The Sun.
London, England, 1857-06-06 00:00:00

LONDON, SATURDAY, JUNE 6, 1857.

The financial policy of Sir G. C. L-ewis seems
mainly to consist of accumulating every possiU•e
burden on the present generation, for the purpost,
of exonerating posterity ! We have had many
painful illustrations of this fact, of which a few
instances may suffice. During the war, when all
our resources should bo strictly husbanded, and the
unnecessary outlay of even a single shilling should
be carefully avoided, he arranged one of the Brea'.•
est jobs ever perpetrated, viz., the purelose at an
exorbitant rate of the hereditary pension payable
to the Duke of GRAFTON out of the Excise—and
of one-fourth of that charged on the Post-office re
venue, for the heirs of the Duke of RCHOMBERG.
Paying for the former no less than 193,777/.

133. 2d., and for the latter, 19,3991. Bs. ; alto-
gether 213,177/. Is. 2d., and that 'not only
without asking the legislative sanction, but with-
out the slightest intimation being given of the
scandalous transactions, until they were dis-
covered from a careful examination of the
national balance-sheet.

Again, when bringing forward the budget for
the present year, he made the whole of the
Sardinian Loan, 1,000,0001. sterling, fall on the
annual revenue, besides paying off the 2,000,000/.
Exchequer Bonds, and 250,0001. for Sinking
Fund, making a total charge of 3,250,0001. to
be collected from the over-burdened taxpayers,
exhausted by the heavy drains occasioned by the
war, and even more by the extravagant rate of
discount artificially produced by restrictive cur-
rency laws. Without these extra charges he
would not have required the additional 2d.
Income Tax which may be set against the
2,000,0001. Exchequer Bonds, anal the Sardinian
million, the interest of which would have more than
paid the charge for an additional million of Ex-
chequer Bonds, may be regarded as the equivalent
for the 2d. per lb. on taa and the enhanced sugar
duties. But, notwithstanding all this, it now
appears he is going to pay off an additional
1,125,0001. for the immediate redemption of the
Danish Sound dues, which might and oaght to bo
spread over a period of 20 or 30 years—making
the entire capital or debt redeemed during the
present year no less than 4,375,0001., so that his
at'ack on the payers of Income Tax, and his
crusade against the tea-pot, coffee-pot, and pie-
dish, to say nothing of the enhanced duties on
spirits, may all be attributed to the desire of un-
duly charging the present generation for the bene-
fit of posterity.
As to the redemption of the Sound dues, for
which a vote of 1,125,0001. was last night taken,
we do not, for the present, object so much to the
propriety of getting rid of the vexatious and un-
justifiable impost, as to the mode in which it has
been effected. It is true that Brother JONATHAN
acted very differently, and by a simple determina-
tion nut to tolerate the improper charge any

longer, altogether got rid of the "black mail."
But assuming, for the sake of argument, that
England was bound to act differently, and that
'Vie ought either to enter into the proposed com-
promise, or permit her Baltic trade to be saddled
with the inequitable impost ; assuming, likewis
that it was wise and politic to get rid of the dues
levied by the Danish Government, which, from
incidental expenses of agents, demurrage, delays,
(t7c., quadrupled the burden to the British
shipowner, which eventually fell on Bri-
tish consumers, we must complain of the
modus operandi, which will occasion a withdrawal
of 1,125,0001. of bullion from the Bank within
three months, thus continuing the exorbitant and
ruinous rate of discount now enforced for a fur-
,her term, and which also makes it fall exclusively
on the revenue of the present year !
The only excuse which Sir G. C. LEWIS could offer
was, that he had been mistaken in his estimates of
revenue and expenditure in his "previous budget"
of Feb. 13, to the extent of nearly 2,000,0001.
sterling (1, 861, 0001.), and that, therefore, he might
quander the money thus produced, practicsry
raking advantage o! his own error. We cannot
see that an additional balance in the Exchequer
is so great a misfortune as it seems to be consi-
dered by financiers of tote GLADSTONE and LEWIS
genus. The late Lord ASHBURTON was accustomed
to advise every man to keep a balance of at least
100,0001. at his banker's I Very salutary counsel
loubtless, if practicable. But certainly it is ap-
plicable to the National Exchequer, more especially
when the nation is engaged in a heavy war
the expenses whereof it is impossible to calculate,
end when the additional Income Tax, and the
tea, coffee, and sugar duties have only been pre-
visionally granted for a single year. Under these

circumstances, it appears to be not only impolit'c,

but actually criminal, to pay the entire money
at such brief notice, more especially when a satis-
factory arrangement might be concluded in the
way of a temporary annuity either with Dan-
mark, or the Bank of England.
Another point that should not be slurred over
is, that no allusion whatsoever has been made to
the claims of Danish Bondholders resident in

England. Their security is materially diminished
while the whole of the money is paid over to the
King of Denmark, to deal with as ho thinks pro-
per. This seems neither fair nor equitable. The
owner of a heavily encumbered estate would not
be permitted to sell a farm and apply the whole
proceeds to his own use without regard to the
claims of his creditors. And before handing over the
amount, the British Government should act justly
towards British subjects who have claims on Dec-
mark.

A little gentle pressure, too, would have got
rid of the Danish transit duos, which, although
trifling in amount, are of a very vexatious charac-
ter. We might have no right to interfere with
the fiscal legislation of Denmark, but when paying
a large sum for the abolition of one class of dues,
we might fairly insist on others of a similar cha-
racter being included in the same category. We have
certainly had in every respect the worst of the bar-
gain, for there is no doubt but that Denmark would
have relinquished the trifling transit dues, rather
than reject the British gold to the amount of
1,125,000?. so recklessly tendered for its ac-
cept ante.

We have no objection to any reasonable outlay
whereby the efficiency of the British Army
may be increased, and our soldiers rendered
more capable of providing for themselves,
when on actual service in an enemy's
country. For this reason we have regarded the
construction of the Camp at Aldershot with con-
siderable favour, inasmuch as it was calculated t)
afford our troops some experience in the art of,
at least, mimic warfare, and in taking better care
of themselves, their horses, ammunition, weapons,
provision (including the cooking thereof), when-
ever they might be engaged in an actual
campaign. But, certainly, this will not
bo effected by the erection of luxurious
permanent barracks, whore the mon will be
taught, not how to provide for their owu com-
forts during a temporary bivouac, but " to cook
by gas, and to roast by steam !" Tho over-bur-
dened tax payers are, however, to be mulcted of
400,000/. steiling for the gratification of this
l'rincely crotchet. It, in Let, begins to assume
the appearance of a gigantic job, the only effect
whereof will to to enable some influential
parties to gratify, on the easiest possi-
ble terms, their propensity for "playing
:It soldiers." A pretty little game in its way,
but which may be purchased at too high a price !
List year the estimate was merely 250,0001.,
r great deal too much by the way, but already
there has been an addition of more than 50 per
cent., nearly 400,0001. being required for what
may truly be called" the job," and if matters
progress in the like ratio, it is impossible
to say when or where the demands will
~top- The country has already ample bar-
rack accommodation fur the " Peace esta-
blishment." It would be far bettor, as the
to repair
veteran Sir DE,' LACY EVAlsra declared,