The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-04-24
ENGLAND.

darcy Mc(sce's MemOry-The Budget
lRevenue Returns and Expenditurcs-Cost
Of the Abyssinian War.
LONDON, April 23-Midnight.
In the House Of Lords tonight the Duke of Buck
ingham and the Earl OF Carnarvon euogized the late
Mr.. Thomas darcy MCGEE, of Canada, who was
struck down by the hand Of an assassin.
In the House Of Commons Mr. Ward Hunt, Chan
cellor Of the Exchequer, submitted the annual
budget. The revenue for the last fiscal year, which
had been estimated at f7O,Oo00Oo yielded total OF
500 100000, falling about one-third OF million below
the estimate made by the government. The real in
crease OF the revenue amounted to nearly f900 OOO
The expenditures OF the last year, estimated at about
Ell 100000, fall 100000 short OF that amount The
surplus Of receipts over expenditures, during the
coming fiscal year, is estimated by the Minister at
f92O,0oO.
The cost OF the Abyssnan war is estimated at
10000 o. OF this amount balance OF f3 600 900 is
TO be met during the ensuing year, as follows:-Firs
by the addition OF two pence to the rate of the in
come tax, which will realize nearly e. 600 600; Sec
ond, by the issue OF exchequer bills to the amount OF
fOOoOOO; and third, by the application Of the esti-
mated surplus OF f92o, 900. Thus the Minister esti-
mates tina, he will have 100000 or 100000 pounds
sterling than he needs to meet the expense OF
the war.
Mr. Gladstone made some brief remarks on the
estimates submitted by the Ministry. He said he
preferred the imposition of an income tax to any
addition to the burdens on trade. He thought the
cost OF the Abyssinan war was underestlmated He
censured the government for Its increasing expend-
lures, which every effort should be made to reduce.
Mr.. Thomas Barring, member for Huntingdon
urged an increase Of the customs duties.
Sir Stafford Northcote explained that the reduced
estimate OF the expenses Of the Abyssinian war
was based upon and fully justified by the great re-
duction In the transportation service.
Mr. Ward Hunt defended the budget from the
criticisms OF Mr.. Gladstone The House which
adopted the estimates last year was responsible for
them. The OUTLAWS on forts and for the navy which
had been neglected by the liberals when In power
were necessary and could not be avoided. The sur
plus Of other years reduced this year by nnan-
cai distress, bad crops. and depressed state OF
tradecauses entirely beyond the control OF the gov
eminent. lie asked for the renewal OF the actual
duty on tea and moved that the Committee Of the
Whole report to the House this sub ect the 4th
OF May next
the motion was agreed TO.
The House then adjourned.
The Church Rates Abolition Bill.
In the House o: Lords the bill for the abolition OF
Cnurch rates, which passed the House OF Commons
before the Easter holidays, came up for consde-
ration.
Lord Derby, who was able to be present, spoke
against the bill.
The Archbishops OF Canterbury and YORK and the
Bishop OF London opposed the bill, but approved OF
its passage to a second reading.
The speakers all concurred In the opinion that the
present tendency OF politics was towards the dis
establishment OF the Church.
motion was made to refer the bill TO q select