licvicv of Beviews. i/i/13. PROGRESS OF THE WORLD. 



tr 



annually, paying for ever}-thmg out of 

 revenue. She does not need to borrow. 

 Wlien we think of other countries we 

 cannot but wonder how long they can 

 continue this fearful race in arma- 

 ments. France, which authorised an 

 expenditure of ;^30, 000,000 over and 

 above her ordinary commitments, has 

 m addition actually to meet a deficit 

 of £^12,000,000 on this \'ear's budget, 

 (iermany's fleet has been built on bor- 

 rowed money. Italy's financial re- 

 sources have been heavily strained by 

 the war in Tripoli, and she borrows to 

 build more Dreadnoughts. Japan, taxed 

 to an almost unendurable extent, is 

 borrowing a large part of the 

 i, 36,000,000 she has just voted vv'ith 

 which to build eight Dreadnoughts, 

 four battle cruisers, eight scouts, and 

 forty destroyers. China, although not 

 requiring the mone\' for armaments, is 

 being allowed to raise ;^2 5,ooo,ooo on 

 loan. A regular debauch of borrow- 

 ing ! 



Australia, Too. 



Nor is Australia behind the rest, 

 though, fortunately, the money she re- 

 quires is to be spent on something 

 better than v/arships and guns. Still, 

 it is hardly surprising that some diffi- 

 cult}' is found in raising the wind in 

 England just now. Unfortunately, the 

 investor at home has little knowledge 

 of Australia. He does not knov^^ the 

 names even of all the States, much less 

 their individual peculiarities. As far 

 as he IS concerned, Australia is not 

 only federated, but unified. This is 

 hard on those States which have not 

 transgressed so deeply as others. 

 Just now the British public will be won- 

 dering when the procession of bor- 

 rowers from the antipodes will cease. 

 Mr. Scaddon from West Australia, Mr. 

 Peake from South Australia, Mr. Watt 

 from Victoria, Mr. Holman from New 



KING OO'NSTANTINE OF GREECE. 



South Wales, Mr. Allen from New 

 Zealand, ha\e all arrived in Great 

 Britain m quick succession, and prac- 

 tically all with the fell intent of return- 

 ing home with several millions of John 

 Bull's hard-earned cash. Mr, Allen's 

 chief object is to discuss defence, and 

 to induce a reluctant Admiralt}' to agree 

 to New Zealand creating a fleet unit 

 instead of contributing to the British 

 Navy as at present. But no doubt he 

 will be sounding tlie financial market 

 now he is in England. 



Assassination of King George of Greece. 



The whole world was shocked when 

 the news of the assassination of King 

 George flashed across the wires. The 

 King was walking unguarded, as was 

 his custom, down a street in Salonika, 

 when he was shot dead b}' a drunken, 

 half-witted degenerate, half-Greek, 

 half-Slav, named Alexander Schinas. 

 Thus, when his fortune was at its 

 happiest, when after a tr}'ing and tem- 

 pestuous kingship he saw his country 



