The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-21
TELEGRAM TO THE NEW YORK HERALD.


The Right Honorable Mr.. Lowe, Chancellor OF the
Exchequer, submitted the Gladstone government
budget to the House Of Commons this evening, his
statement occupying the attention OF members until
late hour OF the night.
Although it was known that the Chancellor would
make the financial exhibit the Parliamentary at
tendance was not numerous.
After the Speaker had taken the chair Mr.. Lowe
addressed the House, prefacing the Introductory
TO the budget, and setting forth his figures facts
and Treasury projects. He referred TO the 1stu-
pendous events which had transpired in Europe
since the last financial statement was presented
events OF character and magnitude to set
at naugs; all estimates Of trade and
revenue. Nevertheless the resources OF the
United KingdoA had shown the greatest
elasticity. The revenue was two and a third
millions OF pounds sterling III excess OF the est
mates, and the expenditures fell half million
below the estimates. While the cost OF the army
was half million more tnan had been calculated,
thar OF the civil service nearly million less"
Mr. Lowe proceeded to give In detail the plans OF
the government for further economies. One OF the
most important was the placing OF the Chancery
funds in the hands OF the government for CONVEX
sion into stock.
The estimated expenses OF the army, including
those incurred by the abolition OF the purchase sys-
TEN, s1e.5oo,0OO, and for the navy CO. 75o, ooo
The estimates for the civil service show increase
OF s42 900 those OF last year consequence OF
educational measures.
The revenue from Customs for the ensuing nnan-
cia year estimated at less than that OF last year.
The total receipts from all sources, IL Is expected,
Will not exceed In round figures csc OOo ooo while
the total expenditures may reach f72 600, 900. The
deficiency is set down at e., 700, 900.
The Chancellor said that ''the fact that England
could not be invaded secured her credit and insured
ne
He defended the recent reductions In taxation
ON the ground that they were made when war
on dividends belonging to foreigners ABROAD, to
abolish other exemptions from taxation and to i'm
pose further duties on legacies and SUGGESTIONS pro-
pOrtioned To the amount thereof.
He next proposed what he termed a resort OF
American origin, VIA tax on lucller matches.
This proposition was rece we'd with great laughter
10y the House.
financial year were Cos. ILL 6e3 as compared with
$685. SOS last year. The revenue was composed
OF the NEUTRALITY-SUSPICIOUS., f1s,2l4.Ooo; Ex-
clse. fla.o 900; Stamps, fs.os1, o0O taxes
81 1884,, 600; Income tax, s5,2s7,ooo; Post Office,
lands, 1855, coo: miscellaneous CO $40 500 The pay
ments amount to f64. so54s1.
The Board OF Trade returns for twelve months,
ended 3lst December last year. are set forth:-The
total declared value Of the exports for the month
December 1870 was f17,l7s05s. against ELS 5e4 975
months ended December q the figures stand at
Gl99,o40,9S3, against f1s9,o35,s57 in 1869, and
Ll1S,uI1,SlZ IN ISbS. During the twelve months
The PRINCIPAL increase was in Goals and culm, cot
ton manufactures, earthenware and porcelain
haberdashery, machinery, unwrought iron
and steel, silk manufactures and woollen
and worsted manufactures. In the foreign
trade the shipping tonnage employed was
l4sIl,e75. against l4,4s5e45 in the corresponding
period OF 1869 and 1881 81 in 1868 for the entries
inward for the clearaDces outward there were
167ls,d65 tons against l5,9l9,ss7 tons In 1862 aud
154149e2 tons In 1868. In the coasting trade during
the same period the figures snow that the tonnage
employed was 1885, 626, against 1901 $50 in 1862
and II, 70l, 900 IN 1885,
The Relations Between Spain and Mexico.
LONDON, April 20, 1871.
In the House OF Commons tonight viscount En-
held, Under Foreign Secretary, In reply TO an In
curry, stated that the government had not been ap
prsed Of the renewal Of relations between Spain
aud Mexico.
The Bank Of England Weekly Rcturn-Moye-
meut Of Specie.
LONDON, April 20, 1871.
The weekly return OF the Bank OF England shows
an increase Of specie OF f24e 900 since last report