The inclusion of $70 millions as a construction reserve fund and the fact that no new loans are required to balance income with expenditure jin the new budget constitute a new jara in China's financial history.
The estimated income from customs revenue, salt revenue, consolidated tax, income tax, Tobacco and wine Xes, and mining tax exceeds that Jof the current budget. Income from uilier sources is also estimated to Yield a higher sum, including $2 inition from the new inheritance tax, Though the figures for military expenses are increased, they include [$70 million for military _appropriations for the various provinces, as well as for special subsidies to local troops. However, the Ministry of War has definitely decided to strictly enforce the new budget and refrain {from asking for additional funds the past.
Though the appropriation for loan services is higher. it is absolutely necessary for the discharge of legitimate obligations. Other increases in expenditure are necessitated by the Government's programme of The following are the figures of income and expenditure:—
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