The discussion chiefly went to show that the Chancellor of
the Exchequer had scarcely assigned sufficient importance to the growing causes of commercial depression, Mr. Childers insisting that the falling-off of revenue had been a rapidly increasing one, and Mr. Baxter and Mr. Mundella referring to the exhaustion of the savings of the working-class and the slight prospect of any rise in wages. To Mr. Baxter's charge that in spite of this falling-off the Government had greatly increased its expenditure (the ex- penditure of this year is estimated at about 1660,000 more than the actual expenditure of last year), Mr. Gorst replied that a considerable portion of this increase was really due to the opera- tion of the sinking-fund law for extinguishing Debt, which takes £380,000 more this year than last ; that the increased charge for loans amounts to £117,000 more ; that the increased charge for Post Office and Telegraphs (which will, of course, be covered by increased receipts) covers another £194,000. On the whole, whether the Budget be too sanguine or not, the criticisms on the extravagance of the estimates of expenditure certainly collapsed.
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