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BRITISH EMPIRE AT WAR
the country (including the pre-war indebtedness) will be seventeen thousand two hundred million dollars ($17,200,000,000), which includes at the same date four thousand million dollars ($4,000,000,000) advanced to Allies and Overseas Dominions. Deducting these advances, Great Britain's total national indebtedness at 31st March 1917 will be thirteen thousand two hundred million dollars ($13,200,000,000), or a little more than one year's national income. This and a greater burden can, if necessary, be borne.
The cost of the war up to date has been defrayed by:
- Long-Time War Loans.
- Short-Time Borrowings.
- Increase in Exchequer Revenue.
