WASTE MUST STOP

Dominion, Volume 12, Issue 270, 11 August 1919, Page 5

WASTE MUST STOP

BRITAIN SPENDING TOO MUCH A GRAVE WARNING (By Telegraph-Press Association--Copyrißht (Rec. August 10, 5.5 p.m.) London, August 7. 1 Mir. Austen Chamberlain (Chancellor of the Exchequer), speaking in the House of Commons, in ,1 pessimistic review of tho financial situation, said that if the countij continued spending at its present rate, it. would, lead straight to national bankruptcy. It was essential to increase production and reduce expenditure. Tlio Budget forecast would fail to realise expectations. . Tlio expenditure •sanctioned for pensions alone amounted to half the pre-war expenditure. The. impossibility of discontinuing food control had a serious effect 011 the Budget, as he had hoped to realise seventy millions by tho snle of the Government's stocks. He doubted whether it would be possible to balance accounts without new taxation. Tho only way to deal with exchanges was to reduce the importation of luxuries and increase the exports. Waste should stop. There was nothiing in tlio position beyond the nation's power if it taokled the problem with tho same resolution as it had displayed during the war.—Ane.-N.Z. Cable Assn.

BRITISH TRADE IN JULY. (Reo. August 10, 5.5 p.m.) London, August 7. British imports for July increased by ,£44,000,704. exports by ,£21,071,024, and re-exports by 419,735,077, as compared with tho previous July.—Aus.-N.Z. Cable Assn. IMPORTS FROM AMERICA. (Rec. August 10, 5.5 p.m.) Washinnton, August 6. The Department of Commerce luas announced tlwt Britain lias granted free licenses for tho importation of 5000 American automobiles and a fixed amount of American shoes for a period of throo months—Aus.-N.Z. Gable Assn.