New-York tribune., 1901-04-19
THE BRITISH BUDGET.
Continued from first page.

.ion but direct taxpayers must bear their share
NJ the burden l propose that twopence shall
he added 10 the income tax, making one shilling
and twopence in the pound. The extra tWopence
viii realize f3SOO,00O. There will be no addi-
.son 10 the beer, wine, tea, spirits or tohacco
duties am not disposed to impose customs
dyty on manufactured imported goods as sup
cested by Sir Howard Vincent
The average consumption of sugar is fifty-six
pounds head. Sugar is taxed in every other
community in Europe. and is taxed in the United
states. In this country taxes remained on sugar
long after the institution of free trade What
propose is not protective duty but an ade-
quate public necessity has arisen for some duty
OF which the laboring classes should bear fair
share. The effect OF my proposals on the price
Of sugar Is doubtful, the price of sugar is
governed by the bounty system The great bul,
of the imports of sugar comes from bounty Civ
ing countries The bounty system is that a
country giving bounty encourages production
within its borders. and at the same time does its
best 10 restrict consumption by its own neonIe
by every possible means. The result is that
there Is an enormous surplus which has to find
a foreign market, and this country under the
present circumstances, is the only market
Therefore, II is quite conceivable-unless of
course, the bounty giving countries either re-
duce the area of their sugar production or lower
their own duties on sugar for the benefit of
their own population, both of which actions
would mean the abolition of the bounty SYSTEM
that the result of the new tax. although at first
the price might rise and consumption conse-
quently be reduced would be that there would
be such an inflow into this country of hounty
fed sugar unable to go elsewhere that the price
might be brought down. Again. do not believe
the Cuiy VIII ln1ure manufacturers using sugar
10 anything like the extent feared or course
provision WIZ De made for imposing a duty on
manulactufeo articles from foreign countries
coming INTO competition with the home article
ana ior allowing manufacturers drawback on
atucIes a. Mhich they export allow f240, 900 for
the payment of these drawbacks
have endeavored TO reconcile the conaic+iro
interests. Nothing must be done 10 nrotact +hs
h BRUSH IeIier 10 the disadvantage of the Brit
lsh consumer But, on the other hand fair nIav
must be given to the British refiner as COM
pared with his Continental rival The refiner oe
beet sugar must not be favored as against the
reiner OF cane sugar. vice versa 7 nronoSa
a duty on relneo sugar of four shiilings and two
pence a hundred weight. 4 halfpennv a nonpd
would be four shillings and eightpenca 60 -
HidFSaii oL slHpence Is left TO cover the customs
handling etc. There is therefore no reason
why tax of four shillngs and twopence should
increase the retail price more than halfpenny
a pound. '
The graduated scale of taxation will be as fol-
lows; Renned sugar, which is polarized at 9S
anc upward, and which represents two-thirds of
the total imports, would pay the full tax This
VIII dlInlnlsh TO a minimum of two shillings ner
nGInoreawelght on raw sugar polarized at IS
1ills scale Is only tentative, and l am perfectly
WlAlAS 10 listen to criticism and the benefit of
experience and better knowledge
Moiasses, in which included the grocery
syrups consumed largely by the poor nav two
shlilngs per hundredweight. and glucose of
which great deal has been heard lately. and
Whlch Is used IN The manufacture of Jams and
aerated waters, viii have to bear a tax of ONE
shilling and eishtpence. I anticipate a Weld of
1ooo'co from this tax The West Indies will
not be exempt.
My next proposal is a novel one, unknown in
TINS country for forty-five years. 1t is an ex-
port duty OF a shilling ton on coal In aiming
10 secure revenue from coal am not sacrificing
trade. The imposition of a shilling which is
infinitely less than the fluctuations in price will
90 no real injury 10 the coal trade even sup
posing that the export of coal is checked I
am not sure that even that result will be an
evil From this source I expect e., 100000 MAX
frAp
ton.
My final balance sheet viii be: From taxa
ton, a revenue Of f122. .200.0sO0; from non-taxa-
ton, FL 2loo5ooO total Of fl43, 80 600 1 pro-
pose to reduce the expenditure by again sus-
shows a deficit of f39. 707. .GcO to which ransf
be added Il, 100000 for the fresh debt have TO
borrow / must ask the House to give me bor-
rowing powers considerably in excess of this
deficit Of f41 100000. In order to finance the
.exchequer L ask power to borrow f60O0oO0O
by means Of consols.
= AS to obtaining contributions from the Trans
vaai. Sir David Barbours reports are not en-
couraging at present I think the House will
see the war has brought the country to the
verge Of ruin. Opposition cheers greeted this
remarkD This can no longer be considered.
cost Of the Crinean War. There f67 100000
Of the unfunded debt redeemable within the
next ten years. I have tried to put before the
House true account of our finances for the
present and immediate future. In time
Chancellor Of the Exchequer has had so difficult
task. and none has had a more indulg-nt
House with the view of gaining transient popu-
larity. but / have endeavored to establish a
principle OF contribution by the whole com
munity 10 the burdens Of the State.
Sir Michael Hicks Beach concluded at 6:44
p. m, amid loud applause having spoken two
hours and twenty-siX minutes.
OPPOSITION LEADERS COMMENTS.
Sir William vernon-Harcourt complimented
the Chancellor Of the Excheqoer on the ability
he had shown declaring that his speech was
characterized by honesty, a quality very much
lacking in the conduct of the war. in telling the
House and the country the truth in regard 70
the position.
THE Budget" continued Sir William Vernon
Harcourt was but chapter in the disastrous
incidents of the war 1t was proposed to borrow
altogether f127 100000 more four times as
much as was borrowed for the Crimean War
I'VE are living in age Of newspaper
finance" said Sir William, land OF increased ex-
penditures We cannot go on without involving
this country in financial ruin The fashionapie
doctrine of the day is conscrption and protec-
ton; does anybody believe that this increase OF
expenditure is not TO go on?"
Sir William argued that England was not as
strong she was at the close OF the
French war and declared. in conclusion that 1t
was the most disastrous statement that the
Exchequer had ever made.
THE FORTHCOMING LOAN.
Mr.. Balfour the Government leader, indi-
rectly announced the forthcoming loan, saying
he hoped to introduce resolution on the sub
5ect tonight if possible.
On the resolution to authorize the war loans