NEWS OF THE WEEK.
THE Budget is a great relief—relief not in material shape to the hard-pressed paYer of Income Tax, but to the feelings of people who had feared that there might be such a Budget as would kill credit and impede our slowly recovering trade. One pleasing feature indeed of Mr. Snowden's remarkably able speech was his appre- ciation of the necessity and the value of credit. His language in this matter was welcome indeed as coming from an economist who used to talk about the expro- priation of all capital. From beginning to end of the Budget there is no proposal for new taxation and the :rumour that Super Tax would be increased and would fall upon lower incomes and that the Death Duties were also to be increased proved to he without foundation. All the remissions of taxation will certainly be a help to trade, though, as we have explained in our first 'leading article, it would have been easy to help trade 'very much further than has been done.
