THE COST OF THE WAR.

New Zealand Herald, Volume XXXVIII, Issue 11581, 20 February 1901, Page 4

THE COST OF THE WAR.

If wars are not fought with rosewater, they are nevertheless fought with very costly material, particularly when one pays one's way even in commandeering. The Imperial Government has some very heavy bills to meet as a result of the South African complications, and tea importers evidently consider that new taxes will be imposed, and that the " free breakfast-table" is farther off than ever. To-day's cable informs us that no less than 150,000,0001b of tea have been taken out of bond, which movement, if a twopenny duty is imposed, the Imperial Government loses considerably over a million sterling. This indicates not merely the amount which the Government will have to raise, but( the money-raising capacity of the United Kingdgm. War-bills, which would crush weaker States, can there be borne with comparative equanimity. It is well that this is so, for it is estimated that £100,000,000 will not cover the cost of the South African, Chinese, and Ashanti wars. This last little war, lost sight of in the dust of greater struggles, has been desperate, prolonged and somewhat expensive. Fortunately, during the past two years, there have been surpluses on the ordinary expenditure reaching over £20,000,000. But while the ordinary surplus avoulc! more than meet interests on the various loans which have been issued, it is the wise policy of Britain to keep the national debt as much as possible within its present limits, and to contract even those limits as fast as can be managed without oppressive taxation. Consequently an increase in taxation will be required so as to extinguish the recently-incurred indebtedness within a few years.