THE COST OF THE WAR,
London, June 5. Sir M. Hicks-Beach, Chancellor of the Exchequer, stated in the House of Commons that it was intended in 1903 to devote the' estimated surplus of ten and a-half millions to the reestablishment of the Sinking fund and the reduction of the floating debt. Parliament would hereafter be asked to guarantee a colonial loan to cover the cost of resettlement, the conversion of the new colonies' debt and the acquisition of railways. Sir W. Y. Harcourt approved of the proposal, and the Loan Bill was read a third time.
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New Zealand Herald, Volume XXXIX, Issue 11986, 7 June 1902, Page 5
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96THE COST OF THE WAR, New Zealand Herald, Volume XXXIX, Issue 11986, 7 June 1902, Page 5
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