FINANCE AND THE WAR.

Gisborne Times, Volume XLV, Issue 3985, 19 July 1915, Page 5

FINANCE AND THE WAR.

THE NECESSITY FOR PRIVATE THRIFT. FRESH TAXATION URGED. GERMANY SAID TO BE ALREADY BANKRUPT. MEETING OF BRITISH FINANCIERS. (Received July 18. 5.5 p.m.) LONDON, July 18. A representative meeting of financiers and 'business men in the city recommended increased thrift and now taxation on all classes of the people. Mr. Harold Cox said that before the war was over Britain would have to borrow two thousand millions. Our annual expenditure hereafter would bo at least .0130,000 over the peace standard. , ,_ Lord St. Aldwyu (presiding) said private extravagance was visible among all classes. A deputation is to wait on the Premier.

Mr. J. M. Robertson (Middieshoroug’h) said Germany had been bankrupt for six months. It wots impossible to overrate the Tmiuicial side of tho struggle. He did not believe the war would last as long as - some military expert's predicted, because Germany could not endure financially. ,Slie was spending 140 millions sterling a. month. It' was our business to wear •down the enemy. He did not believe the nation’s power to lend money was half exploited. Mr Herbert Samuel announced that subscriptions to the War Loan through the Post Office, apart from the vouchers, totalled 24 millions, an increase of 9 millions since July 10. Every care was being taken at the Front to economise by renewing equipment. There had been waste, but tin l War Office was remedying this. In Sir John French’s view this was a war of machinery. Our soldiers were easily superior to the Germans, man for man, but they had to cope with artillery and munitions and an enormous German mechanical organisation.

BANKRUPT GERMANY.

AMERICAN FINANCIAL VIEW

(Received Julv IS, U.oo p.m.) NEW' YORK, July 18

The “Wall Street Journal” says it is possible the war will In* over in October. Germany was beaten in the first rush, when she failed to capture Paris and she is now not merely •beaten, but bankrupt. All her gold isconcentrated at the Refills Bank, where, it has the merest parade Or value, while the paper mark in another six months will rank little above skin plaster as far as tho world’s trade is concerned. AUSTRALIA DAY FUND. A SPLENDID TOTAL. (Received Julv 19. 1.20 a.m.) SYDNEY. July 18. Tho Australia Dav Fund totals £70,000. THROUGH ENEMY EYES. OFFICIAL GERMAN REPORT. PARIS, July 16-To-day’s Berlin communique states: The French attack in West Argonne failed. In the north German Landwehr inflicted bloody losses on tlie enemy, taking prisoner 462: \\ <• have captured since tlie 20th 106 officers and 7009 men in tho Argonne. Our troops erds.sed the Wimiawa. north of Polowajany, going easterly. Wo have made further progress, and have been victorious in fighting smith-west oi Kiln a. south of ITasnysz. AUSTRIAN REPORT. (Received July 18. 5.5 p.m.) AMSTERDAM, July IS. An Austrian official message says: We captured 12 officers and .1800 men and three: machine guns north wan! ol the Dneister, and repulsed several Italian battalions near Rutfreddo, northward of Cortiiiudamperzo inflicting serious losses. BRITAIN’S WOMEN WORKERS. DEMONSTRATION IN LONDON. SPEECH BY MR, LLOYD GEORGE. (Received’July 18, 7.15 p.m.) LONDON, Julv 1.8. Heavy rain detracted from the women’s demonstrations. There was a. procession’a mile long in 125 sections, each headed,- by banners. .Among the inscriptions were: “Men must fight and women must work,” “We are. not slackers. We mean to save our country,” “To keep the Kaiser out we demand war service for all.” Mr. Lloyd George, in an address, said about 50,000 women were already working in the munition factories. Jr was ol question of getting the men and women to work, together and help the. country through the worst crisis ever experienced. The: first tiling was to get an adequate supply of machines andi tools. The Government. was assuming control of all machine and tool-making establishments. Women must give: the whole of their time to' tho work, and they would receive the same piece rates as men. Tho Government would control the factories and sec that there was no sweated labor. Women could help to victory. Without them victory would tarry, and a victory which tarried meant a victory whose footprints were footprints of blood.

GENERAL WAR NEWS.

BELGIAN TREASURES SAVER,

(Received July 18, 5.5 'wrap AMSTERDAM, July IS

Three Belgian officers went to Yprex during two German bombard rjients and reselled some celebrated paintings from St. Marian’s Chuifcb and the Ciotli Hall, and removed them to Franco for safety. Athens- reports that resultless fighting is proceeding'in, Gallipoli, both attacks and ■ counter-attacks being equally repulsed on either side. . Mr Arthur Henderson, speaking atthe 'Wesleyan Conference, predicted that the war would last another year. Ernest Blythe and L. Mellows, who have Been engaged in organising the Irish volunteers in various parts, have been ordered to be opatriated. '1 lmy are to be allowed, to select a place of residence, which will require themilitary authorities’ approval and are not to leave the district without'permission. • > Both refuse to leave Ireland, and declare that no charge Has been forinnTatcd against them. The Pope has written to the Emperor Franz Josef exhorting him to respect the international laws of humanity and spare towKs containing priceless, works of religious art. During the capture of Monte Nero, a Sicilian soldier, named -Dimarco, lassoed and captured an Austrian major-general. The King has decorated Diinarcus Avith a gold medal.