The estimates of expenditure and revenue will, then, if Mr.

Gladstone's proposed changes are adopted, stand as follows :—

EXPENDITURE.

Interest and Repay-

REVENUE.

Customs, diminished as £ ment of Debt 26,642,000 proposed 20,928,000' Consolidated Fund

Excise 19,750,000 charges 1,880,000 Stamps 9,450,000 Army 14,095,000 Assessed Taxes, dimi-;

Navy 10,400,000 nished as proposed... 3,315,000 Collection of Revenue 5,003,000 Income Tax 5,700,000 Packet Service 821,000 Crown Lands 325,000 Miscellaue..,as Esti-

Post Office 4,450,000 mates 7,886,000 Miscellaneous & China

Indemnity 3,100,000 £66,727,000 Total

£67,018,000

Expenditure 66,727,000

Surplus £286,000