New-York tribune., 1909-01-31
TAX LEVIES NEEDED
INVESTORS LOOK ABROAD.
Prime Minister Resisting Pressure
for Dissolution of Parliament.
Especial by French cable to The tribunal

Especial by French Cable to The Tribune
I,ondcn Jan. 3o.-David Lloyd George is re-
eeiving the unsolicited assistance Of many anna
seur fnanciers in arranging the budget Finance
rather than diplomacy is now the pastime or
unemployed genius and states have been cleaned
<or cornplex studies in revenue and direct taxa
zion Ye; the Chancellor of the Exchequer HIM
self does not take anybody into his confidence
and IS content with repudiating the idea that
ne intends to frame the budget in vindictive
or retributive spirit The necessity for tresh
levies OF taxation is apparent and Increases the
feeling OF insecurity Among investors The bank
returns are more satisfactory than for several
weeks and the money market IS permanently
eased in spite OF enormous appeals for capital
from large borrowers. Yet consols are dropping,
and there is lack Of confidence which must be
attributed 10 political csases-
Alternative budgets. based upon direct anu
andiree, taxation are looming Up in the near
future and one may succeed the other within
two wears when political conditions are so un-
settled il is not strange that investors are
sending their money abroad. and that business
men are avoiding unnecessary risks ana con-
asucting their affairs with extreme prudence II
<annot bs deusted tfEt the pressure upon the
Prime Minister for the dissolution or Parma
roent this year Is increasing. This course IS
,,-ves on The ground that the Unionists are
.sb. efforts Of their confederates TO prevent the
-,o-,fnst;o- Of Lord Robert Cecil and other Free
Traders s-e bitterly resented. and that Arthur
l,pslfou-s leadership is vacillatng and uninspfr-
-Ing.
The I-uionists certainly want TO have the
elections deferred until another year. and the
liberal government may not be III advised in
dragging them against their will before the
Electorate and exhibiting them as bread takers
sn place Of land takers. This course may De
m oorted n the Chancellor OF She Exchsguer finds
isl frnprsetieasle 10 produce anything but an ur-
popular budget
There is another ground on which the earnest
Radicals urge an early appeal 10 the country.
Thst is the probs bity that the labor party,
embarrassed ty- the decision Of the Court Of
Appeals VIII be forced 10 restrict its opera
tions owing the difficulty of raising money
for election expenses With over forty members
OF Parliament 10 -e-elect. including the Miners
Federation f1eF, ans with not more than forty
other candidates. there viii be better chance
ef efIecting coalition with the labor forces If
the elections are not deferred This view is con-
frTned by the reseits of the fascr conference at
Portsmouth. While the Socialist declaration
adopted last year has been repeated. it is not
considered binding upon the labor candidates.
Opportunisfs have controlled the conference and
prevented the secession OF the trades unionsts.
The national executive. with a strong bias in
favor Of the anti-Socialst elements OF the labor
party. has been sustained. and will direct politi-
cal operations this year.
The Liberal politicians assert that better terms
can be made now with the labor leaders than
will be possible year hence, when there may
be scores of three cornered contests. and when
the Socialists viii be IN the field wherever they
car find anybody 10 put UP money for election
expenses. Fhe Prime Minister needs be a
strong statesman TO resist the pressure for dis
solution, and he is not showing signs Of weak
ness. n r