The Sun.
London, England, 1852-07-06 00:00:00

THE QUARTEh'S REVENUE.

The Revenue returns for the financial year and
July instant, are of a very
8 character, affording the most conclusive
evidence
generaltihnegtahe sth
c welfare
and prosperity.
tcl ra aift
esr taebcr at t°e ortnf Yh d
charere is a fal ling off
lnud lth e
of revenue, both on the year a uoarrdti
enra,r by
u these I
sourced
is
are immediately explained by
have already taken place in the stamp duties and the
taxes on light and air, while the in those
on alterations
on sugar and timber ha've produced no perceptible
effect, or at least have not led to any diminution in
the Customs' receipts. We may reasonably anticipate,
too that these favourable indications
will be continued
for some time. Thanks to
the gold discoveries in
California and Australi?, we have at length a circu-
lating medium adequate to the wants and exigencies
of the country. The industrial machine is
therefore
continued in motion. Men able and willing to work
are tolerably certain of obtai • meg employment at fair
wages, and being through it enabled to provide for
themselves and families the bumble f com orts which
should always be within their reach. And as, after
all, the working man is the chief contributor to the
national exchequer, whenever he is well off and in
constant remunerative occupation, the effects become
speedily perceptible in the increased produce of the
national taxation.
In the Customs we find that there is an • improve-
ment on the year and quarter—on the former of
206,702 d., and on the latter of 183,9461., and this
notwithstanding the reductions on the sugar and tim-
ber duties, already referred to.
There has also been a smaller quantity of corn im-
ported, in consequence of the abundant harvest of last
year, which nearly supplied the home markets with
the home produce. The improvement on the other
items is, therefore, the more remarkable, and a hew
illustration is afforded of the almost miraculous elas-
ticity of the national resources.
In the Excise there is a diminution on the year of
13 2051., but an increase on the quarter of 23,7061.
The former may partly be accounted for by the fact
that large arrears of hop duties were collected in the
former year which could not fairly be considered as
parts of the ordinary annual revenue. There is,
however, nothing to abate the gratification which
arises at the improvement on the quarter, of what
has been most justly termed "the index to the
Prosperity of the working classes,"—an improvement
the more remarkable when we consider that the cor-
responding quarter of last year included the two first
months of the Exhibition, and the month preceding
that event, when the greatest activity was required for
the necessary preparations.
In Stamps there has been a decrease on the year of
37,389/., but an increase on the quarter of 1013341,
It must be borne in mind that after the Stamp Act of
1850 received the Royal assent, the several distri•
butors suffered their stocks to run very low in order
to take full advantage of the remission. The conse-
quence Was that the quarters ending the 10th October,
1850, and the sth January, 1851, were exceedingly
productive. There must have been great activity in
trade and commerce to account for the very large
improvement on the last quarter.
In the Assessed Taxes there is of course a large
falling off on both periods. It was estimated that
the substitution of the house-duty for the window-
tax would occasion a loss to the revenue of two-
thirds of the receipts, or, in round numbers, about
1,200,0001. This estimate proved more than usually
accurate, as we find the falling off on the year to be
1,172,9791., while that on the quarter—which, how.
ever, in this instance, may be regarded as the half-
year—is 541,5241. It will thus be seen that the
compensating principle is already in operation, and
we have no doubt that when the houses now building
are assessed to the duty, the loss will be very consi-
siderably reduced.
In the Property-tax, there is an improvement on
the year of 10,485/. This is the more satisfactory, as
for Some time Fut we have had to notice a bte43y

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