New-York tribune., 1916-07-25
Premier Asquith Requests
Credit for the War OF
$780, 100000.
AMMUNITION COST
AT HIGHEST MARK
Expenditures for Defence Alone
Are Placed Now at S25, ,000,-
900 Day.

London. July 24-Premier Asquith
TO o-day asked the House of Commons
for vote of credit Of G450,00O,OOO
(s2,25O, 900, ,000J. This vote is the
argest asked by the government since
the beginning of the war, and VIII
bring the total voted this year to
81 $50 900 900 and the total since the
beginning Of the war 10 f2.s32, 100000
approximately s14, 900, ,0OO).
Mr.. Asquith added that the navy,
army and munitions cost s379,000, 900.
the loans to Great Britain's allies
G157, 100000, and food, supplies, rail
ways, etc, s23,OOO,OO0. The average
daily expenditure on the war, he said,
was S4,950, 900.
The Premier hoped the expenditure
for the army and navy would not ex-
ceed the present level in the near
future. The munitions cost remained
stationary at the highest level yet
reached, he went on, and might in
crease.
Twelve Votes of Credit.
Premier Asquith asserted that since
the outbreak of the war there had been
twelve votes Of credit, totalling 1882
100000. The present vote was sub
stantially larger than its predecessors,
but this was not because any great ex-
tension of expenditure was anticipated,
but in order 10 make provision for a
longer period and the covering Of any
necessary results.
Explaining the statement Of Reginald
McKenna, Chancellor Of the Exchequer
who said that the expenditure had
reached f6,OO0OO0 daily Premier
Asquith made the same statement as
did the Chancellor in regard to the
purchase of American securities, which
he said was not a true expenditure,
but merely a transfer of assets from
England to America.
After expending f559 900 900 between
April and July %, continued the
Premier. there was a balance on hand
Of f41 100000, which was sufficient to
carry on the services to the end of
July. instead of the first week in
August. as he had estimated. The daily
average Of expenditure had risen from
f4,S20.000 during the period from Nay
to June 30 to G5050,C00 during the
period from June 21 to July %, or an
average over the two periods of 1880
900. The principal causes of the in
crease we're the army and army NUM-
tions.
Naval Cost Stands Still.
During the first period the average
irrecoverable expenditure was $4,000
600, being exclusive of supplies to the
Allies. During the second period it
was s3,600,0 900. From both these figures
should be deducted the average peace
expenditure of f220,000 daily. The
naval expenditure, added the Premier,
proceeded at a uniform rate and was
not expected 20 increase in the near
future. Army expenditures, he said,
reached the high water mark, exclusive
of munitions, last November. and from
January to June remained fairly con-
slant at a figure rather less than that
Of last November.
The daily average of loans TO all
dominions had dropped f1,49O,OOO in
the first period to fl 100000 in the
second period; but these figures, said
the Premier, were very misleading, be-
cause in the first period there vas one
item of el2,O00,000 attributable in
reality to the previous period. Allow
ing for that, the average expenditure
under this head had increased. The
figure for the second period was
swollen by the fact that the govern
ment had advanced sll,O00.00O to Aus
traia to enable that commonwealth to
finance the purchase of wheat con-
trnntnd fnr h. III hnr,,n crnun-r 4, nrt