Tags
1914, Battle of Basra, British Chancellor of the Exchequer, cost, economy, finance, food, Great Britain, Iraq, Lloyd George, Ottoman Empire, Persia, Persian Gulf, stalemate, taxes, Turkey, War Loan
The Chancellor of the Exchequer announces that a War Loan of £350,000,000 is to be raised, issued at £95. It will yield 3½ per cent., and is redeemable at par not later than March 1, 1928. Additional duties are imposed on tea and beer, and the income-tax is raised. No substantial recorded change on either the East or West fronts. Turkish defeated at the head of the Persian Gulf.