The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1915-10-13
SECRETS OF NEW
TAX BUDGET OUT
All Glasses in England Affected by
Latest Plan for Raising Money to
Garry on War.

LONDON, Sept 30 Correspondence |
of The Associated Press) The secrets of
the new budget are out and the general
opinion is that it is fair and reaches the
pockets of those best able to pay as well
Jas those who have hitherto not been di-
rectly affected In the latter category are
to be found the small-wage earners who
will now pay their cent or two through the
increased tax on tea, cocoa and tobacco,
while the artisan who is piling up in
! creased income by reason Of overtime on
war contracts and the small farmer who
will be brought into line with other bust
ness people regarding income tax.
| There has already been the usual cutlery
| from cer,ain trades hit or likely to be hit
| by the new taxes and several Populations
are likely to keep the chancellor of the eX-
chequer busy with their complaints for a
/ time. The abolition of half-penny postage
caused considerable dismay in the picture
postcard trade and newspapers and pub
fishers are also up in arms at the prospects
of double postage bills for daily and week
| ly papers as well as periodicals and maya
zines.
In the tea trade it is expected that con
sumption Will be on rather smaller scale
and already the quality in tea shops is said
ito be reduced. The sugar tax caused a
great cutlery from consumers in the suburbs
and provinces, as retailers put up the price
Immediately the budget tax was announced
and many and bitter were the remarks
fred at unfortunate managers of various
retail stores. One of the surprises is the
tax on hats which viii affect principally
ladies' millinery imported from Paris,
men $ hats being made up almost wholly
from materials imported
The tax on petrol Is likely to decrease
the earning capacity of taxicabs whose
fares are regulated by the home Office and
may cause a revision in fares of the various
NOTORIOUS companies
AS far as the stock exchange is con.
: cerned gratitude was expressed that the
In"' aase was not greater, but it is at the
, she time recognized that investment
bt.. ness which is at low ebb at present
will probably decrease, especially in those
commercial undertakings which wer,
bought in anticipation of increased divi
dends but which will not be subject t.
: special war tax on profits
The new method proposed by the chan
cellor of the eXchcquer for deducting in
come tax from the interest paid by bank
ers on current and deposit account is ;
minor matter when compared with tn
larger interests involved in the budget
but, according to a banker writing in TIN
/, financial papers, it creates difficulties
: Broadly speaking current accounts do no
e carry interest in London while they do II
n many provincial districts; but even in Lon
n don there are exceptions to this rule nota
d bly, IN the case of accounts of foreign bank
:, on which interest Is usually allowed. they
y IN their turn, reciprocating on amount
left with them The withdrawal of bal
: anees maintained in London might and Ga
e 1t is possible that they amount to man.
e milhons) probably would adversely affec
T the exchanges. 1t will therefore be mat
e ter for serious regret if the new regIla
r Itions should detrimentally affect the cor
i ditions under which the balances in que,
L ton are held in this country Such
II result would be another blow at the 81
s lpremacy of London IN finance
II The same banker sees in the new tax O
the collection thereof a serious increas
&c in work for both inland revenue author
r, ties and the already depleted staff of tn
e banks