The Sun.
London, England, 1858-05-10 00:00:00

TEE FINANCES OF THE CORPORATION
OF LONDON.

The following is the report on the subject of the
revenues of the corporation. They have, it appears,
incurred prodigious liabilities. Within the last 10
years they have expended upwards of 915,0001.
over and above their income, 550,0001. having been
expended iu the Cannon-street improvements,
450,0001. on the new market, and 270,0001. in the
Clerkenwell improvements, the entire returns from
which do not now amount to upwards of 9,0001. a
year, including the ground rents and the tolls of
the old Smithfield market. It i 3 understood that
all the ground rents of the Cannon street improve-
ments now remaining unsold will be disposed of and
upon the sale of the surplus ground in Clerkenwell
' being completed sums will be realised in diminu-
tion of the aggregate debt, so as to leave the defi-
ciency of the whole improvements upwards of
900,0001., the sum for which the debts have been
contracted.

"We whose names are hereunto subscribed of your
Special Revenue Committee, to whom, on the 15th day of
October, 1857, it was referred to prepare and submit for
the consideration of your hon. Court such plan as we might
recommend for regulating the financial affairs and accounts
of the Corporation in conformity with the suggestions con-
tained in our report of the 24th day of Sept. last, and also
to suggest any plan we might deem advisable to improve
the revenues of the Corporation and reduce its expendi-
ture, do certify that we have proceeded therein and have
bestowed our anxious attention to the subject, for the pur-
pose of preparing and submitting a practio' 1 scheme for
effecting the views set forth in our report before referred

to.
" In dealing with a question of such importance we felt
that too much caution could not be exercised, and we have
therefore carefully deliberated upon each of these sugges-
tions which we now submit for the consideration of the
Court. _ _

Some of our propositions contemplate material altera-
tions in the mode which has been hitherto adopted of ap-
plying the resources of the Corporation and dealing with
the funds at its command and under its control. We have
not agreed upon any ono change without tho firm convic-
tion that tho adoption of it will tend to produce most bene-
ficial results.
" In our former report we endeavoured to clear away
the doubt and mystery which seemed to surround, at least
in the opinion of many members of your hon. Court, the
state and condition of the corporate finances.
" We now lay before the Court suggestions which, if
perseveringly carried into execution, will, we are persuaded
produce a far more satisfactory feeling than has existed
and greater confidence in the future prosperity of the reve-
nues of the Corporation. In some of the cases dealt with
by your committee the figures may represent no great va-
lue, but we attach more importance to the principles in-
volved than to the amounts which at present are capable of
being applied in exemplifying them.
" Although there remains before your committee a wide
field for investigation in examining the expenses incurred
in the various departments of the Corporation, we were of
opinion that as a long period must elapse before the in-
quiry would be completed, it was desirable that our pro-
eudings' so far as they have at present extended, should be
reported to this hon. Court.
" We now invite the special attention of this hon.
Court to the following suggestions