The Life and Times of Queen Victoria; vol. 4 of 4Wilson, Robert
History
The Life and Times of Queen Victoria; vol. 4 of 4
Wilson, Robert
Great Britain -- History -- Victoria, 1837-1901; Victoria, Queen of Great Britain, 1819-1901
During their five years of power the Government had remitted £9,000,000
of taxation. They had reduced a chaotic Naval Administration to
something resembling order, and not far removed from efficiency; and
yet at the Admiralty there had been a saving of £1,500,000 on the
Estimates of their predecessors. They had taken the Army out of pawn
to its officers by abolishing Purchase, and had laid the basis for a
compact military organisation; yet they had saved £2,300,000 a year at
the War Office. The Army and Navy, though by no means efficient, were
much more efficient than they had been when Mr. Gladstone’s Ministry
came to power; and yet they were costing the country £4,000,000
less a year.[56] In spite of the great increase in Civil Service
expenditure--much of which, like the Education Vote, being morally
rather than financially reproductive, showed no “results” in figures
on the credit side of the public ledger--there had been since 1857
a decrease in the drain on the taxes of about £1,500,000.[57] Mr.
Lowe’s last Budget in 1873 did not discredit the Ministry. In spite
of his reductions of taxation in the previous year, he had obtained
£2,000,000 more than his estimated income. For the coming year (1873-4)
he estimated a surplus of £4,746,000; but he could promise no great
remission of taxation, for he had to pay the damages (£3,000,000) which
had been awarded at Geneva to the United States Government. Still, he
halved the sugar duties and took another penny off the Income Tax.
With all his faults, he was accordingly entitled to claim credit
for reducing the Income Tax to the lowest point it had ever touched
(threepence in the £) since it had been imposed by Peel in 1842.
And yet Mr. Lowe could not, even with such a Budget, refrain from
expressing his thankfulness in an acrid gibe against the populace.
Referring to the marvellous increase in the receipts from Customs and
Excise, he said he had been able to produce a good Budget because the
nation had drunk itself out of debt.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account