The Express.
London, England, 1857-10-12 00:00:00

CORPOZATIOX 712UNCR.

The special revenue committee have just issued
their report to the Court of Common Council with reference
to the finances of the corporation. The principal object of
the appointment of this committee wee to consider some more
economical mode of meeting the obligations of the corporation
than by effecting temporary loans at a high rate of interem—
• mode which they recommended in a previou report,
The present document contains • full and lengthy expontion
of the receipts and liabilities of the corporation, by which It
appears that for the last ten years the expenditure has ex-
m64 the i 130012111 by the enormous amount of
90,000!. per annum. Respecting this the committee
state :—" We are sot charged with the duty of ta-
pering an opinion whether an expenditure of 915,9891. in
axone of our income during the last ten years is or is not
justified by the circumstances that led to such an unusuallylarge outlay; we, therefore, make no comment. We, how-
ever, beg to suggest that if hereafter any such considerable
sums of money are authorised to be raised for public works,
some provision should be made, either out of the revenue
which it ia expected to yield, or out of the general income of
the corporation, by way of a sinking fund, to liquidate the
charge in the course of years, in order that our aticorasore
may pomeve the opportunities we have had of effecting such
useful public improvements as the • ants of meteeding genera-
tions may require."
A portion of this amount wee incurred in the erection of
the prison at Holloway, at the sum of 92,9001., in addition
to the value of the site, and in the construction of the new
cattle market, ate met of 443,0001. The other items are for
street improvements navigation of the Thames, etc. With re-
gard to thecattlemarket the report Mates: —.Parliament haajust
passed an act authorising an increase of the tolls, and em-
powering the corporation to let upon lung room the eurplue
land, which experience proves is not actually required fur
market purposes. It must be admitted that the r orporation
has from its own resources erected a cattle market for the
public accommodation, with which in point of size, conve-
nience, and beauty, no similar establishment in the world
can be compared. It is to be hoped that in the course of
time the corporation, under the provisions of the new act,
will be able to derive an improved revenue, to relieve the cor-
poration from some portion of the debt and the interest, which
at present press heavily upon its Income."
The report concludes with the following advice:—" We
take leave further to suggest that it sal be expedient
pniodkally to lay before the Common Council in mine speed
form, a full statement of the entire income and expenditure
of the corporation year by year with an amount of the debta
from time to time raised and discharged, whether under the
denomination of City's cash, or in respect of any other funds
which It administer,. We think it would be likewise expe-
dient to have some fixed day annually set apart for the die-
cordon of the general @friars of the corporation is the Court
of Common Council, upon which manakin arrangements may
bo made for fixing the expenditure during the ensuing
financial year, by which means a due relation between Its
Income end expenditure may be selablishcal."

SHEFFIELD

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