WONDERFUL BRITISH FINANCE.

Rangitikei Advocate and Manawatu Argus, Volume XLI, Issue 11645, 12 August 1916, Page 5

WONDERFUL BRITISH FINANCE.

PRACTICALLY BOTTOMLESS AND LIMITLESS. MR M’KENNA IS PROUD. London, August 10, In the House of Commons, Mr McKenna estimated that the total indebtedness to the end of March next would he 3440 millions, from which might be deducted advances to the Allies and Dominions’ of eight hundred millions’ ont of a total indebtedness about equal to one year’s national income. The total national wealth was estimated at fifteen thousand millions. We had revenue equivalent to twenty per cent of the wliole d«bt and would be able to pay out of existing taxation interest on the debt, provide a considerable sinking fund and still leave a margin to reduce taxes. There was every reason to be proud of our financial position. British credit had stood the strain. OF NO CONSEQUENCE. Copenhagen, August 10. The Lidnighten states that Count Zeppelin commanded an airship on the occasion of the last raid on England. GERMAN FEARS FOR THEIR CROPS. INSTRUCTIONS TO FARMERS. Berne, Aug. 10. German commanders have issued confidential instrnctions to farmers in regard to the defence of crops from Anglo-French aviators that they must fire bombs and warn them off as crop destroying air squadrons are being formed.

GERMANY'S HARVEST. London, Augnst 11. Germany’s harvest of barley and oats is officially estimated at million tons, an increase on the 1915 harvest. COLLECTIONS IN BRITAIN. FOR FRANCE’S DAY. Australian and K.Z. Cable Association. Received Augnst 12, 10 a.m. Loudon, August 11. English collections on Prance’s Day amounted to £50,000.