In the Budget debate on Tuesday Mr. Bonar Law said
that the Budget was as good as could be expected. ' It would be wrong to insist on repaying so much debt every -year whether trade was good, or' bad. We had, in fact, paid off. £500,000,000 in the lase two years and a half. If we could now pay our way, without increasing or diminishing the debt, we -should do we'll. Our object should. be•to assist the revival of trade, which would improve our financial position far more than a mere reduction of debt. A Chancellor could not take unduly long views. Mr. Gladstone in 1553 -tried to Budget-for-seven years ahead and failed miserably. Mr. Boner Law commented favourably -on the proposal -to fund the War pensions, which- were -in truth War debt. He pointed out that-the -burden would Test heavily on us for several generations. and that-we could only bear it by reducing expenditure. "So far as human foresight could -tell, there .weuld -be no world war ;fora very long time -to come." When itoama our real strength wenkl lie in sound fmance. rather then.in,harge .areaaineata.
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