is to be made to those earning, or returning themselves as earning, incomes he-tween £100 and £700, and a measure of relief is to be given to those called upon to pay death duties.
SIR WILLIAM HARCOURT, the. Liberal ex-Chancellor of the Exchequer, had very little but praise to bestow on his rival's scheme. Sir Michael has adopted and extended. his predecessor's principle of a graduated income tax, he has interfered very little with Sir William's principle of graduated death duties, and he has adopted also the Liberal principle of reducing indirect rather than direct taxation. "But the proposals will not by any means command universal approval. Most people probably would have preferred to seo a halfpenny taken off the income tax all round rather than a reduction of a duty which is not very severely felt and relief given to comparatively well-to-do income-tax payers. Sic Michnel has to confess, too, that there is an unusual amount of uncertainty with regard to
Text read from the printed page and cleaned; old type leaves the occasional error.