The Sun.
London, England, 1861-04-01 00:00:00

a net decrease upon thesse last three months of con-
siderably more than a round million and a half
sterling ! During the financial year terminating
on the 31st of March, 1860, the gross produce was
£71,089,669. During the twelvemonth which
came to a close only yesterday the year's
produce has been less than that by
£805,995, having realized exactly £70,283,674.
Within the last quarter just expired the net de-
crease is set down in division 11. of the Revenue
Tables at no less than £1,683,821. It is in regard
to this alarming diminution that the Treasury (in
point of fact, Mr. GLADSTONE), catching us by the
button-hole, reasons with us deprecatingly, through
the medium of the agreeable little gossip compacted
into the little fly-leaf Memorandum already par-
ticularised, And no wonder the Chancellor of the
Exchequer is' solicitous at once to have "his say,"
thus anticipatively and in a condensed form before
the exposition (in the goodly shape of the Budget)
of his Financial Statement—no wonder, we say, he
wants at once to whisper a word or two into our
ear 133 way of preliminary. For look, first of all, at
the subjoined table of returns for the Quarter end-
ing yesterday—

Increase. Decrease.
£ £
Customs
Excise
Stamps 63,154
Taxes
Property Tax — 1,978,000
Post Office — 20,000
Crown Lands
Miscellaneous — 390,357

Totals
A table showing, as we have remarked, a net
decrease of £1,683,821 ! And having marvelled
awhile over that disclosure, take the next companion
eclairissement, namely, that conveyed to the judg-
ment of poor wondering Farmer BULL through
the medium of this pleasant little epitome of the
increase and decrease upon the year ending yester-
day

Increase. Decrease.
£ £
Customs
Excise — 926,000
Stamps 304,814
Taxes
Property Tax
Post Office 90,000
Crown Lands 6,089
Miscellaneous — 348,483

Totals .. 1,728,613 2,534,608
Shewing a net decrease upon the year as already
notified of £805,995. It is upon these two tabu-
lated portions of the Revenue returns for the last
financial quarter, and for the last financial twelve.
month, that Mr. GLADSTONE has a word or two to
insinuate (betweea this and his Budget) in the
shape of this Memorandum. Turning back to the
Tables already excerpted, it will be seen that the
two most formidable items of decrease fall in the
last year under the head of Customs, and in the last
quarter under the head of Property -tax. The
latter decrease, the decrease within the last
quarter under the head of the Property and
Income-tax, amounting to £1,973,000 in
point of fact, but twenty-seven thousand
pounds less than two millions sterling! Two mil-
lions decrease under the head of one source of
revenue within a single quarter !! The first men-
tioned of these two most conspicuous diminutions
in the revenue being the decrease upon the year
under the head of Customs, a decrease upon the
year to the tune of £1,155,125. Besides which it
may have been remarked in regard to the
diminution of the revenue in the. year that
there is another item of all but " one million "
(£926,000) under the head of Excise, a decrease
within the year under the Land and Assessed
Taxes of £105,000, and a further decrease
within the year cf £348,483 under the head
of Miscellaneous. Summed np with the dread-
ful diminution just mentioned of nearly
£2,000,009 within the quarter under the head
of Income Tax—there is a decrease in the
Post-office returns of £20,000, and a further decrease
of £390,357 under the head of Miscellaneous. Now
the Memorandum, while it steaks of the Post-
office falling off within the quarter as simple, in
one word " accidental"—and while it refers to the
variation (shewn by the tables) in regard to the
Crown Lands as unimportant—and while it
alludes to the diminution within the quarter under
the head of Land and Assessed Taxes, as showing,
after all, but " a very small variation"—Mr. GLAD-
STONE'S curious little volunteered Memorandum
fairly lets the cat out of the bag, in its opening
paragraphs in reference to the real cause of the
falling off within the year of nearly one
million in the Excise revenue and of over
one million in the Customs revenue. Direct-
ing our attention first of all to the
rose colour we are expected to look. through
while examining these returns, the memorandum
reminds us that " the Customs revenue shows a net
increase, on the quarter, of £273,000 arising on
corn, spirits, wine, and penny duties (£400,000),
lessened by a falling off of £127,000 on tobacco,
tea, and other articles." Adding, however, " on the
year, the Customs loss, as compared with the
actual receipt of the preceding year, has been
£1,155,000. This loss has arisen upon the numerous
articles affected by the repeal or reduction of duties."
Precisely. And now for the Excise returns, as
commented upon by the Treasury Memorandum.
Again, the rose colour foremost. " There is an in-
crease," says the Memorandum, "on the quarter
of £366,000, caused by the accelerated payment of
the malt duty (L 350,000) lessened by a diminished
receipt of £200,000 upon spirits, large quanti-
ties of which were removed from bond in
corresponding quarter of last year, in an.
ticipation of an inreased duty.) The Memo-

randum then observing sententiously, " The
receipt upon the year has decreased £926,000, This

decrease has arisen upon malt and spirits. The bad
quality of the barley last year has caused the redue-

tion on malt. The reduction on spirits, has arisen
partly partly from the causes which have affected the

revenue for the quarter, and partly from diminished
eonsumption ; the diminution of the stock of duty-
paid spirits in the hands of dealers has also tempo-
rarily affected the Excise receipts of the year."
The interference of Mr. GLAD3TONE with the
Excise, in fact, has led to the chief part
of this falling off in the year's revenue
under that head as avowedly, as glaringly,
as undeniably as the Customs' falling off is attribut-

able to his sweeping repeals and reductions o:

duties (without any compensative, quid pro quo),

for thegratifieation of our amiable neighbour of La
Gloire, of Cherbourg, of 600,000 men notoriety, that

magnanimous imperial neighbour of ours, for whose
n estimable alliance we are paying annually the

chief part of those £30,000,000 sterling required for
the maintenance and improvement of our war depart-

merits. As to the incidental decrease of very nearly

£2,000,000 within the last quarter under the head

of the:lncome-tax, the Memorandum acknowledges,
as it certainly could not shrink from acknowledging,
that the " decrease of £1,978,000 on the quarter is

owing to the collection of an additional 4d. in the

£1 in the corresponding pager of last year." Just
so. It is a way Mr. GLADSTONE has with him—

an eccentric little way of forestalling the
future—and then, when the future he has

bun looking forward to has become in

course of time the past, he has to deal with, these
charming little self-made difficulties. Out of them
we heartily wish him. But while in regard to the

chief part of those difficulties he has only himself,
he can have only himself, to rely upon—NI e can-
' not but think that Mr, COBDEN ought for once to