Great Britain

Stratford Evening Post, Volume XXV, Issue 39, 17 February 1915, Page 5

Great Britain

The Aliies' Resources. GREAT RESPONSIBILITIES. THE CHANCELLOR EXPLAINS THE RECENT CONFERENCE. i t • •*;' ' .• { t ' United Press Association. London, February 16. In the House of Commons, Hr Lloyd George was loudly cheered. After emphasising Russia’s undeveloped resources, he said that suspension of alcohol had increased the productivity of her labour by thirty to fifty per cent. It was as if she had added millions of laborers without increasing the expense of maintaining them. France also had special difficulties. Britishers did not quite realise the strain this gallant country was undergoing. She had the largest proportion of men under arms, and the enemy was occupying some of its richest territory, yet the French nation possessed wonderful confidence. They felt assured that Germany had lost its tide, and had no more chance of crushing France than of over-running the planet Mars. There was a number of small States looking to the greater Allies for financial support. They must see that Belgium did not suffer until the period of restoration and compensation came. Servia was fighting her third war within three years with force, courage, and brilliancy, but without wealth or revenue from exports or manufactures. There were also other States preparing for war, and it was obviously in our interest that they should be well equipped. Britain’s special difficulties were due to the fact that two-thirds of her food had to be purchased abroad. She had had to create enormous credits. The only thing was for all the Allies to bring all their resources into a common stock. The country with most -money must bring it. The collapse of the rebellion in South Africa ensured a large and steady supply of gold. It was arranged at the recent Paris conference that French and Russian bankers would assist if Britain’s stock fell below a certain point.

Britain’s expenditure was due to recruiting her new army, her huge navy, liberal separation allowances, bringing troops from tho ends of the earth, and waging war in Europe, Asia, and North) and South-east Africa. The Conference discussed the suggestion of a joint loan, and concluded that it would have been the very worst „way of utilising their resources. It would have frightened every Bourse and attracted none. It was asked if the interest paid would ho the interest at which we were able to raise money, or the rate that France or Russia could raise money. If we paid a high rate, we could never raise more money at a low rate. Therefore it had been decided that each country should raise money for her own needs in her own market, but Britain, France and Russia would contribute proportionately to every loan of the small States. Later a joint loan would be floated to cover these advances. The Paris Conference had also ar- *

ranged for France to have access to our markets in respect of Treasury bills issued in France, and initiated arrangements to help to restore the exchange. In respect to bills held in Britain against Russian merchants, we proposed to accept Russian treasury bills against bills of exchange due from tbo Russian Government, which in return would facilitate the export of produce the Allies required.

The three days’ conference face to face cleared up misconceptions and misunderstandings which would otherwise have taken weeks to remove.

THE BRITISH ARMY.

APPROACHING THREE MILLIONS.

Times and Sydney Sun Service, (Received 8.0 a.m.) London, February 16.

The military correspondent of the Times writes: “If the:rate of recruitling is maintained at the present standard, it will reach the three million mark within a certain time. We have become already a first-class military Power. t The more widely the facts are known the better heart will be given the Allies and the greater will be the impression made upon our enemies.” THE INCAPACITATED. FIRST BATCH LEAVES FOR GERMANY. (Received 8.1.0 a.m.) London, February IG. The first batch of sixty incapacitated Germans left Victoria Station yesterday. Practically each had lost a limb. I DUTCH SHOW COMPASSION FOR j BRITISH MAIMED AND BLIND. (Received 8.40 a.m.) Amsterdam, February IG. The Dutch members of the Red Cross Society at Oldenzaal presented tobacco, fruit, and refreshment to 110 liberated Britishers who were mostly maimed and blind. The German ambulance men accompanied them across the Dutch Territory. MISCELLANEOUS. Times and Sydney Sun Service. London, February 10. Recruiting among Territorials is brisk. Eighty per cent, have volunteered for foreign service. Several units are engaged in the fighting lino, and many- others have replaced the regulars in garrison duty in Gibraltar, Malta, Egypt, and India. Their diet/, is of paramount importance though not likely to be eventful, and the men have cheerfully left the glory | for others. • Now battalions undergoing extensive | training include many professional • men, doctors, architects, and engin- | oers, giving up assured incomes to 1 strengthen England’s first line of defence against a possible raid. United 'Press Association. February 10. The Russian Treasury hills were j largely over-subscribed.