COST OF WAR TO DATE

Dominion, Volume 10, Issue 3102, 5 June 1917, Page 6

COST OF WAR TO DATE

' Sir,—Tho information given in your issue of .Ijine 2 is appreciated, but the position is not made clear. 4;22,075,23S was gijen in your issue of May 31 as "New Zealand's war expenditure to the end of the financial year." It is now slated this amount represents "only loan moneys," and that "certain items ,ol expenditure within New Zealand under other accounts (expenses, interest, sinking funds) are paid out of revenue. But pensions and interest we shall always have with us: they are recurring charges resulting from the war, and are not expenditure on the. war, aud if you can publish specific replies to the following questions you will elucidate to what extent wo are paying up the. capital that is being expended on the war. 1 What is the total capital expenditure on the war to date March 31 (pensions and interest not included)? 2. (a) Out of revenue what proportion of this capital expenditure has been provided? . (l>) Out of revenue what amount nas been set aside as a sinking fund ou the war loans raised?—l am, etc., AiNO-TJ. [The' answers to tho questions aro as follow. — 1. je22.oTs.fi3S. ■ 2. (a) Nil. \ ■ , , (b) This ((uestion cannot be answered except by the Finance Minister, and he will give the information in the Financial Statci'esnt. It may bo pointed out, however, "tjiat sinking fund on war loans is at the rate of 1 per cent, per annum, and it is provided out of revenue. I