The Sun.
London, England, 1832-02-07 00:00:00

o be, pursued- During the lot year. the Noble Lord had
Made four financial statements, or rather four edi.ions of
statements, varying from the editions of other work in
this point, that instead of containing further materials, the
materials in one edition after the other were retrenched
and corrected. Under each of these arrangements, the
Noble Lord contemplated a surplus revenue; and he (Mr.
Goulburn) congratulated the country that the Budget, as
originally proposed by the Noble Lord, was not persevered
in. For the Noble Lord and his colleagues, with
a rashness and temerity which astonished not only
him (Mr. Goulburn), hut every sober man in the
House, had, in the first instance, proposed a Budget,
which, if it had been persisted in, would have occasioned
a deficiency probably double or treble that which at
present existed. When the N,,ble Lord, however, brought
for .vard his final Budget be (Mr. Goulburn) said that he
was persuaded it was founded on a very erroneous calcu
lotion, and that he was apprehensive the surplus would b-
eery small, if indeed there was not a deficiency. To this
the Noble Lord made answer (and the answer was by
many persons considered very satisfactory), that his calcu•
lation had no references like the calculations of the Chan-
cellors of the Exchequer of former years, to a long period,
liable to numerous accidents affecting our resources—that
he calculated at the expiration of three-fmrths of the
year--that his Budget, therefore, only anticipated one-
qu wter of the year, and could hardly be erroneous. He
(Mr. Goulburn) confessed he did not entirely abandon
his fears ; hut the countenance of the Noble Lord, and the
reesons which the Noble Lord urged. induced him to en-
tertain some doubts whether he might not be mistaken.
Subsequent circumstances, however, led him more than
ever to believe that he was right. The. House were pro-
hahly aware of the view taken of the state of our finances
in another place by a Noble Duke, who had been First
Lord of the Treasury, and who expressed his apprehension
that the calculations of Government were not well founded,
and that there would not be any surplus. That Noble Duke,
net more distinguished by foresight in his military charac-
ter than for his power in civil affairs of anticipating the ef-
fect of any measures that came under his notice--(Hear,
hear)--maid that on the best view he could take of the
ferances of the country, the surplus, if any, would not ex-
ceed 10,000/. But the Noble Duke was met by the First
Lord of the Treasury in terms which, if the House per-
mitted him, he would read ; for he was very unwilling to
incur the least danger of misrepresentation. The Noble
Carl's words were—" The Noble Duke had stated what
was the amount of the expenses of the last year, and what
were the means of meeting it ; and he states that a con-
siderable surplus of revenue remained undisposed of, and
has entered into calculations to show that, for the current
year, the surplus will amount to no more than 10 0001
Now, ley Lords, after making allowance for the loss sue-
t tined by the repeal of the coal tax and every other less
peculiar to the year, I find that the surplus will amount to
at least 493,0001." Then came a striking paragraph :
" The Noble Duke finds fault with us, which is nothing
more t- an Le has always done. But, my Lords, we are
now speaking after three-fourths of the year has elapsed.
Weil, we can speak with certainty as to the amount of
revenue received during those three-quarters ; and as to
the probable receipts during the quarter now running, w•
can speak with the same degree of certainty in comparison
with the other three-quarters, and we know the amount
of the set vice required during the year we are now in."
In a subsequent passage the Noble Earl repeated this state-
ment in still stronger terms :—" Now, as to the expen
diture, judging by the three-quarters which have gone by,
we are enabled to calculate pretty accurately what it will ,
he far the whole year. The total expenditure for that
year (comprehending the interest and management of the
notional debt, funded and unfunded, and the expence of
the army, navy, ordnance, pensions and all other
charge'.), we estimate in round numbers at 46,756,0130/.,
which will leave a surplus of 493,000/., so that your
Lordships will perceive, that estimating the receipts of the
quarter yet to come, and the expenditure of the quarter
yet to come, by the actual receipts and expenditure of the
three quarters already past—which I think is not an un-
fair mode of forming a judgment—we calculate with con- 1
fi,lence that the surplus of revenue above expenditure on
the year will amount to 493,0001., instead of 10,000/.,
as stated by the Noble Duke. The calculations on which
this conclusion has been come to, were taken under as un-
favourable circumstances as they well could be taken. It
might he possible for me to take credit for a much greater
sum as surplus revenue, but I trust I have stated enough
to convince your Lordships that the financial interests of
the country have not been neglected, and that the country
is not in a situation in which it ought to be considered as
incapable of meeting any expenditure which has occurred,
or which is at all likely to occur."—Again " I hope
that I have sufficiently shown the result—founded on a
knowledge of the receipts and expenditure of the three
last quarters—that there is a surplus revenue of faur
hundred and ninety-three thousand pounds. If 1 wished
I might have stated the result more advantageously to
myself, and made the excess appear greater." Now, he
begged to ask what must have been the anticipations of
tl.e country from such a speech as that made by the First
Lord of the Treasury ? That, of course, the Noble Lord
had made an accurate calculation, and that the surplus
would be such as he had stated. At what period was
the Noble Earl's speech made? Not like that of the
Noble Lord opposite, seven days before the quarter day,
when the accounts of the year were made up, hut on the
17th of October, seven days after the accounts of the income
and expenditure of the year had been actually made up at
tie Treasury. Shortly after the Noble Earl's speech appeared
a notice in the Gazette, that the Lords Commissioners of
the Treasury having certified to the Commissioners for
the reduction of the national debt, that the actual expen-
diture exceeded the surplus by the sum of 25,537/. 18s. I Id.
the Commissioners would apply no further sum on account
of the sinking fund. That notification was to him (Mr.
Goulburn) a surprise. And surely it must have surprised
the First Lord of the Treasury, who had declared that he
had accurately weighed all the circumstances of the condi-
tion of the country, and that he expected a surplus of
493.0001. To find that from accounts made up a week
previously to his statement, so far from any surplus, it ap
peered that there was an actual deficiency of above 20,0001.
He by no means charged the Noble Earl with any inten-
time to deceive the ceuntry, by making an exaggerated
statement. He had the highest respect for the Noble Earl's
moral character, but he was driven by the facts of the
ease to charge the Noble Earl with an utter neglect of
the duties of his office, and of the necessity of looking
into its details, and stating to Parliament the result of his
examination. He was well aware that the Noble Earl
was in a situation in which he had high and laborious du-
ties to fulfil, but he must also say, that, of all those duties,
no one was so important as a due attention to the tiaances
of the country. It was true the Noble Lord might have
been engaged in assisting the Noble Paymaster to frame a
new Constitution—or in assisting the Noble Secretary for
Foreign Affairs in those Conferences ie which lie bore
so distinguished a part—(Laughter)--or in assisting
the Premier in the di-interested distribution of patronage
to the very numerous relatives and connections and friends
of the First Lord of the Treasury - (Loud laughter and
etreers)-e.hut he could not avoid thinking that the Noble
Loud wz;nld have b,,st consulted his own character as a
Statesman, and the interests of the country, if he bad con-
descended to go down to the Treasury and look a little into
the accounts of his own particular department, so as to
be able, when he appeared before that House, to give
statements not calculated to display a delusive advent •ge,
and terminate in the disappointment and injury of the
people..--(Hear, hear, hear.) The statement he had
alluded to took place on the 17th of October. It de-
clared a surplus, which it was necessary afterwards to
eonsradict in the Gazette. And he thought the Noble
Lord (Grey) hada right to complain of his colleagues in
office for not informing him of the error into which be
had been betrayed.--(Loud cheers.) Was it possible that
in such a Cabinet there was no one capable of giving the
Noble Lord one moment's salutary advice.---(Hear, and
laughter.) Surely his Noble Friend (Lord Godelich)
who had been bred up in a school wherein it was under-
stood, that if you attempt to administer the finances of
the country, you must at least read the accounts—(Great
cheering)—surely he who had been so long himself a
Chancellor of the Exchequer, could not possibly, if the
accounts had been laid before the Cabinet, after the same
manner as all preceding Administrations, he could not
have stood by and permitted the Noble Earl to fall into
that mistake,—(Cheers.) Even the Right Hon. Secretary
opposite must have felt it his duty to inform him that he
was in error. But no, this could not be the case ; for
Parliament met again on the 18th, the 19th, and the
20th. And yet no member of the Administration—no
supporter of the Government, ventured to hesitate or doubt.
--(Cheers.) Then look to the speech from the throne.
Here, though Ministers seemed to be sadly puzzled, there
was very little, indeed, about the financial steee of the
country. They heard a great deal of the Bankrupt
Bill,—(Hear, and laughter.) Thu Game Bill was highly
lauded.—( Hear, and laughter.) But nothing was said
about the revenue, except that the expenditure had been
greater than was anticipated. But yet it was trusted that all
the necessities of the country would be adequately provided
for without the imposition of any farther taxes. He
hoped the House would not condemn him for taking the
Bret practical opportunity of calling their attention to this
subject, and of giving the Noble Lord an opportunity
of setting right his financial character, and removing those
regrets and apprehensions which prevailed amongst the