El Nuevo mexicano., 1917-05-03
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out luSurdLIc6 upOu lu0 AFCo VI oih
GERS and crews.
BRITAIN HAS SPENT
OVER $21,ooo,ooo, 1000
London, May 2.-The fourth and
largest budget of the war has been
prepared by Chancellor Bonar Law for
Introduction in the house of commons
| today. Although Intervention OF
America is expected to relieve Great
Britain to a large extent, the govern
ment's expenditures for the present
year, if the war continues, probably
will exceed the cost of preceding
years. New sources Of revenue must
be found.
Andrew Bonar Law, chancellor Of
the exchequer, in his speech introduc.
ing the fourth war budget In the house
of today, said that since the
beginning of the war 822,000,000
pounds had been advanced to Great
Britains allies and 142,ooo,ooo pounds
to her dominions. The national debt,
he said, stands at 3,854,000,000 pounds,
less allies and dominlons.
The total Of the five per cent war
loan, the chancellor announced, was
966, 04S, 900 pounds and Of the 4La per
cent loan s21, 900 pounds. War
savings certificates had produced moro
than 72,oo0,oo0 pounds. During the
war, the chancellor added, the national
expenditure had been 4,318,000,000
pounds, Of which $4,000, 900 was out
of tho revenue.
The tobacco duty, Mr.. Bonar Law
stated, would be increased one shilling
ten pence per pound and the excess
profits tax raised from sixty to eighty
per cent. The eighty per cent excess
profits tax was effective from January
!, last, he said. The government, con
tinued the chancellor, would requisi-
Ition all ships and by this means 1t
would take the excessive shipping
profits.
PRESIDENT WELCOMES
NATIONAL CONFERENCE
President Wilson later received the
delegation and told them it was the
supreme duty of the United States to
coordinate it's energies so democracy
shall be indicated and the world
shown that the American government
does not live in vain, He declared
that every force in the United States
should be turned toward the supreme
effort of winning the war.
Il have no homily to deliver to YOU"
said President Wilson, because /
know you are as intensely interested
as I am In drawing all our efforts and
energies together in a common action.
My function has not of recent days
been to give advice but to get things
co-ordinated so that there will not be
any, or at any rate, too much lost mo-
tion and in order that things should
not be done twice by different bodies
or done in conflict.
SIT is for that reason that ! partic-
ularly welcome a conference such as
this you are holding, the conference
which will acquaint you with exactly
the task as it is conceived here In
Washington and with the ways in
which cooperation can be best or
ganized. For after all, the task Is COM
paratively simple.
1.-THE means of accomplishing the
task are very complicated because we
must draw many pieces of machinery
together and, we must see that they
act not only to a common object but
at the same time and In a common
spiri !. My function therefore today is
the very pleasant function of saying
how much obliged to you l am for
come here and associated your
self with us in the great task of max,
ing good what the nation has promised
to do-go to the defense of the rights
of people everywhere to live as they
have q right to live under the very
of Jul nation"