GENERAL SMUTS.

Grey River Argus, 4 March 1918, Page 4

GENERAL SMUTS.

(Rec. March 3, 5.20 p.m.) LONDON, March 2 f j General Smuts has returned to Lon-j don. INDIA'S FINANCIAL! STRENGTH HOME REMARKABLE "FIGURES (Rec. March :?, 5.20 p.m.) DHLHI, March 2. Sir William Meyer presented the annual Financial Statement in the Council. The year closed with a surplus of live and three-qurters millions. ! l'his was due to favourable monsoons, and a record growth in railway receipt; but this is counter-balanced by increased military charges now totalling nearly twenty-nine millions. It has only been possible to meet the heavy demands on the resources of the Government in financing the war, by the success of the war loan, which brought in thirty-live niilli< -is; and by Indian Treasury Bill issues, which are expected to total about thirty million by the end of the year. During 1917 the Government put 32,000,0CK) into British Treasury Bills, making a total since the beginning of the war, so invested, of 67,000,000. These figures are independent of. India's special contribution of a 100---000000 to the Imperial Government. The estimated revenue surplus for 1918-19 at two and a quarter millions is indicated. It was not intended to increase taxation. It is proposed to raise a further war loan of unlimited amount. It is claimed that the. war has brought out India's financial strength in a remarkable manner.