NEED FOR ECONOMY.

Gisborne Times, Volume XLV, Issue 3990, 24 July 1915, Page 5

NEED FOR ECONOMY.

DEPUTATION TO BRITISH PREMIER.

BUDGET PROPOSALS DISCUSSED.

(United Press Association —Cotiyr><cht.) LONDON, July 22. A deputation of bankers and merchants waited: on Mr. Asquith and Mr. McKenna on the subject of public economy.

Lord St. Aldwyn said the Government had not since the commencement of tile war enforced economy m matters under their own control. lie urged that private economy be enforced by an immediate increase of taxation.

Mr Asquith, in reply, raid lie had endeavored to bring borne to Jus follow-countrymen the importance am] urgency of economy. They were faced with a large and growing increase ol public and private expenditure, also with the fact that the war could not lie. prosecuted .successfully without large economies. He agreed that they had not gone nearly far enough in providing for the war out of taxation. He had been for a long time convinced that the income tax ought to begin at a lower scale. Its basis ought to be broadened. They must diminish the consumption of imports and maintain exports on an increased scale. The more they bid for this the more would they contribute indirectly to the country’s resources, from which the nation would defray the gigantic expenditure. Ho could not assent to the suggestion that they should proceed by way of a piecemeal Budget, which would he dangerous. He thought it more desirable that the-quest ion Tie dealt with as a whole. There would he no delay in’submitting concrete proposals to Parliament to complete for the present year the duty of obtaining irom the taxpayer an adequate and equitable contribution to the abnormal’ expenses. He was not pessimistic as to tho conduct of the war or the resources of the country. Jn the I louse of Lords, Lord Ribblesdale asked as to the nature of the investigations and scope of the Retrenchment Committee.. Ministers, lie said, must free the question of war cxpeiulitu: e frankly. Lord Lcuisdowiio said the Retrenchments Committee was dealing with Government and civil expenditure. It was impossible to impose a public inquiry on the T\’;;i* Office or Admiralty during flie stress of a great war. Although the Admiralm cud War Office did not come into the .scape of the investigation, thev intended keep without the strictest bounds or the immense war expenditure. Lord Kitchener was going into these* matters- personally with Mr McKenna and had appointed a departmental committee of the War Office to deal’ with the whole subject. Lord Cromer compared the pubic attitude towards expenditure with that of a gambler who had! lost all sense of the value of money.

Lord Crewe said the Treasury had become a spending department instead of controlling expenditure.

THE SPELTER PROBLEM. B R FITS IT CONTROL ESSENTIAL. RESELT OF A E STRATA A X IXV ESTIMATIONS. (Received Julv 23. 11.5 p.m.) MELBOERXK. July 23. Hi the House, Mr Hughes, referring to the metal position, said that reeentlv an agent of the MetMlgesellschaft and Mortons was declared an enemv firm and forbidden to trade. The German metal group thus lost the services of the agent and it became necessary, if German interests were not to he sacrificed, to secure other agents. These, of course, could not be German, and it became necessary to obtain an Australian firm to actas agent for the great German metal combine. During a war in which Britain and Germany were locked in death grips. British control of metals was essential to victory. This would not. lie found impossible. An Australian firm had applied to act as sole agent, for Mdrtons. the firm which was lately represented m Australia bv the Australian Metal Compilin'. tiie agent of Hie Motallgesellscliaft. Two directors of this firm are also directors of a mining company. Those facts demand _ action, and' the Government had decided to Mr Greene pressed Mr Hughes to trfve names and the latter .said ho would give them, hut the questioners would have to accept- the responsibiJitv tic then stated that the companies involved wore the Mount Morgan Company, both directly and through its refining agency the Electrolytic Company and the Goldsbrough Mort Company.