MR LLOYD GEORGE ON FINANCE.

Oamaru Mail, Volume XLIX, Issue 13906, 6 November 1919, Page 3

MR LLOYD GEORGE ON FINANCE.

OWnrXDS THE CRITICS. (11l EI*UTKIC TII.3ORAPB CoPYttIOHT.J I'kh I'i-.ess Association. (Aus. and N.Z. Cable J .ssn.j i Delayed tn Transmission.) R.n-iv.'l November ■'). at S.-l-i p.m. LONDON. October 30. In the course of his reply the l'rimo M ni-t. [• expre-sed the opinion that the Ibr.ivl'er had knocked the bottom out ■-■;' riv . of his critics. He etupha-•c.-il tiit'ir disagreement a- to where r^trt-i!I sji.-iiid start. The great-.--xpt'i-.di: ure wa- tor the Army and Vr.-y. aiui he pointed out that the Navy vo-ilrl [>r. -I'ntlv only be h pre-war navy, ■i.-.fi it wmtlil be less at the etui oi tile

Dialing -.vitli details, in regard to the el tin- personnel of the Army. Viw. .ti:11 Aii Force. Mr Lloyd George l dtc previous forecast lor Mwtt :*.U; v.as for S2-">.000 men. Actuivouid bo only HOn.OfiO. Next e v.otild be a substantial turtle reduction of the debt. The

■ i-:<11> for the liquidation of the debt ■i" i"v \ear- was nne of tile most niagin concerning inter••r.otuil liability ever advanced, and *3- ! a ti--«tijrion*!- to British courage and

Mr Lloyd George said the Govern-m-'tu find established pensions amountpi :n £!2.\ono.ono annually. There Kvn exceptional changes in the :"rfn; year. owing to abnormal diffiThe British Army had been '''W -scattered over the world rhan any 'ter ;irn;v.

In r.ply tii ijiierv. Mr I.loyd George fur: Britain had evacuated Ar--,i economise. She was unable to the world. and he honestly other Power? ought to -i.-r,- tr. Then the Go'■rmyci,; was criticised lor not de'Wß.nsjn-; more quickly on ihe grounds ;-i'- :!!•-, sii,".v Germanv would sign TV.-: v. 'On ;':e contrary." Mr Lloyd George Conference did not know till that Germany would "beii >he only signed because Britain had maintained reserve divisions in France. ■J-'-y t.-r tht» eventuality and With *5-'' n :, ' r,v Mar»hal Foch was prepared •" l»orlin. Without this un-fiin-e. we should have sub- ] fer deficit. and thrown ; ;i tlie terrible sacrifice to make '" ,N in 101 ft. Any Go-ftom-r this wr.uid have de-,:"pr;s.-inrr!eiit. and undoubtedly .t'" 1 the way in which we are financial difficulties:." Mr •l-;' 1 l, " 0r -'' adtie. "Britain need not '.v.'* with any country in ' r: • Conscription in Germany r.r.ii her Navy i> at the bot- ■ :; c sea. This significant fact . ~ r iitids for confidence in the ' :Z" . <.">:hty of the future. Bri't'.". .• I!"- weather this storm, as : every other. Neverhop«'d that tb.e econo,::;;'i '■■ i t deny the expenditure o!ije, t.s essential to the ; : L ' . Kdueation for war had '. r - ; "'i-tr;iter' the value of techv, i ,: eorge urged that the ' 'li;]" rr ry was increjised produc- £!'*' d*"-nreelation of the sove-

:u P rrs,, "t tln> heaviest tax. r '" was production. 'JW oniv by the f-o----•i; 01 a ••untented people. it " cwatest folly to uree the «e.s- - r" ' on the health, ■s'ytraining of the people f - prepare*l to Mierifiee on the battlefields for the r,V''rr ll! ''. T Wwl. - T - H. C'iynes tlien moved deelarinjr that the preE>»~li'. vv:lr expenditure was nndrastic economy, and J'- a Isw on capital, and the Villi" t ' lf " State of war fortunes, : T . P ur nose of reducing the na=aid the Labor Party ' ---- iiia; the financial situation

wa« so extraoldi nary as t-o call lor j extraordinary measures. He urged that j

an inquiry should be made into the question of a capital levy. .Mr Bonar Law, winding up the debate. referred io the amount due from Germany for the upkeep ol the army •>f OLvupation. Tins, the first instalment ol the German debt., would undoubtedlv be obtained. As regards Britain's' f* .000.000.000 debt, certain items should be a set-ofi against it. The Allies owned Britain over CT.000.000.000. Then the Dominions owed Britain £200.000.000. and India, owed her L"221 .ODO.OtIO. bringing down the debt io less than £7.000.000.000. Furthermore. Mr Bonar Law said he did not think Russia's would always be 11 bad debt-. As regards the German- indemnity. lie was confident- that Britain would get a considerable sum to redine her debt. Sir Donald McLean asked permission to move an amendment on the Labor amendnieni.

The Speaker ruled it out of orde

Sir D. McLean regretted that he and his colleagues were unable to vote against the Government, because- they could not enter the lobby with the Laborites. unless the inquiry was held before the capital levey was recided.

The House rejected the Labor amendment by 40") votes to -50. the minority being almost exclusively Laborites. The Government resolution was then adopted unanimously.