MOTHER COUNTRY.

Taranaki Daily News, 27 November 1916, Page 5

MOTHER COUNTRY.

BRITAIN AND ITALY. POLITICAL AND ECONOMICAL LEAGUE. _ . London, Nov. 24. A British-Italian League, to foster icloser economic,, intellectual, and political intercourse, has been inaugurated at the Mansion House. Mr; Huncimas, in the course of a Speech, said Italy has developed amazingly industrially, and if in the future she turned itiore to London than to it certain that Britain would respond.

fHE FINANCIAL BURDEN. . BOGUS GERMAN BUuCtru. _ V.' , London, Nov. 24. an interview on the financial position, Mr. iTlvinnon Wood said that Great Britain had followed a policy of openness, and Germany largely one of concealment. Herr Helfferich's last " Budget was admittedly a bogus Budget,,, wherein the war income and expenditure were not stated. British expenditure had been clearly published. It will probably amount, from the beginning of August, 1914, to the end of March, 1917, to £3.883,000,000, including large advances to the Allies and Dominions, repayable after the war., The nation had reason to be proud that Great Britain had borne the burden with cheerfulness and goodwill, betokening the atern determination of the whole people Since the beginning of the war we had raised in taiation 1001 millions. The -Germans, on the contrary, had gambled upon the expectation of huge indemnii ties from conquered countries. The success of its loans was largely due to pajjer money which it had itself created. Thia method can be repeated indefinitely. It was true that Germany had borrowed wholly domestically, but the British • borrowings in the United States were

very small, and intended only to main- * tain the rate of exchange. Foreign exchange rates reflect the judgment of the world on the financial position of Germany and Great Britain. "When peace comes Germany will have to face enormous difficulties. German financial writera fully recognise this.

' IMPERIAL CONFERENCE URGED. JO DISCUSS PEACE MATTERS. V\ Received Nor.' 26, 5.5 p.m. London, Nov. 25. The Round Table, suggests that a tasis for a peace agreement may suddenly arise, when It Would be* imposfully negotiate with the OuterEmpire by cable therefore an Imperial Conference should be held beforehand, the Premiers laying down the broad principles and their express desires on those matters within their immediate concern.

PURCHASE OF COLONIAL WOOL. . Received Nov. 26, 5 j p.m. London, Nov. 25. The War Office announces that an agreement has been reached with' the Australian and New Zealand Governments for the purchase of coloniaj/vrool dips. Details of the scheme fo/Kindling this 'season's wool are being arranged. .

STATEMENTS IN PARLIAMENT. • ■ Received Nov. 25, 5.5 p.m. r" ' London, Nov. 24. In the House of Commons Mr. Pretytoan foreshadowed further railway restrictions. \ Mr. Macnamara stated that the Admiralty had nothing further to add re garding the recent Channel raid. No- ' body, had been censured. Cheques, money, negotiable securities, and diamonds have been proclaimed contraband.

A SIGNIFICANT ORDER-IN-COUNCIL. Nov. -26 ,5.5 p.m. ' j London, Nov. 25. 'An Order-in-Oouncil prohibits military rill and evolutions, except by the oyal Naval and Military Forces and he police. It also empowers the ' Authorities to prohibit railway excursions and other special traffic. The Urder specifically, includes Ireland.