The Sun.
London, England, 1849-07-06 00:00:00

No. IL—lncome and Charge of the Consolidated Fund, in the Quarters ended the sth July, 1848, and the sth July, 1819.

Quarters ended July 5.

CHARGE.

Permanent Debt 04 •• of ea e• ••• •• .• r•
Terminable Annuities
............................................. .. .................
Interest on Exchequer-bills issued to meet the charge on the Consolidated Fund .•...................
Sinking Fund ..... ....... . . - ..... •••••••••• ...... •••• .
The Civil List •• ••••••...................
Other Charges on the Consolidated Fund •• •••• •• •• ••••••• • • • ' • • ........ '• • • .. •.. •• •• •• • ••
•• ••
••
• .......
••
••
••
••
••
••
••
••
••••
For Advances ........ • ....... • ..... ....... • • • • "• •• • • '• • "• " ' • •• '' " • • '• • • '• '• ' • • • • • • • • • • • • •

Total Charge •••• •• • • • .•

The iurplus • • • • • . . • ...• .• • ...

The Amount of Exchequer Bills issued to meet the Charge on the Consol
5, 1849, and paid off out of the growing produce of that Fund for the c
The Amount issued in the Quarter ended July 5, 1849, In part of the
Consolidated Fund, for Supply Services
The Surplus of the Consolidated Fund, Quarter ended July 5, 1849 .....
The probable Amount of Exchequer Bills required to meet the Charge o
ended July 5, 1849 .. .• • . • ••• • • ..... •••••••• • • • • • • • • ...

lidated Fund, for the Quarter ended April
itarter ended July 6, 1849. ...... • • • ..
Sums granted by Parliament out of the

al the Consolidated Fund fur the Quarter

crease being 726,4831.—the darker side of the picture
appears the moment we look at the quarter's account—
on which there is a decrease of 468,5461. But compari-
sons with the last year, we are continually reminded, are
unfair and delusive, inasmuch as the state of the conti-
nent during 1848 very greatly injured trade. Let us
the❑ avoid this, and rather compare the quarter just
closed with the same quarter of 1847, in which period
none of the continenal troubles had broken out. The
comparison between the two quarters--that ending on
July 5, 1847, and that just closed, will exhibit the fol-
lowing results:—

Customs
Excise ...
Stamps ...

1847.
£4,519,119
3,291,052
1,869,464
2,075,801
1,036,517
215,000

1849.
£4,128,777
3,020,602
1,619,697

Taxe; :... ...
Property-tax ...
Post Office ...
Crown Lands ...

2,054,730
1,033,240
196,000
40,000

Miscellaneous ... 7,461 70,140
The result, then, is, that after the complete establish-
ment of the free- trade principle, which, it was pro-
tested to us, would throw all branches of trade into the
greatest activity, we now find that taking the amount of
1847, and comparing it with that of the last quarter,
there is a plain and considerable falling off. On the
Customs we perceive a reduction on the quarter, of
nearly 100,0001. On the Excise, of 270,000/. On
Stamps there is a falling off also of 270,0001. On Pro-
perty Tax, Crown Lands, &c., the reduction is scarcely
perceptible.
POST.—By the official statement of the Revenue, for
the quarter that terminated yesterday, we regret to find
that, compared with the corresponding quarter of last
year, there is a decrease of 468,5461. The main decrease
occurs in the receipts of the Customs and the Excise—
the one being generally considered as indicative of a
falling off in our foreign trade, and the other of dimi-
nished consumption at home. A Ministerial evening
Contemporary attributes the deficit in the Customs to
the loss of the corn duties, and no doubt that circum-
stance has had its effect. Without the advantage of
official inspiration we have ventured for some time past
to; foretel this result, and we did not do so without
pointing out the remedy for the evil. No matter by
what name you may call it, Protection must be re-
enacted. If it be necessary for tender consciences, de-
scribe it as for the purposes of revenue merely; but a
duty on the importation of corn is inevitable. Nor do
we see the difficulty in which her Majesty's present Mi-
nisters would be involved by such a course. They
have on various occasions admitted the principle. Lord
John Russell in his place in Parliament, and Lord Pal-
merston to the electors of Tiverton, expressed their
approval of an eight-shilling duty ; Lord Grey,
though differing slightly from his colleagues to the
amount, equally recognised the principle of an import
duty. The state of the revenue and the interests of native
industry alike point to this course, and we confess we
cannot account for the apparent hesitation in recurring
to it. A measure required by the combined necessities
of the State and of individuals, and sanctioned in com-
mon by the two great political parties in the country, is
surely one which any Government might feel justified in
adopting. And that it will be adopted we have r.o
doubt; but there is no time to be lost. The case is one
of urgency. That, on the year ending on the sth inst.,
there should have been, according to the tables now pub-
lished, an increase, compared with the previous year, of
726,4831., is a fact that in itself shows the advantage
accruing to the revenue from an almost nominal duty on
corn imported. An eight shilling duty would not only
swell the Customs return, but by its salutary effect un
the circumstances of individuals it could not fail also to
remove the deficiency that is now apparent in the income
arising from Excise.

SPORTING INTELLIGENCE.
NEWMARKET JULY MEETING.
BETTING ON WEDNESDAY.
CHESTERFIELD STAKES.
5 to 4 on Cranberry.
GOODWOOD CUP.
9 to 4 agat Canezou I 4to 1 agst The Hero
GOODWOOD STAKES.
12 to 1 agst Maid of Masham 16 to 1 agst Remembrance
.5 to I agst Firo•eater 20 to 1 agat Collingwood
.6 to 1 agst Giselle (taken)

DEBBY.
14 to 1 agst Pitsford (t) 30 to 1 apt Blarney
25 to 1 agst Penang 30 to 1 agst Sweetheart
25 to 1 agst Cyprus (taken) 33 to 1 agst Ghillie Callum
30 to 1 agstJuhno'Groat(t) (taken)

_
DERBY, 1851.
10,000 to 100 each laid agst Ariosto, Ipsus, and Glen.
hawk.

The Earl of Glasgow is the new steward, in the room
of the Earl of Eglinton, whose term expires this meeting.

TUURSDAY.
Handicap Sweepstakes of 15 sous. each, 10 ft. To start
at the starting-post of 8.M., and run to the end of
New T.Y.C. (7 Subs.)
Lord Exeter's Sultana, s yrs, Est 131 b (E. Sharp) I
Lord Clifden's The Widow, aged, 7st 81b ...(Pearl) 2
Mr. Barnes's Little Charley, 3 yrs, sst 71b (G. Mann) 3
Colonel Peel's Taffrail, 4 yrs, 7st 71b (Flatman) 4
Mr. W. Arnull's The Lustrum, 7st 41b (Chapple) 5
Betting-7 to 4 agst Taffrail, 2to 1 agst Little Charley,
and 7 to 2 agst The Widow. The Widow made the run-
ning to the cords, followed by Sultana, Little Charley,
and Taffrail; it was then taken up by Sultana, who won
cleverly by a length. Run in 1 rain. 19 sec.
The Chesterfield Stakes of 30 soya. each, 20 ft, for two
yrs old colts, Bst 71b, and fillies, Bst 41b. Last half
of B.M. (29 Subs.)
Sir J. Hawley's Cranberry (Templeman) 1
Colonel Peel's Sisyphus (Flatman) 2
Lord Exeter's Cora (Bartholomew) 3
. _

Lord Clifden'a Le Beau ...
(Robinson) 0
Mr. Ramsbottom's role
Mr. Tilbury's cby Charles 111. out of Cowslip (Sly) 0
Betting-7 to 4 on Cranberry. Cora took the lead,
and with Sisyphus, Cranberry, the Cowslip colt, and lola
in her track, made strong running to the hill; here she
was joined by Sisyphus and Cranberry, and the trio
raced home together, the favourite winning, by game-
ness, by a short head; a head between second and third;
Le Beau a bad fourth. Run in 53 aces.

Sweepstakes of 10 sovs. each; for three-yr-old colts, Bst
91b; and fillies, Bst 61b. B.M. The winner to be sold
for 3001., if demanded; if entered to be sold for 200 L,
allowed 71b; if for 1001., 151 b. (5 Subs.)
(511 (cL 7at 71b)(Flatmae) 2
), 7st 51b (Rodney) 1
Col. Mr. Peel'sDri k aQI du'isn
iSnues(aino
oLi.77esl It
Lord Exeter's Cond4 (1000, 7st Sib
Capt. Lowtber's Piccola (1001.), 7st 51b (Cbapple) 4
Sir S. Spry's Bastilion (1004 7st 81b (Pearl) 5
Betting-6 to son Quinine. The race was entirely
between the favourite and Susan Lovell, the latter, who
made all the running, winning by a neck. Run in 1 min.
41 secs. _ _

Match, 300, 100 ft, T.Y.C.—Mr. Sandford's Hum-
phrey, Bst 71b, agst Lord Strathmore's Hood, Bst 21b, off
by consent.
Match, 100, h ft, New T.Y.C.—Duke of Bedford's
Newport, 9st 21b; received forfeit from Mr. Gerard
Sturt's Humphrey, 7st 91b.
LATEST BETTING ON THE GOODWOOD CUP.
9 to 4 agst Canezou I 9 to 2 agst Tadmor—tkn
4 to 1 agst Hero—taken I

806,028

4,830,546
5,171,616

341,070

464,955

THE PUBLIC AND LIFE ASSU-
RANCE-EVILS AND REMEDIES.

The growth of life assurance from year to year is a
matter which your true lover of his country must witness
with the utmost gratification. Through its instrumen-
tality, it is hardly necessary to say, an immense amount
of good is accomplished. Whole families, when
the heads of them are laid low, are snatched
from perdition by the timely stretching forth of its
saving hand. Indeed it has become an axiom, that
the man who assures his life does his country a service.
But unless the assured are satisfied,-beyond the shadow
of a doubt, that their policies will be paid to the
uttermost farthing when they have passed away
—unless the parties with whom they enter
into so serious a compact as to provide for
their families when their help is withdrawn, whenever
that event may occur, are honest and solvent—the con-
tract is a " mockery, a delusion, and a snare," in the
widest acceptation of the term. We will go further and
say, if an assurance company, of an excellent plan,
and even with good intentions, but badly or extra-
vagantly managed, deficient in those securities
which are absolutely necessary for the proper
and honourable carrying on of an assurance business
(ready and undoubted means of meeting a maximum of
claims), induces parties to assure with it, it commits an
offence against society which cannot be too severely
reprehended. Tho majority of assurance companies,
more especially the ancient ones, would express the
ntmost horror if it was proposed to let in the
light of day upon their transactions and their
profits—their capital and their dividends. Why is this?
When a man prates about his great success in business,
as these offices do, he is not backward in displaying its
nature and amount, his outlay and his profits.
Scarcely any of these companies will allow a reporter
to attend their meetings; though, in the pursuit
of his vocation, he must report to the world
the success which the dovetailed statements they issue so
loudly proclaim. Suspicion and distrust are ever the
natural and inherent consequences of exclusion. We
therefore distrust these offices, and conclude that there is
something behind the scenes that cannot bear an honest
face to look upon it.

It is said, and there is some force in the statement,
that the proprietors, or members of these corporations,
are the only parties interested, and that none, save them,
should be present. Why deny your shareholders in the
country or abroad the satisfaction of perusing an inde-
pendent report of the proceedings of a concern in which
they have an interest ? But have the general public
no interest in the matter? Before a man assures his lire
he is bound to know the condition of the parties with
whom he may be desirous to make a contract. The
question then arises, whether it does not, in such a
state of things, become the duty of the State to
act paternally over the property of the people
committed to its care. And where so much of
their money is locked up in assurance companies,
has not the State a right to look and see that all is fair ?
The supervision of the State extends to concerns rot
half so important as assurance companies—companies
in which simply the living have an interest; surely the
same principle should in justice be applied to those con-
cerns in which the survivors of the dead—weak, per-
haps, and inexperienced in the ways of the world—
have an interest?

Writing rather to the public, and pointing out the
great benefits of life assurance, and how much it is
the duty of every man to assure his life, than for the
edification of the gentlemen connected with assurance
companies—not being ambitious to become a petty
chatterer of life assurance office gossip, and not
being skilled in the use of the common instruments of
vituperation, it would be foreign to our present purpose
to go into the minute details in our possession, which led
us in our last number to lay down the following query
for solution in this:—" Is it not probable that the pub-
lie will look with distrust upon life assurance,
in consequence of the gross mismanagement of
certain offices, which bring discredit upon others which
are reputable in every respect and worthy of the most un-
bounded confidence?" Indeed it will be sufficient to say
that having ample means of becoming acquainted with
the doings of certain companies, and knowing that the
public were getting acquainted with them, and distrust-
ful—nay more, that companies of the higher class were
likely to be injured by the mismanagement of others,
we have felt called upon, for the honour of Life Assu-
rance, and for the common benefit of all, to demand, in
the name of the public, that all assurance companies
shall be placed under Government supervision, as much
as Joint-Stock or other Banks; that they shall be com-
pelled to publish quarterly statements of their condition,
duly certified; for instance, the number and amount of
their shares, the amount that has been paid upon them,
the number and gross amount of their policies, how
much has been paid upon them, the amount of their
loans, and the nature of their securities, surplus, and re-
serve funds, the claims paid during the quarter, and the
amount of dividend. This may appear offensive to
many of the companies, and we do not imagine that it
would be very palatable, but the majority of them we
know would not object to it. It may be urged with
llogberry, that " comparisons aro odious;" that com-
panies with a small but good business would be thereby
injured, because they would stand in contrast with larger
offices not perhaps realising a very much greater profit
in proportion to their business. The joint-stock com-
panies urged the same argument; but it is obvious that
they have not been injured by the publicity which they
aro compelled to give to their operations. Publicity of
this nature will redound to the credit of your bona fide
offices, whilst, on the other hand, it will crumble into
dust those of an opposite character—your mere " hand
to mouth" societies: we think the cause of providence,
economy, thought, and forecast will be served by their
extinction.
Again, supervision is necessary in order to detect and
expose companies started by mere adventurers. Any
aab siluynr mnt ea ey soas: start
tol informed
fpo assurancerromo ef
d againstup company,ont
h e deceit.lrjanncdSi pultcehhse people
are
things
nlpi gif ees
have occurred, and West Middlesex schemes may be set
on foot again, and life assurance thereby receive a
blow under which it will stagger, and which existing
companies, for their credit's sake, should not be slow to
avoid.— The Reporter for July.

SOUTLI SEA COMPANY.—A general Court was held
yesterday at the South Sea House, Threadneedle-street,
for the purpose of hearing the usual half-yearly account
of the company's affairs. Charles Franks, Esq., sub-
governor, took the chair; and, after a few introductory
remarks, the secretary:read a statement, from which it
appeared that the assets of the company amounted to
818,6771. 12s. Bd., while their liabilities were
791,2941. 2s. 7d., showing a balance in the company's
favour of 27,3834 10s. Id. A further " account of the
clear revenue and profits of the South Sea Company for
the half-year ending the sth of July, 1849, after current
payments for interest and other outgoings, charges, and
expenses are first allowed and deducted (made out pur-
suant to Act 6 Geo. II.), showed that the income
amounted to 156,4291. 7s. 5d., while the outgoings were
91,5111. 9s. 7d., leaving a balance of 64,9171. 17s. 10d.
The half-yeer'sdividend on 3,622,784/. Bs. 6d. South Sea
Stock at 14 per cent. would amount to 64,098/. 14s. 6d.,
which, deducted from the above, would leave a surplus
of 8191. 3s. 4d. The Chairman next proposed a resolu-
tion, which was unanimously adopted, that a dividend of
14 per cent. should be paid to the proprietors for the
half-year ending July 5, 1849, and (there being no more
business to transact) the court broke up.
ROYAL ITALIAN OPERA.—The performance last
night was for the benefit of Signor Mario, upon which
occasion the Huguenots was performed in lieu of La
Donna del Lago, in consequence of the sudden indisposi-
tion of Mr. Sims Reeves, who was advertised to repre-
sent the part of Roderick Dhu. The Huguenots went
off with its accustomed effect, and the encores were as
numerous and rapturous as on former occasions. Mario
and Grisi were in fine voice, and were called before the
curtain amidst the cheers of the house.
SERIOUS ACCIDENT.—Yesterday afternoon, between
one and two o'clock, Miss Amelia Janson, daughter of
Sherstono Janson, Esq., of the Grarge, Hackney-road,
was crossing Bishopsgate-street, opposite the end of
Threadneedle-street, hastening to get out of the way of
the passing vehicles; the pavement, which is of wood,
having been recently watered, was very slippery, and
unfortunately the young lady fell, sustaining a compound
fracture of the right thigh, her right hand being severely
crushed by the wheel of a coal waggon. She was re-
moved to her parents residence she is not expected to
survive the