'Goody Gladstone's Gifts', 1864. Mr Gladstone, on the right in this cartoon, had just introduced his 1864 Budget. A surplus of £2,570,000 during the previous year had allowed Gladstone to shave a further penny off income tax, leaving it at sixpence in the pound. He had also lowered sugar duties and reduced the duty on fire insurances from 3 shillings to 1 shilling and sixpence. He did not propose any change to the malt duties. Here, Gladstone is giving Disraeli, representing the Agricultural Party, a penny, some sugar and a fire medal, saying that he will consider malt some other time. Note the picture in the background showing the amount of the surplus, but still with his switch tucked behind the frame for future use. From Punch, or the London Charivari, April 16, 1864.
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