The Sun.
London, England, 1850-07-06 00:00:00

&titian:A

LONDON, SATURDAY. JULY 6, 1850.

THE QUARTER'S REVENUE.

The Revenue returns for the year and quarter
ending the sih July instant will be found in another
part of thin day's impression. They are of a very
satisfactory character, realising the most sanguine
anticipations that had been entertained, and indicating
a steady progressive improvement in the more im-
portant branches of the ordinary revenue. The country
has at length recovered from the injurious consequences
of the commercial and monetary crisis of October, 1847.
Perhaps an over caution may still be perceptible in
some quarters. Perhaps the directors of the Bank of
England do not even yet exhibit as much liberality in
their dealings as might be desired, but the wonderful
elasticity of our resources has been made fully appa-
rent, and the national balance-sheet affords the most
conclusive evidenee of restored prosperity.

We were fully prepared for this gratifying result
from other returns, namely,those of the Bank of England
published weekly, and of the Board of Trade, which
are given every month. The former indeed, namely,
the amount of notes in active circulation, constitute
an index that may safely be relied on, which never
by any chance misleads the observer. A circulating
medium adequate to the wants and exigencies of the
countryis the very life-blood of industry; when sufficient
representatives and measures of value can be obtained
there is a general activity perceptible on every side,
the national capabilities will be fully developed, and
those who are able and willing to work will get con-
stant employment at remunerative prices, will re-
ceive " a fair day's wages for a fair day's work."
These persons, in turn, are able to procure for them-
selves and families the ordinary comforts to which
they are accustomed when trade is flourishing, but of
which too many were deprived during the last
few years. The revenue, therefore, flourishes,
the national expenditure is not only fully provided
for, but a handsome surplus remains in the Exche-
quer to be applied to the further reduction of taxa-
tion, or such other purposes as may be considered
expedient by the representatives of the tax-payers.
And these results so ardently to be desired, this
" consummation so devoutly to be wished for," are
obtained in consequence of a few millions of bank
notes being in circulation more than at a
tormer period. Experience has shown that " the
distress or prosperity of the country depends on the
circulation ctf Bank of England notes above it., being
reduced to 16,000,0001., or advanced to 20,000,0001."
During the last year we have bad a considerable in-
crease in that circulation, and hence the improvement
in the revenue to which we shall now refer in detail.

There is an increase both on the year and quarter,
both in the ordinary and extraordinary branches
of revenue. For the year the improvement on
the " ordinary" branches is 1,164,9041., which is
increased by the "extraordinary" to 1,215,867/. On
the quarter the improvement en the " ordinary" is no
less than 518,1041., which is increased by the "ex-
traordinary" to 561,5041.—this being the total ame-
lioration within the last three months as compared
with the corresponding three months of last year.

The satisfaction which we derive from these "great
facts" is by no means diminished by a closer
consideration of the account. We have not
only the " increase," but that increase is made
up in the most gratifying manner, and fully
confirming the accuracy of the arguments adopted by
fiscal reformers, and showing that a reduction of
taxation dues not necessarily diminish the revenue,
but is frequently more than counterbalanced by in-
creased consumption. _ _

Thus, in the Customs, although there is a decrease
on the year of 70,5801., there is an improvement on
the quarter of no less than 204,932/. The change
in the Sugar duties has led to a greater
demand for the " corn of the tropics." The great
improvement has, of course, been in the article on
which the rates had been reduced within the year,
but wines, foreign spirits, tea, butter, and other
articles of comfort or necessity have participated in
the improvement, while there has been a reduced im-
portation of corn, coffee, tobacco, silk manufactures,
&c. The former of these may, however, be attribut-
able to the prospects of a favourable harvest, which
has rendered speculators cautious—the second to the
general and all but universal adulteration of coffee
with chicory, of which so many just complaints have
been preferred. The falling off on " tobacco" may
possibly be ascribed to an increase of smuggling,
which is fostered and encouraged by the enormous
rate of duty, about 900 per cent. on the first cost of
the article—one successful adventure in which
would more than cover the losses on their failures
and the confiscation of the smugged goods on
each occasion, while the dimunition in silk
manufactures is possibly occasioned by the
additional employment afforded to our native opera-
tives, through the increased issue of bank notes, and
the consequent increase of our home productions.
In the Excise, which may be regarded as the in-
dex of the prosperity of the labouring population,
there is a large increase, both on the year and quarter
—on the former of 900,4231, and on the quarter of
304,6231. The items on which the improvement has
chiefly taken place have been spirits, malt, hops, paper
and soap—all (the first excepted) of the most useful
character. The increase on the,quarter in malt alone
is 150,0001, and on hops 60,000/. The "poor man's
beverage"—beer—is thus shown to be in increased
demand.

I❑ Stamps there has been an increase on the year
of 222,0911,, but a falling off on the quarter of
28,9301., which may be ascribed in part to the Bill
now before the House of Commons, which
has induced parties to postpone transac-
tions in which more favourable duties than
at present will be levied, when the measure
has passed into a law. On Taxes there is an
improvement of 12,0301. on the year, and of 18,5511.
on the quarter. There is but little variation in this
department, and the improvement may be accounted
for by the easiness in money matters, which has pro-
duced greater punctuality in the licuidation of the
charges on each house.

improve
In the Property-tax the
,7601.
This
would indicate an ment on the year
is no less than 97
im-
provement in the incomes of the middle classes,
professional men, tradesmen, am, in which alone
there is any variation, of more than 3,300,000/. per
annum. There is a small falling off on the quarter
of 6,4051. In the Post-office there is a falling off on
the year of 32,C00/., but an increase on the quarter of
14,0001. The former may be accounted for by the
additional facilities given for the transmission of cor-
respondence before the meddling of the Sabbatarians
was permitted by the Government.
In Crown Lands there is an increase of 30,0001.
on the year, the quarter remaining in statu quo. In
Miscellaneous there is an improvement both on the
year and quarter ;on the former of 5,1801., on the latter
of 11,3341. In the extraordinary branches the only
falling off is on China Money, which will never :gain
appear in the national balance-sheet; while in the
Imprest and Other Moneys, and Repayments of Ad-
vances, there is an increase on every point.
On the whole we may congratulate the public on
the returnF, which are the most satisfactory of any
that have been published for several years past.

An opportunity will be afforded to Honourable
Members on Tuesday evening to disclaim any com-
plicity whatever with the late Parliamentary surprise
of the Sabbatarians. Then will be brought under the
consideration of the House of Commons the motion
of the Hon. Gentleman the representative of Honiton
—a motion for the rescinding th© eider 4d:educed by

Quarters ended July 5,

1850

2,723,310 10,789,140
7..xclusive of Advances.

THE REVENUE FOR THE YEAR AND QUARTER ENDING JULY 5, 1850.

No. I.—An Abstract of the Net Produce of the Revenue of Great Britain in the Years and Quarters ended sth of July, 1849, and 3th of Jul'•, 1850, showing the
Increase or Decrease on each head thereof.

1 QUARTERS ENDED YEAR ' QUARTERS ENDED YEAR Year ended July 5. Quarter ended July 5,
^- ended '' , ~4 , ended ,----,.. .-
Oct. r________ ..4_ ___l
10, Jan. 5, April 5, July 5, July 5, Oct. 10, Jan. 5, I April 5, July 5, July 5,
1848 I 1849 1849 1849 1849 1849 1850 1850 1850 1850 , Increase. I Decrease. Increase. Decrease.
.
.
XXXX£X£X£ £ I, £ - X £ £
Cusfoms .••• • •• • .... •• 5,406,483 4,682,395 4,593,119 4,128,777 19,810,774 • 5,253,272 4,729,630 k 4,432,581 4,333,703 18,740,194 , Customs •. •• • • 70,580 204,931 ....
Excise, • .... .... -- - 4,102,574 3,253,162 1,820,575 3,020,602 12,196,913 ' 4,287,577 3,625,061 1,859,473 3,323,225 13,097,336 I: Excise •••• • • • • .... 900,423 •• .. 301,623 ....
stamps ~..... - - - - 1,461,912 1,472,598 1,549,171 1,619,697 6,103,408 : 1,6 -6,747 1,509,866 1,538,125 1,590,767 6,325,499 ; Stamps .•••• • • • • • 222,091 .... „.. 28,930
215,656 1,921,013 148,101 2,054,730 4,3:49,500 I 203,057 1,897,961 177,231 2,073,281 4,351,530 (j Taxes • 12.030 .... 18,551 ....
Property Tax ••••• • • • • • 1,892,590 424,434 2,011,519 1,033,240 5,362,083 ',I 1,914,006 449,394 2,069,608 1,026,835 5,459,843 !, Property Tax.. -• • 97,760 •• • • -. • . 6,405
Post-office ••.••• • • • - • • 221,000 198,000 231,000 196,000 849,000 . 224,000 152,000 231,000 210,000 817,000 j i Post-otllce
..
Crown Lands ••••• • • • .• 20,000 30,000 40,000 40,000 130,000 1 20,000 00,000 i 40,000 40,0.10 160,000 Crown Lands •... • • 30,000 •••• •• .. .. -
311scellaueous •••• • • •• 13,923 21,709 98,792 70,140 2)4,564 ,i 21,902 58,408 47,960 81,474 209,744 Miscellaneous .•• • • . 5,180 .... 11,334 ....
1 ,
Total Ordinary Revenue 13,334,468 12,003,311 10,495,277 !12,163:186 47,996,242 13,610,561 12,473,314 10,395,941 12,681,290 49,161,146 Total -••• • • • 1,267 ,484 102,580 553,439 35,335
China Money •• • • ...• • • .. 84,284 .. • • 84,284 • • • • • .. China Money ...... .... 84,284 •• • • ....
Imprest Moneys, &c. .. 163,437 123,895 204,361 109,875 606,568 ' 120,134 125,087 301,759 135,827 662,807 , Imprest Moneys, &c. 76,239 •• • . 25,952 •• ..
Repayments ofAdvances 112,605 140,695 87,648 170,841 511,789 j 166,199 •
124,909 91,400 188,289 570,797 Repay mts of Advncs. 59,008 •• • • 17,448 ....
Total Income ;13,615,510 12,352,185 10,787,286 12,443,9021 49,198,883 13,896,894 12,723,3:0 10,789,140 13,005,406 50,414,750 Total • ..... - 1,402,731 186,864 596,839 , 35,335
**
_----
Amount applied to Con- . i Deduct. 35,r5 f I Deduct
solidated Fund... •. - \ 7,230,426 8,974,147 5,897,300 7,220,278 49,322,151 ' 8,298,974 8,23,3,315 ' 5,967108 8,200,639 30,702,938 186,864 I
Decrease `' j Decrease
Ditto, as Advances .....1 428,746 184,380 185,554 393,077 10 91,787 490,426 374,172 j 295,337 291,823 1,152,758
~ 1
Ditto, as part of Ways & , Increase Increase
Means of the Year.... 5,956,328 3,193,6'0 4,704,432 4,830,517 18,684,975 5,107,491 4,112,823 4,525,795 4,512,944 18,259,06 '1,215,867/ on 561,504 /1 on the
-
'---
13,896,894 12,723,310 10,789,140 113,005,4061 50,414,750 the Year. ' Quarter.
Total. •• • • :13,615,510, ,12 352 183 10,787,286 112,443,902 49,199,883 ;
• Exclusive of Ad.:4m,,

No. ll.—lncome and Charge of the Consolidated Fund, in the Quarters ended the sth July, 1849, and the sth July, 1850.