A Minister has spoken. Mr. Lowe, of course, said nothing
at the Cutlers' Feast, Sheffield, on the question which interests us all, the future policy of the Government, but he made a curiously characteristic defence of himself. He acknowledged that he had no financial genius, but thought he could stop the demands for expenditure, which had hitherto been the business of the Secretary to the Treasury. So he took his work out of his hands and did it with a will, and declares that while the Army has been increased, the expenditure has been decreased by £3,000,000 a year. He had spent £10,000,000 on the telegraphs, but had reduced debt £26,000,000 ; and had paid off the relies of the Abyssinian account and the whole of the Geneva award without increasing taxation a farthing. He claims, therefore, that his government of the Treasury has been wise,—that he has, in fact, been the first Chancellor of the Exchequer who has seriously reduced expenditure.
