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REVENUE AND EXPENDITURE. I

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REVENUE AND EXPENDITURE. I One of the notices of motion given on Tuesday night, was, by Sir Fitzroy Kelly; who, on Tuesday, the 28th inst., will bring forward a resolution to ',he following ef- feet Tli:it in any futuro review of the indirect taxa- ation of the country, this house should take into its con- sideration the duty ou malt, with a view to its early re- daction, and ultimate repeal. We wish the member for West Suffolk lUay carry his resolution. The tax on malt ii, niow that U protection" has been abolished, and so miny excise and customs duties repealed, a most unjust one. In his earlier days, the present Earlltussell de- clared, that if he were prime minister when protection Was removed, be would immediately move for the repeal of the malt tax." Mr. Cobden an(I Villiers,-wlien the contest for the abolition of the Corn Laws was going on, ileclared that the maintenance of that tax would be ncnmpatihle with free trade- Yet we have had pvotec- ion abolished, alill free trade established, for nearly 20 years, an I the oppressive impost still remains those who once denounced it so heartily, having repeatedly Toted for its continuance. But will Mr. Gladstone have a surplus and be able to propose a reduction of taxation ? We have thought not; and have commuuicated our opinion to our readers. That opinion was formed on the Treasury Returns of Receipts and Expenditure, published at the termination of every quarter; and which ouyht to be,-if not exactly correct as to a few pounds, -certainly not wrong aa to millions. Those accounts for the last year, shew an excess of ex- penditure over income of several millions. Every three months, deficiency bills had to he issue 1' and for the last 12 months, according to those returns, the deficiency has been very little, if nt all, less that. FIVE MILLIONS of pounds sterling, This being an undoubted fact, which anybody can verify by a reference to the published re- turns, we were surprised to find in the Gazette, of Tues- day evening, a notice setting fnrth, that the Lords Com- missioner,g of her Majesty's Treasury had certified t) the Commissioners for the reduction of the National Debt, "that the actual surplus revenue of the United Kingdom of Great Britain and Ireland, beyond the actual expen- diture thereof, for the year ended the 30th day of Sep- tember, IRC)4, amounted to the sum of £ 2,587,571 Is. lid No doubt this is the correct state of the income anil out-goings of the nation, as the Commissioners wiU apply one-fourth of that sum, ;Cti4(i,892 15s. M.,between Jitii. 6 and March 31, to the redudion of the national debt. This being the ca,e,-we wish to know of what possible use are the Quaiterly Treasury Accounts? The drawing up of those accounts, and the printing of them, en- tail, every year, a great expense on the country, and yet it turusout that they are practically worthless, an,1 not to be depended upon. Surely this is a matter which calls for, aud demands reform.

DENBIGH. I

I OPENING OF PARLIAMENT. I

THE OPENING OF PARLIAMENT.…

1JOLGELLEY.

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