THREE:On the 6th of May, 1836, the Chancellor of the Exchequer brought forward the Budget, which placed in a strong light the long standing anomaly of distress among the agricultural classes, contrasting with general prosperity in the commercial classes. He was enabled to exhibit a more favourable state of the finances than he had anticipated in his estimate the previous year. The total income of the nation was 46,980,000, its total expenditure 45,205,807, which would give a surplus of 1,774,193. Of this surplus all but 662,000 would be absorbed by the interest on the West Indian Loan, which had now become a permanent charge. There was an addition of 5,000 seamen to the navy, for which the sum of 434,000 was required. This addition seemed to be quite necessary from the feeble condition of the navy as compared with the navies of other nations. On the 4th of March Mr. Charles Wood had stated that the French would have twelve sail of the line at sea during summer; that in 1834 the Russians had five sail of the line cruising in the Black Sea, and eighteen besides frigates in the Baltic. During this period there never were in the English Channel ports more than two frigates and a sloop, with crews perhaps amounting to 1,000 men, disposable for sea at any one time, and that only for a day or two. Moreover all the line-of-battle ships Great Britain had afloat in every part of the world did not exceed ten. The land forces voted for the year were 81,319 men, not counting the Indian army. Of these one-half were required in the colonies. France had 360,000 regular soldiers, and three times that number of National Guards. With the surplus at his disposal the Chancellor of the Exchequer proposed to reduce the duty on first-class paper from fivepence to threepence-halfpennya suitable accompaniment to the reduction of the stamp on newspapers, already noticedand to abolish the duty on stained paper; to remit the South Sea duties, amounting to 10,000; to reduce the duties on insurances of farming-stock, on taxed carts, and on newspapers. He estimated the total amount of repeals for the present year at 351,000, which would be increased to 520,000 when they all came into operation. This was the best of Mr. Spring-Rice's indifferent Budgets.
