The Sun.
London, England, 1864-01-01 00:00:00

THERMOMETER.

This day at Two o'clock .. 44
Barometer-29.80.
Wind—North East; moderate, and fine.

•

Suit

year's income to the extent of no less thin
11,298,000, the two together making a decrease
within 1863 of nearly two millions sterling,
£1,913,000. Hence the net decrease upon this
twelvemonth of £562,809 hint it ce lachrynve. It
ought, of course, to be borne especially in mind
while attention is thus directed to the darkest
figures upon the balance sheet for 1863, that the
losses referred to are solely attributable to the reduc-
tion of the impost upon tea, and the diminution of the
tax upon ineomes and property, reductions boldly ad-
ventured npon last year at the instance of the Right
Hon. the Chancellor of the Exchequer. Only,
again it ought be borne in mind, while saying this,
that had the like been done by his antagonist, that
is to say, supposing that Conservative opponent of
his had been in power and had so regulated the affairs
of the Exchequer in 18d3 as to bring about this
very result of a net loss upon the year of £562,809
sterling—certain are we, that the indignant
eloquence of Mr. GLADSTONE would have been
devoted towards the close of next March to the
reprobation of such very rash proceedings on the
part of an over busy, not to say, crotchetty and
popularity-hunting Administrator. Nowhere is
an especial regard to the good old axiom which
urges us to look before we leap, more urgently
advisable, than in the regulation of each and
all of the innovations that may at any time
be adventure) upon in the department of
the Exchequer. Latterly the effort has been made,
under the wise supervision of our master Financier
Mr. GLADSTONE, the effort has been not by any
means to so calculate the national incoming and
outgoing as to have even the smallest reasonable
prospect of a surplus, but on the contrary, and at
all hazard, even with a war expenditure in a time
of peace, to pare the income down, as it were, to
the very quick. Not only has it been thus
with us, in regard to the system of late years
in vogue at the Treasury, even under the
sagacious direction of that department by
Mr. GLADSTONE ; but two other distinctive
peculiarities of his policy as a financier do certainly,
to our thinking, necessitate our regret, even if they
do not actually demand our reprobation. To say
that even Mr. GLADSTONE—not, observe, his often
flouted and reviled antagonist, Mr. DISRAELI, but
the great Financial Minister in Lord PALMERSTON'S
two Administrations—to say that Mr. GLADSTONE
is not a wilful and rash experimentalist in Finance
would ba a bold assertion for anyone to make after
the two perverse attempts (happily, both of them,
quite futile) made by him this last year, that is, in his
Budget of 1863, on the one hand, in the matter of
the club licences, and on the other in his projected
impost upon charitable endowments. Added to
which, even regard to the abolition of duties
hitherto levied upon a great variety of imports, of
taxes 'evied upon this or that article of home manu-
facture, it bears an appearance of singular perversity
to find him, as we do, dealing out remissions thus
during the last few sessions—in regard to what
imported commodities, in respect to what articles
of home consumption ? In regard to the actual
necessaries of life ? On the contrary, in respect
to proverbial luxuries, to such luxuries, let us say,
as playing cards, or as claret.