New-York daily tribune., 1859-08-02

10 prii ciple-uight be n.0dlheJ snd they prop,sad
to take ssoy FIX weeks of the credit and 70 slow a
discount OF per cent on the paymeu' The erect ot
this would be 10 bnr into the FScneluer before the
lst of April next Of E7SO,OO, which would
otherwise be paid un the following inancisl esr
II is would reduce the deficiency Of + iSb' "" 10
little f4oNCC0 aud this 1t proposed TO raise
by an augmentation If the Income tax. The present
rate was ID. in the pound. An ADDITIONAL ID IN the
POUND would give something over tfco'tN1. II
would be recesssry to reiutodgce the distinction be-
tween incomes ruder ESQ and above that amount
H proposed that the additional 81. in the plInd on
the macs of the Ircoue-.ax payers ehonld stop az iE
comes Of fIdJ; and be proposed thas tae ang-
m.Ited tax should be liable upon the first half
yearly payment after the resoluton should have
been adopted by the House The effect wO1ld be tist
IN the Autum or Wiuer quarter the tax upon all per-
with incomes above I 80 year would be o3d,
or at the rate annually Of H. sbd id. upon incomes
under fiG. Ths addition to the lax would produce
e $40 go, ard this added to E1Sy,GjJ wonli
Pive C., ,I20 coo; dednetirg the deficiency oi t -
So COO, there would remain surplus oi q -S3,rV.
During the current year q tun OF about 1il|,UVv
would become 20 on account Of the lat payment Of
Long Anuuitcs; but tie stste OF the cssn balances
would render suy prov sion to meet thi- demand un-
recessary. Mr. Glsd't oe concluded by movrg
formal vote Of Ways Gnd Means, aud lad upoa the
ta PIE two resolutions relating 10 the malt duties and
the iroome-isx, TO be taken INTO consideration on
Thundsy.
The Budget OF 1879 u 5 e1cepioas. and Temporary,
but witbal mott important, legislative proposal.
TIE scheme put forth by Mr.. Gladstone Oh Monday
evening Will lose Of lis interest through his
surArce that il not intended to be permanent pros
Iecye ana the state If finance. @hlcn II reveals
will have the full attention of every class of English
mfn Timer are indeed changed suics Mr.. GisdstOLe
Drought IL his crest Budget If 1888 1hen we we're
in state If profound peace a1c though thoTe were
s0me disputes about tne Hon Places between ne En-
peror Of the French and The Russian Gar YET ore
conceived that the peace Of Europe was about -
be broken and tie expenses OF every nstion
enorn ously Increased. Ia lS5J only Fix years ago,
the expenditure Of this country fer all purposes
was ony 5000 GG0; for tho year 1883 II vii
he no less than 90 millions. According to Mr. Gial-
stone the total of the last year ha1 ben est
IT sfed at I6S, SEQ coo, and il tss produced Eo5,-
AZ go. Tie total expenditure had been 6i 6o3OOJ
leaving surplus Of fSC0,OO0 FOR the present year
tire revenue would be E6i 10000, and the e&gendl-
itwe f69 2d7,G60. The interest on the Debt will con-
eufne q coo coo of this arOoHt; .he Army idcud1g
Militia VIII cost the eLOTrnou4 sum Of Gl33O0, GOO;
the Navy, including the Packet Service, T. 'o2VVU.
Such are the 8Isourtc that We pay for past or
iuture wars. But this year Is entirely eScep-
tionsl. and the cXpedienis to meet its wants
must be temporary. Next year Annnltles to
large amount fa'l il, but. on the other hshd, the
IncOme-tsx must, II promises be kept, cease to
he levied, and other lmpOsts established IN time
Of war must slso cone 10 an end. The situation OF
Europe may also change. Pence aud War nov
hang bv a thread and it IL possible tins. before
the Chancellor Of the Exchequer for 1861 Is called
upon TO propose his Buuge' this country may either
enjoy al assured Peace be engaged ia costly an1
obstinate All fnaLciai considerations counsel
that the Government OF next year should be ieit TO
propose an entirely scheme 20 Parliament aud
that we should limit ourselves for the present 10 the
wants OF this anxious and unsettled year. The que,ton
for Parliament is how il the deficiency 10 tGe Estl
mates to be net Without entering on prospective
finance and merely cOniinug themselves 10 tempo
rary and provisional expedents how could the sum OF
nearly G5,OOO,OoO be raised There were two
modes OF raising this sum, Ike any other
One was bv borrowing. Now, 10 borrow IN time ot
war very sensible and Justiiiabe eXPedeni. The
SUMS wanted IN suc large and Il j. but Just
that po-teri,y should pay for wsr, OF which pOeTty
resps ia of the advantage But IN the case Oi
an ordinary deficiency of the reycrue no such doctrine
could be held. Certainly four MILLIONS At such time
are a great burden the British taxpayer, but when
Epg!shmen aIe satisfied Of the justice ~ demands tney
are rot SOW to meet them Nj GLADSTONE, then, takes
il for granted that the L 500 600 must be raised by
taxation and not by losI an. having dismissed malt
Spirits tea and SUGAR uuht srblects tor addilpnai
in poss he proposes 10 raise the whole four millions
by an augmertat.c of the incOme-tax The present
rate 3D. in the pound sterling Ihis he proposes to
rase to I'd. persons with ,ncouer aD0ve tio5
yearly, s1d lnst the augmented tax shall be levied
pon tie fir; half yearly payment after the resolution
shall have been ADOPTED by the House.
Thus after Is years Of waiting We have, instead ot
the cessation of the income tax, an Increase Of II to
% in the pound, with must frankly say. little
chance of a decrease long a. the sta g o Europe
rmans urchanc d. This year shan have PAD up-
ward of G26OCo 100 for the nsnonal deen,e anu the
general expenditure has Increased u nearly tUOOOOJO
sterling. Can any human beng declare that next year
il will be less ? AZ long the Chief of ,e French
nation continues biz upquie policy II Europe y VIII be
necessary for these arnsmerts 10 be kept up ano'
amid all their pecunisry pTiyatOns EngllshUen Will De
content if they fibd that tie country Is maize secure
against any coming Storm But we cannot lelp think
il that no long time Will elape before the public viii
begin TO inquire whether there Is anything IN sue. a
peace which "a preferable to var, aud le.her the
ir0suective dis buTscfneot of nearly t O uu yearly,
and The consequent exhaustion Of our resources Is not
ap evil amos' as great as war ITSELF
The statements Of Mr.. Gladstone on this point are
mos, interesting lie compares 1889 wl'h 1893, AMI,
while tsknC credit fol the iulGment o. macy inanela
plropheces shows the Tuinous increase OF taxato
within the last six years. If we could feel eecufe s
the srmamen's of 1853 all the obnoxious taxes o the
present dsy night be easily swept away There was,
In 1853 an expectation founded on the vast Increase
Of wealth and trade consequent on the repeal oi the
Corn Laws that in few years the Income tSA ID %.
be dispensed with altogether. And 80 lar as the
revenue of the country concerned this expects
was not deceived The Increase OF yield from every
kind Of taxation has been gfcat that, win au eqda
expenditure, the Income-tax might have been d!s'
pensed with altogether. In ls53 the income OF the
country " az - coo o0O now tits t0i OOOOOO, show
"iug growth Of E53l60oo which u sum a. large as
ian Income.tax Of Sd. in tue pound. But the pthet
side Of the picture is not 80 favorable. e must
"bAlspce our revenue with our expenditure. The eN
"ue1dt ture of 1853 was Ejj169,0'O. The estimated
expenditure Of 1890 l. Iby,3D' wv 80 thAt
"vhle our revenue has been growing E',Jlo,VJO,
"our expenditure has grown El3, ~, VUJ SucA 10
the plair and ineligible statement Of the Chancellor
of tie Exchequer ard It is for the people 81 T.
gland to ponder over Thirteen millions annually al
ditional and about eight millions OF them spent Wholly
on wsrlke armaments since the beginning of the
FTencb Enperors reign; the hopes q the country for
an sevist6n Of It's burdens blgh.ed the earnings OF
az industrious race swaosed up in the ever open gut
Of military preparation, and 10 man knowing what
another month may bring forth Such IS the situation
of Eutope and such the causes Of extra id on the
Income lax OF loJ9.
The question for his long-s1ffering and Industrious
people IS how long these bur lens are to be borne
The despotic Government which exists IN France
Lar only ~ q, cnlnI-Y huI eNery