WAR EXPENDITURE

Dominion, Volume 11, Issue 270, 3 August 1918, Page 7

WAR EXPENDITURE

BRITAIN'S RECORD CREDIT VOTE . THE ALLIES' INDEBTEDNESS TO AMERICA . . (Ike. August 2, 7.20 p.m.) London, August J. In the House of Conimons Jlr. Bonar Law, in moving tlio voto of credit for' .£700,001),000, said that this largo amount was not due to an increase in the lain of expenditure, but was simply dictated by Hie convenience of Parliament. The Allies now owed the United States AH,402,0110,000, compared with ,£1,332,000,000 at the euduf the last financial year, while the Dominions owed ,the United Slates ,£208,500,00(1, compared with JClfii/000.000 last year. Itussia owed her .-M8,050,000, Franco . ,£402,000,0u0, Italy Jtillil,ooo,ooo, and the other Allies 'jtl 10,000,000. Air. Bonar v Law emphasised the value of this assistance, which unlil America came into tho war was as vital as the British Navy. He could not ■ prniso too highly what the DomiiH ions had done iu the war. The irrecoverable expenditure for 104 days had teen .£547,000,000, or .£331,000 daily below the estimate. The recoverable, expendituie during the same period was ,6176,500,000, which exceeded the estimate by .£307,000 daily— lieutcr. VOTE OF CREDIT PASSED UNANIMOUSLY. ! (Hoc. August 3, 1.15 a.m.) London, August 2. In the House of Commons the vote of credit was passed unaniniously.-Keuter.