Great Britain

Stratford Evening Post, Volume XXXII, Issue 1, 25 November 1916, Page 6

Great Britain

RESPECTIVE FINANCIAL U STRENGTH. ANCL«-CERMAN ,METJ*QDS , COMPARED. \ Press . Assn.-^Copyrigbt.—Australian and N.Z. Cable Assn., and Renter, « . ;: (Received 1 1.45 %, m.) •, j r j - L'phdon, November; ,24.' In the course of an interview, ,Mr McKinnonfWood said the .financial position of Britain sfollowed a; policy of openness, whereas. Germany's was one largely of concealment. Ilerr H^lfferich's',last-Budget was ~ admittedly a bogus budget, wherein .tjhe war income and expenditure wpre.iiot stated. The British expenditure bad been clearly., published, and will -probably amount, from .the beginning ;of August, ipi4, to the, end.of March, 1917, to 3883 millions including large advances to the Allies and .the Dominions repayable after the war.' For. a national reason they would be proud that Britain had. borne the burden with cheerfulness and goodwill, betoking the stern determination of the whole people. Since the beginning of the war, w e had raised in taxation 1001 millions. ,The Germans, on tjie Contrary, had gambled upon the expectation of Jhuge indemnities frjjm their conquered ; enemies, and • tjio success of its loans was. largely due/to paper money, which itself had created this njgthod, ?nd which can be repeated indefinitely. It is true Germany borrowed wholly for domestic purposes, but the British borrowings froniv the United States were very small, and, were intended Only to maintain our exchange on foreign exchange, which reflect the judgment of the world. As to the financial position of Germany and Britain when peace comes, Germany will have to face enormous difficulties, and the German financial writers fully recognise this. - MASSEY-WARD AT HOME. MASSE Y V.ISITS BELBAST. 100,000 AS DOMINION'S SHARE. SIR J OSEPH. WARD IN DUBLIN. Presa Association—Copyright, Austra Han and N.Z. C*ble Association. (Received 11.25 a.m.) London, November 25. Mr Massey visited the Belfast shipyards. Tho Lord Mayor, at a luncheon, proposed the. health, of Mr Massey, and told him that the proportion <>f New Zealariders in the fighting equalled Ulster's quota. Mr Massey said he believed the Dominion would be able to send orie hundred thousand and that would he a fair proposition. Mr, Massey was accorded a cordial reception and visited the .linen mills arid, the wounded New Zealariders. ) Sir Joseph Ward has gone to Dublin to fulfil engagements.