The Sun.
London, England, 1824-02-24 00:00:00

FINANCIAL STATEMENT.

The CHANCELLOR of the EXCHEQUER then rose Arid
said, that in times when war was proceeding, so that Ministers
could not enter into prospective financial arrangements, it was
obviously impossible that the Government should be able to
present to the House any calculation of the supplies which they
might be called upon imperatively to ask for the service of the
year, But in time of jaeace.no such obstacle existed, and he
thought the Committee would agree with hint in saying, it was
a great public advantage that at the commencement of every
Session the House and the country should be in full posses-
sion of the finaneialarrangements upon which Parliament would
be called upon to exercise its judgment, It enabled the House
to watch with more vigour and jealousy—and he was the last
man that would complain of that power—it enabled them to
watch with more rigour and jealousy any proposals which the
Government might have to make. He was anxious, on the
contrary, that they should enter into the detains and examine
all the great branches of expenditure and revenue in which the
interests of the country were so deeply involved. He felt, there-
fore, that in making this statement, he was doing that which was
his duty, as well as that which was most convenient and advanta-
geous to the House and to the country. Acting, then, upon this
peinciple, he should proceed to give the fullest explanation in
his power, of the finances of the country as they now stood,
and of the measures which his Majesty's Government intended
to propose for the sanction of Parliament with reference to the
future. lie should proceed in the first place to state the re-
venue, expenditure, and surplus of last year; and, in the next,
the revenue, expenditure, and surplus of the year to come.—
He should then proceed to call the attention of the House to
those observations which arose out of the state of all those sub-
jects, and to the measures which he should have to propose.—
By documents now before the House, the Committee would
Perceive that the surplus of last year amounted to 6,710,000/.
It was necessary to deduct from this a partion of 5,000,0001.,
under the Act of last Session, which provided for the applica-
tion of that sum to the gradual diminution of debt. The sur-
plus, therefore, which would be available to any immediate
purposes was 1,710,0001. The Estimates which he had to pre-
sent would shew the revenue, expenditure, and surplus of the
present year to be as follows :
Customs - - £11,550,000
Excise - 26,626,000
Stamps
- 6,000,000
-
Taxes, including Land Tax and Assessed Taxes 5,100,000
Post Office - - - 1,460,000
Miscellaneous - 7,30,000
To that must be added the portion of money to be
repaid out of the repayment of Austrian Loan 1,500.000
Half-pay and Pensions - 4,620,000

'The total being _ _ - - 37,385,000
year 1824, he would take as follows :
the Consolidated Fund, which was a
with the interest and management of
permanent
eilleril
(eel
lial expenditurenrNationalset llt charge
expenditure,D e i
,uot of
o the n -
- - - £27,973,196
Irish Exchequer Bills, or what were called Defi.
ciency Bills - ' - - _ - 100,000
Annual and Permanent Charges upon the Conso-
lidated Fund, under the bends of the Civil
List, Pension Act, &c. - _ . 2,050,000
Ilalf-pay Annuities _ - - . 2,800,000
Sinking Fund - - - - 5,134,458

Total - - - - £38,057,654
-
To. this was to be added the supply of the year
which he took as follows :_.interest of Ex-
chequer Bills - - - - - 1,050,000
Army - - - - - 7,490,945
Navy - - - - - 4,762,893
Ordnance - - - - - 1,410,044
Miscellaneous Services - - - - 2,611,388

Total - - £56,382,924
Deducting that from the amount of revenue,
namely - 57,385,000
There would remain a surpluss at the end of this
year, after applying 5,134,0001. to the reduc-
tion of the debt of - - 1,002,076

The surplus then, on the two years, would be - 2,763,000
He should now proceed to state what appeared to him to be
most essential to the House to consider. He would first pro-
ceed by comparing the actual receipts of this year with the
Revenue of 1823. The House would recollect that he ven-
tured at the beginning of last Session, to calculate upon
the amount of the Income of this year. He calculated the
customs at ten millions and a half. He certainly did not
think he was taking a sanguine view, but he considered
himself only warranted in stating a reasonable amount, and
such as might be fairly expected to be realised. But in point
of fact, such was the foreign commerce of the country, such
was its augmentation, owing to the facilities which had been
given to free trade and commerce, by the adoption of those
principles of which he had always been the humble advocate—
(Htar, hear !)--and which the House now seemed determined
to carry into operation—(llear !)—that he had calculated far
below what the actual result had proved. Owing to these cir-
cumstances, and to the increased ease and consumption found
in every part of the kingdom, he had the satisfaction to state,
that the Revenue of the Customs, which he had taken at ten
millions and a half, had actually amounted to no less than
eleven millions and a half. lie flattered himself that the state
of things, which he should more fully explain by and bye,
grew out of the liberal policy which had been adopted, would
furnish the House with abundant reason for persevering in the
same course. Under the head of Excise, he could not congra-
tulate the House on exactly the same result as that which he had
shewn in the Customs ; but. he thought he should have no diffi-
culty in satisfying the House, that though the actual receipt of
last year had fallen short of his estimate, the quantity of excise-
able articles consumed in the course of the year had experi-
enced no diminution, but had on the contrary increased. H.
had estimated the produce of Excise Revenue at 26,000,000/e
The actual receipts had amounted to 25,342,000/. This differ-
ence arose from circumstances to which he had not adverted
when forming the estimate. In the first place, he had omitted
to take into account what remained to be paid on stock in
hand, when the 1‘ felt Duty was reduced in 1822. On that head
one payment remained to be made, amounting to 130,000/.--
In consequence, the Revenue of the Excise was reduced by
that amount. In addition to this he had to state, that owing
to the distress which prevailed in many of the districts whtre
Hop cultivation was carried on, Ministers thought it right to
allow a temporary suspension of the payments of that duty._