The Sun.
London, England, 1853-10-11 00:00:00

INCOME.

Customs • • • • • • .
Excise .. • • • • • • • -
Stamps
Taxes • • • •
Property Tax
Post-office • . • •
Crown Lands .. .
Miscellaneous • • • ........
Iraprest and other Moneys ........
Produce of the sale of Old Store ;
Repaymeuts of Advances

To cash brought to this account to pay
off Deficiency Bills .. .. .. ....

THE REVENUE.

(From the Times.)

The quarterly statement of the revenue exhibits
it still on the increase, notwithstanding the lavish
reductions to which it has for some time been cen-
t inually exposed. On the Customs of the quarter
compared with that ending October, 1852, there is
an increase of 120,6671., in the face of reduced du-
ties on sugar and tea. The returns of the Board of
Trade have already prepared us for this improve-
ment, by the great increase of importation in al-
most all articles of general consumption, including
sugar and tea, and particularly in wheat. In the
quarter's Excise, which has just been largely affected
by the repeal of the duty on soap, it is something
to report that there has been no decrease. The
Stamps show an increase of 98,7421., notwithstand-
ing an increase of about the same amount in the
corresponding quarter of last year. It is the na-
ture of the Assessed Taxes not to rally, like
other sources of revenue, after reductions, under
the influence of prosperity, for they are levied on
articles not liable to rapid fluctuations of use
and demand. Accordingly, after the late revision
of those taxes, we are not surprised to find them
yield 29,9961. less than in the corresponding quarter
of last year, though that quarter still showed the
effect of the measure substituting the inhabited
house tax for the window duties. A slight increase
in the produce of the income tax, and decrease in
that of the Post-office, are probably alike matters
of account ; as also may be said of an improvement
in the receipts from the Crown Lands and Miscel-
laneous items. The result is, that the net increase
on the whole revenue of the quarter from ordinary
sources is 226,7541. Taking into account Imprest
and other Moneys, and Repayment of Advances,
this increase is augmented to 417,7271.—a matter
of great congratulation at a time when the prospect
of a short harvest, war, and some possible checks
to our foreign trade, make it doubly important
that the credit of the country should stand high,
as it undoubtedly does at this moment.
The comparison of the whole year with that end-
ing October 10, 1852, exhibits corresponding re-
sults, except that in it there happens to be only
one branch of income—that from Miscellaneous
items—which does not show an improvement. The
several amounts of increase stand thus :—Customs,
361,519/. • Excise, 372,768/. ; Stamps, 476,3721. ;
Taxes, 27,159/. ; Property-tax, 204,191/. ; Post-
office, 45,000/. ; Crown Lands, 182,8881. ; while
the single head of decrease is 110,0331. On all
these heads, except Customs and Taxes, there was
an increase in the year ending October 10, 1852,
as compared with the year before that. In the
present instance the aggregate increase' rom ordi-
nary sources of revenue on the whole year is no
less than 1,559,8641. There is also a large increase
in the receipts from Imprest and other Moneys,
and, still more, in those from Repayment of Ad-
vances. The net increase in the income of the
year rises to the very high figure of 2,311,7521.
We can hardly anticipate any attempt to explain
away so palpable and gratifying a fact. It is very
plain that we have not got to the end of the reduc-
tions of which the revenue is capable, though, of
course, the precise time for these reductions must
depend upon many considerations besides the
buoyancy of the revenue.
With a revenue so sound and so productive, and
with an expenditure kept well within bounds,
there is not much reason for the misgiving that
has been expressed in some quarters as to the pos-
sibility of the financial operation to come off next
January. With a large sum of money in hand,
the Chancellor of the Exchequer will probably be
able to exchange the requisite amount of South
Sea and other annuities for Exchequer-bills with-
out much difficulty. As expressed in our City
Article of yesterday, "public obligations bearing
3 per cent. in perpetuity will be paid off partly by
cash in hand and partly by securities carrying in-
terest at the rate of 31. Os. 10d. per annum, which
will admit of being reduced whenever the money-
market may be favourable for such an operation."
It is still, indeed, in the power of political events
to increase the difficulty and cost of the process,
but no imaginary plan of conversion could have
avoided such contingencies, and, unless we give
up all idea of paying off any portion of the debt,
except by the ordinary process of buying stock
at market prices, we must be prepared for
the casualty of the est possible plan being baulked
by the inopportune course of public affairs. For
our part, we entertain a confident hope that things
will be better rather than worse in January next,
and that the Chancellor of the Exchequer willac-
complish the conversion of the South Sea and other
stocks without that pressure on the money market
with which we have been threatened. i Its very
hoat true uwe
adventurous
can
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tell
Australia,
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ars
ors cuoorfuEn wealthturry o pi is
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next year. Appearances are so far against us, but
the country has often unexpectedly recovered from
more imminent dangers, and it is a great consolation
to reflect that in some of these matters we are only
doing our duty ; in others, only threatened with
what is inevitable. England had no part in the
origin of the Eastern difficulty. England has not
plunged China into disorder. England has not
been too prompt to risk her wealth and credit on
the faith of Australian returns. If all these things
should prove against her, it is not her fault, nor
could they be avoided.

EXTRAORDINARY ACCIDENT IN KING, WILLIAM-
STREET.—MIRACULOUS ESCAPE.—Shortly after six
o'clock last evening, a most extraordinary accident oc-
curred in King William-street, London-bridge, nearly
opposite the Swan Tavern, which, at the time, caused
considerable alarm, and had nearly proved fatal to
several persons. It appears that about the time in
question, one of the Favourite omnibuses was proceed-
ing along the middle of the roadway towards London-
bridge, when it came in contact with one of Macnamara's
luggage-vans, which came in an opposite direction, the
pole of the latter forcing its way with great violence
through the front panel of the omnibus, immediately
behind the off-side horse, and striking with great force
the conductor, who happened to be sitting on a seat
inside, who was so much injured that, after receiving
medical attendance, it was necessary to convey him
away in a cab. Fortunately, there was only one pas-
senger inside (a young lad), who escaped without in-
jury, and from this circumstance, and the fact of neither
of the drivers being hurt, this fearful accident termi-
nating without loss of life is considered most miraculous.
RUSSIAN INVASION OF TURKEY.—Last evening a
public meeting of the inhabitants of Kensington, Ham-
mersmith, and the adjacent districts, was held at the
Prince Albert Tavern, Notting-hill, for the purpose of
taking into consideration the present aspect of the East-
ern question, and the conduct of the Government in
reference to it. The meeting was a very crowded one,
and a large number of persons who presented themselves
were unable to obtain admission. Mr. C. W. Dunford
was called to the chair, and the meeting was addressed
by Mr. R. Bateman, Dr. Truman, Messrs. Ni3holay,
Williams, Beneste, J. W. Howell, and D. -Urquhart.
The resolutions unanimously adopted, condemned the
present system of managing the intercourse of nations,
as shown to be injurious by the state of events in the
East, and declared the necessity of abandoning secrecy
in diplomacy, and attributed the prevailing dearth of
provisions more to the conduct of Russia on the Danube
than to the defective yield of the late harvest. It was
further agreed to appoint a committee to draw up ad-
dresses to her Majesty the Queen, and the Sultan, and
to take measures for their presentation through the
usual channels.