BRITISH FINANCE.

Stratford Evening Post, Volume XXV, Issue 39, 17 February 1915, Page 4

BRITISH FINANCE.

Sir Edward Soares, Assistant-Comp-troller of the National Debt, speaking at a recruiting demonstration not long ago, pointed out that before the war, in June last, the yield of British Consols was £3 7s Id per cent., and that of Cerman Imperial 3 per cent. Consols £3 19s per cent., the credit of dermany being thus 18 per cent, inferior to that of (treat Britain at that time. Both countries had since raised war loans, ami the yield was I per cent, on the British war loan, and £5 2s 7d per cent, on Germany’s, proving in terms of percentages that German credit was now inferior to British credit by 28 per cent. Moreover, lie went on. Great Britain had issued 4(0 millions of securities at the average of C 3 18s fid per cent., and every public issue had been more than fully subscribed. On the other hand, Germany had had a credit from the

Reichstag of 250 millions, and had issued bonds and obtained war loans amounting to 219 millions at an average rate of £5 os 4d per cent.; so that Great Britain had raised more than double the amount Germany had raised at a much lower rate per cent. Another interesting fact was that, while the value of the British sovereign in Germany bad iucerased from 20 marks 50 pfennings before the war to 1 22 marks 10 pfennings on November 11, the German 20-mark note in England, which before the war was worth 19s 6d, depreciated to 16s Bd. The figures given in yesterday’s cable messages, and the statements regarding the resources of the three principal Allies are interesting as supporting the above and indicating Britain’s enormous financial strength.