BRITISH AND FOREIGN.

South Canterbury Times, Issue 2511, 7 April 1881, Page 2

BRITISH AND FOREIGN.

[Reuter’s Agency.j

The British Budget.

London, April 4.

In the House of Commons this evening the Eight Hon. W. E. Gladstone, Chancellor of the Exchequer, made his budget statement in Committee of Ways and Means. He showed that the revenue for the past financial year amounted to £81,062,500 and the expenditure to £83,125,000. He estimates the revenue for financial year just entered upon at £86,000,000. and the expenditure at £88,687,500. He announced that the financial proposals of Government included a reduction of duty on foreign beers ; the conversion of the national debt, resulting in the reduction of the same by £6,000,000 in twenty-five years ; the gradual abolition of plate duty ; the adjustment of surtax on foreign spirits, and the adjustment of legacy and probate duties. The result of these changes would be to still leave a surplus of £300,000, but the reduction of one penny in the income tax from sixpence to fivepence in the pound would be proposed, and the surplus wonlrl thus be converted into a deficit f £275,000. A Rupture with Prance. Intelligence has been received that

conflicts have occurred on the Tunisan frontier over the disputed right of an’ English subject, Mr Joseph Levy, to an estate at Enfidd. The matter has already caused diplomatic difficulty between the English and French Governments, and it is feared that fresh complications may arise. Telegrams to-day from France announce that active military preparations are being made by the Government of that country, and the French Press discuss the difficulty in excited terms. The Earl on the Rise. April 5. A bulletin issued to day states that Lord Beaconsfield is progressing favorably, and is less prostrate than he has been for some time. Greece on The Rise. _ Athens, April 5, A number of Regiments of the Greek army, mobilised for service in the evenj of war breaking out with Turkey, were reviewed to day by the King. Consols on The RiseLondon, April G. Consols have advanced to 100 f. New Zealand, securities are firm at last quotations. The markets for Adelaide and New Zealand breadstuffs, and for Australian tallow, are without quotable change.