GERMANY'S FINANCES
; o-. : HEAVY TAXATION AND HARD ECONOMY FORECASTED i : —— J SUPERFLUOUS RICHES TO BE GIVEN UP - 8y Telegraph-Prosa ABSooio.tlon-OoDyrtgM i ~ Berlin, July 9. 1 Herr Erzberger, Vice-President of Germany and Minister. of Finance, in his Financial Statement to the National Assembly at Weimar, stated that it was ; not intended to issue annual war loans. The first steps towards reconstruction would bo an inheritance tax, and a big levy upon property. The year's expenditure was 250,000 million marks, and the deficit was 10,000 million marks. Ho torecasted an increase in the Imperial income tax to ten times the present amount, and in the States tax to about double. The . country must adopt the hardest economy. It must abandon old financial devices, and unproductive ex- , penditure, and abolish unemployment grants. Property-owners must bow to ; Government compulsion, and give up all ■ their superfluous l-iclies. Germany should pay the last penny of war loan interest in order to preserve her credit, of which she was in vital need—Renter. \ =========—
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Dominion, Volume 12, Issue 250, 16 July 1919, Page 7
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165GERMANY'S FINANCES Dominion, Volume 12, Issue 250, 16 July 1919, Page 7
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