MOTHER COUNTRY.

Taranaki Daily News, 7 August 1918, Page 5

MOTHER COUNTRY.

THE FINANCIAL SITUATION. IFTER-THE-WAR PROBLEMS •ATXON MUST PRODUCE MORE AND CONSUME LESS. Received August 7 1.15 a.m. London, August 5. m the Hotue of Lords Lord Incheape drew attention to the financial situation. He said a high income tax retarded the development of the country** resources. Germany's resource* after the war would be wowe than ours, but that was small comfort. Re estimated that if the war ended in March our debt would be at least £6/100,000,000, necessitating an annual payment of £330,000,000, making a total expenditure of £700,000,000, but the war must be continued until the enemy accepted the Allied terms. We we're now living in a fool's paradise. The nation must produce and export more and consume less. Though the country, possessed great recuperative capacity, he feared we must go through a long period ef self-denial' and sacrifice. 1 Lord Faringdon said if the nation was ] to remain solvent many contemplated aftcr-the-war schemes must be set aside. Any attempt to penalise' wealth or to interfere with the sanctity of capital would be disastrous. He concluded that Bolshevik repudiation of the national debt had ended in the starvation of the Russian people. Lord Curzon aaid he was afraid it would be unwise to attempt to go forward too fast with a too ambitious after-the-war programme, but he expressed the opinion that the Government of the day would be swept off its feet by the persistent demand for rebuilding the efetttered world.—Press Association. WAR ANNIVERSARY. LOYAL MESSAGES TO ALLIES. London, August 5. The Press Bureau reports that Pre* tat intern sent a message to the King: Amertoa. eordiafly extends a baud to Great Britain on the aamversary of Britain's entrance into the war. Sherejoices that the two nations etond side by side for the great cause. The King replied: Your message bos been read with cordial appreciation by my people and is encouraging them in the prosecution of the struggle against the common enemies. I am proud that my forces and those of the United States am} BgJsttaf side by side- Yon may reft tamed ef ear unswerving determination to continue with, all our strength until the final victory of right over wrong has been achieved. The King sent a message to the Balers of Bratfl, France, Greece, Italy, Japan, Portugal and Statu, emphasang the Empire's unchanging resolve to concentrate its entire energy to secure a victorious ednctaston to the j straggle and expressing the conviction tittfa victorious peace woe not tar datsni Bu Majesty ant a smrimr atessajt to tie Km* of (to Belgfens, addmgs Belftasrl triok, to braverr borne, sad a poof!* M enduring, provide an incentive too*m 0 pemrraxe tffljptfq&jp. King Cttrif also *at'* ***** <* J the Kings of Ham, MWfcnegro >id tine. «Mddente of Chine, Cufi. <*il*tfiM. gATKXMAL EXPJBKDTrtIttB ---~J OKmCSSED. .1 London, Aujroet 5- j a Tttw of Ol criticism bj the Ckmv 1 ■Wee of National Expenditure a lire* ly demrte on the Information MM*-. **f» vote is antfck*ted m Ae Houee ,«f CoaawM CWble 4avn.