JOHN BULL'S WAR BILL.

Lyttelton Times, Volume CXVII, Issue 17394, 3 February 1917, Page 12

JOHN BULL'S WAR BILL.

"COLOSSAL BUT NOT APPALLING." £5,710,000 A DAY. [IfyOM Ona OOBBKSPONDENT.] LONDON, Deoember 15. Though the vast majority of British people refuse to look upon the German peace offer as anything more than a crafty manoeuvre to bring about disunion among her enemies, it seems pretty clear that in some of the neutral nations it has been accepted a s a sign that the Huns and their abettors have lost all hope of dictating terms as victors. Several of tho leading Dutch papers, for example, do not hesitate to say that Germany's latest peace move is'the sincerest. confession of her failure. Be that as it may, it is quite evident that ninety per cent of English people, though longing ardently for peace, will not listen to any proposal savouring of " peace at any price." Hero and thero you may come across people who would bo ready to make peace on terms that would be a confession that tho Allies despaired of ultimate victory, but the nation ns a wholo is solid in support of the policy enunciated by Mr Asquith long ago. The then Premier'said:— "The ends of the Allies are well known; they are not selfish ends, they are not vindictive ends; but they require that there shall be adequate reparation for the past, and adequate securiy for the future." Last night in the House of Commons, Mr Bonar Law repeated Mr Asquith's words, and added, amid cheers, "That is still the policy, that is still the determination of his Majesty's Government." Our pacifists have been calling upon the Allies to put forward their terms of peace for German consideration. Mr Bonar Law lias, in effect, tabled our terms again, and Britain's terms are her Allies' terms. Germany haß given no official indication of tho terms upon which sho is prepared to sheathe tho sword, but it is quite clear from the articles that have been allowed to appear in the Press of the Fatherland that tho Germans have not at present any idea of concluding a peace involving "adequate reparation" to anybody, or a peace that will mean security to Germany's neighbours from future aggression. Whether, indeed, Germany will make any definite proposals in connection with her present "offer" is rather more than doubtful The "offer" has met with such a cold reception from the Allies that the Kaiser may well conclude that it. is useless to proceed further in the matter. BRITAIN'S FINANCIAL STRENGTH. Meanwhile, Mr Bonar Law, in his new role of Chancellor of the Exchequer and leader of tho House of Commons, has contrived to give Germany and the world at largo " a strong tip' as to Great Britain's ability to "carry on." And, incidentally, he has provided some food for thought for those in Europe and elsewhere who seem to think that John Bull is not bearing his full and fair share of tho Allies' war burdens. Last night in tho Commons Mr Bonar Law moved his first vote of credit for the trifling sum of four hundred million pounds. After stating the total British expenditure on the war since its outbreak—which he put. at £3.862.000.000 Mr Bonar Law observed that the figures were "colossal, but not appalling." And then he added that he had always held the view that this was not a war which could be continued indefinitely, as, for the ISapoleonic war. which went on from year to year, n,s if it, would have no ending. This was a war in which everything had to be thrown in to slecure a decision as soon as possible. But though such an expenditure could not go on indefinitely, he was sure that Great Britain could stand it "long enough to beat the enemy." and long enough to onsuro that the war should not stop from financial causes alone. £5,710,000 A DAY. And now for tho figures I Tlie daily cost of the war has been: . £ During the last 63 clays . . .. 5,710,000 During the previous 77 days . . 6,070,000 Mr Bonar Law admitted that it was "an enormous, increase," but Air M'Kenna subsequently said that much of it was due to the fact tbat large sums expended in the United States during the last sixty-three days ought to have been brought into the accounts earlier. So he put the current daily average at about £5,500,000.

The causes aro two-fold. There is, first, the ever-increasing supply of munitions, to which Mr Bonar Law pointed as a striking proof of the vitality of the country. He described the difference between tho daily output now and tbat of June, 1915, as "almost incredible." Secondly, the loans to our Allies keep increasing, and have shown in tlie last sixtyi-three clays under review an increase oT £400,000 a clay. Our dominions, he added, amid IcAid cheers, are now able to finance themselves. Tho table of votes of credit is interesting.

In the Budget estimate for the current year the expenditure was put bv Mr M'Kenna at £1.600.000.000. It is already (with the new vote) £1,750,000,000, and as that will only last till February 24, another £200,00*0,000 will be required to carry on till the end of the financial year. Hence the total for the year is likelv to be £1,950.000.000. or £350,000,000 more than the last Chancellor of tho Exchequer's estimate. Such are the figures, so vast that to the ordinary intelligence they are almost meaningless, and which have long passed far beyond any hypothetical level with which financiers concerned themselves in pre-war days. In these figures our crities may at any rate find a telling reply to their question. "Is Great Britain shouldering her fa,ir share of the Allies' war burden?"

hi 1015-lfi In 1916-17 (including the latest vot?) .... - . 3G2.OO0.0O0 1,420,000,000 1,750,000,000 Total Additional expenditure durin<r the war, estimated at . £3,532,000,000 330,000,000 Grand total . £3,862,000,000