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The Akaroa Mail. TUESDAY, JANUARY 25, 1916. BRITAIN'S FINANCIAL RESOURCES.

Tub need for economy in Great! Britain has been the subject of much diasaosion of late, and it seems pro- j balile that steps will be taken to enfarea thrift upon the people. Tbe financial resources of tbe British - Empire aia colossal, but at the sama lime eba has enormous demands on! bar pane. Hsr outlays have reached the axtreme fignre of-1,800,000,000, a year, including loans to her Allies aad dominions. With regard to on- 1 own amftll dominion there is a mo™... moot on foot to ratio our lot Ds locally and not to go to the 'old Country. No doubt tha other dominions could do tha same. Tha fj o mi aiono are better off than uscnl, as they ara food producing oountrieja, and aro obtaining axsallant prioaa :for all food commodities. Tbo troahta about preaobtog thrift to the British people is Hit fact .that tbe balk of tbe gopula Moo are better off Shan usual. Men ara gattieg good wageo, through the war, and oaanot see any nesd tor aeoaoroy. In connection with this oub--fees Abe "Morning Poik" eayi:--"An_ yat io curious ara tbe ways of wa_ ioance, and io great is tbe power ol oradit, that oven tbii colossal expends Dart ii aearcely brought bono at prioail Io tbo people; partly, no. doubt, baeause in bo many directions tfca war axpsnditare in itself has in domd an avan grtatar growth in wagaf tbao ib»i wbiob bas tafcurj,

place either in taxation or in the cos 6 of living, though in both directions the expansion bas been considerable" One suggested economy which it is felt would impress the nation at large is tbe reduction of tbe Minister's salaries, whioh now total £119,000 a year, as each Minister receives £5000 a year. Id other countries Ministers salaries are only half that sum, as tbe following comparison issued by Sir E. Gray in 1910 shows :—-

GerUK. France, many. "0.8-A. Minister & £ £ £ Foreign .. 5,008 2,400 2,500 2.460 Home .. 5,000 2,400 2,500 2,400 War .. 5.000 2,400 2,500 2,400 Navy .„ 4,m 2,400 2,200 2,480 Colonial .. 5.000 Not given 2 400 Trade .. 5,000 2,409 1,800 2,400

The real source of anxiety to English statsßmeß of to day is tbe vast 026883 of British imports over her exports. Britain is importing vast quantities of war stores and muni Hone, and her loans to ber Allies are practically imports as well. A Lotsdon financial expert reckons tbat Britain's excess of imports over exports for the past year totals £873,000,000. Her stores imported cost £240,000,000, and ber loans to ber Allies £400,000,000. This makes the grand total of £1,018,000,000, and as the exports only amounted to £400,000,----000, Britain's debt to the foreigner for the year was £613,000,000. It has been suggested that the Government should take steps to reduce the imports by prohibiting tbe import of (usuries. It is one of tbe British traditions to give tbe citizen freedom of action in all matters, but the people at large would ratber put up with any discomforts than run tbe risk of our Empire's financial resources being unduly tried. wealth must outlast that of Germany, and if it is necessary to enforce thrift upon the British public, tbe Government should certainly take the matter in hand and husband our financial resources,

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Bibliographic details

The Akaroa Mail. TUESDAY, JANUARY 25, 1916. BRITAIN'S FINANCIAL RESOURCES., Akaroa Mail and Banks Peninsula Advertiser, Volume LXXV, Issue 3516, 25 January 1916

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553

The Akaroa Mail. TUESDAY, JANUARY 25, 1916. BRITAIN'S FINANCIAL RESOURCES. Akaroa Mail and Banks Peninsula Advertiser, Volume LXXV, Issue 3516, 25 January 1916

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