The Sun.
London, England, 1858-04-21 00:00:00

THE BUDGET.

(From the Tunes.)

The Chancellor of the Exchequer on Monday even-
ing essayed no high flights of finance, and the re-
suit has been that the Budget has given general
satisfaction. As the deficiency to be provided for
mainly arose from engagements to pay off loans, of
course the raising of a fresh loan, instead of resort-
ing to a prolongation of the old ones, supposing
such prolongation legally practicable, would sim-
ply have been to create idle complications. On the
question whether the pledge given by Mr.• Glad-
stone that the country should annually effect a cer
tain reduction of the national debt should be re-
deemed by breaking the other still more solemn
pledge on the part of that gentleman for a gradual
mitigat'on of the income-tax there was likely to
be little difference of opinion. If any scheme
had been brought forward for a more just ap7
portionment of that tax the country would have
been willing to accede to it, but in its present
form it will deservedly prove an embarrassment
to every Minister who may endeavour to
augment or even to maintain it. At the same
time satisfaction is felt at the final blow
apparently now given to the undignified system of
binding the nation, by the establishment of a fixed
sinking fund, to redeem annually a specific portion
of debt, whatever may he its disposition or ability
to fulfil the task when the time comes round. The
wise never make any pledge for the future, but
content themselves with the resolve that when the
hour arrives for them to decide upon a course, and
they have all the proper means before them of
estimating their position, they will come to the
best conclusion their judgment and conscience may
then prompt. The same rule should be applied to
the nation, unless we are to be encouraged to take a
lower tone and assume the existence of that moral
infirmity which requires people in lucid moments to
tie themselves against the exercise of independent
judgment at a future period. With regard to
the expediency of abolishing the differential rate
in favour of Irish spirits it is needless to say there
cannot at the present day in commercial circles be
room for the slightest discussion ; and finally,
although the proposition for a penny stamp on
checks is likely to meet with most active and well
arranged opposition from two or three select bodies
of persons comprising especially the London
bankers and the members of the Stock-Exchange,
there is reason to believe that the impost would
soon be found by the nation at large to be one
of the most satisfactory and progrecsive ever
adopted. Every objection that could be made
to it has been answered over and over again
during the past twelve years • and as Mr. Die
raeli seems prepared, after the experience of the
opposition to the penny postage, and penny re-
ceipt stamps, to take his stand on the proposal
and to insist that it shall have a fair trial,
we may hope the country will at length get
the benefit of this long-desired expansion of the
system by which great and constantly increasing
results are achieved through meaus almost imper-
ceptible, and which, owing to the extent of the
field of distribution, scarcely occasion a conscious
ness of taxation. On the whole, therefore, the
statement, while it involves none but the most
ordinary arrangements, may be pronounced prat,"
tic l and sound. The degree in which this viol:
prevails has been manifested to-day in the prices of
the funds, and as the only opposition to any por-
tion of it is likely to proceed from certain limited
classes of business men, who, from the character of
their profits and transactions, should be the last to
be influenced by small considerations, it is to be
hoped the general public will be sufficiently keen
to insist upcn its being adopted in its integrity.

Country Markets.

LIVERPOOL, APRIL 20.

There was a very poor attendance at our market this
morning, with a very slow sale for both wheat and flout;
the former declined ld to 2d per bushel and the latter 6d
per barrel and 18 per sack. Oats have advanced again ie
per bushel, B.nd meal scarcely maintained late prices. Ber
ley and beans 2d par bushel and is per qr over the prices
of last Tuesday. Indian corn was in more request for
Ireland, and must be quoted 61 to is higher. Black Se*
at 34s 3d to 34s 6d; American new mixed and yellow 344-
white, 33s 3d to 33s 6d per 4801b8.