The Life and Times of Queen Victoria; vol. 2 of 4Wilson, Robert
History
The Life and Times of Queen Victoria; vol. 2 of 4
Wilson, Robert
Great Britain -- History -- Victoria, 1837-1901; Victoria, Queen of Great Britain, 1819-1901
Sir George Cornewall Lewis brought forward his Budget on the 30th of
April. He could estimate for a prospective revenue of £63,000,000. This,
however, still left him with a deficit of £23,000,000, which he raised
(1), by a Three per Cent. Loan of £16,000,000; (2), by an addition to
taxation which brought in £4,000,000; (3), by raising £3,000,000 on
Exchequer Bills. “The additional taxes,” Sir George Lewis wrote to his
friend Sir E. Head, “were, however, assented to without resistance by
the House, who feared a larger addition to the Income Tax, and thought
that if they objected to my proposition, taxes which they disliked still
more would be substituted.” As for the loan, the Money Market, he says,
“was in a state favourable for such an operation; for at present there
is an abundance of money, but a want of profitable investment for the
purpose of trade.”[221] The loan of £2,000,000 to Sardinia was
sanctioned without much demur, but the loan of £5,000,000 to Turkey was
violently objected to--especially by the Tories and Cobdenites. It was
raised under the joint guarantee of France and England--an arrangement
which many people thought might create disputes between the guarantors.
Lord Palmerston, in fact, only carried the loan through by a vote of 135
to 132. Lord Aberdeen’s followers opposed the transaction, and their
opposition was resented by the Queen, who had already concluded and
ratified the arrangement with the French Emperor for guaranteeing the
loan.
[Illustration: THE WOUNDED SOLDIER’S TOAST--“THE QUEEN!”]
Public-domain text, read in full here on John Shaqi.
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