Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1849-07-23
THE LYNCHBURG VIRGINIAN.
LYNCHBURG, JULY 20, 1910.
ENGLISH FINANCES.

ENbLISI1 In ANCEO'
A letter from Mr.. Golden, to the Liverpool
Financial Reform Association, now before US,
gives some interesting facts in regard to the eX-
pend lures of the British Government. their alarm
ing increase, and the absolute necessity of their
reduction. Since the date of this letter, Mr.. Cob
den made his motion in the House of Commons,
and met with quite an ignominious defeat. But
this does not dishearten him. Ga the contrary, II
has infused new zeal among the friends of finan-
cia reform, and theLeague is every where finding
new and efficient recruits When public senti-
ment is thoroughly reused, the cause must tri-
umph in both Houses of Parliament
In presenting few of Mr.. Cobden's details,
we convert the sums into federal currency to
bring them more palpably home 10 our readers.
The whole expenditure in 1885, including pay
ment of the interest on the national debt, was
S212 265 $780, For the year ending 9th April
last it amounted to 1854 $40 ,000-being an in
crease within thirteen years Of S52 STA 400. OF
this enormous sum, $l36 ,454, 400, considerably
more than half, were devoted to the payment of
interest, leaving 1928, So, 800 to defray the ex
penses of the Government. The Chancellor of
the Exchequer estimates the income, for the pres
ent year, at $3.50 957 900, and the expenditure
at half million less. The reduction made in the
navy, ordnance and Muscular eous expenses a.
mounts to 1878, 39S-a large sum, certa My, but
which affords no perceptible relief. Mr.. Golden
says the expenses of the army, navy and ord
nance, last year, including the cost of the Caffre
war amounted to the enormous sum OF &c., $780,
800, being s35 1888 800, more than the same es.
Establishments cost in 1885. There seems no rea-
sonfor this increase. The country has been at
peace and there is even now no probability of its
being engaged in war. The cost of the army and
navy seems the more disproportonate, when we
reflect that all the other expenses of the Govern
ment amount to no more than S35 ,54S, 800. 1t
is apparent therefore, that these branches of the
public service present the most hopeful fields for
retrenchment, land Mr.. Cobden..s plan is to reduce
the expenditure to what it was in 1885, andthus
save annually, more than all that it takes to main
tain our army, navy and Notifications, and TO de-
fray the civil list and pay the interest of the pub
lie debt.
There are some facts, brought to light by Mr..
Cobden which find singular parallel in the his
tory of our own country within the same space
of time. Among the watchwords of the party in
favor of Reform there was none more potent than
ECONOMY" The enormity of the sums eXpen-
ded by the Government-the grinding taxation
necessary to support this eXtravaga the
indispensable necessity of reducing the eXpendi-
lures, were the topics Of every Reform orator. in
and out of Parliament. Retrenchment and ma
tional bankruptcy were the alternatives; and re-
trenchment, it was alleged, could be effected on
ly by means parliamentary reform, which would
give fairer representation to the people and rem
der their voice more potent. The Reform bill
was carried in 1S32-and what has been the re-
suit? The answer can best be given Statisticay.
The expenditure of the Government, for all pur-
poses otherthan the interest Of the public debt,
during 1880, the last year of the so called profit
gate and extravagant Pee! and Wellington adj
mnistration, amounted to $50, SIS, 200-or rath-
er less than the cost of the army and navy last
wear Mr.. Golden shows that the fruits of Re-
form are an increase Of expenditure to the ex-
tent of 80 per cent-and that too in the absence
of any thing in the state of tile foreign relations
which would render it necessary. He also shows
that had the expenditure not been thus amazing
y and unnecessarily increased, there would have
been handsome surplus, even without the in
come tax.
Many ofour. readers cannot have forgotten the
outcry, raised by the opponents of Mr.. Adams,
as to the extravaganza of his adminstration-re-
ally one of the most economical known in our an
mails. They can still less have forgotten that the
reign of Jacksonism was characterised by'a great
addition to the public expendlture-that, in fact,
exclusive Of payments on account of the public
debt and interest, the average yearly expenditure
of the first eight years Of Democratic rule was
nearly one hundred per cent more than the aver
age of Mr.. Adams administration.
Demagogueism is the same-whether in En-
gland, the United States, or France.