4 MAY 1895, Page 1

The Budget opened on Thursday by Sir William Harcourt was

financially a tame one, the only sensation being the con- cession made to the Nationalists in the shape of a remission of the extra Spirit-duty imposed last year, the extra Beer- duty put on at the same time being retained. We have dwelt elsewhere on this remarkable feature of the Budget, and will only note here that the announcement was received without enthusiasm by the bulk of the English Gladstonians, and in some quarters with thinly veiled dislike. The publics accounts for 1894-95, when balanced, show the following results :—

The Revenue (Exchequer Receipts)

Actual. Estimated,

amounted to ... £94,684,000 .£94,175,000 The Expenditure (Exchequer Issues) amounted to ... ••• 93,918,000 93,834,000 Therefore, the Revenue exceeded

the Expenditure by ...

£786,000 £291,000

This surd of £766,000 is the real surplus, and goes to the extinction of the Debt. It will be seen that the Estimates were, as Mr. Goschen said, marvellously exact. They reflect great credit on the permanent officials who made them.