Great Britain

Stratford Evening Post, Volume XXXI, Issue 12, 12 August 1916, Page 5

Great Britain

THE RELfEF OF BELGIUM. PROBLEM OF FOOD SUPPLIES. Pros;! Association —Copyright, Australian and N’.Z. Cable Association, i, Received 9.-15 a.in.) London, August 11. Lord Robert 'Cecil, in the House of Commons, slated that the Government was satisfied the food imported into Belgium by the 1 Relief Commission would not run any risk ot appropriation by Germany. The Germans in certain respects still violate the guarantees regarding domestic supplies, hut neutral representatives are acting energetically therein. The Government is“ fully satisfied that the Relief Commissioners funds should be.

handed over to the, Neutral Conunis sion in Belgium.

“FRANCE’S DAY.”

COLLECTIONS IN ENGLAND.

Press Association—Copyright, Australian and N.Z. Cable Association. (Received 9.45 a.m.) London, August 10. The English collections for France’s Day amounted to £50,000. BRITAINS FINANCIAL PROBLEM. Press Association —Copyright, Australian and N.Z. Cable Association. London, August 11, In the House of Commons, dealing With the Treasury Estimates, several inembers adversely criticised the large issues of Treasury bills, urging that the Chancellor of the Exchequer should issue a loan, but others objected to raising the bank rate. Mr. McKenna, in reply, said ho entirely approved of the Bank of England raising the money. We wore consuming more goods - than we produced, and had to obtain supplies from abroad. Our task was not only to make up our own deficiency, but also tile deficiency in productinon of all the Allies, which was really a gigantic task. All questions of internal finance, important as they wore paled into insignificance in comparison with the daily task of financing foreign supplies. Wo had to pay abroad certainly one million probably nearer two millions, daily. We were able to borrow abroad cheaper than any other belligerent, but he was unable to say when they would issue another loan.

FINANCIAL POSITION. Mr. McKenna estimated the total indebtedness .at the end of March next as £3,440,000,000, wherefrom we might deduct advances to the Allies and Dominions of £800,000,000 out of the total indebtedness—about equal to one year’s national income. The total national wealth is estimated at £15,000,000,000. We have revenue equivalent to twenty per cent, of the whole debt, and should bo able to pay out of existing taxation the interest on the debt and also provide for a considerable sinking fund, and still leave a margin to reduce taxes. There was every reason to be proud of the financial position. British credit had stood the strain.

THE DARDANELLES COMMISSION London, August 10. Mr Bonar Law, in the House of Commons, explained that tho Imperial Government thought it desirable that Mr A. Fisher and Sir Thomas Mackenzie should serve on the Dardanelles Commission. They had not been appointed by their own Governments and should not be regarded as representing them. The Commission meets within a fortnight.

The Commission will probably meet on the 17tli inst. LORD LANBDOWNE RESIGNING. London, August 11. The Daily Chronicle states it is understood that Lord Lansdowne will shortly resign, on tho grounds of illhealth.

LABOR ADVISORY DEPARTMENT.

London, August 11

The Government is establishing a Labor Advisory Department, under Mr Henderson.

POLICY OF REPARATION URGED.

NOTICE IN THE COMMONS.

/Received 10.55 a.m.)

Loudon, August 11

In the House of Commons, Sir Edward Carson gave notice, urging the Government to consult the Allies concerned to adopt a policy of exaction and reparation for Germany’s outrage; on international law and the usages of civilised warfare.