Mr. Asquith - Made a long and important .statement on the finance
of the war. In asking for a further Vote of Credit for £250,000,000, he gave detailed statistics as to the cost of the war. The net expenditure per day from April 1st to the beginning of July was at the rate of 22,700,000 ; from July 1st to 17th it was £3,000,000; from July 17th to September 11th it was rather over £3,500,000, and the rate was still rising. The disbursements from the beginning of the financial year April 1st till September Ilith were as follows : Army and Navy, £371,700,000; repayments to Bank of England, 250,000,000 ; loans to Foreign Governments, £30,000,000; loans to Dominions, £28,000,000; miscellaneous, £20,000,000. The item of loans to Foreigu-Governments only represents sums initially advanced. Our ultimate liability on this score is already £250,000,000.
