AUSTRALIA'S WAR BILL

Evening Post, Volume XCIII, Issue 99, 26 April 1917, Page 2

AUSTRALIA'S WAR BILL

(FROM OUE OWN CORRESPONDENT.)

SYDNEY, 18th April.

In addition to meeting many war charges out of revenue, Australia is 1 paying no less than £80,000,000 per annum out of loan money on account of war expenditure. On this amount there is an annual charge of nearly £5,000,000 for interest and sinking fund. Further, each year that Australia is in the war, there is. added, at least another £2,000,----000 for war pensions and repatriation— a total annual liability of more than a quarter of the entire "Australian revenue before the war. •

It is estimated that the revenue; for the current financial year will amount to £33,000,000, and the expenditure to £28,600,000. To the revenue there must be added an interesting item of £1,000,----000, money earned by German vessels seized by Australia, and also £3,000,000 domestic surplus, from last year. This gives some £7,000,000 as a domestic surplus. The war charges which this revenue, must meet, however, are: Interest and sinking fund on war loans, £6,000,000; -war pensions, £1,220.000; costs of running enemy vessels, £70,000: repatriation, and war precautions services, £20,000. This war expenditure turns the domestic surplus into a deficit of less than £1,000,000.

The Australian Federal accounts are notoriously in a confused and muddled state, and even figures- for past financial periods can bo given in only round numbers. The war estimates are in a worse condition than those relating to domestic services.' A great adjustment of accounts between the British and Australian War Offices is, awaited, and this will probably be impossible until after the war. There are many who believe that the official estimates are under the mark. However, as stated, these place the expenditure from loan money at £80,000,----000 per 'annum, and.indicate that, for every.year Australia is in the war, £7,000,000 will have to be raised annually by Australia after the war.