On Tuesday, Sir John Gorst introduced the Indian Budget in
an almost empty House,—a curious commentary on the interest which the New Radicals pretend to take in the inhabitants of our Asian possessions. The Under-Secretary dealt with the three years ending March 31st, 1888, 1889, and 1890. In the first of these years, there was a nominal deficit of Rx. 2,028,832 (Rx. stands for 10 rupees, and so for not quite 14s. at the present rate of exchange), though actually only about half that amount was deficient, the remainder being accounted for by the carrying out of the conversion of 4 into 3i per cent. stock. For 1889, the deficit was placed at Rx. 1,500,000; but again things turned out better than was expected, and the latest returns show that, instead of a deficit, there is a tiny surplus amounting to Rx. 10,300. In regard to the year ending March 31st, 1890, the Indian Government expect a surplus of Rx. 693,300. On the whole, these figures are satisfactory, though there is no reason to think that the falling- off of the opium revenue or the wasting of the value of the rupee have finally ceased. These still remain the dangers
of Indian finance. The most cheerful point is the smallness of the debt, which, if the money spent on remunerative works is deducted, only amounts to a year's revenue. Again, it is reassuring to find that though the price of salt has not risen in India, the Government manage to collect from it a con- siderable increase of revenue.
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