The Edinburgh Review, Vol. 190
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Produktbeschreibung
Excerpt from The Edinburgh Review, Vol. 190: Or Critical Journal; For July, 1899;;; October, 1899; To Be Continued Quarterly The next epoch covered the succeeding fifty years, and was definitely terminated by 1875. Finance was a burning subject in those days, and its two chief exponents, Peel and Gladstone, rose naturally to supreme place. One led the Conservative, and the other the Liberal, party, but both were scholars in the same school, and were as father and son in the service of the commonwealth. Thus finance made its exit as it were from the arena of party politics, and a steady and consistent national policy was pursued. One main idea that dominated in the councils of this middle age was restriction in expenditure. For many years this principle met with such general acceptance that in 1853, the year prior to the outbreak of the Crimean War, the expenditure stood at the very figure with which the epoch in question began. Then ensued a formidable contest of opposing views, in which the leading champions were Palmerston for a more liberal outlay, and Gladstone for the old policy of restriction. For about ten years from 1853 expenditure grew rapidly, thanks in the main to the Crimean War and the Indian Mutiny. But in 1862 a motion for economy was carried in the House of Commons, and shortly after retrenchment resumed its reign. Some years later, in 1870, the Chancellor of the Exchequer, in making his budget speech, after announcing certain reductions in the army and navy expenditure, proceeded to inquire into the cause of the singular prosperity in our national finance. ´The secret of all this success,´ he said, is the simplest in the world - it is nothing on earth but economy,´ and he added that he looked for continued progress in this direction. Strange delusion to have cherished in 1870, the year of the Education Act, and, in a very different order, of the Franco-German War! Two motives for the policy thus described readily present themselves. The burden of the national debt accumulated during the Napoleonic struggle was very serious, our predecessors at the commencement of the present reign having to devote over 58 per cent, of their total expenditure to its annual service, or nearly three times the present proportion. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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