The New Finance Resolntions How stern is the purpose of
the Government is better realized now that we know the details of the new emer- gency Budget. The. Chancellor of the Exchequer, sup- ported largely by the representatives of those from whom he intends to shear most wool, introduced his Bill in Committee amid rude interruptions from his old colleagues and followers, who niust take a to share of the blame for the troubles that he has to remedy. Mr. Snowden spoke very seriously on the old subject of a nation living beyond its income and on its capital, as we have been doing, and he made the dreadful statement that " our total national and local taxation is now very near one- third of the total national income." He announced the general principle that borrowing for the year's expendi- ture, such as the Unemployment Relief and Road Funds, must stop immediately. He then proceeded to details Of figures.
