The Sun.
London, England, 1845-10-11 00:00:00

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LONDON, SATURDAY, OCTOBER 11, 184:5

THE QUARTER'S REVENUE.
The return of the revenue for the quarter ending 1845,
which will be found in extenso in another column, may on
the whole be considered satisfactory. The total amount of
ordinary revenue for the quarter ending October 10, 1845, is
13,312,9081., for the year ending October 10, 1845, it is
48,774,504/., showing a decrease on the quarter of 560,9731.
and on the year of 234,739/. Now, when we consider the
number of articles on which the Customs' duties and
the Excise duties have been considerably reduced, or
altogether removed (the glass duties for example), we
certainly had no right to anticipate that the immediate de-
crease in the revenue would have been so small. The Cus-
toms' revenue for the quarter amounts to 4,848,3631., for the
year to 18,652,5521., showing a decrease on the quarter of
1,154,492/, and on the year of 1,590,953/. The Excise re-
venue for the quarter amounts to 3,955,1061., and for the year
to 12,069,2151., showing a decrease on the quarter of 5,7841.
only, and, notwithstanding the reduction or removal
of many Excise imports, an increase on the year
of 109,273/. This is extremely satisfactory, as indi-
cating the general prosperity of the country, inasmuch as
it proves the increased consumption of those articles which
are the luxuries of life among the poorer classes of the com-
munity. It proves that the working classes have a greater
command of money than they have had for some time past.
The revenue for Stamps for the quarter amounts to 1,780,175!.,
for the year to 6,961,370/, showing an increase on the quar-
ter of 114,487/, and on the year of 427,985/. There is
a decrease on the quarter in the Property-tax of 134,8281.,5nd
on the year of 31,3441., the total amount of the property-tax
received for the quarter being 1,823,883/, and on the
year 5,127,166/. This decrease may, perhaps, in some
measure be accounted for by the returns which have been
made to persons in the receipt of fixed incomes under 1501.,
for whose incomes the Property-tax had, in the first instance,
been deducted until they could make out their claims to ex-
emption. We are rejoiced to find that the Post-office re-
venue goes on steadily increasing. For the quarter it

amounts to 209,000/., for the year to 688,000/., showing an
increase on the quarter of 9,0004 and on the year of
16,000/. The amount received for the quarter from
taxes is 201,279/., for the year 4,228,2811, showing
a decrease on the quarter of 1601., and an increase on the year
of 23,426/. The Crown Lands, and Miscellaneous both
show an increase, but neither of these sources of revenue

can be contidered as indicating anything as to the state of
the country ; and besides, in the Miscellaneous is reckoned a
sum of 450,0001., the produce of Sycee silver received from
China. The total income for the quarter amounts to

13,811,380/., for the year to 50,506,8831., showing a decrease
on the year of 234,7391., and on the quarter of 560,973/. ; and
considering the great reductions which have taken place, we
certainly should have had no reason to complain had there
been a considerably larger decrease in the revenue. The
total charge for the quarter has been 9,005,719/.,

leaving a surplus of 4,815,9551. on the quarter. The surplus
on the corresponding quarter of last year was 4,595,6351.,
so that there is an increase of the surplus His quarter as
compared with the corresponding quarter of last year. On
the whole, we repeat, the return of the quarter's Revenue
may be considered as satisfactory.

We never had a doubt but that the laws relating to usury,
such as they existed previously to the 4th WILLIAM IV.,
which was passed for the purpose of modifying them, espe-
cially in the case of the Bank promissory-notes, required very
careful and, perhaps, extensive revision. But we have just
as little hesitation in saying, that the shape in which the
modifying enactments now on the statute-book are drawn,
has not only proved a failure in reference to the evils which
those enactments were intended to remedy, but has
grievously aggravated their number, and enhanced their
operation. An important paper has just been issued
from the Parliamentary Vote-office, entitled " Report
from the Select Committee of the House of Lords,
appointed (in Session 1841,) to inquire into the effect of
the alterations made in the laws regulating the interest on
money ; with the minutes of evidence, &c." This report was
brought from the Lords, on the motion of Mr. MILNER GIB-
soN, on the 2d August last. Appended to the report is a re-
print of the " Report of the Select Committee of the Commons
in 1818, appointed to consider of the effects of the laws which
regulate or restrain the interest of money," and attached to
this is:the evidence given by witnesses of vast experience, legal
and monetary, and the highest characters: such as the late
Mr. Ricardo, the late Sir Samuel Romilly, the late Mr. N. M.
Rothschild, Messrs. Frere, Warner Phipps, S. Gurney, the
present Lord Chancellor Sngden, &c. &c. It may well
be imagined that the evidence of such witnesses,
added to that of the evidence given in 1841 by
Messrs. Norman, Jones Loyd, George Carr Glyn, Sir John
Lubbock, Bart., Messrs. J. W. Freshfield, jun., Joseph May-
nard, Mr. G. J. Graham (official assignee), &c., has thrown
very considerable light on the objects assigned for the in-
quiries of such committees. We have not yet found time to
digest any great portion of the multifarious; but very impor-
tant, contents of this document; and shall, therefore, limit
our present remarks to one point only, out of the numerous
subjects of extreme interest embraced in the scope of the
evidence taken. We may venture to observe, however, en
passant, that the Act of WiLuarn IV., repealing usury laws
on promissory notes, but leaving them still applicable to
transactions connected with mortgage advances upon landed
property, &c., however sound in principle, was
marred, to a considerable extent, by the injudicious in-
terference of some members of the Government of that
day, and by the unqualified extent to which some other in-
fluential advocates of the measure desired to push, in prac-
tical application, doctrines which were at that moment
purely theoretical and untried. Men of business have
learned, long since, that propositions connected with the
operation of the exchanges, the adjustment of the currency,