The Budget for the next fiscal year (1905-6) was decided on in the Cabinet Council to-day. The total of the general estimates and war expenses is roughly put at a thousand million yen. 'The Budget was curtailed by 70,000,000 yon before it was finally adopted' by the Cabinet. Increased and new taxes will be imposed to the extent of a hundred million yen. The bulk of the war expenses will be drawn from public bonds, prospects of which are. promised to be excellent in consideration of previous experiences. With regard to the proposed increase of taxation, that of the three taxes, namely, land, business and income, an increase of which has already been decided, the first will be raised to 5 per cent against 3.3 per cout now in force. The tax on silk, which was submitted to the last session of the Diet but was not approved, will this time take the form of a tax on both silk and cotton fabrics. The scope of the tax on patent medicines will also be enlarged, and will apply to "Soma-rose" and other tonics, hitherto not coming under the above category. Gonoetuing salt, two plans gees gested, namely, a consumption tax and monopoly, but, according to our contemporary, no decision seems to have as yet been arrived at. An inheritance tax will also be created.
Text read from the printed page and cleaned; old type leaves the occasional error.