Costs of war continue to soar
Westminster, 19 June 1918 - The financial costs associated with the present war continue to escalate to alarming levels. Andrew Bonar Law, Chancellor of the Exchequer, yesterday asked for a vote of credit of £500 million which will bring the total cost to Britain of the war to £7.8 billion.
And a further vote of credit is expected to be required by the end the August.
Despite this unfathomably huge expense, the Chancellor struck a upbeat tone, calming concerns about the recent offensives by enemy troops.
With regard to Austrian attacks in Northern Italy, Bonar Law echoed the confidence of the Italian High Command while acknowledging that the danger had not yet passed. Recent reports have placed the Austrians within eight miles of Treviso, a key railway junction just 15 miles north of Venice.
Turning to the western front, he told the House of Commons that the Germans had three strategic priorities – to take Paris, to capture the Channel ports and to divide the allied armies – and they had not yet achieved any of them.
[Editor's note: This is an article from Century Ireland, a fortnightly online newspaper, written from the perspective of a journalist 100 years ago, based on news reports of the time.]