The New York herald., 1870-04-26
ENGLAND.
The Budget as Presented by tho Chancellor
Of the ExcheQuer.

The Budget a. Presented by tho ChanceIlor
Of the ExcheQuer.
In the House OF Commons on the 11th of April Mr..
Kennaway, introduced BY Mr.. Kekewich and Mr..
Scoureld took his seat for East Devon IN the room
OF Lord C0urtenay, resigned.
The House having been occupied for upwards OF
an hour with the consideration OF the Metropolitan
District Railway bill. and there being also con-
siderable number Of questions on the paper 1t was
quarter TO six when 1t resolved itself into Committee
OF Ways and Means, and the Chancellor OF the Ex-
chequer rose to open nls budget for the current
financial year.
Wltnoui word of preface, Mr.. Lowe at once
dashed into q comparative statement OF the esu'
mated and actual revenue and expenditure for the
year ending the S1st OF March. From TINS it ap-
peareu that the revenue originally estimated for
tnat period announced to f72, 200, raised to
2o5, 600 BY the alteration effected IN the coec
tion of the income, assessed land and house taxes;
ana that the estimated expenditure was f6S 223 900;
thus leaving surplus Of 97,9s2ooo. This was DIS
account OF the Abyssinian expedition to the extent
Of a4soooo9 and next in ,e efieCtlng. re; e;
e. s4O,o 900; after which there renamed net
surplus on the year OF f442,O00 The actual
excess over tn the estimate Of being the
largest ever raised In this country with the
exception OF the three last years Of the French war
right honorable gentleman said he estimated the
revenue at Ell. 100000, and the expenditure at
this sum ne proposed to add s16o, 600 BY imposing
license duty OF twenty shiiings per annum for car.
aoo1sshins & game oeitiicates the revenue on which
was bosh dlficut OF collection and easily
eluded. or course volunteers and Others
having otherwise right to carry arms would
be exempted from the operation Of this
tax. The estimated surplus would thus be augment
ed to "a 4S7, ,000 and that was the sum he mad to
deal with In appropra,ing 1t he proposed, frst to
convert the f7, 900 900 OF post ONCE savings banks
stocks into termInaDle annuitles expiring IN 1885,
which, at 81 los. per cent, would In the course Of
the current financial year throw an Increased charge
on the Consolidated Fund OF 100000. The annual
charge thereafter would be f5A 000 land IN the year
1885. whoever might then be Chancellor OF the Ex-
chequer would be In possession OF remission OF IN
come amounting to 60, 3789 900. Noticing the claims
OF various interests TO participate IN the surplus
still remaining Of "a, 900, the right honorable
gentleman stated that he had given his best
consideration 70 the application OF the brewers to be
relieved from their oense duty, but had been obliged
to leave the matter where It stands. In like manner
he had fully considered the suggestions made with
respect TO the malt tax; and mere he had arrived at
the conclusion thar without reuucing the revenue
derived from this source, ne might remedy proml.
nent grievance by allowing farmers to steep their
own barley and feed their Cattle WIN ~, sapJecs
providing that no kiln was kept on the premises
or existed within quarter Of mile. Coming next
to the taxes which ne proposed ,. 70 remit remit,
| ers license and the small license duties col
| tec,ed from the still makers, sellers OF playing
| cards, soap manufacturers, paper-maKers ana
watch-case makers; In all producing about f6,OO0
year. He further proposed to revise the stamps and
equalize the duties between foreign and inland blis
| OF exchange which would entail O loss upon the
revenue OF f20o,OO0 further loss OF Ely, 0oo .
year OF which, however, only ESQ, 900 would fall on
the present year, would accrue from the abolition OF
| the Impressed stamp on newspapers, measure
| which would come into effect In October next. II
| was also prop0sed to carry all newspapers or less
| than SIX ounces weight for hllfpenny and other
printed matter at the rate OF hafpenny for every
vove loss OF f250, 900. His next proposal was to
remit the five per cent duty railway passenger
ceipts and TO abolish the erenaptton Of third class