Sir Michael Hicks-Beach enlivened his Budget by one or two
curious facts. For example, he stated that he believed the increased yield of the Tobacco-duty-033,000 over the previous year—was due to increased cigarette smoking. Cigarette smoking led to waste. It was calculated, indeed, that £1,000,000 a year was thrown into the gutter in cigar and cigarette ends. Another remarkable fact was that 1,200,000 more champagne bottles were opened last year than the year before. Sir Michael Hicks-Beach suggested that this was due either to congratulation on successful or consolation for unsuccessful operations during the boom in the Kaffir Circus. Before we leave the subject of the Budget we must note that Sir Michael Hicks-Beach proposes to alter the incidence of the Death-duties on works of art and objects of interest. They are not to be aggregated for the purposes of the duty, and so will usually pay at a lower rate than now. This will, we believe, be a popular reform. On the whole, the Budget will be well received. It is prudent and workman- like rather than sensational, and will therefore command the confidence of the country.
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