GREAT BRITAIN: Fight Figures

Great Britain last week totted up how much it costs to fight Adolf Hitler, found if September’s weekly peak expenditures of £70,000,000 were maintained the year would close with Britain £3,570,000,000 “out of pocket.” To make up the difference between £70,000,000 weekly outgo and estimated tax revenues of £30,000,000 weekly, £20,000,000 was coining in from subscription to war issues, £10,000,000 from sale of gold and securities abroad and the rest from customers’ deposits lent by joint stock banks to the Treasury. Orthodox Economist Sir Josiah Stamp grumbled “inflation is just around the corner.” Less orthodox Economist John Maynard Keynes, now a Churchill braintruster, admitted new taxes were inevitable, but lightheartedly added: “We are only beginning to put forth our economic strength. … I find people too depressed about our finances.”