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London, England, 1856-10-01 00:00:00

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LONDON, WED:s.TESDA.Y, ooToBER 1, 1%56.

The Revenue Returns for the Year, half-year,
bound to say that they are
and quarter are once more before ear'
and. we are
quite as favourable as
we could have anticipated, although they do not
yet come up to the estimate of the Chancellor of
the Exchequer. That learned Pundit, in his last
year's Budget, calculated on obtaining 5,300,0001,
from new taxation. He has obtained 3,211,7081,,
and was therefore only 2,088,2921. in excess of
the actual results—no trifling sum in itself, but
nothing to a financier who fancies that there are
no limits to taxation, and that every additional
impost must necessarily bring a corresponding in-
crease to the exchequer. We have, however, re-
peatedly explained the fallacy of such conclusions.
In fiscal matters it by no means follows that 2
added to 2 will amount to 4, or that if 2 be sub-
tracted from 4 there wilt not be far more than 2

remaining.
It is but justice to Sir G. C. LEWIS to state
that he was following in the wake of a Minister
who was labouring under the delusion that he
could provide for all the extraordinary expenses
of the war from actual revenue, and that no por-
tion thereof should fall on posterity, for whose
benefit it was mainly, if not altogether, under-
taken. Mr. GLADSTONE had doubled the Income
Tax. Sir G. C. LEWIS added 2d. in the pound,
or 16s. Bd. per cent. The former expected to
obtain more than six millions and a half by the
duplication; the latter hoped to add two
millions more by the additional 2d. Mr.
GLADSTONE raised the Malt Duties, which
Sir G. C. LEWIS could not therefore touch ;
but be endeavoured to extract 1,200,000/.
from " the corn of the tropics " in addition to
700,0001. previously put on by the Aberdeenite
Chancellor of the Exchequer, and 1,000,0001.
from Scotch and Irish spirits in addition to the
450,0001. which Mr. GLADSTONE hoped to obtain.
One
Penny per lb. on coffee was also expected to
yield 150,0001., and 3d. per lb. on tea 750,0001.
more. The total anticipated increase for the two
Years wasno less than 15,157,0001., of which nearly
four-fifths have been obtained ; that is to say, in
the year ending 30th Sept., 185,5, 8,344,7811.,
and in the present year 3,211,708/. ; making
altogether 11,556,4897., or a little over eleven
millions and a half in round numbers—the defi-
ciency being about 3,100,000 i.
As to the particular heads or items, we find that
increase there is in the Customs an ion the year of
250,8581., on the half-year of 59,72/., but a
decrease on the quarter of 37,1431. Tea, not-
withstanding the additional 3d. Per lb., has
yielded 142,0001., and sugar, despite the addi-
tional 3s. per cwt., estimated to produce in the
year 1,200,0001., 177,000/. less ; while
the
articles that were permitted to remain without
alteration showed a considerable increase that
nearly made up for the deficiency in the matters
from *high such large additions to the charge
were expected to produce.
112 the Rawl% there -is an increase is the year