The Sun.
London, England, 1858-10-01 00:00:00

THE SUN.

FRIDAY, OCTOBER 1, 1858.

The Revenue Returns for the financial year, half-
year, and quarter, which terminated yesterday,
are once more before us, and we may say that they
are quite as good as could reasonably have been
anticipated. It is true that there has been a great
diminution in the national income—that our
receipts during the past year have been in round
terms six millions (X 6,017,162) less than in the
preceding one—the receipts having been during
that which has just terminated £65,161,499, while
those of the former were £71,178,661.

The falling off is, however, fully and
satisfactorily accounted for. We have had
fortunately but few extraordinary demands
during 1857-8, and, consequently, the Chan-
cellor of the Exchequer has been enabled
to deal liberally with the tax-paying community ;
and even a portion of the outlay that has taken
place will be recouped by the Chinese indemnity.
It must be borne in mind that the war 9d. was
struck off, and that it is only within the present
year that the tax-paying community have ex-
perienced the full benefit of the alteration. A fur-
ther reduction was effected last session by the
munificence of Mr. DISRAELI ; but the effects
thereof will only be perceptible next year, when
the people are no longer tortured by the financial
screw or the stringent applications of the tax-

gatherers.
The Customs have improved within the year,
and considering that the first quarter was marked
by a financial crisis of an extraordinary character
—that only £5,590,018 were received, against
£6,232,175 in the corresponding quarter of 1856
we must be agreeably surprised to find an increase
on the year of more than £366,000, or a thousand
pounds a day in round terms. The improvements
on the half-year and quarter are, however, far
more satisfactory. On the half-year it is £363,727,
while on the quarter it is no less than £634,037.
When we consider that this is the test of our com-
mercial relations with other nations, we must con-
gratulate ourselves on the satisfactory state of
affairs proved to exist by the most unexceptionable
evidence, viz., that of facts and figures.
In the Excise there is an increase on the year of
£212,000, but a decrease on the half-year and quar-
ter—on the former of £94,600, and on the latter of
£213,000. This is the more to be regretted, as the
returns under that head are generally regarded as
indicating the degree of comfort and prosperity
enjoyed by the labouring population. It, however,
to a great extent may be satisfactorily accounted
for. There has been a postponement of the collec-
tion of the hop duties, and an alteration of that of
the spirit duties. Other influences, which gave
additional facilities to the contributors to the
revenue iii—these departments, have also been in
operation, and, on the whole, there is no reason
for forming an unfavourable opinion in consequence
of the diminution in the domestic taxes on homely
comforts.

In Stamps there are improvements on the year,
half year, and quarter, of £382,120, £312,624, and
£78,745 respectively. The latter may, in a great
degree, be ascribed to the tax on cheques intro-
duced in the last budget, which seems fully to
verify the calculations of the Chancellor of the
Exchequer.
In the Assessed Taxes there is an increase on the
year of £37,013, but a decrease of £16,000 on the
half-year, and of £lB,OOO on the quarter. This,
however, mainly depends on the stringency of the
collection, and does not materially indicate the
general prosperity of the people.
The great changes are in the Property and In-
come-tax, but fortunately they are not produced by
any failure of resources, but in the most legitimate
and satisfactory manner—by the reduction of
taxation. Not only the war 9d. but an addi-
tional 2d. have been relinquished. The latter has
as yet scarcely come into practical operation,
but the full benefit of the former is now expe-
rienced ; and inasmuch as each penny in the pound
was estimated to produce £1,000,000 sterling to
the Exchequer, we must be well pleased to find
that the loss on the year is but £7,900,399, or
nearly £1,100,000 less than might have been anti-
cipated, while that on the half-year is £3,733,490,
and on the quarter £2477,537 The- loss on the
year is, however, made up to the extent of nea4ly
£2,000,000, that of the half-year to more than