The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1903-04-27
JOHN BULLS GREAT
BIG BUDGET.
Richie Figures, on an Estimated
Revenue Of $773,75O,OOO,
Surplus of $54, 100000.
National Debt Is About
$4,000, 900, 900.

London, April 23.--The budget which
mons today showed an estimated expendi-
ture for 19oS-o4 of $l79,170,oo0. The chan
~elor of the exchequer. Mr.. Ritchie. fixed
national debt charge at $155, 900, 600, Of
which S31, 100000 is available for the sink
Ing fund. The estimated revenue on the
existing basis of taxation is $77S, 100000.
giving an available surplus of $5i,0 0,09o-
Mr.. Rtchie's proposals included the fol
loving:
The abolition of the duty on grain. The
taxes on sugar and coal are unchanged
Four pence is taken off the income tax.
The duty on tea, which the trade expect
ed would be reduced. is not changed.
Mr.. Richie opened with the statement
that whereas his predecessors had to inn
pose fresh taxation, it was his task to
remit burdens He thought there was
nothing in the monetary situation to ere
ate alarm. Money had necessarily been
very scarce and very dear, as i'll add
ion TO the government demands there had
been many other calls on the money mar
ket. ANY further demands on account Of
The Transvaal. however. would be wholly
for reproductive works and would have
the fun guarantee of the British govern
ment
Enumerating the increases of the past
years trade the chancellor expressed the
opinion that the chief lesson 10 be learned
thcrefrom was that capital and labor
should endeavor to come more closely to-
gether. 50 as to strengthen their power OF
competing with foreign countries.
Total Expenditures.
Proceeding. Nh. Ritchie said the total
he. ctnt 10
from every source was 81, G05, $4,000. He
estimated the cost of the wars i'll South
Africa and China of the last four years
AT 81 0S5. 900 600 Of which $340,000000 had
been betrayed by the revenue. The sum
of S745Oc00o0 was charged to the capt.
tai account The latter would be reduc-
ID to $3.50 00G 900 by the Transvaat repay
ment and the Chinese indemnity.
Including the war debt, the national in
debtedness now reached the enormous
Total Of s.. 991 $4,000. The chancellor. how
eyer. saw no reason for Apprehension in
me fall in consols Both the high water
and low water marks had been abnormal,
and i'm views of the large sums the coun-
nv had been forced TO spend the govern
ment might think itself fortunate that
the effect was no greater.
Turning TO the expenditure for l99@-0l,
the chancellor estimated that ii would
amount TO $7l9.I70,ND0, and Sal0 he pro-
rosed 10 fix the annual national debt
charge at $l35. 000. of which $5l. 600 is
available for the sinking fund. This
tnount would rapidly increase as repay
,nantS were received from the TranSNaa!
,ntn four or tive years hence 1t would
reach $3.50 900. the largest amount. both
absolutely and proportionately, eyer
Tie chancellor viewed with great con-
Germ the increase in the army expenditure
and hoped great reductions would be pos
eible soon. ON the other hand, the pos
session of a strong navy was not mat
TER of national pride hut OF lille or ded:n.
IA preserve strong navy he would
.rudce no cost. Tho naval preparations
we're no menace to- any foreign power. 80
icng as other fleets grew. the Bfitish meet
must grow. But there was indication that
some of Great BTitain'S neighDors wished
n call halt in their expenditure for
aruaments II this WAS the case. Great
Britain was FULLY ready to follow SUIT.
In this lnecti0n the chancellor referred
% The improved relations between Great
Britain and France and 10 the approach
ing visit of King Edward to Paris.
Raids on Exchequer.
After a reference to the raids made on
ali sides on the eXchequer. including the
demands for the payment Of the members
OF the house of commons and for old age
pensions. the chancellor estimated the rev
enue tor 1g03-6i on the existing basis Of
taxation a $113. $50. coo. giving an available
s1lrplus Of $54,0S0 000. and proceeded, say
inc that more than half the war taxation
had fallen on the income taxpayers VINO,
therefore. had the first claim Tor con-
SideratlOn.
Chicago News: Teacher-liow IS the
earths surface divided?
fsriollt puNil-i3E tHrLnQiidkeS.