20 APRIL 1889, Page 1

In estimating for the current year, Mr. Goschen explained that

the provision for the Naval Defence Fund would increase

the Consolidated Fund charges by 21,413,000, so that the

Total Non-tax Revenue 215 110,000 Total Revenue £85 059,0( 0

Of course, the great apparent falling-off in the Excise revenue is due to the transfer of 23,030,000 worth of licences to the Local revenue of the counties and towns. This account shows a deficit of 21,917,000, or nearly 22,000,000, for which Mr. Goschen proposes to provide, first, by taking 21,000,000 from the sum saved on the redemption of the Debt ; next, by putting a new tax of 1 per cent, on all estates of more than 210,000 left by will, personalty and realty to pay precisely the same ; and, lastly, by slightly increasing the tax on beer, so as to make it what Mr. Gladstone at first proposed in 1880. The new Death-duty he calculates to yield 2800,000, and the extra Beer-duty £300,000; and these three sums would give him in all 22,100,000. Deducting from this the calculated deficit of 21,917,000, there remains a surplus of 2183,000. Mr. Goschen explained that he intended to introduce a separate measure for the restoration of the gold coinage, and that he hoped to effect this not out of new taxation, but out of a sum to be gained by securing a larger profit for the State from paper money. It is supposed that this means that he thinks of issuing ten-shilling notes, and of keeping a reserve of silver against the issue, the profit of the issue to pay for the expense of calling in the worn gold and renewing it. But this is, of course, mere conjecture, as Mr. Goschen did not explain his plans. Estimates would stand :— ESTIMATES OF EXPENI.ITESE (1839-00). COnsotidat od Fund Charge.. £29 274.01:0

Army 17.3 '6 000 Navy 13,685 WO Civ 1 Serviee 15,739 000 CIIStoUts 923.009 Inlan4 Revenue 1,757.00) Post Office 5,453,010 Telegraphs 2,13 I,000 Packet Service 664,000





Exei-e 23,5/0,010 Stamps


Land-tax 1,03%10) Hon,c-duty

I .92.

Property and Income-tax 12,550,000 Total Tax Revenue L69,910,000 Post Office £9,350,000 Telegraphs 2,23o.000 Oros n Lands 430.000 Interest on Advances 2.10 0.0 idiecellaneons 2,850,000