The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-04-17
HARCOURT And The BUDGET
The Chancellor Introduces II In the
House Of Commons.

| The Total Revenue For the Last Year
Only 5o7, 900 Pounds Sterling Under
the Estimates - The Expenditures
! For the Coming Year Expected to
Leave Deficit of 4, 5o2, 900 Pounds
! Sterling Sir Harcourt Explains
| How the Government Proposes to
| Make Up the Amount without Max
ing a Loan.
London, April 16.-The budget was in
troduced in the House of Commons to-
day by Sir William Harcourt, chancellor
of the exchequer. Sir William stated
that the fact that the total revenue for
the last year was only R507 900 under the
estimates proved the solidity of the
national finances, in view of the
depression of trade. 1t was estimated
that the expenditures for the coming year
would be e95, ass 900, which will leave
a deficit of 81, 5O2O 600. This deficit he
said, would not be met by either borrow
ing [cheersJ or by abandoning the fixed
provision for the liquidation of the ma
tional debt. 1t was proposedtoc cover the
deficit by appropriating GO, 1855, eco
from the sum mortgaged under the naval
defense act, the income tax, an increase
of the death duties, and an increase of
penny in the pound in the income tax,
Is pence per gallon on spirits and pence
per barrel on beer.
THE SPEECH VERY DULL.
Sir William Harcourt spoke two hours
and three-quarters. His monotonous style
Of delivery added greatly to the necessary
dizziness Of explaining in detail the gov
rupnffq nnrnFolax cahapnn Of o,.iz
ing the death duties by consolidating
the existing five classes, the problem,
account, estate, legacy and success
sion duties into one, which is to be
called the estate duty. This imposes
graduated taxation beginning with l per
cent. on sums of from g100 to $500 and as
cending to per cent on amounts of over
81, 900. A graduated scale is also pro-
posed for the income tax. Incomes of
$50 are now exempt from taxation. The
bill provides that incomes of EGO a
year shall be exempted, while an
abatement of 9140 is allowed on incomes
under 9400 and an abatement of g100 on
allincomes under $500. The feature of
this readjustment is that incomes of $500
will pay no more under the proposed tax
of eight pence in the pound than they do
under the existing tax of seven pence in
the pound.
THE DUTY ON BEER.
Sir William contended that the addi-
tional duty on spirits and beer would fall
upon the producer and not affect the con-
sumer Reviewing the past year, he
showed that the loss in revenue
on spirits had been Offset by the
increase in the revenue from beer, which
had exceeded the record by $4,000.
The chancellor of the exchequer sug-
gested that the increase had been due to
the mild weather The savings banks re-
turns had increased 81 100000, which
was proof that the resources of the wage
earning classes had been enhanced.
GosCHEN ATTACKS THE BUDGET.
Mr.. Goschen said the budget contained
as complicated provisions as had ever
been submitted to parliament. The pro-
posed regulation of the death duties, he
declared, would occupy the entire ses-
sion.
John J. Clancy, nationalist, thought an
increase of the duty on spirits was the
very last expedient that ought to be re-
sorted to for the purpose of meeting the
deficit. Whisky, he said, was the ma
tional beverage of ireland and an in
crease of the duty onsspirits would be felt
keenly.
Sir William Harcourt expressed the
opinion that Mr.. Clancy had made a
mistake. The annual expenditure per
capita for whisky, he said, was 10 shillings
in Scotland, l6 in England and only ID
in Ireland. In view of the enormous
profits made by dealers in spirituous
liquors and beer, it was difficult to con-
ceive of any source of revenue less open
to objection. Gibson Bowles, tory, for
Lynn Regis, said that the budget pro-
posed that the rich be plundered for the
benefit of the poor. The rich were VIC
timized because they we're deserving the
government.
John Morley, chief secretary for Ire
land, reintroduced his motion for the
appointment of committee to inquire
into the workings of the Irish land acts.
The Rt. Hon. A. ]. sBalfour. leader of
the opposition in the house, appealed to
the conservatives to support MIR. Morley's
motion, which was then adopted without
debate.