THE WAR AND FINANCE.

Grey River Argus, 31 October 1916, Page 3

THE WAR AND FINANCE.

BRITAIN'S GOLD. CAUSES UNEASINESS IN UNITED STATES. BRITISH PROMISES TO PAY BETTER THAN GOLD. (Australian and N.Z. Cable Assn.) NEW YORK, October 29. Britain's insistence on paying for American purchases in gold is causing uneasiness in financial circles, I which ' are beginning to favour the granting to Britain of a long-term loan without security, similar to the j receit Anglo-French loan. .- The gold payments for British purchases in America in 1916 reached The Americans fear that Europe will nnd an additional monetary unit leav'ng the United States with great stocks of gold wherefor there will be depreciated demand. In this unique situation &c Americans prefer British 1 promises to pay rather than gold. THE COST OF WAR. MAMMOTH VOTES. AMSTERDAM, October "an In the Reichstag Count von Roedcrn. Minister for Finance, in moving a vo u e of credit for £600.000.000. ""said that the war creaks hitherto 'passed tho amount of £2,000,000,000. The fifth war loan of .£ 15267000.000 had abort a. 000,000 subscribers. The total expenditure' of all the belligerents -was estimated at .£12,000, 500,000, of which ono-ihird fell on Germany and her allies. The vote passed despite onnosition from the Democratic Labour Union. AUSTRIA'S WAR EXPENDITURE LONDON, October 20. TV>e y e is n.n agitation in Vienna for Vn rarly meetijjp- of Parliament, in ct- ■ dcv to discuss the large war eypendis +uro. thp supniv and distribution of food, and possibly peace prospects.