The Express.
London, England, 1861-06-06 00:00:00

LONDON, THURSDAY, JUNE G.

DEATH Las fallen suddenly upon the most sue-
wain' statesman of our time. Count CAVOUR Las
ceased to be. After a brief illnesn, brought on,
as is supposed, by uninterrnitted devotion
to public business, and the want of that relaxation
and repose which the wont energetic and self-reliant
natures most require, the man who has guided the
councils of Vieroa EMMANUEL for the last seven
years, and who in that interval has contributed
pre-eminently to the wondrous change that has
taken place in the fortunes of his master
and of his country, has passed for ever from
Lis dreams ..f fame and freedom. Throughout
all Europe the tidings that we grieve thin
day to publish will startle men amid their
everyday occupations ; and each will ask his neigh-
bour with an incredulity that is born of instinctive
faith in the immortality of conspicuous worth
—can it he true 1 Humanity is not willing to realise
a great and unexpected loss; for it is conscious
bow limited at beat is its stock of the masterly
foresight and self-helping ability whereunto it
turns in the frequent Lours of emergency and peril;
and when the life of one of the few men of genius
and practical wisdom that we Lave had amongst us
is threatened by the inscrutable hand of disease,
we but obey the law of natural loyalty which
is in our nature, when we hope against
hope, and refuse to believe in the calamity
said to be impending. Yesterday the public
mind would not accept the notion that the vital
spark was dickering in the fevered breast
of the great Minister ; and to-day it
but imperfectly realises the fact of his loss.
Stilled murmurs of rejoicing there will be in
•very ante-chamber of despotism, for a great
hindrance in the way of reaction is removed.
Audible expressions of deep concern and heartfelt
sympathy will break forth from every cabinet and
chamber where the cause of constitutionalism is

faithfully served ; for a truly great auxiliary
is lost to that cause for ever. But who shall an.
ticipate the mingled sentiments of grief and anxiety
and pain which will pervade the communities
which CAVOUD has contributed so much to
make into a nation ? The account we pub-
lish elsewhere of the spontaneous proofs
of feeling manifested by the people of Turin dur-
ing the latter hours of his illness, reminds to
of what occurred upon the memorable day
when Mr. CANNING, in somewhat similar circum-
stance., was believed to be dying, but still more of
what took place in Paris before the death
of MID.ADCAr. The silent multitude, agi-
tated by contending emotions, thronged
the approaches to the mansion where the faint-
ing statesman lay in his last agony ; not a sound
being suffered to disturb the sultry air that could
by possibility disturb Lis brief and troubled sleep.
The sight of the emblems of the last rites
ordained by the Catholic Church as they were
borne through the crowd, seems to have wrought
up their feeling' to a paroxysm of distress, of which
we can form perhaps but little idea. The Italian'
heart is warm as ia its clime ; and just now
it is full to running over with noble and
generous thoughts towards the men who
have wrought out national deliverance. Dif-
ferences of opinion, sharp and earnest,
there have been, indeed, as to the degree of
merit possessed by the departed Minister,
and the comparative debt of gratitude
due to him, but all differences are gone
and forgotten now. The inexorable peace-
maker has laid his weighty wand upon
the lips of civil controversy, and all
Italy as ono man sits by the un-
closed grave of the gifted, generous, and
energetic patriot whose sun Las gone down while
it was yet day.

Tea Financial Statement made in the Legis-
lative Council at Calcutta on the 27th of April,
by Mr. Lsix“, in one respect supports the esta-
blished character of an India' Budget. It over-
throws and confounds the pleasant anticipations
expressed in the House of Commons by the Sums-
?MlT of STATE for INDIA. The fact iii.too impor-
tant, as showing how speculative is the field we
enter when wo discuss Indian finance, not to be
taken as a preliminary caution.
The deficit on the Budget of 1860-61 is now
found to amount to 5,500,0001. The gran de-
ficit is 6,678,0001. ; but as of this 700,000 f.
arise from payments of an exceptional nature,
and 500,000/. have been derived from improved
revenue, the deficit needing to be considered
and dealt with is the smaller amount first
mentioned. Mr. LAISO, observing that Sir CHARLES
Wool. hail made a much more favourable state-
ment in the House of Commons, said that that
statement was made in perfect good faith by the
Steamier of STATE. for INDIA, on information
which be had a perfect right to rely on, but " tin-
" fortunately that information mistook wishes
.4 for facts, and anticipations for realities"—a most
extraordinary admission for the Indian CBJUWELL-
ws us Fiscitsovin to make at Calcutta, but

too well justified. As late as February last we
find Sir CHARM Wu,, stating in Parliament that
the reductions in the expenditure of the year had
been 3,300,0001. He was so far misled that, as
Mr. LAnce now informs us, not only was there no
reduction at all, but a positive increase of
213,0001. in the total expenditure of the year.
Various sums of account, says Mr. LAING,
by which Sir CHARLES WOOD was misled, amount
to upwards of 5,000,0001., and just make up the
difference between the equilibrium announced in
England and the deficit of 5,500,000/., which is
the real result of last year's Budget, after credit-
ing it with a full year's proceeds of all the new
taxes. Of course this is a most unsatisfactory
result, not only for its owu sake, but for the un-
certainty into which it casts all the calculations of
the future. Let us look a little more in detail at
the causes of this financial miscarriage. Mr.
WU.silN, in framing the Budget of 1860-61, fore-
saw a deficit of 6,500,0001., which he endeavoured
to meet partly by the new taxes—the income tax,
and the augmented duties on imports, salt, and
stamps--partly by reductions of expenditure, and,
lastly, by drawing on the cash balances, which,
owing to the success of recent loans, were unusually
large. The new taxes have not as yet answered
tho expectations formed of them, the reductions
were not made, and the cash balances have had to
bear the stress of the year ; in fact, the cash
balances in India and England stand at the end of
the year lower than at the beginning by an amount
identical with that of the deficit.

Now, let us see what Mr. LAING has to say to
the coming year. The Calcutta and Bombay
papers are full of his praises. They maintain
that at length a turning point has been reached in
Indian finance—that the perennial malady of
the state has been decisively met ; in short, they
adopt Mr. LAING'S representation of his own ex-
ploit, and believe that their Chancellor, disdain-
ing to let "this huge bully, Deficit, claim • cross
" or a drawn battle," has "gone in and finished
" him." If any such battle hes been won, we
shall be quite willing to see Mr. LAIN° parade
himself as the Tom 5AY11344 of his field. Brefly,
Mr. Luxe thus deals with the deficit. He meets
3,599,7501. of it by reductions ; 2,008,8541.
by improved revenue ; and 500,0001. he
transfers to local budgets. Up to this
point we have been looking at history, the
facts of the last year. Now we come to what
is more like poetry. Mr. Lsmo relies on
military reforms for the promised reduction of
expenditure. We are happy to note the fact that
a real reduction of expenditure of this sort, con-
sistent with the safety of the Government, is going
on, and has been for the last two years. By dis-
banding some regiments, by reducing the numbers
of others, the native army has been reduced by
nearly 200,000 men since 1859, including the
military police. In the European army no such
reductions, it is supposed, can be prudently made,
but • saving is to be effected in tho Commissariat,
Ordnance, and some other military departments.
The sum thus to be won to economy and peace
Mr. Luna puts down at 3,220,0001. If the
Indian Military Finance Commission can bring
about this result it will deserve great credit ; but
looking at the matter with an eye to financial pro-
babilities, we are compelled to remember that last
year, with every motive to economy, only a reduo-
tion of 500,0001. war effected. 11.4 i naval and
marine charges of the year are lower than those of
last year by nearly 500,0001. Anothe- half-
million is to be saved in civil administration. An
increase of expenditure for civil public works
holds the net reduction of expenditure in check ;
but on the whole, and avoiding details in this
rapid survey, we are shown as a general result •
total expenditure for the year 1861-62 of
41,554,6991., as compared with 45,154,4491. in
18430-81, being a reduction of 3,599,7501.

Mr. Luxe's second resource for meeting the
deficit has been stated to be increase of revenue.
In some of the telegraph;c anticipations of the
Bombay mail, it was announced that Mr. Luxe
had abandoned the Income Tax as a failure. This
is so far from being correct, that the Income Tax
figures among the estimates of the coming year
for 1,948,0001. These figures, however, do not
represent the annual productiveness of the tax,
which Mr. LAING sets down at 1,750,0001.
from which 10 per cent. has to be deducted for
oust of collection. The Land Revenue is set down
at 18,951,1581., being an increase of 188,7091.
Salt is estimated to yield nearly half a million
more than last year. Opium is taken at the same
figure as before. Stamps it is expected will
yield 383,3701. more, and Miscellaneous Receipts
750,000!. less than last year. The general result
is that the revenue of India in 1861.62 will
exceed by 2,008,8841. that of 1860.81,
if no accidents happen, and Mr. Luxo's
favourable anticipations are fulfilled. An odd
half million, however, still remains to be
provided to supply the remainder of the
deficit and give the Indian Chancellor a small
surplus. It is by half a million that the charges
for civil public works for this year exceed those of
the last, and Mr. LAING proposes to provide it by
an expedient which in a far-seeing and constitu-
tional point of view is excellent, although, consi-
dered as a financial measure of the year, it will
probably remain in fruitless suspense. It consists
in giving up to local purposes certain sources of
revenue which can be better dealt with by local
than by general taxation. The Supreme Govern.
ment has not the money wherewith to make many
desirable canals and roads, but it is willing to say,
" Take what we are able to give you, and for the
" residue take certain powers of taxation—to-
" bacco, licenses, or octroi, for instance—and raise
" the money yourselves." Such are the main
features of the Indian Budget. It is remarkable
that for all that it has of a hopeful character,
for all its life and motion, it depends
on the old system of taxation, together with those
innovations which Mr. WILSON, in a spirit of ori-
ginality and courage, introduced under circum•
stances of great disadvantage. If reductions are
really effected they will be the work of the Mili-
tary Finance Committee ; if the revenue increases,
it will be by the tries which Mr. L./axe's prede-
cessor established. There are features of importance
in the financial statement for which Mr. LAIN"
should have all due credit, although, so far as
they differ from those of former budgets, they
effect no considerable organic change. The reduc-
tion of the duty on imported twist and yarn is even
more an act of justice to the capitalists of India,
who have been misled into importing machinery
and building mills by a duty so high as to be
practically protective, than to our own manufac-
turers. Equally satisfactory is Mr. LAING'S assur-
ance that the Government, in administering the
three millions sterling appropriated to civil public
works, will urge on the construction of good roads
in the cotton districts. These two reforms are
obvious enough, but a minister who should repair
only palpable errors and omissions would make
himself a distinguished name.

MAMIE ai RAILWAY COMMIS-
stow —The essemisissers real 7... ender, but the
parties net bells
est' Moods,
wit
journe prepared to pressed with their respective
aim, add