Year: 1869

the Montpensier candidature but that finding it inn
possible he has informed the Duke his position is
hopeless. One thing is certain Whatever men next
come into power they will have Hercu-
lean task TO save tho nation from bank
ruptcy. Senior Figuerola has presented his
budget, or rather onehalf of it, and the financial
prospect is not cheering. We don't understand the
Spanish practice Of asking the Chamber TO vote ways
and means without its being in possession Of COM
plete balance sheet. When the present Government
commenced business, it was laden with deficit Of
$l2oOOOOOO the legacy Of the former administration.
IL has decreased this deficit by two loans at high
rate OF interest The estimated income fer the pres
ent financial year, is set down at sO 500 proceed
ing from sources more or less problematical, and
therefore uncertain, that the Minister himself con-
fesses the fuctuation win be 100000 But where
is the budget of chargesi We have no information
on this head and one cannot help regrettng that so
able man as Seiior Fguerola, should have run his


financial machine in the groove, and should not have
established the precedent OF presenting complete
statement of receipts and expenditures so as TO let
the nation see what its financial position really is.
By the abolition of the imports on articles OF con-
sumption, and replaced by poll-tax, the
revenue has lost $1,5OOOOO. The customs have
produced less by $3,OO0OO0. The tobacco
monopoly figures for a floss OF SoOoOOO; {;
and although the Minister hopes for an augmenta-
tOn, the fact is he must deal with fallen revenue
and augmented charges. Financial reforms are
promised in the shape of the abolition of the import
salt and of the tobacco monopoly the former from
the 1st of January next and the latter from the 1st
of July of the same year. These sources of revenue
| now figure for the following sums respectively:
g. and $160O0000. Bad as these taxes are, it


is not easy to how they to be remitted unless
there be reduction of charges. Sefor Fguerola
nounces a diminuton of customs dues until all be
extinguished but, though thorough Free Trader,
he will have much difficulty carrying out any rad


cal plan in this direction because of the strong Pro-
lection tendencies of of the proyinces-Catao-
MIA to wit. He has been compelled to make q con-
cesson to this province to the extent Of FIVE per cent
upon certain imported goods, the duties upon which
he had reduced to 25 per cent. But fierce deputa-
| tation made strong demonstration here, and got
! Prim-hmsef q Catalan-to sustain their de-
mand to maintain the duty at 35 per cent.
SerranO sustained FiguerOa, and then ensued yio-
lent exchange Of opinions The affair was finally
settled by concession of five per cent. AS however
the value of the goods is fixed by the customs,
doubt these clever managers will contrivo to lose
nothing by the change


The debates on the Constitution have reached an
interesting point. On Monday the Goth clause, re-
lating to the religious question will be taken into
consideration, and. both parties well prepared
and eager for the fray the contest will be exciting
The news we get from Cuba refers to the instruction
as being virtually stiaed. But the Minister of Ma
rine has got bill for levy of for the Spanish


fleet and vessels to be dispatched TO the coast Of
Cuba AS rapidly as possible to guard it against
pedtiOns from the United States.