CURRENT TOPICS

Southland Times, Issue 17732, 9 August 1917, Page 4

CURRENT TOPICS

'THE BELLIGERENT NATIONS, Fifteen nations are now in alliance at war against Germany and her three allies. After Vrni/elos formed his Provisional Government last year he declared war on Bulgaria ,and Greek Nationalists joined the allied forces in Macedonia: though there has not been any formal declaration, Greece has been officially declared to he in the ranks of the Allies. Most of the members of the Grea ! Alliance are at war with all the Central group, but the Unite'! States is at war with Germany only. Following is a list of the nations now at war, with the date of entry in each c;vse. ENTENTE POWERS. 1914. 1916. Servia, July 28. Portugal, Mar. !0, Russia, Aug. 1. Roumania, Aug. 28, France, Aug. 3. Vcnizelists, Nov. 24. Belgium, Aug. 4. 1917. Great Britain, Aug. 4. United Slates, Apl. 6. Montenegro, Aug. 7. Cuba, April 7. Japan, Aug. 23. Panama, 1915. Greece, June Italy, May 23. Siam, July 25. CENTRA!. ALLIANCE. 1914. Turkey, Nov. 1. Aus.-Hungary, July 28 1915. Germany, Aug. 1. Bulgaria, Oct. 5. The following have broken off diplomatic relations with Germany this year : -China, March 14; Bolivia, April 14; Guatrmulia, April 28; Liberia, May 9; Honduras, May 18; Nicaragua, May 19; Brazil. June 2; Hayti, June 19; and Santo Domingo. KITCHENER AND THE WAR. On the occasion of the third anniversary of the declaration by Great Britain of war against Germany on August 4, 1914, it is interesting to recall the late Earl Kitchener’s maiden speech in the House of Lords on August 25 of that year. Although the

great soldier had been a peer since 1898, be rarely had taken his seat in the Chamber, and he never spoke there before the date mentioned. It was in his first speech in Parliament that Earl Kitchener indicated his view that the war would last three years or longer. “My occupation of the post of Secretary of State for War,’’ he said, “i? a temporary' one. The terms of my service are the same ii.s those under which some of the finest portions of our manhood, now so willingly stepping forward to join the colours, are engaging—that is to say, for the war, or if it lasts longer than three years, then for three years. It has been a.-Vr- 1 why the latter limit has been fixed. Jt is because should this disastrous war he ; r r.'.ed —and no one can foretell wi'h a... c'rti.inty its duration—then after three y war there will be others fresh and felly ;- pared to take our places and sec this matter through.” WAR LOAN DEBENTURES. It has been announced by Sir Joseph Ward that I:i connection with the forthcoming v;; ir an subscribers will have the option of R.kir.g either l::r.r. r debentures or in.--crih.vl stack. Ever far.;: the first war loan tvivi issued it hes, been urged that inscribed stack wovLi r:;:.- vr the subscriber against loss of noev-;';; Is in a way (hat is impossible with be?.’-,r debentures. When debentures arc lost or eyed the owner can only obtain payment of interest and principal on giving a rntktactory indemnity, such as is obtainable from an insurance company. It is very rarely indeed that debentures arc lost, as nearly always they arc deposited with the banks for safe keeping. In the case of inscribed stock no debentures are issued, but merely a certificate that the person named therein is the holder of so much stock of the particular loan, as registered in the books of the Government. The loss of this certificate would, therefore, he immaterial. Inscribed stock, of course, throws a good deal of extra work on the Government in the way of book-keeping, a ledger account having to be kept in respect of each holder. Transfers might therefore be subject to stamp duty, whereas debentures pass by delivery.