NAVAL PRIZE' MONEY.
A TOTAL OF £4,420,372. Replying to Lord Beresford m the House of Lords, the Civil Lord of the Admiralty (the Duke of Devonshire! said the policy of the Admiralty Avas to see that naval prize money should be distributed m the most equitable manner possible. The total amount .of prize money held by the Paymaster-Generai Avas on the 10th of May £4,420,372. Jn addition, there was money m the hands of the Indian and Colonial Counts. The Government had the full use of this money, and were utilising' it m the. most econoniical.wav. The number of enemy ships detained" m home and colonial ports Avere -upwards- of 200. These ships, -.vhere possible, were being -usefully employed, and no money Avhich they earned as freight would' go to the enemy , after the war. Oh account of various technical and practical difficulties, the prize money could hot be distributer! until after the* cessation of hostilities. It was not yet settled, but his own opinion Avas that the interest which waa. being earned on the prize money should follow the capital m the ultimate distribution.
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Bibliographic details
Poverty Bay Herald, Volume XLIII, Issue 14053, 25 July 1916, Page 8
Word Count
185NAVAL PRIZE'MONEY. Poverty Bay Herald, Volume XLIII, Issue 14053, 25 July 1916, Page 8
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