, 1866-05-22
THE HfR1TIAlI NATIONAL.

~ n.
i, 1nc speech Of MIR. Gladstone, introducing
Sue annual budget or financial scheme OF
Great Britain FOR the current wear cn,hrncex
some remarks on The national DEBT of that
country which arc of sufficient Interest 4,
other countries TO command the General NJ.
tention Of christcndom. We hive accordinc,
~ tfaosfcrTed them TO our columns. Ths
Ideas set forth concerning the relations or fhc
coal supply Of England to the public debt gere
hsst bronchcd by Mr. John Stuart Mill III.
new member for Westminster, who has now
adosa 10 the honor Of having made the best
'eecn on the Reform Bill. and Of hayiop ex.
<poEaoed The cotFect principles OF political
1n 1elattao to TIE Cattle Plague Bill.
1hat OF having turned the most sacacious
minds N England to The contemplation OF
Inc possibility, and Indeed the necessity of I
paying od, or greatly reducing, the national |
debt. The London journals hare been lately |
discussing The subject with much ea1ucstncss
ali pointing 10 The Aame conclusion. namely.
that 1t behoorcs the people Of Great Britain |
10 put their house in order to meet
The probable exhaustion OF their cos1
fields, which may be looked for within tho
next one hundred years. The highest scien.
tiac authorities In the kingdom estimate that
all the coal within 4 900 feet OF the surface
VIII be consumed R1thin that period. The
consequences Of TN exhaustion of the cosl
supply nre presented by Mr.. Gladstone In a
comprehensive and not exaggerated picture.
He predicts that upon this evcntuality. The
movable capital and labor Of England will
transfer themselves to other countries, and
chiefly to the United Statcs, whose coal area
Is htrty.scven times greater than that of
Great Britain, leaving the fixed and immoy-
oh to1 w 81, Er. = ~ I
to carTy on The smelling and manufacturing
Of England Is simply impossible, because her
pTcemfncncc in those branches of industry de-
pcnds upon the existence Of coal at the doors
OF her mills and foundries. And even though
science shouldkprodnce substitute for coal
It would apply to MI the world alike. and
destroy the prominence ofEngland 60 fur as
II depends on cheap coal and IN point offact !
II does depend upon that Mt the present time.
Coal is cheaper In England That anywhere
else, aud hence iron and cloth arc cheaper
there than elsewhere.
Without rlacinE too mnch stress upon the
fact that the coal supply of Great Britain I
will be exhausted In about thee generations,
and without overlooking The possible aclIere. l
mems OF science In the direction OF providing &
Il new motor or substitute Tor coal, the g
Chancellor Of the Exchcqncr deems It fna- /
portnpt that the present generation should !
20 seriously 10 work 10 remove the Fast ]
Of 4soo, 600 900 Which now covers
the whole property Of the United Kingdom. {
As beginning he proposes scheme which c
will reduce the t.cbt G3o. 500 600 or Q
about S.noooy 900, In the year 1856. This \
will not LH called reducing the debt b
at ealiopmg 7aoe, es It anoun q to but IT. "
Tie moro than. SO, Goo oao per year, against n
proposed rcductios Of $50, ,ooo, 600 per year In
the United States. But It is q beginning, aud al
when John Bull earnestly sets aboat anything IT
u financial way he accnmplishes great ir
deal. The money power Of Great Britain ID fo
% vast, md Is increasing Mt such pace, that e.
.hc phrases commonly Ii use to express wealth Il
all 10 characterize H. Great rs is the debt. vi
Or. 70 av,>npsex oT bor ors.. be