Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-12-03
COST OF SOUTH AFRICAN WAR.
Direct Expenditures by England OF
Hundreds OF Millions Already.

jOFcct Dy CtlEidiit "
Hundreds OF Millions Already.
The cost of the South African war
has now so greatly exceeded the oriGi-
nal estimates that practically no one
in authority in England seems able to
make a definite calculation of what IL
may ultimately amount to. The Dor
rowing powers granted to the British
government by the late Parliament are
nearly exhausted, and heavy arrears
amounting to between 5000 000.000 ana
$3.50 o00, 900 are pressing for payment.
Against these liabilities the govern
merit has about $4,000. 900 Immediately
available. the uneXhausted borroW'h"
power amounting to $50. ZOO, 900, ana me
balance OF loans issued yet to be paid
up Si5 900, 900. OF the payments III
arrears much consists of the pay que
the army and debts to contractors
The indirect cost has been estimated,
and the result is highly interesting III
September last the shrinkaSe III Naioe
OF the full list OF securities quoted ON
the London Stock Exchange had' aS
direct consequence of the war, fcatheu
the enormous figure OF nearly S-'""''
| 600 600. The decline in the market
v1lue of conSOlS alone has Deen SER
ons and the fall has been cQuahH
| marked in municipal stocks ana All
wov and other obligations. Inc m
grease 10 the national debt Win 'he
additional taxation TO meet the lh'er-
| ast pavments has also to be taken INTO
| account Then there is the expense OF
the permanent garrison. estimated a'
| "a 600 men. which will have TO be Kept
| nm fo,. an undetermined period out oI
| rho nocIlet of the British taxpayer
for there is no present visible sonrc"
| of revenue in South Africa from Whlch
( the cost can be paid.
| ,,,+ Tho matter does not end here.
The increase and the reorganization OF
tho army have to be provided for. and
millions will have to be spent in bring
;r.. the stores of ammunition and other
var material up 10 the requirement
OF the new policy. Already orocrS ~
$40 0on 600 worth Of new guns have heeh
placed. 10 be followed by others .he
an,ount of which has not yet been de-
! cided ON.
It is not. however, in England olliH
| that the direct cost of the war Is h,ah-
| inc. itself felt by the taxpayers lic
! shortage of revenue in cape ooioiN
| this wear is estimated by the minister
| of Finance at not less than $l-''i''o'"'
| which he proposes to borrow, thous'
! tho reception which a proposal to raise
| . S,,,au loan in the London market I
| fau. months ago met with does not
| caar, 10 encourage fresh Applications
| in tho n me quarter In the nature OF
things il will be some years before u"
| r-acta and destruction worked by the
,-a- have been made good. and mean
| .i,oa rho course of trade which in the
mast was favorable to Cape colony
,,.ll ,al,a other channels. Durham. in
| Natal. and Lorenzo Marques are so
| much nearer to Bloemfontein anu
Pretoria than cane Town that supplies
and traffic may be expected 70 take
mo shorter routes. This will affect the
revenues of Cape Colony deriVable
from the railways.
| Ma boom is tn be looked for after tn.
! war is over. the sacrifices mace ny the
| Cape farmers or imposed on them nav
| ing been too great 10 permit their
| launching out into eXtravaganceS OF
! any kind for a long time TO come. nc
reduction of the Imperial expenditure
! consequent on the withdrawal from
| the country of the great portion Oh the
| British Army will cause a sudden re-
duction in the trade depending on II
and bring about great curtaliheh,
| OF the profits Of those engaged IN u anu
on which they depend for their living
| The latest accounts from the late
| Orange Free State describe il as re-
| duced almost to the condition OF IL
| desert, the foor homeSt@adS IN ruins
and the tlOcks and herds either carrleo
| off to supply the wants OF the army 81
occupation or scattered over the Neldt,
| wher. they are a prey to the VIII
beasts that are making their appear
ance in considerable numbers ms re
suit of the disappearance of the popu-
| lation The cessation of the oroduc-
ton Of gold during the period of the
| war is also among the indirect losses
| caused by it.