The Sun.
London, England, 1862-05-09 00:00:00

[LEFT SPEAKING•)

—'People may
THINGS NOT GENERALLY KNoWN'—
Po
not be generally aware of it, but, if Mr. Cowper is to be be-
lieved, Big Ben is altered in tone; they have raised him to
B-quiet.—Punch.
before. yesterday by workmen
An interesting discovery of old coins and jewelry
ground in the new streets. Two
WAS made at Rouen the day
taking up the pavement on a spot which
engaged in levelling the
men, who were
Saint-Jean, were surprised by finding a
was formerly the courtyard of the Hotel de la Pomme-de-
Pin, in the
ecoms under the stones.
number They were about
the size of a "-Piece, and most of them French, of the
reigns of Louis XI., Lotus XII., Francois 1., and Francois
IL Some few bore the arms of Dauphiny, while others
were Spanish, of the reigns of Charles V. (from 1516 to
1555). Near them was a handsome gold ehain, about two
feet long, to which was attache& a large gold medallion,
with heads in prscious stones. The chain appears to have
belonged to a Spanish grandee of the 16th century, and
weighs nearly 150 grammes (50z.). This treasure, the total
valueofwhich as old metal is about 1,200 fr., will be sold
by auction, and divided according to law ; one-half of the
proceeds going to the present owner of the ground, the
other half to the finders.
A NUT FOR NAPOLEON.—Because Rome le the
Eternal City, that is no reason why the Pope, by the tem-
poral misgovernment of Rome, should be suffered to make
Rome an eternal bore.—.Ptoten.

On the order fcr the second reading of this bill,
Sir S. NORTHCOTE having taken objection to certain
items in the Budget of the Chancellor of the Exchequer,
said that he had to complain of the financial theory pro.
pounded by the right hon. gentleman, namely, that he
was responsible for any expenditure recommended to the
Government. In making this observation he was only
reflecting the impression which prevailed in the country,
for the community at large looked forward to the financial
minister as being responsible for any measures relating to
finance, or at all events to Government, who had adopted
the scheme of the Chancellor of the Exchequer.
He contended that i was a most unconstitutional doctrine
that Government should release themselves from the respon-
sibility of such fin tncial changes as those recommended by
the Chancellcr of the Exchequer, and he referred to the
authority of the late Sir Robert Peel in support of his
views. The Chancellor of the Exchequer was considered
to be the exponent and perpetuator of the policy of that
statesman, but he denied that he was entitled to that cha-
racter. He was only a follower in a half sense of that
statesman. In illustration of that statement he said that
the policy of the late Sir Robert Peel was always to have
a surplus in our expenditure, and he denounced in strong
terms the removal of the duty on paper, which he believ6,4 the
late distinguished statesman, to whom he referred, would
never have assented to under the financial position of the
national exchequer, at a time when the impost was removed.
He condemned the policy of the Government as regarded the
expenditure on military works, which he contended were
quite unnecessary in tt, e existing relations with foreign
countries. (Hear, hear.) There was no chance of
any country attacking us, and, according to the policy
of this country, which was that of non-interven-
tion, there was no great chance of us invading other
nations. Notwithstanding this fact the country was called
on to provide a large military establishment to meet ima-
ginary dangers. In reference to Italy, it was most
desirable that that country should work out her free-
dom. (Cheers from both sides of the house.) In
carrying out this object difficulties might have to be en-
countered, and this country might have to be called on to
interfere, but it would not be in the character of an armed
mediation. Having adverted to the progress of science in
regard to military operations, which had so rapidly super-
seded the old tactics of the military system, he admitted
that the defects of our system were fully developed
the events which had taken place in the Russian war, but
at the same time these defects had now been remedied.
(Hear, hear.) Under all these circumstance, he
felt bound, without any party spirit, to object in the
strongest terms to the military expenditure proposed.by the
Government for the present year.
Mr. W. FORSTER pronounced a warm eulogium upon
the Manchester speech of the Chancellor of the Exchequer,
which he said encouraged the hope that the house would
be called upon to consider whether the expenditure—parti-
cularly the naval awl military—was not susceptible of re-
duction with a due regard to the honour and safety the

country.
Mr. HUBBARD called attention to the unequal pressure
of the income tax upon persons in the reefipt oomf fleuctuating
measures
incomes, and urged the necessity of adopting s
of redress.
The CHANCELLOR of the EXCHEQUER disclaimed
the exaggerated and higlily-coloured interpretation put
upon his Manchester speech by Sir S. Northcote. So far
from repudiating the responsibility which belonged to his
department, he fully accepted it, and was ready to assert it
in the case as well of the Government as of Parliament. He
argued that the circumstances of the country at the present
moment were exceptional ; and theywere these—an in-
creased war expenditure, the distress prevailing in the
manufacturing districts, and the military demands for
China, New Zealand, and North America, all of which
were elements which must act in a greater or less degree
upon the state of the finances. Yet, notwithstanding those
exceptional circumstances, the expenditure of the country
had been somewhat reduced, and he had ventured to re-
commend that we should continue, with as much vigour as
possible, but all due caution, in the same course. He denied
that he had departed from the principles of the late Sir R.
Peel, and in proof referred to the fact that in 1842 the right
hon. baronet repealed taxes to a large amount, and ended
the year with a deficit of £1,500,000. With regard to the
charge that the Government had recklessly disposed of
funds from which a surplus might have been provided, and
that if the paper duty had been retained the surplus would
have been more than a million, he did not believe that the
house would have allowed them to maintain such a surplus ;
and the remission of the paper duty stood as an act done
by the House of Commons, and from its consequences the
house could not escape. He pointed to the effects of the
commercial policy of the Government in an extended trade,
enhanced employment, the generally improved condition of
the people, and, notwithstanding all adverse influences, the
recovery of from £800,0( 0 to £1,000,000 a year of revenue
since the year 1860.
Mr. DISRAELI congratulated the house and the coun-
try upon the admission of the Chancellor of the Exchequer
that he was ready to assume the responsibility attaching to
his office, and defend and vindicate the financial policy of
the Government. The right hon. gentleman had declared
that no government could have retained a surplus had
without repealing the paper duty, but
hto the
omitted to state that whilst applying his
surP
mi"illion of
abolition of that duty he had neglected to pa
Exchequer bills then due, and he had not ey
ciniaedthat he
f the country
had exhausted the extraordinary resourcesfoat he had
to the amount of £4,000,000 in two years,
com-
menced the year with a million and a half of surplus, and
although two millions of terminable annuities had fallen
in, in, that he concluded the year with a deficit of
proposed
railli°ltll
and a half. The bill now before the house
the
largest amount of annual taxation that was ever Contained
in one bill, and it was not a measure to be petalled, of course,

as if it were no more than a bill of indemnity. What were
the exceptional circumstances that justified such an enor-
mous amount of taxation ? And why were we expending
so much upon armaments ? Our self-defe.ace was adequate
and complete, and we had no reason to fear invasion. We
had no great object of material importance to attain; for
the country was in possession of everything that the pride
of a rational community could desire. Yet we had the
prospect of a deficit falling upon exhausted resources and a
declining trade. It was quite clear, therefore, if the ex-
penditure was to be maintained at its present rate, there
must be an appeal to fresh taxation ; and upon whom
would that fall ? During a time of peace we were bearing a
war expenditure, whilst we had a financial system that wee
founded on a peace expenditure. We had been increasing
the expenditure to the war rate, whilst we had been gradu-
ally and continuously destroying the sources of permanent
revenue. What, then, must follow ? The maintenance of
such an expenditure must produce increased taxation, and
that must fall upon that milch cow, the landed interest. la
believed that the object of our increased armaments was tc•
maintain our influence in the councils of Europe, and that
it was the jealousy and misunderstanding between France,
and England which had led to them, and which be could:
only account for by the circumstancethat the two countries,
having the same objects, contemplated those objects in a
different light. This was essentially the case with respect
to the question of Southern Italy, in reference to which the
two Governments were in accord on the main principle at
issues Seeing, then, that fear of invasion was an absolute
illusion, that there was no point of importance that England,
had to attain, and that the councils of Europe in which we
wanted to exercise an influence consisted only of England
and France—the latter our cordial ally—it ended in this,
that we were arming against that ally. Oh, but this was
called governing by moral power; but four or five years of
such government by moral power would necessarily lead us
to a European war. And how should we then find ourselves
prepared, with our financial reserve exhausted ? Why, there
was no fleet or armament that gave England such influence
in the councils of Europe as the consciousness that the in-
come tax was is a virgin state. He called uponthe Govern-
ment, then, to reverse their policy, to come to a really cor-
dial understanding--a sensible as well as cordial under-
the only power which, with itself, formed
standing—with
the councils of Europe, and put an end those swollen and
bloated armaments which had brought the country into its
present state of financial embarrassment. It was only by
following out a policy of conciliation, not of an overbear-
ing and dictatorial character, that we could establish truly
friendly feelings of France, and that substantial and per-
manent relief could be supplied to the taxpayers of the