recorded at the Mart in 1910, alleged that building land had become almost unsaleable, and argued that the scheme had been the direct cause of a large rise in rents as building was no longer keeping pace with the requirements of the population.
The necessity for dealing rapidly with the Revenue Bill did not, however, give much opportunity in the House of Commons for fully considering the many questions involved, though, even after working on a strict time limit, it was not until the end of March that the Bill was finally disposed of. The royal assent was given on the 31st of that month, and thus, on the very last day of the year, full legislative sanction was obtained to its financial requirements.
For two consecutive years a general election had taken place in the course of the progress of the budget, and two Acts of Parliament--the Finance Act, 1910, and the Revenue Act, 1911--had been required to dispose of the budget for 1910-11.
THE statement of revenue and expenditure laid before the House by the Chancellor of the Exchequer when opening the budget, shewed a realized expenditure for the past year of £171,996,000--less by £1,238,000 than the estimate, in spite of supplementary estimates amounting to £895,000 for civil service (old age pensions)--and receipts amounting to £203,851,000. From this total, arrears of the previous year to make up the realized deficit of 1909-10, viz. £26,248,000,