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

THE FRENCH BUDGEP OF 1858.

. The followin,-; is the exposi des motifs of the
to ?get of 1858, lately pre3.ll;e I to the L, gisletive
Body. The docruneut hears the signature of E.
Piesident of the flumes seal ion, of the
Council of State, and MM. Godello and Vuitry,
members of ►he same body :•=-
" Gentlemen,—We are about to submit to yc tir ex-
amination the estimate of the receipts and expenses pro-
posed for the year 1858. Last year, at thi, period, we
congratulated ourselves with you on the Loper: of an
early peace. Peace has been signed—a gi 'dons and
leoing one, a work of wisdom and straightforward
dealing ; a new treaty of Paris, very different from
the (11 one, and in which are written by the hand
of France, and sanctioned by all Europe, great prin•
ciples of hurnani'y too long con, ester), and the
rules, henceforth certain, of international maritime
law. At the Fame 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 enseintle of the 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 I have
resolved to reduce the ( xpenses without suspending great
public works, without compromising acquired postione,
and to diminish certain taxes without injuring the
finances of the State. The budget of 1858 will be pre-
sented to you in equilibrium ; al the foreseen expenses
have been set down in it. The amount of the loans will
seffice to pay the balance of the expenses of the war ; all
services may be assured without our having need to
apply rine ,v to public credit.' As yon know, gentlemen,
the year 1356, which has just concluded, shows a not-
able augmentation in the produce of the indirect taxes
and revenues, and yet the year 1855 was itself teesep-
tienally productive. The year 1855 produced
957,500,000 francs. In that sum, new duties figure
for 33,230,000 fr. for hal a year. The year 1856
produced 1,033 000 000 francs, in which the new
duties figure fur 79,647,000 francs for a whole year.
You will remark, gentlemen, that the estimate of the
receipts f r the year 1853 has been made with that pru-
dent reserve which last year obtained your approbation.
At the simile time, to be consistent with ourselves, and
to obey the wishes of the Emperor, we have inscribed in
the budget all the foreseen expenses, and we have set
them down at the true figure, as much at lcaet as it is
possible to do for things to come.
"Suppression of the second war decime on the regis-
tration duties.—The new war decime on the registration
duties will be suppressed from Jan. 1, 1858; which will
be a relief of 23,000,000 f.
"Abrogation of Article 1 of the by of the 6th Prairial,
An VII, and suppression of the stamp duty on printed
notices and prnspectuses.—Art. 1 of the law of the 6th
Prairial, An VII, is thus conceived :—‘ Printed notices,
whatever may be their object, which are cried and dis-
tributed in the streets and public place?, or which are put
into circulation in any other manner, shall be subjected
to a stamp duty, with the exception of addresses con-
taining the simple indication of domicile or a simple
notice of change of residence.' Although this duty was
reduced by Art. 6 of the budget of the 28th April, 1816,
which fixed it at 10e. for the whole sheet, at sc. for halt
a sheet, at 24e. for -the quarter sheet, and at lc. for the
belf-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 inconvenience 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 atode 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 object of numerous frauds, which,
being exercised on a large. scale, destroy Vie de-
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 law. The laws of the
25th March, 1817, and of the 15th May, 1848, which
admitted eaceptione to the law of the 6th Prairial, An
VII, gave rise to incessant difficulties and to disputes on
the application of it. From 1837 to 1850, the produce
of that stamp duty did not exceed annually 500,000 fr. ;
froth 1850 to 1855, it amounted to nearly 1,000,000 fr.
But the suppreseiou of it will not cause an equal loss to
the treasury. At pre-cot 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 in towns, are employed to convey and distribute
printed papers. 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 lose
by the stamp duty. The repeal of Art. lof the law
of the 6th Prairial, An VII, by removing a permanent
cause of discontent, without 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-
tion.

" Modification,* in the law of June 5, 1850.—Increase
in the duty on French and foreign transferable semi-
ties.—ln conformity with the wish repeatedly expressed
by the Legislative Body, the Emperor has charged us
to prapnaß tnyou so tevy a pew tax on transferable secu-
rities. The law of June 5, 1850, established a propor-
tional stamp duty on newotiable share.; and bonds of com-
panies. That tax was 50c per 10011 on the nominal cap -
tal of the share, if the duration of the company did not
exceed 10 years, and lf. if it was for a longer period.
This proportional tax once paid, the share acquired under
the law of 1850 a double advantage; it had no more stamp
duty to pay during the whole continuance of the
pany, and was exempt during the same space of time
from any formality of registration in case of transfer.
According to the provisions of that same law, if the com-
panies wit,lied to avoid the payment of the proportional
duty, they might enter into an annual subscription for
the whole period of their duration. In that cnae they
wculd have to pay sc. per 100 f. of capital. Such is the
general economy of the law of 1850. We 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 au 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 tax, which appears difficult and perhaps even
dangerous. We find, besides, in a law already estab-
lished, the principle and the basis of the new duty to be
levied. In the secohd place, the annual stamp duty
leaves to transferable shares sll 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 increr.se. Simple and easy of
collection, and moderate in its amount, it will not in any
way impede industrial progre-s, and its proceeds or.)
destined to be increased only by the Llevelorment of the
object trxed.
" Budget of Receipts.—The estimate of the receipts
for 1858 has been trade 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
avid in the beget of 1857 far a sum of 1,031,010,000
francs, We propose to yen to admit them in that of
1858 at 1,030,340,000 banes. We must add, that in
this total estimate, account has been taken of a diminu•
tion of 24 millions, the caus's of which are exolaincd
above, and also of an increase of receipts of 14 millions,
being the probable result of the new duty on transferable
recuritios.

"Budget of Expenses.—The budget of 1858 al com-
pared with 1857 presents an increase of expenses of
18,081,520 francs. • Different causes have produced
this considerabN augmentation ; it will be suffi-
cient for us to point out the principal ones. The
departinvnt of Finance cla;rns for itself alone en
increased expenditure of 27,855,3661 r., in which amount
are set ,own 5 millions for the Transatlintio Stearn-
pankete ; 5 millions' for annual reinsbursement to the
Z .nk of Franco on the loan of 75 millions wade in 1848
(hitherto this annual reimbursement bad 'been placed at
the charge of the fleeting debt) ; 5 millions for the in-
creass of small salaries 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 are estimated at
And the ordinary expenses at 1,716,986,190

Making a surplus of receipts of 20,128,9811r."
Here follows the summary of the budget which was read
to the Legislative body by the president when the bi 1
was presented on the 21st, and which was given in this
j )urnal on Monday, 23J. The following are the articles
of the blidg( t which relate to the new duty on shares
and bonds : .

"Art. 6. From the promulgation of the present bill
the duties est.iblished by Arts. 14, 22, 27, and 31 of the
l%w of June 5, 1850, on the shares and bonds of
financial, oommtroial, and industrial companies are con-
verted into a single obligatory duty of 15 centimes per
annum for every 100ir, of the capital of the said shares
and bands.

" Art 7. For companies created hereafter the duty
shall be determined during the first three years, with re-
spect to i-hares, according to their nominal capital, and
witlvespect to bonds according to the rate of emission.
For the years following it shall be levied on the capital
fixed every arc', years, according to the average price
of the shares and bondeduring the triennial period preced-
ing. For companies established previously to the pre-
thulgatiou 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 com•
pany has not been in existence three years, the averageshall be determined on the period which has elapsed
since its creation.
" Art. 8. The amount of the proportional duty paid,
in virtue of Arts. 14 and 27 of the law of
by companies established prior to the
the present law, shall be included in the
f the
preceding
they will have to pay hereafter, in virtue
e
•
article. pro mu nu
dutiesg sa,t
which
insiOo
hf,
foreign com
"Art. 9. Shares and bonds i8312e1 by g
nies shall be subjected, like French, to a tax which shall
not exceed 150. er 100 f. per
p on their real value.
pa.
.
annum
A regulation of the public administration shall ebtablish

the proportion and the manner in which this tRx shalt b
collected.

"Art. 10 The same regulation shall lay down all the
necessary rne t:urea for• the execution of the present law.
"Art. 11. Ev.ry contravention of this regulation shall
be liable to a fine of from 501. to 300 f."

LORD MALMESBURY AND LORD

PALMERSTON.

Lord lialmesbury present 3 bis compliments, to
the editor of The Sun, and would feel much obligel
to him to insert the enclosed letter in hi 3 journal.
Whitehall Gardens, March 25.

"London, March 25.
My Lord ,—I am one of those who thought it.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 unablo 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 proceet!ings of the
Chinese war, and who have • never read the blue-book
xcapt in extracts, should know exactly what they were.
That la!ue-hook. was Sir John Bowring's justification of
his acts.
" It became our indictment against him, and the House
of Commons upon its evidence gave a verdict against the
defendant.

"Now, that verdict was founded upon whit appeared
in the bluc-b ok as having occurred up to the time it
was produced, and when the events were related accord-
ing to their respective dat-s. But this undoubted evi-
dence live in direct contradiction to the statement which
you make to your constituents at Tiverton.
"To them you write—

"'An insalent barbarian wielding authority at Canton
bad violated the British ffrg, broken the engagemeats of
treaties, offered rewards for the heads of British subjects
in that part of China, and planned their destruction by
murder, assassinations, and poisons. The British cffiCers,
civil and naval, on the station had taken those measures
which appeared to-them to he' proper and necessary to
obtain redress.'

"Now, my lord, the inference which must be drawn
from these l'nes is that ts'.l tho•rs outrages preceded our
seizures of the ships, ehelling forts, and bombarding
Canton itself, and were the provocations to our aggress
sion. This in'erence is not true, for, with the exception
of the first one—namely, the supposed violation of the
British flag on board the Arrow, a'l the others :were
subsequent to and in retaliation for our operations- con-
ducted nithout any declaration of war.
"You would make your constituents believe that the
issue upon which the minority in the Lords and the
majority in the Commons decided was that all the out-
rages which you enumerate could not and did not justify
our hostilities, whereas they only declared that the ori-
ginal dispute of the Arrow did not justify the violsnoe
of our men=ures—measures which had subsequently in-
duced barbarous reprisals and engaged us in a Bangui=
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 to this fact by mixing up the successive
events and confusing the impressions of your audience.
If the blue book were within their reach, they would
find that Sir J. Bowring did obtain or secure important
compensation for the first offence, and might then have
stayed his hand until he received orders from home, but
that the bloodshed and crimes that have followed are the
consequence of other demands which you yourself in
your wiser hours had officially pronounced to be One-
roue and unpri,fi'able.

" 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-sto:pe to
power.' What opinion, my lord, have you of thO me•
mory and credulity of your countrymen if you think they
have forgotten that Lord J. Russell has but latei-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 an•i
your colleagues with all the strength of the Conservative
party during every phase of the Russian war ?
" Such statements may, perhaps, be forgiven in an
address as an electioneering clsp-trap ; but was it decent
to use the tab'e at the Mansion-house as a hustings I
For I find that at the L rd Mayor's dinner on the 20t'i
inst. you are rep rted by the Tines to have spoken thus :
--‘ If those who voted against us bat risen to power,
what ought they to have done as the logical and inevit-
able corsequence 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 used in poisoning our fellow sub-
jects at Hong Kong.'

And this is the lan-guage 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 his party. What they thought of
this extraordinary insult to some 400 members of Par-
liament is easily guessed and known ; but what would the
most ignorant of our countrymen have said of your logo
had you addressed them thus in an analogous case of post-
' Bible occurrence '1 `Two men quarrel, and proceed from
words to Glows ; 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 up the feud, and poison those of the
accus, d. The jury, logically, must pay for the poison.'
"Have I not, then, a right to call your Lordship's
speech in the City an electioneering clap-trap 7 But was
it the plate and the audience for such a tone ? ,The im-
patience of obcurity or the irritation of misfortune may
sometimes excuse invective, but you had on that occa-
sion no such ralliation. You are the popular Minister
of the day. You msy 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
you their confidence, and yet you choose this moment of
pride and prosperity wantonly to accuse those who have
like myself, often supported you in maintaining the
honour of England and defending her best institutions of
sacrificing tile,e to the basest personal motives.
"If the • charge had not proceeded from so high a
quart,?r I should have despised it. I declare it to be ut-
terly unfounded as regards myself, and I believe it to be
equally so as regards the gentlemen with whom I found
myst if in unusual accordance upon the China vote. By
its 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 bumble
vote will support a ant' which has now become necessary
to ErgLsh interests and honour, but which at first might
have been avoided without a sacrifice of either.
" I have the honour to remlin,
" Your Lordship's obedient servant,
" MAL M ESBURY.
" The Right Hon. Viscount Palmerston, K.G."

About 50,000/. in bar gold was taken from the Bank
yesterday for exportation to the continent. 100,0904,
sovereigns, are said to have been taken by the Govern-
ment this week for transmission to the Cape.
THE CASE OF FRATRICIDE AT MAIDSTONE.—The in-
quest on the body of Tnernas 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 E lwards, proved that he had taken the
axe 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 Gen.
Edwards was returned. The prisoner exhibits the
greatest indifference, and says he was at Maley, thre
miles off, at the hour the murder took place.
THE BILLS OF EXCHANGE ACT —A return tat -ly
moved for by Mr. Keating of the number of writs is-
sued under the Dille 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 1356 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., an I 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 ,:umber-of final judgments 9,682. The number
of judgments on verdicts in 1856 was 639 ; the average
number in four years being 761. In the C eirt of Ex-
chequer the number of wi its issued in 1856 under 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 45,335, the average of four years
being 38,132 ; and the total number of final judgments
in
,1856 eas 16,932, the average being 13,177. The
number of judgments on verdicts in 1856 was 810, 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 tots
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 EXPENDITURE.—A. re
turn lately presented to Parliament t y the Chancellor o
the heads e Exchequer
of armyequerof the
and navy,cariou rd
s su ma voted in supply under
th
ueoue services in every year fro°mll3Ba3rsccioalrBds6steleal
la
rive, shows the gradual and progressive increase which
has taken place in public expenditure since the filet
named drom 18period,
811457 Under the
vAe headva
varies
s tihne army estimates,frem
to ealbBsleiatrvaries
5,793,4561. to 6,364,426/. •
from 5,979,2721. to 7,167,4861.;fr0f 18415855 the army esti-
mates, including the expensewoungitnh; e
aerm
werebodie embodied
voted militia,
which in this and the ec_ or nearly double
that of au), ereeedityeawras
et hem which
to-
gether, suddenly rives tos
1,3771'1118°,6v7e5t1e.' fur the Ordnance
Department. in Air
it hart gradually increased to
Period up
5 7 ton
1854 h increased to 5,986,662/ , and
3,053,-6-1' ; 1990 1651. The total vote for the ar siy
in 1855 to 9,
thecomtn irsatiat and
from which period up
gradually increased to 14,796,7211., or
48 including 43 50/
L double what it was 19 years previously ; and in
aeon.
1855 the vote was 21,779,6971. which is four times what
it was in 1835 ; in 1856 the total vote was 20,478,0341.
an
militia,
dwo,e,
se e.itin sieBr3,vsic:7B,,
ateiOr 1835 was 4,245,7231. ;
was 6,943,7201. ; in 1354, 14,812,6091. ; in 1855 it rose
itiobelBnsa4vyiteshtainid
in 1845 i
to 19,456,1121. ; and in 1856 it was 16,773,596/. 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 14,123,255/e during the next five years—viz
in 1840, it bad increased to 17,622,513/. ; in 1845 it was
18,735,591/.; 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. consider Able pro-
portion of the great increase in the liter years is due to
the txigeucies of the Russian war.

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