The universal geography : earth and its inhabitants

GOVEEXMENT AND ADMINISTRATION. 485
charge for interest and management of the debt lias been reduced £4,000,000
since 1817— partly, of course, by paying oflf tlie principal, but more by the
reduction of the interest.* This decrease in the charges of the debt, added to
the greater productiveness of taxes and duties resulting from increased prosperity
of the people, has enabled the Government to reduce taxation, and to introduce
Fig 23C.
—
Beeaches ix the North Dottxs axd the Camp of Aldershot.
Scale 1 : 160,000.
financial reforms. To what extent this has been effected may be judged from the
fact that while, in 1861, imperial taxation, direct and indirect, amounted to 45s. a
bead of (he population, in 1879-80 it only reached 34s.
"Whilst the national taxation has thus undergone a considerable reduction,
the local taxation has risen during the same period from about £18,000,000 to
£37,000,000, or from 13s. to 22s. per head. Nor must vre lose sight of the
fact that the imperial budget is closely connected with that of India, which
almost regularly results in a deficit. It having been found impossible to raise
a revenue in India sufficient to defray the expenses of government, England
is perpetually being called upon to pledge her credit to meet the deficiency.
The Chancellor of the Exchequer is therefore bound to husband his resources
with the greatest care, in order that he may be prepared to meet the dangers
' The National Debt :—
IT'o (commencement of American war)
1793 (commencement of the French wars) .
1 8 1 7 { consolidation of English and Irish Exchequ ers)
1838
1853 (before Crimean -war) ....
18.56 (termination of Crimean war)
18S0
Anniml Charge Debt, after deduetrrincipal,
funded for Interest and ing Balances in
and imfunded.
agement.
£128,583,63.3 £4,471,571
2.39,350.148 9,208,495
840,850,491 32,038,291
792,306,442 29,461,528
771,335,801 27,804,844 £766,850,571
833,857,515 28,191,977 828,256,894
774,014,235 28,111,810 770,770,807