The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1912-04-03
LL0YD-GEORCE SEES
PROSPERITY COMING
CALLS TRADE CONDITIONS IN
UNITED STATES STRONG.
HOPEFUL FOR BRITAIN
Chancellor of Exchequer Says Inn
prOvement Here Will Benefit
Own Country.

London, April 3-In announcing the
British budget for the financial year
1928 yesterday David LIoyd-George,
Chancellor of the Exchequer. predict
ed a most prosperous trade outlook,
especially in the United States. He
said:
Trade throughout the world APP
pears to be in an exceptionally healthy
condition The conditions in the
United States are stronger than they
have been for years. and /nstead OF
the devastating cyclone we had a few
years ago from across the Atlantic we
are likely now to have a steady trade
wind. There is only one disturbing
factor, the Presidential election, but
do not think that is going to have a
very serious effect on the trade of the
United States. That is full of hope
for our trade here
The budget was introduced by the
Chancellor in the House of Commons
before the thinnest attendance on such
an occasion for fifteen years. The
Chancellor reported surplus of $32.
725, 900 from the year just closed,
which, he said is the largest realized
surplus on record. The loss to reve-
nue. from the coal strike has been more
than $2,OOO,0O0, so that save for the
strike the surplus would have been
$50, 900, 900.
The estimated expenditure for the
financial year 1928 amounts to 1884,
625, 900, an increase of SOS, 095, 900 over
that of the last year. This is mainly
due to the compulsory insurance act
for workmen and the acquisition OF
all the telephones in the United King
dam by the State.
From the good trade outlook the
Chancellor of the Exchequer consider
ed that 1T was safe to estimate an
expansion of most of the revenue pro-
ducing taxes. He announced there
fore that although there would be no
reduction of taxation no new taxes
will be imposed.
The revenue for the coming year he
estimated at $685., 945, 900, leaving a sur
plus of $500, 900. Referring to the
Increase of s2S,0OO,OOO in the expedi-
ture of the financial year 1912-1913 the
Chancellor said he had been disap-
pointed in his anticipation of big
reduction in naval expenditure.
The Chancellor argued his scheme OF
taxation had met the increased ex-
penditure of the nation and provided
a surplus without taxing the neces-
saries of life Or interfering with trade
Under his scheme trade had improved,
he said, and unemployment had dimin-
ished until, before the outbreak of the
coal strike, it had reached the lowest
point ever touched in the United
Kingdom.
In regard to the surplus, the Chan
cellor said he proposed to devote the
whole of it to the strengthening of the
excheouer balance, because he had to
provide for several contingencies. For
instance, the expenditure of the Ad-
miralty on the construction of war
ships in the last year had been $500.
eco less than had been expected. That
however, was only a postponement, as
the ships ordered must ultimately be
paid for Another contingency was
the possible necessity for increased
construction of warships mentioned by
Winston Spencer Churchill, First Lord
of the Admiralty, in the naval esti-
mates.