The Sun.
London, England, 1847-02-23 00:00:00

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LONDON, TUESDAY, FEBRUARY 23, 1847.

The House of Lords met at Five.
The Brewing from Sugar Bill was road a third time
and passed.

The third reading of the Poor Relief (Ireland) Bill
was, after a short discussion, adjourned till to-morrow,
(this day), after which their Lordships adjourned.

At ten minutes to six o'clock, the House of Commons

resolved itself into a Committee of Ways and Means.

The CHANCELLOR of the EXCHEQUER then rose
to make the financial statement for the year, and
claimed the indulgence of the House while be
made the statement, which he would make as short as
was consistent with clearness. It was many years since a
Chancellor of the Exchequer had to report such heavy
demands upon the Exchequer, but those demands were
occasioned by the dearth of food, which was a visitation

of PROVIDENCE. Thousands of starving persons in Ire-
land appealed to this country for sympathy and assis-
tance, and that he could not refuse. Never, however
had the finances of the country Eeing so able to
bear these demands. For the first time there
had been no deficiency bills, and the produce of
the revenue had been sufficient to defray the expenses
of the State. In the Customs, the produce of evezy
article for the last nine months, had, with the exception
of articles on which duties bad been reduced,
exceeded the estimate. In the Excise, with
the exception of soap, the same had taken
place. By the return of the revenue ending 13th
February last, he found an increase of nearly half a mil-

lion. But it was not to be expected that such a
state of things would continue, and aftar the unexampled
prosperity of the last two years ho thought they were on
the verge of a check. He, however, saw no symptoms
of a revulsion, but he merely feered a check, for he
thought commercial matters were on a sound basis, rad
he considered that the measures for regulating the
currency, which, had been passed two years since by Sir
R. PEEL, had tended to prevent such a revulsion, by
placing the currency on a sounder basis, and by inducing

investments in works at home instead of iu Mississippi
stock or Pennsylvanian Bonds. He thought, therefore,
that no revulsion would follow, but still the high price
of food would tell in the diminution of comforts and the
diminution of the consumption of articles of luxury.
which were subject to Excise duties. The whole pro-
duce of Customs and Excise for the last year was
34,500,070/.; of this 5,530,0001. was contributed
by articles of food, 21,781,000/. of drink, and by
tobacco, 4,336,000 L; making 31,653,000/. out of
34,500,070/. This must have diminished ,in con-
sequence of the diminution of employment in
the manufacturing districts. .On the 9th of Ja.nuary,
there wore working full time 25,845 persons; short time,
11,851 ; and without work, in consequence of the stop-
page of mills, 1,690. On the 9th February, there were
working full time 22,949 persons ; short time, 15,862 ;
and out of work, 2,613. The drain of bullion on the

Bank had not been so great as might have been ex-
pected. The amount of bullion was only 1,200,000!.
less than it was this time twelve months. The lata
CHANCELLOR Of the EXCHEQUER had calculated upon
a surplus of 776,0001., the actual surplus was 2,846,0001.
including 304,000 k paid as duty on the import of
foreign sugar. He now would state what the probable
income of the year, from sth April, 1846, to sth Avt:l,
1847, would be. Last year the duties on corn produced
793,000/. He could not calculate upon such an amount,
still he calculated on some revenue from this source.
There had been an increase on the importation of butter,
cheese, and silk last year, consequent upon the reduction
of duty, and he calculated that this increase would con-
tinue, and he assumed that the probable revenue from
Customs during the next year would be 20,000,000/.
During the present quarter the increase of Customs
duties had been 204,000/. Up to January
the amount of Excise duties had been
13,988,0001., and he reckoned for the ensuing year
an increase of 13,700,0001. The increase on the Excise
from the beginning of the quarter had been 106,0001,
and in Ireland, extending to January, there had
been an , increase. He anticipated from Stamps
a revenue of 7,500,000/., from Taxes 4,270,000/.
from Property-tax 5,390,000/., from the Post-
office 845,0001., from; Crown Lands, 120,0001.
from miscellaneous sources of revenue 427,000/.; mek'ng
a total of ordinary revenue of 52,065,000/. The ex-
penses of the interest of the debt and the Consolidated
Fund would be 30,735,0001.; for the army, 6,840,0741.;
The Navy vote would be 7,561,000/. ; the Ordnance votetyheear N
would be. 2,679,127/, being an increase of 135,568/. over
the vote of last
I
as in the case of
greataavy
awasst
year.due,
The residue was '
to a deferred
and to putting theowingportgto. an increase of I,2oo.trcu
miscellaneous votes, excluisi:nreette of
as state of defence. I.le
ofvotes for Ireland, would
be 3,750,000 L, being an n
397,0001.
The in-3
of crease was owing to the expanse
the Poor-law Awl