On Monday Mr. Austen Chamberlain unfolded his second Budget. Ho earned high praise from both side of the House for the lucidity of his exposition of the figures, and Liberals at all events have had very little fault to find with h proposals, which they admit to be economically sound. It is a common place Budget. Mr. Austen Chamberlai owing principally to the saving tobe effected on the navy had an estimated surplus in the coming year of about 2} millions. eon more than sufficient Exchequer took into consideration the undoubted fact that our credit is decil ing owing to the fact that we are still yearly increasing our load of national debt, and he devoted " mi Sinking Fond. That disposed of the chance of reducing the income tax, and Mr. Austen contented himself by taking off the extra twopence a pound which he ton last year. It looked a little Mr. Chamberlain pire relies on the tea and sugar duties for the compensation which he is to give us for hi bread tax, and if the son goes on this there will be nothing for the father to remit. Still, even the " whole-hoggers" admit that tea, on which alone taxation has actually been increased since the war ended, has the first claim tu relief. Of course the income taxpayer grumbles as he has fair ground for doing, for a shilling income-tax in peace-time is unexampled. But the only remedy seems to be to reduce expenditure.
Text read from the printed page and cleaned; old type leaves the occasional error.