7 MAY 1864, Page 2

Sir Charles Trevelyan has produced his budget, and it is

unexpectedly satisfactory. There is a small surplus of 30,000/., and he has reduced the ad valorem duties on cotton goods from 10 to 7i per cent. There is, however, to be a re-valuation of twist and yarn, which -will double the ancient duty, the official valuation being based on the old, not the existing prices. This change may cause some annoyance, but more details are required.