New-York tribune., 1914-11-18

ONE YEARS WAR
COSTTO BRITAIN
Chancellor SO Estimates in
Asking for National Loan
Of S1,750, 100000.
TO TAX BEER. TEA.
AND, LATER. WAGES
Incomes Must Pay More
Governments Proposals
Approved.


Approved.
London. Nov. II. David Lloyd
George. Chancellor of the EXchequer,
in the House Of Commons to-day esti-
mated that the cost Of one year Of the
war for this country would be $50
100000 lS2.25O,OO0 0O0), the largest
amount England has ever spent on a
war and more than twice what was
spent in the conflict with South Africa
during four years.
70 pav this enormous bill the gov
crnment had decided TO raise loan o.
$3.50, 100000 (Sl.75O, 100000. which
would be issued at %. bear interest al
the rate Of 3 z per cent and be redeem
able at par March /. 1923.
The Chancellor proposed. and me
House unanimously supported him, that
the income taX should be doubled, but
only collected or ore-third Of the in
come this year; that an extra half
penny zone cent? half pint should De
levied on beer and an extra three
pence six cents a pound ou tea. lie
explained that the expenditure on the
British troops would be higher IN pro-
portion than that OF any other country
in the world. as the pay and the cost OF
the army and navy were greater.
He hoped that there would be o
great reduction in the cost of arma-
ment. after she war. bu: predicted that
even for the frat few year the coun-
try must expect heavy increased
charges for interest i'm the sinking
fund. separation allowances and pen
sons
As it would be easier 20 raise taxes
IN the period Of the war. Chancellor
Lloyd George said he intended TO com
mence immediately. There was no in
tention to levy taxes which would in
terfere with industry. but it was nee
essarv to include all classes.
To Increase Income Tax.
Nr. Lloyd George said he proposed
as the means a. meeting the deho''
resulting from the war 20 increase rhe
income tax. On unearned incomes ne
proposed that a man should contribute
one forty-eightn of his income this
wear and one-siXteenth next year. IN
respect Of earned incomes tne 'h'"'
cellor said, man would nave 70 cor
tribute one-e'ghteth 'h'' year '''
three-eighuetha next wear
10 said that the country had 90 md
.5 Of ,bc financial wear $3.50
pN Wv ,.-. 600 ooo. ... .,..r,. ,,.oui,
"brVoo 'S-'o'''o'''V''
be a deficiency OF t'"3''lI'VoV'
u,. Tiovd George proposed the col
80, odditiouol income tay On
lection OF an "uu''io''"' mn,
only 0nc-tnird OF the i"c""0 '"'' 'V'i
mounting TO a shilling IN the pound
......l a,d l. Sd on uncarncd tu-
V" ,of5 ,be ,..
come. NeAl ''"'' ''
would be L.. cd ana h"i 'i"""' ie
.,octively. with the same rat" ior .te
III, .,,,ou,t coiioctthle ion
super '"'' -o,'o,o
the present year is Alz.'Vo'oV" az" t.
va,r ell.750.0O0.
NJ. .o,,.~v ,aid Tho Chancellor
~. ...,,l ....
was fighting an emery '"St '"u'" 81"
give I'm 10 any terms "nicn hli;ah
could prudentv accept without q
.,oosbipo defcat. Whether ,hc "a,
.;...- .- ,....., ,.,c....,.... ..
were 4o"F W
settle once ahd TOR AT me +i""- ave.
zion which so long has been caus" Cd
....;.- -. E,,,o,o
I,.ao,o'' bn ,,' ,,ar would lac Def-od
-. ooorr,ous demand wouIi ne
,aJa mon The manufacturing re-
'H"uD ng ,bis countrv. which wouid
o"tCI' tSii ,red hy one Of the most seriou.
il,,,t,;aI De sitnotions lie nation cver
hau conn oi''." ',,g,'f,., t,....br. cha. 90.
- "oS ,l...;t1, .bould b,
much H'o"eS 'I..,,,., +,o ,ariod
lalsed Dy '"A"'.o' ,a.,,... ,bd nov
oi inha'io" 80 ,b. co,,.t,,- Ic
would be committing am dhpafGohao ol'