747,000,000/., while in 1850 it
increased to nearly 879,000,0001. British shipping
bad greatly increased, arid the demand for labour
had not diminished. He proceeded next to explain
to the house his estimate of the cost of the
war. Taking the expenditure of the three last
years of peace, and comparing them with the three
years of war, he found that the aggregate ex
penditure of the first was 154,000,0001., while the
cost of the last was 220,000,0001. The total difference
was 76,398,0001., which he set down as the total
charge of the war. The estimated expenditure for
the ensuing year was 65,474,0001. This included a
sum of 5,000,0001. for the collection of the re-
venue, and the repayment of debts to the
extent of 2,250,0001. He referred to the army
and navy estimates, pointed out the extent of the
reductions, defended the Government from the charge
that they bad not reduced them still further, and re-
minded the house thatithey could not return to apeace
establishment by magic. The civil service had
increased about half a million over that of last year,
chiefly arising from the abolition of fees in county
courts and their payment from the Treasury ; from
the payments to the county constabulary ; from the
increase in the education vote ; from the new Go-
-1 vernment offices, .to. In connection with this sub.
ject of increase of expense, be said he could confirm
to the letter Mr. Gladstone's antithetical observa-
tion on the first night of the session, that the
country was impatient of taxation, but careless of
expenditure. There was no real danger to the Ex-
chequer in the present day from personal jobbing
or corruption ; the real danger lay in the public
spirit and philanthropy of parties anxious to realise
their schemes for the good of the country. Appli-
cations had been made to him for money to realise
projects, which a revenue of 120,000,0001. would
not supply. He then referred to the million
required for the Metropolitan ;Board, for parks,
museums, and other expenses, which would of
themselves have exhausted the country's revenue.
Sir G. C. Lewis afterwards adverted to the additional
debt which the war had thrown on the country.
The addition to the funded dent was 30,000,000/.
The Exchequer Bonds were 7,000,0001. ; the Ex-
chequer . Bills were 15,000,0001.; making an ad-
ditional annual charge upon the country to
the extent of 1,460,0001. This should be borne in
mind when it was proposed to return now to the
settlement of 1853 with respect to the income tax.
And that was not all ; for there were, besides, pay.
ments to be made in the nature of a sinking fund to
the amount of between two and three millions a
year. Then, also, there hal been a reduction of
several taxes since 1853 ; so that while the expenses
had increased, the sources of supply had diminished.
The loss arising from the remission of taxation

SATURDAY,

since 1853 amounted to 740,0001. He thought,
therefore, the house could not consider itself tied
down to the arrangement of 1853, under all these
changes of circumstances. Sir G. C. Lewis thou said
he intended to deal only with the taxes imposed on
account of the war. Of these a permanent increase
in the excise on spirits produced 1,500,0001. annually,
and would be left untouched. There remained the
income tax. As at present appointed, the tax would
remain at 16d. until April, 1858, dropping then to
51 for two years longer, and ceasing altogether in
1800. He proposed to continue the income tax at
Td. for three years. Incomes of 150/. and over woul
then be subject to the same tariff originally levied
by Sir R. Peel ; and upon those of less amount he
intended to impose a rate of sd. After this
surrender of income, which be estimated at
9,000,000/., he could not afford to concede the whole
amount of intended reductions in the duties on tea
and sugar, for which he proposed a new scale of
descent by smaller gradations and at longer intervals
than had been arranged when the schedule was
revised. The total revenue for the year 1857 8 would
then remain as follows .—From Customs, 22,350,0001.;
Excise, 17,000,0001.; Stamp., 7,450,0001.; land and
assessed tax, 3,150,0001.; income and property tax,
11,450,0001.; Post-office, 3,000,0001.; Crown lands,
365,0001.; miscellaneous, 1,600,0001. The gross
receipts would thus amount to 60,365,0001.; which,
as set against an estimated expenditure of
05,474,000/., would leave a surplus of 801,0001. The
whole amount of taxation now to be remitted was
11,571,0001., from which, however, the Exchequer
would only sustain a loss of about 7,500,000/.
during the ensuing year. The right bon. baronet
concluded by moving a formal resolution granting
2,000,0001. to her Majesty to redeem the that series
of Exchequer Bonds.
Cursory remarks upon various details contained in
the Finance Mmister's speech were made by Mr.
GLADSTONE and a large number of members.
The CHANCELLOR of the EXCHEQUER replied.
The house resumed, and the Chairman on re-
porting progress obtained leave to sit again on Mon-
day.