The Sun.
London, England, 1841-05-01 00:00:00

TITE BUDGET.

On the motion of the CHANCELLOR of the PAX.
CHEQUER, the House then resolved it. cif into a Com-
mittee of supply.
The CHANCELLOR. of the EXCHEQUER the 3
rose and said—Sir, the vote I am about to put into your
hands is One of the usual votes of the Session, and is pet
for the purpose of being followed up by a resolution of
Ways and Means to vote certain Exchequer bills ne-
cessary for the public service, and for paying bills
now outstanding. The vote itself would in reality require
no explanation, and I take it with a view of laying before
the House at the earliest possible period a statement of
our financial prospects of the year, and those measures
which her Majesty's Government propose to recommend
to the cnsidcration of the House. Sir, I shall detain
the House in endeavouring to bring the case before
them with as few words as possible, and with
this view, I call the attention of the House
to the statement which was made by me last year of the
expectations which I had of the income for the year, and
of its expenditure. Gentlemen who will refer to that
will find, upon the whole—(there were some few additions
after I made the statement, which, however, correspond with
it)—that the expenditure of last year, as stated, amounted to
49.499,000/.,while the income was estimated at 48,641,000/
leaving an estimated deficiency of 858,000/., it was pro-
posed to meet that deficiency, arising from extraordinary
expense., and fr)va taxes not coming into operation, by a
vote of Exchequer hills, which was reduced to 800,000/.
in consequence of the French treaty net coming to a
(Inclusion. Looking to the actual results of the year,
a filch Hon. Gentlemen would find iu the paper I have
just put before them, it would appear that the actual ex-
penditure and income were as follow :
Actual expenditure., £49,285,396
Actual Revenue 47,443,399

Deficiency . .

1,841,997

This was a deficiency much larger than had been esti-
mated. Tho House would recollect that 800,0001. of the
deficiency was proposed to be met by a vote of Exchequer
bills. This left one million of deficiency beyond what
was apirehended. Perhaps it would be advisable that I
should state the actual expenditure and income, as corn.
pared with the estimated expenditure and income. They
were a 3 follow :

Estimated expenditure £49,499,741
Actual expenditure, as appeared
from the returns
Showing an amount of expenditure
below the estimate 0f..... 214,345
Hon. Gentlemen would recollect that the actual payments
of the ear for services did not precisely correspond with
what was considered the expenditure, and they would find,
with regard to the navy, that although the sums issued ap.
pearei less than the estimate. they did in fact exceed it.
The income, as compared with the estimate, was as fol.
lows:—

Estimate X48,641,000
Actual

£1,197,601
It was a natural question—from what arose the great de
ficiency, in reference to the estimates laid on the table of
the House. I think I shall be able to show the
House that it had not arisen from the additional taxation
which had been laid on, or from the manner in which it
was laid on, but from a falling off in the revenue, which
would have taken place although that additional taxation
had not been imposed. The House would recollect that
the estimate of the Customs and Excise added 5 per cent.
to the average amount of former years ; and undoubtedly,
when they came to look at the first two quarters of the year
1840, the returns would be found to bear me out in the
estimate I have formed. The increase on these two par.
ters appeared to be as follows ;
Custorns—Quarter ended sth April, 1839 £4,411,569.
sth April, 1840 4,572,623

Increase £161,054

Quarter ended sth July, 1839 ...... X 4,871,333
1840...... 5,137,934

161,054
266,601 Increase

427,655
Excise—Quarter ended sth April, 1839 £1,841,511
1840

88,485 --
141,640 Increase

,230,125
Quarter ended bth July, 1839 £2,570,311
1640 2,711,951

Increase A141,640