GERMAN FINANCE.

Rangitikei Advocate and Manawatu Argus, Volume XXXIII, Issue 9135, 2 May 1908, Page 5

GERMAN FINANCE.

HEAVY ANNUAL DEFICITS

Press Association—Copyright. • ■ Berlin, May 1

The statements submitted by the Budget Committee in the Reichstag show that Germany must borrow fifty millions sterling within the next five years, even without fresh appropriations, in order to cover the annual deficits.

M. Erezerberger, reporter of the Budget Committee, characterised the estimate as horrifying, but believed the amount would be exceeded. Owing to many objections to increase the North German Lloyd’s subsidy annually to £35,000, the Reichstag referred the Bill to the Budget Committee.