The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1916-04-07
BRITAIN IS
PREPARING To
CONTINUE WAR
McKENNA, CHANCELLOR OF EH'
CHEQUEP. ASSUMES WAR HiL-
CONTINUE DURING THE WHOLE
FINANCIAL YEAR.

problem of financing for another year
| a war costing Great Britain 5,0)0OOO
pounds yearly, the chancellor of the
excheuuer, Reginald McKenna, was
| met at the outset by two favorable
circumstances, namely, that owing 10
the expansive power of British trade
the revenue for the year exceeded the
estimated revenue by S2OO9,0OO
pounds, while the years expenditure
has been 31OOO,OOO pounds belo" the
estimate.
BY imposing new taxes on amuse-
ments, railway tickets, matches and
mineral waters and raising number
of the old taxes, including those on
excess war profits, incomes, sugar.
cocoa, coffee and motor cars, the
chancellor estimates that he will be
able to raise about 65,0O0,0O0 pounds,
which is nearly double what many
persons believed he could rais2 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, the chancellor
made an interesting comparison with
German finances, declaring that,
while Great Britain was raising more
than 3OO.OOO.OOO pounds annually by
taxation, the secretary of the German
imperial treasury, DR.. Helfferich, was
1 Announcing a doubtful increase OF
l "a. 100000 pounds.
| Wants Burdens Distributed.
~ Explaining his financial methods
/ Mr.. McKenna indicated his desire t@
avoid anything requiring new machin,
I cry for its collection. which would
nrove costly and wasteful. Equally,
| he desired to distribute the neces'
sary burdens fairly over the whole
community. He said he was aware
of no historical parallel in Other
countries for the willingness display
| ed by the people of Great Britain to
submit cheerfully to the tax gather
. ers' exactions, but it would be mis-
take, he added to drive this spirit
of public sacrifice too hard.
=, For instance, he said, he had re-
:, sisted suggestions for an excessive
increase in the tax on excess war
profit because he considered this
would have the effect of restricting
. trading enterprise. He reminded the
. house that firms carrying a large
business accepted great risks and re-
sponsibilities and needed to build up
good reserves of capital, because al
ter the war they would be called
upon to meet strong competition
u abroad.
General Tariff Not Considered.
On the question of the general tar
if. which has been the subject OF
- earnest speculation in politica! cir
cles, Mr.. McKenna put aside anV
idea that the government had yet
been converted to that means fGr
raising revenues or breaking enemy
competition. On this point he said;
THE house will have noticed that
I have not discussed the question as
to whether fiscal duties might now
| properly be used for controlling and
directing trade in a way advantage
GUS to ourselves and injurious to our
enemies. | and my colleagues arc
| satisfied that any ar;empt in tnis
direction would be met by ins1per
able preliminary difficulties in ind'na
the necessary machinery to give eli
feet to such proposals"
On the whole, the budget was wei
recei. ed. both in the house anI by
\ the public. The debate followi3G the
chnnccllors speech was confined tC
m:ror members. The criticisms
/ llairly concerned obicctiors to the
tax on matches and railway tickets
| he latter on the ground thG, it wonIC
drive the travelling public abroad.
Irish Nationalist Protests.
William O'Brien, nationalist, tol
the city Of Cork, strongly protested
that the new proposals were piline
burdens on Ireland which she could
never stand.
The most unpopular OF the taxes i.
the tax on matches, which will about
double their cost. It is recalled tha'
the last attempt to place tax or
I matches in 1874 by the liberal chan
[ ceHor. Robert Lowe, led TO such ser
} ious riots in London that the atteme
was abandoned.
4 In opening his speech, Nr. Nc
/ Kenna said it was assumed that The
| war would last during the whole O
I the financial year.
Rebels Quit Swatow, China.