The Sun.
London, England, 1863-05-26 00:00:00

THE RUSSIAN BUDGET,

ST. PETERSBURG, May 20.
The Ministry of Finance has just completed and
published one of its most important labours—the
budget for 1863. Instead of the simple balance-
sheet of tables sent into the world last year as the
first Russian budget, we are presented upon this
occasion with a regular argumentative report, gill'
lug manifest signs of its author having put the best
face upon affairs. There are probably few countries
where a single year brings about such changes in
finance as is the cage here, and Herr von Reuters
has taken trouble to enumerate them in detail. It
is only requisite to observe that the practice of farm-
ing out the right of supplying brandy, hitherto the
main source of revenue, ceased on January 1, and
had been replaced by free trade ; that the tax upon
trade will be assessed upon new principles, and with
50 per cent. reduction, from the Ist of July ; and
that the poll-tax in towns has been abolished, and
a house tat substituted in its stead. With all these
changes it is difficult to form an even approximately
correct estimate, and comparisons with the bygone
year are quite impracticable. Added to this comes
the fact that a number of income and expenditure
items, formerly not mentioned in the budget at all,
are now introduced. The income from these sources
alone amounts to 42.7 million roubles, and the ex-
penditure to 37.8 millions. The former of these are
estimated at 318.8 millions for 1863, or, after de-
ducting the above-mentioned 42.7 millions, amount
to 276.1, while the figures in 1862 were 284.7. The
diminution is owing to the abolition of brandy farm-
ing, for the consequences of which the Government
had no standard of measurement, but simply as-
sumed that a deficit of 14 millions might take place
in this branch. It appears, however, that the first
quarter of 1863 has not justified this assumption,
but that, on th© contrary, an increase of income
from this source may be expected. With re-
spect to events in Poland alone, the Minister
has found his lowered estimate correct. Owing
to the abolition of the above-mentioned direct
taxes, the revenue from these last has diminished
by 520,000 roubles; but the Crown domains, on
the other hand, have produced an increase of 2.7
millions. The supplementary impost of 25 per cent.
added in October last to the tax on occupants of
land, has produced 6,290,000 roubles. A decrease
of 700,000 roubles was expected in revenue from the
removal of the cotton tax, and a diminution of
1,700,000 roubles on the mining produce and coin
taxes, owing to the abolition of the former to make
way for free trade.
The expenditure is estimated at 330.5 millions,
which, after deducting the 37.8 millions not pre-
viously taken into consideration, leaves 292.7 mil--
lions for comparison with 1862, when the expendi-
ture amounted to 310.6. From this 15 millions are
to be deducted which have been expended upon ac-
count of sources of revenue no longer in existence
(brandy, &c.). The remainder therefore amounts
to 295.5 millions, or a diminution of 2.8 millions in
1863, and this notwithstanding the increase 'if cer-
tain expenses, such as pensions, the interest of the
new loan, &c. The deficit, which in 1862 amounted
to 141; millions, has risen in 1863 to 15.7 millions.
This it is proposed to cover by an exchequer sur-
plus of 700,000 roubles, and the issue of five series
of Treasury bills, each series consisting of 3 mil-
lions. Of these latter 9.6 millions are already is
circulation. The financial report, as may ba sup-
posed, is silent as to the influence of the Polish re-
volution upon this comparatively favourable budget,
and it posseeses therefore a purely statistical value'