The revenue returns for the past financial year are extra-
ordinary. The total sum paid into the Imperial Exchequer is £101,973,829, to which must be added the sum paid to the Local Taxation account, which is 27,366,117, making altogether the enormous sum of £109,339,946. The total of the Imperial revenue for 1895-96 exceeds by 27,290,067 the total of the Imperial revenue for 1894-95, while the total sum paid into the Local Taxation accounts for 1895-96 exceeds by 21352,575 the sum for 1894 95. Of the increase of the last financial year over its predecessor, less than half is due to Sir William Harcourt's Estate-duties. Under every other heading, with the one exception of the "Miscellaneous " heading, the increase has been large. The increase in stamps is more than a million and a half, in Customs and Excise the increase is more than half a million and more than three-quarters of a million respectively, in Property and Income-tax half a million, and eo forth. This great recovery of the revenue speaks volumes for our Free-trade system. If Mr. Chamberlain could but persuade our great Colonies to follow in our footsteps, we should indeed owe him a great debt of gratitude.
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