The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1901-05-01
TIGHTENING SCREWS
IN UNITED KINGDOM
Budget Speech Sobers
the House of
Commons.
STAGGERING COST OF The WAR
ENORMOUS LOSS CALCULATED
ON WELSH COAL FROM
EXPORT DUTY.
Sugar Importers Forewarned by In
quiries Make a Big Profit-Wiii
the Wedge Be Driven Into the
Free Trade Tree7

NEW YORK, April ia dispatch
to the Tribune from London says:
Mr.. Redmond's comment upon the
budget speech, Not much Mafeking
now, was. perhaps, the most judi
cious reflection which found expires
sion from a crowded house Sir
Michael Hieks-Be made a most
depressing speech, which sobered
both sides of the commons. The cost
OF the war, the magnitude of the de-
felt and the extent 10 which recourse
must be had TO borrowing powers we're
on a larger scale than had been ex-
pected and the new burdens Of tax
alton were more serious. The esti-
mate of e14S. 500 900, as the net cost
of the war would have staggered the
taxpayers even if the end of the mill
tary operations had been in sight. but
with the resources of guerrilla war
fare apparently inexhaustible there
was a general conviction in the Com
mons that it might exceed e200 ,000,-
900 before settlement could be
reached. The permanent debt, al
ready increased, would be enlarged
by e60,000,000 with a suspension OF
all arrangements for a sinking fund.
Consumers of beer, spirits, tobacco
and tea were spared further increase
of taxation because the limit Of profit
able revenue had been approached.
but ell 100000 was estimated as the
outcome of increased taxation, with
fresh taxes on incomes, sugar. mo-
lasses, glucose and exported coal
The main burdens will be Il pence
instead of shilling on incomes, the
duty on sugar. averaging half pen
ny on the pound to consumers and the
export duty on coal, which constitutes
u per cent of the export trade of the
United Kingdom
A crowded House heard this speech
with mingled feelings of dismay and
would have been better pleased If the
sugar duties had been doubled and the
two pence dropped from the income
tax. The Liberals would have been
delighted, from party point of view.
if the area of. indirect taxation had
been widened by duties on corn and
manufactured goods, so that there
COQlQ nave btCh a 6loAu oAAr VI SAS
opposition in defense of free trade.
AS it was, Sir William Harcourt was
enabled to make a strong protest
| against revival of Anticipated ex-
| port duties which would embarass the
shipping interests and also against
reputation of the tariff policies OF
Peel and Gladstone
There was general satisfaction over
the miscalculation OF large body OF
budget gamblers in tea, spirits and
tobacco. Importers had been warn
ed by Treasury inquiries respecting
sugar classification and polariscope
methods and had been allowed tC
overstock the market and make 6
half penny on every pound consumed
for the greater part of the year.
There was intense excitement In
the galleries and Hobbies, and the i'm
preston prevailed that the wedge
would be driven into the free trade
tree and that it would never come
out. but would be hammered further
in another year. On the whole. tbs
budget proposals have been fairly
well received by the newspapers. The
coal duty has. however. already caus
ed CONSERVATION among coal owner:
and shippers. The shipments from
Newport, Wales, amount to 5000, 00I
tons annually and the proposed ia,
will. it is estimated, result in a los,
TO the port of e150,000.000 a year
An organized effort will be made Il
bring pressure on the Government t,
drop the duty. but it is not likeil
TO be successful With regard to tn,
sugar duty. there is strong feelin,
that to the colonies ought to hav,
been granted a differential treatment