South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-05-15
Other Editors Than Ours
CANADA's NEW BUDGET.
christian Science Monitor. }

is characteristic feature British parliamentary
institutions tina. every fiscal year preceded by
Finance Minister'S budget In that financial statement
shown the receipts and expenditure the prior
fiscal period, whilst estimates submitted
ceipts and expenditures for the coming year In the
case of Great Britain. take example, the chan
cellor of the exchequer. who submits to parliament
the budget Is responsible for the entire expenditure
both in the departments of other ministers and in his
own. II is therefore his duty to harmonic the est-
mates the ministers, may find it
necessary to curtai of the appropriations
Quested by OF his colleagues In the United States.
the contrary the budget is practically prepared in
the house representatives At the opening each
session OF the secretary of the sub
mits book estimates expenditure be made for
the coming fiscal year He transmits the estimates
made by the several cabinet officers without revision
and these estimates become the basis upon which the
several appropriation bills prepared by the
mittees OF the house of representatives Thus the work
of preparing the United States budget is decentrazed
and it is possible that the adjustment Of expenditures to
income which results altogether satisfactory. It
is very likely, however that there yet remains to be dis
covered the budget which would doubtless cal
cuate the revenue and expenditure to such nicely
to bring about exact balance But precision TO this
degree is practically impossible with revenue
system Of such elasticity permit of the ready
adjustment of income expenditure.
Turning TO the Canadian budget which the acting
minister of finance the Hon A. X. MaClean. has just
submitted to parliament at Ottawa, the figures them
selves are eloquent or the enormous sacrlhce Whch
Canada is prepared to make, and has made in shou-
dering her share of the burdens of the These
financial burdens indeed stupendous for rela-
lively small population Although the net national
debt has already nearly reached and a quarter
billion dollars. the dominion is about face fiscal
expenditure for the year of $9S00O 900
" half of which amount is toward expendi-
To this. she has estimated IN
prospect of only $270OOO, 600 the being derived
and the advances of Great Britain supper.
of the Canadian troops But the Hon. A. X Maclean
points out the future Canada we'll the fate of
civilization and democratic institutions will depend
upon the result of this war and price is high
TO pay for victory The price that Canada will pay
pressed cold figures during the coming period
will be more than one million dollars day. But her
people cheerfully and resoutely meeting this
which we'll distributed all the people Of the
dominion The country has stfened up the income tax
TO take more of the top off excess profits.
While the tax system has been rendered more nearly
coniscaory in the Of people with big incomes it
is adjusted that probably with large families
will result OF exemptions, Totally escape the
sessment
whole. Canada justihabIy congratulate
herself the remarkably favorable condition Of her
finances Although she has had expend the war,
up date, a close to the billion mark she has
had the satisfaction OF seeing her steadily
increase precise value of economical changes
and improvements which she has experienced be
accurately gagged without possession Of the details
which make up the total OF these factors, however
Canada be sure: Her trade has considerably ex-
banded during the her income tax has had the
incidental Of strengthening her of national
solidarity and there time when the ma
teraI prosperity OF the people greater than
today.