BRITISH WAR LOAN OVERSUBSCRIBED

Dominion, Volume 8, Issue 2313, 21 November 1914, Page 7

BRITISH WAR LOAN OVERSUBSCRIBED

CHANCELLOR'S NEW WAR TAXES CATCHING THE « ELUSIVE TEETOTALLER» ~ , ~,. London, November 19; War loan.debentures are being offered at 2s. 6d. premium. The "Financial" JNOWS - states that the 'loan ,was over-subscribed by. noon yesterday. ("Timea" and Sydney "Bun" Services,) Mr. Lloyd George, Chancellor of. the Exchequer, referring to the proposal extra taxation, said that wartiino was a timo for national sacrifice. Those unable to give their lives were anxious to do something. Hβ would be committing aa unpardonable blunder unless he took the earliest opportunity to enable the people to contribute towards the carrying on of a war involving the honour and life of their country. "Besides the beer duty," he said, "I am devoting attention to the elusive teetotaller, who is as difficult to catch as was the Jimden; but I think I have got him by taxing tea. Britain drinks more tea than any other country, except Australia and New Zealand. It js unnecessary to appeal for patriotio 6upport for the war loan. There will be no more loose, malevolent talk about the decay and downfall of the British Empire. Tho victory, will surpass even the great achievements of the past. '• DIBEOE TAX' ON> WAGES SUGGESTED. (Reo. November 21, 1.10 a.m.) ■" . London, 'November 20. The Ho.use of Commons has adopted resolutions embodying Mr. Lloyd George's proposals for financing the war. Mr. Arthur Henderson (Labour) suggested that indirect taxation should, be swept away, and replaced by a direct tax on wages, which could be collected from employers. He maintained that the experience of the working of the Insurance Act showed that the difficulties in the wax of collection .were nob insuperable. . ' ■ .(Reo. November 21, 0.35 a.m.) ' London, November 20. It is estimated that between five hundred and seven hundred million has already been tenderedfforr r the war loan. The offices are; heavy applicants. . . ' '