Monday was the last day of the financial year, but Monday being a national holiday, the last day for Exchequer receipts and payments was Saturday. It is a misfortune for Sir Michael Hicks-Beach that the past year included two Easter Mondays, and as the average receipt of revenue on a working day are about half a million, this means a serious loss. However, the revenue totalled the enormous sum of upwards of £152,700,000. Deducting nearly ten millions which are paid over to local taxation accountyp the sum paid into. the Excheyuer was £142,997,999. Considering that most of the items which go to make up this sum are in round fizuros, it seems a pity that Sir Michael could' not have added the extra £2,001 and mide £143,000,000. It is, however, satisfactory to know that the sum received exceeds the estimate by just about half-a-million, so that evidently the nation has not been seriously impoverished by the war. To estimate a revenue of a hundred and fifty millions and be only half-a-million out looks to be very good finance; but when we come to examine the details the result is nob quite so flattering. Customs and Income Tax have each produced about a million more than Sir Michael expected, while Excise has fallen below his estimate
Text read from the printed page and cleaned; old type leaves the occasional error.