22 JULY 1916, Page 2

In the House of Commons on Monday Mr. McKenna stated

that our expenditure for some time had been over £6,000,000 a day. The increase of £1,000,000 a day over the estimate was due to causes which he had been " unable to foresee and over which he had no control." His borrowing powers would be exhausted by the following Thursday—that is to say, last Thursday—and it was therefore necessary to take more than one stage of the Finance Bill at the sitting and send it to the Lords on Monday evening.