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Leader (1850-1860), 24th May 1856, Edition 2 of 2, Page 1, VOX,. VII. No. 322.1 SATURDAY, MAY 24, 1...

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      __R _ £*T-V Ssip W*C A Political Am) Iit...

      __ r _ £ * t-V ssiP w * c A POLITICAL AM ) IITEEARY REVIEW .

      " The One Idea Which History Exhibits As...

      " The one Idea which History exhibits as evermore developing itself into greater distinctness 13 the Idea of Humanity—the noble endeavour to throw down all the barriers erected between men by prejudice and one-sided views ; and , by setting aside the distinctions of Religion , Country , and Colour , to treat the whole Human , race as one brotherhood , having one great object—the free development of our spiritual nature . " —Humboldtfs Cosmos .

      Contents:

      Contents :

      Review Of The Week- Vage Our Civilizatio...

      REVIEW OF THE WEEK- vage Our Civilization 490 OPEN COUNCIL- THEARTSImperial Parliament 482 ^ itu . . ry * £ ? „ . „ . . .. ,, , Exhibition of the Royal Academy ... 449 The Loan 484 Miscellaneous 490 The Bands in the Parks 495 The Operas 500 Trial Of William Palmer 485 Postscript 491 Mr . Benedict ' sConcert / ..... " .. ' . ..... 500 Metropolitan Protests against Puri- piibiip affairs LITERATURE- Madame Ristori 500 tailiSm 488 PUBLIC AFFAIK 5— Continental Notes 4 S 8 The Penalties of Indifference 492 Summary 496 America 489 Lord Palunerston ' s Dark Hints 493 Sir Robert Peel's Memoirs 496 The Gazette 500 Ireland 489 Bill Discounting in Parliament 493 Ruskin ' s Modern Painters 497 _« .......- „_ . « . . _ ,--.. > ., Naval and Military 489 The Carlton Party 494 r Xhe Productive Forces of Russia ... 498 COMMERCIAL AFFAIRSSanitary Reports 489 Pratt on Palmer 494 Ancient and Modem India 499 City Intelligence , Markets , & c 501

      Vox,. Vii. No. 322.1 Saturday, May 24, 1...

      VOX ,. VII . No . 322 . 1 SATURDAY , MAY 24 , 1856 . Pbxob { S 25 S £ ™ ? : ; JJSSS ? -

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      " ? W E Scarcely Remember A Year In Whic...

      " ? W E Scarcely remember a year in which the Budgetrlias passed off with less sensation . There are various reasons . In the first place , the public had pretty well made up its mind to the general character of the Budget ; nobody expected a remission of taxes , everybody expected that the Chancjeulor of the Exchequer would want more money and a further loan . Next , there is no question which particularly agitates men ' s

      minds at the present moment , although there is some anxiety to know what is to follow on the present equivocal arrangement of the peace . Men , therefore , are thinking much more of the statesmanship than of the pounds , shillings , and pence ; and the industrious classes , who might , perhaps , express decided opinions upon both sections of the subject , at present abstain , strangely if not ominously , from active part in political affairs .

      Sir Geohge Cobnewali . Lewis is praised for the clearness with which he has laid our position before us . It is not worse than we expected ; rather better . Peace was concluded on the 30 th of April ; but we had a great army in the Crimea , we had an immense fleet at sea , we have a vast labour to perform in transfei-ring our forces homo , and the expenditure for the current year will nearly oqual the expenditure of last year . It will be much less than the Government had originally calculated , for , if the war had

      continued , we should have had to face an increased expenditure . As it is , we shall have to pay nearly 77 , 500 , 000 / . How is this to be met ? By the continuance of the war taxes on tea , coffee , sugar , and malt , and by the help of a double in-C 0 me tax , the revenue will amount to 07 , 157 , 000 / ., which brings us so far towards the expenditure , but leaves 10 , 350 , 000 / . unprovided for . Sir Gkorgk Libwis has in hand a balance of the lust loan , 1 , 500 , 000 / ., and ho has just contracted a new loan

      on exceedingly favourable terms , , 1 , 000 , 000 / . 'Ihis reduces the deficiency by 0 , 500 , 000 / ., leaving however nearly 4 , 000 , 000 / . of deficiency . Sir CJhohuk Licwrfl is sure that ho shall want half of that sum , but ho-would set down the other half as a " margin" to cover unforeseen contingencies , and any amount that may be necessary will bo met by Exchequer bills . During the current financial year , therefore , tho borrowing will amount to ttearly 10 , 000 , 000 / . —just the amount of tho

      deficiency . Sir Gjeorge Lewis believes himself to have arrived at an accurate knowledge of the amount which the war will have cost us from first to last , and he reckons it at 77 , 600 , 000 / . We doubt much whether Sir , Georgk , or any other man , can really undertake to give so definite an account of the cost of the war ; but undoubtedly the public expected that it would need more money to fit out ^ a complete army and to place upon the waters so magnificent a fleet as that which has been lately reviewed . On the whole , therefore , the public is rather glad to get off so easily . The Chancellor or the Exchequer tells us that two-thirds of this sum will have been

      met by the end of the present year , and that the remaining third will be paid off within sixteen years by an annual instalment out of the Consolidated Fund 5 so that at the end of sixteen years , the debt on account of the present war will be absolutely extinguished . The Budget gave rise to little remark , and to almost none of a direct or official character . A

      few Words were said in favour of terminable annuities as a better mode of obtaining loans , and unquestionably it is a better mode . Something , also , might have been said in favour of an open loan instead of a loan by contract ; yet everyone felt that the business of the present session is to wind up a closing account and not to conclude the finance of war upon any new pattern .

      The eloquence of the Exchequer , in fact , is derivod from tlir » oirrMimstances of the day . Nothing has been set down in the JLJutlget which we arc not clearly and in right called upon to pay ; while we have so much outgoing of cash "to meet , wo are not inclined to make any experiments iu financial reforms ; and we get over the present difficulties so smoothly , that everybody is in good humour with the ostensible finance minister . Tho

      whole proceedings of tho new loan were a great encouragement and support . The City accepted the Downing-strect terms almost without question . Baron Lionki . « e Rothschild , who was left ia occupation of tho post of spokesman , came with deposits of 4 , 000 , 000 / . in his hands , ottering to take tho loan in Three per Cent . Consols at a price a little above 92 £ ; but us soon as Sir Gkougk Liowis offered at 93 , the offei- was accepted .

      Tho payment of the second instalment of the Sardinian Loan , which formed part of the year ' s expenditure , furnished the peg for what was in fact n distinct debate between two persons , Mr . Disrahm and Lord Pai . merston . Mr . Disuakli

      demanded some explanation , how it is that we are at once supporting Austria and Sardinia , entering into a tripartite treaty to share the government of Italy with Austria and France , and in alliance with Sardinia , which i $ endeavouring to oust Austria from Italy ? Mr . Disraeli ' s assertions , said Lord Palmerston , are not founded on fact , and they have no resemblance to truth . We are not supporting Sardinia in any aggressive policy in other states , and we have done nothing to guarantee the territories of Austria . He thus turned the easy laugh of the House at this insinuation that the right honourable gentleman had told a falsehood ; and yet the public understand the facts very nearly as Mr . Disraeli described them . However diplomatists may view . present situation , the fact is that our Government is supporting Austria , and it is at the same time supporting Sardinia—the Sardinian Government intending to bring together the different provinces of Italy , and to drive back " the Stranger" from exercising any military or other form of tyranny beyond his own frontiers . There is a report in Paris that the Austrian Government has so far fallen in with the tripartite arrangements , as to have proposed reforms for the acceptance of Rome , and the only difficulty , according to this account , consists in the fact , that the Cardinal Vialk Prkla hesitates to accept the condition * proposed by Austria . Now , since General CuENNEyiiJiU still holds Parma under martial law , it is highly improbable that any real reform of the Roman States can have been proposed from Vienna , and the very fact of the alliance between France , England , and Austria , under such circumstances , discredits any explanation of our equivocal position . Although it is muffled , there in a battle going on at this moment between Sardinia and Austria , and our Government is positively in both camps . It is not the first time that wo have witnessed that duality of position ; but it is the first timo , perhaps , that it has come so distinctly before tho public ; and although Lord Palmjobston got rid of Mr . Disraki . i for the moment , lu » -hj ^ jl -uo ^ t really satisfied tho question . / a /^ I / G ^^ aAA ^ ^ Another question has been attti ^ MM ^ Mtegyq ^ y ! TJ _ hour , but we have yet to leari ^|*| fflfflP ? S ^ jf (^| ; - "" - ' planation will be countersigned ^]!©** © S ^ 4 atj ^ L don has been asked in the IIou 8 *^ ]^^^^^^^ P y *' is that we are furnishing arms to P ^^^ W ^&^ S ^ § ££ in the contests of Central Ame PI * ^^^^^^^ E that wo were ready to assist a friendij ^ g fc ^ -Cw ^ JK *^

  • Citation
    • Leader (1850-1860), May 24, 1856, page 1, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/cld_24051856/page/1/