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ESTIMATED EXPENDITURE £535,000,000. ) GREATEST OUTLAY IN HISTORY. | BEER AND TEA TO PAY MORE. ; 2,000,000 MEN UNDER- ARMS. [ A SMASHING DEFEAT NECESSARY. LONDON, November 17. 5 The Chancellor of tho Exchequer, Mr "■ Llovd Georee, estimates that the year's expenditure will ho £206,924,000 in ad--1 dition to £328,443,000 war expenditure. 1 Tho probable deficiency is £339,571,000. 3 The first vcar of tho war ho ox- : pected would cost at least £450,000,000. j Tho largest .sum Groat Britain had 1 ever previously spent on war in a single year was £71,000,000. The beer dntv would be increased by ' Jd per half-pint, and the tea duty ,in- " creased bv 3d por lb. There is no extra " whisky tax proposed. The British ex- * penditure is higher in proportion than 1 anv other country. " Great Britain already had at least 2,000,000 men under arms, and it was 9 confidently anticipated that there would he 3,000,000 in a few months. Separation "allowances (to soldiers' families) alone would then cost £65,000.000. " During the war industries will bo £ enormously occupied. The country will a havo to faco the most serious industrial situation it has ever confronted. Wo will have exhausted an enormous amount of the world's capital, and our purchasers at Home and abroad will bo crippled. It is therefore desirable to raiso as much by taxation as possible during the trado inflation. The Government will not levy taxation t which will interfere with any produc- ,. tivo industry. We are fighting an r enemy which, unless subjected to a >f smashing defeat, will not submit to the if terms which we could prudently aee cept." Mr Llovd George said tho tea duty wonld produce £32,000,000 next voar, and beor £17,000,000. The countrv's income at present was £230,000,000, whereas in Napoleonic times it was only £25,000,000. If wo rose to tho heroic level of our ancostors wo would now be raising £700,000,000 annually. The Chancellor, who was generally cheered during his speech, said in con- ® elusion that ho hoped the chief result : of the war would be an all round re- * duction in armaments. The resolution was carried, e . '• THE PRESS APPROVE, e LONDON, November 18. fc Tho newspapers generally approve of 3 the War Budget, the burden of which l " is well spread. I. - COST OF THE WAR. » LONDON, November 17. e The cost of tho war to Great Britain s last week was £12,755,000, which is :» the highest on record. NO INTERJSST TO SALA.LL STATES. (London ' Times' and Sydney ' Sun' Services.) LONDON, November 17. it Mr Asquith states that it is not pror. posed to charge Belgium and Servia init terest on their loans, and the Governp ment will see how to deal with tho n matter at the end" of the war. Besides k|2OJDOOuOOO drachmae raised ia Paris*

| England has advanced ' the Greek | Government 40,000,(X)0 drachmae for tho payment of .warships to be constructed in Groat Britain. (Tho total advance to Greece is £2,500,000.) THE WAR, LOAN. LONDON, November 18. (Received November 19, at 8.45 a.m.) The Rank of England has agreed, up till March, 1918, to lend on the war loan at tho issue price without margin at 1 per cent, under the hank rate. This means that the stock will not fall below £95. OTAGO PATRIOTIC AND GENERAL WELFARE ASSOCIATION. The hon. treasurers of the Otago Patriotic and General Welfare Association acknowledge the receipt of the following donations to the fund ;

BRAVE BELGIAN SEAMEN. Not on land alone are the Belgians proving themselves worthy allies of Britain, for the story of the boatswain of the collier Dawdon shows that tho fact that the seven survivors were saved was due to tho crew of the Belgian smack Silver Cro-s. The boatswain (Robert Marshall) stated that he was at tho wheel steering when the vessel struck the mine. The effect was appalling, the whole of the steering gear being shattered, and Marshall could not account how he escaped death from flying wreckage. Before the survivors could reach the lifeboats they were carried away by the, suction caused by the vessel foundering in less than five minutes. Marshall, who is an expert swimmer, kept himself afloat for three hours. Ramsay, the second officer, shouted to him to push some wreckage to him, which he did. but he did not see him again. It was a beautiful moonlight night when the Dawdon went down, and he saw the majority of the crew swimming about, but could not tell their names. When hauled aboard the Silver Cro?s he told the fishermen to get out their boat, which picked up the remaining six swimmers. But for the rescuers' gallantry all must have perished. One of the crew (George. Hill, hailing from Dover) perished from exposure. Marshall said that these Belgian fishermen behaved splendidly, giving the crew all their spare clothes and unlimited quantities of tobacco. Nine men were drowned, including tho skipper (Steel).

Previously acknowledged £15.485 15 2 John Fenton 5 5 6 John Fenton 5 5 0 Queenstown Patriotic Committee 20 10 0 .St. Clair Life-saving Club (proceeds of carnival) ... 6 0 0 All Saints’ Sunday School Speight and Co.’a employees (13th contribution) 3 14 6 10 0 0 Mosgiel patriotic, meeting 58 13 7 Mosgiel patriotic meeting 58 13 7 Miss A. Buckley 1 0 0 Miss Bae 0 10 n 51. Dixon 0 10 0 M. Dixon 0 10 0 C. Browning 0 10 0 C. Browning 0 10 0 Berwick concert and dance 9 0 6 — Dowdall 5 0 0 R. 8hennan 2 0 0 J. Shennan 2 0 0 Miss Henderson 1 0 0 Withers Bros 1 0 0 Onv Scott Hamilton 1 1 0 Citizen 1 0 0 C. Lval! 0 10 0 J. Heenan 0 10 0 Thos. Keenan 0 10 0 51. C. M'Kav 0 10 0 X. Boss 0 10 0 J. 51 ‘Donald 0 10 0 H. George 0 10 0 1. Robinson 0 10 0 Smaller sums 2 7 6 £15,635 15 10

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THE BRITISH BUDGET., Issue 15654, 19 November 1914

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THE BRITISH BUDGET. Issue 15654, 19 November 1914

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