The cost of the English part of the expedition, Mr.
Gladstone, true to his strict financial principles, proposes to raise at once out of the taxation of the year,—though we are still paying off the burden left upon us by the dilatory finance of the last Government. He increases the Income.tax of the year by 1 id.,—the whole of which he intends to raise by adding 3d. to
the Income-tax of the second half of the year,—and by this, he expects to raise £2,262,000 within the current financial year, while there would remain a sum of between 2500,000 and 2600,000 to receive, in the early part of the next financial year. Further, the state of the Revenue warrants him in pro- posing to give up the extra tax on carriages, by which in his Budget he had proposed to the House to provide an Imperial contribution in aid of the local payment for highway-rate, as he is compelled to add to the Income-tax. This manly proposal to pay the expenses of the military operations in Egypt out of the taxation of the year is worthy of all honour, and even should more be needful than is at present wanted, we trust that the Government will persevere in raising it by way of taxation, and not think of borrowing from posterity for the sake of re- lieving the present generation of the burdens which it is its simple duty to bear.
