For the coming year, Sir Stafford Northcote's -Estimates,— supposing taxation
to remain unchanged, and no " extraordinary" votes to be sanctioned,—were as follows :— ESTIMATED REVENUE FOR 1878-9. ESTIMATED EXPENDITURE FOR 1878-9.
Customs £19,750,000 Permanent Charge of Debt 428,000,000 Excise 27,500,000 Interest on Local Loans 425,000 Stamps 10,930,000 Land-tax and House Duty 2,600,000
Income-tax 5,620.000 Interest on Vote of Credit Charge of Suez Loan 200,000
Exchequer Bonds 94,000 Other Consolidated Fund Post Office 6,200,000 Charge. 1,760,000 Telegraph Service 1,315,000 Army 15,595,800 Crown Lands 410,000 Home Charges of Forces in Interest on Advances for India 1,080,000 Local Works and on Pur- Navy 11,053,901 chase Money of Suez Canal Civil Services 14,816,475 Shares 1,075,000
Customs and Inland Revenue 2,793,068
Miscellaneous 4,000,000 Post Office 3,313,215 Telegraph Service 1,114,972 Packet Service 773,243 Total 479,460,000
showing a deficit for that year also of £1,559,676. But even this is not the worst, for Sir Stafford Northcote, acting on a new principle, which was justly condemned by Mr. Gladstone, pro- posed what he called an" extraordinary expenditure," in addition to that allowed for in these Estimates, of about £1,000,000, which might even amount to £1,500,000, for the Army and Navy. Thus the deficiency of last year, with the " ordinary " deficiency of this year, £1,560,000, and a probable extra de- ficiency for special expenditure already sanctioned of between £1,000,000 and £1,500,000, amount in all to a deficiency of between £5,300,000 and £5,800,000.
Total £81,019,676
