, 1865-07-21
From tile 81. Thomas Times Correspomdent.J
Southampton, July 3, 1865.

III III
30th ultimo, show no diminution in the
prosperity of the country. Each success
sive Return (says the London TymeSl is
marked by the same prevailing features.
The immense reductions of taxation make
for a while a gap in the produce Of the
Revenue, but the flood Of material pro-
gress rolls on, and soon rises it to more
than it's former level. It is the total of
the Customs and Excise which furnishes
the best proof of the welIbeing of the
country, and in neither Of these is there
anything to show hat the tide is turning,
or even stationary. A Quarter is so Short
Il period that it is almost impossible to
Judge the effect Of financial changes by
merely looking at the two or three months
that succeed a Budget, but in spite of the
measures of the year, the Customs for
the Quarter ending June 80, 1865, amount
TO 5,178,000I, against 5,446, 0OOL. for the
corresponding Quarter of last year. The
Excise Is almost exactly stationary, being
1865, 0O0L, or precisely 1,000J. more than
in the same Quarter last year. But-it is
more interesting and instructive to look
at finance on Il larger scale, and the
means TO do so are supplied by the table
for the years ending June 80, 1864 and
1865. There is a decrease on the Gus
toms of 5l7,0O0L-namely, from 22,82I,-
O00L to %, 304 ,000i. This is, of course,
mainly owing to The falling off on sugar
following the legislation of last wear.
But the circumstance that there is also a
decrease on the Quarter just ended, com
pared with the corresponding Quarter
last year, Of 268,0OOL. indicates that the
recent reduction of the tea duty plays it's
part In this diminution. On the whole,
1t may be said hat the reduction of tax
alton accounts for all the decrease which
the customs exhibit, and that the con-
sumption Of the relieved articles accord
Ing to other Returns, goes on constantly
increasing. Ii any proof Of the growth
OF the popular consumption were want
ed, 1T would be supplied by the i%acreas-
ed productiveness Of the Excise, which
has risen in a year from 1866, OO0L. TO
1859, OOOL That this immense sum
should be paid by the people as a tax on
their lndulgences may be depIored by
phlIanthropiSts, but it is exceedingly sa-
tlsfactory to the financier, and may be
accepted, even by those who regret it,
as q proof that the country is generally
prosperous. The other Returns are Of
the usual character, There is an increase
on the year Of 10000. on Stamps and
7,OOOL on Taxes, and no less than 900, OOOL.
on the Post-ofice-namely, from $780,
OO0G. to 4,110,00W The Post-ofice Re-
turns arc Il measure of moral and intel
lectual progress, as those Of the Excise
are of material wellbeing, and it is most
satisfactory to the friends Of education to
find that every year the produce of this
department SO rapidly increases. The
sum raised during the year just conclu-
ded is 69,580, 1861. against 5000, 1891.
The present state of the national finances
shows a great change from the days when
the present Parliament first met, although
the amount raised is not very different.
Six years ago, when Lord Palmerston's
Ministry came into Office it found that
though the expenditure might be estima-
ted at SO or 70 millions, the Revenue
would probably fall short of that amount
by four or five millions. Then came the
time of enormous expenditure on militia
ry and naval matters. In 1860 the expen-
diture of the country rose to TO- 900, OOOL..