New-York daily tribune., 1859-08-02
GREAT BRITAIN.
THE ENGLISH BUDGET.


mittee of Ways and Means,
The Chancellor of the Exchequer (Mr. Gadstone)
made his financial statement lie presumed, he said,
that il would be for the convenience OF TIE COMMITTEE
to follow the usual practice, and to make known The
result of tie finances of the past year The total
T. venue of the year had been estimated at f63 800,
600: had produced f65477 900. The total actual
expenditure had been E64, 1000, against a
revenue Of G65, AZ 900, leaviog surplus OF
GS0OOOO. The result Of the duty upon drafts
aud checks could not be correctly ascertained. its
amount had been estimated at t3oO, ,OOO; but he
thought it would not exceed t2OO,oO0. Inere was
an exemption Of checks drawn by the proprietor and
psid 10 him over the counter. and this exemption he
should propOse 10 remove. Tie equalization OF the
spirit duties, which was measure OF hscai reform IN
dependent Of pecunlaly results, had been esated 10
NrlU al additional revenue OF tJUO,uUu, but the
produce in 1853 compared with tnst 0i
1919, showed al Increase Of only to9OOO.
There was prospect, however, OF the DUTY Oeing
considerably more productive. Mr.. GisdstOhe tneh
addressed himself to what he termed the more grav
and serious part Of his task, by stating the estimate
amount If the revenue expenditure OF the curren
wear and the extent which the latter would exceed
the ways end means, or ordinary revenue of ths
country.
Customs
Stsups SlocO
Land and Assessed Taxes, so sC"
r,S, -. " ..................... 2SOOo0
'...tOi9ioV)V
rsTtMArCD EXPENDITURE.
Funded and Uufunoed Debt
Cna-ges Consolidated Fund .....'....''''' so
Navy Gncludius Packetservcel. l2S3@S
Civil Services Tl909
Total .........................S692 2O7, 900
The estimated revenue being t6i, ,OO0, and the
estimated expenditure E69 2' OOO, there would De
GROSS deficiency in the current year OF ti,o0' UUU
This being the time when il became the Committee %
make adeauste snd eff ove provision for the wants OF
the wear II wss likewise Il time when It's attention
should be rsidy confined to the wants OF the year the
charges b. il % az exceptional character, especlsy
thos. for TIE army and navy The Comm'.e .ee mere
iore were rot TO busy themselves with comprehensive
rl.rs of fnarce upon the present occasion; next year
would be necessary to enter upon larger views Of
our fnancis sy stem, for neGt year The income TAX
would lapse, well as CERTAIN war dunes upon Tea
and sugar and on the othei nand, the I.oDs @ @Anhui
lies would fall in. Her Msiestys Government,
therefore would 20, enter upon considerations oi pro
pectiye finance they confined themselves 10 temp,
Iarv and almost provisional finance. lie now asked
,hr Committee 10 consider what modes of supply
colf br devised 10 meet the deficiency the EST
mates. This great question divided itself INTO Two
hrsnches-shon.d we attempt TO raise the necessary
funds by borrowing or by taxes Inc sum required
90 hefween { ! 600 900 ard 20 UOO,OV0 IhlS was
large sum e demand from tax payers. On the other
hand II wss sum tha. had never driven the brilsh
Parliament 10 the expedient Of augmentlng the ha,
tirLal debt which nothing but dire Necessity should
induce II 10 do. II appeared 70 linn that 'osn oushI
Iot 20 BE rssorted TO- that there never was pctod
when the pecI e of England were more satsneu V Ine
Justice ana necessity OF the demands on the phohc
purse or more able wiling - meet those ueAlanus'
There vas another reason against resortng 20 ioah
-namey. that there would be another borrower Ia
the market on account of the eN-ences oi Indla'
lis observation applied not only TO the creation OF
nermapent debt but to the issue Of Exchequer bills,
ibe effect of which not 20 throw OIL the burden
upop 0steliy but upon the year StO already charged
~ m, very utmost. Then If We were driven by con-
d.ratons If Justice and policy to the alternative OF
inc Ia taxes tor the of meeting the expend
,nr al the next year. should the taxation be direct or
;r}isc1 tn, srticas for indirect taxation mst,
sY;,it. tea and sugar. In his opinion, Il was not
desirable to propose an augmentation OF the duiy
-, nall and IL wouli bs unsise and premature
., 80 he question as 10 the general incresse
of g. sriri, duties; 30 thst ne ther max nor
s,irits b.J ont the hope OF a resource WIN
,ee.,sc4 IN tsa and sugsr, reminding the COMMITTEE
49, tbsv we're not dealing With prospective lhaAce,
In, 6rsnce for the moment, he insisted upon the
;,noIicv in the interests Of trade as Wei a. ior
~ rsssors amounting he cors iered, 20 demon rs-
I'm of ircressiDg the duties OF customs 9r e1ciSs'
mis- bsipg so they arrived az pont inst u'sh1 po
,,.ily apucipaied- shat they should DO "'a Tue u
come tax That tax had been orignaIy ulIeluye Io'
two objects: first 10 make reforms IN ouI ns-' u
tsn,, secondly 10 meet sudden pubic e4 seuoeS
wben i; was for the dignity, honor ana sae'y =. e
country tha, efforts should be made 70 aus sucne 'uv
rational defenses tho income tax was, noo'o M a'
others a regular and legitimate resource EknSS
deficiency 10 he met, ss he sta'e.', va =,
In the first place, the GoVernmenl er,s,
nf