The Barre daily times. (Barre, Vt.) 1897-1959, 1915-05-05
War Costing Britain $10,-
100000 a Day Makes
1t Necessary
$5,6S2, 10000
EXPENDITURES
If Conflict Ends Sooner Sum
Will Be Less-Deficit of
Four Billions

London, May Sin presenting the
budget to the House OF Commons yes
terday the chancellor of the exchequer
David Lloyd-George, estimated that II
the war lasted during the whole of the
fiscal year, Great Britain's expenditure
in that time would be $5,6S2, 10000.
Mr.. Lloyd George estimated that the
total revenue for the year l9l5-l9l6
would be 81 350ol0,000. This is an in
crease of $2ls,l90,000 over the total of
last year.
| On the basis of a six months war, the
chancellor continued expenditures for
war, apart from advances to the allies
of Great Britain, would rise to $40, 50O,-
900 daily and the net deficit would be
$2,57L730000. On the basis of IL
months war the net deficit would be
S4.3ll 100000.
THAT is the sum the country will have
| tc raise in addition to the governments
revenue during the course of the pres.
ent year." he said.
The chancellor gave an indication of
the colossal expenditure he had to pro-
vide for in his opening sentence. up
to the end of the financial year." he said,
"the net cost of the war has been over
81 .535 900 600"
He said he thought a review of the
financial situation would help the pub
lie to understands the immensely of the
task undertaken. "The ultimate issue
of the war is not In doubt only its
duration" said the chancellor, and this
it was which rendered his task diff
cult.
Much depended the chancellor contin.
ued, upon the operations of the next
two or three months. Experts gave ".
rous predictions as to the duration OF |
the war, but the best OF them could not |
tell how long it would last. The opera
tons of the summer alone could give |
the government dependable opinion.
"The first eight months of the war
cost, net 81 So 00G. 900" he said. "The |
cost is a progressive one. The first four
months cost S5l0.000.00o, the second four
months Sss5000 900"
One of the most important announce.
ments made by the chancellor was that
no fresh taxes were now contemplated.
In this connection he called attention to
what he characterized as the wonderful
buoyancy OF the income tax and the
supertax. the actual yield being $346.-
095!000 or an increase of nearly $40
100000 over the estimates. He said the
income tax would he renewed in its pres
INT form. with a slight modification. but
warned the House that il the war were
prolonged il would be his duty to con.
slider in what other form the general
community could provide funds to enable
he country to carry on the war.
As a result of the wears operations.
he chancellor mid. the national debt
vas now s5s29, 2s5000
Mr.. Llovd.George did not consider that
he time had arrived TO frame the final
,olicy for the whole wear. as the char.
cter Of the budget must depend upon
he view OF the government whether the
var probably would last six months or
throughout the financial year.
Dealing with the revenue for the com.
NJ wear. the chancellor estimated the to.
al from al sources would reach 81 .35l..
60.00o. He said the fixed death charge
or the wear would he something like
2J0.000.OOO. Tee expenditure for the
rmy would be $1,000 OO0O00 or $1,000
00.000. according 10 whether the war
asted six months or year On this
anne basis the expenditure for the navy
'ould be s5O00,000.0o0 or $1,000. 00o. 600.
le placed loans to Great Britain's al.
es at $1,000. 100000