£19,600,000,000.
GERMANY'S BLACK OUTLOOK. STUPENDOUS WAR DEBT. London, May 5. A message from Zurich says that a gloomy picture 6f Germany's finances has been drawn by the Industrial Union of Saxony, one of the greatest industrial organisations in Germany. 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: "This total would absorb 00 per 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 better 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."
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Taranaki Daily News, 30 May 1918, Page 5
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175£19,600,000,000. Taranaki Daily News, 30 May 1918, Page 5
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