The Press.
London, England, 1854-12-09 00:00:00

THE PRESS.

But he advanced two propositions which
certainly it required all his boldness, and all
his casuistry, to establish. The first was, that
her Majesty's Government had thought it wise
to take so early a period for submitting their
measures to Parliament, " because they
" thought it well that foreign countries should
" see that the earnestness of the nation in the
" cause in which it was embarked may be mea-

" sured by the promptitude with which it
" supplies the means necessary for following
" out that course." And his second proposi-
tion, which he laid down as a principle, was
this, " that the expenses of the war should be
paid for out of the annual income." •Upon this
point he was very precise in his language, as
well as very eloquent and emphatic. He said
he was convinced the committee was not pre-
pared to make any increase to the debt. " I
" trust," he added, " that they will not be at
" any time prepared to take a course so fatal
"to the interests of the country." And then,
after quoting MILLS and M'Cci.Locit, and
arguing the question on political and econo-
mical grounds, he proceeded to state :
I do not, however, hesitate to say that strong as appears
to me the economical reasons for adopting the policy I
recommend, the moral reasons are equally powerful : the
expenses of a war are the moral checks which it has
pleased the Almighty to impose upon the ambition and
lust of conquest which is inherent in so many nations.
The necessity of meeting from year to year the expendi-
ture it entails, is a salutary restraint and wholesome
check, making them feel what they are about.
How the Emperor of RUSSIA must have
smiled at these propositions ! When this
energetic evidence of promptitude and earnest-
ness, worthy of a great country like England,
was explained to the Czar, he was told that
it amounted to the augmentation of the income
and property tax by one-half, and that for one
half year only, accompanied by the moderate
issue of 1,750,0001. of Exchequer Bills, and
that only in advance of revenue. When he was
told that the CHANCELLOR of the EXCHEQUER
had declared, amidst the cheers of the House
of Commons, " This, sir, looks like an inten-
" tion of carrying on the war with vigour ;"
and when it was further explained to him
that Mr. GLADSTONE had declared be was not
prepared to sanction any increase to the
National Debt, " that he considered such a
" course fatal to the interests of England,"
why, we can only say we think the Czar must
have reflected with satisfaction on the sagacity
and adroitness displayed by " his friend who
" knew him so well, and had such full con-
" fidence in him," in choosing such a Finance
Minister as Mr. GLADSTONE.
The second financial statement, that of
April 11th, was an explanatory one on the
part of the CHANCELLOR of the EXCHEQUER, and
was distinguished principally by the observa-
tion of Mr. THOMAS BARING, that Deficiency Bills
formed the key-stone of the policy of Mr.
GLADSTONE, and by his prediction that Mr.
GLADSTONE would be obliged to resort to a
loan, probably at the least favourable moment.
The third financial statement, that of May
Bth, contains eight columns in the Times of
preliminary matter, in defence and laudation
by Mr. GLADSTONE of himself. He then pro-
posed the following additional estimates,
viz.:—
Army . . . . £300,000
Navy . 4,550,000
Ordnance . . . 1350,000
Militia . . . . 500,000
Extraordinary . . 850,000
"-^ 'MA

And his ways and means were :
Additional income tax £3,250,000
Additional duty on spirits 450,000
Readjustment of sugar
duties . . . . 700,000