The Sun.
London, England, 1852-04-06 00:00:00

itsimellind .71att.

LONDON, TUESDAY, APRIL 6, 1862.

THE QUARTER'S REVENUE.

The Revenue Returns for the financial year and
quarter, ending the sth April instant, have been
published in due course, and will be found in another
part of this day's impression. They are of an ex-
ceedingly satisfactory character, and afford additional
proofs of the accuracy of the old financial paradox—
that as in fiscal addition two and two will not amount
to: four, so in fiscal subtraction two being taken
from four will leave a residue exceeding two. They
also show the auspicious results of the free-trade
policy, on which the country is shortly to record its
verdict. We have often spoken of the wonderful elas-
ticity of the national resources. We find that a consi-
derable reduction on a particular item is nearly, if not
altogether, compensated by a vastly increased consump-
tion, while even in cases where tilt charge is alto-
gether abolished, we find that something like an
equivalent springs up in other directions. The most
enthusiastic fiscal reformer may gather additional
courage from the array of figures now presented, as
affording encouragement to the boldest experiments.
Where none have hitherto proved failures, it will re-
quire but little persuasion to induce us to advance in
the same direction.

On the first view, the matters do not ap-
pear to be so perfectly satisfactory as they
will be found on close examination and
an attentive consideration of the circumstances
of the case. It is true that there is an improvement
of 102,5401. on the quarter, but there is a deficiency
on the year of 707,5581. The former shows that
whatever losses there may have been, have already
been recovered, but the latter speaks of such losses,
and we must clearly and distinctly ascertain their
nature before we can express unqualified pleasure
at the results. The first point worthy of notice is,
that although the improvement on the quarter is only
102,5401., the actual increase in the ordinary re-
venue is no less then 277,1641., which is reduced
by 174,624/. in consequence of the de-
crease of the casual revenue under the
following heads, viz., imprest and other
monies, 121,3241., and repayments of advances,
53,3001. These are, however, of but little real im-
portance beyond the sums actually concerned, so that
the improvement of permanent income may be looked
upon as 277,1641., and not 102,5401. only. Again,
i u like manner, the actual decrease on the year on
the ordinary items is but 568,708/., there being a de-
ficiency under the head of " imprest and other mo-
nies" of 129,367/., and of repayments of advances of
9,483/. The matter is thus far better than it looks
on a mere common-place inspection, and without, in
any degree, entering into the causes by which it has
been produced. When, however, we look to the sub-
stitution of the house tax for the window tax, and
the reductions in the duties on coffee, sugar,
and timber, that came into operation within the past
year, and also the repeal of the duty on bricks, and
the reductions on stamps and sugar during the pre-
ceding year—amounting in the whole to nearly
3,400,0001., we may justly express our unqualified
gratification at the almost miraculous result.
We shall now look to the particular items. On the
Customs, showing the condition of our foreign trade,
there is an increase on the year of 97,266/., and on
the quarter of 66,759/. ; and this, notwithstanding
the reductions above alluded to on coffee, sugar, and
timber ; we have thus had far more value for our
money, and what is still better, that increased value
has been paid for, not by the exportation of bullion,
but ourb-j produce of the labours
of the industrious
mstriaanfac es, the
uactivasrsev.
Again, in the Excise we find in like manner an
Improvement on the year and quarter, on the former
of
57,074/.1 on the latter of 89,528/. This, however,
does not show the real extent of the increase in that
which has been justly considered the index to the
prosperity of
the working classes—the labouring
population of the country
eca o
In Stamps
the deficiency
on the year has been
203,9981.,
and on thee quarter
however, bear in
mind
fr a
teosl the reductions—or rather the
modifications—
itnm
olrBestoh, a
a hwhichal f a
mw
ere o
ne sptei
mated to lead to
annum. We cannot, therefore, complainwhen we
find the actual deficiency
less by more than 50,0001.
than was calculated on.
1 In the Assessed Taxes there is a deficiency on the
year of 659,5051., which may easily be accounted for
by the abolition of the inf amnas tax on light and air,
which far exceeded
the inhabited
house amount of the
house duty, ''s4 hich was granted in lieu thereof, We