THE SURTAX.
Confronted with a demand from the Socialists to declare his views on the policy of a Surtax, Mr. Snowden has, I observe, approved the principle of the tax, but, at the same time, very wisely has qualified his approval with the condition that such a tax must be applied to debt redemption, and further, that, instead of a political party declaring in advance a given financial policy, much must be left to the discretion of the Chancellor of the Exchequer for the time being, having regard to all the surrounding circumstances. On the whole, Mr. Snowden may be commended for some discretion in his observations, a discretion doubtless begotten by a remembrance of the responsibilities of office. Nevertheless, it is not surprising to find that his followers are already placing a very wide interpretation on the employment of the proceeds of a Surtax. They accept the idea of debt redemption, but only as a means for enabling the State to spend a larger amount each year on what is euphemistically described as Social Outlays.
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