4 MARCH 1916, Page 2

Look at what has happened with the richer classes, from

whom the tax-collector now takes close upon half their incomes. They have been obliged to take action which we can only describe as " heavy saving." They have no choice. Money that they once spent on extra luxuries has gone, and with it have gone servants and motor-cars, champagne and cigars—not, of course, altogether, but in great quantities. We admit that it is very much easier for the rich to cut off superfluities than for the poor, but that is not our present point. What has made the rich out down their expenses has been the absolute compulsion of high taxation.