The Sun.
London, England, 1854-03-06 00:00:00

but it bad, in point of fact, only reached 51,171, 000/.,
so that while in the receipts there had been
an increase over the estimate of 1,035,0001.,
there had been a saving in expenditure of 1,012,0001.
(Cheers.) He calculated, therefore, that this ear there
would be a surplus of income over expenditure amount.
ing to 2,854,0001. (Cheers.) The changes which had
been made in the Customs, he was happy to say, had
worked most satisfactorily; while, with regard to stamps,
instead of the adoption of the penny stamp in all cases
having resulted in a loss to the Exchequer, it had actu-
ally increased the receipts under this head by 36,0001.
(Cheers.) By the extension of the income tax to Ire-
land, it was estimated that an addition would be made
to the revenue of 460,000/. ; the actual receipt from
this source had been 480,0001. (Loud cheers.)
The extension of the income tax to incomes of 1001.
a year was estimated to produce 150,0001., it had actu-
ally reached 250,0001. The change in the duty on
Scotch spirit% which was estimated to produce 278,000/.,
had only yielded 209,0001. ; while the same increase in
the case of Ireland, which was estimate.l at 198,00(11.,
had produced no less than 213,0001. (Cheers.)
This statement was based upon an actual experience of
11 months, and an estimate of one month. (Hear.) So
much, then, for the past ; and now he had to state the
estimates and views of the Government with regard to
the future. (Hear, hear.) The following, then, was the
probable estimate of the revenue for the year 1854,1855 :
INCOME.
Customs £20,175,000

Excise

14,595,000

Stamps
Taxes

7,090,000
3,015.000

Income-tax 6,275.000

Post-office 1,200,000
Crown Lands 259,000
Old stores
Miscellaneous

Total income
The expenditure of the year 1854-55 was estimated as
follows :

EXPENDITURE
Funded Debt £27,000,000

Unfunded Debt ..

546,000

Consolidated Fund 2,460,000
Army
Navy
Ordnance
Commissariat 645,000

Miscellaneous Estimates
Militia

• 4,775,000
. 530,000

Packet Service .
Eastern Service.

792,000
1,250,000

Total Expenditure 56,189,000
The house would perceive that the army for the East,
which would number 25,000 men, would cost 1,250,000/ ,
and that upon the whole calculation 3 of estimate
and expenditure, there was a deficiency of no less
than 2,840,0001. (Hear, hear.) Had there been no
eastern war to provide for, there would have been a sur-
plus of 1,666,0001., but as matters now stood, the question
for the house now to decide was, how should this increased
expenditure be provided for it. The Government was
not prepared, nor, did he believe the house was ready
to acquiesce in a proposal to retrace the steps
which had been taken with regard to the repeal of
Customs duties and the removal of indirect taxa-
tion, but though that course was not advisablu
at the present moment, the country must yet not sup-
pose that there would be no return to a
,system of indi-
rect taxation in the event of the war continuing for a
lengthened period. (Hear, hear.) It was enough, how-
ever, for the country and the house to know that, under
existing circumstances, it would not be wise to provide
fur the immediate wants of the country by reverting to
taxes which had only recently been wholly abolished
or partially reduced. (Cheers.) At the same time, to
resort to a loan, and to charge the war upon posterity
in behalf of the public, was not worthy of the occasion,
nor was it called for by the necessities of the moment—
(cheers)—and, therefore, putting a stout heart upon the
matter, it was proposed for this year, at least, only to
make additions to the direct taxation of the country.
Such a course would be a deception of the people who wanted
to know the price they were called upon to pay for the exi-
gencies of the moment. It was, in point of fact, by these
means the people would be brought to fix their eyes upon
the necessities of the war, and bring an honourable peace.
Having brought the subject to this point, there cannot
be much doubt what the Government will pro-
pose—(loud laughter) —or the committee agree to.
In referring last April to the subject of taxation in the
way of income, he had not a shade of doubt as to
the speedy arrival of the time when he could
put that in force. 6,275,0001. was the estimate
he had taken for next year. He proposed to
increase the income tax by one-half,• an I levy the
whole merely for half a year ; in other words,
that they should double the income tax for half a
year. (Sensation.) It was impossible to estimate the
cost of warlike operations if they continued, and he
could not guarantee that the funds they now
asked for would he sufficient for more than twelve
months. The levying of direct taxation was al-
ways from six to nine months in arrear of the time
when the tax began to be chargeable. It was, therefore,
only by levying the taxon the first half-year that they could
levy it within the year. If he proposed an increase of
the tax for the whole year, it was possible they might
levy money which they might never require—therefore it
was much the simplest course that the proposal ho made i
should take the form which he now proposed—namely,
for the half year. Irrespective of any change of the law,
the income-tax from April 1854 to 1855 would amount
to 6,275,0001., and the moiety of that would be
3,307,000/. If they added that to the 6,275,0001.,
it made 9,587,0001. The total income of
the year he calculated at 56,656,0001., and the
expenditure at 56,189,0001., so that there would be, by
way of provision for the service of the year, about 467,000/.
With regard to stamps chargeable on bills of exchange,
he thought it fit up to the present time to exempt bills
drawn abroad from discount, and to lay on a tax on those
drawn at home. But he thought this law was evaded
by dishonest persons bringing bills from abroad to have
drawn, and those bills came into the hands of per-
sons who could not know anything of them—(hear),-
tuerefore
the proposal he intended to make was this—
he proposed to adopt an ad valorem, scale at
the rate of 3d. for each 251. ; he proposed
to carry this scheme upwards to 5,000/. ;
he proposed to abolish altogether the distinction that
now existed between home-drawn arid foreign:drawn bills,
and make them all pay the income-tax. He proposed
also to do away with impressing those bills. (Hear,
hear.) Every exertion would be made to expedite the
process of die sinking, &c., but he did not expect
that it would be in operation before the sth July next.
The average rate of the present duty was lOs. 6d. per
cent., and he now proposed to reduce it to lOs., and
that would give a revenue of 434,0001.
[LEFT SPEAKING.]

[A. late edition of The Sun will be published, contain-
ing the conclusion of the Chancellor of the Exchequer's
speech.]

TH PRESTON STRIKE.

N.
It is stated that tPh eR aEgSern s No' of St
enansps oAcYi a tEVEed raNsGt r s
(who have been despatched to almost all parts of the
kingdom) have already entered into contracts with some
hundreds of people, to whom constant work is guaran-
teed for at least 12 months. Many young persons are
to be brought here, and instructed in the various branches
of the cotton trade. Detachments of the strangers are
coming every day. The police force and fire brigade,
and frequently several magistrates and other local autho-
rities, attend at the railway station to escort the new
hands from the platform to the omnibuses and cabs en-
gaged to convey them to their destination. To provide
for the accommodation of a portion of these people, the
associated masters have taken and fitted up a commodious
building, formerly the Bolton railway station, situated in
Fishergate, the chief thoroughfare of the town, and with-
in about 200 yards of the London and North Western
Company's station. The millowners, I understand, are also
renting cottages adjacent to their works, and furnishing
them for their new hands. It is even alleged that bed-
ding has been carried into some of the mills, or out-
buildings connected with them, for the accommodation
of the strangers. The importation of these people (most
of whom appear to be Irish) has produced unusual ex-
citement, though only on one occasion has a serious
breach of the ,peace been committed. This was on
Thursday night. A number of persons, many of them
children, arrived from the north about 8 o'clock, and
were transferred to an omnibus, three cabs, and a
Whitechapel, to be conveyed to the mill of Messrs.
Leigh. A crowd collected ; cries of "Turn them out"
arose ; first mud and then stones were thrown at the
conveyances, the windows of which were broken, and a
child was struck on the forehead. Seven policemen
were despatched to the scene of action 'in a carriage,
which was also assailed with a shower of stones. The
disturbance was soon quelled. Two youths, who were
captured on the spot, have been committed for trial at
the ensuing Liverpool Assizes.
Yesterday :itteinoon about 50 Hibernians, of all ages,
arrived aethe Mandland Railway Station from Belfast
via Fleetwood. They presented a miserable spectacle ?
nearly the whole of them were destitute of shoes and
stockings ; few of the females had bonnets, and some
appeared in night-caps. Many of them, it was said,
were from the union workhouse at Belfast. They were
received by detachments of the police and fire-brigade ;
the mayor and two other magistrates being also present.
A large concourse of people having congregated in the
visinity of the railway, the authorities deemed it expe-
dient to read the Riot Act. As may be supposed, some
excitement existed, but, so far as I could ascertain, no
violence was threatened. After the reading of the Act
the police cleared a road for the vehicles employed to
remove the strangers, and they proceeded without ob-
struction to the works of Messrs. Birley Brothers. Other
Strangers continue to arrive daily.