British Budgets 1887-88 to 1912-13

By Bernard Mallet | Go to book overview

MR. GOSCHEN'S BUDGETS.

FIRST BUDGET, 1887-8.

April 21, 1887.

ON the 21st of April, 1887, Mr. Goschen, as Chancellor of the Exchequer, opened the first of a series of six budgets which will form the subject of the opening pages of this study.

Little more than three months had passed since Lord Randolph Churchill's sensational resignation had endangered the existence of the new administration, and led to Lord Salisbury's offer to make way for Lord Hartington. The crisis had been averted by Mr. Goschen's acceptance of office under Lord Salisbury, and the propriety of his decision was recognized by all parties, and by none more cordially than by the Liberal friends with whom he had laboured in the cause of the union. But it was some time still before the Government emerged from troubled waters: the sudden death of Lord Iddesleigh cast a cloud on the reconstructed Cabinet, and the meeting of the round table conference, at Mr. Chamberlain's suggestion, revealed differences among prominent Unionist's which seemed to justify the pessimistic views of the political situation held at that time by the Conserva-

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