BRITAIN.

Taranaki Daily News, 1 November 1915, Page 5

BRITAIN.

FINANCIAL ARRANGEMENTS. LARGER XOlli ISSUK NECESSARY. WHITE PAPER ISSUED. Received Nov. 1, 12.20 a,.m. London, Oct. 31. A White Paper lias been published, showing correspondence, between the Hank of England and the Treasury. On August 1, 11)14, the Bank announced that during the previous five days they had advanced twenty-seven millions to bankers, bill-brokers, and merchants upon Government stocks, hills oi exchange, etc. They commenced that morning with a reserve of £17.420,000, which was so largely drawn upon that it could not calculate to have eleven millions in the evening, so unless permitted to issue notes against securities, in excess of the amount permitted by law, it would be necessary to curtail the facilities essential to trade and commerce.

Mr. Asquith and Mr. Lloyd George replied that if the Bank found it necessary to extend discounts' and advances, so as to require it to issue notes, they would obtain Parliamentary sanction for the step.

A COUNCIL OF WAR. LORD ROSEBERY'S SUGGESTION. Received Oct. 31, 8.35 p.m. Lord Rosebery, in a letter to the Times, suggests that the Cabinet should consist of Mr. Asquith, Lord Kitchener, and Mr. Balfour, which should eradicate jealousies and give , unity in the direction of responsibility, with a dictatorship. Received Nov. 1, 12.20 a.m. London, Oct. 31. Lord Rosebery's letter says that the Cabinet is too large, and he suggests a committee of three, who will report to the Cabinet and summon their colleagues and others into the council, if necessary, A RECRUITING BOOM. Received Oct. 31, 3.35 p.m. London, Oct. 30. The success of the first week's recruiting under Lord Derby's scheme amounts to a real boom.

A RIGHT PROCEDURE. SHIRKERS, BEWARE! Received Nov. 1; 12.20 a.m. London, Oct. 31. Lord Kitchener is issuing khaki armlets for enlisted men who are awaiting the call to the colors, and to those who have offered to enlist but have been medically rejected; also to those who have been invalided out of the army and have been medic-ally discharged.

CANADA'S LOYALTY. 100,000 MORE MEN. Received Oct. 31, 4.16 p.m. London, Oct. 30. Ottawa reports that an order is out for the raising of 100,000 more men in Canada. SOUTH AFRICAN CONTINGENT. Received Nov. 1. 12.20 a.m. London, Oct. 31. The first South African naval contingent has arrived at Plymouth.