_Tuesday, April 4th._--When introducing a Budget designed to raise a revenue of seventy or eighty millions, Mr. GLADSTONE was wont to speak for four or five hours. Mr. McKENNA, confronted with the task of raising over five hundred millions, polished off the job in exactly seventy-five minutes. Mr. GLADSTONE used to consider it necessary to prepare the way for each new impost by an elaborate argument. That was all very well in peace-time. But we are at war, when more than ever time is money, and so Mr. McKENNA was content to rely upon the imperative formula of the gentlemen of the road, "Stand and deliver." * * * * * [Illustration: A STUDY IN COMPARATIVE PHYSIOGNOMY. _A Peace Budget._ _A War Budget._ MR. GLADSTONE. MR. McKENNA.] * * * * * For a moment, it is true, he reverted to the old traditions of Budget-night. After observing that there was no parallel in history to the willingness to be taxed which had been displayed by the British people, he declared that it would be a mistake to drive this spirit of public sacrifice too hard. The difficulty which many people had in maintaining a standard of life suitable to their condition was described in such moving terms as to convince some of Mr. McKENNA's more ingenuous hearers that the income-tax was not going to be raised after all. They were quickly disillusionised. The rich will have to contribute (with super-tax) close on half their incomes; the comparatively well-to-do a fourth; even the class to whose special hardships the CHANCELLOR had just made such pathetic allusion will have to pay an additional sixpence in the pound. If in the circumstances some of them feel inclined to echo _Sir Peter Teazle_'s remark to _Joseph_, "Oh, damn your sentiment," I think they may be excused. That, however, was Mr. McKENNA's only lapse. The rest of his speech was ruthlessly and refreshingly practical. The millions were ticked off as rapidly, and almost as mechanically, as the two-pences in the other taxis. Five millions from cinemas, horse-races, and other amusements, three from railway tickets, seven from sugar, two from mineral waters, another two from coffee and cocoa (even the great Liberal drink cannot escape under a Cocoalition), and nearly a million from motor vehicles. Forty-five years ago Mr. LOWE proposed to extract "_ex luce lucellum_" by putting a tax of a half-penny a box upon matches, and was duly punished for his pun. When the matchmakers of the East-end (quite as dangerous in their way as those of the West-end) marched in procession to the House of Commons, the Government bowed before the storm. Undeterred by their fate, Mr. McKENNA now proposes to put a tax of 4_d._ on every thousand matches, and expects to get two millions out of it. But it must not be forgotten that there are substitutes for matches; and I should not be surprised if Mr. McKENNA himself has to put up with a spill.