POSTSCRIPT.

SATURDAY.

There was a full attendance of Members in the House of Commons last night, eager to hear the financial statement which the Chancellor of the Exchequer, early in the week, promised to deliver on that evening.

After some preliminary business, the House went into Committee of Supply ; Mr. Fitzroy in the chair.

The CHANCELLOR of the EXCHEQUIIR proceeded to make his statement. He first showed that last night was the earliest on which the statement could have been made. The Estimates for the Army and Navy had only been presented since Monday, and even then no vote had been taken in Committee of Supply. Having settled this point, and having contrasted his position this year with his position last year, he came to figures. The revenue of the current year, ending on the 5th April, he had taken at 71,740,000/. : the actual amount will probably be 71,885,000/. The Customs have produced 23,600,0001., instead of 23,850,0001., his estimate ; and this arose from the short stock of sugar and the check to the consumption of tea. The expenditure was estimated at 82,113,000/., leaving a deficiency of 10,373,000/., including a margin of 2,000,000/. To meet this deficiency he borrowed 7,499,000/. Power was taken to borrow 4,000,000/. on Exchequer Bills; but this had been used only to the extent of 1,000,000/. The total receipts will be 79,384,0001.; the total expenditure probably 78,000,000/., leaving a balance of 1,384,000/.

In answer to Mr. Disraeli's accusation that there was extraordinary war

taxation in time of peace, he pointed out that the year was not a year of ordinary peace expenditure. There had been lent 1,000,000/. to Sardinia ; 91,000/. paid on account of hereditary pensions under an act of last session ; there will be a loss of upwards of 2,000,000/. on the article of malt by the reduction of duty and drawbacks : it is therefore incorrect to say that no reduction has taken place in war taxation. In order to show that the pressure of taxation has not diminished the resources of the country, he cited the figures showing the flourishing state of the, export and import trade, the large employment of shipping, and the diminution in the number of emigrants. Deducting the three years of peace expenditure just before the war-152,323,000k, from the three years of war expenditure-228,721,000/., he said the remainder-76,398,000/.—affords a pretty close approximation to the cost of the war. Of this sum, he set down 40,362,0001. as the war taxation.

The total expenditure for the year 1857-'58, he estimated at 63,224,000!.:

that is, interest on Funded and Unfunded Debt, 28,550,0001.; permanent charge on the Consolidated Fund, 1,707,000?.' Army, 11,625,0001., Navy, 8,109,000k ; Packet Service 965,000!.; Civil Services, 7,250,0001.; Collection of Revenue, 4,218,0001.. Superannuation of Revenue department, 475,000?.; Persian NVar, 265,0001. Beyond this, there are debts to be provided for amounting in all to 2,000,000?.; which makes a total estimated outlay of 65,474,0001. Sir George went into a detailed explanation of these items, to show that they are not excessive even as compared with the estimates of peace years ; and in accounting for the increase, he pointed out a variety of causes,—such as the Packet service, the transfer of the Coast Guard from the Customs to the Admiralty, the increased charges arising from the use of steam in the Navy.

Before he came to the taxation for the ensuing financial year, he made

some remarks on the compact said to have been entered into in 1853 between Parliament and the country with regard to the continuance of the financial arrangements of that year. Now, to admit the doctrine of compact, it should be shown that the state of things on which the compact was made remains unchanged. But the plan of 1853 was formed on the assumption of peace. That did not turn out to be correct—war, a disturbing cause of the first magnitude, succeeded, and not only increased the annual charge for the Debt, but left war-loan sinking-funds to provide for, and 2,000,000/. of Exchequer Bonds, payable this year. And on the other side of the account, we have had a loss of 150,000/. by the alteration of Stamp-duty on bills of exchange in 1853, a decrease of 290,0001. in Assessed Taxes, 260,0001. 17 the abolition of the Newspaper Stamp-duty, and 60,0001, on the Carriage-duty; total remission of taxation since 1853, 760,000/. After this, the Howie growing impatient, Sir George made a statement to show that the direct is only one-half of the amount of the indirect taxation ef the country; and then, touching on the Paper and Wine and Spirit du

ties, and the duty on Fire-insurances, he intimated that no change will be made in them at present.

At length he came to the Income-tax. As the law now stands, the Exchequer is entitled to receive 16d. for the ensuing year and 5d. for the two following years; in all 26d., or 26,000,000k "The proposal which I have to make, looking at the increased charges on the revenue for the year to come, owing to the debts contracted during the war, and owing in part to the remission of taxation during the same period, is to fix the Incometax as it was fixed originally by Sir Robert Peel and the two succeeding periods, for the next three years, at 7d. in the pound." (Cheers, followed by a general thinning of the House, which occasioned considerable laughter.) The effect would be, that the Exchequer would receive twenty-one instead of twenty-six millions. With regard to Tea and Sugar, he proposes a gradual diminution of the duties on tea from La. 9d. to le. 7d. next year, Is. 3d. in 1859, and Is. in 1860; on refined sugar, from 20s. to 18.s. 4d. in 18,58, 168. 8.1. in 1859, and 13s. 4d. in 1860; brown sugar, from 13s. 9d. to 12s. 8d. in 1858,11s. 8d. in 1859, and 10s. 7d. in 1860. "It now remains for mc to state the estimated revenue for the ensuing year. I take the Customs at 22,850,000/., the Excise at 17,000,0001., the Stamps at 7,450,0001., the Land and Assessed Taxes at 3,150,0001., and the laconic-tax at 11,450,000/. The Post-office I take at 3,000,000/., the Crown Lands at 365,000/., and the Miscellaneous sources at 1,200,0001. ; making altogether a total income of 66,365,000/. ; and the expenditure being estimated at 65,474,0001., there will be a probable surplus of income over expenditure in the year of 391,000/."

On a vote of 2,000,000/. for Exchequer Bonds being proposed, there arose a rambling discussion in a thin House ; during which Mr. GLADSTONE seemed inclined to question the accuracy of the Chancellor's statements with regard to his losses on malt, assessed taxes, and bills of exchange. A great many Members touched on isolated points ; and ultimately the Chairman reported progress.

On the motion for going into Committee of Supply, Mr. LAYARD raised a small debate on the conduct of the Government in reference to the Persian war. He had given notice of motion ; and although assured that negotiations were going on, he persisted, because "it is unprecedented that a war should be entered into while Parliament is sitting, and negotiations opened for peace when Parliament is again sitting, without Parliament being called upon to pronounce any opinion upon the subject." Would Lord Palmerston say, yes or no, whether discussion would endanger the prospect of peace ?

Lord PALMERSTON said, negotiations had been opened in a promising manner ; and any debate, founded on imperfect information, on points under negotiation, must be injurious. Mr. BAILLIE asked whether Lord Palmerston would lay on the table the ultimatum sent to the Persian Government previous to the war. Lord PALMERSTON said he could not, as the result might be injurious, if not fatal to the negotiations. Mr. Ronnecx said, "the boasted supervision of the House is a farce" : the House dares not say anything, because at one moment the Minister says it is too early to inquire, at another too late. Lord JOHN RUSSELL thought the circumstances are peculiar and unusual, and he could well imagine the Government justified in withholding the papers. Mr. GLADSTONE pointed out, that the House was also in a peculiar position—the Government had declared war on their own responsibility, without the sanction of Parliament. But he confessed that he must see the papers before expressing an opinion. Mr. DISRAELI said, he was rather jealous of negotiations going on after the commencement of war : it might be so contrived, that by some agent of the respective Governments, what might be called negotiations might be perpetually going on during the whole war, and the Governments might avail themselves of that plea to decline giving information.

In the House of Lords, the Earl of DERBY gave notice' that as soon as the papers are laid on the table of the House relating to the recent hostilities at Canton, he should call the attention of their Lordships to the subject, and bring forward a specific motion in reference to it ; but until the papers are produced, he could not state the precise terms in which his motion would be framed.

Lord BROUGHAM, in an impressive speech, called attention to the state of the law with regard to the property of married women, and moved resolutions, affirming that the law urgently requires amendment ; that a wife ought to have entire control over the whole of her property, or, if should be found impracticable, then that the law should make a settlement for her, as it makes a will for a person who dies intestate. He should introduce a bill, carefully prepared by a learned and worthy colleague of his in the Law Amendment Society, carrying into effect the first and most effectual remedy. In the course of his speech, Lord Brougham expressed his great, his hardly to be expressed gratification, that the House of Commons had unanimously agreed to a resolution in favour of establishing a Department of Public Justice. Lord Brougham having stated that he was just going abroad for some weeks, Earl GRANVILLE deeply regretted the want of his assistance in the consideration of those most important law-reforms to which their attention would be drawn.— Debate adjourned for six weeks.

Two Committees were nominated last night in the House of Commons.

Committee on the Hudson's Bay Company's Charter and Territories—Mr. Labouchere, Sir John Pekington, Lord John Russell, Mr. Gladstone, Lord Stanley, Mr. Roebuck, Mr. Edward Ellice, Mr. Adderley, Mr. Lowe, Viscount Bandon, Mr. Grogan, Mr. Kinnaird, Mr. Gregson, Mr. Blackburn, Mr. Charles Fitswilliam, Mr. Gordon, Mr. Gurney, Mr. Percy Herbert, and Mr. Bell.

Committee on the Second _Report of the Statute Law Commission—Mr. Baines Sir J. Graham, Mr. Walpole, the Attorney-General, Sir F. Thes4er, Mr. Dunlop, Mr. Henley, Mr. Hughes, Sir W. Heatheete, Sir F. Kelly, Lord Stanley, Mr. Locke King, Mr. Napier, Mr. Evelyn Denison, and Mr. W. Ewart.

A movement has been made within the Record Office to establish a new and most valuable department. The plan originates with the Master of the Rolls, and its object is to make the muniments of the kingdom available for historical and literary purposes. To that end, a special department will be created, under the immediate superintendence of the Master of the Rolls, charged with the publication of the most authentic and important chronicles of the nation. The Treasury is willing to furMil ample funds for the purpose; and if the plan be carried out in the spirit of the design, there is no doubt that it will fully justify the liberality—will show work done for the money. "The master's eye maketh the horse fat " : this is an early and an agreeable fruit of the more active attention which has recently been paid by Sir John Romilly to the bind nese of the Reeord Office. The arrangement that the department will be under his immediate control is of the utmost importance. There is no public department in which jealousies and obstructiveness do not impede improvement, the obstructives often professing to speak in the name of the improvement they prevent. The recent history of Law Reform, Military Organization, and Public Works, shows how essential it is that improvements should be intrusted to the care of their authors or of their real friends, unembarrassed by the jealous " assistance " of routine ; and in no department does this rule apply with more force than in the Record Office. The progress of the new plan will be watched with interest, in order that the public may not be deprived of Sir John Romilly's gift by the contrivances of any nurses that may be called in at the birth.

The usual telegraphic summary of the contents of the overland mail arrived from Trieste last night. The latest dates are—]lushire, 30th December; Bombay, 16th January; Madras, lath January.

"It is said that the Persians were contemplating an attack on the British troops encamped near the city. General Outram and his Staff sailed from Bombay on the 16th ofIanuary. Government was preparing for the immediate despatch of reinforcements, to form a second division for service in Persia. Several interviews had taken place between Dost Mahomed and Sir John Lawrence, but the nature of the communications had not transpired.

"Dates from Hongkong to the 30th December state that all the foreign buildings at Canton had been burnt and pillaged. Admiral Seymour had been throwing hot shot into Canton, but at the latest date had ceased hostilities, and was strengthening his position. Troops were about to be sent from India. The lorcha Alma had been taken by the Chinese, who were said to have mutilated the master. The steamer Thistle, towing the loreha Anonyma, was attacked by 200 junks, and obliged to abandon the lorcha with her cargo. The bad feeling against the British was spreading to the other ports. It was rumoured that the Emperor was desirous of peace, but that the Cantonese were uncontrollable."

The Moniteur states that on Monday the 16th the Emperor will open the session of the Legislative Chambers in person, in the Salle des Marechaux at the Palace of the Tuileries.

As M. de liforny's mission at St. Petersburg is likely to be prolonged, M. Schneider will act as President of the Legislative Body.