The daily morning journal and courier., 1900-03-06
POSITION OF ROBERTS ARMY
(Continued from First Page.)

| II
 adhered to that opinion but, he was bound to say, that the events of the last five months and the claims which I would undoubtedly be made by the | loyal colonists of Natal for compensa- l tion for losses sustained at the hands , of the Boers, and the enormous increase in expenditure since he last spoke had made him feel that the capacity of the | Transyaal to bear the cost of the war was less important factor, though it was still an important factor, than he estimated in October last.
 From the aboundng revenue of the year G5,500000 surplus was available towards the war expenditures bearing remarkable testimony to the extraordi- nary industrial activity and commercial prosperity of 1899, which was, he hoped, one of a long series of prosperous years. The improvement was due to the steady and substantial progress of business and not to the war, which had in some respects initiated against trade. The l increase in foreignA trade, both in inn ports and exports, was greater than the previous year. There had been re- markable increase in the receipts from the death duties, totalling G17,471,0O0, of which e2,271000 was from the estates of millionaires, including f900,00O from the estate of one man, foreigner, who lived on fifteen shillings day in a West End London club. That one per- son, he continued, however, unwillingly had contributed to the exchequer more than the cost of an ironclad.
 The foreigner referred to is the late George Smith, the pioneer banker of Chicago who died October [, 1899, in | his rooms at the Reform club, London Explaining the proposed loan, Sir Mi- 1 chael Hicks-B Beach said he believed 1t would be mistake to try to raise it by new issue of consols as it would ere ate a permanent debt which the nation l could not pay at par until 1923. lie thought it would be better that part of the E35000,000 be reserved, say an amount not exceeding e5,o00,000, for further issue of treasury bills The rest he proposed to raise by bond or stocks He had reason to believe that it was possible to place such an issue on very reasonable terms, and he hoped to do so | in way, not to ensure profit for few great and wealthy persons, but to bring l enable them to come to the assistance | of the country.
 1 He desired a resolution passed ena- bling him to borrow in the manner de- scribed without fettering him as to the precise terms of the issue. He did not propose at present to make any special provision to pay off this loan. It would be premature to do so before they knew the total liabilities, especially before they knew how much could properly be exacted from the Transvaal. He add ed: "We have ample means to meet what might fall on ourselves. Our sol l diers in the field have shown that they are equal to their forefathers and our great colonies have eagerly taxed them- selves with men and money for the em- pire Should those who are sitting at l home show themselves to be financial towards? We leave the matter in the hands of the house, being assured they will begrudge no effort and shrink from ] no sacrifice which the honor of the country and duty to the empire de- mand."
 The opposition leader, Sir Henry mpbell-Bannerman, said the opposi- D passage of the necessary resolutions. He complimented Sir Michael Hicks Beach on the straight forward, states
 manike and discreet measures" pro- posed to deal with the financial diffi- culties and said he thought the govern ment would be met in no grinding spir- it in prosecuting it's financial proposi- tions. Very properly, he added, con- siderable portion of the burden would fall on the shoulders of the income tax payers
 Timothy Hea1y, Irish nationalist, fol- lower Sir Henry Campbell-Bannerman He protested against Ireland having to pay anything towards the war expen- ses, asserting that not penny had been expended in Ireland. Germany, United States and Brazil had a share, except Ireland The tax on whiskey, he fur ther asserted, was an attempt to bleed Ireland.
 'Let the diamond stock brokers" con- tinued MT. Healy, "those who are mak- ing money out of the war, pay the cost Let the colonies share the burden--Can- ada and Australia, who are so keen for war; and who have made kudos for it."
 Sir William Vernon -Harcourt, 1iber- al, complimented the chancellor of the excheauer on the soundness of his financial principles, but said the coun- try would like to know how the govern- ment intended to insure that the Trans vaal would ultimately pay large part of the cost of the war. He added: ! "It is said we are fighting for free dom and liberty so that then, there is a prospect of millionaries like MT Belt and MT. Rhodes having the taxation of the Transvaal at their own disposal Of course, the government would not
 think of expressing by centralized taxation from England, and While Eng land is being taxed for the war it would be interesting to know how the gov ernment intends to realize on the Ivague, misty expectation of the gentle men who will be putting millions into
 their pockets as result of the war. How are these men to be made to pay? If it is going to be free and independent
 taxation I do not believe the imperial
 government will get it.
 The house finally adopted the govern ment budget proposals.