The Sun.
London, England, 1860-02-10 00:00:00

THIRD EDITION.

•
Share! Railways. I PMd. i Cprilceing Indian done

Atlantic &St Lawrence a
Leased at 6 per cent
It om.,Baroda&Cent.lnd
gu. 5 percent
Do. Addit. Capital A
Do. Do. P 11
Buffalo and Lake Huron al
Do. New al
Do. Preference
Buffalo,Brant.&Gottrich, 1 11
6 p. et. bds. 1 Aug., 18721
Do. do. 1 July, 18731 10
Do. do. 1 June, 18741 10
Clcutta.&S. Eastrn. Lire. 1.3
Cape,Eastn.Prov.(Lim.)
Cape Town & Dock Scrip' 31
Central Oude (Limit)i3s.l
Ceylon Guaranteed 6p.c
Demerara
Eastern Bengal.gu.sp.c
East Indian, ga. sp. c lO
Do. F Shares Ext ll
Do. Jubbulpore
, Do. 44 p. c. Debentrs al
Do. 5 p.c. Deb., 1864 ll
G eelong& Melbourne ..
Geelong Corporation 6 11,
percent. Bonds
Grand Trunk of Canada 10
Do. 6 per cent. Pref al
Do. 6 per cent. Debentr al
Do. 7 per cent. 1862
Do. do. 1867 al
Do. do. 1872 al
Gt.lndiaPenin.gua.sp.c. 10
Do. New, gua.s per cent.
Gt. South. of Ind.Lim.--i
guaranteed 5 per cent
Gt.W. of Canada Shares

HI 90

SUN OFFICE, Seven o' Clock.

!00' 96 97

;d #di
41,

II 16i 6

par }p

1i 1

Do. New

De. Bonds pay. '76,with 1 a
opt. till '6O
Do. do. '73 till '6O a
Do. do. '73 without opt ! a
Do. 4 p. c. do. '77 do
,Madras, guar., 4 p. c lO
I Do. do. 5 per cent lO
IDo. 44 p. c. Extension lO
Do. Third Ex. gua.s.p.c lO
Do. Fourth do.
Do. do.
Kolb. Corp. 6 p.c. Bonds 10
Newßrunswick&Ca.nda.
Ry.litLand(Limig.6pc
Class ACapitl.Share a
Do. do. Land do
Do. Do. do. d d
do. BEaCoapitao.
Capital do I a!
Oude (Limited)
Scinde a43l al
Do. New R 0 11
~. b
Do. Punjaub
Do. Indus. St. Flo &" a'
St. Andrews & Quebec A 11
Trinidad(Limited)Scrip

THI SUN, LONtION, PRIDAY EVENING, FEBRUARY 10, 1860.

[To be continued in a later edition.]

with the packet service, amount to 29,700,000/,
showing an increase of 3,618,0001 upon the military
estimates, in the same sense of the term Toted last
year, and an increase of 2,448,0001 in the estimate
for the current year. (Hear.) The miscel-
laneous civil estimate is 7,500,000/, being
a decrease upon that of last year of
325,0004, and this I hope to increase by the labours
of the committee which the house has shown a
disposition to appoint. Another item is estimated
at 4,700,000/, and the total of the six
sums I have stated, including. the Post-
office department, gives a total of 70,100,0001.
Now, when I look at the estimated income for
the coming year, it is a matter which at the first
view is not very satisfactory. I shall assume that
the committee will think it right to renew
the taxes on tea and sugar at a rate not
less than they adopted when last considered.
Approaching the subject from that point
of view, I estimate the Customs' revenue at
22,770,0001; the Excise at 19,170,0001; Stamps,
8,000,000/; Taxes, 3,250,0001; Income-tax (that is
to say, for one half-year still outstanding
at the rate of fivepence) 2,400,0001; Post
Office, 3,400,000/; Crown Lands, 285,000/; and
Miscellaneous Revenue 1,500,000/. The total
of these receipts would be 60,700,0004, while
the total charge I have exhibited is 70,100,0004,
showing an apparent deficit of 9,400,0001.
In the charge of 70,100,000/ we get the '
benefit of about 2,000,0001 of annuities
which will lapse during the year, and I am
bound also to say that I am not in a condition
to ask you to do what might be des'rable,
namely, to make provision for the payment of
1,000,0001 of Exchequer Bonds due in November
next. The Suceeseions Duty has failed to
produce the amount which was expected
Instead of being able to apply the surpluses that•
that had arisen to the ordinary purposes, they were
compelled to apply them to extraordinary objects.
They had to take into account the expense that
had resulted from the Russian war, which exercised
such a drain on their income, and had disturbed
all the calculations of a financial character that
had been made. On the whole, the country
stood in a worse position in regard to expendi-
ture, as compared with 1853, of £2,720,000,
but the difference had been compensated
by favourable results that had been realised
during the last two years. That result was the
system of financial policy, in which with a timid
hand he had taken part, and the consequence
would be that there would have been a largo
surplus in favour of the country, had it not been
for the war, and other circumstances to which
he had already alluded. He contended
that the result of the income tax showed
that there had been an increase in the wealth of
the country. He put out of question the schedules
C and E, but confined his deductions to the other
schedules, which represented the wealth of the
country, and comparing it with the relative periods
when it was in operation. Since 1843 it was evi-
dent that their had been a large increase
in the wealth of the country. In 1843 the amount
realised from these schedules was 154,0001; in 1844
it was 172,000,000/ ; in 1857 it was 191,0001; and
it had risen in the present year at the rate of
161 per cent., while from 1842 to 1843 the
increase had been at the rate of 12 per cent.
The expenditure of the country, however, had in-
creased at a very rapid rate, and there was at pre-
sent a deficit of 9,400,060/ to be supplied. He did
not mean to say that the expenditure khight
not have been reduced, but with that
deficit they were called upon to deal. It
was said that a system of commercial improvement
was suited merely to times of ease and financial
prosperity, but that doctrine he repudiated. (Hear,
hear.) He believed that such improvement was
the proper means by which they were to deal with
the crisis at which their fiscal position had arrived.
No doubt it was desirable that the duty on tea and
should be reduced, but it was not now proposed to
adopt that step, and he must call on the
house to continue this duty for another
year for the period had not arrived
when the Government were in a position
to deal with that tax. The policy
which he would ask the house to adopt, was an
extension of the principles of free trade. When the
house consented to abolish the duty on corn the

LONDON GAZETTE-( THIS EVENING.)