BRITATN'S FINANCES.

Hokitika Guardian, 23 February 1920, Page 2

BRITATN'S FINANCES.

(By Electric Telegraph—Copyright.!

LQNDQN, Fph. If). In the House of Commons, replying to Mr Grattan Hoyle, Mr Chanibprlaip (Chancellor, sajd that Britain had granted loans to Russia for war pijr r poses amounting to £50.000,000; fp France, £470,500,000; and to Belgium, £86,500,000; other Allies had been lent £71,000,000. These loans were ex-> elusive of advances for reconstruction. LONDON, Feh. 21.

In the House of Lords, replying to Lord Buckmaster, Lord Hilton said the total deadweight debt of Great Britain on February 14th was, £7,913,000,000, being a reduction of £85,000,000 compared with the 31st December, 1919. Tlie debt due to the United States Government and financiers was £985,000,000. Those due to other foreigners, including Japan and Neutrals, were £150,000,000.

The Chancellor announced that Great Britain has assented to the issue of a French loan on the London market; all of it, however, to l>e spoilt entirely in Britain. The amount and date' art* pot yet fixed,

BRITISH COINAGE CHANGE. LONDON. Feb. 20. In the House of Commons was read the second time a Bill to reduce the proportion of silver in the coinage. Air Chamberlain explained that the reason for this was the enhanced price of silver, which was 2s 44 an ounce in 1914. It was now over 7s 4d per qujicij. Probably, lip said, it woulf} he a tjinp before silver will rpturp to flip. prc-w;ir level. Mr Chamberlain said lie had rejected a proposal to abolish the throepenny piece. For this, he said, there is a great demand. The Treasury, he added, has in readiness, quantities of 5s notes. Notes for smaller amounts were undesirable, hut such notes must be issued if the Bill were not passed.

COAJTULSORY FJNANCE. (Received This Day at 8 spin.) LONDON, February 19. in the Commons, Air Chamberlain said the disadvantage of si compulsory ley in gold and personal effects would outweigh the advantage while a voluntary contribution would produce very little.

TAXATION OF WAR WEALTH. (Received this day at 8.40 a.m.) LONDON, Feb. 21. Air Chamberlain addressing the Select Committee on the Taxation of War Wealth, suggested that if tlic Committee considered taxation should he imposed, the Committee should draft a model'Rill to give effect- to the conclusions. Aloney must be raised for the reduction of the dobt.