The Sun.
London, England, 1853-04-19 00:00:00

(From the Morning Aevertiser.)

The new Budget, to the development of which public atten-
tion has been so much directed of late, is at length before the
country. The intense interest felt on the subject was evinced
by the exceedingly crowded state of the house, and by the
close and continuous attention with which Mr. Gladstone's
speech was listened to from its commencement to the close,
though the delivery occupied five hours.
The financial schemes of the right hon. gentleman, though
in part good, will not, unless we greatly mistake, meet, as a
whole, the views and wishes of the country. They are not
certainly what his more sanguine friends expected.
For the various things which the Chancellor of the Exche-
quer is not to do, we must refer to the speech of the right
hon. gentleman. After having alluded to these, Mr. Glad-
stone came to the great financial question of the day—the
income tax. Our anticipations yesterday morning respecting
what he would not do, in reference to that unpopular impost,
are verified to the letter. Ho will not consent to make any
distinction between precarious and fixed incomes. And here
he will find that he has committed a great error, as well as
perpetuated an existing injustice. The income-tax part of
his Budget will be the most unpopular of all. It is true that he
proposes to reduce the assessment from 7d. to 6d. per pound
after a period of two years, and, after the expiration of other
two years, from 6d. to 5d., at which latter sum it is to con-
tinue for three years more. This is no better than a piece of
miserable peddling, and, besides, it sanctions the flagrant in-
justice of taxing the brains of the professional man, or the
pen of the clerk, at the same rate as the rich landholder or
the wealthy fundholder, whose income is altogether irrespec-
tive of effort of any kind, mental or physical. But we need
not dwell on this feature of the Gladstone Budget. We have
expressed ourselves, by anticipation, in as strong terms as we
could employ in condemnation of this gross injustice to the
toiling myriads in the various uncertain proceedings of life.
The income tax is to be extended to Ireland. That is com-
mendable. The announcement will be received with a re-
gular Xrish howl on the other side of the Channel, even though
it is only to be fivepence in the pound there, while it is seven-
pence h ere. The tax is also to embrace all incomes down to
100/. a gear ; but for these it is to be fivepence, not seven-
pence.

With a. limited surplus, the reduction in the amount of
taxation oould not be expected to be great. The Right Hon.
Gentleman proposes to make a compromise between himself
and those who defeated him on the advertisement duty. He
could not consent to abolish the duty entirely, but is pre-
pared to reduce it to sixpence. This is a concession un-
doubtedly, but it would be better far to extinguish it en-
tirely, as the sixpence will keep up the troublesome machinery
by which. the present duties are collected. The halfpenny
stamp draty on the supplements to newspapers is to be
abolished..

Mr. Gladstone proposes to impose one tax, which will moet
with great. opposition from the landed interest. We allude to
a legacy duty on all real estates. This is a righteous tax, if
any tax can be said to be so. But it will not on that account
have to encounter one whit the less hostility from those on
whom it is to be imposed.
The grl uid conclusions to which the Chancellor of the Ex-
chequer comes, are, that in 1860, when his financial plans
have comes into full operation, they will produce an amount of
revenue v rhich will exceed the expenditure by 5,959,0001.
a surplus which will enable, should he be so disposed, the
Chancellor of the Exchequer of that day to dispense with the
income talc altogether.

The Bu dget of the Right Hon. Gentleman is, it will be seen
from the glance we have given at its leading features, a cum-
brous and_ complicated affair. And on that very account,
were there. no other objections to it, it is not likely to meet
with the approval of the country.

!SPORTING INTELLIGENCE.

SPORTING NOTES.—No. CCCCXIII.

,k*BY ELECTRIC TELEGRAPH.)

YORK, TUESDAY MORNING.—The Craven Stakes, run
at 3 p.m.,.. will have Hunca Munca and Audubon in the
first and :second places. Zetland Stakes—Ruby not ar-
rived ; Wild Huntsman and Horatio the probable first
and second. The Flying Dutchman's Handicap—Talfourd
certain to. be first or second ; Osborne's nag very handy.
Champion Handicap Hungerford or Sir Rowland
Trenchard.
The E glinton Stakes, to-morrow, is booked to Vin-
dex. The Londesborough Cup seems to be a good
thing for Agnes Wickfield or Haricot ; only half-a-dozen
are expected to run.

THE SPIRIT OF THE TURF.

TATTERSALL'S-MONDAY.

A comparatively thin attendance, and very little betting,
the chief business being the settlement of the accounts con-
nected with the late Craven meeting. Two or three move-
ments, however, in reference to coming events, had a
striking significancy.
For the Two THOUSAND, West Australian was in so
much in fitvour, that 2 to 1 and 7 to 4 were taken to some
money. Orinoco had also several friends, and was backed
freely at 3 -to 1 and 7to 2. Sittingbourne, meanwhile,
was under strong suspicion; at first 1,000 to 200 was
booked, but afterwards 10 to 1 went begging. In the
course of tate morning, in the City, 100 to 6 was laid against
him.

THE DEBBY.—Some ups and downs amongst the
favourites had their usual mystifying effect. West Aus-
tralian had a strong upward tendency ; the last bet taken
about him was 700 to 100. In Honey-wood's position there
was a marked improvement, 8 to 1 being taken about him.
Sittingbourne, for this event as well as for the Two Thou-
sand, was quite out of favour ; 20 to 1 was offered, but at
the Club as much as 30 to 1 was laid. Orestes, Orinoco
and Brocket were " looking up " in good quarters. The
Reiver's friends were somewhat cheered by his return to
Loco to 30, and, notwithstanding the powerful opposition
which had been arrayed against Cineas in the City and
at the Club, 5,000 to 200 was taken about him, and to-
wards the close, 20 to 1 to 50/., odds which were after-
wards currently offered,
The prices at the conclusion of business were as follows :
THE FLYING DUTCHMAN'S HANDICAP.
7to 4 agst Talfourd (taken).
4to 1 agst Grapeshot (taken).
TWO THOUSAND GUINEAS STARES.
7to 4 agst West Australian (taken).
7 to 2 agst Oronoco (taken).
8 to 1 agst Barbatus (taken).
10 to 1 agst Sittingbourne (taken).
ONE THOUSAND GUINEAS STAKES.
sto 2 Sylphine (taken and offered).
4to 1 agst Comfit (taken and offered).
6to 1 agst Vaultress (taken and offered).

CHESTER CIIP.
10 to 1 agat Lady Evelyn
25 to 1 agst Richmond (taken to 501.).
25 to 1 agat Peggy (taken).
30 to 1 agst St. Michael (taken).
40 to 1 agst Friday (taken).
40 to 1 agst Indian Warrior (taken).
50 to 1 agst The Sutler (taken).

DERBY.
7to 1 agst West Australian (taken).
Bto 1 agst Honeywood (taken).
10 to 1 agst Orestes (taken).
13 to 1 agst Pharos.
20 to 1 agst Orinoco (taken).
20 to 1 agst Sittingbourne (offered).
20 to 1 agst Umbriel (offered).
20 to 1 agst Cineas (taken and offered).
25 to 1 agst Filbert.
1000 to 25 agst Barbatus (taken).
1000 to 30 agst Brocket (taken).
1000 to 30 agst The Reiver (offered).
1000 to 30 agst Cheddar (offered).

COVENTRY RACES-MONDAY.

SELLING STAKES.

Fawn
Eccentricity

Five ran.

COVENTRY HANDICAP.

Sleeping Partner
Jack Leming

Six ran.

STEEPLECHASE.

Gulnare
Thurgarton

..............................
Seven ran.

SELLING STEEPLECHASE.

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