The Sun.
London, England, 1856-05-20 00:00:00

'RANCE.

"i a 3 ;4 . yon
.7,
Rate 7 ›. al
Pnblio r., ~.9. g,"Ei. ,
Year. Total. per „ r
az.' Debt. .0 0 a
:e..-4 8, .t, Head. :;-1;,.1
Mit .1 a El -;...
A Ca ,•,,, ;ii
____.• _____. _________ .....____ ______.......... ____..... ____
• £ £ £ £ eg dXs.d.
1852 15,954,982 16400249 24,954,7911573700',3 112 0 1 3 1
1853 14 975,380 16721704 25,783 720157440807 112 113 10
1854 16,710,005 30920658 27,376,923175007582 1 1111 12 7
1855 16,734,818 176700001 24 291, 35467346179 f i 1 11 1 3j2 7
80r.Oqf 0 , I 1 7 1 3
.1. will only trouble tho committee with one other compa-
r:son—namely, that of Prussia. I take that to be an eco-
nomicf-2. Government, in which the expenditure is kept
within, the smallest limits :
PRUSSIA.
. .
Pg ::i 6 sow
0 4)
,_, , Rate it -..
l'zar Public r.,f,,..-6
-1 7..' Total. per t; u
Debt, rs ,di •? 5
t 2 4a. Head. '•3z,
Al nil, t
A A I'. x
Ada
....______
£ £ £ £ £ s. d. .6 p.(l.
1855 1,792,955 4,333,634 10,569,687 16,696,236 rl9 3 1 17 3
---

Those comparisons will, I thick, mike the committ,.
cline to the conclusion that, if we leave out of our collar
deration the great annual charge occasioned by the public
debt of this country, the portion of public expenditure
within the control of Parliament is reduced within reason-
able and moderate limits. There is no doubt that the large
amount of revenue which it is necessary to raise in order to
meet that great expenditure compels us not unfrequently
to maintain duties at higher rates than we should other-
wise desire to do. For example, the duty on tobacco is
maintained at a rate which is exorbitant when co npared
with the price of the article. (Hear.) It is the constant
cause
-of smuggling, and necessitates the maintenance of a
large coastgnat d to protect that branch of revenue. (Hear.)
There is another article upon which it weal be desirable,
upon international grounds, if the exigencies of the reve-
nue would permit-, to make some diminution. I mean the
article of wine. (dear ) For the purpose of increasing our
commercial relation with France and other States of the
centinent, it would be undonbtoilly advantageous if, con
sistently with the demands of the revenue, it were in our
power to reduce the duties on wine ; bat, looking. to the
great amount of our revenue which is derived from beer and
spirits, and remembering that if the duty on wino, which is
alreadY's moderate duty, were much reduced it would iv-
terfere with the consumption of other fermented liquorsel
think the revenue would suffer more than the demands of
the public service weal
which ttermit. Thus: is another duty
is no doubt inconveniently high, but which, in the
present stets of
the revenue, Ido not see how to alter. I
mean the dirty on fire insurances. That duty produces a
revenue cf about 1,e0),0031
or 1,400,000 Z. It has been.in
existence since 1782. It hes stooci at its present rate since
the peace, and altheugh it is open to many objectionre:-31-
though it reeweseee the prudential motives of insurers, and
although it is a duty which, up n many accounts, it would
be desirable to reduce, I It, not see holy in the present
state of the revenue, it would be possible for her j
M estY 'F4
Government to propose it as a subject of mitigation.ion.
have now laid before the committee a statement of the esti-
mated revenue and expenditure for the ensuing year. anti
I have added such rernarke as it appeared to inn my dee,
to subunit for the information of Parliament. It hes bee'n
my object to give full information upon all matters which
it is material Parliament should know in the present state
of public affairs. All reserve and concealment would be
misplaced on occasions of this sort. The time has long
public are not to be trusted with a knew-
gone by.when the
ledge of their own affairs, and it is of the utmost import-
ance that the financial state of the country, resting as it
does on a perfectly seeure b,sis—founded upon the increas-
ing trade of the country and the untiring, energy and indus-
trypeople—should be known not only to the popu-
lation of the
but thronghont the- whole world. I
of England,
have made this statement, relying upon the fairness of the
house in forming a plan which I have submitted to it-3
plan which does not involve any departure from the exist-
ing principles of our financial system, and which is intended
merely to supply the deficiencies of the year by the re
Sources which I have laid before the committee. In pre-
paring this plan ler Majesty's Government have been most
anxious to arrange such a system as would be snited to the
exigencies of affairs, and I rely with confidence on receiv-
ing the support of the house when it has examined in all
its details the plan which I have now had the honour of
submitting to it. The right hon. gentleman concluded by
moving the following resolutions :
" That, towards raising the Supply granted to her Majesty,
the sum of 5,000,0001. he raised by annuities.
"That every contributor to the said sum of 5,0.'0,000/.
shall, for every 1002. contributed and paid, be entitled to the
principal sum of 1071. 10s. 7d. in annuities after the rate of
3/. per centum, to commence from the sth day of Jan., 1856,
and to be added to and made ono joint-stock with
the existing consolidated 31. per eentum annuities,
and to be payable and transferable at the Bank of England
at tile same tithes and in the same manner and subject to the ,

,ee in