The New York herald., 1868-05-08

Estimated surplus. ss22,OOO
He explained how he proposed to provide for the
Promising that Mr.. Dsraelis original estimate OF
f2,0o0,0o0 for placing the army on the coast OF
Africa would not be exceeded and would represent
the cost OF the expedition up to the beginning OF the
year, It's expenses from that date he calculated at
69oo,0oo per month. made up thus:-sea transport,
1oOOOO provision for troops, EOS 00O provisions for
baggage animals, G90O00 extra allowance to troops,
910oO0; Goals, f26, 000 miscellaneous 1880 And
as it was confidently expected that the expedition
be f5O0O,O00, of which f3,0O0,OOO remained to be
provided. Ii this had been permanent eXpendi-
ture Mr.. Hunt said he should propose to raise
some part of the sum by q tax upon articles of
consumption; but considering how soon 1t would be
putting on an indirect tax for a short time and ON
taking Off again, he preferred to resort to an addi-
na ~ GO m tax Ike OF 2d thus % raising fa tne rate neo1ce @
e2,ooo,ooo Of which, however, only 81 ,Soo 600 would
come in this year. and therefore, in order to avoid
additional tax the first half year, he proposed to
take power to issue fl 100000 EXchequer bonds for
a year. to be repaid when the second half year of
the tax came in This result would be that taking
into account the surplus SO on I the ordinary Ieye, %
nse and expenditure there tM would nrs BE-
sinian war; and calculating this ut f3,000O00
for this year (and there was no reason to
believe 1t would be eXceeded) there would remain
surplus Of f122 900 and above the ordinary and
extraordinary expenditure of the year. He also
proposed to take power to renew f600 900 EXchequer
bonds, which fall due on March IS, 1869.
Mr.. GLADSTONE signifed general assent to the
scheme. admitting that 1t was wise not to disturb
trade by increasing indirect taxation, and that the
burden was fairly divided between the present and
the future. Remarking that Mr.. Hunt had not been
very liberal In his provision for the expedition he
insisted that the addition OF %. to the income tax
had been caused, not by the Abyssinan war, but by
the permanent addition to the expenditure of the
country which had occurred under this government.
TO enforce this contention he entered into an
elaborate comparison Of the estimates Of the last
three years, concluding that they had increased by
G., $40, 900 since the government come into office.
Mr.. II. Barring strongly deprecated placing the
whole cost Of the war on Income and maintained that
an addition Of five per cent to the Customs duties
would not have created so much disturbance OF trade
as had been anticipated.
Mr. HUBBARD differed from Mr.. Barring, ana pre-
ferred direct taXation but pointed out that but for
Mr.. Gladstones scheme for reducing the debt,
there would have been million applicable to the
war.
The CHANCELLOR Of the EyCHEoUER made spirited
reply to Mr. Gadstone's criticisms maintaining that
not having opposed them at the proper time he was
responsible for last years estimates as the gov
ernment; and that the late government, by Its mis-
taken parslmony had left the army and navy In such
state Of nencicncy as virtually to compel this in
ed n