The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-20

Under the malign influence of the
Chamberlain Rhodes coterie of polti-
clans and financial adventures, Eng
land was coached into an enterprise the
object of which was to extinguish the
two little South African Republics.
largely for the benefit of the chartered
African company whose Leading spirits
hoped, through the Suppression of the
Transvaal autonomous State, to add it
TO the corporate possession of Rhodesia.
The Introduction Of the annual budget
by the Chancellor of the Exchequer in
the House of Commons on Thursday
dispelled any illusions British tax
payers may have entertained concern
ing the pay of the piper for music fur
nished for the dance.
Sir Michael Hicks Beach had very
unpleasant duty TO perform in present.
ing to Parliament the evidence of Brit
ish faulty in practically risking the
power and integrity of the Empire in
the South African enterprise, and in
piling up a debt which from present in
dications will be burden which each
succeeding generation win find it in
creasingly difficult to bear. For, al
though 1t was plainly the purpose of
the Finance Minister TO put the best
face possible upon a bad matter. Sir
Michael could not help admitting that
British Industrial and commercial in
terests had suffered 'in the year 1900.
and especially in the last six months"
There was, he said, an increase in for
eign trade, but II was unfortunately in
value and not in quantity. This, he
explained, was due to the increased cost
OF coal and some other commodities,
and could only be considered as de-
pressing to the prosperity of railways
steamship owners, and other heavy
consumers of raw material.
The deficit for last year was placed
at $2es, 035, 900, and the estimated deficit
for 1e0l-1sO2 at S276, 735, 600. To cover
this and provide for contingent ex-
penses, the Chancellor of the Exchequer
proposed a loan of three hundred mil
lion dollars, an increase of two pence
in the pound in the income tax a tax
OF two pence per hundred weight on
sugar and an export duty of twenty
named device for raising revenue is not
such a bad idea, considered as a meas
ure of domestic protection. The out
flow of coal from the United Kingdom,
due to maritime and nearby CONT
mental demands, has been, and, in spite
of the new imposition, for a long time
viii continue to be enormous. AS the
British coal field shows indubitable
signs of approaching exhaustion, the
conservation of what is left Of the re-
source would appear to be a national
necessity; and yet the colliery owners
are not pleased with the idea of hav-
ing their market affected by the ex-
port tax, as 1t certainly will be, and
much to their disadvantage. The coal
operators Of Cardiff have already taken
measures 10 protest to the Government,
and il is only fair TO say that their
demand that the war tariff shall not
apply to contracts for future delivery
entered into prior to the action of Par
lament is commercially a reasonable
one. For example, one colllery has a
years contract to supply the North
German Lloyd Steamship Company.
but clause in the agreement termi-
mates 1t In the event Of the imposition
Of an export tax by the Government
The income tax and that on sugar are
strongly antagonized in Ireland, and TO
a great extent in England. Some of
the English papers are speaking Bit
terly Of the policy which has brought
the nation under such a load of debt.
The London Daily News" says: There