Friday, February 8, 1889

Fair Trade

Location: London, Middlesex

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Fair-Trade (Newspaper) - February 8, 1889, London, Middlesex Regis'ierkd i-ok] A Weekly Jcvnial Dcuoied to Heme Trade a7id Industry. [Tkansmission Abroad. Vol. IV-No. 174. LONDON, FRIDAY, FEBRUARY 8, 1889. Price One Penny. THE FINANCIER'S DREAM. "' That the Chancellor of the Exchequer will in the near future have to cope with a demand for a vastly increased expenditure (or tlic "services �" is certain! Already Mr. Goschcn has fore-shadowed thetoo apparent truth, that, after having his budget of last year spoi.led by the extra costs of the new Local Government Act, he cannot look forward to any large surplus for the current year. And it needs ' , ' not Lord ]3rassey's warnings or Lord Charles Beres-ford's dismal assurances to tell us that the requirements of our navy, arid the necessity of being prepared' to protect our food supph'es "by sea, may create special, estimates foi- which large provision must be found. 'How,, then, and In, what- . direction arc such supplies to bo obtained ? A speaker at the" Central Chamber of Agriculture on Tuesday pointed out with great force that_, had the shilling regis--tration duty on wheat been retained, and the amounts so raised "been laid aside-to meet such exceptional call,. . wo. might to-day h.ave had some �ii\. niJllions in hand, without reckoning the, ac- . . cumulations of compound interest on the_^7OO,c0o or 8oo,ooa, � whicli would have been annually obtained from such source. In effect, all the; signs of the time point to increased rather than diminished taxation, and how to raise " it is the problem that is, alr<fady puzzling the heads of our financiers, and of our governing permanent officials, as well as of the members of the Government. / The Chancellor of the Exchequer, however, can be at no time a:t a loss for suggestions ; his real difficulty Iseing rather an embarrassment, of choice. The usual recourse of an extra penny or two for income tax will scarcely meet the occasions looming in the distance. Something very much more drastic will be called for, and the question of direct or indirect taxation will have to be met and solved. A certain section of the, community are eager to make realized property, more; especially that. in which the "unearned increment" in our large towns plays so important a part, bear a very large portion of the new burdens which the needs of national safety are certain to impose. Others, whomvve may style the "have nots," are naturally anxious to make the "haves " pay a very much larger proportion of their means than do those with smaller incomes. The advocates of taxing town ground-rents exceptionally, and of the imposition of a graduated, income tax, are in no small minority, and it will not be surprising to; find a Ghancelioi; of the Exchequer willing to bow in this direction to the current of popular opinion. The general feeling of the present House of Commons would be no doubt against such proposals, but there are currents now growing stronger and stronger which point to some irresistible overflow THE BUDGET OF THE FUTURE; or, How to Find the Money. of agitation in this direction, if other means arc not found equally handy, if not handier, for the purpose. But the advocates of such views arc for the most part so-called Free Traders, though that fact docs not in any way interfere with their projects fdr imposing internal restrictions on the acquisition of wealth or property. They say there must, be more taxation, but look for it solely in the direction, of additional restraint on those hovie. It seems difficult to understand that this should be the case,-or that people should not ,rather, if restraint or restriction ,.of any . Icind' be needed, look in the direction of taxation less felt at home. , The smalt duty of , is. per/quarter on. wheat, remitted twenty years ago by Mr. Lowe, is a case in point. In.any event, such a , charge would never have been felt consumers any 'more than the city dues uj^on corn coming into the port of London are felt in Mark Lane, and still less-by the bread-eaters in the metropolitan area. It was simp])' a, and. distinct frdhi any taint of. .: jirotection, and In, all i.)ro-Ijability would Iravc been, wholly paid by tliosc wiio have enjoyed the run of our markets. It; .would not have caused any further expense for collection.than, is already incurred to prepare the statistics of our' imports. I'a'cn had the shilling been is. 6tt. or 5,\\, the. el'fcct, as far ,as consumers arc'conccrned,vvould have been, absolutely inappreciable, whilst a greatly improved revenue' would have resulted. And as .. with this illustration, so. also - with, -the" moderate, taxation for revenue needs on other competing iin-ports. We submit, in short, that as a mere matter of revenue, such a mode of meeting the further demands that hang over our heads is infinitely the wiser, and' that by listetu'ng to the prayers for fair play from the agriculturists, and the demand of the artizans for their labour to be protected from untaxed and therefore unfair competition from abroad, a Chancellor of the; Exchequer may more easily, as well as more efficiently, obtain what he wants. 'According to Lord Cross, there are in India 13 millions of acres under cotton cultivation, and about 90 mills engaged in the cotton trade. The cotton grown in India is mostly used there, for nothing like half of it last year. Or the year before, came to this country. India is a growing market, and the Government of the day is using its best endeavours to better it, and there is every chance of markets being opened in Thibet. The growth of importations into India is most remarkable. Better navigation and a superior railway system is, however, needed.