The Sun.
London, England, 1854-04-06 00:00:00

where can we recognise any wilful perversion of
the facts such as might arise from cooked statistics
or plausible prevarication. " I wished," says the I
writer, immediately after the remark just quoted,
" as far as was in my power to throw light on this
highly interesting subject." Highly interesting
the subject undoubtedly is—affecting as it does,
at the present moment, not merely the stability
of the Austrian Empire directly, but indirectly
also the balance of probabilities in favour of one
or other of the two great opposing forces
about to contest the superiority of Northern
Barbarism, or of Western Civilisation. Light,
moreover, the pamphlet before us has indisputably
thrown upon that curious problem—as any one
may readily perceive who enters without preju-
dice upon the labour of minute investigation.
The precise character of the problem to be
solved is, as to how it possibly can come to pass
that a great State like that of Austria—a State
gifted with enormous powers of productiveness,
both of soil and industry—labours, nevertheless,
under a deficit in its finances, and under an ex-
cess of paper money in its currency.
Nearly one decade from the present time the
novel luxury of a surplus was undoubtedly en-
joyed for once by the Viennese Government.
For, in 1845, while the national receipts of
Austria amounted to 160,566, 323 florins, her
expenditure did not exceed 152,954,867 florins
in the aggregate-w-leaving a surplus, of course,
of no less than 7,611,456 florins. That was in
1845, remember. In 1846 the surplus had shrunk
to one of only 1,130,493 florins, for although in
the meantime the receipts had improved by nearly
four millions, the expenses had become aug-
mented by more than ten millions—the latter
amounting altogether to 163,106, 265 florins,
ind the former to 164,236,758 florins. How-
ever, in regard to this year (1846), it
must not be forgotten that about the close
of February there occurred the Cracow-enterprise
andtheGalicia-rebellion. By the termination
of the next financial year, that of 1847, the sur-
plus, however, had altogether disappeared. In-
stead of a surplus there was a deficit—and a
deficit, too, of as much as 7,060,334 florins, of
I course to be covered by credit operations. This
diminution of the finances by the excess of an
expenditure of 168,798,485 florins over the
receipts, amounting to no more than 161,738,151
florins—and the consequent deterioration of the
currency through the increase of the funded debt
by the raising of a loan, and of the floating debt
by the issue of Central-Kassenanweisungen—
must be attributed naturally enough to the
high price of corn consequent on a bad har-
vest, producing a diminution in the Excise,
together with a fall in the Lotto-dues and
in the proceeds of the State-property—these
misfortunes, coupled with an increase of the army
expenses in 1847, to 64,238,766 florins, chiefly
by reason of the agitation in Italy on account of
the affair at Ferrara. The revolution of 1848
brought a deficit of 45,110,646 florins, and that
of 1849 one of actually 121,905,804 florins in
the Austrian Finances—both deficits, of course,
as usual, requiring to be covered by credit
operations. By the end of 1850 the deficit
was less than that of the preceding year
(1849) by 67,040,942 florins, amounting, in fact,
to 54,864,862 florins altogether. The deficit of
11851, however, being increased by 7,358,768 be-
yond that of 1850, amounted to no less than
62,223,630 florins. While that of 1852 was
53,447,331 florins—less than that of 1851 by
8,776,299 florins, thanthat of 1850 by 1,417,531
florins, than that of 1849 by 68,458,503 florins
—but no more requiring in 1852 to be covered
by a new issue of state paper money! A very
important and a very substantial amelioration.
Having observed the reality and the magnitude
of the deficit existing, ever since 1845-1846, in
the Austrian Finances, and having marked also
the deterioration of the national currency conse-
quent upon that deficit, a deficit ever fluctuating,
but always (since 1846) considerable—it becomes
necessary to discover, if possible, the origin of its
existence in an empire so manifestly prolific in all
the sources of wealth as that ruled by the
HAPSBURG dynasty, and guided by the Bum, Ad-
ministration. _
As affording us appreciable assistance towards
this end, towards the attainment of this really de-
sirable object, it cannot, we conceive, be deemed
altogether idle to revert, at a fitting opportunity,
to the arguments of our anonymous Leipzic
pamphleteer.

* "The Present State of the Finances and Currency
in Austria. By an Impartial Observer. Bvo., pp. 64."
Leipzic : Armbruster. London : Dulau ; Lumley ;
Nutt ; Routledge. 1853.

The Revenue Returns have just appeared,
showing the receipts from the different sources of
national income up to yesterday, the close of the
financial year ; and, according to custom, drawing
comparisons between the past and the preceding
twelvemonth, and the quarter just ended with
that of the corresponding one of 1853. Never,
perhaps, were the figures which afforded the best
evidence of the financial position of the country
more anxiously looked for than on the present
occasion. It is true that the Chancellor of the
Exchequer, on opening his Budget a month
since, had tolerably clearly indicated the nature
of the present revelation—acting on the know-
ledge of what had taken place during two
of the three months, and close estimates of the
probable results of the portion then unexpired.
But the people wished to see the figures them-
selves, about which there could be no mistake,
and which would at once place the fiscal resources
of the country in a light by which they might be
accurately examined. Tiiis examination, at all
times interesting and important, becomes doubly
so when war has just been proclaimed—a war of
which it is impossible to predict the duration, or
to calculate the cost with the slightest pretensions
to accuracy.
Well, the figures have appeared—are in the
hands of the public—and every person has the
opportunity of forming his own judgment, as-
sisted possibly by the observations and
comments of his favourite journal. The
ABERDEEN organ tells us that they are " very fa-
vourable." We regret to say, however, that we
cannot altogether coincide with that view of the
subject. That they exhibit most unmistakeable
evidence of past prosperity is certain, but unfor-
tunately it is "past," and we find that the tide
turned in October ; and that, though the large
income
realised from April to October places the
year's
revenue at a high figure, there have been
deplorable deficiencies during the two last quar-
ters, save where fresh taxes have been imposed or
new contributors compelled to furnish their quota.
On the year we find an increase under almost
every head. On the quarter, unfortunately (as
well as on the last quarter), also a decrease is the
rule, while any improvement is the exception.
We cannot, therefore, exult in what we had in
bygone times, when our palmy days have de-
parted, and we are thinking rather of what we
have been than what we are.

On the year, then, as we have stated, the re-
turns are highly favourable. There is a gross
increase of income of 1,485,0861., and this not-
withstanding the reductions that have taken place
in many departments. In the Customs the im-
provement amounts to 358,1481., in the Excise
to 88,3741., Stamps 65,9131., Taxes 47,4301.,
Property Tax 382, 634/. , Post-office 59,0001.,
Crown Lands 143,8881., Imprest and other
moneys 219,5911., and Repayments of Advances
224,053/., while the solitary instance of defi-
ciency occurs to the amount of 103,9701. under
the not very important item, Miscellaneous. If
we could, here, wo might safely congratulate
the country on its brilliant position. But it would
be very unfair to do so, and lending ourselves
to what would be neither more nor less than a
deception on the community. If we are asked to
give credit to a person, we look rather to what
he has than what he had. He might have been
perfectly solvent, nay wealthy, six months, and
unable to obtain a single shilling's worth without
the money down. We might sympathise with
him for his lost prosperity, but we would not
trust him in business a bit the more. We must,
therefore, look to the later accounts, in order to