Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1916-07-02

/ of the people.
Five hundred local central commit
tees, branches of the larger organlza-
ton, have been organized throughout
[ the country and are working with the
! sympathetic support of the local au-
I thorlties. The latter include schools
and colleges, churches and religious
associations of all kinds, trade unions,
mems brotherhoods, women's societies
and declarations, friendly societies, CO.
operative societies and similar bodies.
1t is the influence and practical as
sistance of all of these organizations
| through the United Kingdom that has
managed to roll up SO many millions
sterling toward paying for the con-
| flict.
Nation Turns to Thrift.
Something of the tremendous task
! in saving confronting the United
I Kingdom was indicated to The Asso-
ciated Press by a financial expert Of
recognized ability.
by his budget for the current
fiscal year, from the end of March last
! to the FIRST of next April, the chan
cellor of the eXchcqucr arranged to
raise by taxation 800 millions stcr-
F, ling" he said. according to the re-
| qulremcntS OF the war that left thll-
teen hundred millions to be found in
some other way. That other way is
And last, but not least, let thousands
of progressive farmers plan for few
acres OF that Queen of the Clovers,"
alfalfa. The extension division Of the
University of Arkansas and United
States department of agriculture is
thoroughly committed to the campaign
and wants the help of all.
1--WE reckon that, the flower of our
industrial manhood having gone into
the army and navy, all those that are
left behind are likewise needed for the
purpose of winning the war. Our
feeling is that we have no right to ask
them to work for us in the production
Of things with which we can easily do
without. SO that by systematic say
ing In this respect we shall be in
creasing our export trade, by means
of which we obtain the sinews of war
at this time.
at has been truly said that every
shilling spent unnecessarily on our
selves is given to Germany, and every
shilling saved Strengthens the cause
for which we are fighting. Because
everything from abroad used here aids
in increasing our debt to foreign ma
tons and thus impairng our financial
position, we are making a particular
effort to save on articles from abroad.
We firmly believe that by systematic
saving we can shorten the war.
"Ihe incentive Of the people as a
whole to save is also explained by the
tremendous figures of the national
revenue and expenditures. The ma
tional revenue for the year ending
March 81, 1916, was 81 ,6S3 1855 600
This sum was $550,3G5 900 more than
the revenue for l914-15, and by far
the largest sum ever paid into the
treasury in any single year in the
nations history, the increase being
due to the new sources of taxation
discovered by Reginald Mckenna
chancellor of the eXchequcr. But the
expenditure chargeable against this
revenue was S7,795, 100000, a sum
which is nearly five millions in ex-
cess Of the expenditure chargeable in
the year 1914-l5. There will be a
similar excess of expenditure over in
come in the current year; the demands
being made on the treasury are, in
fact, greater than they have ever
BEEN"
Aid School Children Enlisted.
The governments very latest ex-
pedient for raising revenue is the war
expenditure certificate, issued June 3
under special act by the lords COM
mlssioners of the treasury, in amounts
of one, five and ten thousand pounds
roughly $4,000, $4,000 and $4,000,
respectively.
These certificates run for two years
from the date of issue at the price,
for the time being, of 90 per cent.
They are in effect treasury bills, so
that the price represents discount
rate of five per cent per annum. The
investment return on the capital in
vested is CORRESPONDENCE higher, be-
ing a trifle over So per cent per
annum reckoned at simple interest
added at the end of two years.
At the present moment, just after
the first of the new certificates have
been issued, it looks as though they
might be competitor of the success
full IL months treasury bill, and also
of the new eXchequer bonds.
No better illustration of the genuine
concern Of every portion Of the pop
ulation to aid in the movement for
national economy is to be found than
the plan, recently formulated, of ask
ing for subscriptions to enable each
child in the London county council
schools and the Church of England
schools to start a savings bank ac-
count with shilling. So successful
has the movement been that officials
of the government have given the sub
ject in several instances individual at
tention. The chancellor of the ex-
chequer and Mrs. Reginald McKenna
recently presented bank books, each
credited with shilling, to 400 school
children in the Surrey villages of
Alton on the Hill and Tadworth. 9th
ers are now following the chancellor's
example in different portions Of the
country.
The spirit of the children was shown
in Liverpool, where, by collecting and
selling medicine bottles, they raised
money to purchase an ambulance for
the Red Cross society.