The Sun.
London, England, 1857-03-26 00:00:00

TDB FRENCH BUDGET OF 1858.

db.

LORD ZALAIESBURY AND LORD

PALMERSTO37.

" Gentlernen,—We are about to submit to your ex-
areination the estimate of the receipts and expenses pro-
posed for the year 182. Last year, at this period, we
congratulated ourselves with you on the hopes of an
early peace. Peace has been signed—a glorious and
hating one, a work of wisdom rend straightforward
dealing ; a new treaty of Paris, very different from
the cid one, and in which are written by the hand
of France, and sanctioned by all Europe, great prin-
ciples of humanity too long contested, and the
rules, henceforth certain, of . international maritime
lew. At the same time Heaven gave a son to the
Emperor and to France. To these great benefits of
Providence we must respond by moderation and
wisdom. The ensemble of tee budget which we now
submit to you is summed up, so to speak, in the words
of the Emperor at the opening of your session :—'l have
resolved to reduce the expenses without suspending great
public worke, without compromising acquired poretione,
and to diminish certain taxes without injuring the
finances of the State. The budget of 1858 will be pre-
sented to you in equilibrium ; all the foreseen expenses
have been set down in it. The amount of the loans will
suffice to pay the balance of the expenses of the war ; all
services way be assured without our having need to
apply anew to public credit.' As you know, gentlemen,
the year 1856, which bes just concluded; shows a not-
able augmentation in the produce of the indirect taxes
and revenues, and yet the year 1855 was itself excep-
tionally productive. The year 1855 produced
957,600,000 francs, In that sum, new duties figure
for 33,230,0001 r. for ha!f a year. The year 1856
produced 1,033,000.000 francs, in which the new
duties figure for 79,647,000 francs for a whole year.
You wit! remark, gentlemen, that the estimate of the
receipts for the year 1858 has been made with that pru-
dent reserve which last year obtained your approbation.
At the same time, to be consistent with ourselves, and
to obey the wishes of the Emperor, we heye inscribed in
the budget all the foreseen expenses, and. we have set
them down at the true figure, as much at least as it is
possible to do for things to came.
"Suppression of the second war decirne on the regis-
tration duties.—The new war dechne on the registration
duties will be suppressed from Jan. 1, 1858; which wir
he a relief of 23,000,000 f.

"Abrogation of Article 1 of the law of the 6th Prairie.),
An VII, and suppression of the stamp duty en printed
noires and prospectuses.—Art. 1 of the law of the 6th
Psairisl, An VI f, is thus conceived :—'Printed notices,
whatever may Ee their object., which are cried and dis-
tributed in the streets and public places, or which are put
into circulation in any other manner, anal be subjected
to a stamp duty, with the exception of addresses con-
taining the simple indication of domicile or a simple
notice of charge of residence.' Althoush this duty was
reduced by Art. 6 of the budget of the 2810 April, 1816,
which fixed it at 10e. for the whole sheet, at sc. for half
a sheet, at 24a. for the quarter sheet, and at In. for the
half quarter sheet, cards, and others papers of smaller
dimensions, commerce and manufactures have not ceased
during fifteen years to demand its suppression. It pre-
sents the icconvenience of being quite out of proportion
with the value of the object taxed. It quadruples and
even quintuples the price of printed papers ; thus re-
stricting the employment of this useful mode of publi-
cation, it becomes an embarrassment to the deve-
lopment of commerce and manufactures in general,
and causes a real and special prejudice to the print-
ing trade. It is the cbject of numersais frauds, which,
' being exercised on a largo scale, destroy the ele-
ments of just and hone t competition, and favour, to
the injury of honest manufacturers and traders, those
who do not fear to disobey the lam. The laws of the
25:h March, 1817, and of the 15th May, 1848, which
admitted exceptions to the law of the 6th rrairial, An.
VII, gave riqe to incessant difficulties and to disputes on
the application of it. Fresno 1337 to .1850, the produce
of that stamp duty did not exceed annual:3, 500,000 fr. ;
from 1850 to 1855, it amounted to resrly 1,000,000 fr.
But the suppression of it wi”. not cause au equal loss to
the treasury. At precut it is only at the post-office
that contraventions in this matter can be ascertained ;
and in most cases it is private enterprises which, especi-
ally iu towns, aro employed to convey and distribute
printed papexs. From the moment the stamp duty shall
be suppressed the post-office, thanks to the reductions
of postage effected by the law of the 25th June last,
will resume its advantages, and the treasury will find in
the postage a large compensation for what it will leis
by the stamp duty. The repeal of Art. lof the law
of the 6th Prairie), An VII, by removing a permanent
cause of discontent, withock occasioning sensible preju-
dice to the treasury, will give satisfaction to wants aris-
ing from the extension of commerce and manufactures.
We think that this measure will obtain your approba-
-4;.,..

" Nlodifieationq in the law of Jane 5, 1850.—Increase
in the duty on French and fireign transferable securi-
ties.—ln conformity with the wish repeatedly expressed
by the Legislative Body, the Emperor has charged us
t' propose to you to levy a new tax on transferable seat:-
cities. The law of June 5, 1850, established a propor-
tional stamp duty on negotiable share; and bonds of com-
panies. That tox was 50c. per 100 f. on the nominal capi-
tal of the share, if the duration of the co mosny did not
exceed 10 years, and lf. if it was for a longer period.
This proportional tax once paid, the share acquired unc'er
the law of 1850 a double advantage; it had no more stamp
duty to pay during, the whn!e continuance of the c )in-
pany, and was exempt during tile same space of time
from any Tormality of registration in case of transfer.
According to the proviAons of that same lr w, if the com-
panies wished to 'avui:l the payment of the proportional
duty, they might enter into an annual subscription for
the whole period of their duration. In that case they
would have to pay sc. per 100 f. of capital. Such is the
general economy of the law of 1850. IVe continue to
transferable securities all the advantages conferred on
them by that law ; but we propose to convert this pro-
portional stamp duty once paid into an annual and obli-
gatory tax of 150. per 1001. of the real capital of the
share. By that system proportional duty on the issue
will cease, and the subscription which was before
optional becomes obligatory. Different conside-
rations have induced us to recommend this
plan to your serious examination. In the first place, it
avoids the creation and the introduction into our laws of
a new tar, which appears difficult and perhaps even
dawerous. We find, besides, in a 1-tw already ektals-
Hailed, the princii le and the basis of the new duty to he
levied. In the second place, the annual stamp duty
leaves to transferable shares all their liberty, and does
not in any way interfere with the different negotiations
of which they are the object. Maintained, and as it
were embodied, in the law of 1850, it removes all rea-
sonable fear of further increase. Simple and easy of
collection, and moderate in its amount, it will not in any
way impede industrial progress, and its proceeds arc
destined to be increased only by the development of the
object taxed.

like myselF. often supported you in maintaining tho
honour of Eughnd and defending her best iuetitutions of
sacrificing thee to the basest personal motives.
"If the charge had not proceeded from so high a
quarter I should have despised it. I declare it to be ut-
terly unfounded as regards myself, and I believe it to be
equally vo as regard the gentlemen with whom I found
myself in unusual accordance upon the China vote. By
iti very nature it was unconnected with any party creeds
as to religion, finance, or politics, and this is the simple
and true explanation of the medley division that en-
sued.

" The country having been committed, my humble
vote will support a wAr which has now become necessary
to English interests and honour, but which at first might
have been avoided without a sacrifice of either. . .
" I have the honour to rem tin,
" Your Lordship's obedient servant,

" MALMESBURY.
" The night Hon. Viscount Palmerston, K.G."

About 50,0001. in bar gold was taken from the Bank
yesterday f,,r exportation to the continent. 100,0004,
,overeig,s, are said to have been taken by the Govern-
meet this week for transmission to the Cape.
TEE CASE OF FRATRICIDE AT MAIDSTONE.—The in-
quest on the body of Ttesmas Edwards, the young man
who was murdered at Maidstone on the 18th inst., was
resumed yesterday. The father and mother of the pri-
soner, George Edwards, proved that he had taken the
ICZ3 up stairs with him on the day of the murder, and a
policeman deposed to finding it in the bedroom, covered
with blood. A verdict of wilful murder against Geo.
Edwards was returned. The prisoner exhlbits the
greatest indifference, and says he was at Baxley, three
miles off, at the hour the murder took place.
THE BILLS OF, EXCHANGE ACT.—A return lately
moved for by Mr. Keating of the number of writs is-
sued under the Bills of Exchange Act in the superior
courts in 1856, and also of the number of judgments
under the act, &c., has just been printed. In the Court
of Queen's Bench the number of writs issued under the
act in 1856 was 3,399, and the number of judgments
2,950. The total number of writs issued in the Queen's
Bench in 1856 was 29,6071., and the total number of
judgments 11,024. The total average number of writs
issued during the last four years was 24,910, and the
average number of final judgments 9,652. The number
ofjudgmeuts on verdicts in 1856 was 639 ; the average
number in four years being 761. In the Court of Ex-
chequer the number of writs issued in 1856 uncle; the
act was 14,845, and the number of judgments under the
act in the same time 5,961. The total number of writs
issued in 1856 was 45,385, the average of four years
being 38,132 ; and the total number of final judgments
in ,1866 was 16,932, the average being 13,177. The
number of judgments on verdicts in 1856 was 840, the
average being 871. In the Court of Common Pleas the
number of writs issued under the act in 1856 was 4,922
the number of judgments is not returned. The tota
number of writs issued during the year was 17,665, and
the total judgments 6,096. The number of judgments
on verdicts in 1856 was 345, the average being 337.
THE INCREASE IN THE PUBLIC EXPENDITHBE.—A re-
turn lately presented to Parliament by the Chancellor of
the Exchequer of the various sums voted in supplyunder
the heads 'of army and navy, ordnance, and. mil"'
laneous services in every year from 1835 to 1856, iecln
sive, shows the gradual and progressive increase which
has taken place in public expenditure sincethe first
named period. Under the heapd of the Amy estimates,
from 1835 to 1845, the vote varies in each year from
5,793,456/. to 6,364,4261. ; from 1845 tro IhBes4a
rimt vay
ries
mates, including the expense
from 5,979,272/. to 7,167,4861.; in lBsl3todied
n g year were voted svhiph in this and the succeeding year
or nearly double
to-
gether, suddenly rises to 7•
_1
13,
The vote. for the Ordnance
that of any preeedigsYewaras
1,296,0591., from which
Department in it bad gradually increased to
of. the e
Period up to 1853 • •
3,053,5671.
;9990,1651. The total vote for the army
in 1854 it increased to 5,986,6621., and
in 1855 to , • • •
and ordnance. 7,484,3504, from which period up
services, including the commissariat and
militia, was in 1835,
to gradually increased to 14,796,7211., or
about
what it was 19 years previously ; and in
1855 the doubleivt
obad
te w 21,779,6971. which is four times what
in ,
it was 1835 •in 1856 the total vote was 20,478,034/.
The navy estimate for 1835 was 4,245,7231. ; in 1845 i
was 6,943,7204 ; in 1854, 14,812,6091. ; in 1855 it rose
to 19,456,1121. ; and in 1856 it was 16,773,5961. The
same progressive increase is observable throughout every
department. It would be both tedious and unnecessary
to recapitulate all the items. The total supply voted in
1835 was 14,123,2551.; during the next five years---viz.,
in 1840, it had increased to 17,622,513/. ; in 1845 it was
18,735,5911.; in 1850 it was 20,012,735/. ; in 1855,
62,207,8221.,- -that is, it had increased fourfold in 20
years ; in 1856 it was 50,564,6241.
.A. considerable pro.
i portion of the great increase in the liter years is due to
I the exigencies of the Russian war,

" Budget of Receipts.—The estimate of the receipts
for 1858 has been male according to rules admitted last
year, and approved of by you. We have confined
ourselves for this estimate within the limit of the
receipts realised in 1856, and by the provisions admitted
by the budget of 1857. The taxes and indirect revenues
on which this calculation is almost exclusively based
stand in the budget of 1857 for a sum of 1,031,010,000
francs. We propose to you to admit them in that of
1858 at 1,030,340,000 francs. We must add, that in
this total estimate, account has been taken of a diminu-
tion of 24 millions, the causes of which are explained
above, and also of an increase of receipts of 14 millions,
being the probable result of the new duty on transferable
6ecur sties.

"Budget of Expenses.—The budget of 1858 as com-
pared with 1857 pre,?ents an increase of expenses
,of
18,081,526 francs. Different causes have produced
this considerable augmentation ; it !will be suffi-
cient for us to point out the principal ones. The
department of Finance claims for itself alone an
increased expenditure of 27,855,3661 r., in which atuonnt
are set down 5 millions for the Transatlantio Steam-
packets ; 5 millions for annual reimbursement to the
Bank of France on the loan of 75 millions made in 1848
(hitherto this annual reimbursement bad been placed at
the charge of the floating debt) ; 5 millions for the in-
crease of small salmis 's in different branches of the
finance department ; 7 millions for the reserves of the
sinking fund ; and the remainder for other expenses con-
nected with the collection of the indirect taxes. The
department of the Marine receives an extraordinary
grant of 11,251,299 fr., the inevitable results of the wear
and tear of a war, so nobly sustained, and also called for
by the progress every day making in naval science.
"The ways and means of the
budget aro estimated at
And the ordinary expenses at 1,716,986,190

Making a surplus of receipts of 20,128,981fr."
Here follows the summary of the budget which was read
to the Legislative body by the president when the bill
was presented on the 21st, and which was given in this
journal on Monday, 23d. The following are the articles
of the budget which relate to the new duty on shares
and bonds :

"Art. 6. From the promulgation of the present bill
the duties established by Arts. 14, 22, 27, and 31 'of the
law of June 5, 1850, on the shares and bonds of
financial, commercial, and industrial companies are con-
verted into a single obligatory duty of 15 centimes per
annum for every 1001 r. of the capital of the said shares
and bonds.

" Art. 7. For companies created hereafter the duty
shall be determined during the first three years, with re-
spect to shares, according to their nominal capital, and
with respect to bonds according to the rate of emission.
For the years following it shall be levied on the capital
fixed every three years, according to the average price
of the shares and bonds during the triennial period preced-
ing. Fur companies established previously to the pro-
mulgation of the present law the duty shall be levied,
during the first triennial period, according to the aver-
age quotations of the three preceding years. If the ooze"
pany has not been in existence three years, the average
shall be determined on the
since its creation. period which has elapsed

"Art. 8. The amount of the proprelonal (NO paid,
hinyvciormtupeaonfieAs retssialh4lisahnedd 2p7rioefrthtee ltahwe ofp June 5, 1850,
the present law, shall be included in the duties which
they will have to pay hereafter,lin virtue ofrotmheuplgraetcleodninOgi
article.
"Art. 9. Shares and bonds issuea by foreign compa
re
nies shall be subjected, like French, to a tax whichal shall
not exceed 15a. per 100 f. per annum on their value.
A regulation of the public administration shall establish

the proport.on sod tl a manner in which this tax shall b
collected.
The following "Art. 10. The same regulation shall lay clown all the
is the exposs des motifs of the necessary measures for the execution of the present law.
budget of 1858, lately presented to the Legislative".able to a fine of from 50f. to 3001." Art. 11. Every contrarention of this regulation shall
e
Body: The document bears the signature of E. b h
BoinvillierP, President of the finance section of the
Council of State, and MM. Gode:le and Vuitry,
members of the same body :

Lord Ma7melbury presents his compliments to
the editor of The Sun, and would feel much obliged
to him to insert the enclosed letter in his journal.
Wbitebsll Gardeup, -March 25.

I "Lon, Ma. "My Lord,—l am one of those whodon thoughtrch it2s their
duty to vote against your Government upon the China
question, and who have in consequence been exposed to
your public invectives and misrepresentations on the
subject. You have uttered and written these at a mo-
ment when we are unable to reply to them in Parlia-
ment, and I therefore adopt the less usual course of an-
swering you through the press.
" The invective is of comparatively little consequence;
but it is important that the public, who are now occu-
pied with the primary causes and proceedings of the
Chinese war, and who have never read the blue-book '
except in extracts, should know exactly what they were.
Teat blue-book was Sir John Bo wriog's justification Of
his acts.
"It became our indictment against him, and the Home
of Commons upon its evidence gave a verdict against the
defendant.
"Now, that verdict was founded upon what appeared
in the hlue-book as having occurred up to the time it
was produced, and when the events were related accord-
ing to their respective dates. But this undoubted evi-
dence lives in direct contradiction to the statement which.
you make to your constituents at Tiverton.
"To them you write—
"'An insolent barbarian wielding authority at Canton
had violated the British Meg, broken the engagements of
treaties, offered rewards for the heads of British subjects
is that part of China, and planned their destruction by
Murder, assassinations, and poisons. The British officers,
civil and naval, on the station had taken those measures
which appeared to them to be proper and necessary to
obtain redress.'
"Now, my lord, the inference which must be drawn
from these lines is that all those outrages preceded our
seizures of the ships, shelling forte, and bombarding
Canton itself, and were the provocations to our aggres-
sion. This inference is not true, for, with the exception
of the first one—namely, the -supposed violation of the
British flag on board the Arrow, all the others were
subsequent to and in retaliation for our operations con-
ducted without any declaration of war.
"You would make your constituents believe that the
issue upon which the minority in the Lords and the
renjority in the Commons decided was that all the out-
rages which you enunierate could not and did not justify
our hostilities, whereas they only declared that the ori-
ginal dispute of the Arrow did not justify the violence
of our measures—measures which bad subsequently it -
duced barbarous reprisals and engaged us in a sangui-
nary war. That was the real issue and verdict before
Parliament ; but you have, both in your address and in
your speech at the Mansion-house, attempted to mislead
the public as 0 this fact by mixing up the successive
events and confusing the impressions of your audience.
If the blue-book were within their reacn, they would
find that Sir J. Bowr:ng did obtain or secure important
compen,ation for the first offence, and might then have
stayed his hand until he received orders from home, but
that the bloodshed and minces that have followed are the
consequence of other demands which you yourself in
your wiser hours had officially pronounced to be dange-
rous and unprofitable. '
" You proceed to tell the voters of Tiverton that we
are men 'who have endeavoured to make the humiliation
and degradation of our country the stepping-stone to
power.' What opiniop, my lord, have you of the me•
mory and credulity of your eonntrymen if you think they
have forgo'.ten that Lord J. Russell hag but late y re-
tired from your own Cabinet, and that Lord Derby, hav-
ing re-igned office on the first hostile division of the
House of Commons in 1852, has supported yourself and
your colleagues with all the strength of the Conservative
party during every phase of the Russian war ?
" Such statuinents may. perhaps, be forgiven in an
address as an electioneering clip-trap ; but was it decent
to use the table at the Mansion-hou-e as a hustings ?
For 1. find that at the L ,rd Mayor's dinner on the 20th
inst. you are rep rted by the Tiinesto have spoken thus :
---' It them; who voted against us had ris,e2 to power,
what ought they to have done as the logical and inevit-
able consequence of -their vote ? They asserted that
our proceedings were unjustifiable . • . .
They must have paid the rewards which had been given
for the heads of our merchants, and the cost of the
arsenic which had ben u,ed in poisoning cur fellow sub-
jects at Hong Kong.'
And this is the language of the Prime Minister of Eng-
land at the banquet of the first magistrate of the capital,
surrounded by foreign ambassadors and all the talent,
rank, and wealth, of hie party. What they thought of
this extraordinary insult to seine 400 members of Par-
liament is easilygueesed and known; but what would the
most ignorant of our countrymen have said of your logic
had you addressed themthus in an analogous case,of pos-
sible. occurreecel 'Two men quarrel, and proceed from
words to 1,1 bas ; one is killed. The survivor is tried, his
counsel pleads justifiable homicide, the jury give a ver-
dict of manslaughter. Pending the trial the relations of
the deceased take np the feud, and poison those of the
accused. Tile jury, logically, must pay for the poison.'
" Have I not, thee, a right to call your Lordship's •
speech in the City an electioneering clap-;;rap I But was
it the place and the audience for such a cone I The im-
patience of obscurity er the irritation of misfortune may
sotnetteass excuse invective, but you had on that occa-
sion no such palliation. You are the popu ar Minister
of the day. You may Justly refer your countrymen to
very long and, I admit, very useful services to the State.
They appear to be anxious to do you honour and give
yen their confidence, and yet you choose this moment of
pride and prosperity wantonly to accuse those who have