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WAR FINANCE AS IT MIGHT HAVE BEEN–I
Financial Conditions in August, 1914–No Scheme prepared to meet the
Possibility of War–A Short Struggle expected–The Importance of Finance
as a Weapon–Labour”s Example–The Economic Problem of War–The
Advantages of Direct Taxation–The Government follows the Path of Least
Resistance–The Effect of Currency Inflation

that general rise in prices, which is in effect an indirect tax on the
necessaries of life, involving all the injustice and ill-feeling which
arises from such a measure
The consequence of the profligate use of this dishonest process is
that general rise in prices, which is in effect an indirect tax on the
necessaries of life, involving all the […]