The Manawatu Herald. SATURDAY, JUNE 24th., 1916. RUSSIAN WAR EXPENDITURE.

Manawatu Herald, Volume XXXVIII, Issue 1568, 24 June 1916, Page 2

The Manawatu Herald. SATURDAY, JUNE 24th., 1916. RUSSIAN WAR EXPENDITURE.

THE enormous military efforts of Russia have demanded from the I’ommeneemenl <d' the war lid .lanttary Isl, Dili, the expenditure on military needs, of approximately .Cl,I 1S,<H»(»,()(I0. These lignres show signs of slid farther expansion. At (he hoginning of the war they amounted to £SOO,OOO a day, Imt gradually increased, and at the end of Il)lf>* reached £d,270, 000 a day. In h'l’anee they have reached £d,270,000 a day; in Britain more than C 1,000,000 a day; in (lermany, according to lignres for August, when these disbursements had scarcely reached their present dimensions, they amounted to Cd,270,000. Hasing ealenlalions upon past experience, it may he assumed that Russian war expenditure for the whole of ItMti will come to not. less than £1,200,000,000. The covering of these unprecedented outlays, of course, goes beyond the limits of ordinary Slate resources, and is possible only by recourse to Stale credit. The Russian (iovernment. has managed to place upon the domestic market, three long-term loans to the amount of .(‘200,000,000, and one loan for fen years to (he amount; of .C. 100,000,000. Exchequer bills circulated within the country amounted to over .070,000,000, and short-term bonds discounted on Ihe open market to £100,000,000. In a year and a-half Russia, has succeeded in drawing from the internal resources of the country £470,000,000.