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

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LONDON. SATURDAY. OCTOBER 11. 18,1!,.

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
48,774,5041., showing a decrease on the quarter of 560,973/.
and on the year of 234,7391. Now, when we consider the
number of articles on which the Custnns' 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 4,848,36.31., for the
year to 18,652,5521., showing a decrease on the quarter of
1,154,4921., 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 109,2731. 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 1,780,1754
for the year to 6,961,3704 showing an increase on the quer.
ter of 114,4871., and on the year of 427,985/. There is
a decrease on the quarter in the Property-tax of 134,828/.,and
on the year of 31,344/., the total amount of the property-tax
received for the quarter 'being 1,823,883/., and on the
year 5,127,1661. 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 150/.,
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 209,0004 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 160/., and an increase on theyear
of 23,4261. The Crown Lands, and Miscellaneous both
show an increase, but neither of these sources of revenue
can be considered as indicating anything as to the state of
the country; and besides, in the Miscellaneous is reckoned a
sum of 450,00C1., 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 234,7394 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 9,005,7194
leaving a surplus of 4,815,955/. on the quarter. The surplus
on the corresponding quarter of last year was 4,595,635/.,
so that there is an increase of the surplus tl is 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 WiemAll 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
4rtevously 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 Stigden, &c. It may well
he 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
.ligest any great portion of the multifarious, but very impor-
tant, contents cf this document; and shall, therefore, limit
our present remarks to one point only, out of the numerous
suljects of extreme interest embraced in the scope of the
evidence taken. We play venture to observe, however, en
oassant, that the Act of Wremam IV., repealing usury laws
on promissory notes, but leaving them still applicable to
transactions connected with mortgage advances upon landed
droperty, &c., however sound in principle, was
tarred, 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 cf 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,