The Statesman's Year-Book, edited by Frederick Martin (Macmillan), has now
reached its fifteenth annual publication, and comes to us corrected up to the end of December, 1877. As regards the revenue and expenditure of the United Kingdom, the receipts in 1877 amounted to £2 7s. 6d per head of population, as against £2 7s. ld. in 1876; while the expenditure amounted to £2 7s. 2d. in 1877, as against £2 6s. 10d. in 1876. The balance in the Exchequer at the and of the year was £5,988,650, which, with, the exception of last year, is the smallest balance since 1869, when it was £4,707,259. The editor has, as usual, been careful and diligent in his accumulation of facts, and the value of the comparative tables is much enhanced by the addi- tion in the present issue of new ones giving the armour-clad navies, first-class battle-ships, ocean and coast cruisers and defenders, &c., of the principal States of Europe.
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