New-York tribune., 1917-07-25
Chancellor Bonar Law Asks
New Credit of $780,
100000
New Hope Is Seen
In American Aid
Members of Commons Won
der if Conflict Could Be
Won Without Us
b. ARTHUR S. DRAPER
ny Cahle 70 Thn Trihmnel

London, July 24.-For the last four
i:cnths Great Britain has been spend
iEs on an average s33,975,000 a day for
the war, so Andrew Bonar Law, Chan
oellor of the Exchequer, announced in
tie House of Commons this afternoon
in introducing a new vote of credit of
sS,25O, 100000, the nineteenth since the
war began.
The net increase during that period,
the Chancellor said, amounted to ST.
100000 daily. To-Jay's credit brings
the total already granted for the fnan-
c:al year ending March 81, 1918, to 81,
5oO,00O,oOO and for the entire wa- to
Gate s26, ,46O, 100000.
The Commons was clearly staggered at
the announcement that the daily cost
Of the war exceeded by S5,000,000 the
Budget estimate. Mr.. Bonar Law ex-
planned that much Of this increase was
due to payment for articles about to be
sod; to the payment 70 India Of greater
a
greater outlay on aeroplanes, and to
the increased demands OF the army, due
to the fact that the casualties at the
front had been lower than last year
Even this explanation hardly allayed
the astonishment Of the House, how
ever.
Speaks Hopefully of L. S.
The Chancellor spoke hopefully of
the share America was expected to
bear in the financial burdens of the
Allies, but at the same time he an
rcunced that in the last four months
Britain had advanced her allies S5,1OO,-
COO, revealing a further increase in the
war expenditures.
Reginald McKenna, former Chancel-
lor of the Exchequer, who followed Mr..
bonar Law, predicted total daily ex-
penditure of 100000 before the
close Of the financial year and urged
the necessity of drastic measures TO
curtail expenses and thereby prevent
further increases in prices. Prices now
threatened to reach point, the speaker
said, where grave unrest would be
caused.
Financial statements in this country
generally are not made in the most in
telligible form, and this probably is the
cause of the adverse comment in the
House, the lobby later not entirely ac-
cepting the Chanccllor's statement that
Britain would be able 70 hold out finan-
cially longer than her enemies. This
is not 20 be wondered at in a country
where a pre-war budget of $500, 100000
a year was questioned. The comment
of the lobby on the Chancellor's state
ment that nov that there has been
thrown into the scales the country
with the greatest resources in the
world, lack of money will not prevent
the Allies from securing victory" was:
Then what would we have done had
not America entered the war;"
In making hIs financial statement
Mr. Bonar Law said he was TO some
extent disappointed that, despite the
aid from America, the British ad-
vanccs to the Allies had increased.
1--WE hold however," he continued,
that the Allies are one, and that the
money spent on our Allies is money
spent on ourselves. The burden that
We assume is of great dimensions and
one which We can claim as evidence of
unselfshness and that we are not
lighting for ourselves alone.
Sees Great Jnange
when America entered the struggle
we realized chat great change had
come over the Allies financial strength,
President Wilson was slow, and, in my
judgment, rightly slow, in bringing bis
country to the vortex of this terrible
war, but, having come in, he has shown
BY his speeches in the clearest way
that he is determined to throw the
whole weight Of the nation he heads
into the scale. ! am sure that, al
though naturally it takes time to make
the financial arrangements needful m
a war like this, the President and the
great nation he represents will deal
in this matter with the same spirit Of
generosity, or, rather, of realization