The Sun.
London, England, 1859-02-21 00:00:00

LORD STANLEY'S REPORT ox INDIAIC.

FINANCE.

An important State paper was laid before Par-
liament and ordered to be printed on the 14th just'
It is no less than Lord Stanley's " Review of the
Finances of India, as shown in the actual accounts
of 1856-57, and as estimated for 1857-58
1858.59." This paper bears date the India-office'
19th of January, 1859, and is addressed to the
Governor-General of India in Council. The accounts
for the year 1855-1856 exhibit a total (Indian)
revenue of 32,08,90,650 rupees, and charges 0
30,35,12,781 rupees. This leaves an (Indian) sir;
plus of 1,73,77,869 rupees, but the " home charges:
of 2,78,38,516 rupees convert it into a deficit
~01
1,04,60,647 rupees. In 1856-57 the revenue amounte"
to 33,30,33,912 rupees, and the charges t4/f
30,79,90,749 rupees, leaving an (Indian) surplus 0
2,50,43,163 rupees, which was again converted, by
" home charges" amounting to 2,68,37,700 rupees'
into a deficit of 17,94,537 rupees. The aggregate
receipts from land revenue in 1856-57 amounted te
17,71 75,801 rupees, being a general improvement t
72,11,182 rupees as compared with the precedini
year. Customs (excluding salt) fell off in 18561
by 7,86,265 rupees. Salt sales and duties yieldeu
3,09,87,107 rupees, being 11,69,476 in excess ofthe,
amount realised in the previous year. The net
receipts from that important item of revenue
opium amounted to 3,85,63,712 rupees, being
10,39,044 rupees less than in the previous Year'
" Sayer and Abkarry" yielded 1,42,13,644 rupees.
The largely increased importation of silver COl
tinned in 1856-57, and the net profits of the three
mints of Calcutta, Madras, and Bombay (including
the profits on the copper coinage) exceeded by
6,47,234 rupees the net profit .of the previous year.
Under "Public Works" there was an increase.'
receipt of nearly 29 lacs of rupees, but this was
,11.1
a great degree nominal. Lord Stanley regards tals„
(generally) progressive movement of the revenue
as satisfactory, As regards the charges, it is static"'
that the civil charges extraordinary exhibitel
decrease, and the military charges, ordinary al,!,
extraordinary, an increase (in 1856-7) of 18,70,80'.
rupees; in the marine and naval charges there Was
also a net increase of 8,94,223 rupees. On the
whole, as regards both revenue and charges, the
financial result of the year 1856-7 is pronounced
by Lord Stanley to be a decided improvement ag
compared with the result of the previous year, and
the financial position and prospects of Indiawere
most encouraging when the mutiny of the Bengal
army broke out and upset everything.
The gross revenues of India are estimated for,.
1857-8 at 31,54,39,759 rupees, and for 1858-9. a;
33,01,60,202 rs. The charges of 1857.8 are estimate",
at 34,42,22,703 rupees, and those of 1858-9 at.
39,73,32,849 rupees. Lord Stanley estimates the
" final deficit" of 1857-8, which is wholly attribute
able to the mutiny, at 9,00,00,000 rupees, and that
of 1858-9 at 12,50,00,000 rupees, making a gross
total of 21,50,00,000 rupees, and to this should he
added 1,00,00,000, " the sum in which the expert"
diture on Public Works Extraordinary in the
above two years was less in each year than the
amount expended on the same account in 1856-7 t.
this being done, the probable deterioration in 1857-°'
and 1858-9 is estimated at 22,50,00,000 rupees. Aa.
a set off against this fearful sum, there will be the
forfeiture of pensions and the confiscation of the
property of rebels. The estimates for 1859-60 are
being prepared. Lord Stanley tells the Governor"
General that he shall resort to a further loan ill.
this country with the very greatest reluctance, but
that under actual circumstances " such a 01
appears to be inevitable." The Governor-Gene
however, is strongly urged to depend solely 00
local resources for the ways and means required by-
the Indian Government, so that this loan may b°
the last to be raised in England. The whole deb",
of India appears to amount to £74,543,167, 01
which £18,573,781 has been contracted within the,"
last two years. Lord Stanley, on the strength °'
this startling fact, recurs to the subject of loans,
denounces the system of raising such loans to meet
the general expenditure of the State as " most
disastrous," and calls the serious attention of the
Governor-General and his Council how otherwise,
to meet the heavy disbursements at present entailed
for years to come by recent events. And the 00,;
vernor-General is required to state his own " views
on the subject without delay.

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