, 1909-05-01

uOb 10 LCGb hA DAAACA 8S0SJt
also be criminal to build navies against
mythical Aotillas. therefore the government
Droposed only the necessary expenditure.
Moreover the country was faced with social
problems which are not TO be shlfked OF
postponed in order to meet naval DEMANDS
Old AGE pensions are to be increased, also
state insurance against unemployment IS to
be undertaken, beginning with q contribution
from the treasury of two hundred thousand
pounds, and the sinking fund Is to be le-
duced by three millions. The income TAX
remains unchanged on earned incomes below
three thousand pounds, but is increased to
fourteen pence above that amount,a and also on
upearned incomes. Incomes under five hun
dred pounds will receive an abatement OF ten
ponnis for each child under sixteen. In
comes of over five thousand pounds will pay
a supertax on the excess above three thou
sand pounds, which will yield two million
three hundred th0usa4d pounds. 1t IS ex-
pected the income tax increase will yield
three millions more. The maximum and
minimum death duties remain unaltered, but
an increase on the intervening scale Will
probably yield an increase OF two ant q
half millions, and q revision OF the legacy
and succession duties is expected to add one
million three hundred aud seventy thou
sand. Motor cars are to pay a tax OF from
two guineas for six horsepower to forty guI-
meas for sixty horsepower. The stamp du-
ties on real estate transactions are increased
half to, one per c~ent,on stock exchange trans
actions and bonds one per cent. There Will
also be q sliding increase upon share trans
actions. Liquor licenses will be- ten pounds
in villages and thirty five IN London, and
public houses will pay threepence IN the pound
upon all receipts from liquor, and a sliding
800 10 tho EAG ll0 -
value of the premises, which is estlmated to
produce an increase Of two million SIX hundred
thousand pounds. A general land tax OF
one halfpenny in the pound is imposed upon
the capital value of undeveloped land, and
a general valuation of land is to be made
Immediately with q future tax of twenty per
cent upon unearned Increment, due to the
enterprise of the community. Its first years
Weld is estimated at five hundred thousands.
Coal, tea, sugar and beer unchanged; but
six hundred thousand pounds more will be
obtained from spirits, and the duty
upon manufactured tobacco will be increased
o~ightponce.
Mr.. Lloyd George spoke for more than
four hours, not including a recess for his re-
lief, and closed his speech exhausted and
without the accustomed cheers.
"Sociulism, % "Confscation, are specimens
OF the eXclamaGIOnS n6aTu, dlu 81 ALSuoI4Ch
Banbury, member for the city OF London,
in a speech, described it as the maddest
budget ever introduced and including every
fad.
Tho Morning Post and Daily Mail assert
that this is the last Free Trade Budget. Tie
Standayd says it plumbers the well-to-do
to provide largesse for the proletariat and
will necessitate tariff reform. The Daily Te-
legraph characteristics it as gambling in
futures and as being more perilous than
anything ever proposed by a responsible
statesman, declares it sacrifices the empire
to partisan strategy and if it passes will
ioopardize the safety Of the existence Of the
state. The Morning Leader says defense
of the budget is unnecessary; it only needs
to be understood. The Daily News regards it
as opening an attractive vista Of social reform,
and the Daily Chronicle considers it con-
ceived along the lines Of democratic justice.
The Stock Exchange is dismayed, and fears
are expressed that business will be driven
elsewhere, eva the fotation Of Government
bonds.
France has awarded a life saving medal to
Mr., Binns, the wireless operator of the Repub-
lie.
IT, praoidon4 Castro Ia bettar He rro