Thursday Morning. The steamer which was to have taken this letter to Lytteßon two days ago, has not yet started. Some of what is above written has therefore become stale news; and even that which I have now to write ai-out—the budget speech of Mr, Fitzherbert—has been antici pated by the telegraph, Yesterday evening the Colonial Treasurer redeemed his promise of laying before the representatives of the people, his financial proposals for the coming year. I enclose a report which appears in the Independent, and which is said to have been supplied from head quarters. But it is said also that one or two material points have been strangely omitted in the written statement though distinctly mentioned in that which was spoken. I have not had time to compare the report carefully; but I think all the impor tant portions may be condensed into a space and shape more easily comprehensible by your readers than the statement in full. Mr, Fitzherbert accepts Mr. Jollie's facts and figures, and his estimates generally, ex cept in such points us are specially men tioned. He proposes one reduction only in the expenditure, namely under the head of Defence, from £107,000 to £70,000, or n decrease of £37,000. This is done in pur suance of the new plan of keeping one Queen's regiment in the colony; and the new force is not to be a "rudimentary army," but a constabulary force. Notwithstanding these changes, he protests in warm language that the Government do not abandon the principle of self-reliance; and Mr. Stafford cries" hea.r, hear." A few trifling reductions on the original estimates being made in committee, Mr. Fitzherbert finds that the real current expenditure of the General Go vernment for this year will be £733,808 ; to which he adds three-eighths of the esti mated Customs, or £318,750, to he se cured by appropriation to the provinces The total out-going is therefore £1,057,558. He has removed from the year's estimates, in making this calculation,all the items (military settlers, telegraphs, &e.,) which are of a per manent and not annual character. To bal ance the expenditure he expects a revenue of £1,058,500 to be thus made up:-

Customs £850,000 Other ordinary revenue... 146,500 Additional postal taxation 7,000 Stamp duties 50,000 Bonded warehouses 4,500 Distillation duties 1,000 £1,058,500 The first two items are the same as esti mated by Mr. Jollie. 