The Sun.
London, England, 1854-01-06 00:00:00

LIFE DEPARTMENT.

BONUSES—EIGIITY PER CENT. of the Profits apportioned to
the Assured triennially, after the first five years, and applicable as
may be preferred at the time of each valuation.
No charge whatever for Stamps or Policies.
FIRE DEPARTMENT.

BONUSES—FIFTY PER CENT. of the Profits apportioned to
the Assured annually, on Policies of three years' standing, an advan-
tage offered by few offices.
The first year's Fire Duty, payable to Government, amounts to
the unprecedented sum of 11,3911/., and the first year's Bonus and
Reserve Fund to near 8,0001.
Notice.—Persons insured with this office whose Policies expire at
Michaelmas are respectfully reminded that they should be renewed
within fifteen days from that period; and those who desire to avail
themselves of the advantages and security of the Lancashire Insur-
ance Company, incur no extra expense by the transfer of their
Policies.

JAMES NORTLIC OTT, Secretary to the London Board.

( From the Times.)

THE QUARTER'S REVENUE.

The Financial Quarter just come to an end is
the first which exhibits, without any considerable
drawback, the full effect of the recent remissions of
taxes. As those remissions were estimated alto-
gether at more than two millions, a quarter of that
sum might reasonably be assigned to last Quarter.
The actual result, however, is of a more promising
character. In the Quarter's Customs, as compared
with those of the Quarter ending January 5, 1853,
the decrease is not more than 95,8001., though
the taxes on tea, sugar, and several hundred less
important articles have been meanwhile reduced.
The Quarter's Excise, notwithstanding the aboli-
tion of the duty on soap, the loss of which fell very
largely on the winter quarter, shows a decrease of
not more than 113,9701. The very liberal altera-
tions of the Stamp Duties, and the very tedious
system of replacement provided by the Succession
Duties, prepared the public for a greater decrease
on this head than what has actually occurred,
viz., 75,1011. In Assessed Taxes again there have
been extensive remissions, and the decrease is
only 17,183/. In the Property Tax there is a de-
crease of 53,530/. In the Post-office it is gratify-
ing to find an increase of 63,000/. The total
ordinary revenue exhibits a net decrease of
299,297/. ; which, on taking into account imprest
and other moneys, and the repayment of ad-
vances, is reduced to 293,0511. As there are
politicians who, when it suits them, can think
it quite possible to remit very productive
taxes, without leaving a void in the revenue,
we are quite prepared to find this insignificant
decrease hailed as an opportune reverse. The an-
swer is, that it is considerably less than was anti-
cipated by the Chancellor of the Exchequer on the
proposition of his budget, and this at a time when
the immediate prospect of war, a bad harvest, and
a system of obstinate and wrong-headed " strikes "
have operated most injuriously on the enterprise,
enjoyment, and expenditure of the people.
As the return for the twelvemonth just ended
comprehends three other Quarters, either previous
to the recent reductions, or before they had come
into full play, it exhibits an increase under most
heads; on Customs, 282,8411. ; on Excise, 272,122/. ;
and on Stamps, 213,7271. In Assessed Taxes,
which have lately been affected many ways, there
is a decrease of 223,9751. ; and in the Property Tax
an increase of 50,559/. In the total ordinary re-
venue of the whole year the increase is 702,8081.,
which, by taking into account the very large in-
crease in the imprest and other moneys and repayment
of advances, becomes a total increase of 1,315,925/.
That this annual increase is likely to be sustained, or
can be sustained, so long as the comparison of year
with year is disturbed by large financial sacrifices,
is more than it would be reasonable to expect; but
no one can doubt, from the table before us, that
the public finances, dependent as they are on the
prosperity of the country, are in a very buoyant
state.

It is impossible to forget at this juncture that
the very great fact before us, an increase of nearly
a million and a-half on the year's revenue, may
possibly be the last of its kind for many years, and
that the year 1854 may be unfortunately remark-
able in the annals of finance as the end of a long
peace, marked by continual reductions of taxes and
increasing prosperity. Should the ambition and
obstinacy of Russia drag us into a war, that war
must be carried on with the whole might of this
empire, and it will be necessary at once to provide
for our increased expenditure by new taxes, or an
increase of those now existing. It is true that we
are better prepared than we ever were before, and
that we should not go to work in the same waste-
ful manner we did in the last war ; but fleets and
armies cannot be provided without money, and it
will be the best economy, iu the long run, to put
forth our strength on the outset, and, if possible,
bring the contest. to a speedy and honourable close.
Be the struggle short or long, it will inevitably
throw back our finances, and prevent us from con-
gratulatino, our readers, as we have done quarter
after quarter and year after year, upon the still
flourishing state of our revenue, in spite of the
continual closing of its sources. Should the cause
of public justice, however, and of national honour
compel the sacrifice, it will he made cheerfully, and
no true British heart will repine for a moment at
our exchanging
an overflowing exchequer for em-
lbarrassment and debt. We boast to be the bul-
wark of liberty in the world, and we also regard
with not less complacency the fact that we are the
richest of nations. That boast must be maintained
and justified by means of those riches which it
would ill become us to grudge in such a cause.
Let it be known that such
is our resolution, Wand
it will have due weight in the vast, servile, poverty-
stricken region that threatens the liberties of
Europe by mere force of numbers and barbarism.

( From the Miming Herald. )
From the boastful tone of the Ministerial jour-
nals during the last two or three days, we were led
to expect a very different report of the Quarter's
Revenue from that which We have now to present We certainly
to our readers. understood, from
certain semi-official predictions, that we were to
find nothing but an unbroken Belies of financial
triumphs and successes. The fact, however, turns
out far differently. With the single exception of
the Post-office, every department of the State re-
ports a diminution in its receipts ; and we have no
doubt that if the cause of that single exception
were to be inquired into, it would prove to be
postponement of some
merely a
a real advance of the actual Post-office revenues.
For the rest, the falling off is as follows :
On the Customs -- ••• ... £ 96,806
. „ Excise ••• ••• ... 113,970
If Stamps '•• ••' ' . ... 75,101
~ Taxes ••• ••• ... 17,183
~ Property Tax ••• ... 53,350
~ Miscellaneous • ... 5,887

Odin .

£362,297
Increase on Post-offices ...
... 63,000

Net decrease £299,297
This startling view of
our finances exactly con-
firms the statement we made Only two or three days
since, that the spring and summer of the past year
had been periods of unusual enterprise and specu-
lation, making all things appear prosperous, aid
naturally replenishing the Treasury ; but that we
had now entered on a period of collapse, which,
whether peace or war occurred, would greatly di-
minish the Chancellor of the Exchequer's resources
for the year now opening. The present revenue
return shows how fully we were justified in this
observation.
be charged, as we were
Perhaps we shall again
charged in the Times on Tuesday last, with furnish-
ing our foreign foes—if such there be--with encou-
ragements and with an unfavourable view of Eng-

Guns.
Royal Albert
Marlborough
Conqueror
Orion
Repulse
Hannibal
Algiers 9O
Exmouth ... 9O
Hero 9O
Forte 5O
Chesapeake
Curacoa
San Fiorenzo

The Amount issued in the, Quarter ended Jan 5, 1854, in part of Sums granted by Parliament out of the
Consolidated Fund for Supply Services •• • ......... •• •• . • • ... • • .. .
Deficiency

The probable Amount of Exchequer Bills required to meet the Charge on the Consolidated Fund, en sth Jan., 1854

land's position. But is any one so weak as to
imagine that foreign powers gain their knowledge
of the facts of the case from the leading articles of
either the Times oar the Morning Herald ? When
we blamed the Glo be for calling 1853 " a good year,"
although it had brought us a famine, a pestilence,
and probably a war also, could any sane person be-
lieve that we were, informing Russia and Austria of
any facts which tbLey did not already know ? Was
it any secret that wheat was 725. per quarter in our
markets ? Had it, been hitherto unknown that in
October the chol€ira was slaying, in London, its
hundred per week Or could any one be ignorant
that a general war was at least a not improbable
occurrence ? And so, in like manner, whether we
make the natural remarks on the quarter's revenue
which we have just penned, or are wholly silent,
will any statesman, in Europe be ignorant of the
fact, in the course ,of next week, that our national
revenue is already declining, and seems likely to
decline still further ? We have hazarded no rash
or doubtful statements ; and when we simply de-
scribe things as they are, we repel the charge that
we are holding out encouragement to our country's
enemies.

EFFECTIVE NAVAL FORCE OF BRITAIN.

Er From the Times. )
In the present state of affairs abroad it becomes
a matter of general interest to the people of this
country to ascertain, as far as possible, the condi-
tion of the effective naval forces at our disposal ;
and, from the in creased activity which has been
visible for some time past in the dockyards, we
have no doubt the it the Admiralty will be prepared
to meet with the utmost promptitude all the de-
mands which may be made upon the service. We
understand that it is the intention of the Govern-
ment to raise the number of seamen and marines
for the current year to 53,500 men, which is an in-
crease of about 8,000 on the number voted for last
year, and a furen.er addition to the 5,000 men
raised under the orders of Lord Derby's Admini-
stration. The tot al increase in the navy since 1852
may therefore be stated at 13,000 men. Of the
force now to be raised for the service of the fleet
38,000 will be sea men and boys, and 15,500 ma-
rines. The unabated demand for ships and sea-
men in the merchant service, which is attribut-
able to the extraordinary increase of our exports
and imports, may render it a work of some diffi-
culty summarily to xaise so large an additional force,
but, on the other hand, the improved condition of
the seaman under -the last regulations of the navy,
the chance of pri3e money, and the call of the
country are additional inducements to volunteer
for the service. A large proportion of our sea-
faring men are always abroad, and probably not
more than 20,000 seamen, except those serving in
the navy, are at any one moment in England.
Some time must thereforeelapsebefore the demands
of the service are kiaDwn to the class of men whom
they most concern ; but the manner in which 5,000
additional seamen have been raised in the past
year, without any extraordinary stimulus, warrants
the belief that the sailors of England will not be
wanting to the flag of their conntry.
The present moment is remarkable for other
reasons in the annals of the naval service, since it
is destined to witness the transformation of the
fleet into a steam navy. No one of the tens of
thousands who were present at the naval review at
Spithead in August last could doubt the expe-
diency and necessity of the application of steam
power to the largest ships. Already on that oc-
casion a considerable squadron of line-of-battle
ships moved by screw propellers was collected ;
but this force has since been largely increased, and
our readers will peruse with interest a list of the
line-of-battle ships and frigates now afloat and
moved by this powerful mechanism :

Guns. H.p.
Duke of Wellington 131 700 Western Squadron.
Royal George
St Jean d'Acre
Agamemnon 9l 600 Bosphorus.
Ca;sar 9O 400 Not in commission.
Cressy
James Watt 9O 600 Not in commission.
__ .

Majestic
Nile
Princess Royal
Sanspareil ' 7O 350 Bosphorus.
Ajax
Blenheim 6O 450 Guardship (Portsmouth).
Hogue
Edinburgh
Arrogant
Imperieuse .. 5O 360 Western Squadron.
Amphion 34 300 Western Squadron.
Horatio 24 250 Guardship (Sheerness).
Tribune 3O 300 Western Squadron.
Dauntless 24 580 Portsmouth.

Highflyerl 2l 250 Mediterranean.
Euryalus 5O 400

The above are all screw steam-ships ; but to
these may be added tho following, among the more
powerful paddle-wheel steamers now afloat :

Guns. H.p.
Terrible 2l 800 Bosphorus.
_ _

Sidon 22 560 Bosphorus.

16 560 Western Squadron.

Retribution 2B 400 Bosphorus.
Valorous
Furious l6 400 Bosphorus.
Leopard . lB 560 Portsmouth.
Magicienne
Penelope

We omit vessels of ,an inferior class, and
those we have named all deserve to be ranked as
powerful frigates.
In addition to these lists, the following screw
steam-ships are building, and will probably be afloat
in a few months : .

Horse Power.
".... 400
600
600
450
450
400
350

It appears from these returns that, setting
aside the whole sailing fleet of England, we
have at present afloat 11 steam little-of-battle
ships, soon to be increased to 20, 5 guard-ships
with auxiliary steam power, and 7 frigates fitted
with screw propellers, which . may be considered
(with one or two exceptions) the finest vessels ever
launched of their class. Of these screw line-of-
battle ships only two (the Sanspareil and the
Agamemnon) are in the Turkish waters, and the
former of these two vessels does not, we fear,
altogether answer to her name. The greater num-
ber of those already in commission belong to Ad-
miral Corry's division, which is termed by the
Admiralty the Western Squadron, though it may
be considered to be on an experimental cruise ; and
four are still waiting for commission. ,so that,