New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-05
Greatest Budget in
Worlds History Be-
fore Commons.
MCkENNA ASKS
S9,127,500, 900
New Taxes To Be Imposed
Incomes Will Pay S2l7,-
100000 More.

London. April L.. Faced by the prob
lem Of financing for another year a
war costing Great Britain s5,000o0C
100000 daily. the Chancellor OF
the Exchequcr, Reginald McKenna, wa:
met at the outset by two favorable cir
cumstances, namely. that owing to the
expansive power of British trade the
revenue for the year exceeded the esti'
mated revenue by f32,OO0,OOO, while the
years expenditure has been i3l 100000
below the estimate.
BY imposing new taxes on amuse-
ments, railway tickets, matches and
mineral waters, and raising a number
Of the old taxes, including those or
excess war profits, indigo, sugar, cocoa
coffee and motor cars, the Chancellor
estimates that he will be able to raise
about f65,OOO,OO0, which is nearly
double what many persons believed he
could raise by this means.
At the close Of an able and lucid
speech in the House of Commons to-
day. explaining the greatest Budget IN
the worlds history 81 ,s25,500,000 49,,
l27,5OO, ,0OO) the Chancellor made al
interesting comparison with German
finance. lie declared that while Great
Britain was raising more than $780,
100000 annually by taxation. the Secre'
tary Of the German Imperial Treasury
DR.. Helfferich, was announcing a
doubtful increase" of s24,000,O00.
Resolutions authorizing the new
taxes and increases were formally
agreed TO.
To Distribute Burden.
Explaining his financial methods, Mr
McKenna indicated his desire to avoid
anything requiring new machinery for
it's collection which would prove costly
and wasteful. Equally he desired 70 dis
tribute the necessary burdens fairly over
the whole community. lie said he was
aware Of no historical parallel IN other
countries for the willingness displayed
DV inc people OF 'rItdI DilNd4ii ~ SUI
nit cheerfully 10 the tax gatherers' ex-
actions. but it would be a mistake, he
added, TO drive this spirit OF pubic
sacrifice too hard.
For instance, he said, he had resisted
suggestions for an excessive increase in
the tax on excess war profits, because
he considered this would have the effect
of restricting trading enterprise. he
81 .ha Unnga that carving
a large business accepted great risks
and RESPONSIBILITIES and needed TO build
up good reserves Of capital, because,
after the war, they would be called
upon 70 meet strong competition abroad.
On the question OF the general tarih.
which has been the subject OF earnest
speculation in political circles, Mr.. Nc
Kenna put aside any idea that the gov
ernment had yet been converted to that
means for raising revenue or breaking
enemy competition. On this point he
said;
"The House will have noticed that /
have not discussed the question as 20
whether fiscal duties might now prop
erlv be used for controlling and direct
ing trade in a way advantageous TO
ourselves and injurious 10 our enemies.
| and my colleagues are satisfied that
any attempt in this direction would be
met bv insuperable preliminary diff
culties in finding the necessary ma
chinery to give effect TO such pro-
posals."
Budget Well Received.
On the whole, the Budget was well
received both in the House and BY the
nublic The criticisms mainly con-
cerned objections TO the tax on matches
and railway tickets. the latter on the
ground that it would drive the travel
ling public abroad.
William O'Brien. Nationalist for the
city of Cork, strongly protested that
Continued on page o. column