GERMANY’S BLACK OUTLOOK.

Taihape Daily Times, 17 May 1918, Page 6

GERMANY’S BLACK OUTLOOK.

STUPENDOUS WAR DEBT. LONDON. May 6. A message from Zurich says that a gloomy picture of Germany’s finances has been drawn by the Industrial Union of Saxony, one of the greatest industrial organisations in Gremany. In a manifesto supporting the demand for war indemnities it is stated that the war has added £740,000,000 to the peace expenditure of £240,000,000. It continues: “The total would absorb 60 pe/ cent of the whole national income. Capitalised at 5 per cent., the national debt would then amount to £19,600,000,000 or more than the entire pre-war national wealth of Germany. “Such a burden would completely paralyse production and all spirit of enterprise and completely ruin our economic life. “Our foes are considerably bettor off in this respect. They need entertain no such apprehensions, as their own countries, and colonial possessions afford rich and natural sources of valuable raw materials and millions of workers, while Germany is dependent upon herself and, even if she regained her colonies, she cannot reckon on any immediate profit from them.’’