New-York tribune., 1901-05-19
FAMOUS BUDGETS.
HOW FORMER BRITISH MINISTER'S HAVE
RAISED REVENUES.
From The London Mail.

From The London Mail
The deficit this year a record ons % II e is bd Lucky
than IT was a century
day. With less than one-sixth the money and only
one-t Yelfth the trade, Pitt managed to extract 40
less than seventy millions year. His Budget or
1904 among other things put lS shlliings pence
shiIIings a bushel-that is. thirty times it's value
over fourteen hundred different articles OF import
taxed. AS for income tax, all incomes
ego paid. and people earning goo year had to pay
When the war with France was over the English
people naturally imagined that they would get
war taxes were not taken off until 1926, and even
6ef & n the Ro edoon in 5he i'm
1t was not till 1912 that Peel first had the courage
Backed by the pressure caused by dear wheat ana
the Irish famine he swept away in four successive
budgets the duties nearly six hundred different
articles and reduced the duty on $50 other articles
To make up for these reductions of duties Peel
reimposed the income tax, which had been in abey-
The year ls49 saw the wheat tax abolished all but
a registration duty of shilling quarter. This
Mr. Gladstones first Budget in 1853 is one Of the
most important of the century. He got rid of the
duced in 1852 II 900 He cut OF the iniqnItous
advertisement me mt tax which had brought in no less
Is Cd pound. One hundred and twenty-three
realized $4,000 were declared duty free and go 900
reduction was made on l53 others To balance this
he extended the income tax. which was then 5d. In
In 1855 the Crimean War drove the income tax up
10 Is: and then to Is. i'd under Sir George Corne
cial affairs in 1859. and Immediately reduced the
list of 4ls articles which still paid duty TO forty
eight. He lost money by doing As
ample OF the impetus given to trade, the importa-
tion of French wines jumped i27 per cent in year.
In 1861 the same Chancellor was at work at his
pet project of reducing the income tax then Cd in
the pound fl50 and upward and Cd. between
fl00 and fl50 lie got II down to I'D. by 1863.
That year 1858 is well remembered for Mr. Glad
stones attempt to make corporations pay income
tax He made the mistake OF including charities In
his suggestion There such uproar
ly turned the government out. Yet I'm 1885 Mr..
Childers renewed the proposal. only leaving out
charities, and carried II through.
Ii was not until 1858 Mr. Disraeli being at the
head of affairs. that there was a deficit; In 1869
Mr.. Lowe created much I'll feeling by making land
and income tax payable In a lump at the beginning
of the year. But when $3.50 600 surplus rewarded
him, and another penny came off the income tax.
the outcTy ceased.
Another proposal OF Mr.. loves in 1872 TO tax
matches 10 help pay for the reorganization Of the
army. Parliament would not hear of IL. and the
idea had TO be given
To Sir Stafford Northcote belongs the honor of
having in 1874 reduced the income it's lowest
ACKNOWLEDGEMENTS in the pound. He also
off the duty.
In 1884 our expenditure. for the first time since
ISIS exceeded fa0. .oo0. .0lo. II the Russian
scare that cost us no less than f1l,ocoyo. Sir