New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-06
THE COST OF THE WAR.
BUDGET ESTIMATE, feo.OO0,Ooo- HOW SUN
WILL BE RAISED.
fCopyr1ght: 1900: by The New-York Tribunel
[By CABLE TO THE TRIBUSE.l

copyright. 1900: by The New-York Tribune.l
IBy CABLE TRIBUSE.l
london, March G, ] a m.-PubIic interest cen
tired yesterday in the budget with its proposals
for financing the war The Chancellor of the
Exchequer Sir Michael Hicks Beach, estimated
the deficit in the revenue for this year and the
taext on account of the f60,0O0,000. He
provides for it by obtaining 900 through
increased taxation, by saving t4,640,000 on
ternninable annulties and by borrowing f43 000-
0oG. He adds 4d 10 the income tax, % a pound
10 tea Sd a gallon 10 spirits, shilling a barrel
10 beer "a a pound to tobacco, Cd pound to
cigars and a shilling to the Stamp Tax
orokers' contracts for the sale of produce on
large scale. The Budget highly commended
by Sir Henry Campbell -Bannerman, the leader
OF the Opposition. and Sir William Vernon-Har
court sound and courageous Free trade LIB
erals were grateful because Sir Michael had not
listened to the temptation offered by the finan-
cial expert of The Times" who had demon
ttrated that from f12OO0O00 to f15.OOOO0O could
be obtained by taxing sugar penny e pound
ead that sources Of revenue could be
opened by moderate duties imported grain
and meat.
The Budget proposals were less popular on
the Unionist side, where there many I'M
perialists who perceived the advantage Of widen
Ing the basis OF indirect taxation in war time
when the reserves of direct taxation were
hsusted in tine Of peace. Income tax payers and
classes generally will be heavily burdened, but
the masses will have cheap jam for breakfast
and be spared any approach 10 taxation food
Nearly all financial experts assert that the
VIII cost f100.O00,000 rather than f60,O00,OO0.
All news from the front yesterday stale
fat and unprcfitable. Belated accounts Of the
Ladysmith operations disclosed the fact that
Long Tom had not been captured on Bulwana
Hill and that the Beers had carried off all their
ertillery except two small guns. Full lists Of
the casualties IN Sir Redvers Buler's operations
during the ten days fight have been posted at
the War Office. and heavier than had been
expected. The aggregate is about eleven hun
ored, including 40 killed. The relief of Lady
smith and the release Of eleven thousand men
have justified these losses. officers Of General
Buffers army in their letters to friends after
the battle Of Colenso assumed that Ladysmith
could not be relieved without the loss of ten
thousand men.
There was news at midnight from Lord
hobertss headquarters, and dispatches from
General Clenents's and General Gatacre's fields
Ct operations contained nothing of real mpor
tance. The Times" to-day will have an inter
estng dispatch from Lourenco Marques the
political situation in the two republics and the
relations Of the two Presidents. but there is no
decisive evidence that either KrugeT Steyn
Is thinking seriously OF negotiating for peace.
Inc war seems likely drag for many
months unless they become convinced that they
settlement the basis OF suzerainty of the
crown, legislative autonomy, payment of indem-
mites and equality in conditions Of suffrage.