BANKRUPT BULGARIA.

Taihape Daily Times, Issue 220, 26 February 1917, Page 2

BANKRUPT BULGARIA.

GERMANY HOLDS UP GOLD. The financial difficulties of Bulgaria are becoming daily more serines, according to news received from the Balkans at the end of December. Bits of information, showing a dangerous situation in that Danubian kingdom, came through by way of Switzerland. This great war, after the previous Balkan struggle, has saddled tire agricultural state under the Coburg ruler with heavy expenditure and a debt which cannot be covered by, or of which even the interest cannot be paid out of the receipts derived from the crushing taxes. There is no corresponding revenue to meet the extraordinary outlay. The two million pounds advanced monthly by Germany have sufficed to defray the extra expenditure for the war alone. Appeals for further funds from Germany have been frequent and urgent. New and important taxes arc felt to be immediately necessary, however desperate this remedy may be. The pillage of Roumania has proved to be a Dead Bea apple. Tip. public debt of Bulgaria now stands at. nearly £125,000,000. Great discontent prevails at the constant, issue of paper money without due covering, and there is strong opposition to the project of further taxation. Bitterness is openly expressed that Germany only supplies paper and iron money, minted for use in Germany, on each fresh Bulgarian appeal for gold. Not a gold coin is sent from Germany—for very good reasons. The Bulgarian Finance Minister has been much abused for the lamentable financial situation of rip. kingdom.