The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-05-26
Great Britain's Income and Expendi-
ture.

Great Britaiu's Income and Erpendi-
ture.
Few European matters invite more care
full attention, under existing circumstances.
than the budget lately submitted by the
Chancellor of the Exchequer for the year
ending March 81, 1879. 1t is well nigh a
quarter of century since the world in gen
eral was so deeply interested in the exhibit
Of England's outlay and resources.
Sir STAFFORD NoRTHCoTE came before the
House Of Commons, not only with balance
sheet which showed deficit for the year
which had just closed but with an antici-
pated deficit in the fiscal project for the next
twclvemonth. notwithstanding larger bur-
dens are laid upon the taxpayers 1t would
seem, however, that no blame attaches, in
this instance. TO the foresight or manage
ment OF the Minister. In spite of n most
untoward year, from an Industrial and COM
mercial point Of view, his original computa-
tions were so well taken that almost all
branches Of revenue did, in fact, furnish an
excess, and the budget Of 1877 rs would have
been liquidated on the LIST of April, with
surplus Of $4,000. 600, but for the supplement-
AIRY credit called for some weeks before by the
hldIHlluS SlNte ol Europe. vi the sum Noteu
In February for extraordinary expenses,
rather more than hall or nearly 100000,
had been used prior to April l, which amount.
besides exhaustng the surplus named, re-
quircd an emission Of ExcheQuer bills for
some sl4,OOO,OO0. Promising, then, that the
current financial year begins with n tempo
rary debt Of that extent, let us glance at
some Of the main sources Of income and cx-
pendture. rs we'll as the changes entaicd
upon taxation by the present attitude of the
Foreign Office.
The total contemplated outlay for inter-
rst on the public debt, including the Ex-
chcquer bills just mentioned and all other
floating indebtedness, is in round numbers
sl5l00J,0n0. To the army Is assigned
s7-00.G0o, and about five and half millions
more are set down rs the contribution Of
the home Government to the maintenance Of
the forces in India. If We add the sum al
lottcd to the navy $4,000, OO0-wc have a
totol expenditure for combatant and de-
fcn-ivc purpose. Of nearly Slil, 800. aud
these figures, we need not say. would be
greatly swollen by the outbreak of HOSTILE
tics. On the other hand it is n most credit
allie fact that the whole cost Of collecting
customs, together with all the forms Of in
come which are classcd IN the United States
Indcr the hend of Internal revenue, does
not reach eli.Olp,00O in the United Kingdom,
while the disbursements for the postal and
telegraph services combined fall short OF
s22,OooOoO About $4,000, 0O0 are paid by way
ol subsidy To- steamship lines, and finally
gross sum Of s7i,oOO,OO0 is ass signed to the
several departments Of the civil service in
...ls. u
declared 10 be necessary for the machinery
Of government in the British empire under
conditions of peace is thus seen to be about
slO5 O00o00, which represents an excess of
more than Sl0,Oo0,O00 over last years eXpen-
diturc We may point out that notwith-
standing the augmented burden OF taxation
No provision 10 made for the reimbursement
of the EXchcqucr bills lately emitted, nor
for the payment of the extraordinary ex-
pcnses entered into since April under the
supplemental credit nor for the unusual
Disbursements soon to be entailed by the
calling out Of the reserves and by other mil
itary measures taken or projected. But
before glancing at the probable scope Of the
outlay for such objects let us look at the
credit side Of the account that statement
Of british ways and means whose vast ag-
grrgat" is less astonishing than are the
elastic and seemingly exhaustless resources
Of It's chief factors.
Bearing in mind. for instance, that Great
Britain Is the apostle OF free trade, and that
only minimum OF duty is imposed upon
The great staples OF import the returns
from customs me remarkable both for their
actual total about 500, 900, OOO-and because
they are obviously susceptible OF very great
expansion in case Of need without curtail-
mcnt ~ consumption So too the proceeds OF
the excise which already exceed Sl37, OOO. 900
are very far from reaching the point al
ready attained in Russia by the impusts on
spirits, that, namely, whore increased exac-
ton operates to cut short the demand. The
revenue from stamps, also which already
yl'Ns more than SjiO00,00O, as well as the
liz me tax and tax on real estate which to-
E"'h'r aggregate some il,0OoNOO, could
d"ih'le9s bc much augmented without i'm
I'tus on the British taxpayer II load
tgu ,ut to TINT borne by his ncighhor of
.lr". Tie amount derived from the
postal amt telegraph service. which, prob
Ia ~, rs not capable Of any considerable In
t'''-"' is computed for the current year at
e''' l''' and the revenue from all other
'"'''"' l"r th" most part unclastic, is set
' 10" '' some s-NulO,0lO. The sum total Of
'"'lit9 from every quarter contom.
"~"H ny the budget for 1878 70 lie, in round