The Press.
London, England, 1854-04-08 00:00:00

t-_,,.,

314

sleepless nights of which he complains to the
House of Lords.

We are enabled to state, without fear of con-
tradiction, that the expressions disparaging to
this journal attributed to the Earl of MALMEB-
- in a speech delivered by him in the
House of Lords, in reply to the speech of
Lord ABERDEEN above referred to, were
used simply as quotations from the preceding
speech of Lord ABERDEEN, with the inten-
tion of showing that Lord ABERDEEN was not
justified in employing the time of the House
of Lords, on an occasion of great national
importance, in replying at length to an attack
in a newspaper, which attack he affected, at
the same time, to treat with contempt.
We state this because certain organs of the
Ministry have condescended to avail them-
selves of a report of the debate which was
evidently and accountably imperfect, in con-
sequence of the simultaneous pressure upon
the reporting staff of both Houses of Par-
liament.

THE FINANCIAL YEAR
APRIL 5, 1854.

ENDING

MR. GLADSTONE, as a Financial Minister, might
receive our pity, if his pride and arrogance
did not deserve a fall.

We have had other failures among our
`inance Ministers. ROBINSON was a failure.
Sir FRANCIS BARING was overwhelmed by his
difficulties. Sir CHARLES Woon blundered on
for several years, making, and withdrawing,
and altering his Budgets till they suited the
taste of the House of Commons. Mr. DISRAELI
I,proposed a Budget admitted now, even by
those who opposed it, to have been founded
•on sound principles of finance and policy.
Perhaps he was too inflexible, but, having pro-
posed his financial measure, he acted upon
the resolution of standing or falling with it.
'His successor, MR. GLADSTONE, entered upon
office with singular advantages. The mantle
Hof Sir ROBERT PEEL was supposed to have
fallen upon him. He had acquired large ex-
i'perience in the details of office. Mr.
Groraseres, the most successful and most
experienced of living financiers, sat behind
!.him to assist him. With nine millions in the
Exchequer, and an ample revenue, Mr.
GLADSTONE, at least, could not make a mistake !
Such were the impressions this time last year.
What are they now ? Why, that his whole
1, career as Chancellor of the Exchequer has
been one of disastrous failure. His great plan
for the establishment of a new stock, he has
been forced to acknowledge, has proved
abortive. " Mr. GLADSTONE at a discount"
has become a byword in the City. With a
knowledge of impending war, he deluded the
country last year by proposing a Peace Budget,
remitting taxation and lessening the resources
of the country, for the sake of a temporary
popularity : under false pretences he obtained
the sanction of the Legislature to a renewal
of the property tax. This year it became
necessary for him to double that property tax,
and we think we shall be able to show from
the accounts just published that on this oc-
casion likewise he has done so under false
pretences.
On March the 6th he proposed his Budget for
the year 1854-5. Our readers will recollect that
he founded his scheme upon his estimate of the
produce of the revenue as it would turn out
on the sth of April. His words were these :
" The first and most satisfactory part of my
" task is to exhibit, in comparison with the
" estimate I made last April, the present actual
" state of the income and expenditure of the
" Country." And, iu reply to a question put to
he stated that it was
months accounts and one
bringing the account,
) sth of April. Resting
carried on his estimate to
in fact, tile Budget for
of by the accuracy of
statement and estimate for

in mind, we ask our
us while we compare his

him by 'Mr. DISRAELI,
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