New-York tribune., 1902-03-19
FINANCES OF BRITAIN.
INCREASED TAXATION THOUGHT PROB.
ABLE.
TOBACCO MAY COME UNDER SCHEDULE
KINGS DINNER-SALES AT
CHRTSTIE'S.
Copyright 1902: BY The Tribune Association

Copyright 1902: BY The Tribune Association
Especial The Tribune by French Cahle.l
London. March 19--The financial policy OF the
government escapes observation, while the mill
tary administration is being discussed con-
stantly. If inefectively. Experts like Sir Rob
ert Gifen agree that the war had been financed
badly from beginning to end and that op
portunity has been wasted for a readjustment
Of direct ana Indirect taxation. and for the de-
velopment Of commercial intercourse between
the colonies and the mother country a prefer
ential basis. No new departure is expected. The
Budget speech estimates of the expenditures as
printed disclose a reduction Of about f26 900 900
from those OF the current year. and the reve-
nue. receipts the basis of existing schedules
are set down as f. 100000 in excess in the pres
ent year. Experts assume that Sir Michael
Hicks Beach will have to meet deficit of about
f25 600, 900. and that he Will borrow the bulk
and provide for the balance by increased taxa
ton. Sugar duties under the Brussels agree
ment Will not be raised: coal export duties will
remain stationary, and taxation wine and
spirits viii not he increased. The income from
the taxation tobacco will be exposed TO fresh
exactions. Tobacco offers an aluring tempta-
ton, owing TO the brisk competition between
British and American trusts for the control of
the home market and a consequent reduction in
prices
Sir Michael Hicks Beach will surprise the ex-
perts if he reverts 10 any fresh source OF reve-
nue. or widens the area of indirect taxation
ConsoIs were depressed yesterday in antcipa-
ton of the loan
The Kings proposal TO signalize his coronation
by giving a dinner to half million Of the poor
OF London. is received with widespread interest.
The undertaking is a tremendous one, and
twenty-eight metropolitan mayors have been IN
vited TO assist in carrying II through. Five
years ago the Queen Princess of Wales, was
Instrumental in organizing similar big dinner.
II was given in fifty-six different districts to
about three hundred and ten thousand per-
sons in celebration Of Queen Victoria's Diamond
Jubilee and mainly owed its success TO Sir
Thomas Iiptons gift Of f25Oo0.
The debate in the House Of Commons last
night was prolific in personal incidents. but did
not throw any fresh light on the much discussed
topic Of War Office contracts. Lord Stanley. the
financial secretary of the War Office. was fierce
~ indignant at the allegation that there had
been corruption. but admitted that there might
have been mistakes. Mr. Asquiths speech was
stirring denunciation Of the governments in
efficiency. He had the sympathy Of the House
in his appeal for a prompt inquiry, and If the
motion had not been a vote OF censure on the
ministry IL would have been carried with prac-
teal unanimity. AS It was, however, the Tories
obeyed the commands Of the whips and the Lib
eral proposal was rejected by large majority
ChIistle's sales unusually brisk and varied
this season A large collection Of engravings
and = ezzotints in colors brought high prices
yesteIua,. The dealers apparently loading
up fo- tile coronation trade attendance. The
sale o' porcelains and decorative furniture was
also euca but prices were less remarkable
CEirI. HGale mahogany was more eagerly sought
thau antique oak. gilt bronze Louis Quinze
cand=Iebrura. formed & scroll shaped
ana nr;ed for thirteen electric lights. brought.
& guineas. and a sedan chair Of the
period, painted with figures and landscapes, was
chesp Is guiueaF. Dealers prices for
tiqEe oak and mahogany are exceptionally high
IN London owing TO the demand for antique
furniture. l. y. z.