The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-05-11

present exhibits. During the whole of this period
nominal sinking fund has appeared in the annual
balance Sheets but the revenues belonging to have,
after the ordinary fashion OF sinking funds, been
appropriated to the current expenses of successive
years; nor have they been sufficient to restore the
equilibrium. The total expenditure including certain
public works. is about f7O 900 OOO SO that It consi-
deraby exceeds our own; but the very different mode
in which the accounts OF England and France are
and probably fallacous. The French civil list is
treated as portion of the national debt and il is
not unusual to follow the same precedent by making
grants or annutles IN the form OF charges, not on
funded debt properly called, entails q charge of
from GA 100000 to fl5,0O0,0OO, and the floating
debt, including not only exchequer bills, but the
property Of the savings banks OF municipalities and
of other local bodies amounted at the beginning OF
the present year to more than f32 ,0000 900.
England, with it's enormous debt bequeathed
by former generations has certainly no reason
to be ashamed of the comparative results of
a financial policy at the same time holder and more
prudent. French fnanciers have submitted to a
chronic deficit, and have almost doubled the pablo
debt during the same period which has been cha
racterized in England by the most extraordinary
financial prosperity. The Russian war, the dearth
of 1856 and the foundations of 1857 serve to
the seeming extravaganza of the Imperial system;
but the Irish famine cost more than all the national
calamites which France has suffered i'll the last
twenty years, and the wealth OF England was sown
broadcast during the war by sea and by land TO an
amount which exceeded even the large expenditure
Of France. It is scarcely matter Of Boosting that
this country is richer and more peaceable than the
most prosperous State on the Continent but it may
be safely asserted that the traditions Of the Ex-
chequer and of the House Of Commons are more
favorable to sound fiscal administration than the
doctrines which find favor at the Tuileres.
It happens, eddy enough, that the same number
of the Monitsr contains the report on the financial
scheme for 1859 and the examination OF the detini-
tive balance sheet for 1855 and it is remarkable
that both the reporters in the name of their respec
tive commissions, intimate hut qualified and
conventional approval of the financial proceedings
of the government. The prospective budget is so
far satisfactory that it holds out hopes OF pro-
sinking fund; but, as the organ Of the com
mission forcibly remarks, the value of a sinking
fund mainly depends on the sincerity and
genuinensss of the operation The leSlsa
mode of proceeding on the part Of the govern.
ment which renders the publication of the budget
to certain extent nugatory, and at the same time
destroys all hope of financial equilibrium.
The supplementary extraordinary credits which
are from time to time opened by the ministerial
departments, are in the language of the reporter,
lated deficits resulting from this cause amounted
at the beginning OF 1857 to the enormous
sum of f3s 100000. The government is with
significant earnestness complimented on its de-
termination to commence the year 1859 with
a strict adherence to parliamentary credits, Cd
which the operation of the sinking fund is
altogether contingent. Praise avowedly deserved
except by future achievements may be considered
as satire in the thinnest possible disguise and the
legislative body is not content with this broad hint
of its discomfort with the Imperial system Of finance.
The report shows that the apparent equilibrium is
only rendered possible by temporary increase in
the per centage Of the direct taxes and it forcbly
insists the necessity of reducing the general ex.
pense of administration In the present condition of
France some credit is due to the frankness OF the sug
geston that every individual, every joint stock COM
pany, and every municipal corporation might find the
same excuses for excess of expenditure reve
nue. which have been thought sufficient to justify the
frav anceo f no
! of q body certainly not deficient in complaisance
or in loyalty will exercise beneficial effect In quiet
ing the alarms which have been occasionally recent
| eccentricities in high quarters. Ii seems certain
that the intelligent classes IN France entertain no de
at present TO purchase barren glory at the cost Of
fro three hundred additional millions of deH and
| of ten years Of deficit.
The report on the detinitive budget Of 1855 ex-
presses the dissatisfaction in still stronger
terms, while it illustrates the grievance Of supple
mentary credits by some startling details. In that
year the cost Of the additional buildings Of the
Palace Of Industry exceeded the estimates and vote
OF supply by fl3O,0O0 the works at the Louvre
by fl60O00, and the execution of she will Of
Napoleon j. by 100000. Among the other unau-
thcrzed items of expenditure various sums paid
for the publication OF the works of Napoleon l., for
the funeral Of the Minister OF Marine, for public
f6fe, for the Council of State, and for the Opera
The expenses Of the loans and OF the floating debt
increased the supplementary credits by than e.
500 600, and every Of the nine great public ocss
contributed its share to the irreguarty France is
II
OF customs duties II possesses neglected hoard OF
wealth which may in some more enlightened
epoch become largely available; but no household,
! public OF private, can long be maintained while
every functionary is allowed TO help himself 80
| freely from the common funds OF the State.
The total excess Of outlay ia 1855 over the esi-
| mates and supplies amounted TO the almost incredi
BILE sum of nearly 100000 00 The greater part OF
! the additional expense must, Of course, be attri
buted to the war; but the report proves that in
| every other department Of the public service the
| limits of the budget tcers erceeded Nth the most
| reckless Indifference. The heavy burdens which
| have been entailed on the nation win. however, be
fully compensated IL the government il induced TO
seek mode Of escaping from financial compca-
| tons by relying on the advice and cooperation OF
those whom it professedy recognizes as the repre-
sentatives Of the people.
Obituary.
ADMIRAL GARDEN, r. ~, FORMER CAPTAIN OF TIE
| MACEDONIA.
| From the London Times, April n.
Admiral John SurmAn Garden died ii the cose Of the
past week II Baycaste, Antrim. He born h iii,
and entered the navy 81 very early age As midship
In the Marlborough he took part In Lord Ho~e's
morabe action IN which he sustained injury, Aad
gained his commission Lieutenant In the July folio wing
When First Lieutenant Of the fsgard, Gap,an Thomas
Pyam Martin he obtained great praise for his steady good
conduct Ut the capture fOctober 17ps) ater close AMI
obstinate conflict OF the French rigae Lmmortans 81
guns He accompanied the expedition the Helder and
/ mmanded division OF boas n the debarcacn