86 THE GREAT WAR 



of consideration, it will be impossible to do so. 

 We have already 1 added to the National Debt 

 about 900 millions sterling, and are now spend- 

 ing for war purposes about 3 millions sterling 

 per day. There is, therefore, on the face of it 

 good grounds for the opinion that further sums 

 could not be raised for land purposes. The 

 writer disclaims any right to speak as a financial 

 expert, but it seems to him that on examination 

 of the resources of the country the financial 

 difficulty could be met, especially as the money 

 would only be wanted in instalments as the land 

 operations progressed. 



The following remarks are interesting and 

 instructive, and were published by the " Econo- 

 mist " on February 20th, 1909 : 



" The amount of British capital invested abroad is 

 3,050,000,000. This amount invested abroad is esti- 

 mated to represent about 20 per cent of the total capital 

 of the United Kingdom. It follows, therefore, that 

 15,000,000,000 may be taken as the total capital of 

 the Kingdom." 



Mr. Lloyd George, in a statement made on 

 May 21st, 1909, apparently adopted the figures 

 given in the " Economist." 



1 June, 1915. 



