The national era. [volume] (Washington [D.C.]) 1847-1860, 1856-06-12
FOREIGN CORRESPONDENCE

The Chancellor of the Excheauer presented
his financial statement to the House of Com.
mons on Monday evening last. There are fea.
lures in it worth noticing. He commenced by
declaring that there was deficiency, from his
estimates, in the receipts, to the amount Of
G3,560,000, and that he had submitted resolu.
tions for loan of G5, 900 900 in consols. The
! expenditure of 1866 was G88, 800 The
| revenue that year from taxation, Cos, 7O5, 900,
leaves an excess of expenditure over revenue
OF t22,723,00O. That sum did not include the
| tl,OOOO 600 loan to Sardinia, nor some f200, 900
| spent in redeeming hereditary pensions The
sum of f26, 478,0 600 had been raised by loans,
exchequer bonds, and exchequer bills The
money borrowed was greater than the excess,
and he accounted for it in this wise The bal.
ances in the Exchequer the last day of March
were G5 ,600,000; one year before, CO, 949, 900:
from which should be deducted Ct ,000, 900 for
! Ways and Means bills.
The total expenditures of the last two finan.
cial years, including the Sandman loan, was
| Gl55, 12l 900, making an excess over the reve.
nue. of esq, OS8,000 The revenue of the two
years of war was nearly els, 900, 900 greater
than during two peace years, owing to the war
| taxation. The war had cost, in exact figures,
| G77,598,000.
The estimates for the army in the new fnan.
| cial year. before peace was declared, were
E34,9l9,000; but since the treaty of peace
has been concluded, a reduction of GA, 25l 900
had been made.
| The original estimates for the navy were
| Gl9.876,000, but they had been reduced to
| Gl6,580, 000-showing total reduction in the
army and navy of Gl7,559,5OO.
The estimated expenditures Of the coming
year were as follows: Funded debt, G27 ,635, 900
unfunded debt, 81, O25, 900: permanent char
ges on consolidated fund, 81, 100000; army,
| G20,747,000; navy, G3,56S,0 and civil
| service, E6,8O0, O00-making a total expendi-
| ture Of G75,525, 900. This sum would cover
| the expenses of the year, but he asked the
| Throne, that he might be provided against every
| emergency, to grant him power to issue ex-
chequer bills to the amount of e2,000,000.
| No change is to be made in the income tax
| which, being at the rate of sixteen pence in
the pound, brings in a revenue of Gl6.000,000.
| This tax is to be continued this and another
| year. The duty on tea is Is. Sd. per pound
and continues. Notwithstanding the outrage
| Gus tax upon tea, its consumption has increased
| from 36,O00,000 pounds in 1895 to $4,000, 900
| pounds in 1855. The increase in the consump-
ton of coffee in that time is 100000 pounds.
| The duties of the upon English and Scotch
spirits is IS. per gallon and the Chancellor felt
| justified in saying that the duty should be in
creased. The consumption of spirits in 1885
was "a, 10000 gallons; in 1855, 2l,927, 900
| gallons-showing handsome reduction. The
consumption of beer has remained nearly sta
| tionary during that time. The estimated income
for the coming year we're
Customs, G22,524, 000 Excise, Gig, 200, 900;
Post Office, Gl,7000O0; and other taxes,
e. 700, 000-these all being net and not gross
proceeds-making total of G67, l52, 900
Under the state of things, the Government
did not propose to make any increase or de-
crease in taxation, but would borrow E5, 5000
in consols.
The quantity of Exchequer bills now in
the market, according to the Chancellor, is
EGO, $4,000. The statement of the Chancellor
was received by a very thin House, for he is
not a popular man, but was generally acqui-
esced in Mr.. D'Israeli wished an explanation
of the relations of this country to Sardinia, be-
fore he consented to the fresh loan to that
Power. How could England excite any ex-
pectations in Sardinia that she would interfere
in Italian matters after her secret treaty with
Austria and France? Lord Palmerson replied
rather testify, defending the secret treaty, and
declaring that it had been very much misinter-
preted and misunderstood
The statement of the Chancellor of the Elk.
chequer Sir George Cornwall Iewisl mas
been received by the country at large without
much remark, 1t ia Just what was expected
from a man without genius, or even high Or
der of talents. The office could be quite as
well filled by head clerk in the Department
as by him. His statement was presented in {,
confused manner, and contained no indication
of reform or retrenchment Sir Robert Peel,
Mr.. D'lsraeli, or Mr.. Gladstone, could never
have unfolded budget in such dry, hack
neyed manner, and would not have come be-
fore the House at such time as this, without
some slight reforms, at least. There is little
hope, however, under the present Adninistra-
ton, for the people, and, indeed, not much I'M
der any, which is entirely made Of aristocrats
When the people are better represented in Par
lament and in the Cabinet, changes will come,
and not before.
The Italian question has not changed since
last week. 1t becomes every day graver mat
ter. Count Cavour was asked 10 say whether
Piedmont would reopen negotiations with
Rome. The reply was, "Nol not until the
Concordat with Austria be weakened, and the
States be further impaired" Austria took of.
fence at this, and threatened to withdraw her
Ambassador from Turin.
The Baron de Boyanconet has been giving
history Of the management of the war in the
Crimea, and he has made some strange revela-
tons. Among other matters, he gives an ac-
count of Canrobert's resignation. 1t seems
that it arose from the fact that he was instruct
ed by Louis Napoleon as to the plan of the
campaign. He presented the plan to Raglan,
who at once opposed it. The two Generals
were in conference for many hours, and feel. |
ing not calculated to promote the welfare of
the army or the campaign arose, and Canrobert
resigned. 1t strikes me that the stand Raglan |
made against Louis Napoleon's plan was cor. |
rect, and those who read the plan will not think
very highly of the French Emperor as mill |
tary authority. 1t is very strange that the EN- |
peror should have consented to-nay, probably |
suggested-this history of the quarrels between |
the two armies IN the Crimea. 1t will give rise |
to angry discussions, which can result in no |
good. The Emperor vaa inclined to dictate, |
and Raglan was over-cautious.
The conduct of Napoleon in reference to the |
Italian question excites a good deal of criti-
cism. While the Conference was sitting, he
promised England and Sardinia largely in ref |
erence to Italy, but since he has been strength !
ening his alliance with Austria. That his sym
pathies are towards Italian reform, there can