I give the noble Earl at the head of his Majesty’s Government full credit for the diminution in the expenses of the country which has been effected by the Government, but I cannot help thinking that such diminutions will prove to be generally detrimental to the country, inasmuch as they are effected merely for the purpose of meeting a deficiency in the revenue for the moment.  But the fact is, that many of these reductions are applicable to the army, to the navy, to the militia, and other most essential services of the country, which, although not estimated for this year, must be provided for at a future period.  For instance, one branch of these savings is that for training the militia; the saving, under this head, is 190,000 l.; but it is quite clear that this sum must again be expended when the militia shall be trained in future years.  Another saving is that of freight, transport, and provisions of soldiers from one part of the world to another.  Now, it is very true, that during the present year this reduction may be made, because it does not happen that the change of regiments in the West India colonies and India takes place; but such will not be the case in another year, and the expenditure of 45,000 l. on that head, which does not appear in these estimates, must again occur.

Another item of reduction is in the purchase of timber for the navy service, which amounts to the very considerable sum of 400,000 l.  It is evident that the magazines of this country must be kept up, and all that is really done by this apparent saving, is to throw the burden, to this extent, on future years.  With a view to a secure and adequate supply, and to the proper seasoning of stores, and with a view to the probability that it may become necessary for his Majesty’s service to make some great exertion, it is impossible that less than double the amount of the estimate of the present year under this head, can permanently suffice.  Now, it is impossible to look upon these savings in any other light than as temporary, and I will go so far as to say that it would have been a much better principle of economy to spend this money than to save it, if the distressed state of the finances had not absolutely required the reduction of the expenditure.  But I cannot help taking another view of the subject.  It is necessary for the country, and essential to the character of the Government, that they should look beyond a mere balance of income and expenditure, with a view to be prepared for unforeseen emergencies which may arise.  Can any body say, that the Government is now left in the situation in which it ought to be left with respect to finances?  This is the last session of the present Parliament.  A reformed Parliament will meet next session, and it is impossible for any man to say what will be the conduct of that Parliament with respect to finance.  But this is not the only ground on which it is desirable that the finances of the country should be in a more satisfactory state.