The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1914-11-18
WIL[C0SIENG[AKO
S2.25O,OOO,O00
T0F|GHT A YEAR
No Hope Of2eaCe Without Smash
INK Defeat of Germany
TAX ON INCOMES, BEER AND TEA
Problems Of Common Carriers viii
Be Met in Spirit of Candor
and Justice

London. Nov 1S.-David Lloyd
George, chancellor of the eXchequer,
in the House of Commons yesterday
estimated that the cost of one year of
the war for England would be G450,-
OO0, 900 { $2,25O,O00,O the largest
amount England has ever spent on a
war and more than twice what was
spent in the conflict with South Afri-
ca during four years. To pay this
enormous bill the government had de-
cided to raise a loan of G350,000,000
(s1.75O,000 000). which would be is
sued at 95. bearing interest at the
rate of 1-2 per cent and be redeem
able at par March l. 1928.
The chancellor proposed and the
House unanimously supported him
that the income tax should be doubl-
ed, but only collected on onc-third
of the income this year; that an ex-
ira half-penny Zone cent? per half
pint should be levied on beer and an
extra three pence (six cents per
pound on tea. He explained that the
expenditure on the British troops
would be higher in proportion than
that of any other country in the
world, as the pay and the cost OF the
army and navy were greater: there
were separate allowances to the men
and their families, and pensions we're
on larger scale. Already 100000
were serving and another million
we're in the course of enlistment.
1--WE are fighting,' said the chancel.
Tor. IAN enemy who cannot offer any
terms that we can accept without a
smashing defeat Therefore, II there
is any doubt about the length of the
war l. as chancellor of the exche-
quer. must assume the longer per.
iod."
The chancellor OF the exchequer es-
timated that a full year of the wal
would cost at least & 450. 100000. lie
refused 10 speculate as TO the length
of the war. II might be shortened VI
heightened he said. by accident. but
he was bound as a prudent chancellor
OF the exchequer TO estimate TO-
longer period. Mr. Lloyd-Georce es-
timated that the proposed increase in
the beer duty would produce E 1850.
600 in the present year and G17.Qs0,.
600 next year The increase in the
tea duty, he said would, produce
f950,0OO this year and c3,200,0O0 IN
the next ~ months. The only cae zee
of catching the teetotallcr. he added.
was the tax on tea.
The government before had deril.
ed TO raise sum which would enable
It TO carry the war up TO July and
prospectus was issued yesterday al
ternoon OF loan amounting to cS50.
100000 at the price OF %. bearing in
te est at IL per cent. and redeem.
bale at par on March 81. 1928. OF
this sum. the chancellor said. the
government already had been offered
L 00,O00,00O by one firm
The chancellor appealed for sup
port of the loan. concluding: 1T Is a
loan to help this country fight this
battle for her existence. The only
dissent tn ,oughout his long speech
was while the chancellor was pro-
posing a tax on tea. lie spoke of
the elusive teetotallers as difficult to
catch as the Emden" At this point
Left Jones. member for North West.
moreland. well known as public
speaker on temperance. and who
never loses an opportunity of preach
ing the virtues OF total abstinence.
left the House as a protest, amid the
laughter OF his colleagues.