M. Minghetti, the Italian Minister of Finance, produced his budget
on the 16th inst., which created a strong sensation. He stated that the receipts of 1875 from all sources showed a decided increase, so that the account closed with a deficit of only£1,120,000, instead of £3,080,000 as expected, while far 1876 he expected a surpius of £400,000, and this in spite of considerably increased outlays. For 1877, again, he expected a surplus of £600,000, in spite of losses to be caused by the purchase of the railways, which this Ministry has strongly recommended. The statement will probably re-establish the Cabinet, which had begun to shake under Radical attacks and under the demands of the King, whose immense personal fortune is so mismanaged that it scarcely helps his expenditure, and who is always in debt, till his affairs discredit his Ministers.
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