The revenue-accounts, published this week, are upon the whole much
less unsatisfactory than those which startled the country last quarter, though they cannot be considered as in any degree flourishing. There is a decrease both on the year and the quarter in all the first four great items of the account. In the Customs, on the year, there is a decrease of 1,076,336/. ; in the Excise, 1,059,0931.; Stamps, 146,7901.; Taxes, 146,0821. On the quarter there is a decrease, in the Customs, of 275,516/. The very small decrease in the Excise, after the frightful deficiency which the previous quarter exhibited, may be considered as a positive sign of improvement—it is only 1,7881. The decrease in the Stamps and Taxes is respectively 6,3611. and 8,0551. The Post-office still figures in the column of increase—on the year, 103,0001. ; on the quarter, 2,0001. But it is the Income-tax, and the more mysterious item " Miscellaneous," which bring up the arrears. The increase under the Miscellaneous head is 425,969/. on the year, and 218,363/. on the quarter ; including, no doubt, the recently- imported Chinese silver. The Income-tax brings an increase on the year of 2,456,2881., and on the quarter of 1,885,2321. The result is, that the nett increase on the year is 714,9831., and on the quarter 1,748,9451. The inferences to be drawn from the figures are sufficiently plain. The vast comparative decrease last quarter was attributed partly to a great apparent increase in the corresponding quarter of the previous year, in consequence of greater diligence in getting the money from the collectors : this quarter's account corroborates that statement ; and it shows at least that the ebb in the Excise has about reached low- water-mark : the condition of the people is now stationary : which it is some consolation to know, after the progressive deterio- ration of the last four or five years. The decrease in the Customs may be partly attributed to the operation of the new tariff; and if also partly to bad trade, there are positive signs that just at pre- sent trade is improving rather than otherwise. The Income-tax has done its expected duty—more, some say, because the income of the quarter would indicate a yearly amount much beyond that on which the Minister reckoned. It must be remembered, how- ever, not only that sums have been collected this quarter which were due in the last, but that payments for the succeeding quarter have been anticipated. Many persons have been paid the whole Income-tax on the year ending 5th April 1843, though half a year's tax was not actually due till the very day the accounts were pub- lished. Still, the tax has not done less than its duty ; and the table fully justifies the policy which imposed it. It is not to be believed that any enhancement of the taxes under the other heads could have forced an increase : the continually-augmenting defici- ency would have been yet worse, and in place of showing a sur- plus both on year and quarter, the national affairs would have been yet further involved. As to the mere matter of revenue, anxiety is relieved; but those four great items in the column of decrease are a sad memento of the condition of England.
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