The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-03-06
English People Are to Be Taxed
Sixty Million Pounds.
EXPENSES MAY BE MORE
Beers MAY HAVE TO CONTRIB
UTE PART OF AMOUNT.
Estimates Now are Six Times Greater
Than Those Set Forth In Last oc-
tober-Various Methods Suggest
ed For Raising the Sum-Taxpay-
ers Must Make Sacrifice.

IOhcon, March 5.-The house Of COM
mons was crowded today in anticipa-
ton Of the budgst statement. The re-
port Of the chancellor of the exchequer.
Sir Michael Hicks-B Beach, introducing
the budget, shows that an expenditure
of 9154,0S2, 900 has to be provided for
in the budget of 19OO-1S01. The state
ment shows that the exehequer ac-
count of 1S99-1s0O would have given a
surplus of upwards of $4,000, 900, but
the supplementary war estimates Of
e %, 100000 makes the expenditure ex-
coed the revenue by e17,770.000
The chancellor of the exchequer, af
ter laying the figures before the house.
pointed out that the country had to
race total estimated expenditure, in
consequence of the war, of no less than
six times as much as had been esti-
mated in October last. Against the es-
timated expenditure of e154,0S2, 900 for
the coming year, the chancellor Of the
exchequer estimated the revenue on
the basis of taxation at &1l6, 900, 900, or
deficit of e37, 600 900.
Dealing with the war expenditures,
he said the government had made the
best calculations as to the amount it
ought 70 ask from parliament with the
view of successful prosecution of the
war, but it was impossible to be GER
tain when the war would be concluded,
and the expenditures might be larger.
On the other hand, however, a happy
| change in the military situation. and
! the fact that the season now fast ap-
preaching was. in the opinion of all
| the authorities. favorable to Boer OPP
erations, had to be considered.
May Want More Money.
He might be obliged in July or Aug
ust to ask parliament for further re-
/ lief, but he believed he was fairly JUS
| titled in hoping that the intended ex-
penditureS would suffice to successfully
conclude the war. He estimated the
/ total war expenditures, including the
/ deficit of eli, 10000, at 860, 600, 600.
The chancellor of the eXchequer char
! acterized the suggested methods of
/ fresh taxation as in no way impracti-
/ cable, saying that the government felt
| justified in raising a portion of the war
| funds by loan, but, he added, it was
also justified in calling upon the tax
payers for an immediate and substan-
tial sacrifice.
In this connection he thought they
could reasonably anticipate that the
/ more acute and more costly phases of
| the war would not last long. He asked
| the taxpayers to subscribe to the cost
of the war by an increase of the income
! tax to one shilling in the pound, as pro-
ducing an additional e6.50O,000.
Increase Stamp Duties.
Sir Michael Hicks-B Beach also said
/ that in order to meet a war expendi-
ture of eco, 000, 000 he would propose
| that the stamp duties on stock eX-
| change contract notes be extended to
J sales on the produce exchange; that
I the beer duties would be increased a
shilling a barrel of thirty-six gallons.
| that there would be an increase in the
| duty on spirits of six pence per pound
and tea two pence per pound.
He anticipated that the above
changes would increase the revenue
| Ell, 317 900, and he proposed to save
| G4,640,000 by suspending the sinking
/ fund in relation to certain annuities
He proposed to borrow the rest of the
/ necessary fund. A total Of e43, 900 .OOC
had to be raised, of which $4,000, 00C
was now in the treasury and e35, 000,-
600 would be raised by bonds or stock
repayable in a term not exceeding ten
! years.
During the course of his remarks, the
chancellor of the exchequer, referring
to his previously expressed opinion re-
garding the capacity of the Transvaal
to bear a responsible share in the ex-
penditure of the war, said he still ad-
hered TO that opinion, but he was bound
to say that the events of the last five
months and the claims which would
undoubtedly be made by the local col
onists of Natal for compensation fol
/ leases sustained at the hands of the
Beers, and the enormous increase in
| expenditure since he last spoke, had
made him feel that the capacity of the
| TransVaal to bear the cost of the war
was a less important factor, though il
was still an important factor, than he
| taI IN OItohaYs n