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balance-sheet will be a year hence on the same basis on which he had
calculated ours
Mr Bonar Law then proceeded to give an estimate of what the German
balance-sheet will be a year hence on the same basis on which he had
calculated ours. With regard to our position, he had calculated that
on the present basis of taxation […]

certainty, but the Chancellor was able to tell the House that the last
German Vote of Credit, which was estimated to carry them on to June or
July, brings the total amount of all their Votes of Credit to L6200
millions, and that it is at least certain that that amount has been
added to their War Debt, because […]

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of our financial position
Getting the currency right is a most important matter for the future
of our financial position. Another is the question of our debt to
foreigners. Most of this debt we owe to America, and we only owe it
because we had to finance our Allies. We surely ought to be able to
arrange with America that […]

a Larger in Expenditure–Comparisons with Last Year and with the
Estimates–The Proportions borne by Taxation still too Low–The Folly
of our Policy of Incessant Borrowing–Its Injustice to the Fighting
Men
The Figures of the National Budget–A Large Increase in Revenue and
a Larger in Expenditure–Comparisons with Last Year and with the
Estimates–The Proportions borne by Taxation still too Low–The Folly
of our […]

that have been issued, split, consolidated or renewed without Treasury
sanction since January, 1915, were not to be dealt in, in future,
without a licence
More serious, however, was clause (1)(e) under which any securities
that have been issued, split, consolidated or renewed without Treasury
sanction since January, 1915, were not to be dealt in, in future,
without a licence. The […]

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borne by taxation, the effect of this measure would have been that
everything which was needed for the war would have been placed at the
disposal of the Government by a reduction in spending on the part of
those who have the spending power
Had the Government laid down that the whole cost of the war was to be
borne […]

British public had any grasp of the fundamental truths of economic
science they would know that a future of boundless wealth and
prosperity is theirs
In his article in the June _Supplement_ he told us that ‘if the
British public had any grasp of the fundamental truths of economic
science they would know that a future of boundless wealth and
prosperity […]