The Express.
London, England, 1866-05-04 00:00:00

THE EXPRESS, FRIDAY

Coital charges, making all allowances, would
be about 409,0001. per annum. Again, it was pro-
posed that so much of the dividends of the fund
which it was intended to create as were found to
be to spare, should be re-invested ; and the result
would -be that in 1865 the charge would be
1,440,0001., while there would have been cancelled
no loss than 50 millions of stock—while from year
to year the state would be buyers of stock. He
then stated that the surplus being dealt with in
making the reductions which he had stated,
amounted to 1,064,0001., there would be left a sum
in hand of 246,0001. He should take the resolu-
tions reducing duties and those relating to the con-
version of debt on Monday. With an apology for
having so long detained the house, he concluded,
having spoken for nearly three hours and a half.
Some discussion of a questionary character fol-
lowed.
Some formal resolutions were passed, and the
house resumed.
The Exchequer and Audit Departments Bill was
considered.
The Crown Lands Bill passed through committee,
as did the Convicts Projerty Bill.
The Land Drainage Supplemental Bill was read
a second time.
The Grand Juries Presentment (Ireland) Bill
passed through committee.
Mr. AYN.TON moved for a new writ for the
borough of Nottingham, to supply members in the
places of Sir R. Clifton and Mr. Morley.
Mr. R. Mims said the occurrences at the recent
election at Nottingham were such, the town having
been in the possession of a mob, that the house
ought not to issue the writ without considering
these circumstances.
Sir H. VERNZY moved that the evidence before
the committee be printed before the writ issued.
Captain VIVIAN, on the part of the committee,
stated that in their opinion, though there was a
disturbance in Nottingham during the election,
there was no absolute riot. The committee were
also of opinion that the writ ought nut to be sus-
pended.
The amendment was negatived, and the writ
ordered to issue.
New writs were also ordered to issue for Windsor,
in the room of Sir H. Hoare and Mr. Labouchere,
and for Northallerton in the room of Mr. Mills.
The other business was disposed of ; and
The house adjourned.

Mg. GLADSTONE congratulated the House last
evening on approaching a subject which he hoped
and believed would involve no subject of centre-

versy. It would be difficult to pay the CHANCEL-
LOR of the EXCHEQUER a higher compliment than
he paid himself in this unaffected anticipation of
the unanimous assent of all parties to his past and
future measures and operations as Finance
Minister. The House and the country are too
well accustomed to such intellectual exercises to
admire as it deserves the perfect ease and calm-
ness with which this prodigious Minister can turn,
almost parenthetically, from the stress and storm
of a fierce party conflict to concentrate all the
energy and acuteness of his mind upon a
clear and full exposition of the national debtor
and creditor account. Yet in a commercial age and
a commercial country it is not the versatility of a
statesman's mind that commands the widest recogni-
tion and respect, but its concentration upon practical
objects ; and nothing captivates the imagination of
a mercantile community half so much as this
mastery of figures, and this victorious application
of the soundest principles of economy, by the chief
of the most important department of the wealthiest
State in the world. No party speech or party
measure, however eloquent or enlightened, no close
division, could embarrass the successors of the
present Ministry like the remembrance of Mr.
GLADSTONE'S financial administration and the
legacy of his latest Budget.
The Budget for this year is comparatively mo-
dest and unpretending in its scope ; and in sug-
gesting this comparison with some former years,
with a modesty that disarmed expectation, the
CHANCELLOR of the EXCHEQUER displayed the
happiest artifice of an orator who stands on
an eminence of recorded services. For three

years past it has been his duty to dispose of a
surplus of from three millions to three millions
and a half. This year the surplus is but a
nett amount of 1,350,0001. The actual
expenditure of the last financial year was
a trifle less than the estimate ; and the
total amount was a decrease of 2,900,0001. com-
pared with the year 1859-60, but an increase of
2,200,0001. compared with 1858-59. That is to
say, the annual cost of the military and naval ser-
vices is again slightly on the decline from that in-
crease which began in 1859-60. Fortifications
have had something to do with arresting this slow
and gradual decline, which, so far as it goes, is a
satisfactory symptom, but can hardly be said to go
as far as might be reasonably desired. More re-
assuring is the comparison of the estimated with
the actual revenue of the past year, showing a
surplus of 1,420,0001., and a surplus, moreover,
through all the principal branches of revenue
—Customs, Excise, Stamps, and Income-tax.
The value of a penny of Income-tax has
risen from between 700,000/. and 800,0001.
to nearly double that amount, while the
estimated loss on the reduction of last year is
smaller than was expected. The result of the
reduction of the Fire Insurance Duty, on the other

hand, appears to have justified, in some degree,
Mr. GLADsTONE'S apprehensions; and, after care-
ful calculation, he warns the House against expect-
ing any further reduction of this duty to afford an
increased revenue. He, therefore, adopts the
principle of Mr. HrEBARD'S resolution, which
affirms the duty to be a burden on property,
and its remission a relief to property, for which,
if necessary, some equivalent must be found.
Whether Mr. SHERIDAN will accept this quietus
we know not ; but we fancy some of his usual
supporters will. The Stamp duties are paying
handsomely, and the Post-office is distinguishing
itself as usual by rapidly repaying increased
outlay. So that, in spite of last year's reduc-
tions having anticipated no less than 1,417,0001.
of this year's surplus, we have still 1,350,0001.
to dispose of. There is an obvious advantage
in a surplus of this kind ; it is not enough to
stimulate the sturdier mendicants for relief, yet
sufficient to deal with the smaller claimants,
who are apt to be lost sight of, because they
don't cry out. The edge of novelty had been
blunted this year by the announcement some time
since, that, in pursuance of the treaty with Aus-
tria, the small remaining Timber duty was to be
abolished, and that, in deference to the reasonable
appeal of the Burgundy wine growers, the duty on
wine in bottles WM to be aaaimilated to the duty
on wines in the wood. By the abolition of the
Timber duty a sum of 307,0001. will be sacrificed,
and by the assimilation of the Wine duties a nett
sum of 58,0001. From timber and wine Mr.
GLADSTONE pongee to pepper, somewhat to the
surprise and amusement of the House, which had
not noticed the fact, now brought to their atten-
tion, that pepper was a superfluity which, in the
meagre diet of the poor, was almost a neces-
sary of life, and especially so in Ireland.
Mr. GrAnfrroxis stated the case of pepper with
characteristic carefulness and nicety, and made
t. it the text for some strong remarks on adul-
t teration (to which pepper is especially subject)
as " peculiarly an .English vice." The 100
upon pepper will amount to 112,0001. From