Excellent was Lord Cromer's dissertation on the theme that efficiency
and economy go together, and not efficiency and profusion :— " He did not mean to say that any economy should be effected which would impair the capacity of this country to continue the war vigorously. In fact, the only real chance of a rehabilitation
of the finances of this country and of the rest of the world lay in continuing the war to the bitter and, in crushing ICaiserism.'"
Lord Croiner ended his speech by declaring that if all he heard were true, the waste both at the Admiralty and the War Office had been perfectly appalling. With regard to revenue, although a Free Trader, he was strongly of opinion that the time had come when indirect taxation ought to be imposed, and the least objectionable form of indirect taxation would be a low duty on all imports, whether manufactured or unmanufaotured, raw material or food.
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