Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1915-05-05
NEARLY 6 BILLIONS
COST OF BRITISH OF
WAR REST OF YEAR
Lloyd George Estimates What Eng
land Must Pay if the Conflict
Last Till the End of the
Fiscal Year.
ULTIMATE ISSUE NOT IN DOUBT
Chancellor Announces that No Fresh
Taxes Are Contemplated by
Government.
LARGE LOANS MADE TO ALLIES

1ONDON, May A,-ln presenting
the budget to the House Of Commons
today the chancellor of the exchequer
David Lloyd George estimated that
II the war lasted during the whole OF
the fiscal year Great Britain's ex-
ptnditure in that time would be Gl.-
136,4S4,000 (nearly S6,OOO,OO
0O0).
Mr.. Lloyd-G a gorge said that IL
the war should last six months in
stead OF year Great Britain's esti-
mated expenditures would be $780,
ass, 5000.
Mr.. Lloyd George estimated that
the total revenue for 1915-16 would
be s27O,1S2, 900. This is an increase
of G4S, ,6SS.O0O over the total of last
! year.
| The Net Deficit.
On the basis OF six months war, the
chancellor continued expenditures for
war apart from advances TO the aUies
OF Great Britain would rise to 100000
daily and tho ret deficit would he e5il-
$4,000 on the basis OF twelve months
war the net deficit would be eS62, 80, COO.
THAT Is the sum the country win have
TO raise In addition TO the government s
revenue during the course OF the pres
ent year" said he
| The chancellor gave an indication of
the ccllosal expenditure he had to provide
for in his opening sentence. up TO tho
end OF the fiscal year. he said. "the net
cost OF the war has hcen over G3G, 900 900. =
lie believed a review OF the financial
situation would help the public 10 under
stand tho immcnsity OF the task under
taken, The ultimate issue OF the war
Is not in doubt; only its duration" said
the chancellor, and that ls was which
rendered his task difficult.
Much depended. the chancellor con-
tinued upon the operations as TO the
duration Of the war. but the best OF
them could not tell how long 1t would
last. The operations OF the summer
alone could give the government de
pendable opinion.
Expense ~ ProRressinR.
, Tho first eight months qf the war cos
. net e307 100000. he said
; "The cost IL a progressive one. Th
first four months cost eloe, ,OOOOOO; tn
sccond four months ai77OOO.OOo.'
Ono OF the most important announce
nients made by the chancellor was that n,
fresh taxes were now contemplated. u
this connection he called attention I,
what he characterized the wonderful
buoyancy Of the income tax and tn
super tax. the actual yield heing e6s999,
J OOO. or am increase OF nearly eSOOO,OO
over the estimates. lie said that the In
come tax would be renewed In It's presen
form, With o. slight modification, bu
e warned the house that II the war wer
( prolonged Il would be his duty TO con
. slider In what other form the genera
community world provide funds to en-
able the country To carry on the war
As result OF the years operations
L the chancellor said the national deb
was now G1,15S .S57 600
Mr.. Lloyd George did not consider tha
the time had arrived to frame the fins
= policy of the whole year, as the char
o actcr OF the budget must depend upo
the view OF the government whether III
+ war probably would last six months @
= throughout the financial year.
/ Large Loans 90 Allies.
O Dealing with the revenue for the con
: ing year, the chancellor estimated th
total from all sources would reach e2O
q 3s2 OO0. He snid that the fixed deaf
charge for the year would be somethin
;, like e5OOO0,OOO The expenditure for III
!, war would be e40OOO0.OcO or eGOO ZOO, 90
!. according to whether the war lasted 81
=" months or a year on this same bas
u the expenditure for the navy would
- eitO,OoOCO or cl46OOO,0OO He placed loaI
to Great Dritalns allies at e2O0,Ooo0OO'