The Daily News. WEDNESDAY, FEBRUARY 23, 1916. BRITAIN'S WAR BILL.

Taranaki Daily News, 23 February 1916, Page 4

The Daily News. WEDNESDAY, FEBRUARY 23, 1916. BRITAIN'S WAR BILL.

The colossal cost of tin.' war can hardly be adequately realised except by those to whom high finance is familiar. In applying to the House of Commons on .Monday, for a further vote of four hundred and thirty millions, the Premier (Mr. Asquith) gave a comprehensive and interesting review of the co3t of the war, the details of which will repay serious study. The vote in question will raise the total for the year ending March 31, 101(1, to £1,420,000,000, while the total votes since the outbreak of hostilities stand at £2,082,000,000, To the ordinary lay mind these stupendous amounts are almost inconceivable, and it is only when the figures relating to the daily expenditure on the war are rasped that the magnitude of the outlay becomes apparent. It will be seen by Mr. Asquith's statement that the daily expenditure has risen since April Ist last (the commencement of the current fimmcial year), from £2,800,000 to £5,000,000. It should be noted that included in this expenditure are loans to the Allies and the Dominions amounting to £108,000,000, it being anticipated that this sum will be augmented to £423,000,000. The enormous increase in the outlay on munitions plays an important part in swelling the cost of tlie war. From April 1, 1915 to February 19, 1910, the outlay on munitions for the Army and Navy, amounted to eight hundred and thirty-tour millions, while since November last the daily expenditure on this head has increased by four hundred thousand pounds. The taxpayers of Britain are by no means groaning under this colossal burden, but they naturally require that there shall he no wasteful expenditure of these over-increasing millions of national deht. On this point, Mr. Asquith was impressively convincing. He detailed tiie precautions that had been against extravagance or waste, and assured the House that very substantial economies had been effected. That these continually recurring votes of hundreds of millions sterling should be unhesitatingly made by the House of Commons is convincing proof no"t only of the financial strength of Britain, but of the determination -to pursue the war to a decisive conclusion, no matter at whit cost. The sacrifice of treasure is only one of the many sacrifices of the Empire, and no one will grudge, a fraction of the expense when the object in view is obtained, Heavy as must be the price of victory, the boon obtained will be well worth the outlay.