LATEST ENGLISH NEWS.

New Zealand Spectator and Cook's Strait Guardian, Volume IX, Issue 840, 20 August 1853, Page 3

LATEST ENGLISH NEWS.

The Great Encampment near WiNDsott. — Immediate preparations are to be commenced for an encampment in this neighbourhood, and at nine o'clock on Monday morning a detachment of the Scots Fusil eer Guards, under the command of Captain the Hon. J. Jocelyn, marched from Windsor to Sunningdale, near Ascot Heath* in which neighbourhood they will be billeted. This detachment, with others from various regiments, will commence operations forthwith under the instructions of Lieutenant Colonel Vicars, RE. The encampment will be made on Chobbam Common, between Bagshot and Ascdt Heath. The regiments are" expected to arrive about the end of May, or the beginning of June. Ten thousand men were the force to be encamped.—Mirror. Ocean Penny Postage Bazaar in Manchester. — This bataar was opened on Tuesday, the 26th April, and closed on the following Friday ; and the result far surpassed the most sanguine expectations of all who contributed to th& demonstration. Its success was in fact complete and brilliant ; and proved the deep and general interest felt in the movement to lift from the heart-comraunings of the sea-divided families of the British empire, and other lands, that grievous tax and impediment imposed upon it by the present high rates of ocean postage. The " Ladies' Olive Leaf Societies," formed lot disseminating the idea 3 of peace and goad-will among the populations of Christendom, with the help of friends they won to the work, supplied the articles for the Bazaar. And these came up in boundless variety irom almost every part of the United Kingdom; the work of a thousand busy fingers, plied with delicate taste and skill. And the place for this display was most fitting, — the large room of the Manchester Exchange, perhaps the most important focus point of commercial intercourse in the world. The gross amount received exceeded £1000, whicb, # after all expenses are deducted, will supply the means of agitating the question of Ocean Penny Postage until the boon shall be fully realised to man-* kind. And the joy and gladness ..which it will bring to the hearts and homes of millions, will be a rich reward to those benevolent ladies whose gentle and social activities, taste, and, skill, stocked the Bazaar in Manchester. Emigration from Liverpool.-— 'During the past month more emigrants have left Liverpool th&.n in any proceeding month of the past few years. The Government returns show that in the month ending Saturday last, between 27,000 and 28,000 emigrants left Liverpool, tha greater proportion leing for the United States. The emigration to Australia has received a check, owing to the unfavorable accounts lately received. Notwithstanding this, upwards of thirty vessels have cleared for Australia within the last few weeks. The Banker's Daughter is in the river, with four hundred emigrants from- the Government Emigration Office, Birkenhead, and she will be followed in the course of the month by three large ships with passenger* from the same depot. — Times, 7ih of May. The Budget. — The following epitome of the Chancellor of the Exchequer's financial statement, which we extract from the City Article of the Times, gives a comprehensive glance of the entire scheme. The revenue of the present year is estimated at £52,990,000, viz :—: — Customs •. .. £20,680,000 Excise.. "••';• 14,640,000

Stamps •• «. 6,700,000 'Taxes.. .. 3,250,000 Income-tax* • •- •■ •• •• 5,550,000 Post Office*- .. •• .. .. 900,000 Crown Lands . . • • . . . . 390,000 Miscellaneous.. •• .. .. • 320,000 Old Stores: 460,000 Anticipated saving from tbe contemplated measures for tbe re- ' Auction of tbe Three per Cents.- • 100,000 £52,990,000 " The estimated expenditure is : — Funded Debt* • "27,500,000 Unfunded ditto.. . . 304,000 27,804,000 Consolidated Fund • • 2,503,000 Army 6,025,000 Navy 6,235,000 Ordnance.. .. •• 3,053,000 Miscellaneous.. .* 4,476,000 Commissariat** •• 557,000 Militia •• •■• »• 530,000 Kaffir War . . . . 200,000 Packet Service •• 800,000 52,183,000 Surplus. £807,000 This surplus of £807,000 (or in round numbers, £805,000) it is proposed to increase to £2,149,000 by new taxes which will yield £1,344,000 during the present year, and whose ultimate production is anticipated to be as follow. : : — * Extension of Income-tax to all incomes between £100 and £150 per annum, at tbe tate of sd. per pound •- £250,000 [The tax to remain at its present rate of 7d. per pound on incomes abore that amount nntil April, 1855 ; then to fall to 6d. till 1857 ; and then to be sd. till 1860, when it will expire.] Extension of Income-tax to Ireland • • •• •• •• •• 460,000 £710,000 From this is to be deducted the loss by exempting from tax all sums of income devoted to the purposes of life assurance, estimated at«« •• £120,000 Net increase of Income-tax • • 5.90,000 Extension of Legacy-duty to real property.. .-. 2,000,000 Increase of Is. per gallon in duty on Scotch spirits, namely, from 3s. Bd. to 4s. Bd. •• £318,000 Less allowance for waste on spirits in bond • • • • 40,000 278,000 Increase of Bd. per gallon on Irish spirits, viz.. from 2s. Bd. to 3s. 4d. £238, 000 Less allowance as above 40,000 198,000 476,000 Less allowance for waste in England 40,000 436,000 Increase from alteration in scale of licenses to brewers and dealers in tea, coffee, tobacco, and soap •• . . . . • * . . 1 13,000 £3,139,000 The total gain. from these new sources will, therefore, be £3,139,000. From this, however, must be deducted tbe interest upon £4,000,000, tbe amount of the debt due from Ireland in connexion with the establishment of the Poor-law system and tbe visitation of the famine, which it is proposed entirely to forego, and for which she has hitherto been liable to an annual charge of £245,000. On the other hand the intended reduction of taxation may be stated as follows :—: — EXCISB. Abolition of the soap-tax.. .. £1,126,000 stamps. . Redaction of tbe duty on life assurance from 2s. 6d. per cent, to 6d. per cent • • . . • • 29,000 Redaction of receipt stamps, from tbe present scale, ranging from 3d. to 10s., to a uniform rate of one penny.'. . . .. . 155,000 Heduction of duty on indentures of apprenticeship, from 20s. ' to *2s. 6d. Ditto, on attoi- - neys' certificates, from £12 - and £8 to £9 and £6, and on articles of apprenticeship, from £120 to £80 * 50,000 Reduction of advertisementduty, from Is. 6d. to 6d., and abolition of stamp duties upon .newspaper advertisement supplements • • 160,000 Reduction of duty on hackneycarriages, from Is. s d. to Is. per day • • • • • • • • 26,000 ASSESSED TAXES. Reduction of taxes on men-ser-vants to a aniform rate of £1 Is. on servants above eighteen years of age, and 10s. 6d. on servants under eighteen 87,000 Ditto on private carriages, to £3 10s., £2, and 15s. .. 95,000 Ditto on horses and ponies, to £1 Is. and 10s. 6d. £118,000 Less alteration of duty on dogs, from 14s. to Bs. to a uniform , rate of 12s 10,000 ' j , 108,000 Alteration^ in the post horse dv- . 1 ties, substituting licenses for - - t horses and carriages in lieu of < tax on mileage .. „ „ 54,000

Reduction of 17$ per cent, in charge for redemption of land tax — Not estimated • • • * POST OFFICE. Redaction of Colonial postage to a uniform fate of 6d. . . 40,000 CUSTOMS., Reduction of the Tea-duty from 2s. 2|d. to Is. 10d. till sth * April, 1854. The duty, to descend to Is. 6d. in the following year, to Is. 3d. the next year, and thereafter to Is. 3,000,000 Do. of duties on apples from 2s. to 3d. per bushel ; cheese from " 3s. to 2s. 6d. per cvrt. ; cocoa from 2d. to Id. her lb, ; nuts from 2s. to Is. per bushel ; eggs from lOd. to 4d. per 120 ; oranges and lemons to Bd. per bushel ; butter from 10s. to ss. per cwt. ; and raisins from 15s. 9d. to 10s. per cwt . . 262,000 Do. of duties on 138 minor articles of food .. .. .. 70,000 Abolition of duties on 123 d 0 . .. 53,000 £5,315,000

The total amount of relief thus to be afforded is, in round numbers, £5,300,000, but for th« present year it will be limited to £2,568,000 ; while the loss to the revenue, after allowing for increased consumption* will be £1,656,000. To meet that loss, the new taxes for the same period will produce £1,344,000, making, with the surplus already calculated of £805,000, an available aggregate of £2,149,000; and therefore, on the sth April, 1854, a favorable balance of £493,000 is still to be anticipated. In attaining this immediate result the prospects of the future have been rendered still more bright. In 1854 the balance between the taxes imposed and those taken off will give an additional £220,000 in favour of th: country; and, between that period and 1860, wheu the £6,140,000 of income tax is to be surrendered, the saving from the reduction of the Three-and-a-Quarter per Cents., and the lapse of the Long Annuities, and of a large amount of Terminable Annuities, will have been sufficient to render its reimposiiion unnecessary. Meanwhile, however, according to past experience, the, revenue will have entirely recovered itself, so that these savings, as they accrue, will, in fact, be applicable to new reductions.