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

greater, and it is in this respect satisfactory
for there has been an enormous importation
of corn which has contributed to the
prosperity
of the manufactures of this country, and has made
an enormous demand for manufactured goods, which
have been sent to America and elsewhere in payment
tor food.—(Hear.) I am happy also to find that there
is not that demand for the exportation of food which
there was, and I am also happy to find
that a great establishment in a neighbouring
country—l mean the Bank of France—is in a better
situation than it was some time ago, because it
is utterly impossible that any great circumstance
affecting the commercial prosperity of that count*
could avoid being felt by and reacting upon
ourselves. I think that the circumstances I have stated
are enough to show that the present time lilt
at least a time for caution. We cannot cons
tinually prosper to the extent we do, and we must
be prepared for less prosperous times, and no one ought
to be too sanguine. I will now turn, which is more
particularly my duty, namely, to make the financial
statement. Sir, the Right Hon. Gentleman wile
preceded me in the office I have the honour to
fill, made his financial statement in the month of Mai
last year. He then said that he anticipated a surplus
on the ordinary revenue of 76,000, and from the extra'
ordinary source of China, a surplus of 700,0001., making,
altogether 776,0001. By subsequent legislation, slaved
grown sugar has been rendered admissible to this
country, and the result has been that in the nixie'
months from April to December there has been all
increase of revenue on the article of OW V 1
the extent of 304,0002 The Right Honourable
Gentleman anticipated a probable surplus, and bf
his nett calculation made it to be about 1,000,0001'
However, if Hon. Gentlemen would only refer to 024
balance-sheet issued on the sth of January,. they low,
find that the excess of income had so far
ceeded the Right Honourable Gentleman's
pations that there was an excess of 2,846,3014
I may, perhaps, be justified in stating that when n,
period comes to which the Right Hon. Gentleman on
reference, his calculations will be found to turn out 0°
unfavourable for the country. I think that the allS,,,tr
lotions which I am about to make, based on 1.1,
proceeds of the revenue on the sth of Javan
last—on these proceeds I am about to state what
think the probable revenue will be for the year, fro.-
the ensuing sth April, 1847, to the sth 'AP
1848. The House will see that the incre
on the Customs duties to the sth January was 20,568,90'
and that a considerable portion of that was derivable fr°,
corn, somewhere about 793,000/. In consequo"
however, of the suspension of the duties on the hurl;
Lien of corn, it will be seen that we cannot on 2
anti/
first six months expect this amount to be continn7f
What the produce of the harvest may be, we cannot
course yet calculate; but, even supposing that nothing...,
derived to the revenue from this source, I think that f.r_
the increased importation in sugar a maWrit'is
added revenue will accrue from this source in the conr
of the succeeding year; but more than that, on the °IPS/
three items on which the Customs fall off in the course
the last six months for which we have a return, viz., butter'
cheese, ar d silk manufactures, I find that the insnoss et
na
these articles has increased. I find that in then -s
months, from April to December, the amount of butteoo
has been 201,000 cwt. in 1845, as compared with 217,,ete
in 1846; cheese, 202,000'cwt. in 1845, as compared .„
265,000 cwt. in 1846 ; and 218,000 lbs. of manufactie
silk as compared with 297,000 lbs. in the following is
Sir, taking all these circumstances into consideratilo
believe I shall be entitled to assume that the probe
0;
income from Customs' duties for the ensuing year sYIIIOO6
be less than 20,000,000/. If trade goes on
without any material change, I believe I eties
,„
be fairly justified in assuming that the Customs' uf`',.sai
will yield 20,000,0004 I have already said that 0
the beginning of the present year up to the present The
the Customs' and Excise duties have increased. Igo
increase in the Customs' in the last six weeks was nier,„
than 245,0001. I come now to the Excise produce. vorog
the sth January the Excise duties amounted to 13,988,5 r
Sir, nothing can be more encouraging than the ext'...iies,
dinary increase that has taken place in the Excise den,
during the last three or four years, and, although thersto
not exceed the amount of the past year, nevertheless' in
many respects, the Excise income is far more eerwitli
than the Customs. I may therefore assume, 06
some degree of certainty, that the Excise Agin,
for the ensuing year will be 13,700,0001. -tle-bes
the increase upon the Excise made in the less
ginning of the present quarter has been no re
than 106,000/. In Ireland, too, the Excise duties it„. •
increased in the course of the last year, but not:cied
very considerable amount. Sir, the Stamp pro
in the year ending the sth of JannerY ot
I assume they will be about the
7,500,000/. The Taxes and Land Asse
ssin
the eetssbProduced
ould not
4,272,0004 I know of no reason why --
produce the same, say, 4,270,0004
The Pro
produced 5,395,390/. ; but here there is a small
a the
of extraordinary payment; therefore, although bb
Property-tax since the sth of January, has increase"
169,0001. over the corresponding period of last year' of
will assume that the Property-tax will yield a stlea.„
5,300,0001. The Post-office I will take at the ssi-eruitYfe,
amount as last year, 845,0001. ; Crown lands si
120,000/. The miscellaneous items of revenue, 111)
the sth of January, produced 427,0001. The calculatiell
of the Right Hon. Gentleman opposite was 300,0°°L
A considerable sum of money had been paid from the
fees of the House, which, in all probability, will not 1();•°
so large in the present session. I may call it 30,00::
from that source ; therefore I take the "
cellaneous" at 330,0004 This will make tb
so'
ordinary revenue of the financial year of
and 1848 amount to 52,065,000/. I now coin
to the expenditure. The interest of the debt, fund
and unfunded, will be 28,045,000/. The estimated char)c;
upon the Consolidated Fund, omitting the charges oes,s
count of the Irish distress, will be 2,522,4204; to,t,
must be added that charge to which the Right Hon• uroo/
tleman (Mr. Goulburn) alluded last year, viz. 175," sr
for the remainder of the charges on the Irish coes„,i,
bulary, hitherto borne by the counties of Ireh;s
making a total, in round numbers, of 2,700,0004 .41
amount of the National Debt and Consolidated -cOOO
charges will be 30,745,000/. The estimates in the °vises
services, except the " Miscellaneous," are all tWeetbs
entitle e
table of the House. I, therefore, need not do eaore,
merely etle to some of the items. The vote opt
For the army
The militia ~
4155,10n0e
0y-
The increase in the Commissariat
~-----'
71
Making the whole army vote
artl
But for the deferred estimates for the previous (112- s s
of the year, there would have been a decrease ; "of
was, the increase amounted to 192,0004 The ces6/,
estimates for the present year will be 7,561%64
being an increase in that department of 77'"isif
The estimates for the last two years have been heoll
the expenditure. Later in the evening I s slat
show the excess of that expenditure for svert
year ending in April last. lam afraid, holy yet
owing to arrangements made in the early r.s.
of this year that there is a probability that the eltlit;d,
diture of the present year will exceed that anti-erne:l
A considerable rot-lion of that increase has been dee'ies,
necessary. We have increased the marine force to bie
extent of 1,500 men, and when my Honour eeeo
Friend (Mr. Ward) states the naval estimates of "re
House, he will state the reason of this increase ni„ete
fully. than I now intend to do; but I think it right
make this statement now. The vote for the °Mins
department will be 2,679,127/., which is an pf
crease over the last year of 135,558/. 011 t
;cee
that increase, 67,299/. is due for certain so.- se
which the House last year considered ought to 0
placed under the head of the Ordnance, in order
bring that portion of the expenditure into Prop
tif
order. The remainder of the increase is pares
owing to the necessity which has arisen in 0070
quence of the change which has taken place sir
maratime warfare by the introduction of steam-shins
the purpose of promoting the defences of the counl;
Sir, the Miscellaneous, the list of which is not on ts,s
table, is 3,750,000/. I have left out of them any stlwc,
voted with regard to the relief of Ireland. I may,isllni
however, that 1,302,0001. is included in the Right -13,.e-I
Gentleman's estimate. Compared, then, with last fv-in
there is an increase of about 397,0001. Of that 171,0 th
is owing to a half-year's expenditure connected lY"
certain provisions of the poor-law,
and for the maintenance of prisoners. The reaselecirer
of the increase is due to the nece • • • 5 -cr
necessity for providin of
printing and stationery for
the maintenance of convicts at home lust"
the colonies. A considerable portion is due tof
Parliament, which is very heavy ; also,
es,
consequence of some unexpected increase in the..„-
penses in connexion with the New Houses of Patliau'n-fll
bothand of puroosueseenst i 0 I
to which, I think, I had not better further advert „11,--eel
they are before the House. The result of the Se sen,the
sums proposed to be voted is 20,831,077/., making 7i
whole ordinary expenditure for the year 51,574a„00
Sir, in the statement which I have made to the 2'"iss
I have omitted, purposely, all sums required for the en
lief of distress in Ireland, whether they have„ be of
granted, or estimated, with the exception 1.14
the ordinary establishment of the Board of Woo, ,
and the salaries of such officers as „ one
have been employed otherwise, but who are now m d
gaged in the inspection of the relief committees; na
it now becomes my duty to state what I think thenera"a
on the Exchequer will be. What is material to the pretne l;
purpose is not what may be the ultimate demand tro-ns
us, but what may be necessary to meet the Pre' ea
emergency. The system which has been cowmen
last year, and continued to the present recntleo,
lief
is, that all the sums required for the re,o
of public distress should be advanced by
Croy. n. Whatever burdens may be ultimately sho .41
in the landed property in Ireland, in relent `,,0 these
sums, the landed proprietors have as yet
(Hear, hear.) They have paid. '
no doubt, the poor'
rates, which, in 1846, alliClinted to 390,0004, and the!
have paid their subscriptions to the relief con;
mittees ; and I believe that a large body 4:l'
the landed proprietors have one to a very greats-
pense to rnailPt4in the poor npon their estates. A ant
now confining
may be the expense, the whole
r;ild nothing."'
my statement to the relief works, and
whatever re
first instance, is advanced from the public Treasury
It is
.'not very easy to state precisely what the
amount of expenditure may be, or that will depend
upon a variety of circumstances. over which we have s
,
control. is easy enough to state what the expenses,
in various wars,have already been. I stated a night
r two ago that the expense in the month of November
amounted to 3980 Perrone relleYed Qcs°ber last _
01., and in five weeks after to 742.0002
number of