Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-04-22
SHOWS !. s. HAS LOANED
Gs9Q,0DO,0l0 TO ALLIES
British Chancellor Says His Nations
Debt Was R5,550, 100000
at End Of Year.

LONDON, April 22.-Chance1lor Bonar
Law. introducing the budget in the
house Of commons today. announced
that in the last year Great Britain had
advanced f505,000,000 to its allies. and
that the United States had advanced
f950,000,000 to the entente nations.
ut Is only necessary for u.s." he said.
ITO lean on the United States to the
amount the other allies lean on us. In
other words. we are self-supporting."
Tho chancellor said he had made GER
tain suggestions regarding advances
to the allies which, IL adopted. would
lessen Great Britain's burden consid-
erably without in any way increasing
the total obligations Of the United
States
The gross national debt at the end OF
the last year was s5.S50. 000. 900. the chan
ton running we'll over so per cent OF
the pre-war taxable revenue.
The chancelloNsa said that at the end Of
the present year the national debt
would be es.sso.ooo 900. He did not
believing that sooner or later there
would be an ordered government of
that nation. The total debt due Great
Britain from its allies at the end of the
year, ne dQQeQ, WOulQ De t1s0SSsVUU,vUV.
The chancellor estimated that the
expenditures in the coming year at
f2.972.19Z.000. He placed the revenue
at f774, 250,0o0. plus fe7,s0o.ooo. to be
gained from the new taxation. making
ance Of f2.130.147.0o0 to be covered by
borrowing.
The income tax, he announced. would
be raised from S to shillings in the
pound. He estimated the yield from
this source at f11,000.000. No change
was proposed on the tax on incomes
Of less than E500. The stamp duty on
checks, he said. would be raised from
penny to two pence. yielding ESQ.,
Comparing the financial situation of
Great Britain and Germany, the chan
cellor said the daily expenditure of Ger
many was $3.50, 900. virtually the same
German total did not include certain
charges. The total German votes OF
credit amounted to f6.200.000,000. The
new taxation imposed by Germany, he
| said. was insufficient to pay the interest
on the war debt. II the case of Great
Britain were similar to that of Ger
many, the chancellor added, he would
say that bankruptcy was not far away
The measures of taxation introduced
by the chancellor included an increase
of postal rates within the United King
dom and to the United States. Canada
and India from penny to three and
one-half pence, which would yield f3.-
100000. The taxes on beer and spirits
he said, would be doubled. There would
be taxation of farmers on a new basis
They would be taxed on the assumption
that their profits amounted to twice
their rent, whereas 1t was assumed un-
der the present law that q farmers in
como exactly equaled his rent.
The supertax would be four shillings
six pence on the pound, instead OF
three shillings six pence, and would
begin with incomes OF E2.500 instead
Of $4,000. The sugar tax would be in
creased by eleven shillings eight pence
per hundredweight, and there would
be an increased taxation on matches
The tobacco duty would be raised from
six shillings five pence to eight shill-
ings two pence per pound.
The chancellor also announced q new
tax on luxuries. along the line Of the
French methods Of taxation Of these
articles.