Sir William Harcourt's contribution to the debate on Tuesday was
far less intereaking, being conceived on conventional Oppo- sition lines. In his opinion, the policy of expansion was the source Of all Our financial evils. If the taxpayer really approved of this policy, why had net the Government the courage to ask him to pay for it ? They were trying to delude him, by sus- pending the Sinking Fund, into thinking that their policy could be pursued cheaply. After an interesting, and, we believe, entirely sincere, panegyric of Lord Salisbury which did Sir William HarcOurt much credit, he declared that the increase of indirect taxation was unjust to the poor, and asserted that there were still kinds of property which re- mained untaxed. We cannot deal at length with the very able speech with which Mr. Goschen wound up the debate and_showed the gross exaggerations indulged in by those who talk as if the Sinking Fund had been compromised. In the end, the second reading of the Finance Bill was carried by a majority of 125 (280 to 155). We can only say that we adhere to our opinion that granted (which we certainly do grant) that a great increase of expenditure was necessary on the Navy, it was wise to pay off rather less Debt rather than to put on more new taxes.
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