CRITICISM.

Feilding Star, Volume XII, Issue 2957, 31 May 1916, Page 4

CRITICISM.

BIUTLSH "MONFYHAGS " INDIGNANT. "POBP.FHY. DISHONEST AND MEAN."

. London.'May 20. In tbe House of Commons, discussinsi the Consolidated Fund Bill, members criticised the financing of the war by short time bills and urged a permanent loan. Sir F. Bambury declared tbe feeling of the city men was that the limit of safety, as regards tbe issue of Treasury Bills, was almost reached. Mr McKenna. Chancellor of the Exchequer, said the Government policy could well be defended, but that was impossible under the rules of debate. The Bill was reported amended. Mr McKenna. in moving the additional income of 2s on American securities, said the proposal was novel, but was necessary to provide against the adverse balance of trade with America. The export of gold and loans raised in America had proved insufficient, but the purchase of American securities operated with complete success, enabling us to pay our way and preserve a substantial balance in the T'nitnd States for the payment -of liabilities. Br ; +i«h owners 'generally had come forward jiatrioticailv, but in recent weeks the How had dwindled to a trickle. Some holders needed a spur to remind them of their duty to their country. Tho flcov already had greatly increased, but if 2s proved an insufficient spur, he would ask tbe House to raise the tax even to 20s. Sir Edward Carson: Why not act now? Mr McKenna said there were great difficulties. Sir F. Bamburv declared that the proposal was grossly unfair. They should not single out particular investments. Wo were returning to the (lavs of Isaac of York-. It was a bad precedent to use the income tax a.s a penal instrument. ilr William Rutherford said the proposal was sheer robbery. Jt was dishonest and mean. Let the Government introduce a Bill employing simple compulsion.