The Sun.
London, England, 1867-05-18 00:00:00

THE SPANISH BUDGET.

A letter in the Moniteur of yesterday, dated
Madrid, May 14, states that :
"The Cabinet has just presented to the Cortes the
Budget for 1867-8, and this document is preceded
by a lengthy statement, in which Senor Barzanal-
Lana, with honourable frankness, sets forth the diffi-
culties of the Treasury, and boldly points to retrench-
ment and reform. The minister, observing that the
effect of the law of August 1, 1851, relative to the
public debt has been to exclude Spanish stocks from
the various European Exchanges, insists upon the
necessity of giving s Ltisfaction to certain categories
of public creditors in order to reopen the principal
markets and re-establish Spanish credit abroad. The
completion of the great railway lines has not only
arestedthe influx of money from abroad, but has led
to a considerable drain outwards, on account of
the payment of dividends. The general crisis of 1866
lid not fail to aggravate the difficulties of the situa-
tion, for which it has become imperative to afford a
remedy. Instead of ordinary, extraordinary, and
supplemental Budgets, the Minister submits a single
Budget to the Chambers, setting forth the antici-
pated receipts at 128,439,085 piastres, and the
expenditure as 131,973,388 piastres—nearly
605,000,000 f. The Budget, therefore, exhibits a
deficit of 3,534,303 piastres. For a nation of 16
millions of inhabitants, possessing a soil of such
varied fertility, a Budget of little more than 600
millions of francs is not very exaggerated, and the
charges which it imposes would seem to be quite
within the productivepowers of the country to meet.
It must, however, be remembered that 10 years
since the Budget involved an amount of only 1,500
millions of reals, instead of 2,640,000,000, and, not-
withstanding reductions to the extent of 110,000,000
in the present Budget, further savings might be
effected in various departments which it would be
easy to discover. We hear, indeed of the suppres-
sion of the Royal printing-office, of several con-
sular offices, of three legations, of four universities,
and of some branches of the appeal courts. But
these are only partial measures, and in the interest
of the Treasury it iwould be preferable to adopt a
general system. Every one admits that without in-
jury to the suitors the number of tribunals, Royal
courts, Captaincies-General, . Prefectures and Sub-
Prefectures, and even bishoprics, might be dimi-
nished, due regard being paid in respect of the latter
offices to existing rights, and an arrangement being
effected with the Holy. See. The Minister has not
overlooked the fact that the extraordinary resources
derived from the surrender by the Queen of up-
wards of 100,000,000 f. of her patrimony, and from
the sale of ecclesiastical property, are not inexhaus-
tible, and he has sought at the same time to satisfy
arrears, to meet the deficit, and to provide for the
future by the imposition of new charges. Thus he
proposes a deduction of 5 per cent. upon all sa-
laries, rentes, and dividends, and other Royal,
provincial, or municipal payments, upon bond
shares and bonds or State securities, also a new.
mortgage duty, a sumptuary charge upon horses
and carriages, and finally the addition of a tenth to
direct taxes. It is to be hoped that the vote of the
Parliament will enable the Ministry to carry out its
financial projects. The peace of Europe, assured
by the wisdom of the great Powers, will enable
Spain to devote exclusive attention to internal im-
provements. The special Budget of the War De-
partment has undergone considerable reduction.
With respect to the Navy Estimates, an eventual
or supplemental reserve, amounting to 8,000,000 f.,
has been made to meet possible demands which may
arise in case of the persistence of the South Ameri-
can Republics in rejecting the generous mediation
offered by the great maritime Powers. The Cortes
will proceed at once to consider the Budget, and
there is little doubt that this important duty will
put an end to the apparently interminable discus-
sion in the Senate concerning the Bill of Indemnity
which was passed by the Chamber of Deputies a
month ago. The protracted debate, after having li
caused the retirement of the venerable Marquis
de Miraflores, who was succeeded in the Presi-
dency by Senor Seijas Lozano, has induced the
Ministry to propose a bill modifying the inter-
' u‘d regulations of the assemblies. By this bill the
President will be invested with more extensive
power; the Bureaux will nominate commissions;
speeches must not exceed two hours' duration ; in-
terpellations must be furnished in writing before-
hand to enable the Ministers to reply to them with
exactness the presence of the Ministers will not be
compulsory, and they may appoint commissaries to
represent them ; bills drawn up by members must
be approved by five Bureaux out of seven; two
amendments only will be allowed to be discussed ;
and, finally, the reply to a message from the Crown
will only allow of one amendment and a single
speech. What is now occurring in the Senate shows
how necessary it is that the session should be exclu-
sively devoted to considering the affairs of the
country. Among the recent acts of the Govern-
ment tending to the encouragement of commerce
and our international relations may be mentioned the
reduction in the tariff for telegraphic despatches,
the conclusion of the treaty with Japan, and that for
a postal convention with Italy. The extension of our
intercourse with other other countries is shown by
the statistics of the Customs' department for 1864.
In that year our exports amounted to nearly
2,000,000,000 reals, while our exports exceeded
1,412,000,000, showing an increase in our general
commerce of 220 per cent, as compared with 1849.
England holds the first rank and France the second
upon the records of our commerce. In round num-
bers we have supplied the latter nation with our
products to the value of 100,000,000 f., and we have
received 125,000,000 f. of theirs. The figures in
relation to Great Britain are about one-fourth
greater."