RUSSIA'S FINANCIAL POSITION.

Clutha Leader, Volume XLII, Issue 83, 21 April 1916, Page 6

RUSSIA'S FINANCIAL POSITION.

INGE EASE TN SAVINGS. PKTROGR'AD, April 10. The Minister of Finance, in the course of the Budget debate in the Empire Council, saiil that since the beginning of the war the national savings had increased by £200,000,000, despite war charges amounting to £1,200,000,000. Thanks to the abolition of the alcohol monopoly, the country's financial strength was growing. The Government must work out a plan for the future economic policy of the country, eo-operating with a National Legislative institution.

SPAIN EVINCING FEELING. LONDON, April Hi. Tliii Times' correspondent at JSla<lri< 1 savs that the war has been brought j home to Spain in the most direct | fashion. Previous 'incidents such as the shooting of Spaniards in Belgium have 'been smoothed over by regrets and an indemnity, but the Government and public opinion have been thoroughly roused by the death of Sen or Granados iu the Sussex and by the sinking of the Vigo and Santandarino. The Spaniards have welcomed German prisoners and have given German propagandists the fullest liberty, and hitherto have 'been completely neutral. Now a section of the Liberal Press hotly resents the insult to the national (lag and is demanding that the Government- vindicate the dignity and rights of Spain. This seems to be the predominant feeling in the country. Twelve of the chief shipping companies have sent a memorial to the Government threatening to sto|> their sailings unless Lliey receive a guarantee against the submarining u |' their vessels. Already there is a shortage of tonnage, and any further reduction will mean that there will be widespread distress and proba'bly grave disorder. The German Ambassador has formally denied that the Sussex was torpedoed. Kenor Komanones may be entrusted to insist upon a solution consistent with the country's dignity. The means are available, there being 130,000 German subjects in Spain and a splendid AustroGerman mercantile fleet, totalling 250,000 tons, sheltering in her ports. At the recent conference of German bankers the Ministers of Finance declared that Germany would impose an indemnity of at least 50 billiards of marks,

MANUFACTURE OF MUNITIONS. MOW YOUK, April Ili. A representative of the I'ierpont .Morgan firm, after a visit to Britain, do-' dares that the immense supplies of i munitions ordered froin America early | iu the war will not be continued, be- j cause England and France are now j manufacturing ou such a scale as tu bo' independent of the United .States, j He adds that the European countries | will themselves do the reconstruction I work after the war, converting muni- j tion factories for that purpose. GREECE. ATHENS, April It!, j The British '.Minister to Greece, interviewed by tlio paper Nea Hellas, said that if Greece had properly watched her own waters around her coast the need for transporting Serbian troops over the Greek railways would never have arisen. MY Klliot emphasised the fact that (lie transport of Serbians across Greece was due exclusively to the submarine danger, and the sovereign rights of Greece were in nowise prejudiced. COMPULSION. LONDON, April IS. The Cabinet crisis has reached a critical stage. It did not arrive at a decision satisfactory to Mr Lloyd George, who continues to demand the compulsion of married men. ' ARMY COUNCIL'S STAND. LONDON, April 18. The Army Council continues firmly to demand the compulsion of married men, despite the fact that LUr Asquith and the sab-committee of the Cabinet are maintaining that the committee 'a recommendations are sufficient.