New-York tribune., 1906-05-02
THE BRTqTgH BUDGET.

Mr. Asouith has begun we'll. The budget has
long been regarded as one of the chief tests not
only of the ability of the Chancellor Of tbs Ex-
chanuer hut also of the efficiency of the whole
government. 1t was his skill in budget making
which laid the foundation of Mr.. GladStones
fame. and which gave a large share of It's pres
tiee TO the party of which he was the leader
There is no feature of party policy which is
looked forward to with more curiosity and inter-
est ON the accession of a new ministry than the
management of the national finances. So while
there has been much curiosity TO see how the
Liberal government will deal with Ireland, with
the schools and with the labor uniOns fore
most place in thoughtful and practical regard
has been given to the budget. That curiosity mas
now been, at least for the present, satsned IN
a generally gratifying manner.
For Mr.. Asquith has done better than ne was
expected TO do. It was assumed that he would
be able to figure out handsome surplus, and
therefore to announce some reductions of taxa
ton, but it was not supposed these would be as
great as they now appear There was notion
that his reduction Of taxation might be confined
TO abolition Of the duty on exported coal. Per-
haps we might say it was feared such would be
the case It was recognized that that duty
should be abolished as as possible, partly
because it was burdensOme to rich ana point
icaIly influential industry, and partly because 1t
w0s at variance with the traditional fiscal doc
trines of the Liberal party. But it was also
recognized that it's abolition would not in the
least benefit the masses of the people, but might
actually be burden to them by raising the price
of coal in the domestic market. 1t was, there
fore, earnestly desired-though with not much
hope Of fulflment-that it would be found possi-
BILE to reduce some tax which bore upon the
whole people. That, happily. Mr.. Asquith has
been able to do. He has taken two cents from
the tea tax and five cents from the stripped to-
baccO tax, thus opening the way for reduction
Of the cost to consumers Of two of the most gen.
orally used articles. There can be no question
of the popularity Of such measure, even though
there is coupled with it no reduction OF the In
come tax.
It is an auspicious beginning for the new fiscal
administration, but it is only beginning. We
have said that curiosity is satisfied and graf
ifed for the present. For it is generally recog-
nized that the present Is merely an experimental
or rather a tentative budget In response to the
NOnconfOrmist and secularist demand 1t was long
ago decided that the Education bill should be
the magnum opus of the present session. and
with so important, so complicated and so in
tensely controversial measure on hand and
with so strong second as the Labor Unions bill
pressing close after it, there was seen to be no
opportunity for budget which should aim at
general reorganization OF national nnance. Such
a measure must be postponed to next year. The
present budget takes advantage of the prosperous
condition in which the late Conservative govern
ment left the country. and essays only such
changes as that state of affairs makes easily pos
sible. year hence will come the time for a
revisSn Of fiscal affairs according to advanced
Liberal or Radical principles, and the general
plan Of such revision may perhaps in a measure
be forecast In the appointment Of special COM
mittee to consider and report upon that favor1te
scheme Of Radical and Socialist financiers. a
graduated income tax. For the present, we re-
peat, Mr.. AsQuith has done we'll year hence
we shall hope to see him do at least equally well
In a much more extended operation.