Blackwood's Edinburgh Magazine, Vol. 67, No. 415, May, 1850 — John Shaqi
Blackwood's Edinburgh Magazine, Vol. 67, No. 415, May, 1850Various
History
Blackwood's Edinburgh Magazine, Vol. 67, No. 415, May, 1850
Various
England -- Periodicals; Scotland -- Periodicals
Year ending Year ending
5th April 1849. 5th April 1850.
Ordinary revenue, £48,490,002 £48,643,042
China money, 84,284
Imprest and other monies, 665,293 656,855
Repayment of advances, 427,761 553,349
——————————— ———————————
£49,667,430 £49,853,246
49,853,246
———————————
Increase in 1849, £185,816
—_Times_, April 1850.
So that the increase in a year of extraordinary and unprecedented
prosperity, as we are told, over one of unexampled and overwhelming
suffering, is _only_ £185,000, for £128,000 of which we are indebted to
an excess in the repayment of advances in 1849 over 1848. We care not to
what this extraordinary fact is to be ascribed, whether reduction of
duties, the continuance of distress, or any other cause. We rest on the
fact that Free-trade finance and the cheapening system have brought the
revenue of the country, _in a year of what the Free-traders call its
highest prosperity, to a level with what it had been in a year of its
greatest adversity_. History cannot, and will not, overlook these facts.
The leaders of the Free-traders say they live for posthumous fame. Let
them not be afraid. Posterity will do them full justice.
The financial problem of the Free-traders is—“Given a cheapened nation,
to extract an adequate revenue out of their unremunerated industry.” We
recommend this problem to the study of the Free-trading Chancellor of
the Exchequer. If he solve it, we shall assign him a place superior to
Archimedes in physical—to Bacon in political science.
Public-domain text, read in full here on John Shaqi.
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