Inside: Men of the Majestic is on the cover; Sir Thomas Lipton is determined to bring the America's Cup back to Great Britain; Several photos of Shamrock II; The City Halls; 2 full page cat prints; In the streets of Paris; Holiday in Switzerland; in India; May Day centerfold; Scenes in Turkey where a revolution is expected. An artist in hoops 11 photos; Disguised artillerymen in China; 12 photos of the bluecoat school about to be demolished; Fashions    ;  and much more.

Black & White Budget was a Victorian illustrated weekly printed and published by W.J.P. Monckton in London. The first issue appeared on 14 October 1899 under the name Black & White. Thereafter it continued as Black & White Budget until 30 May 1903, after which it appeared as Black & White Illustrated Budget until 17 June 1905. There was one more issue on 24 June 1905 under the name Illustrated Budget, at which point it was discontinued. The weekly provided English readers with a comprehensive coverage of the Anglo-Boer War.