The Sun.
London, England, 1870-04-23 00:00:00

THE REDUCTION OF THE NATIONAL DEBT.

The Economist, in discussing the position of our Debt,
says that it would be useless to look far ahead or form a
large programme, or regulate matters on the expectation
of a treat and exceptional calamity, which a struggle for
existence would be. It is enough if we make sure that,
one year with another, according to current contingencies,
we are not going down in the world, but are better able
than the year before to meet all our expenses. Now for
this purpose our system does provide a considerable mar-
gin. Since IS6O we have reduced the debt about
£30,000,000, notwithstanding an Abyssinian war. We
could now pay for three more " Abyssinias " without be-
coming more indebted than we were in 1660, That is the
Jesuit of ten years' saving. At the current rate, more-
over, we are paying off about twelve millions every two
years. We could certainly meet the borrowing necessary
for another Crimean war out of our accumulations since
it closed ; and as wars are in modern days, we may con-
sider ourselves tolerably prepared. All this may not be
enough, but it is a good deal, and if we go beyond, the
object should be well defined. A second consideration is,
that the remission of taxes is still in reality a
great benefit to the country. We ought to be
very certain that in refusing to reduce postage
rates, or the income tax, or the small taxes which Mr.
Lowe has just got quit of, or the sugar duties, we get
fall value for the sacrifice we impose. If a great national
position is desirable, so also is the present welfare of the
masses of the community. At a time when the whole
tendency of legislation and the progress of industry is to
raise the standard of living among the masses, we should
be careful to omit nothing which will make the end more
sure. There is this also to be said in favour of remitting
taxation. It is a mode of adding to our reserve, when
the frame at least of the taxes is retained. We have all
that taxation to reimpose when an emergency comes.
The only practical conclusion to arrive at is that we can-
not very wisely alter the principle of our system. There
is no great object to be gained. Our position as it is im-
proves every day; we meet all our contingencies and
have something over ; we are in advance of almost all our
neighbours and greatly in advance of most of them ; by
reducing taxation, as well as increasing our reserve, we
obtain immediate benefit, and stimulate the growth of
the national resources. Perhaps it would be wise to en-
large our margin a little ; we are inclined to think it
wle
dioffuelrdenbce
e iwise,n th ef
power o
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rsltioght reduceincrease x wouldu
trflNavkee s
hl iotut
deprecate for many reasons any material postponement of
other objects to the reduction of the debt.

PEACE IN TIPPERARY.—The returns to Govern-
meat forsin gt
lhee
casew ee k
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e theo rlBctrilnoef
nApt iennstt2arnet
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esurroundinge
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divisions,
besides a large civic population.—Clonmel Chronicle.
MUSICAL AND THEATRICAL GOSSIP.—The Orchestra'
says Mdlle. Nilsson leaves Paris for London on the 3rd of
May.—Madame Patti sings for charity at the concert
arranged by the Princess de Beauveau, at the Hotel de
Ville, on the 25th, and will be in London on the 6th of
may.—We understand Miss Herbert will shortly assume
the title-rale of Frou-frou" at St. James's Theatre, vice
Mdlle. Beatrice.--The report of Mr. Webster having
leased the Adelphi and Princess's Theatres to Mr. Bouci-
cault is untrue; Mr. Webster has n_t intention of leasing
either theatre to Mr. Bcueicault.—The Musical Standard
says that Madame Pauline Lucca has, at the instance of
the Duke of Saxe-Coburg, visited Gotha, to appear at the
Court Theatre in the Mignon" of Ambroise Thomas.
The invitation of the Duke was accompanied by a gold ,
medal and cross of merit."—The Choir says a concert on
a magnificent scale has just been given under the patron.
age of the Emperor at St. Petersburg, at which the exe-
cutants numbered 1,130, including a choir of one, hundred
voices from the Imperial chauel.—Aristocratic composers
are coming to the front on the continent. To the names
of the Countess de Grandval and the Baroness do Maistre
must now be added that of the Comtesse Perriere-Pilte,
whose first opera was performed at her hotel last week by
some of the chief artistes in Paris. The work entitled
". La Dryade " was listened to by a distinguished

THIRD EDITION.

The Third Edition of The Sun of last Evening was published
iu time for delivery in town at 7.15 p.m.

SUN OFFICE, 6 o'CLocx.

S TELLIGENCE,

GUY 13EIT1NG.-THIS DAY.
TWO THO USAND.:
5 to 2 agst Kingcraft (offered—take 550 to 200)
6 to 1 agst King o' Scots (offered)
7 to 1 agst Macgregor (offered)
15 to 2 agst Stanley (taken)

9to 1 agst Prince of Wales (taken and offered)
100 to 6 agst Hawthornden (taken)
20 to 1 agst Akterope (offered)
25 to 1 agst Alexander (offered)
25 to 1 agst Astolfo (offered)
40 to 1 agst Champion (offered)
1000 to 10 agst Sunshine (taken and offered)

CHESTER CUP.
sto 1 apt Sabinus (taken and offered)
9 to 1 apt Glenfalloch (offered)
10 to 1 nit Siderolite (offered—take 100 to 8)
9to 1 agst Cherie and Starter coupled (taken)

THE DERBY.
Bto 1 agst Sunshine (offered)
9to 1 agst Kingcraft (offered)
18 to 1 agst Camel (taken and offered)
30 to 1 agst Sunlight (taken)
40 to 1 agst Prince of Wales (taken)
1000 to 20 agst Normanby (offered)

FLAT RACING FIXTURES.
APRIL.

Abergavenny 21, 22 Cardiff 26, 27
Eastbourne 22 Croydon 26, 29

Newmarket lat S 2to 6 Wye 19
Edinburgh 7 Doncaster l9, 20
Chester ... lO to 13 Harpenden 20, 21
Winchester 10, 11 Bath 24, 2i
Salisbury 12, 13 Stamford ... 26, 27
Chelmsford 17, 18 Croydon 36, 27
York 17, 18 Epsom 31 to Jun• 3

COURSE OF EXCHANGE.

Amsterdam, Short Short 11 18 11 181

46......1ba GeV ~... •
Do . 3Ms ... 12 0+ ... 12 1
Rotterdam — ... 12 0 ... 12 1
Antwerp — ... 25 42+ ... 25 47+
Brussels
Hamburgh — ... 13 101 ... 13 11
Paris
Ditto
Marseilles
Frankfort-on-the-Main... ... 1201 ... 121+
Vienna — ... 12 621 ... 12 67+
Trieste ... ... 12 62+ ... 12 67+
Petersburg
Copenhagen — ~ 9 23 ... 9 27
Berlin
Madrid..
Cadiz — ... 49 ... 491
Leghorn
Sailan — ... 26 32f .., 26 37f
Genotl. -• ... 26 32} ..„ 26 37
Naples
Palermo — ... 26 32f ... 26 37
Messina
Lisbon 90 days... 52 ... 521
Oporto ... 52 ... 52}