Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-04-18
INCREASE OF MANY DUTIES
INCOME TAX WILL CONTRIBUTE
TO THE COST OF THE
BOER WAR.
A HEAVY GOVERNMENT LOAN
Great Interest in the Means for Meet
ing the Tremendous Burden. -
of War Cost.

London, April 1s.-3 p. m.-The excep-
tional interest taken in this years
budget statement was evidenced by the
crowded condition of the house of COM
mons when it re-assembled today. The
attendance of numbers was unusually
large, while the appearance of the gall
leries testified to the deep interest OF
the public in the fresh taxation pro-
posals required to meet the expenditure
for 1901-02, which, according TO par
liamentary paper issued this afternoon,
total G1S7,6O2, 900, inclusive of war
charges, this being an increase of e32,-
901 900 over last year.
The national balance sheet for 1900
1901, as shown by the same paper stands
as follows:
Revenue, ,e130, 3S5. 900; expenditures,
f1S3, 592, ,O0O net deficit, G47 2O7 900.
Mr.. Balfour, the government leader,
indirectly announced the forthcoming
loan, saying he hoped to introduce res
olution on the subject tonight if possi-
bic.
The budget adds Cd. to the income taS,
making it Is. 2d. 1t does not provide AN
increase in the duties on beer, wine CT
tea, spirits or tobacco.
A duty of As. I'd. per cwt. will be inl-
posed on fine sugar.
A duty of IS per cwt is imposed on
molasses. West Indian sugar is not ex-
| cepted
| A duty of Is. Sd. per cwt. is imposed on
! glucose.
| A shilling per ton duty is imposed on
| exported coal.
Ltl,,
is to pay duty gradually diminishing,
| according to each degree of polarization,
to a minimum of IS. at a polarization of
Is degrees.
The chancellor of the exchequer Sir
sounds of cheers and CONNER ccd the
budget statement. His opening state-
ment was not promising.
During the last five years" said the
chancellor, I'VE nave been invariably
able TO aonsra, llate the house in a gen.
eral inc,eas" in the prosperity of the
country, but the year jo)c, eSlecially the
six moa1hs shovel symptoms Of \
change. Gun foreign ira Il !';tihS ,llc
year was considerably Increased but III
value rather in voluml.' 1t WIS mainly
derived, the chancellor sail,s from the
high prices Of Ger; ;ain articles notably
coal which naturally must have injured
important industries, especially rail-
ways. Nevertheless the revenues for the
past year showed no signs of decrease
and the eXchequer receipts showed a
surplus of 600 over the estimates.
He was bound TO say, however, that the
excess was due to forestalment on du-
table articles. But for this his esti-
mates would have been barely realized.
Much could be said for and against
forestallment but It was an unmitigated
nuisance to financial statisticians. Tho
forestalments of 1S99-1900 amounted to
G3250000 sterling which properly be-
longed to the revenue of the last year.
The forestallment of the past year
somewhat exceeded the previous year.
He would say that the coming power
of the people. was the same but there
was no material expansion of that power
beyond what was fairly attributable to
| increase of population.
| The chancellor then proceeded to re-
! view the various items OF revenues,
| mentioning that the revenues from beer
was G4,OOO0OO sterling less than the es-
| innate.
| THAT decrease said he. lis probably
attribute BILE to the fact that very many
| beer drinkers are in South Africa and
| also to the decrease. in the spending pow
| er of the people, owing to the high price
of coal. Experience has shown that we
! have practically reached the limit in the
! profitable taxation of spirits.
| The receipts from the tea duties were
+ e14, 800, 900 sterling below those of the
preceding year but he had better expec-
tations for next year.
The prolonSati)n of war ana the abb
SERGE of buyers On the STOCK exchange
yield for stamps.