Page:The Earl of Mayo.djvu/148

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THE EARL OF MAYO

left an aggregate surplus of 5¾ millions, and that period of surplus was only interrupted by the Behar famine two years after his death.


Bird's-eye view of the results of Lord Mayors Financial Administration.

Years of Deficit. (Before Lord Mayo's arrival.)

Year of Equilibrium. (Lord Mayo's first year.)

Years of Surplus. (After Lord Mayo's Reforms.)

1866-7 £2,307,700 1867-8 923,720 1868-9 2,542,861

1869-70 £108,779 (Surplus in sterling)

1870-I . £1,359,410 187 1-2 . 2,863,836 1872-3 . 1,616,888

£5,774,281

Total deficit of three years reduced to Sterling.

£5,840,134

Total surplus for three years reduced to Sterling.


The four continuous years of surplus which thus resulted from Lord Mayo's measures had only one precedent during the period from 1843 onwards, for which the Parliamentary Abstract gives the returns. That single precedent is found in the years 1849 to 1853, under the rule of the great Governor-General, Dalhousie. Nor has there been any subsequent example of four consecutive years of surplus since Lord Mayo's Viceroyalty down to the present date (1891).

Sir Richard Temple, the Finance Minister, was like Lord Mayo in his first year of office. Warned by the disappointments of his predecessors, Sir Richard Temple framed a very cautious Budget for 1869-70,