Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1827-12-07
From, the London Sun Oct. 10.


The 2resen. posture of afAirs in different
parts Of Europe is such as to impose upon
Lord Goderch's Administration the most ar
duous aud difficult task. Whether we look to
the affairs OF the East, 10 the state Of Spain, or
to that Of Portugal; with British army in her
territory, we must admit that difficulties pre-
sent themselves in such and every case, which
require the most consnmmaie ability and pru
dencc TO surmoun,; and if we turn to our own
immediate concerns, by omparing ou' Expen-
diturc wi h our Revenue, we shall equally lind
that his Maiesty's Ministers have no bed of ro
ses to lie upon. In fact, their stations arc lar
from enviable, with reference to any one OF
those great questions which now occupy their
attention; aud many Of them, we have no doubt,
are ready to declare that if private station be
not the post Of hoaour, the emoluucnts and
patronage of high Office but poorly compen-
safe for the labour Of body and mind which the
possession Of il entails To discuss any Of the
questions connected with our foreign politics,
is not our present purpose The time APP.
proachcs whcna speculations respecting them
will be at an end, and the course ofcvents must
show the wisdom, or propriety OF the line Of
policy we have adopted But the subject Of
finance is that to which we must direct public
attention We are aware that this Is 4 subject
Of Which few have hitherto paid attention, and
to which most are averse, moi alone from lis
completely ard dryness, but, perhaps, from the
natural disposition to day the hatteling unc
ton to the SOUL" derived from the fallacious
observations Of the daily papers on the subject
rather than 10 look difficulties fairly in the face.
Unpopular, however, and uninviting as the sub
Jet of finance may be, we feel it our duty as
impartial journalists, 20 revert to it, Tor the
purpose ofawakening sense Off Importance,
and justitying by explanation the strong meg
sures which his Majesty's Ministers must re-
sort to either by reducing expenditure or
increasing the revenue. How ether Of these
measures is TO be effected must be the subject
Of future Consideration. -"
I: appears then by the financial statements
laid before the public the day before yesterday,
that the revenue Of Great Britain for the year
ended the 10th OF October inst. was 46,sS2,
6sll and as we see no reason for surprising
that any very material increase wiIl.lake place
in the presest quarter, we shall probably not he
far from correct in assuming the amount of The
revenue for The year ending 5h January next,
at AZ ooo,oool. TO this is to be. added the re-
venue of Ireland, which last year amounted to
$685., 1881. and it is 10 be hoped that some i'm
provemen, has taken place in the revenue of
that part Of the United Kingdom, we shall
shall assume that its amount will be H.
Ooo,oo0l. These sums together, will make
the actual revenue of Great Britain and Ireland,
amount 10 81 900 ,oool.; but 10 this is to be add
ed, according 10 ihe pre- sent ridiculous mode
Of keeping the accounts, the sum of 4,245 ,2O0l.
received from The trustees for the payment of
Military and Naval Pensions (of which 1850,
74Ol. will be received by the trustees from the
Bank Of England, in further payment Of the
pure base Of part OF the annuity, and ihe re-
mainder from the Government itself, and con-
sequentIy forms part OF the item Of $500, oool,
on the opposite side Of the account. Reckon
ing, however, This as income the total revenue
will be about s5,25o,oooI. which, We appre-
bend, is the highest estimate which can be taxi
en- Of it for the present financial year. Now let
US take view OF the other side Of the &C.
count, viz The expenditure. For this we mast
refer 10 the expenditure OF last car, which was
exclusive OF the sum appropriated Tor the pur.
chase OF stock in redemption Of debD 53,ss7,
All; and 10 the estimate made by the late MIR.
Canning, in his financial expose on the list Of
June last. The sum voted this year exceeded
he votes Of last year. by soo,oool. and that la
mened Minister admitled that il circumstauc-
es did not allow Of the reductions which he
contemplated during the present year, our ex-
penSPS miRHt eACecu tnosc VI last year ny lnat
sur. AS i, has not been practicable for our
MinIstrrs,-fsom the stare Of political affairs to
make any reduction in The srmy or navy, we
might assume :hal the expenditure will nearly
amount 10 the estimated sum, but will only
assume that il will exceed the last years by
4l5.oool.
This will make the expenditure Of
the year $500 oool.
To which is 10 be added Tie a.
mount appropriated as sinking
Fund SOC 900
Total expenditure 10000 ,oooi
We have then revenue Of 53,25o ,oOok and I
an Expenditure Of 50. 900, oooL and we ask how |
the difference Of 4,76o, 0ool is to be met? At
pres, mt the deficiency Of each Quarter is made
up BY the sale Of Exchequer Bills, that is, by
an increase Of unsunded debt, for the purpose
of reducing the amount Of the funded debt, bu,
as the unfunded must again ultimately be con- |
verted into funded debt, we repeat the frequent