Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1888-03-27
FOREIGN intelligence.
PARLIAMENT.
1OSchen Introduces The Financial Budget.
Statistics Concerning Englands Reve-
nue. and Expenditures,
LONDON, March %.
House of Commons.

Goschen, chancellor of the exchequer, in
troduced the budget in the House of Com
mons this evening. The House was crowd
ed. Goschen said the local government bill
gave special interest to the present budget.
Hitherto the chancellor of the excheQuer had
to consider chiefly the claims of tax PAYERS.
On this occasion the claim rate of payers
had TO be considered. The total expendit-
ures for the current year have been fS7.-
i2l 900, showing saving of f32S 200 on
the budget estimate. and f6l2.o00 over the
preceding year. The total revenue was
ESQ, $50 200, being Il 454 900 more than the
estimate. Cheers The excess of reve-
nue. over the estimate added to the saving in
expenditures, gave total realized surplus
of fe.l65, 600, the greatest since 1874.
(Cheers.) He begun the year with bal
ance of 20 $50 200, and ended it with bal
ance of f7,43s.ooO.
Coming 10 the national debt he said that
they had decreased their liabilities during the
year t. ,60l 900, the largest sum paid off
during any year since 1872. (Cheers) The
total expenditures of the coming wear
were estimated at fS6.9l0, 900 decrease of
f5l2 900 compared with the present year.
The revenue is estimated at ESQ, PSF 900,
giving a surplus of 2.311 900 over the ex-
penditure. They proposed TO divert from
this to local county authorities Il, ,l25 200
ms would leave balance fl ,252 200.
They desired to take penny off the income
tax, and as the balance was not sufficient
they proposed to raise enough by various mi
nor taxes, including duty Of $. per cent.
on the transfer of certain fugitive stocks, 6
penny stamps on contract notes, a duty of fl
upon every pleasure horse, f5 upon race
horses "a 81 nf IS
fl per e 900 capital and duty of $. per
doze ON bottled wines. BY these means they
would obtain surplus enough to enable them
to take penny off the income tax. CHEERS
They had still surplus of f2l2,000 which
he surrendered 10 the authorities of the
budget, which would also get $40 900
from the new licenses. 1t was the intention
of the government to utilize the revenue
from Suez canal shares amounting to f570.-
900 yearly, raising on this same loan f2 ,3O0,-
900 TO meet the expenditures for fortica-
tons. In this way they would avoid placing
the slightest burden npon tax payers
(Cheers.)
Goschen's speech lasted four hours, and
abounded III intricate details. Childers, who
was himself formerly chancellor of ex-
chequer, complmented Goscheu upon the
lucidity of his statement.
Goschen asked the House to pass resolu-
tions at once, reducing the income tax and
increasing the duty on wine
Harcourt stated that he thought the pro-
posal relating to the duty on wine ought to
be passed Without delay, but not the income
tax, a proposal which involved the subsequent
sanction of number other taxes. The de-
bate continued. Goschen's proposals com
manded the admiration of the ohbies. 1t is
expected they will be resisted in some of the
minor points but in main will be accepted