Mr. Asquith's criticisms on the third reading of the Finance
Bill in the House of Commons last week drew from the Chan- cellor of the Exchequer an optimistic speech. He professed himself confident that the Budget estimates would be realized. Moreover, the Government were resolved to make further economies and had set up two Cabinet Committees to bring pressure to bear on the departments. In reply to. Mr. Asquith's suggestion that £1,137,416,000, raised by the sale of surplus war stores, should have been applied to the reduction of war debt, he said that that vast sum was required to meet war liabilities, apart from pensions and interest on debt. It would have been foolish to pay off debt with the money and then borrow afresh. But Sir Robert Home hardly faced the real charge; namely, that the Government did not begin to practise severe.economy as soon as the war came to an end.
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