The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-05-01
The English Budget.

LONDON, April 30.-Mr. Childers, in
his remarks on the budget in the House
of Commons, said that the expendi-
ture of the past year was e., 800, 900 over
the estimate. The revenues from GUS
toms and excise showed continual
falling off on spirits, a slight falling
off in the receipts from the duty on
VINE and continual, but slow, rise in
other chief duties. The revenues from
tea and tobacco duties showed steady
progress, indicating a satisfactory pro-
gress of the people. (The opposition
bench received this statement with
much laughter.) The income tax pro-
duced $4,000 900. exceeding the esti-
mate by 9750,000. The total re-
$4,000 and the total rev
enue fSS,O43, 600, and the total
expenditures were 9S9,092, 900. The
present government had paid all the
war charges bequeathed it by the late
government, including f5,000,000 given
to the Indian government. Mr.. Childers
estimated that the outlay for 1885,
not including the vote of credit. would
be f8S, S72 600. With the income tax at
pence in the pound sterling, the total
revenue would be f85, 180, 600, There
would be a reduction of revenue of f40,-
600 on 6-penny kilograms. The deficit,
Childers estimated at 93, $4,000; and,
adding the vote of credit together with
reasonable allowances for supplement
tary estimates, the total deficit was esti
mated at ETA ,932 900. Childers proposed
various notifications of legacy and
succession and probable duties. He
also proposed the imposing of
new taxes upon property hitherto ex-
empt, and that the duty on foreign
raised to 10 shillings per cent !; that the
duty on homemade and foreign manu-
featured spirits be raised 2 shillings a
gallon and the duty on beer shilling a
barrel. The foregoing additional taxa
ton will produce Ell, 100000 leaving a
deficit of f7 ,432, 00O which tits proposed
to get by taking "a, 100000 of the sum
annually devoted to the reduction of
the national debt. leaving a balance to
be met by the operation of the sinking
fund. Mr.. Childers continued his ex
position of the budget by asking that
the second reading be fixed fer the four
tenth day of May, so as to enable the
House TO gain time to fully study
theproposals of the government.
The forecast of Childers, of the defcitin
the budget for the ensuing financial
year, which is estimated at f14 1872 600,
has created a sensation. 1t is the largest
deficit since the Ciimean war. Childers
said it would require great demand
upon the patriotism of the people.
Foreign patent medicines will be charged
the same duty as those manufactured
in England, but the stamps for foreign
medicines will be SO altered as to avoid
any appearance of the medicines being
English. The government will guaran-
tee synopsis of the budget. The increase
of the income tax to pence will, it is
estimated. yield 100000; the modifi-
cations of the probate and legacy duties
and other property taxes, f150.000; the
duties ON spirits, feoO 900, and the duty
on beer, ESQ, 900. The remainder of the
deficit will be met by suspending pay
ments towards the reduction of the
national debt and the stopping of the
| sinking fund and terminable annuities.
The balance of the deficit, amounting to
f2, 812 900, will be dealt with next year.