COMPARATIVELY POOR MAN.

Manawatu Herald, Volume XXXV, Issue 1095, 10 May 1913, Page 4

COMPARATIVELY POOR MAN.

MR LLOYD GEORGE'S WEALTH. HIS STORY OF IMAGINARY RICHES.

London, April 2,

The most human period of the long proceedings before the Marconi Committee was when Mr Lloyd George gave his evidence. Extremely interesting was his per soual statement on his finances. Having made his opening address to the committee, be continued : “I should like, before I submit myself to examination by members of the committee, to make just one other statement. It might appear to be irrelevant it it had not been dragged in by those who, I think, very unfairly attacked us. By ‘unfairly’ I mean attacking us in such a way as not to give us an opportuuity tor defence. “If there was anything to say about a Minister, I think people ought to say it, and say it openly. But I think it ought to be said quite clearly and distinctly so that he shou'd have every opportuuity that the law of the land allows him to defend himself. Unfortunately that has not been my position, I am sorry to say 1 have been unable to get any charge formulated. “I tried to do so in thedebate, I have searched every article, and i need hardly say I have taken the best opinion on it but there has not been a single definite charge formulated that could go to the Courts, not even in the matter as far as I am concerned, and yet the whole air has been lull of it. What has been said ? That I made an immense fortune, that I am a very wealthy man, and that I own mansions (laughter)— mansions in Surrey aud Wales aud villas in the south of France. And there have been hiuts, of course, that I could not possibly have saved all that money out of my £5006 a year. Well, that is not a libel, to say that a tear: has a fortune —not even if it is untrue. (Laughter), i. cannot biiug any action xor that, but the inuuendo was perfectly clear.

“I am not sure that ‘Marconi’ was in the same paragraph. In fact, it vyas a different paragraph, a different article but anyone reading it would say, 'That is bow he made his fortune,’ and, of course, I knew what it m,sp r nt, riqd everybody else knew what it meant, but I could not say anything about it. I could not get up and say, ‘That is a lie,’ because they would say, ‘Where js it stated ?” “Vvhat are the facts i> I am sorry to trouble yqu by going into my private affairs. I devoted so much of my time to politics that although I have a profession, supposed to be lucrative, I never made the most of it. Only just to make a living.

FROM SOLICITOR TO MINISTER.

“When a man becomes a Minister he is given a substantial salary, and it was very substantial to me, having regard to the life I led at that time as a solicitor. It was very substantial, and I won’t deny it. The only thing 1 wish to say about it is that it was not larger than that received by my predecessor, as there is a suggestion that I am the first Chancellor to receive a year. (Laughter).

‘‘Every Minister knows his position is precarious and his glories transitory, and he has to take that into account and must think of the time when others, more worthy than himself, will fill the same position. As we know by history, parties come and parties go. Ministers have to change and he must look at the fact that any day he may drop. With regard to that, I, therefore, had to consider what every Minister has to consider in my position—not to live quite up to your income but to set something aside, and have done it. I have invested.

“I have always invested, with this single exception, through my own firm of brokers. I have had uo transactions with any other broker in my lile, aud never purchased shares except these, myself, direct. These are the only shares I have ever bought, and I will give what the net result of all my investments are.

A VKAK

11 My total iuvestmeuts bring me about ,£4OO a year. That is my great fortune. With regard to mansions, 1 have only one house which I can- call my own. It became clear in recent transactions that the great mansion down by Walton Heath was not mine at all. They blew up someone else’s property before 1 even had the lease oi it. lam sorry to say that some of the press have been doing their very best to create a wrong impression. 1 have seen photo graphs taken at such an angle as to make it look a sort ol royal palace. (laughter). The house including the land, is worth only £ 2OOO.

‘‘l have one house in Wales. Cannot a man fifty years of age have one house to call his own ? It is rather hard. I built a house three or four years ago. T was so busy with the Budget I could net even spend my salary, and I built it more or less from my salary. The contract, I think, was something over ,£2OOO. That is my mansion. That is all I have got in the world. I shall hand over any documents relating to my private affairs, but, ot course, they must be kept private. I do not wish to be cross-examined in public about my private affairs, but I am perfectly willing to do what Sir Rufus Isaacs has offered to do —to submit my pass-books. Here they are! I have brought them here from the very first day. My wife authorises me to say that she will bring her pass-book, aud I am sure my brother will be willing to have his examined if you have the slightest desire to do so. I'KRKijcTI.V CL.KAN TRANSACTION,

“ That is the whole ■of my position, and I am glad to have the opportunity of saying so I apologise to the committee and to the public for inflicting my personal private affairs upon them, but I am really bound to do it. It has been said by thoroughly respectable people that 1 have heard on good authority that I have made —well, it ranged from ,£60,000 to £250,000, and it has become absolutely intolerable. “ I have given you the whole of m} r position, and I will hand over my private documents, but as 1 have said, they must be regarded as private, because, of course, this is a thing you do not show to even your own most intimate personal friends. All I have to say iu conclusion is this: I entered into this transaction because I thought it was a good investment. I may or may not have been right iu that respect. Time will show. I entered into the transaction feeling that it was not inconsistent with my duty as a Minister of the Crown. I have taken part in debates of that kind and I did think it was not inconsistent with any principle I have laid down myself when I was criticising. Further, it was perfectly straightforward, a perfectly clean transaction. > still say so to-day, aud I am very glad you have given me the opportunity to make this statement,”'