New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-02-25
THE ENGLISH BUDGET.

From Occasional Core spondent.
LONDON, Feb. II, 1860.
The last was great night, in the Parliamentary
sense of the word. Mr.. Gladstone, in an immense
speech, simultaneously divulged the mysteries Of
bis budget and Of the commercial treaty, linking
both carefully together, and propping the fralty Of
| the one by the bOldpess of the other. As to the
treaty, low laid with all its details before the
world, you will find the sketch gave you many
weeks ago 10 have been quite correct, and in fact
have nothing to add to the general criticism [
yentured upon at the time. Consequently, / pro-
pose considering Mr.. GladstOne's budget as a sim
pie operation of English finance, treatment of
the subject the more called for since the impending
Parliamentary debates are sure to ealighten us. by
the by on the diplomatic undercurrent Mr.. Glad
stones facts and figures.
Now, whatever incOnsistencesmay he traced in the
details of the budgets whatever political objections
may be raised against the prudence Of answering
deficit of more than Ia per cent on the total rev.
enue, and vast increase of expenditure, by one
full sweep of many existing duties part Of which
did hardly weigh upon the mass of the people; never
tbeess, common fairness obliges me to- ssy
that Mr.. Gladstone's budget is a. great aud
bold stroke of financial ingenuity, and that
the British Free-Irsde doctrines once accept
cessitated by the treaty with France, az well
as by the tenderness every British Chancellor OF
the Exchequer will always bring to bear upon tne
rent-rOlls of the ~, 600 paramount landioiuh-hs
fair budget The position of MI Gladstone was
fraupht with difficulties created by ,hinSeih ne vas
the man who in 1853 in his called standard budget
prOspectyely extending over space OF seven years,
lad pledged himself to definitely 40 away. with the
income fax in lS6O-6l. lie again, m o supple
mentary budget called into life by the Rnssan war,
had promised to abolish, at no distant date, the
war duty on tea and sugar. The same man. Row
that his prornissory bills have fallen due, for
ward with a scheme in which the latter daty is
maintained while the income tax 10 enhanced from
Cd Ia IOd in the pound that is to say, by NJ 10
Der cent But, you will remember that. in my
structures of bis budget of 1853, tried to prove
that if the financial Legislature of freeirade
meant ANYTHING, II meant indirect taxation, being
Displaced by direct taxation. dyYelt at the
time the inconpatibility of Mr.. Glads.one's
pledge Of going on Eith the removal Of custsm and
excise duties, With his simultaneous psedge OF
altogether expunging the income tax from the tax
CATERERS list. The income tax. only that It ia
partially, unjusay. and even stupidity laid on Is the
best item in sglish financislaw. That Mr.. Glad
'sane, insteal Of seriously taxing ana,d property,
maintains war duty upon such first necessities Us
Tea aud sugar is q cowardlce dns much more 10
the aristoSEatc structure OF Parliament than to any
narrowness of mind ON his part. u he had dared
lay bis bands on the rent-rolIs, the Cabinet whose
prospects of life are preearops enough, would have
gone 10 the wall in no time. Ii - an old provere
that the belly has no ears, hut il is no less true that
! rept.ros have no conscience. -,
Before giving succinct stat emest OF the atera.
tions contemplated by Mr.. Gladstone, shsli mrs,
can the attention of tho resder to some nciden's
remarks dropped in the course Of his speech, fms'
then, the Chancellor OF the Exchequef aam..o ~
see EsxAsh Page, -