Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1916-04-05
MCKENNA IS
ABLETO RAISE
$325,ooo,oo0
British Chancellor's Es-
innate of Present Ca
pacity for Financing
War for Another Year
COMPARES WITH
GERMAN POSITION


costing Great Britain 100000 pounds; dai
Is. the chancellor of the eXchequer, Reg.
maid Mckenna was met at the outse,
by two favorable circumstances namely
that owing to the expansive power OF
British trade the revenue for the year
exceeded the estimated revenue by 32,C00,
90 pounds, while the years expenditure
has been 3l.oOo00O pounds below the es.
innate.
Estimated Revenue
BY imposing new taxes on amusements
railway tickets, matches and mineral wa
ters, and raising a number of the old
taxes. including those on excess wal
profits, incomes. sugar, cocoa coffee and
motor cars. the chancellor estimated that
he will be able to raise about 81, coo, OO(
pounds. 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 today explain.
ing the greatest budget in the worlds
history. the chancellor made an inter.
esting comparison with German finance
declaring that while Great Britain was
raising more than 300,O00,0oO pounds an.
nually by taxation, the secretary of the
German imperial treasury. DIR. Heiger.
ich, was against a double increase of "a
100000 pounds.
Avoids New Machinery
Explaining his financial methods,
Mr.. McKenna indicated his desire to
avoid anything requiring new ma
chinery for its collection, which would
prove costly and wasteful. Equally, he
desired TO distribute the necessary
burdens fairly over the whole COM
munity. He said he was aware of no
historical parallel il: other countries
for the willingness displayed by the
people Of Great Britain to submit
cheerfully to the tax gatherers' exact
ions but it would be mistake, he
added, to drive this spirit of public
sacrifice too hard.
For instance, he said, he had re-
sisted suggestion for an excessive in
crease IN the tax on excess war profits
because he considered this would have
the effect of restricting trading enter
prise
ON the question of the general tariff
winch has been the subject of earnest
speculation in political circles, Mr.
Mckenna put aside any idea that the
government had yet been converted to
mat 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
TO whether fiscal duties might now
properly be used for controlling and
directing trade in way advantageous
10 ourselves and injurious to our enc
mes. | and my colleagues are salts
RED that any attempt in this direc-
non would be met by insuperable pre-
urinary difficulties in finding the nee
essary machine to give effect to such
proposals."
On the whole the budget was we'll
received, both in the House and by
me public. The debate following the
cnancellor's speech was confined to
minor members.
The criticisms mainly concerned OBJ
Jeetions to the tax on matches and
railway tickets. the latter on the
kround that it would drive the travel
ing public abroad.
william O'Brien, Nationalist for the
Guy or Cork, strongly protested that
we new proposals were piling bur-
uehs on Ireland, which she could never
stand.
Inc most unpopular of the taxes is
mat on matches. which will about
"ouole their cost 1t is recalled that
we last attempt to place tax on
matches in 1874. by the Liberal chan
Vei'of, Robert Lowe. led to such seri-
o"s riots in London that the attempt
was abandoned.