TREND AND TONE OF DEBATES 6l 



was, I believe, the first Financial Statement pre- 

 sented in India. It covered just one sheet of 

 paper and the figures in support seven. 



The revenue he estimated at 38 millions as 

 against 74 now, and the expenditure at 42 as 

 against 73^ now. 



The total imports and exports amounted to 

 60 million as against 200 of this year. 



There is a curious parallelism between his speech 

 and mine. He had to deal with a deficit, he had 

 to convey a grave warning (which was long un- 

 heeded) of the precarious nature of our opium 

 revenue, and he had to suggest additional taxa- 

 tion. 



That is precisely what I have had to do this 

 Session. 



The impression I have received from the general 

 trend and tone of the debates is that Indian 

 members realise to the full the responsibility 

 they have acquired, and that they will work the 

 reform with credit to themselves and advantage 

 to their country. 



I have impressed on the Indian members that 

 it is rather by the painstaking examination of 

 specific items of expenditure than by framing 

 abstract resolutions on organic changes in financial 

 policy that economy can best be attained. Also 

 that advantageous services can be more readily 

 provided by means of savings effected than by 

 appeals for additional funds, which the finances 

 of the country cannot produce without casting 

 additional burdens on the people. 



They do not in the least resent my attitude 

 and seem rather to welcome a professorial address. 



