30 OCTOBER 1926, Page 3

This is the last week during which British book- makers

and their patrons will contribute nothing to the State, beyond Income Tax on net profits, from an enormous and highly-organized business. We take some credit to ourselves for the prospect that this profit- able business, utterly unproductive of any real wealth, will be brought by the courage of the Chancellor of the Exchequer to make its contribution. This contribu- tion will be substantial in the aggregate, though so negligible in its incidence on each bet that it will not destroy the amusement that so many people find in betting. The details of the machinery are now known, and it is fairly plain that the bookmaker will not suffer much financially, though at first he will find his task irksome as a collector or conduit of the duty.