New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-03-24

The probable estimate Of the revenue for the year
ls54-5 viii be:
n rs 20, Po.tts, go go
Excise 1890 oro-n sno'''''''' 40 800
S.Iei....... ss6eoo ssceneca'. seoe
IneOHe'a' Ta;:; i,,o. oz'" IS,
The probable estimate Of expenditure On the other
T~nS.5 sz7 roo Corni...ri.t as oo
fy y'1sS.S SIS 900 N.cesn-Ous .ss 4155 go
sSssy,o.e 'e"a s5,sSs Fiess; ,ss 90 90
s,!y.::........ sss" GOO Eastern 's'v''''''' iz1cD
Tot.i :Ip:n aiuIs $ s, go
posors sdyertng 70 the means by which this de.
fciepcv was TO be made up Mr. Gladstone ehu"erateu
the measures which Government womb mol RECON-
mend the House TO adopt He should NOT Ie'9r. ~
the rempoeton of any Of those reductions OF duties
be had proposed last year. which had ALREADY sc9reo
The force Of law He would not assent 70 the reih-
postioD of these taxes unnecessarily "n'ch ioii,i
Governments had released If however, the struggle
thew were now entering upon should he prolonged Iot
year it would hardly be in their power to MAINTAIN
pcrmapent continuance of those reductions In g7n-
era he would not propose any addition to narect TAX
alton He should not resort 10 stateloans tReIe oeng
no country whose means were already so heavily mort
osoed AZ those of England At length, after all these
1resmbles Mr. Gladstone came to the announcement
what the Government intended to propose Ihis was
70 double the Incoetax for six months and to aoosh
altogether the existing distraction between
and foreign drawn bills. The average rate OF duy on
present bills Of exchange although unequaly dislrio
nted was Ij6 per cent; he proposed to eqnahze
il to II per cent This change, he calcuated,
would produce an increase Of revenue OF t6o,ooo
With regard to the incOmetax, the inrease
would be from n to j101 in the pound on incomes oil
ESQ and upward and from IS to ~ on incomes be,
tween G1O6 and ESQ. Simultaneously he proposed
that the House should make proposition to enable
him. before the tax was levied. to issue fl,75oOoo
excbequer bills to be paid out of the accrung produce
of the ncome.tax In conclusion, MI. Gladstone en-
deayored not very successfully, to vindcate HE late
measures for the reduction of the public debt meas
ures which resulted as you know, IN a lamentaole
failure
In the discussion following upon this statement sew
eral members partook but the only speech worth
mentioning was that ofMr. Disrael He declared that
lie should make opposition 10 any vote which Govern
ment on their own responsibility, thought necessary
10 submit TO the House for the purpose oil conducting
the impending with vgor and he hoped with sue
cess But he protested in of the war being pro-
loDged against direct taxation being exclusively had
recourse to for carrying the As to the sec
ond part of Mr. GladstOnes statement that which re-
lated to the actual state of the finances of the country
and as TO the money in hand it seemed to him nvovedn
an obcury which did not become financial statement,
and certainly not delivered under such clrcum
stances the present one The present state oil the
balance in the Excbequer not sufficient or salts
factory. When the present Government took office,
there had BEEN on the Sd January, 1853 balances in
the Exchequer amounting to G9,OO0,00O but year
after, in January, 1854, they were reduced oy
one.lalf He estimated that the balances in the
Fxchequer on April 9TH next would be G3O0O,OO0,
while the expenditure, consisting of the dvl-
dends for the payment of the public creditors
and the execution of his conversion scheme would al
together require from G9,O0O,CO0 to OOO The
right honorable gentlemen said there was no use of
meeting this with balances in the Exchequer but that
he would makeup the sum wanted by deficiency bills.
He maintained that it was of great importance they
should have had at this moment ample balance but
instead of its being question whether they were to
have balance, excess of balances, it was now
question whether they to nave balance at ALL or
large deficiency, and in fact, instead Of having any
balance, they had enormous deficiency, which had
been caused in two ways by the Chancellor of the Ex
chequer First by having reduced the interest on Ex
chequer bills to IA per cent when the value of money
was rising, and secondly by his illdevsed conversion
Of the South Sea stocks, measure which had not only
eaten up his balances but left him in present def
cheney of f2,O00,000.
Some further remarks Of an Indifferent character
having been made by other members, the Report on
Supply was brought up and the resolution agreed TO-