London.

Manawatu Herald, 7 May 1895, Page 2

London.

The 'Budget has been delivered. In his 3peech, Sir William Harcourt said the vevenue last year amounted to £94,684,000, leaving a surplus of £776,000, which would be applied to the reduction of the National Debt.

The estimated revenue for nest year was £95,662,000, and the expenditure £95,981,000. The anticipated deficit would be met by the re-imposition of the- expiring beer duty, with the result that there would then be a surplus of £181,000.

The expiring spirit duty would not be re«imposed.

The death duties had produced £973,000, or. £82 below the estimate.

The income tax, continued the Chancellor of the Exchequer, yielded £15,600,000. The Home and foreign dairy produce, fruit and meat markets had increased—meat showing an .increase of 10 per cent. — during the past three years.

The wine ueveaue - showed a^de« crease last year of £66,000, : and the revenue from spirits a decrease Qf £63,000.

Sir VV. V. Harcourt resisted the suggested grants to agriculturists, and warned the House that the country would not , long-be able to afford the- present increased* -expepdittire. The 'limit of iofcfcsbte taxatiou had* nearly been reached. ,| ■*■■ In conclusion, he said that it waa perhaps the last occasion he would be in a position to utter a warning to the House; .'■. A report mentioned by the Timee, antt credited in well-informed circles, states ; that Lord Rosebery -retires '. from. the Premiership forthwith. The New Zealand loan is quoted from.4 to 4f per cent, premium. , The^Oape Government proposes to amrex Bechuanaland. „, lii ttieH^nie'Of OomhJQnß, Mr.S*. C. Buxton, Parliamentary Secretary for tb*:#>lQnial Officey stafed iha^, the GSverhm^nt-wduld adhere t^jthe determination to annex ;'" Umbegeai'/-' and that the Transvaal had no cause to complain, having failed to exercise ■ the right to construct a railway to tha coast which had now lapsed. Butter— Australian choicest is increasing .in demand. The e price quoted is 803; '■>•.-.' The New Zealand loan averaged £94 83 9d. Sir E. Grey, replying to a question in the £ouse of Commons, said the convention to settle the terms of the arbitration with regard to the seiztfre of the barque Costa Rica Packet and the imprisonment of Captain Car> penfcer would shortly be eigne'd. There is said to be strong friction in the Cabinet owing to the- Chan- j cellor of the Exchequer pressing.his Local Veto Bill, and this is believed to explain. Sitf W. V. Harcourt'i/im-r plied early retirement from office. The Daily News denies that Lord Bosebery retires from office.

Russia, Great Britain and Frapce will shortly present to the Porte a scheme for reforms in Armenia. The Porte has already approved a scheme enabling the Armenians to take part in the provincial administration.