DISHONEST HUN FINANCE

Dominion, Volume 11, Issue 294, 31 August 1918, Page 9

DISHONEST HUN FINANCE

. STRIKING FIGURES. Lord Hmraotl: miwlo ii striking speech on tho dishonesty of German war finance in (he House of Lords. British finance, ho contended, was honest. German finance was dishonest, in tlio sense Hint tlieir figures were untrustworthy. Ho filjowcd (lint, besides crediting herself with the old 'peace-time reserve (lint she was not receiving to-day, Germany did not debit herself with the .C71,000,0f10 that nlio paid in peace-timo for the upkeen of her Army and Nnvy. Tho acknowledged deficit for this year of mt.000.000 did not represent the facts, which, ho insisted, t'ho German Government dared not discloso to their people. Tho position was that Germany had provided by permanent taxation less I linn one-half of flic amount which she would require if the war came to a closo with the present financial year. "The day of reckoning must come,'" Lord Kinmnlt declared, "and if [ were a German I should regard it with positive terror." .lie suggested that the nnlv difficulty of ending the war was that (lie Pan-German day would lie over unless Germany obtained indemnities ns well ns territory. Without indemnities Germany must raise an additional .Wnn.flfHl'.ODO or £-m (100.000 a year by taxation. His conclusion was that, when it became apparent to Germany that she would receive no indemnities and that the people who made the war would have to pay for it, tho effect might be beneficial.