There was a serious financial debate in the Commons on
Wed- nesday. Sir S. Northcote, said Mr. Dodson, has been quietly passing a good many supplementary estimates till he has added £417,000 to the proposed expenditure of the year, eaten up his surplus of £100,000, and incurred a nominal deficit of £317,000. In reply the Chancellor of the Exchequer says, as to his foresight, that his Estimates included a payment for the reduction of the National Debt, which it is not indispensable to make ; and as to the facts, that the Customs, Excise, and Stamps have increased in the first quarter till he is pretty sure of a million surplus. Mr. Gladstone was not contented with this answer, contending that to ask for money for the payment of Debt, and then treat it as a sort of Treasury Reserve to pull and haul upon, was wrong in principle ; that Sir S. Northcote's plan de- ceived the nation, and that there ought to have been a new tax. Mr. Gladstone is right as to the danger of supple- mentary estimates in time of peace, as they make the Budget mere guess-work, but he spoiled his case by abusing the House and the London Press for not restricting expenditure. He himself killed the spirit of economy in the House by subordinating to it objects which the nation cared much more about. When a Law- reform scheme is spoiled to save the expense of a Judge or two, wise economy is made to look like cheeseparing.
