The Washington times., 1915-09-22
TnH BRITISH BUDGET

ln6 0NI 1911 0OUO6I
It IL . staggering burden that
Britain assumes in the new budget
presented to the commons yesterday
by Chancellor Of the Exchequer Nc
Kenna; burden that represents 40
per cent increase in income taxes a.
ready high, and that involves the
necessity Of imposing new customs
duties, and special taxes on war
profits. The largest incomes in
Great Britain will have to pay 81
per cent to the public revenues; and
the lowest taxable income will here
after be $3.50 instead Of $500 AZ
heretofore.
In one regard, at least, the
budget will be popular; and it may
be assumed that the government
realizes this. The tax Of profits Of
concerns holding war contracts is
hoisted to q point where as much as
80 per cent Of these profits will be
Topped off and returned to the pub
lie treasury. This will 60 far to
mollify the opposition Of labor to
conscription and other measures de-
signed to mobilize effectively the
human resources Of the country. La
Dor has beer, disposed to view with
much disaffection the huge profits
that many war contractors have
been earning, while wages have not
advanced in proportion to the cost
Of living. Feeling that the capital
istic classes were getting the profits
Of the war, and that these classes
had the most to be protected and
conserved by = national victory in
the struggle, the working people
have shown disposition to insist on
what they could regard as more
nearly q square deal. The new
budget seems to promise it to them.
The national debt Of the United
Kingdom will be raised, by the close
Of the year to about $11 .000, 900 900.
It is a load that, after tie war is
ended, will necessitate economic re-
adjustment Of a wide-reaching char
acter. Without doubt the domestic
program Of Mr.. Lloyd George, look
ing to disintegration Of great land
holdings, and to . greater equaliza-
ton Of economic conditions gener-
ally, will receive q great impetus
when, in peaceful times, the nation
has to face the problem Of making
good the waste Of the war.
It is impossible as yet to estimate
the effects Of this new budget and its
policy. on the commercial relations
Of the United States with Britain,
which is by q long way our best for
eign customer. But from the outlines
received by cable, there is little to
cause apprehension here. The policy
of keeping imports Of foodstuffs a.
cheap as possible does not seem to be
interfered with in directions that
will much affect the United States.
Britain's imports from this country
are at present almost entirely con-
fined to necessaries of life. Coffee,
tea, and the like, are to pay higher
rates; but they are not from Ameri-
ca, and the increase in their price,
with consequent reduction Of con-
sumption in England, will be most
likely to cause some reduction in
their prices here.
Whatever may be thought Of the
manner in which Britain. has met
other problems, it must be admitted
that it has faced the fearful financial
burdens with a stout heart and a
confidence that betokens purpose to
end the war in only one way-with
a victory for the allies. From this
time forward the proportion of the
load that England must carry will
be larger and larger. But England
is accustomed to that experience,