Twenty years of financial policyA summary of the chief financial measures passed between 1842 and 1861, with a table of budgets . nthe policy of Lord J. Russells Government ofthose symptoms of financial weakness which hadcharacterized the Administration of Lord Mel-bourne, were indications of a growing evil,which, had it not been stayed, might havewrought fatal effects when the nation came tobear the burden of the Crimean war. Thatwar, as we now acknowledge, revealed to usmany imperfections in our military system ; butthe strain on our finances brought to light no-thing but their soundness and
Twenty years of financial policyA summary of the chief financial measures passed between 1842 and 1861, with a table of budgets . nthe policy of Lord J. Russells Government ofthose symptoms of financial weakness which hadcharacterized the Administration of Lord Mel-bourne, were indications of a growing evil,which, had it not been stayed, might havewrought fatal effects when the nation came tobear the burden of the Crimean war. Thatwar, as we now acknowledge, revealed to usmany imperfections in our military system ; butthe strain on our finances brought to light no-thing but their soundness and their vigour. 236 Twenty 7ears of 1853. Chap. IV. Could we have borne that strain as we did, if ithad not been for the life which Sir Robert Peelfirst infused, and which Mr. Gladstone after-wards renewed, in our fiscal system, and but forwhich 1854 might have found us strugglingwith an overwhelming deficiency, or inex-tricably entangled in the toils which must at-tend a reconstruction of the Income Tax ? Itwas well for England that, in this respect atleast, we had set our house in order before theday of trial came upon Financial Policy. 237
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