The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-27
An Elaborate Scheme Lucidly Explained to the
Members of the House of Commons, and
Received with the Greatest Favor.
Emperor Frederick Reported To Be in
an Improved Condition of Health,
Caused by the Removal of Diseased Cartilage,
Which Is Held to Prove that His Disease
Is Not CancerOus-Notes by Cable.
ENGLISH FINANCES.
Chancellor Goschen's Scheme Meets Very
Favorable Consideration.


Chancellor Goschen's Scheme Meets Very
Favorable Consideration.
LONDON. March 26-Mr. Goschen, the Chan
cellor of the Exehequer, introduced the budget
in the House of Commons this evening The
house was crowded. Mr.. Goschen said that the
local government bill gave q special interest to
the present budget Hitherto the Chancellor of
the Exchequer had had to consider chiefly the
claims of the tax payers. On this occasion che
claims of rate-payers had to be considered.
The total expenditures for the current year
had been 987, $1,000. showing saving of f423.-
600 on the budget estimate. and of f612. 900 over
the preceding year. The revenue also presented
satisfactorily account The total was Esq.,
$4,000 being Ell ,454, 900 more than the estimate.
[Cheersl. Coming to the details of the budget.
the customs on tobacco showed 9 reduction in
revenue of f595, 600; but the actual
sumption had increased under the
ranged duty the advantage of the
sumner, who now consumed more tobacco and
less water than before. The decline in revenue
from spirits and wine had stopped for the first
time In many years. The total increase in reve-
nue. had been 100000 from spirits and
FL, ,l2O. 900 from stamps and succession duties
over last year. This was the most promising
field for ths exchequer reaper. This showing
was also proof of the general prosperity of the
country, the increased revenue from stamps
especially indicating revival of trade. OF the
income tax he could not speak with satisfaction,
since 1884 To sum up. the excess of revenue
over the estimate added TO the saving in expendi-
lures, gave total realized surplus of E. l65 000
the greatest since 1874. He had begun the year
with balance in hand of f5 95O, ,0O0 and had
ended it with balance of S7.438, 900.
He had special reason for desiring a
handsome balance, his object being to pro-
vide for those stockholders who might prefer
TO be paid off under the consuls conversion act
instead of taking new stock This f7 600
would meet any exleency. Coming to the ma
tional debt. they had decreased their liabilities
during the year by Ell COL 900, the largest sum
paid off during any year since 1872. Dealing
next with the estimates for the coming year. he
said it was calculated that the total expenditure
would be ESQ 910 000 decrease of G512 900 as
as estimated, would be eSs, ,287. 900. giving a
surplus of f2,377, 600 over the expenditure.
They proposed TO devote from this amount TO
the local county authorities the sum OF
81, l25 OOO This would leave a balance
Of Ell, ,252 000 They desired TO take
penny off the income tax. and
as the balance not sufficient, they proposed
to raise enough by various minor taxes. includ-
ing duty of one shilling on the transfer OF cer-
tain fugitive stocks. a six-penny stamp on con-
tract notes, duty of FL upon every pleasure
horse aud of G5 upon race horses. tax the
issue of new companies of El per G1 900 of capi-
tai. and duty of Eve shillings per dozen
bottled wines. By these means they would OBJ
tain surplus enough to enable them to take a
penny off the income tax. Cheers They had
still surplus of G2l2. 900 which he surrendered
to the local authorities budget. which would
further get 6840. 900 from new licenses. Here
he entered upon a complicated ana detailed ex-
PLANTATION as to how the imperial taxation and the
local taxation were separated. Referrin ng the
imperial measure to fortify ports and coaiing
stations he stated that il was the intention of
the government to utilize the revenue derived
from Suez canal shares, amounting to $1,000 900
yearly, raising on this sum loan of e., 300, 600
to meet the expenditures for fortifcations. In
this way they would avoid placing the slightest
burden upon taxpayers.
Mr.. Goscben concluded his speech, which
lasted four hours and abounded in intricate de-
tall hxyf u fha H,or1oa fOpf fnae
tion with which it had listened to him.
Mr. ChIlders, who was himself formerly Chan
cellor of the Excheouer. complimented Mr.
Goschen upon the lucidity of his statement,
considering the involved matters with which he
had to deal.
Mr.. Goschen asked the House to pass resolu-
tions at reducing the income tax and in
creasing the duty on wine.
Sir William Vernon -Harcourt said he thought
the proposal relating to the duty wine ought
to be passed without delay but not the income
tax proposal. which involved the subsequent
sanction of number of other taxes. The de-
bate continued.
Mr.. Goschen's proposals commanded the ad-
miration of the lobbies. 1t is expected they will
be resisted on some minor points, but in the
has greatly enhanced his reputation.
Replying TO Mr. Nolan, an Irish member, Mr..
Goschen said he most sincerely desired that Ire
land should have fair share of the reductions
in taxation. He was quite ready TO discuss the
matter with Mr.. Nolan with the view of
adjusting the taxes, il . change were found
necessary. Giving futher details as to minor
changes in the method of taxation he an
nounced that he hoped. in the course of the
sion, to introduce bill providing for the col
lection of the income tax by inland revenue
officers. In reply to further criticisms, he ad-
mitted that the budget did not rival the great
budgets of mr. Gladstone, but said IL was i'm
possible to further simplify taxation or reduce
the duties on IMPORTS, although some duties. es
pscialy that on tobacco, were still too high.
The resolution increasing of the duty on wine
was adoDted.
Mr.. Ba.four asked the house to senction a
bill TO expedite business in the Irish lnrd courts
by appointment of assessors assist the judges
The Standard says: "a more complicated
budget than Mr.. Goschen's has never been laid
before the House of Commons. On the whole
he performed his task we'll There is no doubt
that. taken altogether. the budget shows great
ingenuity and painstaking care, although, doubt
less 1t viii cause many heartburnngsn
The Times says Mr.. Goschen's speech will
take place in the history of the country beside
the famous statements of Peel and Gladstone
He exhibited perfect mastery of the details Of
very difficult question