RUSSIAN WAR EXPENDITURE.

Clutha Leader, Volume XLIII, Issue 5, 18 July 1916, Page 8

RUSSIAN WAR EXPENDITURE.

Tbe enormous military, efforts erf Russia have demanded from the commencement of the wwr til January 1, 1916, the expenditure on .military "meeds, of avftroxinia'telv £1.118,000.000. * These figure, show s'gns of still further expa us-on. At the beginning of the war they iiinounted t<> £844,000 a day, . hut giadunllv increased, and at the end oi 19.15 reached £3,270.000 a. day. In France they have reached of late £2,850 000 a day; in Britain more than £4.960,000 a day; in; Germany, according to figures for August, when these disbursements had scarcely, reached their present dimensions, they amounted to £3,270,000. Basing calculations upon 1 past experience. it may he assumed' that Hur.s'an- war expenditure far the whole of 1916 will come to not less" than £1.266,000.000. The covering of these unprecedented outlays, of course,, goes beyond the limits of ordinary Sta>te resources, and. is posw'ble only f>y recourse to State credit. The Russian Government has managed to place upon the domestic market three long-term loans to the amount of £200,000,000, and one loan for 10 -years to the amoomt of £100,000,000. Exchequer bills circulated within the country amounted to oyer £70.000.000, and short-term bonds discounted on the market to £100,000.000. In a year and a-ha.lf Russia has succeeded in drawing from the internal pecuniary resources of the country £470,000,000.'