Finance—Public and Private
'The Coming Budget
AT the time of the introduction of the Budget a twelve- month ago, there was a rather general impression that Mr. Churchill was- collecting his forces to produce a year later a spectacular Budget on the eve of the election. In some quarters the view was taken that there had been an. under-eatimating of revenue and an -oyer- eitimating of expenditure which might prOduce in the year which is now closing such a surplus as to give the Chancellor an opportunity for affording some relief to the long-suffering taxpayer = before the Government dissolved.
. If, however, such hopes were entertained, they Must have long since faded away, Sand at the-. present time there is very little disposition to regard the coming Budget as a particularly . strong hull factor, either as regards the Stock -Markets or- as regards the elections,' though it must be said at once that for disappointments in this. direction -the causes have, for the most part, been entirely beyOnd the con troi-of the Government.
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