New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-12-16

THE CHEM1Cl
force OF oldtine instinct and habit brings the
veteran 10 the front whenever there is a fresh
crisis In public affairs OF a chance for new de-
parture in national policies. He always speaks
with authority. for he occupies unique position
as a journalist who has not only advocated, but
even created. new order OF craftsmanship for
the empire. It MT. Greenwood who brought
about the purchase by the British Government
Of two-ffths OF the shares OF the Suez Canal He
received private information that the Khedive's
stock was IN the market and could be bought
He proposed 10 Nj. Disraen, who was Prime
Minister. that the shares should be purchased in
the name Of the British Government Mr. Dis
Fsen acted instantly upon the suggestion. and
with the help Of the Rothschilds secured for
over 100000 sterling $4,000 shares when the
Khedve was on the verge Of bankruptcy. The
act was not, perhaps. constitutional. since the
bargain Was made without the consent OF Par
lament but the country electrified and
Mr.. DisraeH was credited with brilliant stroke
Of craftsmanship. The purchase Of the shares
shifted the geographical centre Of the British
Empire from COnstantinople 90 Cairo. involved
the ultimate control Of Egypt and the outlying
Khe6ival empire as far the Equatorial lakes.
secured the shortest waterway to India and pro-
vided the British Treasury with most fortu-
nate investment which would become in due
time an important source OF revenue. This was
Mr. Greenwooc's contribution to the history OF
the British Empire
ldr Greenwood. with the prestige Of this great
achievement behind him. has come forward this
week as the advocate on Imperial grounds Of
complete change in the tariff policy and system
Of taxation In the United Kingdom. In
Weghty letter published conspicuously in Mr..
Alfred Harmsworths Daily Mail" he takes up
the subject Of taxation for the times on a scale
Commensurate with the requirements OF I'm
perisl defence. He starts with the assumption
that finer army is not wanted for parade. like
Lord Mayors retinue and that the Admiralty
IS not building ships as a millionaire constructs
orchid houses or collects Botticellis. He asserts
that increased expenditures on fleet and army
are h. leous waste IL there be NOT a growing
menace Of attack on the empire or It's means Of
existence; and he assumes that the danger is
real that England has had long spell Of con-
quest, and is now entering on a prOtracted period
OF defence. for which a new financial policy Is
indispensable. He ridicules the half hearted ex-
pedients Of the present Chancellor OF the Ex-
chequer for providing revenue by steady in
crease OF the burden Of direct taxation, and he
asserts that the present financial system is in
capable Of supplying the costs Of a long period
OF conflict, or even Of maintaining year after
sNNA q oNAllNlF-lAlg AoiililuobAS SNnCAAN u w
fensive preparation. The future he cOntendg
may demand return to indirect taxation.
TAX or IMPORTS SUGGESTED.
The Daily Mail" is evidently impressed by
his argument for in a brief comment it asserts
that new and indirect taxes will be required for
meeting the cost OF the coming period Of de-
fensive operations. and thu. "a tax Of : or 10
per cent or foreign manufactured imports would
bring IN many millions. and be scarcely felt by
the taxpayers who in that case would pay in
microscopic instalmeuts-not in one large lump
sum The Daily Mali is indeed becoming an
American journal in more senses t0an one. 1t
carries M. Greenw0od's argument TO its logical
conclusion but is perhaps more definite and
precise than his own statement Of the case He
reasons that direct taxation has only one advan-
tsse over Indirect taXation-co-nparative sim
phcity and cheapness Of collection. He admits
thar income taxes and pom taxes. lnasmuch as
they are directly felt. are a hindrance TO war.
and consequently that the Cobdenite school was
wise in its generation in closing as many sources
o. Indirect taxation possible in the interest
OF the worlds peace. He contends that. while
4 was good policy 10 make war expensive and
unpopular by forcing the taxpayers 10 settle the
bills out OF their own pockets. the Europe Of to-
cay Is not the Europe OF the Manchester School.
when England was the most powerful lighting
safe with the greatest command OF alliances
me conditions, he says. are now changed. peace
or war not being al the choice OF England. and
direct taxation which was once q hindrance 10
EPoioable wars. now weighing upon the spirit
q forced and prolonged defence. An extern
zion OF direct taxation by heavy increases Of
charges upon incomes and by the levying OF
pom tax upon every Briton he considers the
sorst possible expedient for the country
Nj Greenwood concludes his extremely able
paper with the declaration that the fiscal system
u Tie country must be altered, inasmuch as de-
ishsiVe expenditures viii have 20 be largely in
creased and the burdens carried for a long
period He argues that direct taxation has al
ready been carried beyond all reasonable and
safe limits. and eyneeds what ought 10 be paid
" portion Of the community for the protec-
con OF the whole. He asserts that the country