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25 Government. A brief Statement of the budgets of ten years will prove whether the so called Liberals have any more claim to a speciality for Retrenchment than they have for Reform.

Thus showing the Liberals have expended in excess of the Derby administration in the last seven years an average of upwards of 4,000,000l. a year.

Thus showing the Liberals raised from the income tax, in excess of the Derby administration, in the last six years, 26,000,000l., or upwards of 4,000,000l. per annum.

Lord Derby left the income tax at 5d.; Mr. Gladstone raised it to 10d.!