MOTHER COUNTRY.

Taranaki Daily News, 13 January 1917, Page 5

MOTHER COUNTRY.

A MEMORABLE'OCCASiON. PRIME MINISTER AT GUILDHALL. NO MADE-IN-GERMANY' PEACE. WAR PREFERABLE TO PRUSSIAN DOMINATION. BRITAIN THE ALLIES - SHEET ANCHOR. Received Jan. 12, 8 p.m. London, Jan. 11. A queue commenced to lino up at 10 o'clock in the morning, and cheerfully waited for five hours in ths .snow anil sleet to welcome Mr. Lloyd George's first public .speech. There was intense enthusiasm at the meeting. Leading politicians and financial magnates and leading commercial men occupied the platform. The spectators included King Manuel of Portugal, Mr. Massey, and Sir Joseph- Ward.

' A LIMIT TO RATE OP INTEREST. Mr. Bonar Law opened the meeting with an exposition of the principles of and necessity for the loan. He said there was a limit to the rate of interest. So far as he could forecast, a higher interest would not be paid in future. If the loan failed, which it would not, there were other methods appliahle. The rate then would not be 55 -per cent. He' said the great German military machine was resting on an internal foundation which was crumbling irresistibly before our eyes.NO MADE-IN-GERMANY PEACE. Mr. Lloyd' George' said it wonld suit Germany to have peace now on her own terms. The Allies wanted peace, but decided that even war was better than a peace at the price of Prussian domination over Europe. "I have just returned from the Council of War of the four main Allies, upon whose shoulders most of the burden of this Terrible war rests. I cannot reveal the conclusions of the Council, but they, were'thoroughly businesslike. They separated feeling more confident than ever." ALLIES WILL CLEAVE ROAD TO VICTORY'. Mr. Lloyd George, in the Guildhall, said the Kaiser issued an order to drug those he could not dragoon. He told his people that the Allies had. rejected the peace terms when we had not seen the peace terms. We all wanted peace, but ib must he a real peace. All of us a.t the Rome Conference were under no delusion as <to the. magnitude of the task nor doubtful of the result. The whole situation was full of difficulties, which had been faced and arrangements made to deal with them. The Allies felt that if victory was diflfcult, defeat was impossible (Chc»rs.) They had come to the prim resolution to rid the world of the everlasting menace of the Prussian military caste and siive Europe from an unspeakable Despotism.

The Allies were more and more looking towards Britain,' and he was 'confident that that trust would not be misplaced. Ow navy would continue to strangles encjmy commerce, despite their piratical device."., while, with proper support, our gallant armies would cleave n. road to victory in 1017. (Loud cheers.) ' A successful loan would shorten the war. save liver., and save the British Empire and European civilisation from the Prussian menace which at present constituted a miming mortgage which detracted from our, national security.

Let us clear that mortgage for ever, and in future let the nations combine to punish the first peace-breaker. (Continued cheering.) "A GREAT TOWER IN THE DEEP." Mr. Lloyd George continued: "All the Allies knew we were encountering nn organisation which had been perfected for generations by the best Prussian brains for the subjection of Europe. "What struck me more during the conference was the increasing extent to which the Allies were looking to Great Britain. They were trusting to her rugged strength and great resources. Britain was like a great tower in the deep; she was the hope of the oppressed and the despair of the oppressor. When the arrogance of the 'Prussian easte flung Britain's signature on a treaty into the waste-paper basket, the Prussians did not know the pride of theUand they treated with such disdain, but they knew it now. Our soldiers and sailors had taught them to respect us. A WAR .OF EQUIPMENT. "This is a war of equipment. The Germans are pressing back the gallant Allies in Roumania, though the Roumanian peasant has proved himself the doughtiest of fighters, and the Russians, with bare breasts, fought foi 1 2J years with inferior guns, insufficient rifles and inadequate munitions in a heroic struggle which stirred the world. (Cheers.) If we helped to equip Roumania and Russia, there would'be another story to tell soon.

''The armies of Britain woulu ba more formidable and more efficient than in IOTG. There was also a marvellous improvement in the British industries. Factories were scrapping old machinery and discarding slipshod and wasteful methods." (Cheers.) A NATION TAKING EXERCISE. Mr. Lloyd George added: "We will become a* more alert people, ar.d throw off all our useless tissues. We ave a< a nation taking exercise. 1 want to see cheques hurtling through the air. Ever* well-primed cheque is a netter weapon of destruction than a 12-inch shell. The more money we get, the shorter will he the war. A generous subscription to the loan will save the greatest treasure of all, which is brave blood.". '' Mr. McKenna also addressed the gathering. IMPERIAL COUNCIL POSTPONEMENT OBJECTED TO. Loudon, Jan. 11. It is believed that Australia and South Africa have suggested the postponement I of the Imnaria.l n»nference. This .would

not suit the Cabinet, which desire; to attempt the settlement of the Irish question and the early establishment of permanent representation -of the Dominions on the War Council.

THE NEW WAR LOAN. ITS TERMS STATED LEAKAGE OF INFORMATION. London, Jan. 11. Mr. Bonar Law announces that the war loan will be issued at 90 for a term of ,10 years at 5 per cent. The bonds will he optionally redeemable at the end of 1020. An optional loan will also be offered at 4 per cent, free of taxes isued at par, A sinking fund will be established of one-eighth per cent., and the capital set aside monthly until ten millions has accumulated for purchasing stock: whenever it falls below the issue price Income-tax will not be collected at the source, in order to encourage small subscribers Holders of the-4'i per cent, var loan and the 5 per cent exchequer bonds have the option of converting into the new loan at par. Details of the loan accidentally leaked out in Manchester, where bundles of prospectuses had been sent for delivery. The contents of the prospectus reached the Manchester* Stock Exchange, and efforts were made to transmit the principal conditions to London by telephone and telegraph, with the result that an immediate censorship was instituted and Manchester was telegraphically isolated.

A thousand clerks in the Bank of England new loan office will deal with the rush for prospectuses, and a dozen strong rooms have been constructed for storing the gold. SEPARATION ALLOWANCES. London, Jan. 11. The new scheme of separation allowances adopted progressively increases the allowances to children, involving an additional ten millions annually. HIDES AND SKINS London. Jan. 11. . Mr. MasJey and Sir Joseph Ward had a conference' at the War Office, which has: arranged to purchase most of the sheepskins and all the hides. SIR JAMES CARROLL FAREWELLED. London, Jan. 11. Mr. Massev. Sir Joseph Ward; Lords Plunket and" Elyth, 1 Sir Charles Wakefield. Sir George Reid, Mr. A Fisher. Mr. W. P. Sehreiner, Sir George Perley and the Agents-General attended Sir Thos. Mackenzie's farewell luncheon to Sir James Carroll at the Empirt Club.