The Express.
London, England, 1868-04-24 00:00:00

TIM SDST.

Observing, in passing, that the apathy which
awaited t►e ►udget last night is explained W the owe(
ledge that no emission of taxatiesa was is gerepeet, the L
Ames deduces from Mr. Hunt's figures the fact that the
revenue of the year 18674 has shown a remarkable 'Wadi-
num and, in fact, exhibits a slight advance. The estimate
of the eost of the Abyssinian expedition, however, is pal- a-
pa* imprudent, and the determination to throw
the whole burden of it upon the roan ne tax
is a pandering to immediate popularity against ..
which our contemporary protests is the strongest,
terms. As to the proposal to bonow a million there is
no jastifieation for the loan, when we are at the mine time
gratuitously repaying a portion of mar debt. Lot the re-
payment by terminating annuities be suspended, and fl ',
the Income tax prove available it will make good the year
during which the repayment has been omitted.
Faweett and Hr. Hubbard *Med is reemenmadlag &
mums against which ao one bad ay resists to Imp. Ito
any one would seek for an explanation of the sammaly .
that injudicious counsels will sepses** be adorlid by
default, the reason for is ii perhaps to be found in the fact
that the mischief may be ultimately traced Is those Who
occupy the front opposition bench, and that the ministry
stieseeding to their places have inherited the consequences
of their errors.

According to the Daily News, Mr. Hunt's statement was
ample and explicit, and though exhibiting no mastery of
0001101111.1 C and financial mi. nee, and failing to give noity to
its scattered details by soy large oonseptka of policy or
principle, yet it was, in a clerkly way, sseinfactory. The
proposition of 11r. Baring to provide for some of the deli- ,
ciency by increasing the customs duties 5 1 ete cent., would
no doubt, divide the burthen of the Abysabdsm Var be-
tween income tax payers, and those who are fated -
tartly : but the inconvenience which would result to .
trade by the change proposed justifies the course taken by
the Chancellor of the li:chequer. If, hovel or, the ex-
penditure of the country Lad been kept at the
point at which the late government left it there
would Lave been no necessity tor the addi-
tional taxation which it is now proposed to levy.
Mr. Gladstone has always prote,ted against extravagant
expenditure, and the Daily New) trusts he is mow saolved
to enforce retrenchment.

The Herald says that in the discursive deb.' e which
followed the tisane:al statement the propriety of the
plan for meeting the deficiency was hardly questioned ex_
oept by Mr. Baring. Mr. Gladstone, on the other hand,
admitted the soundnets of the scheme, and the opinion of
the bones was almost unanimously in its favour. The
Herald admits that there is plenty of room for economy in
the national expenditure, but contends that it is not to b•
effected by starving the public services.
Tlie Post is of opinion that Mr. Hunt has not succeeded
in justifying the financial administration of the govern.;
meet. He has neither given any explanation which •
suffices to remove the imputation of lack of knowledge and
want of sagacity which the miaalculations of last Novem-
ber have properly oast upon them, nor has he answered
the complaint which the country find.' strong ground for
making in the fact that in the face of a falling revenue
the government h►ve indulged in increased expen-
diture in almost eve); branch of the public 'erste*.
The Post does not believe that the increase in the income-
tax to sixpence will produce anything like the sum anti-
cipated ; because there is now an enormous amount of
money capftal which previously paid income-tax that is
now held in absolute suspense, neither moving itself nor
the cause of activity in others. The customs is the only
system of taxes which has been exhibiting any elasticity,
and the P.st thinks Ur. Hunt has not done wisely in
neglecting • source of revenue which alone. moat all
undar hie band. presents those conditions which justify
the financier in relying upon tim imposition of additional
pressure cresting increased supply.
The Tere-Taph says the superadded impost which-
the
public now accept as so bitterly unwelseise • imprint,
might have been spared had their representatives exer-
cised aright the function of ►cling as the inquest of the
national expenditure.

The Star allows that the ministers have exercised a
sou
nd diseretion is putting the burthen of the Abyssin.an
expedition upon the Income tax. At all events, this extra
expenditure will not be directly cr mainly drawn from the
narrow mains of the poor.