Savannah morning news. [volume] (Savannah) 1868-1887, 1885-05-01

Indian government. Mr.. Childers esti-
mated that the outlay for 1856, not in
Guiding the vote of credit, would be 9SS,-
$4,000. With the income tax at pence
IN the pound sterling, the total revenue
would be 9S5,1S0,000.
LOSS ON TELEGRAMs.
There would be a reduction of the
revenue of 100000 on six-pennv teIe-
grams. The deficit Childers estimated at
f3,732,000, and adding the vote of credit,
together with reasonable allowances for
the supplementary estimates. the total
deficit was estimated at G14.9 900.
Mr. Childers proposed various modifica-
tiOns of legacy and succession and pro-
bate duties. He also proposed the i'm
posing OF new taxes upon property
hitherto exempt and that the duty
on foreign stocks made
payable to bearer be raised to los. per
cent, that the duty on homemade and
foreign manufactured spirits be raised by
Is. per gallon, and the duty on beer Is.
per barrel The foregoing additional taxa
ton will produce G7,500,000, leaving a
deficit Of Ct, ,432, 600, which it is proposed
to meet by taking G4,600.000 of the ma
tional debt, leaving the balance to be met
by the operation of the sinking fund
Mr.. Childers concluded his exposition
of the budget by asking that the second
reading be fixed for May IA, so as to en-
able the House in the meantime to fully
study the proposals of the government.
CREATES A SENSATION.
The forecast of Mr.. Chiders of the de-
ficit in tne budget for the ensuing tinau-
cial year, which is estimated at G14,9
900 has created a sensation. 1t is the
largest deficit since the Crimean war.
Mr.. Childers said that it would require a
great demand upon the patriotism of the
people. Foreign patent medicines will be
charged the same duty as those manu-
featured in England, but stamps for
foreign medicines will be so
altered as to avoid any appearance of the
medicines being English. The govern
ment viii guarantee synopsis of the
budget. An increase Of the income tax to
8 pence will. it is estimated, yield Co.
100000, notifications of the probate lega-
cy duties and other property taxes f150.-
600, duties on spirits $4,000 and the
duty on beer 9750,0O0 The remainder of
the deficit will be met by suspending
payments towards the reduction of the
national debt and the stopping of the
sinking fund and terminable annuities.
The balance of the deficit, amounting to
92,Sl2, 600, will be dealt with next year.
THE BUDGET ACCEPTED.
LONDON, May 1, A. M.-The DdjlV
ttcQfOpB Says Judb the buuSGI - at
ceptable and is not likely to impair the
prospects OF the Liberal candidates in the
next general election.
The Irish and Scotch members of Par
lament intend to oppose the tax on
whisky.
The House of Commons this evening
agreed to the budget resolutions.
Although the amount of the deficit sur
prised Parliament the announcement was
received favorably by both sides. The
scheme for fresh taxation VIII mes5 with
no general opposition.
OTHER PRESS COMMENTS,
The Times this morning saws: ''The
budget is ingenious and in principle equi-
table, but can hardly be reckOned among
the courageous and logical achievements
of constructive genius in finance"
The Standard says: "The days of peace
and prosperity, when liberal chancellors
were embarrassed with surplusses, are
past. Mr.. Childers has met the difficult
ties with courage. The scheme, on the
whole, is a highly cOmmendable One."
The morning papers all comment favor
ably on the budget. The Times and Tele-
graph advocate an increase in the customs
duties on teas.