MOTHER COUNTRY

Lyttelton Times, Volume CXVII, Issue 17862, 7 August 1918, Page 7

MOTHER COUNTRY

NATIONAL EXPENDITURE. LONDON, August 5. In view of the criticism by the Committee of National Expenditure, a lively debate on the Information Ministry’s vote is anticipated in tho House of Commons to-day. "

IRISH AFFAIRS

LONDON. August 5,

The police did not interfere in connection with over a thousand Gaelic Sunday athletic meetings in Ireland yesterday.

PEACE QUESTIONS. NO OVERTURES FROM ENEMY. Reuters Telegrams. (Received August 7. 1.10 a.m.) LONDON, August 5. Replying to Air 11. B. Lees Smith, Air Balfour staled that nobody had been authorised to act on behalf of any enemy Power in the recently made peace proposals. Tho Government had received no communication from Britain’s Allies that such proposals had been submitted to them.

AIR RAID ON LONDON. ENEMY’S EFFORT FAILS. Reuter's Tolerrams, (Received August 7, 1.15 a.m.) VANCOUVER, August 5. A message from Loudon reports an unsuccessful air raid.

THE FINANCIAL PROBLEM.

(Received August 7. 1.15 a.m.) LONDON, August 5. Lord Inohcape, in the House of Lords, drew attention to the financial situation. Ho said that a high income tax retarded the development of tho country’s resources. Germany’s finances after the war would bo worse than Britain’s, but that was small comfort. He estimated that if the war ended in March-Britain’s debt would be at least £6,000,000,C00, necessitating an annual payment of £'530,000.000, and making a total annual expenditure of £700,000,000. But the war must be continued until the enemy accepted the Allied terms- “Wo are now living in. a fool’s paradise. The nation must produce and export more and consume less.” Though the country possessed great recuperative capacity, lie. feared that tho British people must go through a long period of self-denial and sacrifice.

Lord Faringdon said that if the nation was to remain solvent many of the contemplated post-war schemes must bo set aside. Ajiy attempt to penalise wealth or to interfere with the sanctity of capital would bo disastrous. Be concluded by saying that the Bolshevik repudiation of Russia’s debts had ended in the starvation of the Russian people. Lord Curzon said that he was afraid that it was unwise to attempt to go forward too fast with a too ambitious after-the-war programme, but he expressed tho opinion that the Government of the day would bo swept off its feet by the persistent demand for the rebuilding of tho shattered world.