text_original: ^ Wellesley Pole did not exaggerate the gravity of the situation, nor are the causes of it obscure. The war, as we have seen, had encouraged reckless capital expenditure.
text_transcription: WELLESLEY POLE DID NOT EXAGGERATE THE GRAVITY OF THE SITUATION NOR ARE THE CAUSES OF IT OBSCURE THE WAR AS WE HAVE SEEN HAD ENCOURAGED RECKLESS CAPITAL EXPENDITURE
phonemes: wˈɛlɛsli pˈoʊl dɪdnˌɑːt ɛɡzˈædʒɚɹˌeɪt ðə ɡɹˈævᵻɾi ʌvðə sˌɪtʃuːˈeɪʃən, nˈɔːɹ ɑːɹ ðə kˈɔːzᵻz ʌv ɪɾ əbskjˈʊɹ. ðə wˈɔːɹ, æz wiː hæv sˈiːn, hæd ɛŋkˈɜːɹɪdʒd ɹˈɛkləs kˈæpɪɾəl ɛkspˈɛndɪtʃɚ.