The Sun.
London, England, 1833-10-09 00:00:00

PORTUGUESE FINANCE.

The hope which the success of the liberal party
in Portugal begins to create of the speedy pacifica-
tion of that country, and the consequent develop-
ment of its internal resources, cannot but render an
inquiry into the state and extent of its capabilities,
as a commercial and political Power, peculiarly in-
teresting at the present moment. A true know-
ledge of the strength and importance of a nation is
not to be obtained by merely surveying it. geogra-
phical position on the map, or measuring its magni-
tude in square miles; it can only be learned by a
careful examination of the condition of the popula-
tion—the state of agriculture and manufactures—
the extent of the home and foreign trade—the
amount and nature of the taxation—and the ability
of the people to supply the exigencies of the state.
Without entering into a minute inve-tigation of this
kind, obviously too extensive for the columns of a
newspaper, it may not be entirely useless to furnish
a few derails, derived from authentic documents,
exhibiting a general view of the financial and
commercial means of Portugal. The elaborate
statistical work of M. Adrian Balbi affords ample
materials for this task, and we shall begin by
evracting from it an account of the Portu-
guese income and expenditure for the year 1822,
the latest financial statement contained in the book.
Undoubtedly, since that period Portugal has expe-
rienced a great change. It has been afflicted by the
severest scourge which can befall a country—civil
discord, and the burdens of the people have been
arbitrarily increased, to maintain an odious and
iniquitous warfare, embarrassing commerce, and
impoverishing the nation. For the last six years the
Usurper has occupied the throne of Portugal, and
six years of confusion, confiscation, and misrule
cannot have failed to produce deep and lasting mis-
chief, only to be eradicated by a firm and prudent
administration. The financial statement for 1822,
therefore, though not very flattering, must be much
more favourable than any which the present cir-
cumstances of Portugal can be expected to produce;
nevertheless, it may throw some light on what that
country is still capable of under a strong and se!tled
Government, carrying strict economy and retrench-
ment into every department of state, and conducting
the affairs of the country on principles of sound and
enlightened policy.
In the pe.r just mentioned in the total income of
Portugal, independent of the revenues of the ultra-
marine pos-essions, amounted to 7,232,000,000
reis, showing a decrease on the average yearly in-
come of five years, ending in 1819, of '2,526,910,000
reis. The produce of the Alfandegas, or customs
and excise, is the largest sum paid into the Treasury
under one head. The income derived from this
some(' amounted in the year we have taken to
2,700,000,000 reis; being a decrease on the average
amount collected during the five years before-named
of no less than 963,740,000 reis. The impost on
tobacco produces the next largest sum; it yielded a
revenue of 1,417,000,000 reis, being a slight in-
crease on the average amount of the five years. The
same is also the case with respect to the decima,
sort of land tax. In 1822 it amounted to 800,000,000
reis; the average during the ft,e years amounted
only to 774,800,000 reis. An item of income ap-
pears in this account under the title of Bulk da
Cruzada (Bull of the Crusade), amounring to
42,000,000 reis. Li Bulla der Cruz,da is renewed
by the Pope every three years, in consideration
of a certain sum of money paid to him by
the Government. It was first introduced into
Portugal by Philip 11., and may be divided
into three classes, according to its of and value.
The bull for the living is worth 100 leis; the hull
for the dead 50 reis, and the value of the bulla do
composicao (composition bull) varies from 40 to 500
reis. This pious expedient for raising tite wind
fails, however, to be as profitable to the state as the
less gndly practice of card. playing ; far the tax on
cards produces a revenue of 60,000,000 reis. The
expenditure in 1822 exceeded the income: the heaviest
charge being that incurred for the support of the
army, which swallowed up more than half of die
revenue. The whole expenditure amounted to
8,839,000,000 reis, leaving a deficit, in the event
of no remittances being received from the ultramarine
possessions, of 1,607,000,000 reis. The charge for
the army amounted 4,379,200,000 reis—for the
navy, to 1,182,000,000 reis ; the civil list*
517,400,000 reis, to which is to be added a sum of
38,000,000 reis received by the Queen from another
source. The salaries, pensions, and other charges
amounted to 2,442,400,000 reis; receipts for the
patriarchate to 220,000,000 reis; and receipts for
et:
to
meansle
3t l
en=eiiaihe noeifooitt)l;irilitterris:ll:eo,:to,oooaskpf,riGniutr,hlo,lgy:,otaipOoitlitlOra:itbi.,titOoslhlo:brnierisfijevdtrieogissrn.tetleuttte,nio):ierasixi
and
itti
ildritepthpilalareote enormous
eplsi,omtrritii
tkti
limited
s
s
remarkable that the deficiency, instead of diminish-
ing, has increased a fourth since the year 1819,
after seven years of peace, and with a navy the
skeleton of which can alone be said to exist. It is
also to be observed, that unless the Minister pos-
sessed the means of calculating the annual produc-
tion of the ultramarine possessions, no accurate idea
of the state of the Portuguese finances could be

" The B<rik was hound to lend the Gosernment
in the first year of its operations 2,000,000,000 'Tie,
in bank bills, bear ng an interest of 4 per cent., witch
were to be paid into the Treasury in 20 sums of
100,000,000 eaei. The 'Treasury, on their pant,
undertook to redeem an amount of paper money
equal in value to the sums they received from the
Bank.

" Ferreira I3orges, an able member of the Cortes,
and the chief promoter of this arrangement, calcu-
lated tha,, according to the mode in which the sum
of 2,000,000,000 refs was to be paid, the Govern•
atent would r(ceive the whole amount in about six-
teen months. It may, therefore, be reckoned that
the paper-money will in the next year be diminished
one-fourth (the discount experiencing in conse-
quence a gie,t reduction), and, perhaps, be entirely
redeemed, since its amount is hut little in compa-
rison with the quantity of coin in the kingdom ; and
the great resources which the introduction of a bet-
ter system in the distribution and collection of
taxes, and in the conduct of the various branches
of the administration, will place at the disposal of
the Government. Already the effect of these salu-
tary measures begins to be felt ; and, the discount
of the paper money has fallen to 16 per cent. from
20 to 25 per cent., between which rates it oscillated
during the whole year preceding the creation of the
Bank."—Times.

Sourie, at Cable Head. An American schooner,
laden with fish, on the bar at St. Peter's. The
schooner Two Brothers, of Marblehead, Massachu-
setts, on Point de Roche. A schooner is said to be
foundered off Savage Harbour, the top of her masts
visible. Seven other vessels lie stranded between
Savage Harbour and Big Pond, let. 44. As yet,
we have heard of only two seamen being lost."