The sun., 1901-04-19
BRITISH BUDGET Big.
Expenditures For Coming Year Esti-
mated at flS7,6O2,0OO.
THE TAXATION PROPOSED.
Includes Twopcnce Additional ON
incomes and Fonr ShiliinSs TWO
Dence ON Every Hundreds
weight of Rcfincd Sugar.

London. April lS.-rhe exceptional
interest taken in this years budget
statement was evidenced by the crowd.
Ell condition of the house Of commons
when II reassembled
The members were unusually numef-
Gus, while the appearance OF the gal
leries testified to the deep interest OF
the public i'm the fresh taxation pro-
posals required TO meet the expendl-
ture for 1907 which, according 10
parliamentary paper just issued, totals
EiST ,602 900, inclusive of war charges,
this being an increase OF l32,3oi,ooo
over last year.
| The national balance sheet for l9oo-i
stands as follows
| Revenue. El3U,3S5,00 expenditure,
| C1S3. .5!,2 900; net deficit, ta,,2oI. .ooO.
The chancellor Of the eXchequer pro-
noses 10 suspend the sinking fund and
borrow f6O,Onn,nn0. The total expect
ed WELD of the new taxation is fll,ooo.-
900. of which t2loO.Oo0 will be from
coal
The budget provides for duty OF rs.
od. per hundrrdweight on refined sugar
West Indian sugar Is not excepted.
The budget adds twopence additional
to the income tax, making It Is "a.
The budget does not provide an III
crease in the duties on beer, VINE or
tea.
ON molasses Il duty of > shillings per
hundrcdweght is imposed. y duty OF
is Sd per hundretlweight is imposed
on glucose.
A shilling per ton is imposed on eX-
ported coal.
Reading Of the budget.
Great attention was paid to Sir Mi
chael Hicks-B Beach when he conmenc'
cd the budget statement. His opening
sentence was moi promising.
During the last five years. said tht
chancellor. I'VE have been invariably
able to congratulate the house on Z
general increase in the prosperity oi
the country. but the year 1900. especial
ly tile last six months, showed symp
toms Of a change. our foreign trad,
during the year considerably increased
but in value rather than in volume.
1t was mainly derived. the chancellor
said. from the high prices of certain
articles. notably coal which natural,
must have injured important indus
tries. especially railways. Nevertheless
the revenue for the past year SHOWED
no signs of decrease. and the exclleqne
receipts showed Il surplus of E2.Sto
:. 600 over the estimates. He WAS bolin'
to say. however that the excess WA
due to forestallment ON dutiable art
. cles. But for this his estimates woul
: have been barely realized. Much coul
!, be said for and against forestallmen
! but il was an unmitigated nuisance t
financial statisticians.
) The forcstalments of 1S9a-190
amounted to i3.250,oO0. which properl
belonged TO the revenue of the las
year. The forcstallment of the pas
year somewhat exceeded the previou
wear. He would say that the consun
: ing power of the people was maintain
!. cd Int there VAS no material cvdenc
:, of the expansion of that power heyon
!, what was fairly attributable to il
i crease Of population.
Sir Michael Iiicks-Rcach then pr
ceetled 10 review the various items I
revenue. mentioning tl;lt the revrn,
from beer was Ei.Ou0Wn less than II
rd estimate. "'rliat decrease" said Il
~ chancellor OF The exclleuuer. lis pro
n ably attributable To the fact that vel
- many beer drinkers are i'll South y
in rica and also To the decrease IN Il
NO spending power of the people, owing
III the high price of coal. Experience N
ly shown that we have practically rtac
IL cd the limit in the profitable taNati'
Of spirits.