SOUND AND BOGUS WAR BUDGETS

Dominion, Volume 10, Issue 2939, 27 November 1916, Page 6

SOUND AND BOGUS WAR BUDGETS

HOW BRITAIN HAS BEATEN GERMANY Australian.New Zealand Cable Association. London, November 24. In an interview, Mr. ' M'Kinnon ■' Wood; speaking on tho financial posi- : tion, said that Britain had followed a. policy of openness, and Germany one largely of concealment: Herr Helfferiolrs last Budget was admittedly a ' - 'bogus Budget, in which the income and expenditure on the war was not stated. The British expenditure had been clearly published. It would probably amount, from the beginning of August, 1914, to tho end of March, .1917, to • £3,883,000,000, including the large ad-. . .vances to the Allies and the Dominions, whioh 'aro Topayable after the war. '•The nation had. reason to be proud that Britain had borne-the burden, with /the cheerfulness qnd goodwill betokening . -the stem determination _ of' tho .whole people. Since, the beginning of jtho war we bad raised in taxation £l/mmO,ooo. The Germans, on the other liana, had gambled upon tho exjiectafaon of huge indemnities from lier conquered enemies. • The success of its loans was largely duo to the paper raonsy which ' Germany had created, ffliis method could be repeated indefinitely. It was true that Germany had borrowed wholly domestically, but the British borrowings in the "United . States were very small ; and were intonded only to maintain the rate of exchange. ■ The foreign exchange reflected the judgment of the world. Regarding the financial positions of Germany and of Britain when peace came, Germany would have to face enormous difficulties, and tho German financial .writers, fully recognised this.' THE PEACE TALKERS MOVEMENT IN- UNITED STATES. ; '!iustealian-Now Zealand Cable Association. (Rec. November 26, 5.5 p.m.) ' . - New York, November 25. The league to enforce peace started a Campaign to arouse the United States. -It-has received a cablegram from M. Briand {the French Premier) stating: .-"In basing your efforts on the rights ; of,various peoples, you are on common ' ground with the countries which a.re giving their blood for jihe independence of nations." t yisoount Grey (British- Foreign Minister) cabled: "I sincerely desire to see a league of nations formed to secure-peace after this war." , ' Herr von _ Bethmann-Hollweg ■ sub- • mitted as his message the speech de- : livored by him in the Reichstag Committee on November 9 last. J PEACE AND THE EMPIRE. ; (Rec. November 26, 5.5 p.m.) . London, November 25. The "Round Table" suggests that the" basis of a peace agreement may ■ suddenly arise, when it would .be im- > -possible fully to negotiate with the ' outer Empire by cable. Therefore an' : Imperial Conference should be held be- . forehand, the Premiers laying down the !■"_ broad principles and expressing their ; desires on those matters which are their immediate concern. SUPER-ZEPPELIN LOST IN , , RECENT STORM v' Australian-New Zealand Cablo Association, .(Rec. November 26, 5.5 p.m.) ; . Amsterdam, November 25. > Travellers from Munich report that i a super-Zeppelin, during the storm on ; November 21, while on nor first voyage i from Fredrichshaven to "WilhelmL shaven, was wrecked near Mainte. There was one survivor out of a crew ! of twenty-eight. UNOFFICIAL PARADES PROHIBITED -, Australian-New Zealand Cablo Association. (Rec. November 26, 5.5 p.m.) _ November 25. ' 'An Order-in-Council prohibits' all : military drill or evolutions except by the Royal Naval and military forces ; and police. ■ It also empowers the authorities to prohibit railway excursions i and other special traffic. This Order : specifically includes Ireland. :