DISHONEST GERMAN FINANCE.

Taranaki Daily News, 13 September 1918, Page 7

DISHONEST GERMAN FINANCE.

LORD EMMOTT'S FIGURES. • - Westminster, July 2. 'Lord Emmott made a striking speech on the dishonesty of German war finance in the House of Lords to-night. British finance, Lord Emmott contended, was honest.' German' finance was dishonest, in the sense that their figures were untrustworthy. He showed that, besides crediting herself with the old peace-time revenue that she was not receiving to-dav, Germany did not debit herself with'the £71,000,000 that she [paid in peace time for the upkeep of her Army and Navy. The acknowledged deficit for this year of £144,000,000 did ;not represent the facts, which, he insistjed, the German Government flare not disclose to their people. The position was [that Germany had provided by permanent taxation less than one half of the amount which she would require if the war came to a close with the present financial year.

"The day of reckoning must come," Lord Emmott declared, "and, if I were a German, I should regard it with positive terror." He suggested that the only difficulty of ending the war was that the Pan-German day would be over, unless Germany obtained indemnities as well as territory. Without indemnities, Germany must raise an additional £3ooj--000,000 or £400,000,000 a year by taction. His conclusion was that, wh«i»«ji't became apparent to Germany that shot would receive no indemnities, and that the people who made the war would; havo to pay for it, the effect might, be; beneficial. , ■.,:

Lord Hylton, speaking for the Govern-' stated that the figures which Lordy Emmott had given coincided with those; in the possession of the Treasury. •