There were, however, a number of small States who were compelled to look to their greater Allies for financial support. There was Belgium, until recently a very rich country, now devastated and de solated. We had to see that she did not suffer (cheers) until the period of restoration came and com. pensation. (Loud cheers).
There was Servia, with as large population as Ireland, fighting her third great war within two years; fighting Breat force, courage and prillianey, (cheers) but with no wealth, no revenue, no exports and hardly any manufaotures. There were also the other States who were preparing for war. (cheers). It was obviously to our intereste that they should be well equipped.
Then Britain herself had her own special difficulties. Two-thirds of her food supply was purchased from abroad. Enormous quantities of raw material were absorbed in war equipments, We had to purchase abroad for war purposes and to create enormous credits to enable other countries to do the same.
Mr. Lloyd George emphasized that there was no danger but, inc conference such as was held in we could not overlook the fact that great vigilance must be observed. We had effectively mohilized the financial resources of the Allies so as to be of the greatest help in the common cause, Great Britain was, undoubtedly, still the best. market in the world.
In a great war all the Allies must bring all their resources into the common stocks. (Cheers). The country having the more men ready with guns, rifles and munitions must bring them against the common enemy, even though the others were unable to make a similar contribution, The same thing applied to the country with the larger navy or the country with more money (Cheers). That was the principle on which the conference in Paris was worked. It was decided that each country should raise money on its own markets as far as conditions allowed, but if any country needed help for outside purchases those best able would render sesint ance. The only exception was Great Britain, France and Russia should contribute proportionately to every loan made to small Btates.
Text read from the printed page and cleaned; old type leaves the occasional error.