Evening star., 1932-01-03
BY NEGLEY FARSON.

r ONDON. Britain enters
1882 bearing load of taxation
and business burdens which
L. threaten seriously to affect even
the indomitable British char
acter. Many of those are due to the
world slump, but perhaps the most
serious is inherent in the British situa-
ton itself.
I'VE live In times fraught with
difficulties" King George replied to the
Lord Mayor of London, answering the
latters New Year message, but during
the anxious days through which we
have been passing the courage and de-
termination of all classes to restore the
fortunes of our beloved country have
filled me with admiration"
Such is true and the steadfastness
with which the British people have
withstood price raising, boarding and
imitation after being forced off the gold
standard Is a remarkable, even mirac-
ulous, manifestation of the Britons'
traditional calmness to face either
physical or moral adversely.
Back Breaking Load.
"It is in a spirit of confidence that
I send my greeting to the citizens of
London" King George continues, pray
ing that under divine guidance the
coming year may bring light and hope
and the strength of united purpose to
our lives and renewed prosperity to our
land"
But look at the back breaking load
which the Britons are bearing. First
and most staggering is the national debt
s25 500, 100000 at current exchange) =,
the largest in the world, 61a times
that of the United States If measured
on per capita basis, 10 times as large
when measured on average income.
To meet the interest on the sinking
charges of this crushing load the Brit
iSh taxpayer must raise $1,000, 900
(about s., 3,400,00O) every day in the year.
1t eats up nearly one-half of the public
revenues and actually consumes some
46 per cent of the budget after few
small self-balancing items have been
deducted.
This debt, nearly all of which was
the cost of winning the Great War, is
Briton the most heavily taxed person
in the world.
Forty per cent of the total nation
al revenue for the current year is
due from the income tax. Taking the
pound sterling at the nominal figure
of $4.86 and the average family man
with a wife and one child, man
earning $1,000 year must pay $25 if
all his income is earned, and pays more
than sos if his income is from invest
ments. A man earning $4,000 must
| pay $140 or $275, respectively. A man
earning $4,000 pays either $500 or 5000.
Surtax Charges High.
Above these are surtax charges, which
begin with incomes of S12,500 per year.
For example, married man with three
| children would have to pay $2,400 a
| year. while big business man earning,
say. $500,000 would have to give the
government more than 100000.
In addition to these are death duties,
which have completely shattered big
estates. An example of this is the death
of the late Lord Dewar, head Of the
great Scottish whisky combine. When
Lord Dewar died, in April, 1880, he left
an estate of shares valued at f2,010 900.
At the time of Lord Dewar's death the
valuation of these shares for the death
duties would have resulted in the pay
ment of death duties over f800,0 To-
| day these same shares, which have Just
been sold, realized only s1,290,00. So
Lord Dewar's heirs thereby lose further
f720,000.
The death of Bernhard Baron big
tobacco magnate, is a parallel instance.
Mr. Baron left an estate of nearly
$4,000, 900, on which death duties were
paid amounting to more than f2 200 900.