ENORMOUS WAR EXPENDITURE.

Poverty Bay Herald, Volume XLV, Issue 14703, 7 September 1918, Page 3

ENORMOUS WAR EXPENDITURE.

(Australian and N.Z. Cable Association J (Received September 7, 8.55 a.m.) NEW YORK, Sept. 6. The Times' Washington . correspondent states: The war expenditures for the month of August totalled more than one billion eight hundred and six million dollars. TWO BILLION DOLLARS A YEAR. AFTER-WAR EXPENSE. LOAD INSIGNIFICANT COMPARED WITH GERMANY'S. WASHINGTON, July 27. Taxpayers of. the United States must expect to provide something like ''a | couple of billion dollars m revenue annually" when peace comes. Based on the present estimated oost of the war, the Treasury Department officials to-day declared after-thc-war Government expenses would be more than double prewar expenditures. But the apparently gigantic task of laising £400,000,000 each .year;, beside? the interests on loans made to our associates m the war, is not regarded as insurmountable. When compared to the the' great financial problem faced by Germany, this Government's expenses after Hhe war will sink. into insignificance. ' ' The German public debt now exceeds £6,000,000,000. With compared earning oower, the Teutonic peoples must pay approximately fiV-OOOjOOOjOOO m taxes each year after the war. Tlie Germaii Government has drained its people of; gold, jewels and heirlooms, and' with all of that the Imperial Bank canned less than £100,000,000 m gold stocks, has made no especial effort to get gold, yet it has now more than £500,000,000 m gold coin and bullion. j