GOVEEXMENT AND ADMINISTRATION. 



485 



charge for interest and management of tlie debt lias been reduced £4,000,000 

 since 1817 — partly, of course, by paying off the 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 236. — Bkeaches in the Xorth Downs and the Camp of Aldershot. 



Scale 1 : 160,000. 



2 allies. 



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 

 head of the 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. 'Not must we 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 miy be prepared to meet the dangers 



The National Debt :- 



1775 (commenceinent of American war) 

 1 793 (commencement of the French wars) . 

 1817 (consolidation of English and Irish Excheqn ers) 



1838 



1853 (before Crimean wnr) .... 



18.56 (termination of Crimean war) 



1880 



Annual Charge Debt, after deduct- 

 Principal, funded for Interest and ing Balances in 



and unfunded. 



£128,583,635 

 239,350.148 

 840,850,491 

 792,306,442 

 771,335,801 

 833,857,515 

 774,014,235 



Management. 

 £4,471,571 

 9,208.495 

 32,038,291 

 29,461,528 

 27,804,844 

 58,191,977 

 28,111,810 



Jixebequer. 



£766,850,571 

 828,256,894 

 770,770,807 



