The Sun.
London, England, 1847-07-06 00:00:00

CHARGE.

Permanent Debt .......... ........
Terminable Annuities ..... ...... • ...........................
Interest on Exchequer-bills issued to meet the charge on the Consolidated Fund .
. . .
...... ..........
..
Other Charges on the Consolidated Fund
For Advances, including 1,724,0001. in the present Quarter to Ireland, per Act 9 and 10 Vic. cap. 107 .........

Total Charge .. ..........

The Surplus ........ •• • • • • •

Amount of Exchequer Billa issued to meet the charge on the Consolidated Fund, April 5, and paid off out of the
produce of that Fund, July 5, 1847, after deducting 550,0001. paid out of the Sinking Fund ............
The Amount issued in the Quarter ended July 5, 1847, in part of the sums granted by Parliament out of the
Consolidated Fund, for Supply Services. • • • • • • • • • • • • • • • • • • •
The Surplus of the Consolidated Fund, Quarter ended sth July, 1847 .......

The probable Amount of Exchequer-bills required to meet the charge
July 5, 1847 ..• ••••••• • • • • • • ..... • • • • . • •

the Consolidated Fund, Quarter ended

contributors, but not Pollux, and there is Harry,
Hieover, too, as smart and:gossiping as ever, and Oxo-
nian and the Old Fly. For its class the Sporting
Review• is meritorious :

5,650,119

618,i586
1,407
595,150
98,004
370,584
91,501

7,425,651
5,785,552

13,211,203

7,113,698
9,233,717

5,744,711
609,120
2,957
691,298
98,243
520,941
1,864,311

9,531,581
9,233,717

18,765,298

2,916,960

2,120,049

796,941

THE QUARTER'S REVENUE.

FROM THE MORNING PAPERS OF THIS DAY.
TIMES.—The Quarterly Return of the Revenue is
very different from an oracle which men visit in dark-
ness and uncertainty, and then expect to be astonished
with an announcement quite new and distinct. It can
do very little more than check or verify estimates which
have already been matters of safe and approximate cal-
culation. Given the former returns, the recent fiscal
alternations, and the state.of public and commercial affairs,
and the problem is easy enough. The next quarter's
revenue follows almost as a matter of course. There is

little in the present return that might not be accounted
for. It has its favourable and its unfavourable features.
On the whole, however, we think that no sifting will
divest it of a rather encouraging appearance. To what-
ever cause it may be traced, the fact of an increasing
revenue—the fact of increase on the ordinary:sources
of revenue amounting to more than two millions and a
half on the year, and nearly half a million on the quarter
—will be hailed with satisfaction at a time when we

have been obliged to add largely to our debt. On the
quarter's Customs there has been a very slight decrease,
which is all the more noticeable because there has lately
been Avery Considerable increase, amounting to more
than a million on the twelvemonth. The fact admits of
too ready an explanation to cause any anxiety. Our
chief impolts lately have been grain and flour, which
bring nothing to the Customs. The high price of
freights and the diversion of capital and ships to the
corn trade, have stood in the way of our regular
commerce ; to which it may be added, that possibly
the dearth of food, the contraction of manufacture,
and the diminished export of cotton goods, have re-
duced the consumption of tea, sugar, and coffee, and
such foreign produce, in the manufacturing districts. In
the Excise there is an increase of more than seven hun-
dred thousand on the year, and a not quite proportionate
sum on the quarter. With an unparalleled expenditure
by railway companies, paid in great measure in weekly
wages, and millions diffused by Government with no
very careful hand, it is only wonderful the consumption
of exciseable commodities has not increased more.
Excise is the measure of private expenditure. That has
.risen lately even to a hurtful amount. The slight but
regular increase on stamps, taxes, and property-tax,
testifies to the stability of our commercial system, in
spite of much that is calculated to shake and unsettle it.
As to the loans and China money, they must speak for
themselves. The latter mine appears to be finally
worked out. The former has only just been opened.
The return is, at least, quite as favourable as we could
expect. Nay, more was not to be wished for. While
we cannot export, why should we force our imports? If
we cannot get labour and material for manufacture, why
encourage an importation, which would put us in debt to
all nations? No. We are not really prosperous just now,
and it little avails to set up the appearance of prosperity.
great increase of revenue in the midst of dearth and
diminished exports cannot be sound. Rather let us be
content with a moderate increase, which may encourage
the public hopes without exciting any too curious in-
qeiries, and which seems rather the fulfilment of a
general law of progress than of any accidental or
ephemeral causes.
CHRONICLE.—The revenue accounts, published this
morning, exhibit a most flattering view of the financial
condition of the country, as far as income is concerned.
upon
The increase uiithe income of the year is no less than
1,004,0261., and upon the quarter 41,4571. Large as
are the sums of the net increase, especially that on the
revenue of the year, they by no means fairly represent the
full increase, as far as it indicates the state of the corn
coerce of the country, as well as of the internal con-
.umption of commodities during the year. In the ac-
counts for the year every item which can be taken as
representing either increased trade, increased wealth, or
increased consumption, has yielded a much larger in-
come than last year, while it is those of an accidental
character on which alone any deficiency has arisen.
The Customs, Excise, Stamps, Taxes, Property-tax, and
Post-office, which are the great general indices of the
progress of trade, wealth, and domestic comforts, show
an increase of no less than 2,489,4871.; while in monies
received from China, for imprest and other purposes,
and for the repayment of advances, the deficiency in the
present year amounts to 1,611,8454 in reduction of the
total increase. A similar observation applies to the
quarter, except that the increase is not so large in pro-
portion on each of the items, with the exception of the
Post-office, and that in the Customs there is a very slight
decrease. That there should be so slight a decrease in
the amount received during the last quarter from
the Customs as 4,2721.—when we consider the de-
rangement in the state of the money market, and
the extent to which business in all branches has
been contracted, in consequence of the desire which has
been universally manifested to reduce liabilities to the
lowest point—is, we must confess, a most agreeable sur-
prise. Nor, indeed, could any one be prepared for so
favourable a general result in these accounts, especially
as regards the Customs and Excise, when the deplorable
condition of the manufacturing districts during the last
six months is referred to. It is true that, as a set off to
this, not only have the railway calls exceeded 20,000,0001.
during that period, a large portion of which has been
expended ; but the enormous amount of Government
money which has been given to Ireland has caused a
consumption of sugar and other commodities, contribut-
ing largely to revenue, greater than was ever known in
that country on any former occasion. But if there be
one view more striking than another:which these accounts
force upon us, it is the extraordinary success which,
even in a fiscal light, has attended those reforms in our
commercial legislation, and the reductions in our tariff,
which have been so freely made during the last few
years, and especially in the spring of 1846. These
accounts comprise the first entire year of the low duties
under the last reduction of the tariff, and, compared with
an entire year of receipts prior to that reduction,
they show the extraordinary increase already men-
tioned ; and, what is more remarkable still, the
year ending the sth of July, 1846, was one in which
all branches of manufacturing employment were
active to an extraordinary degree, and when all hands
were well employed ; while during the last year, it is
notorious that there has been a great deficiency of em-
ployment in some of the main branches of our trade.
The contrast of the two years in this respect only ren-
ders the triumph of free-trade principles more marked and
decided. The profits arising from our fiscal reforms
have more than compensated by a million sterling the
cessation of the China ransom moneys, and other re-
ceipts of an accidental kind. Thus, although our
Treasury is no longer enriched by direct payments from
the Chinese Government, yet we are reaping the ad-
vantages of an enlarged commerce and an increased
revenue, as part of the fruits of an honourable peace.
There is surely much in these reflections that should
encourage a Government to persevere in the same course,
and to make, as a means of ultimately increasing our in-
come, extending our trade, and adding to the general
comforts of the community, a large reduction of the tea
duties. All experience points to this experiment as
being a safe policy in every view which can be taken of
it. It is impossible, however, to dismiss this subject
without referring particularly to the great extent to
which the Chancellor of the Exchequer is indebted for
this large income to the important measure with respect
to the sugar duties passed in the autumn of last year.
No fiscal reform has ever been attended with such ininir
diate and striking results, which, however, were so were
arein
and so certain,.that it is now only a wonder they we
resisted so long.
ADVERTISER.—The returns of the quarter's re-
st
venue are highly satisfactory—a
than could have been expected in
which the country has been tgbreedeal more so
some months past.
circumstances in
placed fo
It was generally feared that there
wably oruld be
sura serious
rised de-
reep to
faleation; the country will be ag The
augmentation, it is true, not
find that, on the contrary, there is an increase.
in large; but under the
gratifycir-
cumstances it is most
g to find that there is any
increase at all. In all the items,eomexacreepd w
t twoit,hthtehe there is an
increase on the quarter, as cor-
responding quarter of last year. P
The two exceptions
aro the Customs and the Miscellaneous. The deficit,
however, is very slight on either head. On the Customs
it is 4,2724, and on the Miscellaneous it is 10,540/.
Under both heads, however, we have an increase on the
year. On the Customs, the increase on the year, as
compared with the year ending the sth of July, 1846, is
no less than 1,103,348/., and on the Miscellaneous it is
114,384/. In the Excise—one of the best tests of the
prosperity of the country—the augmentation on the
quarter as 186,3411, while on the year it is 708,8861.

Open Deposit
Accounts.

The Stamps, btoo, have been jtipreasiagly 1 roductive,
the addition on the quarter being 138,9691., and
on the Sear 212,8571. The Property-tax has
also yielded an additional amount, the augmenta-
tion on the quarter being 27,3551., and on the
year 308,024/. The Post-office produces 34,0001.
more this quarter than in the corresponding quart• r
of last year. The total increase on the quarter
is 41,4571.: on the year it is 1,004,0261. On
the whole, we repeat, the revenue returns are
highly encouraging, and will, we are sure, be so consi-
dered by the country; for, as before observed, the im-
pression was universal that there would be a serious
defalcation. The increase is the more surprising when
it is remembered that, in the quarter just ended, no sum
was received under the head of Chinese money, while
the total amount of the corresponding last year's quarter
was augmented by no less than 440,0064. in the shape of
Chinese money. As trade and commerce are every-
where improving in the manufacturing districts—money
becoming easier—and food very considerably cheaper.
we are justified in cherishing the fond hope, that we ar,
now entering on a period of unusual prosperity. We
congratulate our countrymen on the bright prospec.s
which are at last opening upon us.

CHEAP NEWSPAPERS.
(From the Times.)
A respectable Contemporary announced yesterday his
intention of reducing the price of his paper to fourpence
in the course of this month. As there cinbe no doubt
that a really good paper cannot be published for less
than fivepence, the announcement, of course, implies
that an interior article will be given, and that our
temporary is driven by sheer necessity to give up his
present terms, and take to a lower business. The inci-
dent of a sudden drop in the world, from a good shop to
u cheap shop, or from a first-rate manufactory to deal-
ing in secondhand goods, is so familiar as to excite no
surprise, were it not that hitherto there have not been
these downfalls in the newspaper world. But the inci-
dent is the samec.and means the same, in whatever line
of life it occurs. If our Contemporary could compete
with us at fivepence, or secure enough subscribers at
that price to pay his expenses, we have no doubt that be
would feel no call whatever to open a cheap shop merely
for the good of the public. We beg to ex-
press our unaffected concern that he should find things
going so much against him. There is room for us
both in the world, and even for many more such.
At the same time we will frankly own that we feel no
surprise at the unsaleable character of his wares. In-
geniously fabricated as they undoubtedly are, they do
not take with us. We can conceive that we might per-
haps want them or might relish them in some other
state of being than that in which it is our fortune, or
misfortune, to live ' • but being men, we can neither use
nor enjoy them. Whether the article will be more
adapted to the wants of humanity at fourpence than it
was at fivepence remains to be seen. On a former occa-
sion we presented to our readers some of the fixed items
in the cost of one copy of our paper. We beg leave to
repeat them:—
Cost of paper for each copy of this day's
publication
Stamp ll
I*
Newsvender's profit

Price to the Public

Profit
These three-eighths of a penny are all that is left out
of the price of a paper for the other expenses of its pro-
duction. There remain to be paid reporters, printers,
compositors, correspondents foreign and domestic, repair
of machinery, interest on capital, and the numerous
other burdens to which journalism is liable. The staff
and material of a newspaper establishment ought to be
the very best of their kind; and as far as the choice of
men is concerned, the discerning portion of the public
will remember that we have to pay not only for talent
and industry, not merely for the man who will do a fort-
night's work in an unexceptionable manner, but for un-
spotted integrity proved by a life of service. To render
the channels of intelligence proof against continual at-
tempts at bribery in one form or another the most
liberal scale of payment is required; and if once the
correspondence or the reporting of a paper falls into
the hands of needy and ill-requited men, the pub-
lic will be at the mercy of - those who will bribe
the highest. This applies with tenfold force to
the case of those who contribute to our lead-
ing columns. They must not only be above bribes,
not only above the suspicion of a bribe and of all private
influence or interested motives whatever, but they must
be assisted and induced to give up other openings and
prospects, and devote all their energies and thoughts to
a task which, with a certain reserve common to all
earthly employments, demands and deserves this abso-
lute devotion. Interested as we may seem in the affair,
we boldly maintain that the public are themselves inte-
rested in keeping up, the price of the London daily
paper, which, after all, is the cheapest thing in the
whole world ; for nothing else can be mentioned in
which you can get so much for your money. A poverty-
stricken journal is sure to be always fishing about here
and there for support wherever commercial or political
adventurers may haply be found. Watch a "cheap
John" through the twelvemonth, and you will
find him offering his wares in succession to
everybody likely to give him a price. England ought
to have a thoroughly independent press—a press that
can rebuke and expose Kings, Lords, Commons,
Bishops' clergy, magistrates, functionaries of all sorts,
landlords, manufacturers, farmers, merchants, railway di
rectors, speculators, and every other class, even while, by
means of its advertising columns, it can turn their folly
or their wickedness into gold. England requires this
protection to its liberties. Already it is discovered, and
made the subject of a rather unseemly boast, that Go-
vernment cannot afford to retain for the public use the
best talent of the day. It is outbid by private compa-
nies. A press in the interest of no one class, but aim-
ing at the common advantage of all, goes far to supply
this want. We belong to the public. We are proud to
think that England is proud of its Times. It is not very
extravagantly taxed for the possession and use
of the first journal in the world. But we feel
that we are perfectly uninterested ourselves
in the scheme of cheap and inferior newspapers. They
do not touch us. We have not lost one subscriber, one
copy of our sale, or one advertisement, through the ex-
periment which has now had more than a twelvemonth's
trial, even though, as we happen to know,
one of our upstart neighbours has offered to adver-
tise in some instances for no other remuneration than the
presence of a useful and respectable advertisement. It
is commonly said that cheap things do not interfere with
the sale of good things, but that they rather diffuse a
taste for the article, and in that way ultimateiy enlarge
the class of consumers. We believe it to be so in our
case. They who start with a twopenny-halfpenny, or
threepenny, or fourpenny journal, will soon not be sa-
tisfied with anything under a fivepenny one. They will
soon find out that underpaid workmanship is sure to be
" scampt." The experience of every class will assure it
that there is no such thing as a cheap and a very good
article, unless, indeed, by means which the honest por-
tion of the community will hardly wish to encourage—
by defrauding creditors, by plundering dupes, by wasting
capital for the purpose of selling things at less than they
cost, and thus injuring those who are compelled to cal-
culate closely, and who feel an honourable ambition to
live on their just and proper gains.

ST. 3/IARYLKBONE BANK FOR SAVINGS, 76, WELLBECK-
STREET.—EstabIished July 5, 1830.—Comparative State-
ment of progress, at specified periods, during the last seven
years.

4tas invested with Na-
tonal Debteommissioners

On July 5, 1841 ... 12,881 £260,852
„ „ 1842... 13,100 275,072
„ ft 1844
... 13,820 305,383
fl ft 1844 ... 14,638 340,509
1845 ... 15,724
356265
PO FP 1846... 16,729 346,977
„ „ 1847... 17,939 319,340

WEST LONDON SAVINGS' BANK. Comparative
statement of progress at specified periods during the
last seven years:—On July 5, 1841, 2,509 accounts,
39,5011. deposited; 1842-2,920,46,150/4 1843-3,397/,
62,0511; 1844-4,078, 71,414/. ; 1845-4,537, 81,464/. ;
1846-4,770, 87,843/.; and in 1847-4,782 accounts,
83,290/. deposited.
RUNAWAY ENGINES.—On Sunday afternoon an
accident, which fortunately resulted merely in the de-
struction of a few hundred pounds' worth of property,
occurred at the Brighton terminus. As is usual at the
termini of railways, spare engines, called " pilots" are
kept in readiness to meet emergencies ; and soon after
midday the driver of one of these left the station to get
• his dinner. During his absence, William Harrison, the
fireman or stoker, imagining that the boiler wantedto re-u_
plenishing with water, ran out the engine in order to Pat
the pumps in action ; but instead of immediately
t
turning to the place where the driver had lefbt
take an-
tothe engine,
he under a wrong impression that he ougnoman near,
other line of rails, and not seeing a ..°'
don on the engine.
jumped down from the engine and tarns; on the points
wLhiocnhd
has
trains)driven
himself, and tried to regain hig, station
engine with in-
His foot, however, slipped, .and the
, a into the easternmost
creasing velocity dashed forward
thetpot where a
line of rails (the arrival
and smashed two lugrbr
sieve. The two
similar accident occurredplatform • a nre, ono fe
the
f
in-ffice had left their
through the front of pairefewls-feeckes•
desks scarcely a
clerks of the p
re concussion,archeand
but for this they must
minute bet.°"teas not only • were
have both perished,
knocked. • the front wall and
window of the officein, but the desk and
various packages were forced by the luggage van to the
back of the office and smashed against the wall. The
fireman was immediately given into custody, and yester-
day morning he was taken before Major Willard, Messrs.
C. Carpenter and J. Borrer, the Brighton magistrates, on
a charge, under the sth and 6th Victoria, chap. 55, of
neglect of duty, for which he was fined 101., or in default
two months' hard labour. The damage to the vans and
office, including some pictures, for which the company
are liable, is nearly 4001. Yesterday morning a special
train arrived from London with a party of the
" Foresters." The train was a long one, consisting of
23 carriages, and the driver, misjudging the strength ne-
cessary to push the train to the arrival platform, put on
too much steam. At the end of the platform, at the
very point where the concussion just described took
en
place on Sunday, a second-class carriage
had been
placed, and beyond this a " hoarding" had been
rsi.b
erected
behind which workmen were already
engaged
ran her
repair-
ing the disaster. The front carriage of the r
buffers through this second-class carriage, which it forcd
again over the pavement and through the
now exhausted, hoarding. For-
tunately the momentum of the train was
and no further mischief accrued.
of Lombard-street, has issued
Mr. Bevan, banker,
to offer himself as
an address, announcing his intention a
candidate for the representation of the City of London
,on the Protestant interest. .