FINANIE. In the consideration of Indian finance; regard must be given to the denomina tion in which the estimates are made. It estimated in pounds, as in the following table, there is an apparent decrease in most of the non commercial items of revenue and expenditure. (In the contrary, if estimated in rupees. most of than show n very decided increase. The depreciation in the value of the nipec, meas ured in gold, account: for this difference: but since the burden upon the taxpayer is determined by the local purchasing power of the rupee, the question of the etTeet 111/1)11 the welfare of the native is a subject of dispute.
Leaving out of the prises of the Government, are largely it will be seen that customs and excise play a minor part in the support of the Government. while land revenue has contributed on an average considerably over a fourth of the total amount. The stamp. salt. and opium revenues also play a conspi•uou: part. The land revenue, however, is not absolutely lair relatively so important as formerly. This revenue par takes of the nature of a rent, as well as of a tax. The rent varies with soil and the distance from the town, but averages about Is. 101. per acre for the total acreage of eultivat I I land. The opium revenues are secured mainly from the monopoly of the industry in Eastern India, and the export collected in Western India. .111 inerease in the salt duties in 1SSS established the present uniform rate of rupees per maund. The collections from stamps are principally obtained from court fee stamp-. The item in the excise revenue is that eolleeted from the manu fa•turer of spirits, but other souree.s, as. for installet.• the monopolies for the sale of liquors and intoxicating drugs, help to swell the amount. 'rho interests of British trade have determined the 'Jolley of keeping the import duties---espe eially those on cotton goods—at a minimum figure, thoimh the natives have at the same time demanded tariff protection. The general custom: duties of 5 per cent. existing prior to I qS2 were abolished in that year, except those on salt, (Timm wine, beer, spirits, and arms. In I594
a 5 per cent. ad valorem was reimposed, except on machinery and a few other articles; but two years the duty on woven cotton goods was reduced to per cent. ad valorem, and cotton yarn was exempted from duty. Since Itisti an income tax has been assessed upon incomes ex ceeding 500 rupees.
In the last two d•eades of the nineteenth cen tury the budget yielded a surplus for twelve of the period, and showed a deficit for eight ears. The heaviest drain upon the Imperial Ex chequer is made by the military charges. They are followed closely by the cost of the civil ser vice. Both of these items, according to the con sensus of native opinion. are unneeessarily bur densome upon the country. The army charge: are irritating because the natives consider the army too large, and particularly because of the large proportion of British soldiers who nionopolim most of the best positions, and whose salary and pensions are largely taken or sent out of the country. The Civil Service excites native criti cisnt because of the practical monopoly exer cised by the English over the higher offices, and the excessive salaries attached to them. A few English officers receive an aggregate remunera tion considerably greater than that given to the numerous native minor officials. The control of the opium, customs, post-oilice and telegraph. tributes, mint and currency, receipts and the ex penditure under the heads of army and military works, political relations, public debt, and cer tain trunk railways. is retained by the Central Government. The management of all provincial revenues and some of the Imperial revenues is delegated to the local governments.
The following table gives a statement of the average annual expenditure for the two decades indicated and the year 1901: £5,000,000, and other obligations assumed in India for savings banks, departmental and deposits, etc., which brought the total liabili ties up to 1223.843,244 in 1901. The total interest for that year, amounting to £7,436.973, was distributed as follows: Railways, £4,376, 699; irrigation. £921,328; ordinary debt, £1,776, 406; and other obligations, £362.540.