24 JANUARY 1931, Page 36

THE BURDEN OF TAXATION.

At the recent annual meeting of Michael Nairn and Green- wich, the chairman, in referring to the obscurity of the general outlook, spoke in no uncertain terms with regard to the ill-effects of the growth in unproductive National Expenditure and the increased burden of taxation. Given a policy of enlightened retrenchment, he saw no reason for pessimism regarding the future of the country, which seems, m other words, to be a view confirmatory of the point made by the Chairman of Barclays Bank when he laid stress upon economy in the National Expenditure as the first

essential for an improved outlook. A. W. K.