Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1902-04-18
ENORMOUS FIGURES.
They Are Included in Britain's FL
Onancial Budget.
A Great Deficit Is shown-Proposed
Tax on wheat and F1our-Cost
of War for Three Years
Is 25,17O,OOO.

London, April 16.-The exigencies OF
the Boer war have compelled the Brit
ish government to propose tax on
grain and -four. Not since 1869 has
tax been laid on the bread of Brit
ish workingman. The budget for the
fiscal year 1902-03 was presented in the
house of commons late Monday after
noon by the chancellor of the eX-
chequer, Sir Michael HicksBeach. 1t
proposes the following new taxes:
New Taxes Proposed.
Six cents on corn, wheat and other
grain.
Ten cents on flour and meal.
Two cent tax on dividend warrants.
Two cents added to stamp on checks.
Two cents per five dollars added to
income tax.
On the other hand the duty on sugar
stands as it is, and no increase is pro-
posed in the taxes on wine, beer, to-
bacco and tea. The export tax on coal.
imposed year ago, is left untouched.
wnr and the Balance sheet.
The effect of the Boer war on the
national balance sheet is shown by
the following figures, taken from the
budget:
The national debt now stands at
a747,SO6,OOO ($3, $780, 100000 nearly
four times as large as the national
debt of the United States, less cash
in the treasury.
The British national debt increased
during the last fiscal year c 5s,0O0,O0o
(S290, ,00O,0OO).
The cost of the war in South Af-
rica and in China for the three years
so far has been C 165, 900, ,O34, 900 $685.
17O.0oO).
Sir Michael Hicks-Beach estimates
that the ordinary expenditures of
the British government for the COM
ing fiscal year will be 120, $4,000
(S645, 795, ,OOO). To this sum he adds
war charges aggregating 45,45O,OO0
(S227, ,250,0OO).
This brings the total estimated eX-
penditure up to e174,6O9,00O (Ss73,-
045.000), or e12,993,OOO ($64, ,965, ,OOO)
less than for the last fiscal year.
Deficit of 1920, ,62O, 900.
On the present basis the revenues
would yield C 47,7s5,000 ($73s,925, ,OO0),
which, deducted from the estimated
expenditures of 100000 (SS73,-
045,000), will leave n deficit of geo.
$4,000 (S134, ,OOW. To this deficit
Sir Michael added the sum of e1s,-
100000 ($92, ,5OO,000) to cover the cost
of bringing home the army from
South Africa, for gratuities to tire
troops, for the maintenance of the
South African constabulary and the
cost of the international sugar con-
ference. This brings the total def
icit up to C e45, 324, 900 ($226, ,620,O00).
1t is to meet this deficit that Sir
Michael HicksBeach proposes the
new taxation. In addition he pro-
poses to suspend the sinking fund
and to make new loan of c 80, ,OOO,-
600 (S16o,o0O,0OO).
Has Bearing Upon Peace Question.
1t is learned upon excellent author
ity that the principal provision of
the budget, namely, the treasury
loan of e32,000,000, upon which Sir
Michael Hicks-Beach was remarkably
reticent, has serious bearing upon
the peace question. There appears to
be very strong belief in the cabinet
that, owing to the expected early ter
mination of the war, the G 100000
will never be needed. When that Sec
tion of the budget gets to the COM
mittee stage, the peace negotiations
probably will have reached such
shape that Sir Michael Hicks Beach
will be able to announce diminution
of the estimate. In any case, this
loan probably will be called up in
small installments only. The failure
to explain this important point is
taken in the house of commons to in
dicate that the government has
strong hopes of speedy issue of the
negotiations now progressing at Pre-
toria between the Boer leaders, al
though it wishes to impress the world
in general and the Beers in particu-
lar with it's ability and determina-
tion to push the war to n finish
should the British terms of peace be
refused.
Praises Bocr yalor.
Sir Michael Hlcks-Beach is seldom
dramatic, but when he referred to
the governments intention to re-
stock the Boer as well as the Colonial
farms, his voice rose to an eloquent
pitch. His gesture, as he spoke in
praise of the valor of the Beers and
expressed his hopes for subsequent
friendship between Briton and Boer,
took the house with him, and the
cheers, especially from the opposi-
tion, prevented the speaker from con-
tinuing his speech for some mo-
ments. During this pause the cham
cellor of the exchequer turned to-
wards Mr.. Chamberlain, the colonial
secretary, who sat pale and motion
less, palpably none too pleased, at
this official recantation of his "uncon-
ditional surrender" formula.